LeuPay Service definition
LeuPay Service is a FinTech multi-banking web-based Platform for e-money and payment services, provided by Financial Institutions, licensed by the owner of the Platform to use the LeuPay Platform. The element of your Account which constitutes the e-money services, Card/s and payment functionality will be known as the "E-money account". The E-money account is the operational part of your Account through which you have access to funds and which can be used for the execution of payment transactions. The E-money account is provided by us under this Legal Agreement for LeuPay Account, concluded via the LeuPay Platform. To use LeuPay Account you have to subscribe and use LeuPay Service via the Website for the Service. Important Legal Notice: The e-money issued by us does not qualify as a deposit or an investment service in the sense of the Law and the Client is not protected by any Depositor Compensation Schemes provided by the competent compensation Schemes. Client is not entitled to interest on the balance of e-money or money collected and kept by us under this Agreement.
Examples of LeuPay Service in a sentence
You agree that LeuPay Service may set-off any of the amounts held in your e-money accounts or currency balances held or controlled by you with any fees, charges or other amounts you owe to any of the Financial Institutions or Member.
When you do not use LeuPay Service as a Consumer, you agree that all payment transactions with your LeuPay Account or Card or other payment instruments will be considered as authorized by you if they are registered in the system of the respective Financial Institution.