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These General Terms and Conditions apply to the use of payment services provided through the Phyre App mobile application – an App that allows the issuance of payment cards, making payments by digitizing a payment card through MDES (MasterCard Digital Enablement Service) on a mobile device with Android and iOS operating systems, opening and maintaining payment accounts in BGN for individuals, credit transfers in BGN and EUR from and to such payment accounts, maintaining a virtual wallet for loyalty cards, interactive viewing of offers, and more.
A detailed description of the payment services offered by Paynetics AD through Phyre App can be found below in the Section "Payment and related services offered by Paynetics through Phyre Electronic Wallet".
We expressly inform you that these General Terms and Conditions apply to all functionalities that Phyre App provides in connection with the services offered by Paynetics AD, and when new services are added, these General Terms and Conditions will be supplemented accordingly, in the manner specified below.
Please read these Terms and Conditions carefully and keep a copy of them for your records. You may request from us at any time a copy of these Terms and Conditions, as well as the applicable fee rates and current limits and/or a statement of the most recent transactions made through your Phyre App.
These General Terms and Conditions govern the content of the contract between you, as a user of the Phyre e-wallet, on the one hand, and on the other hand, Paynetics AD, in its capacity as an electronic money institution, acting through its agent Phyre, which is the entity responsible for the development, technical support and operation of the Phyre App.
They contain important information that may affect your rights and your ability to redeem your funds provided to Paynetics AD for the performance of payment services. These General Terms and Conditions are a framework agreement within the meaning of the Payment Services and Payment Systems Act.
By installing and activating the Phyre App on your mobile device, you accept and agree to comply with these General Terms and Conditions. Your consent to these General Terms and Conditions is given electronically through your electronic statement. The installation and activation of the Phyre App on your mobile device in the manner specified in the App will have the meaning of an electronic signature within the meaning of the Electronic Document and Electronic Trust Services Act, and by accepting these General Terms and Conditions, you agree that the legal force of your electronic signature is equivalent to that of a handwritten signature.
In these General Terms and Conditions:
"PAYNETICS" means Paynetics AD, with seat and registered address: Sofia, Stolichna Municipality, Lozenets District, 76A James Boucher Boulevard, ground floor, registered in the Commercial Register kept by the Registry Agency, with UIC 131574695. Paynetics AD is an electronic money institution that holds a license to operate as an electronic money institution, issued by the Management Board of the Bulgarian National Bank with Decision No. 44 of 11.04.2016 and is entered in the register kept by the Bulgarian National Bank, which can be found here. Paynetics carries out activities for the issuance and distribution of electronic money and for the provision of payment services under Article 4, item 1, item 3, item 4, letter "b", item 5, and item 6 of the Payment Services and Payment Systems Act. The Bulgarian National Bank supervises the activities of Paynetics.
"Phyre" means Phyre EAD – a company registered in the Republic of Bulgaria, with seat and registered address: Sofia, Stolichna Municipality, Lozenets District, 76A James Boucher Boulevard, ground floor, registered in the Commercial Register kept by the Registry Agency with UIC 203617076, which is: (a) registered by the Bulgarian National Bank as an agent of Paynetics under Article 19 of the Payment Services and Payment Systems Act and (b) provides the development, technical support and operation of the Phyre App. Phyre is a technical service provider that supports the provision of payment services, without taking possession of the funds to be transferred, including by creating and maintaining a mobile app, with the exception of payment initiation services and account information services.
"We", "us" or "our" means Paynetics alone and/or Paynetics acting through Phyre, depending on the context.
"Electronic money" means the nominal value of the funds provided by you, which are stored in electronic form, including magnetic form in the Paynetics information system. The electronic money is issued by entering in your Paynetics account of its holder, its amount, the date of issue and other data in the electronic money register stored in the Paynetics information system. The issued electronic money can be used for transactions through a Paynetics card or through your Paynetics account up to their limit for the validity period of the Card and can be loaded or recharged or redeemed back by you.
"Paynetics System" or "Phyre Electronic Wallet" means an online system created, operated and maintained by Paynetics for issuing electronic money, issuing and managing payment cards, opening and maintaining payment accounts, performing payment transactions, including, depositing cash on a payment account, executing credit transfers, accepting payments, and related data collection and exchange, which is accessible through a mobile pp (Phyre App). Paynetics and Phyre have full and exclusive intellectual property rights over the entire system.
"Phyre App" or the "App" means a mobile application for Android and iOS, through which you can use the services described in these General Terms and Conditions, which you can download free of charge from the GooglePlay and/or AppStore online stores and which, when installed on your mobile device, connects a user of a payment service and the Paynetics System. Phyre owns all property and non-property rights to the App.
"Payment and related services offered by Paynetics through the electronic wallet "Phyre App" means:
• identification (KYC) and registration of individuals as customers;
• notification of clients, including automatic notifications;
• issuance of electronic money, maintenance of electronic money accounts in BGN, EUR, GBP, RON with an individual IBAN for making incoming and outgoing payments in BGN and EUR from e-money accounts, distribution and redemption of electronic money – the service is available only to individuals registered in Phyre App until 17.03.2020 inclusive;
• issuance of a physical payment card with an integrated circuit chip with the MasterCard logo (except for gift prepaid cards) and the ability to manage it through the PhyreApp: blocking/unblocking the card, declaring the card lost, stolen, misappropriated or used without permission;
• issuance of a virtual payment MasterCard card and the ability to manage it through the PhyreApp: blocking/unblocking the card, displaying the card details / tokenization of a MasterCard payment card;
• possibility to destroy an issued Virtual Card;
• making payments by digitizing a payment card throughMastercard MDES (MasterCard Digital EnablementService) on a mobile terminal device with Android operating system and through Apple Pay on a mobile terminal device with iOS operating system;
• opening and management of payment accounts in BGN,EUR and GBP other than e-money accounts, with an individual IBAN for making incoming and outgoing payments in BGN, EUR and GBP – the service is available only to individuals registered in PhyreApp after 17.03.2020.;
• instant P2P payments;
• incoming credit transfers to a payment account with IBAN;
• outgoing credit transfers to payment accounts in BGN or EUR, maintained by a payment service provider in the Republic of Bulgaria orin another Member State of the European Union;
• top up of funds with a linked card;
• processing transactions in different currencies;
• depositing cash on a payment account through aSpecial Cash Terminal;
• other services – other payment services will be offeredthrough the PhyreApp about which you will be duly informed, and which will bedescribed in detail with an addition to these General Terms and Conditions.
"Non-payment services offered through PhyreApp" means:
• the ability to include loyalty cards with a barcode from different providers on the market – a virtual wallet for loyalty cards;
• visualization of commercial brochures/offers –interactive viewing of offers;
• automatic notifications;
• cost analysis;
• the ability to send invitations for registrations inthe App (referral program);
• technical possibility for mobile payments with ApplePay and digitization of cards issued by PhyreApp in Apple Wallet;
• the ability to purchase and activate Electronic Vignettes;
• the ability to apply for a loan through the App;
• the ability to pay utility bills and liabilities to state and municipal administration.
"Paynetics Account" means a payment account maintained by Paynetics in your name, which you can use for the execution of payment transactions and:
- which may be associated with your payment card;
- on which funds are loaded in accordance with Section II of theseGeneral Terms and Conditions and from which payment transactions are carried out in accordance with Section III of these General Terms and Conditions;
For clients – natural persons, registered in Phyre App until 17.03.2020 /inclusive/ Paynetics account is an e-money account on which electronic money is stored and reported;
For clients – natural persons, registered in the Phyre App after 17.03.2020, the Paynetics account is a payment account, different from an e-money account, which accounts for money;
"Payment transaction" means an action taken by a client of Paynetics or another payment service provider to deposit, transfer or withdraw funds from/to a payment account or through a payment card, including a POS operation, an internet operation or a P2P operation/payment viaQR code.
"POS Transaction" means a payment transaction initiated by you through your mobile device for the purchase of goods or services at a point of sale of a merchant.
"Internet operation" means a payment transaction initiated by you for the purchase of goods or services on theInternet through a merchant's website, using the data of your Paynetics card.
"P2P operation" means a payment transaction initiated by you to transfer funds from your Paynetics account to another user's Paynetics account. P2P transactions over BGN 25 | EUR 12.78 is only available after entering a Phyre PIN or finger print or facial recognition;
"Payment Order" is any order from a Client /payer/ to Paynetics, which orders the execution of a Payment Transaction. The Payment order can be given on paper or electronically.
"Credit Transfer" is a national or cross-border payment service for crediting a payment account of the recipient by means of one or more payment transactions executed on the payment account of the payer by the payment service provider that maintains the payment account of the payer, on the basis of an order given by the payer.
"Paynetics Card" means a payment debit or prepaid virtual card or a debit or prepaid physical card issued by Paynetics in your name, which is linked to your Paynetics account. Details about your Paynetics card can be found in the Phyre App.
A Paynetics debit card is a type of payment card, which a personalized payment instrument that is used by the authorized user of payment services and for remote access to your Paynetics account, different from the Paynetics e-money account, with which payment and reference transactions can be performed.
A prepaid Paynetics card is a type of personalized payment instrument on which electronic money is stored, or which provides remote access to your Paynetics e-money account, and with which payment transactions are performed.
