SERVICE USAGE TERMS AND CONDITIONS
Last modified: March 27, 2025
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AGREEMENT
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ABOUT UPAY AND ITS SERVICES
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INVESTMENT ADVICE AND SOLICITATION
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GENERAL TERMS AND CONDITIONS
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YOUR UPAY ACCOUNT
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ACCOUNT VERIFICATION
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FUNDING YOUR ACCOUNT
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INITIATING AN ELECTRONIC PURCHASE
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KEEPING YOUR ACCOUNT UP TO DATE
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SAFEGUARD OF YOUR FIAT CURRENCIES
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UPAY FEES
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ACCOUNT TERMINATION
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AVOIDING FRAUD
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PROPER USE
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OTHER TERMS
AGREEMENT
By using this website (“Site”), setting up a UPAY Account (“Account”) or making use of any services, products, data, content or materials provided through the Site (“Services”) by UPAY (“we” “us” “our”) you (“you” “your” “yourself”) agree to abide by the terms and conditions outlined here (“Terms of Usage” or “Terms”). Make sure to read through the Terms of Usage before utilizing this Site or any Services.
If you do not agree to the Terms of Usage and conditions stated here you are not permitted to access or use this Site and its Services.
These Terms of Usage were recently updated on March 27 2025. We hold the right to adjust, add, or remove parts of these Terms at our discretion. You will be given notice about any changes through your Account or email. Any modifications related to the core services mentioned below will be communicated two (2) months in advance, via email. Upon notification, it is your duty to review the updated Terms. Your continued use of the Site two months after such notice implies your acceptance of the changes, and all subsequent transactions will be governed by the revised Terms.
ABOUT UPAY AND ITS SERVICES
UPAY offers the following core Services to all its registered users (“Members”):
- Account funding in selected currencies, transferring and withdrawals in those currencies;
- Trading selected currencies for other currencies.
The Services mentioned above are regulated by Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) Services are subject to reporting under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), as amended.
INVESTMENT ADVICE AND SOLICITATION
UPAY do not offer investment advice of any kind regarding the Services described in these Terms of Usage. We may provide data on the price and range for the currency assets available on our platform, but this is not to be considered investment advice. The decision to buy or sell, deposit, or withdraw any assets is solely yours as the Verified User, and UPAY will not be held liable for any losses incurred arising from the User’s activity on the platform.
GENERAL WEBSITE TERMS AND CONDITIONS
Depending on where you live, set up your business, or have your registered office, you might not be able to access all features of the Site. It is important for you to follow the laws and rules of your location and the country from which you are using the Site. By agreeing to these Terms of Usage you are given a right to use the Site that is non transferable and non sublicensable.
You understand that UPAY may not actively seek customers from places where our services are not allowed or regulated. You confirm that (1) you are choosing to use the Site and Services on your own and (2) any transactions you make are because of your decision not because we asked you to.
All our Services come with no warranties without implied promises of quality or suitability for a purpose. We can’t guarantee that our Services or the Site will always be available without interruptions. While we strive to provide Services, there’s no assurance against interruptions, delays, failures, errors, omissions or data loss.
We will endeavor to ensure access to the Services and Site in line with these Terms of Usage. However, we may suspend Site and Services use for maintenance and will attempt to notify you beforehand. You acknowledge that this may not be possible in emergencies and accept the associated risks of not always being able to use the Services and Site or conduct urgent transactions through your Account.
YOUR UPAY ACCOUNT
Opening Your Account
By opening an Account, you expressly confirm:
Your acceptance of these Terms;
If an individual, you are at least 18 years old;
If a legal entity or acting for one, you are duly authorized to act and bind the entity;
You have full legal capacity to accept these Terms and engage in transactions involving electronic money assets; and You agree that all communications, including contractual information, disclaimers, marketing, and customer support, will be in English, and you waive any right to other languages.
ACCOUNT VERIFICATION
The creation and use of your Account are subject to verifications as mandated by law. You agree to provide necessary information for identity verification, compliance with know-your-customer (KYC) rules, and detection and monitoring of financial crimes like money laundering and terrorism financing. The information may include Personal Data (refer to our Privacy Policy). By providing this information, you confirm its accuracy and agree to notify us if any part of it changes. Your Account will be blocked until we verify the information to our satisfaction with no prior notice. During this period, you cannot close your Account or request deletion of Personal Data processed or provided during your verification process.
