FRAMEWORK SERVICE AGREEMENT – TERMS OF USE OF COSMOTE PAYMENTS E-WALLET

Last update of terms: 10.10.2025

The update concerns the Verification of Payee (VoP) Service

The company under the name “COSMOTE PAYMENTS – ELECTRONIC MONEY SERVICES SINGLE-MEMBER S.A.” (hereinafter “COSMOTE PAYMENTS”) 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 lawfully 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 in 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 EMI registration number of BoG 3, for the provision of electronic money services and payment services. These services shall be provided according to the terms and conditions included herein, as well as according to those to which they may refer, constituting the Framework Agreement for the provision of electronic money and payment services between COSMOTE PAYMENTS and the User (hereinafter “Terms”).

The address of the offices and the contact details (physical and online) of COSMOTE PAYMENTS are published at cosmotepayments.gr .

COSMOTE PAYMENTS is supervised by the Bank of Greece, which has its registered office at 21 El. Venizelou Street, 102 50 Athens, and the website www.bankofgreece.gr/en , and by the Secretariat-General of Commerce and Consumer Protection (Kaningos Square, 101 81 Athens and e-mail 1520@mindev.gov.gr (legislation for the protection of consumers) and Law 4537/2018.

I.GENERAL TERMS

These General Terms shall govern the relationships of any User with COSMOTE PAYMENTS. More specific and/or supplementary terms to these may apply depending on the type of the Service, the category to which the User belongs (natural/legal person) and the respective Transaction. In addition, there are specific terms governing the individual procedures applied for the provision of the Services. Where in these Terms reference is made to more specific or supplementary terms, the respective link shall be provided. The terms have been drawn up in Greek. However, the communication of the User with COSMOTE PAYMENTS can be conducted either in German or in English.

In case of conflict of the Terms hereof with the translated text in English or in another language, the Greek version shall prevail. Any reference to national legislation links to Greek legislation.

1.DEFINITIONS

For the purpose of the Terms, the following words and phrases shall have the meaning attributed to them here.

ACCEPTANCE OF PAYMENT ACTS: Payment service of COSMOTE PAYMENTS to the User as beneficiary, for the acceptance and processing of payment acts, which ends to the transfer of amounts to the User’s E-Wallet.

ACCOUNT INFORMATION SERVICE: The online Service for the provision of aggregated information in relation to one or more payment accounts held by the User either in another payment service provider or in more than one payment service providers.

ACCOUNT INFORMATION SERVICE PROVIDER: The payment service provider providing payment account information services.

AUTHENTICATED PAYMENT CARD: The active prepaid and debit payment card, issued by a recognized entity of the financial system in cooperation with the card organizations (indicatively VISA & MASTERCARD), the User of which has been authenticated as legal beneficiary and holder according to the process provided for in the Terms.

AUTHENTICATION: The process followed by COSMOTE PAYMENTS for the verification of the identity of the User or the validity of use of a specific payment instrument, including the use of personalized security credentials of the User.

AVAILABLE BALANCE: The electronic money amount that remains credited to E-Wallet, which is available for the execution of payment acts, as well as Payment and Redemption Transactions.

BALANCE: The total of electronic money that remains credited in E-Wallet, which in addition to the Available Balance includes the total of Pending Transactions, Committed Amounts and any non-settled debits and credits for any reason.

BENEFICIARY: The natural or legal person who is the final recipient of the amounts that are subject of a payment act.

BUSINESS DAY: The day on which COSMOTE PAYMENTS or any third payment service provider that participates in the execution of a payment act performs business activities, as required for the execution of the payment act. Business days for COSMOTE PAYMENTS are considered the working days of the Greek state.

CASH-IN TRANSACTION: A transaction that aims to the issue of electronic money by COSMOTE PAYMENTS through payment to COSMOTE PAYMENTS of a monetary equivalent and, consequently, its credit to E-Wallet.

COLLECTION TRANSACTION: A transaction attempted and/or executed through E-Wallet, COSMOTE PAYMENTS Payment Instruments and/or other Payment Instruments, in which electronic money of equivalent monetary value to the amount of the respective payment order of the payer to the User for lawful cause, as specified by COSMOTE PAYMENTS, is credited to the User’s E-Wallet.

COMMITTED AMOUNT: Any amount of electronic money which is credited to the User’s E-Wallet and which is committed at the initiative of COSMOTE PAYMENTS for reasons of assurance of the same and/or of third recipients or providers of payment services (e.g. challenge of transaction, pending Verification and Authentication process) to which the User does not have access and cannot be used by the User in their transactions until its release.

COMMITMENT OF TRANSACTION: The non-credit of the amount of a Transaction/Payment Act to the beneficiary within the deadline provided for in the Terms, which is made due to (a) challenge of such transaction and/or (b) investigation of the Transaction by COSMOTE PAYMENTS and/or by Entities cooperating with it or competent third parties for any reason and/or (c) a pending process for the certification of the payer’s or the beneficiary’s identity, and for as long as the above circumstances exist.

CONSUMER: The natural person, who, regarding this agreement, does not act for commercial, business, or professional purposes. Micro-enterprises, as defined below, also fall within the meaning of Consumer.

COSMOTE PAYMENTS AGENTS: The natural or legal persons that provide Services in the name of COSMOTE PAYMENTS and the activity of whom/which has been duly authorized and registered by the competent supervisory authority. 
A detailed list of COSMOTE PAYMENTS agents is published on cosmotepayments.gr .

COSMOTE PAYMENTS PAYMENT INSTRUMENT: The payment instrument as defined in Law 4537/2018, as in force, which is issued by COSMOTE PAYMENTS and may be integrated in an electronic, digital, paper, or magnetic medium or be virtual (indicatively and not restrictively debit/prepaid COSMOTE PAYMENTS cards).

DIRECT DEBIT: The payment service by which the User’s E-Wallet is debited, when the initiation of a payment act is conducted by the beneficiary based on the consent of the User to the beneficiary, the service provider of the beneficiary or COSMOTE PAYMENTS, as payment service provider of the User.

DURABLE MEDIUM: The medium that enables the payment service user to store the information addressed to them personally, in a manner that they continue to have access to it in the future for an adequate period for the purposes served by the information and to reproduce the stored information as such.

E-WALLET: The respective payment account (within the meaning of Law 4537/2018, as in force from time to time) held by COSMOTE Payments in the name of the User, in which electronic money is saved and which is used for the execution of payment acts with equivalent debit and credit thereof.

GROUP: The total of undertakings affiliated to each other within the meaning of paragraphs 1, 2 or 7 of Article 32 of Law 4308/2014 (GG A 251) or undertakings, as defined in Articles 4, 5, 6 and 7 of the Commission Delegated Regulation (EU) No 241/2014 (OJ L 74), which are affiliated to each other according to the meaning of Article 10(1) or Article 113(6) or 113(7) of Regulation (EU) No 575/2013.

ISSUE OF ELECTRONIC MONEY: Any monetary value stored in electronic, including magnetic, carrying medium, which appears as claim against COSMOTE PAYMENTS, which has been issued following the receipt of an amount for the purpose of conduct of payment acts and is accepted by other natural or legal persons beyond COSMOTE PAYMENTS.

ISSUE OF PAYMENT INSTRUMENTS : Payment service of COSMOTE PAYMENTS to the User as Payer which is provided pursuant to a special agreement between them for the provision to the User as payer of a COSMOTE PAYMENTS payment instrument.

MICRO-ENTERPRISE: The enterprise which, upon the acceptance hereof, falls within the meaning of Article 2 par. 9 of Law 2251/1994. The terms of this Framework Agreement shall also apply to micro-enterprises, except for the cases which are explicitly excluded.

PAYER: The natural or legal person who holds a payment account and allows a payment order from this account or, if there is no account, the natural or legal person that gives a payment order.

PAYMENT ACCOUNT: The account held in the name of the User of payment services and used for the execution by them of payment acts.

PAYMENT ACT: Act, the initiation of which is conducted by the payer or on their behalf or by the beneficiary and consists of the disposal, transfer, or withdrawal of amounts, regardless of any underlying obligation/cause between the payer and the beneficiary.

PAYMENT CARD INDUSTRY DATA SECURITY STANDARD or PCI-DSS STANDARD: The global information security standard as determined by the Payment Card Industry Security Standards Council, with the purpose of restriction of the possibility of endangering or fraudulent use of payment cards and of their holders. It is applied to all organizations that store, process, and transmit data of card holders.

PAYMENT INITIATION SERVICE: The service for the initiation of a payment order upon request of the User in relation to a payment account held in another payment service provider.

PAYMENT INITIATION SERVICE PROVIDER: The payment service provider providing payment initiation services.

PAYMENT ORDER: Any instruction on behalf of the payer or the beneficiary to COSMOTE PAYMENTS by which the execution of a payment act is requested.

PAYMENT SERVICE PROVIDER: The entities referred to in Article 1, paragraph 2 of Law 4537/2018, including COSMOTE Payments, as an electronic money institution, or the natural or legal person that is exempted, in accordance with Article 34 of the same Law.

PAYMENT SERVICES: These are the following business activities:

1) Services enabling deposits of cash to a payment account, as well as all activities required for holding a payment account;

2) Services enabling withdrawals of cash from a payment account, as well as all activities required for holding a payment account;

3) Execution of payment acts, including the transfer of funds to a payment account of the User held in COSMOTE PAYMENTS or in other payment service provider;

I. execution of direct debit orders, including one-off direct debit;

II. execution of payment acts with payment card or corresponding instrument;

III. execution of credit transfer, including standing orders;

4) Issue of payment instruments and/or acceptance of payment acts;

5) Remittance services;

6) Payment initiation services;

7) Account information services.

PAYMENT TRANSACTION: A transaction attempted and/or executed through E-Wallet and/or the COSMOTE PAYMENTS Payment Instruments and/or other Payment Instruments in the context of which the User, as payer, pays an amount to a beneficiary, regardless of the underlying cause, through equivalent debit to the Available Balance of the User’s E-Wallet.

PENDING TRANSACTION: Any Transaction the completion of which is pending.

PERSONAL DATA: As defined according to Regulation (EU) 2016/679 of the European Parliament and of the Council, of 27 April 2016, on the protection of natural persons regarding the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC, as in force.

PERSONALISED SECURITY CREDENTIALS: The personalized details provided by COSMOTE PAYMENTS to the User with the purpose of verification of their identity.

