Mangopay

1 FRAMEWORK AGREEMENT FOR THE ISSUE, MANAGEMENT AND PROVISION OF MANGOPAY ELECTRONIC CURRENCY

General Terms and Conditions of Use of Electronic Currency (version for France) Version of 27/11/2020 Entered into between: The client of the Site, a legal entity or natural person registered with the RCS (or with the National Trade Register or any equivalent professional body) in a Member State of the European Union or in a State party to the European Economic Area or in a third country imposing equivalent obligations in terms of the fight against money laundering and the financing of terrorism, acting on its behalf exclusively for professional purposes (commercial, industrial, artisanal or liberal), hereinafter referred to as the "User", or the "Professional User", or The client of the Site, a natural person residing in a Member State of the European Union or in a State party to the European Economic Area or in a third country imposing equivalent obligations in terms of the fight against money laundering and the financing of terrorism, acting on his or her own behalf exclusively for non-business purposes, hereinafter referred to as the "User" or "Consumer User", on the one hand, and MANGOPAY SA, a limited liability company incorporated under the laws of Luxembourg, whose registered office is located at 2, Avenue Amélie, L-1125 Luxembourg and which is registered with the Luxembourg Trade and Companies Register under number B173459, (the amount of the share capital can be consulted here: https://www. mangopay.com/en/mentions-legales/) authorized to carry out its activity within the European Economic Area, as an electronic money institution approved by the Commission de Surveillance du Secteur Financier, 283 route d'Arlon L-1150 Luxembourg, www.cssf.lu, hereinafter referred to as the "Issuer", on the other hand, hereinafter referred to separately as a "Party" or together as the "Parties". The User is invited to read this Framework Agreement carefully before accepting it. The User is invited to download it on a durable medium, according to the procedure proposed by the Distributor. By default, communications with the Issuer are always carried out through the Distributor, in accordance with the terms and conditions set out in the General Terms and Conditions of the Site, except where a separate method of communication is provided for in the Contract. Definitions For the purposes hereof, the following terms are defined as follows: "Authentication": means the procedures defined by the Distributor to verify the identity of the User or the validity of a Payment Order. These procedures include the use of Personalized Security Data and Identification Data. "Strong Authentication": means the Authentication procedures defined by the Distributor and meeting the requirements of the European Directive 2015/2366 of 25 November 2015. This Strong Authentication includes, in particular, elements allowing to establish a dynamic link between the Transaction, the amount and the Beneficiary. "Banks": refers to the credit institutions that keep the funds collected by the Issuer corresponding to the Electronic Money in circulation. The institutions selected to date are Crédit Mutuel Arkéa and ING Luxembourg. The Issuer reserves the right to select any other credit institution authorized in a Member State of the European Union or a party to the agreement on the European Economic Area. "Payee": means a natural or legal person acting on his behalf, designated by the User among the persons who are clients of the Site, to whom the Electronic Money is transferred in the context of a Payment Transaction. Any Payee may become a User within the meaning of these Terms and Conditions upon acceptance of the Master Agreement subject to acceptance by the Issuer. In certain cases, the Payee may be the Distributor in accordance with the Special Conditions. "Card": means the bank, payment or credit card used by the User to remit funds to the Issuer in consideration for the issuance of Electronic Money. This card is attached to one of the following networks: Visa, MasterCard, CB, Amex. "Account": means an internal reference enabling the Issuer to identify in its books the various transactions for the acquisition, use and redemption of Electronic Money carried out on behalf of the same User and to determine, at any time, the amount in euros of available Electronic Money held by the latter. The Account can in no way be considered as a deposit account, a current account or a payment account. "General Terms and Conditions of the Site": refers to the general terms and conditions of use of the Site concluded between the User acting as a customer of the Site and the Distributor, governing in particular access to the Site. "Framework Agreement" means these General Terms and Conditions of Use for Electronic Money, together with the Subscription Form and the Tariff Conditions, governing the use of the Services and the management of the Account by the Issuer. "Tariff Conditions" means the financial terms and conditions agreed between the User and the Distributor, including the fees due under this Master Agreement. This document includes all fees paid for the acquisition, use and management of the Electronic Money as set forth in the Site Terms and Conditions. "Distributor": means the entity, duly mandated by the Issuer, which operates the Site, whose contact details are set out in the Site Terms and Conditions. The Distributor prepares, facilitates and advises its clients with a view to concluding the Framework Agreement via its Site. It shall accompany its clients throughout their relationship with the Issuer in connection with the performance of their Payment and Redemption Transactions. To this end, the Distributor shall make available to any customer a customer service dedicated to the Payment Transactions carried out pursuant hereto. The Distributor does not collect funds except for the fees agreed upon in the Tariff Conditions. "Personalized Security Data" means the personalized data provided by the Distributor to the User for Authentication purposes. It includes the Identification Data, as well as any other data related to the Authentication or Strong Authentication procedure. "Identification Data": means the User's unique identifier and password, allowing him to access his Personal Space. "Personal Data": means any information relating to the natural person User, or to a natural person connected with the legal person User (including a corporate officer, a beneficial owner, an Authorized Person), within the meaning of European Regulation 2016/679 on the protection of personal data. "Issuer": means MANGOPAY. SA, issuer of the Electronic Money authorized as such in Luxembourg by the Commission de Surveillance du Secteur Financier under the references n°3812 and authorized to carry on its activity in all countries of the European Union. The Issuer is included in the list of electronic money establishments that can be consulted at http://supervisedentities.cssf.lu/index.html?language=fr#Home. "Personal Space": refers to the User's dedicated environment, accessible on the Distributor's Site, enabling him to use the Services. "Subscription Form": means the form to be completed by any prospect wishing to subscribe to the Services, accessible on the Site during registration or made available by the Distributor. "Identifier": means the data required by the Issuer to identify a User for the purposes of carrying out a Payment Transaction consisting of a User (valid email address). "Business Day": means a calendar day excluding