Terms of service – Payment initiation service

  1. General provisions
    1. These terms of service (hereinafter the Terms) apply when Montonio (hereinafter Montonio, We, or Us) provides You its payment initiation service (the Service). The Services are provided by Montonio Finance UAB, a Lithuanian limited liability company, registry code 305205122, address Lvovo st. 25-702, Vilnius, Lithuania, and holding a payment institution license No LB002007 issued by the Bank of Lithuania.
    2. The Service allows you to initiate a payment order from a payment account held with Your payment service provider (hereinafter Payment Service Provider) to pay for goods or services sold or provided at a web store.
    3. For the purposes of the Terms, You and Montonio are collectively referred to as the Parties or each individually as a Party.
    4. At all times these Terms shall be available at Our website montonio.com.
    5. Montonio has the unilateral right to amend the Terms or cease providing the services.
  2. Description of the Services
    1. By using the Service, You are able to connect Your personal payment account (hereinafter the Payment Account) to Our payment interface (hereinafter the Payment Interface) to generate a payment order to make an authorized payment to the merchant (hereinafter the Merchant) to pay for the goods sold or the services provided.
    2. To use the Service and initiate a payment transaction, You shall give Us Your consent which You will express by authenticating yourself and by approving the payment order as described in section 2.5. We will first provide You with a list of payment accounts held by You at the Payment Service Provider and the IBAN-s of such payment accounts. You will be asked to select the Payment Account You wish to execute the payment order from.
    3. After the successful authentication, We will generate a payment order with the following data:
      1. the name and account number of the recipient of the payment (i.e. the Merchant);
      2. the purpose of the payment (description of the goods or services paid for or the identification code of the order according to which the Merchant could recognize the payment order);
      3. The payment amount (specified beforehand by the data received from the Merchant’s web store).
    4. The payment order cannot be changed after it has been generated. If You wish to cancel a payment order prior to the execution, please close the Payment Interface.
    5. By giving Your consent to initiate the payment order which You will express by entering authentication data provided by the Payment Service Provider, the payment order will be submitted to the selected Payment Service Provider.
    6. Immediately after the successful initiation of the payment transaction, We will provide You and the Merchant with a confirmation of the proper initiation of the payment order and reference enabling You and the Merchant to identify the payment transaction, the amount of the payment transaction and, together with other data transmitted with the payment transaction.
    7. The payment order cannot be revoked after it has been received by the Payment Service Provider.
    8. Your payment session shall be timed out within 15 minutes from Your last activity, but not later than 30 minutes from the opening of the Payment Interface.
    9. We do not keep or have direct access to Your funds when providing the Services. Your funds are transferred from Your Payment account to the Merchant’s bank account.
    10. If the Services were provided and Your funds were not transferred for any reason to the Merchant, You shall be required to transfer the funds to the account specified by Us to finalise the transaction.
  3. Fees
    1. The Services are provided to You free of charge.
  4. Representations and warranties
    1. By using the Services, You confirm that You:
      1. have the legal capacity to enter into binding agreements;
      2. use the Payment Interface at Your own risk, in particular to the satisfaction, quality, performance, fitting for a particular purpose, accuracy and security;
      3. accept to comply with the provisions of the Terms;
      4. undertake to provide any and all data required for us to provide the Services and to comply with legal requirements (e. g. information, data and documents required to identify You for the purposes of provision of Service).
    2. While providing Services, we confirm that we:
      1. provide the Services only under Your explicit consent;
      2. ensure that Your personalised security credentials are not accessible to other parties and that when they are transmitted, the security of the transmitted data is ensured;
      3. indicate Our identity towards the Payment Services Provider servicing Your Payment Account for each communication session;
      4. communicate with You and the Payment Service Provider servicing Your Payment Account only through a designated API;
      5. access the information only from the designated Payment Accounts and associated payment transactions to the extent necessary to provide the Payment Initiation Service;
      6. do not request decrypted sensitive payment data linked with the Payment Accounts;
      7. do not use, access or store any data for purposes other than for performing the Service.
  5. Use of personal data
    1. When providing the Services, We do not retain Your personalised security data. Such data is encrypted and used only for the payment initiation and until We have received the confirmation of the payment order, but not longer than for ten minutes.