For clients – natural persons, registered in the Phyre App until 17.03.2020 /inclusive/ the Paynetics card is a prepaid virtual or physical card through which remote access to a Paynetics e-money account is provided.
For clients – natural persons, registered in the Phyre App after 17.03.2020, the Paynetics card is a debit virtual or physical card that provides remote access to a Paynetics account, which is different than an e-money payment account.
"Virtual Card" means a debit or prepaid Paynetics card issued by Paynetics, with a BIN and the logo of a card organization, accessible through the App and through which payments can be made online. The mobile App provides an opportunity for all users who have loaded money into the Phyre App to receive a free debit or prepaid Virtual Card for payments on the Internet.
For clients – natural persons, registered in the Phyre App until 17.03.2020 (inclusive), the Virtual Card is a prepaid Paynetics card issued by Paynetics, with a BIN and the logo of a card organization, accessible through the App and through which payments can be made online. The mobile App provides an opportunity for all users who have loaded money into Phyre App to receive a free prepaid Virtual Card for payments on the Internet.
For clients – natural persons, registered in the Phyre App after 17.03.2020, the Virtual Card is a debit Paynetics card issued by Paynetics, with a BIN and the logo of a card organization, accessible through the App and through which payments can be made online. The mobile App provides an opportunity for all users who have loaded money into Phyre App to receive a free debit Virtual Card for payments on the Internet.
"Physical Phyre Card" means a debit or prepaid Paynetics card on a physical medium – plastic for contact and contactless payment and payment with CHIP and PIN and is a payment instrument issued by Paynetics, with BIN and logo of the card organization, Phyre’s logo and logo of the issuer, with an expiration date, personalized with security features, such as PAN, PIN and CVC and used for POS payments, either on the Internet or for cash withdrawals on an ATM or POS, enabling the cardholder to submit payment orders for payment transactions. The card is a payment instrument linked to the App and provides access to a Paynetics account. The user of the App has the opportunity to purchase this card which is linked to his Paynetics account.
For clients – natural persons, registered in the Phyre App until 17.03.2020 (inclusive) "Physical Phyre Card" means a prepaid Paynetics card on a physical medium - plastic for contact and contactless payment and payment with CHIP and PIN and is a payment instrument issued by Paynetics, with BIN and the logo of the card organization, the logo of Phyre and the logo of the issuer, with an expiration date, customized with security features such as PAN, PIN and CVC and used for POS payments, either in the Internet environment, or for cash withdrawals at ATM or POS, enabling the cardholder to submit payment orders for payment transactions. The card is a payment instrument linked to the App and provides access to a Paynetics account for e-money. The user of the App has the opportunity to purchase this card linked to his Paynetics account for e-money.
For clients – natural persons, registered in the Phyre App after 17.03.2020, "Phyre Physical Card" means a Paynetics debit card on a physical carrier - plastic for contact and contactless payment and payment with CHIP and PIN and is a payment instrument issued by Paynetics, with BIN and the logo of the card organization, Fire logo and issuer logo, with an expiration date, customized with security features such as PAN, PIN and CVC and used for POS payments, either in the Internet environment, or for cash withdrawals at ATM or POS, enabling the cardholder to submit payment orders for payment transactions. The card is a payment instrument linked to the App and provides access to a Paynetics account, different than an e-money account. The user of the App has the opportunity to purchase this card linked to his Paynetics account, different than an e-money account.
"Virtual Wallet for Loyalty Cards" means a non-payment service and functionality of the App, which provides an opportunity to use your loyalty cards by providing a number of your loyalty card, issued by merchants or retail chains operating on the territory of the Republic of Bulgaria, to your virtual wallet.
"Interactive Offer Viewing" means a non-payment service and functionality of the App that provides an opportunity to view offers from merchants or retail chains in an interactive way.
"Purchase and activation of Electronic Vignettes" means a non-payment service and functionality of the App, which provides an opportunity to purchase and activate Electronic Vignettes. The non-payment service is provided by Intelligent Traffic Systems AD, UIC 201988199 (ITS) through its representative Phyre EAD, through the system of A1 Bulgaria EAD, UIC 131468980 ("A1 Bulgaria"), by virtue of a contract concluded between ITS, A1 Bulgaria and Phyre for partnership in the sale of electronic vignettes.
ITS is entered in the National Electronic Register of National Service Providers for Electronic Toll Collection on the basis of a contract concluded with the Road Infrastructure Agency for the provision of additional services for the operation of activation points by a provider of electronic toll collection services.
Payment services under Credit Transfer, directly related to the non-payment service specified here and described in Section VIIIc, are performed by Paynetics.
"Electronic Vignette" means an electronic document within the meaning of Article 3, Paragraph 1 of the Electronic Document and Electronic Trust Services Act, certifying the paid Vignette Fee. The electronic vignette shall contain a unique identification number, data about the registration number of the vehicle, the country in which it is registered, its category, the date of payment of the fee and the period of validity.
"Vignette fee" means a fee that entitles a vehicle meeting the requirements under Article 10a, paragraph 7 of the Roads Act to use the paid road network for a certain period. Vignette fees are collected in accordance with the Tariff of Fees collected by the Road Infrastructure Agency and according to their period of validity.
"Applying for a loan through the App" means a non-payment service and functionality of the App, which provides an opportunity to request a loan for an amount specified by you within a credit limit for which you have previously received approval, as well as the opportunity to use the loan amount on your Paynetics account.
The non-payment service is provided by Phyre in relation to loans granted by financial and/or credit institutions with which Phyre has concluded agreements ("Financing Institution"). Currently, the consumer lending service is provided by BNP PARIBAS PERSONAL FINANCE S.A. – BULGARIA BRANCH, UIC 204915054, in its capacity as a branch of the bank BNP Paribas Personal Finance SA, Paris, France, RCS: 542 097 902 ("BNP"), specialized in consumer lending and operating in Bulgaria on the basis of Art. 20 of the Credit Institutions Act, pursuant to letter No. BNB-152559/05.10.2017. Phyre only makes the connection between you, as a user of the App, and the Financing Institution, as a provider of consumer lending services.
The Credit Transfer payment services, directly related to the non-payment service specified here and described in Section VIIIb, are performed by Paynetics in accordance with these General Terms and Conditions regarding "Payment and related services offered by Paynetics through the electronic wallet "Phyre".
"Payment of utility bills and liabilities to state and municipal administration" – means a non-payment service and functionality of the App which provides information about existing liabilities of individuals and legal entities towards companies – suppliers of utility services, as well as liabilities to state and municipal administration, providing an opportunity for their payment. List of utility service providers ("Supplier Companies") to which you can make a payment is available in the App.
The non-payment service described herein is provided by Phyre by virtue of a contract/s concluded with Phyre's partner companies ("Partner Companies"), where the latter are representatives of the Supplier Companies. A list of Supplier Companies is available in the App. The representative powers of the Partner Companies include the rights to collect and report paid fees for household and communal services and liabilities to the state and municipal administration through the information system created and maintained by the respective Partner Company for the provision and servicing of legal entities and individuals.
The Credit Transfer payment services, directly related to the non-payment service specified herein and described in Section VIIIc, are performed by Paynetics in accordance with these General Terms and Conditions regarding "Payment and related services offered by Paynetics through the electronic wallet "Phyre".
The services "Virtual Wallet for Loyalty Cards", "Interactive Viewing of Offers" are provided by Phyre AD.
"Fees" means the fees that you owe under these General Terms and Conditions in connection with the use of the services provided therein. All Fees are specified in the "Paynetics Fees and Limits" Appendix, which is an integral part of these General Terms and Conditions;
"MDES" means the digitization of a card in a User's mobile device for making and receiving payments. The MDES platform enables secure contactless payments.
"Mobile Device" means a portable mobile device that supports NFC and runs on Android 7.0 OS or newer, or iOS.
"Phyre PIN" means the unique personal identification number that you have assigned to you as part of the installation process;
"Pre-loaded credit" means any amount pre-loaded by us at our discretion and for promotional purposes on your Paynetics account;
"Privacy Policy" means the privacy policy which, together with these Terms and Conditions, describes the conditions under which any personal data we collect from you or that you provide to us will be processed, processed and shared by us;
"P2P operation" means a payment transaction initiated by you to transfer funds from your Paynetics account to another user's Paynetics account. P2P transactions over BGN 25 | €12.78 is only available after entering the Phyre PIN;
"QR code payments" means a payment transaction where a Phyre user generates a QR code that can be scanned by another Phyre user in order to transfer funds from accounts in the app. Each user can generate their own QR code to receive an amount from other users.
"Identification level 1" means an identification procedure that requires at least: for Bulgarian citizens: presentation of an identity card, passport and photograph of the person, together with the presented identity document in real time, and for citizens of a Member State of the European Union: presentation of a passport/identity card and bank statement or other identification document, as well as a photograph of the person, together with the presented real-time identity document. The identification is carried out with an automated https://shuftipro.com/ system, and if necessary, the data can be checked by a Paynetics employee.
"Identification Level 2" means a procedure within which, depending on the type and amount of a particular payment transaction and the risk assessment, Paynetics has the right to require, at its discretion, from the Phyre user additional documents and declarations, including a declaration of origin of funds, as a condition for the execution of the payment transaction.
