Zunify Terms and Conditions of Use

Last updated: May 19th, 2021.

Zunify Inc. is a company incorporated in the United States of America, and exclusive owner of the technology comprising the value proposition represented by the Zunify Platform, as set forth below. Zunify Inc., together with its subsidiaries, is identified as a whole under the trade name “Zunify”.

Welcome to Zunify!

Zunify is a company dedicated to sustainably and equitably unify and strengthen the financial system through the use of cutting-edge technology.

Zunify provides a payment network (hereinafter, “Zunify Network”) to conduct financial transactions through an electronic platform, called “Zunify Platform”, which interconnects clients, businesses and financial institutions. The Zunify Platform includes a mobile application for clients (hereinafter, the “Zunify App” or “App”), digital payment terminals and web platforms for businesses and financial institutions.

Through the Zunify App, customers can digitize their existing payment products, make mobile payments to purchase goods and services, and acquire new payment products and exclusive benefits, supported by their favorite businesses and trusted financial institutions.


Acceptance of Terms and Conditions

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The following document outlines the terms and conditions of use (hereinafter, “Terms and Conditions”) established and supported by Zunify, which govern the relationship between the client, a natural person of legal age (hereinafter, “User(s)”), and Zunify, for the acquisition or use of the Zunify App and any application derived, or support system of the Zunify Platform. Accepting the Terms and Conditions is a fundamental requirement for the User in order to have access and enjoy the Zunify App provided by Zunify Inc., and administered within the legal framework of Costa Rica by the Costa Rican company Zunify Payments Ltd., tax ID number 3-102-790156. These Terms and Conditions of Use constitute a contract between the User and Zunify.

This document is essential and should be read carefully before deciding to use the services and products provided by Zunify. The User should carefully read the Terms and Conditions before accepting them. The User acknowledges and agrees that will be solely responsible for understanding and complying with all applicable laws, rules and regulations of the respective jurisdiction of the User, that would come into force with respect to the use of the Zunify Platform. It is recommended to print or download a copy of this document and save it for future reference. 

The User can always view the updated document on the website zunify.com or on the Zunify App. Zunify reserves the right to update the Terms and Conditions of Use from time to time, to suit them to the services and products provided at a specific point in time. The User will receive an electronic notification every time this document is updated, and the User shall state the acceptance of the new Terms and Conditions to continue enjoying the use of the Zunify App.

Zunify App

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The Zunify App is a mobile, digital wallet application of financial services for smart mobile devices with iOS or Android operating systems. This digital product complies with the principles of security, sustainability, convenience and design according to which Zunify is governed.

The App works as an electronic wallet where Users, after the due process of identification and validation, can link and digitize existing financial products or obtain new digital payment products for use in the payment of goods or services in affiliated businesses with Zunify. The Zunify App is the tool within the Zunify Platform that allows Users to use their preferred financial products for various types of digital payments. Financial transactions that the User can conduct through the App include, but are not limited to:

(a) Payments with Internet connection using pay-per-view technology [1] in brick-and-mortar stores.
(b) Payments in e-commerce payment gateways.
(c) Reception and approval of remote payment requests.
(d) Product acquisition of digital payments.
(e) Access to promotions and benefits of associated businesses and financial institutions.
(f) Transaction history visualization of a product, among others.


1 Pay-Per-View technology: refers to the use of vision sensors of smart mobile devices, such as the high-resolution and high-speed processing cameras that enable to work with graphic codes (for example, barcodes or QR codes) where the reading process represents a safe, wide access and high availability method.

Zunify App and Zunify Account

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The Zunify App can be accessed and downloaded from the virtual app stores: App Store, Google Play and App Gallery. When downloading and entering for the first time, the User is requested to complete a registration process in order to create a single digital account (hereinafter, “Zunify Account”) on the Zunify Network. 

The Zunify Account is personal, individual, private, non-transferable and non-heritable. When creating a Zunify Account, the User is requested to provide basic information for the unique client identification and the definition of safety parameters determined by Zunify for proper and safe use of the App. The User assumes the obligation to provide true and correct information. 

In addition, an identity validation is performed, in which Users are requested to provide a photograph of their ID card and make a proof of life using the camera of a mobile device. Zunify validates the User information with the use of databases to which Zunify Payments Ltd. has access in its capacity as registered entity with the General Superintendency of Financial Entities (SUGEF). Any inconsistency found in the supplied information stops the process of creating the Zunify Account and sets a precedent of failed attempt. At any time, if necessary, Zunify can request the User to complete the online identity validation process again, in line with the Zunify Network safety guidelines. 

