Legal

MERCHANT SERVICES AGREEMENT

This merchant services agreement (“Agreement”) is a legal and binding agreement between the Merchant and ALFAcoins. ALFAcoins may change or replace the Agreement at any time by written notification, which may be provided through the Website.

When applying for merchant services through our online application process or otherwise, by clicking the “agree to terms” button at the end of this agreement or by using the services defined below, you acknowledge that you have read and agree to be bound by (and that your company will be bound by) all terms and conditions of this agreement and all documents incorporated by reference. If you do not agree to be bound by the terms of this agreement, click the “decline” button at the end of this agreement and do not use our services.

In order to complete your application process you must sign and send us a copy of Notification, before your first payment request, providing all necessary information. The Merchant’s signatory on this Notification personally warrants that he or she is duly authorized to sign the Agreement on behalf of the party he or she is representing.

  1. Terms and Definitions
    1. The following terms used in the Agreement shall have the meanings set forth in this section:
      “Agreement”The present merchant agreement;
      “User”Any customer of the Merchant that uses the ALFAcoins payment gateway;
      “Cryptocurrency”Bitcoin, Litecoin and Ethereum, digital (crypto-) currency, distributed among users of such currency with neither intermediary nor central authority;
      “Deal”The purchase agreement or services agreement concluded between the Merchant and the User;
      “Merchant”A company or a person who wishes to accept Cryptocurrency as payment for goods and services;
      “Fiat currency”Currency that local governments have declared to be legal tender;
      “Parties”ALFAcoins and the Merchant;
      “Report”A statement submitted by ALFAcoins to the Merchant containing all necessary information about Deals and ALFAcoins fees;
      “Reporting period”A calendar month of the year;
      “Transaction”The transfer of a certain amount of Cryptocurrency from the User’s address (wallet) to ALFAcoins’s electronic address (wallet) which is confirmed by the Cryptocurrency nodes;
      “Website”Collection of information, texts, graphic elements, design, pictures, photos, videos and other intellectual property, as well as the software in the information system available over the Internet at network address https://www.alfacoins.com/.
    2. The remaining terms and definitions in the text of the Agreement are interpreted by the Parties according to the current regulations and common rules of interpretation of terms accepted by the Cryptocurrency community.
    3. The headings (of articles) of the Agreement are for convenience only and shall not affect the meaning or interpretation of the Agreement.
  2. Subject of the Agreement
    1. ALFAcoins agrees to act on behalf of the Merchant and to accept Cryptocurrency payments from the Users for consideration (service fees).
    2. The Merchant agrees to provide ALFAcoins with information specified in para. 3.1.1 – 3.1.3. of the Agreement that is necessary for ALFAcoins to fulfill its obligations under the Agreement.
    3. In order to ensure the fulfillment of obligations specified in para. 2.1 of the Agreement, ALFAcoins provides a personal account to the Merchant on its Website. The personal account includes a webpage that contains records of completed and ongoing Transactions and has electronic facilities that enable ALFAcoins to fulfill its obligations under the Agreement.
    4. ALFAcoins is not a financial intermediary and does not perform any operation subject to licensing requirements.
    5. Issues concerning delivery of goods or services to the User do not fall under the scope of the Agreement.
  3. Cooperation
    1. The Merchant sends an invoice to ALFAcoins for the Deal via ALFAcoins’ payment gateway integrated into the Merchant’s website. The invoice for the Deal contains:
      1. a number assigned to the Deal;
      2. a short description of the Deal;
      3. the price of the Deal.
    2. ALFAcoins processes the invoice for the Deal using its electronic facilities as follows:
      1. Assigns a number to the invoice;
      2. Creates a new electronic address (wallet) to accept the Cryptocurrency payment from the User;
      3. Defines the amount of the Crytocurrency that the User shall transfer in order to start the Transaction. The amount of Cryptocurrency payment is calculated considering the price of the Deal and the rate at which Cryptocurrency is exchanged for the Fiat currency;
      4. Converts the amount of the Cryptocurrency payment into the Fiat currency under the User’s order and accepts the converted sum as the payment for the Deal;
    3. ALFAcoins controls the Transaction and defines the Transaction status in relation to the actions of the Users and the confirmations of the Cryptocurrency nodes. The Transaction may be assigned with statuses specified on the Website. The Parties agree that the User is considered to have performed the obligations under the Deal once the Transaction gains the status COMPLETE which means that the Transaction has been confirmed by six or more Cryptocurrency nodes.
    4. The individual webpage that the Merchant has access to keeps records of any changes in the Transaction statuses.
    5. ALFAcoins records the User’s payment in the Fiat currency specified in the invoice for the Deal with a due consideration of Article 5 of the Agreement.
  4. Reports
    1. ALFAcoins submits to the Merchant a Report within 10 (ten) working days after the end of the reporting period.
    2. The Report refers to the obligations fulfilled by ALFAcoins during the reporting period, the payment amount for the Merchant and ALFAcoins's service fees.
  5. Financial terms
    1. ALFAcoins pays the Merchant the price of the Deal agreed to by the Parties in the Report out of the amount paid to ALFAcoins by the Users. ALFAcoins makes the payment upon the Merchant’s request within 2 (two) banking days, considering banking details of the Merchant mentioned in the Merchant’s personal account. Any banking service fees shall be charged to the Merchant.
