Framework User Contract

SİPAY FRAMEWORK (INDIVIDUAL) USER CONTRACT

1. PARTIES

This Sipay Framework (Individual) User Contract (“Contract”) has been concluded in accordance with the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions, between SiPay Elektronik Para ve Ödeme Hizmetleri A.Ş. (“SiPay”), residing at the address provided below in Küçükçamlıca Mah. Ord. Prof. Fahrettin Gökay Cad. No:49, 34696 Üsküdar/İstanbul and the user (“User”).

SİPAY Information

Mersis No     : 0771052810300001

KEP address    : sipayelektronik@hs06.kep.tr

E-mail address    : info@sipay.com.tr

Telephone number    : 0216 706 22 66

Trade Register and Registry number : İstanbul -166251-5

Website     : www.sipay.com.tr

Within the scope of this Contract, the User and SiPay will be jointly referred to as “Parties” and individually ad “Party”.

 

2. DEFINITIONS

In this Contract, the capitalized words shall have the following meanings.

Open Banking Service	Account Information Service and/or Payment Initiation Service
Activation	Refers to the process of making a Payment Instrument available for use by the User, following verification, as determined by the criteria set by SiPay.
Payee	Refers to a natural or legal person who is the intended recipient of a Fund which is the subject of a payment transaction.
Electronic Money	Refers to the monetary value issued in exchange for the Fund accepted by SiPay, stored electronically, used to execute payment transactions defined in the Law, and accepted as a Payment Instrument by the other natural and legal persons besides SiPay.
Electronic Money Service	Refers to the Electronic Money services listed in the Article 18 of the Law, which SiPay provides in accordance with the legislation and its operational permissions.
Fund	Refers to banknotes, coins, bank money or electronic money.
Conversion	Refers to the conversion of electronic money into banknotes, coins, scriptural money, or electronic money issued by another institution as a result of using or redeeming the Electronic Money.
Payer	Refers to a natural or legal person who Natural or legal person who gives a payment order either from his payment account or without having a payment account.
Sensitive User Data	Refers to personal data related to the Payment Instrument, such as password, security question, certificate, encryption key, PIN, card number, expiration date, CVV2, CVC2 codes, and User security information, which, if compromised or altered, could lead to fraud or counterfeit transactions in the issuance of Payment Orders or during identity verification.
Account Servicing Payment Service Provider (ASPSP)	Refers to the Payment Service Providers that hold the Payment Account accessed or transaction during the use of Open Banking Services by the User.
Services	Refers to Payment Service and Electronic Money Service.
Business Day	Refers to Monday, Tuesday, Wednesday, Thursday, and Friday, excluding public holidays or other holidays as per the laws of the Republic of Türkiye.
Law	Refers to the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services, and Electronic Money Institutions.
Card Storage Services	Refers to services provided by SiPay that allows the User to record credit and debit card information and use these recorded cards for payments through the services provided by SiPay.
Identity Information	Refers to any information to determine the identity of the User, including but not limited to the User’s name, surname, date of birth, place of birth, mother’s name, identity number, and identity document serial number.
Identity Authentication	Refers to the mechanism that assures any claimed identity information indeed belongs to the individual claiming it.
Personal Security Information	Refers to information such as passwords, expiration dates, security numbers, etc., that can be used while conducting transactions with a Payment Instrument, identifying the Payment Instrument’s User.
Identifier	Refers to the combination of numbers, letters, or symbols assigned to the User by SiPay for the purposes of identifying and distinguishing the User from others.
User	Refers to the natural person who opens a Payment Account with SiPay, benefits from the Services provided by SiPay and/or other services and is a party to this Contract.
User Security Information	Refers to customized information given by SiPay to the User or determined by the User and agreed upon with SiPay for the purpose of authentication.
Legislation	Refers to law, regulation, other relevant secondary regulations based on the Law, as well as laws, regulations and other legislations of the Republic of Türkiye that are directly applicable to this Contract and the Services provided by SiPay.
Payment Instrument	Refers to personal tools such as a card, mobile phone, QR code, password, etc., used by the User to issue a Payment Order.
Payment Order	An instruction given by the User to SiPay or another Payment Service Provider for the purpose of executing the payment transaction.
Payment Account	Refers to the account opened in the name of the User and used in the execution of the Payment Transaction.
Payment Service	Refers to each and/or all of the services specified in the Article 12 of the Law, provided by SiPay in accordance with the Legislation and its operational permissions.
Payment Service Provider / PSP	Refers to the banks within the scope of the Banking Law No. 5411, electronic money institutions, payment institutions and the Postal and Telegraph Corporation Joint Stock Company.
Payment Transaction	Refers to the act of depositing, transferring or withdrawing funds upon the order of payer or payee.
Platform	Refers to any kind of digital or physical platform, including the Application and Website, that enables the User to benefit from the Services.
CBRT	Central Bank of the Republic of Türkiye.
Representative	Refers to individuals acting on behalf of SiPay through its Services as per the Article 18 of the Regulation.
Application	Refers to the mobile application through which the User can benefit from Sipay’s Payment Services and Electronic Money Services. he execution of this Contract does not in any way guarantee that this application will be provided to the User.
Remote Communication Tool	Refers to any means or medium that allows the formation of contracts without the physical presence of the parties, such as application, letter, catalog, phone, fax, electronic mail message, internet, SMS services, etc.
Website	Refers to www.sipay.com.tr.
Regulation	Refers to the Regulation numbered 31676 on Payment Services and Electronic Money Issuance, and Payment Service Providers.
Law No. 5549	Refers to the law on Prevention of Laundering of Crime Revenues.
Law No. 6698	Refers to the law on Personal Data Protection.

