Capitalised terms used in these General Terms and Conditions and not specified elsewhere have the following meanings:
API: Application programming interface; documentation of the procedures (services) of a program or system program and their use that may be used by other programs;
Application: shall have the meaning attributed to it in Clause 1.1 of this General Term and Conditions;
Cashback: a refund of money received by the User through the Application. The Partner's goal is to acquire new customers and retain old customers through a loyalty program provided by Cashback to the User
Company: APPSPECT Application Operating Limited Company (European Banking Authority ID: 25434336, represented in the United Kingdom by its wholly owned subsidiary, Recash Application Operating Ltd. with its registered office at 160 Kemp House City Road, London, England, EC1V 2NX);
Company’s Bank: Transferwise Limited (European Banking Authority ID:900507);
Parties: shall mean the User and the Company individually the “Party”, collectively the “Parties”;
Partner: a legal entity that has a contractual relationship with the Company and provides a refund of money to the User paying by credit card through the Application;
Partner Transaction: a credit card payment transaction where the User has paid for goods or services at the Partner;
PSD2: European Union Directive 2015/2366 / EU;
Push Message: messages that pop up on the User's mobile device from the Application and are specifically intended to inform or prompt the User to take action;
User: the individual registrant of the Application who gives consent to the Application through the User’s Bank for access to the User Data by the Company;
User Account Limit: the lower value of the amount of Cashback received by the User as defined in the Application, which, upon reaching the amount reduced by the transfer fee, will be paid by the User. The actual amount of the User Account Limit shall be [*];
User's Bank (s): commercial banks that issue (s) the bankcard (s) required to use the Application;
User Data: the aggregate of data that the Application receives from the User's Bank through the PSD2 Banking APIs with the User's permission;
Virtual Account: Data set used by the Application Backend to record the amount of Cashback assigned to a given User; and
Website: Website with https://recash.app access address operated by the Company for Users.
1. Description of the Service to be Provided as an Account Information Service Provider
Application is a native mobile application with RECASH working name operated by the Company, as well as the related websites and other systems that are described in 1.2 and 1.3. (hereinafter referred to as "Application"). The Application Operator is the Company, that is a payment institution performing account information service pursuant to the relevant laws.
1.2 Operation of the Application
Application is a mobile and web-based platform that keeps track of its Users’ credit card purchases with its marketing Partners, and promotes committed buyers with long-term commitment to its advertiser Affiliate Partners providing discount offers.
The steps in the operation process are:
1.2.1. User Registration
User downloads the Application from the appropriate application store (Appstore, Google Play Store) and registers with an email address and password.
1.2.2 The User Provides Access to the Application
After registration, the User is redirected to the User's Bank interface, where the User grants the Application permission to access the User Data (including but not limited to credit card debit transactions). The Application will have access to the following information after granting the User permission:
- the User's credit card number (in masked form);
- the date of the User's credit card transaction;
- the amount of the User's credit card transaction;
- the currency of the User's credit card transaction; or
- the merchant identification code allocated to the card acquiring terminal used for the card transaction.
The Application is a service provided to the Users solely upon the Users’ express consent described in Clause 1.2.2. of this General Terms and Conditions. The Application shall have access only to information on the payment accounts specified by the User and the related payment transactions the data content of which is described in Clause 1.2.2.
Upon granting such permission by the User, the Company shall clearly inform the User, through the Application, of the purpose for which the Application access data after granting of such permission by the User, namely, solely for the purposes of:
- identifying Partner Transactions;
- settlement with Partners; as well as
-a operating an effective in-App referral system for Users.
1.2.3. The User is Informed About the Partners
In the Application, the User will be informed about the Cashback Partners. The User may search for them in the Application (including geographic location or rate of Cashback), sort them into categories, get more information about the Partners, or access them through the app (over the phone or over the Internet).
