PAYOK TERMS AND CONDITIONS OF CONTRACTING

PayOk Financial Services, S.L. (Payment Institution regulated by the Bank of Spain with license number BE 6928)

Last contract update: 14-04-2026

1. PROVIDER IDENTIFICATION

1.1 Entity details

• Corporate name: PayOk Financial Services, S.L.
• CIF/NIF (Tax ID): B73697567
• LEI: 254900GYRB3SRHK4K565
• Registered office: C/ Concordia, nº 39, 30500, Molina de Segura, Murcia (Spain)
• Basic and legal information: Registered in the Mercantile Registry of Murcia, Volume 2795, Book 0, Folio 168, Section 8, Page MU75166, Entry or Record 6, Date 11/10/2023
• Official registration with the Bank of Spain: BE 6928, subject to supervision as an Exempt Payment Institution regulated by Royal Decree-Law 19/2018, of November 23, on payment services and other urgent financial measures.

1.2 Nature and regulation

PayOk Financial Services, S.L. (hereinafter, “PayOk” or “the Entity”) is a Payment Institution regulated under Spanish and European Union (EU) regulations, specifically Directive (EU) 2015/2366 (PSD2) and Law 10/2010, of April 28, on the prevention of money laundering and terrorist financing (“PML/TF”). Its authorization does not permit the taking of deposits, but rather the execution of payment services, subject to the control and supervision of the Bank of Spain.

PayOk maintains agreements with various acquiring banks, whose obligations and internal policies are transferred to the client within these Terms and Conditions.

2. DESCRIPTION OF THE SERVICES OFFERED

2.1 Virtual POS Set-up with 3D Secure for the sale of tangible products

• Targeted at merchants selling items that require physical delivery.
• Includes 3D Secure to minimize fraud and chargebacks.
• Accepts card transactions from different countries, enabling international expansion.
• Integration with logistics or inventory control systems.
• Complies with PSD2 and GDPR guidelines, providing maximum security.

2.2 Virtual POS Set-up with 3D Secure for the sale of intangible services

• Targeted at merchants selling items without physical delivery.
• Includes 3D Secure to minimize fraud and chargebacks.
• Accepts card transactions from different countries, enabling international expansion.
• Integration with logistics or inventory control systems.
• Complies with PSD2 and GDPR guidelines, providing maximum security.

2.3 Limitations or prerequisites

• Prior KYC (Know Your Customer) verification, pursuant to Law 10/2010 and its provisions.
• Subject to final approval by PayOk and/or our acquiring banks, in compliance with anti-fraud and anti-money laundering regulations.

3. CONTRACTING PROCESS

3.1 Contracting steps

• The client chooses the appropriate Virtual POS (tangible products or intangible services).
• The client provides their data (identification, corporate information) on the PayOk website, accepting the Privacy Policy and these Terms and Conditions.
• The client pays the set-up fee; without this payment, the contractual relationship will not take effect.

3.2 Formalization

• The contract is finalized once PayOk verifies the payment and the KYC documentation (Law 10/2010).
• Integration keys and the sub-acquiring account are then enabled.
• PayOk makes the contract available in Spanish (official language), English, and Russian. In the event of any discrepancy, the Spanish version shall prevail.

4. PRICES, TAXES, AND ADDITIONAL EXPENSES

• The set-up price is displayed in euros (€), including 21% VAT (the tax currently in force in Spain).
• There are no shipping costs or additional fees for setting up a virtual POS.
• The client may review the total amount before proceeding to payment.

5. METHODS OF PAYMENT

• Accepted payment methods: Credit/debit cards (Visa, MasterCard, and Cirrus), and bank transfers to a Spanish bank account.
• PayOk is certified in PCI DSS, utilizing secure encryption for all transactions.
• Once payment is received, the invoice is issued and the activation process for the selected terminal begins.

6. DELIVERY AND ACTIVATION OF THE SERVICE

• PayOk will activate the Virtual POS service within approximately 24 business hours from payment confirmation and validation of KYC documents.
• PayOk reserves the right to temporarily withhold sales funds until compliance with anti-money laundering regulations is confirmed.
• The client will have access to technical support (via email, telephone, LiveChat, or WhatsApp) once the set-up is complete.

