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Privacy Policy - Alvest Capital Limited
Effective Date: 03-April-2025 – REV01
This Privacy Policy (the “Policy”) explains how Alvest Capital Limited, trading as Zaya (referred to as “we”,“our”, or “us”), collects, uses, stores, shares, and protects your personal data when you access and use our website, mobile applications, and services (collectively, “Resources”). This Policy is designed to meet the requirements of the General Data Protection Regulation (GDPR), the Data Protection Act 2018, and other applicable data protection laws in the UK and the European Economic Area (EEA).
Alvest Capital Limited operates as an authorised PSD agent for TransferPay, a payment services provider regulated by the Financial Conduct Authority (FCA). This Policy applies to all personal data collected in the course of providing our payment services, including money transfers, account management, financial products, and related services offered under the Zaya trading name.
Please read this Policy carefully to understand how we process your personal data. By using the Resources, you acknowledge that you have read, understood, and consent to the practices described in this Policy.
Alvest Capital Limited, trading as Zaya, is a financial services provider based in the UK. We operate as an authorised PSD agent for TransferPay, a payment services provider that is authorised by the Financial Conduct Authority (FCA). As an agent of TransferPay, we provide money transfer and payment services, which include account management, financial transactions, and digital payment processing.
Our services are global in nature, and we offer these services across various jurisdictions, which may include countries within the UK, the EEA, and other territories. As part of the services, we may collect, store, and process personal data related to the users of our Resources, including our website and mobile application.
We are committed to ensuring that all personal data we process is handled with the highest level of care,transparency, and in compliance with relevant data protection laws. As a PSD agent, we comply with the regulatory requirements for Anti-Money Laundering (AML), Know Your Customer (KYC), and other financial regulations governing the processing of financial transactions.
The personal data we collect depends on your interaction with us, the services you use, and your relation-ship with our platform. When you use our services, we may collect, process, and store the following types of personal data:
+Personal Identification Information: This includes your full name, date of birth, nationality, email address,physical address, phone number, and other demographic information. This is required to create an account,process transactions, and ensure compliance with KYC regulations.
+Supplemental Identification Information: To verify your identity as part of KYC and AML obligations, we may request government-issued identity documents such as a passport, national ID card, or driver’s licence. We may also collect your taxpayer identification number, national insurance number (if applicable), and other forms of verification. In some instances, we may need to capture utility bills, bank statements, or government records to verify your address and establish your identity.
+Financial Information: For the purposes of financial transactions, we may collect bank account details, pay-ment card numbers, account statements, income information, and other financial records. This information is critical for processing payments and providing financial services to you, as well as for ensuring compliance with financial regulations.
+Transactional Data: This includes data about the payments you make or receive through our services, includ-ing transaction amounts, payment methods, recipients, timestamps, and transaction references. This data is collected for operational purposes, such as ensuring accurate processing, reporting, and fraud prevention.
+Behavioral and Usage Data: We collect technical data related to how you interact with our website or mobile application. This includes the pages you visit, the actions you take (such as links clicked), and other data points that help us understand user behaviour. This data may also include device information such as device type,IP address, browser type, software version, operating system, and device identifiers, which are necessary for analytics, improving user experience, and troubleshooting issues.
+Location Data: If you grant permission, we may collect geolocation data from your device to provide loca-tion-based services. This data may include information such as your GPS coordinates or the location of your device when using certain features, such as finding a nearby agent for transactions. We use this data for compliance with jurisdictional requirements, as well as for offering you services in line with your location.
+Facial Recognition Data: As part of our identity verification process, we may use facial recognition technol-ogy to capture images of your face in real-time. This data is processed to verify that the person creating the account or conducting a transaction matches the identity documents provided. This is essential for preventing fraud and ensuring compliance with regulatory requirements.
+Communication Data: All communications between you and us, including messages, emails, customer support interactions, and any feedback you provide, are collected. This data helps us resolve your queries and improve the services we offer.
+Beneficiary Information: If you are sending money through our services, we may collect personal information about the beneficiaries to whom you wish to send funds. This includes details such as the recipient’s name,account number, and other required details to process the transaction.
+Third-Party Data: We may collect additional personal data from third-party sources, including credit reference agencies, fraud detection services, and other verification agencies, to help us perform due diligence checks, verify your identity, and ensure the security and legitimacy of the transactions.
We collect personal data through a variety of methods depending on your engagement with our services:
+Directly from You:When you register for an account, complete a transaction, or contact customer support,you provide us with the personal data necessary for us to fulfill the requested services.
+Through Website and Application Interactions:As you interact with our website or mobile applications,we collect technical data such as cookies and log data, which provide us with insights into how you use our services. This helps us improve user experience, manage our platform, and perform necessary diagnostics.
+Third-Party Service Providers:We may obtain data from third-party sources such as credit reference agencies, fraud prevention agencies, KYC providers, and other partners involved in identity verification or financial checks. This information helps us meet AML and KYC requirements.
+Customer Support and Communication:If you contact us via email, phone, or other communication channels, we collect and store the data you provide during these interactions to resolve any issues or requests.
+Location Data:With your consent, we collect location data to provide specific services based on your geographical location, such as finding agents or offering jurisdiction-specific services.
We process your personal data for various purposes, which are necessary for providing our services, ensuring compliance with legal obligations, and improving our platform. The key purposes for which we use your personal data include:
+Identity Verification and Compliance: As a PSD agent of TransferPay, we are obligated to process your personal data to verify your identity and prevent fraud. We use your data to comply with KYC, AML, and other regulatory requirements. This includes checking against fraud detection databases, verifying documents, and monitoring transactions for suspicious activity.
+Customer Support and Communication: We use your personal data to assist you with inquiries, provide support, and resolve any issues you may have with our services. We also use your contact information to communicate important service updates, terms, and security notices.
+Fraud Prevention and Security: Your data is used to monitor and detect fraudulent transactions, protect our services from abuse, and ensure that our platform remains secure. This includes using personal data for fraud prevention systems, monitoring patterns of activity, and enforcing security measures to safeguard users and financial transactions.
+Research, Development, and Marketing: We use your data to conduct research, improve our services, and develop new products. We may also use your data for marketing purposes, provided that you have consented to such communications. This includes sending promotional materials or tailored offers. You can opt out of marketing communications at any time.
+Legal Obligations and Regulatory Compliance: We process your data to meet legal obligations, such as tax reporting, compliance with financial regulations, and responding to law enforcement or regulatory authorities.We also use your data to maintain records necessary for compliance with legal, accounting, and auditing requirements.
+Enhancing User Experience:We analyse data about how you interact with our platform in order to improve the user experience, optimize our services, and make the platform more user-friendly and efficient. This includes conducting user research, improving features, and personalising your experience on the platform.
Your personal data may be shared with third parties under specific circumstances, all of which are described below. When we share personal data with third parties, we ensure that they are bound by appropriate contractual obligations and comply with relevant data protection laws to protect your data.
+Service Providers and Partners: We may share your personal data with third-party service providers who support our business operations and help us deliver our services to you. These service providers may include, but are not limited to, payment processors, IT service providers, data hosting services, cloud service providers,
fraud detection agencies, identity verification services, marketing partners, and customer support vendors. These third parties are carefully selected and are contractually bound to protect your data in accordance with this Privacy Policy and relevant legal frameworks. We ensure that third-party service providers only use your personal data for the specific purposes for which it was disclosed and that they do not use it for their own purposes.
+Regulatory Authorities and Law Enforcement: In order to comply with legal and regulatory obligations, we may disclose your personal data to regulatory authorities, law enforcement agencies, or government entities. This disclosure is done as required under laws governing Anti-Money Laundering (AML), Know Your Customer (KYC) regulations, tax reporting obligations, and other financial regulations. Such sharing of personal data may be necessary to assist law enforcement investigations or to comply with judicial orders or subpoenas. We are legally obligated to share data with authorities when required by applicable law, including in response to government inquiries or regulatory audits.
