Current version 1.0

Last updated: 23 March 2022

Acquiring Terms and Conditions

1. The Agreement

1.1 Intergiro is an e-money institution and fintech company that offers Card Acquiring and related Services to Customers.

1.2 The Customer sells goods, services and/or content online through its Website(s).

1.3 The Customer has executed and submitted the Customer Application to Intergiro. Intergiro assesses the Customer Application and decides in its sole discretion to approve or reject the Customer. 

1.4 On the condition that Intergiro approves the Customer and countersigns the Customer Application, Intergiro has agreed to provide, and the Customer agrees to use, on the terms of the Agreement, the Services indicated in the Customer Application.

1.5. The Customer guarantees that the Customer Application is executed by an authorised signatory(-ies) of the Customer with authorisation to bind the Customer. The Customer undertakes to use the Services in accordance with the Agreement and assumes full responsibility and liability for the acts and omissions of its authorised users and other staff managing and using the Services.

1.6 The Agreement consists of the following documents in their order of priority:

  • 1.6.1 the Customer Application;
  • 1.6.2 the Definitions;
  • 1.6.3 the Specific Terms and Conditions;   
  • 1.6.4 these General Terms and Conditions; and
  • 1.6.5 the Guidelines.

1.7 Each term with a capital letter in the Agreement shall have the meaning set out in the Definitions. 

1.8 The language of the Agreement is English. All notices and communications under the Agreement will be conducted in English.

1.9 The language of the Agreement is English. All notices and communications under the Agreement will be conducted in English.

1.10 By executing the Customer Application, the Customer confirms that these General Terms and Conditions and any Specific Terms and Conditions apply to its use of the Services. The Agreement supersedes and replaces any prior agreements, promises and understandings, oral or written, between the Parties regarding the Services.

1.11 In the Agreement, unless the contrary intention appears, references to:

  • 1.11.1 a heading is for convenience only and shall not affect the interpretation of any provision of the Agreement;
  • 1.11.2 a provision of law is a reference to that provision as amended or re-enacted from time to time; and
  • 1.11.3 words denoting the singular shall include the plural and vice versa.

1.12 In the event of a conflict between the Customer Application, the Definitions, the Specific Terms and Conditions, these General Terms and Conditions and the Guidelines, the Customer Application shall prevail at all times, and the Specific Terms and Conditions shall prevail as regards the subject matter thereof.

2. The Services

2.1 The Services are offered by Intergiro on a software as a service basis and performed via Intergiro’s proprietary payment processing platform.

2.2 The Services are described in the relevant Specific Terms and Conditions and the Guidelines (if applicable).

2.3 The Customer undertakes to only use the Services within the geographical area specified in the Agreement.

2.4 Intergiro provides a Portal and/or API for the provision of the Services. An internet connection and a computer or the equivalent with a web browser is required to access the Portal and/or the API. Additional technical requirements are set out in the relevant Specific Terms and Conditions or in the Guidelines.

2.5 The Customer can access information about Transactions made through the Website(s) using the Portal.

2.6 The Customer is required to assign an administrator who will assign roles and permissions to additional users of the Portal.

2.7 To obtain access to the Portal and/or the API key, the Customer is required to comply with the instructions and rules regarding security provided by Intergiro. The Customer undertakes to keep its account credentials and/or API key secure and not to share it with any third party. Further, the Customer undertakes to inform Intergiro immediately if it suspects that its account credentials and/or the API key are compromised.

2.8 The Customer is liable for any loss or damage which occurs (directly or indirectly) through the Customer’s use of the Portal and/or API in a negligent manner, including that unauthorised parties get access to data (including Personal Data) or uses the Portal and/or API.

2.9 Due to safety reasons Intergiro will log all usage of the Portal and the API. 

2.10 The Services are provided to the Customer. To the extent that the Customer has subsidiaries or other group companies that desire to use the Services, each such entity is required to submit its own Customer Application.

