1. GENERAL PROVISIONS

1.1 This XARU.io Service Usage Policy (hereinafter the "Policy") is intended for a legal entity (hereinafter referred to as the "User") that has successfully registered on the{" "} https://xaru.io website (hereinafter the "Service") and who has started using the Service provided by XARU FINANCIAL SOLUTIONS I.K.E. with registration number 167396603000 at the General Commercial Registry (G.E.MI.) located at the following address: 146 Syngrou Avenue 17671 Athens Greece (hereunder "Company" "We" "Us" and "Our").

1.2 Please read this Policy carefully. Acceptance of this Policy by registering on the https://xaru.io website successfully and starting to use the Service shall mean full and unconditional acceptance of the terms and conditions of this Policy. For the purposes of this Policy the User and the Company are hereinafter collectively referred to as the "Parties" and individually - as a "Party".

1.3 By accepting this Policy and creating the User’s Account with the Service the User agrees to fulfill and comply with all the rules and requirements for using the Service while the Company on its end shall provide the User with access to the Service under the terms and conditions of this Policy.

1.4 A full description as well as a list of services and features of the Service available for use by the User shall be displayed in the User’s Personal Account with the Service.

1.5 We may change the format and content of the website and the Service from time to time without noticing you. You agree that your use of the website and the Service is on an ‘as is‘ and ‘as available‘ basis and is at your sole risk.

1.6 We may revise and update this Policy from time to time in our sole discretion. All changes are effective immediately when we post them on the https://xaru.io website.

1.7 Your continued use of the website and the Service following the posting of the revised Policy means that you accept and agree to the changes. You are expected to check this page frequently so you are aware of any changes as they are binding on you.

1.8 This Policy is not a paid services agreement an agreement on the transfer of rights to use the Service a license agreement or any other agreement involving payment for the Company’s services or remuneration in favor of the Company but is a set of general rules and requirements to regulate the use of the Service by the User.

2. DEFINITIONS

2.1 "Service" shall mean an interactive software package owned by the Company including a website on the Internet at{" "} https://xaru.io intended for use by the User in accordance with the terms and conditions and rules posted thereon.

2.2 "User" shall mean a legal entity which has registered with the Service as a User and has accepted this Policy and the terms and conditions.

2.3 "Personal Account" shall mean a Service personalized section closed for public access. The Personal Account shall be accessed by entering authentication data - username and password - on the login page of the Service.

2.4 "Company" or "We" or "Us" and "Our": XARU FINANCIAL SOLUTIONS I.K.E. with registration number 167396603000 at the General Commercial Registry (G.E.MI.) located at the following address: 146 Syngrou Avenue 17671 Athens Greece

2.5 "Service Usage Policy" or "Policy" or "Agreement" or "User agreement" or "Terms of Service" or "Terms and Conditions": the legal relationship between the "User" and the "Company" as laid down in this Policy and amended from time to time.

2.6 "Content" means any information data text images videos or other materials provided or made available on the website{" "} https://xaru.io

2.7 "Software" means our proprietary software in machine-readable object code form including any error corrections updates upgrades modifications and enhancements to it.

2.8 "Third-Party Service Providers": authorized or regulated financial institutions providers of processing identity verification anti-money laundering services and such other third parties as we may partner with from time to time.

2.9 "Third-Party Services": services made available by Third-Party Service Providers.

2.10 "Third-Party Terms": terms conditions and policies of Third-Party Service Providers

3. RIGHTS AND OBLIGATIONS OF THE PARTIES

3.1 The User may:

3.1.1. Cease using the Service at any time (Right to Discontinue Use).

3.1.2. Use the Service features in accordance with the intended purpose (Right to Use Service Features).

3.1.3. Expect that User’s personal data will be handled securely and with respect for User’s privacy. We are committed to protecting your personal data and will take reasonable measures to ensure its security (Right to Data Privacy and Security).

3.1.4. Make a complaint and seek redress. We will take your complaints seriously and will make every effort to resolve any issues in a timely and satisfactory manner (Right to Complaint and Redress).

3.2 The User may NOT:

3.2.1. Copy distribute (including by copying to other sites and resources on the Internet) in particular conduct reverse engineering of the Service software or otherwise use the information and items without the Company’s prior consent. The User is informed that all materials of this Service are the Company’s intellectual property items (including design) and in case of any actions direct or indirect provided for in this Clause of the Policy the User shall be liable appropriately.

3.2.2. Block or take other actions directly or indirectly that may entail blocking the write-off of funds on virtual cards at the request of the User’s creditors who have rendered the relevant Services to the User.

3.2.3. Use the Service for any purpose as well as take actions and/or fail to act which may result in a violation of the requirements terms and conditions and goals established by this Policy.

