Payment Processing Services Agreement
1. Introduction
This document outlines the terms and conditions that apply when you use your Five ID for payment authentication. We refer to these as our "Payment Processing Terms" (or simply "Terms" throughout this document).
These Terms, together with the Five ID Terms and Conditions and any other applicable terms, form a legal agreement between:
"you", the account holder; and
"us", Five ID
By using our Five ID to authenticate payments, you agree to these Terms. It is important that you understand those terms. If you have any questions please reach out to us at support@five.id.
These Terms apply to users of the Services in the United Kingdom and Ireland. Certain provisions may apply differently depending on the jurisdiction in which the Services are provided to you.
2. Who We Are
Five ID is a limited company registered in England under company number 15793519. Our registered office is located at 1 St Katherine's Way, Office 06d146, London, England, E1W 1UN.
3. Using Our Service
We refer to the payment processing services we provide under these Terms as the "Services". To access the Services, you must have an active Five ID account. If your Five ID account is closed, you will no longer be able to use the Services.
To use the Services you must apply and be approved by us. As part of the application, you will need to onboard onto a Five ID supported payment method. For example, if you select direct debit, you will need to agree to a direct debit mandate or other supported payment mandate processed by our authorised payment partners in accordance with the applicable payment scheme. You must ensure that this mandate remains active when authorising payments and continues to stay active until the funds have been successfully debited from your linked bank account.
Transaction Authorisation: All transactions authenticated using your palm at a Five ID terminal are deemed authorized by you, subject to your rights under applicable payment services legislation, granting us and our processing partners authority to initiate the corresponding debit.
Transaction Aggregation: We may aggregate multiple purchases into a single transaction, e.g. a single direct debit in accordance with applicable payment scheme rules.
Pre-Notification: We will notify you via text message before debiting your bank account, ensuring transparency.
4. Fund Requirements
Sufficient Funds: You must ensure that there are sufficient funds in your linked account to cover purchases.
Failed Payments: If a payment from your bank account fails due to insufficient funds or any other reason, we will:
Make reasonable further attempts to collect funds and may charge a late payment fee of up to £30 (or €35 for Services provided in Ireland).
We may charge reasonable administrative costs and interest on overdue amounts as permitted under applicable law.
Block the Service until all outstanding funds, including any additional fees, are repaid.
Request you to transfer funds using a supported bank transfer method available in your jurisdiction.
Debt Recovery: We reserve the right to refer any outstanding payments to a third party for recovery, and any additional fees incurred will be your responsibility. Any such recovery will be conducted in accordance with applicable law.
Credit Reporting: Unsettled payments may be reported to credit reference agencies, potentially impacting your credit score, or equivalent credit information bodies in accordance with applicable law.
5. Transaction Restrictions
Blocking Transactions: We may block transactions due to insufficient funds, exceeding spending limits, unresolved previous funds collection, legal restrictions, or suspected fraudulent/criminal activity.
Notification: If we block a transaction, you will be informed via text message.
6. Spending Limits
Spending limits are set based on your bank account balance and transaction history and may be adjusted over time.
7. Merchant Relationship
We are not merchants, nor do we sell, endorse, or assume liability for any goods or services purchased from participating retailers.
8. Purchase Protection
If you have any issues with a Five ID transaction, you have 120 days from the transaction date to contact us at dispute@five.id. We will assist you in the resolution process. This does not affect your statutory rights under applicable payment services legislation.
9. Usage Restrictions
Geographic Restrictions: The Service is designed for use exclusively within the United Kingdom and Ireland.
Age Limitations: You must be at least 18 years old to use this Service.
Bank account: You are required to have a bank account located in the United Kingdom or Ireland, in a financial institution we support, in good standing, and to have access to mobile banking on your phone.
Phone number: You must have a valid phone number capable of receiving text messages in order to use this service.
Debt: You must not have an active court judgment, insolvency order, or equivalent legal enforcement order registered against you in the jurisdiction where the Services are provided.
10. Liability and Warranties
Service Provision: We warrant to provide our services with reasonable care and skill.
Limitations of Liability: Our liability in connection with this Agreement is limited to direct losses only. We are not liable for indirect or consequential losses, including loss of profit, revenue, or data, or for damages arising from transactions with merchants, inability to use our services, or events beyond our reasonable control.
11. Canceling Payment Processing Services
If you wish to discontinue the use of Five ID's payment processing services while maintaining your Five ID account, you can request to cancel payment services at any Five ID terminal or by contacting support@five.id. Once canceled, you will no longer be able to authorize payments using Five ID, but you will still be able to use your palm for identification with any other Ancillary Services you are registered for. Any pending transactions must still be completed, and we will retain necessary records as required by law.
12. Termination and Suspension
If you breach any terms of this agreement, we reserve the right to suspend or terminate your access to our Services.
13. Change to the service
This Agreement is accessible on our website. If any amendments are made, we will provide you with appropriate notice unless the changes are urgent or required by law. If you do not agree with the changes, you can close your account by contacting us at support@five.id.
14. General Provisions
Severability: If any part of these terms is found to be invalid or unenforceable, the remainder will continue in effect.
Jurisdiction: These Terms are governed by the laws of the jurisdiction in which the Services are provided. If you use the Services in:
The United Kingdom, the laws of England and Wales apply and the courts of England and Wales shall have jurisdiction.
Ireland, the laws of Ireland apply and the courts of Ireland shall have jurisdiction.