"Redemption Request" means a request from you to receive back the Electronic Money purchased by you through your Paynetics e-money account, in accordance with Section XIII of these General Terms and Conditions;
"General Terms and Conditions" means these General Terms and Conditions and includes our fee tariff, which can be found in the appendix "Paynetics Fees and Limits", through your Phyre App or on the website of Phyre - www.phyreapp.com. The Privacy Policy applies to the relationship between us, but is not part of the General Terms and Conditions;
"Transaction" means any transaction that can be made from your Paynetics account/Paynetics card, including a payment operation and/or a redemption operation;
"Tokens" means the card number that mobile devices use instead of the card number printed on the plastic. MDES confirms the transaction decrypted by the token back to the card number and forwards it to the issuer for authorization.
"Limits" means the restrictions on use that apply to your Paynetics card and your Paynetics account, which are part of these General Terms and Conditions and which are specified in the "Paynetics Fees and Limits" Appendix, which can be found in your Phyre App, or on the Phyre website;
"Phyre App User", "User", "You" or "Your" means the natural person who has been identified to have downloaded and installed the Phyre App, and who has registered in the App with their full name, professional activity, email address and mobile phone number;
"ATM TERMINAL DEVICE (AutomatedTellerMachine)" is an ATM – a device for cash withdrawal, payment for services, execution of reference and other payment and non-payment operations.
"SPECIAL CASH TERMINAL" is an external device, other than an ATM TERMINAL DEVICE, allowing the deposit of cash into a payment account in Paynetics, maintained by a person with whom Paynetics has concluded a contract and designated in accordance with the characteristics and data specified in the App. Currently, Paynetics uses as a special cash terminal the Cashterminal terminals, maintained by Intercapital Group AD with a UIC 200867847 – a legal person, which is entered in the register kept by the BNB under Article 19 of the Payment Services and Payment Systems Act, as an agent of Paynetics.
"Card Organization" means Mastercard International ("Mastercard"), VISA Europe ("VISA") or any other association or organization supporting a card payment system applicable under these Terms, including any affiliate, subsidiary or successor thereof in which Paynetics holds membership and has the right to issue Cards and accept payments, including through Cards, accepted by these card organizations.
"Prohibited Transaction" means any of the following Types of Transactions:
1. any pyramid sales, Ponzi schemes or similar marketing or matrix programs or other "get rich" schemes or investment programs with High Yield;
2. the sale, supply or purchase of illegal objects or objects that promote or facilitate illegal activities;
3. the sale, supply or purchase of counterfeit products or products infringing intellectual property rights;
4. products or services for processing or aggregation of payments by third parties;
5. money laundering;
6. financing or propaganda of terrorism;
7. pornography, escort services and sale and/or advertising of sexual services;
We reserve the right to add other categories of prohibited transactions by adding such categories either to these Terms and Conditions or in a separate document published on the website: https://www.paynetics.digital.
"Written" also includes emails. When we use the words "written" or "written," this also includes statements made through emails.
"PSPSA" means the Payment Services and Payment Systems Act.
I. Download and activate your Phyre App. Phyre App services:
1. Creating an Account: To register in the Phyre App, you must be at least 18 years old and possess a mobile device eligible under these Terms and Conditions. Sign in to the Google Play Store and/or AppStore on your mobile device and follow the download instructions. During the installation and registration process, you will be asked to:
(a) provide your personal data and documents necessary for your identification;
(b) set a Phyre PIN;
(c) read and accept these Terms and Conditions, and
(d) enter an activation code sent to the phone number entered during registration.
If you have not completed any of the steps specified in (a) to (d) above, you cannot complete the Phyre App activation process.
2. By installing your mobile device and registering in the Phyre App, according to item 1 above, you agree to use, in accordance with these General Terms and Conditions, the services provided by your Phyre App, as described above, namely: “Payment and related services offered by Paynetics through the PhyreApp e-wallet” and “Non-payment services offered through PhyreApp”. By installing and registering in the Phyre App on your mobile device, you make a statement that you have accepted and agree to comply with these Terms and Conditions. The non-payment services provided by the Phyre App, offered through the Phyre App, cannot be used independently without the use of a Paynetics card or Paynetics account.
3. As part of the installation and registration process, you will be obliged:
To meet the identification requirements for opening a Paynetics account and issuing a Paynetics card. It is not permissible to use a proxy and/or a third party when registering and using the PhyreApp.
4. Specifics of using the services:
Regardless of the fact that you have installed the Phyre App, you will not be considered "Eligible" to have a Paynetics card and a Paynetics account, unless:
(a) you are permanently resident in a Member State of the European Union, and
(b) you are at least 18 years of age and have the legal capacity to enter into a legally binding contract, and
(с) you have passed all of our required identification procedures and eligibility and security checks, and
(d) you have provided us with a valid and functional email address and telephone number, and
(e) you do not have a previous Paynetics card that has been unilaterally closed by us, and
(f) you are not in breach of these Terms and Conditions, and
(g) there is no other registered Phyre App account of yours through which you have successfully passed the identification procedure.
We cannot accept your registration if you are not "eligible", i.e. you do not meet the conditions described above. If you are not "eligible", please immediately abandon all attempts to register with us.
We will review your request to use the Phyre App as soon as possible, and your Paynetics account and Paynetics card will be in the "processing" state until we finish our verification and activate your Paynetics account and Paynetics card. We also have the right to reject your request to use the Phyre App at our sole discretion.
During the period of consideration of your request for and use of the Phyre App or at any time in the future, in connection with your Paynetics account and Paynetics card, including for the purposes of fraud prevention and/or money laundering:
(a) we may ask you to provide written evidence to prove your identity, address, origin and/or sources of financing of the funds for top up of your Paynetics account and Paynetics card; and
(b) we may carry out checks/verification of your identity electronically directly or by using appropriate third parties, such as identity verification service providers.
When we carry out checks/verification of your identity, your personal information may be disclosed to third parties who are certified to perform such checks/verification in due course by the relevant competent authority. These checks are identity checks and therefore will not adversely affect your credit score. However, these third parties may make a record of the relevant information that may remain in their archive as evidence that an identity check has been carried out.
Our acceptance of your request to use the Phyre App will take place when we send you a notification in the App profile that you have successfully passed our identification and verification procedures, from which moment it will be considered that there is a contract between you and us, which contract will have a period of validity: three years from the date of entry into force of the contract (term of the contract) and the same will be automatically renewed for another three years, if you do not explicitly state your desire to terminate the contract one month before the expiry.
It is necessary to update your personal data immediately if your name, address, email address, identity document details, mobile phone number, payment card or bank account or professional activity information changes. Changes to this data are effective in relation to us only from the moment we have been notified of them in writing by you. We will not be liable for damages arising from your failure to do so.
5. Any Pre-Loaded Credit, if any, will be available upon successful completion of the registration process.
6. When downloading or accessing the Phyre App, data is processed that is subject to your current agreement with the company whose electronic communications services you use, as well as its policy related to this processing. The mobile internet traffic that you use when downloading and using the App is charged and paid in accordance with the prices of the tariff plan you use under your contract with the respective company providing electronic communications services. For more details, you need to contact your provider of electronic communications services.
7. Termination on the grounds of "eligibility": we reserve the right to immediately terminate our contract with you and close your Paynetics account and Paynetics card, if we have reason to believe that you do not meet the requirements under these Terms.
II. Top up your Paynetics account
Upon receipt of a notification from us that you have successfully passed our identification and verification procedures and the contract between you and us has entered into force, you can load your Paynetics account, as described in this Section II of these General Terms and Conditions, with funds to be used for payment transactions. The minimum amount for top up of your Paynetics account is indicated in the "Paynetics Fees and Limits" Appendix. The balance of your Paynetics account must never exceed the specified limits, according to the "Paynetics Fees and Limits" Appendix, which is an integral part of these General Terms and Conditions.
Detailed instructions on how to load your Paynetics account are listed in the Phyre App.
You can fund your Paynetics account via:
a) use of your credit card; or
b) use of your debit card/prepaid card; or
c) by credit transfer, according to the rules of Section VII; or,
d) by depositing cash funds through a Special Cash Terminal, the funds received in this way will be credited to your Paynetics account immediately after we receive the funds.
If as a result of a top up operation one or more of the limits specified in the "Paynetics Fees and Limits" Appendix are exceeded, as the case may be, the operation will not be approved before passing Identification Level 2 or the operation will be rejected.
We reserve the right to refuse to accept a specific top up operation or to disable a particular top up method without notice to you, in order to prevent fraud, money laundering or any other illegal activity.
We will charge you a Top up Fee each time you perform a transaction on the account for which such a fee is due, according to the “Paynetics Fees and Limits” Appendix. The amount of this fee may change over time in accordance with Section XVII of these General Terms and Conditions. The current fee rates can be found in the “Paynetics Fees and Limits” Appendix, which is available through your Phyre App, or on the Phyre website.
III. Use of your Paynetics account and Paynetics card
1. After you have loaded your Paynetics account and your Paynetics card is activated, subject to the availability of technical collateral and in accordance with these General Terms and Conditions in each case, you can use your Paynetics card within the limits of the funds available on it to perform payment transactions. You have the right to use your Paynetics account and your Paynetics card only personally and you have no right to provide their use to anyone else, as well as you have no right to sell or transfer to anyone the opportunity to use them. If you allow access to your Paynetics account and/or your Paynetics card to another person(s), you will be fully responsible for all transactions initiated by that person(s). Some merchants may not accept payments via Paynetics cards. It is your responsibility to check with each merchant what their policy is. We do not accept any responsibility if a merchant refuses to accept payment via Paynetics card.