We reserve the right to cancel or terminate Accounts with Unverified status regardless of UPAY’s efforts to contact you for verification (“Unverified Accounts”) or lack thereof. Unverified Accounts inactive for over 6 months may be transferred to a third-party escrow (“Unverified Escrow”) and will no longer remain under our legal responsibility.
Suspension or escrow of an Account does not affect the payment of commissions for past Transactions.
For more information regarding UPAY account verification and required documentation, please refer to our KYC policy.
FUNDING YOUR ACCOUNT
You can fund your Account by wiring fiat currency via wire transfer (SEPA, FasterPayments or international SWIFT) from your bank account to your Account with UPAY. Our fees for such transfers are detailed in our Fee Schedule.
Funding methods may be updated from time to time and become available or delisted from certain regions or for certain Users at UPAY’s sole discretion. Please see our FAQ section for currently available payment methods.
UPAY does not accept deposits from third-party bank accounts. The name on your linked bank account must match your verified Account name.
Your funded Account does not earn interest.
INITIATING AN ELECTRONIC PURCHASE
Buy, Sell, Deposit or Withdraw a currency asset to and from UPAY platform
As an individual user of our website, you have the option to instantly complete a Purchase Transaction using your credit or debit card (“Card Purchase”), Google Pay, Apple Pay, or another authorized payment method on the platform (“Valid Payment Method”). The use of Apple Pay or Google Pay (specific to Visa or Mastercard credit or debit cards) depends on your device and location. For further details about Apple Pay, visit https://www.apple.com/apple-pay/, or for Google Pay, see https://pay.google.com/. The fees for instant Purchase Transactions are outlined in our Fee Schedule.
When you initiate a purchase with your card on our website, your card details are kept safe by our payment provider through a process called tokenization. This means that your sensitive information (like your card number) is swapped with a token to safeguard it from parties. You can only add a credit or debit card that belongs to you.
Our designated payment services provider may store payment details like credit or debit card numbers and their expiration dates when you make a Card Purchase.
This stored information may be the default for future Card Purchases on our website. You can delete or update your card information at any time. If your card has expired, our payment service provider will not store its information, and you will need to provide new card details for future purchases.
You are responsible for keeping your card information current and accurate. You agree to UPAY updating this stored information periodically based on data from you, your bank, or other payment service providers. Ensure you use only payment methods for which you have authorization.
KEEPING YOUR ACCOUNT UP TO DATE
Ensure Your Information Remains Current
We diligently maintain the security of our Site and Service. By registering with us, you commit to supplying us with up-to-date, precise, and complete details about yourself, including, for legal entities, data on directors, key personnel, and beneficial owners, as required by our registration and verification processes. You must promptly notify us of any changes to this information.
You declare and guarantee that in opening and using an Account with UPAY, you act independently and not on behalf of or for someone else’s benefit, unless you are authorized to manage an Account for a legal entity. UPAY may request proof of this authorization and perform necessary verifications.
You also promise not to access another Member’s Account or help others gain unauthorized access.
Maintain Your Account’s Integrity
You affirm and guarantee when opening and using a UPAY Account, you act independently and not for others, unless authorized by a legal entity to act as their representative in opening and using the Account. UPAY may ask for proof of this authorization and perform necessary verifications.
You also affirm and guarantee you won’t access other Members’ Accounts or help others gain unauthorized access.
Creating or using Accounts without our explicit prior permission will lead to immediate suspension of those Accounts and any pending transactions. Any such attempt, or aiding others in such attempts, or the distribution of tools for this purpose, will result in the termination of those Members’ Accounts. Termination is not the sole remedy for such infractions, and further actions may be taken against you.
SAFEGUARD OF YOUR FIAT CURRENCY ASSETS
UPAY may partner with payment institutions, Electronic Money Institutions or Banks to collect, create payment accounts and safeguard you fiat deposits and balances. This ensures the safety of all fiat currency in your Account in line with applicable laws. When you hold fiat currency with us, it is not held directly by us but is deposited into separate accounts at one or more Banking Providers, distinct from our corporate funds, i.e into segregated client accounts. You always remain the beneficial owner of the fiat currency rights we manage on your behalf with our Banking Providers, fully entitled to these rights as allowed by law.
When your fiat currency is held with Banking Providers, it will be pooled with funds from other Members. Each of you will have a proportional entitlement to the total fiat currency in the account(s) at the relevant Banking Providers. We use various Banking Providers based on the currency of your deposits and funds. You acknowledge that your fiat currency may be spread across several Banking Providers, not just the one where you made your deposit. This approach aims to diversify and reduce the risk of any single Banking Provider’s insolvency affecting you. You have no claim to accounts holding currencies other than those you’ve chosen to hold.
