Welcome to Swipe International

1. Contract formation, purpose and overview

1.1 Unless otherwise stated, capitalised words are defined in Clause 2.

1.2 This agreement, together with your agreed Fees Schedule, setting out the charges applicable for the Services (the “Fees Schedule”), form your agreement with us for our provision of the Services to you (the “Agreement”).

1.3 In the Agreement and Fee Schedule referenced in Clause 1.2 above, the terms “Swipe”, “we”, “us”, and “our” refer to Swipe International Ltd and “you”, “your” refer to any person who accesses and/or uses the Services and is bound by this Agreement.

1.4 By accessing, registering for and using the Services, you agree to be bound by this Agreement.

1.5 This Agreement has no fixed term. The Services are offered with no minimum duration and will continue in force until terminated in accordance with Clause 18.

1.6 The language of the Agreement is English, and all Services carried out in connection with it will be English.

1.7 The Corporate Account is offered only for corporate use.

1.8 Nothing in this Agreement shall be deemed to create a partnership between us.

1.9 It is important that you understand that access and use of the Services by you, the Authorised Users and the Client Administrators is conditional on your acceptance of this Agreement. You can request a copy of the Agreement at any time via post or email. Please send an email to support@theswipecompany.com if you want a copy of the Agreement.

2. Definitions

In this Agreement, the below terms shall have the following meaning(s):

2.1 “Agreement” has the meaning set out in Clause 1.2;

2.2 “Applicable Laws” means the applicable laws and regulations of the United Kingdom or the jurisdiction from which funds are transferred or where funds are intended to be received, including those which relate to payment services including, without limitation, the Financial Services and Markets Act, 2000, the E-Money Regulations 2011 and the Payment Services Regulations 2017;

2.3 “Application” means the Swipe mobile phone application operated by us to provide the Corporate Account;

2.4 “Authorised User” has the meaning set out in Clause 4.1.1;

2.5 “Business Day” means any day other than a Saturday, Sunday, or public holiday in England when banks in London are open for business and on which we are open for business as required for the execution of a payment transaction;

2.6 “Client Administrator” has the meaning set out in Clause 4.1.2;

2.7 “Corporate Account” means a virtual multi-currency non-interest-bearing payment account provided by us to you, and which allows you to:

(a) make Outbound Transactions;

(b) receive funds under Inbound Transactions;

(c) see a record of Transactions; and

(d) convert the funds between different currencies we make available from time to time (“Settlement Currencies”);

In accordance with Clause 8 below, Transaction Amounts received in your Corporate Account through Inbound Transactions must always be allocated to a Payment Instruction for an Outbound Transaction;

2.8 “Fees Schedule” has the meaning set out in Clause 1.2;

2.9 “Force Majeure Event” means any event preventing us from performing any or all of our obligations under this Agreement which arises from or is attributable to acts, events, omissions or accidents beyond our reasonable control that we are unable to avoid;

2.10 “FOS” has the meaning set out in Clause 29.3;

2.11 “Inbound Transaction” means using the Services to receive funds from a Sender, from another Corporate Account or another type of account held with a third party, into your Corporate Account;

2.12 “Outbound Transaction” means using the Services to transfer funds from your Corporate Account to a Recipient, to another Corporate Account or another type of account held with a third party,;

2.13 “Payment Instruction” means a specific instruction from you, the Authorised Users or the Client

Administrators using the Platform to make an Outbound Transaction;

2.14 “Payment Instrument” means any payment devices accepted on the Platform such as a debit card, credit card, or Corporate Account;

2.15 “Platform” has the meaning set out in Clause 3.1;

2.16 “Prohibited Purpose” means any unlawful purpose (whether such illegality arises in the country from which the funds are transferred or where they are intended to be received or in any territory with jurisdiction over Swipe, the Sender or the Recipient) including, without limitation, the transfer or receipt of payment for illegal activities, the transfer of funds which constitute proceeds of crime or money laundering under the Proceeds of Crime Act 2002 (or equivalent), or which are obtained by illegal activity, the transfer of funds for the purpose of funding illegal activity, the transfer of funds for the purpose of avoiding the seizure of such funds by law enforcement authorities or under orders of any court of law, and any transfer of funds without the permission of their owner;

2.17 “Recipient” means the person (which could be you or another person) who receives (or intends to receive) the money transfer through the Services;

2.18 “Sender” means the person who initiates the transfer of funds to the Corporate Account;

2.19 “Services” has the meaning set out in Clause 3.1;

2.20 “Transactions” means both Inbound Transactions and Outbound Transactions;

2.21 “Transaction Amount” means, as appropriate,:

(a) the amount of funds received from the Sender as part of an Inbound Transaction, or

(b) the amount of funds you, an Authorised User or a Client Administrator specified to be transferred to a Recipient as part of an Outbound Transaction;

In each case, the Transaction Amount excludes any applicable Transaction Fee and is the amount displayed by us on the Platform prior to any foreign exchange conversion;

2.22 “Transaction Fee” has the meaning set out in Clause 7.5;

2.23 “Transaction History” means the record of the Transactions which are accessible through the Platform;

2.24 “UK” means the United Kingdom; and

2.25 “Website” means our public website https://globalpayments.theswipecompany.com/ operated by Swipe to provide the Corporate Account.

3. Payment and E-Money services

3.1 The payment services we will provide to you are the provision of the Corporate Account which you, the Authorised Users and the Client Administrators will be able to access and use on the Website and the Application (together, the “Platform”) (the “Services”).

3.2 You do not need to register for a Corporate Account in order to visit most areas of our Platform. However, to use the Services and access the restricted areas of our Platform you will need to register and set up a Corporate Account with us .