1.2.4. The User Pays with His / Her Credit Card at the Partner
The User - with a bank card issued by the User’s Bank for which he / she has provided the information specified in Clause 1.2.2 above - makes a payment to one of the Partners.
1.2.5. The Application will Notify the User of the Cashback Regarding the Respective Transaction
The User shall be notified that the Application has credited a Cashback on his Account administered by the Application with respect to the fact that the User has made a payment at the Partner.
1.2.6. Payment to Users
If the amount accrued in the User's Virtual Account reaches the User Account Limit, the User may request payment from the Virtual Account to the bank account he / she at maintains at the User's Bank (the data of which has been provided to the Company) when using the Application. Therefore, the Company shall not open and maintain a real account for the User, only a Virtual Account. If the User purchases a product or service from any of the Partners, the Company shall be notified based on the account information. The settlement of the consideration for the product or service shall be settled between the User and the Partner and the Company shall not participate in the payment process in any way.
Based on the transaction and payment information regarding the Users gathered by the Company during the course of providing the account information services, the Company shall grant a Cashback to encourage buying. The portion of the Cashback less the transfer cost as per Clause 2 of these General Terms and Conditions shall be transferred by the Company to the account number provided by the User should the amount thereof reaches the User Account Limit and is claimed by the User through the Application or the contract between the Parties is terminated.
The Company manages the respective amount of Cashbacks on the account or accounts maintained by the Company prior to the payment thereof to the Users. Accordingly, the Company shall, based on the data of the Virtual Account and upon request of the User, instruct its payment service provider or account manager to execute a payment of the Cashback (deducted by the transaction costs as set forth in Clause 2 of this General Terms and Conditions). In this case, therefore, the Company shall be considered as payer and the User as beneficiary and the management of the Virtual Account by the Company is solely part of the provision of account information services.
The amounts on the Virtual Accounts shall bear no interest
1.2.7 Changing User Account Limit
The Company shall be entitled to modify the User Account Limit for business reasons, in particular with reference to risk management aspects, but shall notify the Users thereof in the form of a Push Message sent through the Application for the first time at least 60 days prior to, and at least 30 days thereafter as well as by sending a message to the email provided by the User upon registration.
1.3 Contracts Between the Parties
The Company does not enter into a separate agreement with the Users. The legal relationship between the User and the Company shall be established upon express acceptance by the User (by clicking, selecting and selecting the "Accept" button in the blank field under "Accept") of the actual general Terms and Conditions that is received by the User in the confirmation email generated upon registration and that shall available to the User in advance, in pdf. format that is capable of being electronically saved. The User may contact the Company by using any of the contact details set forth in Clause 11 of these General Terms or the Application in order to request information before entering into a legal relationship. The Company shall comply with such requests without delay, but no later than 30 days after such request.
2. Payment Terms, Owning Funds
The Company is not entitled to any consideration for the use of the Application by the Users. Users shall have no payment obligation towards the Company and are not required to pay any commissions, fees, interest or any other costs to the Company. If, for any reason, a conversion between the currencies is required at the time of transfer to the User, settlement shall be made at the official selling rate of the Company’s Bank for the currency in question indicated on the Bank's official website as of the respective date.
The User shall bear any and all costs associated with the transfer of the Cashback to the User's Bank Account (including, but not limited to, the transfer costs, fees, or any statutory costs, fees, fees or taxes) of the Company’s Bank by deducting them from the amount of the Cashback, so that the amount of the Cashback, less any transfer costs, shall be credited to the User's Bank Account, subject to these General Terms and Conditions. The Company shall disclose the current transfer costs associated with the Cashback and deducted by the Company besides the amount actually transferred, where applicable separately, item by item. The Company shall not be entitled to pass on any other costs to the Users other than the costs relating to the transfer as set forth above. The Company shall not have any access to the funds held in the accounts kept at the Users’ Banks in any way, nor should it dispose over such funds in any form.