 

 

3. INTRODUCTION AND SUBJECT OF THE CONTRACT

3.1.      The subject of this Contract is to determine the conditions under which the User can benefit from the Services provided by SiPay, and to regulate the rights and obligations of the Parties in this context. Following the approval date of the Contract, SiPay will provide the Payment Services to the User directly or through a Representative.

3.2.      This Contract shall enter into force upon its acceptance or signature by the User online or in writing, and the User accepts that the use of the Services provided by SiPay is subject to the terms and conditions set forth in this Contract and its annexes, if any.

3.3.      Subject to the User’s request, the Services that can be provided within the scope of this Agreement by SiPay, at its sole discretion, under the Law and the related Regulation are specified below. To avoid doubt, it should be noted that the scope, timing of provision, or whether the Services listed below will be provided are entirely at the discretion of SiPay; in this context, SiPay does not make any commitment that the relevant Services will be provided.

3.3.1.     All transactions required for the operation of the Payment Account, including services that allow depositing into and withdrawing from the Payment Account,

3.3.2.     The money transfer, including direct debit transactions involving the transfer of funds in the Payment Account held by the payment service user at the PSP, whether one-off or not, payment transactions made with a payment card or a similar instrument, including standing orders,

3.3.3.     Issuance or acceptance of the Payment Instrument,

3.3.4.     Issuance of Electronic Money,

3.3.5.     Payment initiation service provided in relation to a Payment Account held at another PSP, upon the request of the payment service user,

3.3.6.     Subject to obtaining the payment service user’s consent, the service of presenting consolidated information, on online platforms, regarding one or more Payment Accounts held by the payment service user at the PSP’s.

4. RIGHTS AND OBLIGATIONS OF THE PARTIES

4.1.      The User acknowledges and undertakes that they are competent to accept and enter into this Contract regarding the Services provided by SiPay, and that they have reached the age of 18 (eighteen) as of the acceptance date of this Contract. For Users under the age of 18 (eighteen), only the opening of an anonymous account can be made by SiPay without the consent of their legal representatives.

4.2.      The User accepts and undertakes to use the Services in accordance with the limits of the relevant Legislation and to immediately, accurately, up-to-date and fully provide the information and documents requested for the provision of the Services, otherwise acknowledging that they will not be able to benefit from the Services, and that all responsibility lies with them.

4.3.      SiPay may take various verification measures to ensure the accuracy and currency of the information provided by the User. The User accepts and declares that they shall be solely responsible for any kinds of  damages and liabilities arising from the inaccuracy or lack of clarity of the information provided, from failing to inform about the required timing for time-bound transactions, or from any errors in the transactions performed by SiPay due to these reasons.

4.4.      The User accepts and declares that they act on their own behalf and account, in the event they act on behalf of someone else and/or transfer their account with SiPay to a third party and/or change in the information regarding the identity verification, they will notify SiPay in accordance with the relevant Legislation, including the Law No. 5549, and will perform the actions requested by SiPay in this context. In case of violation of this clause, SiPay will not be responsible for any erroneous, unauthorized, or illegal transactions and may terminate or suspend this Contract without paying compensation.

4.5.      The User will not allow third parties to access the Payment Account to be created with SiPay, the Payment Instrument associated with the account, and the Sensitive User Data, and will be personally responsible for their security. In this context, the User agrees not to disclose, allow the use of, or use User Security Information, Personal Security Information, Identity Information, Sensitive User Data, and any other information that may jeopardize the security of the Services to third parties in any way, and to inform SiPay immediately if they notice that the Payment Instrument is used in benefiting from the Services by third parties or lost, even without their consent.

4.6.      Transactions carried out within the scope of the Services provided by SiPay will primarily use the Turkish Lira. It is possible to use foreign currency to the extent permitted by the Legislation and SiPay in cases where one of the Parties is abroad.

4.7.      For the payments where one of the parties is abroad, the regulations set out in the Decision No. 32 on the Protection of the Value of Turkish Currency enacted by the Council of Ministers’ decision dated 07.08.1989 and numbered 89/14391 regarding the currencies used by Users to perform Payment Services are fundamental.

4.8.      It is mandatory for the legal representatives to give consent using the methods determined by SiPay for the underage Users to benefit from the Services. The Electronic Money accounts of underage Users must be approved by their legal representatives and can be monitored through them. In cases where the User is underage, the legal representative, who has given consent according to this clause, will be able to provide access to applications that allow them to monitor expenses made with the Payment Account subject to this Contract, upon request.

4.9.      SiPay, will provide a unique Identifier for the User to benefit from the services under this Contract. The User will use this Identifier to initiate or execute a payment transaction. This same Identifier cannot be given to another user until 10 (ten) years after the termination of this Contract.

4.10.  The User accepts that SiPay is authorized to take all necessary precautions for transactions considered risky in terms of “money laundering”, “financing of terrorism”, and “financing of the proliferation of weapons of mass destruction” within the scope of national and international regulations and rules included in these subjects. The user accepts that SiPay may follow national legislation and international organizations’ recommendations, principles, standards, and guidelines on subjects considered risky, perform necessary updates, and may refuse to carry out any transaction deemed risky, and for this reason, without limitation to those mentioned herein, he User agrees that their Payment Account with SiPay can be indefinitely frozen or closed, SiPay may choose not to execute the Payment Transaction, may return incoming transfer amounts to their source, and, not limited to these, may refrain from conducting various similar transactions (for example, opening an account, making a fund transfer, and similar).