Saturdays, Sundays and public holidays in metropolitan France and Luxembourg and any other day designated as such by the Issuer. "Electronic Money": means the available monetary value representing a claim by the User on the Issuer. The Electronic Money is issued by the Issuer against the surrender of the corresponding funds in euro (€) by the User and constitutes a means of payment accepted exclusively by the Beneficiaries. The Issuer keeps it in electronic form on its server by registration in an Account opened for this purpose. "Means of Payment": means the means of payment other than the Card, listed on the Site, offered as an option by the Issuer to enable the User to remit funds to it in consideration of the issuance of Electronic Money. "Payment Transaction": means the transfer of Electronic Money to a Beneficiary designated on the Site by a User. "Order" means the instruction given by the User to the Issuer in accordance with the procedure set forth in the Master Agreement in order to execute a Payment Transaction and/or a Redemption. "Payment Page": means the page secured by Payline, the Issuer's electronic payment service provider. Only this address shall be considered valid by the User. The User is invited to systematically check the address appearing at the top of the page. "Data Subject": means the User who is a natural person or any natural person linked to the User (in particular a corporate officer, a beneficial owner), whose Personal Data are processed in the context of the performance of this Framework Agreement. "Refund": means the transfer by the Issuer on the User's Order, of the cashless funds corresponding to all or part of the available Electronic Money held by the User, less any fees due. "Services": Refers to the services of issuing, managing and making available the Electronic Money, provided by the Issuer to the User as described in article 5 hereof. 4 "Distributor Customer Service": means the service whose contact information is mentioned on the Site, from which the User may obtain information relating to this Master Agreement. "Site": means the Internet site operated by the Distributor whose purpose is to sell goods or services to Users or to collect funds from them, or to put Beneficiaries in contact with Users. The Site has integrated the API with the Brand's colors to allow the User to have a means of payment issued and managed by the Issuer to transfer funds to the designated Beneficiary. "Durable medium" means any instrument that allows the User to store information addressed to him personally so that it can be referred to later for a period of time appropriate to the purpose for which the information is intended and that allows the identical reproduction of the stored information. It is generally presented in the form of a PDF file. "User": means any individual or legal entity acting on its behalf holding Electronic Money registered in an Account opened in its name, in order to carry out one or more Payment Transactions. 2. Purpose The purpose of the Framework Agreement is to define the conditions under which the Issuer provides the User with a means of payment that is accepted exclusively by the Beneficiaries in the context of their relations established through the Site, in consideration of the fees described in article 9 hereof. The proposed means of payment must be systematically prepaid by the User and will not be subject to any advance, credit, or discount. It is based on Electronic Money issued and managed by the Issuer. The Issuer has mandated the Distributor to offer this means of payment to the Site's customers, to facilitate the conclusion of this Agreement and to accompany the Users throughout their relations with the Issuer. Only the Framework Agreement shall be deemed authentic between the Parties in the event of a dispute. 3. Subscription to Services 3.1.Subscription procedures The Framework Contract is concluded remotely, in accordance with the procedures set forth by the Distributor in the General Conditions of the Site. In order to conclude the Master Agreement online, the customer must have equipment (hardware and software), for which it is solely responsible, that is compatible with this method of conclusion. By default, acceptance of the Framework Agreement is made remotely via the Site and is evidenced by an electronic signature. The client may request to sign the Framework Agreement by hand. To do so, he/she must print out this Master Agreement, sign it, and return it electronically or by mail to the Distributor's Customer Service Department whose contact information is indicated in the Site's General Terms and Conditions. In the event of a handwritten signature, the date of conclusion of the Master Agreement shall be deemed to be the date indicated thereon and in the absence of a date, it shall be deemed to be the date of receipt of the Master Agreement by the Distributor. The Framework Agreement shall be signed electronically via the Site. The date of conclusion of the Master Agreement shall be the date on which the customer completes the electronic signature process indicated on the Site. The Framework Agreement concluded between the Parties by electronic means shall have the same evidential value as a paper Framework Agreement. 3.2.Contractual documents 5 The Framework Agreement is composed of : - the present General Terms and Conditions of Use of the Electronic Money; - the Subscription Form available on the Site; - the Pricing Conditions communicated by the Distributor. The present General Terms and Conditions of Use of the Electronic Money, as well as the Tariff Conditions, are made available to the User on the Site and can be downloaded on a durable medium according to the terms and conditions indicated on the Site. At any time during the contractual relationship, the User may, if it so requests, receive these documents on paper. The Issuer shall maintain access to the contractual documents for a period of five (5) years from the end of the contractual relationship. The Issuer will cease to provide this service on expiry of the aforementioned five (5) year period. 4 Opening of the Account 4.1. Any natural person aged at least 18 (eighteen) years, legally capable and any legal entity, resident and/or registered in a Member State of the European Union or in a State party to the Agreement on the European Economic Area or in a third country imposing equivalent obligations in terms of the fight against money laundering and the financing of terrorism, may submit an application to open an Account, provided that the natural person is listed on the Site as a consumer or as a professional. The legal entity can only be listed as a professional. The User declares at the time of transmission of his registration request to the Distributor and throughout the duration of the Master Agreement: - that he is at least 18 (eighteen) years old and legally capable; - that he is acting on his own behalf; - that all information provided at the time of registration is sincere, accurate and up-to-date. 4.2 Registration and Account opening procedure 4.2.1. Information and supporting documents All prospects must send the Distributor the information and documents listed below, by means of the Application Form, in the event that such information and documents are not already in the possession of the Distributor. The prospect undertakes to provide the information and documents corresponding to his or her status, either as a professional or as a consumer. For the User natural person consumer: o his name, first name, e-mail address, date