    2. The Merchant is entitled to make a payment request once the relevant Transaction gains the Transaction status COMPLETE. If such payment has occurred within the reporting period before the Report is submitted, the Report shall subsequently refer to the payment.
    3. As consideration for the services rendered by ALFAcoins, the Merchant agrees to pay the applicable ALFAcoins service fees set forth on the Website or in the Merchant’s personal account. ALFAcoins may adjust service fees from time to time by publishing written notice on the Website or by notifying the Merchant via their personal account. If the Merchant does not terminate the Agreement, they shall be deemed to have accepted the service fees change.
    4. ALFAcoins withdraws service fees defined in para. 5.3 of the Agreement from the payment amount according to para. 5.1 of the Agreement; OR ALFAcoins withdraws the service fees defined in para. 5.3 of the Agreement from the User during the Transaction by adding the amount of the service fees to the sum specified in para. 3.2.3 of the Agreement.
    5. ALFAcoins reserves the right to impose processing limits on the Merchant. These limits may apply to the total value of transactions within a certain period of time.
    6. The Merchant has the right to issue a refund to the User through the ALFAcoins payment gateway. The amount of cryptocurrency returned should be refunded at the current exchange rate at the time of the refund for the Fiat currency value of the initial transaction. If the Merchant does not have sufficient funds in its personal account for a refund, ALFAcoins may require them to deposit funds into their account to cover the refund to the User. Any required currency conversion during the refund process will be calculated at a rate determined by ALFAcoins.
  6. Rights, Obligations, Warranties
    1. The Parties agree that unless the Merchant submits a payment request to ALFAcoins according to para. 5.1-5.2 of the Agreement, ALFAcoins will keep the Merchant’s money without charging any commission or allowing any interest regardless of the length of the period between two payment requests.
    2. The Parties understand that the Transaction gains the Transaction status which entitles the Merchant to submit a payment request to ALFAcoins according to para. 5.1 of the Agreement by virtue of the actions of third parties and the confirmation process of the Cryptocurrency nodes. These actions of the third parties are out of the control of the Parties. ALFAcoins does not assume any legal liability or responsibility for damages or losses caused by slow speed of Cryptocurrency payments processing.
    3. ALFAcoins assumes the risk of inaccurate definition of exchange rates under para. 3.2.3 of the Agreement, or any fluctuation of exchange rate defined by a third party. Any operation that ALFAcoins performs with the Cryptocurrency is made on behalf of ALFAcoins and its corporate account; the Merchant has neither rights nor obligations under such operations.
    4. The Merchant is obliged to provide ALFAcoins with actual and accurate banking details and bears any risk resulting from providing ALFAcoins with inaccurate banking details and information.
    5. If the Merchant fails to provide ALFAcoins with actual and accurate banking details, the Merchant pays ALFAcoins a daily penalty of 0.01% of the sum due to pay to the Merchant using these banking details for the entire period that ALFAcoins has not been provided with the accurate banking details and other information. If ALFAcoins makes a payment according to inaccurate banking details and the payment is returned to ALFAcoins, the penalty in question is to be charged on the sum of the returned payment.
    6. The Parties agree that any information transferred by each of the Parties to the other in the course of performance under the Agreement shall be confidential information. The Parties agree that they will not share, discuss the content, provide copies, publish or disclose in any other form to third parties the confidential information without prior written consent of the other Party.
    7. ALFAcoins does not assume any legal liability for disputes between the User and the Merchant concerning delivery and return of goods (services) under the Deal.
    8. For the duration and strictly for the purpose of the Agreement, ALFAcoins grants the Merchant a personal, limited, revocable worldwide, royalty-free, non-transferable license to use the intellectual property rights of ALFAcoins in and through the ALFAcoins payment gateway, without the right to sublicense. Nothing contained in the Agreement should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any of the content on the Website without the prior written permission of ALFAcoins.
    9. The Merchant agrees that ALFAcoins may publish information such as company name, logo or a short description of the business on the Website and affiliate sites for marketing and promotional purposes.
  7. Dispute Resolution
    1. The Parties shall undertake all reasonable measures to resolve any disputes through negotiation. The claiming Party shall send a message with their claim to the authorized e-mail address of the other Party. The responding Party shall reply to the claiming party within 15 (fifteen) working days upon the receipt of the message.
  8. Security measures
    1. If the Administrator has the grounds to suppose that the User is willing to commit a Suspicious transaction the Administrator may at its discretion:
      1. refuse to render the Services upon certain Order;
      2. request additional information proving legitimate character of the operation;
      3. block access of the User to the Personal account;
      4. terminate the Terms without the prior notice of the User.
    2. With respect to the recommendations of the Financial Action Task Force (FATF) the Administrator will not render Services to the Users – citizens or residents of the following states:
      1. Islamic Republic of Iran;
      2. Democratic People's Republic of Korea;
      3. the United States of America.