3.3 Although Swipe International is regulated by the Financial Conduct Authority, we are not regulated in the same way as a bank. As an electronic money institution, we hold your money in secure safeguarded bank accounts. Safeguarding segregates your funds from our own by placing your funds in a separate account. This protects your funds and ensures your funds can only be used to complete the payment as instructed, or should that be impossible, the funds are returned to the original payer.

3.4 We will use reasonable care and skill in providing the Services to you, but you should bear in mind that your payments do not carry the benefit of any interest and that our Services do not have the benefit of any government-backed insurance, guarantee or compensation scheme (for example, no

compensation is available from the Financial Services Compensation Scheme if we are unable to meet our liabilities) and the relationship of Swipe with you is not that of a bank or trustee.

4. Authorised Users

4.1 As part of creating a Corporate Account, you will notify us in writing of the names, job titles and contact details of your personnel and any direct third-party service providers that are nominated and authorised to act on your behalf to:

4.1.1 administer and manage your use of and access to the Corporate Account and Platform

(each an “Authorised User”); and

4.1.2 Authorised Users who will act as your primary points of contact for all issues relating to your relationship with us, this Agreement and the Services (each a “Client Administrator”).

4.2 You will be responsible for the actions of each Authorised User and Client Administrator. Each Authorised User and Client Administrator, can give us instructions within the scope of their authority under this Agreement. This means that if one Authorised User sends us an instruction within the scope of their authority we will act on it without checking with you or any other Authorised Users first. Therefore, you need to make sure all Authorised Users are aware of this Agreement and keep to it.

4.3 You may change a Client Administrator or an Authorised User by providing us with written notice of such change. We may require you to replace any Client Administrator or Authorised User with an alternative person.

5. Access Control

5.1 You shall ensure that all Authorised Users, including Client Administrators, log on at least once a month to ensure that their login details are kept up to date.

5.2 You shall ensure that the allocations of privileges to Authorised Users and Client Administrators are restricted and controlled. Access rights must be reviewed by your management team regularly.

5.3 You shall review, at least annually, your personnel’s access permissions and roles in relation to the Corporate Account and Platform, and have appropriate policies and procedures in respect of how such roles are assigned to new members of staff, change for existing staff and revoked for personnel you no longer employ.

6. Advance Payments

6.1 Certain Corporate Accounts may be subject to an advance payment requirement which allows us a better protection against possible risks and expenses associated with these accounts. We will notify you if this applies to you. The advance payment will only be imposed with your prior agreement.

6.2 Any advance payment will be kept for 45 calendar days following the Corporate Account closure. Where additional expenses associated with the Corporate Account emerge after the Corporate

Account has been closed, we may retain the advance payment longer than 45 calendar days. If the amount of the advance payment is not sufficient, we might claim other expenses derived from your activity through a tribunal.

6.3 We may release the advance payment before the Corporate Account is closed.

6.4 We do not pay any interest on advance payment.

7. Making Outbound Transactions

7.1 Our Services allow you, your Authorised Users and Client Administrators to make Outbound Transaction to any of the countries in which we operate.

7.2 We are always expanding our list of supported countries, so please visit our list on our Website on https://globalpayments.theswipecompany.com/ or from the drop-down list in the Application itself for the most up to date information.

7.3 When you, your Authorised Users or Client Administrators want to make an Outbound Transaction, you, your Authorised Users or Client Administrators will need to provide a Payment Instruction through the Platform. As part of the Payment Instruction, you, your Authorised Users or Client Administrators will need to provide certain identifiers which will be displayed on the Platform, including the Recipient's full name, address, sort code, account number, the county of their bank, the Bank Identifier Code (“SWIFT” OR “BIC”), a reference (if applicable) and the Transaction Amount.

7.4 It is solely your responsibility (and that of your Authorised Users and Client Administrators acting on your behalf) to make sure all the Payment Instruction details are accurate before submission.

7.5 Providing inaccurate details will cause delays in processing your Outbound Transaction or can lead to an Outbound Transaction failing. Before you your Authorised Users or Client Administrators can submit a Payment Instruction, we will confirm the amount of any associated fees that we will charge for the Outbound Transaction (the “Transaction Fee”) (the basis on which the Transaction Fee is calculated is set out in the Fee Schedule) and a unique transaction identification number will be generated. The Transaction Fee will be deducted directly from your Corporate Account.

7.6 Before you your Authorised Users or Client Administrators can submit a foreign exchange Payment Instruction, in addition to the Transaction Fee we will also confirm the foreign exchange conversion rate that will be applied to the Transaction Amount as per Clause 14 below.

7.7 Once you your Authorised Users or Client Administrators confirm the foreign exchange conversion, the Platform will allow you, your Authorised Users or Client Administrators to submit your Payment Instruction to us. Once the Payment Instruction is submitted, you will be deemed to have authorised this Outbound Transaction, and have authorised us to execute it.

7.8 Once a Payment Instruction has been submitted, we are not able to change or cancel the transaction other than under the instructions as per Clause 7.9 or the circumstances listed in Clause

9.1 below.

7.9 You, your Authorised Users or Client Administrators may withdraw a Payment Instruction only if the Outbound Transaction is approved for a future date (for example, if a regular payment was set

up) by confirming this through the Platform by the end of the Business Day before the transaction is due to be made. We may charge you a fee for withdrawing a Payment Instruction, the details of this fee will be set out in the Fee Schedule.

7.10 If a Payment Instruction is submitted on a Business Day before 4pm we will process the Payment Instruction on that day. If the request is made on a non-Business Day or after 4pm, we’ll process the Payment Instruction on the next Business Day.

