Last updated 01/2021

Important Note:

PLEASE READ THIS AGREEMENT CAREFULLY BEFORE USING ANY PAYMENT APPROVED SERVICE OR UTILITY.  AMONG OTHER THINGS, THESE TERMS AND CONDITIONS DESCRIBE YOUR RESPONSIBILITIES AND LIMIT OUR LIABILITY TO YOU AND OTHERS.  DO NOT USE ANY PAYMENT APPROVED SERVICE IF YOU DO NOT AGREE WITH THE TERMS OF THIS AGREEMENT, OUR PRIVACY POLICY OR ANY OTHER AGREEMENT OR CONDITION APPLICABLE OR REFERENCES HEREIN OR ANY OTHER PAYMENT APPROVED SITE.  BY ACCESSING AND USING OUR SERVICE YOU AGREE THAT YOU HAVE READ, UNDERSTOOD, AGREE WITH, AND ACCEPT ALL THE TERMS AND CONDITIONS SET FORTH HEREIN, OR, AS PAT MAY AMEND IN ITS SOLE DISCRETION FROM TIME TO TIME.

GENERAL. These Terms and Conditions constitute an agreement (the “Agreement”) between Payment Approved Technologies, LLC (“PAT”, “we”, “our” and “us”) including our agents, successors, assigns, and affiliates, and any fictitious trade name under which PAT may officially conduct business in any jurisdiction, and you (“you” and “your”) as a Customer that has accessed PAT’s Service, as more specifically defined below.

PAT may modify this Agreement at any time without notice.  Any update, revision, amendment or modification made to this Agreement shall become effective and binding on all parties accessing and using the Service immediately upon posting on the PAT website. Please check our website periodically for changes since use or access of our Service following any contractual alteration will constitute acceptance thereto. You agree that you shall not modify this Agreement and acknowledge that any attempt to do so shall be void.

DESCRIPTION OF THE PAT SERVICE. PAT’s “Service” may include one or more of the following: 

The loading of value to a PAT “E-Wallet” using a PAT application, or any other means of loading value onto the PAT Wallet; and/or

The  transfer of funds or value (“Funds Transfer”) by a “Sender” through PAT’s proprietary money transfer application to a beneficiary or “Recipient” under a U.S. bank (“Bank”) “For the Benefit Of” (“FBO”) account, which allows PAT to deploy its application and technology to a US bank  sot that the bank may conduct the transfer; and/or

The processing of Fund Transfers originated or delivered by licensed Money Transfer Organizations (MTOs), once vetted and approved by PAT through its onboarding process to participate in PAT’s CBIX network, or otherwise approved by sponsoring networks with which PAT may affiliate; and/or

The processing of Fund Transfers under PAT’s own license as a money transmitter in certain limited jurisdictions.   Consult our website at www.paymentapproved.com for an updated list of jurisdictions where services may be provided under Money Transmitter licenses.

KEY DEFINITIONS

A “Transaction” includes:

The loading of value onto PAT’S E-Wallet by an application user;

A Fund Transfer between a Sender and a Receiver;

The receipt and forwarding of payment instructions and the parallel processing of funds involved in a Fund Transfer;

A “Fund Transfer”, “Remittance” or “Payment”, via a payment instruction in the amount to be transmitted by a Sender to a Recipient.   A Fund Transfer transaction is accepted when the payment instructions along with the requisite funds are received by PAT, or a PAT partner, and PAT in turn has issued a receipt evidencing the Transaction. Payment of the Principal Amount (defined below) along with all applicable Transaction Fees (defined below) is due before any Transaction may be accepted and processed. PAT will be responsible for remittance requests received only after the full amount to be remitted in addition to all applicable fees are credited to PAT or paid in full by means of any accepted form of payment. However, in the event that PAT advances payment for a Transaction requested and completed by a Sender, that Sender shall be liable for the full Transaction amount.

The “Principal Amount” is the money amount that the Sender or a Money Transfer Organization  provides PAT in acceptable form (e.g. in cash, check, bank deposits, money orders, debit and credit cards, etc.) for remittal to the Recipient, excluding applicable Transaction Fees and prior to any foreign exchange conversion rates being applied thereto. “Transaction Fees” include all fees, charges or money owing to PAT which it collects above the Principal Amount before accepting to process any Transaction.