3. Operational Requirements and Obligations

3.1 The Customer must be incorporated and perform its operations within the European Economic Area. The Customer may not use the Services if:

  • 3.1.1 it is involved in or carry out any activity set out in the Prohibited Business List or an equivalent list issued by a Card Scheme; or
  • 3.1.2 any of its operations are located in or pertain to any country set out in the Prohibited Countries List or an equivalent list issued by a Card Scheme.

3.2 Under the AML Legislation and in line with Intergiro’s risk policies, Intergiro is required to verify the information provided by the Customer and its operations in the Customer Application and assess the risk that the Customer’s business activities constitute for Intergiro. To do so Intergiro may use the information and documentation provided by the Customer and if required collect information from third parties, such as relevant registries or governmental authorities.

3.3 The Customer acknowledges that Intergiro has the right to require further information and documentation to ensure continued compliance with the AML Legislation, the Card Scheme Rules or other applicable laws or regulations, during the term of the Agreement. Any request for further information or documentation shall be responded to within ten (10) Business Days.

3.4 The Customer undertakes to inform Intergiro without undue delay, and in any case within fifteen (15) Business Days, of any changes affecting it or its operations, relevant to the Agreement, including changes to its (i) business activities or product or service offering, (ii) address, e-mail address or telephone number, (iii) Representatives, (iv) corporate structure and (v) transaction volumes or overall financial condition. Intergiro has the right to reassess the Agreement upon changed circumstances.

3.5 Intergiro has the right to temporarily suspend the Services, or to terminate the Agreement, if the required information or documentation requested is not provided, or to terminate the Agreement if the Customer’s risk profile becomes unacceptable to Intergiro, or if Intergiro reasonably suspects that the Customer’s business is illegal or involves any restricted activities or operations. Intergiro may, in its sole discretion, reject a Transaction if it is considered restricted or prohibited by Intergiro.

3.6 The Customer warrants and represents to Intergiro that, and agrees to be fully liable for any damages incurred by Intergiro or the Card Schemes as a result of a breach hereof, that:

  • 3.6.1 all documents and information provided or to be provided by the Customer or its Representatives are authentic, correct and up-to-date, and that the Customer has the necessary permissions to disclose them to us, including with regards to the Personal Data contained therein;
  • 3.6.2 it is not aware of any information which Intergiro would reasonably require or expect to be informed of for the purpose of making an informed assessment of the Customer and its ability to perform its obligations under the Agreement; 
  • 3.6.3 its business is incorporated within the European Economic Area, is in good standing and complies with applicable laws and regulations in its country of incorporation and the countries where it operates;
  • 3.6.4 its business and sales comply with the Agreement and that it holds all required licences, permits or approvals to lawfully carry out its business;
  • 3.6.5 it shall use the Services for legitimate business purposes only and to facilitate lawful business transactions between itself and its End-Customers;
  • 3.6.6 it is the legal owner of the Website(s);
  • the Website(s) comply with the Website(s) Requirements;
  • 3.6.7 it will comply with any instruction, policy or procedures provided by Intergiro; 
  • 3.6.8 it will respect Intergiro’s and any third parties’ intellectual property rights relating to the Services; and
  • 3.6.9 it will comply with its obligations under the Agreement.

3.7 The Customer undertakes to always provide the End-Customer with a transaction order/receipt in connection with a Transaction. Such transaction order/receipt shall include all mandatory information as regulated by the laws and regulations applicable to the Customer’s business, the Card Scheme Rules and the Guidelines. Upon request the Customer shall be able to disclose a copy of the transaction order/receipt to Intergiro.

3.8 The Customer acknowledges that it is solely responsible for the relationship with the End-Customers, and liable for the quality of the products or services sold to the End-Customers using its Website(s), and for the delivery, support, refunds and returns.

4. Pricing, Payment Terms and Taxes

4.1 The applicable Fees for the Customer’s use of the Services are set out in the Customer Application or otherwise agreed between the Parties. All Fees are exclusive of VAT. The Customer’s payment obligations under the Agreement are non-cancelable and non-refundable. 