and place of birth, nationality and country of residence; o a copy of an official identity document valid for the User (e.g.: identity card, driver's license, and for nationals of countries outside the European Union a passport); For the professional User: - for natural persons: 6 o his surname, first name, e-mail address, date of birth, nationality and country of residence; o an original or a copy of an extract from the official register dated less than three months ago stating that the User is registered as a trader or in the national register of trades or in any other professional body to which the User belongs; o a copy of a valid official identity document of the User (e.g.: identity card, driver's license, and for nationals of countries outside the European Union a passport). - for legal entities : o its name, its corporate form, its capital, the address of its registered office, the description of its activity, the identity of its partners and directors, as well as the list of beneficial owners as defined by the regulations; o a Kbis extract or an equivalent document less than three months old justifying its registration with the RCS of a Member State of the European Union or of a State party to the agreement relating to the European Economic Area or of a third country imposing equivalent obligations in terms of the fight against money laundering and the financing of terrorism and its articles of association. This document must state the name, legal form, address of the registered office and the identity of the partners and corporate officers mentioned in 1° and 2° of article R. 123-54 of the Commercial Code or their equivalents under foreign law; o a copy of the articles of association and any decisions appointing the legal representative, certified as true; o a copy of the identity card or passport of the legal representative and, where applicable, of the beneficial owner(s); o the declaration of the beneficial owners of the legal entity holding more than 25%, if the prospect has not declared its beneficial owners in the national register, or if it is not subject to this obligation. The User may also be asked to provide a bank identification statement of an account opened in his name with a person mentioned in 1° to 6° bis of Article L. 561-2 of the French Monetary and Financial Code established in a Member State of the European Union or in a State party to the Agreement on the European Economic Area or in a third country imposing equivalent obligations in terms of the fight against money laundering and terrorist financing. It is expressly provided that the Issuer reserves the right to request, prior to any registration and at any time during the term of the Framework Agreement, additional documents concerning the User, the beneficial owner or a specific Payment Transaction. 4.2.2. Limitation of the Account At the Issuer's discretion, the use of an Account may be limited without the Issuer having to justify its decision to the User concerned. In particular, the operation of the Account will be limited if the User has not transmitted all the information and documents required by the Issuer, as listed above. These limits are indicated to the User by the Distributor. 4.2.3. Finalization of registration After entering into the Master Agreement, the User shall provide all information and documents requested by the Distributor. By agreeing to the terms of the Framework Agreement, the User agrees that the Distributor may transmit to the Issuer its application for registration as a User and all supporting documents received by it. 7 Only the Issuer may agree to the registration of a prospect as a User of an Account on its behalf. This agreement shall be notified to the User by the Distributor by any means in accordance with the procedures set out on the Site. The Issuer may, without giving any reasons or entitling the User to compensation, refuse a request to open an Account. The Distributor will notify the User of this refusal by any means in accordance with the procedures set out on the Site. 5. Purchasing Electronic Money can be done by Card (or any other means of payment accepted by the Issuer), in one or more transactions. When the User wishes to carry out such a transaction, he/she identifies himself/herself on the Site by indicating his/her User (valid email address) and password or by connecting via his/her Facebook account. The funds transfer order is transmitted on a Payment Page dedicated to this purpose. For any payment, the Issuer may require the User to enter a single-use code notified to the User's cell phone by the institution issuing the Card. Where applicable, the Issuer may refuse any payment at its own discretion and without this decision giving rise to any compensation. The funds transfer transaction is executed by the Card issuer. Any dispute concerning such a transfer must be notified to the said institution. The Issuer shall have no authority to cancel such transfer. Notwithstanding the foregoing, the User may obtain a refund of the Electronic Money in accordance with Section 5.4. The registration of the Electronic Money in the name of the User may be conditional upon the actual receipt of the collected funds minus the fees agreed upon in the Tariff Conditions. In the event that the transfer of funds is cancelled by the Card issuer following a dispute, for whatever reason, the Issuer may, upon receipt of the information, suspend or cancel any Payment Transaction, close the relevant Account, debit the Account at any time with the amount of Electronic Money corresponding to the funds whose transfer has been cancelled, and proceed to recover the sums owed by the User by any means. 5.2.Operation of the Account The Electronic Money is stored for an indefinite period of time on the User's Account by the Issuer under the agreed Tariff Conditions. The Account is credited by the acquisition of Electronic Money against the remittance of funds ordered by the User directly to the Issuer by Card (or any other means of payment accepted by the Issuer) less the corresponding fees as provided for in the Tariff Conditions. This Account is debited on the Electronic Money User's Order for the amount of the payment or Reimbursement Transaction carried out and the related fees as provided for in the Tariff Conditions. The Issuer is entitled to debit this Account at any time with the amount of Electronic Money corresponding to the fees due and payable as provided in the Tariff Conditions. The amount of Electronic Money available on the Account is immediately adjusted according to: - the fees due and payable, by the User of the Account, for which payment is made in Electronic Money; - the Orders transmitted (or in the process of being transmitted) to the Issuer and relating to the Electronic Money stored on the Account; - the funds received by the Issuer in consideration of the acquisition of Electronic Money on the Account; - and any cancellation relating to one of the aforementioned operations in application hereof 5.3.Use of Electronic Money to carry out a Payment Transaction Before transmitting an Order, the User must ensure that he has sufficient Electronic Money available to cover the amount of the Payment Transaction and the related fees as agreed in the Tariff Conditions. If necessary, it must acquire sufficient Electronic Money in accordance with section 5.1 before the Order can be validly transmitted to the Issuer for execution. The Electronic Money may only be held by the User subject to the actual delivery of the corresponding funds. Electronic Money