The “Payout Amount” will be the Principal Amount or the resulting local currency amount converted pursuant to the applicable exchange rates published by PAT ultimately made received by the Recipient, minus any applicable taxes, fees, tariffs or charges levied (the “Local Taxes or Charges”).

FRAUD PROTECTION AND CONSUMER AWARENESS.

The transmission of funds, and especially transmissions that cross-borders, is susceptible to various types of frauds.  Some of those affect vulnerable individuals more directly, including the elderly.   To mitigate the risks of fraud, PAT cautions our MTO partners to ensure that their customers, when they intermediate relationships, or our Customers when they send directly to:

  • NEVER Send transfers to or on behalf of strangers.  If you feel uncomfortable with the transaction, inform a family member, the police or call PAT’s customer service department;
  • NEVER Send money to pay for taxes or lottery winnings;
  • NEVER Lend your account for strangers to deposit any funds;
  • NEVER Send a money transfer for online purchases you have not initiated yourself;
  • NEVER Accept or deposit a check for someone who requests that you send a portion of the money back;
  • NEVER Provide personal information, including name, address, social security number or date of birth to strangers over the phone or in person; and
  • NEVER Send money to help anyone you are not in personal contact with, in an emergency unless you have verified the veracity of the emergency.

Persons who are elderly or are of diminished physical or legal capacity, should not conduct any financial transactions with strangers unless they have verified those transactions with close family members or guardians.

FEES.

A number of fees may apply to the Service, including the following:

Transaction Fee – In consideration for the use of the PAT Service Customer agrees to pay all applicable transaction fees (“Transaction Fee”) plus the Principal (together referred to as the “Transaction Amount”). Payment is due at the time your Transaction is submitted for processing.  Our Transaction Fee schedule is subject to change from time to time at our sole discretion.  All fees are prominently disclosed before you conduct a transaction.

Returned Item Fee – In addition to the Service Fee, we will charge a one-time Returned Item Fee of US$35 per Transaction, or a lesser amount if limited by applicable law, if PAT’s payment request is rejected by your bank due to account closure or insufficient funds.

Servicing Fee – If Recipient does not claim or attempt to claim or use funds made available to that Recipient, we may attempt to contact the Recipient and/or the Sender, to ensure proper disposition of those funds. Transactions not disbursed or refunded to Sender pursuant to its instructions within 30 days following expiration of the order may be assessed a non-refundable Servicing Fee of two s ($2.00) dollars per month from the send date (or where such charge exceeds the maximum amount permitted by law, the maximum amount permitted by law), which will be deducted from the amount sent.

Third Party Fees – PAT is not responsible for any fees or charges that may be indirectly imposed to the Customer by other financial institutions, or intermediaries, used to transfer, credit or deposit the Transaction Amount. For example, some credit card issuers may treat the use of credit cards to pay for the Service as a “cash advance” rather than a purchase transaction, thus imposing additional fees and interest rates on the transaction.   Where possible, and where fees are directly related to PAT’s provision of the Service, PAT will disclose all applicable fees and charges before you complete your transaction.

NSF fees- PAT is not responsible for any insufficient funds charges, NSF fees, chargeback fees, or other, similar charges that might be imposed on you by your bank, credit card issuer, or other provider in order to configure any Transaction. Similarly, you must reimburse fees, non-sufficient fund fees, chargeback fees, or other similar fees charged for Transactions that result in PAT being charged for any such fees.

Third Party Charges- Unless otherwise required by law, PAT will not be responsible for certain third-party charges or taxes collected on Transactions by a person other than PAT that may result in the Recipient receiving less than a Transaction’s disclosed amount. Where possible, and where fees are directly related to PAT’s provision of the Service, PAT will disclose all applicable fees and charges before you complete your transaction.

Miscellaneous Fees – Certain additional fees and charges may apply for services not listed above. We will disclose the cost of any such services to you at the time you make the request, and you authorize us to charge any fees for these services to your bank account or balance of pre-purchased services.

ELIGIBILITY. In the United States, the Service is available only to Senders who are U.S. residents, or parties in transit, 18 years of age or older, with the legal capacity to execute agreements.  PAT may refuse or discontinue the Service to anyone at any time, in its sole discretion.   Funds transfers may be made using only legally obtained funds and funds that will be used solely for legal purposes.

