ZIMPLER TERMS AND CONDITIONS (UPDATED 2023-11-02)
1. THE PAYMENT SERVICE PROVIDER
Zimpler AB (“Zimpler”) has company registration number 556887-9984 and its registered and visiting office at Wallingatan 2, 111 60 Stockholm.
Zimpler is a licensed payment service provider with authorization from the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) to provide (i) payment initiation services, (ii) account information services, (iii) execution of payment transactions and (iv) execution of payment transactions when the funds are covered by a credit facility.
2. THE PAYMENT SERVICE
Zimpler’s payment services allows you to:
- give Zimpler, as the account information service provider, consent to provide consolidated information on one or more payment accounts held by you with either another payment service provider or with more than one payment service provider (“AIS”);
- give Zimpler, as the payment initiation service provider, payment orders to initiate payment transactions from your payment account with another payment service provider to the Merchant (“PIS”); and
- receive payment transactions from the Merchant to a payment account held by you with another payment service provider (“Payout”).
PIS, AIS and Payout are jointly referred to as the “Service” herein.
3. AGENTS AND THIRD-PARTY PROVIDERS
When providing the Service, Zimpler may utilize services provided by third parties and/or legal entities that are agents in accordance with the Swedish Payment Service Act (SFS 2010:751), acting on behalf of Zimpler.
4. TRANSACTION FLOW AND DATA
Zimpler shall provide the Service in accordance with The Swedish Payment Service Act.
For PIS, the funds flow from your payment account with another payment service provider either to Zimpler which collects the funds on behalf of the Merchant or directly to the Merchant. The payment service is completed when Zimpler has initiated the payment transaction based on your payment initiation order to Zimpler.
5. CURRENCY CONVERSION
If a payment transaction is initiated from, or if a payment transaction is received on, a payment account holding another currency than the currency the Merchant trades in, Zimpler will, in the case of a PIS, convert the payment to the currency of the Merchant or, in the case of a Payout, from the currency of the Merchant to the currency held on your payment account. The currency conversion service is provided to you by Zimpler.
The exchange rate and foreign exchange fee applied by Zimpler is presented to you in the Advance Information Regarding Currency Conversion enclosed at the last page of the Terms and Conditions if the payment transaction is subject to currency conversion.
6. PERSONAL DATA
7. ELIGIBILITY TO USE THE SERVICE
To use the Service, you must be of such age as required by the Merchant and have the capacity to enter into legally binding agreements and the right to dispose of the assets available on your payment account.
You may not use the Service if the usage results in a breach of third-party agreements and you are personally responsible for all such breaches.
8. TRANSACTION TIME
PIS and Payout are carried out via general clearing systems, meaning that it might take up to three (3) banking days before the payment transaction is received on the receiving payment account.
9. KNOW YOUR CUSTOMER
All payment transactions made through the Service are subject to monitoring for the purposes of Zimpler complying with applicable laws and regulations regarding anti-money laundering and counter-terrorism financing. The policies and practices applied may vary from time to time and depending on conditions pertaining to you such as transaction patterns and geographical position. To comply with applicable laws and regulations, records may be kept, and additional information may be requested from you to establish matters such as identity, purpose of the payment transaction and origin of funds. By using the Service, you commit to provide Zimpler with all such information as may be deemed necessary.
11. LIMITATION OF LIABILITY
Zimpler shall in no case be liable for any economic loss, delay, or failure in performance of the Service to the extent such loss, delay or failure is caused by fire, flood, explosion, war, strike, embargo, governmental requirements, civil and military authority, data trespass, denial-of-service attack, unlawful action by you or any other cause beyond Zimpler’s reasonable control.
12. POTENTIAL FEES APPLIED BY THE BANK OR THE MERCHANT
When your bank executes a payment transaction initiated by way of PIS, a fee chargeable to your payment account may apply according to the terms and conditions between you and your bank. By using the Service, you acknowledge that you are solely responsible for all fees applied by your bank.
Zimpler does not charge you any fee for the provision of the Service unless the PIS or Payout requires currency conversion, cf. Clause 5. The Merchant may however charge you a fee for the Service which is regulated in the terms and conditions of the Merchant
If you notice an error or malfunction in the Service, have a question or complaint concerning the Service, these shall be submitted to Zimpler via e-mail to email@example.com. Zimpler shall answer your complaint by e-mail within fifteen (15) banking days in English or, by your choice, Swedish.
If any provision of these Terms and Conditions is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of these Terms and Conditions which shall remain in full force and effect. If any provision of these Terms and Conditions is so found to be invalid or unenforceable but would cease to be invalid or unenforceable if some parts of the provision were deleted or amended, the provision in question shall apply with such modification as may be necessary to make it valid and enforceable.
15. GOVERNING LAW AND DISPUTE RESOLUTION
These Terms and Conditions shall be governed by the laws of Sweden subject to any mandatory provisions under the laws of your country of residence. Disputes shall primarily be resolved by negotiations between you and Zimpler following a claim being filed by you in accordance with Clause 13. If you and Zimpler are not able to reach an amicable agreement regarding the claim, the dispute shall be resolved in accordance with the rules of civil procedure.