7. RIGHT OF WITHDRAWAL AND CANCELLATION

• The client has 14 calendar days to withdraw without giving any reason, counting from the contracting or activation of the service, provided that no transactions have been processed up to that point.
• Withdrawal can be requested via email or through the form on the PayOk website. The set-up fee will be refunded within a maximum of 14 days, unless a legal exception applies due to the service performance having already commenced.
• Early termination can be requested at any time; however, if there are outstanding balances or legal procedures pending, these must be resolved before the termination becomes effective.

8. DURATION, RENEWAL, AND TERMINATION OF THE CONTRACT

• The initial term of the contract is 1 year, automatically renewable for equal periods without charging a new set-up fee.
• PayOk may terminate the contract immediately if it detects serious breaches, fraud risks, money laundering, or prohibited activities that jeopardize its reputation or that of the acquiring banks.
• The client may terminate the contract by notifying PayOk, provided they settle their outstanding obligations and follow the established termination procedure.

9. OBLIGATIONS AND RIGHTS OF THE PARTIES

9.1 Obligations of PayOk

• To provide the service with due professional diligence, complying with payment services regulations (PSD2) and the guidelines of the Bank of Spain.
• To guarantee the integration of anti-fraud measures (3D Secure, PCI DSS) and transparency in payments.
• To pass on the contractual requirements of our acquiring banks to the client and ensure compliance with them.

9.2 Obligations of the client

• To provide complete and updated data, and to respect current laws, card network regulations, and PayOk’s conditions.
• To refrain from unlawful, fraudulent, or prohibited activities, and to not use the payment gateway for activities unauthorized by law or this contract.

9.3 Rights of PayOk

• To request the documentation necessary to comply with KYC and PML/TF obligations.
• To temporarily suspend operations if it detects potential violations or serious risks to security.

9.4 Prohibited businesses

In accordance with regulations and the provisions established by acquiring banks, PayOk declares the following businesses or activities unacceptable:

Adult content and services that violate the law, Binary options, Cryptocurrencies (if they do not comply with applicable regulations), Signal jammers or blocking devices, Drug paraphernalia, Drugs (soft or hard), Get-rich-quick schemes, Grow shops or products directly aimed at cultivating illicit drugs, Human body parts or bodily fluids (except hair/teeth), Human trafficking, Illegal wildlife trade of protected/endangered species, Intellectual property rights infringement, Deceptive marketing, Precious metals (gold, silver, platinum, palladium) offered as speculative investment, Products/services that promote hate, violence, discrimination, terrorism, or harassment, Pyramid selling schemes, Real estate property (not services), Sale of social media traction: "likes" or "views", Spyware devices/services/software, Sale of products/services illegal under applicable law, Tobacco (except e-cigarettes with specific regulation), Unlicensed financial advisors, Unlicensed gambling, Credits/currencies of virtual worlds exchangeable for cash or real products/services, Unauthorized weapons, ammunition, or related items.

PayOk may block the contract or operations if its use against this policy is detected, with the subsequent enforcement of liabilities.

10. LIMITATION OF LIABILITY

• PayOk shall not be held liable for any damages or losses arising from causes beyond its control, such as network failures, internet outages, or force majeure events.
• The content and commercialization of the products/services offered by the client are the sole responsibility of the client. PayOk does not answer for the quality or legality of said products or services.
• There shall be no liability for loss of profits, indirect damages, or other special or consequential damages, except in cases of willful misconduct or gross negligence by PayOk.

11. INTELLECTUAL AND INDUSTRIAL PROPERTY

• PayOk holds the trademark rights, software, manuals, and infrastructure associated with the payment platform.
• The client is granted a limited right of use for the duration of the contract; its unauthorized reproduction, assignment, or exploitation is strictly prohibited.

12. PROTECTION OF PERSONAL DATA

• PayOk acts as the data controller for the data collected, in accordance with the GDPR (Regulation (EU) 2016/679) and the LOPDGDD (Organic Law 3/2018).
• Purpose: Management of the contractual relationship, online fraud control, and compliance with PML/TF.
• Lawful basis: Consent of the data subject and/or legal compliance obligations (prevention of money laundering).
• Exercise of rights: Access, rectification, erasure, objection, restriction, and portability by sending an email to [email protected]. Further details can be found in our Privacy Policy.