The Service is available only to individuals residing in jurisdictions where PAT is authorized and/or licensed to do business or where PAT’s partners are licensed or authorized to conduct business. Residents in states, countries, and jurisdictions where PAT is not licensed and/or authorized to provide the Service are precluded from accessing the service.

All Senders must undergo a customer identification, verification and/or validation process pursuant to PAT’s Anti-Money Laundering, Bank Secrecy Act, Office of Foreign Assets Control, Anti-Fraud, Consumer Protection or any other related policies and procedures.   The Service may be used to send money only to Recipients that you know personally.   

REPRESENTATIONS OF USERS and MTOs. By using this Service, you represent that:

  • You understand and will abide by the terms of this Agreement;
  • You are not using the Service in connection with any illegal, fraudulent, speculative, deceptive or manipulative act or practice;
  • All information you provide, including but not limited to your profile information and all data entered in connection with any Transfer or other Transaction, will be complete, up to date, and accurate in all respects;
  • You have ensured that your contact, and bank account or debit/credit card information is up to date; and,
  • You are not engaging in the following restricted activities:
  • opening more than one account with PAT;
  • using an anonymizing proxy;
  • providing a cash advance from your credit card to yourself;
  • using the Service to send or receive a transaction on behalf of another individual, charity, or company; or
  • using funds derived from or intended to further any criminal activity in any jurisdiction.

PAYMENT.

You may fund and pay PAT for transfers and fees by ACH or through credit/debit cards.  When selecting ACH or debit/credit cards, you authorize PAT to debit the Principal Amount along with any applicable fees pursuant to the payment instructions you provide us at such time. You also authorize us to initiate debit or credit entries to bank account or credit/debit card balances to correct errors in the processing of any Transaction, provided that any such correction is made in accordance with your original authorization, applicable laws and regulations. Errors include reimbursements of incorrect payment amounts and resubmission of an adjusted amount as well as returns for amounts collected in excess to an amount authorized by a Sender. Upon identification of an error with your payment, PAT will use reasonable efforts to promptly contact you and advise you of the situation using the contact information you provided to the Company.

In addition, if you elected to fund a Transaction using your bank account or credit/debit card, you authorize the financial institution at which your bank account is maintained or your credit/debit card issuer to accept Automated Clearing House (“ACH”) credits or debits to such account or appropriate charges and debits to your cards. You further authorize us to obtain information regarding your payment from the financial institution at which your bank account is maintained or who is responsible of issuing your credit/debit card to resolve payment posting problems. Your authorization will remain in full force and effect until we receive notification from you of its termination. Any termination will become effective as soon as we confirm receipt thereof or have had a reasonable amount of time to act on it.

If PAT payment collection attempts are declined, or if for any other reason not attributable to PAT it is unable to debit a bank account, charge a credit/debit card, or collect from any other selected payment instrument for a Transaction you have originated, that PAT has advanced and processed, you will be liable to us for the amount of that Transaction. You hereby authorize us to resubmit any outstanding charge up to two (2) times each week until we successfully collect any amount owing or receive an express stop order on your behalf.

TRANSACTION DATA REQUIREMENTS.

You must ensure that the account and currency details selected are correct before sending. If the details are incorrect, money may be credited to the wrong account and may not be recoverable. We rely on the accuracy of the information you provide, and generally do not allow for changes to Transactions once they have been submitted. 

CURRENCY EXCHANGE. If this option is available, Funds Transfers may be remitted in U.S. dollars or the local currency of the destination country. A currency exchange rate may be applied when U.S. dollars are converted to another currency at an exchange rate that will be set by PAT pursuant to its business policies and disclosed at the time of each Transaction. The exchange rates established for conversion purposes to process any Transaction may result in revenue for PAT, in addition to any other Transaction fee charged.  Any difference between the exchange rate at which PAT purchases foreign currency and the exchange rate given to you will be kept by PAT in addition to the Transaction Fees charged. The currency and applicable exchange rate for any Transaction will be fixed at the time the transaction is configured and accepted and will be listed on the receipt issued for each Transaction. The exchange rate posted in the receipt will remain valid until the Transaction expires 30 days following the date they were configured.

