1.2 The Terms regulate your access to and use of Binance Pay Platform (as defined below). All payment and other related services provided as part of the Digital Payment Service and the Platform are governed by the terms and agreements between you and the respective service providers designated by us.
1.3 The services of Binance Pay are only provided in specific countries currently and will be expanded to other territories at our discretion. We also reserve the right to choose at our sole and absolute discretion, the markets and jurisdictions to conduct business, and may restrict or refuse in our sole and absolute discretion at any time, the provision of Binance Pay in certain countries or regions (including but not limited to situations where such restrictions are required to ensure compliance with any applicable legal and regulatory obligations).
1.4 The Terms, as amended from time to time, are available to you on the Platform or upon request. If you do not agree to the Terms as well as amendments that may be made from time to time (if any), please do not sign up for or continue to access or use our services or the Platform. Users in certain regions may have different Terms applicable to them, which are to be enacted and may updated by us from time to time.
1.6 For clarity, your subsequent and continued access to and use of Binance Pay and Platform shall constitute continued acceptance of these Terms and all other terms that are incorporated herein, including any updates or modifications to them from time to time.
2.2 "Binance Pay Platform" or "Platform" represents the mobile apps for Android or iOS or other platforms, integrating the following services provided by our cooperative service providers or us:
2.2.1 Binance Pay Wallet and Digital Payment Services as set forth in Section 4.1 and 4.2 hereof, which are governed by the present Terms;
2.2.2 crypto-fiat exchange services provided by the respective service provider(s) designated by us; and
2.2.3 other related services provided by us or the respective service provider(s) designated by us.
2.3 "Digital Payment Service", "Binance Pay Service" or "Binance Pay" means a service providing a set of digital payment methods provided by us and respective service provider(s) designated by us to facilitate payments in connection with your online transactions concluded on and through the Platform.
2.4 "Binance Pay Wallet" means a product containing a set of Platform functionalities, which consists of the possibility to create and maintain a client profile (the "Client Profile") in the Binance Pay Platform. The Client Profile provides you the possibility to:
2.4.1 open, maintain and use a virtual wallet under your Client Profile, through which you can top up, manage and save various types of cryptocurrencies and other like assets deemed acceptable to us from time to time and under certain situations (the "Cryptocurrencies") (for clarity, we reserve the right at our sole discretion to dictate the types of cryptocurrencies and other like assets which may be deemed acceptable to us, as part of our provision of Binance Pay Services);
2.4.2 transfer the Cryptocurrencies from your spot trading wallet under Binance Account or other crypto wallets deemed to be acceptable by us from time to time, to the Binance Pay Wallet.
3.1 You acknowledge and agree that a condition for becoming a Binance Pay user and register a Client Profile is to fulfill the following steps:
3.1.1 first applying for a Binance Account;
3.1.2 navigating to the Binance Pay Platform located on the Binance Platform;
3.1.3 agreeing with these Terms, as well as other legal documents if applicable；
3.1.5 agreeing with terms, agreements, privacy policies, rules and policies (if any) provided by third-party service providers which are necessary for you to enjoy certain services they provide on the Platform;
3.1.6 entering valid and accurate data, such as your Binance Account, your name, country of residence, mobile phone number and other, as required by us; and
3.1.7 verifying your mobile phone number and/or additional identification information as indicated by our appointed processor or us.
3.2 You hereby declare that you are registering for Binance Pay on your behalf only and that you are not acting on behalf or account of a third party.
3.3 Eligibility for Binance Pay
3.3.1 To be eligible to use any functionalities of the Binance Pay, you must (i) be at least 18 years and have the full right, power, and legal authority to enter into the Terms; (ii) be a resident of specific countries listed in the Platform; (iii) has a valid and active Binance Account and/or other cryptocurrency accounts acceptable to us; and (iv) comply with other qualification requirements set forth in the Binance Terms.
3.3.2 Upon registration for Binance Pay and during the validity period hereof, you must provide current, complete, and accurate information by personalizing your Client Profile, as requested by us, and maintain that information as current and accurate during your use of Binance Pay.
