TERMS AND CONDITIONS OF USE OF “PAYZY” APPLICATION – Payzy DE (eng)

Last update of terms: 15.05.2026

The update concerns modification of the registration process for using the Application.

1. INTRODUCTION

The Company under the name “COSMOTE PAYMENTS – ELECTRONIC MONEY SERVICES SINGLE-MEMBER S.A.” (hereinafter “COSMOTE PAYMENTS” or “Company”) with TIN: 800995166/ Attica Tax Procedure and Service Center (KEFODE Attikis), which has its registered office in 151 24 Maroussi, Attica, 99 Kifissias Avenue, with GCR number 146551801000, is a duly authorized Electronic Money Institution (“EMI”) by the Bank of Greece (“BoG”), pursuant to the provisions of Law 4021/2011 (legislation for the supervision and regulation of financial issues into the Greek legal order), of the Directive 2015/2366/EU for payment services in the internal market, as transposed into the Greek legal order with the Law 4537/2018, and of the specific Executive Committee Act 164/2/13.12.2019 of BoG, as in force, with BoG EMI registration number 3, for the provision of electronic money services and payment services.

COSMOTE PAYMENTS has created and manages the “payzy” application (hereinafter “Application”) for its customers. Precondition for the use of the Application is the full and unreserved acceptance of these terms by the customers of COSMOTE PAYMENTS. For a customer to be able to use the Services of the Application, the completion of their authentication-verification process is required, in accordance with those set out in the Framework Service Agreement – Terms of Use of E-Wallet of COSMOTE PAYMENTS (hereinafter “Framework Agreement”), the definitions of which, in order to avoid repetition, also apply to the present terms, as long as it is not defined otherwise in them. Customers who have successfully completed their authentication and verification process will be referred to hereinafter as “Authenticated Users”, while customers who have not successfully completed their authentication-verification process will be referred to hereinafter as “Users”. For the receipt of payment, electronic money, information transaction services and of any other payment, electronic money or informational transaction services performed in the future, the terms and conditions of the Framework Agreement shall apply, the terms of which are accepted by the Authenticated User and which constitute a single and undivided total with the terms of the Application and can be found on the Application and the website of the Company. Through the application, the Users can enjoy registration services, and Authenticated Users’ services of activation and creation of Payment Account (IBAN), access to their Payment Account online, order and activation of payment cards, execution of collection and payment acts, issue of electronic money by commencing transactions of cash-in and cash-out of their account, informational transactions and any other payment, electronic money or informational transaction services performed by the Company in the future can be carried out and provided through the Application (hereinafter “Services”).

The Application is exclusively addressed to adults and its use by minors is not permitted. In case minors use the Application, COSMOTE PAYMENTS shall bear no liability, given that the protection of minors is foremost obligation of the Authenticated User, who has the parental responsibility of the minor and who is exclusively liable towards any third party.

Users and Authenticated Users can be informed on the Company, the Services and the Terms of Use thereof on the websites payzy.de and cosmotepayments.gr (hereinafter “Website” or “Websites”).

2. CONDITIONS OF USE OF THE APPLICATION

A User must complete their authentication-verification process within thirty (30) calendar days from the commencement of this process. In case such period elapses without the completion authentication and verification process of the User, then the Company will delete from its systems all details and data that have been registered / submitted by the User. If the User wishes to get access again to the Application and the Services provided through it, they must start anew the authentication-verification process.

The Authenticated User recognises and accepts that their access to the Application and the Services in any way shall identify them, fully and undoubtedly determine their identity and have the same results as those resulting from their handwritten or qualified electronic signature, and that it shall prove that any act thereof within the use of the Application and/or the Services comes from them and is considered approved by them, however evidence to the contrary shall be permitted.

These Terms of Use shall in no case substitute the obligations of the User arising from the terms and conditions for the provision of any other services (hereinafter “Other Services”) of COSMOTE PAYMENTS provided to them. For the use of Other Services of the Application which have special terms and conditions, the acceptance of the individual special terms shall be required. In case of conflict between the special terms of Other Services and these terms, the special terms of any Other Service shall prevail. COSMOTE PAYMENTS shall be entitled to amend at any time, without notice, these Terms of Use, however it undertakes the obligation to update this text regarding any amendment or addition and inform the users through announcement on the Website and the Application or by any other appropriate means. Users must be informed on changes of these terms and, if they continue to use the application, it shall be assumed that they have accepted the amendments.

The Application is a software product of COSMOTE PAYMENTS, which is continuously evolving and subject to improvements/changes due to technological development. COSMOTE PAYMENTS shall be entitled to modify, at its discretion, the technical parameters, as well as the content of the Application automatically as a whole, as well as the individual procedures, without prior notification of the User, but with an update of these terms regarding any amendment or addition and an announcement on the Website and the Application. More specifically, COSMOTE PAYMENTS shall be entitled to amend, at its absolute discretion, the procedures, and the technical parameters of the Users’ access to the Application.

3. INSTALLATION OF THE APPLICATION & REGISTRATION

The Application will be available free of charge by COSMOTE PAYMENTS. For the download and use of the Application, the User will be charged for the use of data according to the currently valid price list of their provider. The use of the Application will be possible while using Roaming with the corresponding roaming charges.

The Application will be installed on a mobile telecommunication or electronic device, smartphone or tablet (hereinafter “Device”), of the User’s choice. The application is compatible with operating systems Andrοid (minimum version 8.0) and iOS (minimum version 15.0). Precondition for the use of the application will be the activation of security settings of the Device on which it is installed. The Company shall not bear any liability for the selection of the Device by the User. For the installation of the Application on the Device, the User shall follow the instructions provided through the Application. The Application may be installed on one or more Devices. The User may uninstall the Application at any time from their Device or Devices. The uninstallation of the Application does not imply the closure or other change of the Payment Account held by COSMOTE PAYMENTS, however it cannot be used (unless the User reinstalls the Application) and the User will not be able to receive any other services provided through the Application. The User will be able to make payments as long as they have added their virtual COSMOTE PAYMENTS VISA debit card in third-party wallets (e.g. Apple Pay, Google Pay), according to the terms of its provision.