2. You must make sure that there is enough balance in your Paynetics account to cover the amount of a transaction and any applicable fees. We may refuse to execute a transaction if you do not have enough balance to cover the transaction amount and any applicable fees.
3. No interest will be charged on your Paynetics account. The balance on your Paynetics account is not a deposit and you are not entitled to claim interest.
4. All Paynetics accounts are kept in Bulgarian leva, euros, British pounds, or Romanian lei depending on your choice and are marked with an international bank account number (IBAN). Paynetics accounts with IBAN can be used to execute payment transactions with a credit transfer. You can receive credit transfers, including credit transfers, ordered through a bank, to your Paynetics account, as well as order a credit transfer from your Paynetics account to another payment account, marked with an IBAN, maintained by a payment service provider licensed in the Republic of Bulgaria or in an EU Member State. It is required to pass Identification Level 2 to make credit transfers or transfers via card from your Paynetics account, with a value exceeding the BGN equivalent of EUR 1000 or their equivalent in another currency.
5. Paynetics executes credit transfers within the time limits established in the PSPSA, namely:
- Unless otherwise agreed between us and you, an order for a credit transfer from your Paynetics account to another Paynetics account shall be executed immediately upon receipt of the order by Paynetics, subject to the availability of sufficient funds on the payer's Paynetics account.
- Paynetics, as a payment service provider of the payer, ensures the crediting of the payment account of the payment service provider of the recipient, if it is different from Paynetics, with the amount of the payment transaction by the end of the next business day after the moment of receipt of the payment order. Orders received after 3 p.m. on the business day or received on a non-working day shall be deemed to have been received on the next business day.
- In case of credit transfers ordered in your favour, your Paynetics account is credited on the day the amount is received on the Paynetics account, as a payment service provider of the recipient. If the amount is received on a Paynetics account after 3 p.m. on a business day, or on a non-working day, it is considered to have been received on the next business day.
6. It is not possible to withdraw cash from your Paynetics account, and cash withdrawals from your Paynetics card are possible only via ATM or POS within the limits set in the “Paynetics Fees and Limits” Appendix. Cash deposits to your Paynetics account are possible only through the service of depositing cash on a payment account through a Special Cash Terminal, in compliance with the terms and limits specified in these General Terms and Conditions and the “Paynetics Fees and Limits” Appendix.
7. The amount you can spend with your Paynetics card may be restricted according to the “Paynetics Fees and Limits” Appendix, the rules of the respective Card organization or the policies for accepting payments of the respective merchant. Paynetics has the right to set limits when using your Paynetics card, referring to one transaction, 24 hours, for seven consecutive days, for thirty consecutive days and for the maximum number of operations for the respective period (withdrawal/payment/deposit limits), as well as for the balances and operations on your Paynetics account. For reasons related to the risk assessment, Paynetics may unilaterally change the limits set, for which we will immediately notify you through the "Paynetics Fees and Limits" Appendix or in another appropriate way.
8. We will deduct the value of your transactions from the balance on your Paynetics account. We will also deduct any applicable fees as soon as they are due.
9. In addition, you agree and commit not to violate the rules for access to the Phyre App, as well as not to make any attempts to interrupt or impair its functionality, including, but not limited to: not distribute files containing viruses, corrupted files or other similar software or programs that can be used to access, modify, delete, or corrupt data files.
10. It is forbidden to use your Paynetics account and your Paynetics card:
a) to receive cash payments in violation of the regulatory restrictions in this area and as specified in these General Terms and Conditions (or to assist others in such activity);
(b) contrary to applicable laws or regulations, including, but not limited to, those relating to money laundering, fraud, criminal activity, financial services or consumer protection;
c) in connection with a transaction that is a prohibited transaction under these General Terms and Conditions; or for commercial or business purposes.
11. With regard to your Paynetics account, which is available online, in case there is an explicit consent on your part, given in advance with a form and content determined by us, Paynetics accepts certain payment transactions on the account to be initiated through a payment initiation payment service provider.
12. With regard to your Paynetics account, which is available online, in case there is an explicit consent on your part, given in advance with a form and content determined by us, Paynetics agrees to provide account information through a provider of account information services.
IV. Approval of payment transactions
1. You must approve each transaction at the moment it is initiated by you.
2. The redemption request will be deemed to have been made by you when you contact us to request redemption as described in Section XIII of these Terms and Conditions.
3. The execution of a POS transaction will be considered ordered by you through the Phyre App, where, following the instructions of the merchant, you authorize the Payment Transaction through the Phyre App, by entering a Phyre PIN or with a fingerprint or facial recognition, and holding your mobile device against a contactless terminal for the purpose of making a payment.
4. Credit transfers/P2P operations/payments via QR code/ operations for depositing cash into a payment account through a Special Cash Terminal will be considered ordered by you when you log in to your account in the Phyre App – something that only you own:
(a) For credit transfers – fill in a payment order for a credit transfer in the App by selecting the "Send Money" button, then select the "Credit Transfer" button and fill in the data for the IBAN number of your Paynetics account, name of the recipient, the recipient's international bank account number (IBAN), the amount of the payment transaction, the currency of the payment transaction, the execution date, the reason (information about the payee), additional clarifications and confirm the payment order by entering a Phyre PIN (something that only you know) or putting a fingerprint on the sensor of your phone (something that is your unique characteristic), or performing facial recognition through your phone (something that is your unique characteristic). For your convenience, regarding certain services offered through the App, the App may generate an automatically completed credit transfer order, which you should check and confirm in the manner specified above. In order to successfully make a credit transfer, you must have successfully passed the relevant required identification level and have an active account with an IBAN in Paynetics;
(b) for P2P transactions over BGN 25 | EUR 12.78 /payments via QR code – select the details of the Paynetics account to which you want to transfer funds (by the mobile number of the respective account holder or by scanning a QR code generated by the user to whose account the transfer will be made) and confirm the payment order by entering a Phyre PIN (something that only you know) or put a fingerprint on your phone's sensor (something that is your unique characteristic) or perform facial recognition through your phone (something that is your unique characteristic). In order to successfully complete a P2P transaction, you and the recipient of the payment must have successfully passed the relevant required identification level and have active Paynetics accounts. In case the recipient of the transfer in a P2P transaction does not have an active Paynetics account, the payment order given by you will not be executed until the recipient of the transfer receives an active Paynetics account, and the amount of the transfer, together with the fees due, if any, will be blocked on your Paynetics account. In the cases under the previous sentence, the recipient of the transfer, if possible, will be invited to perform the necessary actions to activate his Paynetics account in order to receive the amount of the transfer, as at your request or if within 3 days from the receipt of your payment order the recipient of the transfer in a P2P transaction does not have an active Paynetics account, Your payment order will be rejected and the amount of the transfer, together with the fees due, will be unblocked from your Paynetics account.
(с) when depositing cash on a payment account through a Special Cash Terminal – select the service " Loading money through Cash Terminal " in the App, whereby the system will generate a one-time code, which will be displayed on the screen of the App. This code should be entered by you in the Special Cash Terminal, designated as CashTerminal, and by entering it, you agree and give an order for the amount paid by you, minus the relevant fees, according to the "Paynetics Fees and Limits" Appendix, to be credited to your account with Paynetics.
5. In case of operations performed on an ATM or POS terminal device, you give an order to perform payment transactions by inserting/presenting the Card at the ATM or POS terminal device and entering a PIN from the ATM or POS keypad.
6. In case of Internet transactions: You give an order for the execution of payment transactions by entering/filling in the Card number, your name, the validity period of the Card and the CVC2/CVV2 code of the Card and a one-time code (3D secure), if such is requested in the relevant fields on the Merchant's website, and instead of a one-time code (3D secure) the function for facial recognition or fingerprint identification can be activated – depending on the functionalities, supported by your phone, or confirmation by entering a Phyre PIN, according to Section VIII. For certain services that you have subscribed to and agreed to be automatically deducted from your Paynetics card for a certain period of time, you do not have the right to reclamation, and you must contact the merchant to cancel the periodic transactions.
7. You can withdraw or cancel your consent to a transaction at any time until it is received by us. Consent to make a transaction cannot be withdrawn (or revoked) by you once we have received it. When it is agreed between us and you that the payment will be executed on a certain day, you can cancel the payment order by the end of the business day preceding the agreed payment day at the latest.
8. Your consent to a transaction will be deemed to have been received by us as follows:
(a) for ATMs, POS transactions and Internet operations – at the time we receive the payment instruction from the merchant;
(b) for credit transfers/P2P transactions/payments via QR code – at the moment we receive the payment instruction/payment order from you through the Phyre App;
(с) for redemption requests – at the time we receive the request from you in accordance with Section XIII, item 2 of these General Terms and Conditions; and
(d) for operations for depositing cash on a payment account through a Special Cash Terminal – at the moment when we receive information about your order to deposit the respective amount through the respective Special Cash Terminal.
