Terms of Service

1. Parties, Trading Name and Scope

1.1 Parties

These Terms and Conditions ("Terms") govern the relationship between:

• Quantifin Ltd, a company incorporated in Ontario, Canada and registered as a Money Services Business (MSB) with FINTRAC, doing business as "GLPay" (the "Trading Name" or "GLPay");
• Any individual or legal entity that opens or uses a GLPay account or any GLPay services ("you", "Client", "User").

1.2 Trading Name and Trademark

"GLPay" is the proprietary trading name and trademark owned and controlled by Quantifin Ltd. All services offered under the GLPay brand are legally provided exclusively by Quantifin Ltd. There is no separate legal entity incorporated under the name "GLPay".

1.3 Scope of the Agreement

These Terms apply to all GLPay wallet and payment services, including without limitation:

• Multi-currency wallet accounts;
• Domestic and cross-border payments and remittances;
• Foreign exchange (FX) conversion;
• Card issuing and card-based payments (where available);
• Fiat legs of crypto-related flows performed via third-party regulated virtual asset service providers ("VASPs"), where permitted.

By registering for, accessing or using any GLPay service, you confirm that you have read, understood and agree to be bound by these Terms.

2. Regulatory Status and Legal Provider of Services

2.1 Legal Service Provider

The sole legal provider of GLPay services is Quantifin Ltd. Any reference to "GLPay", "we", "us" or "our" in these Terms means Quantifin Ltd acting under its trading name and trademark "GLPay".

2.2 Registration and Oversight

Quantifin Ltd:

• Is registered as a Money Services Business with FINTRAC (Canada);
• Operates in line with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated regulations;
• Works with regulated banks, electronic money institutions (EMIs), payment service providers (PSPs) and licensed VASPs in applicable corridors.

GLPay is not a deposit-taking bank and client funds are not covered by any deposit insurance scheme. Client funds are held in segregated or safeguarded accounts with regulated partners, in accordance with applicable requirements and our internal policies.

3. Eligibility, Onboarding and Client Classification

3.1 Eligibility Criteria

To use GLPay, you must:

• Be at least 18 years old (for individuals) and have full legal capacity;
• Act on your own behalf or, for entities, through a duly authorized representative;
• Not be resident, incorporated or primarily operating in a banned or prohibited jurisdiction under our Country Acceptance Policy;
• Not be a sanctioned person or otherwise restricted under applicable sanctions regimes.

3.2 Know Your Customer / Know Your Business

Before activating or continuing to provide services, GLPay will perform KYC/KYB and other due diligence checks. You agree to:

• Provide complete, accurate and current information and documents;
• Promptly notify us of any changes (ownership, control, residency, business activity, authorised representatives, etc.);
• Cooperate with Enhanced Due Diligence (EDD) where required.

We may decline onboarding, limit services, suspend or terminate your account where required by law, internal policies or risk assessment.

3.3 Client Types

We may classify you internally (for example, as individual, SME, remittance partner, merchant/PSP), solely for risk and product configuration purposes. Such classification does not change your legal rights but may impact available features, limits, pricing and monitoring intensity.

4. GLPay Wallet and Core Services

4.1 Multi-Currency Wallet

The GLPay wallet is a ledger-based, multi-currency account environment that allows you to:

• Hold balances in supported currencies (e.g., CAD, EUR, USD, GBP, CHF and others if made available);
• Receive funds via supported rails (e.g., SEPA, SWIFT, Interac, Faster Payments, local rails and PSPs);
• Send funds to other GLPay users (wallet-to-wallet) and to external bank/EMI accounts;
• Use funds for card payments, FX and payouts.

Your wallet balance represents a claim on Quantifin Ltd to instruct the relevant partner bank/EMI to hold and move funds on your behalf in accordance with these Terms and applicable law.

4.2 Funding the Wallet

You may fund your GLPay wallet via:

• Bank or EMI transfers in supported currencies and corridors;
• Incoming payments from other GLPay users;
• Incoming payments from approved business partners and platforms.