3. Operation at Other Locations
The Company may provide the above-described account information service in other Member States of the European Union upon fulfillment of the required legal and operational requirements.
4. Professional Liability Insurance
The Company has professional liability insurance at Colonnade Insurance Company (https://colonnade.hu) in accordance with the principles set out in PSD2 and the conditions set by the competent regulatory authorities.
5. Other Terms
The offers made by the Partners are considered to be electronic advertisements to promote the sale of the goods or services concerned.
The Users may withdraw their consent to the direct marketing requests referred to above at any time without limitation or reasoning and free of charge. The Company shall provide the User with the opportunity to make a cancellation statement or to block a promotional mail addressed to the User at the notification addresses specified in Section 11 of these General Terms and Conditions either by mail or by e-mail.
Partners may suspend or withdraw their offers at any time before the respective expiration dates within the shortest possible period allowed by the technical parameters of the Application.
In the event of any specific operational or security event related to the Application, or if the Users proper use of the Application is disturbed (including, but not limited to, suspected or actual fraud or security threats that may jeopardize the operation of the Application), the Company shall be obliged to inform the Users, without undue delay, of any available measures that may be taken to mitigate the adverse effects of the event, in the form of a Push Message through the Application or, failing that, by sending an e-mail to the User that was provided thereof upon registration. Simultaneously with the foregoing, the Company may upon its sole discretion suspend the operation of the Application for a period not exceeding 30 calendar days until such time as the abovementioned operational or security event or threat is resolved. The Company is required to notify the Users of the re-launch of the Application by sending a Push Message via the Application and by sending an e-mail from the Partner upon registration.
If the availability of the Application is suspended for more than 30 calendar days, the User is entitled to request the transfer of the amount in his Virtual Account less the transfer cost as per clause 2 of these Terms and Conditions, regardless of the User Account Limit. In this case, the User may request the Company to provide the current balance of his / her Virtual Account as well as to make the payment referred to in this Clause by sending a mail or e-mail to the addresses specified in Clause 11 of these General Terms and Conditions. The Company shall meet the User's payment request under this Clause within 15 days.
The Partner acknowledges that the Application may only be used on smartphones with iOS and Android operating systems and is only compatible with Android version 4 and above.
The User acknowledges that the Application and Website availability may be interrupted, suspended or terminated from time to time for any reason within or outside the Operator's sphere of influence and may not assert claims against the Company on such basis.
The User acknowledges that the Company shall not be responsible for any data lost during transmission on the Internet. The purpose of the Company is to make the application and the related website available 7 days a week, 24 hours a day, but there may be times when the Application's mobile or web interfaces are unavailable (for example due to necessary software updates).
The Company shall take all reasonable steps to ensure that the Website and the Application are reliable and secure and free from viruses. However, the Company shall not be liable for any damages to User's assets resulting from the use of the Application.
The User shall be obliged to act in accordance with the requirements of good faith and fairness in the use of the Application and the Website, in compliance with the relevant legal requirements. Consequently, Partner may not use the Website or the Application to distribute infringing content, computer viruses, or unauthorized data collection.
The Partner is expressly liable to the Company for any damage sustained by the Company as a result of the irregular and / or unlawful use by the Partner of the Application or the Website.
6. Limitation of Liability
The Company establishes a contractual relationship solely with its registered Users and only displays the Partner's offers on the registered Users smartphones.
The Company shall not control or examine the quality of the services marketed by its Partners, and whether the contents of their offers uploaded to the Application are accurate or true.
Partners may suspend or permanently withdraw their active offers at any time through the Partners' in-App interface.
The Company shall only display the Partners' offers to the Users, but shall not assume any liability for the actual use of such offers. The Company also assumes no liability for the quality, properties, suitability for proper use of the goods or services contained in the offers, and for the fulfillment of other terms and conditions contained in the offer.
In case of using a promotional offer, the User will enter into a contractual relationship solely with the Partner making its offer, and may only make any claim in respect of the goods or services purchased under such offer.