3.4 You acknowledge and agree that we and/or our appointed processors shall be entitled to, and you shall cooperate with and assist us and/or our appointed processor to, undertake identification, credit, anti-money laundering, counter-terrorism financing, KYC and other necessary checks and screenings required to comply with our internal compliance policies and applicable laws, at any time during your registration and use of service when our appointed processors or we deem necessary in our or their sole discretion. You also acknowledge and agree that all information you provide to us must be complete, accurate and truthful at all times. You must update this information whenever it changes. We cannot be responsible for any financial loss arising out of your failure to do so. We and/or our service providers (if any) may also ask you at any time to confirm the accuracy of your information and/or provide additional supporting documents. You also acknowledge and agree that we may share such information with our service providers (if any), if our service providers require such information for legal and regulatory compliance purposes, or as part of service delivery to you.
4.1 Binance Pay Wallet Functionalities
After completion of registration and verification, you can use the following Binance Pay Wallet functionalities:
4.1.1 to open and maintain your Binance Pay Wallet as well as top up and save Cryptocurrencies that may be accepted by us from time to time into the Binance Pay Wallet, via transferring from other Platform in your Binance Account or any other method acceptable by us;
4.1.2 to withdraw Cryptocurrencies from the Binance Pay Wallet to other wallets in your Binance Account or any other cryptocurrency wallets acceptable by us;
4.1.3 to track and check the crypto balance and trading information of use of Binance Pay; and
4.1.4 other functionalities we provide from time to time as set forth and updated in the publications on Binance Platform or Binance Pay Platform.
4.2 Binance Pay Service
After completion of registration and verification, as well as activation of Binance Pay Wallet, you can use Binance Pay Service with your Binance Pay Wallet on the Mobile App as set forth in the below.
4.2.1 To Send Cryptocurrency To The Other Binance Users. You can send Cryptocurrency to the other Binance users via scanning their respective QR code with the Binance Pay mobile app. We may, at our discretion, impose limits on the amount of cryptocurrency you can transfer, including the amount you send for purchases. You can view any sending limit by logging into your Binance Account. We may increase your sending limits if you complete the same steps to verify your information as is required for the removal of withdrawal limits.
4.2.2 To Receive Cryptocurrency From The Other Binance Users. If the Other Binance user sends cryptocurrency to you, the amount of cryptocurrency will appear in your Binance Pay Wallet balance. Binance may, in its sole discretion, limit you to withdraw the cryptocurrency you received in a period of time for AML or other compliance reasons.
4.2.3 To Make Payments To A Merchant or service provider. You can purchase goods or services from a third party merchant or service provider using Binance Pay, by debiting the corresponding amount of Cryptocurrency required to fund your purchase, from your Binance Pay Wallet. This includes but is not limited to: a) making a purchase at an online merchant website and selecting Binance Pay as your payment method at checkout, b) making a payment to a merchant for goods or services via scanning their respective QR code with the Binance Pay mobile app, and c) making a purchase from a third party merchant or service provider, via the Binance Pay Platform, whether through merchant’s or service provider’s mini-program (embedded in Binance app platform) or otherwise. In order to manage risk, Binance Pay may limit the payment methods available for a transaction when you make a purchase. In addition, payment methods may be limited for certain merchants or service providers or if you make a Binance Pay payment through certain third-party websites or applications.
If your payment requires conversion by us, the transaction exchange rate will be determined and applied as described in the Section 4.3 hereof and will be determined at the time the payment is processed.
4.3 Other services
After completion of registration and verification, as well as activation of the Binance Pay Wallet, and after you make or receive payments in Cryptocurrency, you may thereafter choose to sell Cryptocurrencies in exchange for certain fiat currencies. For the avoidance of doubt all such services are provided solely by our designated service providers. Our role in this regard is limited solely to being a technology services provider and facilitator to enable you to avail yourself of these crypto-to-fiat functionality, by connecting and integrating with, and conveying your instructions to, our designated services provider. In the event you instruct our designated service provider to make a conversion, the conversion will be completed at the transaction exchange rate set by our service provider for the relevant currency exchange. The transaction exchange rate is adjusted regularly and unless specified otherwise, includes a conversion fee applied and retained on a base exchange rate to form the rate applicable to your conversion. The base exchange rate is based on rates on the Binance Platform on the conversion time.
