GENERAL TERMS AND CONDITIONS FOR USE OF THE SERVICES THROUGH PAYOO SYSTEM FOR PREPAID CARDS AND PAYMENTS

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1 GENERAL TERMS AND CONDITIONS FOR USE OF THE SERVICES THROUGH PAYOO SYSTEM FOR PREPAID CARDS AND PAYMENTS 1. INTRODUCTION 1. These General Terms and Conditions determine the content of the contract between you and Paynetics AD in connection with the use of services through PAYOO System for Prepaid Cards and Payments. 2. These General Terms and Conditions are an important document because they regulate the relationship between you and Paynetics AD in respect with the provision of services through PAYOO System for Prepaid Cards and Payments, and establish the procedure for using this system, your rights and obligations, and the consequences of failure to meet them. 3. We advise you to carefully read this document prior to registering with PAYOO System for Prepaid Cards and Payments, opening a Paynetics Account and using the services of the system. If there is anything in these General Terms and Conditions that you do not understand or want to clarify, please contact us by or visit 4. You acknowledge and accept these General Terms and Conditions by ticking the I Agree box when performing the procedure to open your Paynetics Account. By doing so, you agree to enter into a contract with Paynetics AD under these General Terms and Conditions and express your unconditional consent to comply with the conditions and obligations referred to therein. Your agreement to these General Terms and Conditions shall be electronically provided through your electronic statement. Ticking the I Agree box in the performance of the procedure to your Paynetics Account will have the meaning of an electronic signature within the meaning of the Electronic Document and Electronic Certification Services Act, and by accepting these General Terms and Conditions, you agree that the legal effect of your electronic signature so affixed is equivalent to the one of a handwritten signature. 2. DEFINITIONS In this document: General Terms and Conditions shall mean this document together with Fee Tariff of Paynetics AD (hereinafter referred to as the Fee Tariff ), Privacy Policy, and any other Appendices explicitly stated herein, which form an integral part of the General Terms and Conditions and are accessible on Paynetics we, us, our shall mean Paynetics AD, having its headquarters and registered office situated in the City of Sofia, Sofia Municipality, Lozenets District, 76A James Bourchier, Ground Floor, registered with the Commercial Register kept by the Registry Agency under UIC Paynetics AD is an electronic money company holding a license for conducting business as an electronic money company issued by the Management Board of the Bulgarian National Bank by Decision No. 44 of 11 April 2016, and it is registered with the register kept by the Bulgarian National Bank, which is accessible on The Bulgarian National Bank supervises the activities of Paynetics AD. PAYOO SYSTEM for Prepaid Cards and Payments shall mean an electronic online system named PAYOO for issuing, storing and carrying out payment transactions with electronic money and related opening and maintaining an electronic money account, for issuing prepaid cards, payments made by them, for collecting and exchanging data, which system is owned by Paynetics and is developed, operated and maintained by Paynetics (hereinafter referred to as PAYOO System or PAYOO Electronic Wallet ); PAYOO Services are the services offered by Paynetics via the PAYOO System. Electronic Money shall mean the nominal value of funds provided by you, which are stored in electronic form, including magnetic form, in the information system of Paynetics. The electronic money are issued by entering their holder, amount, issue date and other data according to the electronic money register stored in the information system of Paynetics. Issued electronic money are recorded in your 1

2 Paynetics Account and may be used to carry out payment transactions by a Paynetics Card or through your Paynetics Account up to the amount of their limit, which may be replenished or repeatedly replenished, or redeemed by you; Paynetics Account shall mean an electronic money payment account maintained by Paynetics in your name in the PAYOO System, which: stores your electronic money, and is linked to your Paynetics Card, and to which amounts are replenished in accordance with these General Terms and Conditions, and which is used to carry out payment transactions in accordance with these General Terms and Conditions; the Paynetics Account shall be maintained in BGN. Paynetics Card shall mean a payment instrument in the form of a prepaid payment card issued by Paynetics in your name or in the name of a person authorized by you. The card shall bear the Mastercard logo, shall be linked to your Paynetics Account in the PAYOO System and pursuant to these General Terms and Conditions, a payment order shall be submitted using it. The Paynetics Card may be physical or virtual. MasterCard shall mean MasterCard International Incorporated or its successors. Balance shall mean electronic money replenished in your Paynetics Account by of one of the methods of replenishment referred to in these General Terms and Conditions and reduced by the amount of payment transactions carried out by you, fees payable by you under the Fee Tariff and the minimum required balance in the account. The minimum required balance shall be included in the account balance, but shall be deducted from the amount available for use by the Card / Account; Member shall mean a person meeting the requirements of these General Terms and Conditions, who has opened a Paynetics Account in the PAYOO System and has been approved by Paynetics pursuant to these General Terms and Conditions. 