    2. Your personal data will be processed in accordance with the Privacy Policy.
  6. Liability
    1. The Parties will not be liable for any indirect loss that may arise from the use or provision of the Services.
    2. Montonio will not be held liable for the following:
      1. errors, delays and discrepancies that occurred by third parties beyond Our control;
      2. breach of any Our obligations caused by circumstances beyond Our control;
      3. for breach of the provision of these Terms and/or any and all damages that occurred as a result of Our compliance with the applicable law(s).
    3. The Parties are not liable for losses incurred as a result of failure to comply with their obligations in connection with circumstances beyond their control, i.e. force majeure.
    4. Notwithstanding the foregoing and without thereby limiting liability, You will indemnify Montonio for any losses or claims, including claims for damages, legal proceedings or expenses, as a result of Your breach of and/or failure to comply with the Terms and/or all relevant rules, regulations and legislation applicable to You.
    5. No limitation of liability will be applicable if that is not allowed under the applicable law.
  7. Communication and complaints
    1. If You are of the opinion that Your rights and/or interests related to the Service have been violated, You can submit the complaint to Us or You wish to communicate with Us on any other matter, You may send an email to the address info@montonio.com. Our languages of communication are English, Lithuanian, Estonian or Russian.
    2. We will analyse Your complaints and provide You with a response within 5 working days. In exceptional cases where We are not able to provide You with a within 5 working days, We will notify You and explain the reasons for not being able to provide the response and also indicate the deadline for provision of a final response. The time limit for a final reply shall not exceed 35 working days.
    3. We will reply to Your email address from which the inquiry had been sent.
    4. If You are unsatisfied with Our response, You may submit a complaint to the Lithuanian financial supervisory authority Bank of Lithuania (Žalgirio str. 90, Vilnius, Lithuania; www.lb.lt) regarding settlement of a dispute. You may submit Your complaint in the Lithuanian language:
      1. Through Lithuanian Electronic Government Portal – an electronic dispute resolution tool;
      2. By filling the consumer’s application form and submitting it to the Supervisory Unit of the Bank of Lithuania by post to the address at Žalgirio str. 90, Vilnius, Lithuania, email: pt@lb.lt);
      3. By drafting the notice in writing and submitting it to the Supervisory Unit of the Bank of Lithuania by post to the address at Totorių str. 4, Vilnius, Lithuania or Žalgirio str. 90, Vilnius, Lithuania, email: pt@lb.lt). More information is available at: https://www.lb.lt/en/dbc-settle-a-dispute-with-a-financial-service- provider.
    5. You may also submit a complaint to the Bank of Lithuania in case You are of the opinion that We have breached the legal acts applicable to its activities and such breach did not originate from the contractual relationship between Us. Such complaint can be submitted to the following addresses:
      1. Totorių str. 4, Vilnius, Lithuania, email info@lb.lt; or
      2. Žalgirio str. 90, Vilnius, Lithuania, email: pt@lb.lt.
  8. Miscellaneous
    1. Any failure or delay by any Party in exercising any right or remedy in one or many instances will not prohibit a Party from exercising it at a later time or from exercising any other right or remedy. No part of the Terms may be waived, modified, amended, or supplemented in any manner whatsoever except by a written document signed by the Parties.
    2. If any provision of the Terms will be found by any court or legal authority to be invalid, unenforceable or illegal, the other provisions will remain valid and in force and, to the extent possible, the provision will be modified to ensure it is valid, enforceable and legal whilst maintaining or giving effect to its commercial intention.
    3. All provisions of the Terms which by their nature will be intended to continue will survive termination, including terms relating to the Parties liabilities.
    4. The language of the Terms will be English.
    5. Lithuanian courts will have jurisdiction to hear any disputes arising out of or in connection to the Terms. If you are a consumer residing in the EU or EEA country, we both agree to submit to the non-exclusive jurisdiction of the courts of Lithuania, which means that you may bring a claim to enforce your consumer protection rights in connection with these Terms in Lithuania or in the country where you live. If you are residing in the EU,  you can additionally use an online dispute resolution platform provided by the European Commission which you can access here: https://ec.europa.eu/consumers/odr