TERMS AND CONDITIONS – Valens Pay which is a Trading Name of Valens Pay Limited (“Valens Pay” or “the Company”)
INFORMATION ABOUT US
Valens Pay is a Trading Name of Valens Pay Limited which is licenced by and registered with FINTRAC as a Money Service Business with FINTRAC license no. M21914872 as required by the Canadian Federal Law combating money laundering and terrorism financing for businesses such as Valens Pay in the financial sector. Any licensing or regulatory enquiries or complaints about the Company and its services should be addressed to the Company at its Registered Address.
As used in these Terms and Conditions, “Valens Pay Limited” or “Valens Pay” or “Valens” or “the Company” or “us” or “we” refers to the company Valens Pay Limited, registered in Canada with the British Colombia Register under the company number BC1278918 with its registered address at 302-540 Lawrence Avenue, Kelowna V1Y 6L7, British Colombia, Canada. For the purposes of these Terms and Conditions the Company is referred to from time to time as Valens Pay.
Valens Pay is not a bank and, as such, is not part of a depositor protection scheme. Valens Pay is an Anti Money Laundering and Fintech introducing platform which connects its Members to licensed third party service partners.
When you register on the Valens Pay platform/s you consent to your data being shared immediately with third parties who we have contracted with to offer and provide you with their services. Your identity verification information and documents will be shared with some or all of our third party service providers, some of whom may be disclosed in the Valens Pay Privacy Statement as varied from time to time. An ewallet will be opened for you when you successfully register with Valens Pay, which may be with one of our third-party service providers. When you perform other actions via the Valens Pay platform, your identity verification information will most likely be securely shared with the other relevant licensed service partners in order to provide the services. Any and all customer funds are deposited with third party providers and are securely held by licensed banks and/or Central Banks.
Valens Pay is a trademark of Valens Pay Limited.
References to Valens Pay are also references to its owners, directors, investors, employees.
By using this website (“Site”), registering for a Valens Pay Account (“Account”) or using any other Valens Pay Services, you (“you, your, or yourself”) are agreeing to accept and comply with the Terms and Conditions stated below (“Terms and Conditions”). You should read the entire Terms and Conditions carefully before using this Site or any of the Valens Pay Services.
By accessing or using the Service you agree to be bound by these Terms and Conditions. If you do not agree with and accept all the Terms and Conditions quoted herein, then you may not access and or use the Services of the platform.
By accessing or using the Services promoted on the platform you will become introduced to certain third party partners of our choosing with whom we have commercial arrangements. If you accept an introduction and apply for services described as being available to you on our platform, you herby acknowledge that you do so at your own risk with no warranty from us whatsoever and that you are aware that you will be entering into a services agreement with a third party and not with the Company. You acknowledge that it is your responsibility to ensure that the services provided by third parties are appropriate for you and your needs. You acknowledge that the Company may receive initial and ongoing fees and commissions from introductions made to third parties and from business undertaken via third parties and the Company will only disclose the details of those fees and commissions where required to do so by law. You acknowledge that when following a link to services via the platform that you may in fact leave the Company’s platform, website and/or URL and you may become hosted upon the IT systems of the introduced party which may be in a different country to both you and the Company. Valens Pay agrees to be bound by these Terms and Conditions. If you do not agree with and accept all the Terms and Conditions quoted herein without amendment, then you may not access and or use the Services of the platform. Depending on your country of residence, you may not be able to use all the functions of the Site. It is your responsibility to follow the rules and regulations applicable in your country of residence and/or country from which you access this Site and Services. As long as you agree to and comply with these Terms and Conditions, Valens Pay grants you the personal, non-exclusive, non-transferable, non-sublicensable, and limited right to enter and use the Site and the Service.
IF YOU DO NOT OR YOU CANNOT ACCEPT THE TERMS AND CONDITIONS OUTLINED IN THIS AGREEMENT, DO NOT ACCESS THIS SITE AND DO NOT USE OUR SERVICE/S.
Beneficial Owner: Any natural person who owns the Client (a legal person or a foreign undertaking) or controls the Client and/or the natural person on whose behalf a transaction or activity is being conducted.
Buyer(s): Member(s) that are submitting an offer to buy services through the Service.
Commission or Fee: The charges or fees payable by you to us for the Services as set out in the Terms and Conditions and its supplements or on a transaction basis.
