Terms & Conditions

These Terms of Use, including the Schedules, govern your use of the services provided by Swipe International Ltd and constitute the legal relationship between you and us. Capitalized terms in these Terms of Use are defined in the Schedule entitled “Definitions - Terms of Use” which is located at the end of these Terms of Use. You are also advised to print or download and keep a copy of the Terms of Use (including the Definitions – Terms of Use and other terms and conditions referred to herein) for future reference.
BY USING ANY OF OUR SERVICES DESCRIBED IN THESE TERMS OF USE, YOU ARE AGREEING TO BE BOUND BY THESE TERMS OF USE. PLEASE DO NOT USE ANY OF OUR SERVICES IF YOU DO NOT ACCEPT THESE TERMS OF USE. THESE TERMS OF USE ARE A LEGALLY BINDING AGREEMENT BETWEEN YOU AND US AND IT IS IMPORTANT THAT YOU TAKE THE TIME TO READ THEM CAREFULLY.
  1. Preamble
    1. Swipe International Ltd (Co. No. 12590979) is a company established in the United Kingdom in accordance with the Companies Act 2006, with a registered address at Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX. Swipe International Ltd, their subsidiaries and/or affiliates are hereinafter collectively known as “SwipeIntl”, “we”, “us” or “our”.
    2. SwipeIntl is the developer and owner of the SwipeIntl platform, which is inclusive of the mobile apps, the website at https://globalpayments.theswipecompany.com (the “WebSite”), and any related product, consumer item and/or any electronic account incorporating its technology. Your access to the WebSite is subject to these terms of use (the "Terms") as well as all applicable laws, regulations, codes, guidelines and/or policies.
    3. By accessing and using the WebSite, you accept and agree to the Terms without limitation or qualification and acknowledge that any other agreements you may have with SwipeIntl are superseded by the Terms, to the extent if any conflict exists.
    4. SwipeIntl may at any time revise these Terms by updating this posting. You are bound by such revisions and should therefore visit this page regularly to review the current Terms from time to time.
    5. SwipeIntl reserves the right, without notice and for any reason, to remove any content on the WebSite and to deny access of any user or users to all or any part of the WebSite.
  2. Usage of the website
    1. Unless otherwise specifically indicated, you may download material displayed on the WebSite for personal, non-commercial use only and you may not distribute, modify, transmit, use or reuse any of the contents of the WebSite for any public or commercial purpose without the written consent of SwipeIntl or any third party duly authorised by SwipeIntl. You must retain all copyright and other proprietary notices on downloaded and/or copied material from the WebSite. Any copy of material from the WebSite you make and distribute for any purpose must also include these Terms.
    2. You may not access or use the WebSite in any way that could or is intended to damage or impair the the WebSite and/or SwipeIntl, or any server or network underlying the WebSite, or interfere with the usage of the the WebSite by other persons.
  3. Copyrights and Other Rights
    1. You should assume that everything on the WebSite is copyrighted and/or trademarked unless otherwise noted, and that it must not be used except as provided in the Terms or with the express written consent of SwipeIntl or any third party duly authorised by SwipeIntl. SwipeIntl neither warrants nor represents that your usage of the material displayed on the WebSite will not infringe the rights of any third party(ies). Any information, write up, product, service, program or technology described on the WebSite may be the subject of other intellectual property rights (including but not limited to copyright, trademark or patent rights) owned by SwipeIntl. Any such right that is not expressly licensed herein is reserved by SwipeIntl.
    2. Images of people or places displayed on the WebSite are either the property of, or used with permission by SwipeIntl. Use of these images by you or any other third party(ies) is strictly prohibited unless expressly permitted in the Terms or elsewhere on the WebSite. Any unauthorized use of these images may violate copyright laws, trademark laws, the laws of privacy and publicity, and other applicable laws, rules, regulations codes, guidelines and statutes.
    3. Any information, write up, product, service, program or technology described in any document published by SwipeIntl on the WebSite may be the subject of other intellectual property rights owned by SwipeIntl. Any such right that is not expressly licensed hereunder is reserved by SwipeIntl.
    4. Apart from your personal information (which is addressed in the Privacy Policy), any communication or material you send to the WebSite, electronically or otherwise, including but not limited to data, questions, comments, suggestions or submissions is and will be treated as non-confidential and non-proprietary. Anything you send to SwipeIntl may be used by SwipeIntl for any purpose including but not limited to modification, reproduction, transmission, disclosure, publication, broadcast and posting.
    5. By submitting information and/or material to the WebSite, you irrevocably and unconditionally transfer and assign to SwipeIntl, and forever waive and agree never to assert, any copyrights, "moral" rights, rights of publicity or to privacy or other intellectual-property or proprietary rights that you may have in such material. SwipeIntl is free to use, without obligation of any kind, any ideas, concepts, techniques, know-how or any other information contained in any communication you send to the WebSite for any purpose whatsoever, including but not limited to developing, manufacturing, and marketing products and services.