'Exchange Rate' shall mean the exchange rate used by us in all currency transactions, published on our website and which may be amended from time to time by us in accordance with these General Terms and Conditions. Payment shall mean any of the following acts: any payment made by your Paynetics Card; debiting an amount from your Paynetics Account and at the same time crediting such amount to a Merchant's account or to an account of another Member specified by you; crediting an amount to your Paynetics Account and at the same time debiting a Merchant s Account or another Member's account. Payment Transactions shall mean a POS transaction, internet transaction, an order for payment to a third party's bank account, or a P2P transaction; PIN shall mean your personal identification number issued or approved by us to be used by your Paynetics Card. CVC2 shall mean a three digit code or password for Secure Internet Payments issued for each card. CVC2 is a strictly personalized code for access to funds available in the card that is entered via a virtual POS. Each entry of CVC2 through a virtual POS serves as proof of the identity of the user of the Card. Merchant shall mean a person offering goods and services, who accepts payments by a Paynetics Card and/or from a Paynetics Account. Card Organization shall mean Mastercard International ( Mastercard ), VISA Europe ( VISA ) or any other association or organization maintaining a card payment system applicable under these General Terms and Conditions, including any affiliate, subsidiary or successor of any of them, in which Paynetics is a member and has the right to issue cards and accept payments, including by Cards accepted by such card organization. Prohibited Transaction' shall mean any of the following types of transactions or activities: 1. any sales of pyramid type, Ponzi schemes or similar marketing or matrix programs or other schemes for quick enrichment or highyield investment programs; 2. the sale, supply or purchase of illegal objects or objects promoting or facilitating illegal activities; 3. the sale, supply or purchase of counterfeit products or products infringing intellectual property rights; 2

3 4. products or services for the processing or aggregation of payments by third parties; 5. money laundering; 6. financing or propaganda of terrorism; 7. pornography, escort services and selling and/ or advertising sexual services; 8. use of PAYOO Services in a way and/or for purposes that violate applicable law and/or regulations of a Card Organization; We reserve the right to add other categories of prohibited transactions by adding such categories either to these General Terms or to a separate document posted on the Website. Website shall mean or any other website that provides access to the PAYOO System. Agent shall mean Intercapital Group AD, having its headquarters and registered office situated in the City of Sofia, Triaditsa Distrcit, 35 Vitosha Blvd., Entrance A, Floor 1, registered with the Commercial Register kept by the Registry Agency under UIC , VAT ID No. BG , represented by Nadezhda Emilova Bogoeva Executive Director and Vanya Dimitrova Chervenkova Chairman of the BoD, which is registered with the register kept by the BNB as an agent of Paynetics AD for distribution and redemption of electronic money in the territory of the Republic of Bulgaria. Cashterminal PAYOO shall mean a portal co branded between Paynetics and the Agent, providing access to the PAYOO electronic wallet. The Cashterminal Payoo portal operates via the terminals to the Processing System when replenishing the electronic money account of the customers in the PAYOO System with funds by cash inpayments, and by the smartphone application and/or Cashterminal PAYOO application when making payments through the PAYOO System. Processing System is a single based server software system for accepting and reporting Cashterminal payments, operated and maintained by the Agent, which provides acceptance and reporting of payments through terminals (external devices, cash applications, tablets, etc.). Terminals are means of communication owned by the Agent, including external devices, cash applications and applications for tablets, which provide the acceptance of cash inpayments and/or the access to the PAYOO System. External Device is a terminal device of KIOSK type, which ensures the acceptance of cash inpayments and/or access to the PAYOO System. Cash Application is web based software, intellectual property of the Agent intended for stationary computers, which through the Processing System of the Agent provides acceptance and reporting of cash payments and/or access to the PAYOO System. Application for Tablets is web based software, intellectual property of the Agent, which enables mobile cashiers provided with tablets to accept cash inpayments and/or have access to the PAYOO System through the Processing System of the Agent. Application for Smartphones is software developed by Paynetics and its intellectual property enabling to make payments by means of mobile phones through access to PAYOO Electronic Wallet. Cashterminal PAYOO Web Application is software developed by Paynetics and its intellectual property enabling to make payments by means of computers through access to PAYOO Electronic Wallet. 'Subscription Payment' a service in which a Member has instructed us to make regular payments from their account to a merchant at regular intervals. POS Terminal Device (POS Terminal) is a device by which payment of goods and services, reference and other payment and nonpayment transactions are made, by using a payment or prepaid card. Virtual POS Terminal Device (Virtual POS Terminal) is a logically defined POS terminal device by which transfers to payment accounts, payment of goods and services, reference and other payment and non payment transactions are implemented via the Internet, ATMs or digital phones when using a payment or prepaid card online. АТМ Terminal Device (Automated Teller Machine) is a device for withdrawing and/or depositing cash, payment of services, effecting transfers between payment accounts, of reference and other payment and non payment transactions. LPSPS is the Law on Payment Services and Payment Systems applicable in the Republic of Bulgaria. 3

