1. Introduction
The contractual relationship between you, the customer, and Ryzen Pay (hereafter, “we”, “us”, or “our”) is governed by these terms and conditions, along with any applicable Annexes, terms of use, and privacy policies (collectively referred to as the “Agreement”).
The terms and conditions governing the services we provide to you are outlined in this Agreement. Our pricing list (the “Pricing List”) is provided separately from these Terms and Conditions. You acknowledge that the Pricing List forms an integral part of the Agreement, and that specific pricing may vary depending on the services or products you select. Any variations from the Pricing List will be subject to your acceptance.
If there is any conflict between the Terms and Conditions, Annexes, Terms of Use, and Privacy Policy, the priority shall be as follows
- Pricing List
- Terms and Conditions
- Annexes
- Terms of Use
- Privacy Policy
In the event of any inconsistency between the Terms of Use and the Terms and Conditions, the Terms of Use shall prevail solely with respect to your use of the Website, while the Terms and Conditions shall prevail in all other matters.
By registering for and using our services, you confirm that you accept, acknowledge, and agree to this Agreement in its most current form as posted on our Website, App. If you do not agree, you must refrain from using our Services. This Agreement constitutes a legally binding contract and will govern your entire relationship with us.
2. Definitions
Account means the customer account that is required to register and access our Services. It serves as the primary means for managing your use of our platform, including conducting transactions, accessing features, and interacting with our Services.
Agreement means these terms and conditions, along with any applicable Annexes, terms of use, and privacy policies (collectively referred to as the “Agreement”).
Agreement means these terms and conditions, along with any applicable Annexes, terms of use, and privacy policies (collectively referred to as the “Agreement”).
Business Day means any day other than a Saturday, Sunday, or public or bank holiday in Georgia, Tbilisi.
Confidential Information means any information marked as confidential or proprietary, or which should reasonably be expected to be confidential in context, including the terms of this Agreement, business plans, data, strategies, customer and client lists, technical specifications, transaction data, and personal data.
Customer (also referred to as “you” or “your”) means any individual or entity registered with us to use our Services, including holding deposits or conducting transactions, subject to verification and these Terms and Conditions.
Customer Account means the registered electronic money account(s) held with us in accordance with this Agreement, along with any other accounts held by it with us in respect of our Services.
Customer Application Form means the application or order form provided by us and completed by you to apply for our Services.
Customer Liabilities means any liability you owe us under this Agreement (actual or potential), including amounts we reasonably determine to be due in relation to Payment Orders, Fines, Service Fees, refunds, or other liabilities.
Data Protection Legislation means applicable laws, rules, and regulations relating to the processing of personal data, including GDPR, local laws, and any amendments or replacements.
Equipment means hardware, software, firmware, telecommunication devices, or similar equipment required to facilitate processing Payment Orders.
Fines means fines imposed on us related to Payment Orders, Transactions, or services, supported by reasonable documentation issued by us.
Force Majeure Event means circumstances beyond the reasonable control of a Party, such as war, civil unrest, terrorism, pandemics, fire, flood, or natural disasters, excluding labor disputes or shortages.
GDPR refers to the EU General Data Protection Regulation 2016/679.
Ryzen Pay is the trading name of Ryzen Pay Company number: 400408377 and refers to the digital platform operated and owned by us, providing services including but not limited to Virtual IBAN payment settlement
Ryzen Pay and/or our Losses means any actual and proven losses incurred due to fraud, risk, breach of this Agreement, unpaid Fees, chargebacks, fines, expenses, refunds, legal and dispute resolution costs.
Ryzen Pay Services (the “Services”) means any services provided by us under this Agreement, including Virtual IBAN payment services.
Ryzen Pay Website (the “Website”) means the website operated by us, accessible at https://www.ryzen-pay.com, excluding external websites linked from it.
Person means an individual, corporation, partnership, trust, or other organization.