+Business Transactions: In the event of a merger, acquisition, sale of assets, or any business reorganisation, your personal data may be transferred as part of the transaction. We will inform you of such a transfer, and we will ensure that your data continues to be protected under this Privacy Policy. The transferee will be obligated to respect your data privacy rights and continue processing your data in accordance with applicable data protection laws. If the transaction results in a change of control, we will update our Privacy Policy as required, and you will be informed of any changes to how your data is processed.
+Fraud Prevention and Risk Management: To protect the integrity of our services and maintain a secure environment for our users, we may share your personal data with fraud prevention agencies, credit reference agencies, or financial institutions. This sharing of data is vital for monitoring for fraud, identifying suspicious transactions, and ensuring that all financial transactions are legitimate. The use of this data for fraud prevention is in line with our legal obligations and legitimate interests in protecting both our customers and the integrity of our platform.
We take the protection of your personal data seriously and have implemented robust technical and organisational measures to safeguard it from unauthorised access, alteration, disclosure, or destruction. We continuously assess the effectiveness of these measures to ensure your data is protected.
+Data Encryption:We utilise encryption technologies to ensure the confidentiality of sensitive personal data.When data is transmitted across the internet or stored on our servers, it is encrypted using industry-standard encryption protocols (such as TLS for data in transit). This ensures that even if data is intercepted during transmission, it cannot be read or used by unauthorised individuals.
+Access Control:Access to your personal data is restricted to authorised personnel within our organisation who require it to perform their job functions. We have implemented strict access control measures, including role-based access controls (RBAC) and multi-factor authentication (MFA), to ensure that only those employees with the necessary clearance can access your personal data. We regularly review and update access privileges to ensure data security is maintained.
+Secure Storage:Your personal data is stored in secure data centres that meet industry standards for physical and electronic security. These data centres are protected by firewalls, intrusion detection systems, and other security technologies to prevent unauthorised access. We also ensure that our data storage solutions comply with applicable data protection laws and best practices for security.
+Regular Security Audits and Monitoring:We conduct regular security audits and penetration testing to identify potential vulnerabilities in our systems. Our internal monitoring systems track and log all access to personal data, ensuring that any suspicious or unauthorised access is flagged and investigated promptly. We also maintain an incident response plan to address and mitigate any potential data security breaches.
We will retain your personal data for as long as it is necessary to fulfil the purposes for which it was collected,or as required by applicable law, including legal, regulatory, and tax requirements. The retention period may vary depending on the type of data, the nature of the service provided, and our legal obligations. We are committed to ensuring that your personal data is not retained for longer than necessary.
+Retention for Legal, Regulatory, and Business Purposes: Certain types of personal data must be retained for a specified period in order to comply with legal, regulatory, and financial obligations. For example, we are required by Anti-Money Laundering (AML) laws to retain transaction records for a minimum of five years after the transaction. Similarly, tax and financial regulations may require us to keep records for up to seven years. We will retain your data for these periods or longer if necessary to comply with legal obligations.
+Retention for Fraud Prevention and Risk Management: We may retain certain personal data for a longer period if it is necessary for fraud prevention, risk management, or to protect against legal claims. This may include data related to accounts that have been flagged for suspicious activity or accounts that have been closed due to fraud-related concerns.
+Data Deletion and Anonymisation: Once the data is no longer necessary for the purposes outlined in this Policy, we will securely delete or anonymise your personal data. Anonymised data may be retained for analytical purposes or research but will not be identifiable to any individual.
As a data subject, you are entitled to exercise certain rights under applicable data protection laws. These rights are designed to give you more control over your personal data. You have the right to:
+Right to Access:You have the right to request access to the personal data we hold about you. This allows you to confirm the details we have collected, the purposes for processing, and the recipients of your personal data. You may also request a copy of the personal data we hold, which will be provided to you free of charge, unless the request is manifestly unfounded or excessive.
+Right to Rectification:If any of the personal data we hold about you is incorrect or incomplete, you have the right to request that we correct or complete it. We will act upon your request without undue delay.
+Right to Erasure:In certain circumstances, you have the right to request the deletion of your personal data. This is often referred to as the “right to be forgotten.” However, this right is subject to certain limitations, particularly when the data is necessary for the performance of a contract or to comply with legal obligations.
+Right to Restrict Processing:You can request that we restrict the processing of your personal data in certain situations, such as when you contest the accuracy of the data or when processing is unlawful, but you request restriction instead of erasure.
+Right to Data Portability:You have the right to request that we transfer your personal data to another service provider in a structured, commonly used, and machine-readable format. This right is applicable where the processing is based on your consent or contractual necessity and is done by automated means.
+Right to Object:You have the right to object to the processing of your personal data, especially when the processing is carried out based on our legitimate interests, for direct marketing, or for profiling purposes. We will stop processing your data unless we have compelling legitimate grounds to continue. If you wish to exercise any of these rights, please contact us at the contact details provided in this Policy. We will respond to your request within the time frame required by applicable data protection laws.
Given the global nature of our business, your personal data may be transferred to countries outside the UK and the European Economic Area (EEA), including the United States, Canada, and other jurisdictions where our affiliates, service providers, or partners operate. Some of these countries may not have data protection laws that offer the same level of protection as the UK or the EEA.
To ensure that your data remains protected when transferred internationally, we implement appropriate safe guards. These safeguards may include the use of Standard Contractual Clauses (SCCs), Binding Corporate Rules (BCRs), or other mechanisms recognised by data protection authorities to protect your personal data during international transfers.
We take the protection of your personal data seriously, and we ensure that any third parties who receive your data are obligated to handle it in accordance with this Privacy Policy and relevant data protection laws.
If you have any questions, concerns, or requests regarding this Privacy Policy or how we handle your personal data, please contact our Data Protection Officer:
Email: info@zaya.co.uk
Terms and conditions - Alvest Capital Limited
1.1 General Overview
Welcome to Zaya, the payment services platform provided by Alvest Capital Limited (“we,” “us,” “our”), a company registered in England and Wales under company number 16263486. Zaya operates as a digital payment services agent on behalf of Jaudi, a trading name of TransferPay Ltd. TransferPay Ltd is a company authorized and regulated by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 (FCA reference number [Insert FCA Reference Number Here]). As an agent of Jaudi, we provide you with access to payment services that allow you to send, receive, and manage money electronically, along with other related services such as currency conversion and transaction management. This Agreement governs your use of the Zaya platform, including our website, mobile applications, and any other services or features we provide (“Services”). By using the Zaya platform and engaging in any transactions or services, you agree to comply with the terms and conditions set forth in this Agreement.
1.2 About Zaya
At Zaya, we aim to offer a seamless, secure, and efficient way to send, receive, and manage payments across borders and currencies. We provide a wide array of digital financial services designed to meet the needs of both individual users and businesses. These include, but are not limited to, facilitating domestic and international money transfers, currency exchanges, and digital wallet management. As part of our business model, Zaya acts as an intermediary between you, the user, and Jaudi. All financial transactions, including the processing and execution of payments, are conducted by Jaudi, a regulated entity under the FCA. Our role is strictly to enable access to these services and facilitate user interactions with Jaudi’s platforms. While Zaya helps facilitate the provision of these services, the final execution, approval, and processing of payments are carried out by Jaudi. By using Zaya, you understand that your transactions are subject to the terms and conditions of Jaudi, as well as the relevant regulations governing electronic money and payment services.
