Terms of use

Definitions

1. General

   1. Aiia is a product owned and operated by Aiia A/S (“Aiia”, “we”, “us”, “our”), a limited liability company registered in Denmark, registration number 33509006 and company website, https://aiia.eu/., is a payment institution with a granted licence from the Danish Financial Supervisory Authorities, Finanstilsynet, to provide payment initiation services and account information services.
   2. Aiia’s registered office address is: Artillerivej 86, st. tv., 2300 Copenhagen, Denmark.
   3. These Terms of Use apply for access to and usage of the Services (as defined in section 2 below) provided by Aiia. It is a condition for using the Services that the user, whether an individual or a legal person through a representative of that legal person, (“Aiia User” or “you”, “your”) accepts the Terms of Use. The Terms of Use constitute an agreement between the Aiia User and Aiia. By using our services, you and Aiia will enter into an agreement being the Terms of Use together with other terms you accept by using the Services (“Agreement”). You confirm that you have read and understood the Terms of Use.
   4. The Service may only be used by individuals who are 15 years of age or older. One-time users (as defined in section 3.3 below) may use the Data Sharing if they are 13 years of age or older.
   5. When using our Services, you acknowledge that information about you is collected from your bank and processed by us in accordance with, and for the purposes set out in the Aiia Privacy Policy.
   6. You may view an up-to-date copy of this Agreement at any time at: https://aiia.eu/ or request us to send the latest version of the Terms of Use to your email address.

2. Aiia Services

   1. Our services will allow you to either a) use our account information services to obtain and share financial information from your online bank or payment account (“Data Sharing” or “Aiia Data”) and/or b) use our payment initiation services where we support the execution of payment transactions directly from your online bank account in a simplified and secure way (“Payment Initiation” or “Aiia Pay”). (jointly referred to as the “Services” and further explained in the sections below).
   2. Aiia Data and Aiia Pay are provided to you through any of our integration partners that provide one or several of their own services to you (“Integrator”).
   3. These Terms equally apply when you access your profile via our online platform (“Aiia Hub”) from which Aiia Users can access their account information, transactions activities and, where relevant, see with which Integrators you have associated your Account. You can access Aiia Hub here: https://aiia.eu/.
   4. To use the Services, you must be the holder or representative of a holder of one or several payment accounts (“Payment Accounts”) held with one or several account service providers being your financial institution, payment card provider or another provider of Payment Accounts (“Bank”).
   5. A prerequisite for the performance of Services is that the Payment Accounts are accessible online. The Services can access / communicate with a wide array of Banks but yours may not be among them.

3. Aiia Hub profile

   1. You will have an Aiia Hub profile to get an overview of your usage of the Services. To create a profile you either sign up directly on Aiia Hub or you are redirected from the Integrator to Aiia Hub. Creating a profile requires you to enter your email address.
   2. Every time you login to Aiia Hub, we will send you a single-use password (six digits) to your email address with which you need to login.
   3. You can share your Account Information/associate your Payment Accounts with an Integrator for only one time (“One-time user”). As a One-time user, a temporary Aiia Hub profile where you can access your Account Information on the Aiia Hub is available for 24 hours from the time of sharing with the Integrator to get an overview of your Account Information. Within the 24 hours you have the option to create a permanent Aiia Hub profile.
   4. For certain usage of the Services i.e. Payment Initiation, it might be required to have an Aiia User and having provided us with certain identification

4. Aiia Data

   1. Aiia Data allows for an Integrator to receive aggregated / compiled online information e.g. account name, account balance and transaction history from one or more of your Payment Accounts (“Account Information”) with your explicit consent. You share Account Information by associating your Payment Accounts with the Integrator.
   2. To associate Payment Accounts with an Integrator, the Integrator will redirect you from their user interface to our interface. From here, you will need to login to your Payment Accounts, using the login credentials or other security credentials required by your Bank (“Login Credentials”). The Login Credentials needed may vary, depending on your Bank. If you have access to more than one Payment Account with the same Bank, you will be asked which Payment Accounts you wish to associate with the Integrator. For each Integrator you have associations with, you will be asked to associate a minimum of one Payment Account.
   3. When you associate a Payment Account with an Integrator within the Services, we will send a confirmation email to the email address you have provided when creating your profile. This does not apply to One-time users.
   4. When associating one or more of your Payment Accounts with an Integrator, you consent to a) the Services collecting Account Information from the Payment Accounts you choose and processing such Account Information and b) that we transfer Account Information from associated Payment Accounts to the Integrator in question.
   5. The time to collect Account Information may vary depending on the time required for the identification towards the Bank and the volume of information to be collected.