We may reject, return, hold or freeze incoming funds if:

• Required by law or by a competent authority;
• The transfer breaches, or appears to breach, AML/CTF, sanctions or other regulatory requirements;
• The sender, route, purpose or documentation are not acceptable under our risk appetite or that of our partners.

4.3 Payments, Withdrawals and Payouts

You may instruct us to send funds from your GLPay wallet:

• To your own external bank/EMI accounts;
• To third-party beneficiaries, subject to screening, validation and risk checks;
• Through supported remittance channels and payout partners.

Execution times and availability depend on clearing systems, partners, cut-off times, currencies, jurisdictions and any additional checks required. We are not responsible for delays or failures caused by correspondent banks, EMIs, PSPs, payment networks or other third parties outside our reasonable control.

4.4 Wallet-to-Wallet Transfers

Transfers between two GLPay wallets are typically processed off-chain on our internal ledger and may settle near-instantly, subject to risk and system checks. We may apply limits or delay a transfer if required for compliance or technical reasons.

4.5 Foreign Exchange (FX)

We provide FX conversion through regulated liquidity providers and partners:

• When you request an FX transaction, you authorize us to execute it at the rate presented to you (inclusive of any margin or spread) at the time of confirmation;
• FX rates are dynamic and may change rapidly; a quoted rate is only guaranteed at the moment of execution;
• FX margins, fees and spreads form part of our revenue model.

4.6 Cards and Payment Instruments

Where available, GLPay may offer:

• Virtual and/or physical cards issued by partner banks or EMIs;
• Card spending funded by your GLPay wallet balances;
• Support for digital wallets (e.g., Apple Pay / Google Pay) where integrated.

Card usage is governed in addition to these Terms by the applicable cardholder terms, scheme/network rules and partner conditions. You must:

• Keep card data and PIN secure;
• Notify us immediately in case of loss, theft or suspected compromise;
• Not share cards or credentials with unauthorized persons.

4.7 Crypto-Related Flows (Fiat Legs)

Where permitted and only via licensed VASPs:

• GLPay may facilitate fiat-to-crypto and crypto-to-fiat flows for wallet users and remittance clients;
• Quantifin Ltd does not issue, hold or directly exchange virtual assets — custody and exchange are provided by regulated third-party VASPs under their own licenses and terms;
• Only supported assets and networks are allowed; privacy-enhanced or untraceable assets may be prohibited;
• Additional due diligence, limits, documentation and cooling-off periods may apply.

5. Fees, Pricing and FX Margins

5.1 Fee Schedule

You agree to pay all fees and charges associated with your use of GLPay services, which may include:

• Funding and withdrawal fees;
• Domestic payment and cross-border remittance fees;
• FX margins and spreads;
• Card issuance, replacement and transaction fees;
• Account maintenance or subscription fees where applicable;
• Additional charges for manual investigations or special services (if agreed).

Our current fee schedule is made available via the GLPay website or application. We may update fees from time to time. Material changes will be communicated with reasonable advance notice where practicable.

5.2 Authorization to Debit

You authorize Quantifin Ltd to deduct all applicable fees, charges and FX margins directly from your GLPay wallet balances at the time of the respective transaction or periodically, as applicable.

6. Your Responsibilities and Acceptable Use

You agree to:

• Use GLPay services only for lawful purposes and in compliance with all applicable laws and regulations;
• Refrain from using GLPay for any prohibited activity, including but not limited to fraud, money laundering, terrorist financing, sanctions evasion, illegal gambling, prohibited virtual asset schemes, tax evasion or other criminal conduct;
• Not attempt to circumvent controls, limits, monitoring, sanctions or onboarding requirements;
• Maintain accurate and updated information and promptly notify us of any changes;
• Keep your login credentials, security codes, devices and cards secure and not share them with unauthorized persons.

We may introduce, modify or apply:

• Transaction and volume limits;
• Corridor-based restrictions;
• Velocity and behavioral controls;
• Additional authentication steps.

7. Compliance, Monitoring and Information Requests

7.1 AML/CTF, Sanctions and Risk-Based Approach

Quantifin Ltd applies a risk-based compliance framework aligned with FINTRAC, FATF and other relevant guidance. You acknowledge and agree that we:

• Screen clients and transactions against sanctions, PEP and adverse media lists;
• Classify clients and transactions by risk and apply EDD where needed;
• Continuously monitor transactional activity for unusual or suspicious behavior;
• May delay, block, reject or reverse transactions where required by law, partner rules or internal policies.