7.11 If we have agreed to make the Outbound Transaction on a future date,

7.11.1 when the future date is a Business Day, we will process the Payment Instruction on the day agreed with us;

7.11.2 when the future date is a non-Business Day, we’ll process the Payment Instruction on the next Business Day after the day agreed with us.

7.12 The Transaction Amount will reach the Recipient’s payment service provider in accordance with the following table.

7.13 You acknowledge and agree that Swipe is only responsible for ensuring that the Transaction amounts reach the Recipient’s payment service provider in accordance with the timings set out in Clause 7.12 above. We cannot be held liable for any delay in onward payment by the Recipient’s payment service provider to the Recipient.

8. Receiving Inbound Transactions

8.1 We will make the Transaction Amounts received through Inbound Transactions available to you immediately after we receive these Transactions Amounts from the Sender’s payment service provider.

9. Performance of the Transaction

9.1 We reserve the right to refuse to perform a Transaction (including after our confirmation) if:

9.1.1 there are insufficient funds in your Corporate Account to cover the Transaction Amount (either before or after the foreign currency exchange) and the Transaction Fee; if the funds in your Corporate Account are insufficient in one currency, but there are sufficient funds in another currency, the Transaction will not be executed until you convert the necessary funds to the currency of the Transaction (except for cases where you have ordered an automatic currency exchange feature;

9.1.2 we are unable to obtain satisfactory evidence of your identity;

9.1.3 you provide us with false, incorrect or incomplete information;

9.1.4 we are unable to reach you via contact details provided by you;

9.1.5 the Payment Instruction, information or documentation is not provided sufficiently in advance to allow us to process it in accordance with your, your Authorised Users’ or Client Administrators’ request;

9.1.6 we have reason to believe that processing this Payment Instruction would violate anti- money laundering or counter-terrorism financing laws, rules or regulations;

9.1.7 we reasonably believe there may be fraudulent activity or other financial crime affecting you, any Sender or Recipient, any funds on your Corporate Account, or any payment;

9.1.8 you, or the Payment Instructions, are in breach of any Applicable Laws or are made for a Prohibited Purpose;

9.1.9 processing the Transaction in accordance with the Payment Instruction may expose us to liability;

9.1.10 we are unable to process the Transaction due to variations in business hours, currency exchange or currency availability issues or due to any Force Majeure Event;

9.1.11 we are obliged to do so by any Applicable Laws, court order or instruction from an ombudsman, regulator or governmental body; or

9.1.12 there is a dispute (which we reasonably believe is genuine) about who owns, or is entitled to, any funds on your Corporate Account. This includes (but is not limited to) the situation where a Sender makes a request for a refund of funds the Sender has sent to us for your Corporate Account, or we are made aware that the Sender has made a claim against you for return of those funds;

9.1.13 our compliance officer has taken a discretionary decision to do so;

9.1.14 you are in material breach of this Agreement;

9.1.15 we have reason to believe that any of the foregoing has occurred or is likely to occur;

9.1.16 you attempt to make on Outbound Transaction to an account that cannot accept payments through the payment system we normally use; in this case, we will tell you if there is any other way to make the Outbound Transaction but there may be a further charge for other methods; or

9.1.17 you operate your Corporate Account while physically located in certain countries, we may not be able to offer you other products, or may decline Transactions, or may later withdraw your Corporate Account.

9.2 In order to meet our Applicable Laws requirements, we reserve the right to withhold an incoming payment from being applied to your Corporate Account. The payment may be held by us for up to 48 hours before contacting you for further information. In some circumstances, we may not be able to apply the incoming payment to your Corporate Account and should this occur, we will inform you unless it is unlawful to do so. We shall not be held responsible for any loss that may result from this.

9.3 We shall notify you of any exercise of our rights in this Clause, including the reasons thereof and any follow-up procedure for correction, unless prohibited by Applicable Laws. This notification will be provided in accordance with Clause 28.

9.4 We shall not be liable for any damages, costs or losses incurred by the Sender or the Recipient or any third party if, as a result of any of the circumstances referred to in Clause 7.4 and 9.1, we fail to complete the transfer of funds in accordance with a Payment Instruction.

9.5 We can charge a fee for refusing to perform a Transaction. The basis on which such a fee is calculated will be set out in the Fee Schedule.

10. Transaction limits

10.1 We can also introduce, increase, decrease or abolish Transactions spending limits for certain types of Transactions made to or by you, your Authorised Users or Client Administrators using our Services from time to time. We may do this for any of the following reasons:

· to comply with Applicable Laws, codes of practice or guidance, or a recommendation, decision or order of a court, ombudsman, regulator or government body, or new statements, codes of practice or industry guidance designed to enhance consumer protection and/or the security of payment and financial systems;

· to take account of and address risks we have identified with the Transactions, or to anticipate any such risks arising; or

· to reduce the risks of financial crime.

10.2 We will publish details of Transaction limits on the Platform.

11. Incorrect and unauthorised Transactions

11.1 The table below summarises the types of things that might go wrong when we are carrying out the Services:

11.2 If any of the things in Clause 11.1 occur, you, your Authorised Users or Client Administrators must tell us through the ‘Intercom’ live chat function on the Platform without delay and within 13 months from the date of the debit of the Outbound Transaction or the credit of the Inbound Transaction and if necessary, cooperate with our investigation into what went wrong.

11.3 The time for processing may be longer, or you may not be entitled to a full or any refund if:

11.3.1 The Payment Instructions given to us were incorrect.

11.3.2 You have acted fraudulently.

11.3.3 You, your Authorised Users or Client Administrators have been grossly negligent with your security details. For the purpose of this, you, your Authorised Users or Client Administrators will be deemed to have been grossly negligence if you, your Authorised Users or Client Administrators have failed to follow the steps to keep your Corporate Account secure or haven't told us of suspected fraud (see Clause 12) you, your Authorised Users or Client Administrators have done something that was obviously wrong or careless. There might also be other situations where we will consider that you have been grossly negligent.