For registration in the Application, the User shall create an account with their e-mail and mobile phone number which they will register in the registration form. For the successful registration of e-mail, the confirmation through an e-mail containing a 4-digit email confirmation code, with a limited duration of five minutes, is required. For the successful registration of the mobile phone number, the confirmation through a “one-time password – ΟΤΡ” is required, with a duration of five minutes at maximum, which shall be sent to the mobile phone number that has been registered by the User in the registration form. The User shall choose as Username either their mobile phone number or their e-mail address. Registration in the Application shall be completed by the creation by the User of a personal access code (“Password”).

Furthermore, access to and use of the Application requires the User to provide additional data (a) by responding to a special questionnaire and (b) by completing any mandatory upload fields within the Application. Finally, a video call is conducted with a specialised representative of COSMOTE Payments. Alternatively, the Application offers the possibility of a remote electronic identification procedure through the recording of the User’s dynamic selfie using special software and without the presence of a COSMOTE Payments’ representative (if the identification document has a machine readable zone - MRZ) such as e.g., a passport or new type of identity card. Completion of the registration according to the latter alternative method entails an annual credit limit of up to 15,000 euros, which may at any time be removed at the initiative of the User, upon conducting a video call.

4. ACCESS TO THE APPLICATION

The User may acquire access to the Application by one of the following means:

Ι. Combination of Username and Password: Username in combination with the Password shall allow the User to login with safety to the Application. The User may change the Username and/or Password at any time, following the instructions of the Application. Specifically, the change of Username can be made in the section Account details -> Change of phone number / Change of e-mail, and the change of Password can be made in the section Security settings -> Change of password.

ΙΙ. Use of fingerprint (Touch ID) or face recognition (Face ID): For the use of fingerprint (Touch ID) or face recognition (Face ID), the Device must have a fingerprint recognition sensor or equipment for recognition of the unique three-dimensional characteristics of the face, must support technically this functionality and must have been activated by the User. For the use of fingerprint (Touch ID) or face recognition (Face ID), the User must have excellent knowledge of handling the required devices, means or programs, including the use of the functionality of Touch ID or Face ID. COSMOTE PAYMENTS shall not record, reproduce, or store in any way the fingerprint (Touch ID) or face recognition (Face ID) of the User. The individual characteristics of Touch ID or Face ID of the User shall be stored exclusively on the User’s Device, on which they have installed the Application.

The User shall be obliged to use only their own fingerprint as Touch ID or own face as Face ID and will be exclusively responsible that no means of authentication and login of a third party are stored on the Application and on their Device.

In the future COSMOTE PAYMENTS may add additional methods for secure access to the Application, with relevant information of the User on the Application and/or on the Websites.

5. SERVICES PROVIDED THROUGH THE APPLICATION

The Authenticated Users of the Application will have access to their Payment Account through the “Wallet” Service, where they can:

have access to the electronic money balance of their Payment Account, as well as to its information (ΙΒΑΝ, beneficiary, etc.). The maximum permitted electronic money balance which may exist in the Payment Account shall be determined on the Application.
have access to the entirety of transactions (and to the details thereof) which have been conducted from their Payment Account in chronological order and have the ability either to filter the results based on specific criteria or to search a specific transaction.
issue copies of all transactions conducted through their Payment Account or with the connected Card(s) (e-proofs, either per transaction or in total per quarter).
start cash-in and cash-out transactions of their Payment Account by the means determined in the Framework Agreement according to the Transaction Limits permitted per case on which the User shall be informed within the Application.

In addition to the Services, the following special terms and conditions for the Other Services shall apply:

I. “Bring Friends” Service

Through the “Bring Friends” service, any Authenticated User may recommend COSMOTE Payments to third natural persons, such as, indicatively, friends, family members, partners thereof, etc., which are not yet COSMOTE Payments customers (hereinafter “Friend” and jointly “Friends”), if they consider that these persons may be interested in the creation of an electronic money account based on the terms of provision thereof and provided that the terms and conditions set out herein are met and on which the User shall be informed through the Application and/or the Website of the Company. The recommendation is carried out through the sending of a relevant invitation by the Application, in accordance with those set out in detail below.

“Process”

In order for the interested Authenticated Users to use the service, they shall be required to login to the Application and the relevant “Bring Friends” section and send to Friends a link to their digital contact media, such as, indicatively, to e-mail or to message exchange digital services, that their Friends receive on their mobile phone.

The Authenticated User, by sending the invitation declares that:

— the contact details, such as the declared mobile phone number or e-mail of the invited Friend is correct and corresponds to the specific Friend.

— has received the consent of the Friend to whom the mobile phone number and/or e-mail belongs for its transfer to the Company through its filling in within the Application and accepts the indication of their full name in the invitation sent to them in any way, otherwise the Authenticated User shall be liable towards COSMOTE Payments and any third party for any damage thereof due to this reason.

If a Friend proceeds, following the recommendation, to Registration and creation of an electronic money account with COSMOTE Payments, the recommendation shall be deemed as successful (hereinafter “Successful Recommendation”). For a Recommendation to be identified as “Successful Recommendation”, a Friend should:

a. meet the conditions to become, for the first time, customer of COSMOTE Payments in accordance with the current Terms.

b. enter their details as required and complete the registration and authentication process in order to create an electronic money account at COSMOTE Payments through the Application.

c. Accept these terms, the entirety of which shall bind them as regards to their observation.

