Last updated: December 16, 2022
COLLECTING AND USING YOUR PERSONAL DATA
When you visit the website or use one of our mobile applications or other Services, we collect your IP address, and standard web log information, such as your browser type and the pages you accessed on our website. We also may collect Geolocation Information (defined below). If you do not agree to our collection of this information, you may not be able to use our Service.
If you open an Oobit account, we collect the following information from you:
Account Information - text-enabled cellular/wireless telephone number, machine or mobile device ID and other similar information.
Identification Information - Personally Identifiable Information we collect may include your name, email addresses, postal addresses, ZIP code, profile image, geolocation information upon user login, telephone number, date of birth, gender, age, ID number, user name and password, console/hardware information, social media account information, and other information either desirable or necessary to provide quality services to our customers and visitors. We may also collect information about you such as your use of the Site and communication preferences. Personally Identifiable Information may be collected to determine if users meet legal qualifications necessary to use the services of both the mobile application and website.
Geolocation Information - information that identifies with reasonable specificity your location by using, for instance, longitude and latitude coordinates obtained through GPS, Wi-Fi, or cell site triangulation. We will collect this data for fraud and risk purposes. In addition, some of our Services may ask you for permission to share your current location within your device settings to enhance our Services. If you do not agree to our collection of Geolocation Information, our Services may not function properly when you try to use them. For information about your ability to restrict the collection and use of Geolocation Information to enhance our Services, please refer to the settings available in your device.
To send funds - In order to allow you to send funds to your friends, Oobit will request access to your contact list of friends to provide the service.
We collect two types of information: personally identifiable information and non-personally identifiable information. Personally identifiable information is information that identifies you or can be used to identify or contact you ("Personally Identifiable Information"). We also may collect information that by it typically cannot be used to identify or contact you, such as demographic information (e.g. age, profession or gender), IP addresses, browser types, contact list, image, domain names, and other anonymous statistical data involving the use of our website ("Non-Personally Identifiable Information").
Personally Identifiable Information we collect may include your name, email addresses, postal addresses, ZIP code, geolocation information upon user login, telephone number, date of birth, gender, age, ID number, user name and password, console/hardware information, social media account information, and other information either desirable or necessary to provide quality services to our customers and visitors. We may also collect information about you such as your use of the Site and communication preferences. Personally Identifiable Information may be collected to determine if users meet legal qualifications necessary to use the services of the Site.
To the extent we are able to do so; we may link your Non-Personally Identifiable Information with your Personally Identifiable Information. We may also link information collected online with information we collect offline or that is collected online by third parties.
Oobit may use the information collected from you to provide services which you have requested from us. We may also use your personal information to send you targeted messages, publications, news, and information about events, special offers, promotions and benefits. Oobit may use third-party service providers to send and distribute e-mail and to perform other marketing and support functions. We may use information we collect from you to improve the content of this Site, to enhance users' experiences when visiting this Site, and to customize the content and layout of this Site for each individual user.
Oobit may use third-party social media platforms, including third-party social media websites, to communicate with you. You may view our current social channels at https://linktr.ee/Oobit.com.
We also may share with third parties aggregated demographic and statistical information that is not personally identifiable.
Oobit also may disclose an individual's personal information:
- to a person who in the reasonable judgement of Oobit is seeking the information as an agent of the individual;
- in situations where sharing or disclosing your information is required in order to offer you products or services you desire;
- to a third party or parties, where disclosure is required or permitted by law;
- to any other entity that acquires all or a portion of our organization by merger, reorganisation, operation of law, or a sale of some or all of Oobit's assets.
- Oobit may be required to use or disclose your information in connection with a legal action or other proceeding, including without limitation, in response to a court order or a subpoena. We also may disclose such information in response to law enforcement or regulatory agency's request.
Through the Site, Oobit may make available areas that allow for user interaction, including blogs, forums, bulletin board services, chat areas, or other message and communications features (collectively, "Interactive Areas"). Some of these forums may require registration. Please remember that any information that is disclosed in the Interactive Areas becomes public information, and you should exercise caution when deciding to disclose your personal information or disseminate any other user-generated content.
The Site may feature social media interfaces allowing Users to connect social media accounts and Oobit User accounts, in which case user-generated content or other Non-Personally Identifiable Information may become public information. Oobit cannot control the privacy policies or practices of social media providers who operate outside of Oobit's control. Users should always check the privacy policies of the social media providers to evaluate Users' own privacy settings with those social media providers.
Oobit is committed to protecting the security of any personal information you provide to us. We maintain commercially reasonable safeguards to maintain the security and privacy of personal information that you provide to us. After you have submitted your information online to Oobit, we recommend that you end your browser session before leaving your computer. In spite of these protections, Oobit cannot guarantee the security of any data submitted over the Internet. After your information reaches Oobit, however, it is stored on servers (or in the case of information received from you in person, in writing or over the phone, in physical storage areas) protected by procedures and technology designed to block reasonably foreseeable intrusions by unauthorised third parties.
From time to time, you may receive periodic mailings, SMS or emails from Oobit with news, transactions alerts, product promotions or other information on behalf of Oobit. Oobit may also push notifications through Oobit's mobile apps If at any time you wish to stop receiving emails or mailings from Oobit please send us an email to email@example.com with the phrase "Privacy Opt-out: Oobit's Mailings" in the subject line and we will remove you from Oobit's mailing list. Alternatively, for e-mail communications, you may opt out of receiving such communications by following the unsubscribe instructions set forth at the bottom of most promotional e-mail messages from Oobit.
Oobit may use a third-party service provider, to serve advertisements on Oobit's behalf across the Internet and/or sometimes on the website and mobile application. Should a service provider display online advertisements to you, they may place one or more "cookies," pixel tags and/or other similar mechanisms on your computer in order to recognize your computer each time it displays an ad to you. Because Oobit's service provider serves ads on many different websites, it is able to compile information over time about where you, or others who are using your computer, saw and/or clicked on the advertisements it displays. Oobit's service provider may share that information with Oobit. Oobit's service provider and/or Oobit may use this information to make predictions about your characteristics, interests or preferences and to display targeted advertisements that our service provider believes may be of interest to you. Oobit's service provider may also associate this information with your subsequent visit, purchase or other activity on participating advertisers' website in order to determine the effectiveness of the advertisements.
While a service provider may use some of the information it collects in order to personalise the ads it shows you, its system(s) are typically designed to select ads only on data that does not personally and directly identify you. Oobit's service provider may also use non-personally identifiable information collected from you in its "data cooperative" to run targeted advertising campaigns.
You also have a right to opt-out of personalised targeted ads. Please note that when you opt-out using this method the Network Advertising Initiative will place an opt-out cookie on your computer. If you delete, block, or otherwise restrict cookies, you may need to renew your opt-out choice. Once you have opted out, our service providers will no longer use information it has collected to help deliver targeted advertisements.
This user agreement is effective as of February 01, 2023.
HI, WELCOME TO OOBIT!
REPRESENTATIONS AND WARRANTIES
OPENING AN OOBIT ACCOUNT
To create a personal account, you must be at least 18 years old or the age of majority in your state of residence and use a cellular/wireless telephone number. Your Oobit account is a personal account unless you have received our express written approval to open a business account.Personal Oobit accounts let you do things like:- Make payments with friends through the "Pay Friends" Service.- Transfer funds for purchases of goods and services through the "Tap to Pay" Service.- Buy, Sell, hold, and convert 35+ crypto assets.Please remember that personal accounts may not be used to conduct business, commercial or merchant transactions with other personal accounts, if you choose to do so, the responsibility will apply to you and you are obligated to follow any relevant law, including payment of any taxes applicable to the transaction.
CLOSING AN OOBIT ACCOUNT
You may close your account and terminate your relationship with us without cost, but you will remain liable for all obligations related to your Oobit account even after the Oobit account is closed. Any incomplete transactions or transfers must be completed or cancelled and you must transfer any funds from any personal or business profiles of your Oobit account before closing it.In certain cases, you may not close your Oobit account, including:- To evade an investigation.- If you have a pending transaction or an open dispute or claim.- If you owe amounts to us.- If your Oobit account is subject to a hold, limitation or reserve.