13. CUSTOMER SERVICE AND COMPLAINTS

• The official channel of PayOk is its Customer Service department.
• PayOk undertakes to resolve complaints as quickly as possible and with maximum diligence.
• If the user is not satisfied, they may escalate the matter to the Bank of Spain Complaints Service, given that PayOk is a supervised Payment Institution.

14. ALTERNATIVE DISPUTE RESOLUTION

• In contracts with consumers, there is the option to use the EU Online Dispute Resolution Platform, pursuant to Regulation (EU) 524/2013.
• The use of this channel does not preclude subsequent ordinary judicial proceedings.

15. GOVERNING LAW AND JURISDICTION

• Spanish law and European regulations regarding payment services (PSD2), data protection, and money laundering shall apply.
• Any dispute shall be submitted to the jurisdiction of the Courts and Tribunals of Molina de Segura (Murcia, Spain), with waiver of any other jurisdiction.

16. OTHER SECTOR-SPECIFIC CLAUSES

16.1 Prevention of Money Laundering (PML/TF)

The client shall comply with the submission of information and documentation requested under Law 10/2010, empowering PayOk to carry out the necessary verifications and to withhold funds or block suspicious operations.

16.2 Risk warnings

Our acquiring banks may impose additional security conditions and may even suspend or withhold payments linked to indications of fraud, security breaches, or regulatory non-compliance.

16.3 Conditions for professional use

Any natural or legal person may access PayOk's services, provided they comply with applicable regulations and do not engage in legal or contractual violations.

17. AMENDMENT OF TERMS CLAUSE

17.1 Modification of the Terms and Conditions

PayOk may amend these Terms and Conditions to adapt them to changes in legal regulations, requirements of supervisory authorities, technological improvements, or internal policies. The client will be notified at least thirty (30) calendar days in advance, unless a regulation establishes a different period or it is a legal obligation requiring immediate compliance.

17.2 Right of termination by the client

If the client does not accept the modifications, they may terminate the contract without penalty by communicating this prior to the effective date of the changes. Failure to notify within the indicated period will imply acceptance of the new conditions.

18. FORCE MAJEURE AND SERVICE CONTINUITY CLAUSE

18.1 Force Majeure

Neither party shall be liable for failures due to force majeure events, such as natural disasters, pandemics, war, massive cyberattacks, power failures, or government decisions that make the provision of services impossible.

18.2 Exemption from liability

For the duration of the force majeure event, the affected party shall not incur liability for delays or defaults but shall take reasonable measures to minimize its effects and resume normalcy as soon as possible.

18.3 Restitutional commitment

The affected party must immediately notify the other party of the existence of the force majeure event and make the necessary efforts to restore the service.

19. ANTI-FRAUD AND ABUSE PREVENTION CLAUSE

19.1 Right to monitor

PayOk reserves the right to monitor all transactions carried out on the platform to detect potential fraud, money laundering, abuse, or other improper uses.

19.2 Preventive blocking

If fraud or abuse patterns are detected, PayOk may block the client's account or the affected transactions while investigating their legitimacy, always informing the client to the extent permitted by law.

20. NOTIFICATIONS CLAUSE

20.1 Valid channels

Notifications between the parties may be made:

• Via the email address provided by the client.
• Through internal messaging within the PayOk platform.
• By certified mail or courier service to PayOk’s legal address or to the postal address designated by the client.

20.2 Validity of electronic communications

Electronic messages that verify date, authenticity, and destination shall be considered valid notifications with full legal effect.

21. SUBCONTRACTING CLAUSE

21.1 Authorization to subcontract

The client expressly authorizes PayOk to subcontract services required to provide a reliable and secure infrastructure (IT security, technical support) with specialized entities, provided that this does not impair confidentiality and data protection obligations.

21.2 Regulatory compliance

PayOk will guarantee that subcontractors comply with the same legal requirements governing this contract (PML/TF, GDPR, PSD2).

