Lalit Money Transfer (Company Registration No 29003/060 under Company Registrar’s Office of Ministry of Industries, Commerce and Supplies of Government of Nepal) a company registered under the laws of Nepal whose registered office is at Unlimited Building, Khichapokhari, Kathmandu, Nepal. 

Lalit Money Transfer P Ltd was incorporated in June 29, 2004. It is a licensed remittance company under the Foreign Control Act 1965 and is directly under the preview of Nepal Rastra Bank, Nepal 

Lalit Money Transfer has joined forces with PayTop to enable its customers to take advantage of these services from the European Union. PayTop has experience and expertise in the distribution of this type of service as a white-label service. 

In consequence of the foregoing, this Payment Services Framework Contract is entered into between: 

the Customer, who is a natural person who resides in a European Union Member State or a European Economic Area State, and who acts on his/her own behalf for non business purposes, hereinafter the “Customer”, party of the first part, and PayTop S.A.S, which has share capital of €4 509 962,50 euros whose registered office is at 5 rue de la Baume, 75008 [Paris], which is registered in the Paris Trade and Companies Register under number 487 568 446, and which is authorised as a payment institution under number 16 408 and is supervised by the ACPR, whose address is 4 place de Budapest, CS 92459, 75436 Paris Cedex 09 (http://www.acpr.banque france.fr/accueil.html). This authorisation is available for review in the public register at the following address: https://regafi.fr. PayTop’s website can be accessed at the following address: http://www.paytop.com hereinafter the “Institution”, party of the second part. Hereinafter referred to jointly as the “Parties”.

• Funds transfers in euros and foreign currencies 

• Credit transfers linked to a Payment Account in euros or foreign currency 

The Institution provides other Payment Services which result in funds being credited to the Account, such as the acquisition of credit transfer orders. 

Opening an Account for the Customer will be conditional on the availability of the service in the Application. 

The Account opened in the Customer’s name is not a bank account. The Account will not generate interest and no overdraft on the Account will be authorised. 

The Payment Services are provided in consideration for the Customer’s payment of the fees agreed in Clause 3 hereof and in the Schedule of Fees and Charges set out in Title III. The Institution does not accept deposits of cash or cheques and does not offer any payment services other than those specifically described in this Framework Contract.

Payee: A legal or natural person designated as the recipient of a Payment Transaction. 

• telephone: +33 (0) 1 40 51 02 96 

• email: lalitmoney@paytop.com 

• postal address: PayTop, Service Clients (Customer Service), 5 Rue de la Baume, 75008 Paris 

A simulation is available for each Payment Transaction before the Payment Order is issued, which informs the Customer of any transfer fees, foreign exchange fees and value added tax applicable to the Payment Transaction. 

If a Payment Order is revoked additional fees may be incurred, which will be indicated in advance to the Customer.

The Customer represents that all information and documents provided for identification purposes are accurate and up to date. He/she shall notify the Institution via his/her Personal Space of any changes concerning his/her information and documents.

• a selfie (photographic self-portrait) 

• Verification of valid official identity document 

• Electronic signature 

The Institution reserves the right to make subscription to the Payment Services and/or the opening of the Payment Account conditional on receipt of any other document it deems necessary to meet its anti-money laundering and counter-terrorism financing obligations.

The Institution may refuse to register the Card or cancel the Card details stored at any time for security reasons. In such case, the Customer must enter his/her Card’s number at each subsequent use. 

The Customer is hereby informed that the Institution sets funds transfer limits that may be more restrictive than the Issuer’s limits.

For this purpose, during the subscription process, the Customer will be required to check the box provided. The Parties acknowledge that this signature will have the same value as a handwritten signature. The Framework Contract will be deemed to have been entered into as from its acceptance by both Parties.

I. Open and maintain a Payment Account in the Customer’s name, execute Payment Transactions linked to such Account, and provide currency conversion services associated with such Payment Transactions; and/or 

II. Provide Funds Transfer Services; and/or 

III.Credit the funds transferred by Card or credit transfer to the Account, in accordance with the terms and conditions set out herein. 