OUR RIGHT TO DECLINE, SUSPEND OR CLOSE YOUR ACCOUNT
RECEIVING FUNDS INTO YOUR OOBIT ACCOUNTADDING FUNDS
If we have verified the required identifying information that you provide to us, Oobit may offer you the ability to add funds to your Oobit balance from an External Wallet, by purchase crypto using a debit or credit card or Receiving funds from one of your contacts, subject to the applicable fees found on the Oobit website. Otherwise, you cannot add funds.
We determine eligibility for Direct Deposit in our sole discretion. If you are eligible for Direct Deposit, you will see the Direct Deposit feature in your Oobit app settings.Direct Deposit and the earlier availability of funds are subject to the timing of the payer's funding. Funds transferred via Direct Deposit generally will be available on the day the funds are applied to your account. Because we do not receive funds via Direct Deposit instantly, there will be some delay between the payment being initiated by the payer and the payment arriving at Oobit.
HOLDING FUNDS IN YOUR OOBIT ACCOUNTDIGITAL ASSET CUSTODY AND TITLE
All Digital Assets, including Received Assets, held in your Oobit Account are custodial assets held by Oobit for your benefit, as described in further detail below.
OWNERSHIPTitle to Digital Assets shall at all times remain with you and shall not transfer to Oobit, except as provided herein. All interests in Digital Assets we hold for Oobit Accounts are held for customers, and are not property of Oobit. As the owner of Digital Assets in your Oobit Account, you bear all risk of loss of such Digital Assets. None of the Digital Assets in your Oobit Account are the property of Oobit. Oobit does not represent or treat assets in your Oobit Account as belonging to Oobit.
You control the Digital Assets held in your Oobit Account. At any time, subject to outages, downtime, a court order, and/or other applicable policies, you may withdraw your Digital Assets by instructing Oobit to debit the applicable Digital Asset from your Oobit Account and transferring the Digital Assets to an External Account.
TRANSFERRING FUNDS OUT OF YOUR OOBIT ACCOUNT
Funds in your Oobit account may be transferred out of Oobit by:- Transferring it via external wallet;- Transferring it via contact;- Transferring it via Instant Transfer to an eligible debit card (coming soon);- Transferring it via Instant Transfer to bank account (coming soon);Fees and limits may change from time to time in our sole discretion.You may be required to provide us with additional information and/or documentation to verify your identity. We may limit your account and your access to funds in it or that is sent to you until verification is completed. Reviews may result in:- delayed, blocked or cancelled transfers;- funds or payments being held by us;- funds or payments being applied to amounts you owe to us or used to offset loss incurred by us;- account limitation, suspension or termination;- funds or payments being seized to comply with a court order, warrant or other legal process; and/or- funds or payments you previously received being reversed (i.e., sent back to the sender or to the card or bank account that was used to fund the payment).Among other reasons, we may take the above actions if you knowingly or unknowingly were a participant in a payment that was made from a stolen card, compromised bank account, or compromised Oobit account, or if you were a participant in a transaction for goods and services between two personal accounts.OOBIT SHOULD ONLY BE USED TO TRANSACT WITH PEOPLE YOU KNOW AND TRUST. DO NOT USE OOBIT TO TRANSACT WITH PEOPLE YOU DON'T KNOW, ESPECIALLY IF THE PAYMENT INVOLVES THE PURCHASE OR SALE OF A GOOD OR SERVICE. OOBIT SHOULD EXPRESSLY AUTHORISES YOUR PAYMENT FOR A GOOD OR SERVICE, FOR EXAMPLE, TRANSACTIONS WITH AN AUTHORISED MERCHANT OR BUSINESS PROFILE, TRANSACTIONS MADE WITH YOUR OOBIT CARD, OR PAYMENTS THAT ARE IDENTIFIED AS FOR GOODS AND SERVICES. IF YOU USE OOBIT TO CONDUCT AN UNAPPROVED TRANSACTION AND WE LATER REVERSE THE PAYMENT (WHICH COULD OCCUR IF IT IS DETERMINED THAT THIS AGREEMENT WAS VIOLATED OR IF THE PAYMENT WAS MADE USING A COMPROMISED PAYMENT METHOD OR ACCOUNT), YOU COULD LOSE BOTH THE UNDERLYING GOODS OR SERVICES AND THE FUNDS SENT FOR THEM.
MAKE PAYMENTSPAY FRIENDS / CONTACTS
Pay Friends is convenient and fast Service through the App allows transferring, receiving or requesting Crypto between Oobit users or between external contacts by charging the sender's Account on the one hand and crediting the Recipient's Account on the other, whether it is an Oobit Account or if It's an external Account.In order to use the "Pay Friends" Service, upon downloading the App, You will be asked to authorise the App to access your phonebook, the camera on the device, the notification Service (alerts), the NFC component in the device, and permission to access the read phone state components in the device.We collect information about the device from which the registration for the App is made, for example the type and model of cell phone, the type of operating system and its version and IP address. We may also collect information by granting access permissions that you will be asked to grant through your device at the time of registration for the App and during its use, inter alia, for the purposes of providing services in the App and / or for security purposes and for analysis, segmentation and statistical information.
TRANSFER AND RECEIVE CRYPTO THROUGH THE APP
In order to receive / transfer Crypto by using the "Pay Friends' ' Service You will have to download the Oobit App to your supporting device and join the Service by registering as an Oobit User. In order to transfer Crypto, You will be required to Click the "Pay" button on your App, then You may choose between "Transfer to a number" or paying by using a QR code. By choosing "Transfer to a number" you will be required to enter a valid phone number from your contact list, this number represents the contact person to whom you wish to transfer the Crypto to (the: "Recipient"). For payment using a QR code you will be required to click on the "Scan" icon in the App and scan the designated QR code.You will be required to indicate the amount you wish to transfer, You may also specify the reason for the transfer; then you will have to enter your password. After successfully entering the requested details, the App will send a message to the Recipient; In order to receive the Crypto, the Recipient must confirm the transfer. A Recipient who does not use the Oobit App will be required to download the App and join the Service.The Crypto will be transferred to the Recipient's Oobit Account, immediately upon the Recipient's confirmation. You will receive a push notification (SMS) from the App once the Crypto was successfully received by the Recipient. You can also review "Transfer status" in the App Menu.If the Recipient has not responded to your notice within three (3) days, the Recipient's digital Account will not be credited. If you wish to re- send it, you will have to initiate a new request.In order to receive Crypto, You will receive a Push Notification from the App and an Email stating that a Crypto transfer request is awaiting approval (If the User does not have an Oobit Account he will be notified via Text Message). You will be required to approve the request, once the request is confirmed the Crypto will be transferred to Your Account. When receiving a transfer request to receive Crypto to your Account - You must make sure that you recognize and know the sender of the request as well as the phone number from which the request came; we recommend that you thoroughly verify the identity of the Sender and the reason for the transfer before approving the request. If there is still a concern, instead of approving the request, we highly recommend you decline it.You will verify that the information entered by you for the purpose of using the "Pay Friends" Service is correct and accurate, including but not limited to the telephone number of an external user. You acknowledge that Oobit will not be responsible for any direct or indirect damages occurring as a result of inaccurate or incorrect information entered by You.Please be aware that a request for payment or a demand for payment does not constitute evidence of the existence of a debt between the parties, making a payment through the App will not serve as evidence of the existence of any debt and cannot be used in court as evidence of debt but only as evidence of payment
Please be aware that a Transfer cannot be cancelled after confirmation by the Recipient or in case any transfer was sent to you and approved by you. Oobit is not responsible for, and cannot assist with recovery of, a loss of cryptocurrency funds incurred by you in case of an error in selecting Recipient, error in entering a phone number or any Crypto transfer resulting from any User's direct or indirect error.