PROFESSIONAL USER: The User, natural or legal person, that uses the Services for the execution of Transactions that fall within its professional capacity and does not fall within the definition of micro-enterprise of Article 2 par. 9 of Law 2251/1994.

REDEMPTION TRANSACTION: A transaction attempted and/or executed by the User with the purpose of redemption of part or all the electronic money which is credited as Available Balance to E-Wallet through the collection of the corresponding amount and the corresponding reduction of the Available Amount.

REIMBURSEMENT BY A USER: Any request by any third payer for reimbursement to them of an amount paid to the User within a Collection Transaction.

REIMBURSEMENT TO A USER: Any request of a User for reimbursement of electronic money paid by them within a Payment Transaction/payment act in their capacity as payer to a third party.

REMITTANCE SERVICE: The Payment Service upon which an amount is received by a payer, without a payment account being created in the name of the payer or the beneficiary, with sole purpose the transfer of a corresponding amount to a Beneficiary or another payment service provider acting on behalf of the beneficiary and/or upon which these amounts are received on behalf of the beneficiary and made available to them.

REMOTE PAYMENT ACT: Payment Act, the initiation of which is conducted through the Internet or through a device that may be used for remote communication.

REPEATED TRANSACTION ORDER: The order that may be given by the User to COSMOTE PAYMENTS authorizing it to proceed repeatedly to specific transactions which they have pre-approved regarding their amount and/or type and/or regularity.

SERVICES: The services of issue and redemption of electronic money provided by COSMOTE PAYMENTS to the Users, as determined and notified from time to time by COSMOTE PAYMENTS.

STRONG USER AUTHENTICATION: The authentication of the User based on the use of two (2) or more details concerning knowledge (detail that only the User knows), occupation (detail that only the User occupies) and a unique intrinsic feature thereof (biometric details of the User, that is, a detail that the User is) and which details are independent from each other, in the aspect that the violation of one does not endanger the reliability of the others and the process of which is designed in a way that confidentiality of authentication data is protected.

For the rest, the definitions indicated for electronic money and payment services institutions in Law 4021/2011 and Law 4537/2018, as in force from time to time, shall apply.

USER: The natural (over 18 years old) or legal person (as legally represented) that registers in and uses the Services as these are provided from time to time by COSMOTE PAYMENTS, including E-Wallet, under these Terms, either in the capacity of Payer or in the capacity of Beneficiary or in both capacities.

VALUE DATE: The reference point of time used by the Payment Service Provider for the execution of payment acts regarding the movement of budget balances of the Payment Account.

VERIFICATION: The process of certification of authenticated information provided by the User.

2.SCOPE AND PURPOSE

Scope of the Terms is the regulation of the relationships between the Users and COSMOTE PAYMENTS regarding the provision and receipt of the Services.

3.GENERAL CONDITIONS FOR THE PROVISION OF SERVICE

3.1 This Agreement shall apply to Payment Acts or Services provided in Europe. Condition for the provision of any Service by COSMOTE PAYMENTS shall be the completion of registration of the User and opening of E-Wallet. The conditions and the procedure of registration, opening and activation of E-Wallet, which are indicated on the respective application for mobile phones through which E-Wallet will be provided (hereinafter “Application”) and differentiated depending on the value and categories of Transactions that the User wishes to conduct.

3.2 Conditions and Terms of Registration:

3.2.1 The registration of every User shall be made electronically through the Application through systemic guidance of the User depending on the category they belong and the type of Services they intent to receive.

3.2.2 Every Payment Service User entitled to use the payment instrument must use the payment instrument according to the terms governing its issue and use.

3.2.3 Every User shall declare and register electronically the details systemically required for the completion of their registration and shall accept the Terms, after they read them carefully and understand them. Every User is recommended to print and/or store the Terms accepted by them on a durable in time medium. Condition for the registration is full legal capacity. The User, during this agreement, shall be entitled to request from COSMOTE PAYMENTS to receive these Terms in paper or on a durable medium.

3.2.4 In addition, every User must register:

a) The e-mail address legally obtained by them, for which they declare and guarantee that they are the legal user thereof and that they will take all appropriate measures to prevent any unauthorized access and use thereof, while they acknowledge and accept that any communication using this e-mail address is presumed to originate from, be addressed to and received by them.

b) The mobile phone connection number of which they are subscriber or holder, for which they declare and guarantee that they are the subscriber or/and legal user thereof and that the mobile phone connection number is identified in their name as subscriber or legal user and that COSMOTE PAYMENTS shall bear no liability for any damage from any access of third parties to it.

c) Access code (hereinafter “password”) to their E-Wallet, formed by them following the systematic guidance of COSMOTE PAYMENTS, for which they declare that they will keep it secret and will not reveal it, and they will take all appropriate measures to prevent its leakage to third parties, including the change thereof at regular intervals for security reasons, as well as in case they suspect or become aware of leakage thereof.

3.2.5 The User shall declare that all details submitted and disclosed to COSMOTE PAYMENTS are accurate and true and shall be obliged to promptly inform COSMOTE PAYMENTS, in writing or electronically through the Application, of any change in their declared details.

COSMOTE PAYMENTS will never and in no way request from the User (by phone or e-mail) to disclose to it their E-Wallet password. Any communication (by phone or e-mail) by which the disclosure of their E-Wallet password is requested from the User shall be considered suspicious and must be treated as such by the User. If the User discloses to any third person their e-mail and E-Wallet password, then the User shall also bear the liability for the consequences from unauthorized access and use, such as, indicatively, access of the third person to the available balance of their E-Wallet for the conduct of transactions, access to history of transactions and authentication details, change of the User’s personal details, the User’s blocking, for the conduct of transactions through this account and others. If the User suspects that their authentication details (e.g. password, e-mail) have been intercepted or disclosed in any way to a third party, they must change them and promptly notify COSMOTE PAYMENTS at the contact details notified on its website cosmotepayments.gr .

COSMOTE PAYMENTS may request the registration of additional details from any User in the context of Verification – Authentication process, depending on the category they belong, the type and/or the amount of Transactions they conduct, but also based on other criteria that may be developed by it as the case may be.

In any case the User shall be obliged to take appropriate measures so that the equipment they use in the context of these terms (e.g. mobile phone) is equipped with appropriate special security programs (such as, for example, antivirus program) to avoid and counteract infections from malicious software.

4.AUTHENTICATION – VERIFICATION

4.1 COSMOTE PAYMENTS reserves the right to confirm the truth and accuracy of the details registered by the User and apply at any time User Authentication – Verification processes with the purpose of confirming the User’s identity.

4.2 Verification and Authentication rules and procedures applied shall be designed, selected, and implemented based on the following criteria:

a) the type of the User and/or

b) the type of Transactions conducted by them and/or

c) the amount of Transactions conducted by them.

4.3 The implementation of Authentication – Verification processes aims to ensuring conduct of transactions with security, to preventing and combating fraud and money laundering and terrorist financing (“AML/CFT”). For this reason, Authentication – Verification processes and the policies applied by COSMOTE PAYMENTS for this purpose shall be designed and updated according to the obligations of compliance of COSMOTE PAYMENTS with the applicable legislation on AML/CFT. The respective User shall be systemically guided regarding the User Authentication and Verification process they must follow depending on those set out above under Clause 4.2.

4.4 COSMOTE PAYMENTS reserves the right to request from any User details and information concerning them or the person they represent, in Transactions conducted using the Services, as well as third persons participating or involved in these Transactions, pursuant to its policies and processes and/or individual measures taken by it for the verification and authentication of its Users, and in particular in compliance with the applicable legislation on prevention and combating money laundering from criminal activities and terrorist financing (“AML/CFT”).

4.5 COSMOTE PAYMENTS reserves the right to request from any User, and they must comply, to proceed to the execution of actions that may involve third parties with the purpose of verification of the details registered by them and their authentication.

4.6 COSMOTE PAYMENTS shall apply User Verification and Authentication processes with which the User must comply as systemically notified to them by COSMOTE PAYMENTS. COSMOTE PAYMENTS reserves the right to unilaterally revise the applicable policies and processes and the individual actions included in them and apply individual actions as the case may be and at its discretion for the fulfilment of their purpose, as provided for in Clause 4.3.

4.7 The Users must provide and register true, accurate, adequate, and valid details and documentation material and must proceed to any Verification and Authentication action indicated to them, promptly and as soon as it is requested by COSMOTE PAYMENTS. The Users recognise and accept that omission or failure to fully comply with the COSMOTE PAYMENTS requirements in the context of Verification and Authentication processes and actions may result, at the absolute discretion of COSMOTE PAYMENTS, to unilateral suspension of the provision of Services, the commitment of the E-Wallet Available Balance and/or termination hereof, without penalty, for good reason.

4.8 COSMOTE PAYMENTS shall apply Strong User Authentication in all cases where the User:

a) has online access to E-Wallet,

b) commences an electronic payment act,

c) executes any action through a remote channel which may constitute a risk of fraud in payments or other violations.

4.9 In particular in cases 4.8.(b) and 4.8.(c) above, COSMOTE PAYMENTS shall apply Strong User Authentication which shall include details dynamically connecting the transaction with a specific amount and a specific beneficiary. COSMOTE PAYMENTS shall apply appropriate security measures for the protection of confidentiality and integrity of personalized security credentials of the Users. The provisions of this paragraph shall also apply in the case where the initiation of payments is conducted through a payment initiation service provider.

The provisions of Clauses 4.8. and of the second subparagraph of Clause 4.9. shall also apply when information is requested through an account information service provider. COSMOTE PAYMENTS shall allow payment initiation service providers and account information service providers to rely on the authentication processes that COSMOTE PAYMENTS provides for the Users according to paragraphs 4.8. and 4.9 above.

5.FEES – BALANCES – DATES

5.1. Fees – Charges 

5.1.1 The applicable fees (tariff) of COSMOTE PAYMENTS provided services periodically on the website (cosmotepayments.gr).

5.1.2 The amendment of fees falls within the provisions of Clause 11 on the amendment to the agreement.

5.1.3 The COSMOTE PAYMENTS fees for the provision of Services to the Users shall become due at the time of provision of the Service they concern.

5.1.4 Any Reimbursement amount from a User shall become due and payable as soon as the Reimbursement request is notified to the User by COSMOTE PAYMENTS, subject to the provisions on Amount Commitment, which may suspend collection at the discretion of COSMOTE PAYMENTS.