Opening an Account for the Customer will be conditional on the availability of the service in the Application. 

The Customer may change its choice at any time by accepting the Special Terms and Conditions applicable to the Service chosen, subject to the Institution’s acceptance, which will be notified to him/her by any means.

If the Account has sufficient available funds, the Customer can issue a credit transfer payment order via his/her Personal Space by logging on to the Application using his/her Personalised Security Credentials. The credit transfer may be made to a bank account registered beforehand by providing a bank account details form to the Institution; or to a Payee’s account with a third-party payment service provider located within the SEPA area; or to a Payee’s account with a third-party payment service provider located outside the SEPA area; or to a partner branch to enable a Payee to make a cash withdrawal. 

The Customer must confirm his/her irrevocable consent by clicking on the corresponding button at the end of the payment process after the required information has been entered and the summary confirmed, in accordance with the associated personalised security system to guarantee the security of the Payment Transaction. 

For credit transfers to a Payee, the Customer must provide the following information: the country of destination, the bank that holds the receiving account, the IBAN of the receiving account, the first and last names of the Payee, the telephone number of the Payee, the currency, the amount of the payment, the origin of the funds, and the reason for the credit transfer. 

The Institution is not responsible for the information provided by the Customer, particularly with regard to the Payee designated by the unique identifier. If the unique identifier for the Payee provided by the Customer is inaccurate, the Institution will not be liable for the incorrect execution of the Payment Transaction. However, the Institution will endeavour to recover the funds involved in the Payment Transaction. If the Institution is unable to recover the funds involved in the payment transaction, it will provide the Customer, at his/her request, with the information it holds that may be used as evidence in a legal action to recover the funds. If applicable, the Customer may be charged for recovery costs. 

When consent has been given, the Institution will confirm receipt of the Payment Order and execute the credit transfer transaction no later than one Business Day from the date the credit transfer order is received if it is denominated in euros. 

The Customer may receive a notice on his/her Personal Space informing him/her that the Institution has refused to execute the Payment Order. The Institution may refuse to execute a transfer in the event of serious suspicion of fraudulent use of the Payment Account, unauthorised use of the Payment Account, breach of the security of the Payment Account, asset-freezing measures imposed by an administrative authority, or any other reason. The Institution will inform the Customer as soon as possible and will indicate the reason if permitted by law. 

• Acceptance of a credit transfer transaction 

The Customer’s Payment Account enables credit transfers in euros to be received and credited to the Account. The funds will be credited to the Account no later than the end of the Business Day on which the Institution receives the funds or after completion of the conversion operation for funds received in a currency other than the euro. The Statement of transactions will show the amount of the transfer order accepted on the Account, the date, time, transaction number and name of the obligor. The Institution will debit from the Account the amount received by credit transfer if it was issued or credited in error. 

• Payment initiation (Article L314-1(II)(7°)) 

The Institution does not provide payment initiation services. However, the Customer may obtain this service through another payment service provider. The Institution is not responsible for the terms and conditions applicable to such service. In any event, the Account must have sufficient funds to carry out such payment transaction. 

The Institution may refuse to carry out a credit transfer transaction initiated if it suspects fraudulent use of the Account by the third-party payment service provider.

The Special Terms and Conditions for the Funds Transfer Service are set out in Title II hereof.

Currency conversion transactions will be carried out on the basis of the purchase or sale price of the relevant currency on the day the funds are received, or the Payment Order is issued, provided this occurs before the cut-off time and, otherwise, on the following Business Day. 

The Customer acknowledges that foreign exchange or service fees may be charged in accordance with the applicable Schedule of Fees and Charges. He/she agrees to bear the currency risk due to fluctuations in the exchange rate of the relevant currency

The Customer’s username is his/her personal email address. His/her password will be sent to him/her by SMS on the day the subscription is validated. This username and password enable the Customer to access his/her Personal Space on the Application and access his/her Account and the statements of Payment Transactions carried out. The Customer may change his/her username or password at any time via his/her Personal Space. He/she is advised to change his/her password regularly. 