3.2.4. Use the service for any illegal or unauthorized purpose including but not limited to fraud money laundering or supporting terrorist activities. You also may not use our service in a way that could damage disable overburden or impair it.

3.2.5. Attempt to gain unauthorized access to our service other accounts computer systems or networks connected to our service.

3.2.6. Interfere with or disrupt our service or servers or networks connected to our service or disobey any requirements procedures policies or regulations of networks connected to our service.

3.2.7. Provide false inaccurate or misleading information during the registration process or when using our service.

3.2.8. Breach our Terms of Service Privacy Policy or any other agreement that you have with us.

3.3 The User shall:

3.3.1. Register a Personal Account as a User with the Service.

3.3.2. Ensure proper security of the User’s username and password required to protect access to the Service from unfair use by third parties and notify the Company immediately of any cases of unfair use - via the Support e-mail:{" "} [email protected]

3.3.3. Exercise the rights provided for in this Policy.

3.4 The Company may:

3.4.1. Repudiate using the Service and block the Users Personal Account if it turns out that the User has violated any of the terms and conditions of this Policy as well as any prohibition and/or restrictions established by applicable law in accordance with this Policy.

3.4.2. The company reserves the right to modify or discontinue temporarily or permanently the service (or any part thereof) with or without notice. This could include changes to the user interface functionality or the addition or removal of features.

3.4.3. The company reserves the right to update these T&Cs at any time. When changes are made the company may notify users by posting a notice on the service or by other means. Continued use of the service following the posting of changes will mean that the user accepts and agrees to the changes.

3.4.4. The company has the right to take appropriate action against any user who violates these T&Cs. This could include suspending or terminating the user's account seeking legal remedies or cooperating with law enforcement authorities.

3.5 The Company guarantees:

3.5.1. That it has all the rights required to provide the User with the opportunity to use the Service in accordance with this Policy.

3.6 Company liability

3.6.1. Direct Damages: The company's liability is limited to direct damages caused by our direct breach of these Terms. We are committed to providing a high-quality service and will take responsibility for any direct damages that result from a failure on our part to uphold these Terms. However we do not assume liability for any indirect damages including but not limited to loss of profits (including anticipated trading profits) loss of business depletion of goodwill loss or corruption of data or information or pure economic loss. We also do not assume liability for any special indirect or consequential loss costs damages charges or expenses that arise under the Agreement.

3.6.2. Third-Party Service Providers: The company is not responsible for the actions errors or omissions of any third-party service providers. While we may integrate with or recommend certain third-party services these services are separate and independent from our own. Any issues or disputes with these services should be addressed directly with the relevant third-party service provider.

3.6.3. Service Availability: The company is not liable for any damages or losses resulting from any interruption or downtime of the service whether planned or unplanned. While the company strives to ensure that the service is available and functioning properly at all times there may be occasions when the service is unavailable due to maintenance updates or other reasons beyond the company's control.

3.6.4. Data Accuracy: The company is not liable for any damages or losses resulting from inaccuracies in the data or information provided through the service. While the company strives to ensure that all data and information is accurate and up-to-date there may be instances where inaccuracies occur.

3.6.5. User Actions: The company is not liable for any damages or losses resulting from the actions of users. This includes but is not limited to any actions that violate the T&Cs or any actions that harm another user or third party.

3.6.6. Force Majeure: The company is not liable for any failure to perform its obligations under the T&Cs if such failure is caused by events beyond its reasonable control such as natural disasters war terrorism riots embargoes acts of civil or military authorities fire floods accidents or strikes (commonly referred to as "force majeure" events)

4. CUSTOMER SUPPORT

4.1. The company is committed to providing comprehensive customer support for users of the service. Users may contact the company's customer support team through designated channels specified on the platform or website.

4.2. The customer support e-mail address is:{" "} [email protected]

4.3. The company will make reasonable efforts to respond to all customer support requests complaints and claims within a set timeframe. Our aim is to respond to all inquiries within 24 to 48 business hours. However response times may vary depending on the nature and complexity of the inquiry.

4.4. The user acknowledges that customer support may be provided through various means including but not limited to email live chat or a support ticket system. The availability and specific hours of customer support may be subject to change and will be communicated to users through the platform or website.

4.5. While the company strives to address and resolve user inquiries promptly and accurately it does not guarantee the resolution of all issues. The company also does not ensure continuous uninterrupted access to customer support. Users are encouraged to review the company's FAQ section or other provided resources for answers to common questions before contacting customer support.

4.6. The company acknowledges the importance of addressing customer complaints and claims and will make dedicated efforts to handle them fairly and efficiently within a reasonable deadline.