4 Contract shall mean the contract between you and Paynetics under these General Terms and Conditions. You, your the person who has accepted and is bound by these General Terms and Conditions. 3. MEMBERSHIP 1. In order to become and remain a Member, you must be eligible for membership, which requires from you to: a) have a permanent residence in Bulgaria or in another Member State of the European Union; and b) have reached at least 18 years of age and have the capacity to enter into a legally binding contract, and c) have requested to open a Paynetics Account in accordance with the instructions indicated on the Website, as well as you have provided all necessary information as specified in the Website, and d) have passed all of our required identification procedures and identification and security checks, and e) have provided us with a valid and functional address and phone number, and f) not have a previous Paynetics Card that has been unilaterally closed by us and you are not in violation of these General Terms and Conditions. 2. We cannot accept your Paynetics Account application if you are not eligible in accordance with the conditions outlined in Paragraph 1 above. If you are not eligible, please immediately stop all attempts to register with us. 3. We will review your application as soon as possible, and your Paynetics Account will be in a wait status until we complete our inspection and activate your Paynetics Account. We also have the right to reject your application at our sole discretion. 4. During the period of review of your application or at any time in the future, in connection with your Paynetics Account and Paynetics Card, including for the purposes of prevention of fraud and/or money laundering: (a) we may ask you to provide written evidence to prove your identity, address, origin and/or sources of funding for replenishing your Paynetics Account and Paynetics Card, if such has been requested, and (b) we can perform checks/verification of your identity electronically, either directly or through the use of appropriate third parties, such as service providers for verification of identity. 5. When we perform checks/verification of your identity, your personal information may be disclosed to third parties that are duly certified to perform similar checks/verification by the relevant competent authority. These checks are identity checks and, therefore, they will not adversely affect your credit rating. However, such third parties may make a record of the information that may remain in their records as evidence that a check has been carried out for verification of identity. 6. We will accept your application for opening of a Paynetics Account when we send you a notice of activation by SMS/e mail, at which time it will be considered that there is a contract between you and us, which contract will be valid for: three years following the date of entry into force of the contract (contract period). 7. It is necessary to immediately update your personal data that we hold, if you change your name, address, address, mobile phone number, payment card or bank account information. We will not be liable for any damages arising out of your omission to do so and any communication sent to the e mail address specified by you, or telephone number, respectively, shall be considered as duly received by you. 8. When you download or access to a mobile application related to the PAYOO System, data will be used to which your existing data usage agreement with your mobile operator shall apply and there may be fees payable to your mobile service provider via your mobile phone. For more details, you should consult your mobile service provider regarding your data usage agreement. 9. You may not open more than one Paynetics Accounts with us unless we have explicitly authorized you to do so. We reserve the right, without prior notice, to close all your accounts and terminate our contract with you if we reasonably suspect that you have more than one Paynetics Accounts with us without our authorization. 4

5 10. We reserve the right to immediately close your Paynetics Account and terminate our contract with you if we have reason to believe that you or your Paynetics Account do not comply with these Terms and Conditions. We rely entirely on your assurance that you are eligible and that you will comply with these General Terms and Conditions. 4. DESCRIPTION OF THE SERVICES PROVIDED THROUGH THE PAYOO SYSTEM 1. After you have activated your Paynetics Account and your Paynetics Card, if such is requested, subject to the availability of appropriate technical equipment and in accordance with these General Terms and Conditions in each individual case, you can use your Paynetics Account and/or your Paynetics Card within the available funds to carry out payment transactions. 2. You may use your Paynetics Account and your Paynetics Card only in person, and you may not grant their use to anyone else, and you may not sell or transfer to third parties the right to use them. If you allow access to your Paynetics Account and/or your Paynetics Card to another person(s), you will assume full responsibility for all transactions initiated by such person(s). You may issue an additional card to a person designated by you, and you will assume full responsibility for all transactions initiated by that person(s). 3. You may not use your Paynetics Account and your Paynetics Card as a means of trading or for commercial purposes, unless you have received prior written approval from us. 4. You need to make sure there are sufficient available funds in your Paynetics Account to cover the amount of a payment transaction and all applicable fees. We may refuse to perform a transaction if you do not have sufficient available funds to cover the amount of the payment transaction and any applicable fees. It is forbidden to initiate payment transactions whose value exceeds the current balance in your Paynetics Account. If any action taken by you results in negative balance in your Paynetics Account, you are obliged to recover the respective amount ensuring a positive balance in the account, and we are entitled to take all necessary steps in accordance with these General Terms and Conditions for the collection of amounts due by you. 5. In respect of the use of your Paynetics Account, please refer to Article 5 of these General Terms and Conditions. 6. In respect of the use of your Paynetics Card, please refer to Article 6 of these General Terms and Conditions. 