PAYTWEEN GENERAL TERMS AND CONDITIONS

What is PAYTWEEN?

The Paytween app (henceforth, “the App,”) is an application for smartphones which allows users to keep track of money spent between the members of a group when jointly doing an activity (a vacation with friends, a birthday present, expenses in a shared apartment, etc. [1]). Registered users create an expense-sharing group (a “Paytween Group”), in which members can introduce the amount of money they’ve spent, indicating those who have paid them, how much they’ve paid and the reason for the expense. The App determines who is owed money, who owes money, and how much each one owes to whom. The App allows the user to include information about shared payments/repayments and to connect to those payment platforms which are compatible with the App and which each user has installed to make/receive payments (e.g. Paypal, Twyp, Venmo, Paym, etc.) as well as send information on said payments to the Paytween Group. If a member of the Paytween Group makes a payment in cash or using a method of payment other than the compatible platforms, this information can also be recorded.

The App allows for the informal management of payments and shared expenses. It is only for informational purposes and has no economic or legal effects nor will serve as evidence of any kind.

[1] At first, the App will allow Users to input shared expenses, payments made and received. Later, the App will record payments made using the platforms that become compatible with Paytween.

What is PAYTWEEN not?

The App is not a method of payment. The expenses introduced into the App can be repaid using a Paytween-compatible payment application (Paypal, Twyp, Venmo, Paym, etc.) provided that all the group’s members have it installed, in cash, or using any other payment method.

The actions carried out using the App may not be considered binding in terms of claim or acknowledgment of payment, transfer, repayment, receipt, or provision of funds in electronic money/cash.

The use of the App does not guarantee the payment of expenses or their existence nor does it guarantee the receipt of payment or repayment by each of the users.

The benefit of using the App is merely informative. Thus, the information introduced by users or recorded by the App does not imply an obligation by the payee to pay, nor an acceptance or acknowledgement of debt by the debtor, nor the granting or acceptance of loans, credits or debts, nor the assumption of debts nor, in general, any legal or economic effect between users of the App.

The main purpose of the App is merely informative and informal, the management of shared expenses and their payments, which has no economic or legal bearing or as evidence of any kind.

1. GENERAL INFORMATION:

1.1 The Paytween General Terms and Conditions (the “Terms and Conditions”) apply to the use and operation of the App.

1.2 The Terms and Conditions set out the agreement between any user of the App (“you” or “User”) and Paytween LLC, a limited liability company duly organized under the laws of the State of Delaware, (“Paytween” or “us”) for the purchase, download, installation and use of the App.

1.3 Paytween is responsible for the management, maintenance and administration of the App.

1.4 A “User” of the App is anyone who has purchased, downloaded and/or utilized the App on a smartphone.

1.5 Users are responsible for having a suitable internet connection as well as a smartphone which supports the App. Paytween cannot be held responsible for malfunctioning of a phone or the data connection chosen by the User.

1.6 Paytween may unilaterally alter these Terms and Conditions (and any constituent part) for any legal, regulatory or security reasons, and/or to make changes, updates, or improvements to the App as deemed necessary. Paytween will notify you of any changes and you will be required to accept the changes to continue to use the App.

1.7 The service is provided as is and as available without any guarantee or warranty of being able to meet the specific purposes of a given User.

1.8 Failure by the User to accept the present Terms and Conditions gives Paytween the right to impede the User from using the App.

1.9 By downloading, registering, and/or using the App, you are agreeing to be bound by and become a party to these Terms and Conditions, which shall incorporate by reference the Paytween Privacy Policy (the “Privacy Policy”), the Paytween Intellectual Property Policy (the “Intellectual Property Policy”), the Paytween Cookie Policy (the “Cookie Policy”), and any other policy or set of terms published by Paytween from time to time which governs the User’s use of the App. If you do not agree to these Terms and Conditions, you should not purchase, download or use the App.

1.10 Paytween will provide the service with a reasonable degree of professionalism and diligence, determined at the sole discretion of Paytween, but makes no other promise or guarantee with regard to the service. Paytween reserves the right to modify, interrupt, or eliminate any functionality or service available in the App and does not guarantee that it will be free of errors, viruses, interferences, acts of hacking, or other security breaches considered circumstances of force majeure, over which Paytween takes no responsibility.