5. DISCLAIMER OF WARRANTY

The company provides the service 'as is' and 'as available' without any warranties or representations whether express or implied. The user agrees that the use of the service is at their own risk. The company does not warrant or guarantee the accuracy reliability completeness suitability or timeliness of the service or any content provided therein. The company disclaims all warranties including but not limited to warranties of merchantability fitness for a particular purpose non-infringement and title.

The company does not warrant that the service will operate without interruption be error-free secure or free from viruses or other harmful components. However the company aims to maintain a Service Level Agreement (SLA) of 99.5% uptime. Any scheduled maintenance that might affect this uptime will be communicated to users in advance.

Any reliance on the service or the content provided is solely at the user's discretion and risk. Please note that some jurisdictions do not allow the exclusion of certain warranties so some of the above exclusions may not apply to you. In such jurisdictions our liability will be limited to the greatest extent permitted by law.

6. INDEMNIFICATION

The user agrees to indemnify defend and hold harmless the company its officers directors employees agents and affiliates from and against any and all claims liabilities damages losses costs or expenses (including reasonable attorneys' fees) arising out of or related to the user's use of the service violation of the user agreement infringement of any intellectual property rights or any other act or omission by the user.

The user further agrees to cooperate fully in the defense of any such claims and acknowledges that the company reserves the right at its own expense to assume the exclusive defense and control of any matter otherwise subject to indemnification by the user. If the company chooses to assume defense and control the user agrees to cooperate with the company's defense of these claims.

The user shall not settle any claim without the prior written consent of the company. This indemnification obligation will survive the termination or expiration of this agreement and your use of the service.

7. TERMINATION

Either party may terminate this agreement at any time for any reason by providing written notice to the other party. Upon termination the user's access to the service will be immediately suspended and the user must cease all use of the service.

The user acknowledges that upon termination their account and any associated data may be permanently deleted. The termination of this agreement shall not relieve the user of any obligations or liabilities incurred prior to the termination.

The company reserves the right to suspend or terminate the user's access to the service without notice if the user violates the terms of this agreement engages in illegal or fraudulent activities or poses a risk to the security or integrity of the service. In the event of termination any provisions of this agreement that by their nature should survive termination including but not limited to intellectual property rights confidentiality obligations and limitation of liability shall continue to apply.

8. JURISDICTION

The present Terms shall be governed by and construed in accordance with the laws of the Hellenic Republic (Greece) without regard to its conflict of laws principles. Any legal action suit or proceeding arising out of or relating to this agreement shall be brought exclusively in the courts located within the Hellenic Republic (Greece) and the parties hereby consent to the personal jurisdiction and venue of such courts. The user agrees that any cause of action arising out of or related to the use of the service must be commenced within 6 months after the cause of action accrues otherwise such cause of action is permanently barred.

9. GOVERNING LAW

The present Terms shall be governed by and construed in accordance with the laws of Greece. Any dispute controversy or claim arising out of or relating to this agreement including its formation interpretation performance or termination shall be exclusively resolved by the courts of Greece located in Athens to the exclusion of any other jurisdiction.

The parties hereby submit to the personal jurisdiction of such courts and waive any objections or defenses based on lack of personal jurisdiction improper venue or inconvenient forum. The language of the proceedings shall be in Greek.

10. DATA PROCESSING

The company may be acting as a data controller and as a data processor on behalf of 3rd party service providers.

In cases where the company acts as the data controller as defined in Regulation (EU) 2016/679 of the European Parliament and the Council hereinafter the "Data Controller" the user agrees that the company may process personal data as outlined in its Privacy Policy.

The user acknowledges and agrees that the company may engage third-party data processors to process personal data on its behalf. The company will ensure that any such third-party data processors comply with the requirements of the GDPR and provide sufficient guarantees regarding the implementation of appropriate technical and organizational measures to protect the rights and freedoms of the data subjects. The company will only disclose or transfer personal data to third parties if necessary and in compliance with applicable data protection laws. The user understands and acknowledges that their personal data may be transferred to and stored at destinations outside the European Economic Area (EEA). In such cases the company will take all necessary steps to ensure that adequate safeguards are in place to protect the personal data as required by the GDPR.

In cases where the company acts as the data processor as defined in Regulation (EU) 2016/679 of the European Parliament and the Council hereinafter the "Data Processor" the company will follow the Data Controller’s reasonable instructions with regards to the personal data processed.

