To exceed this limit, the User’s identity must be verified using authoritative documents, upon the implementation of said verification, the new limit will be EUR 10,000 (or equivalent foreign currency amount) for accumulated payments made from or received into their payment account. The block of the User account may be revoked after security of User Account is restored. For these purposes, any account that has not initiated a payment (either within the application or with a card or through a POS terminal) for three consecutive months will be considered inactive. At the Bank of Lithuania cash offices, exchange unlimited amounts of litas banknotes and coins of all issues, starting from 1991, free of charge. The User using Verse services is prohibited from: The User shall reimburse all direct damages, fines, and other monetary sanctions applied to Verse due to non-observance or violation of the Contract due to fault of the User. Verse will not put an account into a negative balance by removing the bonus. In the case of renewal of the Verse card, upon its expiration date, a new Verse card will be sent by post to the customer, with thirty calendar days prior to said date, applying, in each case, the renewal conditions applicable for individuals at that time. Data relating to the User’s name and profile photo associated with their User Account form their User Profile, and may be seen by other Users that have installed the Application which the User expressly authorises. The first electronic money institution licence was granted to UAB Verse Payments Lithuania, a subsidiary of the US company Verse Technologies, Inc. Also notable is that the firm is an official partner of the Wise Guys Fintech 3 accelerator programme, which is an initiative set up to encourage startups to set up in Lithuania. The User may only withdraw funds to an account within the payment service provider operating in European Economic Area. For your convenience, providers of least-costly services are also made available. Lietuvos bankas „Verse Payments Lithuania“ už netinkamą klientų lėšų apsaugą skyrė 30 tūkst. If Verse becomes aware of an unauthorised payment transaction, Verse shall return the amount of the unauthorised payment transaction to the User and, where appropriate, restore the balance of the User Account, from which the amount has been debited, to the point before the unauthorised transaction was carried out, unless Verse has reasonable grounds to suspect fraud. Notwithstanding the foregoing, Verse reserves the right to cancel or modify the validity date of the Verse cards during the term of their validity, as well as not to renew them upon expiration, with the User having revoked all rights related to its use. Verse may also remove the rewards from Users’ accounts if we believe they were earned in a dishonest or unfair manner. Address . Therefore, Verse will remove the bonus received from inactive accounts. In any event, the User will be informed of the applicable exchange rate through the Application, and can reject it if not in agreement. Bank of Lithuania issued three new electronic money institution licences. Each new User will receive one invitation when a card is added to the Application. The first electronic money institution licence was granted to UAB Verse Payments Lithuania, a subsidiary of the US company Verse Technologies, Inc. The user will be responsible for the false or inaccurate data provided and for the damages, direct or indirect, that this could cause Verse or other third-parties. The notification must be submitted immediately (within 5 business days of finding out about the circumstances mentioned in this paragraph) and in any case no later than within 60 calendar days of the day on which Verse, in the opinion of the User, executed an unauthorised payment transaction or incorrectly executed a payment transaction. Free Provision of Services of Electronic Money Institutions with head office … I like big and juicy mangos. The User may submit any claim or complaint regarding the payment services of Verse by sending a notification via the Application, e-mail (hello@verse.me) or in writing to the customer support service for Verse Payments Lithuania UAB (Lvovo 105A, 08104 Vilnius, Lithuania). The currency of the User’s account will be that of the country of the phone number used to register. If a third party knows the User’s PIN and makes use of the Verse card, the acts that the third party performs will bind the User, assuming the cost and risk of such operations and dispositions, without Verse being able to assume any responsibility. Payment service provider The company that provides the payment serves governed by Conditions is Verse (Verse Payments Lithuania UAB), a company incorporated in the Republic of Lithuania with company number 304932396 and whose registered office is … If the payment order submitted by the User does not contain enough data or contains deficiencies, Verse, regardless of the nature of the deficiencies in the payment order, can refuse to execute such payment order, or can execute it in accordance with the data provided in the payment order. The User may request money from any contact in the contacts list on their mobile phone whose mobile phone number is linked to their User Account. Where the User requests to terminate