The Successful Recommendation of Friends is not accompanied by a monetary or other reward, except during the periods when a relevant promotional activity is carried out, in accordance with the below mentioned terms and the specific terms of each activity.

“Promotional activities”

As part of the "Bring Friends" service, the Company may from time to time organize promotional activities of a certain duration, through which the Authenticated Users shall receive some kind of reward, monetary or otherwise, for each Successful Recommendation (hereinafter "Promotion/s"). The specific terms of each Promotion (e.g. right and method of participation, duration, type and reward process, etc.), when it is carried out, will be defined by COSMOTE Payments in writing and shall be posted on the Website, the Application and/or any other suitable means at its discretion. The specific terms of each Promotion specialize the present terms, forming a single and inseparable whole with them and bind, without any further action required, the Identified Users who participate in it.

II. “Coins” LOYALTY PROGRAM

The “Coins” Loyalty Program (hereinafter the “Program”) is a reward program through which Authenticated Users collect points which can be redeemed in accordance with these terms, as applicable from time to time, or any other terms set out by the Company. Participation in the Program means that the participating Authenticated User has taken notice of the following terms and fully and unreservedly has agreed to them and has accepted that these shall exclusively regulate their rights and any obligations, in relation to the Program.

“Right to Participate”

Any natural person who is a lawful and permanent resident in Germany, has legal capacity, has reached the 18th year of their age, and holds an electronic money account at COSMOTE PAYMENTS through the Application shall have the right to participate in the Program (hereinafter “Participant”).

“Registration of Participant”

The registration in the Program shall be made by the registration of the Participant in the Application and the completion of their authentication process by COSMOTE PAYMENTS.

“Deletion of Participant”

The Participant shall be deleted from the Program if they have deleted the electronic money account they have in the Application.

The Company shall be entitled to delete or exclude the Participant from the Program in case of non-compliance thereof with the Terms of the Program or in case they want to and/or cause damage to the Company according to those mentioned in the chapter 9 “Behaviour of Users” of the Terms of the Application.

In case of the Participant’s deletion for any reason, the Coins that have been collected and have not been redeemed shall be deleted.

“Collection of Coins”

Each Participant of the Program shall collect Coins from their registration in the Program onwards, by each transaction with the virtual COSMOTE PAYMENTS card which has been settled, or any other activity (hereinafter “Transaction”) of the Participant, as described in the "Earn Coins" table and in the "Rules" section posted in the Application, in the Loyalty Program "Coins" section and on the Website, in the Services/Loyalty Program "Coins" section and include the Transactions and the Coins corresponding to each one of them. The Participant shall collect Coins, on which they are informed in their Coins account.

The following Transactions do not generate Coins collection: cash withdrawals of any kind, charging a debit, credit or prepaid card of COSMOTE PAYMENTS or other institutions (banks, payment institutions, electronic money institutions, etc.), making a payment to a Payment Account held at COSMOTE PAYMENTS or to another institution, payment of the balance or part of the balance of another institution's card, money transfers (incoming and outgoing funds), repayment of loan instalments, transactions for the purchase of cryptocurrencies, gambling or betting transactions, transactions with the state (e.g. municipalities, chambers associations, legal entities governed by public/private law, payment of state debts) as well as any type of transaction disputed by the cardholder.

COSMOTE PAYMENTS may modify or exclude types of transactions from the Program, according to what is mentioned in the article “Amendment / End of Program”.

The number of Coins corresponding to each Transaction is updated by COSMOTE PAYMENTS on the Company's Website as well as in the Application according to the ones mentioned in the article "Modification / Expiration of the Program".

COSMOTE PAYMENTS shall keep only one Coins account per Participant for monitoring the points collected and/or redeemed by them.

The Coins collected by the Participant can be redeemed at any time.

In case that, by mistake, Coins have been calculated in favour or to the detriment of any Participant, COSMOTE PAYMENTS shall be entitled to proceed to the required correction in their Coins account without prior notice thereof.

The Coins collected by each Participant may not be transferred or assigned to any third party.

In case the amount of the transaction is decimal, then the attribution of Coins shall be rounded to the nearest integer (e.g. for a Transaction of 3.49 euros, 3 Coins shall be attributed, while for a Transaction with an amount of 4.50 euros, 5 Coins shall be attributed).

“Redemption of Coins”

The Coins of each Participant can be redeemed within the Application, in part or in full, in the form of electronic money in the Payment Account of the Participant held at COSMOTE PAYMENTS through the Application, based on the applicable exchange rate of Coins-money posted on the Application, in the Coins section, and on the Website, in the Services/Coins section, and with a minimum number of fifty (50) Coins required for redemption.

COSMOTE PAYMENTS may announce to the Participants additional special offers of collection or redemption of Coins, amend the minimum number of Coins required each time for partial or total redemption. The additional special offers shall concern either the entirety of Participants or part thereof or specific Transactions. Information shall be made according to article “Amendment / End of Program”.

Precondition for redemption of Coins shall be the Participant to hold an electronic money account at COSMOTE PAYMENTS at the time of redemption.

“Information of Participant on available Coins”

Every Participant shall be informed on the Coins they have collected and are available for redemption through the Application.

Every Participant shall be informed on the possibilities of redemption applicable from time to time through SMS or newsletters or e-mails or the Application or the Website.

COSMOTE PAYMENTS will be entitled to regularly inform the Participants on the Program, through SMS or newsletters or e-mails, at the contact details that the Participant has declared upon their registration or later.