22. INDEMNIFICATION AGAINST THIRD-PARTY CLAIMS CLAUSE

22.1 Liability of the client

The client shall be solely responsible for third-party claims, including those from their own consumers, if such claims are based on an illegal or improper use of the PayOk platform or on transactions prohibited by law.

22.2 Exoneration of PayOk

The client shall hold PayOk harmless from damages, costs, or legal defense expenses that may arise from the commercialization of products or services contrary to the law or this contract.

23. AUDIT AND CONTROL CLAUSE

23.1 Audit rights

PayOk may, through its own personnel or an authorized auditor, verify compliance with contractual and regulatory conditions. The audit will be carried out with reasonable prior notice and within business hours, except in cases of justified urgency.

23.2 Collaboration of the client

The client undertakes to facilitate access to the information and documentation necessary for the audit, provided that it does not violate third-party rights or commercial secrets, and complies with legal requirements regarding data protection.

24. EXCLUSION OF WARRANTIES CLAUSE

24.1 Service availability

PayOk does not guarantee total, continuous, and uninterrupted availability of the service, although it will apply all due diligence to prevent interruptions or incidents.

24.2 Scope of the exclusion

Unless mandatory by law, PayOk shall not be liable for service deficiencies due to third parties (telecommunications operators, external networks) or due to fortuitous events/force majeure circumstances.

25. REGULATORY CHANGES MONITORING CLAUSE

25.1 Impact on operations

If a new regulation or directive from supervisory authorities (Bank of Spain, EBA) comes into force that alters the obligations of PayOk or the client, both parties agree to update the relevant provisions.

25.2 Adaptation of conditions

PayOk will notify the client of the necessary adaptations to safeguard the validity and efficiency of the service, without this constituting a unilateral modification of the contract that does not respond to said legal requirement.

26. ASSIGNMENT OF CONTRACT CLAUSE

26.1 Prohibition of assignment by the client

The client may not assign, in whole or in part, their rights or obligations under this contract to third parties without the express written consent of PayOk, unless authorized by a mandatory rule.

26.2 Right of assignment by PayOk

PayOk may assign this contract, in whole or in part, within its business group or to third parties, provided that the assignee complies with the applicable legal and regulatory conditions, giving due notice to the client.

RELEVANT EXTERNAL URLS

• Bank of Spain (BdE): https://www.bde.es
• European Banking Authority (EBA): https://www.eba.europa.eu
• Spanish Data Protection Agency (AEPD): https://www.aepd.es
• ODR Platform - Online Dispute Resolution: https://ec.europa.eu/consumers/odr
• EU Legislative References (EUR-Lex): https://eur-lex.europa.eu
• PayOk Privacy Policy: https://www.payok.app/politica-privacidad

BY SIGNING THIS CONTRACT, THE CLIENT DECLARES TO HAVE READ, UNDERSTOOD, AND FULLY ACCEPTED ALL SECTIONS OF THESE TERMS AND CONDITIONS, ACKNOWLEDGING THEIR BINDING NATURE AND SUBMITTING TO CURRENT REGULATIONS AND COMPETENT AUTHORITIES.

In Molina de Segura, Murcia (Spain), on 14-04-2026.

Copyright © 2026 - Reg. No. M4249413 - PayOk Financial Services, S.L. All rights reserved.

LEGAL NOTICE, PRIVACY POLICY, AND COOKIES POLICY

1. LEGAL NOTICE

In compliance with Article 10 of Law 34/2002, of July 11, on Information Society Services and Electronic Commerce (LSSICE), the identifying details of the company are outlined below:

• Corporate name: PAYOK FINANCIAL SERVICES, S.L. (Hereinafter, PAYOK).
• CIF (Tax ID): B73697567
• Address: C/ Concordia, nº 39, 30500, Molina de Segura, Murcia - Spain
• Telephone: +34 613 01 87 17
• Email: [email protected]
• Domain name: www.payok.app
• Administrative authorization: Authorization granted by the National Markets and Competition Commission (CNMC) for the provision of electronic communications services.