4.2 Intergiro has the right to start debiting the Fees on the Effective Date.

4.3 The Customer undertakes to pay the Fees as they become due. The Fees may be deducted from the Proceeds, charged-up front as agreed between the Parties or invoiced by Intergiro in arrears. Should Intergiro invoice the Customer, Intergiro has the right to charge a billing fee.

4.4 Overdue interest is charged in accordance with the Interest Act.

4.5 To the extent Intergiro will invoice the Customer, a settlement statement shall be sent to the Customer within two (2) weeks from the end of each month.

4.6 Intergiro reserves the right to change the Fees by giving the Customer no less than thirty (30) days prior notice. If the Customer does not accept the changes it has the right to terminate the Services concerned by the changes prior to the new Fees taking effect.

4.7 In addition, Intergiro reserves the right to change the Fees retrospectively in the event the actual volumes, processing countries and/or Transactions mix made using Cards is different from the information provided by the Customer and/or any other assumptions upon which the Fees are based are not met by the Customer.

4.8 If the Customer owes Intergiro any unpaid Fees or any other amounts due pursuant to the Agreement, Intergiro has the right to deduct such amount from the Proceeds or to set-off such amount against any other agreement(s) between the Parties. Intergiro may require the Customer to authorise it to perform direct debits from its Merchant Settlement Account for such Fees.

5. Term and Termination

5.1 The Agreement shall enter into force on the Effective Date.

5.2 The Agreement shall have an indefinite term with a Minimum Term of one (1) year from the Effective Date.

5.3 A Party may terminate the Agreement in accordance with the provisions of these GTC or the Specific Terms and Conditions.

5.4 If all applicable  Specific Terms and Conditions have been terminated, these GTC shall automatically be deemed terminated.

5.5 Each Party may terminate the Agreement with two (2) months’ written notice at any time after the expiration of the Minimum Term.

5.6 Each Party may terminate the Agreement immediately, by notifying the other Party in writing, if the other Party:

  • 5.6.1 is or becomes insolvent, has taken general measures to cease payment of its debts, initiated negotiations for a general agreement with its creditors, becomes subject to an application for bankruptcy proceedings or enters into composition, reorganisation or a similar arrangement with its creditors, is wound up, liquidated or has a receiver appointed for all or parts of its assets; or
  • 5.6.2 has materially breached the Agreement and (i) does not remedy such breach within thirty (30) days’ from being notified by the Party thereof, or (ii) the breach cannot be remedied.

5.7 Intergiro has the right, in its sole discretion, to suspend the Services or to terminate the Agreement with immediate effect if:

  • 5.7.1 the Customer is in breach of the Agreement, for example does not provide required information or does not comply with its obligations under the Agreement;
  • 5.7.2 the Customer does not pay the Fees as they fall due;
  • 5.7.3 the Customer is in breach of the representations and warranties made by the Customer under the Agreement;
  • 5.7.4 Intergiro has legitimate reason to believe that the Customer, its business or the Transactions submitted by the Customer do not comply with applicable law or Intergiro reasonably suspects that the Customer is engaging in fraudulent conduct or other illegal activities;
  • 5.7.5 if the Customer’s risk profile and/or its Transactions change significantly;
  • 5.7.6 Intergiro has legitimate reason to believe that that the Customer’s use of the Services could damage Intergiro’s or the Card Schemes’ reputation, integrity or goodwill or is harmful to Intergiro, the Card Schemes, any of their software, systems or the Services; 
  • 5.7.7 the Customer (allegedly) infringes the Intellectual Property Rights of Intergiro or the Card Schemes;
  • 5.7.8 required under applicable law, regulation, court order, Card Scheme Rules or request of a competent authority or the Card Schemes; or
  • 5.7.9 in case of any event (such as a material change in the Customer’s financial condition) or any acts or omissions by the Customer which, in Intergiro’s sole opinion, may affect the Customer’s ability or willingness to comply with its obligations under the Agreement.

