Terms and Conditions
These Terms and Conditions (hereinafter referred to as the “Terms”) and each of the documents We
refer to in them are our standard client agreement, which creates a legally binding agreement between
You (hereinafter referred to as “You” or the “Client”) and OKPAY FINANCE Ltd (hereinafter referred to as
“We” or “OKPAY FINANCE”) relating to the use of payment services provided by Us. References
hereinafter to the “Parties” are a reference to You and OKPAY FINANCE.
For Your own benefit and protection please read these Terms and each of the documents We refer to
carefully before accepting them. If You do not understand any provision contained herein, please do not
hesitate to ask for further information before proceeding.
If You have accepted the Terms and registered with OKPAY FINANCE system, it shall be deemed that You
have carefully read the Terms and any other documents We refer to in them, and thus You confirm that
all provisions set forth herein have been discussed with You, are clear and fully understandable to You
and You fully agree with them.
OKPAY FINANCE Ltd is a company incorporated in Canada with registered number BC1394795, whose
registered office address is at 13353 COMMERCE PARKWAY, UNIT 2353 OFFICE# 317 RICHMOND, BC,
V6V3A1, Canada. OKPAY FINANCE Ltd. is registered as Money Services Business (“MSB”) with the
Financial Transactions and Reports Analysis Centre (“FINTRAC”) (Reg. No.: M23344850).
You can contact us at out registered offices address: 13353 COMMERCE PARKWAY, UNIT 2353 OFFICE#
317 RICHMOND, BC, V6V3A1, Canada or also by email at: [email protected].
OKPAY FINANCE Ltd operates under the brand name Slyse.me (https://slyse.me)
1. Definitions and Meanings
1. Application is a form available on OKPAY FINANCE Website for registration in the System and Account
opening which should be filled in by the Client or its representative.
2. Business Day is any calendar day other than a Saturday or a Sunday or a public or bank holiday in
Canada, on which the payment infrastructures and the banks are open for business in Canada, or any
other holiday previously announced by OKPAY FINANCE.
3. Client is a private individual or legal entity in whose name Client Account is opened and maintained,
saving provisions of Cl. 3.4. Hereof.
4. Client Account is a payment account in OKPAY FINANCE system that the Client opens and maintains
through the Platform.
5. Client’s Identification is a set of Know Your Customer (KYC) and Due Diligence (DD) measures applied
by OKPAY FINANCE for the purposes to prevent money laundering and terrorism financing subject to
mandatory binding requirements of applicable Anti-Money Laundering and Counter Terrorism Financing
(AML/CTF) legal acts and regulations.
6. Client’s Representative is a person duly authorised by the Client to represent the Client in relationship
with OKPAY FINANCE and execute Payment Transactions of the name and for the benefit of the Client,
acting under a power of attorney or another legal base.
7. Customer Service is OKPAY FINANCE customer service, which the Client can reach by sending a
message to the email indicated on the Website in the “Contact Us” section.
8. FINTRAC means the Financial Transactions and Reports Analysis Centre of Canada, which address is
FINTRAC 24th floor, 234 Laurier Avenue West Ottawa ON, K1P 1H7 CANADA; further information on the
FINTRAC can be obtained on the website at https://fintrac-canafe.canada.ca/intro-eng. Telephone: 1-
866-346-8722 (toll free).
9. Fees are charges payable by the Client to OKPAY FINANCE for using OKPAY FINANCE services,
available on the Platform section “Fees”.
10. General Conditions of the Website are general conditions of use of the Website, including access to
the website and cookies use. The said conditions are available on the Website.
11. OKPAY FINANCE means OKPAY FINANCE Ltd, a company incorporated in Canada with registered
number BC1394795, whose registered office address is at 13353 COMMERCE PARKWAY, UNIT 2353
OFFICE# 317 RICHMOND, BC, V6V3A1, Canada. OKPAY FINANCE Ltd. is registered as Money Services
Business (“MSB”) with the Financial Transactions and Reports Analysis Centre (“FINTRAC”) (Reg. No.:
M23344850).