7. By accepting these General Terms and Conditions, you agree that we are not a bank and your Paynetics Account is not a bank account; no interest will be charged on your Paynetics Account balance; the funds available in your Paynetics Account are not a deposit and you have no right to claim any interest. we will deduct the value of your transactions, including those made by your Paynetics Card, from your Paynetics Account balance. We will also deduct all applicable fees as soon as they become due by you. 8. If you have an available balance in your Paynetics Account, although you are not required to maintain a balance, all funds representing that balance are divided and separated from the funds of the other members of the PAYOO System and from our own funds, in accordance with the requirements of LPSPS. 9. Paynetics has the right to change at any time: a) the authentication methods used to verify your identity and used by you and Paynetics to sign electronic documents with binding effect to the parties; and b) the scope of services offered by Paynetics at any time, as well as by excluding the possibility of their use on your part in the case of newly introduced technical characteristics of the services, regulatory changes or for safety reasons, or for other reasons. Paynetics will promptly notify you in writing or electronically of any such changes. 10. You may not use our services in a manner that does not comply with the provisions of the applicable legislation, the requirements of the relevant Card Organization and these General Terms and Conditions, including you must not: a) provide us with untrue, inaccurate or misleading information; b) fail to provide us with information reasonably requested by us; 5

6 c) act in a manner that could undermine the credibility of the PAYOO System or the payment system as a whole; d) make any attempts to interrupt or harm the functionality of the PAYOO System, including, but not limited to: you must not distribute files that contain viruses, corrupted files or any other similar software or programs that may be used to access, modify, delete or damage data files, as well as you must not carry out and not try to carry out hacking, modification, damaging, interference or otherwise harming the security or functionality of the Payoo Service. e) carry out a transaction or act that is a Prohibited Transaction under these General Terms and Conditions; or which is being carried out for commercial or business purposes. f) refuse to cooperate in an investigation related to your Paynetics Account and your Paynetics Card; g) violate the intellectual property rights, rights of publicity or privacy of any person in connection with the use of our services. h) adhere to obscene, cruel, insulting, or unlawful behavior against us or any of our representatives, Members, customers, or partners; 11. You shall be fully responsible for all goods or services you have purchased by using our Services. Any dispute with a merchant about a product or service that you have purchased through the PAYOO Services shall be between you and the merchant. We shall assume no responsibility and we shall not provide any warranties regarding such goods and services, and we shall not be responsible for their quantity and quality. All such disputes should be addressed directly to the Merchant providing the respective goods or services. 12. Each time you use your Paynetics Card to pay for goods or services, you have the right to claim against the merchant, if the goods or services have been unsatisfactory, have not been supplied, or have been supplied only partially, or do not correspond to the description of supplier. We must be notified of any dispute within 30 (thirty) days of the purchase. Your account will be credited with the amount of the dispute only when the amount has been successfully recovered from the merchant via MasterCard. MasterCard, not us, will determine who will win the chargeback procedure. If you bring an unfounded claim for damages against a Merchant through us, we will have the right to charge you the reasonable costs that we have incurred for the administration of such claim and will have the right to debit your account for the amount of those costs. 13. In order to use the Terminals to the Agent's Processing System, you must have accepted the Agent s General Terms and Conditions that are available on the Website. 14. We reserve the right to refuse to authorize a payment transaction in the event that it does not meet the requirements of these General Terms and Conditions or violates the provisions of a regulatory act or regulations of a Card Organization. In such case, we will immediately inform you of the reasons for that refusal, unless this is prohibited by a regulatory act. 15. We shall not be liable in the event that a merchant refuses to accept your Paynetics Card or if we have not allowed a particular payment transaction in accordance with these General Terms and Conditions. 5. USE OF THE PAYNETICS ACCOUNT 1. The status of your Paynetics Account may be one of the following: (a) active with activated functionalities; (b) temporarily suspended due to temporary suspension of our services; (c) inactive if no activity is reported for a period of 6 months; (d) canceled when your contract with us is terminated. 2. You may only use your Paynetics Account if it is active. 3. Your Paynetics Account can be replenished in the following manners (methods of replenishment): (a) * / forthcoming / transfer from a personal bank account held in your name; or (b) use of your credit card; or (c) use of your debit card / prepaid card; or 6