the Contract, Verse shall issue to such User free of charge via the Application or e-mail the User Account statement containing information on payment transactions executed in User Account within the last 36 months. It may also limit the User’s withdrawals. Verse Payments Lithuania UAB pažeidė minėto įstatymo reikalavimus, kadangi dalį klientų lėšų laikė elektroninių pinigų įstaigose. If approved they will be assigned a business account. Find out what requirements you must meet and what actions you should take. Send money to their contacts listed in the contacts list on their mobile device. VERSE PAYMENTS LITHUANIA UAB. Receive and withdraw payments made by other Users that have your mobile phone number saved in their contacts list. The telephone number linked to the Smartphone where the Application has been downloaded to will constitute the identification credential for the Application User and shall serve as an identifier for the transactions that are conducted by the User via the Application. Collector and commemorative coins issued by the Bank of Lithuania. Insight of Bank of Lithuania economists and analysts on key economic issues. Taking into account the request of the US company Square Inc. and having assessed the information received, the Supervision Service of the Bank of Lithuania did not object to the indirect acquisition of the electronic money institution Verse Payments Lithuania, UAB, licensed in Lithuania. Business accounts will receive written confirmation from Verse of their permission to operate as a business account. These general conditions (hereinafter Conditions) and their amendments, together with any other legally relevant terms and information, related to the use of the services provided by Verse, shall be made available to the user at all times within the Application, without prejudice to the information being sent to the User or appearing on websites of Verse. The bic / swift code provides information about the bank and branch where the money should be transferred. To this end, the User must enter the exact sum they wish to receive into the Application and select the contact from their contacts list from whom they wish to receive payment, thereby authorising Verse to send a request to that User via the Application asking them to proceed to order payment under the terms requested or reject it. Verse reserves the right to take the relevant legal action against any Users that violate or infringe its intellectual and/or industrial property rights. In the event of the failure to settle disputes by way of negotiations, they shall be settled before courts of the Republic of Lithuania in accordance with the procedure set out by laws of the Republic of Lithuania. Free Provision of Services of Electronic Money Institutions with head office in the EU. 31. „UAB „Verse Payments Lithuania“ pažeidė minėto įstatymo reikalavimus, kadangi dalį klientų lėšų laikė elektroninių pinigų įstaigose“, – pažymima LB pranešime. The User expressly accepts that Verse may save the contracts and orders signed on its secure servers, by way of telematic delivery, and use them as proof of execution. Verse Payments Lithuania UAB Lithuania * Pursuant to Item 601(b)(21)(ii) of Regulation S-K, the names of other subsidiaries of Square, Inc. are omitted because, considered in the aggregate, they would not constitute a significant subsidiary as of the end of the year covered by this report. It is expressly agreed that the terms relating to the execution period and value date shall only apply to payment operations performed in Euros in which both payment service providers are located in the European Union. Read More Using the Application, the User may make payments to the User Accounts of the other Users of the Application listed in the contacts list on their mobile phone for the number linked to their Account. eurų baudą. Supervision of financial market participants, These terms and conditions are prepared in English language and all communication between the User and Verse is performed in English language. The expenses incurred must be justified by the holder before any authorities that require it, and Verse will not be liable for any breach by the holder. Once the 5 invitations have been used, the system will automatically generate new invitations based on the correct use of the Application. The Verse card is a prepaid VISA card issued by Verse (the issuer of the card is PECUNIA CARDS EDE S.L.U. The group consists of 28 companies operating in North America, Europe, Asia and Australia. However, Verse may apply a monthly fee of €3 to inactive accounts. Request money from their contacts listed in the contacts list on their mobile device. The User assures that all their actions related to the execution of the Contract will comply with the applicable law. Payment order is filled in and submitted through the Application. Press releases and important media stories prepared by the Bank of Lithuania. UAB Verified Payments Nov 2019 - Present 1 year 6 months. 