General Terms of Service

Last updated: January 27, 2026

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1. Welcome

Welcome to the Payloo General Terms of Service. These terms, combined with our Pricing Page, Issuer Terms (where applicable), and any other documents referred to herein (collectively, the "Terms"), set out the legal agreement between:

You, as the Payloo user; and

Payloo Ltd, identified in clause 3 below (or "we", "our", or "us").

Please read this document carefully to understand how your account and our services work. If you do not agree to these Terms, do not sign up for or use our services. Users in certain regions may have different Terms applicable to them.

2. Our Service

Payloo operates a platform accessible through the Payloo application, available for download on your mobile device (the "App"), and our website at www.payloo.com, that allows you to buy, sell, and manage supported currencies and cryptoassets, as well as apply for, manage, and load money onto a Payloo payment card (the "Payloo Service").

The information provided through the Payloo Service is not intended to be and does not constitute financial advice or any other advice. It is general in nature, not specific to you, and is not an offer, solicitation, recommendation, endorsement, or sponsorship of any security, product, service, or investment. You should assess whether your financial situation and risk tolerance are suitable for transactions using the Payloo Service and conduct your own research before proceeding.

3. Who We Are

Payloo Ltd provides services to you under these Terms. We are a company registered in Armenia with our registered address at 16 Yekmalyan Street, Belize City, Belize. Payloo Ltd offers both traditional currency and cryptocurrency services, subject to applicable regulations in Armenia and other jurisdictions where we operate.

4. Our Licensing

Cryptocurrency services may be unregulated in some jurisdictions, though we fulfill important financial crime prevention and anti-money laundering obligations when providing services to you, in compliance with Armenian and international standards where applicable.

5. Your Payloo Profile

To use the Payloo Service, you must register using your email, set up an account with a password, and verify your identity (your "Payloo Profile"). We recommend using a strong password with a combination of letters, numbers, and special characters. You must enable 2-factor authentication to access your Payloo Profile. Refer to the security section below for steps to protect your Payloo Profile.

6. Cryptoasset and Reward Programmes

Purchases and sales of cryptoassets through the Payloo Service are subject to additional terms provided below. We may offer rewards or promotional programs, such as Refer-a-Friend, subject to separate terms communicated to you.

7. Storage Fee and Promotional Token Clawback

If you do not transact using the Payloo Service for nine (9) to 18 months (e.g., withdrawal, deposit, exchange, or transfer), we'll charge a storage fee for maintaining your balances. We'll provide 30 days' email notice before charging. The fee applies only if you have balances; no fee applies to zero-balance accounts.

Traditional Currency Balances: Charged at AMD 5,500 per month per balance at the prevailing exchange rate.

Crypto Balances: Charged at 0.20% of account balance monthly, or a minimum of AMD 5,500 per month.

For accounts dormant 18 months or longer:

Traditional Currency: AMD 2,500 per month per balance.

Crypto Balances: 0.003 BTC or equivalent per cryptoasset account per day. Crypto balances may be used in pooled liquidity accounts but remain yours; transacting reactivates your account.

Promotional tokens earned from Payloo Promotions ("Promotional Tokens") must be spent within 30 days of deposit (Token Expiry Date). Unspent tokens incur a 25% clawback of the starting balance monthly for four months post-expiry. You are responsible for tracking the Token Expiry Date. "Payloo Promotions" include competitions or promotions run by us or partners offering token rewards. Spend Promotional Tokens by exchanging them for other cryptocurrencies/stablecoins or upgrading your subscription plan.

8. Security

Keeping your Payloo Profile secure is critical. You are responsible for all transactions initiated through your profile, and unauthorized use may have financial consequences. To secure your profile:

  • Use a strong password;
  • Keep your phone password-protected;
  • Enable 2-factor authentication;
  • Safeguard your Payloo Card PIN and other codes;
  • Close the App when not in use;
  • Log out of the website when finished;
  • Regularly update passwords and keep them confidential;
  • Secure your email account.

If your phone, Payloo Card, or login details are lost, stolen, or accessed without authorization, contact us immediately via [email protected] or the in-app Help Center. We are not liable for losses from unauthorized email access.

9. Information About You

Protecting your personal data is a priority. Our handling of your data is detailed in our Privacy Policy.

10. Eligibility

To create a Payloo Profile, you must:

  • Be 18 or older and reside in a country where Payloo is available (check in-app);
  • Be an individual, not a business;
  • Open only one account and not have a previously blocked/closed account;
  • Verify your identity and pass required checks (e.g., AML/KYC).

11. AML/KYC Verification

We rigorously enforce anti-money laundering (AML) and know-your-customer (KYC) policies, monitoring for suspicious activity. You must provide valid government-issued ID and, if requested, proof of address (issued within six months). Failure to verify identity/documents or appearing on sanctions lists will result in refusal of a Payloo Profile. Pre-January 10, 2020, account holders must verify to continue using the service; contact [email protected] for assistance.

12. Restrictions on Using Payloo

You must not use the Payloo Service for:

  • Illegal purposes (e.g., fraud, money laundering);
  • Debt collection;
  • Circumventing merchant restrictions;
  • Speculative trading or price manipulation;
  • Actions causing complaints, chargebacks, or liability to Payloo/users;
  • Cash advances from credit cards;
  • Negative balances;
  • Overloading infrastructure or introducing malware;
  • Interfering with services or third-party providers;
  • Testing card behaviors;
  • Circumventing policies;
  • Automated trading/scripts;
  • Crowdfunding purposes;
  • Harassing staff/users;
  • FX arbitrage;
  • Prohibited Articles/Transactions or Prohibited Countries (defined below).