7 (d) by making cash inpayments at terminals to the Agent s Processing System providing acceptance and reporting of cash payments and/or having access to the PAYOO System; (e) by bank transfer indicating your account or token in the reason for replenishing your Paynetics Account. We reserve the right to refuse to accept a specific replenishment transaction or to deactivate a specific method of replenishment without prior notice to you, in view to preventing frauds, money laundering or any other illegal activity. 4. Each time when you replenish your Paynetics Account with funds, you agree that you will not subsequently cancel, contest, or cancel the respective payment. By adding a card as a method of replenishment when using the PAYOO Services, you grant us an unlimited power to debit this card for the respective funds to replenish your Paynetics Account and implement payment transactions in accordance with these General Terms and Conditions. You may revoke this power granted to us in respect of any card by removing that card as a method of replenishment of your Paynetics Account. 5. In the event that any of the payments to your Paynetics Account is canceled or adjusted, the amount will be deducted from the balance in your Paynetics Account and will be refunded to the original sender. Without prejudice to our rights and legal remedies, if a payment is cancelled or annulled in violation to Paragraph 4 above, you shall be liable to immediately refund the payment to your Paynetics Account. If it is not possible to reduce the balance of your Paynetics Account, we may, at our sole discretion, refund the amount of the cancelled payment by redebiting your card or your bank account specified as a method of replenishment or otherwise collecting the amount payable to us. 6. in the event that the balance in your Paynetics Account is negative due to cancellation or adjustment to transaction of replenishment of the account, or due to implemented transaction of a greater amount than the amount of funds available in your Paynetics Account, or for any other reason, you shall be obliged to recover in full the negative balance by depositing funds to your Paynetics Account to bring the balance to zero. If you fail to do so, you will violate these General Terms and Conditions. You agree to immediately pay us the outstanding amount upon request. It is possible that, at our sole discretion, we will refund the amount by debiting your card or your bank account specified as a method of replenishment or otherwise collecting the amount payable to us, including by automatically debiting the outstanding amount from all inpayments, which subsequently make to your Paynetics Account. We will be entitled to charge you for all reasonable expenses incurred by us as a result of a negative balance in your Paynetics Account. 7. The maximum balance of your Paynetics Account is limited to a total amount of BGN 30,000 / thirty thousand/ ( Account Limit ). After we have carried out an additional inspection and you have provided the necessary additional documents and information, you can request an increase in such limit, whereas we have the right to reject your request at our sole discretion. 8. If, as a result of a replenishment transaction, the Account Limit is exceeded, the transaction will not be approved. 9. If your Account Limit has been exceeded in any way and is not reduced within 15 (fifteen) days, your account will be temporarily suspended and your access to the PAYOO services will be recovered after carrying out a thorough check of your transactions in your Paynetics Account and collection of further information. 10. To all amounts with which you want to replenish your Paynetics Account the respective charges and currency exchange rates relating to the relevant method of replenishment chosen by you shall apply in accordance with the Fee Tariff. 12. Instructions on how to replenish your Paynetics Account are available on the Website. 13. You must use your Paynetics Account only in accordance with these General Terms and Conditions and the applicable law. 14. Your Paynetics Account is linked to your Paynetics Card, and by payment transactions carried out by this card, along with fees due, balance available in your Paynetics Account is reduced. 15. P2P transactions may be carried out by your Paynetics Account: payment transactions initiated by you to transfer funds from your Paynetics Account to an account with Paynetics of other user of the PAYOO System, and utility bills of utility suppliers with which the Agent has entered into a contract, including subscription payments, may be made. 16. You may make payments directly from your Paynetics Account to a merchant indicated on the Website or to another Member by following the steps described on the Website. 17. Any payment made from your Paynetics Account, along with the applicable fees, may not exceed the funds available in your account and it will lead to debiting the account for the amount of the payment and the applicable fees. If the balance of your Paynetics Account is not sufficient, the payment will not be made. 7

8 18. All payments made to your Paynetics Account will credit your balance in your Paynetics Account, net of the corresponding fees. 19. All payments to and from your Paynetics Account are subject to fees and exchange rates in case of conversion as described in the Fee Tariff. 20. If you want to close your Paynetics Account, you must notify us in writing. 21. Subscription payments are made if your consent to regular payment of certain goods or services is provided to the respective merchant. In such cases, your payment will be deducted from your Paynetics Account at regular intervals of time. The amount and intervals of time of the Payment will be determined by you. We shall not be responsible for any subscription payment the amount of which has been deducted from your Paynetics Account before you have notified us of the cancellation. Any subscription payment that has already been made to a merchant may not be canceled. Each subscription payment is a Payment within the meaning of these General Terms and Conditions, and the usual fees apply to any such payment. 6. ISSUE AND USE OF A PAYNETICS CARD 1. Immediately after signing a Contract with us you have the opportunity to apply for a virtual or physical Paynetics Card. We reserve the right to refuse to issue a Card(s) at our discretion. You may also issue additional cards to persons specified by you. 2. Your Paynetics Card electronically stores a monetary value that can be used to make payment transactions. 3. You may spend only the funds which you have replenished to your card. Each time when the card is used, the value of the corresponding payment transaction, along with the applicable fees, shall be deducted from the funds available in the card. 4. Your Paynetics Card is property of Paynetics as a card issuer and cannot be transferred and/or made available to anyone. 