7. Intellectual Property
The Application, the Website and all content, description, graphics, illustrations on the Website are the sole property of the Company and, where applicable, of the Partners. The Website shall be considered as collector's work and is protected by copyright.
It is prohibited to make any copies of the contents of the Website or the Application in any form, to record, re-produce, distribute, transmit, download, edit, resell or publish. The use of the Website or the content of the Application for any purpose shall be possible only with the prior written consent of the Company.
Any infringement of the Company's intellectual property will result in the offender being held liable.
8. Error Reporting, Complaint Handling
Users may report bugs in connection with the operation of the Application by sending an e-mail to email@example.com operated by the Company or from 8 am to 8 pm on business days at +36-302412426. The rules governing the Company's remedial actions following the filing a complaint shall be governed by Section 5 (3) of these General Terms and Conditions.
Users may file complaints regarding the Application by email, in person, or by telephone to firstname.lastname@example.org operated by the Company.
The Company shall have the possibility of verbal complaints every working day between 8am and 4pm at 160 Kemp House City Road, London, England, EC1V 2NX
With a verbal complaint on the phone, Users may call +36-302412426 every business day from 8 am to 8 pm.
The Company shall investigate complaints submitted by the Users within 15 business days, providing that if all elements of the complaint cannot be responded to within 15 business days due to reasons beyond the Company's control, the Company shall send a provisional response to the User, stating the reasons for such delay as well as the final deadline for the response. However, the deadline for providing the final response may not be later than the 35th working days after the complaint has been submitted by the User.
9. Data Protection
The Company shall not use or store data for any purpose other than the account information service explicitly requested by the User. For the avoidance of doubts, however, the obligation under this Clause shall not limit the Company's right to transmit targeted offers or to conduct other similar marketing activities to its contracted Users.
10. Amendment of the General Terms and Conditions
The Company is entitled to modify these General Terms and Conditions to the disadvantage of the Users for business reasons, in particular risk management, changes in the applicable legal environment and the increase in the Company's operating costs. In this case the Company shall notify the Users in the form of a Push Message sent through the Application or via a message sent to the User at the e-mail address provided during registration. The notification shall be made at least 60 days prior to such modification for the first instance and at least 30 days prior to any further modification(s) thereafter.
The amended General Terms and Conditions shall take effect on the date specified therein. If, after the amended General Terms and Conditions enters into force, the User uses any of the services provided by the Application, she/he shall be deemed to have accepted the amended General Terms and Conditions.
Until the day before the respective amendment comes into force, the User shall be entitled to terminate these General Terms and Conditions with immediate effect and without any fees, costs or other payment obligations.
Each Party is entitled to unilaterally terminate the Terms and Conditions by giving 30 days' notice. In the event of an ordinary termination, the Company shall settle all relevant User accounts without applying the User Account Limit and make any payments to the Users, subject to Section 2 of these General Terms and Conditions, upon termination of the legal relationship at the latest.
In the event of a serious breach of contract by the other Party, the non-breaching Party shall have the right to terminate these Terms and Conditions with immediate effect.
The termination of a User may be validly exercised by sending an email to the Company's email@example.com email address and the termination of the Company shall be validly exercised by sending an e-mail to the User’s email address provided upon registration.
The Company shall comply with its obligation to provide information, in the specific cases set out in these General Terms and Conditions, in the form of a message sent to the Application and to the e-mail address provided by the User upon registration. The Company shall grant that the User may, at any time, access the applicable General Terms and Conditions from the Website in a downloadable form. The language of communication between the User and the Company shall be English.
The Company also provides contact information to Users through the following contact details:
12. Governing law, dispute resolution
The present General Terms and Conditions shall be governed by the laws of England and Wales. The parties shall attempt to settle their disputes primarily through peaceful means. If such attempt to resolve the subject matter fails, the parties shall submit themselves to the ordinary courts of England and Wales.