6. Confidentiality

6.1 Each Party undertakes to keep the Confidential Information strictly confidential, irrespective of the means of disclosure to a Party, including in written, oral, digital or any other form or medium (including any recording, copy, reproduction or analysis derived from such information). Confidential Information shall remain the property of the disclosing Party for all purposes.

6.2 A Party may only disclose Confidential Information to its Permitted Receivers on a need to know basis for the purpose of fulfilling its obligations under the Agreement, to the extent the Permitted Receiver is bound by adequate confidentiality undertakings.

6.3 The receiving Party is liable for any breach of this confidentiality undertaking by itself or its Permitted Receiver.

6.4 A Party may, to the extent required by applicable law, disclose Confidential Information in accordance with the order or decision of a competent court or authority, provided that: (i) such Party, if permissible under applicable law, notifies the other Party of any such intended disclosure as soon as reasonably practicable prior to such disclosure, (ii) such Confidential Information is disclosed to the minimum extent legally required, and (iii) the Party promptly requests confidentiality restrictions to be applied regarding the disclosed Confidential Information. Notwithstanding any disclosures pursuant to this clause, the disclosed Confidential Information shall remain the subject to this duty of confidentiality.  

6.5 Each Party shall treat the other Party’ Confidential Information with the same care as it treats its own Confidential Information (no less than reasonable care).

6.6 The Customer undertakes to, in relation to the End-Customers, adhere to the confidentiality undertaking set out in the Swedish E-money Act (Sw. lag (2011:755) om elektroniska pengar) which Intergiro is bound by. The Customer acknowledges the sensitivity and confidential nature of the End-Customers’ information.

6.7 Notwithstanding anything to the contrary in this section, Intergiro has the right to disclose Confidential Information to its partners and subcontractors, if required for Intergiro’s fulfilment of its obligations under the Agreement, such as the Card Schemes.

6.8 The Customer hereby grants Intergiro a power of attorney to receive information from third parties on behalf of the Customer, if such information is granted for the purpose of Intergiro’s fulfilment of the Agreement.

6.9 The receiving Party’s duty to protect the Confidential Information commences on the date the Confidential Information is disclosed to the receiving Party and shall remain in effect for an unlimited period of time, even after the termination of the Agreement. 

Processing of Personal Data

6.10 Each Party undertakes to process Personal Data in accordance with applicable laws, regulations and guidelines from competent authorities, including but not limited to the General Data Protection Legislation. 

6.11 Intergiro will process Personal Data relating to the Customer and its Representatives as Data Controller, further described in Intergiro’s Privacy Policy available at www.intergiro.com/privacy-policy. The Customer guarantees that its Representatives have been informed about such processing and that the Representatives have consented to Intergiro’s processing for the purpose of providing the Services to the Customer.

6.12 With respect to the Agreement, Intergiro may be considered the Data Controller for Personal Data of the End-Customers processed under one or more of the Specific Terms and Conditions. More information about Intergiro’s processing is available at www.intergiro.com/privacy-policy. To the extent that both Parties are considered Data Controllers for the processing of Personal Data of the End-Customers, the Parties agree that the Parties shall be considered independent Data Controllers, insofar as the Parties independently determine the purposes and means for the processing. Each Party undertakes to implement appropriate technical and organisational measures for the protection of the Personal Data and to process the Personal Data in accordance with applicable laws (including the GDPR), regulations and guidelines from competent authorities. If the Customer has breached its obligations under this clause, it agrees to keep Intergiro harmless for the loss or damages suffered by Intergiro.

6.13 To the extent relevant to the End-Customers, the Customer undertakes to disclose in its Website(s) terms and privacy policy that it has engaged Intergiro for the provision of the Services and that the End-Customers’ Personal Data may be shared with Intergiro for the purpose of the Services. If applicable, the Customer guarantees that the End-Customers have granted their consents for such processing. As Data Controllers, each Party is required to inform the End-Customers of their rights under the GDPR and the Parties undertake to ensure that these rights can reasonably be exercised. Where reasonably necessary, a Party may require the other Party’s assistance in complying with these obligations. Intergiro will refer any End-Customer requests to the Customer if we deem that these requests should be handled by you.

