Terms of Service
The legal terms and conditions for the SecPaid technical service software.
Foreword
These are the terms and conditions for the technical service software SecPaid, offered as a carrier and messenger of e-money on secpaid.com. By initiating a transaction, a user accepts that the statutory fourteen (14) day right of cancellation is excluded. SecPaid operates as a technical service provider for registered accounts in Germany and the European Economic Area. These terms apply to international registrations in the applicable language on request.
1. Information About Us
SecPaid Limited & Co. KG provides its services from its headquarters at Tal 44, 80331 Munich, Germany. Our primary business is the transaction from a payer, referred to as the customer, to the payee, referred to as the user, and the provision of associated payment services.
2. Requirements for a SecPaid User Account
Companies must be properly registered in their country of headquarters. A PCI declaration of conformity must be submitted annually and independently. Registration requires only internet access and a device with any operating system, with all mandatory fields completed.
3. Account Cancellation
Users may cancel their account at any time. After cancellation of the contract or deletion or deactivation of a SecPaid user account, our business relationship ends immediately. SecPaid may retain funds for up to thirty (30) days to settle outstanding claims and comply with regulatory obligations. Accounts used for criminal activity are blocked without notice and reported to the relevant authorities. SecPaid reserves the right to terminate accounts for behaviour that damages its reputation, violates ethical standards or human rights, or breaches GDPR compliance.
4. Using the SecPaid User Account
Users must secure their access credentials against misuse. Credit balances are automatically transferred daily by SecPaid to the IBAN stored with us. The base currency is Euro, and no interest is paid on balances held. Users are responsible for the tax treatment of their own balances. Privacy policies for individual payment sources must be obtained directly from the relevant provider, not from SecPaid.
5. Assignment of Receivables
SecPaid acts as assignee of customer claims through an automated process that requires no additional signature. The assignment of receivables is a legal instrument used, in particular, in commercial transactions to collect receivables efficiently. SecPaid receives claims in its own name but is obliged, as a fiduciary agent, to transfer the collected amount to the customer's known bank account immediately.
5.1 Concept and Fundamental Meaning
The assignment of receivables is a term from civil law referring to the transfer of a claim for the purpose of collection by a new creditor. The new creditor receives the authority to assert the claim in its own name, on behalf of the original creditor.
5.2 Legal Basis
This fiduciary relationship obliges the assignee to collect the claim for the assignor's account and to comply with the assignor's instructions. With the SecPaid software, this process is fully automated, so the invoice amount, once credited within the SecPaid system, is paid out to our customer.
5.3 Legal Regulation and Demarcation
The authority to assign derives from Sections 398 et seq. of the German Civil Code (BGB). Unlike a full assignment, the collected claim is formally transferred to the assignee, but the assignee remains obliged to transfer the proceeds to the assignor.
5.4 Contracting Parties and Participants
Three parties participate in this structure: the assignor (the customer), the assignee (SecPaid Limited & Co. KG), and the debtor (the customer's own customer).
6. SecPaid Service Fees
Fees reflect our agreements with payment service providers. Service fees are subject to global financial market movements and other price factors beyond our control, which may result in a temporary or permanent increase in fees. Contracts default to the nearest module matching the previously agreed fee. Either party may terminate the agreement if these influences become unacceptable.
7. API Performance and Safety
SecPaid uses KONG for API management, targeting a response time of under 500 milliseconds, though this depends on the performance of the KONG API tool itself. Keycloak provides single sign-on and role-based authorisation. The underlying infrastructure is operated by third parties, including IONOS SE, KONG, and Keycloak, and resolution of infrastructure issues rests with those providers.
8. Risk of Chargebacks
When chargebacks exceed one percent of monthly transactions, SecPaid will hold back twenty (20) percent of the affected credit balance until the following month, in order to be able to service any chargebacks. Persistently high chargeback rates may result in account restriction or cancellation, along with additional processing fees.
9. Liability and Warranty
As a technical service provider, SecPaid has no influence on the underlying contract concluded between the customer and the user. Discrepancies and complaints relating to that contract remain the responsibility of the contracting parties. Support is available on weekdays from 9:00 to 17:00, but SecPaid cannot accept liability for the failure of servers or third-party systems. Temporary deactivation may occur in response to security risks without any assumption of liability.
10. Right of Ownership and Possession
Users who register on secpaid.com, or who sign a customised contract, receive neither ownership nor possession rights in the software, only a non-exclusive right to use the technical service software SecPaid. Ownership remains with its authors and owners.
11. Money Laundering Act (AMLA – GwG)
Registration requires cooperation in providing identification information in accordance with Section 11 (4), (5), and (6) of the German Money Laundering Act (GwG). Any changes occurring during the business relationship must be reported immediately. SecPaid is obliged by the GwG to provide information on conspicuous transactions to the relevant authorities upon request, even without the consent of the contractual partner. Non-compliance may result in account restriction or deletion, along with additional processing fees. See our AML policy for details.
12. Privacy
SecPaid processes and secures data collected in accordance with the General Data Protection Regulation (GDPR). Cookies remain valid for 24 hours. Data collected during registration and contracting is used to enable transaction crediting, fee allocation, and IBAN transfers. Only system-relevant data is exchanged with third-party providers. See our Privacy Policy for details.
13. Contact Details
SecPaid Limited & Co. KG
Tal 44
80331 Munich
Germany
or
SecPaid Limited
Kandoy House, 2 Fairview Strand
Clontarf West, Dublin 3, D03 R8P3
Ireland
Email: contact@secpaid.com