For any given Payment Transaction, the Customer may be asked to enter a unique confidential code sent by SMS to the telephone number he/she has provided. The Customer will have three attempts to enter the code. To ensure the continuity of the Services, the Customer shall inform the Institution of any change in his/her telephone number or interruption of telephone service (theft of the telephone). 

The Customer is responsible for safeguarding his/her Personalised Security Credentials. He/she shall not disclose them to any unauthorised third party. The Customer shall inform the Institution of any disclosure or theft of the Personalised Security Credentials of which he/she becomes aware. 

The payment procedure associated with the Personalised Security Credentials set out above has the same value as an electronic signature of the Customer enabling him/her to be identified and proving his/her consent. 

The Institution may block access to the Account by any service provider offering initiation and information services on the Account if it has good reason to suspect a risk to the security of the Account.

Nevertheless, earlier transactions can still be viewed by submitting a request to Customer Service. The Institution will keep records and documents of Payment Transactions on electronic storage media during the applicable regulatory periods. 

Each year, a summary statement of fees will be sent to the Customer if he/she has paid fees, unless he/she expressly requests that it be provided in his/her Personal Space. 

The Customer must carefully review all Statements in order to regularly monitor his/her Payment Account and the Payment Services in general. Any failure to do so may constitute negligence on his/her part. The Customer shall inform the Institution in writing of any anomaly or error as soon as the Statement is received or made available. He/she will be deemed to have approved a Statement within two months from the date it is received or made available, without prejudice to any legal recourse he/she may have under the statutes or regulations. In the event of a complaint, Customers must comply with Clause 17 hereof.

If the Customer becomes aware of a theft or loss of his/her credentials, he/shall promptly request that the Payment Account and his/her Personal Space enabling him/her to subscribe to Payment Services be blocked. For this purpose, the Customer shall regularly review the activity on his/her Account. Such request shall be submitted by email to Customer Service. If requested, it shall be confirmed by a registered letter with acknowledgement of receipt sent to the Customer Service. The Customer is hereby informed that any false report in this connection is subject to the penalties provided for by law. 

The registration number assigned to this blocking request will be provided to the Customer and will be kept for 18 months. If the Customer makes a written request before expiry of this period, the Institution will provide him/her with a copy of the blocking request. 

The Institution will take immediate action in response to the blocking request by blocking the Payment Account and the provision of Payment Services. The Institution shall not be liable for the consequences of a blocking request that is not made by the Customer. A blocking request will be deemed to have been made on the date the request is actually received by the Institution or any person it appoints for this purpose. In the event of theft or fraudulent use, the Institution is entitled to request a receipt for or a copy of the complaint filed by the Customer, who shall provide it as soon as possible. 

In addition, the Institution may, on its own initiative, block the use of the Payment Account and the provision of Payment Services for security reasons, in the event of suspected unauthorized or fraudulent use, or in the event of a significantly increased risk that the Customer will be unable to perform his/her payment obligations. The Institution will provide the grounds for such decision and notify the Customer thereof by any means. If the Institution receives a significant number of refund requests, order cancellations or disputes of unauthorized orders, the Institution may block the use of the Payment Services. 

In the event of a major operational or security incident, the Institution is required to report such incident to the competent authorities. If the incident impacts or may impact the Customer’s financial interests, the Institution will give notice, without undue delay, of all available measures he/she can take to mitigate the detrimental effects of the incident.

The Customer may automatically terminate the Framework Agreement by giving one month’s notice by registered letter with acknowledgement of receipt. He/she shall maintain a sufficient balance on his/her Payment Account to enable proper completion of Payment 

Transactions and Payment Services, as well as the payment of the related fees. After six months, this Contract may be terminated without charge. 