5. Payment Initiation

   1. Aiia Pay is a payment initiation service allowing you to request an initiation of a payment order directly from your Payment Accounts.
   2. Before requesting a payment initiation, you instruct an Integrator to make an online payment using Aiia Pay. After having instructed the Integrator, you will be redirected to Aiia.
   3. Upon redirection to Aiia, you need to confirm the details of the payment initiation, including 1) the amount, 2) the Payment Account from which you wish to initiate the payment, and 3) the details of the receiver of the payment (“Payee”), (together “Instruction”). The Integrator may, depending on the functionality chosen, provide us with information regarding the Payee and the amount. It is your responsibility to ensure the correctness of the Instruction.
   4. By requesting that we provide the payment initiation, you give your explicit consent to us providing you the payment initiation.
   5. We will present to you a list of Banks from which you choose which you want to initiate from. It is an integral step of the initiation that you login to your Bank using your Login Credentials. You then select the Payment Account from the list of available accounts presented to you.
   6. Aiia Pay will forward your Instruction to perform the Payment Initiation to your Bank. Using the Service to initiate payment means that you agree that we forward the Instruction to your Bank.
   7. We will provide you with confirmation, a reference number and the amount of the transaction, when the Instruction has been accepted by you and authorised by your Bank. If your Bank does not authorise the payment initiation, we will notify you about this as soon as possible.
   8. You are not able to revoke a payment initiation with us after having given consent to initiate the payment transaction.
   9. Your instruction to initiate the payment shall be considered to be received by us the same day as you have requested the Instruction. The execution of the actual payment transaction is performed by your Bank and may take place at a later date, depending on your agreement with your Bank.
   10. It is our responsibility to forward the Instructions to your Bank. Your Bank is responsible for executing the actual payment transaction. It is your responsibility that the Payment Account chosen by you has sufficient funds for performing the payment transaction and that the information you provide to perform the initiation is correct.
   11. Eligibility and availability: You can only use Aiia Pay if: 1) you fulfil the age requirement, 2) you have a Payment Account and Bank located in the EEA, 3) you provide us with accurate, complete and up-to-date information on your identity and any other information we may ask from you, 4) you agree to this Agreement and using our services in accordance herewith and 5) you agree to comply with all applicable laws and regulation.

6. Incorrect or unauthorised payments

   1. Where you suspect a payment initiation has been executed without your approval or that it has been performed incorrectly, you are responsible for, without undue delay after becoming aware of it, reporting it to your Bank according to the instructions provided by them. Failing to notify may result in you becoming liable for the payment transactions.
   2. You may be entitled to a refund of the incorrect or unauthorised payment from your Bank provided that you notify them of the incorrect or unauthorised payment without delay and in any event no later than 13 months after the date of the relevant payment. You must contact your Bank.