V. Blocking your Paynetics account or Paynetics Card and rejecting Transactions from your Paynetics account
1. We may at any time suspend, restrict or disable the Phyre App or Paynetics Card, or suspend or restrict access to your Paynetics Account, or refuse to issue or replace the Phyre App or Card for reasons related to the following:
(a) we are concerned about the security of the Phyre App or the Paynetics card we have issued to you;
(b) we know or suspect that your Phyre App, your Paynetics card or your Paynetics account is being used in an unauthorized, illegal or fraudulent manner;
(с) we must do so in order to comply with the law of any applicable jurisdiction or with the instructions given by the Card Organization;
(d) we have been notified that your mobile device has been lost or stolen as detailed in Section XI; or
(e) if the contract between us has been terminated as detailed in Section IX.
2. If this would not compromise the necessary reasonable security measures and/or would not be illegal in any other way, where practicable, we will inform you of the actions under item 1 by phone or e-mail, indicating the reasons for the suspension, restriction or cancellation of your Phyre App, Paynetics account or Paynetics card, respectively for the suspension or restriction of access to your account or for our refusal to issue or replace functionality in the Phyre App or Paynetics card. If it is not possible to inform you in advance, we will inform you immediately afterwards, stating the reasons for this.
3. We will unblock your Phyre App, your Paynetics card and/or your Paynetics account as soon as possible, after the reasons for the blocking cease to exist and we will inform you by phone or e-mail when we have unblocked the Phyre App, your Paynetics card and/or your Paynetics account.
4. We may refuse to perform a payment transaction if:
a) the balance available on your Paynetics account at the time of the operation is insufficient to cover the amount of the transaction and all applicable fees;
b) we, in our sole discretion, believe that you are acting in violation of these Terms and Conditions or applicable laws, rules and regulations;
c) we believe that a particular transaction is potentially suspicious or illegal or violates these Terms and Conditions or applicable laws, rules and regulations;
(d) due to errors, malfunctions (mechanical or otherwise) or failures by merchants, payment operators, card networks or payment schemes processing transactions;
e) we cannot verify your identity;
f) you fail to comply with reasonable requests from us for information; or
g) if we have reason to believe that the security of your Paynetics account or Paynetics card has been compromised in any way or that you and/or any other third party are trying to initiate or have already started illegal/prohibited/unauthorized transactions through/to your Paynetics account and/or through a Paynetics card.
5. If we refuse to carry out a transaction, except if informing you would compromise reasonable security measures or would otherwise be illegal, we will inform you as soon as possible and in any event by the end of the business day following the day on which we received the Transaction Request. For POS transactions, we will usually inform you with an error message in the merchant's contactless terminal and a receipt indicating that the payment has not been made, although in some cases we can inform you by phone or e-mail. For credit transfers/P2P transactions/QR code payments, an error message will appear on the App screen, indicating that the payment has not been made. You can contact us to ask about the reasons for our refusal to make this transaction and for instructions on how you can correct the information that led to our refusal to approve a transaction. In case of operations for depositing cash on a payment account through a Special Cash Terminal – an error message will appear on the screen of the Special Cash Terminal, indicating that the payment has not been made.
6. If we block your profile in the Phyre App, all functionalities will be blocked.
7. You can correct any information we hold that may cause us to decline a transaction by contacting us.
VI. Use of the services Virtual Wallet for loyalty cards and Interactive viewing of offers.
1. In order to access and use the Virtual Wallet service for loyalty cards, you agree to provide your loyalty card number issued by merchants or retail chains in your virtual wallet. Subsequently, the loyalty cards you add can be used directly through the mobile App when purchasing at a cash desk from the respective merchant. When adding a loyalty card number, you must provide complete and truthful information. You cannot use a loyalty card that is not yours to use the service.
2. Interactive viewing of offers – the mobile App provides you with the opportunity to view offers from merchants or retail chains or service providers. The offers are updated according to the schedule of the respective merchant.
VII. Use of the services "Top up services via credit transfer" and "Sending money to your own payment account"
Users can fund their account in the App by sending a credit transfer, including a bank transfer, from their payment account, including a bank account marked with an IBAN, to their Paynetics account marked with an IBAN.
Please note that the bank/payment service provider leading the payment account from which the transfer is made most likely has additional fees that it collects for this type of service.
VIII a. Use of the service "Purchase and activation of Electronic Vignettes"
1. The non-payment service under this section and the additional functionality of the App, accessible through the menu "More" - > "Buy a vignette", allow you to purchase Electronic Vignettes for a vehicle.
2. Through the App you can purchase an Electronic Vignette for a Category 3 (Passenger car) vehicle, representing road vehicles intended for the carriage of passengers, with no more than 8 (eight) seats, road vehicles intended for the carriage of goods, and/or road vehicles intended for the carriage of passengers and cargo, incl. with a trailer, with a technically permissible maximum weight of not more than 3.5 tons, as well as the road vehicles of this group with off-road capability, as well as for Category 3 (Trailer and Caravans).
3. For the purchase and activation of an Electronic Vignette, the following information must be provided:
- registration number of the vehicle;
- the country in which the vehicle is registered;
- the category of the vehicle;
- the validity period, respectively the start date of activation.
After entering the specified data, the App will ask you to check the entered data again, as well as to confirm that they are complete and accurate, as well as to declare that you are aware that Phyre is not responsible for wrongly declared registration data, start date of activation or wrong choice of the validity period of Electronic Vignettes and the amounts paid are not refundable.
4. Only after confirming the information under the previous point, the App will allow you to proceed to payment of the Electronic Vignette. For your convenience, the App will generate an automatic payment order for making a Credit Transfer from your Paynetics account to a special Phyre account for an amount equal to the value of the Electronic Vignette that you have chosen to purchase, which payment order you should check and confirm, in accordance with the procedure specified in Section IV, item 3 of these General Terms and Conditions.
5. The App stores information about the Electronic Vignettes activated by you, including the period of their activity and the date on which they expired.
VIII b. Use of the service "Applying for a loan through the App"
1. The non-payment service under this section and the additional functionality of the App allow you to apply for a loan and, after being approved for the loan, to use the amounts granted under the loan to your Paynetics account in the App.
Credit limit
2. The credit limit for each User is calculated individually, and you can request an amount that you want to be granted within this limit. After calculating your credit limit, the App will provide information about the final date by which you can make requests to draw down amounts under it. After the specified date expires, you will not be able to draw down more amounts from the limit and it will be necessary to make a request for its recalculation.
Utilization of amounts under the credit limit
3. After unlocking your credit limit and within the period specified in the App, you can request the granting of a loan for an amount that does not exceed the amount of the limit for which you have received approval, as well as if there are no longer pending or refused requests. After checking your creditworthiness by the Financing Institution and in case of approval, you will receive instructions for the signing a loan agreement.
After successfully signing a loan agreement, the Financing Institution transfers the amount to your Paynetics account through the App. The amounts granted under this section can only be utilized in your Paynetics account and there is no other way to utilize them. For each new disbursement of amounts under the limit, you need to make a new request for their disbursement.
Payment of instalments
4. When choosing the option to pay an instalment, the App will generate an automatic payment order for making a Credit Transfer from your Paynetics account to a payment account of the Financing Institution opened with Paynetics, in the amount of the due instalment, which payment order you should check and confirm, in accordance with the procedure specified in Section IV, item 3 of these General Terms and Conditions.
5. The service "Applying for a loan through the App" is aimed at technical facilitation of the communication between you and the Financing Institution in connection with the application for a loan, your approval and the utilization and repayment of amounts under loans granted to you. Paynetics and Phyre are not a party to your loan agreement with the Financing Institution and are not responsible to you in relation to the loan.
VIIIc. Payment of utility bills and liabilities to state and municipal administration
1. The non-payment service under this section and the additional functionality of the App allow you to receive information about your existing liabilities to Utility Service Providers or to the state and municipal administration, as well as to make payment of these liabilities directly from your Paynetics account. Information about the Supplier Companies to which you can make a payment can be found in the App.
2. When choosing to make a payment, an automatic payment order will be generated for the execution of a Credit Transfer from your Paynetics account to an account of the respective Partner Company, opened with Paynetics, for the value of the obligation you have chosen to pay, which payment order you should check and confirm, in accordance with the procedure specified in Section IV, item 3 of these General Terms and Conditions.
3. The service "Payment of utility bills and liabilities to state and municipal administration" is aimed at technical facilitation of communication between you and your Utility Service Providers or with the state and municipal administration, in connection with the payment of bills or liabilities due by you. Paynetics and Phyre are not a party to your contracts with Utility Service Providers and are not liable to you in connection with these contracts. Information about your existing obligations is provided by the Utility Service Providers or by the state and municipal administration, and Paynetics and Phyre are not responsible for the correctness and correctness of the same information.
IX. Termination of the contract and cancellation of your Phyre App
1. The contract between us, which is set out in these General Terms and Conditions, will continue to be in force until terminated in accordance with this section.
2. You have the right to terminate the contract between us, which is described in these General Terms and Conditions, at any time with written notice to us. For services provided remotely, you have the legal right to withdraw from the contract at any time during its validity. You have no right to change your mind regarding transactions already made by you using your Paynetics Account or Paynetics Card.