5.1.5 COSMOTE PAYMENTS shall collect the amounts due to it as soon as they become due by direct debit and corresponding reduction of the E-Wallet Available Balance of the User, without any notice being required in this regard. Upon acceptance of the Terms, the User explicitly and unreservedly authorizes COSMOTE PAYMENTS for their collection through equivalent debit of the User’s E-Wallet. COSMOTE PAYMENTS fees due debited to E-Wallet but not collected due to insufficient Available Balance shall be collected as a matter of priority towards any other fee as soon as and to the extent the Available Balance becomes sufficient.

5.1.6 Users recognise and unreservedly accept that the indication of the amount due to COSMOTE PAYMENTS in the COSMOTE PAYMENTS accounting statements and/or the updated accounting indication of movements and the E-Wallet Available Balance issued by COSMOTE PAYMENTS shall constitute full proof of the amount due from the respective User to COSMOTE PAYMENTS and vice versa, and shall not be subject to challenge, able to document full proof of the claim, adequately fulfilling the conditions for the issue of order of payment for their collection and the obligations of compliance of COSMOTE PAYMENTS as a duly authorized Electronic Money Institution.

5.2 Balances

5.2.1 The E-Wallet Balance of each User shall be formed based on the debits and credits conducted and on whether they have been completed or their completion is pending.

5.2.2 The E-Wallet Balance in electronic money may include amounts that correspond to payment acts analysed in Payment, Collection, Cash-in or Redemption Transactions that have not been settled or completed.

5.2.3 Users recognize and unreservedly accept that only electronic money corresponding to the Available Balance may be used for the conduct of any Transaction that requires debit of the User and/or redeemed.

5.2.4 Any payment order of the User through E-Wallet, for the completion of which the Available Balance of such account is not sufficient, shall not be executed and shall remain a Pending Transaction.

5.3 Consent – Time of receipt – Execution of payment orders & irrevocable orders

5.3.1 Prior to the execution of a payment act, the User shall provide their consent through the Application. During the process of provision of consent, the User shall be requested to provide the personalized security credentials they have selected to use through the Application (unique password, biometric details), in order to be fully authenticated. The consent for the execution of a payment act may also be granted through a payment initiation service provider or through the beneficiary.

5.3.2 A payment order of the User shall be given to COSMOTE PAYMENTS in direct on-line connection through the User’s Application to which they shall enter using the password according to Clause 3.2.4 (c)

5.3.3 A payment order given for execution within one day either by the User themselves as payer or by the beneficiary shall be considered having been received by COSMOTE PAYMENTS immediately at the time given by the User with simultaneous debit of the User’s E-Wallet with the amount of the payment order, and shall be executed within the same or at the latest until the end of the following business day, with equivalent credit of the beneficiary’s account. COSMOTE PAYMENTS determines as cut-off time for the settlement of transactions, from all flows that will be supported by virtue of such agreement, 00:00 p.m. (East European Time EET / Greek time). Each received payment order after the elapse of the abovementioned time shall be considered as received on the next business day. If it has been agreed that the execution of payment order shall start on a specific day or at the end of a specific period or on the day that the payer will have made available amounts to their payment service provider, then the agreed specific day shall be considered as time of receipt of the payment order for payment acts to a payment account. If this day is not a business day for COSMOTE PAYMENTS, the payment order received shall be considered as received on the next business day.

5.3.4 The User shall not be entitled to revoke a payment order that has been received by COSMOTE PAYMENTS according to the above, unless the debit has been agreed to be completed on a specific day, in which case the User shall be entitled to revoke the order at the latest until the end of the business day preceding such agreed day.

5.3.5 When the initiation of a payment act is conducted by a payment initiation service provider or by the beneficiary or through them, the payer shall not be able to revoke the payment order after the granting of their consent to the payment initiation service provider to conduct the initiation of the payment act or after their consent to the execution of the payment act to the beneficiary.

5.3.6 The User shall be entitled to revoke the direct debit order until the end of the business day preceding the day on which it has been agreed between them and the beneficiary to debit E-Wallet. If such deadline elapses, it shall be assumed that the User has approved the execution of the direct debit payment act.

The revocation of the credit transfer order shall be made in the same way as the payment order, but shall be subject to the following restrictions:

The order shall be irrevocable after its receipt by COSMOTE PAYMENTS, unless the following apply:

a) If COSMOTE PAYMENTS has not executed the order, it can be revoked.

b) If COSMOTE PAYMENTS has executed the order, it must contact either the beneficiary in order to receive the consent, if it concerns a payment to it, or, otherwise, the other payment service provider. If the other part agrees, the initial act can be cancelled through the execution of a payment reversal. The cancellation may, in this case, create additional expenses of COSMOTE PAYMENTS which must be incurred by the user, and which are determined each time on the posted tariff of COSMOTE PAYMENTS and/or of the other payment service provider.

c) When an initiation of a payment act is conducted by the payment initiation service provider, the user shall not revoke the payment order after they have granted their consent to the payment initiation service provider to conduct the initiation of the payment act. In this case, the user must follow the procedure of request for revocation.

5.3.7 After the elapse of the above time limits within which a payment order can be revoked, its revocation by the User shall be allowed only following a special agreement of COSMOTE PAYMENTS with them (especially in the cases of direct debit, the agreement of the beneficiary shall also be required). In these cases, the User shall bear the revocation cost as provided for in the Tariff of COSMOTE PAYMENTS.

5.3.8 The credits of E-Wallet regarding the Cash-in Transactions shall be conducted in real time to the extent that this depends exclusively on COSMOTE PAYMENTS, and no further deadline is required by a third payment service or support service provider for the completion of the Transaction.

5.3.9 Value date:

a) The value date for the debit of the User’s E-Wallet when acting as payer may not be prior to the time on which such account is debited with the equivalent amount of the payment act.

b) The value date for the credit of the User’s E-Wallet shall be at the latest the business day on which the equivalent amount of the payment act is credited to E-Wallet.

5.4 Commitment of amounts: COSMOTE PAYMENTS shall be entitled to commit any amount credited to E-Wallet and not make it part of the Available Balance in the case where:

a) non-settled Debits of E-Wallet or Reimbursements by the User are pending and, in general, the amount corresponds to a Pending Transaction.

b) a breach by the User of the Terms or the instructions of COSMOTE PAYMENTS is assumed or committed and for as long as this is investigated, always according with the applicable legislation;

c) it corresponds to Transactions that are under Transaction Commitment status;

d) the completion of User Verification – Authentication according to Article 4 above is pending.

6.CONSUMER PROTECTION

6.1 To the extent that the Services provided are addressed to Consumers/Micro-Enterprises, the provisions of the applicable legislation on consumer protection shall apply.

6.2 Consumers have the right to withdraw from this contract without reason within fourteen (14) calendar days from the conclusion of this contract and the acceptance of the Terms. Withdrawal is not possible if the performance of the contract has been fully completed at the request of the Consumer. In any case, if the Consumer withdraws, he must pay the charges of COSMOTE PAYMENTS corresponding to the Services received in the context of this (a sample of the withdrawal form can be found in APPENDIX A hereof). After completing the form, please send it to the email address complaints@cosmotepayments.gr .

6.3 Regarding the right of information of the User in their capacity as Consumer, the relevant provisions are included in Clause 7 on information of Users by COSMOTE PAYMENTS.

7.INFORMATION – NOTIFICATIONS

7.1 The Users are recommended to read carefully all information included on the website of COSMOTE PAYMENTS, as well as the Terms, including the information to which they refer prior to their acceptance. For any clarification regarding the Terms and the Services, the Users can contact the competent department of COSMOTE PAYMENTS at the contact details notified on the Website (cosmotepayments.gr).

7.2 For all the above cases of contact provided for by the terms hereof, COSMOTE PAYMENTS shall validly notify the User at the postal or electronic address they have declared to COSMOTE PAYMENTS or through the Application, and if the User does not prove, by a document of a certain date, any change of address.

7.3 In case of change of contact details, as well as of any other detail they have registered in COSMOTE PAYMENTS, the User must correspondingly adjust their profile by being systemically guided by COSMOTE PAYMENTS regarding the required actions. In case of change of the User profile, COSMOTE PAYMENTS may request the verification and/or authentication of the changed details following the Verification and Authentication process.

7.4 COSMOTE PAYMENTS shall provide to the Users any information they request regarding COSMOTE PAYMENTS, its activity as supervised Electronic Money and Payment Services Institution, the Services, and the individual details thereof. In case the requested information is published, the obligation of information may also be fulfilled by reference of the applicant to the published details. In any case, information shall be conducted through e-mail and/or the website of COSMOTE PAYMENTS.

7.5 The following actions/the provision of information concerning the following shall be provided free of charge to the Users:

a) the general information of the User prior to the signing/acceptance of the Framework Agreement;

b) COSMOTE PAYMENTS provides the following: the terms of use of the Services, the charges and the exchange rates, contact details, the terms of reimbursement of amounts, the amendment and termination of the Framework Agreement;

c) information provided prior to or after the execution of individual payment acts to Payers and Beneficiaries.

For the service of requests for the provision of additional information, in addition to those provided for above, or of requests for the provision of information by other means, other than print or durable medium, as indicated in Clauses 7.7.1. & 7.7.2, COSMOTE PAYMENTS may impose a charge. In any case, any additional charge will be reasonable and proportionate to the actual cost of service of the request and will be notified in advance to the User.

7.6 COSMOTE PAYMENTS shall provide the Users with information, in print form or on durable medium, required for the cross-checking of the E-Wallet debits and credits and the conduct of Transactions through it and other payment instruments issued by the company connected with it, at least once (1) quarterly.

7.7 Specifically, COSMOTE PAYMENTS must at least provide the Users with the following information:

7.7.1 Immediately after the receipt of the payment order, COSMOTE PAYMENTS shall provide or make available to the payer, in print form or on durable medium, the following information regarding the services provided by COSMOTE PAYMENTS:

a) the reference details that enable the identification of the payment act by the payer and, as the case may be, the information concerning the beneficiary;

b) the amount of the payment act in the currency used in the payment order;

c) the amount of any charges for the payment act, which must be paid by the payer and, as the case may be, the analysis of the amounts of such charges;

d) as the case may be, the exchange rate used in the payment act by COSMOTE PAYMENTS;

e) the date of receipt of the payment order.