11.CONTACT INFORMATION

If the User has any comments or questions regarding the use of the Service by the User the User can contact the Company by using the following contact information of the Company:{" "} [email protected]

PAYMENT ACCOUNT AND CARD TERMS AND CONDITIONS

1. DEFINITIONS

1.1 The Terms and Conditions use the definitions below:

1.1.1 Agreement means an agreement (separate agreement or part of other services agreement) concluded between the Partner and the Client regarding provision of services to the Client and all its appendices;

1.1.2 Authentication is the performance of such operations as enable the Cardholder to be identified and/or the validity of the Card issued to the Cardholder to be established;

1.1.3 Account means a virtual account held in the Wallester System in the name of the Client for the purpose of providing services pursuant to this Agreement;

1.1.4 Means of Authentication means information, objects, attributes or other means that enable the Cardholder to Authenticate himself, prove the validity of the Card, or authorize Operations (for example, a one-time authentication code, PIN or CVV code);

1.1.5 Authorization means the process of giving the Cardholder permission to do or have something;

1.1.6 Available Funds means the amount of funds available in the balance for Operations;

1.1.7 Card means a payment instrument that uses the Visa network, issued by Wallester, and which the Cardholder may use to perform Operations. The Card can be a Chip&Pin Card or a Virtual Card;

1.1.8 Card Data includes the Cardholder's name, the Card number, validity period and security feature (e.g., CVV code) of the Card;

1.1.9 Cardholder means a person corresponding to Wallester’ requirements and who has been authorized by the Client to use the Card on behalf of the Client. The Client is responsible for any Operations performed by the Cardholder with the Card;

1.1.10 Chip&Pin Card means a physical Card with an electronic chip requiring a PIN-code as an authorization mean and has a Near Field Communication function. A Chip&Pin Card can be made of plastic, veneer, metal, or any other suitable material;

1.1.11 Client means a customer of the Partner with whom the Partner has concluded the Agreement;

1.1.12 Digital Wallet is a service provided by another company (e.g., Apple Pay, Android Pay, Samsung Pay, etc.) that allows to use the Card to complete transactions where the Digital Wallet is accepted;

1.1.13 Imperative Norms are legal provisions contained in legislation that cannot be derogated from by agreement in favor of Wallester;

1.1.14 Near Field Communication (NFC) means technology which can be used for contactless exchange of data over short distances;

1.1.15 Operation means using the Card in a Terminal to pay for goods and/or services or to obtain information and/or to withdraw cash if cash withdrawal via Visa card is enabled by service providers other than Wallester, or using the Card for online payment to a merchant providing goods and/or services;

1.1.16 Partner means the contractual partner of Wallester;

1.1.17 Partner's Website means a website operated and managed by the Partner to provide its services to the Client and/or Cardholder;

1.1.18 Partner's Application means an application for a smart device which is operated and managed by the Partner to provide services to the Client and/or the Cardholder;

1.1.19 Payment Card Terms and Conditions means this document which stipulates the rights and obligations of Wallester, the Client, and/or Cardholder in the provision of services by Wallester to the Client;

1.1.20 Strong Authentication means authentication of the Cardholder based on at least two elements that fall into the following categories: knowledge (something known only to the Cardholder), possession (something possessed only by the Cardholder), or attribute (something peculiar to the Cardholder) which are independent of each other so that a breach of one of these elements does not compromise the credibility of the other and the structure of which allows to protect the confidentiality of the authentication data;

1.1.21 Terminal means an ATM, point-of-sales terminal, or any other system (incl. online environment) through which the Cardholder can perform Operations with the Card;

1.1.22 Virtual IBAN or vIBAN means virtual International Bank Account Number, a unique identifier used for transfer of funds. For avoidance of any doubt, funds transferred by the Client to Partner’s vIBAN shall remain the property of the Client;

1.1.23 Virtual Card means a Card that consists of digital Card Data, is accessible online, and has no physical body;

1.1.24 Visa means the International Card Organization Visa Europe Ltd;

1.1.25 Wallester means Wallester AS (registration number 11812882), the payment services provider, registered office at F.R. Kreutzwaldi 4, 10120 Tallinn, Estonia, which holds activity license No. 4.1-1/224 issued by the Estonian Financial Supervision and Resolution Authority.

2. THE ACCOUNT

2.1 Wallester opens Account in the Wallester System in the name of the Client only for the purpose of carrying out the Operations. All funds added to the Account may be used only for the settlement of the Operations.

2.2 The funds held in the Account are not covered by the Financial Services Guarantee Scheme. The Account is not a checking or savings account and is in no way linked to any other account the Client may have. Client funds are safeguarded in segregated bank accounts and kept separate from Wallester's own funds. The Client will not receive any interest on the funds held in the Account.

2.3 Wallester reflects the Available Funds and history of Operations on the Account. This information is available in the Wallester System or in the Wallester App. Wallester does not charge any fees for this information.