4.11.  SiPay may temporarily or permanently close the User’s Payment Account if there is suspicion that the Platform or Services are used in violation of legislation, improperly, fraudulently, or without authorization. In the case of a temporary or permanent closure under this clause, SiPay will not inform the User if there is a provision in the Legislation that prevents giving information or if there are reasons threatening security and SiPay will not reopen the payment Services and application for use.

4.12.  Users are responsible for ensuring that no information that could jeopardize the security of Sensitive User Data, the SiPay account, and Payment Instruments is shared during any activities, including but not limited to transactions and communications carried out via the Platform, call center, email support line, and other channels. Users commit to act in accordance with the provisions of this Contract, the relevant laws, morals, manners, and principles of honesty in their communication with SiPay and in the use of products owned by SiPay, and to refrain from conducting actions that are illegal, include swearing and insults, are against general morality, reflect political views, obscene, racist, discriminatory, could disrupt public order, or are threatening. Failure to fulfil this commitment may result in SiPay closing the User’s account indefinitely.

4.13.  The user acknowledges that SiPay may implement campaigns, loyalty programs, and other applications (“Campaign”) in accordance with its own terms and conditions and that the User accepts the rules and conditions related to these applications in advance, agreeing to use the points earned within these applications exclusively at Payee’s determined by SiPay and within the periods specified by SiPay. Users acknowledge that the conditions related to the Campaigns will be determined by SiPay on the Platform and other mediums and agree to benefit from the Campaigns by complying with these conditions; SiPay reserves its rights in case the Users do not comply with the relevant Campaign conditions. SiPay reserves the right to cancel, revoke, and delete the relevant points and campaigns without any reason.

4.14.  The User agrees that they cannot conduct transactions above the transaction limit set by SiPay under this Contract. The transaction limits will be determined by SiPay and published on the Website. If the User requests an increase in the transaction limit and SiPay deems this request appropriate, SiPay may charge a fee specified on the Website to increase the transaction limit and may require the User to go through additional identity verification processes mandated by the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism.

5. PROVISIONS RELATED TO PAYMENT SERVICES

5.1.      The provision of Payment Services is based on the User’s request or consent. The User is considered to have accepted the terms and conditions stated in this Contract, the relevant Legislation, and/or at the stage where the Payment Service request or consent is given. To clarify, once this Contract is approved by the user, if the CBRT decides that additional payment services are necessary for the development of the payments area, obtaining consent and request from the User for the provision of these additional payment services, determined by the CBRT, is not required. The User will be informed at least 30 (thirty) days before the commencement of the additional payment service, and the service will not be provided if the User indicates that they do not want the additional payment service.

5.2.      SiPay can define different identity verification methods and different account types for its Users within the scope of the legislation it is subject to and its own risk management policy. The Services provided by SiPay and the limits and restrictions related to these Services can be differentiated within the scope of the applicable legislation and risk management policies. SiPay has the right to change or terminate the Services it offers at any time at its own discretion.

5.3.      The Payee alone is authorized to determine the fees related to goods and services obtained using the Payment Services provided under this Contract and the conditions for the collection of these fees. The user acknowledges that SiPay bears no responsibility in matters between the User and the Payee.

5.4.      The User may only transfer Funds to the Payment Account using payment accounts, credit cards, bank cards, and other Payment Instruments that they are legally entitled and authorized to use for Payment Services. The User is liable to compensate SiPay for all damages that SiPay may incur due to demands from third parties caused by the unlawful use of Payment Instruments.

5.5.      User instructions, including payment instructions, will be considered valid by SiPay when the User logs into the Platform with their username and password or provides transaction instructions using the password information of the Payment Instrument. The User can access the information required for initiating or conducting a payment transaction both during and after accessing their SiPay account, and this information requested by SiPay will be entered by the User themselves.

5.6.      The User can issue a Payment Order related to the Payment Transaction and its approval through the Platform, with the Payment Instrument, or if SiPay accepts, it may also give it through other permanent data storage devices (such as SMS, email, and similar tools or mediums). The Payment Order and its approval can be given before or after the Payment Transaction occurs. The User’s approval of the Payment Order can be explicit or implicit (such as through silence, not objecting, or other implied forms). The payment transaction is authorized by the entry of the Payment Instrument’s password by the User and/or entering the verification code sent to the User in the relevant field or by giving approval through the Platform or similar methods.

5.7.      Payment Services are carried out through channels that can be accessed via computers and mobile devices (smartphone, tablet, etc.) with an internet connection. To use the Platform, the User must have a desktop computer, laptop, tablet, smartphone, or similar device equipped with an internet browser capable of navigating basic internet sites. Using SiPay Mobile Application requires a smartphone with internet connectivity. It is recommended that smartphones operate on iOS or Android operating systems. The Mobile Application must be installed from the relevant app store for each mobile device. The smartphone must have the necessary memory to install the Application. SiPay may request updates to the Mobile Application to enhance the customer experience. In the event of an update to the Mobile Application, the smartphone used must be capable of receiving such updates, including the necessary operating system updates that allow for the installation of these updates. The User is responsible for ensuring a secure internet connection on their device, installing and using virus protection software, and taking necessary precautions to prevent the device from being accessed by unauthorized persons. SiPay shall not be responsible for any damage arising from unauthorized use or control of the device used by the User to access the Platform.