12. Order is an instruction given by the Client to OKPAY FINANCE Pay via the System for the purpose of
carrying out a Payment Transaction. An Order may not be withdrawn by the Client after the date on
which it is deemed irrevocable as indicated in these Terms.
13. Payer is a private individual or legal entity which executes payment for the benefit of the Client or
OKPAY FINANCE’s Client which submits an Order.
14. Payment Instrument is an electronic instrument allowing the Client to access to funds held in the
Client Account by using an electronic device and/or electronic communication channels. Payment
Instrument means, in particular, a money order, payment card, payment of funds, or virtual currency.
15. Party means the Client or OKPAY FINANCE, named together Parties.
16. Payment Transaction is a money transfer or a virtual currency operation initiated by the Client.
17. Payment Transfer is a payment transaction wherein funds are transferred to a payment account.
18. Personal Data means any information that relates to an identified or identifiable living individual,
also different pieces of information, which collected together can lead to the identification of a
particular person. Personal Data processing principles are defined in
OKPAY FINANCE Privacy Policy.
19. Platform is OKPAY FINANCE payment service environment that enables the Client to open and
maintain Client Account.
20. Privacy Policy is the OKPAY FINANCE internal policy governing the processing of personal data, which
is available on the Website, as may be amended from time to time. Privacy Policy is based on the
Personal Information Protection and Electronic Documents Act,SC 2000 c 5 (PIPEDA) (https://laws-
lois.justice.gc.ca/ENG/ACTS/P-8.6/index.html) and common good practice subject to Personal Data
protection.
21. Profile is the single, centralized place on the Platform to manage all information about the Client,
including Client Account number(s), ancillary services provided, personal and contact data, transactions
history, any special conditions and other required information.
22. Recipient is a private individual or legal entity specified in the Order as recipient of funds of the
Payment Transaction.
23. Read-only mode means the account status with limited functions, access to which the Client receives
after the phone and email registration and before full registration, identification and account opening
verification.
24. Services are the payment services that the Company is authorized to perform, including money
transferring, foreign exchange dealing, dealing in virtual currencies.
25. Strong Customer Authentication (SCA) is a verification method based on guidelines set down by
FINTRAC (http://www.fintrac-canafe.gc.ca ). The SCA involves using of two or more elements that are
independent, in that the breach of one element does not compromise the reliability of any other
element and designed in such a way as to protect the confidentiality of the authentication data. Rules
for Strong Customer Authentication are set in line with the Second Payment Services Directive (PSD2)
implemented across EU member states (Directive (EU) 2015/2366).
26. Terms and Conditions are the Terms and Conditions, published on the Website that may be
amended from time to time.
27. Website is the OKPAY FINANCE website available at www.slyse.me
28. Working Hours mean a time from 9.00 AM to 7.00 PM EET (Eastern European Time) on each
Business Day, when OKPAY FINANCE provides Services to the Clients, handles Orders and executes
Payment Transactions.
29. Withdrawal is removing funds from the Client Account which can be carried out over a period of
time in fixed or variable amounts within the established limit in the form of a money transfer only.
2. Subject and Scope of the Terms and Conditions
1. The subject of the Terms and Conditions is to provide the Client with OKPAY FINANCE services in
order to send and receive electronic money payments and other services provided by OKPAY FINANCE,
as well as conditions upon which the Client Account is opened and maintained (opening and closure).
2. The Terms and Conditions are concluded when the Client submits an Application for Client Account
services.
3. The Terms and Conditions is a contract between the Client and OKPAY FINANCE. It sets out the terms
and conditions that apply to the Client’s use of OKPAY FINANCE services.The Client agrees that the
Client’s use of OKPAY FINANCE services shall constitute the Client’s acceptance of the Terms and
Conditions. Before the Client signs up for OKPAY FINANCE services, the Client must read any updates of
the Terms and Conditions on the Platform. All future changes set out in an update are incorporated by
reference into the Terms and Conditions. The changes in the Terms and Conditions will take effect on
the date specified by OKPAY FINANCE.