7.7.2 Immediately after the execution of the payment order, COSMOTE PAYMENTS shall provide or make available to the beneficiary, in print form or on durable medium, the following information regarding the services provided by COSMOTE PAYMENTS:

a) the reference details that enable the identification of the payment act by the beneficiary and, if needed, the payer, as well as any information transmitted with the payment act;

b) the amount of the payment act in the currency in which the amounts are made available to the beneficiary;

c) the amount of any charges for the payment act, which must be paid by the beneficiary and, as the case may be, the analysis of the amounts of such charges;

d) as the case may be, the exchange rate used in the payment act by COSMOTE PAYMENTS and the amount of the payment act prior to the conversion of the currency;

e) the value date for the credit.

7.8 Following a request by the User, COSMOTE PAYMENTS shall notify the information of Clause 7.7 above, periodically at least at the end of each calendar month, through posting on its electronic profile, providing them with the ability to store them on a resilient in time medium.

7.9 In case COSMOTE PAYMENTS refuses the execution of a Transaction, they must inform the User of the refusal, as well as, if possible, of the reasons of the refusal, and of the way of restoration, unless otherwise provided for by the applicable legislation. COSMOTE PAYMENTS may, at its disposal, impose a charge for the provision of such information under the condition that the refusal is objectively justified.

7.10 In addition to any obligations on notification of details and information, as well as on the notification of changes therein undertaken by the User, in the framework of Authentication, Verification and Strong User Authentication, the User must notify COSMOTE PAYMENTS in writing of any change in any information or detail declared or notified to COSMOTE PAYMENTS in view and in the framework of receipt of the Services, and especially if they may affect their provision or receipt. The notification of these changes will be made through E-Wallet systemically, no later than the following day from their completion.

7.11 Until the notification of the change to COSMOTE PAYMENTS according to the above, the User shall have no right to rely on any claim, objection, or argument towards COSMOTE PAYMENTS that is based on the non-notified change.

7.12 COSMOTE PAYMENTS may proceed to the suspension of the ability to use the payment instrument, for objectively justified reasons related to the security of the payment instrument, upon existence of suspicion of unauthorized or fraudulent use of the payment instrument. In these cases, COSMOTE PAYMENTS shall inform the User of the ability to use the payment instrument and of the reasons imposing this action in the agreed manner, if possible, before the ability of using the payment instrument is suspended, and at the latest immediately after, unless this information is contrary to objectively justified security reasons or forbidden by the applicable Union or national legislation. If the reasons for the suspension of the ability of using the payment instrument cease to exist, COSMOTE PAYMENTS shall proceed to either the removal of such suspension or to the replacement of the existing payment instrument by a new one.

7.13 The User shall be entitled as payer, for the conduct of payment acts, to use the payment initiation services by payment initiation service providers. In this case, COSMOTE PAYMENTS (a) shall securely contact the payment initiation service providers according to Commission Delegated Regulation (EU) 2018/389 and (b) immediately after the receipt of the payment order by the payment initiation service provider shall provide and make available to the latter all information regarding the initiation of the payment act and all information to which it has access for the execution of the payment act, (c) shall treat without any discrimination the payment orders transmitted through the payment initiation service provider, unless this is justified for objective reasons, especially regarding timing, prioritization or charges in relation to the payment orders directly transmitted by the User.

7.14 The User shall be entitled to use the account information services allowing access to Ε-Wallet information. In this case COSMOTE PAYMENTS (a) shall securely contact the account information service providers according to Commission Delegated Regulation (EU) 2018/389 and (b) shall treat without any discrimination the requests transmitted through the account information service provider unless this is justified for objective reasons.

7.15 COSMOTE PAYMENTS may refuse to an account information service provider or a payment initiation service provider access to the User’s E-Wallet, for objectively justified and duly documented reasons related to unauthorized or fraudulent access to E-Wallet, including unauthorized or fraudulent initiation of the payment act, either by the account information service provider or by the payment initiation service provider. In these cases, COSMOTE PAYMENTS shall inform the User of the refusal of access to E-Wallet and of the reasons imposing such action, through the electronic profile of the account and/or by other appropriate electronic means at its discretion, if possible, prior to the refusal of access and, at the latest, immediately after, unless such information is contrary to objectively justified security reasons or it is forbidden by the applicable European or national legislation. If the reasons for the refusal cease to exist according to the above, COSMOTE PAYMENTS shall allow access to E-Wallet. COSMOTE PAYMENTS as account service payment service provider shall immediately report to the Bank of Greece the incident related to the account information service provider or the payment initiation service provider, since its registered office is in Greece.

8.PERSONAL DATA – PRIVACY

COSMOTE PAYMENTS, for execution purposes shall process, as Controller, the personal data of the Users in accordance with the applicable European and national legislative framework from time to time. The respective information of the users on COSMOTE PAYMENTS Personal Data Protection is available on its website cosmotepayments.gr .

9.DISPUTE RESOLUTION – GOVERNING LAW

9.1 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 arising from this agreement shall be subject to the competent Courts of the User’s residence or registered office, or where the agreement between the User and the COSMOTE PAYMENTS has been concluded.

9.2 Without prejudice to the responsibilities of the Bank of Greece, as determined specifically in Law 4537/2018, ensuring and monitoring effective compliance of COSMOTE PAYMENTS with the requirements of the applicable legislation (Law 4537/2018) in the framework hereof shall be conducted by the competent authority, that is, the Secretariat-General of Commerce and Consumer Protection of the Ministry of Economy and Development.

9.3 Every User reserves the right to file a complaint to the Secretariat-General of Commerce and Consumer Protection regarding allegations on violations hereof by COSMOTE PAYMENTS.

9.4 The User, for any issue or dispute, may refer to COSMOTE PAYMENTS, by sending an e-mail to the email address complaints@cosmotepayments.gr or by filling in the corresponding form, a template of which is available at the electronic address cosmotepayments.gr or by sending a respective letter at the address 99 Kifissias Avenue, 151 24 Maroussi, Attica, Greece. Every User may file a complaint directly to COSMOTE PAYMENTS, which shall make every effort to respond in paper or electronic form —depending on the way that the User wishes— to the User within fifteen (15) business days from the receipt of the complaint. In exceptional circumstances, if the response cannot be given within the above deadline, for reasons not due to COSMOTE PAYMENTS, a temporary response shall be sent to the User clearly indicating the reasons for the delay in the response to the complaint and determining the deadline within which they will receive the final response. In any case, the deadline for the receipt of the definitive answer may not exceed thirty-five (35) business days from the receipt of the complaint.

9.5 Excluding micro-enterprises, for 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 (Graurheindorfer Str. 108, 53117 Bonn, phone +49 228 4108-0, fax +49 228 4108-62299, e-mail schlichtungsstelle@bafin.de , website www.bafin.de ).

The Users can be informed on 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, following the link Alternative consumer dispute resolution (www.gov.gr/en/) .

The Users, for any dispute that arises from the online agreement, can use the Online Dispute Resolution platform of the European Commission which can be found here ec.europa.eu/consumers/odr/main/ .

10.TERM AND TERMINATION

10.1 The term of the agreement is agreed as indefinite with start on the date of acceptance of the Terms and shall end by termination according to the terms of this Clause 10.

10.2 Any User or COSMOTE PAYMENTS shall be entitled to terminate in writing this agreement, without reason, under the condition of prior notice to their counterparty, on the one hand, the User at least thirty (30) days in advance, and, on the other hand, COSMOTE PAYMENTS at least two (2) months in advance, subject to paragraph 10.3. In case of termination on behalf of the User, the termination hereof shall not entail penalty for the User.

10.3 In case of violation of these Terms or of the applicable legislation by any User or COSMOTE PAYMENTS, the counterparty of the violating party, as the case may be, shall be entitled to terminate the agreement. In case of termination of these terms due to their violation by the User, COSMOTE PAYMENTS may impose a charge for the closure of the payment account, which will be determined at cosmotepayments.gr ). Correspondingly each of the parties shall be entitled to terminate this agreement for good reason with immediate effect, that is, without prior notice being required. Explicitly, but indicatively and not restrictively, the following are agreed as good reasons that justify termination or deactivation of E-Wallet according to Clause 10.5, that is, the suspension of E-Wallet for a period of six (6) months, bankruptcy, placement under liquidation, placement under special administration and, in general, the dissolution or cessation of operation of the Business of any of the parties for any reason, the suspicion of violation by the User of the legislative and regulatory provisions on prevention and combating money laundering and terrorist financing, as applicable from time to time. In this case:

10.3.1 The terminating party shall be entitled to set, at its absolute discretion, a deadline for compliance.

10.3.2 The effects of termination shall occur according to Clause 10.2 above, unless otherwise determined by legislative or regulatory provisions and/or decisions of competent administrative, judicial, or other authorities.

10.4 As a result of termination and unless otherwise determined by legislative or regulatory provisions and/or decision of competent administrative, judicial, or other authorities:

10.4.1 COSMOTE PAYMENTS shall interrupt the provision of Services to the User and shall limit access to the information of the User’s profile for reasons of retrieval of history of movements, without the right to execute any Transaction except for Redemption Transaction of the Available Balance.

10.4.2 The operation of E-Wallet shall be finally suspended retaining as its sole operation the ability of redemption of the Available Balance, and after the redemption of which, it shall be permanently closed.

10.4.3 The User shall not be entitled to use the Services. Their access to their E-Wallet, as well as its operation shall be limited by COSMOTE PAYMENTS, which shall systemically inform them, as the case may be, regarding the permitted actions.

10.4.4 The User:

a) shall cease using any material, digital or electronic, granted to them in the form of loan, concession of use and, in general, without its ownership having been transferred to them, for the facilitation of the execution of transaction, which, in each case, shall be deactivated and must be returned by them to COSMOTE PAYMENTS;

b) must provide the minimum required access to their facilities and cooperate with COSMOTE PAYMENTS so that the procedure of termination of cooperation is completed smoothly;

c) return to COSMOTE PAYMENTS any material that has been delivered to them, in any form it is integrated (in paper, electronic or magnetic medium);

d) must cease the use of trademarks and distinctive characteristics of COSMOTE PAYMENTS and/or of its licensors to the extent that this has been allowed to them due to the type of Transactions they conducted.

10.4.5 Any Repeated Transaction or credit (e.g. instalments, standing orders) of E-Wallet and of the Payment Instruments connected with it for which the User has given a Repeated Transaction Order shall be interrupted and the User shall be responsible to ensure their timely payment by other means.