5.8.      The moment the Payment Order is transmitted to SiPay is considered the moment the Payment Order is received. If a decision is made to execute a Payment Transaction on a specific day, the day agreed upon for the transaction is considered the date of receipt. The User acknowledges and declares that Payment Orders can be transmitted until 24:00 (00:00) on any day, excluding holidays, and any Payment Order received later can be considered received on the next Business Day -at SiPay’s discretion-. For payments under this Clause, the User can revoke the Payment Order no later than the end of the Business Day before the agreed date for the Payment Transaction but cannot revoke the Payment Transaction after authorizing SiPay.

5.9.      In cases where the Payment Transaction is initiated by the Payee, through the Payee or by a Payment Order Initiation Service Provider, the Payer cannot revoke the Payment Order after transmitting it to SiPay or after giving approval in accordance with the method determined by SiPay for the execution of the Payment Transaction.

5.10.  SiPay shall execute the Payment Order on the payment date agreed with the User, provided that the Payment Order is submitted at least 1 (one) day in advance. The day agreed for payment shall be considered the time of receipt of the payment order. If the agreed day is not a Business Day for the payer’s payment service provider, the payment order is considered received on the following Business Day.

5.11.  When the User acts as the Payer and initiates a single payment transaction under this Contract, SiPay shall provide the User with information regarding the maximum completion time for the payment transaction and a breakdown of the total fees and charges to be paid. In the case of single payment transactions, immediately after receiving the Payment Order from the User acting as the Payer, SiPay shall provide: (i) specific reference information for the Payment Transaction and information about the Payee, (ii) the amount of the Payment Transaction in the currency debited from the User’s Payment Account or in the currency specified in the payment order, (iii) a breakdown of the total fees and charges payable by the User for the Payment Transaction, (iv) if applicable, the exchange rate applied to the Payment Transaction and the amount calculated using this exchange rate, (v) information regarding the date the Payment Order was received or the User’s account was debited; and when the user acts as the Payee, after the execution of the payment transaction, SiPay shall immediately provide: (i) information or passwords required by the User for the Payment Transaction, (ii) the amount of the Payment Transaction in the currency credited to the user’s Payment Account, (iii) a breakdown of the total fees and commissions to be paid, (iv) the exchange rate or reference exchange rate applied to the Payment Transaction, (v) information regarding the date the funds are made available to the User. Upon request, these notifications can be provided at regular intervals, at least once a month, without any fee, by methods determined by SiPay that allow for the information to be stored and used without alteration.

5.12.  In the event where a Payment Transaction initiated by the Payee or on behalf of the Payee, and the amount for the Payment Transaction is not specified in full at the time of authorization, leading to the actual Payment Transaction amount exceeding the anticipated amount considering spending history, contract conditions, and other relevant factors, the Payer may request a refund for the amount of the executed Payment Transaction. Refunds cannot be requested after the consumption of the goods or receipt of the service. SiPay may require the Payer to provide factual evidence for their request. The refund request must be made within 2 (two) months from the date of the Payment Transaction.

5.13.  Provided that the Payment Transaction is carried out in accordance with the reference exchange rate specified in the Contract, the Payer cannot base the claim that the conditions stipulated in this clause on reasons related to the exchange rate.

Upon receiving the refund request from the Payer, SiPay will either complete the refund within 10 (ten) Business Days, accepting the request, or reject it providing reasons and informing of the legal remedies available. This provision does not apply in circumstances described in the Clause 5.13 of the Contract.

5.14.  In cases where the approval for the Payment Transaction is given directly to SiPay or notification is made to the Payer at least 1 (one) month before the date on which the payment is to be executed, the Payer does not have the right to request a refund for the Payment Transaction.

5.15.  In the event that SiPay refuses to execute a Payment Order, it will inform the User as soon as possible and no later than the end of the Business Day following the receipt of the Payment Order, in writing or through the GSM number, e-mail address or any of the alternative channels (such as Call Center, internet, mobile, etc.) specified in this Contract and its annexes, stating the reasons for refusal and, if applicable, how the errors leading to the the refusal can be corrected. If the refusal is based on a valid reason, SiPay has the right to charge a reasonable fee in accordance with the communication channel used for the notification.

Faulty/Unauthorized Transactions:

5.16.  The User is responsible for securely protecting the Payment Account, Payment Instrument, and its password, Sensitive User Data, and taking all necessary measures to prevent their use by others; in the event of an incident that raises suspicion of fraudulent or unauthorized use of the Payment Instrument, or if the Payment Instrument is lost, stolen, or transactions are made without the User’s consent, the User must immediately notify the SiPay Call Center or the support email address and block the Payment Instrument from being used. The User accepts that they will be responsible in the manner specified in this Contract for any damages arising from the use of the payment interface, Payment Instrument, User payment data, username, and password by unauthorized persons without any fault of SiPay, and/or use beyond the given purpose.

5.17.  If the detection of these circumstances is made by SiPay, SiPay shall ex officio block the use of the Payment Instrument and inform the User in writing or by a permanent data storage device about the reason for the blockage. Upon the User informing SiPay that the reason for blocking the Payment Instrument has been resolved, SiPay will reactivate the Payment Instrument or, upon request, provide the User with a new Payment Instrument. SiPay may charge a renewal fee if a new Payment Instrument is provided.