5. If you receive a physical card, you are required to sign on the back of the card. 6. The card contains the following information: period of validity; unique card number, cardholder name, currency and CVV. 7. When you receive your Paynetics Card it will be inactive. You must activate the card prior to starting using it. Otherwise, any transactions you are trying to perform will be rejected. The card shall be activated online by following our instructions for activation available on the Website 8. Your physical card may be used on any device that accepts cards bearing the Mastercard brand, while your virtual card may be used only for online transactions or such carried out by telephone through mobile applications. 9. Each time you use your card to carry out a transaction: 9.1. Your Paynetics Account must contain sufficient funds to implement the payment transaction and pay the due fees; 9.2. The merchant receiving the payment must be able to verify and confirm your ability to implement the transaction with it; 9.3. The terms and conditions of the merchant in favor of which you make a payment or such of the supplier of the ATM device must be complied with. 10. It is possible that some merchants will not accept payments made by Paynetics Cards. It is your responsibility to check the policy of each merchant. We do not assume any responsibility if a merchant refuses to accept a payment by a Paynetics Card. 11. The amount that you may spend with your Paynetics Card may be limited by us and/or according to the regulations of the respective Card Organization, or by the policies for accepting payments of the relevant merchant. 12. Merchants in certain business sectors (e.g. car rental companies, hotels and other service providers) have the practice to estimate the potential funds that you can spend with them and to require retention of the total amount of the potential funds so estimated. In some cases, that total may exceed the amount you have effectively spent. In such cases, the initially withheld funds in your Paynetics Card may be held for up to 15 days and the amount will not be available to you. We may release such amounts only with the Merchant's consent. 8

9 13. Resources available in the Paynetics Card may be accessed through all virtual POS in the Internet environment, through POS devices that accept cards bearing the logo of MASTERCARD or through the Website. 14. Any payment transactions with the Card shall be made after an automatic check of the funds available in your Paynetics Account and upon authentication of your identity. 15. Each card has a period of validity. If it has not been canceled earlier by you or by us in accordance with these General Terms and Conditions, the card will expire on the date on which its validity period expires. All transactions initiated after the expiration or cancellation of the Card will not be allowed and implemented. 16. Upon expiration of the validity period of your card, we will automatically renew only the cards that have been used within 6 months prior to expiring the validity period. 17. In the event that your Card is lost, stolen or damaged, we will replace it at your request by charging a Replacement Fee that will be deducted from your account. If a card was reported lost, stolen or misappropriated and you have subsequently found it, you must immediately inform us and destroy the Card. 7. APPROVAL OF PAYMENT TRANSACTIONS 1. You must approve each payment transaction at the time when it is initiated by you. Your order and payment consent shall be obtained from Paynetics in electronic form. 2. A request for redemption will be deemed to have been submitted by you when you contact us to request redemption as described in these General Terms and Conditions. 3. You shall send an irrevocable notice to Paynetics and agree to carry out the payment transaction, including you shall give unconditional consent and order to Paynetics to use your electronic money to implement the payment transaction requested in the value specified by you, as well as deduct any fees and commissions payable in relation thereto: 3.1 In case of payment by a physical card at a POS terminal by providing your Paynetics Card, placing it on the respective POS terminal and/or entering a PIN to effect the particular payment In case of payment of goods or services via the Internet by entering CVV2 number / three digit code of the card and the one time transaction code received by you For P2P transactions when after accessing your Paynetics Account through the Website and your authentication as a user by entering a password: (a) you select the data of the account with Paynetics, in which you want to transfer funds, and fill in all data specified in the form of order of transfer, which is available on the Website; and (b) you enter the one time code of the transaction received by you In case of payment transactions related to utility bills when after accessing your Paynetics Account through the Website and your authentication as a user by entering a password, you indicate in the form of payment, which is available on the Website, the bill you wish to be paid In case of transactions carried out by ATM by inserting the card into the ATM device and entering a PIN in the ATM device In the cases under Paragraphs 3.2. and 3.3, a one time code of the transaction is not required if the amount of the remote electronic payment transaction does not exceed BGN 60; and (a) the cumulative value of the previous remote electronic payment transactions, initiated by the payer since the last use of a one time code of the transaction with the aim of thoroughly establishing the identity of the payer, does not exceed BGN 100; or b) the number of previous remote electronic payment transactions initiated by the payer as from the time of the last use of a one time code of the transaction in view of more comprehensive identification of the payer s identity shall not exceed 5 consecutive individual remote electronic payment transactions; 9