CANCELLATIONS AND REFUNDS. Consumers may cancel an international Transaction within 30 minutes of authorizing your Transaction, unless funds have already been delivered or credited to and/or used by the Recipient. Cancellation requests submitted after the 30-minute window closes are ordinarily not granted.  You may request a refund in those instances.

PAT will refund cancelled transactions at no additional cost to the Sender within three (3) business days of receiving a Sender’s request.  We will not be able to process your cancellation request unless and until we receive confirmation that funds have not been distributed, an effective stop order is in effect, and all transferred funds have been placed on hold. PAT will not be responsible or liable to you or any other person for its failure to cancel a Transaction before it is collected except as otherwise set forth in this Agreement or required by law. Customer will remain liable for previously authorized Transactions until PAT confirms the successful cancelation thereof.

PAT will try not to debit your payment instrument after we have received your request for cancellation. However, in the case where PAT initiated an irreversible request for funds from your financial institution prior to receiving your request for cancellation, your payment instrument may be debited after you have cancelled your Transaction. PAT will refund your money after it has received the funds from your financial institution, crediting the same payment instrument used to pay for the Transaction.

Cancellations may be subject to a refund of the Principal Amount less any applicable Servicing Fees, upon Sender’s request to cancel the Transaction. 

Notwithstanding the foregoing, residents of the below listed states should read the following:

StateProvision  
CaliforniaRIGHT TO REFUND: You, the customer, are entitled to a refund of the money to be transmitted as the result of this agreement if PAT does not forward the funds received from you within 10 days of the date of its receipt or does not give instructions committing an equivalent amount of funds to the person designated by you within 10 days of the date of the receipt of the funds from you unless otherwise instructed by you. If your instructions as to when the funds shall be forwarded or transmitted are not complied with and the funds have not yet been forwarded or transmitted, you have a right to a refund. If you want a refund, you must fax your written request to PAT at (800) 357-1673 or mail it to Payment Approved Technologies, LLC, Attn: Customer Service, 600 Congress Av 14th Floor Austin TX, 78701 If you do not receive your refund, you may be entitled to your money back plus a penalty of up to $1,000 and attorney’s fees pursuant to Section 2102 of the California Financial Code.  
New HampshireSenders are entitled to a refund of the Principal and Transaction Fee if their Transaction is not paid out according to the information they provide about their Recipient, unless the Transaction is in violation of this Agreement or applicable law. In the case of any such refund, the Transaction will also be cancelled.  
Washington StateYou, the customer, are entitled to a refund of all moneys received for transmittal within ten days of receipt of a written request for refund unless any of the following occurs: The monies have been transmitted and delivered to the recipient prior to receipt of the written request for a refund; Instructions have been given committing an equivalent amount of money to the person designated by the customer prior to receipt of a written request for a refund; PAT, or its authorized delegate, has reason to believe that a crime has occurred, is occurring, or may potentially occur as a result of transmitting the money as requested by the customer or refunding the money as requested by the customer; or PAT is otherwise barred by law from making a refund.

ERRORS. You have a right to dispute errors in your Transaction up to 180 days after completing your Transaction. If you think there is an error, contact us within 180 days of the Transaction at (800) 357-1673 or send an e-mail notification to support@paymentapproved.com. You can also contact us for a written explanation of your rights. If you notice an error related to our Service in your bank or credit card account, direct your questions and concerns immediately to PAT. Contacting PAT promptly is the best way to minimize potential losses.

EXPIRATION. If PAT has made a Funds Transfer available to a Recipient and Recipient has failed to claim or use such funds within 30 calendar days following the date when the Transaction was placed, the Transaction will automatically expire (“Transaction Expiration”). PAT will make the original Principal Amount minus all applicable Servicing Fees available for refund to the Sender.

For expired or cancelled orders, Sender is only entitled to a refund of the Principal Amount less any applicable Servicing Fees, upon Sender’s request. Refunds will be made within fourteen (14) days of receipt of a valid written request from Sender. Refunds may be made, at PAT’s discretion, by issuing a check to the Sender, or reversing the funds to the Sender’s bank account or credit/debit card. 

DAILY AND TRANSACTION LIMITS. PAT may impose Transaction limits on some or all Senders and Recipients relating to the value of any Transaction, the cumulative value of all Transactions during a period of time or the number of Transactions per day or other period of time. We will not be liable to you if we do not process a Transaction that would exceed any internally established transactional limits. PAT may allow exceptions to its limits under particular circumstances at its sole discretion.  PAT reserves the right to change or modify these limits without notice to you.