1.11 The User is responsible for any costs for voice services, data, SMS, etc. resulting from services provided by the telecommunication companies.

1.12 If you are under the age of eighteen (18) you must get your parent or guardian’s permission to download, install and use the App. By downloading and installing the App, you confirm that you are either over eighteen (18) years of age, or if you are under eighteen (18) years of age, that you are thirteen (13) years of age or older and have reviewed these Terms and Conditions with your parent or guardian so that your parent or guardian may accept the Terms and Conditions on your behalf. If you are a parent or guardian accepting these Terms and Conditions on behalf of your child over the age of thirteen (13), you hereby agree to accept full responsibility and liability for your child’s use of the app, including any charges your child incurs.

1.13 If Paytween discovers that any individual younger than thirteen (13) has registered as a User, it will eliminate the account as quickly as possible.

1.14 The App may only be used among individuals, and never in relation to business, commercial, professional, or trade activity.

1.15 Paytween shall not be held responsible for any disputes which may arise between Users or between Users and third parties with regard to expenses, payments, or repayments carried out in the App.

1.16 Users expressly agree that they will resolve all disputes which arise between them or with third parties directly with said User or third party.  At no time, and under no circumstances shall Paytween, its principals, subsidiaries or affiliates, be liable for any dispute between Users or between a User(s) and a third party.

1.17 Distribution or disclosure of the information received by Users from other Users is strictly forbidden. Users are solely responsible for compliance with all existing privacy and data protection laws on the use of the information attained or which could be attained by using the App.

1.18 The validity of the Terms and Conditions are in no way affected by the terms and conditions that correspond to Google Play and the Apple App Store through which the User has acquired or subscribed to the App.

1.19 The application of the Terms and Conditions shall be without prejudice to the application of the terms and conditions applied to payment platforms compatible with the App. In particular, the User understands and accepts that any issues regarding the security of payment methods depends solely and exclusively on the companies that administer said methods of payment. This includes, but is not limited to: the security of payment transactions, the breach of the security of User passwords, claims by third parties or by Users for the actual execution of payments, etc.

1.20 Under no circumstances can Paytween be held responsible for costs, fees, commissions, or any other charges incurred by Users for the use of compatible payment platforms or other methods of payment used. As such, Paytween recommends that Users request all relevant information in this regard before using these platforms. In any case, the use of said payment platforms is governed exclusively by their applicable terms and conditions. Please consult said terms and conditions prior to use.

1.21 These Terms and Conditions limit Paytween’s liability as set out in clause 15 below.

1.22 The App is solely for use by Users in accordance with the Terms and Conditions. Any use, reproduction or redistribution of the App not in accordance with the Terms and Conditions is expressly prohibited.

2. SYSTEM REQUIREMENTS

2.1 Any person willing to register as a User must be in possession of a smartphone connected to a cell phone network.

2.2 To download the App, the smartphone needs to be connected to the internet either over a telecom network or with Wi-Fi. The App is available for Android (versions 4.2 and higher) and iOS (version 8.4 and higher and having an IPhone 5 or higher). It is necessary to be registered with the Apple or Google Play Store.

3. APP USE AND SUBSCRIPTION

3.1 Download of the App and, where appropriate, the payment of a periodic subscription fee, can be done through the Apple App Store or Google Play. As such, Users must be aware that terms, conditions and policies established by said markets will apply.

3.2 Download of the App from Apple App Store or Google Play may mean User’s renounce to certain rights as set out in these Terms and Conditions; particularly, the User shall be bound for the payment terms of Apple App Store and Google Play, so any User’s right to get a refund of any payment made to download the App shall be subject to those terms and conditions.

3.3 Use of the App is free of charge until March 31st, 2017. After this date, use of the App may be subject to a fee.

3.4 The charge of a fee will be notified in advance to Users where appropriate, as a change in the Terms and Conditions which will require express consent by the User.