FEES, CHARGES AND ADDITIONAL INFORMATION
TAP TO PAY IN-STORE - (COMING SOON)OOBIT'S TOKEN ("OBT")
Business activities, Apps and services that are available or may become available in the future on the App may provide payments and/or incentives delivered in the form of Tokens ("OBT"), which are cryptocurrencies subject to a high degree of risk and volatility, and which may be illiquid and difficult to value.As a condition precedent to your use of the App, you understand, acknowledge, agree, covenant, represent and warrant as follows:(A) you shall make your own investigations and evaluations of any digital cryptocurrencies/ tokens (i.e. OBT);(B) you shall inform yourself as to the legal and regulatory requirements applicable to yourself in respect of the acquisition, holding, trading and disposition of OBT upon delivery, and as to the income and other tax consequences of such acquisition, holding, trading and disposition;(C) notwithstanding anything contained herein to the contrary, you specifically acknowledge and agree that trading and/or transaction in/ with OBT may be prohibited in certain jurisdictions including, without limitation, UNITED STATES OF AMERICA AND ITS TERRITORIES, CANADA, DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA (NORTH KOREA), CUBA, SYRIA, IRAN, SUDAN, CRIMEA REGION OF UKRAINE, PEOPLE'S REPUBLIC OF CHINA ("Excluded Jurisdictions");(D) specifically with regard to the United States, you shall ensure compliance with all applicable laws and regulations which prohibit or restrict the trading of OBT in any form or manner, you are neither residing in the United States of America nor a US Person within the meaning of Regulation S under the United States Securities Act of 1933, as amended, (a "US Person");(E) you shall not enter into any transaction or arrangement with the effect of selling or otherwise disposing of any OBT to any US Person or any person in the United States of America;(F) you specifically understand, acknowledge and agree that it is possible that the OBT could be considered securities under the laws of the United States of America, and that laws and regulations are evolving on this topic. The Company disclaims any representation or warranty that OBT can be legally traded or transacted in any jurisdictions, including the Excluded Jurisdictions;(G) you fully understand, acknowledge and agree that except for any liability that cannot be excluded by law, the Company, its subsidiary, affiliates and related companies, together with their officers, directors, employees, agents and representatives exclude all liability (including negligence) for any personal injury or for any loss or any damage (including loss of profit opportunities) whether direct, indirect, special or consequential, arising in any way out of or in connection with any OBT received thereunder, including without limitation:(i) failure, malfunction or breakdown of, or disruption to, the operations of the App due to occurrences of hacks, cyber-attacks, distributed denials of service, errors, vulnerabilities, defects, flaws in programming or source code or otherwise, regardless of when such failure, malfunction, breakdown, or disruption occurs;(iii) any prohibition, restriction or regulation by any government or regulatory authority in any jurisdiction relating to receipt of any OBT by you;(iv) any variation in the market value or market liquidity of OBT;(vii) any tax or legal/ regulatory liability incurred by you in relation to any OBT received; and all other risks, direct, indirect or ancillary relating to any OBT received which are not specifically or explicitly stated in the terms and conditions herein.You agree to indemnify the Company, its subsidiary, affiliates and related companies, together with their officers, directors, employees, agents and representatives from all losses, expenses and other liabilities (including the cost of investigation and defence whether or not the above mentioned person is a party) arising from and all actions, proceedings or investigations, whether actual or threatened, relating to breach of any terms and conditions of herein.To the maximum extent permitted by the applicable laws, regulations and rules, the Company shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on these terms and conditions or any part thereof by you.You further acknowledge that any OBT to be distributed by the Company may be modified, curtailed, discontinued or terminated at any time in its sole discretion for any reason (including, but not limited to, the Company's inability to finance or otherwise operate any Program and any OBT due to major devaluation of OBT or an order of any court, regulatory agency or other governmental authority).
We may grant you reward currency which we refer to as "OBT rewards". Up until March 10th 2022 OBT rewards were granted to Users for completing the full registration process only. As from March 11th 2022 OBT rewards will be granted subject to completing the full registration process and subject conversion or buying crypto for over $30 in value.You may use your OBT rewards only internally within the Oobit Platform and only for the following usages:- Transfer OBT rewards between users within the platform;- Paying fees at reduced costs of up to 50%.It is hereby agreed that the discount percentage varies from one User to another and it depends on the type of transaction and/or service, therefore it is subject to Oobit's full internal discretion.Please note that You will not be able to withdraw OBT rewards from your Oobit Account to any external E-wallets or to any external Digital Currency address nor to trade OBT rewards for other currencies.The Policy set out in these Terms is Oobit's internal policy regarding OBT rewards. It should be emphasised that if discrepancies are discovered between this Policy and any applicable law or regulation, Oobit will be obliged to act in accordance with applicable law.
As part of our App push notifications, we'll also send you push notifications when the price of our 35+ crypto goes up or down. The crypto price alerts may be delayed or disrupted, so you may not receive a price alert each time the prices of the crypto asset increase or decrease.Price alerts are based on the information on the market price of cryptocurrencies that is shared with us by an external source that we believe to be reliable. However, we do not control the external sources or the data they provide, and we do not always independently verify that the information provided is complete and accurate. For purposes of price alerts, we do not receive real-time pricing information, but instead compare the crypto price at regular intervals. Therefore, we do not guarantee or warrant that the information provided in price alerts is accurate, complete, timely, or suitable for use, and it may be inaccurate, incomplete or out of date.These alerts are designed to provide information about movements in the crypto market, but should not be your sole way of monitoring and making decisions involving crypto. Market conditions and data outages may also result in delays or disruptions to crypto price alerts. You should verify any price alert information you receive before you act on it and we have no liability to you if you make decisions based on the price alerts that you receive from or through us or based on your failure to receive a price alert. Price alerts are provided for informational purposes only, and do not constitute a recommendation by Oobit to buy, sell or hold any asset.
RELIANCE OF INFORMATION POSTED
The information presented on or through the App is made available solely for general information purposes. We do not warrant the accuracy, completeness or usefulness of this information. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the App, or by anyone who may be informed of any of its contents.The App may include content provided by third parties, including materials provided by other users, bloggers and third-party licensors, syndicators, aggregators and/or reporting services. All statements and/or opinions expressed in these materials, and all articles and responses to questions and other content, other than the content provided by the Company, are solely the opinions and the responsibility of the person or entity providing those materials. These materials do not necessarily reflect the opinion of the Company. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.The App is not in any manner or in any form or part intended to constitute or form the basis of any advice (professional or otherwise) or to be used in, or in relation to, any investment or other decision or transaction. We do not accept any liability (regardless of how it might arise) for any claim or loss arising from:- any advice given;- any investment or other decision made; or- any transaction made or effected, In reliance on, or based on, any information on the App, nor do we accept any liability arising from any other use of, or reliance on, the App.We do not enter into any terms or make any representations as to the accuracy, completeness, currency, correctness, reliability, integrity, quality, fitness for purpose or originality of any content of the App and, to the fullest extent permitted by law, all implied warranties, conditions or other terms of any kind are hereby excluded. To the fullest extent permitted by law, we accept no liability for any loss or damage of any kind incurred as a result of you or anyone else using the App or relying on any of its content.We cannot and do not guarantee that any content of the App will be free from viruses and/or other code that may have contaminated or destructive elements. It is your responsibility to implement appropriate IT security safeguards (including antivirus and other security checks) to satisfy your requirements as to the safety and reliability of content.
OUR RIGHTSOUR SUSPENSION AND TERMINATION RIGHTS
AMOUNTS OWED TO US
In some rare cases we may deduct amounts, in whole or in part, from funds that are sent to your Oobit account later, either by you or from payments sent to you. We reserve our right to:- reverse payments you have sent;- engage in collection and other efforts to recover such amounts from you; and- place a limitation or take other action on your Oobit account;
If any proceeding by or against you is commenced under any bankruptcy or insolvency law, we'll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this agreement.
ASSUMPTION OF RIGHTS
If we invalidate and reverse a payment that you made to a recipient (either at your initiative or otherwise), you agree that we assume your rights against the recipient and third parties related to the payment, and may pursue those rights directly or on your behalf, at our discretion.
AUTHORISED ACTIONS AND SERVICES
DISCLAIMER OF WARRANTIES
You understand that we cannot and do not guarantee or warrant that files available for downloading from the internet or the App will be free of viruses or other destructive code. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining a means external to our site for any reconstruction of any lost data.WE WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE APP OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE APP OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT, OR ON ANY APP LINKED TO IT. YOUR USE OF THE APP, ITS CONTENT AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE APP IS AT YOUR OWN RISK. THE APP, ITS CONTENT AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE APP ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER THE COMPANY NOR ANY PERSON ASSOCIATED WITH THE COMPANY MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY OR AVAILABILITY OF THE APP. WITHOUT LIMITING THE FOREGOING, NEITHER THE COMPANY NOR ANYONE RELATED TO OR ASSOCIATED WITH THE COMPANY REPRESENTS OR WARRANTS THAT THE APP, ITS CONTENT OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE APP WILL BE ACCURATE, RELIABLE, ERROR-FREE OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT OUR SITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR THAT SUCH APP OR ANY SERVICES OR ITEMS OBTAINED THROUGH SUCH APP WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS. THE COMPANY HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON INFRINGEMENT AND FITNESS FOR PARTICULAR PURPOSE. SOME JURISDICTIONS DO NOT ALLOW EXCLUSION OF WARRANTIES OR LIMITATIONS ON THE DURATION OF IMPLIED WARRANTIES, SO THE ABOVE DISCLAIMERS MAY NOT APPLY TO YOU IN THEIR ENTIRETY, BUT WILL APPLY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW.