TRANSACTION PROCESSING. PAT may at its sole discretion refuse to process a Transaction or limit the amount that may be transferred using the Service. Transactions may also be delayed or cancelled by PAT without notice for reasons that include but are not limited to fraud and AML compliance review, identity verification, requests for additional information, and compliance with applicable laws. You may be entitled to a refund in certain circumstances.

COLLECTION OF INFORMATION AND IDENTITY VERIFICATION. By law, we are required to obtain, verify, and record information that identifies Senders and Recipients. PAT is dedicated to aiding efforts to combat money laundering activities and the funding of illegal activities, and thus may also lawfully obtain information about you and the Recipient from other sources without your knowledge, subject to our Privacy Policy.

PAT reserves the unilateral right to ask you for additional information and the submittal of specific documents as well as requiring you to take steps to confirm the information you provide. You authorize PAT to verify all information against third party databases and obtain any consumer report on you it considers necessary to evaluate your application for any lawful purpose and agree to accept all disclosure requests that may be reasonably requested by PAT directly from you.

You authorize PAT to request your mobile carrier to use your mobile subscriber details for verifying your identity. Those details may include name, billing address, email, and phone number.

If PAT is unable to verify the information you provide or you unreasonably refuse to collaborate with any of our information requirements, your application for a Transaction may be rejected.  Furthermore, if we ascertain you provided false information, your profile may be terminated, and any pending Transfers may be cancelled. In addition, you may be subject to civil and criminal penalties.

Information about you and your Transactions may be provided to government authorities and law enforcement agencies pursuant to federal or state requirements.

PROHIBITED TRANSACTIONS. Services provided by PAT may not be used in violation of this Agreement or applicable laws. The use of PAT’s Services for any of the following activities is strictly prohibited: gambling, sexually oriented materials or services, laundering money, funding terrorist organizations, and the sale or purchase of controlled substances, firearms, or tobacco, or any fraudulent activities.

PAT has the right to terminate or to refuse your access to the Service or to terminate or reverse any Transaction if it believes, in its sole discretion, you are using the Service for any illegal or improper purpose or if: (a) any payment received is reversed because the payment information that was used was not authorized; (b) we have reason to believe any Transfer may not be authorized by you or you were aware the sufficient funds were not available in your bank account; (c) any Transaction involves funds subject to a hold, dispute or legal process preventing their withdrawal from the Bank Account or Debit Card Account; (d) any Transaction would violate any law, rule or regulation applicable to the Service, you or the financial institution where your Bank Account, Debit Card Account or Credit Card Account is held; (e) any Transaction is not in accordance with any other requirement stated in this Agreement or any of our policies, procedures or practices; or (f) for our mutual protection, we have reasonable cause not to process a Transaction request.

You agree that neither PAT nor any representative, collection agent, employee or payout correspondent will be held responsible or liable to you or any other person for such action except as required by law. PAT may report suspicious activity to appropriate law enforcement organizations or other government agencies when it deems necessary pursuant to its internal guidelines and rules.

TRANSACTION HISTORY. Upon request, Senders may be provided with access to the records of their Transactions completed within the preceding five (5) years. All Transaction information provided on the receipt will be available either directly online, by contacting our Customer Service Representatives at our Call Center, or by direct request to the Authorized Delegate who configured your Transaction. If PAT is required under applicable law to provide you with written statements, you acknowledge and agree that your activity history will be provided to you online in lieu of written statements, or may be printed by an Authorized Delegate.

COMPLIANCE WITH GDPR.  If you are a national of a European Union country, you are entitled to certain protections under the EU General Data Protection Regulation (GDPR).  PAT applies data protection controls consistent with GDPR requirements. To the extent allowed by law, PAT may remove personally identifiable information upon  receipt of your request.  However, you recognize and accept that PAT has legal and regulatory obligations to maintain certain regulated information about you and your transactions.  PAT will comply with all such requirements, notwithstanding any GDPR requirements.