6.14 Please refer to Intergiro’s privacy policy available at www.intergiro.com/privacy-policy for further information about how Intergiro processes Personal Data, including legal basis under the GDPR and retention requirements.

7. Customer Support and Complaints

7.1 Intergiro strives to provide great Services and the best possible customer service. Intergiro’s Customer Support is available to assist with any questions or issues regarding the Services, and is generally available between 9.00 am and 5.00 pm CET on weekdays.

7.2 If the Customer is nonetheless not satisfied with Intergiro’s efforts, a formal complaint may be submitted to Intergiro’s complaints team at complaints@intergiro.com. We will do our best to resolve the complaint as soon as possible and, in any event, no later than fifteen (15) Business Days from receipt of the complaint. In exceptional circumstances where we require more time to respond, we will contact you to let you know, and in any case we will respond to your complaint within thirty five (35) Business  Days. 

8. Intellectual Property Rights

8.1 All intellectual property rights (including trademarks and designs, copyrights, software and source code, know-how, patents and any other intellectual property right) of a Party shall remain the property of that Party or, as applicable, its licensors.

8.2 Intergiro hereby grants the Customer a limited, non-exclusive, non-sublicensable, non-transferable, revocable right to use the Services during the Term, and in accordance with, the Agreement.

8.3 The Services may include sources offered under an open source licence with other terms and conditions. Should any conflict arise between an applicable open source license and the Agreement, the open source license shall prevail regarding the subject matter thereof. Intergiro will, upon request by the Customer, provide a list of the open source licenses.

8.4 The Customer undertakes not to copy, reproduce, modify, reverse engineer, decompile, disassemble or otherwise change or create derivative products of the Services.

9. IPR Indemnity

9.1 Intergiro undertakes to defend, indemnify and hold the Customer harmless from any costs, expenses, damages and/or losses resulting from a third party claim that the Customer’s use of the Services infringes such third party’s Intellectual Property Rights.

9.2 The Customer undertakes to defend, indemnify and hold Intergiro harmless against from any costs, expenses, damages and/or losses resulting from a third party’s claim that Intergiro’s use of trademarks, names or logotypes of the Customer in accordance with the Agreement infringes such third party’s Intellectual Property Rights.

10. Marketing

10.1 The Customer hereby grants Intergiro its consent to use the Customer’s logotype for marketing purposes on Intergiro’s website and in other marketing materials.

10.2 The Customer undertakes to inform the End-Customer that a Transaction made by an End-Customer is processed securely by Intergiro.

10.3 Intergiro hereby grants the Customer its consent to use the trademarks, names or logotypes of Intergiro for the purpose of informing the End-Customers that Intergiro acquires the Transaction made by Card on the Website(s).

10.4 The Customer acknowledges and agrees not to use the trademarks, names or logotypes of the Card Schemes other than for the purpose of informing the End-Customers that payments with such Cards are accepted.

11. Liability and Limitation of Liability

11.1 Intergiro is not liable for a breach, failure or delay to perform its obligations under the Agreement if such breach, failure or delay is caused, directly or indirectly, by Swedish or foreign laws or enactments, actions, orders or decisions made by Swedish or foreign courts or authorities, elements of nature (including fire or flood), wars (including cyber or civil wars), civil or military disturbances, acts of terrorism, strikes, riots, revolutions, strikes, labour disputes, epidemic, pandemic, sabotage or interruption in public transport, communications or general energy supply or any cause beyond the reasonable control of a Party. If Intergiro wishes to invoke a circumstance in accordance with this clause, Intergiro shall notify the Customer thereof without undue delay, and Intergiro shall be excused from performance of the obligations being affected for as long as such circumstance prevails.

11.2 Further, Intergiro is not liable under the Agreement insofar it acts in accordance with applicable laws or regulations. 

11.3 Should Intergiro be prevented from processing a Transaction due to a circumstance set out in clauses 12.1-12.2, the processing of such Transaction may be postponed until the circumstance has ceased to exist.

