Capitalised terms used in these General Terms and Conditions and not specified elsewhere have the following meanings:
API: Application programming interface; documentation of the procedures (services) of a program or system program and their use that may be used by other programs;
Company: APPSPECT Application Operating Limited Company (European Banking Authority ID: 25434336, represented in the United Kingdom by its wholly owned subsidiary, Recash Application Operating Ltd. with its registered office at 160 Kemp House City Road, London, England, EC1V 2NX);
Partner: a legal entity that has a contractual relationship with the Company and provides a refund of money to the User paying by credit card through the Application;
Partner Information: Partner business data and Partner billing data;
Partner Transaction: a credit card payment transaction where the User has paid for goods or services at the Partner;
PSD2: European Union Directive 2015/2366 / EU;
Refunds: Refunds received by the User through the Application. The purpose of the Partner is to obtain new customers by returning the money to the User and to retain its old customers as a loyalty program;
User: the individual registrant of the Application who gives consent to the Application through the User’s Bank for access to the User Data by the Company;
User Account Limit: the lower value of the amount of cash Refunds received by the User as defined in the Application, which, upon reaching the amount reduced by the transfer fee, will be paid by the User;
User's Bank (s): commercial banks that issue (s) the bankcard (s) required to use the Application;
User Data: the aggregate of data that the Application receives from the User's Bank through the PSD2 Banking APIs with the User's permission; and
Website: Website with https://recash.app access address operated by the Company for Users.
1. Description of the Service to be Provided as an Account Information Service Provider
Application is a native mobile application with RECASH working name operated by the Company, as well as the related websites and other systems that are described in 1.2 and 1.3. (hereinafter referred to as "Application"). The Application Operator is the Company, that is a payment institution performing account information service pursuant to the relevant laws.
1.2 Operation of the Application
Application is a mobile and web-based platform that keeps track of its Users’ credit card purchases with its marketing Partners, and promotes committed buyers with long-term commitment to its advertiser Affiliate Partners providing discount offers.
The steps in the operation process are:
1.2.1. User Registration
User downloads the Application from the appropriate application store (Appstore, Google Play Store) and registers with an email address and password.
1.2.2 The User Provides Access to the Application
After registration, the User is redirected to the User's Bank interface, where the User grants the Application permission to access the User Data (including but not limited to credit card debit transactions). After the User License is granted, the Application will access the following data:
- the User's credit card number (in masked form);
- the date of the User's credit card transaction;
- the amount of the User's credit card transaction;
- the currency of the User's credit card transaction; or
- the merchant ID code allocated to the card acquiring terminal used for the card transaction.
The Application provides the service described in these General Terms and Conditions only with the express consent of the User. The Application will only access information about the payment accounts specified by the User and the payment transactions associated with them. When granting the above license to the User, the Company shall clearly inform the User through the Application that the Application has achieved the data obtained after the granting of the license, ie only:
- to initiate Partner Transactions;
- for accounting with partners; as well as
-a to use it for the operation of an effective in-app (within the Application) referencing system for the Users that uses anonymous profiling.
By accepting the General Terms and Conditions for Users, the User expressly agrees to use such information for the purpose and purpose described above.
1.2.3. Partner Registration
The Partner registers on the Website.
1.2.4. Enter data, set discount (s)
After the registration, the Partner provides the Partner Data and sets the terms and conditions of the rebate (rates, periods, etc.) it wishes to provide. The Refund set by the Partners includes the Company's commission as specified below. Thus, the User can visually follow in the Application the amount of Refund reduced by such commission (illustrated by an example: the Company's commission equals the 20% of the Refund given by the Partner, the Refund given by the Partner is 10%. In this case the User can see a refund of 8% in the Application.)
1.2.5. The User is informed about the Partners
In the Application, the User will be informed about the Cashback Partners. The User may search for them in the Application (including geographic location or rate of Refund), sort them into categories, get more information about the Partners, or access them through the app (over the phone or over the Internet).
1.2.6. The User pays with his / her credit card at the Partner
The User - with a bank card issued by the User’s Bank for which he / she has provided the information specified in 1.2.2 above. - makes a payment to one of the Partners.
1.2.7. The Application recognizes the Partner Transaction
Each Partner provides the merchant code of the bank card acceptor terminal it uses. The bank card debit transaction list may be used to identify the Partners with this merchant code. The Application continuously analyzes the User credit card data received from the banks via PSD2 APIs and recognizes the Partner Transaction (s).
1.2.8. The Application will notify the User of the refund of the Cash on the respective Transaction
The User will be notified that the Application has credited a Refund on his Account administered by the Application with respect to the fact that the User has made a payment at the Partner.
1.2.9. User Pay-out
The Company shall not open or manage a real account for the User, only a virtual account. If the User purchases a product or uses a service at any of the Partners, the Company will be informed about the related account information. The User and the Partner settle the consideration for the product or service, and the Company shall not participate in the payment process in any way. With regard to the payment transactions known to the User within the framework of the account information service, the Company shall make a Refund based on their payment details in order to encourage the purchase. The Company shall transfer the portion of the Refund, reduced by the transfer fee according to Clause 2 of these General Terms and Conditions, to the account number specified by the User, if the amount reaches the User Account Limit or if the agreement concluded between the Parties is terminated upon acceptance of this General Terms and Conditions.