USER ID. Your User ID will be stored pursuant to PAT’s applicable consumer data protection practices. You agree to NOT give your User ID to any unauthorized individuals. If you forget your User ID you may retrieve it online or contact us at (800) 357-1673 or by e-mail at support@paymentapproved.com or write to us at 600 Congress Av 14th Floor Austin TX 78701.  If you believe that your User ID has been lost or stolen or that someone has attempted or may attempt to send or receive funds using your User ID contact PAT immediately at (800) 357-1673 or by e-mail at support@paymentapproved.com.   EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT, PRIOR TO YOUR NOTIFICATION TO PAT ABOUT THE LOSS OR THEFT OF YOUR USER ID, YOU REMAIN RESPONSIBLE FOR ALL TRANSACTIONS INVOLVING YOUR USER ID, EXCEPT IN THE EVENT OF A PAT DATA BREACH.

COPYRIGHT AND TRADEMARKS. PAT brands and trade names, its web site, mobile applications and their content, and all other intellectual property rights (including but not limited to copyrights, patents, database rights, trademarks and service marks) are owned by PAT or third parties and all right, title and interest therein and thereto shall remain the property of PAT and/or its licensors, successors or other third parties. No right, title, or interest in any content or intellectual property in transferred whether as a result of downloading or otherwise. The use of all online content and other intellectual property requires the written permission of PAT or the applicable title holder. You agree not to copy, modify, publish, distribute or transmit Content or remove any copyright, trademark or other proprietary notice or legend contained on the site on the content (or printed pages thereof) unless expressly authorized in writing for that purpose by PAT or the applicable title holder. You further agree not to engage in or use any automated devices, data mining, robots, scraping or similar data gathering or extraction methods to access or use the Service. PAT and other names and indicia of PAT’s products and/or services referenced herein are exclusive trademarks and service-marks or registered trademarks of PAT. Other product and company names appearing in the site may be the trademarks of their respective owners.

LOCATION. In order to better serve you, PAT may attempt to obtain your geolocation while you are logged into the website, application, or in-app module. PAT may require that you grant access to your location through your mobile device or other online platform.

ELECTRONIC COMMUNICATION. To the extent permitted by law, you consent to receipt in electronic form all of the disclosures we would otherwise be required to provide to you in paper form, including those listed below. Your consent will remain in effect until you withdraw it. You may withdraw your consent to receive further notices or disclosures electronically at any time by contacting us at (800) 357-1673 or by e-mail at support@paymentapproved.com and providing your name and mobile phone number or e-mail address and telling us you are withdrawing your consent. Withdrawal of consent to receive electronic notices will result in the closure of your account.

By providing PAT with a mobile phone number, you consent to receiving text messages from us to: (i) service your transaction, or (ii) investigate or prevent fraud. We will not use autodialed or prerecorded calls or texts to contact you for marketing purposes unless we receive your prior express written consent. You do not have to agree to receive texts to your mobile phone number in order to use the services offered by PAT. You can decline to receive texts to your mobile phone number in several ways, including by replying “STOP” to our text message or contacting customer support. Standard telephone minute and text charges may apply.

If you provide us with the mobile number of any other person or entity when initiating or requesting a payment through the Service, you represent and warrant to us that the person or entity has consented to receive text messages from us related to that payment. Standard text messaging rates may apply based on your plan with your mobile phone carrier.”

GENERAL COMPLIANCE WITH LAWS; INDEMNITY. You must comply with all applicable laws, statutes, ordinances and regulations regarding your use of the Service. You agree to indemnify and hold PAT and our subsidiaries, affiliates, officers, directors, employees, agents, and consultants harmless from any claim or demand, including reasonable attorneys’ fees, made by any third party due to or arising out of your breach of this Agreement, your use of our application, your violation of any law or the rights of a third party, or otherwise arising out of your use of the Service and any intentional wrongdoing.

ERROR RESOLUTION. Please let us know if you think there has been an error or problem with Funds Transfer. Call us at (800) 357-1673 or  e-mail us at support@paymentapproved.com.  You must contact us within 180 days of the date we promised to you that funds would be made available to the recipient. When you do, please tell us:

  • Your name and address or telephone number;
  • The error or problem with the transfer, and why you believe it is an error or problem;
  • The name of the person receiving the funds, and if you know it, his or her telephone number or address;
  • The dollar amount of the transfer; and
  • The transaction number.

We will address all errors promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation.