    6. By using the WebSite, you may submit, or SwipeIntl may gather, certain limited information about you and your usage of the WebSite. Subject to the terms of the Privacy Policy, SwipeIntl is free to use such information for any purpose it deems appropriate.
  4. Trademarks
    1. The trademarks, logos and service marks (collectively known as the "Trademarks") displayed on the Websites are registered and unregistered Trademarks of SwipeIntl and others, in the United Kingdom, Malaysia, Hong Kong and other countries. Nothing contained on the WebSite should be construed as granting by implication, estoppel or otherwise, any license or right to use any Trademark displayed on the WebSite without the written permission of SwipeIntl or any such third party that may own the Trademark. Misuse of any Trademark or any other content displayed on the WebSite is strictly prohibited.
  5. No Warranties and Limitation of Liability
    1. To the maximum extent permissible by applicable law, SwipeIntl disclaims all warranties, express or implied, including but not limited to implied warranties of merchantability and fitness for a particular purpose. There is no warranty that any information or service provided or referenced by the WebSite is either accurate, that such information or service will fulfil any of your particular purposes or needs, or that such information or service does not infringe on any third-party rights. Except for any express warranties stated on the WebSite, if any, the information and services provided or referenced on the WebSite are provided “as is”, “as available”, and with all faults, and the entire risk as to satisfactory quality, performance, accuracy and effort are with the user.
    2. While SwipeIntl may use reasonable efforts to include accurate and up-to-date information on the the WebSite, we make no warranties or representations as to its accuracy, timeliness or completeness. SwipeIntl may periodically add, change or improve any of the information, products, services, programs and technology described on the WebSite with notice. SwipeIntl assumes no liability or responsibility for any errors or omissions in the content of the WebSite.
    3. Your use of the WebSite is at your own risk. To the maximum extent allowed by law, neither SwipeIntl nor any other parties involved in creating, producing or delivering the WebSite is liable for any direct, indirect, incidental, consequential or punitive damages, however caused, arising out of your access to, use of, or reliance on the WebSite, even if SwipeIntl has been advised of the possibility of such damages. For example, SwipeIntl assumes no responsibility for and will not be liable for any damages to or any viruses which may affect your computer equipment or other property on account of your access to, use of, or downloading from, the the WebSite.
  6. Other Agreements
    1. Your usage of the WebSite, or certain features or information provided through the WebSite, may be subject to additional agreements apart from the Terms.
    2. SwipeIntl may provide you with new or additional services associated with your usage of the WebSite from time to time, and these new products and/or services will be governed by the terms and conditions herein or as amended from time to time for the respective services.
  7. Legal Information
    1. The Terms will be governed by and construed under the laws of the United Kingdom. You agree to follow any applicable laws in your use of the WebSite. Each party accessing the WebSite hereby submits to the exclusive jurisdiction of the courts of United Kingdom and waives any jurisdictional, venue or inconvenient forum objections to such courts.
    2. Any failure by SwipeIntl to enforce any of its rights under the Terms or applicable laws shall not constitute a waiver of such right. If any provision of the Terms is found by a court of competent jurisdiction to be invalid, you, SwipeIntl and the court shall endeavour to give effect to the intent reflected in that provision and the remaining Terms provisions shall retain their full force and effect.
    3. Please also read over the SwipeIntl Privacy Policy published on the WebSite, which are part of the Terms and which you shall accept before your usage of the WebSite.
    4. If there is any inconsistency between the English, or any other version, the English version shall prevail.
    5. SwipeIntl may amend these Terms from time to time by publishing a notice of the change(s) and posting an updated version on the WebSite and/or by providing you notice of amendments when you access the WebSite. The change(s) shall take effect on the date of publishing such notice and posting an updated version of this Terms on the WebSite.
  8. Indemnity
    1. You hereby irrevocably agree to indemnify and keep SwipeIntl indemnified from all liabilities, claims, losses and expenses, including any legal fees that may be incurred by SwipeIntl in connection with or arising from:-
      1. Your use or misuse of the WebSite and the services and/or products provided herein;
      2. Your breach of this Terms howsoever occasioned; and/or
      3. Any intellectual property right or proprietary right infringement claim by a third party against SwipeIntl with your usage of the WebSite.
  • Severability
    1. If at any time during the continued operation of the WebSite any provisions, terms, conditions stipulations, undertakings or covenants of the WebSite is or becomes invalid, illegal, unenforceable, prohibited or void in any respect, the same shall be ineffective to the extent of such invalidity, illegality, unenforceability prohibition or voidness without invalidating the remaining provisions hereof.
  • Schedule: Definitions - Terms of Use