Company: Means Valens Pay Limited and its brand Valens Pay, a Canadian company registered with the British Colombia Companies Register under the company number BC1278918 and with Money Service Business license no. M21914872, issued by FINTRAC, Canada.
Member(s) or Client(s): A natural or legal person, accepted by the Company as its Client to whom services will be provided by the Company under the Terms.
Personal Data: Information that identifies an individual, such as name, address, e-mail address, trading information, and banking details. “Personal Data” does not include anonymized and/or aggregated data that does not identify a specific user.
Price: The “price per service” for which Members are willing to purchase or sell, using the Service in a purchase or sell transaction. The Price may be expressed in any of the currencies deposited by Members in their Account and supported by the Service. See our Site for a full list of services.
Seller(s): Member(s) that submit an offer to sell through the Service.
Service(s): The technological platform, functional rules, client KYC & AML verification and market managed by Valens Pay to permit Sellers and Buyers to purchase and sell Services provided by licensed partners of Valens Pay.
Transaction: Includes the following (as available from time to time):
BUSINESS MODEL AND SUPERVISION
The business model and Service(s) of Valens Pay is to act as an Anti Money Laundering Licenced Money Services Provider and fintech platform for companies and individuals. The Company aims to facilitate the introduction of its customers and members who have met the Anti Money Laundering standards of its authorising body FINTRAC, to third party providers to facilitate, through their platforms, enabling customers to open bank account(s) and/or order debit card(s) for Members, and/or convert funds between different currencies among other services, as available from time to time as provided by third parties and not Valens Pay itself. Aerapass Group is a Third Party provider, and by using our services, you have accepted the Terms of Aerapass Group as well. Their full terms can be found here; https://aerapass.io/terms.html. UAB Pyrros Lithuania is a Third Party provider, and by using our services, you have accepted the Terms of UAB Pyrros Lithuania as well. Their terms can be found here; https://www.pyrrospayments.com/privacy-policy and their terms regarding the use of MasterCard here. Sum and Substance Ltd. is a Third Party provider, and by using our services, you have accepted the Terms of Sum and Substance Ltd. as well. Their terms can be found here; https://sumsub.com/privacy-notice-service/.
ACCOUNT APPLICATION AND VERIFICATION
It is understood that we are not required or under any obligation (and may be unable under Applicable Regulations, including without limitation anti-money laundering checks, etc.) to accept a person and / or a Corporation as our Client. It is further understood that we reserve the right to impose additional due diligence requirements before we might accept Client(s) residing in certain countries or whenever this is required by the Company or our partner’s policies.
Clients are only allowed to create only one Active Profile per Client with the Company. In the event that the Client has more than one Profile with the Company, the Company reserves the right to treat them as if they were under one Account and request the Client to choose the Main Profile in order for the duplicate Profile(s) to be terminated and/or merged (if technically possible). Failure to choose a Profile that is to remain will lead the Company to choose a Profile to keep and a Profile/s to keep, merge or close.
ACCOUNT OPENING ELIGIBILITY
The Services are available to, and may only be used by, individuals or companies who can form legally binding contracts under the law applicable to their country of residence.
By registering for an Account, you expressly represent and warrant:
Without derogating from the above, the Company reserves the right, acting reasonably, to suspend and/or refuse access to and use of the Company’s service(s) and/or system(s) and/or Platform to anyone in our sole and absolute discretion.
MAINTAINING YOUR ACCOUNT
The Company’s site/s are for your personal and non-commercial use only where you are an individual. Where you are a Corporation, the Company’s site/s are only for the commercial use by the Corporation and not for any personal use by the directors or employees or agents of the Corporation. We are vigilant in maintaining the security of our Site and Service. By registering with us, you agree to provide Valens Pay with current, accurate, and complete information about yourself, as prompted by the registration process, and to keep such information updated. Failure to do so constitutes a breach of these Terms and Conditions which may result in immediate termination of your account on our Service. You further agree that you will not use any Account other than your own, access the Account of any other Member at any time, or assist others in gaining unauthorized access.
The creation or use of Accounts without obtaining prior express permission from Valens Pay will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software, or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and Valens Pay may elect to take further action against you.