RESOLUTION OF DISPUTES BY ARBITRATION. Any dispute or claim arising from or relating to the provision of the Service that involves a claim by you or any claims made by anyone connected with you or claiming through you for less than $10,000, exclusive of interest, arbitration fees and costs, shall be settled by arbitration administered by the American Arbitration Association (“AAA”) under its Arbitration Rules for the Resolution of Consumer Related Disputes. Any other dispute or claim arising from or relating to the Service shall be settled by arbitration administered by the AAA under its Commercial Arbitration Rules, with such arbitration to be held in Austin, Texas.

If you initiate the arbitration, you must notify us in writing at Payment Approved Technologies, LLC located at 600 Congress Avenue, 14th Floor, Austin, TX 78701, or by e-mail at legal@paymentapproved.com. If we initiate the arbitration, we will notify you at the last known postal or e-mail address on file with us. If we initiate arbitration and/or any legal action to collect money owed to us under this Agreement, and if we substantially prevail on our claims in arbitration, you agree to pay all our costs for such arbitration and/or action, including any reasonable attorneys’ fees. Judgment on any award rendered by the arbitrator may be entered in and enforced by any court having jurisdiction thereof.

The parties agree that neither of them shall have the right to participate as a representative or a member of any class of claimants pertaining to any claim subject to arbitration under this Section 23 and that claims of third parties shall not be joined in any arbitration between the parties. The parties acknowledge and agree that this arbitration agreement is made pursuant to a transaction involving interstate commerce and shall be governed by the Federal Arbitration Act, 9 U.S.C.§1-16.

Disputes filed by you, or by us, individually in a small claims court are not subject to arbitration, so long as the disputes remain in such court and advance only an individual claim for relief. In addition, disputes involving claims that you have infringed or have threatened to infringe our intellectual property rights are not subject to arbitration. If any portion of this Section is deemed invalid or unenforceable, it shall not invalidate the remaining portions of this Section.

THE PARTIES ACKNOWLEDGE AND AGREE THAT, EXCEPT AS EXPRESSLY PROVIDED IN THIS SECTION, THEY ARE WAIVING ALL RIGHTS TO A TRIAL BY COURT OR JURY AS A MEANS OF RESOLVING ANY DISPUTES ARISING OUT OF OR RELATING TO THE SERVICE. This provision does not prevent you from contacting the appropriate regulatory agency with any questions or complaints (see “Problems with Service” below). Within 30 days after initiating a transaction, a Customer may opt-out of this provision by emailing customerservice@PAT.com with their request to opt-out.

CLASS ACTION. Customers agree that all legal actions or claims arising from or relating to any Transaction or the Services shall be brought in their individual capacity only. Neither party shall pursue a Claim as a class representative, a class member or in a class representative action of any kind. Within 72 hours after initiating a transaction, you may opt-out of this provision by emailing support@paymentapproved.com with your request to opt-out.

LIMITED LIABILITY CLAUSE. UNLESS APPLICABLE LAW REQUIRES OTHERWISE, IN NO EVENT SHALL PAT, ITS AFFILIATES, SERVICE PROVIDERS, OFFICERS, AGENTS, PARTNERS, EMPLOYEES OR CONSULTANTS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES BEYOND THE SUM OF $500.00 (IN ADDITION TO REFUNDING THE TRANSACTION AMOUNT AND TRANSACTION FEES).

IN NO EVENT SHALL PAT OR ANY OF ITS AFFILIATES, BE LIABLE ON ANY LEGAL OR EQUITABLE GROUNDS FOR LOST PROFITS OR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, THE USE OF PAT WEBSITE OR APP AND THEIR CONTENTS, OR ANY PRODUCTS OR SERVICES OFFERED BY PAT OR THIRD PARTIES (WHETHER BASED ON CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE), EVEN IF PAT OR ANY OF ITS AFFILIATES HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND NOTWITHSTANDING THE FAILURE OF THE ESSENTIAL PURPOSE OF ANY REMEDY. PAT SHALL NOT BE LIABLE FOR THE ACTS OR OMISSIONS OF THE RECIPIENT’S BANK, SERVICE PROVIDER, OR THEIR RESPECTIVE REPRESENTATIVES, UNLESS APPLICABLE LAW REQUIRES OTHERWISE.