Finally, to conclude the process of creating the Zunify Account, the User must read thoroughly and accept the Terms and Conditions, which are detailed in this document.

Zunify Account Maintenance and Security

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Within the Zunify App, in the Profile section, Users can view and manage their information. They can change and update their personal information, as needed, as long as the information provided is accurate. Users are responsible for ensuring that the information provided for their Zunify Account is always correct and updated. They can also update the safety parameters at any time if they wish to do so. Furthermore, Zunify can request a regular update of any of the safety parameters or the User’s personal information.

The Zunify Platform can request the safety parameters to the User at different moments during the use of the App and others applications supplied by Zunify. These cannot be disabled and must always be provided whenever the system so requests, in order to guarantee the User’s personal safety, as well as the Zunify Network integrity. It is the responsibility of the Users to protect and not divulge their security information to anyone. Zunify will never ask the User to provide details on safety parameters of the client’s Zunify Account to Zunify employees or third parties. Zunify will not be liable for any damage arising from a misuse of the App or as a result of failure to safeguard the User’s security information. 

Zunify can contact the Users by the means it deems convenient, with the aim to send information or notifications about their Zunify Account. It is the responsibility of the Users to regularly check that the communication methods registered at the Zunify Account work properly and, in any case, notify Zunify for any inconvenience. It is also the responsibility of the Users to read the corresponding notifications for their Zunify Account as soon as possible.

Users are solely the ones to use their Zunify Account at the different access points provided by Zunify. For the opening and use of a Zunify Account in a mobile device, it is necessary that the Users register and link the unique ID of the device to their account. In the Profile section of the App, Users can view and manage the registered mobile devices. These devices can be enabled, disabled or removed by Users. It is the responsibility of the Users to properly manage the devices and access points to the Zunify Account. In turn, Zunify has the power to suspend the use of the User’s Zunify Account or restrict its functionality for justified safety reasons, or if there is reasonable suspicion that an improper or fraudulent use of the Zunify Account has occurred.
 

Digitization and Acquisition of Payment Products

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The Zunify App allows Users to associate their Zunify Account with any demand deposit account [2] that they have allocated in any financial institution of the legal framework of Costa Rica. Linking fund accounts is performed by entering the IBAN [3] related to the account. Zunify only allows to link accounts that the User holds. When linking a fund account, a direct debit is made and it is subject to an approval process by the financial institution, which takes approximately 36 hours. Once the direct debit is approved by the financial institution issuing the financial product, the linked bank account is enabled to make financial transactions through the Zunify Network. 

When linking a bank account, a digitization of the payment product is generated, which is linked to the Zunify Account. Any linked bank account can be unlinked from the Zunify Account at any time the User wants to do so. Once the bank account is unlinked, this can be linked again to the Zunify Account as long as it is active and the direct debit is approved by the issuing financial institution.

The User can also request and obtain digital-native payment products from the Zunify Network through the App. To obtain payment products, when making a request, Zunify requires the User approval to share the basic and personal customer information with the entity issuing the payment product. Zunify specifies to the User the information to be shared with the issuing entity, and continues the request process upon receipt of the customer’s authorization. Additional information for requesting a payment product may be necessary. The User must be informed of any additional requirement, as well as the means through which the information should be provided. Zunify submits the request for payment products to the issuing entities. Once the request is approved by the issuing entity, the payment product is enabled within the User’s digital wallet for its use on the Zunify Network.

Zunify, on its part, does not provide nor hold fund accounts allocated to Zunify Payments Ltd.; it is limited only to manage funds and conduct financial transactions without capturing funds. The bank accounts as well as the funds allocated to these belong exclusively to the User, and are managed and governed by the financial institutions issuing the financial product.


2 Demand deposit account: bank account that holds money market funds. This includes: debit accounts, prepaid accounts, simplified record accounts, savings accounts, among others.

3 IBAN: refers to the unique international identifier of each bank account, and the acronym stands for International Bank Account Number.

