PayCools

This Privacy Policy (“Privacy Policy”) by Payment Innovations Inc. (the “Company,” “PayCools,” “we,” or “us”) applies to persons (collectively “Users”) using the PayCools Platform, system, website, link, and service (collectively referred to as the "Service"). This Privacy Policy shall set forth how PayCools collects, uses, processes, stores, shares, and protects your Personal Data in accordance with the Republic Act No. 10173 or the Data Privacy Act of 2012, its Implementing Rules and Regulations, and other issues of the National Privacy Commission (the “Data Privacy Legislations”).

Please read this Policy carefully before using or submitting any information, including, without limitation, our products, services, or websites (collectively "Services"). If you do not agree with this Policy, please stop using any of our Services or interacting with us. Unless otherwise required by laws in the Philippines, your continuous use of our Services shall be deemed as your acceptance of this Policy.

We may update this Policy at our own discretion at any time, and such updates will be effective immediately upon posting on any of the Services. In such cases, we encourage you to periodically check for updates to this Policy. This Policy is available on our website for your information and reference. Your continued access or use of the Service after the posting and/or notifications of such amendments, modifications, and/or updates confirms your acceptance and consent to be bound by the Privacy Policy, as amended.

Depending on the actual PayCools Services you selected, you may enter into one or more agreements (collectively “Agreements”) with PayCools. Those agreements may contain additional terms regarding privacy and our use of information about you.

What information we collect about you

We collect information from or about you when you provide it to us and when you access and use PayCools Services. The information includes:

Profile Information - We will collect information to conduct KYC checks. The information we collect includes, without limitation, your name, company name, business information, copies of the business/company documents, and other related information for authentication and our internal risk management. Furthermore, your address, phone number, email, or other information that allows us to contact you will also be collected.
Account Information - To provide the Service, the account information we collect includes the account and corresponding password to log in to our Service.
Financial Information and Tax Identification Information - This includes bank and payment information, as well as tax details.
Transaction Details - These are collected for processing specific transactions.
Technical Information - This includes information about the device you use to interact with us and information from your visits to our websites or mobile applications.

However, PayCools may also collect, from time to time, any other information not mentioned above, as it deems necessary and, subject to your consent, to maintain your account in the Service to allow you to continuously use and access PayCools’ Services.

How we obtain your information

Aside from your Personal Information, we collect your information when you browse our website, inquire about, or register to use any of our Services ("Automatically Collected Information"). Further information is collected when you sign a contract with us, provide your information to us in person, log into your PayCools account to use our Services, or when you communicate with us via email, phone, or any other means.

We also receive information about you from other sources, including:

Merchants and other third parties, including those who support the ability to make payments and conduct transactions through our Services.
Our affiliates.
Banks and other payment institutions that we cooperate with to provide you with the Services.
Publicly available sources.

We may combine information that we have about you from various sources, including the information you have provided to us, for purposes stipulated under the Data Privacy Legislation.

How we use your information

We use the information to operate our business and provide you with our Services. PayCools may use, process, and even disclose your information for the following purposes:

To verify your identity during account creation, payment password reset processes, and other processes where identification is needed.
To verify your eligibility to use our Services.
To process, maintain, and manage your registration.
To provide you with our Service, including, without limitation, operating the Services and enabling transactions, customizing your user experience, enabling the receipt of balance top-ups, financing proceeds and third-party payments, facilitating the settlement of payment for goods and services, and providing other fund settlement services. This also includes handling foreign exchange conversions, refunds, sending notices about transactions, and responding to your queries, feedback, claims, or disputes.
To contact you in relation to our Services, including, without limitation, asking you for feedback about PayCools Services or other related products and services, collecting feedback from you about our Services, and using such feedback to improve our products and services. This also includes sending you information about our Services for promotional purposes and contacting you for legal purposes.
To assess, detect, investigate, prevent, or remediate fraud, data breaches, or other potentially prohibited or illegal activities, and otherwise protecting the integrity of our Service.
To manage our risk, perform creditworthiness and solvency checks, or detect, investigate, prevent or remediate violations of the Agreements or any of our applicable policies, industry standards, guidelines, requirements of regulatory authorities, laws and regulations, etc.
To make disclosures as may be required by any rules, laws, or regulations, regulatory authorities, government officials, or other third parties when needed, including any payment network. Such disclosures may also be made pursuant to any subpoena, court order, or other legal process or requirement applicable to us or any Affiliates (including “know your customer,” anti-money laundering, counter-terrorist financing reporting, tax requirements, or other commercial disputes).
To make disclosures to third parties, including relevant regulators, to prevent any harm or financial loss, to report suspected illegal activity, or to establish, exercise, or defend claims or potential claims on behalf of ourselves or our Affiliates.
For the purpose of improving and optimizing our Services.
For managing our business, including protecting users, preventing harm, fraud or theft to ourselves or others, maintaining the security of our products, and protecting our rights or property and those of others.
Otherwise for daily business purposes, to comply with the law, or in other ways for which we provide specific notice at the time of collection.