1.3 Agreement to Terms
By accessing and using Zaya’s platform and Services, you confirm that you have read, understood, and agreed to be bound by this Agreement, including any additional policies, amendments, or terms that may be introduced in the future. These Terms apply to all users of our Services, regardless of whether they are consumers, business entities, or partners. If you do not agree with these Terms and Conditions, you are prohibited from using the Services provided by Zaya. We strongly encourage you to review these Terms thoroughly before proceeding with the use of our
platform. If you are accessing or using Zaya on behalf of a company, organization, or other legal entity, you represent and warrant that you have the legal authority to bind that entity to these Terms. In such cases, “you” and “your” will refer to the entity you represent.
1.4 Modification of Terms
We reserve the right to update or modify these Terms at any time, at our sole discretion. When we update the Terms, we will post the revised version on our website and make it available via our mobile application. The updated Terms will become effective as soon as they are posted, unless otherwise stated. If there are significant changes to the Terms that affect your rights or obligations, we will make a reasonable effort to notify you. We may notify you via email, in-app notifications, or other communication channels that are part of our platform. Your continued use of Zaya’s Services after any such changes signifies your acceptance of the revised Terms. If you do not agree with the new Terms, you may terminate your relationship with Zaya by discontinuing your use of our Services and closing your account.
2.1 Scope of Services
At Zaya, we offer an expansive suite of payment services, acting as a payment services agent on behalf of Jaudi. Our services are designed to facilitate both domestic and international payments for individual consumers, businesses, and organizations. Through our platform, users gain access to a robust and flexible payment system that supports a wide range of financial transactions, all of which are securely managed. We ensure that our offerings are seamless, transparent, and user centric.
Our services include, but are not limited to, sending and receiving funds, currency exchange, management of digital wallets, and providing users with real-time tracking of their transaction histories and balances. Whether you are sending payments to family members overseas, managing funds for your business, or engaging in cross-border transactions, Zaya ensures that these processes are completed swiftly and securely.
In addition to the core payment functionalities, Zaya also provides users with tools to handle currency exchanges and manage funds across multiple digital wallets. Our platform is designed to cater to the diverse needs of our users, offering unparalleled flexibility for both personal and commercial use.
2.2 Payment Services
Our comprehensive payment services allow users to perform a variety of financial transactions with ease. These services are central to Zaya’s offering and facilitate the movement of funds both domestically and internationally, ensuring users have access to secure and efficient payment solutions.
Key services include:
Sending Funds: You can initiate money transfers to individuals or businesses domestically and internationally, using either your digital wallet or external payment accounts. These payments can be made in a wide range of currencies and are executed through the Zaya platform, which integrates with Jaudi for processing and settlement.
Receiving Funds: Users can receive funds directly into their Zaya digital wallet from a variety of sources,including other Zaya wallets, bank accounts, or international remittance services. This feature allows individuals and businesses to easily collect payments, either as a one-time transfer or recurring deposits, and manage their funds through a single platform.
Currency Conversion: One of the key features of Zaya is the ability to convert funds between different currencies. Our platform allows you to send money across borders, converting the currency in real-time based on the
prevailing exchange rates. Whether you’re transferring funds to another country or managing cross-currency payments, Zaya provides you with the ability to execute these transactions quickly and at competitive rates.
Wallet Management: Users are provided with access to multiple digital wallets within the Zaya platform. These wallets can store multiple currencies, providing you with the flexibility to hold and manage funds in various denominations. You can easily switch between wallets, track balances, and execute transactions from one unified platform.
Transaction Tracking: Zaya offers users real-time tracking of transactions and balances through the platform. This enables you to monitor the progress of your transfers, see the status of funds in your wallet, and view a detailed history of previous payments, currency conversions, and transfers. This transparency ensures that you remain informed at all stages of your transactions.
2.3 Role of Jaudi
Zaya serves as an intermediary agent, facilitating access to the comprehensive payment services provided by Jaudi, a trading name of TransferPay Ltd. While Zaya handles the user interface and ensures seamless interactions with our platform, all financial transactions are processed by Jaudi. This includes the authorization, settlement, and execution of payments, along with the management of your funds within the digital wallets provided. It is important to note that Jaudi is the entity responsible for the final settlement and processing of all financial transactions, including currency exchanges, and payment transfers. By using Zaya, users are agreeing to comply with Jaudi’s regulatory oversight, terms, and conditions. As a regulated financial entity under the oversight of the Financial Conduct Authority (FCA), Jaudi ensures that all financial services comply with applicable laws, including the Electronic Money Regulations 2011 and Payment Services Regulations 2017. This regulatory framework guarantees that transactions are secure, transparent, and conducted in accordance with best industry practices.
2.4 Regulatory Compliance
The payment services offered through Zaya are governed by strict compliance regulations to ensure that we meet the highest standards of financial integrity. The services provided are regulated by the Financial Conduct Authority (FCA), which ensures that Jaudi, as the licensed entity, adheres to all relevant financial laws and standards. These regulations cover a broad spectrum of operational requirements, including:
+Anti-Money Laundering (AML): To prevent money laundering and terrorist financing, we implement comprehensive AML policies that include robust identification verification processes, transaction monitoring, and reporting obligations. This helps us ensure that all transactions conducted on the Zaya platform are legitimate and do not facilitate illicit activities.
+Combating the Financing of Terrorism (CFT): In addition to AML, we adhere to the regulations designed to prevent and detect any attempts to finance terrorist activities. This includes conducting risk assessments, ensuring thorough background checks on users, and cooperating with relevant authorities as needed.
2.5 User Eligibility
In order to use Zaya’s Services, users must meet the following eligibility criteria, designed to ensure that our platform is used responsibly and in compliance with regulatory standards:
+Minimum Age Requirement: You must be at least 18 years of age to use our Services. If you are under the age of 18, you are not permitted to access or use our platform. This requirement is in place to ensure compliance with financial regulations and to protect minors from exposure to financial transactions.
+Know Your Customer (KYC) Compliance: As part of our regulatory obligations, we require all users to complete the Know Your Customer (KYC) verification process. This process involves submitting valid identification documents, such as a government-issued ID (e.g., passport or driver’s license) and proof of address (e.g., utility bill or bank statement). These documents help us verify your identity and comply with anti-money laundering and fraud prevention regulations.
+Geographic Availability: Our Services are available in specific jurisdictions where Zaya is authorized to operate. Before you can access and use our platform, you must reside in a country or region where our services are provided. This eligibility requirement ensures that Zaya complies with local regulations and provides services in accordance with international legal frameworks.
+Accurate Information: You are responsible for providing accurate, up-to-date, and truthful information during the registration and verification process. Failure to provide such information may result in limited access to our Services, delays in processing transactions, or the suspension of your account. By meeting these criteria, you confirm your eligibility to access and use the full range of payment services offered by Zaya and understand that your use of the platform must comply with all applicable laws, rules, and regulations.
As a user of Zaya’s platform, you are expected to adhere to a set of important responsibilities that ensure the integrity, security, and lawful use of our Services. By using our platform, you agree to the following terms and conditions. These obligations are essential to maintaining a safe and efficient environment for all users.
3.1 Accuracy of Information
When registering for or using Zaya’s Services, you agree to provide accurate, complete, and up-to-date information. This includes, but is not limited to, your:
+Personal Information: Your full legal name, date of birth, residential address, and other personally identifiable information.
+Contact Information: Email address, phone number, and any other means of communication that may be required for account notifications.
+Payment Information: Bank account details, credit or debit card numbers, and any other relevant financial data needed to process transactions. You acknowledge that all information provided to Zaya is critical to the functioning of the platform. It ensures that the platform can verify your identity (via the Know Your Customer (KYC) process), process payments accurately, and comply with applicable laws and regulations. Should any of your personal details change (such as a change of address or contact information), you must immediately update your account profile to reflect the most current and accurate information. Zaya is not responsible for any delays or issues that may arise due to outdated or incorrect information provided by you. Furthermore, you consent to Zaya and its authorized agents verifying your details through various means, including third-party services. Failure to provide accurate information or update your details as necessary could result in delays in processing transactions, suspension of account access, or even termination of your account.