“Amendment / End of Program”

COSMOTE PAYMENTS shall retain the right to amend at any time these Terms of the Program, including the "Earn Coins" table as well as the "Rules" section. The amendments to the Terms of the Program shall be notified to the Participants through the Application, the Website and by any appropriate means, at the discretion of COSMOTE PAYMENTS and shall enter into force immediately, unless otherwise determined. The conduct of included transactions or activities and/or the redemption of Coins after any amendment, shall constitute acceptance of the amended Terms of the Program by the Participant.

Also, any amendment shall bear date of entry into force and duration (if any).

COSMOTE PAYMENTS reserves the right to cancel the Program at any time, at its discretion, informing the Participants one (1) month prior to the date of termination, through the Website of the Company and/or the Application and/or by any appropriate means at its discretion. In this case, the Participants shall be able to redeem their available Coins until the date of termination of the Program.

COSMOTE PAYMENTS does not undertake any liability towards the Participants or third parties regarding any such amendment or cancellation of the Program, and Participation therein shall constitute waiver of any such claim, demand or right towards COSMOTE PAYMENTS.

“Other Terms”

In the framework of this Program, COSMOTE PAYMENTS shall proceed, as Controller, to the collection, storage, and processing of the personal data of the Participants, such as authentication and contact details thereof, which are necessary for the purpose of processing and only to the extent that the Participants themselves disclose them upon their registration during their participation in the Program. COSMOTE PAYMENTS shall take all necessary measures and shall ensure the fair and lawful collection and processing of personal data, as well as their safekeeping, in accordance with the provisions in the General Data Protection Regulation (EU) 2016/679 (GDPR), in Law 4624/2019 (legislation of the Greek legal order regarding measures for the implementation of GDPR) and its more specific regulatory implementing framework, ensuring the privacy and confidentiality of any information coming to its knowledge.

COSMOTE PAYMENTS may use the personal details of the Participants to send information material to them regarding the possibilities provided by the Program and/or issues related to it.

COSMOTE PAYMENTS shall ensure the personal character of personal data of the Program members and shall not transfer them to any third party (legal or natural person), except only where this is provided for by the terms of operation of the Program or by law. In the framework of the Program, such data may also be transferred to companies cooperating with COSMOTE PAYMENTS, to the extent that this is necessary within the Program for purposes connected exclusively with the support, execution and operation of the Program.

COSMOTE PAYMENTS shall process the personal data of the Participants throughout the duration of their registration in the Program and after the termination thereof in any way for as long as it is set out by the applicable legal and regulatory framework from time to time.

III. “Chat & Pay” MESSAGE EXCHANGE SERVICE

“Chat & Pay” Message Exchange Service (hereinafter “Chat & Pay”) is a communication channel of the users and is addressed to Authenticated Users.

Every Authenticated User shall be exclusively responsible for the content they post, publish, send, transfer, or otherwise make available through Chat & Pay and must comply with the rules and provisions of the applicable legislation and abstain from any illegal and abusive use of the services of the Application. In addition, they must behave decently, politely and discretely during the use of the Application.

Furthermore, through Chat & Pay, the transfer of electronic money from the Payment Account (E-Wallet) of an Authenticated User of the Application (debit) to the Payment Account (E-Wallet) of another Authenticated User of the Application (credit) shall be possible.

“Sending of electronic money”

Every Authenticated User (“Sender”) shall have the ability through the Chat & Pay service to determine a specific electronic money amount for transfer from their Payment Account (E-Wallet) to the Payment Account (E-Wallet) of another Authenticated User (“Recipient”). The Sender shall confirm such payment order through Strong Customer Authentication (SCA), which shall be achieved using fingerprint (Touch ID) or face recognition (Face ID) or the use of security settings of the Device of the Authenticated User from time to time. After successful confirmation, the amount shall be credited to the Payment Account (E-Wallet) of the recipient.

“Receipt of electronic money”

The Sender may request to be credited an amount in their Payment Account (E-Wallet) by the Recipient. The Recipient may accept or reject the request. If the Recipient rejects the request, the Sender shall be informed through Chat & Pay. If the Recipient accepts, and after they confirm the execution of the payment order through Strong Customer Authentication according to the above, the amount shall be debited to the Payment Account (E-Wallet) of the Recipient and shall be credited to the Payment Account (E-Wallet) of the Sender.

IV. “Split it” EXPENSES SHARING SERVICE

The “Split it” Expenses Sharing Service (hereinafter “Split it”) is a service that has been designed to help Authenticated Users to monitor and split their expenses and bills with other Authenticated Users, allowing them to enter notes regarding who owes to whom and why. “Split it” allows Authenticated Users who belong in a group to publish charges and payments. The Authenticated User shall be exclusively responsible for the notes and the Company shall bear no liability for the relationships among the members of each group.

An Authenticated User shall be able to share one or more expenses among other Authenticated Users. The result of sharing shall be the transfer of money from the Payment Account (E-Wallet) of an Authenticated User to the Payment Account (E-Wallet) of another Authenticated User.

An Authenticated User can create a group with other Authenticated Users with whom they can share expenses (e.g. payments) by adding them to the Group through the Application. Among the members of each group, expenses can be shared either

equally: the amount shared among the members of the group is the total of the expenses divided by their number, or
by exact amount: the amount shared among the members of the group shall be determined exactly for each member by the user who added the expenses.

All transactions arising from the “Split it” service shall be visible to the members of each group on the transaction list within the Application. Settlement of transactions may be conducted either within the Application (e.g. by transfer of money to the Payment Account (E-Wallet) of an Authenticated User to the Payment Account (E-Wallet) of another Authenticated User) or outside the Application (e.g. cash) and the creator of the expenses must update their entries in “Split it”.

The creator of the “Split it” group may edit and/or delete the group and/or any member at their discretion. COSMOTE PAYMENTS shall bear no liability for the transactions between the Authenticated Users and shall not participate in them. COSMOTE PAYMENTS does not guarantee and confirm the correctness and validity of the expenses added by the Users.