1 of 1. With the issuance of the Verse card, Verse provides a personal identification number (hereinafter PIN), which the User, if applicable, may modify and that will be required for the authorisation of the payment transaction, in order to prove that they are the legitimate owner of the Verse card. The authorised payment order is considered received immediately. Survey: do payment service providers investigate consumer complaints appropriately? The purpose of the rewards program and all other Verse bonuses is to encourage existing Verse users to help share the App with family and friends. Should they wish to use a different number, they must open a new User Account. The company plans to carry out activities in. The User must check all activity carefully and immediately notify Verse via e-mail or phone and without delay if said activity includes anything that seems incorrect or has not been conducted according to their instructions. Said use includes the total or partial reproduction of the Application exclusively in the form of its use, downloading, execution and display on a Smartphone. The User is responsible for checking that the Application is compatible with their Smartphone, and is therefore liable for any damage that may arise from the use of the Application, including its installation on the Smartphone. La empresa VERSE PAYMENTS LITHUANIA UAB, con domicilio fiscal en Lvovo g. 105A, Vilna, República de Lituania, y con código de compañía 304932396, ha organizado esta campaña titulada “Sorteo Moto Eléctrica”. Want to set up a financial institution? Afterwards, the User also is able to send a reminder via SMS or mobile application ‘Whatsapp’ In the event that the contact selected by the User to send the payment is not a User of the Application, they will be sent an invitation via SMS in the name of the User to download and register with the Application. The User bears all losses relating to unauthorised payment transactions, if such losses were incurred because of his failure to fulfil one or several duties specified in subparagraph 6.1. After the User submits a notification, as specified in subparagraph 6.3, Verse bears the losses of the User incurred due to the lost, stolen, or illegally acquired payment instrument, with the exception of the cases when the User acted fraudulently. The consent of the User for the execution of the transaction shall be submitted prior to the execution of the payment transaction. The User shall have the right to terminate the Contract by notifying Verse of the termination within the immediate effect. If applicable, the User will respond for the breach of said regulations, and no responsibility can be attributed to Verse. eurų baudą Lrytas.lt verslas Rinkos pulsas Lietuvos banko Finansų rinkos priežiūros tarnyba elektroninių pinigų įstaigai „Verse Payments Lithuania“ už netinkamai įgyvendintus klientų lėšų saugojimo reikalavimus skyrė 30 tūkst. These General Conditions of Access and Use govern the access and the use of the services provided by Verse Payments Lithuania UAB (hereinafter Verse) to its users (hereinafter User) via the computer application for mobile devices “Verse” (hereinafter Application) and constitute the conditions under which Verse provides the available payment services. If the User fails to notify Verse of unauthorised or incorrectly executed payment transactions within the time limit established above, it shall be considered that the User has unconditionally confirmed payment transactions executed in the User Account. Existing User: a person who has an active account with Verse. revolving cards) will also be subject to fees. The maximum total amount of operations that may be carried out will be determined, at any time, by the amount available in the User Account. Compliance Officer at Verse Payments Lithuania, UAB The Bank of Lithuania is the financial supervisory authority of the Republic of Lithuania, address Gedimino pr. The User will be considered to have accepted the modification if they have no deleted their account before the new terms come into effect. Šis mokėjimo būdas toks pat saugus kaip ir įprastas, pavyzdžiui, per internetinę Verse reserves the right to block the execution of a payment order or to block a User in case of irregular use of services in contravention of established terms or in case of fraudulent use of not authorized use of the Application. Activo. Verse also has the right to request the User to fill in and periodically update the User’s questionnaire. Momentinių mokėjimų paslauga, skirta bendrą mokėjimų eurais erdvę (SEPA) sudarančioms Europos valstybėms. Lėšos laikomos elektroninių pinigų įstaigose nėra draudžiamos indėlių draudimu. For payment operations that involve currency conversion and currency exchange services, the exchange rate will be calculated based on the currency sale or purchase rates, as applicable, by Visa International and available on its website (here) on the date the operation is executed, unless the parties agree to apply a different exchange rate. Square Inc., which provides payment and financial services, is listed on the NY stock … Research and analysis conducted by the Bank of Lithuania related to envisaged legal regulation. Verse will provide the User with notice of service confirmation immediately following the successful completion of the data registration and verification process, by sending an email, SMS or notification within the application. The establishment of the commission for new services shall not be treated as the worsening the User’s situation.

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