11.4 Except in the situations set out in Clause 11.3, if your security details have been lost or stolen, the most you will be responsible for as a result of unauthorised transactions or misuse of your, your Authorised Users’ or Client Administrators’ security details before you, your Authorised Users or Client Administrators report them as lost or stolen is £35. You will not be liable under this Clause if the loss or theft of your security details was not detectable by you prior to the payment or the loss was caused by acts or omissions of a Swipe employee, agent or branch or of an entity which carried out activities on behalf of Swipe.

12. Eligibility and your right of access

12.1 You warrant that you are over eighteen (18) years old, if applicable, and that you have legal capacity to enter into legally binding contracts under Applicable Laws, including local law in the jurisdiction in which you live.

12.2 The information and details you supply to us are true, accurate and complete. In accordance with the provisions of Clause 20 , you agree that Swipe can periodically validate information provided by you, using electronic address and identification verification tools and software which may be provided by public database processing companies, credit reference agencies and other sources.

12.3 You agree to notify us promptly of any changes in the details you have supplied to us.

12.4 You agree to use the Corporate Account in accordance with this Agreement.

12.5 When registering and setting up the Corporate Account, you, your Authorised Users and Client Administrators will set up login details and security information that will enable you to access the Platform securely and use the Services.

12.6 You must take reasonable steps to keep the details used to access the Platform safe and to prevent their fraudulent use. We expect you to, and ensure the Authorised Users and Client Administrators do so too, take the following steps to keep the login information and details safe:

(a) disguising those details if they are written down and keeping them out of sight of any person;

(b) not sharing those details with anyone;

(c) being aware of scams designed to trick into sharing security details or other information that could be used to defraud; we will never ask you, your Authorised Users or your Client Administrators to share your security details with us;

(d) checking your Corporate Account and Transaction History regularly;

(e) logging out of the Platform when it is not used;

(f) keeping any devices used to access the Platform, including phones and laptops, secure; and

(g) following any reasonable instructions which we give or publish on the Platform from time to time and which are intended to help keep the use of our Services safe.

12.7 You, your Authorised Users and Client Administrators must notify us immediately by calling us on +44 (0)2080370936 or via the ‘Intercom’ live chat function on our Platform on becoming aware that someone else knows your password, PIN or other security information or that any of these have been lost, stolen or misappropriated or you, your Authorised Users and Client Administrators otherwise suspect or know of fraud or security threats or unauthorised use of your Corporate Account. Once you, your Authorised Users or Client Administrators notify us, we will take immediate steps to try to prevent these details from being used.

12.8 The Payment Instructions to us and the use of any chosen form of Payment Instrument for payment to us, will not breach any applicable agreement, Applicable Laws, and you agree to compensate us for any loss we suffer as a result of the above representations being untrue or incorrect.

12.9 You must only act on your own companies behalf, duly authorised in accordance with your companies bylaws/protocols. You must not make an Outbound Transaction or receive an Inbound Transaction on behalf of another person.

12.10 You must only use the Services for Outbound Transactions to people that you know personally, and not to pay for goods or services from third parties you do not know and trust. If you choose to pay third parties for goods and services using our Services, Swipe has no control over this and is not responsible for, the quality, safety, legality, or delivery of such goods or services, and that any such use of the Services is entirely at your own risk.

12.11 For USD Outbound Transactions, funds and your data will be processed in accordance with NACHAS Operating Rules, and your data will be verified in compliance with those rules. For more information, please review the following https://www.nacha.org/rules/operating-rules.

13. Your warranties

13.1 You represent and warrant that:

13.1.1 you intend to use the Services wholly or mainly for the purposes of a business;

13.1.2 you are domiciled in the UK and your assets are situated in the UK;

13.1.3 you are not bankrupt, have not failed to pay a debt as ordered by a court, and have not filed for a suspension of payments or debt restructuring and/or no suspension of payments or debt restructuring has been granted to you;

13.1.4 you have full power and authority to execute and deliver the Agreement, each Transaction and any other related documentation, and to perform your obligations under this Agreement and each Transaction, and have taken all necessary action to authorise such execution, delivery and performance;

13.1.5 any such execution, delivery and performance as set out in Clause 13.1.4 will not violate or conflict with any Applicable Laws, any provision of any constitutional documents or any charge, trust deed, contract or other instrument or any contractual restrictions applicable to, binding on or affecting you or any of your assets or oblige you to create any lien, security interest or encumbrance;

13.1.6 all governmental, regulatory, and other consents that are required to have been obtained by you in relation to this Agreement have been so obtained and are in full force and effect and all conditions of any such consents have been complied with;

13.1.7 your obligations under this Agreement constitute your legal, valid and binding obligations, enforceable in accordance with this Agreement;

13.1.8 you will comply with all laws, rules, regulations and disclosure requirements of any relevant jurisdiction, exchange, market or regulatory authority which apply in respect of us, you or your investments from time to time; and

13.1.9 you will promptly give us (or procure to be given to us) the information and assistance we may reasonably require to enable us to assist or comply with our obligations in relation to the Corporate Account or the Services.

13.2 Each representation and warranty set out at Clause 13.1 shall be deemed to be repeated by you each time a Transaction is executed.

14. Exchange Rates

14.1 You can find details on our current foreign exchange conversion on our platform.

14.2 The foreign exchange conversion rate shown while using the Services via the Platform is the rate applicable for currency conversion transactions executed on that particular date and time. The exchange rates specified while using the Services via the Platform may fluctuate from time to time in accordance with fluctuations in international exchange rate markets.