Personal Data means any data subject to Data Protection Legislation.
Payment Order means the instruction given by you to us to transfer funds.
Pricing List means the schedule setting out the fees for Services, used to calculate Service Fees due by you.
Privacy Policy means our privacy policy available on the Ryzen Pay website.
Security Incident means any accidental or unlawful destruction, loss, alteration, unauthorized access, or disclosure of personal data that poses a high risk to individuals’ rights.
Security Incident means any accidental or unlawful destruction, loss, alteration, unauthorized access, or disclosure of personal data that poses a high risk to individuals’ rights.
Rules refers to rules issued by payment systems or operators that must be complied with when using our Services.
Restricted Transactions List specifies transactions that are prohibited, require prior approval, or involve illegal activities, as outlined in our acceptable usage policy.
Security means any security measure requested by us, such as bank guarantees.
Service Fees are the fees specified in the Pricing List.
Terms & Conditions means these terms governing the use of the Account.
Transaction refers to any operation regarding your Virtual IBAN provided by us.
Transaction Data includes all information necessary for processing a Transaction.
3. About Us And How To Contact Us
3.1. We, Ryzen Pay, are incorporated under the laws of Georgia, Tbilisi, with company number 400408377.
3.2. Our registered address is Georgia, Tbilisi, Gldani District, Omar Khizanishvili Street, N 264.
3.3. We are licensed as a financial institution under applicable laws and regulated by relevant authorities. Details can be found at LEPL National Agency of Public Registry
3.4. Existing clients may contact us via our secure online portal or contact center.
3.5. New clients can reach us at support@ryzen-pay.com. Please note email communication may be less secure.
3.6. For security concerns, contact us by phone and confirm in writing via support@ryzen-pay.com.
3.7. Write to us at the address provided above.
4. General
4.1. References to “you” and “your” relate to you and anyone accessing the services on your behalf.
4.2. References to “Ryzen Pay”, “we”, “us”, or “our” refer to Ryzen Pay and its affiliates.
4.3. This Agreement incorporates these Terms & Conditions, Annexes, Privacy Policy, and Terms of Use. The Pricing List is integral to the Agreement.
4.4. You accept the latest version of this Agreement by creating an account and using our Services.
4.5. In case of inconsistency, the priority is as follows:
- Pricing List
- Terms and Conditions
- Annexes
- Terms of Use
- Privacy Policy
4.6. Headings are for convenience only.
4.7. Words in singular include plural and vice versa; gendered terms include all genders.
4.8. Phrases like “including” or “such as” are illustrative and not limiting.
5. Registration And Opening An Account
5.1. To access our Services, you must open an account by completing the application form on our website.
5.2. Account approval is subject to verification, compliance with laws, and our internal policies.
5.3. You agree to provide accurate information and update it as necessary.
5.4. You must supply information as requested, including personal or corporate details, documents for AML and KYC compliance.
5.5. You grant us the right to audit compliance with this Agreement, with prior notice.
5.6. Cooperation during audits is required; records may be kept confidential.
5.7. Audits are limited to once per year unless otherwise agreed.
6. Use Of The Services
6.1. Use of our Services begins after approval of your application and documentation.
6.2. Funds are transferred via a Virtual IBAN provided by us, with third-party service providers involved.
6.3. Your information may be shared with trusted third parties for service delivery, as detailed in our Privacy Policy.
6.4. Access is governed by this Agreement and the Pricing List.
6.5. We facilitate onboarding with third-party System Participants, but do not guarantee their services.
6.6. Services depend on maintaining banking facilities and insurance; availability may be affected.
6.7. Credit and mortgages may be available, subject to approval and security arrangements.
7. Notification Of Material Changes
7.1. You must promptly notify us of changes to personal or business information, including address, legal name, ownership, or financial status.