5.18.  The User is obligated to report any unauthorized or incorrectly executed payment transaction to SiPay from the date they become aware of it and request a correction. The request for correction cannot exceed 13 (thirteen) months from the execution of the payment transaction. In the event that it is determined that the transaction was carried out unauthorized or incorrectly, SiPay shall immediately refund the incorrect amount to the User or restore the User’s account to its previous state. If the transaction amount has been transferred to the Payee or the Payee’s payment service provider as of the notification date, SiPay shall request the refund of these amounts from the Payee or the Payee’s payment service provider and transfer these amounts to the User.

5.19.  In the event of loss, theft, or unauthorized use of the Payment Instrument and/or password information, the Payer is responsible for the Payer is responsible for any unauthorized payment transactions that occur within 24 hours prior to the notification made to S regarding unauthorized or fraudulent use, up to an amount of 250 (two hundred and fifty) Turkish Liras. The User will not be responsible for any unauthorized payment transactions that occur after the notification. In cases where the User fraudulently uses the Payment Instrument and intentionally or due to gross negligence fails to fulfill their obligations, the User shall be responsible for all damages arising from this cause, without any limitation of time and fee. This Clase will not apply to Users who do not qualify as consumers.

5.20.  In case the Payee, the Payee’s Payment Service Provider, or SiPay has reasonable belief about the existence of an unauthorized transaction, upon reviewing the User’s authorizations and it may refuse the accept a payment in cases of suspected fraudulent transactions. The User will have no right to demand in this circumstance.

5.21.  In the event of a refund from the Payee and/or the Payee’s Payment Service Provider due to a faulty and unauthorized transaction, the amount related to SiPay’s damage arising from the transaction can be offset from the refunded amount without the need for any permission or notification.

5.22.  In the event that the User pays the Fund through a credit card within the scope of the Payment Transaction and wishes to withdraw this Fund, the relevant Fund can only be withdrawn by transferring it back to the same credit card account. If the User’s credit card is canceled before the refund, the refund of the Fund can be made to a Payment Account opened in the name of the User who deposited the Fund. The User accepts that SiPay may request additional information and documents and apply additional processes if a payment is made to a Payment Account opened in their name.

5.23.  SiPay is responsible to the User for ensuring that the Payment Transaction is carried out in accordance with the Payment Order. SiPay transfers the payment transaction amount to the Buyer’s bank or payment service provider immediately from the date of receipt of the Payment Order and in any case by the end of the next business day at the latest; If the User is the Buyer, he/she is obliged to make the Payment Transaction amount immediately available to the User. If the payment amount is not sent to the Buyer’s bank or payment service provider within this period or is sent incorrectly by SiPay, SiPay will refund the unrealized or incorrectly realized amount to the User without delay or restore the User’s account. If the User requests from SiPay the reason why the transaction in question did not occur or occurred incorrectly, SiPay carries out the necessary work to obtain the requested information and is obliged to notify the User of the result it has reached. SiPay is in no way responsible for the actions of the Buyer’s bank or payment service provider. In case the services within the scope of this Agreement are provided with a defect, the User is free to exercise one of the rights to re-visit the Payment Service, to correct the defect arising from the Payment Service, to request a discount on the defect rate or to withdraw from the Agreement.

Open Banking

5.24.  The User can benefit from Account Information Service and/or Payment Initiation Service within the conditions set by SiPay on the Platform.

5.25.  The User agrees to comply with the rules set by ASPSPs and Interbank Card Center Inc. (including transaction limits and restrictions) to benefit from Open Banking Services; the User acknowledges that they cannot benefit from mentioned services if they fail to comply with the rules determined by these institutions.

5.26.  The User acknowledges that the account information presented during the Account Information Service, is provided by the relevant ASPSP, and therefore, SiPay bears no responsibility for the accuracy and completeness of such account information.

5.27.  The User acknowledges that the Payment Transaction order given within the scope of the Payment Initiation Service is executed by the relevant ASPSP. In this context, SiPay is not liable for any delays, errors in execution, or failure to execute such transactions. In these cases, the User shall communicate with the relevant ASPSP.

5.28.  Restrictions, charges, and rules introduced by the Interbank Card Center Inc. or the CBRT regarding the provision of Open Banking Services can be immediately reflected to the User without any notification.

5.29.  SiPay agrees and undertakes to provide the User with the information regarding the confirmation issued by the ASPSP, where the User’s Payment Account is located, immediately after the initiation of the Payment Order, indicating that the Payment Order has been successfully initiated.

5.30.  In the event of an unauthorized or faultless payment transaction initiated through SiPay, the refund of the amount related to the unauthorized payment transaction will be carried out by the ASPSP. SiPay will not be held responsible for any damages arising from such unauthorized payment transactions, unless such unauthorized payment transaction is due to any fault of SiPay or a failure in the infrastructure and services under its responsibility.

5.31.  The User accepts that once a Payment Transaction is initiated with the approval through SiPay, the payment order cannot be revoked after it has been transmitted to the relevant ASPSP or after approval has been given to the ASPSP in accordance with the method previously determined for the execution of the Payment Transaction.

5.32.  During the provision of the Payment Initiation Service, SiPay fulfills the following conditions SiPay;

5.32.1. Never holds the funds related to the Payer’s Payment Initiation Service in its own accounts.

5.32.2. Ensures that sensitive customer data cannot be accessed by parties other than those who generate and use these data, and that this data is transmitted through secure and efficient channels.

5.32.3. Ensures that other information obtained about the User during the Payment Initiation Service is transmitted only to the Payee, provided the User has given consent.