14.3 Each time you, your Authorised Users or Client Administrators use the Services, the applicable exchange rate, for that particular date and time, and the Transaction Fee will be shown to you, your Authorised Users or Client Administrators before you, your Authorised Users or Client Administrators submit the Payment Instruction. Proceeding with the Transaction at this point is entirely optional, please do so at your own discretion.

14.4 When you, your Authorised Users or Client Administrators initiate an Outbound Transaction, we will transfer the Transaction Amount to the Recipient at the foreign exchange rate applicable at the date and time we execute the Outbound Transaction (in accordance with Clause 7 above); as a result, the foreign exchange rate we actually apply to your Transaction Amount may be different to the foreign exchange rate specified at the time of submitting the Payment Instruction.

14.5 When you pay for an Outbound Transaction in one currency and the Recipient is paid in another currency, there will be a difference between the exchange rate at which we buy foreign currency and the exchange rate provided to you.

15. Fees, charges and interest

15.1 We will charge you the applicable fees and charges set out in the Fee Schedule.

15.2 If a Payment Instruction submitted to us results in Swipe becoming liable for fees or charges, such as a chargeback, you agree to reimburse us for all such fees.

15.3 In order for us to collect payment from you, you authorise us to access, charge, or debit funds from, any of your chosen Payment Instruments. For example, if there are insufficient funds in your Corporate Account at the time a Payment Instruction is submitted, we may try to debit your bank account or charge your credit card at a later time.

15.4 Swipe is not responsible for any charges applied by the Recipient's payment service provider or any intermediary payment service providers resulting from the transfer of funds into the Recipient's account. You should contact the Recipient's payment service provider directly for details about any charges that may be applicable to the transaction.

15.5 We will have no responsibility for any fees or charges you may incur by the use of a particular Payment Instrument on the Platform. These may include but are not limited to unauthorised overdraft fees imposed by banks if there are insufficient funds in your bank account or “cash advance” fees and additional interest which may be imposed by credit card providers if they treat use of the Services as a cash transaction rather than a purchase transaction.

15.6 You will not be entitled to any interest from us for the period during which any funds are in your Corporate Account or for any other period.

16. Limitations of liability

16.1 We will provide the Services using reasonable care and diligence.

16.2 We will use reasonable endeavours to make the Services available except for:

16.2.1 planned maintenance, for which 24 hours' notice will be given by placing a notice on the Platform or by providing you an alert through the Services; or

16.2.2 unscheduled maintenance during normal business hours (UK time) or otherwise, for which we will use reasonable endeavours to give you advance notice by placing a notice on the Platform or by providing you an alert through the Services.

16.3 The Services is provided on an “as available” and “as is” basis. This means that we are unable topromise that your use of the Services will be uninterrupted, without delays, error-free or meet your expectations and we do not give any commitment relating to the performance or availability of the Services in this Agreement and, to the extent we are able to do so, we exclude any commitments that may be implied by Applicable Laws.

16.4 We will also not be responsible, to the extent permitted under any Applicable Laws, for any delay in any Transactions or any of our other obligations if this is caused by a Force Majeure Event. We will notify you as soon as we can if we are unable to perform a Transaction for any of these reasons and will use reasonable measures to secure the return of any money paid by you.

16.5 Except where you have acted fraudulently, we will be responsible for your loss or damage which happens:

16.5.1 before you, your Authorised Users or Client Administrators set up your security details;

16.5.2 after you, your Authorised Users or Client Administrators have told us about suspected loss or misuse of your security details;

16.5.3 after you, your Authorised Users or Client Administrators have told us about suspected fraud or illegal activity on your Corporate Account;

16.5.4 after we have processed Payment Instructions without verifying security details.

16.6 We will also be responsible if you suffer loss or damage because we have acted with gross negligence or fraud, or we have deliberately breached our Agreement with you.

16.7 We're not responsible if you suffer loss or damage as a result of:

16.7.1 Things that are beyond our reasonable control, such as abnormal or unforeseeable circumstances that could not be avoided, or things we could not have known about.

16.7.2 Something that we are not directly responsible for, such as where you suffer a loss of business, goodwill, profit or a lost opportunity.

16.7.3 Us doing or not doing something due to legal or regulatory reasons.

16.7.4 Technical, software or related issues that are beyond our control.

16.7.5 Us acting on Payment Instructions, and the Payment Instructions were incorrect.

16.7.6 Us trying to contact you using your contact details, but you have not kept them up to date.

16.7.7 You, your Authorised Users or Client Administrators not keeping your security details safe, or you, your Authorised Users or Client Administrators have failed to notify us of suspected unauthorised or fraudulent activity on your Corporate Account.

17. Changes to this Agreement

17.1 We can make changes to the Agreement for any of the following reasons:

to reflect any change in Applicable Laws, codes of practice or guidance, or a recommendation, decision or order of a court, ombudsman, regulator or government body, or new statements, codes of practice or industry guidance designed to enhance consumer protection;

· to reflect any changes in our business organisation (for example, if we merge with another organisation or transfer our business to another organisation);

· to reflect any changes in technology or the systems we use to provide services to you;

· to maintain or improve the security of our products;

· to provide you with extra benefits or additional services;

· to introduce a new product, service or any new feature on an existing product or service;

· to reflect (in a proportionate way) changes in our costs in providing our services, for example changes in market conditions, technology costs, inflation and/or the costs of providing facilities.

· to reflect (in a proportionate way) any cost associated with any new product or service we introduce, or any new feature on an existing product or service;

· to reflect changes in the Bank of England base rate and other market rates;

· to make the terms clearer or fairer to you, or to benefit you or correct mistakes, ambiguities, inaccuracies or omissions where it will not make you worse off.