10.5 The electronic money saved in the User’s E-Wallet shall remain valid without limitation, unless otherwise provided for by legislative and regulatory provisions and/or decisions of competent administrative, judicial, or other authorities. If any User has not conducted Transactions using their E-Wallet for a period of more than twelve (12) months, COSMOTE PAYMENTS reserves the right to permanently deactivate E-Wallet and any COSMOTE PAYMENTS payment instruments that may be connected with it. In this case, but also in the case where after the occurrence of the effects of termination, the User has not proceeded to redemption of the equivalent amount of their Available Balance for a period of more than one (1) year from the termination, COSMOTE PAYMENTS reserves the right to deposit the equivalent amount of the monetary value of the Available Balance to the Payment Account that has been communicated to COSMOTE PAYMENTS by the User or the Authenticated Payment Card.

10.6 In case of occurrence of the effects of termination, the E-Wallet of the User shall remain partly active until any pending Transactions, including Reimbursements from and to the User and charges of COSMOTE PAYMENTS, are settled and paid, unless otherwise provided for by legislative and regulatory provisions and/or decisions of competent administrative, judicial, or other authorities. In addition, in case checks, challenges, demands, or claims of COSMOTE PAYMENTS or third parties are pending against the User, the User shall remain liable for them after the termination of the agreement, as well, both during the suspension of operation of the E-Wallet and after its permanent closure.

11.AMENDMENT TO THE TERMS

11.1 COSMOTE PAYMENTS reserves the right to unilaterally amend the Terms, including the Charges of the Services. The Users shall have access to the applicable Terms published on the website of COSMOTE PAYMENTS cosmotepayments.gr . The Users are recommended to visit regularly the website where the Terms are published and get informed.

11.2 The amendment to the Terms shall be notified to the User in print form or on a durable medium, such as e-mail, notification on their personal account on the Application.

11.3 Any amendment to the Terms shall apply after two (2) months from its notification, unless such amendment is made in compliance with provisions of the applicable legislation, a judicial or administrative decision or connected with the provision of new services or new abilities of existing services.

11.4 In case the User does not accept the proposed amendment from time to time, they may proceed, without penalty, to the termination of the agreement until the date of application of the amended terms, otherwise it shall be assumed that they have unreservedly accepted the amended Terms. In this case, the corresponding Terms on the effects of termination shall apply.

11.5 Changes in exchange rates may be applied immediately and without notification, if such changes are based on interest rates of reference exchange rates that have been agreed in the previous general information and, in any case, if this is specifically provided for in the individual relative agreements of the User. However, the changes in exchange rates which are more favourable for the User may be applied without notice.

12.LIABILITY

12.1 Every User shall be liable towards COSMOTE PAYMENTS and towards any third party, being obliged to relevant compensation for any charge, fines, fees, reimbursements incurred by COSMOTE PAYMENTS on the occasion of use of its Services, or non-compliance, violation of the Terms and/or of the instructions provided systemically or otherwise by COSMOTE PAYMENTS for the completion of the Services by the User.

12.2 For any amount owed to COSMOTE PAYMENTS by the User for any reason and on the occasion of this agreement, COSMOTE PAYMENTS shall be entitled to charge the equivalent amount to the User’s E-Wallet , whenever it becomes payable, reducing correspondingly the Available Balance.

12.3 In case the Available Balance is not sufficient for the payment of an amount due to COSMOTE PAYMENTS, the User’s E-Wallet shall be debited immediately with such amount and as soon as there is an Available Balance, such amount will be paid preferentially to COSMOTE PAYMENTS towards any other payment order or debit that may be pending.

12.4 The monetary equivalent amount of the Available Balance, as well as any amount paid from the User to COSMOTE PAYMENTS as value for the issue of electronic money shall not constitute deposit or other repayable funds received from the public according to the meaning of Article 9 of Law 4261/14 (legislation for the access to the activity of credit institutions and prudential supervision), unless otherwise explicitly set out by the applicable legislation. In addition, the issue of electronic money itself shall not constitute acceptance of deposits, money or other repayable funds and the allocation of interest or other benefit related to the period during which the User holds electronic money, shall not be allowed.

12.5 COSMOTE PAYMENTS shall bear no liability towards the User, the respective payer, the holder of Payment Instruments and/or any third party to the extent that the successful, timely, appropriate transmission of any details in the framework of a Transaction depends on the good and/or continuous operation of electronic communication networks and/or infrastructures and/or applications that belong or are managed by the electronic communication network and service providers.

12.6 COSMOTE PAYMENTS shall not be liable towards the User if there are reasons of force majeure or other unusual or unforeseeable circumstances, as well as in the cases where it is bound by obligations arising from the applicable European or national legislative framework from time to time.

As force majeure events, as well as unusual and unforeseeable circumstances, shall be considered all incidents or events that (a) do not fall under the responsibility of COSMOTE PAYMENTS, (b) cannot be attributed to its fault, (c) are beyond its control and (d) the consequences could not be avoided despite its efforts to the opposite. Indicatively, the following events shall constitute force majeure: War (either declared or not), unrest, sabotage, acts of terrorism, natural disasters, epidemics, earthquakes, explosions and fires, embargoes, strikes, acts of Greek, European or other Authorities.

12.7 COSMOTE PAYMENTS and/or any third party claiming from COSMOTE PAYMENTS the restoration of any damage or any compensation for any reason which is due to violation of the User’s obligations arising from these Terms, the instructions with which they must comply with and govern and apply to the provided COSMOTE PAYMENTS Services and/or of the applicable legislation that the Users must comply with, the User, following a written notification by COSMOTE PAYMENTS, shall be obliged to intervene in any opened trial or administrative procedure in favour of COSMOTE PAYMENTS, fully undertaking the liability attributable to them, acting also as procedural guarantor, if possible according to the applicable legislation, and compensating COSMOTE PAYMENTS both non-materially and materially for any damage it may have suffered, including any respective court costs and lawyer's fees.

13.SUSPENSION – SECURITY MEASURES – CORRECTIVE MEASURES

13.1 COSMOTE PAYMENTS has in place procedures for addressing cases of suspicion or actual commission of fraud or threat of security in general, both for individual incidents and for mass cases. It, also, reserves the right to suspend the operation of E-Wallet, as well as of any other Payment Instruments that may be connected with it, for reasons of security of their use and of the Transactions conducted by using them, suspicion of unauthorized or fraudulent use or in case of suspicion or actual commission of fraud or finding or reasonable assumption of significant increased risk of inability of the User to fulfil their obligations or in case of threat to security or exceeding the credit limit and/or for any other reason that may be provided for in these Terms. Assessment of these risks shall be conducted according to the objective judgement of COSMOTE PAYMENTS. In addition and according to the above procedures, COSMOTE PAYMENTS reserves the right to suspend the operation of the E-Wallet, as well as of any other Payment Instruments connected with it, for reasons imposed by provisions of the respective legislation or in compliance with the requirements of judicial or other law enforcement public authorities or for reasons determined by COSMOTE PAYMENTS at its absolute discretion, such as, indicatively and not restrictively, reasons connected with the trading profile of the customer or the non-compliance of the latter with the Verification and Authentication processes set by COSMOTE PAYMENTS based on regulations of the supervisory bodies on the application of due diligence measures or for reasons of non-compliance thereof with the instructions set by International Card organizations. As soon as the reasons for the suspension cease to exist, COSMOTE PAYMENTS shall proceed to either the removal of suspension or to replacement of the existing payment instrument with another, informing the User according to Clause 13.2.

13.2 COSMOTE PAYMENTS, in the above cases and in any other corresponding case, shall inform the User through the electronic profile of the User on E-Wallet and/or by any other appropriate electronic means (e.g. by e-mail, by phone, etc.) according to its judgement and, if possible, prior to the application of the suspension, otherwise, at the latest, immediately after its application, unless such information is contrary to objectively justified security reasons or forbidden by the applicable legislation. As soon as the reasons for suspension cease to exist, the suspension shall be removed, otherwise the Payment Instrument shall be replaced by another new one.

13.3 Further suspension cases are provided for in Clause 10. “TERM AND TERMINATION”

13.4 In case E-Wallet remains under suspension for a period of six (6) months, COSMOTE PAYMENTS reserves the right of termination hereof with immediate effect.

13.5 The User must use the payment instrument according to these terms, take all necessary measures and keep diligently the payment instruments provided by COSMOTE PAYMENTS, as well as any reasonable measure for the safe-keeping of their personalised security credentials and notify COSMOTE PAYMENTS, without undue delay, as soon as they take notice of theft, loss, misappropriation, use by a non-beneficiary or unauthorized use of the Payment Instrument, by contacting immediately or sending a message to complaints@cosmotepayments.gr .

13.6 If it is considered appropriate, it may be requested by the User to recognise/confirm the suspicious transaction. COSMOTE PAYMENTS shall not be obliged to inform the User prior to the suspension of use of the payment instrument if the provision of information is contrary to objective security reasons or is explicitly forbidden by the respective legislation and/or by instructions of the competent supervisory authorities. In this case, the User shall be informed immediately after. If COSMOTE PAYMENTS finds that a more secure means of communication is required, such means shall be notified on its website cosmotepayments.gr and/or by other means (e.g. message during the execution of the transaction).

14.NOT ACCEPTED TRANSACTIONS – NOT ACCEPTED USERS

COSMOTE PAYMENTS reserves the right to regularly notify transactions or activities that constitute not accepted transactions and, therefore, may not be completed using the Services and the payment instruments issued by COSMOTE PAYMENTS, the website of COSMOTE PAYMENTS and the applications and systems provided by it for the completion of the Services, as the case may be from time to time. COSMOTE PAYMENTS reserves the right of unjustified refusal of an application of registration of a User on its current website (if any) and/or of unjustified refusal of commencement of provision of its services based on objective criteria set by it at its absolute discretion.

II.TERMS OF ELECTRONIC MONEY AND PAYMENT SERVICESFOR CONSUMERS/MICRO-ENTERPRISES

COSMOTE PAYMENTS shall provide Electronic Money Issuing and Redemption Services and Payment Services using electronic money issued by it and/or other payment instruments issued by it and/or third payment service providers.

1.ELECTRONIC MONEY ISSUING AND REDEMPTION SERVICES

1.1 Issuing Services

1.1.1 COSMOTE PAYMENTS shall proceed to the issuance of electronic money upon request of the User. The issuance shall be conducted in execution of a Cash-in Transaction.