2.4 The Client can add (top-up) funds to the Account by transferring funds from bank accounts bearing the Client's name with a financial institution registered in the EU/EEA or the UK. When adding (topping up) funds to the Account, the Client has to follow the instructions provided in the Wallester System or in the Wallester App. All top-ups are subject to anti-fraud verification procedures, which may delay access to the funds. Wallester reserve the right to reject any request to add funds to the Account at our sole discretion.

2.5 The Client may transfer Available Funds within the Wallester System or the Wallester App to other Wallester Clients if such option is provided by Wallester. Wallester starts the execution of the Operation immediately after the Client has authorized the Operation.

2.6 Wallester has the right to deduct the fees payable by the Client from the Available Funds in accordance with the Price List established by Wallester. If the Account does not have sufficient Available Funds to cover a fee, the amount of such fee will be deducted from any funds subsequently added to the Account.

2.7 The Client is responsible for all activities and Operations in the Wallester System, in the Wallester App, and on the Account.

2.8 In case of any questions, disputes, or complaints regarding the Account, the Wallester System, or the Wallester App, the Client should contact the Wallester support service:{" "} [email protected]

3. USE OF THE CARD

3.1 Only the Cardholder has the right to perform Operations with the Card.

3.2 Upon issuance of the Card, the Cardholder shall be provided with personal Means of Authentication (e.g., PIN or CVV code), which shall serve as the Cardholder’s signature when performing the Operations. At the Cardholder’s request, Wallester shall have the right to send the Card and the Means of Authentication by post to the address provided by the Cardholder to Wallester.

3.3 Before the Cardholder can use the Card, they must activate it by following the activation instructions provided by Partner. The Card is activated either in the self-service environment on the Partner’s Website or through the Partner's Application. The Cardholder may start performing Operations with the Card once the Card has been activated.

3.4 The Cardholder has the right to perform Operations within the amount and limits established by the Partner.

3.5 When using the Card, the Cardholder is required to use Strong Authentication except for the limits prescribed for Operations performed with a Near Field Communication device.

3.6 If there are not enough Available Funds available to perform an Operation with the Card, some merchants will not allow the combined use of the Card with other payment methods.

3.7 Wallester starts the execution of the Operation immediately after the Cardholder has authorized the Operation with the Card. Authorization (the Cardholder's consent to perform an Operation) may be performed using the Card or through the acquirer using the Card Data. If the Cardholder has authorized the Operation with the Card, the Cardholder is not entitled to a refund of the Operation unless the person who provided the corresponding service (for example, the merchant) agrees to refund the amount paid for the Operation.

3.8 At the request of the person servicing the Card, the Cardholder is obliged to present an identity document and consent to the recording of the document's data.

3.9 Wallester has the right to refuse to execute any Operations with the Card if:

3.9.1 the Card is invalid or closed or the use of the Card is blocked;

3.9.2 Wallester's believes that the Operation may violate the law or the terms of this Payment Card Terms and Conditions;

3.9.3 the Card is being used on illegal websites or with payment processors supporting illegal websites or to purchase illegal goods or services;

3.9.4 the Operation amount and/or limit (including the Operation fees and expenses) exceeds the Available Funds and/or the limit established by Wallester and/or the Partner;

3.10 on any other basis arising from the Agreement or this Payment Card Terms and Conditions or legislation. Wallester has the right to block the use of the Card until the circumstances have been verified if:

3.10.1 Wallester has become aware of a circumstance on the basis of which it can be reasonably concluded that the Card is available and/or its Means of Authentication are known to a person who is not authorised to use the Card;

3.10.2 the use of the Card may be associated with fraudulent or unlawful activities;

3.10.3 the Client or the Cardholder fails to fulfil its obligations under the Agreement or this Payment Card Terms and Conditions;

3.10.4 there are other grounds for blocking based on the Agreement, this Payment Card Terms and Conditions, or legislation.

3.11 If the basis for blocking the Card pursuant to Clause 2.10 does not cease to exist or there is another basis for closing the Card under the Agreement or this Payment Card Terms and Conditions, Wallester has the right to close the Card.

3.12 Unless otherwise provided in the Imperative Norms, Wallester shall not be liable for any damage caused to the Client and/or the Cardholder or any other third party as a result of Wallester blocking the use of the Card or closing the Card in accordance with the Agreement or this Payment Card Terms and Conditions. This shall also apply if Wallester blocks the use of the Card in good faith on the basis of false information.

3.13 Wallester has the right to assume that all the Operations with the Card have been carried out by the Cardholder in accordance with the Cardholder's will until proven otherwise or until the Cardholder has informed Wallester in accordance with Clause 3.3.

3.14 When using the Card, the fees related to the Operations are also taken into account, including the fee for requesting a limit query and/or viewing the Operation statement via ATM as well as the additional fees and conversion fees calculated by Visa, etc.