7.2 Information and Documentation Requests

We may at any time request additional information or documents, including but not limited to:

• Identification documents, proof of address, corporate documents;
• Source of funds and source of wealth evidence;
• Contracts, invoices and business documentation;
• Explanations of particular transactions, patterns or counterparties.

You agree to provide such information accurately and within requested timeframes. Failure or refusal to do so may result in restrictions, suspension or termination.

7.3 Regulatory Reporting

Where required by law, we may:

• File suspicious transaction/activity reports and other mandatory reports with FINTRAC and other competent authorities;
• Share information with regulators, law enforcement and supervisory bodies.

Certain reporting obligations must be fulfilled without your knowledge or consent and we are legally prohibited from informing you in some cases.

8. Account Security, Errors and Unauthorized Transactions

8.1 Security of Access Credentials

You are responsible for:

• Keeping your login credentials, two-factor authentication tools, devices and cards safe;
• Ensuring only authorized persons have access to your account;
• Immediately notifying us if you suspect compromise of your account, card or devices.

8.2 Review of Activity

You must regularly review your account statements and transaction history. If you notice:

• Transactions you do not recognize;
• Errors, duplicates, unexpected charges;

you must notify us without undue delay via official support channels.

8.3 Investigation and Resolution

Upon receiving a notice of error or unauthorized transaction:

• We will start an investigation within a reasonable timeframe;
• We may request additional documents or information from you;
• We will determine whether the transaction was authorized, whether you complied with your security obligations, and whether any refund or adjustment is appropriate under law, scheme rules and our policies.

8.4 Liability Allocation

Subject to applicable law and specific card/network rules:

• You may be liable for losses resulting from your negligence, failure to keep credentials secure or deliberate misuse;
• We are generally not liable for losses caused by third-party failures outside our reasonable control (e.g., network outages, correspondent banks, PSPs, card networks), or by regulatory or sanctions actions.

Detailed allocation may be further specified in product-specific terms or applicable law.

9. Limitations of Liability

To the fullest extent permitted by applicable law:

• We are not liable for any indirect, consequential, special or punitive damages, including loss of profits, business, revenue, contracts, goodwill or data;
• Our total aggregate liability to you arising out of or in connection with GLPay services and these Terms in any rolling 12-month period shall not exceed the total fees you have paid to us in that period, or such other cap as may be agreed in a written contract with you.

Nothing in these Terms excludes or limits any liability which cannot be excluded or limited under applicable law.

10. Complaints and Consumer Protection

If you are dissatisfied with our services, you may submit a complaint using the channels indicated on our website or app. Our complaint handling, error resolution and consumer rights processes are further described in our Privacy and Consumer Protection Policy.

We will:

• Acknowledge your complaint within a reasonable time;
• Investigate it objectively and in good faith;
• Provide a reasoned response and, where applicable, propose remediation.

In some jurisdictions you may have the right to escalate complaints to external bodies or regulators.

11. Privacy and Data Protection

Processing of your personal information is governed by our Privacy and Consumer Protection Policy, which is incorporated by reference into these Terms.

By using GLPay, you acknowledge that:

• Your information may be processed and stored in Canada and other jurisdictions;
• Personal data may be shared with banks, EMIs, PSPs, VASPs, processors and other partners as necessary to deliver services and comply with legal obligations;
• In some cases, foreign authorities may have lawful access to data processed in their jurisdiction.

You should carefully review the Privacy and Consumer Protection Policy for details on your rights and our obligations with respect to personal information.

12. Changes to Services and Terms

We may from time to time:

• Modify, add or discontinue certain products, features or corridors;
• Update these Terms and other policies.

Where required or appropriate, we will provide notice of material changes in advance. If you do not agree with updated Terms, you must discontinue use of GLPay and request account closure. Continued use after changes become effective constitutes your acceptance of the updated Terms.