7. Receive Payments

   1. Receive Payments functionality
      1. As an Aiia User you can integrate Aiia Pay to enable you to receive online payments directly from the payers’ Payment Accounts to improve your own services or products.
      2. To receive payments you either 1) have an agreement with a Technical Integrator or 2) you have agreed to the Service Terms with Aiia on the integration of Aiia Pay into your own services or products.
      3. In order for the Aiia User to be able to receive payments, the payer has to either accept our Terms and Privacy Policy, or sign up with Aiia. It is within payers’ control if they choose to initiate a payment, and Aiia is in no regard responsible or liable for payers initiating payment to the Customer.
      4. Where the payer is a consumer and the Inbound Payment is due to distance-trade between you and the payer, you shall, unless this has been done prior to the payment initiation, immediately and no later than at the transaction date, ship the goods or initiate its service.
      5. It is a prerequisite for you as an Aiia Users to receive payments, that you provide Aiia with the necessary information on your account with a Financial Institution for receiving payments. Aiia can only initiate payments to verified accounts. Aiia verifies the accounts by validating the ownership and identity of the account holder. You cannot receive any payments before verification is completed and where the result does not raise any suspicions.
      6. You are fully responsible for ensuring that only relevant payments are made available for initiation by the payer through the Services.
   2. Chargeback
      1. In regard to the Receive payment functionality, Aiia User shall fully adhere to applicable chargeback legislation.
      2. If relevant for the Aiia User, e.g. in relation to payer initiated chargeback requests or otherwise, Aiia will to a reasonable extent assist the Aiia User in obtaining relevant information on initiated payments, where available to Aiia, provided this does not conflict with Aiia’s obligations of confidentiality towards the payer or a third-party, and provided that Aiia is otherwise legally allowed to provide such information.
      3. Aiia may require a reasonable payment for its work in relation to such assistance, cf. section 5 (Service Fees and payment) and may, where Aiia deems this necessary, demand such payment to be made in full or in part in advance.

8. Use of the service

   1. As an Aiia User you are responsible for the ability to connect with and use the Services, including acquiring, installing and maintaining usable software, web-services and operating systems and hardware that are needed in order for you to use the Services. You are also responsible for compatibility between your updates or new versions of software and hardware where this is necessary for you to use the Service.
   2. You will do your utmost to abide by, and you are solely responsible for complying with, all applicable laws when using the Services. When you are processing information on behalf of data subjects, you are fully responsible for obtaining any necessary consent in full compliance with the applicable legal requirements and rules or ensuring other legal basis for the use of the Services and the account information.
   3. The Services are provided “as-is”, and Aiia makes no warranty as to your use of the Services. The Aiia User assumes any and all risk of using the Service. Aiia provides no guarantee that the Services meet your specific requirements or for data quality, uptime or other metrics except as specifically described in these Terms. Aiia has done its utmost to ensure that the Services abide to all applicable laws.

9. Fees

   1. Your use of the Services is provided free of charge by us. Fees may however be imposed by Integrators, your internet or mobile access provider or your Bank, where you make use of Payment Initiation. Such fees are solely a matter between you and the third party.

10. Access your data and activities

    1. Aiia users can access Aiia Hub at any given moment to provide you with an immediate overview of your usage of Services such as associated Integrators, associated Payment Accounts, the activity log for Integrators associated with your profile, payments initiated by you, etc.
    2. From Aiia Hub you can further
       • Change or add the Accounts associated with each Integrator. Changes may influence which information is shared with the Integrator and how the functionalities of the Integrator’s services are provided.
       • Remove association with Integrators, i.e. recall your consent to Aiia to transfer Account Information to such Integrator. If you remove association with an Integrator, the Integrator will no longer obtain your information through the Service.
    3. We encourage you to, on a regular basis, to review available information and associated accounts and to remove associations with Integrators you no longer use.

11. Security measures

    1. Aiia unilaterally reserves the right to take appropriate measures, keep records of or suspend a transaction in the event of suspected illicit or criminal activity. This may include suspicion of abuse, fraud or money laundering. We undertake to investigate any usage irregularities as soon as possible. We shall not be liable to you or any third-party for blocking or suspending the payment initiation. We will notify you as soon as possible, if legally allowed, via the website and/or your Aiia Hub email address.
    2. You agree to abide by the security requirements regarding Login Credentials set out by your Bank and/or provider of the security credentials. If you suspect any abuse of Login Credentials, you must immediately contact your Bank.
    3. Any transaction executed via the service with the use of Login Credential shall be deemed carried our by the authorised owner of the account. You are responsible for protecting your Login Credentials from abuse and failing to do so might result in you becoming liable for unauthorised transactions.
    4. All communication made by you when using the service are encrypted and Login Credentials is only forwarded to the selected bank but is not stored. Access to and use of the Services is logged and, e.g. information on from which IP addresses your profile is accessed from is registered together with and failed attempts to login to your profile.
    5. If you suspect any form of abuse of your use of the Services, please contact our support immediately: support@aiia.eu.