4. The Terms and Conditions govern the opening, use and closure of Client Account and other related
payment services as referred to herein.
5. Together with agreements concluded, Privacy Policy, and any other conditions and documents
(Supplements, Agreements, Rules, Declarations, etc.), including but not limited to, information on the
websites, they constitute the legal relationship between the Client and OKPAY FINANCE.
6. The Client is advised to read the Terms and Conditions carefully. If there is any part of the Terms and
Conditions the Client does not understand or wish to clarify, the Client is advised to contact OKPAY
FINANCE.
7. The Client is advised to print or download and keep a copy of the Terms and Conditions and Fees for
future reference. The Client can always view the current version of Terms and Conditions on the
Website.
8. Depending on the type of Client Account the Client has, additional terms and conditions and
agreements may apply.
3. Client Account
2. Client Account is an payment account that enables the Client to hold stored value (known as "funds",
"money" or "virtual currency"), to send and receive payments.
The Client can check the balance of funds and view the transactions carried out on the Client Account
via the Platform.
3. Subject to section 10, the money held on Client Account does not expire.
4. The Client has the right to withdraw funds from Client Account at any time. However, the Client may
be required to confirm the Client’s identity and present any supporting documentation beforehand.
There is no minimum withdrawal amount, but the funds on Client Account must be sufficient to cover
any applicable withdrawal fee.
4. Client Account may be subject to limits set by OKPAY FINANCE and depending on the Client’s AML
Risk type, assessed by OKPAY FINANCE AML team subject to mandatory binding AML/CTF legal
requirements applicable to OKPAY FINANCE. The limits may be revised by OKPAY FINANCE from time to
time.
5. Client Account is opened for indefinite period of time.
6. Client Account is issued by OKPAY FINANCE and it is not a bank account. Although it is a service
regulated by the FINTRAC, by accepting the Terms and Conditions, the Client acknowledges that Client
Account and the funds stored on it is not covered by the Canadian Deposit Insurance Corporation (CDIC)
scheme. No other compensation scheme exists to cover losses claimed in connection with Client
Account. Although Client Account is not covered by CDIC, OKPAY FINANCE ensures that once it receives
the Client’s funds they are held in a segregated account and safeguarded in accordance with the
applicable legislation until they are spent or withdrawn or reimbursed to the Client. If OKPAY FINANCE
becomes insolvent, funds that the Client loaded on to the Client’s Client Account will be protected for
the Client against the claims of any creditors of OKPAY FINANCE as they are held in a safeguarded
account.
7. The money on Client Account belongs to the natural person or legal entity, which is registered as
Client Account holder (the Client). No person other than Client Account holder has any rights in relation
to the funds held in Client Account, except in cases of succession. The Client may not assign or transfer
Client Account to a third party or otherwise grant any third party a legal or equitable interest over it.
8. Any funds held on Client Account will not earn any interest.
9. There is Private Client Account and Corporate Client Account.
9.1. Both of the Client Account would require the Client to state his/her identity: name, surname, date
of birth, country of residence and both his/her cell phone number, email address, provide his/her
audiovisual recording in good quality with appropriate lighting for OKPAY FINANCE to identify the Client,
good quality photo (or scanned copy) of ID document or passport, which is valid travel document for
crossing the external border of the country of residence of the Client, a scanned copy of utility bill, dated
within the last 3 months.
9.2. Corporate Client Account requires the Client to submit application form, documents and
information set by OKPAY FINANCE.
10. In case the potential Client has not submitted the proof of identity and/or proof of address, OKPAY
FINANCE does not process the application further.