cannot be issued on credit. Thus, when the amount of Electronic Money available at the date of execution of the Order by the Issuer is less than the amount of the Payment Transaction (including fees), the Order is automatically refused by the Issuer. Information on this refusal is made available to the User on the Site. This refusal may give rise to additional charges in accordance with the Tariff Conditions. The procedures for transmission of an Order by the User are as follows: When the User wishes to make a Payment Transaction, he/she identifies himself/herself on his/her Personal Space by indicating his/her Identification Data and, if necessary, by following the strong Authentication procedure indicated. He shall fill in the appropriate form on the Payment Page and, where applicable, provide the supporting documents requested by the Issuer. The form must indicate the following: the amount of the Payment Transaction expressed in euros (€), the details identifying the Beneficiary, the date of execution of the Order and any other information required. The User gives his irrevocable consent to the Payment Order by clicking on the "validation" tab ("Date of receipt"). The receipt of the Payment Order is confirmed on the User's Personal Space or by the receipt of an email. No Order may be withdrawn by the User after the date on which it is deemed irrevocable, i.e. from the Date of receipt. In some cases, the User may fill in a single form containing an Order for the transfer of funds as provided for in Article 5.1 and an Order for the execution of a Payment Transaction in accordance with the previous paragraph. Execution of the Order: The amount of the Payment Transactions is deducted from the available Electronic Money registered on the Account to be credited to the Payee according to the User's instructions. Thus, the Payee may proceed to the opening of an Account in accordance with article 4.2 to receive the Electronic Money if he is not already a User. The funds corresponding to the Electronic Money used may be transferred directly to a bank or payment account opened in the name of the Beneficiary as soon as the Issuer receives the details of this account. For this purpose, the Beneficiary must provide the IBAN number and SWIFT code of the bank or payment account held by him and its address. This account must be opened by a banking or payment institution established in a Member State of the European Union, in a State party to the Agreement on the European Economic Area or in a third country imposing equivalent obligations in terms of the fight against money laundering and the financing of terrorism. It is expressly agreed that Orders will be executed at the latest at the end of the Business Day following the Date of receipt of the Order by the Issuer (and at the agreed execution date for forward or standing Orders), if the Beneficiary has an Account. Where applicable, the Date of Receipt must be postponed to the opening of the Account or to the day on which the Issuer collects the details of the bank or payment account of the Beneficiary receiving the funds. Any Order received after 4:00 p.m. by the Service Provider shall be deemed to have been received on the next Business Day. If the Date of receipt 9 is not a Business Day, the Order is deemed to have been received on the next Business Day. 5.4.Transmission and execution of a Redemption Order When the User wishes to transmit a Redemption Order, he/she shall identify himself/herself on the Site by indicating his/her Identification Data or by logging in via his/her Facebook account. He fills in the appropriate form on the Payment Page and, where applicable, provides the supporting documents requested by the Issuer. The User shall indicate on the form the following elements: the amount of the Refund, the date of execution of the Order and any other information required. The User gives his irrevocable consent to the Payment Order by clicking on the "validation" tab ("Date of receipt"). The receipt of the Payment Order is confirmed on the User's Personal Space or by the receipt of an email. No Order may be withdrawn by the User after the date on which it is deemed irrevocable, i.e. from the Date of Receipt. The Refund will be made by crediting the Card (or the Means of Payment) used by the User to acquire Electronic Money. Where applicable, it will be made by transferring the funds to the Beneficiary's bank or payment account, the details of which will have been notified to the Issuer ("Notification Date"). It is agreed between the Parties that the Redemption will be executed no later than the end of the Business Day following the Notification Date, as applicable. Any Redemption Order received by the Provider after 4:00 p.m. shall be deemed received on the next Business Day. If the Date of Receipt is not a Business Day, the Order is deemed to have been received on the next Business Day. 5.5.Withdrawal of an Order No Order may be withdrawn by the User after the date on which it is deemed irrevocable as set forth above. 6. Reporting The User has a statement of transactions on the Account in his Personal Space. The User is invited to carefully read the list of these operations. The User acknowledges that only the statement of Payment Transactions validated by the Issuer constitutes recognition by the latter of the amount of Electronic Money available on the Account as at the date indicated on the statement. The User may access at any time on his personal page accessible on the Site the indicative amount of Electronic Money available on his Account. It is specified that for each Transaction carried out on his Account, the User will have the following information: the reference of the Transaction, the identification of the Beneficiary, the amount of the Transaction, the date of receipt of the Order, and, where applicable, the costs relating to the execution of this Transaction. The Issuer shall make available to the User on request the monthly statements of the Account covering the previous thirteen (13) months. 7. Opposition to Personalized Security Data The User must inform the Distributor of the loss or theft of his Personalized Security Data, of misappropriation or of any unauthorized use of his Personal Space or of his data as soon as he becomes aware of it in order to request its blocking. This declaration must be made: - by telephone call to the Distributor's customer service department at the number indicated in the General Conditions of the Site, or; - directly by electronic message via the contact form accessible on the Site. 10 The Issuer, through the Distributor, will immediately execute the request to stop the relevant Identifier. The event will be recorded and time-stamped. A stop payment number with a time stamp will be communicated to the User. Written confirmation of this stop payment will be sent by the Distributor to the User concerned by e-mail. The Issuer shall take charge of the file administratively and shall keep all traces for 18 (eighteen) months. Upon written request from the User and before the expiry of this period, the Issuer will provide a copy of this objection. Any request for opposition must be confirmed without delay by the User concerned, by letter signed by the latter, delivered or sent by registered mail, or by e-mail, to the Issuer at the postal address at the top of this document. The Issuer and the Distributor shall not be held liable for the consequences of a fax or e-mail objection that does not originate from the User. A stop payment request shall be deemed to have been made on the date and time of actual receipt of the request by the Distributor. In the event of theft or fraudulent use of the Identifier, the Issuer is entitled to request, via the Distributor, a receipt or a copy of the complaint from the User, who undertakes to respond as soon as possible. 