Transactions through Zunify Network

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The Zunify App allows Users to make payments to purchase goods and services using the financial products associated with the Zunify Account. All transactions require validating the safety parameters at some checkpoints in the payment flow defined by Zunify. Given this, all transactions made by the User through the Zunify App or applications provided by Zunify, are presumed to be a valid and authorized operation by the Zunify Account holder. Users are responsible for the care, use and maintenance of their Zunify Account. 

The Zunify Platform enables the execution of point-of-sale payments, payments on e-commerce platforms and assistance on remote payments. When a payment event occurs, Users receive a payment request on their Zunify App, where they can view the payment details and the entity requesting the payment. Users have the option of choosing the payment product they want to use, apply available promotions and benefits, and accept or cancel the payment. By accepting the payment and providing the necessary safety parameters, Zunify proceeds with debiting the account associated with the selected payment product in real time. Users receive a digital voucher as proof of the financial transaction that they can check on their transaction history at any time.

The financial transactions that the User can conduct through the Zunify Network do not have a limit of amount set by Zunify, and can be made in the following currencies: colones, currency of legal tender in Costa Rica, and dollars, currency of legal tender in the United Stated of America. In general, Zunify does not limit the tradable amounts through the Zunify Network nor issue the guidelines to which the payment products of third-party issuing entities are subject. The payment products are subject to rules and restrictions set by the issuing entities of such products, which also govern the payments ecosystem of the Zunify Network.


Promotions on Zunify App

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Promotions are defined as all promotional benefits that businesses affiliated to the Zunify Network offer to Zunify App’s users in the platform under the section identified as “Explore” or “Market”.

To enjoy the benefits, users should apply them on Zunify App before making their payments. Therefore, promotions offered are not applied by businesses, but by the user during the purchasing process.

The discounts offered by Zunify do not apply in conjunction with other promotions. Thus, the discount or benefit is not applicable with any other discount or benefit when the business has any other ongoing promotional strategy. Neither will the business apply two promotions or benefits simultaneously in just one purchase, when running several active promotions on Zunify App.

The duration and details for promotional mechanics will be detailed on Zunify App, so that they will be displayed as long as they are active. Once they disappear from Zunify App, it shall be understood that they are no longer active and, consequently, cannot be used.

The business can cancel the promotion without prior notice, so that it will be no longer valid on Zunify App.

Guarantees shall be claimed directly to the businesses. Therefore, Zunify shall have no liability for such guarantees.

Privacy Policy

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At Zunify, we consider the User’s privacy the cornerstone of our work. Zunify establishes a set of privacy guidelines to ensure the correct handling and protection of the User’s personal information. Our privacy policy includes the management of personal, financial, and other types of information performed by Zunify and involved in the use of the Zunify Platform. This policy outlines the manner Zunify collects and uses the User’s personal information. 

Some products and services provided by Zunify, individually or jointly with other financial or commercial institutions, may contemplate special privacy notices, which are presented to the User for approval prior to obtaining or enjoying the goods or service. Similarly, there can be supplementary privacy notices that Zunify shall notify as required by the applicable legal framework.

Personal Information

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The personal information refers to information that makes it possible to identify, locate and contact a specific individual, or by which, coupled with additional information, it is possible to do such actions. Zunify collects different types of information, which are described below:

Contact information: name, identification number, phone number, email address, physical address, among other information that allows Zunify to communicate with the User.

Information on financial products: the IBANs of bank accounts linked to the User’s Zunify Account to conduct financial transactions.

Transactional data: information generated and stored by the Zunify Platform at the time that a financial transaction is made, such as the date, time, location, transaction amount, and information about the business.

Information on the business relationship: concerning purchase and payment preferences that are part of the information collected by Zunify or requested to the User in order to understand the customer needs, and continuously improve the products and services offered, and the personalized product offerings.

Collected data from interactions with Zunify: information obtained due to the use of products, services, websites or applications; the communication through the different channels that Zunify manages; and the participation and enjoyment of promotions, benefits and loyalty programs.

Costa Rican Legal and Regulatory Framework

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In line with the “Know Your Customer” Policy, Zunify Payments Ltd. must collect, verify, store and safeguard the information provided by the User, as defined by SUGEF 13-19 Agreement of Law No. 8204 and its general guidelines. Zunify can also require information as it may deem appropriate, according to its policies and procedures, to apply due diligence to the User.