With whom do we share your information

There are various circumstances in which we may need to disclose or share some of your information. In these cases, we ensure that your information is disclosed on a confidential basis, always subject to the applicable rules and regulations of the Data Privacy Act.

We will never share, rent, or sell your personal information to third parties outside PayCools (or the group of companies of which PayCools is part) except in special circumstances where you have given your consent, and as described in this Policy. In some situations, we may be required to disclose your information to our agents, subsidiaries, affiliates, partners, and other third-party agencies as part of business operations and the provision of our products and services. This means we might share your information with:

Our partner companies, organizations, or agencies, including their subcontractors or prospective business partners that act as our service providers, contractors, professional advisers who help us provide our products and services. For example, our couriers for bill delivery and our customer contact centers for our hotline operations.
Our security partners who provide us with information and services to protect against fraud and abuse. For example, information about security threats can help us notify you if we think your account has been compromised (at which point we can help you take steps to protect your account).
Law enforcement and government agencies.
Other companies to whom you have given consent to share your information.

We share your information to operate and manage our business, including for the purposes indicated under "How we use your information." We may share your information with:

Affiliates.
Third parties, including any agent, contractor, or third-party service provider that we work with in providing our Services. For example, we work with third parties to help us with fraud prevention, anti-money laundering checks, credit checking, bill collection, data entry, database management, promotions, marketing, customer service, technology services, product and service alerts, and payment extension services or to provide trade financing services.
Banks, card associations, payment networks, or acquiring institutions, and others, including those involved in processing payments and conducting transactions through PayCools Services.
Law enforcement agencies, insurers, government and regulatory authorities, or any other organizations to which PayCools, or any Affiliate or third-party service provider, is obligated to make disclosure under the requirements of any applicable law, regulation, or commercial arrangement.
Individuals and entities involved in any merger, acquisition, corporate reorganization, financing, or similar transaction with us, including in the event of the sale of all or part of our assets.
Our own and others' professional advisors (e.g., lawyers, accountants, auditors, and trustees).

How do we store and protect your information

Unless otherwise specified in the Agreements or other effective documents between you and PayCools, we will keep your information in accordance with our policies and for as long as necessary to provide you with the Services or other purposes as set out in this notice. Additionally, we may retain information for a longer period, including after you no longer use our Service, if it is necessary to comply with laws and regulations applicable to us.

We employ a variety of security measures—physically, technically, and organizationally—designed to help protect your information from unauthorized access, use, disclosure, alteration, or destruction, consistent with applicable data protection and privacy laws and regulations. You are responsible for maintaining the confidentiality and security of your account information (username, password, etc.) for our Services in your possession or control.

Changes to this policy

Last Updated: 1 June, 2023

We may change, amend, or revise this Policy from time to time. In the event of any substantive or material change in this Policy, we will notify you via email or phone.

transfers of your information outside the philippines

In most cases, your information will be processed in the Philippines, where our servers are located. PayCools will only transfer your information overseas when necessary and will ensure compliance and legality under applicable Privacy Laws. We promise to implement appropriate measures to ensure that the information remains protected and secured when transferred overseas.

your rights with respect to your information

As a Data Subject, you have the following rights under the Data Privacy Act of 2012:

The right to access the information you have entrusted to us, provided that such information is not deemed confidential or proprietary by PayCools, or that your request for your information is reasonable and has a lawful reason.
The right to suspend, withdraw, or order the blocking, removal, or destruction of your information in our processing systems upon the discovery and substantial proof that your information is no longer necessary for the purpose or purposes for which it was collected, and for such other cases provided in the Data Privacy Act of 2012. We will close your account in the system but will have to retain related account information in compliance with the retention period prescribed by other laws, including, without limitation, the Anti-Money Laundering Act.
The right to update your information in our system if the information you provided is not complete or updated, in relation to your rights to rectification.
The right to seek indemnity for damages sustained, if any, due to inaccurate, incomplete, outdated, false, unlawfully obtained, or unauthorized use of your information.
The right to file a complaint with the National Privacy Commission for any violation of your data privacy rights.

If you feel that there has been mishandling or misuse of your information or that any of your privacy rights have been violated, you may email us at dataprotection@paycools.com

If you have questions or requests about this Policy, please contact us through the contact details provided below:

Data Protection Office: dataprotection@paycools.com
Customer Support Email: csr@paycools.com

Terms and Conditions

Last Updated: 1, June 2023 Effective Date: 30 days from last update

1. introduction
1. These Terms & Conditions (T&Cs) govern the terms under which you may access and use the products and/or services provided by PAYMENT INNOVATION INC. (PayCools, we, us, our), duly licensed by the Bangko Sentral ng Pilipinas (BSP). We provide online payment services through the PayCools System, PayCools link, PayCools Website, and related services (collectively “Services”).
2. The terms “you” and “your” refer to users of the Service, whether as a Merchant or Customer, Sender or Recipient, or other users of our Services.
3. Please read these T&Cs as well as other Policies before accessing or using our Services, communicating with us, and/or submitting information to us. Your continuous use of any/all part of the Services will be deemed as your consent to these T&Cs, as well as other Policies. If you do not agree to these T&Cs, please stop using our Services and do not choose “I have read, understand, and agreed to the T&Cs and Privacy Policy.”
4. These T&Cs shall be effective, valid, and binding from the time you agree or the time you use the Services. These T&Cs will be in full force and effective up to the time of expiration or termination by you or us, except for specific provisions that shall remain effective after termination, as stated in these T&Cs, under applicable laws, regulations, or rules.
5. Depending on the specific services you requested, other contracts and/or agreements (collectively as “Agreements”) may be signed between you and us. These T&Cs and the Agreements jointly constitute the effective legal documents between you and us. Both parties shall abide by these T&Cs and the Agreements.
6. We may amend, modify, and change these T&Cs at any time in our discretion. Please check this page periodically to ensure the current version.

Pursuant to these T&Cs, especially concerning specific transactions, if you are entitled to a refund of any payment or fee made in respect of the Services, please contact us at csr@paycools.com and follow our instructions for processing and/or verifying your refund request. Please note that refund requests made by you are subject to our standard operating procedures, and we do not guarantee or represent that all refund requests will be allowed.