13. Suspension, Restriction and Termination

We may suspend, restrict or terminate your access to GLPay, in whole or in part, if:

• Required by law, court order, regulator, sanctions authority or law enforcement;
• You breach these Terms, other applicable policies, or partner rules;
• Your activity presents, in our reasonable opinion or that of our partners, an unacceptable AML/CTF, fraud, sanctions or operational risk;
• We decide to cease providing services in a certain jurisdiction or discontinue certain products.

Upon termination, and subject to legal and regulatory requirements:

• We will, where permitted, allow you to withdraw remaining funds to a verified bank/EMI account;
• We will retain records for the legally required period even after account closure.

You may request closure of your account at any time, subject to fulfilling outstanding obligations and providing any required information.

14. Intellectual Property

All intellectual property rights in and to:

• The GLPay name, logo, design and brand;
• Our website, applications, software, technology, documentation and content;

are owned by Quantifin Ltd or its licensors.

You are granted a limited, non-exclusive, non-transferable, revocable license to use GLPay services and interfaces solely for your own legitimate purposes under these Terms. You may not:

• Copy, modify, reverse-engineer, distribute or create derivative works from our software or content;
• Use our trademarks or branding except as expressly permitted in writing.

15. Governing Law and Jurisdiction

These Terms and any non-contractual obligations arising out of or in connection with them are governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein, unless mandatory consumer protection rules in your place of residence provide otherwise.

Any dispute that cannot be resolved through our complaints process may be brought before the competent courts of Ontario, Canada, subject to mandatory jurisdictional rules.

16. Miscellaneous

• If any provision of these Terms is found invalid or unenforceable, the remaining provisions remain in full force and effect.
• We may assign or transfer our rights and obligations under these Terms in connection with a merger, acquisition, reorganization, sale of business or similar transaction, subject to applicable law.
• You may not assign your rights or obligations under these Terms without our prior written consent.
• Section headings are for convenience only and do not affect interpretation.

17. GLPay Web Portal and Mobile Application

17.1 GLPay Web Portal

GLPay provides a secure web-based portal accessible at glpay.at through which you may access your wallet, initiate transactions, manage your account settings, view transaction history and perform other actions related to GLPay services. Use of the web portal is subject to these Terms and you are responsible for ensuring the security of any device and browser used to access it.

17.2 Mobile Application

GLPay intends to offer a mobile payment application for iOS and Android devices. When available, the GLPay mobile app will allow you to access your wallet, send and receive payments, perform FX conversions and manage your account on the go. The mobile app will be subject to these Terms, as well as any additional terms presented within the app and the applicable app store terms of service.

17.3 Access and Availability

We aim to maintain the availability of the web portal and mobile application at all times but do not guarantee uninterrupted access. Service may be temporarily unavailable due to scheduled maintenance, updates, technical issues or circumstances beyond our reasonable control. We shall not be liable for any loss or inconvenience arising from any inability to access the platform.

17.4 System Requirements

You are responsible for ensuring that your device, operating system and browser meet the minimum requirements necessary to access GLPay services. We may discontinue support for older software versions at our discretion with reasonable notice.

18. Cookies and Analytics

18.1 Use of Cookies

The GLPay website and web portal use cookies and similar technologies to:

• Ensure the proper functioning of the platform and maintain your session;
• Remember your preferences and settings;
• Enhance the security of your account and detect fraudulent activity;
• Analyse usage patterns to improve our services and user experience.

18.2 Types of Cookies

We may use the following categories of cookies:

• Strictly Necessary Cookies: Required for the operation of our platform, including authentication, session management and security.
• Functional Cookies: Enable enhanced functionality and personalization, such as language preferences and display settings.
• Analytics Cookies: Help us understand how visitors interact with our website and services, allowing us to improve performance and usability.

18.3 Analytics

We may use third-party analytics services to collect and analyze anonymous or aggregated usage data. This data helps us understand user behavior, optimize our services and improve overall platform performance. Analytics data is processed in accordance with our Privacy Policy.

18.4 Managing Cookies

You can manage or disable cookies through your browser settings. Please note that disabling certain cookies may affect the functionality of the GLPay platform and your ability to use some features. For more information on how we handle your data, please refer to our Privacy Policy.