In accordance with the same requirements, the Customer may also request the termination of a single Service offered by the Institution. Such termination may result in the termination of another related service. 

The Institution may exercise any right to retain possession of the sums or Available Balances it holds on behalf of the Customer in order to set them off against all certain and payable debts owed under this Contract. It may also exercise this right of retention with respect to any Customer to cover any future debt that may arise due to the reversal of a transaction credited to the Payment Account, for a period of up to thirteen (13) months after the date the transaction is posted to the Payment Account. 

The Institution may automatically terminate the Framework Agreement by giving two months’ notice by registered letter with acknowledgement of receipt. 

In the event of a material breach by a Party, the other Party may terminate the Framework Agreement, effective immediately, simply by giving written notice. 

Material breaches by the Customer include any intentional communication of false information, any illegal or immoral activity, any suspicion of money laundering or terrorism financing, any threats against the Institution’s employees, any payment default, any breach of an obligation owed by the Customer under this Contract and any over-indebtedness situation. 

Material breaches by the Institution include any communication of false information, any breach of an obligation under this Contract, the appointment of an insolvency trustee (mandataire ad hoc) or judicial receiver (administrateur judiciaire) and the opening of administration or liquidation proceedings. 

In the event of a change in the applicable laws or the interpretation thereof by the relevant regulatory authority that impacts the ability of the Institution or its representatives to provide the Payment Services, the Framework Contract will terminate automatically, in which case the termination will not confer any right to indemnity or compensation.

Any Customer who uses a Payment Service involving the use of an electronic means of communication (telephone, email, internet, etc.) agrees to the recording and processing of the related electronic communications, including the content thereof and associated traffic data, for the purposes of proving Payment Transactions and the performance of payment and foreign exchange services, compliance with all applicable statutes and regulations, management of contractual relations, preventing abuse and fraud, producing statistics and tests, training the Institution’s staff, and quality control of the payment and foreign exchange services. Data in relation to electronic communications and the content thereof may be retained until the end of the period during which the Payment Transaction may be disputed before the courts.

I. No Payment Transactions have been carried out on the Payment Account for a period of twelve months (excluding debits of fees and costs of any kind by the Institution that holds the account) and the Customer has not contacted the Institution in any manner. 

II. At the end of a period of 12 months following the Customer’s death. 

The Customer and his/her successors in interest are hereby informed of the consequences thereof. The assets held on the inactive Payment Account will be deposited with Caisse des Dépôts et Consignations at the end of a period of ten years from the date of the last Payment Transaction, excluding debits of fees and costs of any kind by the Institution that holds the account.

Unless expressly waived by the Customer, performance of the Payment Services linked to the Account may begin only after the withdrawal period expires. Issuing a Payment Order, in any form, before the withdrawal period expires will be deemed an express and immediate waiver by the Customer of his/her right of withdrawal. Despite the early execution of a Payment Transaction before the withdrawal period expires, the Customer may still withdraw from the Framework Contract in accordance with the above provisions after payment of the sums owed for the services provided. 

The right of withdrawal applicable to the Funds Transfer Service is described in Title II.

The information and data about the Customer will be processed by PayTop, in its capacity as data controller, and will be shared with Lalit Money, in its capacity as joint data controller. Certain data will be sent to sub-processors located in a European Union Member State or a European Economic Area State for purposes of performing the Payment Services. The Institution will ensure that each sub-processor will protect the personal data in accordance with the law. The Customer may at any time obtain the list of authorised third parties by contacting Customer Service directly. Personal data may also be verified with other organisations, and thus additional information about the Customer may be obtained, in order to verify his/her identity and comply, in particular, with the applicable anti-money laundering and counter-terrorism financing laws. A record of searches carried out will be kept in the file. 