2. The Services
1. Application - To use specific features, products, and/or services provided by PayCools, you agree to submit an application and required information, documents, and/or materials under applicable requirements by laws. You may apply for a specific service provided by us by issuing a written application, expressly indicating your request.
2. You may use the Services upon the permission of PayCools in writing. We reserve the right to refuse and/or withdraw any application at our own discretion.
3. You are responsible for submitting true, complete, accurate, and current information for the application. You represent and warrant that the information you submit is authorized and lawful.
4. We are not obliged to process any particular transaction. When you submit a request for a transaction, you are requesting that we process the transaction on your behalf and consenting to the execution of the transaction. We may, in our sole discretion, choose whether or not to process that transaction. If we decide not to process the transaction, we will notify you promptly of that decision and repay to you the Transaction Amount received by us, provided that we are not prohibited by law from doing so. If we choose to proceed with the transaction, we may still suspend or cancel it at our discretion, as well as our channel partner.
5. If we have executed the transaction in accordance with your request, and the request proves to have been incorrect, we are not liable for the incorrect execution of the transaction. However, we will still make reasonable efforts to recover the funds. We may charge you a reasonable fee, reflective of our efforts to do so. Please ensure the information you submit per transaction.
6. We reserve the right to suspend, block, cancel, and/or terminate a transaction and/or account in the event that we have reason to believe the transaction or account may be related to illegal or prohibited activities, or used for fraudulent or suspicious business or by an unauthorized person. We may, but have no obligation to, inform you prior to suspending, blocking, canceling, or terminating the transaction, account, or Services. You shall hold us free and harmless from any and all consequences of such suspension, blocking, cancellation, or termination, or any loss or damage arising thereof.
3. Fees and Charges
1. We are entitled to collect the service fee in accordance with the specific service you acquire from us.
2. You agree that we are entitled to deduct the corresponding fees from the amount of payment in real-time. You are responsible for ensuring the sufficiency of the amount in your account.
3. We reserve the right to amend the rate of the service fee by giving thirty (30) days' advance notice to you. Such notice shall be deemed an integral part of these T&Cs.
4. We are not responsible and shall not be held liable for the payment of any fees, taxes, duties, or any other form of payment that may arise from your transactions with others.
5. For the avoidance of doubt, the fee and any other payment paid by you to us are exclusive of any taxes, goods and services tax, and other forms of duties or tariffs assessed to be payable to the relevant tax authority or other governmental authorities, and such amounts shall be paid by you in addition to the fee.
4. Your obligation
1. You are responsible:
  1. To ensure the information you submit is true, accurate, current, and complete.
  2. To ensure sufficient funds in your account for the purpose of your transaction request.
  3. To ensure you are lawful and authorized to use the Services.
  4. To ensure that the Services are not used for any unlawful or prohibited activity under applicable laws, regulations, and rules, including but not limited to online betting and/or gambling activities.
2. You agree not to alter, modify, or cause the alteration or modification of the Services unless with prior written consent from us.
3. You agree not to use any “deep-link,” “page-scrape,” “robot,” “spider,” or other automatic device, program, algorithm, or methodology, or any similar or equivalent manual process, to access, acquire, copy, or monitor any part of the Services or in any way reproduce or circumvent its navigational structure or presentation. Additionally, you agree not to obtain or attempt to obtain any material, document, or information through any means not purposely made available through the Services.
4. You agree not to gain or attempt to gain unauthorized access to any part or feature of the Services or to any other system or network connected to the Services. You also agree not to gather, harvest, or otherwise collect information about others using the Services without their explicit informed consent. Nor should you restrict, prevent, or prohibit any other party from using the Services, including actions that may tend to discourage others from using the Services, such as stalking, flaming, or lashing out at other parties, spamming, or sending unsolicited information, advertisements, or content, flooding, or sending repetitive messages, trolling, or using insulting or deliberately divisive information, material, or content, among other forms of annoyances.
5. You agree not to circumvent, disable, or otherwise interfere with security-related features of the Services, including those that prevent or restrict the use or copying of any content, material, or information available on or through the Services, as well as those that enforce limitations on the use of the Services.
6. You agree not to probe, scan, or test the vulnerability of the Services or any network connected to it, and not to breach the security or authentication measures on the same. You also agree not to reverse look-up, trace, or seek to trace any information on any user of or visitor to the Services or exploit the Services or any information made available or offered by or through the Services in any way where the purpose is to reveal any information, including but not limited to personal identification, other than your own information.
5. limitation of liability
1. To the fullest extent permitted by law, we are not liable to you or any third party for any claims, loss, damages, costs, and expenses (including, without limitation, any direct, indirect, consequential, or incidental loss or damage) arising out of or resulting from any negligent and/or fraudulent act and/or willful default to these terms and conditions by you or a third party.
2. The services provided by PayCools are on an "as is" basis. We promise to adopt reasonable measures to keep the availability and operation in good condition. However, we do not guarantee that the Services will be completely error-free or never-interrupted, as there are objective reasons out of our control, including but not limited to the network, telecommunications, and internet connections.
3. We shall have no obligation under the following situations:
  - Dispute between you and a User relating to the subject matter of the commercial transaction between you and the User.
  - Dispute between you and a User relating to a transaction that occurs due to no fault of ours.