3.2 Compliance with Laws
You are fully responsible for ensuring that your use of Zaya’s Services is in compliance with all applicable laws, regulations, and financial policies. These may include:
+Anti-Money Laundering (AML): You must ensure that your transactions comply with local and international anti-money laundering laws. This includes not using Zaya’s Services to facilitate any form of money laundering, including layering, integration, or the financing of illegal activities. You agree that Zaya may monitor, report, and freeze any accounts or transactions deemed suspicious under AML regulations.
+Countering the Financing of Terrorism (CFT): You must not use the Zaya platform for any activities related to the financing of terrorism, including any transfers of funds that may support terrorist organizations or activities. Zaya has an obligation to report suspicious activities to the relevant authorities and may cooperate with law enforcement agencies in preventing and investigating acts of terrorism.
+Taxation Laws: You are responsible for complying with the taxation laws of your jurisdiction, including reporting your earnings or financial activities related to transactions made through Zaya’s Services. Zaya will not withhold taxes on your behalf, and it is your responsibility to understand and fulfill your tax obligations. Failure to comply with tax laws could result in fines, penalties, or legal consequences, and Zaya assumes no liability for any such issues.
+International Sanctions and Restrictions: You must ensure that your use of the Services does not violate any international trade restrictions, sanctions, or embargoes imposed by your home country or other relevant authorities. This includes not sending or receiving payments involving individuals or entities from countries that are subject to sanctions. You acknowledge that Zaya may, at its discretion, suspend or terminate your access to its Services if we believe you are violating any of these laws or if there is a legal requirement to block or freeze your account.
3.3 Fraud and Misuse Prevention
Fraudulent activity, abuse of services, and unlawful conduct are strictly prohibited on the Zaya platform. You agree to use Zaya’s Services solely for lawful purposes and not engage in any activities that would constitute fraud or misuse, including but not limited to:
+Fraudulent Transactions: You must not use the platform to carry out or participate in any fraudulent activity, such as identity theft, phishing, or providing false or misleading information to us or third parties.
+Chargeback Fraud: If you initiate a payment that is later disputed or reversed (chargeback), you may be held liable for the losses incurred by Zaya or Jaudi due to the reversal.
+Money Laundering: You agree not to participate in any transactions designed to obscure the origin of illegal funds or to facilitate the transfer of illicit funds across borders.
+Impersonation or Unauthorized Access: You must not impersonate any person or entity, including Zaya staff or other users, nor attempt to gain unauthorized access to any account, computer systems, or networks related to Zaya or its Services. Zaya takes a zero-tolerance approach to fraud and will take swift action to prevent fraudulent activities. This includes but is not limited to:
+Freezing Accounts: If we suspect any fraudulent or suspicious activity, we may freeze your account and limit your access to funds.
+Suspending Services: In cases of serious misconduct or repeated fraudulent activity, Zaya reserves the right to suspend or permanently terminate your access to the platform.
+Reporting to Authorities: Any suspected fraudulent activity may be reported to the relevant authorities, including law enforcement and regulatory bodies. This may result in investigations and possible criminal charges.
3.4 Security of Your Account
The security of your Zaya account is critical to prevent unauthorized access, fraudulent transactions, and any compromise of your personal information. You are solely responsible for:
+Protecting Your Credentials: You must maintain the confidentiality of your account credentials, including your username, password, and any other sensitive information associated with your account. You are responsible for all activities that occur under your account, including transactions, communications, and any other actions taken by you or someone else using your account.
+Account Sharing: You must not share your account login credentials or any access details with anyone else. Zaya will not be responsible for any losses or issues that arise from unauthorized access to your account.
+Security Precautions: It is strongly advised that you use a strong password (including a combination of letters, numbers, and special characters) and enable any available multi-factor authentication (MFA) or two-factor authentication (2FA) on your account. These additional security measures provide extra layers of protection against unauthorized access.
+Immediate Notification of Suspicious Activity: If you notice any unauthorized access or suspicious activity in your account, you must notify Zaya immediately. This includes unauthorized transactions, login attempts,or changes to your account settings. Prompt reporting allows us to take appropriate action to safeguard your funds and protect your account. Failure to comply with these security practices may lead to a compromise of your account, and Zaya will not be held liable for any resulting losses if security breaches are caused by user negligence.
As a user, you assume full responsibility for ensuring the accuracy and correctness of all transactions made through the Zaya platform. This includes:
+Transaction Details: Before confirming any transaction, you must carefully verify all details, including the recipient’s information (such as name, wallet address, or payment account details), the transaction amount, and any applicable fees. Zaya will not be responsible for errors or issues caused by incorrect information provided by you.
+Transaction Confirmation: Once a transaction is confirmed and processed by Zaya, it cannot be reversed or canceled. Therefore, it is imperative that you double-check all transaction details before confirming the payment.
+Transaction Fees: You are responsible for understanding and accepting any transaction fees that may apply to your payments. Zaya will inform you of any applicable fees before finalizing the transaction, and you are responsible for ensuring that you have sufficient funds to cover both the transaction amount and any fees.
+Currency Conversion: If your transaction involves currency conversion, you are responsible for ensuring that the exchange rate provided by Zaya is acceptable. Currency conversions may be subject to fluctuations in the exchange rate, and Zaya is not liable for any losses arising from exchange rate variations. Zaya strives to provide a transparent and secure platform for all transactions, but it is ultimately the user’s responsibility to ensure the accuracy of the information they provide and to take all necessary steps to confirm the details before finalizing the transaction.
4.1 Role of Zaya as an Agent
Zaya acts strictly as an intermediary agent between you and Jaudi, which provides the core financial services and manages the execution of transactions. Zaya’s primary function is to facilitate user access to Jaudi’s platform, assist with the initiation of payments, and ensure that transactions are routed to the appropriate processing entities. However, it is important to understand that Zaya does not have direct control over the execution of any financial transactions or currency conversions performed through the platform. Given this intermediary role, Zaya does not assume responsibility for any issues related to the actual processing of financial transactions, including the following:
+Errors in Payment Processing: While Zaya helps initiate and guide the transaction process, the actual transaction processing is performed by Jaudi or other payment partners. Zaya is not responsible for any errors or failures that may occur during the execution of these transactions, including but not limited to the incorrect amount of funds being transferred, delayed payments, or failure of payments to reach the intended recipient.
+Delays in Transaction Execution: Transactions initiated through Zaya may experience delays, which could be due to various factors, including issues with Jaudi’s systems, third-party payment providers, network congestion, or technical glitches. Zaya will not be held liable for delays in the processing of transactions.
+Transaction Disputes: In cases where users dispute a transaction, Zaya is not liable for resolving such disputes, as these transactions are processed and managed by Jaudi. Any disputes or issues regarding a transaction’s validity, completion, or outcome should be directed to Jaudi or the relevant financial institution. As a user, you understand and accept that Zaya’s liability is restricted to providing access to the platform and facilitating the initiation of transactions, and does not extend to the actual processing or resolution of any payment-related issues.
4.2 Exclusion of Liability for Financial Transactions
Zaya makes every reasonable effort to ensure that the platform is functioning correctly, but we cannot guarantee that the execution of financial transactions will always be successful, error-free, or completed within a specific time frame. Therefore, Zaya does not assume responsibility for any of the following:
+Loss of Funds: If any funds are lost, misplaced, or misdirected due to issues with transaction processing, either through Jaudi, a third-party payment provider, or technical problems, Zaya will not be liable for those losses. This includes, but is not limited to, any unauthorized payments or incorrect transfers, either initiated by you or due to external system failures.