4. SECURITY REQUIREMENTS FOR USING THE CARD

4.1 The Cardholder shall use the Card in accordance with this Payment Card Terms and Conditions, including the following requirements:

4.1.1 to make every effort to protect the Chip&Pin Card from mechanical damage, high temperatures, electromagnetic exposure, copying, alteration, etc.;

4.1.2 not to disclose the Chip&Pin Card, the Card Data, or the Means of Authentication to any third party except to the person accepting the payment for the duration of an Operation;

4.1.3 to use the Card only in Terminals marked with the Visa logo or in Internet environments supported by Visa and to follow the instructions of the Terminal or the Internet environment when performing Operations. The instructions written on the Terminal shall be deemed to be correct and given by the Terminal. Wallester shall not be liable for any damage caused by a breach of this Clause of this Payment Card Terms and Conditions;

4.1.4 not to use the Card for illegal purposes and in a manner prohibited by applicable law, including the purchase of prohibited goods and services;

4.1.5 not to store the Card Data or the Means of Authentication on a data carrier;

4.1.6 to immediately report any errors or disruptions hindering the performance of Operations;

4.1.7 to beware of fraud. Wallester will never ask the Client or the Cardholder to provide Wallester with the Card Data or the Means of Authentication by email or phone. Therefore, do not provide anyone with any information about the Card Data or the Means of Authentication if such request is purportedly made on behalf of Wallester;

4.1.8 fulfil other obligations arising from the Agreement or this Payment Card Terms and Conditions or legislation.

4.2 If the Card is unauthorized or misused or if the Card and/or its Means of Authentication have been lost or stolen or have or may have become known to a third party who is not entitled to use them, the Cardholder is obliged to promptly report the incident to the Partner.

4.3 Upon receipt of the information referred to in Clause 3.2, Wallester shall make every effort to prevent further use of the Card (incl. blocking the Card).

4.4 Wallester and/or any other person servicing the Card has the right to refuse to execute the Operation and/or withhold the Card if the Card and/or its Means of Authentication have been used incorrectly or if Wallester and/or the person servicing the Card has doubts about the user’s identity.

4.5 Wallester shall follow PCI DSS 3.2 requirements and follow the procedures for securing and monitoring access of Cardholder data.

5. VALIDITY OF THE CARD AND ISSUE OF A NEW CARD

5.1 The Card is valid until the last day (inclusive) of the calendar month indicated on the Card. After the expiry of the validity period of the Card:

5.1.1 Wallester shall have the right to issue a new Chip&Pin Card (replacement card). The Partner shall inform the Client about the time and/or manner of receiving the new Chip&Pin Card;

5.1.2 the new Virtual Card is not issued automatically. The Client has to submit a new application for the Virtual Card.

5.2 Wallester has the right not to issue a new Card upon expiry of the Card's validity or upon the Client's application for a new Card (replacement card) if the Client and/or the Cardholder has breached any obligation or condition for the use of the Card arising from this Payment Card Terms and Conditions or any other agreement concluded with Wallester or if the Client or the Cardholder no longer meets the requirements set by Wallester.

5.3 If the Client does not want a new Chip&Pin Card, the Client shall notify the Partner in writing or in another manner accepted by the Partner at least 45 days before the last day of the month indicated on the Card.

5.4 If the Client does not accept the Card and/or the Card is not activated within 3 months from the date of creation of the Card, Wallester has the right to close and destroy the Card without refunding any service charges.

5.5 The Client undertakes not to use the Card and not to allow the Cardholder to use an invalid, closed, or otherwise unusable Card and to physically destroy the Card within 3 days after it became closed, invalid, or unusable.

6. DIGITAL WALLET

6.1 An alternative way to use the Card may be the Digital Wallet service. Use of the Digital Wallet is subject to additional terms and conditions and is provided at the sole discretion of Wallester. The Digital Wallet may not be accepted at all locations where the Card is otherwise accepted. The Cardholder may add or remove a Card from the Digital Wallet in accordance with the Digital Wallet provider's instructions.

6.2 Wallester will not charge the Client any additional fees for adding the Card to the Digital Wallet or using the Card in the Digital Wallet. The Digital Wallet provider may charge additional fees for the use of the Digital Wallet.

6.3 Wallester is not a Digital Wallet provider and is not responsible for the provision of the Digital Wallet service or for any failure of the Digital Wallet or inability to use the Digital Wallet for any transaction. Wallester is only responsible for providing secure information to the Digital Wallet provider to enable the use of the Card in the Digital Wallet as requested by the Client.