7.2. Failure to notify may result in liabilities or penalties.
7.3. The Client acknowledges and agrees that the VIBANs associated with their account are issued through RYVYL EU EAD. Furthermore, the Client understands, accepts, and explicitly consents that RYVYL EU EAD executes all the incoming payments related to their VIBAN account. By accepting these Terms & Conditions, the Client grants their irrevocable consent for RYVYL EU EAD to handle, process, and execute all such payments related to their VIBAN account, and further acknowledges that RYVYL EU EAD shall not be liable for any issues arising from the execution of such transactions, provided they are executed in accordance with the operational procedures set forth by RYVYL EU EAD. The Client agrees that any payment-related transactions conducted via the VIBAN account, will be subject to the operational procedures, terms, and conditions established by RYVYL EU EAD. These procedures may include, but are not limited to, security measures, compliance checks, transaction limits, and processing times as determined by RYVYL EU EAD. The Client further acknowledges that RYVYL EU EAD shall have the discretion to refuse or delay any transaction that does not meet their internal compliance
8. Security Of Your Account
8.1. You are responsible for maintaining the confidentiality of Security Features.
8.2. Follow security guidelines, including strong passwords, secure devices, and safe communication practices.
8.3. You agree to cooperate with security measures, including legal charges or guarantees if requested.
9. Processing Payment Orders
9.1. You instruct us to transfer funds upon submission of Payment Orders.
9.2. Payment Orders are final once issued.
9.3. We may request additional information or suspend orders if necessary.
9.4. Interest earned on held funds belongs to us.
10. Fees And Taxes
10.1. Fees are outlined in the Pricing List. By accepting it, you agree to pay.
10.2. We may deduct owed amounts from your balance or issue invoices.
10.3. Unpaid amounts may accrue interest at 2% above the Bank of Georgia base rate.
10.4. Service Fees exclude VAT; applicable taxes are your responsibility.
10.5. You are liable for taxes arising from your payments.
10.6. If your account balance is insufficient, we may invoice you and charge interest on overdue amounts.
11. Limitation Of Use
11.1. You must not misuse our systems or services, including:
- Violating laws or regulations
- Introducing harmful software or malware
- Engaging in fraudulent or illegal activities
- Interfering with our systems or launching attacks
12. Suspension Of The Services
12.1. We may suspend or limit services for security, compliance, or legal reasons, including insolvency or significant changes.
12.2. We will notify you unless prohibited by law.
12.3. Suspensions are temporary and will be lifted once issues are resolved.
13. Intellectual Property
13.1. Each Party grants the other a license to use trademarks and logos for the purpose of this Agreement.
13.2. We may use your intellectual property for marketing unless otherwise agreed.
13.3. You must stop using our IP upon request.
13.4. Content on our Website is owned or licensed by us; copying is permitted for personal use.
14. Confidentiality And Data Protection
14.1. Confidential Information must be protected and only used for purposes of this Agreement.
14.2. Disclosure is permitted if required by law or governmental authority.
14.3. We may share your information with trusted third parties to provide services, under confidentiality obligations.
14.4. Confidentiality does not apply if information is public, known prior, or obtained lawfully from third parties.
14.5. Obligations survive termination.
14.6. Both Parties shall execute a Data Processing Addendum (DPA) to comply with Data Protection Legislation.
14.6.1. The DPA forms part of this Agreement; conflicting terms favour the DPA.
15. Changes To This Agreement
15.1. We may amend these Terms by notice.
15.2. Notices are sent by mail or email; your responsibility to keep contact info updated.
15.3. Changes take effect after 14 days unless you object.
15.4. You may object or terminate within the notice period.
15.5. Certain urgent or beneficial changes may be made immediately, including legal or security updates.
16. Liability Limitation
16.1. We are not liable for fraud, wilful misconduct, or breaches of confidentiality.
16.2. You indemnify us for breaches or claims arising from your misuse.
16.3. We are not liable for hardware/software failures, system outages, or external disruptions.
16.4. Neither Party is liable for delays caused by Force Majeure, provided they notify the other.
16.5. Each Party defends and holds harmless the other against claims resulting from acts, breaches, or infringement.
17. Closing Your Account And Termination
17.1. You may close your account at any time, following procedures on our Website or App.
17.2. Withdraw remaining funds before closure; post-closure, contact support for up to 6 years.
17.3. We may suspend or close your account for violations, legal reasons, or security concerns, with prior notice where possible.