+Errors in Transaction Execution: Despite our best efforts to maintain the accuracy and efficiency of the platform, there may be errors in the transaction process, including incorrect amounts being debited or credited, failure to transfer funds to the correct recipient, or currency conversion errors. Zaya will not be responsible for these types of errors, and any issues arising from such errors will need to be addressed directly with Jaudi or the relevant third-party service provider.
+Transaction Processing Failures: While Zaya strives to ensure that all transactions are processed smoothly,we do not guarantee the success or completion of every transaction. Due to factors beyond our control, such as network interruptions, bank failures, or issues with payment processors, a transaction may fail, and Zaya will not be held liable for any resulting losses or inconvenience. Zaya is also not responsible for any failure to execute a transaction due to insufficient funds in your wallet or account, or any other reason beyond our control.
+Lack of Availability of Funds: Zaya does not guarantee that the funds in your account or wallet will always be available for withdrawal, transfer, or use. The availability of funds depends on the successful completion of transactions, the availability of your linked payment methods, and the ability of Jaudi or third-party services to process payments. You acknowledge that Zaya is not responsible for any disruption to the availability of funds, such as delays in deposit clearing or issues related to the funding method used. You agree to use Zaya’s Services at your own risk and acknowledge that Zaya shall not be liable for any financial losses, damages, or inconveniences arising from the use of the platform or financial transactions.
4.3 No Liability for Third-Party Services
In addition to our own platform, Zaya integrates with several third-party service providers, including but not limited to:
+Payment Processors: Third-party payment services that help process transactions between users and their recipients.
+Banks: Financial institutions involved in facilitating deposits, withdrawals, or transfers of funds to and from user accounts.
Currency Exchange Services: Providers involved in converting currencies for users engaging in international transactions.
While Zaya works to provide seamless integration with these third-party services, we cannot control or guarantee the reliability, availability, or functionality of third-party providers. As a result, we are not liable for:
+Failure of Third-Party Services: If any third-party service fails to execute or completes a transaction improperly (such as failure to process a payment or an issue with currency conversion), you will need to contact the relevant third-party provider for resolution. Zaya will not be held responsible for the actions, inactions, or errors of these third-party services.
+Delays Due to Third-Party Providers: Any delays caused by third-party providers, such as payment processors or financial institutions, are outside Zaya’s control, and we disclaim any liability for such delays. This includes delays in crediting funds to your account or issues caused by network downtime or technical failures in the third-party services.
+Terms and Conditions of Third-Party Providers: If you use any third-party services through Zaya, you agree to comply with their terms and conditions, which may differ from those of Zaya. You are responsible for understanding and accepting the terms of use of any third-party providers you interact with, and any disputes or issues should be resolved directly with them.
Zaya makes no warranties or guarantees about the reliability, performance, or availability of third-party services. We are not responsible for any losses or damages arising from your use of such services, and you agree to hold Zaya harmless in the event of any issues caused by third-party providers.
4.4 Force Majeure
Zaya shall not be held liable for any failure or delay in performance of its obligations under these Terms due to causes beyond our reasonable control. These circumstances, referred to as “Force Majeure,” include but are not limited to:
+Natural Disasters: Events such as floods, earthquakes, hurricanes, and other extreme weather conditions that disrupt normal operations.
+Civil Disturbances: War, terrorism, riots, civil unrest, or strikes that may affect our operations or the ability of our partners to provide services.
+Government Actions: Regulatory actions, changes in law, or other government measures that may affect the availability or legality of certain services.
+Network Failures: Technical failures in telecommunications infrastructure, data center outages, internet service provider disruptions, or other network-related issues.
+Pandemics or Health Emergencies: Global health crises or other large-scale events that disrupt operations,cause widespread disruption, or lead to quarantines or travel restrictions. In the event of a Force Majeure situation, Zaya will make reasonable efforts to resume normal operations as quickly as possible. However, during the period of disruption, we will not be liable for any delays or failures to fulfill our obligations under these Terms. You acknowledge that Zaya shall not be responsible for any losses,financial or otherwise, incurred due to such extraordinary circumstances. In the event that a Force Majeure event significantly impacts the delivery of our services, we will provide timely updates to users and take appropriate actions to minimize disruption. If the event extends for a prolonged period, Zaya may temporarily suspend or modify services to comply with applicable laws or preserve the integrity of the platform.
5.1 Right to Amend Terms
Zaya reserves the right to modify, update, or amend these Terms at our sole discretion at any time. This may be done in response to changes in regulatory requirements, improvements to our services, operational adjustments, or changes in industry practices. We may also make modifications to these Terms in order to address legal, compliance, or security considerations.
While we will make reasonable efforts to notify you of significant changes, we may update the Terms without direct prior notice in cases where such amendments are minor or necessary to maintain the legality or functionality of the Services. Zaya does not guarantee any specific method of notification but may use the following methods to inform you of changes:
+Email Notifications: We may send you an email to the address you have provided, informing you of the updates to the Terms.
+In-App Notifications: You may be notified within the Zaya app regarding any changes when you log in or use the services.
+Website Announcements: The updated Terms may be posted on our website, and any changes will be reflected on this page with the effective date of the changes clearly visible. It is important to note that we are not obligated to notify every user individually, especially in the case of minor changes. For this reason, it is your responsibility to regularly check the Terms to ensure you are aware of any updates that may affect your rights, obligations, or usage of the Services. The revised Terms will supersede any previous versions and will govern your use of the Services from the date they are posted unless otherwise indicated. By accessing or using our platform after these changes take effect, you acknowledge that you have read, understood, and agreed to the updated Terms.
5.2 Continued Use as Acceptance
By continuing to use Zaya’s Services following any modifications or updates to the Terms, you agree to be bound by the revised Terms. Your continued use of the platform, including accessing your account, completing transactions, or using the Services in any manner, constitutes your acceptance of the updated Terms and conditions. If you do not agree with the changes made to the Terms, you have the right to discontinue using our Services at any time. In such cases, you should cease any further use of the Services, close your account, and ensure that all transactions are completed or settled before doing so. In the event of significant changes that affect your use of the Services or your legal rights (such as changes in fees, obligations, or limitations of liability), we will make reasonable efforts to ensure that you are informed through appropriate channels, such as email notifications or prominent alerts within the app. However, if you continue to use the Services after these changes are implemented, you are deemed to have accepted the revised Terms. If, for any reason, you are unable to accept the changes and wish to stop using the Services, you may choose to close your account. You can do this by contacting our customer support team or through the account settings in the app. Please note that closing your account will not relieve you of any outstanding obligations under the previous Terms, and any funds or services held under your account may still be subject to the revised Terms until fully resolved. We encourage you to review the Terms regularly to ensure that you are up-to-date with any modifications, as they govern your relationship with Zaya and the use of our platform.
6.1 Termination of Account by User
You, as a user, have the right to terminate your account with Zaya at any time for any reason. To terminate your account, you must notify us by contacting our customer support team through the contact details provided on our platform. Upon receiving your request for termination, we will process the closure of your account in a timely manner, ensuring that any outstanding obligations are addressed and that your funds are properly handled. When requesting termination, you are required to ensure that:
+All outstanding balances and transactions are completed: Before initiating the closure of your account, it is essential that all pending transactions, such as money transfers, currency conversions, or balance settlements, have been finalized. If there are any unresolved transactions, we may not be able to proceed with account termination until those issues are resolved.
+Funds are withdrawn: You must withdraw all remaining funds from your account before it is closed. Any funds left in your Zaya wallet will not be accessible once your account is terminated, and Zaya will not be responsible for any lost funds after account closure. Zaya will provide you with a reasonable period of time to withdraw your funds following your termination request.