3.5 Non-payment of the renewal of the subscription fee, once the subscription period has lapsed, will entitle Paytween to limit the use of the App or of certain functionalities or impede the User from using the App.

3.6 User acknowledges that upon cancellation of any subscription service that the App, or Paytween, may offer, User’s subscription shall not renew further.  Accordingly, subsequent to cancellation, the User shall have access to all subscriber benefits for the remainder of the purchased subscription term. For the avoidance of doubt, if a monthly subscription is cancelled, User shall have access to all subscriber benefits for the remainder of the purchased month.  Note that deletion of the App shall not cancel any subscription service that the App, or Paytween may offer.  It is solely the responsibility of any subscriber to cancel their subscription through the Apple App Store or Google Play, as applicable, should they wish to do so.

3.7 As a condition of using the App, our Privacy Policy shall apply. You confirm that you have read the Privacy Policy so that you understand how we collect personal and non-personal data including accessing your location. All data that we collect is used to understand and improve your use of the App, and to provide the functionality of the App to you as otherwise set out in the Privacy Policy.

3.8 We may send you push notifications to your Android or iOS device (as applicable) whilst the App is installed and including whilst the App is not running in the foreground or in the background. Should you not wish to receive push notifications please adjust your privacy settings of the App to reject push notifications.

3.9 You acknowledge that we have no control over how other Users use the App and therefore we have no control over the quality of information posted on the service. Accordingly, we give no warranties or representations with respect of the accuracy or reliability of any content made available via the App and the service generally.

4. REGISTRATION PROCESS, ACTIVATION, AND DATA SYNCING:

4.1 Once the User has downloaded the App, he or she must complete the registration process by providing his or her first name, last name, email address and an associated telephone number. He or she will receive a code in order to activate the App.

4.2 Before activating the App, the User must accept the Terms and Conditions. The User must, then, allow the App to sync with the data in the phone’s Contacts in order to detect contacts who are Users. Failing to allow the App to sync with this data will prevent it from functioning correctly.

4.3 Paytween provides services based on the information the User provides. The data provided by the User in the registration process and at any other moment must be exact, precise and true.

4.4 Once the User has accepted the App’s Terms and Conditions, Paytween may contact the User for reasons specified in the Privacy Policy.

5. ASSOCIATED TELEPHONE NUMBER.

5.1 App registration and subscriptions are inextricably linked to the telephone number associated with one of the countries where Paytween is available in the Apple and Google Play Stores with a smartphone device.

5.2 It is not possible to transfer the App to another associated telephone number even if the owner is the same. If the User wishes to use a different telephone number, he or she must register it.

5.3 Users may only register and use one associated device.

6. INVITING CONTACTS

6.1 Users may invite their contacts to become Users by sending an invitation to any selected contact to download the App using the means they see fit.

7. THE CREATION OF PAYTWEEN GROUPS: JOINING, ADMINISTRATION, AND LEAVING.

7.1 Registered Users may create a Paytween Group with other registered Users with whom they are involved in a relationship or activity which will generate shared expenses.

7.2 The creator of the Paytween Group will become the administrator of the same and may invite other registered Users to become members of said Paytween Group.

7.3 If the Paytween Group’s creator leaves the Paytween Group, the role of Administrator is transferred to the second member that joined the Paytween Group.

7.4 Any member of the Paytween Group may select or change the Paytween Group name, image, photo, logo, etc.

7.5 These images, photos, or logos may be stored, shared, and/or published, by Paytween and its Users, as they are part of Paytween’s service and may be seen by other Users that have your number stored in their Contacts.

7.6 By default, members of a Paytween Group have access to the information related to said Group: history of shared expenses, payments and collections made by the members of the Paytween Group.

7.7 Members of the Paytween Group may leave the Paytween Group at any time as provided for under paragraph 10 below.

8. INFORMATION AND THE FUNCTIONING OF PAYTWEEN GROUPS.

8.1 The members of a Paytween Group will introduce shared expenses that they pay for. The App adds up the amount of total shared expenses and calculates each member’s share and the amount to be paid or received by each of the members.