You are also responsible for maintaining the confidentiality of your Account information, including your password, and safeguarding your account and all activity including Transactions that are posted to your Account. In case of transactions be aware that they might be irreversible once sent, so be sure to carefully confirm the details before initiating a transaction. Any actions on the Site, transactions, orders and operations initiated from your Account or using your password (1) will be considered to have been made by you, and (2) is irrevocable once validated using your password or made through your Account. If there is suspicious activity related to your Account, we may, but are not obligated to, request additional information from you, including authenticating documents, and freeze any transactions pending our review. You are obligated to comply with these security requests or accept the termination of your Account. You are required to notify Valens Pay immediately of any unauthorized use of your Account or password, or any other breach of security, by email to
Lastly, you agree that you will not use the Service to perform criminal activity of any sort, including but not limited to money laundering, illegal gambling operations, terrorist financing, malicious hacking or any criminal or illegal activity.
TOP UP / ADD MONEY
You may be provided the option to add funds to your Account using Cards. Valens Pay does not allow Card payment from or on behalf of third parties or anonymous transactions. The Card you choose to add funds to Valens Pay Account(s) must belong to you and must be in your name. We do not accept card payments from people who are not you. We may require you to provide us with documents to verify the details, and the ownership of your payment method. If we cannot verify the details of your payment method, or if we cannot verify that the payment method belongs to you, you will not be able to deposit money into your Account, and therefore will not be able to use our Services.
All transactions are checked and may be processed up to a certain amount, as it may be defined by the Company from time to time, automatically. First-time deposits may be processed automatically; however it remains on the Company’s discretion to request further documents in order to establish and verify the ownership of the used card in case discrepancies have been detected upon manual ex-post check.
The Company reserves the right to request the Client at any time to provide any documentation to confirm the source of funds deposited into the Client Account. The Company shall have the right to reject a deposit from the Client if the Company is not duly satisfied as to the legality of the source of funds.
Lastly, the Company accepts no responsibility for fees or charges applied on any transaction by your financial institution and/or currency exchange rates resulting from the payment of such amount. Consequently, such fees or charges shall be fully borne by you.
By registering for an Account, you expressly represent and warrant:
That you have accepted these Terms and Conditions; and
That you are of legal age and have the full legal capacity to accept these Terms and Conditions.
TRANSFER / WITHDRAWAL
You may withdraw funds from your Account at any time in accordance with the Terms and Conditions, using a bank transfer option (SEPA, FASTER PAYMENTS and/or international transfer). Valens Pay will process the request provided the following requirements are met:
You further acknowledge and accept that the expected destination of outgoing transfers/payments will be the same as with the expected destination of incoming of funds. You may not be allowed to withdraw your funds by any other method, or to any other country, apart from your country of residence.
Our fees include both fixed and variable charges. Some fees are one-off and other fees are charged disclosed on a per transaction basis.
Other charges: The Company reserves the right to charge extra service fees for any documents requested by you for a personal use such as but not limited to acknowledgement letters, account confirmation letters for tax purposes or communication retrieval other than already included in the dedicated section for data transfer on the Client’s portal. The Company will communicate the fees to you upon receiving a request for any of the requested documentation.
Chargebacks and similar costs, that may arise from incorrect transactions will be borne by you.
All card fees are managed and processed by Valens Pay London Ltd., 35 High Street Wimbledon, London, SW19 5BY England, Company no. 14572039. Any refunds or claims must be addressed to
CARD FEES REFUND POLICY
All Valens Pay card fee refunds are managed and processed by Valens Pay London Ltd. Valens Pay is not obliged and will not return fees to Clients due to wrong input or information from the Client during the onboarding process or during usage of the platform, be wrong industry, country, name etc., hence Valens Pay is not responsible and will not refund onboarding or transactional fees for Client typing mistakes or wrong information. In the specific case of onboarding fee, if mistakes are derived directly by Valens Pay, the Client will get refunded the onboarding fee. If Valens Pay cause an error, the Client must inform Valens Pay at
DEDICATED ACCOUNT OPENING
By using the Platform, you are required to agree to the respective Agreements, Terms and Conditions and Privacy Policies of our authorized Valens Pay partners, depending on the services you would like to use. You may be prompted to read and acknowledge these legal documents upon applying for such product or service on or via the Valens Pay Platform. Please read them carefully.
The Terms and Conditions enter into force on the day you register for the Profile and are valid as long as you have an Account with us. We may terminate or suspend your account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms and Conditions.
Upon termination, your right to use the Service will immediately cease. If you wish to terminate your account with us, you may simply discontinue using the Service.
However, do note that you may not close your Account / terminate this Terms and Conditions to avoid an investigation. If you attempt to close your Account / terminate this agreement while Valens Pay is investigating, we may freeze the Profile / Account (s) to protect all parties to the Valens Pay services, its affiliates, or a third party against any liability. You will remain liable for any obligations related to your Valens Pay Account and your activity even after it is closed.