5.32.4. Identifies itself in each Payment Initiation transaction at the institution where the Payer’s payment account is located, and communicates securely with the Payer, Payee, and the institution holding the Payment Account in accordance with the regulations made by the CBRT under the Articles 31 and 59 of the Regulation.

5.32.5. The CBRT may not store sensitive customer data (except for the name of the Payment Account holder, the Payment Account number, the Payment Instrument number, and other matters decided by the CBRT to be considered in this scope, provided that necessary security measures are taken and the Payer gives explicit consent).

5.32.6. May not request data from the User other than the data necessary for the provision of the Payment Initiation Service.

5.32.7. As long as it is approved by the Payer, it may access, use, and store the relevant data for the purpose of providing the Payment Initiation Service, in accordance with data security and privacy regulations; it may not access, use, or store any data for purposes other than the provision of the Payment Initiation Service.

5.32.8. May not modify the payee, amount, or any other attribute of the Payment Transaction.

5.33.  During the provision of the Account Information Service, SiPay fulfills the following conditions:

5.33.1. Can only provide services for which the User has given consent.

5.33.2. Ensures that the User’s sensitive data may not be accessed by parties other than those who generate and use these data, and that this data is transmitted through secure and efficient channels.

5.33.3. Identifies itself in every session of communication at the institution where the payment account is located and communicates securely with the customer and the institution holding the payment account in accordance with the regulations made by the CBRT under Articles 31 and 59 of the Regulation.

5.33.4. Can only access information related to designated Payment Accounts and related to Payment Transactions.

5.33.5. May not request sensitive customer data related to Payment Accounts (except for the name of the Payment Account holder, the Payment Account number, the Payment Instrument number, and other matters decided by the CBRT to be considered in this scope, provided that necessary security measures are taken and the User’s gives explicit consent).

5.33.6. As long as the User gives consent, it may access, use, and store the relevant data for the purpose of providing the Account Information Service, in accordance with data security and privacy regulations; it may not access, use, or store any data for purposes other than the provision of the service.

 

6. PROVISIONS RELATED TO CARD STORAGE SERVICES

6.1.      The User’s utilization of Card Storage Services is contingent on their consent.

6.2.      Within the scope of this Contract and with the consent specific to payment transactions carried out through SiPay, the User agrees to share their card information with SiPay for the purpose of facilitating payment transactions, consenting to the storage of this information by SiPay or its secure storage service provider until otherwise indicated by the User. The shared information is limited to the bank to which the card is connected, the name and surname on the front of the card, card number, and expiration date.

6.3.      The User accepts and undertakes that the information provided under this Contract belongs to them, is accurate and true, and they are solely responsible for all transactions made with the cards in question, including all legal and criminal liabilities related to these transactions.

6.4.      The User can register their cards with SiPay by entering the card number, expiration date, and card security code information (as requested and in the requested manner), thereby consenting to the transfer of card information to SiPay. The User who successfully adds a card will be able to use their card in subsequent transactions without the need to enter additional information. In this context; the User can store any number of cards within the limits set by SiPay at their discretion under Card Storage Services. The User accepts that this Contract is applicable to the storage and use of all such cards.

6.5.      When the User wishes to make a transaction through one of the payment channels with their card, if the relevant payment channel is integrated with SiPay, the cards registered to the User will be listed with distinguishing information (such as a nickname for the card determined by the User), and the User will be asked if they wish to proceed with the transaction using these cards. SiPay may make changes in the transaction flow in the future and introduce additional security measures (such as passwords, one-time verification codes, approval via the app, etc.) for the User’s security. The User accepts and undertakes that they are solely responsible for the security and confidentiality of all passwords they will set and use within this system, and will not share their passwords with third parties, and is solely responsible for all transactions made with the credit card registered to the system.

6.6.      The User is responsible for contacting the issuer and ensuring the cancellation of the stolen card, if the card registered with SiPay is lost or stolen.

6.7.      The User is obliged to act in accordance with this Contract and the applicable legislation during the use of Card Storage Services. If there is any suspicion of non-compliance by the User, SiPay may immediately suspend the provision of the relevant service or terminate this Contract. The User will compensate for all damages incurred by SiPay as a result of non-compliance with this Contract or the legislation.

6.8.      SiPay may request additional information, documentation, or consent from the User at any time to ensure compliance with the applicable legislation, and the User agrees to comply with these requests, acknowledging that otherwise, the Card Storage Services may not be provided as specified in this Contract.

6.9.      The Card Storage Services covered by this Clause may be provided free of charge by SiPay, may be subject to various campaigns from time to time or may be offered for a fee. The User agrees to be bound by SiPay’s pricing policy for as long as they use the Service.

7. SPECIAL PROVISIONS RELATED TO ELECTRONIC MONEY

Provisions Applicable When the User is the Payer:

7.1.      Following the User’s request for the issuance of Electronic Money specified through the methods on the Platform, SiPay shall issue Electronic Money equivalent to the amount of the Funds and make this available to the User and will provide the User with a receipt showing the amount of Funds received in exchange for the issued Electronic Money.

7.2.      Unless otherwise specified in writing by the User, the owner of the Electronic Money is considered to be the legal owner of the Payment Instrument. In other cases, the User must inform SiPay in writing, and SiPay may request the completion of necessary identity verification and provision of information within the scope of the User Identity Authentication procedure.