17.2 Whenever we decide to make a change, we will act reasonably, and any change will be proportionate to the circumstances giving rise to the change.

17.3 As our Agreement with you may last for a long time and we cannot anticipate everything that might happen during that time, we may also need to make changes for other justifiable reasons. If we do so, we will explain the reason to you when we tell you about the change.

17.4 We will give you notice of the change at least 2 months prior to the change except that:

17.4.1 we will apply exchange rates changes immediately and without notice where such changes in the exchange rate are based on reference exchange rates (see Clause 14.1 for details on these) or these exchange rates changes are more favourable to you; and

17.4.2 where we introduce a new service or functionality (and even if we introduce new charges for that service), we will apply these changes immediately on notice provided the introduction of the new service does not affect your use of our existing services; or

17.5 If you do not agree to any changes we make under this Clause, you can terminate this Agreement free of charge and at any time before the change comes into effect and the normal notice period set out in Clause 18.1 will not apply. If you do not ask us to do this, you will be treated as having accepted the change.

18. Suspension, closure and termination

18.1 If you want to terminate this Agreement you need to give us one month's written notice, except as provided for in Clause 18.2 below.

18.2 Where we have broken the terms of your Agreement with us in a serious way, and (where it is possible to put this right) we have not put this right within a reasonable period of time requested by you, you can terminate the Agreement by giving us written notice with immediate effect.

18.3 We can terminate the Agreement upon two months' notice.

18.4 We can suspend or close your Corporate Account with immediate effect if you, or, where applicable, your Authorised Users or Client Administrators:

18.4.1 have broken the terms of your Agreement with us in a serious way, and (where it is possible to put this right) you have not put this right within a reasonable period of time requested by us;

18.4.2 have given us information that is false or misleading;

18.4.3 through any means of communication intimidate, harass or threaten us, our employees, officers, agents, or customers with violence, property damage or any other offensive, indecent, discriminatory or hateful material;

18.4.4 breach or attempt to breach the security of the Platform or our Services (including, but not limited to, modifying or attempting to modify any information; unauthorised logins, unauthorised data access or deletion; interfering with the Services, system, host or network; reverse engineering of any kind; spamming; hacking; falsifying data; introducing viruses, Trojan horses, worms or other destructive or damaging programs or engines; or testing security in any way); or

18.4.5 are, in our reasonable belief, using the Platform and/or any of our Services in connection with fraudulent, illegal, unethical or immoral or any other Prohibited Activity, or to promote or support discriminatory, extreme or offensive practices, or permitting or encouraging a third party to do any of these things.

18.5 We can also suspend or close your Corporate Account with immediate effect if:

18.5.1 we are obliged to do so by Applicable Laws, a court order or the instructions of an ombudsman, regulatory or government body, or we reasonably believe that a court order is, or instructions from an ombudsman, regulatory or government body are, likely to be given;

18.5.2 we reasonably believe that the way in which you, your Authorised Users or Client Administrators are using some or all of our Services might expose us to any sanction, penalty, fine, censure, direction or order from any court, ombudsman, regulatory or government body; or

18.5.3 we become aware of a dispute over the operation of your Corporate Account or the ownership of funds on your account or that an interest in your Corporate Account has been claimed by a third party.

18.6 We will give you notice in accordance with Clause 28 as soon as possible that we are suspending or closing your Corporate Account and tell you why (unless it would compromise our reasonable security measures or would be unlawful).

18.7 If you wish to close your Corporate Account, any money held on your Corporate Account will be transferred to a bank account or to an account held with another electronic payment system as indicated by you. Any applicable fees (fees for services provided by us set out in the Fee Schedule and other unpaid amounts, including but not limited to, fines and damages incurred by us due to the breach of the Agreement or other obligations committed by you, which have been imposed by international payment card organizations, other financial institutions and/ or state institutions) will be deducted from your balance prior to transferring the funds. In the event of a dispute between you and us, the funds under dispute will be retained until the dispute is resolved.

19. General

19.1 We will produce a monthly statement that shows various details relating to the Transactions on your Corporate Account since your last statement and what payment is due to us that month. We will provide this to you on the Platform on the last day of each calendar month. You, your Authorised Users and Client Administrators will be alerted once we have uploaded it via a notification on Intercom.

19.2 Termination of this Agreement does not affect your or our accrued rights and obligations at the date of termination.

19.3 A failure to exercise or delay in exercising a right or remedy provided by this Agreement or by Applicable Laws does not constitute a waiver of the right or remedy or a waiver of other rights or remedies. No single or partial exercise of a right or remedy provided by this Agreement or by Applicable Laws prevents further exercise of the right or remedy or the exercise of another right or remedy.

19.4 In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

19.5 You may not assign, transfer or create any trust in respect of, or purport to assign, transfer or create any trust in respect of, a right or obligation under this Agreement.

19.6 Neither this Agreement nor any Transaction carried out under them shall confer contractual or other rights on, or be enforceable against us by, any party other than you.

20. Collection of information

20.1 Customer Identification

Financial institutions are required to assist in the fight against money laundering activities and the funding of terrorism by obtaining, verifying, and recording identifying information about all customers. We may therefore ask you to supply us with personal identifying information relating to you, a Sender and any Recipient and we may also legally consult other sources to obtain information about you, any Sender and any Recipient.