The termination of your Profile / Account will not affect any of our rights or your obligations arising under these Terms and Conditions. Any terms which by their nature should survive, will survive the termination of your Profile / Account.
LIMITED RIGHT OF USE
Unless otherwise specified, all Materials on this Site are the property of Valens Pay and are protected by copyright, trademark, and other applicable laws. You may view, print, and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational, and/or non-commercial use, provided you comply with all copyright and other proprietary notices.
The trademarks, service marks, and logos of Valens Pay and others used in this Site are the property of Valens Pay and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Site belongs to Valens Pay. The Trademarks and Materials should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected, or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark, and other applicable laws, and could result in criminal or civil penalties.
AVAILABILITY OF SERVICES
All services are provided without warranty of any kind, either express or implied, and in particular without implied warranties of merchantability and fitness for a particular purpose. We do not guarantee that this Site will be available 100% of the time to meet your needs. We will strive to provide you with the Service as soon as possible, but there are no guarantees that access will not be interrupted or that there will be no delays, failures, errors, omissions, or loss of transmitted information.
We will use reasonable endeavours to ensure that the Site can be accessed by you in accordance with these Terms and Conditions. However, we may suspend the use of the Site for maintenance and will make reasonable efforts to give you notice of this. You acknowledge that this may not be possible in an emergency, and accept the risks associated with the fact that you may not always be able to use the Site or carry out urgent transactions using your Account.
APIS AND WIDGETS
We may provide certain parties with access to specific data and information through our API (Application Programming Interface) or widgets. We also may provide widgets for your use to enter our data on your Site. You are free to use these in their original unmodified and un-altered state.
Valens Pay makes no representations whatsoever about any external or third-party website you may access through the Site. Occasionally, the Valens Pay website may provide references or links to other websites (“External Websites”). We do not control these External Websites or third-party sites or any of the content contained therein. You agree that we are in no way responsible or liable for the External Websites referenced or linked from the Valens Pay website, including but not limited to website content, policies, failures, promotions, products, opinions, advice, statements, prices, activities and advertisements, services, or actions, and/or any damages, losses, failures, or problems caused by, related to, or arising from those sites. You shall bear all risks associated with the use of such content.
External Websites have separate and independent Terms and Conditions and related policies. We request that you review the policies, rules, terms, and regulations of each site that you visit. It is up to you to take precautions to ensure that whatever you select for your use is free of items such as viruses, worms, Trojan horses, and other items of destructive nature.
Valens Pay does NOT provide any investment advice in connection with the Services described in these Terms and Conditions. Any decision to use Valens Pay’s services or other available services through other Partners, is solely your decision and we shall not be liable for any loss suffered.
DISCLOSURES TO LEGAL AUTHORITIES AND AUTHORIZED FINANCIAL INSTITUTIONS
We may share your Personal Data with law enforcement, data protection authorities, government officials, and other authorities when:
LIMITATION OF LIABILITY
To the extent permitted by law, Valens Pay will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect, or consequential loss, unless the loss suffered arose from gross negligence or wilful deceit or fraud. Nothing in these Terms and Conditions excludes or limits the liability of either party for fraud, death, or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not be limited or excluded by law. Although Valens Pay endeavours to provide accurate and timely information on the Site, the Site may not always be entirely accurate, complete, or current and may include errors. We may change or update the Site at any time without notice, and you should accordingly verify with independent sources all information before relying on it to take decisions or actions. You remain entirely responsible for your decisions and actions.
We can face technical or system error which is beyond the Company’s reasonable control. There may occur events such as power supply, telecommunication issues, natural disasters etc. that cause system interruption beyond the service providers’ control. When such an error occurs during the execution of clients’ requests the Company accepts no liability with the exception of any grossly negligence, fraudulent, dishonest or criminal conduct on the part of the Company, its directors, its officers or employees when acting within the scope of the service agreement (Terms and Conditions).
Subject to the foregoing, Valens Pay‘s aggregate liability for claims based on events arising from or in connection with any single Member’s use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) 100% of the amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).
You should be also aware that in some cases intermediary banks may hold the funds you attempt to deposit or withdraw from your Account, which may delay the transfer of funds and which the Company has no control over. The Company will not be held liable for such actions or omissions by intermediary banks.