1.1.2 Every User can make Cash-in Transactions and credit E-Wallet with electronic money of equivalent value to the amount paid to COSMOTE PAYMENTS for this purpose.

1.1.3 The payment of equivalent amount in the framework of the Cash-in Transaction shall consist of and be conducted:

a) by deposit to COSMOTE PAYMENTS bank account following a specific procedure indicated to them systemically (e-banking);

b) by debit of an Authenticated Payment Card following the procedure indicated to them systemically (excluding VISA Payment Cards issued by institutions in countries subject to economic sanctions or international surveillance regime or subject to restrictive financial transaction conditions or considered high risk according to International Organizations);

1.1.4 As a result of the successful completion of a Cash-in Transaction, the User’s Ε-Wallet shall be credited with electronic money of equivalent value to the amount deposited to COSMOTE PAYMENTS for this purpose, which is issued by COSMOTE PAYMENTS

1.2 Redemption Services

1.2.1 Every User, under the condition of prior authentication thereof according to the Verification and Authentication Process, may conduct at any time Redemption Transactions and request and draw part or all the Available Balance of E-Wallet in the equivalent amount.

1.2.2 The drawing of the electronic money amount requested for redemption in the framework of a Redemption Transaction shall consist of and be conducted:

a) by transfer of the requested amount from E-Wallet to a declared Payment Account;

b) by credit by COSMOTE PAYMENTS of the requested amount to a declared Payment Card;

c) through cash withdrawal from the ATM network of banks , if there is such ability.

1.2.3 As a result of the successful completion of a Redemption Transaction, the Available Balance of the User’s E-Wallet shall be reduced by an equivalent amount to the amount collected upon completion of the Redemption Transaction and any expenses charged to this Transaction and any other required for its completion.

1.3 Issuing and Redemption Services Cost

1.3.1 COSMOTE PAYMENTS shall be entitled to charge the User for the Issuing Services with the charges included on its applicable tariff from time to time, which is posted on its website (cosmotepayments.gr). The Users are recommended to visit regularly the above website.

1.3.2 COSMOTE PAYMENTS reserves the right to charge the User for the Redemption Services, the charges for which are included on the above price list under the condition that the User requests the redemption prior to the termination of this agreement, otherwise when the redemption is requested after the elapse of at least one (1) year from the termination of this agreement. In any such case, the charges shall correspond to the cost.

1.4 COSMOTE PAYMENTS may abolish, amend, and introduce new methods of completion of Cash-in and Redemption Transactions, notifying them to the Users through its website, their E-Wallet profile and/or by e-mail.

1.5 COSMOTE Payments applies the Verification of Payee (hereinafter “VoP”), in the context of a Redemption Transaction involving the transfer of the requested amount from the E-Wallet to a designated Payment Account, as referred to in section 1.2.2 (a) above.

1.5.1 In accordance with European legislation [in particular Regulation (EU) 2024/886, as in force] and the requirements of the Verification of Payee (VoP) scheme of the European Payments Council (EPC), COSMOTE Payments, acting as a Payment Service Provider (“PSP”) on behalf of the Payer or the Beneficiary of a SEPA Credit Transfer, performs, according to the procedure referred in these terms, a Verification check between the name, surname, and Payment Account (IBAN) of the Beneficiary of the aforementioned transfer, as entered by the Payer. Where COSMOTE Payments acts as the PSP of the Payer, the Payer is informed of the outcome of this check before execution of the credit transfer, with the aim of reducing the risk of payments to an unintended Beneficiary, reducing fraud, and generally enhancing transaction security. Where COSMOTE Payments acts as the PSP of the Beneficiary, informs the PSP of the Payer regarding the outcome of the check.

1.5.2 Process (COSMOTE Payments as PSP of the Payer):

After the Payer enters the Beneficiary’s Payment Account (IBAN), first name and surname, COSMOTE Payments, acting as the Payer’s PSP, sends a Verification request to the Beneficiary’s PSP. The outcome of the Verification check is communicated to the Payer in real time and before completion of the credit transfer, as one of the following cases:

- Match: exact matching and successful verification of the Beneficiary and the Beneficiary’s Payment Account (IBAN). 
- Close Match: verification is sufficiently similar but not exact. The full name of the Beneficiary, as received from the Beneficiary’s PSP, is displayed. 
- No Match: no verification. The Beneficiary’s name and surname do not correspond to the holder of the Payment Account (IBAN). 
- Verification not possible: the service is unavailable, or not supported by the Beneficiary’s PSP, or the verification cannot be performed due to technical issues. 

The VoP result is displayed in the E-Wallet of the Payer prior to confirming the credit transfer, in real time.

Based on the VoP outcome, the Payer is informed through an informational message, in order to decide whether to proceed or cancel the credit transfer. 

When the Payment Account is held jointly by multiple Beneficiaries, the VoP check confirms whether the Beneficiary indicated is among the multiple Beneficiaries, and the respective result is returned.

1.5.3 User Options:

The process described above is for informational purposes only and does not affect the Payer’s ability to execute the transaction, regardless of the VoP outcome, i.e. even in cases of “Close Match” or “No Match”. In such cases, there is a risk that the credit transfer may be executed to a Payment Account not held by the Beneficiary indicated by the Payer. In such cases, the liability limitations of COSMOTE Payments set out in section 1.5.5 shall apply.

1.5.4 Service Availability

The VoP service is available on a continuous basis (24/7), except during scheduled maintenance periods or unforeseen technical issues outside the control of COSMOTE Payments.

1.5.5 Limitation of Liability

COSMOTE Payments cannot be held responsible for the execution of a credit transfer to an incorrect Beneficiary due to an erroneous Payment Account (IBAN), provided that the process described in these Terms has been duly followed.

Furthermore, COSMOTE Payments shall not be liable for any financial losses, claims, or disputes that may arise in the cases of technical issues or unavailability of third-party systems occur, which are outside the control of COSMOTE Payments.

COSMOTE Payments provides the VoP service on the basis of information received from third-party PSPs and shall not be liable for any errors, delays, interruptions, or inaccuracies that may arise.

1.5.6 Service Modifications

COSMOTE Payments reserves the right to amend these Terms and Conditions at any time as deemed necessary, in order to comply with changes in the applicable legislation, the requirements of the VoP scheme of the EPC, and/or its respective operational and regulatory policies.

2.PAYMENT SERVICES

2.1 Payment Services provided by COSMOTE PAYMENTS consist of the conduct of payment acts which may be Collection Transactions and/or Payment Transactions using electronic money, the completion of provision of which may include the issuance of electronic money by COSMOTE PAYMENTS.

2.1.1 Collection Transactions consist of

a) the collection by the User as Beneficiary of amounts paid to them by third parties for any legal cause and the credit of the specific User’s E-Wallet with electronic money of equivalent value to the value of the respective Payment to it, settled regarding any Transaction expenses;

b) transfer of electronic money from an E-Wallet to another Payment Account.

2.1.2 Regarding Payment Transactions

a) they consist of the payment by the User as Payer of the amount due for any legal cause to third parties through E-Wallet and the Payment Instruments connected with it;

b) the relevant payment is made by using the COSMOTE PAYMENTS Payment Services, debit of the User’s E-Wallet and corresponding debit and reduction of the Available Balance of this account by the amount of the respective Payment, charged with any Transaction expenses;

c) its completion presupposes the existence of a sufficient Available Balance at the time of its execution.

2.1.3 COSMOTE PAYMENTS shall be entitled to deduct its total charges regarding the provision of the Service from the respective amount for Payment before it is credited to the Beneficiary of a Payment.

3.TRANSACTION LIMITS

3.1 COSMOTE PAYMENTS reserves the right to impose financial limits to all kinds of Transactions and change them unilaterally, aiming to the security of Transactions and the prevention and combating of money laundering and terrorist financing. In addition, for the same reasons, and for ensuring business activity, it may adjust and impose financial or other kind of limits to Users, as the case may be. The applicable limits per type of Transaction or type of User shall be published on the Application of the User.

3.2 Any Transaction requested by the User, the completion of which would result to any applicable limit being exceeded, shall be rejected.

4.REIMBURSEMENTS

4.1 In case COSMOTE PAYMENTS takes notice of any challenge of a Collection Transaction for any reason (e.g. as unauthorized, revoked, incorrect) by a payer or Payment Service Provider or entity, institution or organization cooperating with it for the purpose of execution of the Transaction, in execution of which the E-Wallet of the User was credited, the User must pay to COSMOTE PAYMENTS the equivalent amount to the challenged Transaction within the next business day from the notification of the challenge or other deadline to be set by COSMOTE PAYMENTS at its discretion, and present to COSMOTE PAYMENTS, promptly and within the deadlines set at its discretion, all details and information required for the documentation of the conduct, authenticity, validity and correctness of the Transaction. For the Payment of the reimbursed amount, the User hereby explicitly and unreservedly authorizes COSMOTE PAYMENTS to proceed to the collection of the amount of the challenged Transaction by debit of the User’s Available Balance and drawing thereof for its Payment to the person requesting Reimbursement.

4.2 For the period from the notification to the User of the request of challenge of the Collection Transaction until the completion of the documentation process, the equivalent amount of the challenged Transaction may instead of being immediately collected, become, at the discretion of COSMOTE PAYMENTS, a Committed Amount and the Available Balance shall be reduced by the equivalent amount thereof.

4.3 After the end of the documentation process and if the amount has not already been paid by the User or collected by COSMOTE PAYMENTS:

4.3.1 In case COSMOTE PAYMENTS finds that the Transaction was adequately documented, the Committed Amount shall be released, credited, and increase the Available Balance at that time.

4.3.2 In case COSMOTE PAYMENTS finds that the User did not fulfil their above obligation in a satisfactory manner and/or the Transaction is not adequately documented based on the presented details and information, the Committed Amount shall be debited to the E-Wallet in order to be reimbursed to the Beneficiary Payer that challenged the Transaction, while the E-Wallet Balance shall be correspondingly reduced.

4.4 If the User has not proceeded to the payment of the equivalent amount of the challenged Transaction and the Available Balance is not sufficient for the coverage of the Committed Amount for this reason or for any reason, any subsequent credit of E-Wallet shall be used for the coverage of the Committed Amount increasing the Balance instead of the Available Balance until its full coverage. This process shall not exclude the pursue of collection of the amount of the challenged Transaction by other judicial and out-of-court means by COSMOTE PAYMENTS.