11.4 Intergiro shall not in any case be liable to the Customer for any indirect losses, damages or consequential damages, including but not limited to loss of profit, loss of revenue, loss of goodwill, loss or corruption of data or any loss or damages arising between the Customer and a third party.

11.5 Intergiro’s total liability to the Customer for any claims, costs, expenses, damages or losses under the Agreement shall be limited to the total amount paid or payable by the Customer under the Agreement during the six (6) months immediately preceding the date on which the claim, cost, expense, damage or loss occurred, unless Intergiro has acted grossly negligent.

11.6 Intergiro will not be liable for any claims, costs, expenses, damages or losses:

  1. arising as a result of Intergiro complying with regulatory requirements of bank payment systems, card payment systems or any other payment, clearing or settlement system;
  2. caused by a virus, malware, phishing or other technological attacks or harmful material that may infect your IT equipment and infrastructure being used for the Services;
  3. arising or due to third party banks’, Card Schemes’ or other financial institutions’ delays or errors; or
  4. any damages, losses or costs that may occur due to the fact that you have not informed us of any important change affecting you and your operations, including but not limited to change of business, directors, shareholders or beneficial owners.

11.7 The Customer is required to notify Intergiro about any claim for compensation under this section 11 without undue delay from becoming aware, or should have been aware, of the default, breach or delay.

11.8 The Customer is liable to comply with applicable laws, regulations and guidelines from consumer protection organisations, including e-commerce legislation, consumer protection legislation and distance sales regulations.

11.9 The Customer is liable for any costs, expenses, damages or losses incurred by Intergiro due to the Customer’s breach of the Agreement.

11.10 If Intergiro receives a warning to pay fines and/or other penalties from a Card Scheme, it will without undue delay inform the Customer. The Customer undertakes to, in cooperation with Intergiro, immediately execute any required changes or modifications to avoid any fines or other penalties. The Customer undertakes to pay any fines, penalties and/or other costs suffered by Intergiro from a Card Scheme due to the Services used by the Customer or, directly or indirectly, related to the Customer’s business.

12. Changes to the Agreement

12.1 The Agreement constitutes the entire agreement between the Parties on the subject matter.

12.2 Intergiro may unilaterally change the Services, including these General Terms and Conditions, the Definitions or any Specific Terms and Conditions, from time to time for example to introduce new functionality, provided that such changes shall not diminish the existing functionality of the Services.

12.3 Intergiro has the right to unilaterally change the Services, including these General Terms and Conditions, the Definitions or any Specific Terms and Conditions, to comply with applicable laws, Card Scheme Rules, industry standards or the equivalent. Such changes will be published on Intergiro’s website and will take effect one (1) month after the publication. If the Customer does not accept the changes the Customer may terminate the Agreement free of charge until the date that the changes take effect.

13. Miscellaneous

13.1 Each Party has the right to exercise any right or remedy afforded to it under the Agreement at any time, even if such exercise is delayed, or the Party has previously failed to exercise any right or remedy it is entitled to.

13.2 Neither Party may assign its rights or obligations under the Agreement without the other Party’s consent, however Intergiro may assign its rights and obligations under the Agreement to an Intergiro group company, or in connection with a merger, sale of stock, sale of assets or the equivalent, to a third party without the Customer’s consent.

13.3 If the Customer or its business covered by the Agreement is transferred or sold to a third party, the Customer or the acquirer shall request Intergiro’s consent to such transfer or sale.

13.4 Intergiro may engage subcontractors at its discretion for the provision of the Services, or any part thereof. Intergiro is liable for any subcontractor’s work performed as if it would have been performed by Intergiro itself.

13.5 If any provision of the Agreement would be deemed invalid, unlawful or unenforceable, in whole or in part for any reason, the remaining provisions of the Agreement shall continue in full force and effect.