12. Obligation to provide information

    1. The Payment Initiation is subject to due diligence and monitoring for the purposes of complying with applicable regulations regarding anti-money laundering and financing of terrorism. The policies and practices applied are constantly reviewed and may vary from time to time depending on conditions pertaining to transaction patterns, geographical position etc. For the purposes of complying with applicable regulations, records may be kept, and additional information may be requested in order to establish matters such as identity, purpose of the payment transaction and origin of funds.
    2. By executing an initiation, you undertake to provide Aiia without undue delay with any and all such information as may be deemed necessary for these purposes and recognise that non-compliance with such requests may result in refusal to complete an initiation or other consequences.

13. Intellectual property rights

    1. We hold all rights to the Services. This includes, but is not limited to, copyrights, proprietary rights, and trademark rights to the Services and the Aiia Hub.
    2. You retain the rights to all material and information that you provide to the Services, but you grant us a non-exclusive, right to use this material so that we can provide our Services.
    3. As an Aiia User, you are granted a non-exclusive right of use to the Services, including the Aiia Hub, in accordance with the agreement.

14. Operations

    1. Aiia shall perform Services in due time. However, since the Services are dependent on third parties, including Integrators and Banks, no guarantees can be made as to time of performance of the Services.
    2. We strive to avoid errors, defects and disruptions of the Services, regardless this may occur. We encourage you to inform us if you experience any dysfunctions and we will seek to remedy such matters as soon as possible.
    3. Maintenance and updates on the Services are performed on an ongoing basis. During maintenance and updating, certain or all features may become temporarily unavailable. As part of an update, one or more features may be removed from the Services.
    4. To the extent reasonably possible, information of expected major disruptions of the Services will be provided to you in advance, either on the website or by email. The same applies to the possible removal of functions. We are not obliged to provide such information.

15. Withdrawal of consent

    1. You may withdraw one or more of the consents you have given us at any time. This can for example be regarding retrieval of Account Information from certain Payment Accounts. Withdrawal of consent may be exercised within the website, and you may also withdraw your consent by contacting support@aiia.eu. Please notice that when you have initiated a payment through the Service, you cannot revoke such instruction, cf. section 5.8.
    2. Withdrawal of one or more of your consents may impair the use of the Service or the website, or even make the Service or the website unusable. Further, Integrators may be impaired or unusable if you withdraw your consent for Aiia to transfer Account Information to such Integrator.
    3. If you have questions or requests regarding an Integrator’s processing of your data, e.g. if you wish to withdraw a consent given to such Integrator, or if you wish to make use of your legal rights regarding such processing, you should contact the Integrator in question.

16. Liability

    1. We cannot be held liable for your use of the Service or the website at any time, including but not limited to any acts or omissions that are made based on information obtained from the Service or the website. Your use of the Service and the website, as well as the use of the information you obtain or provide to third parties using the Service and or the website, is your own responsibility and at your own risk.
    2. We shall not be liable for the products or services provided to you by or through the Integrator and will not be liable to you for any harm, damage or loss arising from your use of the products and services provided by or through the integrator.
    3. We shall never be liable for non-compliance with the Agreement or for damages or losses in case of force majeure or caused by circumstances beyond our control, for example, virus outbreaks or hacker attacks, crashes or errors in communication systems, power failure, government interventions or restrictions, court injunctions, strikes or lockout, subcontractors' force majeure and other unforeseen events that we could not reasonably predict or avoid.
    4. We are not liable to users of the Service and/or the website in the event of errors, defects, malfunctions or removal of functionality besides what follows on Aiia’s liability under applicable law.
    5. If we, regardless of the above, should be liable, our total liability to an Aiia User shall not exceed an amount corresponding to such amount which the user may have paid for the use of the Service during the 12 months prior to the occurrence of the claim, and such liability can never exceed an amount of DKK 50,000, unless otherwise is stated in mandatory law.