Zunify guarantees the confidentiality with regard to the User’s collected personal information, as well as others guidelines established in the Law No. 8968 on Protection of the Individuals against the Processing of their Personal Data, and the Law No. 7975 on Undisclosed Information. Zunify is responsible that all information collected as a result of the business relationship with the User under the Terms and Conditions, be used only for fulfilling the purposes set out herein, and treated as sensitive personal information.


Information Collection

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Zunify collects the User’s personal information when the User downloads the Zunify App and creates a Zunify Account. Users complete the registration and identity validation processes, providing personal contact information that is linked to the Zunify Account. When linking payment products to their Zunify Account, they also provide information about financial products to enable the use of these on the Zunify Network. Linking payment products provides additional data about the product such as information on the financial institution issuing the product, the type of payment product, the associated currency, among others.

In addition, Zunify Payments Ltd., in its capacity as an entity supervised by the SUGEF, is authorized to consult the databases of competent authorities and consultation systems on natural and legal persons. These databases provide User information on credit health, criminal history, Politically Exposed Person (PEP) condition, and designation on listings of international agencies. The aforementioned consultations are conducted in order to meet the efforts on risk detection, prevention and mitigation of money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction, as provided by the Law No. 8204. If necessary, Zunify can also consult and collect information that the User publicly publishes on social media.

Information on interactions the User carries out with the Zunify Platform and Zunify communication channels is collected. This information is a result of the use of products, services, websites or applications provided to the User by Zunify. This includes information collected by cookies, pixel tags, web analytics tools, server logs, and other technologies, such as geolocation data, browsing history and other information available through digital interactions. Zunify also collects User information using communication channels enabled to receive queries, requests, complaints, survey responses, satisfaction surveys, among others. 

The User interaction when participating and applying promotions, benefits and loyalty programs also provides information that Zunify collects and analyses to improve the products and services offered by the Zunify Platform. This includes the request and acquisition of financial products and services through the Zunify Platform, in which Zunify can collect information on the User’s preferences, tastes and needs.

Conducting financial transactions through the Zunify Network, in turn, generates data related to transactions. Zunify has the obligation to register, monitor and store the information regarding traded operations through the Zunify Network in line with the guidelines provided by the Law No. 8204. In case of payment-related transactions with associated businesses for purchases of goods and services, for its monitoring efforts, Zunify does not require to disclose any User information to the business. Zunify does not share the User’s contact information or financial products to third parties.


Use of Personal Information

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Zunify uses the User’s personal information collected for the following purposes:       

Conduct financial transactions authorized by the User through the Zunify Network.

Execute identification, authentication, validation, fraud prevention and security assurance processes.

Provide products, services and information requested by the User through the Zunify Platform.                                                                                                                   

Enable the use and application of payment products, loyalty programs, promotions and benefits in purchases and transactions made by Users.

Monitor financial transactions undertaken through the Zunify Network, supporting the efforts against the risk of money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction.

Manage surveys, loyalty programs, contests, giveaways and events.      

In response to User preferences, provide marketing communications, custom offers and messages based on interests.

Learn and study how the User uses the Zunify products.           

Perform analysis and data modeling to generate information and business insights, and understand economic trends.

Support the day-to-day business operations in terms of account management, quality control, digital platform management, communication channel management, business continuity and disaster recovery, security monitoring and fraud prevention, corporate governance, reporting and regulatory compliance.

Generate sets of depersonalized, de-identified, anonymized or aggregate data, to be used for the development of products and provision of consulting and marketing services of other interested parties.

Publish reports with aggregate and statistical data, which, although they can certainly rely on personal information, do not disclose the User’s personal information nor give space to the identification, location or contact of the client.

Disclosure of Information to Third Parties

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There are instances where Zunify can share the User’s personal information to third parties, considering that these include: competent authorities, businesses, financial institutions, provider entities of financial products or services, among others. The following specifies which cases may involve information sharing:

With the User’s consent, requesting payment products, financial services, loyalty programs, co-branding programs and promotional programs in which a third party intervenes or participates.

Managing payment products, financial services, loyalty programs, co-branding programs and promotional programs by Zunify, in which a third party intervenes or participates.

Using a payment product issued by or co-branded with a third party, by the User at the Zunify Platform.

When intervening in a financial transaction, using a service or platform managed by a third party.

In the case of being required by law, by a competent authority.              

With service providers and companies associated with Zunify, using the information to provide services to Zunify. It should be noted that they must protect and safeguard the User’s personal information.

