GENERAL TERMS AND CONDITIONS TRUSTLY

APPLICABLE END USER GENERAL TERMS AND CONDITIONS V. 7.0

1. GENERAL INTRODUCTION OF THE SERVICE

1.1 Trustly (the "Service") is a bank-independent payment solution supporting the execution of transactions from bank accounts in a number of banks in a selection of countries. The Service constitutes a tool which you (the "User") may use to execute payments through your online banking service in a simplified manner to an online supplier (the "Supplier") providing you a product or service. The Service consists of an additional interface between the User and the interface of its online banking service designed specifically for the purposes of simplifying your completion of a specific transaction. The User personally carries through and completes all necessary steps for proceeding with a transaction such as logging in to the online banking service, selecting account from which to pay, and signing the transaction. The User will, consequently, have full control over all phases of the completion of a transaction. The Service allows the User to execute a swift and secure bank transfer in a user-friendly interface without the need for any additional software or registration arrangements. The Service may also be used by the User for the purpose of authenticating oneself towards a Supplier, in order to receive a payment.

1.2 The Service is not offered by or affiliated with your bank. The Service is provided to you by Trustly Group AB (556754-8655), and our registered office is at Norrtullsgatan 6, 113 29 Stockholm, Sweden, ("Trustly"), through the Supplier that you want to transfer funds to or receive a payment from. You can contact us by telephoning our customer service team by writing to us at support@trustly.com. Please read the Terms and Conditions carefully before you begin using the Service. If you do not accept these Terms and Conditions, please do not use the Service or proceed with the intended transaction. By using the Service, you agree to the Terms and Conditions as set forth in this Agreement at the time of the transaction. The Terms and Conditions may be revised from time to time without prior notice and the User must therefore ensure that the terms are reviewed in each case before proceeding with a transaction. In the event of a change of the terms, the revised version will be labelled with a new version number.

1.3 We may change the Service:

(a) to reflect changes in relevant laws and regulatory requirements such as our requirements and obligations under the Swedish Payment Services Act (2010:75); or

(b) to implement minor technical adjustments and improvements, for example to address a security threat.

2. LOGIN INFORMATION ETC. PROVIDED BY THE USER

2.1 Any transaction executed with the use of personalised security credentials (codes/passwords etc.) shall be deemed to be carried out by the authorized owner of the account. The login information provided by you during the transaction process will be collected and processed by Trustly. Trustly will forward the information, through the Service interface, to the corresponding interface of your online bank through a secure connection. All communications made by you when using the Service are encrypted and the confidential login information of the User is forwarded to the corresponding input-field of the selected bank but is never stored. Trustly may, however, store and process any and all information provided by you in connection with using the Service. Trustly’s processing of such information takes place in accordance with Trustly’s Privacy Policy, available on Trustly’s webpage. The Privacy Policy includes the information set out under section 8 below (Privacy Policy and Processing of Personal Data).

2.2 Your purchase of goods, services, digital content or otherwise from the Supplier will at all times be subject to the Supplier's terms and conditions and Trustly shall in no way be liable for the actions or inactions of the Supplier. Please ensure that you have reviewed and accepted the Supplier's terms and conditions before using the Service.

3. AUTHORIZATION/PERMISSION TO FORWARD INFORMATION ABOUT THE USER

By using the Service, the User agrees that information about the User available in various parts of the online banking interface (including name, address, telephone number, e-mail address, sending bank account number, personal identity number and, where applicable, passport number/identity card number) is used by Trustly for the purpose of verifying the identity of the User and/or for the purpose of executing your transaction. Your information is furthermore forwarded by Trustly to the Supplier for the purpose of the Supplier verifying the transaction and the User’s identity, in order to prevent fraud or other criminal acts as well as to meet potential legal requirements.

Once the User has entered all its required details into the various part of the online interface and clicked submit, the User will be deemed to have expressly requested and authorised the payment transaction to take place in accordance with clause 2.1. The User acknowledges and agrees that its authorisation for the payment transaction is received by us almost immediately following the User's express request and the User further acknowledges and agrees that it cannot withdraw or revoke its authorisation after this time.

4. GENERAL REQUIREMENTS FOR ELIGIBILITY TO USE THE SERVICE

4.1 In order to use the Service, Users must be at least eighteen (18) years of age, or of such age as required by the Supplier, with capacity to enter into legally binding contracts and must have the right to dispose of the assets available in the online bank accounts used by the User in connection with the Service. The User hereby confirms that these requirements are met

4.2 The User confirms that it shall not use the Service for any purpose that is in violation of its agreements with third parties (including the bank(s) used in connection with the Service) or applicable law. The User is personally responsible for any and all such violations and acknowledges, by using the Service, that the use of the same does not result in any such violation.

5. SUSPENSION OF THE SERVICE

Trustly may have to suspend the Service to deal with technical changes or to update the Service to reflect changes in relevant laws and regulatory requirements.

6. LIABILITY AND COMPENSATION

6.1 Trustly is liable to the User for transactions executed through the Service to the extent set out in the Swedish Payment Services Act (2010:751).

6.2 If Trustly fails to comply with these Terms and Conditions, Trustly is responsible for loss or damage which you suffer that is a foreseeable result of such non-compliance or failure to use reasonable care and skill, but Trustly is not responsible or liable for any loss or damage that is not foreseeable.

6.3 Trustly does not exclude or limit in any way its liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by Trustly's negligence or the negligence of Trustly's employees, agents or subcontractors; for fraud or fraudulent misrepresentation; for breach of your legal rights in relation to the Service including the right for the Services to be supplied with reasonable skill and care.