13.6 The Parties agree to use commercial reasonable efforts to cooperate to prevent and investigate illegal behaviour relating to the Services. The Customer undertakes to inform Intergiro about any End-Customer’s suspicious activity which constitutes, or may constitute, a crime and relevant documentation or information.

14. Governing Law and Dispute Resolution

14.1 The Agreement shall be governed by Swedish law without regard to the conflict of law principles.

14.2 The Parties shall attempt in good faith to resolve any dispute, controversy, claim, alleged breach or default arising out of or in relation to the Agreement, promptly by confidential negotiations between representatives of the Parties who have authority to settle the matter.

14.3 Any dispute, controversy, claim, alleged breach or default which cannot be settled in the manner set out in clause 12.2, shall be settled by a Swedish court of general jurisdiction and the Stockholm District Court (Sw. Stockholms tingsrätt) shall be the court of first instance.

15. Definitions

This subheading (the “Definitions”) sets out the definitions applied to the Merchant General Terms and Conditions, the Card Acquiring General Terms and Conditions, the PSP Terms and Conditions and any other document which makes reference to these Definitions. 

Additional Website Requirements” means any additional website requirements applicable to the Merchant, such as additional requirements for MCC 7995 https://intergiro.com/faqs/merchants/requirements-7995-website;

Agreement” means the Customer Application, Intergiro’s written acceptance of the Customer Application, the GTC, the Definitions, the Specific Terms and Conditions, any addendums to the Agreement, and the Guidelines;

AML Legislation” means the Swedish act on prevention of money laundering and terrorist financing (Sw. lag (2017:630) om åtgärder mot penningtvätt och finansiering av terrorism), any corresponding act in any EU member state and regulations, instructions or guidelines from the Financial Supervisory Authority;

API” means application programming interface, which is a set of programming instructions and standards Intergiro provides to communicate with the Customer and to receive Transactions from a Merchant or its third-party PSP;

Authorisation” means XXX;

"Business Day" means 08.00-17.00 within a day when commercial banks are open for general banking business (other than internet banking) in Sweden;

Card Acquiring Specific Terms and Conditions” or “CASTC” means Intergiro’s card acquiring specific terms and conditions (as amended from time to time);

Card” means a payment instrument in the form of a credit or debit card issued by a licenced card issuer and which bears the trademark of a Card Scheme; 

Card Acquiring” means the processing by Intergiro of a Transaction made using a Card in accordance with the Card Scheme Rules and the settlement of Proceeds to the Merchant Settlement Account;  

Card Not Present” means that neither the cardholder nor the Card is physically present at the time of the Transaction (such as online purchases);

Card Schemes” means each of the card networks Mastercard (“Mastercard”) and Visa (“Visa”) and any of their successors or assigns, unless otherwise indicated in the Merchant Application;

Card Scheme Rules” means the articles of association, rules, operating regulations, guidelines, policies and other instructions issued by the Card Schemes (as amended from time to time);

Chargeback” means the return of funds to the End-Customer as a result of a disputed Transaction made by Card required by the End-Customer’s issuing bank or a Card Scheme;

Confidential Information” means any information disclosed by a Party under the Agreement except (i) information that was already lawfully in a Party’s possession without any duty of confidentiality, (ii) is subsequently disclosed to Party by a third party that was not in breach of any obligation of confidentiality, (iii) is or becomes generally available to the public through no act or default on a Party, or (iv) was independently developed by a Party without use of, or reliance upon the Confidential information;

Customer” means a Merchant or a legal entity using the PSP Services;

Customer Application” means a Merchant Application or a PSP Application;

Data Controller” shall have the meaning assigned to such term in the GDPR;

Default” means a breach by the Customer of (i) any of its obligations under the Agreement, or (ii) its representations or warranties set out in the Agreement; 

Effective Date” means the date of Intergiro’s approval of the Customer Application;

End-Customer” means the customer of the Customer that makes a Transaction;

Fees” means any applicable fees or charges payable by the Customer for the Services, including but not limited to Intergiro Service fees and charges, interchange fees, Card Scheme fees and charges which Intergiro is liable to pay under or in connection with the Agreement, as set forth in the Customer Application or as otherwise communicated by Intergiro;