+You fulfill any outstanding fees or charges: Before account termination, all applicable fees, charges, or outstanding debts owed to Zaya must be settled. These may include transaction fees, account maintenance fees, or any penalties due to misuse of the platform. If you fail to settle these amounts, we may be unable to fully terminate your account or we may deduct the outstanding amount from any funds you have remaining. Termination will not impact your rights or obligations arising from any actions that occurred before the termination request was made. After account closure, you will no longer have access to any of the services or features of Zaya.
6.2 Termination by Zaya
Zaya reserves the right to suspend, limit, or permanently terminate your access to the platform and the Services at any time and without prior notice in the following circumstances:
+Suspicion of Fraudulent or Unlawful Activity: If we suspect that your account is involved in fraudulent activities, money laundering, or any other illegal actions, we may suspend or terminate your access to the platform. This includes any activity that violates our terms, conditions, or applicable laws. We may take such actions as a preventative measure to protect the security and integrity of the platform, other users, and the broader financial system.
+Non-Compliance with Terms and Conditions: If you breach any part of these Terms and Conditions or any other policies or guidelines set by Zaya, we reserve the right to suspend or terminate your access. This includes, but is not limited to, failure to provide accurate and timely identification, violating payment service regulations, or engaging in behavior that undermines the functionality of the platform.
+Regulatory Requirements: We may suspend or terminate your account if required to do so by a regulatory body, government authority, or as part of legal obligations. In this case, Zaya will act in accordance with applicable laws and regulations, and may be required to disclose certain details about your account to relevant authorities.
+Failure to Provide Required Information: If, during your use of the Services, Zaya requests additional information for verification purposes, and you fail to provide the requested documentation in a timely manner, we may suspend or close your account. This is essential to ensure that we comply with regulatory requirements, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) laws.
+Non-Use or Inactivity: If your account remains inactive for a long period of time, Zaya reserves the right to suspend or close your account to comply with applicable regulations and internal policies. In such cases, Zaya may contact you to request confirmation on the status of your account. When Zaya initiates the termination or suspension of an account, we will make reasonable efforts to notify you of the action. However, in certain circumstances, such as those related to fraud, legal requirements, or regulatory demands, we may be prohibited from providing prior notice or may only notify you after the action has been taken. In such cases, you will be informed as soon as permissible.
6.3 Consequences of Termination
Once your account is terminated, regardless of whether the termination is initiated by you or by Zaya, the following consequences will apply:
+Loss of Access to Services: Upon account termination, you will no longer have access to any of the features or services provided by Zaya, including the ability to send, receive, or exchange funds, view transaction history, or use any wallets or payment accounts associated with your account. Any access credentials (such as login information or mobile app access) will be deactivated, and you will be unable to conduct any further transactions through the platform.
+Withdrawal of Funds: Prior to termination, it is your responsibility to withdraw any remaining balance in your account. Zaya will provide you with a specified period to withdraw your funds, after which any remaining funds may be forfeited or transferred to a designated account in accordance with applicable legal and regulatory requirements. Any failure to withdraw funds within the specified timeframe may result in your funds being held for a limited period or transferred to a designated third party.
+Settlement of Outstanding Fees and Charges: If any fees or charges remain outstanding on your account at the time of termination, Zaya reserves the right to deduct the amount owed from any remaining funds in your account before closing it. These charges may include transaction fees, penalties, or other amounts incurred during your use of the platform. If your balance is insufficient to cover these fees, you may be required to pay the outstanding balance.
+Post-Termination Obligations: Termination of your account will not release you from obligations that arose before the termination date. You will remain liable for any outstanding transactions, disputes, or legal responsibilities, including any fees owed to Zaya. Furthermore, any transactions that were initiated but not completed prior to termination may still be subject to the terms and conditions, and you may need to resolve them directly with Zaya or any third-party service providers involved.
+Access to Transaction History: After your account has been closed, you may no longer have access to your transaction history through the app or platform. If you wish to obtain a record of past transactions, it is advisable to download or print this information prior to termination. Zaya may, upon your request, provide you with a record of your transaction history for a specified period after the termination.
+Legal and Regulatory Compliance: Even after termination, Zaya may retain certain information related to your account and transactions as required by applicable legal, regulatory, and compliance obligations. This may include retaining data for anti-money laundering (AML) purposes, fraud prevention, and audit requirements. In the case of a termination initiated by Zaya, we will ensure that all obligations are met, and any funds held on your behalf will be dealt with in accordance with our policies and applicable law. We will work with Jaudi, our partner payment provider, to ensure the proper handling of any outstanding balances or pending transactions. However, any delays due to third-party processing times or legal obligations may affect the timeframe for fund transfers or account settlements.
At Zaya, we strive to provide transparent and competitive pricing for the payment services we offer. This section explains the different types of fees and charges you may incur when using our platform. Please read carefully to understand when fees apply and how they are structured.
7.1 Service Fees
We may charge service fees for specific actions or transactions that you perform through our platform. These fees are necessary to cover the costs of providing our services and to maintain the quality of the services we offer.
Types of Service Fees:
Money Transfers: Zaya may charge a fee for sending money, whether domestically or internationally. This fee will vary depending on the destination country, currency, the method of payment, and other factors. The fee will be displayed to you prior to initiating the transfer, so you will know exactly how much you will be charged before proceeding.
Currency Conversion: If you exchange funds between different currencies, we may charge a fee for the conversion. This fee is generally calculated as a small percentage of the transaction value. The exact fee will be communicated to you before confirming the transaction.
Account Maintenance: While the basic services of Zaya may be free, we may charge periodic maintenance fees if your account remains inactive for an extended period or for other specialized account services. The specifics of these fees will be clearly explained in the account settings, and you will be notified in advance.
Withdrawals: In some cases, fees may apply when you withdraw funds from your wallet to a bank account or external payment system. These fees will be disclosed at the time of the withdrawal request.
Fee Transparency: All service fees charged by Zaya will be clearly displayed at the time of the transaction. If applicable, we will provide a detailed breakdown of the fees, including both Zaya’s fees and any third-party fees that may be involved. You will be required to accept the fees before completing any transaction.
Discounts or Promotions: From time to time, Zaya may offer promotional periods or special discounts on certain fees. If applicable, such promotions will be communicated to you through notifications or on the platform itself. You may be eligible to receive discounted rates for specific transactions or services during these promotional periods.
7.2 Third-Party Fees
In addition to the fees charged by Zaya, your transactions may also be subject to fees charged by third-party service providers involved in processing the transaction. These providers may include:
+Banks: If your transaction involves a bank (for example, when transferring funds to or from your Zaya wallet), the bank may charge fees for processing payments or handling transfers. These fees can vary depending on the bank’s policies and the type of account you hold. Zaya has no control over these charges.
+Payment Processors: Some transactions may be processed through external payment gateways or processors, such as credit card companies or third-party transfer services. These processors may impose additional fees, particularly for international transactions or if specific payment methods (e.g., credit card) are used.
+Correspondent Banks: In the case of international money transfers, additional fees may apply through intermediary banks or correspondent banks. These fees are usually deducted from the amount sent or may be charged to the recipient.
+Currency Conversion Providers: If a currency conversion is involved, third-party providers may charge additional fees related to their exchange rates or processing. These fees may not always be visible in advance,and you should inquire about these charges with the third-party provider prior to making the transaction.
+Taxation and Regulatory Fees: Certain transactions may attract taxes, levies, or other regulatory fees imposed by governments or regulatory bodies. These charges are beyond the control of Zaya, and you are responsible for any taxes or charges imposed by the relevant authorities. You will be notified of any third-party fees applicable to your transactions during the transaction process. Please note that Zaya cannot control or estimate the fees imposed by third-party providers, and we encourage you to check with them if you are uncertain about any additional charges.