YOUR RELEASE OF US
If you have a dispute with any other Oobit account holder, you release us from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release you expressly waive any protections that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favour at the time of agreeing to this release.
LIMITATION OF LIABILITY
IN NO EVENT WILL THE COMPANY, ITS AFFILIATES OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS OR DIRECTORS BE LIABLE FOR DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, OUR APP, OR ANY APP LINKED TO THEM, ANY CONTENT ON THE APP OR SUCH OTHER APP OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE APP OR SUCH OTHER APPS, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT OR OTHERWISE, EVEN IF FORESEEABLE. THE FOREGOING DOES NOT AFFECT ANY LIABILITY WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW (WHICH MAY INCLUDE FRAUD). THE COMPANY WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE ARISING FROM ANY USE OF YOUR ACCOUNT BY YOU OR BY ANY THIRD PARTY (WHETHER OR NOT AUTHORISED BY YOU) INCLUDING BUT NOT LIMITED TO CYBER ATTACKS, UNAUTHORISED ACCESS BY ANY THIRD PARTY.
INTELLECTUAL PROPERTY RIGHTS
Here at Oobit, protecting your Account and the digital assets within it is highly important to us therefore we ask you to be careful with your passwords, security codes and other security features that you use to access the App securely. Please maintain the security of your Account by protecting your login, password and security credentials from unauthorised access or use. Remember- It is your responsibility to ensure the security of, and your continuous control over, any device or account that may be associated with enhanced security features. You notify Oobit if you discover or suspect any unauthorised access or use of your Account or any security breaches related to your Account.Please notify us immediately if you become aware of any unauthorised use of your password or Account or any other breach of your security which may compromise your password or Account. You may not allow third parties or unauthorised users to use your Account. We will not be liable for any loss that you may incur as a result of someone else using your password or Account, either with or without your knowledge. You may notify Oobit of a security breach regarding your password or Account by emailing firstname.lastname@example.org.You can be assured that upon receipt of written notice from you that the security of your Account has been compromised, Oobit will take its best steps to protect your Account, Nevertheless, you are responsible for all activities that occur under your Account and you hereby authorise Oobit to accept and rely on, any agreements, instructions, orders, authorizations and any other actions made, provided or taken by anyone who has accessed or used your Account regardless of whether the access is authorised or unauthorised by you.
A party's "Confidential Information" is defined as any information of the disclosing party, which: (a) if disclosed in a tangible form is marked as "Confidential" or "Proprietary" or if not so marked, should be reasonably understood by the receiving party from the context of disclosure or from the information itself, to be confidential; (b) if disclosed orally or visually is declared to be confidential or, if not so declared, should be reasonably understood by the receiving party from the context of disclosure or from the information itself to be confidential; or (c) is designated as Confidential Information in these Terms. Confidential Information shall include without limitation, information accessed via the Oobit App, technical specifications and processes of each party. Each party shall hold the other party's Confidential Information in confidence and shall not disclose such Confidential Information to third parties nor use the other party's Confidential Information for any purpose other than solely as required and necessary to perform its obligations under these Terms. Such restrictions shall not apply to Confidential Information that: (a) is known by the Recipient prior to the date of disclosure by the disclosing party; (b) becomes publicly known through no act or fault of the Recipient; (c) is received by Recipient from a third party without a restriction on disclosure or use; or (d) is independently developed by Recipient without reference to or knowledge of the Confidential Information.Notwithstanding the foregoing, Oobit may share Confidential Information with an affiliate in the event that the Oobit requests services from such an affiliate and such affiliate shall be bound by this Section. In the event Confidential Information is required to be disclosed by a court, government agency, regulatory requirement, or similar disclosure requirement, the party subject to such requirement shall promptly notify the disclosing party upon learning of the existence or likely existence of such requirement and shall use reasonable efforts to avoid such disclosure and, if necessary, use reasonable efforts to obtain confidential treatment or protective order covering any disclosed Confidential Information. The parties' respective obligations to maintain the confidentiality of information disclosed hereunder shall survive the expiration or termination of these Terms or until such time as such information becomes public information through no fault of the receiving party.When using an App, data may be transmitted over an open network which may allow such communications to be intercepted by third parties. As a result, we cannot guarantee the confidentiality of any communication or data that you may transmit to us through the App.
MISCELLANEOUSLINKING TO THE APP AND SOCIAL MEDIA
You may link to our homepage, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part without our express written consent.
THIRD PARTY SERVICES
Certain features of our App may utilise the services and/or Apps of third party vendors and business partners, which services and/or Apps may include software, information, data or other services. Certain of these vendors and business partners require users who utilise such features to agree to additional terms and conditions. This page identifies third party terms and conditions that are required by such third party vendors and business partners as they apply to the features set forth below. Your uses of such features constitute your agreement to be bound by these additional terms and conditions. These third party terms are subject to change at such third party's discretion. The Company is not responsible and does not assume any liability whatsoever for acts, errors or omissions of any third-party service provider.
“Business Day(s)” means Monday through Friday, excluding holidays when Oobit's offices are not considered open for business. If a holiday falls on a Saturday, we observe the holiday on the prior Friday. If the holiday falls on a Sunday, we observe the holiday on the following Monday.
CONSUMER FRAUD WARNING
We're always looking for ways to help keep you even more secure. So, stay on the lookout for some of these common scams:- Seller Scam: a scammer sends you a fraudulent payment for goods or services you provide outside of Oobit.- Accidental Payment: a scammer sends you a fraudulent payment, claims it was accidental, and asks that you return their funds.Always use common sense when sending funds. If something sounds too good to be true, it probably is. Only send funds for yourself and not for others. Please let us know immediately if you believe someone is trying to scam or defraud you by contacting us at: email@example.com.
If you do not log in to your Oobit account for two or more years, we may, according to our sole discretion, close any feature (such as but not limited to "Tap to Pay" or "Pay Friends") in your Account. You shall receive a written notification from us stating your Account has become Dormant. You may ask us to send your funds held in our possession to your primary address (if we have verified the required identifying information that you have provided to us) or to any other address or account of your choice.
You authorise us, directly or through third parties, to make any inquiries we consider necessary to verify your identity.This may include:- asking you for further information, such as your date of birth, your physical address and other information that will allow us to reasonably identify you;- requiring you to take steps to confirm ownership of your email address, phone number or financial instruments;- verifying your information against third party databases or through other sources; or- requiring you to provide any other identifying documents.Anti-money laundering and counter-terrorism financing laws may require that we verify the required identifying information if you use certain Oobit services. We reserve the right to close, suspend, or limit access to your Oobit account and/or the Oobit services in the event that, after reasonable enquiries, we are unable to obtain information about you required to verify your identity.
OOBIT IS ONLY A PAYMENT SERVICE PROVIDER
We act as a payment service provider only, we do not:- Act as an escrow agent with respect to any funds sent to you on Oobit that has not been transferred;- Act as your agent or trustee;- Enter into a partnership, joint venture, agency or employment relationship with you;- Guarantee the identity of any user or seller;- Determine if you are liable for any taxes; or- Unless otherwise expressly set out in this agreement, collect or pay any taxes that may arise from your use of our services.
YOUR USE OF INFORMATION; DATA PROTECTION LAWS
If you receive information about any Oobit User, you must keep the information confidential and only use it in connection with the Oobit services. You may not disclose or distribute any information about Oobit users to a third party or use the information for marketing purposes unless you receive that user's express consent to do so. You may not send unsolicited emails to an Oobit customer or use the Oobit services to collect payments for sending, or assist in sending, unsolicited emails to third parties.The privacy and data protection laws that may apply include any associated regulations, regulatory requirements and codes of practice applicable to the provision of the services described in this agreement.In complying with such laws, you will:- implement and maintain all appropriate security measures for the processing of personal data; and- not knowingly do anything or permit anything to be done which might lead to a breach of any privacy data protection laws by us.