While we choose our banking partners with care, we cannot guarantee the safety of your currency in the event of a banking partners insolvency. If such a situation arises, we cannot be held responsible for any losses you may experience as a result of this insolvency. You will share proportionally in any losses with other Members holding the same currency at the insolvent Banking Provider, based on our records. If a Banking Provider fails, you might be eligible for compensation from a deposit guarantee or similar scheme, depending on the circumstances, including your personal situation. Some Banking Providers may not be covered by such schemes, and your eligibility to claim may vary. Where feasible, we may assist you in pursuing such claims.
In scenarios like our insolvency or bankruptcy, the fiat currency in your Account is not considered part of UPAY’s assets. The Banking Providers recognize it as belonging to our Members, ensuring it cannot be used by us as a guarantee for our own or third parties’ obligations, nor seized by our or our Members’ creditors.
UPAY FEES
We charge fees for our services, detailed in our Fee Schedule. We reserve the right to modify these fees at any time and at UPAY’s sole discretion and as dependent on any factors UPAY deems relevant. Any changes will be communicated to you in advance via your Account or email. It is your responsibility to review the updated Fee Schedule upon notification. By continuing to use the Site after we post notice of fee changes, you signify your acceptance of these changes.
We commit to charging only the fees outlined in the Fee Schedule. We will not use electronic money assets to generate revenue in any manner other than through the fees specified in the Fee Schedule.
Depending on applicable laws, regulations, and our own discretion, we may offer negotiated fee schedules, discounts, or other incentives to certain customers that may not be available to everyone.
By using specific parts of the Services, you acknowledge that UPAY or its affiliate may be a counterparty in transactions, acting as a principal. UPAY may include a spread in the quote you receive, meaning the purchase and sell quotes may differ at any given time due to this spread. The quote might show an approximate value and not guarantee the exact amount, which will be disclosed at the quote confirmation stage. By confirming the transaction, you accept the quote, understanding it might be a guaranteed amount or an approximation, and the final amount may vary from the initial quote. UPAY reserves the right to suspend a quote at its discretion.
ACCOUNT TERMINATION OR VOLUNTARY CLOSURE OF YOUR ACCOUNT WITH UPAY
You can close your Account at any time. To end this agreement with UPAY and close your Account, follow the procedure here after settling any pending transactions.
We reserve the right to close, suspend, or freeze your Account by providing notice. At our discretion, we may:
Limit, suspend, or terminate your access to the Service, Site, and/or Account;
Restrict access to the Site’s content, services, and tools;
Delay or remove hosted content;
Implement technical and legal measures to prevent Members from accessing the Site if they pose potential legal issues, infringe on third-party intellectual property, or act against these Terms.
Additionally, under certain circumstances, we may suspend or terminate Accounts for reasons including, but not limited to:
Unauthorized attempts to access the Site or another Member’s account;
Bypassing software security features;
Engaging in illegal activities such as money laundering, illegal gambling, financing terrorism, or other criminal acts;
Violating these Terms of Usage;
Non-payment or fraudulent payment for Transactions;
Operational difficulties;
Requests from law enforcement or government agencies.
Suspending or placing an Account in escrow does not affect the obligation to pay Fees for past Transactions.
If your Account is suspended or frozen and we decide to close it, we cannot proceed until our inquiries are complete, which may take weeks.
After terminating your account, unless regulatory restrictions apply, we will transfer any balances to your bank account. You must provide details of a valid bank account you own for this transfer.
We reserve the right to verify ownership of your bank account. We do not guarantee the timing of repayment or transfer completion.
We will send the credit balance of your Account, but intermediaries in international payments may deduct fees. We will try to disclose these charges before sending your payment, but if unavoidable, you are responsible for them.
Upon Account closure, amounts under 25 EUR will not be returned.
AVOIDING FRAUD AND ONLINE SCAMS RISK
Risks of Fraud and Scams
At UPAY, we aim to ensure the highest levels of safety for your Account activities. We focus on educating our customers about prevalent scams and providing advice to prevent fraud.