PRIVACY POLICY

This ALFAcoins Privacy Policy ("Policy") describes the way we treat personally identifiable information that we collect when you are on a site, web portal or web pages operated or owned by ALFAcoins ("Website") or affiliated with ALFAcoins ("ALFAcoins Website(s)"). By using our services or opening an account with us, you are deemed to have agreed to the terms of this Policy.

We adhere to certain practices regarding your personally identifiable information, that is, data which can be used to identify or made identifiable an individual.

To be fully compliant with personal data protection rules we adhere to the following principles in order to protect your privacy:

  • We respect the right of individuals to access their personal data
  • We will provide you with choices and means to limit the use and disclosure of your personal data
  • We will not rent or sell your personal data to third parties
  • Any personal data that you provide to us will be secured with industry standard safety protocols and technology
  • We are committed to follow certain principles of personal data received from the EU in reliance on GDPR effective as of May 25, 2018
  • We will collect your personal data only for the purposes set forth herein
  • We provide you with the means to contact us regarding inquiries or complaints of yours.

ALFAcoins aims to ensure that this Policy is always publicly, transparently and easily applicable at ALFAcoins websites.

IF YOU DO NOT AGREE TO THIS POLICY, PLEASE DO NOT ACCESS OR USE OUR WEBSITE.

1. Collecting Your Personal Information

If you apply for an account with us you will be required to provide us with personal data in order to verify your identity as required by law. If our business activity with you increases, we may require you to provide additional personal data in order to protect our business from risk and to continue our compliance with legal requirements.

In order to perform the services we collect from you the following personal information about you:

  • username
  • e-mail address

For the purpose of verification of data, you must present to ALFAcoins an identity document or send a scan or photo thereof in the .jpg or .png format by means of the form on the Website. The scan/photo of the identity document must meet the following terms: data on the document must be clearly visible, all edges of the document must be visible, no data can be covered. The file cannot contain any signs of digital remake (e.g. painting over of an element using a graphic program). Placement of a watermark is admissible. In case of doubts, ALFAcoins can ask you to send the photo of their identity document made so that both the face and their identity document can be seen simultaneously.

2. Processing Your Personal Information

Personal data is processed pursuant to the provisions of the Regulation of the European Parliament and of the Council (UE) 2016/679 of 27th April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/CE (J. o.L. UE 2016, it. L119) and the Act of 10th May 2018 on the Protection of Personal Data.

The basis for the processing of data are either your consent or provisions of law that authorize to process personal data, including in particular any relevant laws and regulations on counteracting money-laundering and terrorism financing.

The provision of data is voluntary, however indispensable for rendering our services. The processing of your personal data collected when you register is based firstly on your consent as you read and accept the Policy before you create an account and give any personal information. You can withdraw your consent at any time, going on your personal account.

In order for us to provide our services we will need to undertake as the collection, recording, organization, storage, adaptation / alteration, retrieval, consultation, use, disclosure / dissemination, along with its erasure or destruction of your personal data, either among our affiliates or other authorized third parties. Our Website does not collect any sensitive personal data about you (i.e. gender, racial origin, financial position).

ALFAcoins is concerned with protecting your privacy and have rigid procedures & systems for data protection by design and default in place to protect the information against unlawful or unauthorised access, accidental loss or destruction, damage, unlawful or unauthorised use and disclosure. We will also take all reasonable precautions to ensure that our staff and employees who have access to personal data about you have received adequate training.