3. We have the right to terminate the contract with you immediately by sending written notice to you if you violate any part of these General Terms and Conditions, including under one of the following Terms:
- in case of violation of the provisions of these General Terms and Conditions;
- in case of non-payment or delayed payment of amounts due to us;
- in case of death or legal incapacity of the User;
- in case of failure to provide information (requested by us within a reasonable time) that is necessary to provide the services under these General Terms and Conditions;
- when you use the services of the App in a way that violates the rights of third parties or take any actions that could endanger security or damage our good name and reputation;
- if you breach or attempt to breach the security of the App (including, but not limited to: altering or attempting to alter any information, undertaking unauthorized logins, unauthorized access or deletion of data, as well as interfering with the service, system, host or network, any kind of spam, hacking, falsification of data or other destructive or harmful acts or endangering security in any way);
- if there is evidence that you are using our services with fraudulent, illegal or unethical activity or allow a third party to do so;
- in case of non-use of the App for more than 6 months and in case the balance on your payment account is BGN | EUR 0;
- in case you already have a profile in the Phyre App, through which you have successfully passed the verification procedure.
4. Except in the cases under item 3, we have the right to terminate the contract with you for any reason by sending you at least 1 month written notice.
5. We may also terminate the contract with you immediately and/or terminate immediately your Phyre App and the use of the Paynetics Card services and/or your Paynetics account, as well as the other services offered by the App, if we determine that your Phyre App is being used intentionally by you or by someone else to commit fraud or for other illegal purposes; If we do this, we will notify you by phone or e-mail as soon as we are able to do so, in which case you must stop using your Phyre App, and especially the Paynetics Card services and your Paynetics Account.
6. If we terminate or you terminate the contract between us as soon as possible (and usually within 10 business days after you notify us that you are terminating this contract), we will refund all remaining funds on the balance in your Paynetics Account (after deducting all current transactions and applicable fees). Please note that in order to comply with applicable legal and regulatory requirements, including anti-money laundering and countering the financing of terrorism, it may be necessary to:
(a) verify your identity; and
(b) receive the remaining balance in your personal bank account in your name, and you must tell us which account you prefer.
7. Once the contract between us is terminated, you will not be entitled to a refund of amounts you have already spent on authorized or unaccounted transactions, or any fees for the use of your account and card incurred prior to termination.
X. Security protection of your Phyre App, your Paynetics account and your Paynetics card
1. You must treat your Phyre App, Paynetics account and Paynetics card, user identifiers, passwords, codes and Phyre PIN with the same level of care and diligence as if they were cash, and you undertake not to disclose them or allow them to be used by anyone else.
2. If your mobile device is lost or stolen, or if you suspect that someone else has access to your Phyre App or Paynetics account or Paynetics card or knows your user IDs, passwords, codes or Phyre PIN, follow the instructions set out in Section XI below. Please note that you may lose some or all of your account balance in the same way as if you lost money in your wallet if you do not follow our security and privacy instructions.
3. You are responsible for setting up the Phyre PIN. The Phyre PIN must meet the following requirements:
- must consist of four digits
- at least three digits must be different
- digits should not be displayed in numerical order (for example, 1234 will not be accepted as a Phyre PIN).
4. You need to remember the Phyre PIN and keep it secret at all times. You should never disclose to anyone your Phyre PIN or other information related to the personal security features of the payment instruments under these General Terms and Conditions. If you suspect that someone else knows your Phyre PIN, you should inform us immediately and change it as soon as possible.
5. In the event that your Phyre App is entered 3 (three) consecutive times with the wrong Phyre PIN when trying to authorize a transaction, in order to make sure that you are actually trying to log in to the App's account, we will block your account and require you to send a photo (selfie) with an ID card or passport that clearly shows your face and identity document or we will ask for a video call. The photo is sent to the following email address: support@phyreapp.com or in the chat service available in the Phyre App. Within 3 business days, we will unblock your account and provide you with access to the App.
6. We have the right to deactivate any of your identification codes, passwords or PINs, whether selected by you or provided to you by us, at any time if, in our reasonable opinion, you have failed to comply with any of the provisions of these General Terms and Conditions.
7. We recommend that you periodically check your account balance history and your transactions via the Phyre App. We will provide you with a statement of recent transactions via the Phyre App, and you may want to keep a screenshot of this statement for your backup. Your statement will show:
(a) information related to the identification of each transaction;
(b) the amount of each transaction, including the fees collected, indicated in the currency in which it was paid or debited from your Paynetics account;
(c) where applicable, the amount of each post-currency exchange transaction (if any); and
(d) for each transaction, the date on which your order is received by us, as described in Section IV of these General Terms and Conditions.
8. When you change your mobile device, you need to log out of your account and delete the Phyre App from your old mobile device.
9. Without prejudice to the other rules specified in this section, we expressly inform you that you are not allowed to provide anyone under any circumstances with a one-time code displayed on the screen of the App when you have selected the "Cash Terminal Money Loading" service through the App. The provision of this code by you to any third party is prohibited and constitutes a violation of these General Terms and Conditions with all subsequent adverse legal consequences for you.
XI. Reporting of security breaches and/or unauthorised or incorrectly executed transactions
1. If you know or suspect that:
(a) your mobile device with your Phyre App has been lost or stolen, or
(b) someone else has access to your Phyre App, Paynetics account and/or Paynetics card and/or the services provided by your Phyre App, or
(с) Your user identifiers, passwords, codes or Phyre PINs or any other security information is known or has become available to a third party, you must notify us immediately in writing by email support@phyreapp.com or via the chat service available on the Phyre App, available between 10:00 and 22:00 (Eastern European Time Zone) from Monday to Friday.
2. If you believe that a transaction not authorised by you has been processed or that the transaction has been carried out incorrectly, you must contact us immediately on our services hotline, which is available between 10:00 and 18:00 (Eastern European Time Zone) from Monday to Friday, or notify us immediately in writing by email support@phyreapp.com or via the chat service available on the Phyre App. We may ask you to send us a form to dispute a transaction.
3. We will conduct an investigation into your claim that a transaction has not been authorised by you, and where permitted by law, we may collect a fee for this investigation.
XII. Refunds from unauthorized or incorrectly executed transactions
1. Provided that you have notified us in accordance with Section XI, item 2 above for each unauthorized/incorrectly executed transaction, without delay and no later than 13 months from the date of its execution, you are entitled to a refund of the funds for this transaction under the conditions specified in this section.
2. If you have initiated a transaction and the recipient has not received the ordered funds, we will make an immediate effort to track the transaction and notify you of the result. Unless we can prove that the payment transaction was received by the recipient's payment service provider, we will refund the corresponding amount for the incorrectly executed transaction and restore your account balance to the amount it would have been if that particular transaction had not been made.
3. If we execute a payment transaction in accordance with the information you have provided to us, including, in accordance with the IBAN specified by you, we will not be liable to you for non-performance or inaccurate performance if it turns out that the information provided by you to us is incorrect, inaccurate or incomplete. However, we will make reasonable efforts to recover the funds associated with this transaction and charge you for the costs we incur.
4. If we are responsible for an incorrectly executed and/or unauthorized transaction that you have notified us of in accordance with Section XI, item 2 above, we will refund the corresponding amount by restoring the balance of your Paynetics account to the level that would have been if this particular transaction had not been made.
5. If an unauthorized transaction is made as a result of fraud or when, with intent or gross negligence, you have not used the Phyre App, the Paynetics Card or your Paynetics Account in accordance with these General Terms and Conditions (including you have not complied with the obligations to protect the Phyre App, the Paynetics Account and the Paynetics Card, user identifiers, passwords, codes and Phyre PIN or any other security information), we will not refund the amount and you will be responsible for the entire amount of the unauthorized transaction and will bear any losses.
6. In case you have grounds for a refund for incorrectly executed or unauthorized transactions, we will refund them as soon as possible upon receipt of your claim or any additional information we may request in order to investigate your right to a refund. However, if, after investigation, we have reasonable grounds to believe that the refund is not actually due to you for any reason or that we have made an unreasonable refund, we will be entitled to request a refund of the previous refund and you will be liable for any loss that is caused to us or you from using the Phyre App, to a Paynetics card or to your Paynetics account.
7. When Paynetics acts as a payment service provider of the recipient and has not executed or has inaccurately executed a payment transaction, Paynetics shall immediately credit the account of the recipient specified in the payment order with the amount of the unexecuted or incorrectly executed payment transaction or, in case of duplicate execution of an authorized payment transaction, shall restore the account of the recipient in the state in which it would have been without the execution of the incorrectly executed payment transaction.
8. When Paynetics acts as the payment service provider of the recipient and has executed an inaccurate payment transaction by crediting a payment account with a unique identifier other than the one specified in the payment order, or has credited the recipient's account with an amount other than the one specified in the payment order, or the execution of an authorized payment transaction has been duplicated, Paynetics has the right to make an official corrective transfer within 5 business days from the date of crediting, respectively, the refund under the previous item 7. Paynetics may oblige the account of the recipient, when there are funds on this account, up to the amount subject to correction, but not later than the term under the previous sentence. If there are no funds on the recipient's account sufficient to refund the amount subject to correction as of the last day of the term under the first sentence, Paynetics shall make an official corrective transfer in an amount equal to the balance on the account at that time.