    "Affiliates" means, in relation to an entity, any person or entity Controlling, Controlled by or under common Control with such entity. An entity is deemed included within the meaning of “Affiliate” even if it qualifies as such after these Terms have been agreed to by a Client;

    "Authorised Person" means any person authorised by you to give us instructions in relation to the Global Account and/or Payment Services – Global Account and/or to conclude Orders on your behalf. A Business Introducer shall be an Authorised Person unless you have agreed otherwise;

    "Business Day" means any day other than a Saturday or a Sunday or a public or bank holiday in England;

    "Business Introducer" means the person with which we have entered into a Business Introducer Agreement. This person markets and promotes the Services, and unless you have agreed otherwise will act as an Authorised Person;

    "Client" means the person who is contracting with us for the provision of the Services;

    "Close Out" means any action we may take to close out, cover or reduce our exposure in relation to the relevant Contract including any action we reasonably consider appropriate in the circumstances;

    "Commercial Agreement" means the agreement between you (or your Business Introducer, if applicable) and us setting out the commercial terms for the provision of one or more of the Services. In the event that you have been introduced to us by a Business Introducer, then the Commercial Agreement shall be the commercial agreement between us and the Business Introducer;

    "Confidential Information" means confidential information of the other party concerning the other party’s business, plans, customers, clients, technology, services and products and other information held in confidence by the other party including all information in tangible or intangible form that is marked or designated as confidential or that, under the circumstances of its disclosure, should be considered confidential. Our Confidential Information will include, but not be limited to, the SwipeIntl Technology, and your Confidential Information will include, but not be limited to End Customer data and Personal Data. Information will not be deemed Confidential Information if such information: (i) is known to the receiving party prior to receipt from the disclosing party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing party; (ii) becomes known (independently of disclosure by the disclosing party) to the receiving party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing party; (iii) becomes publicly known or otherwise ceases to be secret or confidential, except through a breach of these Terms of Use by the receiving party; or (iv) is independently developed by the receiving party. The receiving party may disclose Confidential Information pursuant to the requirements of a governmental agency or by operation of law, provided that it gives the disclosing party reasonable prior written notice sufficient to permit the disclosing party to contest such disclosure and it is not itself unlawful to give such notice;

    “Consumer” means (a) an individual who, in contracts for payment services to which the PSRs 2017 apply, is acting for purposes other than a trade, business or profession; (b) an enterprise which, at the time at which the contract for payment services is entered into, is an enterprise as defined in Article 1 and Article 2(1) and (3) of the Annex to Recommendation 2003/361/EC of 6th May 2003 concerning the definition of micro, small and medium-sized enterprise; and (c) a body whose annual income is less than £1 million and is (i) in England and Wales, a charity as defined by section 1(1) of the Charities Act 2011; (ii) in Scotland, a charity as defined by section 106 of the Charities and Trustee Investment (Scotland) Act 2005; or (iii) in Northern Ireland, a charity as defined by section 1(1) of the Charities Act (Northern Ireland) 2008;

    "Contracts" means any one or more of the agreements between you and us for the sale, purchase, and delivery of currency;

    "Control" of an entity means the power, direct or indirect, to direct or cause the direction of the management and policies of such entity, whether by contract or otherwise, and in any event and without limitation of the foregoing, any entity owning more than 20% of the voting securities of a second entity shall be deemed to control that second entity.

    Derivative forms of the term “Control” (e.g. Controlling and Controlled by) have corresponding meanings;

    "Data Controller" has the meaning set out in the Data Protection Legislation (or, in respect of the GDPR, means the same as "controller" in Article 4 of GDPR).