Neither party will be liable for delays in processing or other non-performance caused by such events as fires, telecommunications, utility, or power failures, equipment failures, labour strife, riots, war, non-performance of our vendors or suppliers, acts of God, pandemics, or other causes over which the respective party has no reasonable control; provided that the party has procedures reasonably suited to avoid the effects of such acts.
CHANGES TO THE APP
If you have any feedback, questions, or complaints, contact support service via our online chat on our webpage https://oobit.com. In the event of a complaint, please set out the cause of your complaint, how you would like us to resolve the complaint and any other information you believe to be relevant. The support team will consider your complaint without prejudice based on the information you have provided and any information provided by Oobit. Your complaint will be considered within a reasonable time. Support team will offer to resolve your complaint in the way you requested; make a determination rejecting your complaint and set out the reasons for the rejection; or offer to resolve your complaint with an alternative solution. You agree to use the complaints procedure of this Section before filing any claim in a competent court. Failure to comply with this provision may be used as evidence of your unwillingness to settle the issue and/or the vexatious nature of the complaint.
QUESTIONS AND CONTACT INFORMATION
If you need to contact us or have any questions on our Terms, you may contact us as follows:
Email: firstname.lastname@example.orgAttention to: Legal Team
1. OUR SERVICES
Oobit is a blockchain/cryptocurrency payment processor that provides an easy, convenient and fast Service through the Oobit mobile Application (the: "App") or website for transferring, receiving or requesting Crypto between Oobit users or between external contacts and enables you to accept cryptocurrencies as a payment method in exchange for goods or services you sell to your customers ("Shoppers") (the: "Services").By using the Services, you authorize Oobit to act as your agent and to take any and all actions that we think are necessary or desirable to provide the Services and to comply with applicable laws and regulations. Payment by a Shopper to Oobit is considered the same as payment made directly to you and limits the Shopper's outstanding obligations to the extent of the payment.
2. CONTRACTING ENTITY AND REGULATORY COMPLIANCE
The use of the Services is subject to the laws and regulations regarding the prevention of money laundering and terrorist financing. Oobit maintains a comprehensive AML Sanctions compliance program, the Merchant agrees and acknowledges that the use of the Services will comply with such laws and regulations, as summarized in our AML policy.
3. REPRESENTATIONS AND WARRANTIES
4. YOUR MERCHANT ACCOUNT ("ACCOUNT")4.1 ACCOUNT OPENING AND REGISTRATION
As part of establishing a Oobit Merchant Account, you may be asked to submit business-related information such as name, mailing address, physical address, phone number, email address, information relating to the ultimate beneficial owner(s) or the individual(s) having significant control over the business, legal name, company website, bank account details to be used for settlement of transactions made using the Services, the nature of your expected transactions, and your field of industry. You may be asked to submit additional information and/or documents to enable us to verify your identity and assess business risk, such as entity formation documentation, compliance program documentation, and information regarding your Shoppers.The information you provide at the time of opening the Account must be accurate and complete, and you must inform us within seven (7) business days of any changes to such information. Oobit has the right to reject your Account registration, to later close your Account, or to restrict the provision of the Services to you if you do not provide and maintain accurate, complete and satisfactory information.
4.2 TRANSACTION PROCESSING LIMITS
Oobit does not impose daily or annual transaction processing volume limits per Account. Once You complete the full KYB (business identity check), we will allow You to accept crypto with no amount limit.
4.3 PROHIBITED USE AND BUSINESS4.3.1 PROHIBITED USE
In connection with your use of the Services, and your interactions with other users and third parties, you agree you will not engage in the following Prohibited Uses. This list is non-exhaustive and we reserve the right to modify it at any time. It is within our sole discretion to determine whether an activity falls into one of these categories. If you are uncertain as to whether or not your use of the Services involves a Prohibited Use or have questions about how these requirements apply to you, please contact us at email@example.com.-Unlawful Activity: Actions which violate, or would assist in violation of, any law, statute, ordinance, or regulation, including applicable sanctions programs, or which would involve proceeds of any unlawful activity; activity which would publish, distribute or disseminate any unlawful material or information.-Abusive Activity: Actions which impose an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; transmit or upload any material to our computer systems, networks or sites that contain viruses, trojan horses, worms, or any other harmful or deleterious programs; attempt to gain unauthorized access to our computer systems, networks or sites or our other customers' Accounts, computer systems or networks connected to us, through any other means; interfere with another individual's or entity's access to or use of the Service; use information of another party to access or use our computer systems, networks or sites; transfer your Account access or rights to your Account to a third party, unless by operation of law or with the express written permission of Oobit; or harvest or otherwise collect information from our computer systems, networks or sites about others, including without limitation email addresses, without proper consent.-Abusive Actions Against Others: Actions which defame, abuse, extort, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others; incite, threaten, facilitate, promote, or encourage hateful or violent acts against others.-Fraud: Actions which operate to defraud us, our users, or any other person; provide any false, inaccurate, or misleading information to us.-Intellectual property infringement: Transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law, including but not limited to sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder; use of any Oobit intellectual property, name, or logo, including use of Oobit trade or Service marks, without express consent from Oobit or in a manner that otherwise harms Oobit or any Oobit brand; any action that implies an untrue endorsement by or affiliation with Oobit.
4.3.2 PROHIBITED BUSINESS
In addition to the Prohibited Uses, the following categories of businesses, business practices, and items for sale are prohibited from the Services. This list is non-exhaustive and we reserve the right to modify it at any time. It is within our sole discretion to determine whether an activity falls into a Prohibited Business category. If you are uncertain as to whether or not your use of the Services involves a Prohibited Business, or have questions about how these requirements apply to you, please contact us at firstname.lastname@example.org.-Drugs and drug paraphernalia (e.g., narcotics, controlled substances, and any equipment designed for making or using drugs);-Marijuana/cannabis dispensaries and related products and businesses;-Weapons, munitions, gunpowder and other explosives (including fireworks);-Toxic, flammable, and radioactive materials;-Pseudo-pharmaceuticals;-Substances designed to mimic illegal drugs;-Sexually explicit content;-Sexually-related services;-Pyramid and investment schemes, multi-level marketing schemes, and other unfair, predatory or deceptive practices;-Items used for speculation or hedging purposes (such as derivatives);-Credit and collection services;-Items that infringe or violate any intellectual property rights such as copyrights, trademarks, trade secrets, or patents, including counterfeit or unauthorized goods;-Products and services with varying legal status from state to state;-Transactions that disclose the personal information of third parties in violation of applicable law; and-Transactions related to cloud-mining.
4.4 RESTRICTED BUSINESS
If you engage in any of the following categories of businesses, business practices, and items for sale, you will only be allowed to transact as expressly authorized by us and may be required to agree to additional conditions, make supplemental representations and warranties, complete enhanced onboarding procedures, and operate subject to restrictions. This list is non-exhaustive and we reserve the right to modify it at any time. It is within our sole discretion to determine whether an activity falls into one of these categories. If you are uncertain as to whether or not your use of the Services involves a Restricted Business, or have questions about how these requirements apply to you, please contact us at email@example.com.-Charitable organizations;-Religious/spiritual organizations;-e-Wallets;-Foreign and currency exchange services;-Sale or trade of cryptocurrencies;-Transactions associated with purchases of annuities or lottery contracts, lay-away systems, banking, offshore banking, transactions to finance, investing, investment related products; and-Transactions involving gambling or any activity requiring an entry fee and a prize, including but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, and sweepstakes, if you and your Shoppers are located exclusively in jurisdictions where such activities are permitted by law.
4.5 GUARDING YOUR PASSWORD
You will choose a password when registering for your Account. You are responsible for maintaining the confidentiality of your password and Account access credentials. You are fully responsible for all activities that occur with the use of your password or Account. Please notify us immediately if you become aware of any unauthorized use of your password or Account or any other breach of your security which may compromise your password or Account. You may not allow third parties or unauthorized users to use your Account. We will not be liable for any loss that you may incur as a result of someone else using your password or Account, either with or without your knowledge. You may notify Oobit of a security breach regarding your password or Account by emailing us at firstname.lastname@example.org
4.6 RECORDS4.6.1 OUR OBLIGATIONS
Oobit will maintain records of all documentation and information related to your Account for the duration that your Account is active.
4.6.2 YOUR OBLIGATIONS
You are required to maintain all records needed to fulfill orders for goods or services and provide post-sale support to your Shoppers.