6.4 Trustly is not liable for business losses. Trustly only supplies the Services to you via the Supplier for domestic and private use. If you use the Services via the Supplier for any other uses or purposes, Trustly will have no liability to you for any loss of profit, loss of revenue, loss of business, business interruption, loss of business opportunity or loss or damage to reputation.

7. POTENTIAL CHARGES AND FEES APPLIED BY THE BANK OF THE USER

When executing a transaction through the Service, domestic or international payments may occur from time to time in which case a fee chargeable to the User's bank account may apply according to the terms of the agreement between the User and its bank. By using the Service, the User acknowledges that he or she is solely responsible for any and all fees applied by his or her bank when executing domestic or international payments/transactions.Trustly itself does not charge Users any fees for the provision of the Service via the Supplier.

8. PRIVACY POLICY AND PROCESSING OF PERSONAL DATA

Trustly will store and process information provided by the User in accordance with applicable data privacy legislation. Such information includes the IP-address of the User, information regarding the identity of the User including e.g. name, address, telephone number, e-mail address, sending bank account number, account balance, personal identity number and, where applicable, passport number/identity card number.

Trustly collects and processes the above information for the purposes of managing your transaction, registering your transaction with your bank and carrying out a secure transaction as well as to meet legal requirements within the field of data storage requirements, anti-money laundering measures and other relevant legal obligations of Trustly, including but not limited to, for the purpose of preventing fraud and other criminal acts.

Trustly is the controller of the collected data and is responsible for ensuring that it will be treated in accordance with applicable privacy laws and will be used only for the purposes and in the manner, and only be provided to third parties, as set forth herein.

It follows from clause 3 (Authorization/permission to forward information provided by the user) above that the User consents to information being forwarded by Trustly to the online banking interface and to the Supplier as further detailed above. Trustly may further forward information on the User to police authorities and other relevant authorities in connection with investigations of payment transactions for the purposes of preventing, investigating and disclosing breaches against anti-money laundering legislation, fraud and other criminal acts. Trustly will undertake necessary measures to protect the disclosed data from otherwise being passed on to third parties and undertakes not to pass on any such data for commercial, advertising or similar purposes.

All personal data collected will be treated with confidentiality as far as possible and will, in all cases, be transmitted and handled by applying SSL (Secure socket layer) and secure encryption procedures. Trustly will not process personal data for a longer period than is necessary for fulfilling the purpose of such processing, as set out above.

The User, through its consent to these Terms and Conditions before use of the Service, consents to the processing of personal data as set forth above. The User consents to the transfer of data via Internet including the transfer of such data to a country outside the EEA.

If you have any inquiries or requests relating to your personal data or your rights under applicable privacy laws, including requests for information and rectification regarding your personal data that we hold, please contact Trustly at support@trustly.com.

In certain cases, special Terms and Conditions may supplement these General Terms and Conditions, such as for use of Trustly’s service for direct payments in Sweden (Swe. "Direktbetalning") or Trustly’s service "Tap & Pay". In case of contradiction between these General Terms and Conditions and such special Terms and Conditions, the regulations set forth in said special Terms and Conditions shall prevail.

9. NOTIFICATIONS OF DELAYS, INTERRUPTIONS, MALFUNCTION ETC.

Users must immediately notify Trustly of any errors or malfunctions in the Service that they become aware of. Upon notification by the User, Trustly will use its best efforts to remedy any malfunction without delay.

10. FORCE MAJEURE

Subject to clause 6 (Liability and Compensation) Trustly shall in no case be liable for any economic loss, delay or failure in performance to the extent such loss, delay or failure is caused by fire, flood, explosion, war, strike, embargo, governmental requirements, civil and military authority, data trespass, unlawful action of the User or any other cause beyond Trustly’s reasonable control.

11. MATTERS OF SUSPECTED CRIMINAL ACTIVITY ETC.

Trustly unilaterally reserves the right to take appropriate measures, keep records of and suspend a transaction of the User in the event of suspected criminal or illicit activity, imminent civil actions by third parties due to the providing of the Service or any other act or omission such as severe malfunction or misuse of the Service that might expose the User or Trustly to damage regardless of the nature of such potential damage.

12. KNOW YOUR CUSTOMER (KYC)-REGULATIONS AND USER OBLIGATIONS TO PROVIDE INFORMATION

The transactions executed by the User are subject to monitoring for the purposes of complying with applicable regulations regarding anti-money laundering and financing of terrorism. The policies and practices applied are constantly reviewed and may vary from time to time depending on conditions pertaining to the User such as transaction patterns, geographical position etc. For the purposes of complying with applicable regulations, records may be kept and additional information may be requested from the User in order to establish matters such as identity, purpose of the transaction and origin of funds. By executing a transaction through the Service, the User commits to provide any and all such information as may be deemed necessary for these purposes and recognize that non-compliance with such request may result in refusal to complete the transaction of the User or other consequences as called for.

13. SEVERANCE

If any provision of this Agreement is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of this Agreement which shall remain in full force and effect. If any provision of this Agreement is so found to be invalid or unenforceable but would cease to be invalid or unenforceable if some part of the provision were deleted, the provision in question shall apply with such modification as may be necessary to make it valid and enforceable.

14. GOVERNING LAW

These General Terms and Conditions and the agreement it constitutes shall be governed by the laws of Sweden. Disputes shall primarily be resolved by negotiations in good spirit between the parties following a claim being filed by the User after which Trustly shall consider the claim within thirty (30) days. If the parties are not able to reach an amicable agreement regarding the claim, the dispute shall be resolved in accordance with the rules of civil procedure. All communications with regard to these General Terms and Conditions shall be in English.