10 4. You may withdraw or cancel your consent to a payment transaction at any time until it is received by us. The consent to carry out a payment transaction cannot be withdrawn or canceled by you after we have received it. 5. Your consent to a transaction will be deemed to have been received by us as follows: (a) for POS transactions and transactions implemented by POS terminal at the time when we receive the payment instruction from the merchant; (b) for P2P transactions and payment transactions for utility bills at the time when we receive the payment instruction from you through the Website; and (c) for request for redemptions at the time when we receive your request in accordance with these General Terms and Conditions. (d) For ATM transactions at the time when we have received a message from the ATM operator. 6. With a view to ensure additional security for Cardholders when executing online payments, We shall register all issued Cards for the service Secure online Payments (3 D Secure). Programmes of international card organisations for the service are MasterCard Secure Code and Verified by Visa. Upon each payment on seller's websites participating in the programmes MasterCard Secure Code and Verified by Visa, You will receive on your mobile number presented to us text message (SMS) containing a payment confirmation one time code. The entry of a payment confirmation one time code is additional identification, apart from the entry of a CVV2/CVC2 code of the Card. We are not liable and the losses suffered shall be at the expense of You in case of improper use of the Card in the Internet upon third parties' learning the code. We shall not be held liable for Your failure to receive the confirmation code, upon incapacity to deliver the notification from the relevant suppliers of mobile communications. We shall not be held responsible for a mobile phone number which has been wrongfully submitted by You. We shall not be a party in disputes on the payment conditions, delivery, price, warranty, insurances, etc. which You shall arrange directly with the seller. 8. IMPLEMENTATION OF PAYMENT TRANSACTIONS 1. We reserve the right to refuse to implement any payment transaction ordered by you, in the event that it does not meet the requirements of these General Terms and Conditions, including, but not limited to in the event of any of the following circumstances: 1.1. We have good reason to suspect that the transaction is unauthorized or involved in fraud or illegal activity; 1.2. You have not given us an exact order to implement the transaction or you have given us an incomplete order; 1.3. We have a good reason to believe that there has been a violation of our General Terms and Conditions; 1.4. For a reason related to compliance with rules and regulations of MasterCard ; 1.5. If you do not have sufficient funds in your Paynetics Account or if the transaction violates the limits set by us; 1.6. We are required to do so by law or by order of a regulatory body Due to a technical impossibility to carry out the transaction. 2. Merchants may not authorize a payment unless they obtain a permission from us. 3. It is your responsibility to provide us with a correct and accurate order for execution of a payment transaction. In the event that the instructions provided by you are incorrect, inaccurate or incomplete, we are not responsible for errors or inaccuracies in the transaction. Make sure that all instructions for the transaction are accurate. If a payment transaction is implemented in accordance with the instructions you have provided, it is deemed to be accurately implemented. We may be able to assist you in the recovery of unduly paid funds, but any such assistance that we provide, may be subject to fees. 4. Each payment transaction is final and irreversible, except at our sole discretion in the following situations: 4.1. An error on part of the merchant have been confirmed We have detected an illegal activity in connection with your account/card; 4.3. You have violated these General Terms and Conditions. 10

11 5. You are informed that in respect of some of your transactions different types and levels of verification and confirmation of your identity, source of funds, the nature and security of the transaction will be required, including the use of systems for validation and verification by third parties, and you agree that we have the right to apply such verifications, at our reasonable discretion, and to use and share the respective personal data with third parties for the purpose of verifying your identity and the nature and security of transaction. 6 You also agree that for security purposes some of our options to carry out transactions impose minimum and maximum limitations on the amounts that can be transferred. We reserve the right to impose limitations on the amount of each payment transaction and how often you may use a particular transaction option. These restrictions are subject to change in a current basis without prior notice. 7. The payment transactions ordered by you will be implemented within the maximum time periods set out in the Article 87 and 88 of LPSPS. The maximum period for execution of the payment transactions ordered with the Paynetics Card is determined by the rules of the card organizations and the card operators, subject to the deadlines laid down in the LPSPS. 8. The implementation of the payment transaction ordered by you may be delayed due to the performance of our obligations under the applicable anti money laundering laws, including if we suspect that the transaction is involved in frauds, illegal or unacceptable activities 9. If you order a payment transaction in a currency other than the currency in which your Paynetics Account is denominated, the amount deducted from your available balance will be the amount of the transaction converted in the currency in which your Paynetics Account is denominated, using the exchange rate determined in accordance with these General Terms and Conditions. 9. FEES AND EXCHANGE RATES 1. We will charge you for each payment transaction applying the fees listed in the Fee Tariff available on the Website. 2. By accepting these General Terms and Conditions, you allow us to debit your Paynetics Account for all applicable fees in relation to a Transaction. We may also charge you some administrative fees, including, but not limited to, in relation to the current administration of inactive accounts, fees for debt collection and proceeding in the event of a shortage of funds. All fees will be determined in the currency of your Paynetics Account and you agree that we can debit your account for any fees or other amounts payable to us and payable by you in connection with the PAYOO Services. All card fees will be determined in the currency of your Paynetics Account, regardless of the currency of the Transaction. 