Your use of the Service is at your sole risk. The Service is provided on an “AS IS” and “AS AVAILABLE” basis. The Service is provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, non-infringement or course of performance.
Valens Pay, its subsidiaries, affiliates, and its licensors do not warrant that a) the Service will function uninterrupted, secure or available at any particular time or location; b) any errors or defects will be corrected; c) the Service is free of viruses or other harmful components; or d) the results of using the Service will meet your requirements.
To the full extent permitted by applicable law, you hereby agree to indemnify Valens Pay and its partners against any action, liability, cost, claim, loss, damage, proceeding, or expense suffered or incurred if directly or indirectly arising from your use of Valens Pay’s Sites, your use of the Service, or your violation of these Terms and Conditions.
If we hold cash or crytocurrency, and we are unable to contact you and have no record of your use of the Valens Pay Services for several years, applicable law may require us to report the cash or crytocurrency as unclaimed property to the authorities in certain jurisdictions. We will try to locate you at the address shown in our records, but if we are unable to, we may be required to deliver any such cash or crytocurrency to the authorities in certain jurisdictions as unclaimed property. We reserve the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
If we are unable to perform the Services outlined in the Terms and Conditions due to factors beyond our control including but not limited to an event of force majeure, change of law, or change in sanctions policy, we shall not be liable for the Services provided under this agreement during the time period coincident with the event.
MODIFICATION OF TERMS
Valens Pay reserves the right to change, add, or remove parts of these Terms and Conditions at any time and at its sole discretion. Your continued use of the Site following changes to the Terms and Conditions signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms and Conditions.
We reserve the right, at our sole discretion, to modify or replace these Terms and Conditions at any time.
By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, please stop using the Service.
Unencrypted email messages sent over the Internet are not secure and Valens Pay is not responsible for any damages incurred as a result of sending email messages in this way. We suggest existing Members always log in to the Valens Pay site and use the internal support messaging system by clicking “Support” in the footer menu or, for non-Members, always send email in encrypted formats. You are welcome to send PGP encrypted emails to us. The instructions and keys to do so are available upon request. Please never send us or anyone else your password by email.
If you send unencrypted or unsecured email or other types of communications to us, we may respond using the same channels and you hereby accept the risks associated therewith.
Valens Pay will never contact you from an email account that does not end with @tradestyle.com. If anyone, including a person that you know to be associated with Valens Pay ever contacts you via email with an address that does not end with @tradestyle.com, please notify our compliance department at
RECORDING YOUR COMMUNICATION WITH US
You agree that we may record any telephone, email and chat conversations with you, as well as any other forms of communications, activities, and transactions, between you and us, and that the recordings may be used as evidence in any proceedings relating to our Agreement with you, any order you place, and/or trades executed. These records will be our sole property.
If you are a Member, and have any questions relating to these Terms and Conditions, your rights and obligations arising from these Terms, and/or your use of the Site and the Service, your Account, or any other matter, please Contact Us via our internal secure messaging platform, from within your account by clicking “Support” in the footer after logging in or, if you cannot Contact Us using our internal secure messaging platform, you can email us via the contact form on the Contact Us page of our website. If you email us without using our internal secure messaging platform, please send PGP encrypted emails to us. The instructions and keys to do so are available upon request. For more information about email communications, see the section titled “Email communication” above.
JURISDICTION, GOVERNING LAW
The Terms and Conditions shall be governed and construed in accordance with the laws of Canada, without regard to its conflict of law provisions. The parties hereto agree to irrevocably submit to the exclusive jurisdiction of the courts of Vancouver, Canada.
Our failure to enforce any right or provision of these Terms and Conditions will not be considered a waiver of those rights. If any provision of these Terms and Conditions is held to be invalid or unenforceable by a court, the remaining provisions of these Terms and Conditions will remain in effect. These Terms and Conditions constitute the entire agreement between us regarding our Service and supersede and replace any prior agreements we might have between us regarding the Service.
Valens Pay Limited
302-540 Lawrence Avenue
Kelowna V1Y 6L7
Company no. BC1278918
D-U-N-S® Number: 243291690
84 Eccleston Square, Pimlico
London SW1V 1PX
Godthaabsvej 27, 1
Akuruhi Tower, Floor 9
124 Tran Quang Khai street, Tan Dinh Ward, District 1
Ho Chi Minh City
FINTRAC MSB License M21914872
Member of the Canadian Money Service Business Association (CMSBA).