8. 8.1 Provisions common to all Users For any complaint relating to payment or reimbursement Operations carried out by the Issuer under the present Terms and Conditions, the User is invited to contact the Distributor's customer service department or the address indicated for this purpose in the General Terms and Conditions of the Site. If an Order is executed by the Issuer with errors due to a fault of the latter, the dispute must be transmitted as soon as possible to the Provider, the Order is cancelled and the Account is restored to the situation in which it was before the payment order was received. Thereafter, the Order shall be properly represented. A fee as indicated in the Tariff Conditions may be charged in the event of an unjustified challenge to a Transaction. 8.2 Provisions applicable to the Professional User The Professional User who wishes to contest a Transfer Operation that he has not authorized or that has been incorrectly executed must contact the Distributor's Customer Service by telephone as soon as possible after becoming aware of the anomaly and at the latest within eight (8) weeks of the entry of the operation in the account, and must transmit the dispute to the Issuer as soon as possible. Unless it has good reason to suspect fraud by the User, the Issuer shall reimburse the User for the amount of the Transaction immediately after receiving the request for dispute, and in any event no later than the end of the first following Business Day. The Issuer shall restore the Account to the state in which it would have been if the unauthorized payment Transaction had not taken place. In the event of loss or theft of the Personalized Security Data, the User shall be responsible for any unauthorized Transactions carried out prior to notification of the stop payment. Transactions carried out after the objection are borne by the Issuer except in the case of fraud by the User. 8.3 Provisions applicable to the consumer User The consumer User who wishes to dispute a Transfer Operation that he has not authorized or that has been improperly executed must contact the Distributor's Customer Service by telephone as soon as possible after becoming aware of the anomaly and no later than thirteen (13) months after the date of debit, at the expense of the User. for it to transmit the dispute to the Issuer as soon as possible. Unless it has good reason to suspect fraud by the User, the Issuer shall reimburse the User for the amount of the Transaction immediately after receiving the dispute request, and in any event no later than the end of the first following Business Day. The Issuer shall restore the Account to the state in which it would have been if the unauthorized payment Transaction had not taken place. In the event of a dispute, the burden of proof that the Transaction was authenticated, duly recorded and accounted for, and was not affected by a technical or other deficiency, shall rest with the Issuer. In the event of an unauthorized payment transaction resulting from the loss or theft of Personalized Security Data, the User shall bear, prior to notification of the stop payment, the losses related to the use of Personalized Security Data, up to a maximum of fifty (50) euros. Transactions carried out after the objection are borne by the Issuer except in the event of fraud by the User. However, the User shall not be liable in the event of - Unauthorized Payment Transactions made without the use of Personalized Security Data; - Loss or theft of Personalized Security Data that cannot be detected by the User prior to payment; - Loss due to acts or deficiency of an employee, agent or branch of a PSP or an entity to which its activities have been outsourced. The User is not liable either: - if the unauthorized Payment Transaction was carried out by misappropriating, without the User's knowledge, the Personalized Security Data; - in case of forgery of the Personalized Security Data, if, at the time of the unauthorized Payment Transaction, the User was in possession of such Data. The User shall bear all losses caused by unauthorized Transactions if such losses are the result of fraudulent conduct on his part or if he has intentionally and through gross negligence failed to comply with the obligations to maintain the security of his Personalized Security Data and to notify the opposition in case of loss, theft or misappropriation of such Data. Except in the case of fraudulent conduct on its part, the User shall bear no financial consequences if the unauthorized Transaction was carried out without the Issuer requiring strong Authentication of the User, in cases where the regulations provide that such Authentication is mandatory. 9. Financial Conditions The services provided hereunder shall be invoiced by the Distributor in its name and on behalf of the Issuer in accordance with the Tariff Conditions. All fees payable by the User are automatically deducted from the Electronic Money Account by the Issuer. The User authorizes the Issuer to set off at any time, including after the Account has been closed, any certain, liquid and payable claim that may remain outstanding on any grounds whatsoever. The User may set off the balance of the Electronic Money Account against any amount due, payable and unpaid by the User to the Issuer. 10. Duration and termination The Framework Agreement is concluded for an indefinite period. It shall come into force as of its acceptance by the User. The User may terminate the Framework Agreement at any time, subject to giving thirty (30) calendar days' notice. The Issuer may terminate the Framework Agreement at any time, subject to two (2) months' notice provided in a durable medium. In such case, the fees regularly charged for the Services shall be due by the User on a pro rata basis for the period expired on the date of termination. After six (6) months, the Master Agreement may be terminated without charge. In other cases, termination fees may apply, in accordance with the Tariff Conditions. To do so, each Party must send its notice of termination of this Agreement to the other Party, by registered letter with return receipt requested, to the postal address or e-mail address indicated in the General Conditions of the Site. The User must indicate in the termination letter the details of its bank or payment account enabling the Issuer to reimburse it for the available Electronic Money. In the absence of any indication, it is the responsibility of the Issuer to follow the instructions for Redemption involving the reimbursement by crediting the Card used to acquire the Electronic Money. The Issuer is discharged of any obligation once it has confirmed to the User the transfer to the indicated account or the credit to his Card of the amount of Electronic Money. 