20.2 Verification and Checks

20.2.1 We will verify your corporate address and personal data of your directors, your authorised persons, as well as any partner, persons with significant control over your business, or beneficial owners in order to confirm your identity. We may also pass the aforementioned personal data to a credit reference agency, which may keep a record of that information. This is done only to confirm your identity, we do not perform credit checks and therefore your credit rating will be unaffected. We may also need to verify the identity of a Recipient in the same way. All information provided by you is treated securely and strictly in accordance with all Applicable Laws. We may do this directly, for example by asking you for additional information, or asking you to take steps to confirm ownership of your accounts, Payment Instruments or email address; or indirectly, for example by verifying your information against third party databases or through other sources.

20.2.2 If you do not provide the documents we request in order to carry out our verification and checks, we have the right to suspend your Corporate Account registration process.

20.3 Provision of payment services

20.3.1 You explicitly consent to us accessing, processing and retaining your personal data and that of all of your representatives referred to in Clause 20.2.1 for the purposes of providing the payment services described in the Agreement. We need your explicit consent as a result of certain rules which apply to us (the United Kingdom's E-Money Regulations 2011 and Payment Services Regulations 2017). This consent does not relate to how we process your personal data for other purposes, which are explained in our Privacy Policy. The Privacy Policy can be found here: https://globalpayments.theswipecompany.com/

20.3.2 In order to provide the Services to you, Swipe works with suppliers and correspondent banking service providers. We normally share your personal data with:

(a) suppliers who provide us with IT, payment and card delivery services which includes Blackthorn Finance Ltd and Blackthorn Cards Services Limited;

(b) our banking and financial-services partners and payments networks, including Visa and Mastercard in order to help us provide our services to you - this

includes banking and lending partners, banking intermediaries and international payment-service providers;

(c) analytics providers and search information providers, to help us improve the Platform;

(d) customer-service providers, survey providers and developer, to help us to provide our services to you; and

(e) communications services providers, to help us send you emails, push notifications and text messages.

20.4 Fraud Prevention

20.4.1 The personal data we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found here: http://www.cifas.org.uk/fpn

20.4.2 Details of the personal data that will be processed include, for example: name and address, date of birth, contact details, financial information, employment details and device identifiers including IP address.

20.4.3 We and fraud prevention agencies may also enable law enforcement agencies to access and use your personal data to detect, investigate and prevent crime.

20.4.4 Fraud prevention agencies can hold your personal data for different periods of time, and if you are considered to pose a fraud or money laundering risk, your data can be held for up to six years.

20.4.5 As part of the processing of your personal data, decisions may be made by automated means. This means we may automatically decide that you pose a fraud or money laundering risk if our processing reveals your behaviour to be consistent with money laundering or known fraudulent conduct, or is inconsistent with your previous submissions, or you appear to have deliberately hidden your true identity. You have rights in relation to automated decision making. If you want to know more please contact us using the details set out in Clause 29 below.

20.4.6 A record of any fraud or money laundering risk will be retained by the fraud prevention agencies, and may result in others refusing to provide services, financing or employment to you. If you have any questions about this, please contact us using the details set out in Clause 29 below.

20.4.7 Fraud prevention agencies may allow the transfer of your personal data outside of the UK. This may be to a country where the UK government has decided that your data will be protected to UK standards, but if the transfer is to another type of country, then the fraud prevention agencies will ensure your data continues to be protected by ensuring appropriate safeguards are in place.

20.5 We may use information about you and your representatives to discharge the responsibilities referred to in Clauses 20.1, 20.2, 20.3 and 20.4 above to provide the Services and to manage our relationship with you. We may disclose this information to Senders, Recipients and intermediaries in the course of providing the Services or as required by Regulation EC 1781/2006 on information on the payer accompanying transfers of funds; persons with whom we share information for anti- money-laundering, security verification or validation purposes; regulatory and prosecuting authorities; service providers acting on our behalf. This may involve transfer of information to countries which do not have data protection laws as strict as those in the UK.

20.6 Individuals wishing to access or correct the information that we hold about them can do so by contacting our Data Protection Officer at Swipe International Ltd, Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX. Before giving us information about any individual you should make sure that they are aware of the matters set out in this Clause 20.

21. Confidential Information

21.1 You agree to take all necessary precautions when sending us confidential information. You agree to maintain the confidentiality of confidential information received from us.

21.2 We may store, reproduce, download or transmit confidential information through any website, internet server or other secured means for your use or retrieval. We will use adequate security, encryption and authentication procedures/software to prevent any unauthorised third-party disclosure.

21.3 We may transmit or accept confidential information by means we deem appropriate to and from you or third parties if:

21.3.1 we consider it necessary to provide the Services;

21.3.2 it is consistent with market practices;

21.3.3 there is no other means of transmitting or receiving such confidential information; and

21.3.4 there is a contingency situation.

21.4 We accept no liability for the consequences of a third party intercepting confidential information or when we or any third-party provider is required to disclose confidential information in accordance with local regulation.

22. Information Published Online

22.1 Some information available through the Platform has been obtained by Swipe from third party publicly available sources. While Swipe produces or obtains such information from third party publicly available sources generally considered reliable, it cannot verify its accuracy or completeness. You should not rely such information from third party publicly available sources available on the Platform as a primary source of information as it may not be up to date; use of such information from third party publicly available sources available on the Platform is entirely at your own risk.

22.2 Knowledge Based Videos: the material on any knowledge based videos on the Platform aims to depict, at a high level, how the Services are proposed to work end-to-end to both current and prospective Swipe users. They should not be referred to or used for any other purpose. This material may include guidelines, recommendations or data interpretation. You are solely and exclusively responsible for deciding any particular course of action or omission and for implementing any actions or taking any business decision on this basis. We are not liable for such actions or decisions and their consequences.