8.2 It is the responsibility of the User to determine all taxes, withholdings, fees, or additional applicable or ancillary costs to sharing an expense which must be received, paid, or withheld. If the User wishes, said amounts may be included to be managed by Paytween. In any case, the App will take into account the total amount when determining the money to be paid and received (debts and credits) by the members of the Paytween Group.

8.3 Users may see, in real time, the Paytween Group’s total shared expense, money owed to or owed by the User, and the outstanding amounts to be paid or received both by the User and eventually the other members of the Paytween Group.

8.4 When the Paytween Group members who owe money repay it in full either using one of the compatible payment platforms, in cash, or by some other form of payment, Paytween will record this information and display it in the Paytween Group.

8.5 The App has a function that allows the User to see the shared expenses in each Paytween Group separated by type of expense/payers/date/and eventually location.

8.6 The App has a function that allows the User to see his or her debt or credit position for each of the Paytween Groups he or she belongs to.

9. PAYMENT IN DIFFERENT CURRENCIES:

9.1 Paytween allows for the administration of expenses in different currencies to accommodate for money being spent in different currencies and  members of the Paytween Group being located in countries with different currencies.

9.2 In these cases, the Paytween Group administrator will designate the common currency, and the App will convert the shared expenses to that common currency.

9.3 To determine the applicable exchange rate, the App uses the moment the expense was introduced into the Paytween Group as a point of reference.

9.4 The conversion of the shared expenses to the common currency is calculated using the most recent daily exchange rate at the close of business appearing on the European Central Bank Statistical Data Warehouse  on the date the shared expense was first introduced.

9.5 The currency conversion calculations carried out by Paytween are merely informative. It is understood that Users voluntarily accept the results. Should they not accept the results, they should notify the other Paytween Group members and jointly arrive at an acceptable solution.

10. LEAVING A PAYTWEEN GROUP:

10.1 The members of a Paytween Group may leave the Paytween Group at any time.

10.2 The information expressed above is without prejudice to the right of Users to uninstall the App at any time, thereby leaving all of the Paytween Groups to which they are members.

11. THE CHAT FUNCTION:

11.1 Each Paytween Group includes a chat function through which group members may communicate in writing and share multimedia content (audio, images, videos, etc.).

11.2 Paytween displays a list of “Active Groups,” which are those groups that have not entirely repaid the debts owed for the shared expense, as well as “Closed Groups,” which are those groups that have entirely paid back the debts owed for the shared expense.

11.3 The use of videos, pictures, images or messages subject to copyright or any other intellectual property rights by third parties is strictly prohibited unless the User is the holder of said rights or is authorized to use said materials. Users agree to not use the chat function to send videos, pictures, images or messages that may damage Paytween or any third party, or that are illegal, offensive, or inappropriate, at the sole discretion of Paytween.

11.4 Paytween reserves the right to take down any videos, pictures, messages or images, or any other content sent by Users which, in Paytween’s sole discretion, infringe or may infringe the rights of others. For further information on contents subject to intellectual property rights, if you feel your rights have been violated by the use of content which you are the owner of, or if you feel your right to privacy has been violated, please see our Intellectual Property Policy and Privacy Policy.

11.5 Though Paytween does not necessarily control, analyze, or revise contents uploaded by Users, it reserves the right to reject, review or eliminate contents which, in its sole discretion determines to be inappropriate or may be in violation of the law or of the rights or interests of others.

11.6 Users shall not upload any content which: (1) may be false, slanderous, illegal, obscene, pornographic, discriminatory or immoral; (2) uses the App for purposes related to illegal, immoral, or inappropriate activities, or those which may be in violation of the rights of others.

11.7 Users are solely responsible for any errors and omissions in content and for any claims made against them as a result of contents uploaded to the App.

12. INDEMNITY / COMPENSATION:

12.1 You agree to indemnify Paytween and keep Paytween indemnified from, and otherwise hold Paytween harmless from, and against all claims, damages, expenses, costs and liabilities (including legal fees) relating to or arising from your use of the App or arising from any breach or suspected breach of these Terms and Conditions by you or your violation of any law or the rights of any third party.

