Glossary of terms
| “AML/CTF” | Anti-money laundering/Counter-terrorist financing. The purpose of implementing anti-money laundering and counter-terrorist financing measures is to stop criminals and terrorists from abusing the financial system. Through effective implementation of these measures, countries and businesses (such as financial institutions) can help trace and stop the financial flows linked to serious crime and terrorism and make society safer. |
| “AML/KYC” | Anti-money laundering / Know your client |
| “API” | Application program interface – an open communication technical interface based on RESTful architecture and compliant with EBA-RTS requirements. |
| “Associated parties” | Legal entities or natural persons that are related to the Customer, e.g., business partners. |
| “Authorised Representative” | An individual who has been granted the status of an Authorised User by the legal representative of the Merchant or another Authorised Representative. Authorised Users may be added within the Partner System, and they possess the right to activate additional features and Services on behalf of the Merchant. |
| “Beneficial owner” | A natural person who owns or controls a customer (legal entity or foreign state enterprise) and/or a natural person on whose behalf a transaction or activity is performed:in a legal person:a natural person who owns or controls, directly or indirectly, a sufficient percentage of the shares or voting rights of that legal person, including management through bearer shares, other than public limited-liability companies or collective investment undertakings the securities of which are dealt in on regulated markets the requirements for disclosure of information about its activities, or equivalent international standards, or other means of control in accordance with European Union law apply. A natural person who owns 25 percent and one share or more than 25 percent of a customer’s ownership is considered a direct owner. The natural person (s) controlling the undertaking or undertakings, a natural person in a senior position (Senior manager) in the legal entity being identified, if the person referred to in point (a) of this paragraph has not been identified or if there is any doubt that the identified person is the beneficiary.in trust funds – all the following persons:the trustor (s);the trustee (s);the custodian (s), if any.natural persons benefiting from a legal person or an entity without legal personality, or, in so far as such persons have not yet been identified, persons whose interests are represented by the establishment or operation of that legal person or entity without legal personality.any other natural person who effectively controls the trust, directly or indirectly, by any other means or by any other means.in a legal person administering and distributing funds, an entity of a form similar to a trust - a natural person holding a position equivalent to the duties specified above. |
| “Business relationship” | Is a business, professional or commercial relationship between a Customer and financial institutions or other obligated entities in connection with their professional activities, which was intended to continue for a certain period of time at the time the relationship was established. |
| “Close associate” | Is a natural person who is a participant in or maintains other business relations with a PEP; or a natural person who is the sole beneficiary of a legal person or an organisation without legal personality established or operating for the de facto property or other personal benefits of a PEP. |
| “Close family members” | Are the spouse, the person with whom the partnership is registered (hereinafter - cohabitant), parents, brothers, sisters, children and spouses of children, cohabiting children. |
| “Customer” | Shall mean a natural or a legal person, that owns an online shop or online business (a Merchant) with whom the Company enters into a business relationship. |
| “Merchant” | The person using Montonio’s Services, whose details are indicated in the Partner System and whose Online Store is connected to the Montonio Service Platform. |
| “Montonio Service Platform” | The technical solution created by Montonio forming a payment and service platform to be linked with the Merchant’s Online Store via API or plugin integration as instructed in the related Documentation that enables the Merchant select and receive different services provided by Montonio. |
| “Online store” | The online store operated by the Merchant. |
| “Payment institution” | Legal person which has been issued with a payment institution licence or a licence of a payment institution providing only account information service or a payment institution licence for restricted activities. |
| “Partner System” | Montonio’s online platform available at https://partner.montonio.com used for onboarding Customer, administering and managing services provided by Montonio to the Customers |
| “PEP” | Natural persons who have or have been entrusted with important public office and their close family members or close associates. |
More definitions are provided in Terms and conditions. Other definitions have a meaning that is stated in the applicable laws.