The Company manages the current amount of Refunds to Users prior to the date of payment of the respective Refund on its own account or accounts managed by the Company, and the User shall not have access to it. Accordingly, the Company, as payer, will order its own payment service provider and account manager based on the virtual account data to execute a payment transaction (i.e., to transfer the portion of the Refund reduced by the transfer cost as defined in Clause 2 of these General Terms and Conditions) to the User. In this case, the Company is considered as payer and the User as the beneficiary and the management of the virtual account managed by the Company is solely part of the account information service.
1.2.10. Changing User Account Limit
The Company shall be entitled to modify the User Account Limit for business reasons, in particular with reference to risk management aspects, but shall notify the Users thereof in the form of a Push Message sent through the Application for the first time at least 60 days prior to, and at least 30 days thereafter as well as by sending a message to the email provided by the User upon registration.
1.2.11. Billing after partner transactions
The Company shall invoice its Partners on a periodic basis the rebate on the basis of the Partner Transactions in which the Users have been involved.
1.3 Contracts between affected parties
The Company shall not conclude a separate contract with the Users. The legal relationship between the User and the Company shall be established by an express acceptance by the User of the General Terms and Conditions by the Users.
In individual cases, the Company may grant unilateral exclusivity to the Partners, and may undertake not to agree, within the scope of specifically agreed terms, with another Partner with similar business profile. The Company may enter into a separate written agreement with such Partners.
2. Owning funds
The Company shall not have access to the funds of the Users, and does not possess such funds in any form.
3. Operation at Other Locations
The Company may provide the above-described account information service in other Member States of the European Union upon fulfillment of the required legal and operational requirements.
4. Professional Liability Insurance
The Company has professional liability insurance at Colonnade Insurance Company (https://colonnade.hu) in accordance with the principles set out in PSD2 and the conditions set by the competent regulatory authorities.
5. Other Terms
The offers made by the Partners are considered to be electronic advertisements to promote the sale of the goods or services concerned.
Partners may suspend or withdraw their offers at any time before the respective expiration dates.
The Partner shall be responsible for the purchase of the tools required for the access to and maintenance of the Website and Application, and the associated costs shall be borne by the Partner. The Company shall take all reasonable measures to ensure that the Website and the Application operate reliably and safely, free from viruses.
The Partner acknowledges that the Application may only be used on smartphones with iOS and Android operating systems and is only compatible with Android version 4 and above.
The Partner acknowledges that the Application and Website availability may be interrupted, suspended or terminated from time to time for any reason within or outside the Operator's sphere of influence and may not assert claims against the Company on such basis.
The Partner acknowledges that the Company shall not be responsible for any data lost during transmission on the Internet. The purpose of the Company is to make the application and the related website available 7 days a week, 24 hours a day, but there may be times when the Application's mobile or web interfaces are unavailable (for example due to necessary software updates).
The Partner shall be obliged to act in accordance with the requirements of good faith and fairness in the use of the Application and the Website, in compliance with the relevant legal requirements. Consequently, Partner may not use the Website or the Application to distribute infringing content, computer viruses, or unauthorized data collection.
The Partner is expressly liable to the Company for any damage sustained by the Company as a result of the irregular and / or unlawful use by the Partner of the Application or the Website.
6. Limitation of Liability
The Company has a contractual relationship solely with its registered Partners and only displays the Partner's offers on the registered Users smartphones.
The Company shall not control or examine the quality of the services marketed by its Partners, and whether the contents of their offers uploaded to the Application are accurate or true.
The Company shall only display the Partners' offers on the Users’, but shall not assume any liability for the actual use of the offers by the affected Partners as stated in the offer. The Company also assumes no liability for the quality, properties, suitability for proper use of the goods or services contained in the offers, and for the fulfillment of other terms and conditions contained in the offer.
7. Intellectual Property
The Application, the Website and all content, description, graphics, illustrations on the Website are the sole property of the Company and, where applicable, of the Partners. The Website shall be considered as collector's work and is protected by copyright.
It is prohibited to make any copies of the contents of the Website or the Application in any form, to record, re-produce, distribute, transmit, download, edit, resell or publish. The use of the Website or the content of the Application for any purpose shall be possible only with the prior written consent of the Company.
Any infringement of the Company's intellectual property will result in the offender being held liable.
8. Complaint handling
The Partners may complain about the Application by e-mail to firstname.lastname@example.org operated by the Company.
The Company will investigate complaints received from the Partners within 30 days and notify the Partner about the results of the examination in the form of an e-mail.
9. Amendment of the General Terms and Conditions
The amended General Terms and Conditions shall take effect on the date specified therein. If, after the amended General Terms and Conditions enters into force, the Partner uses any of the services provided by the Application, it shall be deemed to have accepted the amended General Terms and Conditions.
10. Governing law, dispute resolution
The present General Terms and Conditions shall be governed by the laws of England and Wales. The parties shall attempt to settle their disputes primarily through peaceful means. If such attempt to resolve the subject matter fails, the parties shall submit themselves to the ordinary courts of England and Wales.