 In the event of a serious breach, fraud or non-payment by the User, the Issuer reserves the right to suspend or terminate the present contract by sending an email accompanied, in the event of termination, by a registered letter with acknowledgement of receipt. In the event of the appointment of a successor to the Issuer to issue the Electronic Money distributed on the Site, it is the responsibility of the Distributor to obtain the express written agreement of the User on this change, on the amount of Electronic Money available and to indicate to the Issuer the terms and conditions for the transfer of funds corresponding to the available Electronic Money. 11. Modification of the Master Agreement The Issuer reserves the right, at any time, to modify the Master Agreement. Any proposed amendment to the Master Agreement shall be provided to the User by the Distributor on a durable medium, no later than two (2) months prior to the proposed date of application for its entry into force. Any new service proposed by the Issuer will be the subject of an amendment to the Master Agreement. Any User may refuse the proposed modifications and must notify its refusal to the Distributor's Customer Service by registered letter with acknowledgement of receipt 2 months before the date of entry into force of the proposed modifications (as evidenced by the postmark) to the address indicated in the General Conditions of the Site. If the User fails to notify his refusal before the effective date indicated, he is deemed to have accepted the proposed modifications. Relations between the Parties after the effective date will then be governed by the new version of the Framework Agreement. In the event of refusal by the User, such refusal shall give rise, free of charge, to the termination of the Master Agreement, as well as to the reimbursement of the units of Electronic Money belonging to the User within a period of thirteen (13) months following the effective date of the termination in order to cover any future disputes. Any legislative or regulatory provisions that would make it necessary to modify all or part of the Master Agreement will be applicable as of their date of entry into force, without notice. The User shall however be informed of them. 12. Security The Issuer undertakes to provide its services in compliance with the applicable laws and regulations and the rules of the trade. In particular, the Issuer will do everything in its power to ensure the security and confidentiality of Users' data, in accordance with the regulations in force. The Issuer reserves the right to temporarily suspend access to the online Account for technical, security or maintenance reasons, without such operations giving rise to any right to compensation. It undertakes to limit such interruptions to what is strictly necessary. However, the Issuer shall not be held liable to the User for any errors, omissions, interruptions or delays in the operations carried out via the Site resulting from unauthorized access to the latter. Furthermore, the Issuer shall not be held liable for theft, destruction or unauthorized communication of data resulting from unauthorized access to the Site. In addition, the Issuer remains unaware of the legal relationship between the User and the Payee of the Payment Transaction or between the User and the Site. The Issuer shall not be liable for the faults, failures or negligence of the User or the Payee towards each other, or of the Site and the User towards each other. 
 If the unique identifier or other information necessary for the execution of a Payment Transaction provided by the User is inaccurate, the Issuer shall not be liable for the improper execution of such Service. The Distributor is solely responsible for the security and confidentiality of the data exchanged in connection with the use of the Site in accordance with the Site's General Terms and Conditions, the Issuer being responsible for the security and confidentiality of the data it exchanges with the User hereunder in connection with the creation and management of the User's Account, as well as the Payment Transactions associated with the Account. 13. Limitation of the Issuer's liability The Issuer shall not intervene in any way in the legal and commercial relations and any disputes arising between the Beneficiary and the User or between the User and the Distributor. The Issuer does not exercise any control over the compliance, security, lawfulness, characteristics and suitability of the products that are the subject of a Payment Transaction. In this respect, it is the User's responsibility to take all useful information before proceeding to purchase a product or service, collect funds or any transaction with full knowledge of the facts. Each transaction carried out by the User gives rise to a contract formed directly between the User and the Beneficiary or Beneficiaries, to which the Issuer is a stranger. Consequently, the latter may not be held liable for the non-performance or improper performance of the resulting obligations, nor for any prejudice caused to the User in this respect. Notwithstanding any provision to the contrary in this Contract, the Issuer's liability towards a User is limited to compensation for direct damages as provided for by the regulations. 14. Commitments of the User The User guarantees that no element of his or her Personal Space on the Site infringes on the rights of third parties or is contrary to the law, public order and good morals. The User attests to the conformity, lawfulness and appropriateness of the Gift made to the Beneficiary, of the purchase of the good to the Beneficiary. He/she undertakes not to execute the Framework Agreement in an illegal manner or in conditions that could damage, disable, overload or alter the Site. He agrees not to impersonate any other person or entity, falsify or conceal his identity, age or create an identity. In the event of failure to comply with these obligations, the Issuer reserves the right to take any appropriate measure to put a stop to the conduct in question. It shall also be entitled to suspend, delete and/or block its access to the Account. Without prejudice to legal action taken by third parties, the Issuer shall be entitled to take any legal action in its own right to compensate for any damage it may have personally suffered as a result of the User's failure to comply with its obligations under this Contract. 15. Right of withdrawal 15.1. Provisions applicable to all Users 14 The User who has been canvassed within the meaning of Articles L. 341-1 et seq. of the French Monetary and Financial Code has a period of fourteen (14) completed calendar days to exercise his right of withdrawal, subject to meeting the conditions of Article D. 341-1 of the same code, without having to give any reason or pay any penalty. This period of withdrawal begins to run from the day of his registration as a User. 15.2. Dispositions applicables à l’Utilisateur consommateur Aux termes de l’article L. 222-7 du Code de la consommation, l’Utilisateur consommateur dispose d’un droit de rétractation pouvant être exercé dans un délai de quatorze (14) jours sans avoir à justifier de motif ni supporter de pénalité. Ce délai de rétractation commence à courir soit à compter du jour de la conclusion du Contrat-cadre, soit à compter de la réception des conditions et informations contractuelles, si cette dernière date est postérieure à celle de la conclusion du Contrat-cadre. Le Contrat-cadre ne pourra recevoir un commencement d’exécution avant l’expiration du délai de rétractation qu’avec l’accord de l’Utilisateur consommateur. L’Utilisateur consommateur reconnaît que l’utilisation des Services après la conclusion du Contrat-cadre sera constitutive d’une demande expresse de sa part pour commencer l’exécution du Contrat-cadre avant l’expiration du délai précité. L’exercice du droit de rétractation emporte résolution du Contrat-cadre qui, en cas de commencement d’exécution, prend la forme d’une résiliation et ne remet pas en cause les prestations antérieurement réalisées. Dans ce cas, l’Utilisateur consommateur ne sera tenu qu’au paiement proportionnel des Services effectivement fournis. 