11. During the verification of the document OKPAY FINANCE checks that:
11.1. Document is valid;
11.2. There are no obvious signs of forgery (strange smears, document is damaged etc.);
11.3. Quality of the documentation (regarding the content, quality, possible mistakes) complies with the
legislation. OKPAY FINANCE does not process the application further if documents do not include all of
the required pages.
12. Client confirms that:
12.1. Document includes all necessary pages, grading scales, legends and translations.
12.2. The file is complete, that all scanned images are correctly oriented (portrait orlandscape) and that
all content is readable before submitting to OKPAY FINANCE. Client should ensure that all 4 (four)
corners of the document are visible.
13. In case, either the proof of identity and/or proof of address cannot be accepted for any reason (e.g.,
ID photo does not look genuine, etc.), OKPAY FINANCE has the right to deny the application.
13.1. OKPAY FINANCE reserves the right not to make a report to authorities, because during this stage of
establishing relationships with potential Client, OKPAY FINANCE cannot be sure that unwillingness of the
potential Client is related to the complying with the demands (standards) of legislation, and not related
with unwillingness to cooperate with OKPAY FINANCE.
4. Applying for Client Account and Opening Client Account
1. In order to use OKPAY FINANCE’s services the Client must first open Client Account by registering the
Client’s details in the Platform and submitting an Application for account services. As part of the Client
Account opening process, the Client will need to accept the Terms and Conditions and to pay document
verification Fee for opening an account by Payment Transfer. The Client must not be in breach of any of
the Terms and Conditions. OKPAY FINANCE may refuse to provide services to residents of countries
mentioned in the FATF blacklist, OFAC Sanctions List and other countries mentioned in various sanction
lists or in recommendations of regulating authorities against cooperation. Document verification Fee for
opening an account is not refundable.
2. If the Client is a private individual, the Client must be at least 18 years old to use OKPAY FINANCE
services, and by opening Client Account the Client declares that the Client is 18 years old.
3. To become a Client, the Client must apply for Client Account by providing all of the information
requested on the registration stage of Website. All information the Client provides during the signup
process or any time thereafter must be accurate and truthful. The Client is prohibited from providing
any false, inaccurate, incomplete or misleading information.
4. After the successful verification and approval, the Client gets access to the account.
4.1. The Client may only open Client Account if it is legal to do so in the Client’s country of residence. By
opening Client Account the Client represents and warrants to OKPAY FINANCE that the Client’s opening
of Client Account does not violate any laws or regulations applicable to the Client. The Client shall
indemnify OKPAY FINANCE against any losses OKPAY FINANCE incurs in connection with the Client’s
breach of this section.
4.2. The Client may not be able to use Client Account or any part of its services until the Client has
passed all OKPAY FINANCE’s identity and security validation and verification checks, and provided
information requested in accordance with anti-money laundering regulations. OKPAY FINANCE may
check all personal and identity verification information the Client gives us with credit reference or fraud
prevention agencies and other organizations. These agencies may keep a record of the Client’s
information and the searches done. However, OKPAY FINANCE’s does not perform a credit check and any search is for identity verification purposes only. OKPAY FINANCE shall keep records of the
information and documents OKPAY FINANCE obtains to verify the Client’s identity in accordance with all
applicable legal and regulatory requirements.
4.3. For additional Account opening possibility Client shall contact Customer Service. OKPAY FINANCE
has the right to refuse opening of additional accounts.
4.4. The Client may only add payment instruments to Client Account if the Client is the legal holder of
that Payment Instrument. OKPAY FINANCE takes any violation of this requirement very seriously and will
treat any attempt to add a payment instrument of which the Client is not the legal holder as a
fraudulent act.
4.5. The Client is using Client Account for commercial purposes if the Client is receiving or transferring
payments for or in connection with any business activity. OKPAY FINANCE reserves the right to
determine whether, in OKPAY FINANCE reasonable opinion, the Client is using Client Account for
commercial purposes. If the Client is in any doubt about whether or not an activity amounts to a
commercial activity, the Client should contact Customer Service.