V. “Piggys” PERSONAL SAFE SERVICE

The personal safe “Piggy” (hereinafter referred to as “Piggy Safe”) constitutes an additional Payment Account created and controlled by the Authenticated User with the purpose of saving money. The Authenticated User of the Application that created the Piggy Safe (hereinafter referred to as “Piggy Safe Holder”) can automatically see all transactions of the Piggy Safe, close or amend a Piggy Safe, as well as add or remove funds.

“Definitions”

Payment Account of Piggy Safe: The account held in the name of the User of payment services as determined in the Framework Agreement, through the Application and used by them for the execution of payment acts for cash-in or redemption of electronic money in the Piggy Safe.
Piggy Safe Holder: The Authenticated User of the Application who has accepted these Terms in general and specifically for the use of Piggy Safes.
Objective of Piggy Safe: It is determined as the desired amount of money for collection and/or the time limit for the collection of amounts of money. The maximum time limit is set at one (1) year.

“Creation of Piggy Safe”

Any Authenticated User of the Application can create, if they wish, one or more Piggy Safes, with a maximum limit of five (5) Piggy Safes, within the Application.

As Holder of the respective Piggy Safe, the Authenticated User of the Application shall be entitled, whenever they wish, to request the deletion of the Piggy Safe. The corresponding Payment Account of the Piggy Safe created for this purpose shall also be automatically deleted.

The request shall be executed immediately and if the Holder has a remaining amount of electronic money in the Piggy Safe, they shall be invited to redeem it in their basic Payment Account (E-Wallet) at no cost.

“Cash-in of Piggy Safe”

The Piggy Safe Holder can store electronic money in the Payment Account of the Piggy Safe in the following ways:

by rounding upwards to the nearest integer amount of the balance that results from any transaction with a payment debit card issued by COSMOTE PAYMENTS. The Holder may determine a multiplier of this amount that will be saved either by two or by four.
by repeated transfer of electronic money from the basic Payment Account (E-Wallet) to the Payment Account of the Holder’s Piggy Safe, weekly or monthly.
by one-off transfer of electronic money from the basic Payment Account (E-Wallet) to the Payment Account of the Holder’s Piggy Safe.

For the above transactions, no Strong Customer Authentication (SCA) shall be required by the Authenticated User of the Application.

“Cash-out of Piggy Safe”

The Piggy Safe Holder may redeem the electronic money from the Payment Account of Piggy Safe exclusively to their basic Payment Account (E-Wallet). For this transaction, no Strong Customer Authentication (SCA) shall be required.

“Limits and charges”

The maximum amount that the Holder can collect in a Piggy Safe for one (1) month and/or on an annual basis shall be set out by absolute proportion to the maximum permitted number of transactions set out by COSMOTE PAYMENTS for individual transactions or activities of the Authenticated User of the Application. If the Holder has more than one Piggy Safe, then the sum of the amounts collected in the entirety of safes and in their basic Payment Account (E-Wallet) must not exceed the maximum permitted amount set out by COSMOTE PAYMENTS for individual transactions or activities of the Authenticated User of the Application.

The redemption of the collected amount from the respective Piggy Safe shall be allowed without any charges by the Authenticated User of the Application, except if otherwise set out by COSMOTE PAYMENTS.

“Information”

Any Piggy Safe Holder can be informed on the amount of electronic money they have collected through the Application and on all information of Piggy Safe (objective and completion thereof, cash-in/cash-out transactions, etc.), as well as change their choices at any time (means of cash-in, objective, etc.).

COSMOTE PAYMENTS shall be entitled to regularly inform the Piggy Safe Holder, by SMS or newsletters or e-mails, at the contact details that the Participant has declared upon their registration or later.

“Interconnection with “Split it” service”

The Authenticated User shall have the ability to split one or more expenses to multiple Authenticated Users, as well as to enter multiple expenses into a group of users through the “Split it” service on the Application. These expenses may be split to the group members and the resulting payment requests can be completed by using the means of payment provided through the Application. In addition to the methods of payment thereof, expenses can be paid by using the amount of electronic money collected by the Holder in a Piggy Safe.

“Amendment to terms”

COSMOTE PAYMENTS shall retain the right to amend at any time these Terms of the “Piggys” Personal Safe service. Amendments to the Terms of the Service shall be notified to the Users of the Application through the Website of the Company and the Application and/or by any other appropriate means, at the discretion of COSMOTE PAYMENTS and shall enter into force immediately, unless otherwise determined. The conduct of any activity related to Piggy Safes after any amendment to the Terms, shall constitute acceptance of the amended Terms of the Service by the Holder.

The Piggy Safe Holders must consult the terms of the Service through the Application or the Website and visit them regularly in order to be informed of any amendments, as well of the last version in force of the Terms of the Service.

COSMOTE PAYMENTS reserves the right to cancel the Service at any time, at its discretion, informing the Piggy Safe Holder one (1) month prior to the date of termination, through the Website of the Company and/or the Application and/or by any appropriate means at its discretion. In this case, the collected amounts of the respective Piggy Safe shall be credited to the basic Payment Account (E-Wallet) of Authenticated Users upon expiry of the above time limit.

VI. “Cards” SERVICE FOR ISSUING AND USING CARDS

Through the Application, Authenticated Users can request the issue of a virtual COSMOTE PAYMENTS debit card, accepting the “Terms of the agreement for the provision and use of COSMOTE PAYMENTS VISA debit card”.

VII. “Coupon” SERVICE

COSMOTE PAYMENTS may, from time to time, issue codes in physical or digital form as part of promotions (hereinafter “Coupons”), that correspond to and are redeemable in Coins. The Coupons are sent or distributed to the Authenticated Users in any convenient way, at the discretion of COSMOTE PAYMENTS (e.g., electronic or physical mail), and are redeemed exclusively in the section Earn with payzy -> Coupons within the Application.