6.4 The Cardholder is responsible for protecting their mobile device, passwords, and other information required to make Operations using the Digital Wallet and is responsible for all transactions made through their mobile device, whether the credentials used are those of the Cardholders or another person.

6.5 In the event of any questions, disputes, or complaints in connection with the Digital Wallet, the Client should contact the Digital Wallet provider.

7. ENTRY INTO FORCE, AMENDMENT AND TERMINATION

7.1 The Payment Card Terms and Conditions shall enter into force upon signing the Agreement between the Partner and the Client and shall be concluded for an unspecified term.

7.2 Wallester has the right to unilaterally amend the Payment Card Terms and Conditions. The content of the changes will be communicated to the Client by the Partner by giving the Client at least 2 months' notice thereof. Within these 2 months the Client has the right to terminate the Payment Card Terms and Conditions with immediate effect and free of charge provided that all the obligations arising from the Agreement and the Payment Card Terms and Conditions have been fulfilled. If the Client has not terminated the Payment Card Terms and Conditions within the period specified above he shall be deemed to have accepted the amendments.

7.3 Wallester has the right to terminate the provision of services to the Client by giving Client at least 2 months' ordinary notice thereof.

7.4 Wallester has the right to terminate the Payment Card Terms and Conditions as an extraordinary remedy without prior notice if:

7.4.1 the risks associated with the Client are beyond Wallester's risk appetite;

7.4.2 the circumstances stipulated in Clause 2.10 have been verified;

7.4.3 the Card issued hereunder has been closed and/or blocked for at least 4 consecutive months;

7.4.4 the Card expires and the Cardholder fails to accept the new Card from Wallester within the period stipulated in Clause 4.5 (incl. failure to activate the new Card);

7.4.5 the Card has not been used for Operations for 6 consecutive months.

7.5 In addition to the cases stipulated in the Payment Card Terms and Conditions Wallester has the right to terminate the Payment Card Terms and Conditions as an extraordinary remedy without giving advance notice on other statutory grounds.

7.6 The termination of the Payment Card Terms and Conditions shall not affect the validity of the Agreement concluded between the Partner and Client and the collectability or satisfaction of financial claims arising prior to the termination of the Payment Card Terms and Conditions.

7.7 Termination of the Agreement concluded between the Partner and the Client shall result in immediate termination of the Payment Card Terms and Conditions and blocking of the Card.

8. LIABILITY

8.1 Wallester and the Client and/or the Cardholder shall be liable for breach of their obligations in accordance with the provisions of this Payment Card Terms and Conditions and legal enactments. Wallester shall not be liable for failure to perform Operations if:

8.1.1 if there are insufficient Available Funds to carry out the Operation;

8.1.2 if there is not enough cash in the ATM where the Operation is performed;

8.1.3 if the Terminal where the Operation was performed did not work properly;

8.1.4 if circumstances beyond Wallester's control (e.g. fire, flood, national emergency, computer or communication failure) prevent the Operation from being performed;

8.1.5 if a merchant refuses to accept the Card;

8.1.6 if the Card has been blocked after the Client or the Cardholder has reported the loss or theft of the Card or the Card Data;

8.1.7 if Available Funds are subject of legal proceedings or any other encumbrance restricts their use;

8.1.8 if Wallester has reason to believe that the Operation is unauthorized;

8.1.9 there are other reasons arising from this Payment Card Terms and Conditions or legislation.

8.2 Wallester shall not be liable for third parties involved in performing Operations for goods or services paid by the Card and in cases where acceptance of the Card for the performance of an Operation is refused.

8.3 If an unauthorized payment has been made using the lost or stolen Card and/or the Means of Authentication or if the Card and/or its Means of Authentication have been used in any other unlawful manner and if the Cardholder has not properly stored the Card and/or the Means of Authentication and if there are no legal circumstances excluding liability the Client and the Cardholder shall be liable for any damage caused until the acceptable notification to Wallester but not exceeding the amount of 50 euros. This amount limit shall not apply if the unauthorized payment is due to fraud on the part of the Client or the Cardholder or if the Client or the Cardholder has intentionally or grossly negligently breached the following:

8.3.1 the obligation to use the Card and/or the Means of Authentication in accordance with this Payment Card Terms and Conditions on its issuance and use, including the obligation to make every effort to protect the Card and/or the Means of Authentication enabling its use from the moment of receipt of the Card and/or the Means of Authentication;

8.3.2 the obligation to report the loss, theft, and unauthorized or improper use of the Card and/or the Means of Authentication immediately after becoming aware of the relevant incident;

8.3.3 one or more conditions for issuing or using the Card and/or the Means of Authentication.

8.3.4 The Partner shall be solely liable to the Client and the Cardholder for the performance of the Partner's obligations. Wallester shall in no case be liable for the Partner if the Partner fails to fulfil its contractual obligations.