In case of any concerns or problems related to the crypto-fiat exchange functionality, you can refer to relevant descriptions, announcements, and FAQs published in the Platform or contact us at firstname.lastname@example.org.
4.4.1 When you make a purchase from a merchant or service provider online or at the merchant’s or service provider’s location using Binance Pay and the transaction is ultimately refunded, the payment will be refunded to your Binance Pay Wallet balance in the same type of cryptocurrency the merchant or service provider charged you for the purchase as long as such type of cryptocurrency is accepted by us.
4.4.2 This Section 4.4 on refunds shall apply in respect of all Binance Pay Services, unless the issue of refunds in respect of any particular Binance Pay Service is separately stated in these Terms or any other terms agreed between you and us, or specified otherwise by us. In such an event, that separate provision shall apply, but only in relation to that particular Binance Pay Service only and no other.
4.5 Payment Review
4.5.1 When Binance Pay identifies a potentially high-risk transaction, we review the transaction more closely before allowing it to proceed. When this happens, Binance Pay will place a hold on the transaction and notify the merchant to delay shipping of the item or the service provider to delay provision of their services to you, or hold the instruction as submitted under Send Cash service (as the case may be). As a buyer (where applicable), this may delay your receipt of the item or service you purchased. If we clear the transaction, we will notify the merchant and direct them to ship the item or the service provider to provide the service (as the case may be). If we don’t clear the transaction, we will cancel it and return the funds to you, unless we are legally required to take other action. As a user of Send Cash service (where applicable), this may mean a delay or cancellation of your instructions submitted to us via Binance Pay Platform.
4.6 Negative Balance
4.6.1 If there are any negative balance in the Binance Pay Wallet due to settlements to merchants or service providers being higher than the available balance in the Binance Pay Wallet (or otherwise), we reserve the right to (i) reject the payment; (ii) deduct the negative amount from any associated accounts under your Binance Account, and/or (iii) take other necessary measures at our sole discretion to satisfy the negative balance and compensate for our losses (if any);
4.6.2 You agree that if any negative balance in the Binance Pay Wallet is uncollectible from any of your associated accounts under Binance Account or other those provided by other service providers, (i) your Binance Pay Wallet, your use of all functions provided in the Binance Pay and/or other services provided by Binance Operators may be suspended until the negative balance is satisfied and your Binance Pay Wallet is brought into good standing, and (ii) we reserve the right to relief our losses in all reasonable manners to the maximum extent permitted by law.
5.1 In consideration of the use of the Services we provide you through Binance Pay Platform, certain fees may apply. In the event that such fees are applicable, then unless specified otherwise by us, you agree to pay us the fees for completed trades in accordance with our fee schedule in the Binance Pay FAQ (if any) at https://www.binance.com/en/support/faq/d6fabc736d1f4e7fb60e56afe6d1f3b9 ("Fee Schedule"), which we may revise or update at our sole discretion from time to time. Changes to the Fee Schedule are effective as of the date set forth in any revision and will apply prospectively from that date forward.
5.2 You authorize us to deduct any applicable fees from your Binance Pay Wallet at the time set forth in the Fee Schedule, and in the event of insufficient funds in your Binance Pay Wallet, we are entitled to collect funds from other wallets under your Binance Account.
5.3 Unless otherwise provided by us, the fees set forth in the Fee Schedule do not cover any additional fees to be charged by the third-party service providers or governmental authorities, including but not limited to network charges (Visa network for example), taxes and foreign exchange costs, which may be declared by such third-party service providers or governmental authorities via separate legal documents and may be different when applied for different Clients and different regions. You further authorize us to deduct any of the foregoing third-party or compulsory charges from your Binance Pay Wallet (and other wallets under your Binance Account, provided there is a negative balance in your Binance Pay Wallet) at the proper time at our sole discretion.
5.4 This Section 5 on fees shall apply to all Binance Pay Services, unless the issue of fee payable in respect of any particular Binance Pay Services is separately stated in these Terms or any other terms agreed between you and us, or specified otherwise by us. In such an event, that separate provision shall apply, but only in relation to that particular Binance Pay Service only and no other.