XIII. Redemption of e-money held in your e-money account
1. You have the right to request redemption of the electronic money held in your Paynetics e-money account, and you are not entitled to redemption for the amount of the Pre-loaded Credit, if any.
2. You have the right to redemption of the funds on your Paynetics account (other than those under the Pre-loaded Credit) at any time, in whole or in part, subject to the restrictions in Sections IV, item 2 and XIII, item 1 above.
3. In order to process your Redemption Request, we may ask you to provide us with documents, evidence and other information to verify your identity in order to comply with applicable legal and regulatory requirements.
4. We may also charge a redemption fee if one of the following circumstances occurs:
(a) request redemption before the expiry of the contract with us;
(b) if you have terminated the contract in accordance with these General Terms and Conditions before the agreed period of validity; or after one year after the termination of the contract with us.
5. The amount of the redemption fee is determined in the "Paynetics Fees and Limits" Appendix and may change over time.
6. We will refund the funds from your Paynetics e-money account, and at our discretion, we have the right to transfer them to a personal bank account in your name, which you used when funding your account with us. Redemption in cash or by cash withdrawal of the monetary value of electronic money is not allowed.
XIV. Our Responsibility
1. We will not be liable to you for damages and losses arising from:
(a) any unauthorized transaction where you have acted fraudulently or where, with intent or gross negligence, you have not used the Phyre App and/or your Paynetics Account or Paynetics Card in accordance with these General Terms and Conditions (including your obligations to safely use the Phyre App, Paynetics Card and your Paynetics Account, user identifiers, passwords, codes and Phyre PIN or other information, security);
(b) any transaction we have made in accordance with the information you have provided to us, where it turns out that the information you have provided to us is incorrect, inaccurate or incorrect (although we will make reasonable efforts to recover the funds in respect of that transaction);
(с) any unusual or unforeseeable circumstance beyond our control where we could not have avoided the occurrence of its consequences despite reasonable efforts to do so;
d) the refusal of a merchant to accept your Paynetics card (through the Phyre App or otherwise);
(e) a malfunction of your mobile device or other equipment, software or services that are necessary for the successful technical performance of an operation and over which we have no control; or
(f) compliance with applicable legal or regulatory requirements or instructions given by the Card Organization.
2. We will also not be responsible for:
(a) interruption of activity which is directly or indirectly due to the activity or system of a third party; or
(b) loss of revenue, reputation, loss of profits or anticipated savings; or
(с) any loss or damage that does not directly result from our breach of these General Terms and Conditions;
(d) the quality and quantity of goods or services purchased from you through the Phyre App;
(e) services provided by third parties other than Paynetics or Phyre, through or with the technical support of the Phyre App.
3. We will make reasonable efforts to provide you with the Phyre App, Paynetics Account and Paynetics Card, but we will not be liable for any loss or damage that occurs if they or the Phyre App are not available at any time for reasons beyond our control, or if access is interrupted for reasons beyond our control.
4. Except for the losses set out in the paragraphs above (for which we are not liable) and subject to the requirements of the Protection of Persons with Disabilities Act and the paragraphs below, the maximum total amount of our liability to you for damages under or in connection with these General Terms and Conditions will in all circumstances be limited to the amount of BGN 400 | EUR 204.52 for each 12-month period of the contract with us.
5. As an electronic money institution, Paynetics implements reliable measures to ensure the continuity of activity, effective contingency plans and a procedure for regular testing and review of the effectiveness and adequacy of these plans, as well as security rules that protect users of payment services against identified risks, fraud or misappropriation of sensitive and personal data. Nevertheless, we do not warrant or promise, given the possible actions and impacts of third parties over which Paynetics has no control, that the Phyre App will meet your requirements or that the operation of the Phyre App, Paynetics Account and Paynetics Card will be uninterrupted or error-free or that the Phyre App will not have any viruses, Trojan horses or other similar software or similar programs that may be used to access, modify, delete or corrupt data files or other computer programs used by you, or that defects in the Phyre App will be corrected (although we will endeavour to assist you if you contact us).
6. You are responsible for configuring your information system, computer programs and platform in order to access the Phyre App. We do not provide antivirus software, you may use your own antivirus software at your discretion.
7. We will not be liable for any loss or damage caused by a virus, distribution of a denial-of-service attack, or other technologically harmful material that may infect your computer or other device or equipment, computer programs, data, or other proprietary material for your use of the Phyre App over which we have no control.
8. You will use the Phyre App, the Paynetics account and your Paynetics card at your own risk.
XV. Promotional and bonus programs
We reserve the right to organize promotional and bonus programs for our Users, to determine the parameters for conducting the promotion, as well as to change and terminate them at our discretion, and we do not bear any responsibility towards the users of the App.
XVa. Electronic commercial communications
By accepting these General Terms and Conditions, you expressly agree to receive electronic commercial messages in the App, as well as electronic commercial messages to the email address provided by you, for products and/or services of partners of Paynetics and/or Phyre whose advertising brochures are published in the "Offers" section of the App.
In case you do not wish to receive such electronic commercial messages, you can use the unsubscribe option, thus withdrawing your consent.
XVI. Intellectual Property and Information Protection
1. All intellectual property rights on the Phyre App Electronic Wallet and its contents around the world belong to Paynetics, and all property and non-property rights to the App belong to Phyre. The User does not acquire any rights in relation to the Phyre App except for the right to use it personally in accordance with the terms of these General Terms and Conditions.
2. All aspects of the Phyre App, including the specific design and structure of individual programs, are part of our trade secrets and are subject to copyright. Therefore, you agree not to distribute, provide, copy or otherwise make available to third parties such trade secrets or copyrighted material without our prior written approval.
3. All aspects of the Paynetics card, the Phyre Electronic Wallet and the Phyre App, including the specific design, the way of functioning, the technical functionalities and the structure of the individual programs, are part of the trade secrets of Paynetics and respectively of Phyre and are subject to copyright. Therefore, you agree not to distribute, provide, copy or otherwise make available such trade secrets or copyrighted materials or rights in any form to third parties without the prior written approval of Paynetics and/or Phyre.
XVII. Changes to these General Terms and Conditions
1. We (Paynetics and Phyre) reserve the right to change the General Terms and Conditions at any time. We will take into account your interests affected by the envisaged changes and make changes that we consider reasonable. Changes in exchange rates will take effect immediately when they are in your favour or as a result of a change in Mastercard's reference rate for the relevant period. In case of changes to these General Terms and Conditions that are in your favour and improve the protection of your rights as a user and/or are related to changes in the limits established by us, and/or are related to the addition of new services in Phyre App, these changes will come into force immediately, and the choice whether to use the new services is entirely at your discretion.
2. Except in the cases under item 1 above, for all other changes, we will provide you with at least two months' advance written notice by e-mail or directly in your Phyre App for any intended change to the General Terms and Conditions, and we will provide you with the new version of the General Terms and Conditions. When we notify you directly in your Phyre App, we will send an active push notification to your device, which you need to log in to your Phyre App to open, which will contain information about the upcoming changes, as well as where you can get acquainted with them. If you do not agree with the proposed change, you must tell us via one of the contact methods before this change comes into force, otherwise you will be considered to have accepted the change in the General Terms and Conditions. If you have notified us that you do not accept the changes to the General Terms and Conditions, you have the right to terminate your contract with us at any time before the date on which the changes are proposed to take effect, without being responsible for costs and compensations.
XVIII. Fees and limits. Exchange rates
1. Detailed information about the fees and limits related to your Phyre App, your Paynetics Card and your Paynetics account is found in these General Terms and Conditions and the Tariff thereto, contained in the “Paynetics Fees and Limits” Appendix, which can be found through your Phyre App or on the Phyre website. All restrictions on the use of your Phyre App, your Paynetics card and your Paynetics account are described in the “Paynetics Fees and Limits” Appendix, which can be found in your Phyre App or on the website of Phyre.
By accepting the General Terms and Conditions and activating your Phyre App, you agree to pay all applicable fees related to the use of the Phyre App, your Paynetics Card and your Paynetics account, as specified in these General Terms and Conditions, respectively in the “Paynetics Fees and Limits” Appendix.
2. When you complete the registration of your Paynetics account, you will have the opportunity to choose a default currency. The selected currency will be your default currency for your Paynetics Card and your Paynetics account and all applicable fees will be converted to it.
3. When you make transactions in a currency other than the default currency for your Paynetics account and your Paynetics card, the transaction amount will be converted to your default currency. The exchange rate will be determined on the day on which the final settlement of the transaction is made. For payments by payment card – the exchange rates we use for such transactions are those applied by MasterCard. For credit transfers – the exchange rates we use are the fixing of the BNB as of the relevant date. A fee for transactions in foreign currency will also be applied, as described in the “Paynetics Fees and Limits” Appendix.
XIX. Your personal data and contact details
By accepting these General Terms and Conditions, you confirm that the information you provide to us and will provide to us is true, accurate and up-to-date. By accepting these General Terms and Conditions, you confirm that you will notify us immediately by contacting us at support@phyreapp.com if you change your personal data. You can also update your email address and email details by following the instructions in the Phyre App. If we contact you in connection with your Phyre App, your Paynetics card or your Paynetics account, we will use our most recent known contact details that you have provided to us.