3. We reserve the right to change the fees due on a current basis in accordance with these General Terms and Conditions, and based on such changes, the procedure for modification of the General Terms and Conditions mentioned therein will be applied. Changes in the reference exchange rate shall apply immediately without prior notice. 4. Please note that some ATM providers apply additional charges for the use of their ATMs. It is your responsibility to check before proceeding with your transaction. 5. If you have funds in your Paynetics Account and have not made any transactions therein for a period of 6 months ( Inactive Account ), we will charge you an administrative fee. You will be notified thereof a month in advance by . The administrative fee will be deducted from the funds available in your Paynetics Account. For example: 5.1. When your Paynetics Account has been inactive for 6 months, we will apply an administrative fee for an inactive account. You will still have access to your Paynetics Account if you want to make a transaction in the future. For each subsequent month of inactivity, we will continue to charge an administrative fee If you have made any transaction, the next period of Inactivity will commence from the time of the transaction. After another 6 months of inactivity on your Paynetics Account, we will re apply the administrative fee for an inactive account (if there are sufficient funds). You will still have access to your Paynetics Account if you want to make a transaction in the future. 6. Five years after the date on which your account is closed, you will lose the right to any funds left unclaimed by you and the same will remain in favor of Paynetics. 7. Details of the amount of fees due are available on the Website where the Fee Tariff is posted. 8. When you complete the registration of your Paynetics Account, a Paynetics Account in BGN will be created for you, and all transactions and fees applied will be converted into BGN. 11

12 9. When you make transactions in a currency other than BGN, the amount of the transaction will be converted into BGN by default. The exchange rates used by us for similar transactions are those applied by Mastercard these exchange rates will have the meaning of a reference exchange rate within the meaning of LPSPS, and changes will be applied immediately in our relations, in conjunction with services subject to these General Terms and Conditions. The exchange rate will be determined on the day the final settlement of the transaction is made. A fee for foreign currency transactions as described in the Fee Tariff will also apply. 10. If you use the terminals to the Agent's Processing System, you may be charged the Agent's fees if such are provided for under the Agent's General Terms and Conditions. 10. COMMUNICATION PROCEDURE 1. Our Customer Relations Center is open from 9 a.m. to 6 p.m., EET, from Monday to Friday. You can find contact information on the Website. Information to contact us in case of lost or stolen or non functioning cards is available on the Website. We can record each conversation you have with the Customer Relations Center for monitoring purposes. 2. We will contact you in respect of any matter related to the Services by using the that you provided to us upon your registration. It is your responsibility to inform us of your current contact details. All communications and notices to you pursuant to these General Terms and Conditions are deemed to be delivered on the day of sending the respective e mail, unless the sending party receives an electronic notification that the was not delivered. 3. Will provide you with access to the required information about transactions in your Paynetics Account and Paynetics Card in a way that will enable you to store and reproduce that information unchanged, for example by printing a copy. You will be able to download electronic statements about payment transactions made by you and the history of transactions from the Website. We will not provide you with statements on paper. Information about your Paynetics Account and your Paynetics Card will be updated, if there was any activity in your account or card, including about all fees collected. By the time of the loading of the corresponding statement on the Website you will be considered informed of the relevant transaction, irrespective of whether you have actually downloaded the respective statement or not. We may charge you a fee for the provision of additional information other than the one required by the LPSPS or for its provision in a manner different from that described herein. 4. We recommend you to regularly consult the Website and periodically check the balance history of your account and your transactions. You can save a screenshot of each statement for your archive. Your statement will show: (a) information relating to the identification of each transaction; (b) the amount of each transaction specified in the currency in which it was paid or Paynetics's account was debited; (c) the amount of fees for each transaction; (d) the exchange rate (if any) applicable to each transaction; (e) where applicable, the amount of each transaction after currency exchange (if any); and (f) for each transaction, the date on which your order was received by us as described in these General Terms and Conditions. 5. This contract shall be entered into in Bulgarian and communication during the contract period shall be carried out in Bulgarian, and if you are not Bulgarian citizen in English; These General Terms and Conditions shall also be available in English, but in case of inconsistency/ discrepancy between their text in Bulgarian and English, the Bulgarian text shall prevail. 6. We recommend you to save a copy of these General Terms and Conditions for your archive. You may request from us at any time a copy of these General Terms and Conditions, as well as of the applicable fee tariffs and current limits and/or a statement of last transactions carried out by you, which we will provide you in electronic form on a durable medium. 12