TERMINATION. PAT, in its sole discretion, may terminate this Agreement, your access to PAT’s application or your participation in the Service without notice and for any reason at any time, including but not limited to, tampering, hacking, modifying or otherwise corrupting the security or functionality of the Service. In the event of termination, the Principal Amount of any pending Transaction will be refunded.

30. LINKS TO OTHER WEBSITES. The PAT application may contain links to other web sites and resources (the “Linked Websites”). Links do not imply that PAT is associated with or endorses a Linked Website, or is legally authorized to use any trademark, trade name, logo or author symbol displayed in or accessible through the links, or that any Linked Websites endorse or are authorized to use any trademark, trade name, logo or author symbol of PAT or any of its affiliates.

FORCE MAJEURE. PAT shall not be responsible for Service delays if such delay arises out of causes beyond our control. Such causes may include, but are not restricted to, pandemics, acts of God or of the public enemy, fires, floods, epidemics, riots, quarantine restrictions, strikes, electrical outages, and severe weather.

GENERAL TERMS AND CONDITIONS.

APPLICABLE LAW. THIS AGREEMENT IS GOVERNED BY THE LAWS OF THE UNITED STATES AND THE STATE OF TEXAS, WHETHER OR NOT YOU LIVE IN TEXAS, WITHOUT REGARD TO THEIR PROVISIONS WITH RESPECT TO CONFLICTS OF LAW.

COOKIES. PAT reserves the right to store information on your computer or other electronic device in the form of a “cookie” or similar file. We use such files to present the Site to you more quickly and in a way that is tailored to your pattern of use and stated preferences. We may also use cookies to aid in fraud prevention and security. You may delete or disable our cookie file after each visit to our Site, but this will slow your access to the Site on the next visit.

ASSIGNMENT. We may assign this Agreement without obtaining your consent. You may not assign or transfer this Agreement without our prior written consent.

OPT OUT. Please see our Privacy Policy to instructions regarding how to opt out of email, push notifications and/or SMS notifications from PAT.

PROVISIONS SEVERABLE. If any provision of this Agreement is held to be invalid or unenforceable, the rest of this Agreement will not be affected.

LEGAL ACTION. If we initiate any legal action to collect money owed to us under this Agreement, you agree to pay all our costs for such action, including any reasonable attorneys’ fees.

TAXES. Transaction funds may be subject to withholding by payout correspondents to pay certain taxes and charges levied under the laws of the country where the Transaction was directed to be paid out.

DISCLAIMER OF VARIOUS WARRANTIES. Except where expressly stated otherwise, and to the extent permitted by law, the following applies:

WE PROVIDE OUR APP AND SERVICES “AS IS” AND WITHOUT ANY WARRANTY OR CONDITION, EXPRESS, IMPLIED OR STATUTORY.

PAT IS NOT A PARTY TO, AND DISCLAIMS ALL RESPONSIBILITY FOR, THE UNDERLYING TRANSACTION FOR WHICH A FUNDS TRANSFER IS MADE THROUGH PAT. PAT DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, ARISING OUT OF OR RELATED TO THE PAT SERVICE INCLUDING ANY PRODUCTS OR SERVICES OBTAINED THROUGH PAT, INCLUDING WITHOUT LIMITATION, ANY WARRANTY OF QUALITY, SUITABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY OF INFORMATION OR OTHERWISE, AND ANY WARRANTY WITH RESPECT TO THE ABSENCE OF PATENT, COPYRIGHT OR TRADEMARK INFRINGEMENT OR THE LIKE.

PAT does not endorse and is not responsible for the accuracy of any statement, opinion, or advice given nor for the reliability of any product or service offered by anyone other than PAT.

ACKNOWLEDGEMENT. You acknowledge that PAT is not a bank, and that any interest earned on funds awaiting clearance will be the property of PAT. You acknowledge that PAT is not an escrow service.

MOBILE SERVICES. The Service is accessible via a mobile device. To the extent you access the Service through a mobile device, your wireless service carrier’s standard charges, data rates and other fees may apply.

CONTACT INFO UPDATES. You must promptly update your customer profile following a change of e-mail address, phone number, or address. Otherwise, PAT may not be able to inform you of important customer notifications or transactional information.

LANGUAGE. In the event of an inconsistency between the English and non-English text language text on or related to our website, app, or in-app module, the English text shall be binding.

Thank you for using PAT’s Services.