XX. Data protection and how we use your personal information
1. The personal data you provide to us (including, without limitation, email address or other user ID and password) will be processed by Phyre and Paynetics in accordance with and for the purposes set out in these General Terms and Conditions and our Privacy Policy. Please read our Privacy Policy carefully, as it provides information about how we use, share, store and process your personal information.
2. If we suspect that we have been given false or inaccurate information, we may record our suspicions along with any other relevant information.
3. You must not provide us with personal information about anyone else (such as alternative contact names) without first obtaining their consent for this information to be used and disclosed for such use in accordance with these General Terms and Conditions and our Privacy Policy. When you provide such information from a third party, we will assume that he or she has given consent, although we may still ask for confirmation.
XXI. Assignment of rights
Phyre and/or Paynetics may, subject to all applicable regulations, transfer its rights and obligations under these General Terms and Conditions to another company or person (including each other, if legal) at any time, and your rights under these General Terms and Conditions will not be affected. You may not transfer your rights and obligations under these General Terms and Conditions to any other person or company without our written consent.
XXII. Appeals
1. If you have a complaint about a payment service provided through Phyre App, please contact Paynetics using the service email support@phyreapp.com so that we can investigate the circumstances and provide you with an answer. We will strive to quickly and fairly process all complaints, signals and requests we receive in connection with the payment service provided through Phyre App. Paynetics will rule on each of your complaints in writing on paper carrier and/or by a written response sent to your e-mail address specified in front of us /your e-mail registered with us/, and Paynetics will notify you of its decision within 15 working days from the receipt of your complaint. As an exception, if we are unable to rule within the time limit under the previous sentence for reasons beyond our control, we will send you a reply in which we will clearly indicate the reasons for the delay, as well as the period within which you will receive our decision on your complaint, which period will not exceed 35 working days from the receipt of your complaint.
2. If we do not accept your complaint regarding the payment service provided through Phyre App, or if you do not receive a response within the time limits under item 1 above, you may refer the dispute to the Conciliation Commission for Payment Disputes at the Commission for Consumer Protection in Bulgaria. The assistance of the Conciliation Commission may be requested after the dispute has been referred for resolution by Paynetics and there is a decision – address: Sofia 1000, 1 Vrabcha Str., fl. 4, tel. +359 2 9330565, fax: +359 2 9884818, website www.kzp.bg and http://abanksb.bg/pkps; e-mail: adr.payment@kzp.bg. When the dispute concerns contracts for online sales or services, the Electronic Platform for Online Consumer Dispute Resolution can be used to resolve it: http://ec.europa.eu/odr.
3. If you have a complaint about the Phyre App, you will need to contact Phyre on support@phyreapp.com.
XXIII. Disputes with traders
If you have disputes regarding purchases made through your Paynetics card or your Paynetics Account through the Phyre App, you must settle them with the person from whom you purchased the goods or services. We are not responsible for the quality, safety, legality or any other defect of any goods or services purchased through the Phyre App. Remember that once you have used your Paynetics card or your Paynetics account to make a purchase through the Phyre App, we cannot stop this transaction and you owe us the appropriate fees, if any.
XXIV. Partial invalidity
If any court or competent authority finds that any provision in these General Terms and Conditions (or any part of any provision) is invalid, illegal or unenforceable, that provision (or part thereof) shall be deemed to be non-existent to the extent necessary, but the validity and enforceability of the other provisions of these General Terms and Conditions shall not be affected.
XXV. Applicable law and language
These General Terms and Conditions are governed by Bulgarian law and are subject to the exclusive jurisdiction of the Bulgarian courts. For the issues not regulated in these General Terms and Conditions, the Protection of Persons with Disabilities Act and the issued acts for its implementation shall apply.
TRANSITIONAL AND FINAL PROVISIONS
1. These General Terms and Conditions have been adopted by a decision of the Board of Directors of Paynetics AD.
2. These General Terms and Conditions, together with the document "Paynetics Fees and Limits", which is an integral part of the General Terms and Conditions, have been amended by a decision of the Board of Directors of Paynetics AD dated 12.03.2020.
2.1. The amendments adopted by a decision of the Board of Directors of Paynetics AD dated 12.03.2020 to these General Terms and Conditions, together with the document "Paynetics Fees and Limits", which is an integral part of the General Terms and Conditions, shall enter into force:
- from 18.03.2020 for Phyre App users registered after 17.03.2020 and
- from 19.05.2020 for users registered in Phyre App until 17.03.2020 /inclusive/;
2.2. Users registered in Phyre App until 17.03.2020 (inclusive) should be notified directly in their Phyre App of the amendments adopted by a decision of the Board of Directors of Paynetics AD dated 12.03.2020, in these General Terms and Conditions, including the amendments to the document "Paynetics Fees and Limits", which is an integral part of the General Terms and Conditions, in compliance with the procedure under Article 62 PSPSA.
- a notification is made at least two months before the date on which the changes are proposed to enter into force, and
- the notification is accompanied by information where the text of the amended General Terms and Conditions and the document "Paynetics Fees and Limits" can be found, and
- users are informed that they can accept or reject the amendments before the date on which they are proposed to enter into force, and
- together with the notification, Paynetics AD informs the respective user that it will consider that the latter has accepted the changes in the General Terms and Conditions, together with the document "Paynetics Fees and Limits", unless it notifies Paynetics AD through one of the contact methods that it does not accept these changes before the date on which the changes enter into force, and
- Paynetics AD notifies the users that if they do not accept the changes in the General Terms and Conditions, together with the document "Paynetics Fees and Limits", with the notification to Paynetics that they do not accept these changes, made at any time before the date on which the changes are proposed to enter into force, these users also make a statement for termination of their contract with Paynetics, without being responsible for costs and compensations.
2.3. Users registered in Phyre App until 17.03.2020 (inclusive), who agree with the amendments to these General Terms and Conditions, together with the document "Paynetics Fees and Limits", adopted by a decision of the Board of Directors of Paynetics AD dated 12.03.2020, are notified that they need to undergo the procedure according to Identification Level 1 and until it is passed, Paynetics may refuse to perform transactions with the Paynetics card and the Paynetics account.
3. These General Terms and Conditions, together with the document "Paynetics Fees and Limits", which is an integral part of the General Terms and Conditions, have been amended by a decision of the Board of Directors of Paynetics AD dated 10.03.2021, in connection with the introduction of a new service: cash deposit to a payment account through a Special Cash Terminal. As the changes are in your favour and improve the protection of your rights as a user, are related to changes in the limits established by us and the addition of new services in the Phyre App, these changes will come into force immediately as of 15.03.2021 for all Users registered in the Phyre App, and the choice whether to use the new services is entirely at your discretion.
4. These General Terms and Conditions have been amended by a decision of the Board of Directors of Paynetics AD dated 18.05.2021, in connection with the introduction of new services: the ability to purchase and activate Electronic Vignettes, the ability to apply for a loan through the App and the ability to pay utility bills and liabilities to state and municipal administration.
As the changes are in your favour and are also related to the addition of new services in Phyre App, these changes will take effect immediately, as of 15.12.2021 for all Users registered in the Phyre App, and the choice whether to use the new services is entirely at your discretion.
5. These General Terms and Conditions, together with the document "Paynetics Fees and Limits", which is an integral part of the General Terms and Conditions, have been amended by a decision of the Board of Directors of Paynetics AD dated 06.06.2022.
5.1. The amendments to the General Terms and Conditions are related to a change in the requirements for an available version of the operating system of the mobile device on which the Phyre App can be used, and a change in the address and other contact details of the Conciliation Commission for Payment Disputes at the Consumer Protection Commission. Since these changes are not related to changes in services and price parameters, they will take effect immediately.
5.2. The change in the document "Paynetics Fees and Limits", which is an integral part of the General Terms and Conditions, is related to the introduction of a new fee, namely the fee "Fee for garnishment administration (for each individual garnishment)" in the amount of BGN 10. | €5.11. They enter into force
- from 17.06.2022 for Phyre App users registered after 16.06.2022 and
- from 01.09.2022 for users registered in the Phyre App until 16.06.2022 /inclusive/ in compliance with the procedure under Article 62 PSPSA.
6. These General Terms and Conditions have been amended by a decision of the Board of Directors of Paynetics AD dated 15.01.2025, in connection with clarifying the method of notifying the user of changes in the General Terms and Conditions by means of an active notification in the Phyre App. These changes will take effect immediately from 30.01.2025. for all users registered with the Phyre App.
The phyre payment services are provided by Paynetics AD - e-money institution licensed by BNB. The pricing model of phyre is regulated by the Paynetics fees and limits. Pricing is listed according to the wallet currency in the following sequence: BGN / EUR / GBP / RON.
phyre is a mobile app that turns your phone into a digital wallet. You can use it to easily shop anywhere with a POS and online. At the same time you can store all of your loyalty cards in the app and use them directly from your phone. phyre also allows you to send and receive money instantly and with no fees within the community. Pay and track spending to optimise your budget. Install phyre for iOS and Android and start for free.
Payment services through the application phyre are provided by Paynetics AD - an electronic money company, holding a license issued by the Bulgarian National Bank (BNB) with decision № 44 of 11.04.2016. phyre AD is a provider of the phyre application and a representative of Paynetics AD, entered in the BNB register under Art. 19 of Payment Services and Payment systems Act.