13. Payloo Remedies

If you breach these Terms, we may:

  • Close, suspend, or limit your Payloo Profile, Multicurrency Account, or Card;
  • Notify third parties (e.g., banks, law enforcement);
  • Refuse or reverse transactions;
  • Pursue legal action.

14. 'Open Banking'

Payloo may act as an Account Servicing Payment Service Provider (ASPSP), providing an open banking interface for third-party providers to initiate payments or access account information, subject to Armenian regulations. Open banking lets you view accounts and initiate payments via authorized Third Party Providers (TPPs). Before using TPPs:

  • Verify their regulatory authorization;
  • Authorize them to access your Payloo account.

These Terms apply regardless of access method. We may block TPP access for fraud or regulatory reasons, lifting blocks upon compliance evidence. You can also block TPP access by contacting us if unauthorized activity is suspected. Data sharing is outlined in our Privacy Policy.

15. Account Closure

You may close your Payloo Profile and Multicurrency Account by contacting [email protected], provided no investigations are ongoing and your balance is zero. Withdraw/transfer funds first. Payloo may close accounts per clause 16, notifying you of non-zero balances with 14 days to act. If no action is taken, the account remains open; with consent, funds may be forfeited, and the account closed. Your legal rights remain intact.

16. Account Suspension and Termination by Payloo

We may terminate your Payloo Service immediately if:

  • You breach Terms in a harmful way;
  • You provide false/fraudulent information;
  • Legal/regulatory orders require it;
  • You are bankrupt or deceased.

We may suspend your service:

  • For legal/regulatory compliance;
  • During investigations of breaches/suspicious activity if continued access risks harm or legal breach.

We'll notify you of suspension/termination unless prohibited by law. No fees apply during suspension. We may also terminate with 2 months' notice.

17. Notice and Communications

We'll contact you via the Payloo Service or your registered email. Keep your email updated and check your transaction history regularly, reporting errors promptly. Communications will be in English.

18. Customer Support

For assistance or complaints, contact [email protected] or use the in-app Help Center. We aim to resolve inquiries within two weeks. Copies of these Terms are available on request or at www.payloo.com. Payloo uses AI-powered assistants to enhance support, generating initial responses from our knowledge base. These responses provide fast, accurate information but are not financial/legal advice. Users may request human agents. AI responses do not process/store personal data, and users acknowledge their automated nature.

19. Unresolved Complaints

We'll respond to complaints within 15 business days, or within 35 business days in exceptional cases after acknowledgment, due to unforeseen circumstances.

20. Intellectual Property

All rights in the Payloo Service, content, and logos are owned/licensed by Payloo Ltd. You may not copy or use them without prior written consent. These Terms grant only a personal, non-transferable right to use the Payloo Service and App, not ownership of intellectual property.

21. Amendments to These Terms

We may amend Terms with 2 months' notice via the App/website. If you disagree, stop using the service before changes take effect; continued use implies acceptance. Immediate changes may occur for legal compliance or minor adjustments, with prompt notification.

22. Our Responsibility to You

The Payloo Service includes third-party products/services/content beyond our control; we are not responsible for them. We strive for satisfactory standards and availability but cannot guarantee uninterrupted service due to external factors. The service is provided "as is" and "as available," with no implied warranties. Our liability is limited to amounts paid by you in the prior 12 months, excluding unforeseeable losses or those due to your breach.

23. Our Right to Set-Off

If you owe us money (e.g., due to errors, negative balances, or Terms violations), we may recover it from your Payloo Multicurrency Account or cryptoassets, converting currencies/assets as needed at prevailing rates.

24. Your Responsibilities

You are responsible for:

  • All charges incurred through the Payloo Service, including post-closure;
  • Compliance with applicable laws (e.g., taxes);
  • Backing up data accessible via your profile. We are not liable for data loss upon termination/suspension.

25. Accessing a Deceased's Account

To access a deceased's Payloo Profile, contact [email protected] with supporting documents (e.g., death certificate, probate).

26. No Investment Advice

We do not provide investment advice. Information on currencies/cryptoassets is not advice; consult a financial advisor for guidance. You are responsible for your financial decisions.

27. Governing Law and Dispute Resolution

Armenian law governs these Terms and disputes. Armenian courts have exclusive jurisdiction. Raise complaints with us (per Section 19) before escalating to court.

28. Miscellaneous

No third-party rights are created except as noted. You cannot assign rights; we may with notice. Non-enforcement is not a waiver. Invalid provisions do not affect others.

Prohibited Articles and Transactions

Includes:

  • Narcotics/drug paraphernalia
  • Stolen goods/illegal activities
  • Hate/violence promotion
  • Obscene items
  • IP-infringing items
  • Firearms/weapons
  • Annuities/lottery/offshore banking
  • Pre-sale items
  • Payment collection services
  • Traveler's checks/money transfers
  • Credit/debt services
  • Bribery
  • Gambling
  • Direct marketing
  • Massage parlors
  • Timeshares
  • 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, or any country/person sanctioned by the UN or Armenian law.