ALFAcoins provides sufficient guarantees to implement appropriate technical and organizational measures in such manner that processing will meet the requirements of GDPR and ensure the protection of the rights of data subject. Indeed, the following specific measures are put in place:

In providing our service to you we may be required to transmit your personal data to third parties located outside the EU countries which could not have the same standards of protection for personal data. By registering your personal data with us, you agree to such transfer and use of your personal data. We will at all times ensure that third parties to whom your data is transferred have committed that they will comply with our data protection standards by putting in place a contract to ensure your information is adequately protected. Our collection, storage and use of your personal data will at all times continue to be governed by this Policy.

The Website or other ALFAcoins Website(s) may contain hyperlinks to websites operated by parties other than ALFAcoins. Such hyperlinks are provided for your reference only. ALFAcoins does not control these websites and is not accountable for their contents or how they collect and handle your data.

The processing of your personal data for the purposes described is based on your explicit consent or on the necessity to process your personal data for the purposes of legitimate interests, as provided by Article 9, 2., (a) and (f) of the GDPR. Once you have established an account with us, we may use your personal data for the following purposes:

  • allowing you to fund your account
  • verifying that you are the account holder if you contact us
  • informing you of any changes affecting your use of your account with us
  • contacting you for marketing of additional products or services we offer
  • contacting you for crime and fraud investigations, detection and prevention

When collecting data, only the personal data absolutely required for that purpose may be requested. This means that no data other than what is necessary can be requested, or stored.

Basically, we consider that your personal data should be retained only while necessary. In particular, personal data should be deleted once the legitimate purpose for which it was collected has been fulfilled. However, we may retain personal data even after an account has been closed or is no longer engaged in business with ALFAcoins if retention is reasonably necessary to comply with our legal obligations or meet regulatory requirements, resolve disputes, prevent fraud and abuse, or enforce our Policy or our contractual obligations.

We take commercially reasonable efforts to secure your personal data and protect it from unauthorized access, use or disclosure. If you provided us with electronic data, we will secure your personal data on our servers in a controlled, secure environment, protected from unauthorized access, use or disclosure. All electronic personal information is transmitted to other Websites through the use of Secure Socket Layer (SSL) encrypted protection. We will retain your personal information for a reasonable period or as long as required by law.

We do not knowingly request to collect personal information from any person under the age of 18. If a user submitting personal information is suspected of being younger than 18 years of age, we will require to close his or her account. We will also take steps to delete the information as soon as possible.

3. Your Rights

As your data controllers, we want to uphold an honest and transparent Policy about your freedoms and rights as a user. This Policy outlines the purposes of the processing for which the personal data are intended as well as the legal basis for the processing.

You shall have the right to make a request to us in order to enforce your rights to:

  • Access personal data
  • Rectify personal data, when inaccurate or incomplete
  • Cancel processing of personal data
  • Object —with legitimate reasons— the process of his personal data; and/or
  • Revoke consent for the use, storage, treatment, process and/or, disclosure of personal data.

The enforcement and upholding of your privacy rights should be requested to us in writing and must include, at a minimum, the following information:

  • your complete name, address and/or e-mail address in order for us to notify you the response to your privacy request
  • attached documents establishing your identity; and
  • a clear and concise description of the personal data with regard to which you seek to enforce any of your privacy rights. If you request rectification, please indicate amendments to be made and attach documentation to back up your request.

In order to enforce of your privacy rights, please contact us by email [email protected]. Upon receipt of your privacy request, and after due review of its merit, we may then edit, deactivate and/or delete your personal data from our Website or services. Please take into account that we may not be able to delete all of your data from some our databases and that, if so is the case, we will then mark such data as permanently inaccessible. In case of amendment of personal data, you are obliged to perform actions aiming at updating personal data on the account.

We can deny removal of personal data in a justified case (if you have completed transactions), and in particular if you:

  • have not paid all amount due to us, or
  • have violated terms of use of the Website, or
  • have violated the effective provisions of law, and the maintenance of personal data is indispensable for explanation of such circumstances and determination of the scope of your liability. In each case of denial of personal data removal, we shall inform you on the reasons of such denial along with the legal grounds thereof.

In case of doubts regarding the method of processing personal data, you can receive explanation from us and have the right to file an inquiry, a reservation or a complaint to the supervisory body.

The basis for processing data are in particular the effective regulations and provisions of law and the consent if it was given by you.