Coupons are valid for a specific duration and contain a certain amount of Coins, according to the terms of each promotion. The Coupon cannot be exchanged for cash and if it expires without being used, its value is not returned.

Each Coupon can only be used once and in case of its partial use the remaining Coins cannot be redeemed in a subsequent transaction, are not stored and are not refundable. Coupons cannot be used in combination with any other promotion.

Each Coupon is strictly intended for the individual use of the User as legal owner and COSMOTE PAYMENTS is not responsible nor is it obliged to replace or cancel it, in the event of its theft or loss or the deletion of the electronic messages through which it has been sent, or its use by a third party.

Any improper use of the Service is expressly prohibited (such as, indicatively, communicating the Coupon code to any third party, attempting to redeem random codes en masse, etc.) and in the event that such use comes to the attention of COSMOTE PAYMENTS, the latter retains the right to apply what is set out in chapter 9 "Behavior of Users".

6. SERVICES NOT RELATED TO COSMOTE PAYMENTS SERVICES

At the same time, COSMOTE PAYMENTS may make available to Authenticated Users, through the Application, services and products of third businesses with which it cooperates. In this case, respective information shall be sent to the Users by the third business through the Application for such offered service/product and the terms of use thereof and the Users shall be previously requested to accept them in order to have access to the services of the third parties. In any case, it is understood that the specific services/products shall be provided by the third business with which the Users will enter into an agreement and from which the provision thereof will be expected. COSMOTE PAYMENTS shall provide access to the Users to such service/product of a third business only through the Application.

Consequently, the Authenticated User of the Application recognizes and accepts that the fact that they are a customer of the Company regarding COSMOTE PAYMENTS Services does not entail that they will automatically meet the conditions and terms that the third business sets for the provision of its products and services through the Application, nor can it be considered that the Customer has such claim towards them. COSMOTE PAYMENTS explicitly declares, and the User recognizes and accepts that COSMOTE PAYMENTS shall bear no liability towards the Users for the quality of the provision of services of third businesses through the Application. The third business with which the User will enter into an agreement in order to receive the services provided to them shall be exclusively liable towards the User and the User shall have no right to bring any claim against COSMOTE PAYMENTS arising from this fact.

7. HELP AND SUPPORT

For any clarification or report regarding the Application and the Services provided through it, the Users can call the COSMOTE PAYMENTS Customer Service at the contact phone number +49 228 534 14060 or send an email to info@payzy.de, as well as send a letter to the postal address: “COSMOTE PAYMENTS – Electronic Money Services Single-Member S.A.”, Maroussi, Attica, 99 Kifissias Avenue, post-code 151 24.

In addition, the Users of the Application can get support and help regarding the operation of the Application and the Services provided through it, by the following means through the Application:

“Contact form during the process of User authentication of the Application”

The Users of the Application who have not completed their authentication process shall be supported during the procedure of their registration through the creation of a contact electronic form.

“payzy app FAQ”

Authenticated Users of the Application shall be provided with the ability to read articles describing the operation of the Application. COSMOTE PAYMENTS must keep such articles updated and ensure their adequacy.

“Yzy Bot”

The “Yzy Bot” functionality is an automated information and service channel for the operation of the Application and the services provided through it and it is addressed to Authenticated Users of the Application. The respective Authenticated User of the Application shall be exclusively responsible for all and any content they post, publish, send, transfer, or otherwise make available through “Yzy Bot” and must comply with the rules and provisions of the applicable legislation and abstain from any illegal and abusive use thereof.

“COSMOTE PAYMENTS Agent”

Authenticated Users of the Application can communicate —as the case may be, following the creation of a relevant request for support through the “Yzy Bot” functionality — through chat or call to a call centre at the number +49 228 534 14060 with an available COSMOTE PAYMENTS agent or a COSMOTE PAYMENTS agent can communicate with them to resolve their request for support at the contact phone number and hours they declare.

8. SECURITY

The User must take every necessary measure to protect the mobile device from theft or loss, throughout the duration of use of the Application.

The User must use adequately and with security their device and the programs required for their access to the Application and its use and recognises that COSMOTE PAYMENTS shall bear no liability for the suitability and security of the device and of the programs of third parties required for the access and use of the Application by them. COSMOTE PAYMENTS shall not be liable for any damages that may be caused to the User’s device, through which they use the Application, to their hardware and software or for any loss of data that may arise from the use of the Application.

The User must ensure the secure operation of their device and the Application, they must install the most recent and updated version of the application software and the operating system supported by its device, as well as use applications and programs in general that come from trusted, reliable, and certified software providers. The applications and the programs must be used only when the User is certain about the source of their origin.

The User must not visit, through their device, websites with malicious software or websites of unknown (controversial) origin, since there is a risk of the device and the Application being infected by viruses, as well as risk of alteration, loss and/or leakage of their personal data. COSMOTE PAYMENTS does not guarantee that despite the exercise of due diligence, the functions of the Application will be uninterrupted or free from any kind of errors and viruses. Moreover, the Company shall bear no liability for any damage caused to the User’s device, through which they use the Application, due to lack of appropriate anti-virus program. Therefore, the User must ensure the protection of their device (use of anti-virus, virus scanner or other protection programs) before and throughout the use of the Application.

The User is committed not to proceed to the installation of the Application on a jailbroken or rooted device. Such devices are vulnerable to malicious attacks and viruses endangering, among others, the security of the device and the Application. COSMOTE PAYMENTS shall bear no liability for any executed act through a jailbroken or rooted device and/or on a jailbroken or rooted device and the User shall bear any respective liability.