7.3 Changes to Fees
We understand the importance of fee transparency, and we strive to keep our fee structure competitive and clear. However, we reserve the right to adjust our fees in the future, subject to the following conditions:
+Notification of Fee Changes: If we decide to update or change our fees, we will notify you in advance through the following means:
+Email: We will send an email notification to the email address associated with your Zaya account.
+In-App Notifications: You will receive a notification within the platform (both on the website and mobile app) informing you of the changes.
+Website Updates: We will update our fee schedule on the Zaya website and within the app for easy reference.
+Effective Date: Any changes to the fee structure will not take effect immediately. We will provide you with a reasonable notice period before the changes come into force. This notice period will typically be 30 days or more, depending on the nature of the changes.
+Your Right to Discontinue: If you do not agree with the revised fees, you have the option to discontinue using our Services. If you decide to terminate your account, please refer to the Termination and Suspension section of these Terms for instructions on how to close your account.
+Fee Structure Flexibility: Zaya may also introduce new fees or remove existing ones, depending on service updates, regulatory requirements, or market conditions. We aim to provide clear communication and transparency on any new charges before they are implemented. We encourage you to review our fees regularly, especially when using new services or engaging in transactions that might be subject to additional charges.
7.4 Fee Disputes
If you believe that you have been incorrectly charged a fee, you should contact us as soon as possible. We will investigate any discrepancies and, if necessary, issue a refund or adjust the charges accordingly. In your inquiry,please include relevant transaction details such as the date, amount, and the nature of the service involved. We will respond to your inquiry promptly and aim to resolve any issues related to fees within a reasonable timeframe. If you are not satisfied with the outcome, you may follow our formal complaints process, which is outlined in the Complaints and Dispute Resolution section of these Terms.
7.5 Waivers or Reductions in Fees
Zaya, at its discretion, may offer fee waivers or reductions under certain circumstances. These waivers may be provided to:
+Long-Term Users: Users who have maintained a long-standing relationship with Zaya may qualify for discounted fees or waived charges for specific transactions.
+Promotional Periods: During special promotions, Zaya may reduce or eliminate fees for certain services as part of a marketing initiative.
+Referral Programs: Users who refer new customers to Zaya may qualify for reduced fees or account credits as part of a referral program. Any waivers or reductions will be clearly communicated to eligible users through app notifications or emails, and they will have specific terms and conditions attached. These promotions may be limited in time, and once the promotion period ends, standard fees will apply.
7.6 Refund of Fees
In the event that Zaya charges a fee in error, you may be eligible for a refund. Zaya will assess the validity of such refund requests on a case-by-case basis, and any refunds will be credited to your Zaya account or to the original payment method used for the transaction. Refund requests must be made within a reasonable time frame from the date of the charged fee, typically within 30 days. Requests outside of this window may not be eligible for a refund.
8.1 Privacy Policy
At Zaya, operated by Alvest Capital Limited, we understand the importance of your personal data and are committed to ensuring that your privacy is protected. Our Privacy Policy outlines the types of personal information we collect, how we use and process that data, and the measures we take to ensure that your information is secure. We adhere to the principles and requirements set forth by data protection laws, including the General Data Protection Regulation (GDPR), and other applicable privacy laws.The Privacy Policy explains in detail:
+Types of Data We Collect: This includes personal data such as your full name, contact details, identification information, financial information (e.g., bank account or wallet details), transaction history, IP addresses, device information, and any other information necessary for us to provide our Services to you.
+ Purpose of Data Collection: We collect personal data to facilitate your use of our Services, process payments,verify your identity (KYC – Know Your Customer), prevent fraud, and comply with regulatory requirements. We may also use your information to communicate with you about our Services, send transaction notifications,and provide customer support.
+Use and Sharing of Data: We do not sell, rent, or share your personal data with third parties except in cases where it is necessary to perform our contractual obligations, comply with legal requirements, or protect our rights. We may share your information with Jaudi (our service provider), financial institutions, regulatory authorities, or other third parties where required for the performance of Services or as permitted by law.
+Your Rights: As a user, you have the right to access, correct, delete, or restrict the processing of your personal data in accordance with the GDPR. If you wish to exercise any of these rights, please refer to our Privacy Policy for further details on how to contact us. By using our Services, you agree to the terms outlined in our Privacy Policy. You acknowledge that we may update or revise the Privacy Policy from time to time, and any changes will be effective when posted on our platform. We will make reasonable efforts to notify you of any significant changes, but it is your responsibility to periodically review the Privacy Policy to stay informed.
8.2 Data Security
We are dedicated to ensuring the security and confidentiality of your personal data. We implement a range of technical and organizational measures designed to protect your information from unauthorized access,misuse, loss, alteration, and destruction. These measures include:
+Encryption: All sensitive personal data, including financial transactions, are encrypted using industry-standard encryption protocols to ensure that your information is securely transmitted and stored.
+Secure Servers: We store your personal data on secure servers located in jurisdictions that comply with applicable data protection regulations. These servers are protected by firewalls, intrusion detection systems,and other security mechanisms to safeguard your data from unauthorized access.
+Access Control: We restrict access to personal data within Zaya to only those employees or third-party service providers who need the data to perform their job functions. All personnel who handle your data are trained on confidentiality and data protection best practices.
+Multi-Factor Authentication: We recommend and, in some cases, require users to enable multi-factor authentication (MFA) to further enhance the security of their accounts. This ensures that only authorized users can access their accounts, even if login credentials are compromised. However, while we implement these rigorous measures, it is important to note that no system or security measure is entirely foolproof. You also have a responsibility to ensure the security of your own account. We encourage you to:
+Use strong, unique passwords for your account and do not share them with anyone.
+Regularly monitor your account activity for any suspicious transactions.
+Log out of your account after each session, especially when using shared or public devices.
+Ensure that the device you use to access our Services is secure and protected by appropriate security measures, such as anti-virus software and firewalls. If you suspect that your account has been compromised or you notice any unauthorized access to your account, you should notify us immediately through the contact details provided in our Terms and Conditions.
8.3 Data Retention
We are committed to retaining your personal data for no longer than is necessary to fulfill the purposes outlined in this Agreement, comply with our legal obligations, resolve disputes, or enforce our agreements. The retention periods for your data may vary based on the specific nature of the data and the applicable legal requirements. Some key points about our data retention practices include:
+ Retention for Service Provision: We will retain your personal data for as long as you maintain an active account with us and use our Services. Your data will be used for processing transactions, managing your wallet,facilitating currency exchanges, and ensuring regulatory compliance (e.g., anti-money laundering checks).
+Compliance with Legal and Regulatory Obligations: In certain cases, we are required to retain personal data for a minimum period to comply with laws and regulations. For example, financial institutions and payment service providers must retain certain transaction data for several years to comply with anti-money laundering (AML) regulations and tax laws.
+Account Closure: If you choose to close your account, we will retain your personal data for a period necessary to comply with our legal obligations, resolve disputes, and complete any pending transactions. After this retention period, we will securely delete your data or anonymize it where applicable.
+Data Deletion Requests: If you wish to have your personal data deleted sooner than our usual retention period, you may request such action. We will review your request in accordance with data protection laws,and if legally permissible, we will securely delete or anonymize your data. Please note that there may be circumstances in which we cannot delete your data immediately (such as where retention is required for compliance with legal obligations or if you have any unresolved financial transactions). In such cases, we will inform you of the reason for the delay. We will notify you when your data is no longer required for the purposes for which it was originally collected, and we will ensure that it is securely deleted or anonymized according to industry best practices.
8.4 International Data Transfers
As a global service provider, we may transfer your personal data to countries outside the European Economic Area (EEA) or your country of residence. These transfers may occur when:
+Third-Party Service Providers: Some of the service providers we work with, such as payment processors,fraud detection services, or cloud storage providers, may be located outside your jurisdiction. We ensure that these transfers are carried out in compliance with applicable data protection laws, and appropriate safeguards are in place (e.g., Standard Contractual Clauses or other mechanisms).