Commercial registry

The company PAYOK FINANCIAL SERVICES, S.L., has been registered in the Mercantile Registry of Murcia, under Volume 2795, Book 0, Folio 168, Section 8, Page MU75166, Entry or Record 6, Date 11/10/2023.

Purpose of the website

Provision of financial and derived sector services related to PAYOK. This legal notice (hereinafter, the "Legal Notice") regulates the use of the website: www.payok.app.

Applicable legislation

In general, relations between PAYOK and the Users of its telematic services present on this website are subject to Spanish legislation and jurisdiction.

User access and use

The User is informed, and accepts, that access to this website does not imply, in any way, the beginning of a commercial relationship with PAYOK or any of its branches.

Intellectual and industrial property

The intellectual property rights of the content of the web pages, their graphic design, and codes are owned by PAYOK. Therefore, their reproduction, distribution, public communication, transformation, or any other activity carried out with the contents of its web pages is prohibited, even when citing the sources, except with the prior written consent of PAYOK.

Website content and links

PAYOK reserves the right to update, modify, or delete the information contained in its web pages, and may even limit or deny access to such information to certain users.

PAYOK assumes no responsibility whatsoever for the information contained on third-party websites that can be accessed via "links" or hyperlinks from any web page owned by PAYOK.

The presence of "links" or hyperlinks on the web pages of PAYOK is for informational purposes only and under no circumstances constitutes a suggestion, invitation, or recommendation regarding them.

2. PRIVACY POLICY

Through this data protection policy, PAYOK informs the users of its website about how their data will be managed, so that they may freely and voluntarily decide whether they wish to provide the requested information.

Privacy principles and guarantees

On this website, users' personal data is respected and protected. As such, you should know that your rights are guaranteed.

At PAYOK, we guarantee compliance with the following principles to safeguard your privacy:

• We never request personal information unless it is genuinely necessary to provide the services required by the client.
• We never share our users' personal information with anyone, except to comply with the law or if we have the user's explicit authorization.
• We will never use your personal data for any purpose other than that stated in this privacy policy.

Please note that this Privacy Policy may be modified to adapt to new regulatory requirements, so users are advised to review it periodically.

PAYOK has adapted this website to the requirements of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 (GDPR) and Organic Law 3/2018, on the Protection of Personal Data and guarantee of digital rights (LOPDGDD), as well as Law 34/2002, of July 11, on Information Society Services and Electronic Commerce (LSSICE).

Data controller

• Corporate name: PAYOK FINANCIAL SERVICES, S.L.
• CIF (Tax ID): B73697567
• Address: C/ Concordia, nº 39, 30500, Molina de Segura, Murcia - Spain
• Telephone: +34 613 01 87 17
• Email: [email protected]

For the processing of our users' data, we implement all the technical and organizational security measures established by current legislation.

Principles applied to personal information

In processing your personal data, we will apply the following principles which align with the requirements of the GDPR:

• Lawfulness, fairness, and transparency: We will always require your consent to process your personal data for one or more specific purposes, of which we will inform you beforehand with absolute transparency.
• Data minimization: We will only request data that is strictly necessary in relation to the purposes for which it is required.
• Storage limitation: Data will be kept for no longer than is necessary for the purposes of the processing.
• Integrity and confidentiality: Your data will be treated in a way that ensures appropriate security and confidentiality. PAYOK will take all necessary precautions to prevent unauthorized access or misuse of the data.

How did we obtain your data?

The personal data we process comes from:

• Contact forms.
• Newsletter subscriptions.
• Email communications.
• User registration.
• Sign-ups for events and activities.

For what purpose do we process your personal data?

When a user connects to this website—for example, to comment on a post, send an email, subscribe, or request a service—they are providing personal information for which PAYOK is responsible. This information may include data such as your IP address, name, physical address, email address, telephone number, etc. By providing this information, the user consents to its management and storage as described in this document.

The information capture systems used are:

• Contact form: Data (Name, Email) is requested to respond to user requirements, queries, or complaints.
• User registration form: When creating an account, data is requested (First name, last name, address, phone number, email, password).
• Newsletter form: Data (Name, Email) is requested to send commercial and operational updates.
• Cookies: Other non-identifying data is collected, as detailed in the cookies policy.