Payment Processing Services Agreement
1. Introduction
This document outlines the terms and conditions that apply when you use your Five ID for payment authentication. We refer to these as our "Payment Processing Terms" (or simply "Terms" throughout this document).
These Terms, together with the Five ID Terms and Conditions and any other applicable terms, form a legal agreement between:
"you", the account holder; and
"us", Five ID
By using our Five ID to authenticate payments, you agree to these Terms. It is important that you understand those terms. If you have any questions please reach out to us at support@five.id.
These Terms apply to users of the Services in the United Kingdom and Ireland. Certain provisions may apply differently depending on the jurisdiction in which the Services are provided to you.
2. Who We Are
Five ID is a limited company registered in England under company number 15793519. Our registered office is located at 1 St Katherine's Way, Office 06d146, London, England, E1W 1UN.
3. Using Our Service
We refer to the payment processing services we provide under these Terms as the "Services". To access the Services, you must have an active Five ID account. If your Five ID account is closed, you will no longer be able to use the Services.
To use the Services you must apply and be approved by us. As part of the application, you will need to onboard onto a Five ID supported payment method. For example, if you select direct debit, you will need to agree to a direct debit mandate or other supported payment mandate processed by our authorised payment partners in accordance with the applicable payment scheme. You must ensure that this mandate remains active when authorising payments and continues to stay active until the funds have been successfully debited from your linked bank account.
Transaction Authorisation: All transactions authenticated using your palm at a Five ID terminal are deemed authorized by you, subject to your rights under applicable payment services legislation, granting us and our processing partners authority to initiate the corresponding debit.
Transaction Aggregation: We may aggregate multiple purchases into a single transaction, e.g. a single direct debit in accordance with applicable payment scheme rules.
Pre-Notification: We will notify you via text message before debiting your bank account, ensuring transparency.
4. Fund Requirements
Sufficient Funds: You must ensure that there are sufficient funds in your linked account to cover purchases.
Failed Payments: If a payment from your bank account fails due to insufficient funds or any other reason, we will:
Make reasonable further attempts to collect funds and may charge a late payment fee of up to £30 (or €35 for Services provided in Ireland).
We may charge reasonable administrative costs and interest on overdue amounts as permitted under applicable law.
Block the Service until all outstanding funds, including any additional fees, are repaid.
Request you to transfer funds using a supported bank transfer method available in your jurisdiction.
Debt Recovery: We reserve the right to refer any outstanding payments to a third party for recovery, and any additional fees incurred will be your responsibility. Any such recovery will be conducted in accordance with applicable law.
Credit Reporting: Unsettled payments may be reported to credit reference agencies, potentially impacting your credit score, or equivalent credit information bodies in accordance with applicable law.
5. Transaction Restrictions
Blocking Transactions: We may block transactions due to insufficient funds, exceeding spending limits, unresolved previous funds collection, legal restrictions, or suspected fraudulent/criminal activity.
Notification: If we block a transaction, you will be informed via text message.
6. Spending Limits
Spending limits are set based on your bank account balance and transaction history and may be adjusted over time.
7. Merchant Relationship
We are not merchants, nor do we sell, endorse, or assume liability for any goods or services purchased from participating retailers.
8. Purchase Protection
If you have any issues with a Five ID transaction, you have 120 days from the transaction date to contact us at dispute@five.id. We will assist you in the resolution process. This does not affect your statutory rights under applicable payment services legislation.
9. Usage Restrictions
Geographic Restrictions: The Service is designed for use exclusively within the United Kingdom and Ireland.
Age Limitations: You must be at least 18 years old to use this Service.
Bank account: You are required to have a bank account located in the United Kingdom or Ireland, in a financial institution we support, in good standing, and to have access to mobile banking on your phone.
Phone number: You must have a valid phone number capable of receiving text messages in order to use this service.
Debt: You must not have an active court judgment, insolvency order, or equivalent legal enforcement order registered against you in the jurisdiction where the Services are provided.
10. Liability and Warranties
Service Provision: We warrant to provide our services with reasonable care and skill.
Limitations of Liability: Our liability in connection with this Agreement is limited to direct losses only. We are not liable for indirect or consequential losses, including loss of profit, revenue, or data, or for damages arising from transactions with merchants, inability to use our services, or events beyond our reasonable control.
11. Canceling Payment Processing Services
If you wish to discontinue the use of Five ID's payment processing services while maintaining your Five ID account, you can request to cancel payment services at any Five ID terminal or by contacting support@five.id. Once canceled, you will no longer be able to authorize payments using Five ID, but you will still be able to use your palm for identification with any other Ancillary Services you are registered for. Any pending transactions must still be completed, and we will retain necessary records as required by law.
12. Termination and Suspension
If you breach any terms of this agreement, we reserve the right to suspend or terminate your access to our Services.
13. Change to the service
This Agreement is accessible on our website. If any amendments are made, we will provide you with appropriate notice unless the changes are urgent or required by law. If you do not agree with the changes, you can close your account by contacting us at support@five.id.
14. General Provisions
Severability: If any part of these terms is found to be invalid or unenforceable, the remainder will continue in effect.
Jurisdiction: These Terms are governed by the laws of the jurisdiction in which the Services are provided. If you use the Services in:
The United Kingdom, the laws of England and Wales apply and the courts of England and Wales shall have jurisdiction.
Ireland, the laws of Ireland apply and the courts of Ireland shall have jurisdiction.