4.5 In case of request of Reimbursement of a Transaction amount by the User due to cancellation or withdrawal from the Transaction, the above procedure shall apply accordingly. In the above framework, COSMOTE PAYMENTS may request all details and information documenting the cancellation or withdrawal from the Transaction according to the applicable provisions, contractual and legislative, both by the Payer and the Beneficiary.

4.6 The parties agree that only the notification addressed by COSMOTE PAYMENTS to the User on Reimbursement of a paid amount for the reasons provided for in the Terms shall constitute full evidence of their debt to COSMOTE PAYMENTS and of their obligation of Reimbursement of the already paid amount. In addition, it is agreed that the excerpt of commercial books kept by COSMOTE PAYMENTS, which may also be kept electronically, which include the relevant entries, shall constitute full evidence of the User’s debt of to COSMOTE PAYMENTS, which shall be sufficient for the fulfilment of the conditions for issuance of an order for Payment.

4.7 Reimbursement of amounts for Payment Acts initiated by the Beneficiary or through them

4.7.1 The Payer shall be entitled to request from COSMOTE PAYMENTS, as the respective Payment Service Provider, the Reimbursement of amounts concerning an authorized Payment Act, which was initiated by the Beneficiary or through them and has already been executed, if the following conditions are cumulatively fulfilled:

a) at the time of the approval, the exact amount of the Payment Act was not determined;

b) the amount of the Payment Act exceeds the amount reasonably expected by the Payer, considering their previous habits of expenses, the terms of the Framework Agreement and the relevant circumstances of the case.

Following a request of the Payment Service Provider, the Payer shall bear the burden of proof of fulfilment of the above terms. The obligation of Reimbursement of amounts shall concern the entire amount of the executed Transaction. The value date for the credit of the Payer’s Payment account shall not be subsequent to the date of debit of the Payment Account with the amount of the Payment Act. Subject to Clause 4.7.3, the Payer shall reserve, in addition to the right determined in this paragraph for Direct Debits, according to the meaning of Article 1 of Regulation (EU) No 260/2012, an unreserved right of Reimbursement of amounts within the time limits of Article 4.8.

4.7.2 However, for the purposes of case (b) of Clause 4.7.1, the Payer shall not be entitled to rely on reasons connected with the conversion of foreign currency, if the reference exchange rate, agreed with COSMOTE PAYMENTS as relevant Payment Service Provider, was applied according to the applicable legislation.

4.7.3 The Payer shall not be entitled to request the Reimbursement of amounts if:

a) the Payer has given their consent for the execution of the Payment Act directly to COSMOTE PAYMENTS; and

b) as the case may be, the information on the future Payment Act has been provided or made available to the Payer, in the agreed manner, at least four (4) weeks before the Payment date either by COSMOTE PAYMENTS or by the Beneficiary.

4.8 Request for Reimbursement of amounts for Payment Acts initiated by the Beneficiary or through them

4.8.1 The Payer may submit a request for Reimbursement of amounts, according to Clause 4.7, which concerns an authorized Payment Act initiated by the Beneficiary or through them, within a deadline of eight (8) weeks from the date of debit of their Payment Account with the corresponding amounts.

4.8.2 Within a deadline of ten (10) business days from the date of receipt of the request for Reimbursement of amounts, the Payment Service Provider shall be obliged either to reimburse the entire amount of the Payment Act or to justify their refusal to respond to the request for Reimbursement of amounts, indicating to the Payer the entities to which they can refer to, if the Payer does not accept the justification provided by COSMOTE PAYMENTS. The right of the Payment Service Provider to refuse the Reimbursement of amounts according to the first subparagraph of this paragraph shall not exist in the case of the last subparagraph of Clause 4.7.1.

4.9 Liability of Payment Service Provider for non-execution, incorrect or delayed execution of Payment Acts

4.9.1 a) Subject to

(i)  Clause 7, or 

(ii) where the exclusive Authentication means provided by the Payment Service User is incorrect, and, nevertheless, the Payment Service Provider makes reasonable efforts to recover the amount concerning the Payment Act, cooperating with COSMOTE PAYMENTS, which shall provide it with all relevant information for the recovery of the amounts of money, while if the recovery of the amounts is not possible, the Payment Service Provider of the Payer shall present to the Payer, upon their written request, all important information for the Payer available to it, in order to assert a claim for the recovery of the amount; or 

(iii)  the cases where there are unusual and unforeseen circumstances, which are beyond the control of the party relying on them and the consequences of which could not be avoided despite the efforts to the opposite, even when the Payment Service Provider is bound by other legal obligations provided for in the European Union or national law;

when the Payment Order is initiated directly by the Payer, the Payment Service Provider of the Payer shall be liable towards the Payer for the correct execution of the Payment Act, unless they prove to the Payer, and, as the case may be, to the Payment Service Provider of the Beneficiary, that the Payment Service Provider of the Beneficiary received the amount of the Payment Act according to the applicable legislation from time to time. In this case, the Payment Service Provider of the Beneficiary shall be liable towards the Beneficiary for the correct execution of the execution act.

b) If the Payment Service Provider of the Payer is liable according to case (a), it shall reimburse without undue delay to the Payer the amounts of the non-executed or incorrect Payment Act and, as the case may be, shall restore the debited Payment Account to the previous situation.

c) The value date for the credit of the Payment Account of the Payer may not be subsequent to the date of debit of the amount of the Payment Act.

d) If the Payment Service Provider of the Beneficiary is liable according to case (a), it shall immediately make available to the Beneficiary the amount of the Payment Act and, as the case may be, shall credit the corresponding amount to the Payment Account of the Beneficiary.

e) The value date for the credit of the Payment Account of the Beneficiary may not be subsequent to the value date of credit of the amount to the respective Payment Account in case of correct execution of the Payment Act, according to those mentioned in the applicable legislation.

f) If the Payment Act is executed with delay, the Payment Service Provider shall ensure, following a request by the Payment Service Provider of the Payer acting on behalf of the Payer, that the value date for the credit of the Payment Account of the Beneficiary is not subsequent to the Value Date of credit of the amount to the respective Payment Account in case of correct execution of the Payment Act.

g) If the Payment Order is initiated by the Payer and the Payment Act is not executed or is executed incorrectly, the Payment Service Provider of the Payer, following a request and regardless of liability in the framework of this paragraph, shall immediately try to detect the Payment Act and inform the Payer of the result. In this case, no charge shall be imposed on the Payer.

4.9.2 a) When a Payment Order is initiated by the Beneficiary or through it, the Payment Service Provider of the Beneficiary, subject to cases (i), (ii) and (iii) of Clause 4.9.1(a), shall be liable towards the Beneficiary for the correct transmission of the Payment Order to the Payment Service Provider of the Payer, according to the applicable legislation. If the Payment Service Provider is liable, according to the previous subparagraph, it shall retransmit immediately such Payment Order to the Payment Service Provider of the Payer.

b) If the Payment Order is transmitted with delay, the amount will have value date in the Payment Account of the Beneficiary not subsequent to the Value Date of credit of the amount as if the Payment Act had been executed correctly.

c) Subject to cases (i), (ii) and (iii) of Clause 4.9.1(a), the Payment Service Provider of the Beneficiary shall be liable towards the Beneficiary for the handling of the Payment Act, according to the obligations it has according to the applicable legislation. If the Payment Service Provider is liable, according to this case, shall ensure that the amount of the Payment Act is made available to the Beneficiary immediately after it is credited to the account of the Payment Service Provider of the Beneficiary. The amount shall have Value Date in the Payment Account of the Beneficiary not subsequent to the Value Date of credit of the amount as if the Payment Act had been executed correctly.

d) In case of non-execution or incorrect execution of a Payment Act for which the Payment Service Provider is not liable, according to cases (a) and (c), the Payment Service Provider of the Payer shall be liable towards the Payer. If the Payment Service Provider of the Payer is liable, it shall reimburse, as the case may be and without undue delay, to the Payer the amounts of the non-executed or incorrect Payment Act and shall restore the debited Payment Account to the previous situation. The Value Date for the credit of the Payment Account of the Payer may not be subsequent to the date of debit of the amount of the Payment Act.

e) The obligation of case (d) shall not apply for the Payment Service Provider of the Payer, if it proves that the Payment Service Provider of the Beneficiary has received the amount of the Payment Act, even if the Payment Act has been executed with minimum delay. In this case, the Payment Service Provider of the Beneficiary shall determine for the amount a Value Date in the Payment Account of the Beneficiary not subsequent to the Value Date of credit of the amount, as if the Payment Act had been executed correctly.

f) If the Payment Order is initiated by the Beneficiary or through them and the Payment Act is not executed or is executed incorrectly, the Payment Service Provider of the Beneficiary, following a request and regardless of liability in the framework of this paragraph, shall immediately try to detect the Payment Act and inform the Beneficiary of the result. In this case, no charge shall be imposed on the Beneficiary.

4.9.3 In addition, the Payment Service Providers shall be liable towards the respective Payment Service Users for any charges for which they are liable, as well as for interest charged to the Payment Service User due to the non-execution or incorrect, including delayed, execution of the Payment Act.

5.LIABILITY IN CASE OF PAYMENT INITIATION SERVICES FOR THE NON-EXECUTION, INCORRECT OR DELAYED EXECUTION OF PAYMENT ACTS

5.1 When a Payment Order is initiated by the Payer through a Payment Initiation Service Provider, the Account Service Payment Service Provider, subject to cases (i), (ii) and (iii) of of Clause 4.9.1 (a), shall return to the Payer the amounts of the non-executed or incorrect Payment Act and, if appropriate, shall restore the debited Payment Account to its previous situation. The Payment Initiation Service Provider shall bear the burden of proof that the Payment Order has been received by the Account Service Payment Service Provider of the Payer according to those set out in the General Terms in Clause 5.3 (Consent Time of Receipt – Execution of Payment Orders & Irrevocable Orders), that, within its competence, the authenticity of the Payment Act has been certified and that it has been accurately recorded and has not been affected by any technical failure or other malfunction connected with the non-execution, incorrect or delayed execution of the Transaction.

5.2 If the Payment Initiation Service Provider is responsible for the non-execution, incorrect or delayed execution of the Payment Act, it shall compensate immediately, upon relevant request, the Account Service Payment Service Provider for any damages it has suffered or amount it has paid as result of the Reimbursement to the Payer.