    "Data Processor" has the meaning set out in the Data Protection Legislation (or, in respect of the GDPR, means the same as "processor" in Article 4 of GDPR);

    "Data Protection Legislation" means (in each case as such are updated, amended or replaced from time to time): (a) the UK Data Protection Act 1998 (as amended or replaced from time to time), (b) from its effective date (25 May 2018), the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 (General Data Protection Regulation) (the "GDPR"), and any laws or regulations ratifying, implementing, adopting, supplementing or replacing GDPR (including the UK Data Protection Act 2018), in each case, to the extent in force; and (c) any other relevant data protection legislation in any jurisdiction which is applicable to the Services, including but not limited to the Privacy and Electronic Communications (EC Directive) Regulations 2003.

    "Data Subject" means an individual who is the subject of Personal Data;

    "Delivery Date" means the date on which we will deliver currency that has been purchased by you, provided you have fully paid for the purchased funds and complied with these Terms of Use. The Delivery Date must be a Business Day;

    "DP Regulator" means any governmental or regulatory body or authority with responsibility for monitoring or enforcing compliance with the Data Protection Legislation;

    "Durable Medium" means a medium which allows you to store information in a way accessible for future reference for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored; "End Customer" means any person other than us who contracts with you, including without limitation any client you engage in connection with the Platform Services;

    "Fees" shall mean the charges payable by you to us for the Services as set out in these Terms of Use and our Commercial Agreement with you, or payable by the Business Introducer to us pursuant to our Commercial Agreement with the Business Introducer, if applicable;

    "FCA" means the Financial Conduct Authority of the United Kingdom whose address is 25 The North Colonnade, Canary Wharf, London E14 5HS, United Kingdom; further information on the FCA can be obtained on the FCA’s website at www.fca.org.uk;

    "Foreign Exchange Services" means the foreign exchange services provided by SwipeIntl including quoting and execution of foreign exchange contracts to sell and buy currency;

    "Global Account" means the electronic money account you open and maintain with SwipeIntl, also referred to from time to time as Primary Account and/or Named Account;

    "Group Companies" means in relation to a company those companies which are subsidiaries, holding companies or subsidiaries of any holding company of such company, where the terms "subsidiary" and "holding company" bear the meaning given to them in section 1159 of the Companies Act 2006;

    "Insolvency Event" means in relation to either party: If such party becomes insolvent or a bankruptcy petition is presented against any such person or any steps are taken to appoint an administrator, judicial factor or similar officer to any such party or to commence the winding up or dissolution of any such party or to otherwise apply to the court for a moratorium or make a proposal to creditors for a voluntary arrangement or any such party grants a trust deed for creditors or takes any action with a view to the readjustment, rescheduling forgiveness or deferral of any part of any such party’s indebtedness or any such person enters into any arrangement, compromise or composition with or assignment for the benefit of its creditors or any class of them (except for the purposes of a solvent reconstruction or amalgamation), or a receiver, receiver and manager, or other controller, administrator or similar officer to be appointed with respect to, or takes control of, the assets or undertakings of any such party;

    "Losses" means all losses, liabilities, fines, charges, damages, actions, costs and expenses, professional fees (including legal fees actually incurred) and disbursements and costs of investigation, litigation, settlement, judgment, interest and penalties;

    "Margin" means collateral paid by you to us, including additional margin and increased margin; "Order" means the accepted commercial terms of a Contract (which will incorporate these Terms of Use);

    “Payer” means a third party that sends funds to us on your and/or your End Customer’s behalf.

    "Payment Platform" means the SwipeIntl online Payment Platform that provides the functionality and connectivity via the API or SwipeIntl Direct;

    "Payment Services – Global Account" means the emoney and payment services provided by SwipeIntl to you including the receipt and holding of funds in the Global Account and execution of payment services or transactions on your behalf;

    "Personal Data" has the meaning given to it by the Data Protection Legislation;

    "Platform Services" means the access to information and market data via the Payment Platform provided by us to amongst other things, facilitate the booking and management of payments, track trades and report on balances and transactions on your Global Account;

    "Regulations" means the Electronic Money Regulations 2011 and the Payment Services Regulations 2017 as (as amended and replaced from time to time);

    "Services" means the Payment Services – Global Account, Foreign Exchange Service, EUR Collection Service, GBP Collection Service, SWIFT Collection Service, and Platform Services provided by SwipeIntl to you as described in these Terms of Use;

    "Settlement Date and Time" means the date and time specified within the Contract, by which funds must be received by or available to SwipeIntl;

    "UK Business Hours" means Monday through Friday 9:00 am to 5:00 pm;

    "Terms of Use" means these terms and conditions including the schedules and any other terms and conditions referred to herein, the Privacy Policy, all as amended from time to time;

    "You" or "your" means you, the person who is contracting with us for the provision of the Services.