+Regulatory or Legal Requirements: In some cases, we may be required to disclose your personal data to government authorities or law enforcement agencies located outside your jurisdiction to comply with legal or regulatory obligations. By using our Services, you consent to the transfer of your personal data to jurisdictions that may have different levels of data protection, provided that we take appropriate steps to protect your data in line with applicable legal requirements.
8.5 Your Rights
Under the General Data Protection Regulation (GDPR) and other applicable privacy laws, you have the following rights with respect to your personal data:
+Right to Access: You have the right to request access to the personal data we hold about you, including details of how your data is processed and for what purposes.
+Right to Rectification: If you believe that any information we hold about you is incorrect or incomplete, you have the right to request that we correct or update that data.
+Right to Erasure (Right to be Forgotten): You have the right to request the deletion of your personal data in certain circumstances, such as when the data is no longer needed for the purposes it was collected or if you withdraw your consent.
+Right to Restriction of Processing: In some cases, you can request that we restrict the processing of your personal data, such as when you contest the accuracy of the data or if you object to the processing.
+Right to Data Portability: You have the right to request a copy of your personal data in a structured, commonly used, and machine-readable format, and to transmit that data to another service provider.
+Right to Object: You have the right to object to the processing of your personal data in certain circumstances,such as for direct marketing purposes or if you believe the processing is unlawful.
+Right to Withdraw Consent: If we process your data based on your consent, you have the right to withdraw that consent at any time.If you wish to exercise any of these rights, please contact us at the details provided in our Privacy Policy. We will respond to your request as soon as possible, and within the statutory timeframe set by law.
9.1 Governing Law
These Terms and Conditions are governed by and shall be construed in accordance with the laws of England and Wales, without regard to its conflict of law principles. This means that any legal disputes that arise from your use of our platform and Services, including any issues related to the interpretation or enforcement of these Terms, will be handled according to English law. By agreeing to these Terms, you consent to the exclusive jurisdiction of the courts of England and Wales, meaning that any lawsuits or legal actions related to your use of the platform will take place in England and Wales. This also means that if a legal issue arises and a court proceeding is required, the relevant courts in England and Wales will be the designated courts to settle the matter. This jurisdictional clause is important as it determines which laws apply and where any disputes will be adjudicated. It ensures that all parties are subject to a consistent legal framework, providing clarity and reducing ambiguity in legal proceedings.
9.2 Dispute Resolution
At Zaya, we are committed to maintaining positive relationships with our users. We aim to provide the highest level of customer service, but we understand that disputes may arise. If you have any disagreement or conflict with us regarding the interpretation, enforcement, or any aspect of these Terms, we ask that you follow a structured process to resolve the issue.
9.2.1 Initial Dispute Resolution
In the first instance, you agree to engage in good faith efforts to resolve any dispute directly with Zaya. This could involve reaching out to our customer support team or the relevant department, where our team will assess your issue and attempt to resolve it as efficiently as possible. We encourage the use of informal means to resolve issues, such as discussions, negotiation, or mediation if needed. Our goal is to ensure that we address any concerns to your satisfaction, where feasible, without escalating the matter.
9.2.2 Formal Dispute Resolution (Arbitration)
If the dispute cannot be resolved informally within a reasonable timeframe, you agree that the dispute will be resolved through binding arbitration under the laws of England and Wales. Arbitration is a method of resolving disputes outside of court, where an impartial arbitrator or panel of arbitrators is appointed to make a binding decision on the issue.
+Arbitration Process: The arbitration will take place in England. The specific procedures, rules, and the selection of the arbitrator will be determined by the chosen arbitration organization, which will be specified at the time of the dispute.
+Arbitrator’s Authority: The arbitrator will have the authority to resolve any issues in relation to the enforcement, interpretation, or application of these Terms, including claims arising from your use of the Services.
+Binding Decision: The arbitrator’s decision will be final and binding on both parties, and there will be limited grounds for appealing the decision. Any award made by the arbitrator may be entered into any court of competent jurisdiction for enforcement.
+Costs: The costs associated with arbitration, including administrative fees, arbitrator fees, and other associated costs, will be borne as agreed upon by both parties. In most cases, the losing party may be required to pay for these costs. However, Zaya will cover the costs of the arbitration if required by law or at the discretion of the arbitrator.
+Alternative Dispute Resolution (ADR): Before resorting to arbitration, we encourage using Alternative Dispute Resolution (ADR) methods, such as mediation, where both parties can meet with a neutral third party to discuss potential resolutions. Mediation can sometimes result in an amicable settlement without the need for arbitration. This clause ensures that both parties have a clear process for addressing disagreements. Arbitration provides a faster, more cost-effective alternative to litigation, and by agreeing to arbitration, both parties waive their right to have the dispute heard by a judge or jury in court.
10.1 Severability
If any provision of these Terms is determined by a court or other competent authority to be invalid, illegal, or unenforceable, such provision shall be deemed severed from these Terms. The remainder of the Terms shall remain in full force and effect, and the invalid or unenforceable provision shall be replaced with a valid and enforceable provision that most closely reflects the intent of the original provision. The severability clause ensures that even if one part of the agreement is found to be invalid, the rest of the contract still remains valid and binding. This prevents the entire agreement from becoming void due to the invalidity of a single provision. The court may replace the problematic provision with a new one that reflects the original intention but complies with the law.
10.2 Transfer of Rights and Obligations
We reserve the right to assign, transfer, or sublicense our rights and obligations under these Terms, in whole or in part, to any third party without your prior consent. This may occur in the event of a business transfer, such as a merger, acquisition, or sale of all or part of our business.
Transfer of Rights: Zaya may assign its rights to third parties, such as service providers, partners, or affiliates, to help facilitate the provision of our Services or to carry out other activities related to your use of our platform. Any such assignment will not affect your rights or obligations under these Terms.
Your Rights to Transfer: You may not transfer, assign, or otherwise delegate your rights or obligations under these Terms to any third party without our prior written consent. This means that you cannot assign your account to another person or entity without explicit permission from Zaya. We may refuse consent to such assignments at our discretion. This provision ensures that Zaya can continue to operate its platform smoothly and make adjustments as necessary in business operations, without affecting the validity of the Terms. It also protects the integrity of our agreements by maintaining control over who is bound by the contract.
10.3 Entire Agreement
These Terms, along with any other agreements or policies referenced herein, represent the entire agreement between you and Zaya. This document supersedes any previous agreements, communications, or understandings, whether written or oral, regarding the subject matter hereof. If any conflict arises between these Terms and any other terms or agreements, the provisions of these Terms will prevail unless expressly stated otherwise.
10.4 No Waiver of Rights
No waiver of any of the provisions of these Terms by Zaya shall be deemed a waiver of any other provision or a waiver of Zaya’s right to enforce the provision in the future. Any waiver must be in writing and signed by an authorized representative of Zaya. If Zaya fails to enforce any part of these Terms, it does not mean that Zaya has waived its rights to do so in the future.
10.5 Entire Agreement
This section ensures that these Terms are treated as the complete and final agreement between you and Zaya. It outlines that any changes or modifications to the Terms must be clearly stated in writing.
10.6 Third-Party Beneficiaries
These Terms are intended solely for the benefit of you and Zaya and shall not be construed to confer any rights upon any third party, except where explicitly stated.
10.7 Force Majeure
Zaya shall not be liable for failure or delay in performance of its obligations under these Terms caused by circumstances beyond its reasonable control, including but not limited to natural disasters, war, civil unrest, strikes, technical failures, or government action. This Force Majeure clause frees Zaya from liability during such uncontrollable events.