7.3.      The User may request, via the Platform, the partial or complete conversion of Electronic Money into Funds. Unless there is a right or obligation to the contrary in the legislation, SiPay, upon the User’s request and after receiving all the information including the IBAN number completely and fulfilling any necessary legal obligations, will execute the transactions related to the transfer of the Fund equivalent to the Electronic Money to the IBAN numbered account provided by the User within no later than 1(one) Business Day.

7.4.      The User accepts that in case, a fee for converting as specified amount into Funds, as stated on the Platform, will be deducted from the total amount to be refunded. The User acknowledges that if the amount requested for refund by the User and/or the monthly balance and/or usage amount exceeds the limits set by the applicable legislation, the User must undergo Identity Authentication and identification, otherwise no refund will be made until this verification process is completed.

7.5.      The responsibility for the loss, theft, or acquisition by third parties of Electronic Money products for which the activation has not been completed lies solely with the person holding the ownership, and SiPay bears no responsibility for any loss or damage in such circumstances. During the activation process, SiPay may request information related to identity verification from the User, including but not limited to the Turkish Identification Number (TCKN), name, and surname, as determined by SiPay and/or as required by legislation, and may not complete the activation process if this information is not provided. Electronic money cannot be converted into cash, refunded, or exchanged without activation.

Provisions Applicable When the User is the Payee

7.6.      The User declares and accepts that SiPay can issue Electronic Money in amounts equal to the sums received from the Payers, that this Electronic Money can be used for the purchase of goods and/or services by the User, and that the remaining Electronic Money after deductions such as commission, payment, and other deductions made by SiPay on the Electronic Money will be transferred to the User’s Payment Account with SiPay.

7.7.      The User can request, through the Platform, the partial or total conversion of the Electronic Money in the Payment Account held with SiPay into Funds in Turkish Lira at any time. Requests not sent through the Platform will be invalid. Unless legally obligated otherwise, SiPay will convert the Electronic Money into Turkish Lira as Funds and send it to the User’s Payment Account with the Payment Service Provider within 1 (one) Business Day following the receipt of the request.

8. ESTABLISHMENT OF THE CONTRACT BY REMOTE COMMUNICATION

8.1.      In addition to its other provisions, if this contract is established through Remote Communication Tool, the following regulations will be applicable. The authority to conclude the Contract through Remote Communication Tool belongs to SiPay, conditional upon the User’s consent.

8.2.      This Contract can be established through any Remote Communication Tool that allows the formation of a contract without SiPay and the User being physically present, including but not limited to the Platform, telephone, and email messages.

8.3.      The User accepts that the information and documents to be provided to SiPay can be obtained through methods such as mail, email, online video calls, a central structure approved by the CBRT, or other innovative methods suitable for current technology, and that the User will fulfill their obligations in accordance with these methods.

8.4.      The User is solely responsible for any deficiencies or malfunctions experienced during the use of the Remote Communication Tools. If SiPay is informed of any malfunctions encountered during the use of the Remote Communication Tools via the call center or email, SiPay will make a reasonable effort to resolve the issue if it is caused by SiPay itself.

8.5.      SiPay will store the information, documents, and records obtained in the context of the Remote Communication Tool for a minimum period of 10 (ten) years, until the purpose of processing has terminated in accordance with Law No. 6698 or unless a different regulation exists in the relevant legislation, in accordance with the Law No. 6698. The storage obligations arising from the Law No. 5549 on the Prevention of Laundering Proceeds of Crime and secondary regulations remain in effect.

8.6.      Prior to the establishment of this Contract through the Remote Communication Tool, SiPay shall conduct a risk assessment considering the type and nature of payment transactions specific to the User, the potential financial and non-financial impacts, the maximum transaction amount, and the User’s reliability in accordance with the relevant legislation. Based on the outcome of this risk assessment, SiPay is authorized to decide unilaterally on the necessity of establishing the Contract in the simultaneous physical presence of the parties. Therefore, SiPay does not guarantee that a contractual relationship will necessarily be established with the User.

8.7.      SiPay is obligated to monitor the User who is the party of the Contract established via Remote Communication Tools within a different risk profile. In this context, the User accepts that SiPay is authorized to apply additional security and control measures depending on the type and amount of transactions conducted with the User.

9. DURATION AND TERMINATION OF THE CONTRACT

9.1.      The contract enters into force upon the User’s electronic consent, indicating the understanding and acceptance of the Contract, or upon its physical signing and remains in force unless terminated under conditions specified in this article. The Contract can be terminated at any time by mutual written agreement of the Parties.

9.2.      SiPay or the User can terminate this Contract without any compensation by giving one (1) month’s prior written notice. If the User terminates this Contract within one (1) year from the date of signing, no termination fee will be charged.

9.3.      In the event it is determined that the User has used the Service provided by SiPay for illegal purposes or has procured illegal goods or services in violation of the Law No. 6493, Law No. 5549, but not limited to these, legislation, laws, or morals, or if the transactions are found to be contrary to international regulations or any regulations and contractual relationships to which SiPay and its business partners are subject, or within the framework of SiPay’s obligations arising from legislation, this Contract shall be terminated by SiPay immediately without any reason and without paying any compensation.

9.4.      In the event that the operating license of SiPay terminates under the Law for any reason, this Contract shall be terminated without any obligation to pay compensation, based on the notification made by SiPay.

10. FINANCIAL PROVISIONS AND TRANSACTION LIMITS

10.1.  All fees and transaction limits that the User must pay for the Services provided by SiPay, are listed on the Platform. These transaction limits, fees, costs, and commissions can be updated unilaterally by SiPay.