17.4. Termination is effective immediately if serious breaches occur.
17.5. Upon termination, both Parties must cease using each other’s IP and return confidential info.
17.6. Outstanding balances must be paid; licenses terminate.
18. Other Legal Terms
18.1. Warranties : Both Parties warrant lawful authority, performance, and compliance
18.2. Assignment : Rights may not be assigned without consent; we may assign rights freely.
18.3. Enforcement : Delay in enforcement does not waive rights.
18.4. Relationship : Independent contractor relationship; no partnership.
18.5. Non-solicitation : Parties agree not to solicit each other’s employees during and six months after the Agreement.
18.6. Notices : Written notices via mail, email, or delivery; address updates are your responsibility.
18.7. Governing Law : This Agreement is governed by Georgian law. Disputes unresolved via negotiation will proceed to mediation or courts.
18.8. Waivers : Must be in writing; delay does not waive rights.
18.9. Severability : Invalid clauses do not affect the rest.
18.10. Entire Agreement : This document constitutes the entire agreement.
18.11. Variation : Changes require written agreement.
Annex I – Prohibited Business Model
You are NOT allowed to send or receive payments for:
- Alcohol sales
- Fake or counterfeit IDs, visas, licenses
- Infringing intellectual property
- File sharing services
- Weapons (guns, knives, ammunition)
- Material inciting violence, hatred, racism
- Pornography or adult content
- Prepaid or stored value cards not linked to specific transactions
- Precious stones or metals
- Illegal drugs or steroids
- Pyramid schemes, MLM, high-yield schemes
- Satellite or cable descramblers
- Shell banks
- Tobacco products, e-cigarettes, e-liquid
- Timeshares or property reservation payments
- Unlicensed gambling
- Unregistered charities or NGOs
- Unregulated Forex brokers
We reserve the right to update this list as necessary
Annex Ii – Data Addendum
1. General
1.1. The terms “processing”, “personal data”, “data controller”, “data processor”, and “data subject” have the meanings set out under applicable Data Protection Legislation.
1.2. We may amend this DPA without prior notice; updates are posted on our website.
2. Data Protection Principles
2.1. We design our Services with IT security and Data Protection in mind, acting as data processor and controller as applicable.
2.2. You provide personal data for the purposes of this Agreement, which we process to perform Services.
2.3. Both Parties acknowledge their roles, with us acting as a data processor on your instructions, and Thissometimes as a data controller.
2.4. We will process personal data only as instructed, implement security measures, assist with data subject requests, and return or securely destroy data upon termination.
2.5. We may subcontract data processing, subject to contractual obligations.
2.6. Both Parties shall process data lawfully and cooperate on data protection matters.
2.7. You will ensure data subjects’ rights and provide necessary notices and consents.
2.8. You will provide evidence of compliance upon request.
3. Processing Details
Subject matter | Performing payment services and initiating Payment Orders, complying with AML and regulatory rules.
Duration | The term of the Agreement unless legal obligations require longer.
Nature & Purpose | Use of personal data to process payments and related activities.
Type of Data | ID, date of birth, passport number, address, financial details, transaction info, IBAN, email, etc.
Data Subjects | Customers, representatives, beneficiaries.
Return & Destruction | Data remains in compliance with applicable regulations; no specific deletion process established.
Ryzen Ventures LLC
Company Registration: 400408377
License Number: GT/111024/01
Website Designed, Maintained and Hosted by C4D Technology.