General Terms of Service

Updated: April 6, 2025

1. Welcome

These Terms set out the legal agreement between you and Payloo Ltd. If you do not agree, do not use the service. Availability may vary by region.

2. Our Service

Payloo provides an app and website to buy, sell, and manage supported currencies and cryptoassets. This does not constitute financial advice.

3. Who We Are

Payloo Ltd is registered in Armenia at 16 Yekmalyan Street, Yerevan 0002. We offer currency and crypto services under applicable regulations.

4. Our Licensing

Crypto services may be unregulated in some areas, but we follow AML obligations in Armenia and beyond.

5. Your Payloo Profile

• Register with email and password
• Enable 2-factor authentication
• Use strong and secure login credentials

6. Cryptoasset and Reward Programmes

Rewards and promotions may have additional terms. Refer-a-Friend and similar programs apply separately.

7. Storage Fee and Promotional Token Clawback

• No activity for 9–18 months may result in fees
• Traditional currency: AMD 5,500/month
• Crypto: 0.20% or AMD 5,500/month
• Dormant 18+ months: additional fees apply
• Promotional tokens expire after 30 days
• Unspent tokens: 25% clawback monthly for 4 months

8. Security

• Use strong password and enable 2FA
• Keep PINs and login info secure
• Log out when not in use
• Report theft or unauthorized access immediately

9. Information About You

Your data is protected under our Privacy Policy.

10. Eligibility

• Must be 18+ and in a supported country
• Only one personal account allowed
• Identity verification required

11. AML/KYC Verification

• Government-issued ID and proof of address may be required
• Failure to comply results in denial of service

12. Restrictions on Using Payloo

• No illegal, speculative, or fraudulent use
• No negative balances or infrastructure abuse
• No use for prohibited countries or articles

13. Payloo Remedies

• We may limit, suspend, or close your account
• We may notify third parties or reverse transactions

14. ‘Open Banking’

• Authorize Third Party Providers (TPPs) to access accounts
• We may block access if necessary

15. Account Closure

You may close your account if no investigation is ongoing and your balance is zero.

16. Account Suspension and Termination by Payloo

• Immediate termination for harmful breaches
• Suspension for compliance or investigation

17. Notice and Communications

We contact you via the app or registered email. Keep your details up to date and monitor transaction history.

18. Customer Support

Email: [email protected] or use the in-app Help Center. AI-powered assistants may respond initially.

19. Unresolved Complaints

We will respond within 15 business days or 35 in exceptional cases.

20. Intellectual Property

All content is owned by Payloo Ltd. You may not reuse it without permission. Terms grant only a non-transferable right to use the service.

21. Amendments to These Terms

We may amend the Terms with 2 months’ notice. Continued use implies acceptance. Immediate changes may occur for legal reasons.

22. Our Responsibility to You

We are not liable for third-party products. The service is provided “as is.” Liability is limited to payments made in the past 12 months.

23. Our Right to Set-Off

If you owe us money, we may recover it from your balance or assets, converting as needed.

24. Your Responsibilities

• Pay all charges even after account closure
• Comply with local laws and taxes
• Back up your data

25. Accessing a Deceased’s Account

Contact [email protected] with documents like a death certificate to access a deceased user's account.

26. No Investment Advice

We do not provide investment advice. Do your own research or consult a financial advisor.

27. Governing Law and Dispute Resolution

Armenian law applies. Disputes are subject to Armenian courts. Raise complaints with us first.

28. Miscellaneous

• No third-party rights except as stated
• You may not assign rights
• Non-enforcement is not a waiver
• Invalid clauses do not affect the rest

Prohibited Articles and Transactions

• Narcotics or drug paraphernalia
• Stolen goods or illegal activities
• Promotion of hate or violence
• Obscene content
• IP-infringing items
• Firearms or weapons
• Lotteries, offshore banking, etc.
• Presale items
• Payment collection services
• Traveler’s checks, money transfers
• Credit/debt services
• Bribery or corruption
• Gambling, direct marketing, timeshares
• Massage parlors, certain chemicals

Prohibited Countries

• Afghanistan
• North Korea
• Congo
• Eritrea
• Libya
• Somalia
• South Sudan
• Sudan
• Yemen
• Iran
• Iraq
• Cuba
• Syria
• Mali
• Central African Republic
• Guinea-Bissau
• Lebanon
• Other sanctioned countries under UN or Armenian law