PAYOK will not transfer personal data that could identify the user to third parties without prior consent.

What is the lawful basis for processing your data?

PAYOK is authorized to process your personal data based on the consent of the data subject, as provided for in Article 6.1.a of the aforementioned GDPR.

How long will your data be stored?

The personal data provided will be kept for as long as a commercial relationship is maintained, and, where applicable, for the years necessary to comply with legal obligations, or until the data subject requests the erasure of their data.

What are your rights when you provide us with your data?

Data subjects have the right to:

• Access: Access their personal data held by PAYOK.
• Rectification: Modify inaccurate data.
• Erasure (Cancellation): Delete their data when it is no longer necessary.
• Objection: Object to the use of their data for a purpose other than the one chosen.
• Portability: Request the transmission of their data to another data controller.
• Restriction: Limit the use and storage period of their data.
• Right to be forgotten: Request the deletion of their internet history, where applicable.

These rights can be exercised through our data protection officer via email at: dpd@valegalespaña.com.

Finally, we inform you of your right to file a complaint with the Spanish Data Protection Agency (AEPD).

Accuracy of data

The user is solely responsible for the veracity and correctness of the data sent to PAYOK, exonerating the company from any liability in this regard. Users guarantee and answer for the accuracy, validity, and authenticity of the personal data provided, and undertake to keep it duly updated.

Security measures

PAYOK undertakes to use and process users' personal data confidentially, adopting the necessary technical and organizational measures to prevent its alteration, loss, unauthorized processing, or access. If a security breach occurs, PAYOK will notify the user without undue delay.

Acceptance, consent, and revocability

The user declares to have been informed of the conditions regarding personal data protection, accepting and consenting to the processing thereof by PAYOK. The consent provided is revocable at any time by notifying PAYOK.

3. COOKIES POLICY

Through this document, PAYOK sets forth its Policy on the collection and processing of cookies, in compliance with the provisions of Article 22.2 of Law 34/2002 (LSSICE).

What are Cookies?

Cookies are small files installed on your device when you access the web. Their functions include storing preferences, collecting statistical information, and facilitating navigation. Cookies do not provide references that allow the deduction of personal data. The user can configure their browser to notify or reject their installation.

Why are they important?

From a technical standpoint, they allow the website to work fluidly and adapt to your preferences. Furthermore, they help improve services through statistical information and make advertising more efficient.

How do we use Cookies?

Browsing this website involves the installation of the following types of Cookies:

• First-party Cookies: Sent and managed directly by PAYOK.
• Third-party Cookies: Sent anonymously by third parties for statistical analysis (e.g., social networks).
• Technical and performance Cookies: Retain preference settings for tools or services so you do not have to reconfigure them on each visit.
• Statistical analysis Cookies: Quantify the number of visitors and analyze the use of our services anonymously.
• Advertising Cookies: Manage advertising spaces by adapting content to your browsing profile.
• Session Cookies: Store data only while you access the page.
• Persistent Cookies: Store data on the terminal for a defined period.

How can I configure my preferences?

You can allow, block, or delete the Cookies installed on your computer by configuring your browser options:

• Google Chrome
• Mozilla Firefox
• Internet Explorer / Edge
• Safari / Safari for iOS

What happens if Cookies are disabled?

If you block the installation of Cookies, certain services on our website will be disabled and the overall functionality of the page may be reduced.

What types of Cookies do we use at PAYOK?

Acceptance of Cookies according to user choice

If you continue browsing after being informed about our Cookies Policy, we understand that you accept the use of Cookies.

When accessing this website or application for the first time, you will see a banner informing you of the use of Cookies and where you can consult this policy. If you consent to the use of Cookies, continue browsing, or click on any link, it will be understood that you have consented to our Cookies policy and, therefore, to their installation on your computer or device.

In addition to the use of our own Cookies, we allow third parties to set cookies and access them on your computer. The consent to the use of Cookies from these companies is linked to browsing this website.

In Molina de Segura, Murcia (Spain), on 14-04-2026.

Copyright © 2026 - Reg. No. M4249413 - PayOk Financial Services, S.L. All rights reserved.