The collection and processing of personal data is necessary to manage the Application and provide the Payment Services; to personalise the Services the Institution offers and the information it sends out; to establish proof of Transactions; to comply with anti fraud, anti-money laundering and counter-terrorism financing obligations; to send sales and advertising communications by telephone, post, SMS or email, subject to obtaining your consent if necessary; and to generate accounting information and statistical data. Each data processing operation is justified by a legal basis that complies with and is adapted to the legislation in force, whether for the purposes of performance of the Contract, compliance with a legal obligation, performance of a task carried out in the public interest or in the exercise of official authority, or the protection of a vital or legitimate interest, or is based on your freely given and unambiguous consent to said processing. 

The retention period for this data varies depending on the purpose of the processing operation. For example, to comply with its anti-money laundering and counter terrorism financing obligations, the Institution is required to retain personal data for a period of five (5) years from the execution of payment transactions; for five (5) years in the case of proof of transactions; for three (3) years from the end of the business relationship in the case of direct marketing; for six (6) months in the case ofrecordings of telephone calls to Customer Service; for five (5) years from closure of the Account in the case of identity information; and for ten (10) years in the case of accounting information. 

In accordance with the personal data protection laws in force, the Customer has a right to the portability of the data he/she provides, a right to access the personal information he/she provides, a right to object to processing and a right to rectify information about him/her if it is inaccurate or incomplete. To exercise these rights, simply write to Customer Service, providing your first and last names and references, at: PayTop, Service Clients (Customer Service), 5 rue de la Baume, 75008 Paris, France, or at lalitmoney@paytop.com 

By writing to this same address, the Customer may also request that data processing be restricted or that data that has been unlawfully processed be deleted. Finally, the Customer may provide instructions about the retention, deletion and disclosure of his/her personal data after his/her death. At this same address, he/she may also request to be put in contact with the data protection officer in order to answer any questions about data protection. Furthermore, the Customer may register with the telephone marketing opt-out database solicitation on the following website: www.bloctel.gouv.fr. The Customer may also contact the French Data Protection Agency (CNIL) (www.cnil.fr). 

The Institution’s data protection policy is available at any time on the Application or upon request from Customer Service. 

In accordance with Article L.522-19 of the French Monetary and Financial Code, the Institution is bound by professional secrecy. However, in accordance with the laws in force, this secrecy may be lifted pursuant to a regulatory and prudential legal obligation, in particular at the request of the supervisory authorities or the tax or customs authorities, as well as at the request of the criminal courts pursuant to Article L.562-4 of the French Monetary and Financial Code or in the event of a judicial order served on the Institution. Notwithstanding the foregoing, the Customer may waive the Institution’s professional secrecy obligations by informing it in writing of the third parties who are authorised to receive confidential information about him/her. Professional secrecy is lifted by law in favour of companies that perform important operational tasks under this Contract on behalf of the Institution, as well as in favour of any authority or recipient designated by law.

The Customer shall provide all documents or information requested by the Institution. 

He/she acknowledges that the Institution may be required to set up monitoring systems to combat money laundering and the financing of terrorist activities. 

The Customer acknowledges that the Institution may at any time terminate, refuse to execute or postpone the execution of a Payment Transaction if it has insufficient information about its purpose or nature. He/she is hereby informed that any Payment Transaction carried out under this Contract may be reported to the national financial intelligence unit. 

In accordance with the law, if the information concerns the Customer, the Customer may access all information so reported, provided such right of access does not compromise the purpose of combating money laundering and terrorism financing. 

No proceedings based on Articles 226-13 and 226-14 of the French Criminal Code (Code pénal) and no civil liability action may be brought against, or any professional sanction imposed on, the Institution, its officers or its employees or against any other person listed in Article L.562-1 of the French Monetary and Financial Code if they have in good faith submitted the reports referred to in Articles L.561-22 of the same code.

If a Payment Transaction is executed incorrectly by the Institution and the Institution is at fault, the Payment Transaction will be cancelled so as to restore the situation in existence before receipt of the relevant Payment Order. Thereafter, the Payment Order will be re-transmitted correctly. 