15.3. Exercice du droit de rétractation L’Utilisateur doit notifier sa demande de rétractation dans le délai imparti au Service client du Distributeur par téléphone ou par email et adresser un courrier de confirmation à l’adresse du Service client du Distributeur. A cet effet, il peut utiliser le bordereau de rétractation mis à sa disposition par le Distributeur. 16. Règles de lutte contre le blanchiment et le financement du terrorisme L’Emetteur est soumis à l’ensemble de la réglementation luxembourgeoise et française relative à la lutte contre le blanchiment et le financement du terrorisme. En application des dispositions de droit français et luxembourgeois, relatifs à la participation des organismes financiers à la lutte contre le blanchiment des capitaux et le financement des activités terroristes, l’Emetteur est tenu de s’informer auprès de tout Utilisateur pour toute opération ou relation d’affaires de l’origine, de l’objet et de la destination de l’opération ou de l’ouverture du Compte. Il doit, par ailleurs, réaliser toutes les diligences nécessaires à l’identification de l’Utilisateur et le cas échéant, du Bénéficiaire effectif du Compte et/ou des Opérations de paiement liées à celui-ci. L’Utilisateur reconnaît que l’Emetteur peut mettre un terme ou reporter à tout moment l’usage de Données de sécurité personnalisées, l’accès à un Compte ou l’exécution d’une opération ou d’un Remboursement en l’absence d’élément suffisant sur son objet ou sa nature. Il est informé qu’une opération réalisée dans le cadre des présentes peut faire l’objet de l’exercice du droit à la communication de la cellule de renseignement financier nationale. L’Utilisateur peut, conformément à la réglementation, accéder à toutes les informations ainsi communiquées sous réserve que ce droit d’accès ne remette pas en cause la finalité de lutte contre le blanchiment des capitaux et le financement du terrorisme lorsque ces données sont relatives au demandeur. Aucune poursuite et aucune action en responsabilité civile ne peut être intentée ni aucune sanction professionnelle prononcée contre l’Emetteur, ses dirigeants ou ses préposés qui ont fait de bonne foi les déclarations de soupçon auprès de leur autorité nationale. 17. Protection des Données personnelles 15 L’Emetteur collecte et traite toute Donnée personnelle en conformité avec la réglementation en vigueur applicable à la protection de ces Données, et notamment avec la loi n°78-17 du 6 janvier 1978 modifiée et avec le Règlement européen 2016/679 du Parlement européen et du Conseil du 27 avril 2016. Les Données personnelles requises lors de la souscription sont nécessaires dans le cadre des services fournis conformément aux présentes. En cas d’absence de fourniture des Données personnelles obligatoires, le demandeur pourra se voir refuser l’accès aux services. La Personne concernée est informée que les Données personnelles sont notamment collectées pour les finalités suivantes : la fourniture des services fournis tels que décrits aux présentes ; la lutte contre le blanchiment de capitaux et le financement du terrorisme ; le traitement des demandes d’information et réclamations ; la réalisation de statistiques. Ces traitements sont notamment nécessaires à l’exécution du Contrat-cadre ainsi qu’au respect d'obligations légales auxquelles les responsables de traitement sont soumis. L’Emetteur et le Distributeur agissent en qualité de responsables conjoints de ces traitements. Les Données personnelles ne seront transmises à aucun tiers sans le consentement exprès des Personnes concernées. Toutefois, la Personne concernée est informée que les Données personnelles sont transmises à des sous-traitants de l’Emetteur, pour les besoins des finalités précitées. Lesdits sous-traitants n’agiront que sur instruction de l’Emetteur et exclusivement pour le compte de ces derniers. La Personne concernée peut accéder à la liste des sous-traitants en transmettant sa demande au Service client du Distributeur. Elle est informée que l’Emetteur s’assure que ses sous-traitants prennent toutes les mesures nécessaires afin de préserver la sécurité et la confidentialité des Données personnelles. En cas de survenance d’une violation de Données personnelles (perte, intrusion, destruction…) impliquant des risques élevés pour la Personne concernée, cette dernière en sera informée. L’Emetteur se réserve le droit de divulguer des Données personnelles sur requête d’une autorité légale pour se conformer à toute loi ou réglementation en vigueur, pour protéger ou défendre les droits du titulaire du Compte ou d’une Personne concernée, si des circonstances impérieuses le justifient ou pour protéger la sécurité du titulaire, des Services ou du public. Les Données personnelles traitées par l’Emetteur dans le cadre des services fournis conformément aux présentes sont conservées pendant la durée strictement nécessaire pour atteindre les finalités mentionnées ci-dessus. Sauf disposition contraire légale et réglementaire, les Données personnelles ne seront pas conservées au-delà de la date d’effet de la résiliation du Contrat. Il est notamment précisé que les Données personnelles relatives à l’identification sont conservées pendant une durée de cinq ans à compter de la fin de la relation contractuelle, en vertu de la réglementation applicable en matière de lutte contre le blanchiment de capitaux et le financement du terrorisme. Les Personnes concernées disposent des droits suivants sur leurs Données personnelles, selon les conditions prévues par la réglementation : droit d’accès, droit de rectification, droit d’opposition, droit à l’effacement, droit à la limitation du traitement et droit à la portabilité. Une Personne concernée peut à tout moment exercer ses droits en s’adressant au Service client du Distributeur. Sa demande devra indiquer ses nom, prénom, et identifiant, et être accompagnée de la photocopie d’un document d’identité portant sa signature. Une réponse sera adressée à la Personne concernée dans un délai d’un (1) mois suivant la réception de sa demande. Ce délai pourra être prolongé de deux (2) mois, compte tenu de la complexité et du nombre de demandes. Dans ce cas, la Personne concernée sera informée de la prolongation et des motifs du report dans un délai d'un (1) mois à compter de la réception de la demande. La Personne concernée est informée qu’elle dispose du droit d’introduire une réclamation auprès de l’autorité compétente pour toute demande en lien avec ses Données personnelles. Si la Personne concernée présente sa demande sous une forme électronique, la réponse lui sera fournie par voie électronique, à moins qu’elle ne demande expressément qu'il en soit autrement. 16 Lorsque les Données personnelles sont relatives à une Personne concernée n’étant pas partie au Contratcadre et ont été transmises par l’Utilisateur, ce dernier fait son affaire de communiquer à la Personne concernée les informations du présent article. Des informations complémentaires sur les traitements de Données personnelles réalisés dans le cadre des présentes, les durées de conservation et sur les droits des Personnes concernées sont disponibles dans la politique de confidentialité du de l’Emetteur (accessible sur le site www.mangopay.com). 