9. WALLESTER’S RIGHTS IN PREVENTION OF MONEY LAUNDERING AND TERRORISM FINANCING

9.1 In preventing money laundering and terrorist financing Wallester shall have the following rights:

9.1.1 to request additional information about the Client and/or the Cardholder, their representatives, owners, and ultimate beneficial owners, and the Client’s business activities, incl. data on the origin of the wealth of the Client and their beneficial owners, on their contractual partners, turnover, the share of cash and non-cash transactions, frequency of transactions, etc.;

9.1.2 periodically verify the information forming the basis for the identification of the Client and/or the Cardholder and request the Client and/or the Cardholder to submit additional documents;

9.1.3 to identify the Client, the Cardholder and/or the beneficial owner at any time chosen by Wallester, especially if Wallester has doubts about the accuracy of the information obtained during the initial identification;

9.1.4 to impose temporary or permanent restrictions on Operations;

9.1.5 to request documents and information about the activities of the Client and/or the Cardholder, including information about the purpose and nature of the transaction and the origin of the Client’s assets;

9.1.6 to request the Client documents that form the basis of a transaction, including information or documents about the counterparty to the transaction, the beneficial owner, or other persons involved in the transaction;

9.1.7 to request the Client and/or the Cardholder to provide any other information and to take any other action Wallester deems necessary to implement its anti-money laundering and counter-terrorist financing measures.

9.2 Wallester has the right to refuse to provide services to the Client or to issue a Card and/or to execute Operations if the Client and/or the Cardholder fails to comply with the requirements set out in Clause 8.1.

10. INFORMATION AND SUBMISSION OF COMPLAINTS

10.1 Where necessary Wallester shall provide the Client through the Partner with a statement of the Cardholder's operations and related expenses in the self-service environment on the Partner's Website.

10.2 The Client or the Cardholder is obliged to check the correctness of the performed Operations. Complaints regarding unauthorized and/or improperly executed Operations shall be raised without undue delay but no later than within the time limit provided for by the applicable legislation in a format that allows for written reproduction.

10.3 If the Client or the Cardholder has authorized the Operation without knowing the exact amount the Client has the right to file a complaint to or claim refund of the Operation amount directly from the recipient of the payment resulting from the Operation instead of Wallester.

10.4 All other complaints and disputes between the Client and Wallester shall be settled by negotiation. If Wallester and the Client fail to reach an agreement with negotiations the dispute shall be settled by the court of the place where Wallester has its registered office.

10.5 The Client agrees that the contractual relations arising from these Payment Card Terms and Conditions shall be governed by the laws of the Republic of Estonia and that disputes shall be settled by the Estonian court unless it conflicts with Imperative Norms.

11. CONDITIONS FOR IDENTIFICATION OF PERSONS AND VERIFICATION OF DATA BY MEANS OF INFORMATION TECHNOLOGY

11.1 These terms and conditions shall be applied by Wallester to the establishment of a business relationship by means of information technology. The identification of the person and the verification of the data do not oblige Wallester to establish a business relationship or to guarantee the availability of the services;

11.2 identification of the person and verification of the data by means of information technology shall be carried out in accordance with the procedure provided for in Section 31 of the Money Laundering and Terrorist Financing Prevention Act of Estonia;

11.3 By using information technology means for identification of person and verification of data the Client and/or his/her representative hereby acknowledges that he/she has read and understood the following:

11.3.1 he/she performs these activities in person;

11.3.2 he/she does not provide false, misleading, or incomplete information;

11.3.3 he/she has read the information on the use of information technology means on the Wallester Website and agrees with the identification of the person and the verification of the data using means of information technology;

11.3.4 he/she agrees with the application of Estonian law to the identification of person and verification of data.

12. FINAL PROVISIONS

12.1 Wallester and the Client agree not to disclose any information relating to the conclusion or performance of this Payment Card Terms and Conditions to any third party unless this is necessary for the processing of the Card or the Operations or has been agreed herein. Wallester shall have the right to process relevant data in order to provide the service to the Client and/or the Cardholder in accordance with this Payment Card Terms and Conditions.

12.2 Wallester has the right to disclose information about Operations, the Card, the Client and/or the Cardholder to third parties whose right to receive information arises from legal enactments and/or Wallester’s principles of processing client data.

12.3 The specific terms and conditions for processing of personal data are stipulated in the Privacy Policy available on Wallester's website.

12.4 Supervision over Wallester’s activities shall be carried out by the Estonian Financial Supervision and Resolution Authority (address: Sakala 4, 15030 Tallinn, telephone: +372 66 80 500, e-mail: [email protected], website: www.fi.ee).