Fines” means any penalties, uplifted fees, legal sanctions or other additional payments associated with any costs imposed by Card Schemes or competent authorities;

General Data Protection Regulation” or “GDPR” means regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data;

General Website(s) Requirements” means the applicable, from time to time, general website requirements published by Intergiro on ​​https://intergiro.com/faqs/merchants/general-merchant-requirements-website;

Guidelines” means Intergiro’s guidelines and instructions published on Intergiro’s website www.intergiro.com/faqs/merchants (as amended from time to time) or otherwise provided by Intergiro;

Interest Act” means the Swedish act on interest (Sw. räntelagen 1975:635);

Intergiro” means Intergiro Intl AB (publ), a Swedish fintech company licensed and registered as an electronic money institution with licence no 48003 with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) with the authority to issue electronic money and to provide payment services. Intergiro’s registered address is Box 3093, 103 61 Stockholm, Sweden and VAT number is SE556965353701, and its subsidiaries;

"Maintenance" means scheduled maintenance (including upgrades) of the Services;

Merchant” means the legal entity that has submitted the Merchant Application to Intergiro and has has been accepted by Intergiro to use the Services;

Merchant Application” means Intergiro’s Merchant application and agreement for Visa/Mastercard e-commerce card acquiring (card not present) or agreed amendments to such application; 

Merchant Portal” means Intergiro’s web-based portal for Transaction reporting;

Merchant Settlement Account” means an account in the name of the Merchant, provided by (i) Intergiro or (ii) a third party financial institution, to which Intergiro settles the Proceeds;

Merchant User Account” means a user account opened by Intergiro in the name of the Merchant;

MID” means merchant identification number;

Minimum Term” means one (1) year from the Effective Date;

Parties” means the Customer and Intergiro;

Payment Methods” means payment methods offered by Intergiro from time to time,  that can be used to purchase goods, services or content;

Permitted Receivers” means a Party’s affiliates, its officers, employees or representatives; 

Proceeds” means the funds originating from processed Transactions;

Prohibited Business List” means Intergiro’s list of prohibited business activities, as set out in our FAQ [LINK], as updated from time to time; 

Prohibited Countries List” means Intergiro’s list of prohibited countries, as set out in our FAQ [LINK], as updated from time to time; 

PSP” means Intergiro’s system or a third party system, approved by and integrated to Intergiro, through which Payment Methods and additional services are made available;

PSP Application” means Intergiro’s application regarding the provision of PSP Services;

PSP Specific Terms and Conditions” or “PSPSTC” means Intergiro’s specific terms and conditions governing Intergiro’s provision of PSP Services (as amended from time to time); 

PSP Services” means technical liaison for Payment Methods including transaction creation, capture, reporting and administrational services; 

Recourse Claim” means XXX;

Refund” means the reversal of a specific Transaction made by Card;

Representatives” means the Customers representatives, including members of the board of directors, CEO and ultimate beneficial owners and the equivalent;

Reserve” means any amounts owed by the Merchant and withheld by Intergiro as security for any Refunds, Chargebacks, Fines or Fees payable;

Rolling Reserve” means a percentage withheld by Intergiro from the Proceeds on a rolling basis as security for Intergiro’s risk exposure;

Secured Obligations” means XXX;

Services” means the services (including the Portal and the API) offered by Intergiro to the Customer from time to time and agreed between the Parties in the Agreement;

Specific Terms and Conditions” means each set of terms and conditions that governs a Service, such as the CASTC or the PSPSTC and/or other Payment Methods offered by Intergiro from time to time;

Transaction” means (i) the purchase or lease by an End-Customer of goods, service or content from the Customer’s Website(s), and (ii) the refund of transactions set out in (i);

Website(s)” means the website(s)/URL(s) indicated in the Customer Application through which the Customer sells products, services and/or content; and 

Website Requirements” means the General Website Requirements and the Additional Website Requirements.