Customers who wish to dispute a Payment Transaction they did not authorise shall contact Customer Service as soon as possible after becoming aware of the anomaly, and no later than 13 months after the Payment Transaction is posted to his/her Account or is executed. The Institution shall refund the Payment Transaction and restore the situation that would have existed if the disputed Payment Transaction had never been carried out, and in any event no later than the end of the next Business Day, unless it has good reason to suspect fraud and if it reports these reasons in writing to the Banque de France. If applicable, the Issuer shall restore the account debited to the state in which it would have been had the unauthorised payment transaction not taken place. 

If the Customer’s Personalised Security Credentials are used, the Customer shall bear the losses due to unauthorised Payment Transactions made before notice is given, up to a maximum of €50. However, the Customer shall not be liable in the event of an unauthorised Payment Transaction carried out without the use of his/her Personalised Security Credentials or in the event of a loss due to the act or omission of an employee, an agent or a branch of a payment service provider or an entity to which its activities have been outsourced. 

The Institution shall not be liable in the event of wrongful conduct on the part of the Customer, such as gross negligence or an intentional breach of his/her obligations, delay in submitting a blocking request or bad faith. If the Customer’s credentials are misappropriated or counterfeited, the losses due to Payment Transactions carried out before the Customer submits a blocking request shall be borne by the Institution, except in the event of wrongful conduct as defined above. Losses due to Payment Transactions carried out after the Customer submits a blocking request shall be borne by the Institution except in the event of fraud. 

Complaints may be submitted free of charge to Customer Service in accordance with the complaints handling charter. A response will be provided within a maximum period of fifteen Business Days from receipt of the complaint. However, exceptionally, the Institution may provide a response within 35 Business Days. This longer time period will apply if a response cannot be provided sooner for reasons beyond the Institution’s control. The Customer will be notified of this longer time period and will be informed of the reasons and the final date for the response. 

If an amicable agreement cannot be reached, the Customer may submit a complaint to Customer Service or submit the matter, by post, to an independent Ombudsman, to whom the matter may be referred, free of charge, if the dispute arises from the application of this Contract, without prejudice to other legal recourse. The Ombudsman may be contacted at the following address: Le Médiateur de l’AFEPAME, c/o WEBHELP – Zac de Gray – Impasse Clément Ader 70100 Gray, France. 

The Ombudsman will not examine a dispute if: • The Customer fails to prove that he/she first attempted to resolve the dispute directly with the Institution by submitting a written complaint to Customer Service, to which he/she did not receive a satisfactory response within one month 

• The request is manifestly unfounded or wrongful • The dispute has already been reviewed or is in the process of being reviewed by another ombudsman or a court 

• The Customer has submitted its request to the Ombudsman more than one year after having submitted its written complaint to the Institution • The dispute is not within the scope of his jurisdiction 

At the conclusion of the case processing period (no longer than 90 days), the Ombudsman will recommend, in French, a solution to the dispute. The disputes, statements made and opinions rendered may not be produced or asserted in any proceedings (other than 

the mediation) without the agreement of the parties.

Unless otherwise provided in this Contract or in laws of mandatory application, and without prejudice to other grounds for excluding or limiting liability provided herein, the Institution shall under no circumstances be liable for any damage caused by a force majeure event or an event beyond its control or by any measure or legislative provisions adopted by the French or foreign authorities. Force majeure events and events beyond the Institution’s control include, but are not limited to: power failures, fires, floods, strikes by its staff or any of its subcontractors or suppliers, malfunctions of the interbank or credit card payment systems, wars, disturbances, riots or occupations of territory by foreign forces, pandemics and negligence by a third party within the meaning of the caselaw and the learned commentary, such as of the persons responsible for providing electricity or telecommunication services.

Communications will be made electronically, in particular by email or via the Customer’s Personal Space. The Customer may also submit requests to Customer Service by telephone or by post. Communications with Customer Service must be in French or English.