6.NOTIFICATION AND RESTORATION OF PAYMENT ACTS THAT HAVE NOT BEEN AUTHORIZED OR EXECUTED CORRECTLY

6.1 The Payment Service Provider shall restore a unauthorized or incorrectly executed Payment Act to the Payment Service User, only if the latter notifies without undue delay the Payment Service Provider as soon as they take notice of any such Payment Act that establishes a claim for compensation, including this of Clause 13 of the General Terms, and at the latest within a period of thirteen (13) months from the date of debit. The above deadline shall not apply if the Payment Service Provider has not provided nor made available the information on the specific Payment Act, according to those set out in the applicable legislation.

6.2 If a Payment Initiation Service Provider participates in the Payment Act, the Account Service Payment Service Provider shall compensate the Payment Service User according to the above Clause 6.1, subject to the provisions of Clause 8.2 and Clause 4.9.1.

7.DETAILS THAT DOCUMENT THE AUTHENTICITY AND EXECUTION OF PAYMENT ACTS

7.1 If the Payment Service User denies that they have approved an executed Payment Act or claims that the Payment Act was executed incorrectly, COSMOTE PAYMENTS, as the respective Payment Service Provider, must prove that the authenticity of the Payment Act has been certified and that the Payment Act has been recorded accurately, has been registered in Payment Accounts and was not affected by a technical failure or other malfunction of the service provided by the Payment Service Provider. If the initiation of the Payment Act is conducted through a Payment Initiation Service Provider, the latter shall bear the burden to prove that, within its competence, the authenticity of the Payment Act has been certified, has been recorded accurately and was not affected by a technical failure or other malfunction connected with the Payment Service entrusted to it.

7.2 If a Payment Service User denies that they have approved an executed Payment Act, the use of a payment instrument recorded by the Payment Service Provider, including the Payment Initiation Service Provider, as the case may be, shall not constitute compulsorily, in itself, adequate proof that the Payer had approved the Payment Act or that they acted by intention or had not fulfilled by intention or gross negligence one or more of the obligations of Clause 3.2 and Clause 13.5 of the General Terms. The Payment Service Provider, including, as the case may be, the Payment Initiation Service Provider, must provide evidence to prove fraud or gross negligence on the part of the Payment Service User.

8.LIABILITY OF THE PAYMENT SERVICE PROVIDER FOR UNAUTHORIZED PAYMENT ACTS

8.1 Subject to Clause 6, in case of an unauthorized Payment Act, the Payment Service Provider of the Payer, after detection or notification, shall reimburse promptly and in any case, no later than the end of the following business day, to the Payer the amount of the unauthorized Payment Act, unless the Payment Service Provider of the Payer has reasonable suspicions that fraud has been committed and shall notify such reasons to the Secretariat-General for Commerce and Consumer Protection. If there is such a case, the Payment Service Provider of the Payer shall restore the debited Payment Account to its previous situation and shall ensure that the Value Date for the credit of the Payment Account of the Payer is not subsequent to the time of debit of such Payment Account with the amount of the Payment Act.

8.2 If the Payment Act has been initiated through a Payment Initiation Service Provider, the Account Service Payment Service Provider shall reimburse, immediately and in any case no later until the end of the next business day, to the Payer the amount of the unauthorized Payment Act, and, as the case may be, shall restore the debited Payment Account to its previous situation. If the Payment Initiation Service Provider is responsible for the unauthorized Payment Act, it shall immediately compensate the Account Service Payment Service Provider, upon request of the latter, for damages it has suffered or for amounts it has paid as a result of the reimbursement of the amount of an unauthorized Payment Act to the Payer, including the amount of the unauthorized Payment Act. According to Clause 5.1, the Payment Initiation Service Provider shall bear the burden of proof that, within its competence, the authenticity of the Payment Act has been certified and that is has been recorded accurately and was not affected by any technical failure or other malfunction connected with the Payment Service entrusted to it.

8.3 Further compensation shall not be excluded, if a relevant right is established in the law governing this Agreement.

9.LIABILITY OF THE PAYER FOR UNAUTHORIZED PAYMENT ACTS

9.1 By way of derogation from Clause 8, the Payer shall be liable up to the maximum amount of fifty (50) euros for the damages deriving from the conduct of unauthorized Payment Acts, which arise either from the use of a lost or stolen payment instrument or from its misappropriation. Such obligation shall not apply, if:

a) the loss, theft or misappropriation of the payment instrument was not possible to be detected by the Payer before the conduct of the Payment Act, unless the payer had acted fraudulently; or

b) the damage had been caused by acts or omissions of an employee, agent or branch of a Payment Service Provider or entity to which the Payment Service provided had entrusted its activities.

9.1.1 The Payer shall be liable for all damages related to any unauthorized Payment Act, if such damages are due to fraud or to the non-observance of one or more of the obligations they have according to Clause 13.5 and Clause 3.2 of the General Terms. In these cases, the maximum amount mentioned in the first clause of this paragraph does not apply.

9.1.2 If the Payer is a consumer and if the damages are due to gross negligence, the Payer shall be liable up to the maximum amount of one thousand (1,000) euros, taking into account in particular the nature of the personalized security credentials and the more special circumstances in which the means of payment was lost, stolen or embezzled.

9.1.3 The previous clause does not apply, if the Payment Service Provider proves that it has and implements additional, effective and more sophisticated transaction control mechanisms for the Strong User Authentication of Transactions, for Transactions that can cause damages of more than one thousand (1,000) euros, such as in particular control mechanisms utilizing artificial intelligence technologies or additional code or biometric identification or telephone confirmation.

9.2 If the Payment Service Provider of the Payer does not require Strong User Authentication, the Payer shall be liable for any financial consequences, only if they have acted fraudulently. If the Beneficiary or the Payment Service Provider of the Beneficiary is not able to accept Strong User Authentication, it shall be obliged to compensate the Payment Service Provider of the Payer for the financial damage it has suffered.

9.3 As of the time of notification of the Payment Service Provider, according to Article 13.5 of the General Terms, the Payer shall not bear any financial consequence arising from the use of a lost, stolen, or misappropriated payment instrument, unless they have acted fraudulently. If the Payment Service Provider does not provide the Payer with appropriate means enabling them to proceed at any time to notification regarding the loss, theft or misappropriation of the payment instrument or to submit a request for the removal of suspension of the ability to use the payment instrument, the Payer shall not be liable for the financial consequences arising from the use of such payment instrument, unless they have acted fraudulently.

10.OTHER TERMS

10.1 COSMOTE PAYMENTS may select and use at its discretion third persons, natural or legal, for the provision of Payment Services to the Users.

10.2 The Terms of use shall take precedence over any previous agreement and communication to the contrary, written, or oral, regarding the terms and conditions of Payment Services between the User and COSMOTE PAYMENTS.

10.3 Any invalidity of a clause shall not affect the validity of the other clauses.

11.SPECIAL PROVISIONS FOR PROFESSIONAL USERS

11.1 By way of derogation from Clause 4.7 and 4.8 of Chapter II on the authorized Payment Acts, the following are set out:

11.1.1 The Professional User is not entitled to reimbursement of amounts concerning an authorized Payment Act, which was initiated by a Beneficiary or through them and has already been executed.

11.1.2 The Professional User is not entitled to file to COSMOTE PAYMENTS a request for reimbursement of amounts concerning an authorized Payment Act, which was initiated by a Beneficiary or through them.

11.2 By way of derogation from Clause 9.1 of Chapter II on the unauthorized Payment Acts, the following are set out:

The Professional User has unlimited liability for damages related to the execution of unauthorized Payment Acts, which were made by a third party using a lost or stolen Card or leaked Code or personalized Card feature, which the Professional User did not safeguard, irrespective of whether or not these damages are due to fraud or failure to comply with their obligations.

11.3 By way of derogation from Clause 4.9.3 of Chapter II on the liability of the Payment Service Provider for non-execution, incorrect, or delayed execution of Payment Acts, the following are set out:

The Payment Service Provider is not liable for any charges, as well as for interest that burden the Professional Users due to the non-execution or incorrect, including delayed, execution of the Payment Act.

11.4 By way of derogation from Clause 7.1 of Chapter II on documenting the authenticity and execution of Payment Acts, the following are set out:

If the Professional User denies that they have approved an executed Payment Act or claims that the Payment Act was executed incorrectly, they shall bear the burden of proof as to the evidence documenting the authenticity and execution of the Payment Act.

11.5 By way of derogation of Clause 10.2 of Chapter I on the right to terminate without a reason, the following are set out:

The Professional Users or COSMOTE PAYMENTS are entitled to terminate this agreement in writing, without a reason, under the condition of prior notice to their counterparty, on the one hand, the User at least thirty (30) days in advance, and, on the other hand, COSMOTE PAYMENTS at least fifteen (15) days in advance, subject to Clause 10.3 of Chapter I.

11.6 By way of derogation from Clause 6.1 of Chapter II on notification and restoration of Payment Acts that have not been approved or have been executed incorrectly, the following are set out:

The Payment Service Provider restores unauthorized or incorrectly executed Payment Acts, only if the Professional User notifies without undue delay the Payment Service Provider as soon as they notice any such Payment Act giving rise to a compensation claim, no later than two (2) months from the charge date. The above deadline does not apply when the Payment Service Provider has neither provided nor rendered available the information on the specific Payment Act, as provided for by the applicable legislation.

1.APPENDIX A

Declaration of Withdrawal Template (for Consumers/Micro-Enterprises)

(complete and send this form only if you wish to withdraw from the Contract)

This form concerns remote contracts with natural persons acting for reasons that do not fall within their commercial, business, craft or independent professional activity.

To: COSMOTE PAYMENTS – ELECTRONIC MONEY SERVICES SINGLE-MEMBER S.A.

e-mail: complaints@cosmotepayments.gr

Address: 99 Kifissias Ave., 151 24 Maroussi, Attica, Greece

I hereby declare that I withdraw from the Service Contract with COSMOTE PAYMENTS – ELECTRONIC MONEY SERVICES SINGLE-MEMBER S.A. which was signed/concluded on: ../../….

Customer Information:

- Name: …………………………………………………………………………….

- Identity Card / Passport Number: ……………………………………………...

Please credit my IBAN ……………………………………………………………….. bank account at the 
Bank ……………………………… …………………………………………..., 
with the balance of my account with IBAN …………………………………………………… which I maintain at COSMOTE PAYMENTS, after settling any charges I have made to COSMOTE PAYMENTS corresponding to the Services I have received under this Contract.

Customer signature (only if this form is shared on paper)

Date

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