23. Intellectual property

23.1 The Platform, the content, the name Swipe International and other names, logos, signs, domain names, email addresses and other indications of origin displayed on the Website or the Application relating to our products and/or services and all intellectual property relating to them and contained in them (including but not limited to copyrights, patents, database rights, design right, trademarks) are owned by us, our affiliates, subsidiary companies or third party licensors. You shall not acquire any right, title and interest in and to the Platform shall remain our property of such other third parties.

23.2 You may use the Platform only for the purpose of the bona fide use of our Services as a corporate customer and only permitted by this Agreement. You may not duplicate, publish, modify, create derivate works from, participate in the transfer or sale of, post on the internet, or in any way distribute or exploit the Website, the Application or any portion thereof for any public or commercial use without our express permission. You may not: (a) use any robot, spider, scraper or other automated device to access the Website or the Application or to use the Services and/or (b) remove or alter any copyright, trademark or other proprietary notice or legend displayed on the Website (or printed pages of the Website).

24. Outsourcing

24.1 Some of the Services we offer you are provided with the help of or are outsourced to third-party providers. Such third-party outsourcing may include solutions such as software as a service, cloud computing, external hosting, deployment management, technical service provision or similar solutions and may be located anywhere in the world. You may, upon request, obtain a list of concerned countries. Such list may change from time to time.

24.2 Such solutions will be governed by Applicable Laws relevant to the jurisdiction in which they are carried out or where the third-party provider may be located. They may lead to additional obligations and responsibilities including, but not limited to, the disclosure of information.

24.3 We have put in place policies and internal risk procedures to ensure that the necessary steps are taken to assess and manage any risks that arise from such outsourcing. Amongst other things, we ensure that security measures are in place to maintain the confidentiality and integrity of its information and data.

25. Reports Provided to Auditors

25.1 If we receive a request, duly authorised by you, from auditors, we will provide them with all aspects of your position via a standard report. We will also send you a copy of the report upon request.

25.2 You acknowledge that data in reports sent by email may be of a confidential nature and that emails, by their nature, may be intercepted, altered by or misdirected to third parties. You agree that use of emails in this respect is at your own risk. We accept no liability for any consequence arising from the issue of emails for the purpose of sending these reports.

26. Acceptance of Currencies

26.1 We may:

26.1.1 accept any currency recognised by an issuing Central Bank as a Settlement Currency ; and

26.1.2 determine the use of a Settlement Currency within the Platform.

26.2 Settlement Currencies are available on the Platform and can be identified by the three-letter “ISO”(International Organisation for Standardisation) code.

26.3 Specific rules may apply to some Settlement Currencies. These can be found on the Platform.

26.4 We reserve the right, in our sole discretion and without notice:

26.4.1 to not accept a currency as a Settlement Currency on the Platform; and

26.4.2 to withdraw acceptance of any previously accepted Settlement Currency; and

26.4.3 to refuse to deliver any Transaction into the Platform of a Settlement Currency where we regard that delivering this Settlement Currency is not in the best interests of our users.

27. Governing law and jurisdiction

27.1 This Agreement and all matters arising from or connected with it are governed by English law.

27.2 The courts of England and Wales have exclusive jurisdiction to settle any dispute arising from or connected with this Agreement (including a dispute regarding its existence, validity or termination or relating to any non-contractual or other obligation arising out of or in connection with it) or the consequences of its nullity. You may also be eligible for redress for any dispute and matter arising out of or in connection with this Agreement through the dispute resolution mechanism provided by the Financial Ombudsman Service (please see Clause 29, below for further details).

28. Contacting you

28.1 If you need to speak to us, please refer to the contact information in Clause 29.2.

28.2 If we need to speak to you, or let you know about something, in the first instance we will contact you, your Authorised Users and Client Administrators via the ‘Intercom’ live chat function on the Platform but occasionally we may also send you, your Authorised Users and Client Administrators an email to the email address we have on record for you, your Authorised Users and Client Administrators or an SMS to the mobile number we have on record for you, your Authorised Users and Client Administrators.

28.3 We will always communicate with you in English.

29. Help, information and complaints

29.1 If you have any queries or require a copy of this Agreement (or any document mentioned in them), please contact us using the contact details in Clause 1 above.

29.2 We aim to provide the highest level of customer service possible. If you do experience a problem, we will always seek to resolve this as quickly and efficiently as possible. However, if you are unhappy and would like to make a complaint, please refer to our Complaints Policy for details of our internal process for dealing with complaints promptly and fairly. Our Complaints Policy is available on our Website or by contacting our customer service team at:

Customer Services and Complaints Dept Swipe International Ltd

Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX

Phone: +44 (0)2080370936

Email: support@theswipecompany.com

29.3 We will then investigate the matter and try to reach a satisfactory conclusion. Complaints may be recorded and monitored for our internal use; we may submit an anonymised summary of complaints made to us during a particular period of time to our regulator. We will send you a final response within 15 Business Days after the day on which we received your complaint. In exceptional circumstances, where we cannot send you a final response within this time for reasons beyond our control, we will instead send you a holding reply within this time specifying the reasons for the delay in answering your complaint and the deadline by which you will receive our final response, being not later than 35 Business Days after the day on which we received your complaint. If you do not receive our final response or you are unhappy with our final response, you may be able to refer your complaint to The Financial Ombudsman Services (the “FOS”). You may have the right to make a complaint online at https://www.financial-ombudsman.org.uk/contact-us/complain-online or by calling the FOS on 0800 023 4567. You can also contact FOS at complaint.info@financial- ombudsman.org.uk about something other than a new complaint.

29.4 This Agreement is agreed and accepted by you if you sign up and register to use the Services and the Platform.

29.5 This Agreement is agreed and accepted by you each time you accept this Agreement by checking the box on our Website, when you sign up to using our Website, and by using our Website