4.6.3 REQUEST FOR DOCUMENTATION AND RIGHT TO INSPECT RECORDS
Oobit or its auditors, an appropriate regulator, or other relevant competent authority may request to obtain and inspect certain of your business records with reasonable advance notice or immediately if required by law, a regulator, or other relevant authority. If you refuse such a request, we reserve the right to suspend or terminate your Account.
4.6.4 INFORMATION SHARING
You hereby authorize us to share information about you, your Account and Account activity with law enforcement, regulators and government agencies. We hereby also authorize you to share information about us and our Services to you with law enforcement, regulators and government agencies.
4.7 ACCOUNT SUSPENSION AND CLOSURE4.7.1 YOUR RIGHT TO CLOSE YOUR ACCOUNT
You may close your Account anytime. You will still be obligated to us for any fees incurred, if applicable, before the closure, and we will remit to you funds not yet paid to you and associated with pre-closure sales.
4.7.2 OUR RIGHT TO DECLINE, SUSPEND, OR CLOSE YOUR ACCOUNT
4.7.3 EFFECT OF ACCOUNT CLOSURE
If your Account is closed for any reason, you agree: (a) to continue to be bound by surviving portions of these Terms, (b) to immediately stop using the Services, (c) that the license provided under these Terms shall end, (d) to remove from your website, apps and marketing materials and will discontinue using any Oobit service marks, logos or other branding, (e) that we will retain certain information and Account data as required under applicable laws and regulations, and (f) that we shall not be liable to you or any third party for termination of access to the Services, closure of an Account, or retention of information or Account data.
5. YOUR USE OF THIRD-PARTY SERVICES
In using the Oobit website or the Services, you may separately be offered additional services, products or promotions by third parties. If you decide to use any of these third-party services, you do so at your own risk and are solely responsible for reviewing, understanding and complying with the associated terms and conditions. We expressly disclaim any liability for third-party services and are not responsible for the performance of third-party services or servicers.
6. SECURITY AND WALLET SECURITY6.1 SECURITY
We have implemented security measures designed to protect information from accidental loss and from unauthorized access, use, alteration or disclosure. Our security measures include risk assessments and controls for the following: application and system access, system and application development and maintenance, acceptable use, data classification, incident response, disaster recovery and business continuity, and security training. We cannot guarantee that unauthorized persons will never gain access to your information, and you acknowledge that you provide your information at your own risk, except as otherwise provided by applicable law. If we reasonably suspect or we become aware of a breach of our security measures that may have impacted you, your Account or your information, we will provide you with notice within 72 hours of gaining such suspicion or becoming aware of such breach. Such notice will be provided to your email address included in your Merchant profile.
6.2 DIGITAL WALLET SECURITY
7. PRIVACY AND DATA PROTECTION
Our Privacy Notice, including our GDPR terms, is available at https://www.oobit.com/privacy , and is incorporated by reference into these Terms.
8. OWNERSHIP AND USE OF SERVICES AND INTELLECTUAL PROPERTY
You agree and acknowledge that we own all right, title, and interest in the Services, the associated software, technology tools and content, the Oobit service marks and logos, the Oobit website, the content displayed on the website, and other materials produced by Oobit (collectively, “Oobit IP”). You are only permitted to use the Services and Oobit IP to offer the Services to your Shoppers, according to these Terms. We grant you a personal, limited, revocable, non-exclusive and non-transferable license to use Oobit IP. You shall not rent, lease, sublicense, distribute, transfer, copy, reproduce, download, display, modify or timeshare Oobit IP or any portion thereof, or use Oobit IP as a component of or a base for products or services prepared for commercial sale, sublicense, lease, access or distribution. You shall not prepare any derivative work based on Oobit IP, nor shall you translate, reverse engineer, decompile or disassemble Oobit IP.
9. ADVERTISING AND MARKETING
10. INVOICES10.1 INVOICE GENERATION AND COMPETITIVE EXCHANGE RATE GUARANTEE FOR YOUR SHOPPER
In order to accept a cryptocurrency payment, you need to create a payment request (“Invoice”) using the Services, based on the amount you want to collect in your settlement currency, or in any of the supported cryptocurrencies. Oobit's hosted invoice user interface must be displayed to the Shopper during checkout.When Oobit processes payments, we use Oobit's exchange rate. Once a shopper starts the payment process on Oobit's checkout page, the Shopper will receive a limited time frame, displayed by a timer, on the QR code page. The Shopper has to complete the transaction by the end of the displayed time frame.While we guarantee the exchange rate for the Shopper as long as the Shopper pays within such a time window, you agree that you assume the volatility risk of your settlement currency. For example, if you ask us to collect 75.00 Euro and the Shopper sends the cryptocurrency equivalent within the time window, we guarantee you will receive exactly 75.00 Euro, minus our fee, but we do not guarantee the future value of the Euro (or any other fiat currency) relative to any benchmark. Similarly, if you elect to receive some or all of your settlement in cryptocurrency, we do not guarantee the future value of that cryptocurrency relative to any benchmark.
10.2 INVOICE COMPLETION
An Invoice is considered “complete” by us if it has been fully paid by the Shopper, the corresponding transaction has reached our required number of block confirmations, and the payment has been credited to your Account.The number of confirmations required for a transaction depends on several factors, including the blockchain being used and our internal analysis of risk.We employ risk mitigation techniques such as Eliptic, a Blockchain Analytics service to detect fraudulent payments, such as payments that are at risk of never receiving the required number of block confirmations. However, these measures do not completely eliminate the risk associated with unconfirmed payments.A confirmed Invoice means that payment has been made and the required block confirmations have occurred, such that the transaction has passed our risk validation measures, but it still needs to be credited to your Account.You have the option to inform your Shopper that you have accepted the Invoice as paid before Oobit deems the Invoice completed, e.g. an Invoice payment that is not confirmed. Oobit is not liable for settling Invoices which are not considered fully paid and complete. In other words, if you accept a payment before it is credited by us to your Account ledger, we are not required to settle with you if we determine that the payment was fraudulent or otherwise invalid.
10.3 OOBIT SUPPORTED CRYPTOCURRENCIES
Oobit may add new cryptocurrencies to the Services. Additional cryptocurrencies will be added to the Services on an opt-out basis, such that they will be enabled by default unless you instruct Oobit to disable them. In addition, there may be circumstances that cause Oobit to decide to remove a particular cryptocurrency as a payment option.
10.4 PAYMENT EXCEPTIONS
On the QR code (payment page) in the Oobit App, few scenarios may occur ("Payment Exceptions"):-"Payment Paid On-time" - payment process was successfully completed.-"Invoice Paid Out of time" - the payment was received out of the allocated time frame and partial fees are missing to complete full payment.-"Partial payment" - partial payment was received and fees are missing to complete full payment.-"No payment detected" - No payment was detected by Oobit.-"Timed Out" - payment time has expired.Shoppers will automatically receive a notification via email and/or SMS messaging and/or push notification from Oobit in order to claim the missing fees as applicable.
10.4.1 PARTIAL PAYMENT
Partial payment cannot fulfill an Invoice in full. To complete the transaction, the Shopper will need to click on the "Complete payment" option and complete the transaction. In case the time frame for payment was expired, the Shopper will have to generate a new invoice. The new Invoice will provide the Shopper with a new payment amount based on the then-current exchange rate and a new time window in which to complete the payment.
10.4.4 UNSUPPORTED PAYMENTS
Unless explicitly mentioned on our website or in this Agreement, we do not support or process payments for unsupported coins, tokens, or blockchain forks, collectively known as “Unsupported Payments” ("Unsupported Payments"). Shoppers should not pay an Invoice with Unsupported Payments. If a Shopper transmits Unsupported Payments, the Shopper may lose any perceived value in the Unsupported Payments. Additionally, Oobit assumes no responsibility whatsoever with respect to Unsupported Payments and Shoppers will not be able to recover Unsupported Payments from Oobit.
10.5 DELAYED SETTLEMENT
If we need to conduct an investigation or resolve any pending dispute related to your Account, or if required by law, court order, or at the request of law enforcement, we may delay settlement or restrict access to settlement funds. In the case of a delayed settlement, we will strive to promptly inform you, unless prohibited by court order or law enforcement. We will not be liable to you for any damages or harm caused as a result of such delayed settlement or restricted access. Unless required to delay settlement by law, we are committed to not delay or restrict settlement unnecessarily, and if partial delay or restriction is possible, we will only partially delay or restrict. Once the reasons for delayed settlement or restricted access to settlement funds can be reasonably proven to have been resolved, Oobit will pay the full amount of such funds to you without undue delay.