18. Secret professionnel L’Emetteur est tenu au secret professionnel. Toutefois, ce secret peut être levé, conformément à la législation en vigueur, en vertu d’une obligation légale règlementaire et prudentielle, notamment à la demande des autorités de tutelle, de l’administration fiscale ou douanière, ainsi qu’à celle du juge pénal ou en cas de réquisition judiciaire notifiée au Distributeur. Nonobstant ce qui précède, l’Utilisateur a la faculté de relever le Distributeur du secret professionnel en lui indiquant expressément les tiers autorisés à recevoir des informations confidentielles le concernant. Il est précisé que le secret professionnel pourra être levé par l’effet de la réglementation au profit des sociétés fournissant au Distributeur des taches opérationnelles importantes dans le cadre des présentes. 19. Propriété intellectuelle L’Emetteur conserve l’entière propriété des titres et droit de propriété quels qu’ils soient attachés aux Services proposés à l’Utilisateur. Aucun de ces droits de propriété n’est transféré à l’Utilisateur au titre des présentes. 20. Décès de l’Utilisateur et Comptes inactifs 20.1. Décès de l’Utilisateur Le décès de l’Utilisateur met fin au Contrat-Cadre, dès que celui-ci est porté à la connaissance de l’Emetteur. Les Opérations intervenant à compter du décès sont, sauf accord des ayants droit ou du notaire en charge de la succession, considérées comme n’ayant pas été autorisées. Le Compte d’unité de Monnaie Electronique reste ouvert le temps nécessaire au règlement de la succession et le Distributeur/l’Emetteur assure le règlement du solde avec l’accord des ayants droit ou du notaire en charge de la succession. 20.2. Comptes inactifs Tout Compte d’unité de Monnaie Electronique inactif pourra faire l’objet d’une notification d’inactivité par e-mail de la part du Distributeur, suivie d’une relance un (1) mois plus tard. Le Compte de l’Utilisateur est considéré comme inactif lorsqu’à l’issue d’une période de douze (12) mois, il n’a fait l’objet d’aucune opération (hors prélèvement de frais de gestion) à l’initiative de l’Utilisateur (ou de tout mandataire) et qu’il ne s’est pas manifesté auprès du Distributeur sous quelque forme que ce soit. En l’absence de réponse ou d’utilisation de la Monnaie Electronique disponible dans ce délai, le Compte sera clôturé et maintenu à la seule fin de procéder au Remboursement de la Monnaie électronique. Des frais de gestion pourront être perçus par l’Emetteur. Le Compte ne pourra plus donner lieu à l’utilisation ultérieure de la Monnaie Electronique. 21. Force majeure Les Parties ne seront pas tenues pour responsables, ou considérées comme ayant failli au titre des présentes, en cas de retard ou inexécution, lorsque leur cause est liée à la force majeure telle que définie par l’article 1218 du Code civil. 22. Indépendance des stipulations contractuelles 17 Si l'une quelconque des stipulations des présentes est tenue pour nulle ou sans objet, elle sera réputée non écrite et n'entraînera pas la nullité des autres stipulations. Si une ou plusieurs stipulations des présentes deviennent caduques ou sont déclarées comme telles en application d'une loi, d'un règlement ou à la suite d'une décision définitive rendue par une juridiction compétente, les autres stipulations conserveront leur force obligatoire et leur portée. Les stipulations déclarées nulles et non valides seront alors remplacées par les stipulations qui se rapprocheront le plus quant à leur sens et à leur portée des stipulations initialement convenues. 23. Protection des fonds collectés Les fonds de l’Utilisateur sont déposés à chaque fin de Jour Ouvrable dans un compte ouvert auprès d’une Banque et sont cantonnés par celle-ci. Aux termes de l’article 24-10 (1) a) de la Loi du 20 mai 2011 publiée au Mémorial A n° 104 du 24 mai 2011 du Grand-Duché du Luxembourg et de l’article 14 de la loi du 10 novembre 2009 publiée au Mémorial A n° 215 du 11 novembre 2009 du Grand-Duché du Luxembourg, portant transposition de la directive 2009/110/CE du Parlement européen et du Conseil du 16 septembre 2009 concernant l’accès à l’activité des établissements de monnaie électronique, les fonds collectés sont protégés et ne tombent pas dans la masse des avoirs de l’établissement de monnaie électronique en cas de liquidation, de faillite ou de toute autre situation de concours de ce dernier. 24. Incessibilité Le Contrat-cadre ne peut faire l'objet d'une cession totale ou partielle par l’Utilisateur, à titre onéreux ou gratuit. Il est par suite interdit de céder à un tiers l'un quelconque des droits ou obligations qu’il tient des présentes. En cas de manquement à cette interdiction, outre la résiliation immédiate des présentes, sa responsabilité pourra être engagée par l’Emetteur. 25. Convention de preuve Toutes les données reprises de façon inaltérable, fiable, et sécurisée dans la base de données informatique de l’Emetteur relatives notamment aux ordres de paiement et confirmations reçues de l’Utilisateur, aux notifications envoyées, aux accès, Retrait, Remboursement feront foi entre les parties jusqu’à preuve du contraire. 26. Réclamation et médiation L’Utilisateur est invité à s’adresser au Service client du Distributeur, éventuellement indiqué sur le Site pour toute réclamation. Toute réclamation autre que celle prévue à l’article 8 portant sur la conclusion, l’exécution ou la résiliation du Contrat-cadre et des services d’émission et de gestion de Monnaie électronique devra être notifiée par email à l’adresse suivante : legal@mangopay.com. L’Utilisateur accepte que l’Emetteur réponde à ses réclamations sur un Support durable. La réponse sera transmise dans les meilleurs délais et au plus tard dans un délai de quinze (15) Jours Ouvrables suivant la réception de la réclamation par l’Emetteur. Cependant, pour des raisons échappant à son contrôle, l’Emetteur pourra se trouver dans l’impossibilité de répondre dans ce délai de quinze (15) jours. Dans ce cas, il communiquera à l’Utilisateur une réponse précisant les raisons de ce délai supplémentaire ainsi que la date à laquelle il enverra la réponse définitive. En tout état de cause, l’Utilisateur recevra une réponse définitive au plus tard dans un délai de trente-cinq (35) Jours Ouvrables suivant la réception de la réclamation. L’Utilisateur est informé que la CSSF (Commission de Surveillance du Secteur financier) est compétente pour régler sur une base extrajudiciaire les litiges relatifs à l’exécution du présent Contrat-Cadre. Pour plus d’informations sur la CSSF et sur les conditions d’un tel recours, l’Utilisateur peut s’adresser au Service 18 client du Distributeur ou consulter le site internet de la CSFF (http://www.cssf.lu). Les demandes de médiation doivent être adressées à Monsieur le Médiateur de la Commission de Surveillance du Secteur Financier (CSSF), 283 route d’Arlon, L-1150 Luxembourg, (direction@cssf.lu) et ce, sans préjudice des autres voies d’actions légales. Cependant, le médiateur ne peut être saisi, si la demande est manifestement infondée ou abusive, si le litige a été précédemment examiné ou est en cours d'examen par un autre médiateur ou par un tribunal, si la demande auprès du médiateur est introduite dans un délai supérieur à un an à compter de la réclamation écrite auprès du professionnel, si le litige n'entre pas dans le champ de compétence du médiateur. 27. Langue – Droit applicable et juridiction compétente Sauf en cas d'application d'une loi d’ordre public (laquelle ne s'appliquera que dans les strictes limites de son objet), il est expressément stipulé que l’anglaisest la langue choisie et utilisée par les Parties dans leurs relations précontractuelles et contractuelles, et que le Contrat-cadre est soumis à la loi française et que tout litige entre les Parties au titre de ce dernier sera soumis à la juridiction des tribunaux français compétents.