  - The refusal of any party to receive/make payment through our Services.
  - Disclosure of your login details, password, authentication, and any other related biometric details to a third party, thus compromising the security of your PayCools Account.
  - Any disclosure of information or security matters related to or connected to the incidental services provided by other telecommunication service providers to support the use of the PayCools Services.
  - Any technical, software, or hardware issues that may arise from PayCools Services.
4. Subject to the terms and conditions hereunder, PayCools’ entire liability to you in contract, tort (including negligence or breach of statutory duty), or otherwise arising by reason of or in connection with your use of the Service shall not exceed the service fee we have collected from you during the last twelve (12) months and shall not include any other loss or damage, including indirect, special, consequential, incidental, exemplary, or punitive damages, such as loss of profits, production, or revenues.
6. Indemnity
1. You agree to indemnify and hold us, and our subsidiaries, affiliates, directors, officers, agents, and employees, harmless from and against all suits, actions, demands, claims, losses, liabilities, damages, expenses and costs whatsoever arising under any laws of Philippines (including all legal fees), made by any third party due to or arising out of or resulting from your breach of any of these T&Cs or through any default, omission or negligence on your part in your use of the Services.
7. suspension and termination
1. We are entitled to suspend or terminate your Account at any time with immediate effect and terminate these T&Cs as against you without notice in the following situations:
  1. You are in breach of any of the T&Cs or obligations under other documents.
  2. You have contravened or are found in breach of any applicable laws, regulations, or rules.
  3. We have reason to believe that you are involved directly or indirectly with fraud, money laundering, or other illegal and/or criminal activities.
  4. We are no longer a holder of the requisite approval or license to provide the Services.
  5. If we receive instructions from the police or other investigating governing bodies and/or regulatory authorities to terminate your Account.
2. In addition to the rights to terminate hereunder, we reserve the right at any time, without notice to you and without owing any liability to you, to modify, suspend, discontinue temporarily, limit the usage, or freeze your Account, transaction, or Service in its entirety or in parts related to certain functionalities, at its sole and absolute discretion, for any duration upon your breach of these T&Cs, Agreements, and/or applicable laws, due to security concerns, suspicions of unlawful activities, or unexpected technical, system, maintenance, fixes, bugs, or other related issues. The exercise of our rights under this paragraph does not prejudice or prevent us from exercising our right to terminate.
3. Upon termination or suspension according to Clause 8 of these T&Cs, your Account will not be able to effect or carry out any transactions, and your Account will remain as such pending further instructions from the relevant regulatory authorities.
4. In the case of a terminated account, the balance available in your Account at the point of termination will be encashed and transferred to your Designated Bank Account without any additional cost other than that which is necessary to complete the transfer back to you within thirty (30) calendar days after the termination, subject to appropriate security checks by us, and provided that such return is not prohibited by the relevant regulatory authority and does not compromise or affect investigations related to your Account (if any).
5. Notwithstanding termination or suspension, you remain responsible and liable for all obligations attributable to your Account prior to any event of termination, and we are permitted to pursue any of its rights and/or remedies accruing from such liability.
6. You may terminate the Service by giving thirty (30) calendar days' prior written notice to PayCools, which shall include submitting the required written notice or any other method advised and agreed upon by us. Notwithstanding the aforesaid, you shall be responsible for settling any outstanding amount due to PayCools prior to termination.
8. Represents and warranties
1. By accepting these T&Cs, you represent and warrant to us that you:
  1. Are of sound mind and have the full capacity to be legally bound by these Terms and Conditions.
  2. Have provided and will continue to provide true, accurate, current, and complete information as required to register and maintain your Account.
  3. Are not in violation of any applicable laws through your use of and access to the Services. There is no action, proceeding, claim, or investigation pending against you before any court or regulatory authority, particularly activities related to terrorism financing and money laundering.
  4. Will use the Service lawfully and in compliance with the applicable laws and these T&Cs.
9. Intellectual Property
1. All Intellectual Property rights to the designs, layout, presentations, graphics, software systems, hardware, and all other elements that form and design PayCools are owned, controlled, and/or licensed (as applicable) in favor of PayCools. They are protected by and governed under relevant laws related to copyrights, trademarks, or other intellectual property rights.
2. You are strictly prohibited from doing or attempting any of the following without the prior written consent of PayCools or the relevant copyright owners (as applicable):
  1. Decompile or reverse engineer, disassemble, attempt to derive the source code, or decrypt the Service.
  2. Make any modification, adaptation, improvement, translation, or derivative work to or from the Service.
  3. Violate any Applicable Laws during your access to the Application and use of the Service.
  4. Use the Service for any revenue-generating or commercial activity.
  5. Use the Service or the Application and/or each of its source code/design to create a service, product, or software that directly or indirectly competes with or substitutes for the Service.
  6. Use the Service to circulate unsolicited communications to other users/merchants/third parties.
  7. Use any Intellectual Property or proprietary information in the design, development, or distribution of any applications, accessories, or devices for use of the Service.
3. Your use of the Services shall not be construed as conferring any license or rights over the aforementioned materials. You shall not, without our prior written consent or the prior permission of such other owner to a trademark appearing on the Service (as appropriate), reuse or adopt any trademarks appearing or displayed on our Application, and nothing in these T&Cs shall be construed as granting you a license or right to use such trademarks.
10. Refund Policy

