The following definitions shall be applicable in the Agreement:
Account Currencies – means currencies in which Payment Accounts (including Payment Sub-accounts) are made available to the Client.
Allowed Currencies – means currencies that are available for operations with a specific Payment Method.
API – means application programming interface connection that allows the Client to perform different operations relating to Payment Services.
Authorised User – means an individual authorised by the Client and accepted by FMPay to have access to the Payment Account.
Business Day – means a day on which banks are open for general business in London but excludes Saturday, Sunday and any other day which is a legal holiday in London.
Confidential Information – means information received in connection with, or which a Party has learned in consequence of, the Agreement or its terms and conditions or relating to the commercial secret of the Parties, including know-how, value of services, information about customers, or employees, and Payment data. Confidential Information under the Agreement shall not include (i) information that becomes publicly available on the date of signing the Agreement or after signing it; (ii) information that is publicly available through no fault of a Party; (iii) information that was legally received by a Party before entering into the Agreement.
Client – means a natural or legal person who has entered into the Agreement with FMPay for the purpose of using Payment Services and who has executed the Service Schedule.
Data Protection Legislation – means any laws and regulations in any relevant jurisdiction relating to privacy or the use or processing of data relating to natural persons, including EU Regulation 2016/679 (“GDPR”) and the Data Protection Act 2018 (“DPA”) and the Data Protection, Privacy and Electronic Communications (Amendments etc.) (EU Exit) Regulations 2019 and any laws or regulations ratifying, implementing, adopting, supplementing or replacing the forgoing; in each case, to the extent in force, and as such are updated, amended or replaced from time to time.
Data Controller – means the entity which alone or jointly with others determines the purposes and the means of the processing of Personal Data.
Data Processor – means the entity which processes Personal Data on behalf of a Data Controller.
Data Subject – refers to any individual person who can be identified, directly or indirectly, via an identifier including but not limited to a name, an ID number, location data, or via factors specific to the person’s physical, physiological, genetic, mental, economic, cultural or social identity.
Fees – means any fees, tariffs and charges that are due to FMPay from the Client under the Agreement or otherwise as stemming from the provision of Payment Services.
FMPay Dashboard – means an information management account where the Client can perform different operations relating to Payment Services.
FMPay Website – means website owned and operated by FMPay which is available by the means of the following link https://fmpay.me/
Intermediary Institution – means an institution which participates in the process of effecting the Payments.
Client’s Application – means an application developed by FMPay and submitted by the Client to FMPay, whether in electronic or in other tangible form, detailing information regarding: (i) company’s information, (ii) company’s owners, (iii) director(s) and representative(s), (iv) business information, and (v) intended use of the Payment Services.
Client Credentials – means credentials used to authenticate the Authorised User when logging into the FMPay Dashboard and/or connecting via API, including but not limited to login, password, API key, and certificate.
Micro-enterprise – means an autonomous enterprise whose annual turnover and /or balance sheet total does not exceed €2 million and employs fewer than 10 (ten) people.
Other Charges – means any fines, fees, charges or expenses of any nature which Intermediary Institutions levy on FMPay at any time directly or indirectly in relation to any aspect of FMPay’s relationship with the Client.
Service Schedule – means Schedule setting out information about the entity accepted as the Client, type of the Payment Methods that the Client can utilise, Fees for Payment Services provided, together with other additional specifications relating to the Payment Method in question.
Payment – means an act of placing, transferring or withdrawing funds, irrespective of any underlying obligations between the payer and the payee.
Payment Account – means an account opened by FMPay to the Client which allows to effect Payments.
Payment Method – means a manner in which the Client may receive and send Payments, such as Faster Payments, BACS, SEPA, SWIFT, Visa Direct, Mastercard MoneySend, UnionPay MoneyExpress.
Payment Order – means an action or instruction to FMPay to initiate a Payment.
Payment Sub-account – means a sub-account in a different currency opened for the same Client that exists alongside the Payment Account.
Personal Data – has the meaning given to it in the Data Protection Legislation, as amended from time to time, and is any information relating to the Data Subject.
Privacy Notice – means a document detailing the manner in which FMPay protects personal data as is available by means of the following link: https://fmpay.me/resources/privacy-policy
PSRs 2017 – means the Payment Services Regulations 2017.
Payment Service – means all services rendered by FMPay to the Client under the Agreement.