17. Communication between Aiia and you

    1. You accept that communication between you and Aiia may be online or through email. We communicate in English or Danish. The Agreement has been entered into in English.
    2. Where relevant, we may send you information or notification regarding the Services, e.g. with confirmations or regarding changes to these Terms of Use via the email address you provided in your profile.
    3. If your contact details change, you should tell us as soon as you can. You are responsible for maintaining and regularly checking your email inbox for notifications.
    4. With your consent, we may also send newsletters, messages about new features and other material related to Aiia to your email address and/or via push messages.

18. Changes to this Agreement

    1. We may change the Terms of Use at any time and without prior notice. Any changes affecting Payment Initiation shall however, if they are unfavourable to you, be changed only upon a two months’ prior notice via the email address you have supplied when creating your Aiia Hub Profile.
    2. If you do not agree with the proposed change(s) to the Terms of Use, you must tell us at support@aiia.eu before that change(s) takes effect and you will have the right to terminate the Agreement at any time before the changes enter into force. If you do not contact us to request termination, we consider that you have accepted the change(s) to the Agreement.

19. Term and Termination

    1. If you do no longer wish to use the Services, you may delete your Aiia Hub profile, and thereby terminate the Agreement, at any time without notice.
    2. For One-time users, the Agreement is terminated immediately after use of the Services.
    3. We may terminate the Agreement at any time by giving you a two (2) months’ written notice.
    4. If you have not logged into your profile or made use of the Services during a period of one (1) year, the Agreement shall be considered terminated by you and we will delete your profile. Prior to deleting your Aiia Hub profile, we will provide you with a notice to your email address.
    5. We may at any time and without notice suspend or terminate your use of the Services if you are in material or repeatedly breach of the Agreement. Material breach shall include abuse, or attempt to, abuse the Services or other users’ profiles, actions or omissions by you which could lead to damages to Aiia or any third-party as well as any other illegal behaviour. We will, where circumstances allow for this, notify you of suspension of the Agreement.
    6. Deleting your profile will permanently delete or anonymise all data including your information associated with Aiia Data. Data regarding or related to Payment Initiation will be stored as required by law and in accordance with the Aiia Privacy Policy, which you can find here: Aiia Privacy Policy

20. Miscellaneous

    1. We have the right to transfer our rights and obligations under the Agreement.
    2. You have the right, upon request, to receive a copy of these Terms of Use. Contact us at support@aiia.eu with your request.
    3. If any provision of these Terms of Use is found invalid or unenforceable by any court or administrative body, such shall not affect the other provision of these Terms of Use which shall remain in full force and effect.
    4. Depending on which Services are provided to the Aiia User, additional terms and conditions may supplement these Terms of Use. In case of a contradiction between these Terms of Use and such special terms, the special terms shall prevail.

21. Requests, Suggestions and Complaints

    1. We care about our Aiia Users and we are keen to answer any questions or to know if you are dissatisfied with the service. Therefore, if you wish to discuss any issue regarding our Service, or you wish to make a complaint, please contact us, at: support@aiia.eu (state “Complaint” in the subject field). Written complaints can also be directed to:
       
       Aiia A/S
       Artillerivej 86, st. tv.
       2300, Copenhagen Denmark
       
       
    2. You have access to complain to our regulator, the Danish FSA, to be contacted at:
       
       Finanstilsynet (Danish FSA)
       Aarhusgade 110
       2100 København Ø
       
       www.dfsa.dk/
       +45 33558282
       finanstilsynet@ftnet.dk

22. Governing law and disputes

    1. The Agreement shall be governed by the laws of Denmark. If you reside in another EU/EEA country other than Denmark, in which the law (“National Law”) provides you with mandatory rights, such rights shall not be affected by this clause.
    2. Except where prohibited by your National Law, any dispute regarding the Agreement or your use of the Service, shall be settled by the ordinary courts of Denmark.

23. Version

    1. These Terms of Use were issued in April 2021 and are valid until new terms are issued.