10.6 ACCOUNT INFORMATION
You will have access to Account information via your dashboard detailing the following:-Activity overview-Full transactions details-Setting, include the tech details that are needed for integration, an option to link a bank account for settlement, and more.You can connect to the service (technically) by a simple API. Should you identify an error, please notify us as soon as possible.11.
REFUNDS11.1 GENERAL PROCEDURES
Oobit can facilitate cryptocurrency refunds to Shoppers on your behalf. You can decide to issue a partial refund or refund the full amount of the initial purchase. You can also decide whether to issue the refund based upon the value in which the relevant goods and/or services were priced (pricing currency) or the amount of the applicable cryptocurrency used to pay the Invoice (payment currency). Refunds will be remitted in the same cryptocurrency used to pay the Invoice. If you do not have enough funds in your Account to cover pending refund requests, we may require you to make a bank deposit to an account specified by us. Any required currency conversion during the refund process will be calculated at a spot rate determined by us.
11.2 DISCLOSURE OF MERCHANT REFUND POLICY
Oobit is not responsible for merchant refund policies, or for verifying that such policies conform to applicable law. We suggest merchants provide a clear refund policy to their customers (including, if applicable, “no refunds are allowed as all sales are final”). For certain industries, a refund policy may not be applicable (e.g., where a service is provided). For refunds in amounts based upon the fiat pricing currency (i.e., the fiat price for the applicable goods/services), Oobit will convert the value of the currency in which the item was priced to the applicable cryptocurrency using the exchange rate at the time the refund is sent to the Shopper.
12. COMPLAINTS12.1 SHOPPER COMPLAINTS
If we receive a complaint from a Shopper and it relates to you or the purchased goods/services, we will send it to you for resolution. We reserve the right to terminate Merchant accounts that receive excessive complaints (see Section 4.7.2, Our Right to Decline, Suspend, or Close Your Account).
12.2 MERCHANT COMPLAINTS
Merchants that wish to register complaints regarding our Services should contact us via: email@example.com
13. SETTLEMENT13.1 METHODS OF SETTLEMENT
The settlement will be made automatically by us once a month to your bank account according to the details you have provided. Oobit will clear payments from your Shoppers to you over the cryptocurrency peer-to-peer payment network and credit your Bank account according to the details you established in your Dashboard. The debits and credits to your Account are funds temporarily held by Oobit until settlement to your bank account can take place. You will receive all settlement in Euro to your bank account. You can choose whether to be exposed to the exchange rate of any cryptocurrency received from a specific transaction or convert each transaction to fiat money (Euros).
13.2 YOUR BANK ACCOUNT
You will be required to provide us with your bank account information for accounting purposes.You must provide us with written notice at least one (1) business day prior to closing your bank account. If you wish to continue to receive direct deposits, you must provide us with information for a substitute bank account. You are solely liable for all fees and costs associated with your bank account and for all overdrafts. You are also liable to us for any fees that we may incur based on your provision of inaccurate information or instructions. You authorize us to initiate electronic credits to your bank account at any time, as necessary to process your transactions. We will not be liable for any delays in receipt of funds or errors in bank account entries caused by third parties, nor will we be liable or responsible for any errors in the account or address information that you have provided to us.
We minimize or eliminate fees wherever we can, there is 0% fee for core transactions like sending or receiving crypto between Oobit users and businesses. Information about the fees we do charge can be found here: https://www.oobit.com/fees.
You agree to indemnify Oobit, its affiliated and related entities, and any of its officers, directors, employees and agents from and against any claims, costs, losses, liabilities, damages, expenses and judgments of any and every kind (including, without limitation, costs, expenses, and reasonable attorneys' fees) arising out of, relating to, or incurred in connection with any claim, complaint, action, audit, investigation, inquiry, or other proceeding instituted by a Shopper, a person or entity that arises or relates to any actual or alleged breach of your representations, warranties, or obligations set forth in these Terms.
16. NO WARRANTIES
EXCEPT AS OTHERWISE SET FORTH IN THIS AGREEMENT, WE PROVIDE THE SERVICES ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND YOUR USE OF THE SERVICES IS AT YOUR OWN RISK. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE PROVIDE THE SERVICES WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED (INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT). WITHOUT LIMITING THE FOREGOING, WE DO NOT WARRANT THAT THE SERVICES (AND OUR WEBSITE): WILL OPERATE ERROR-FREE OR THAT DEFECTS OR ERRORS WILL BE CORRECTED; WILL MEET YOUR REQUIREMENTS OR WILL BE AVAILABLE, UNINTERRUPTED OR SECURE AT ANY PARTICULAR TIME OR LOCATION; ARE FREE FROM VIRUSES OR OTHER HARMFUL CONTENT. WE DO NOT ENDORSE, WARRANT, GUARANTEE OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE OFFERED OR ADVERTISED BY A THIRD PARTY THROUGH THE SERVICES OR THROUGH OUR WEBSITE, AND WE WILL NOT BE A PARTY TO NOR MONITOR ANY INTERACTIONS BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.
17. LIMITATION OF LIABILITY
EXCEPT AS OTHERWISE SET FORTH IN THIS AGREEMENT, IN NO EVENT WILL WE BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR ANY LOSS, THEFT, DISAPPEARANCE, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST DATA OR OTHER INTANGIBLE LOSSES THAT RESULT FROM THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SERVICES, REGARDLESS OF THE FORM OF ACTION AND WHETHER OR NOT WE KNEW THAT SUCH DAMAGE MAY HAVE BEEN INCURRED.IN NO EVENT WILL WE BE LIABLE FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING, VIRUS TRANSMISSION OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES, YOUR ACCOUNT, OR ANY INFORMATION CONTAINED THEREIN.IN NO EVENT WILL OUR LIABILITY FOR ANY DAMAGES ARISING IN CONNECTION WITH THE SERVICES OR THESE TERMS EXCEED THE FEES EARNED BY US IN CONNECTION WITH YOUR USE OF THE SERVICES DURING THE 6 MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY. THE FOREGOING LIMITATIONS OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW.
18. MISCELLANEOUS18.1 TAXES
You are solely responsible for determining any and all taxes assessed, incurred, or required to be collected, paid, or withheld for any reason in connection with the use of the Services. You also are solely responsible for collecting, withholding, reporting, and remitting correct taxes to the appropriate tax authorities. We are not obligated to nor will we determine whether taxes apply, nor calculate, collect, report, or remit any taxes to any tax authorities arising from any transaction.
You may not transfer or assign these Terms or any rights granted by these Terms. You agree and acknowledge that we may assign or transfer these Terms.
Should any provision of the Terms be determined to be invalid or unenforceable under any law, regulation, or court order, such determination will not affect the validity or enforceability of any other provision of the Terms.
A party's failure to assert any right or provision in the Terms shall not constitute a waiver of such right or provision, and no waiver of any term shall be deemed a further or continuing waiver of such or other term.
18.5 ENTIRE AGREEMENT
The Terms, including other of Oobit's terms referenced herein, represents the entire understanding between you and us. Headings are included for convenience only and shall not be considered in interpreting the Terms.
Any notice or other communication given to a party in connection with the Terms shall be in writing in English. Notices may be sent by a recognized overnight air courier and/or by email. The parties agree that all terms, conditions, agreements, notices, disclosures or other communications that we provide to each other electronically will be considered to be “in writing”. The provisions of this clause shall not apply to the service of any proceedings or other documents in any legal action. Oobit may send notices to you at the email and physical address that you submit in creating your Account. You may update these addresses through your Dashboard. Notices to Oobit may be sent to firstname.lastname@example.org.
18.7 GOVERNING LAW
18.8 UPDATES TO TERMS
We may make changes to these Terms from time to time, and if we do, we will notify you by revising the date at the top of the Terms. We will provide email or similar notification if material changes are made to these Terms. Unless otherwise noted, the amended Terms will be effective immediately, and your continued use of our Services will confirm your acceptance of the changes. If you do not agree to the amended Terms, you must stop using our Services.