The User recognises that they are obliged and bear exclusive liability for safekeeping passwords/personalized security credentials, which are strictly personal and secret. COSMOTE PAYMENTS recommends, and the User recognises and knows that the change of passwords/personalized security credentials at regular intervals, and following the first use, is a necessary security measure, the implementation of which must be ensured by them. The User must not disclose the above details or record or store them in a manner that access of third parties to them becomes possible.

It is highlighted that COSMOTE PAYMENTS will never ask from the User and for no reason and in any way (by phone or e-mail or SMS) the disclosure of the passwords/personalized security credentials, even in the case where their authentication is needed anew. Any communication (by phone or e-mail or SMS), by which the disclosure of passwords/personalized security credentials is requested from the User shall be considered suspicious and must be treated as such by the User.

In case where any third person requests by phone or any other means and manner from the User to disclose to them the passwords/personalized security credentials, the User must not proceed to this action, but instead must promptly report the incident to COSMOTE PAYMENTS in order to proceed to the appropriate actions. In addition, the User shall be obliged to take all necessary measures for safekeeping their device (e.g. PIN) and access features (e.g. Face ID, Touch ID, etc.) and when they take notice of theft or loss of the device or misappropriation of the device or unauthorized use thereof by an unauthorized person, they shall be obliged to notify without delay COSMOTE PAYMENTS at the number of the special telephone service indicated in the section “Communication / Out-of-court Dispute Resolution”. The User must fulfil the above with increased attention and diligence, otherwise they shall be considered as showing gross negligence.

The User must be continuously informed on the security information and recommendations provided by the COSMOTE PAYMENTS website and duly observe them.

9. BEHAVIOUR OF USERS

The opinions expressed in all means offered by the Application belong to the Users expressing them. These opinions do not represent the opinions of the Company, the management, or its employees. COSMOTE PAYMENTS shall bear no liability and renounces any liability for the content and comments contributed by the Users. The Users of the Application must comply with the rules and provisions of the respective legislation and abstain from any unlawful and abusive behaviour during its use and in relation to it, as well as from adopting unfair competition practices and other unlawful practices.

Indicatively, and not restrictively, the following shall be forbidden:

The use of payzy for professional purposes or any other use apart from the personal one.
The use of the Application in breach of laws and regulations that govern the business activities of COSMOTE PAYMENTS, including indicatively, and not restrictively, the legislation on unfair competition in general and deceptive advertising in particular, direct advertising in general and spamming, as well as the legislation on personal data protection.
The use of the Application aiming at the establishment and promotion, in any way, of any kind of advertisement or spam, chain mail and any other form of unwanted forwarding of content or mail, the publication, sending or transmission in any way of material, which includes viruses or malicious software, any other codes, files or programs designed for the interruption, damage, destruction of the operation equipment of any computer software or hardware.
The use of the Application in a manner that infringes copyrights, related rights, patents, trademarks of products or services, trade names, trade secrets or other intellectual property rights or the personality of third parties and the right to personality. The posting or transmission/sending of unlawful, threatening, discrediting, offensive, obscene, provocative, pornographic, or hateful messages against any person or any other material that may constitute or encourage behaviours that constitute criminal offence or may give rise to claims or violate the law in any other way. The User of the Application shall be liable for any damage caused to the Application due to the incorrect or unlawful use of the Application and the services offered through it. In case where COSMOTE PAYMENTS is involved in any litigation or obliged to pay any kind of compensation due to the breach of the user’s obligations provided for in these Terms, the user shall be obliged to compensate COSMOTE PAYMENTS for this reason.
The posting of content or material that may be characterized as:

a) racist, sexist, homophobic, obscene, violent, cruel, or strong or harmful for minors;

b) defamatory or slanderous for any User, group or organization, or expressions of hatred;

c) abusive, threatening or otherwise possible to be harmful for the Users of the Application;

d) in breach of any respective local, national, or international law or that instigate or encourage the violation of any such law;

e) offensive or inappropriate in any way, based on the Company’s policy;

f) violations of rights (including copyrights, patents, trademarks, trade, or industrial secrets) of any legal or natural person, as well as any content that may be contrary to the law.

In any case of use which is unlawful or contrary to these Terms, COSMOTE PAYMENTS shall be entitled to discontinue access to the Application, notifying respectively the User, and the Users shall be obliged to compensate COSMOTE PAYMENTS for any direct and consequential damage. Any non-exercise by COSMOTE PAYMENTS of its rights deriving from the Terms shall not entail waiver by COSMOTE PAYMENTS of such rights.

10. ROUTING TO WEBSITES OF THIRD PARTIES

In case a link is provided by the Application to websites of third parties, such third parties (website providers) shall have full (civil and criminal) liability for the security, lawfulness and validity of their content and websites, any liability of COSMOTE PAYMENTS being excluded, such as, indicatively, liability regarding intellectual and industrial property rights. The provision of a link from the Application to a website of a third party in no case shall mean or imply the approval of the website or its content by COSMOTE PAYMENTS.

References by Users to other websites of third providers are outside of the control of COSMOTE PAYMENTS. Therefore, COSMOTE PAYMENTS cannot be considered responsible for the content of such websites and the Application’s Users shall be obliged to refer directly to third parties (website providers) for any issue that arises from the visit and/or use thereof. Notwithstanding that the Users accept that COSMOTE PAYMENTS shall not be obliged, nor may it control the security and the content of the websites and services of third parties to which it provides access, however it shall be entitled to remove, modify or interrupt any service of a third party or connection with a website of a third party if, at its discretion, the law or these Terms are threatened or violated. The User will be notified each time before they are transferred to a website or application of a third party.