Pursuant to these T&Cs, especially concerning specific transactions, if you are entitled to a refund of any payment or fee made in respect of the Services, please contact us at csr@paycools.com and follow our instructions for processing and/or verifying your refund request. Please note that refund requests made by you are subject to our standard operating procedures, and we do not guarantee or represent that all refund requests will be allowed.
11. Confidentiality
1. You acknowledge and understand that PayCools may be required to disclose any information you provided, including your personal data, as part of the Service, where it is specifically required or permitted by law and for purposes related to the performance of these T&Cs. Where disclosure is required, PayCools will comply with the Data Privacy Act of 2012 (“DPA”) and the laws of the Philippines. The term 'personal data' shall have the meaning set out in the DPA.
2. You hereby acknowledge and consent that the information provided to PayCools will be disclosed or released to the necessary third-party service provider for the purpose of the Service.
12. Force Majeure

In the event of force majeure events beyond our control, we shall not be liable, in whole or in part, for non-performance, interruption, or delay in the performance of our obligations under these T&Cs and for any inaccuracy, inappropriateness, or unreliability of the Services. Such force majeure events include, but are not limited to, the outbreak of a pandemic, acts of sabotage, natural catastrophes, regulatory changes or directives, and failures or interruptions in utilities such as electricity, communications, or internet service providers or banking systems.
13. Miscellaneous
1. Disclaimer: Please be cautioned that your Account is subject to the risk and/or loss arising from us being insolvent, going into receivership, or carrying out reorganization.
2. Severability: If any provisions in these T&Cs are deemed invalid, void, or cannot be enforced under any law, such provisions shall be severed from these T&Cs. Such invalidity or unenforceability shall not affect the other provisions or parts of such provisions of these T&Cs, all of which shall remain in full force and effect. Parties shall use reasonable efforts to replace such provisions with a valid provision, the effect of which is closest to the intended effect of the invalid or unenforceable provision.
3. Partnership: We do not have, nor do we imply that there is any partnership, joint venture, or similar relationship between PayCools and you.
4. Waiver of Rights: No failure or delay by any party in exercising any right, power, or remedy under these T&Cs shall operate as a waiver. Nor shall any single or partial exercise of the same preclude any further exercise or the exercise of any other right, power, or remedy unless such a waiver is made in writing.
5. Governing Law: These T&Cs shall be governed by and construed in accordance with the laws of the Philippines, and you irrevocably agree to submit to the exclusive jurisdiction of the Philippines courts.
6. Assignment: The Service is personal to you, and you must not assign or otherwise transfer any rights and/or obligations connected to the Service to any third party without our prior written consent.
7. Language: All notices or formal communications under or in connection with these T&Cs shall be in the English language. Any translation of these T&Cs is provided solely for your convenience and is not intended to modify any of these T&Cs. The English version of these T&Cs shall be your primary reference in all respects and shall prevail in all cases of inconsistency with any translated versions.
8. Communication: If you have any inquiries or comments with respect to the Services, you may email our customer service team at csr@paycools.com
9. Versions: The most updated version of these T&Cs (indicated by the date stated herein) shall prevail over any previous versions.