13. TERM AND TERMINATION:

13.1 These Terms and Conditions take effect upon your download, installation and/or use of the App and remain effective until terminated by either party. You may terminate these Terms and Conditions at any time by removing the App from the Android or iOS device (as applicable) on which you have installed it. Note that deletion of the App, or termination of these Terms and Conditions, is not a cancellation of any subscription that the App, or Paytween, may offer.  It is solely your responsibility to cancel any subscription through the Apple App Store, Google Play, or other app-subscription provider.  Access to the App is a privilege and is in no way a guarantee.  Paytween reserves the right to terminate your account and access to the App with or without cause at any time.

14. GENERAL PROVISIONS

14.1 These Terms and Conditions set out the complete understanding and agreement between Paytween and you and may only be amended or waived in writing by Paytween. No waiver by Paytween of any failure by you to comply with or perform a provision of these Terms and Conditions shall be deemed to be a waiver of any preceding or succeeding failure. In the event that any of the provisions of these Terms and Conditions are held to be invalid or unenforceable, the remaining provisions will remain in full force and effect.

14.2 These Terms and Conditions are personal to you.  You may not assign, sub-license, transfer or dispose of the rights licensed under this agreement. Paytween may assign or transfer these Terms and Conditions, including to any successor company of Paytween.

14.3 You may only use the App for your personal, private and non-commercial use. You may not reproduce, distribute, publically display or perform, translate, modify, adapt, create derivative works from, deconstruct, reverse engineer, decompile or disassemble in any manner the App, or any part of it, including but not limited to any character, graphic, associated software or proprietary communications protocol used by the software or any utilities, applications, emulators or tools derived therefrom.

14.4 You agree not to access or attempt to access the accounts of other Users or to penetrate or attempt to penetrate the App’s security measures, or transfer files that contain viruses, Trojans or other harmful programs.

15. PAYTWEEN’S LIMITATIONS OF LIABILITY

15.1 The App is provided ‘AS IS’ and on an ‘AS AVAILABLE’ basis without any representation, endorsement or warranty of any kind, including but not limited to implied warranties of satisfactory quality, fitness for a particular purpose, non-infringement, compatibility, security and/or accuracy.

15.2 Paytween does not guarantee that the App will be (i) free of errors, viruses, bugs or other defects; or (ii) that the App or any information displayed or distributed through the App or will be accurate or complete; or (iii) that any defects in the App will be corrected.

15.3 You acknowledge that reliance on any such information shall be at your sole risk.

15.4 NOTHING IN THESE TERMS AND CONDITIONS SHALL EXCLUDE OR LIMIT OUR LIABILITY FOR FRAUDULENT MISREPRESENTATIONS OR FOR DEATH OR PERSONAL INJURY RESULTING FROM OUR NEGLIGENCE OR THE NEGLIGENCE BY US, OUR EMPLOYEES OR AGENTS.

15.5 TO THE FULLEST EXTENT PERMISSABLE BY LAW, INCLUDING IN YOUR LOCAL JURISDICTION, WE EXCLUDE ALL OTHER LIABILITY FOR ANY LOSS OR DAMAGE, INCLUDING ANY LIABILTY OR DAMAGE TO ANY DEVICE OR COMPUTER SYSTEM, AND ANY LIABILITY RESULTING FROM THE USER’S UTILIZATION OF THIRD PARTY SERVICES IN CONNECTION WITH THE APP.

15.6 NOTHING IN THESE TERMS AND CONDITIONS SHALL BE DEEMED OR INTERPRETED TO LIMIT YOUR STATUTORY CONSUMER RIGHTS AND THESE TERMS AND CONDITIONS MAY BE INTERPRETED ACCORDINGLY BY GIVING THE MINIMINUM NECESSARY CHANGES TO GIVE EFFECT TO YOUR LOCAL STATUTORY CONSUMER RIGHTS.

15.7 YOUR RIGHT TO ACCESS AND USE THE APP IS REVOKED IN THE EVENT THAT THESE TERMS AND CONDITIONS OR SERVICE PROVIDED BY THE APP IS PROHIBITED IN ANYWAY IN YOUR LOCAL TERRITORY.