11. INTELLECTUAL PROPERTY RIGHTS

Except for rights of third parties, the entire content of the Application, including images, graphics, photographs, designs, text, provided services and products constitute intellectual property of COSMOTE PAYMENTS and shall be protected according to the relevant provisions of the Greek law, the European law and international conventions.

Any copy, distribution, transfer, processing, resale, creation of derivative work or deception of the public regarding the actual provider of the content of the Application shall be prohibited. Any reproduction, reissue, uploading, announcement, dissemination or broadcasting or any other use of the content in any way or by any means for commercial or other purposes shall be permitted following a prior written authorization of COSMOTE PAYMENTS or any other beneficiary of the intellectual rights. The names, images, logos, and distinctive characteristics indicated on the Application are exclusive trademarks of COSMOTE PAYMENTS or of third parties protected by the relevant laws on trademarks. Their display on the Application must in no case be perceived as transfer or assignment of authorization or right to use them.

12. PROCESSING OF PERSONAL DATA

For the purposes of operation of the Application and provision of the Services through the Application, COSMOTE PAYMENTS, as controller, shall proceed to the collection, storage, and processing of personal data of the User, according to the applicable European and national legislative and regulatory framework from time to time. The User has been informed by COSMOTE PAYMENTS in a clear and intelligible manner on the processing of their data, the recipients of the data, as well as the rights granted to them by the applicable institutional framework, while at the same time they undertake the obligation to timely inform COSMOTE PAYMENTS of any change in their personal data. For the collection, storage and processing of personal data of the User, the terms indicated in the forms (a) COSMOTE PAYMENTS Personal Data Protection Policy and (b) Information on Personal Data Processing through payzy Application shall apply, which are available on the Website of the Company.

13. OTHER TERMS – GOVERNING LAW AND JURISDICTION

Any violation or indication of violation of the Terms by the User shall entail the prompt removal of their right to receive, install and use the Application. If the User does not agree with the Terms, they must immediately remove this Application from their device and delete any copies thereof. The User is recommended to create backups, before the installation, and regularly during the use of this software.

COSMOTE PAYMENTS may suspend the use of the Application and its corresponding Services, for reasons related to their security, suspicion of unauthorized or fraudulent use thereof or for reasons related to the certification and authentication of the Users. COSMΟTE PAYMENTS shall inform the Users in any way considered appropriate for the suspension of use of the Application and the Services and for the reasons of the suspension, if possible prior to the suspension or immediately after, unless this information is contrary to objectively justified security reasons or prohibited by any related EU or national legislation. In case the reasons of the suspension do not apply any more, the suspension shall be removed.

Also, any termination, dissolution or expiry of the Framework Agreement shall result to the automatic cessation of provision of the Service.

COSMOTE PAYMENTS shall make every effort so that the information and the entire content of the Application are characterized by accuracy, clarity, completeness, correctness, adequacy, time proximity and availability, while it does not provide a guarantee and, therefore, it shall not be liable for the achievement of the above characteristics. In no case shall COSMOTE PAYMENTS be liable for any kind of damage that may be caused to the User or a third party on the occasion of use thereof.

COSMOTE PAYMENTS shall not be liable for the interruption of the Application provision and, in general, for the violation of these Terms due to force majeure, such as, indicatively, extreme weather conditions, earthquakes, floods, fires, emergency conditions, etc.

Unless no binding lawful clauses of Germany and/or binding consumer laws of the European Union withstand or oppose, these terms and conditions and all its changes shall be governed by Greek law. Any dispute that may arise from these terms shall be resolved by the competent Courts of the Customer’s residence or registered office or of the place of conclusion of the agreement between the User and COSMOTE PAYMENTS.

14. COMMUNICATION / OUT-OF-COURT DISPUTE RESOLUTION

For any grievance, complaint or other dispute related to the Application and/or its Services, the User may refer to COSMOTE PAYMENTS, by filling in a relevant form for submission of grievances/complaints, as provided for in the form on the website cosmotepayments.gr. This completed and signed form must be sent to COSMOTE PAYMENTS either by e-mail to the address complaints@cosmotepayments.gr or by mail to “COSMOTE PAYMENTS – Electronic Money Services Single-Member S.A.”, Maroussi, Attica, 99 Kifissias Avenue, post-code 151 24.

The Company shall make available to the User on a constant (24-hour) basis a special call service (from Germany: 0228 534 14060 and from abroad: +49 228 534 14060) for the notification of loss, theft, misappropriation, or unauthorized use of the Device, which shall be recorded on a magnetic medium.

Every User may directly submit a complaint to COSMOTE PAYMENTS, which shall make every effort to respond in paper or electronic form to the User within fifteen (15) working days from the receipt of the complaint.

For the alternative/out-of-court resolution of disputes that arise between the User and COSMOTE PAYMENTS regarding the rights and obligations deriving from these terms and the relevant legislation, the User may refer to the Independent Authority “Greek Ombudsman” (Postal Address: 144 Alexandras Avenue, 114 71 Athens, phone +30 210 6460862, +30 210 6460814, +30 210 6460612, +30 210 6460734, +30 210 6460458, central e-mail grammateia@synigoroskatanaloti.gr, website synigoroskatanaloti.gr/en), or to the entity of Hellenic Financial Ombudsman (1 Massalias Street, 106 80 Athens, hobis.gr/en, phone +30 210 3376700), or to the Federal Financial Supervisory Authority BaFin (Graurheindorfer Str. 108, 53117, Bonn, phone +49 228 4108-0, fax +49 228 4108-62299, e-mail schlichtungsstelle@bafin.de, website bafin.de.

The Users can be informed on the alternative/out-of-court resolution of disputes and the entities of Alternative Dispute Resolution (ADR), which are registered in the ADR Register and to which they can refer to from the website of the Ministry of Development www.mindev.gov.gr.