6.1 You may only use the Platform in bona fide and accordance with the functionalities of the Platform. You agree to use the Platform only as permitted by:
6.1.1 the Terms, Binance Terms and any other terms as may be agreed between you and us (collectively "Agreed Terms");
6.1.2 characteristics, settings and limits of the Platform, including the setting of limits and options by you as allowed by the Platform, as published and updated by us from time to time on the Platform;
6.1.3 any applicable rules and policies stipulated by other service providers to the Platform; and
6.1.4 any applicable law, regulation, or generally accepted practices or guidelines in the relevant jurisdictions.
6.2 It is strictly forbidden to use the Platform in violation of the Terms and/or the Binance Terms and/or any other Agreed Terms, or for any illegal purposes. In particular, you shall under no circumstances use the Platform for activities which involve or may involve any of the following:
6.2.1 breach of the Terms (including, without limitation, providing false identifying data, such as false names, email address, multiple mobile numbers or other data, with attempting or resulting in the opening of multiple Client Profiles or Binance Pay Wallets for a single user or avoiding any restrictions imposed by us in another way);
6.2.2 breach or risk of breach by you of any law, statute, contract, or regulation applicable (including without limitation, IP laws, or those governing payment and financial services including anti-money laundering or terrorist financing, or similar regulatory requirements, including where we cannot verify the identity or other data about you according to our internal regulatory requirements of, consumer protections, unfair competition, anti-discrimination, gambling, false advertising, illegal sale or purchase or exchange of any goods or services according to all applicable laws);
6.2.3 abuse of any service in the Platform on your side;
6.2.4 use of the Platform in a manner that results in or may result in complaints, disputes, claims, fees, fines, penalties and other liability to us or any of our branches or agents, affiliates and other similar;
6.2.5 intercepting or monitoring, damaging or modifying any communication that is not intended for you or use any type of spider, virus, worm, trojan-horse or any other codes or instructions that are designed to distort, delete, damage, emulate or disassemble the Platform;
6.2.6 use of any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy for which you do not have license or permission from the owner of such rights;
6.2.7 use the Platform in connection with any other underlying illegal operation such as but not limited to collection or harvesting any personally identifiable information;
6.2.8 engaging in any activity that interferes with or disrupts the Platform (or the servers and networks which are connected to the Platform, or impacting or attempting to impact the availability of the Platform, with a denial of service (DOS) or distributed denial of service (DDoS) attack;
6.2.9 reproducing, duplicating, copying, selling, trading or reselling the Platform for any purpose; or
6.2.10 use of the Platform for any sale or purchase of goods and/or services, which are not acceptable to us as published in Binance.com or Binance mobile app or as instructed in writing by us.
6.3 You shall not use the Platform and shall not accept the Terms, and we are entitled but not obliged to temporarily stop or terminate the Platform and/or any of the Terms immediately and without prior notice to you, and/or suspend or restrict your access to the Binance Pay Platform of any or all of its functionalities (for any such duration as we deem fit in our sole and absolute discretion) immediately and without prior notice to you if:
6.3.1 you are not of legal age to form a binding contract with us and operate the payment instrument or funding instrument for use with the Platform; or
6.3.2 you are (or subsequently become) a person barred from receiving the Platform services under any applicable laws or regulations, the requirements of any service provider or merchant, the Binance Terms, or any other Agreed or our rules or policies;
6.3.3 you have not been duly identified or verified by us, upon our single discretion; or
6.3.4 for any other important reasons, upon our discretion, such as but not limited to risk, legal and regulatory compliance.
6.4 We shall be entitled to notify you at any time for the termination of your use of the Platform via email or on the Platform, in case you have become a non-acceptable client for us. The decision for the refusal is strictly in our discretion, and we shall not be liable for whatsoever compensations.
6.5 Non-satisfaction of these Terms or any other Agreed Terms may result in:
6.5.1 immediate suspension or restriction of any or all functionality or service provided in the Platform set forth herein, if applicable, for any such duration as we deem fit in our sole and absolute discretion;
6.5.2 the right of us or the respective service provider to withhold funds in your Binance Pay Wallet and/or any other wallets in your Binance Account for the satisfaction of damages incurred by the respective service providers or us, because of your breach,
6.5.3 claim by us against you via initiation of procedures before competent regulatory bodies or card organizations, and/or
6.5.4 termination of the Terms without prior notice to you.