10.2.  SiPay reserves the right to charge a fee for notifying the User in cases of justified rejection of the Payment Order, the request to withdraw the Payment Order, the withdrawal of the Funds involved in an erroneous Payment Transaction, and other similar circumstances.

10.3.  It is the User’s responsibility to ensure that the Payment Account reported to SiPay is current, clear, and is in use. If the reported Payment Account is not registered in the User’s name, no payment will be made to this account by SiPay.

10.4.  SiPay may offset its receivables from the user under this Contract against the payments to be made to the User without any notification. The User hereby accepts, declares, and undertakes in advance that they will not make any objections or any demands in this regard.

11. PROTECTION OF PERSONAL DATA

SiPay will process the User’s personal data within the scope specified in the clarification text found at www.sipay.com.tr as part of this Contract. SiPay may unilaterally change the rules related to the processing of personal data from time to time. In such cases, SiPay will notify the User about the changed rules.

12. OTHER PROVISIONS

12.1.  SiPay has the right to unilaterally make changes and updates to this Contract and its annexes. SiPay will inform the User, at least 30 (thirty) days in advance, about the scope of the change, its effective date, and the User’s right to terminate the Contract without any fee before the change takes effect. The User has the right to terminate this Contract without any fee until the end of the 30-day period. If the User does not express their non-acceptance of the change, the relevant change will be deemed accepted. If the relevant legislation requires a change to be made in less than 30 (thirty) days, this will be specified in the notification to the User, and the period prescribed by the legislation will apply instead of the period mentioned in this clause.

12.2.  The User can submit complaints related to the Services provided by SiPay by providing their name-surname and Payment Account information in the manner specified below. All complaints and objections related to the matters covered by this Contract can be submitted to SiPay’s communication channels specified at the beginning of this Contract. SiPay will respond to the User’s complaints and objections related to the Services in a reasoned manner, in accordance with the application method, within 20 (twenty) days following the date of application.

12.3.  For he disputes arising from this Contract, Istanbul Anadolu Courts and Enforcement Offices are authorized. In the event that the User is a consumer, the right to apply to consumer arbitration committees and consumer courts is reserved.

12.4.  With the reservation of application rights granted by the Law No. 6502 on Consumer Protection and other laws, the User has the right to apply free of charge to the arbitration committees established by the Association of Payment and Electronic Money Institutions of Türkiye (TÖDEB) for the resolution of disputes that may arise between the User and SiPay under this Contract. Conditions for applying to the TÖDEB arbitration committee, the application form, and other information can be accessed at www.todeb.org.tr.

12.5.  The User cannot apply to the TÖDEB Arbitration Committee for disputes with SiPay regarding the following matters:

1. Applications not received by TÖDEB within two years from the date of the transaction or action that is the subject of the application for submission to the Arbitration Committee,
2. Those that have been transferred to the judiciary or the Consumer Arbitration Committee,
3. Applications regarding SiPay’s personnel or general nature complaints about the products and Services provided,
4. Disputes related to transactions not yet carried out by SiPay,
5. Matters related to decisions by SiPay in the event of its bankruptcy or liquidation,
6. Those that have been previously examined by the TÖDEB Arbitration Committee or subject to a finalized court or Consumer Arbitration Committee decision,
7. Applications that have been resolved between SiPay and the User, reserving to the applicant’s right of appeal,
8. Applications outside the scope of payment service and issuance of electronic money activities,
9. Matters within the jurisdiction of the civil courts,
10. Acts considered crimes by law.

12.6.  In cases where the User purchases the Services under this Contract for professional and commercial purposes, even if the User has approved the Contract, the provisions of this Contract related to consumers will not apply to the User.

12.7.  In cases of force majeure, mobilization, earthquake, strike-lockout, lack of fuel, transportation, equipment or other goods and services, natural disasters, contagious diseases, export or import restrictions, fire, explosion, accidents, sabotage, public riots, decisions, guides or changes in Legislation etc. made by any regulatory and supervisory institution or administration including the CBRT, or judicial authorities, neither party shall be held responsible for the inability to perform their obligations under this Contract. The Party exposed to force majeure shall immediately notify the other Party in writing, and the obligations of the Parties shall be suspended during the duration period of the force majeure. Once the force majeure conditions are lifted, the Contract will continue from where it left off. During the period of force majeure, the obligations of the Party whose rights have not been executed shall likewise be suspended. If the force majeure condition lasts more than 30 (thirty) days, the Party whose rights have been violated may terminate the Contract without compensation.

12.8.  Unless otherwise stated in the Contract or in applicable Legislation, all notifications under the Contract can be delivered in written, oral, or electronic form. SiPay will deliver the notifications it has committed to under this Contract or required by relevant Legislation or deemed necessary, to the User through emails sent to the e-mail address registered with SiPay, via SMS sent to the telephone number, through the call center telephone number provided above belonging to SiPay or other telephone lines belonging to SiPay, or through instant pop-up messages and similar methods that appear on the screen via the Application.

12.9.       The addresses mentioned, within the Contract, are considered as the legal notification addresses of the Parties. Notifications sent to these addresses are deemed valid unless a change of address is notified to the other Party in writing.

12.10.   Users can access a copy of the Contact for free through the Application and/or the Website. Upon request of the User, a copy of the Contract and its annexes, as well as documents related to transactions, will be provided by SiPay against specified fees.

13. EFFECTIVENESS

This Contract, consisting of 13 articles, entered into force on the date of the User’s electronic consent, which indicates the understanding and acceptance of this Contract, or upon the date it is physical signed.