By using our Services and confirming these Terms of Usage, you acknowledge and agree that:
• UPAY is not liable for any losses or damages you incur due to illegal or fraudulent activities by third parties; you are solely responsible for your actions and how you use your Account;
• UPAY’s official giveaways, promotions, and referral programs are conducted exclusively through UPAY-owned channels, such as our Site OR via domain specific emails;
• UPAY only communicates with you via [email protected], [email protected], [email protected], [email protected], or (for automated emails) [email protected] email addresses;
• UPAY’s only phone number that can be used for communication with clients is stated in the Contacts section of our website;
• UPAY will never request your sensitive authentication details or demand remote access to your device, nor will we advise you to alter your security settings;
• You should use your Account credentials exclusively by yourself and not share your login information with anyone. Ensure the email and phone number linked to your UPAY Account are operated and maintained privately by you;
• You should set up 2-factor authentication only on devices you own and control, and do not allow access to these devices to anyone else;
• Any attempt to provide instructions or distribute software or tools related to the onboarding process, operation of the Account, or security measures, regardless of intent, may lead to the termination of both the defaulting and affected Members’ Accounts at UPAY’s sole discretion.
PROPER USE OF UPAY ’S SERVICES ON WWW.UPNEXUS.NET
Prohibited Activities
You agree not to use the Services for any illegal activities, including but not limited to: money laundering, illegal gambling, terrorist financing, malicious hacking, or any criminal or illegal actions.
You will only use your Account, the Site, and Services for personal use, unless you are a legal entity with a corporate account.
Limited Right of Use
Unless stated otherwise, all content on this Site, such as text, graphics, logos, icons, and images (“Materials”), is owned by UPAY and is protected by copyright, trademark, and other relevant laws. You may view, print, and/or download a copy of the Materials from this Site for your personal, informational, and non-commercial use, as long as you adhere to all copyright and proprietary notices.
The trademarks, service marks and logos displayed on this website (“Trademarks”) belong to UPAY and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio found here are the property of UPAY. It is important not to duplicate, alter or distribute the Trademarks and Materials in any manner without permission. Any unauthorized use could lead to consequences under copyright and trademark laws.
Transaction Recovery Responsibilities
You bear full responsibility for any mistakes, errors, or defects in any transaction that leads to the partial or complete loss of your electronic money assets. UPAY will not be held responsible for any damages resulting from the above mentioned situations. UPAY will not be accountable for any losses, such as transfers of electronic money assets caused by your mistakes or incorrect transaction details leading to the loss of your assets. UPAY will not compensate you for any losses due to these actions.
OTHER TERMS
Collection and Use of Your Data
For complete details on how we handle privacy, please consult our Privacy Policy: https://UPNEXUS.NET/privacy-policy/. We encourage you to read this policy thoroughly to understand the types of data we collect, our usage of this data, and with whom we share your information.
Confidentiality
You agree to maintain the confidentiality of all information, materials, and documents that, by their nature, a reasonable person would consider confidential. This information should not be disclosed to anyone except your relevant employees, attorneys, accountants, business advisors, and group companies (if applicable), strictly on a need-to-know basis. Additionally, these parties must agree to maintain the confidentiality of all exchanged materials and documents at all times.
Miscellaneous Provisions
External Sites
It is clarified that UPAY is not associated currently, nor has it been associated in the past with any external websites to UPNEXUS.NET. UPAY does not endorse, cooperate or affiliated in any way with any external website except those mentioned specifically in writing within these Terms.
External websites have their own terms and policies, which we recommend reviewing.
UPAY is not liable for incidental or consequential damages related to our Site or Services unless required by law. This includes damages such as loss of profits, data, or other intangible losses, even if we were informed of the possibility of damages.
Our total liability for any claims related to your use of our services will not exceed the amount you paid us in the 12 months before the claim.
Indemnity
You agree to indemnify and hold harmless UPAY and its affiliates from any claims, damages, or expenses arising from your use of the Site or Services or your violation of these Terms.
Taxes
You are responsible for determining and fulfilling the tax obligations relevant to your transactions. UPAY does not offer tax advice or manage tax reporting for users.
Force Majeure
UPAY is not liable for delays or failures in performance resulting from acts beyond our control, including acts of God, changes in law, or regulations.
Transfer of Rights
UPAY may transfer our rights and obligations under these Terms to another entity without prior notice or consent, but we will post a notice on our site.
Complaints
If you have complaints about our services, please contact us via email at [email protected], or by postal mail at the address provided. You can also reach us by phone at the numbers listed on our website.
Governing Law and Jurisdiction
These Terms are governed by the laws of Canada, and any disputes related to these Terms will be subject to the exclusive jurisdiction of the courts of Canada.
Contact Us
For any questions regarding these Terms or related issues, please email us at [email protected].