8.1 The Terms will continue to apply until terminated by either party hereof, as set out below unless otherwise stipulated in applicable laws.
8.2 You may stop using the functionalities of the Platform and terminate the Terms subject to the following conditions and provisions.
8.2.1 If you wish to terminate the Terms with us, you may do so immediately and without charge for termination at any time by notifying us in accordance with Section 13 below.
8.2.2 In case of any risk of damages for us, resulting from claims, fees, fines, penalties, your non-compliance with regulations, contractual obligations or other similar liabilities arising from your use of the Platform, you hereby agree that we may withhold your Cryptocurrencies in your Binance Pay Wallet and any other wallets in your Binance Account (when there is a negative balance in your Binance Pay Wallet, the same below), or instruct the entities, which providing services to your Binance Pay Wallet and any other wallets in your Binance Account to withhold your funds therein, for a period allowed by law even after termination of the Terms. You shall remain liable for all obligations arising under the Terms even after termination of the Terms and/or close of your Binance Pay Wallet.
8.3 You acknowledge and agree that we may stop providing service to you in the situations and ways as set forth herein.
8.3.1 We may, at any time, terminate the Terms with you without notice if:a. you have breached any material provision of the Terms or any other Agreed Terms or law (or have acted in a manner which clearly shows that you do not intend to or you are unable to comply with the material provisions of the Terms or Agreed Terms); orb. we are required to do so by applicable law or regulations (including, without limitation, where the provision of the Platform to you becomes non-compliant with the regulations).
8.3.2 Unless a shorter period is provided in the Terms, as permitted by law, we may, at any time, terminate the Terms by giving you written notice.
8.4 When the Terms terminate, all of the legal rights exercised, and all the obligations and liabilities assumed by either party hereof in accordance with the Terms, or which have accrued over the period while the Terms have been in force, or which are expressed to continue indefinitely, shall be unaffected by the termination. You agree that Section 8, 10 and 13, as well as any other terms which by their nature should survive, shall survive the termination of these Terms.
8.5 Subject to Section 8.4 above and applicable laws and unless otherwise provided herein, where the Terms are terminated by either party hereof, you will be entitled to a refund of any available balance in your Binance Pay Wallet in accordance with these Terms.
9.1 We make no express warranties or representations with respect to the provision of the Platform. In particular, we do not warrant to you that:
9.1.1 your use of the Platform and any service provided therein will meet your requirements or expectations;
9.1.2 your use of the Platform and any service provided therein will be uninterrupted, timely, secure or free from error; and
9.1.3 any information obtained by you as a result of registration or use of the Platform and any service provided therein will be accurate or reliable.
9.2 No conditions, warranties or other terms (including any implied terms as to the satisfactory quality, fitness for purpose or conformance with description) apply to the Platform, except to the extent that they are expressly set out in the Terms.
9.3 Subject to other provisions hereof, nothing in the Terms will affect those mandatory or statutory rights to which you are entitled as a consumer and that you cannot contractually agree to alter or waive. The rights and protections afforded to us under this Clause 9 is in addition to any other rights and protections afforded to us under other clauses in these Terms and the Binance Terms and any other terms agreed between you and us.
10.1 To the greatest extent permitted by law, we will not be liable to you for:
10.1.1 any indirect or consequential losses which may be incurred by you, including without limitation, any loss of profit (whether incurred directly or indirectly), any loss of goodwill or business reputation, or any loss of data suffered by you;
10.1.2 unless caused by our intent or gross negligence, any loss or damage which may be incurred by you as a result of:a. any reliance placed by you on the completeness, accuracy or existence of any advertising, or as a result of any relationship or transaction between you and any third party (including without limitation any service providers) on or through the Platform;b. any change which we may make to the Platform or any permanent or temporary cessation in the provision of the Platform (or any features within the Platform);c. use of any service provided by us in the Platform;d. malfunction of the Platform;e. your failure to provide us with accurate information; andf. any fraudulent use of the Platform or attempt for fraudulent use by you or third parties related to you.