On the basis of the processed personal data decisions shall not be made automatically as well as data shall not be used for profiling.

We may share non-personally identifiable information (such as anonymous usage data, referring/exit pages and URLs, platform types, number of clicks, etc.) with interested third parties to help them understand the usage patterns for certain ALFAcoins products and those of our partners. Such results consist solely of non-personally identifiable information. Non-personally identifiable information may be stored indefinitely.

You can access some of the information that we collect about you. For example, by logging into your account, you can access information regarding recent transactions; certain personal data we maintain about you; your communication preferences; and other settings.

With respect to your communications preferences, you can unsubscribe from any materials by following the instructions included in the communication letter you receive, or you can log into your account and update your email subscription options. If your email address has changed and you would like to continue to receive materials, you will need to access your account, update your email address information in your account, and sign up again.

You also have choices with respect to cookies, as described in Section 4 of the Policy. By modifying your browser preferences, you may be able to choose to accept all cookies, to be notified when a cookie is set, or to reject all cookies. If you choose to reject all cookies some parts of our Websites may not work properly in your case.

4. Cookies

A cookie is a text file that is used for an origin website to send state information to a user's browser and for the browser to return the state information to the origin site. The state information can be used for authentication, identification of a user session, user's preferences, shopping cart contents, or anything else that can be accomplished through storing text data on the user's computer. We only use session cookies which are essential for the operation of the service you request. These cookies do not contain any personal information and are deleted when you close your browser.
Our or our third party's data processors' websites use Google Analytics, a web analytics service provided by Google, Inc. ("Google"). Google Analytics also uses cookies. The information generated by these cookies about your use of the website (including your IP address) will be transmitted to and stored by Google on servers in the United States. Google will use this information for the purpose of evaluating your use of the website, compiling reports on website activity for website operators and providing other services relating to website activity and internet usage. Google may also transfer this information to third parties where required to do so by law, or where such third parties process the information on Google's behalf. Google will not associate your IP address with any other data held by Google. You may refuse the use of cookies by selecting the appropriate settings on your browser, however please note that if you do this you may not be able to use the full functionality of our website. By using our website, you consent to the processing of data about you by Google in the manner and for the purposes set out above.

Information on some of your actions is subject to log into the server layer. This data is only used to administer the Website and to ensure the most efficient hosting services, also for evidential purposes in connection with committed crimes or due to circumstances connected with seeking claims in civil proceedings.

Browsed resources are being identified by URLs. Moreover, the following data may be stored:

  • date of request
  • time of reply
  • name of your station - identification carried out by HTTP, HTTPS protocols
  • information on errors that occurred during the HTTP, HTTPS transactions
  • URL of the page previously visited (referer link) - when the transition to the Website took place by reference
  • information about your browser
  • IP address information.

Some of the above data is not associated with particular users using the Website. We do not associate this data with your personal data and do not use it for your identification as it is only used for the purpose of server administration.

5. Disclaimer

Please note that even though ALFAcoins uses industry-leading measures to protect data, we cannot ensure or warrant the security of any information you transmit to ALFAcoins or guarantee that your information on ALFAcoins may not be accessed, disclosed, altered or destroyed by breach of any of our industry standard physical, technical or managerial safeguards. No method of transmission over the Internet or method of electronic storage, is 100% secure, however. Therefore, we cannot guarantee its absolute security. ALFAcoins uses an internal protocol for security measures to ensure that outside personnel cannot access our databases. We also apply access restrictions and educate staff members on how to properly handle personal data.

In case a personal data breach occurs that could result in a high risk to the rights and freedoms of natural persons, we will notify you immediately in a notification describing the nature of the data breach, the likely consequences of the personal data breach and the measures taken to address it.

We will not notify you of the breach if our technical and organisational protection measures eliminate the risk of the breach, if the high risk to the rights and freedoms of data subjects is no longer likely to materialize or if it would involve disproportionate effort. In such a case, we will instead organize a public communication or similar measure where the data subjects are informed in an equally effective manner.

If you have any questions about security on our Website, you can contact us bv email [email protected].

6. Amendments and Updates

ALFAcoins may change this Policy from time to time. Laws, regulations and industry standards evolve, which may make those changes necessary, or we may make changes to our business. We will post the changes to this page and encourage you to review our Policy to stay informed. If we make changes that materially alter your privacy rights, ALFAcoins will provide additional notice, such as via email or through the services. If you disagree with the changes to this Policy, you should deactivate your account.

7. Contact

If you have any questions or queries about us or our Policy please contact us by email [email protected].