18.9 FORCE MAJEURE
Neither party will be liable for delays in processing or other non-performance caused by such events as fires, telecommunications, utility, or power failures, equipment failures, labor strife, riots, war, non-performance of our vendors or suppliers, acts of God, pandemics, or other causes over which the respective party has no reasonable control; provided that the party has procedures reasonably suited to avoid the effects of such acts.
A party's “Confidential Information” is defined as any information of the disclosing party, which: (a) if disclosed in a tangible form is marked as “Confidential” or “Proprietary” or if not so marked, should be reasonably understood by the receiving party from the context of disclosure or from the information itself, to be confidential; (b) if disclosed orally or visually is declared to be confidential or, if not so declared, should be reasonably understood by the receiving party from the context of disclosure or from the information itself to be confidential; or (c) is designated as Confidential Information in these Terms. Confidential Information shall include without limitation, information accessed via the Oobit API, technical specifications and processes of each party, and all Merchant data. Each party shall hold the other party's Confidential Information in confidence and shall not disclose such Confidential Information to third parties nor use the other party's Confidential Information for any purpose other than solely as required and necessary to perform its obligations under these Terms. Such restrictions shall not apply to Confidential Information that: (a) is known by the recipient prior to the date of disclosure by the disclosing party; (b) becomes publicly known through no act or fault of the recipient; (c) is received by recipient from a third party without a restriction on disclosure or use; or (d) is independently developed by recipient without reference to or knowledge of the Confidential Information.Notwithstanding the foregoing, a party may share Confidential Information with an affiliate in the event that the other party requests services from such affiliate and such affiliate shall be bound by this Section. In the event Confidential Information is required to be disclosed by a court, government agency, regulatory requirement, or similar disclosure requirement, the party subject to such requirement shall promptly notify the disclosing party upon learning of the existence or likely existence of such requirement and shall use reasonable efforts to avoid such disclosure and, if necessary, use reasonable efforts to obtain confidential treatment or protective order covering any disclosed Confidential Information. The parties' respective obligations to maintain the confidentiality of information disclosed hereunder shall survive the expiration or termination of these Terms or until such time as such information becomes public information through no fault of the receiving party.
The provisions of Sections 3 (Representations and Warranties), 4.7.3 (Effect of Account Closure), 6 (Security and Wallet Security), 7 (Privacy), 8 (Ownership and Use of Services and Intellectual Property), 9 (Advertising and Marketing), 10.5 (Delayed Settlement), 15 (Indemnification), 16 (No Warranties), 17 (Limitation of Liability), and 18 (Miscellaneous) shall survive the termination of these Terms.
18.12 NO JOINT VENTURE OR AGENCY
Nothing in this Agreement is intended to, or shall be deemed to, establish any joint venture between the Parties, and other than the limited agency established in Section 1, nothing is intended to establish either Party as an agent of the other.
18.13 BUSINESS DAYS DEFINED
For the purposes of these Terms, a business day shall be standard business hours on any day excluding Saturday or Sunday.
QUESTIONS AND CONTACT INFORMATION
If you need to contact us or have any questions on our Terms, you may contact us as follows:
Email: email@example.comAttention to: Legal Team
Following large corporations selling off users' personal data and treating it as a commodity, the EU put together a set of laws that prohibit them, and anyone else, from doing so. The General Data Protection Regulation was officially implemented in May 2018 and is a legal requirement for anyone offering digital services in the EU. The GDPR was created to enhance individuals' privacy rights and put significantly enhanced obligations on companies that handle personal data. It is based off of seven principles as outlined below:
- Right to Access. At any point, users can request how their data is being used as well as gain access to their personal data at no charge.
- Right to Erasure. Should a company terminate their or a users' services, the user may request that their data be deleted.
- Right to Data Portability. Users have the right to switch providers, companies may not conduct a “vendor lock-in” and withhold your personal data.
- Right to Be Informed. Companies may not collect users' data without their permission, and must inform the individual on what they will be using it for.
- Right to Restrict Processing. Users can request that their data is only recorded but not processed in any way (used).
- Right to Object. Users can request for the immediate halt of the processing of their data for marketing purposes, and companies must comply.
- Right to Be Notified. Companies need to notify users within 72 hours should there be a data breach that compromises a users' personal data.
While the legislation is centred around protecting your personal data, we're here to cover exactly what that means. In a nutshell, personal data refers to any information that can be used to identify you. This might include:
As we continuously strive to offer you the best service, including data protection, here is a list of activities that we have implemented, under the advisory eye of our Data Protection Officer.
- Thoroughly research the areas of our product and our business impacted by GDPR - COMPLETE
- Appoint a Data Protection Officer - COMPLETE
- Rewrite our Data Protection Agreement - COMPLETE
- Develop a strategy and requirements for how to address the areas of our product impacted by GDPR
- COMPLETE- Perform the necessary changes/improvements to our product based on the requirements:- Suppression Controls
- User Lookup by Email - COMPLETE
- Feedback Consent Controls - COMPLETE
- Implement the required changes to our internal processes and procedures required to achieve and maintain compliance with GDPR - COMPLETE
- Finalize and communicate our full compliance - COMPLETE
Our flagship KYC solution, Oobit KYC, also offers users peace of mind in terms of data storage. Not only does it safeguard your personal data through cutting edge technology and localized encryption and storage, it also minimizes the need to enter your personal information on several different platforms. Rest assured that at no point do we store the information without your consent.
All the data gathered by Oobit is encrypted and stored securely and anonymously. As part of our continuous drive to remain at the forefront of the crypto industry, we regularly evaluate the security measures that we have put in place. We also pride ourselves on staying on top of, and ensuring that we meet, the most recent security regulations, guaranteeing that users can rely on the highest security implementations.
It is recorded that some jurisdictions have strict laws on money laundering that may impose an obligation upon us to report you to the federal or local authorities within such jurisdictions if we know, suspect or have reason to suspect that any of your transactions, amongst other things, involve funds derived from illegal activities or are intended to conceal funds derived from illegal activities or involve the use of the Website to facilitate criminal activity.
If we have knowledge or suspicion envisaged in the above we may:
- immediately suspend, deregister or terminate your Account at the Website; and/or
- at our sole discretion, not refund to you any funds held in such Account; and/or
- furnish any relevant information about you to an intra-group database recording such mischief. You hereby irrevocably authorize us to do so in our absolute discretion.
We reserve the right to report you to the aforementioned federal or local authorities should we, in our absolute discretion; determine that we are obliged, by law, to do so.
In order to assist in the prevention of money laundering we shall use any means available to us, including without limitations, the following:
- Ask all users to fill their identification details when opening an Account and to supply us with all information needed in order to comply with applicable AML-KYC related regulation;
- Keep in possession a secure list of all registered users and their identification and transactional documentation.
- Prevent underage (in accordance with the applicable law in the relevant territory) users from using our services.
- Not accept anonymous Accounts or Accounts in fictitious names such that the true beneficial owner is not known.
- Not accept cash from users. Funds may be received from users only by credit/debit cards and/or by any other payment solution provider(s) integrated into the platform.
- Funds will not be distributed before a strict check for compatibility between the name of the Account and the credit card holder's name and any other means of identification that we may implement at our sole discretion.
- Funds transfer between Accounts is completely forbidden.
- Check the background and other characteristics of any complex or large transactions and any transactions which are particularly likely to be related to money laundering or the funding of terrorism.
- Cooperate with all relevant administrative, enforcement and judicial authorities in their endeavors to prevent and detect any criminal activity.
- If a user is caught providing false information, Oobit have the right to (and may) immediately cancel that person's registration as a user with Oobit.
Oobit has a strict anti-fraud policy and utilizes various anti-fraud tools and techniques. If the user is suspected of fraudulent actions including, but not limited to:
- participating in any type of collusion with other users;
- fraudulent, collusive, fixing or other unlawful activity;
- fraudulent actions against other websites or payment providers;
- chargeback transactions with a credit card or denial of some payments made;
- creating two or more accounts;
- other types of cheating;
Oobit reserves the right to terminate such user Account and suspend all funds to the user. This decision is at the sole discretion of Oobit and the user will not be notified or informed about the reasons of such actions. Oobit also reserves the right to inform applicable regulatory bodies of the fraudulent actions performed by the user.
The Oobit's website is not a financial institution and thus should not be treated as such. Your account will not bear any interests and no conversion or exchange services (including fiat-crypto exchange) will be offered at any time.