10.2 We do not assume any responsibility for the information provided by you or other persons to any third parties upon which we cannot influence or control in any way. You acknowledge and agree that we are not liable for any damages or claims resulting from your use or visit on third parties’ websites.
10.3 You agree that you are fully responsible for (and that we have no liability to you or any third party for) any breach of your obligations under the Terms and for the consequences (including any loss or damage which we may suffer) of any such breach.
10.4 The mobile application for Binance Pay for smart devices is available for downloading only for certain smart devices as described in the Terms and we are not liable for lack of availability of the service on mobile or smart devices, or inability to download or use the services via a particular smart device, or lack of the service or part of the service, because of lack of Internet, mobile operator services (such as SMS or other) or hardware specifics or problems.
11.1 You agree to indemnify and hold us, our affiliates, and service providers, and each of our or their officers, directors, agents, joint venturers, employees, and representatives harmless from any claim or demand (including attorneys’ fees and any losses, fines, fees, or penalties imposed by any regulatory authority, or damages claimed against us by other third parties such as PSP in the provision of Send Cash services) arising out of your breach of these Terms, or your violation of any law or regulation.
11.2 For the purpose of this Section 11, the term "losses" means all net costs reasonably incurred by us or the other persons referred to in this Section 11 which are the result of the matters set out in this Section 11 and which may relate to any claims, demands, causes of action, debt, cost, expense or other liability, including reasonable legal fees (without duplication).
11.3 "Indemnify" means to compensate someone for the harm or loss they may suffer. If you breach these Terms or violate the law and it results in us facing claims or expenses, you agree to cover those losses.
11.4 If you have a dispute with one or more users or third parties, you release us (and our affiliates and service providers, and each of our and their officers, directors, agents, joint ventures, employees, and representatives) from any and all claims, demands, and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. If you have a dispute with anyone other than us, you release us from liability associated with that dispute.
12.1 You agree that we may amend or revise the Terms from time to time by publishing them on the Platform. It is your responsibility to frequently check for updates to these Terms, if any.
12.2 You understand and agree that you will be deemed to have accepted the amendments and revision unless you terminate the Terms as set forth in Section 8.2.
12.3 Nothing in this Section 12 will limit our right to update and revise the Terms and our policies from time to time or to add new features to the Platform from time to time without prior notice, which may be accepted by you by using the new feature. Such revisions may take place using a method chosen at our discretion, and such a method may also include email communication or publication on the Platform.
12.4 We may introduce innovations, improvements, developments, new functionalities to be provided by us or other service providers to the Platform, or amend the names, logo or features of Platform unilaterally and without your consent, for which we shall inform you via email, or the Platform.
13.1 All information will be made available or provided to you in an easily accessible manner, in English and other languages supported by us.
13.2 You agree that we may send notices and other communications to you via the Platform, email or other reasonable means to any matter relating to your use of the Platform, including the Terms (and revisions or amendments to the Terms), notices or disclosures regarding the Platform.
13.3 You agree that all communications in connection with your using the Platform shall only be sent to us via the designated email address (email@example.com).
13.4 In the following urgent cases, you have to notify us immediately without delay:
13.4.1 notification of loss, theft, unauthorized use or security breach;
13.4.2 notification of your disagreement with the amendment or revision of the Terms and wish to terminate the Terms.
14.1 Force Majeure. We shall not be liable for any failure or delay in the performance of our obligations under these Terms or any unavailability thereof that is due, in whole or in part, directly or indirectly to any Force Majeure events, which is beyond our reasonable control.
14.2 You and we agree to resolve any claims relating to this Agreement (including any question regarding its existence, validity, termination, or any services or products provided and any representations made by us) through final and binding arbitration. You agree first to allow us to resolve any claims by contacting us via our Customer Support team at https://www.binance.com/en/support/requests/new.
If we are not able to resolve your claims timely, you may seek relief through arbitration pursuant to the Binance Terms.
14.3 Risk Warning. You also acknowledge the following risk: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Please fund your wallet and perform your transactions cautiously. Not financial advice. For more information, see also our other risk warnings here: https://www.binance.com/en/risk-warning.