15.8 YOU ACKNOWLEDGE THAT THE APP HAS NOT BEEN DEVELOPED TO MEET YOUR INDIVIDUAL REQUIREMENTS AND THAT IT IS THEREFORE YOUR RESPONSIBILITY TO ENSURE THAT THE FACILITIES AND FUNCTIONS OF THE APP MEET YOUR REQUIREMENTS.

15.9 WE ARE ONLY RESPONSIBLE FOR LOSS OR DAMAGE THAT YOU SUFFER THAT IS A FORESEEABLE RESULT OF OUR BREACH OF THESE TERMS AND CONDITIONS, OR OUR NEGLIGENCE UP TO THE LIMIT SPECIFIED IN THIS CLAUSE 15.9. OUR ENTIRE LIABILITY TO YOU, AND TO THE EXTENT WE CAN NOT EXCLUDE IT, SHALL, WHERE PERMISSABLE BY LAW, BE LIMITED TO THE TOTAL AMOUNT PAID BY YOU TO PAYTWEEN. IN THE EVENT THE FOREGOING IS DEEMED UNREASONABLE BY A COURT OF COMPETENT JURISDICTION, YOU AGREE THAT OUR LIABILITY IS CAPPED AT $10.

15.10 IN THE EVENT THAT GOOGLE OR APPLE (AS APPLICABLE) REFUNDS YOU THE PURCHASE PRICE IN ACCORDANCE WITH ITS TERMS OF SALE, THEN BOTH GOOGLE OR APPLE (AS APPLICABLE) AND US WILL HAVE NO FURTHER WARRANTY OR OBLIGATION WHATSOEVER WITH RESPECT TO THE APP, AND ANY OTHER CLAIMS, LOSSES, LIABILITIES, DAMAGES, COSTS OR EXPENSES ATTRIBUTABLE TO ANY FAILURE TO CONFORM WITH THE FOREGOING WARRANTY. AS A CONDITION OF THE REFUND, YOU ARE REQUIRED TO DELETE THE APP.

16. CONTACT INFORMATION:

16.1 The App, the website www.paytween.com and any accompanying online or electronic documentation have been produced by and is the property of PAYTWEEN LLC, with registered office at 1405 Langley Place, McLean, VA, 22101, USA

16.2 You may contact Paytween by sending an email to contact@paytween.com .

17. PAYTWEEN LIABILITY

17.1 Neither Paytween nor its board of directors, employees, or providers are liable for damage, including loss of profit, arising from the use of the App in situations beyond those expressly indicated by applicable law.

18. SEVERANCE

18.1 If any provision of the Terms and Conditions is found by a court or regulator to be invalid or unenforceable the other provisions shall continue to apply.

19. APPLICABLE LAW

19.1 These Terms and Conditions, and any and disputes arising therefrom, shall be governed by and construed in accordance with the laws of the State of Virginia, without regard to principles of conflicts of laws. Any dispute between you and Paytween which cannot be resolved amicably shall be subject to arbitration consistent with the terms herein.

20. ARBITRATION

Any controversy or claim arising out of or relating to these Terms and Conditions, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association in accordance with its Consumer Arbitration Rules.  The arbitration hearing shall take place in Virginia before a single arbitrator.  Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The selected arbitrator shall select the hearing date within seven calendar days of appointment.  The hearing date shall be within ninety days of filing the initial demand for arbitration, unless the parties agree otherwise in writing.  The arbitrator shall make his or her award determination within seven calendar days of the close of evidence or submission of final briefs. The arbitrator shall also have the ability to award reasonable attorney’s fees of the prevailing party.  Under no circumstances shall you seek punitive damages against Paytween.  Notwithstanding the foregoing, either party may immediately bring a proceeding seeking preliminary injunctive relief in a court having jurisdiction thereof which shall remain in effect until a final award is made in the arbitration. WHERE PERMITTED UNDER THE APPLICABLE LAW, YOU AND PAYTWEEN AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACTIY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE ACTION.  Each party shall bear its own costs, fees, and expenses of arbitration.

These Paytween General Terms and Conditions were last updated December 2016