For the purpose of sale or transfer of commercial assets, contract enforcement, protection of Zunify’s property and rights, third-party property protection or security, or in the event of audits and compliance and corporate governance issues, as allowed by the law.

Some payment products, services and platforms integrated with the Zunify Platform, that are managed or issued by third parties, are subject to privacy notices of their own and must be approved by the User before the interchange of any type of information between Zunify and the third party.

Intellectual Property Rights

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The Zunify Platform as a whole, including, in particular, the Zunify App, its content, features and functionality (including but not limited to all information, software, text, displays, images, video, audio, as well as the design, selection and provision of these) are the exclusive property of Zunify, its licensors or other material providers, and are protected by copyright, trademark, patent, trade secret, and other intellectual property laws, or related rights.

The trademarks, commercial ads, trade names, and designs used to advertise or promote the services or products of Zunify, affiliated businesses, associated financial institutions and/or other associated business entities, are the property and liability of individual institutions and are presented in the Zunify App only for the identity and reference of each institution, which is the holder of the Intellectual Property rights.

Regarding the intellectual property and copyright of the products and services supplied by ZUNIFY, the User acknowledges that the software, digital product solutions and other computer resources provided for the use of the Zunify Network are the exclusive property of Zunify, and will remain so at all times. It is therefore understood that the User shall have no right, title or interest in the products and materials used on the Zunify Platform. This is protected by copyright law and international treaties. The intellectual property protection covers software products, its source code, its database structure and updates. Users understand that they should adhere to the Terms and Conditions established for the use of the Zunify Platform and access to the Zunify Network.

About Other Brands and Payment Networks

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ZUNIFY settles its transactions through its own network, called ZUNIFY NETWORK, which is organized and operated under the National Electronic Payment System (SINPE) Regulation, managed by the Central Bank of Costa Rica. In this regard, ZUNIFY does not settle transactions that involve networks or technologies of other payment card brands or payment networks. Representing an alternative model to the traditional payment card scheme, payments with ZUNIFY should not be considered card payments. Zunify uses the digitization of existing payment products within the Zunify Platform, as well as the issuance of new digital-native payment products of the Zunify Network.

Regulatory Compliance

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Zunify Payments Ltd. is registered with the General Superintendency of Financial Entities (SUGEF), as provided in Article 15 of Law No. 7786 on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Money Laundering and Financing of Terrorism. Therefore, Zunify is subject to compliance with the Asset (Money) Laundering and Financing of Terrorism rules.

The User accepts, as established by the SUGEF in the 11-18 Agreement of Law No. 7786, “THE REGISTRATION OF ZUNIFY PAYMENTS LIMITED WITH THE GENERAL SUPERINTENDENCY OF FINANCIAL ENTITIES IS NOT AN AUTHORIZATION TO OPERATE, AND THE OVERSIGHT EXERCISED BY THAT SUPERINTENDENCY IS ONLY FOR PREVENTING MONEY LAUNDERING, FINANCING OF TERRORISM AND FINANCING OF PROLIFERATION OF WEAPONS OF MASS DESTRUCTION, AS PROVIDED BY THE LAW NO. 7786 ON NARCOTIC DRUGS, PSYCHOTROPIC SUBSTANCES, DRUGS OF UNAUTHORIZED USE, RELATED ACTIVITIES, MONEY LAUNDERING AND FINANCING OF TERRORISM. THEREFORE, THE SUGEF DOES NOT OVERSEE THE BUSINESSES CONDUCTED AND OFFERED BY ZUNIFY, NOR ITS SECURITY, ESTABILITY AND SOUNDNESS. PEOPLE WHO HIRE ITS PRODUCTS AND SERVICES DO SO AT THEIR OWN RISK.”

Suspension of Service

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Zunify is responsible for ensuring proper use of the platform and constantly validating the integrity of the User using the Zunify Platform; thus, Zunify performs ongoing monitoring of transactions conducted through the Zunify Network. At the moment a misconduct that violates the usage guidelines of the platform is identified, or a disagreement in accordance with Law No. 8204 on narcotic drugs, psychotropic substances, drugs of unauthorized use, related activities, money laundering and financing of terrorism, and its related regulations, Zunify has the authority to restrict, suspend or terminate the business relationship with the User.

In the case Zunify identifies that financial transactions conducted through the Zunify Network derive from fraudulent or improper actions that, in any way possible, have been conducted by the User in contempt of the guidelines set out in the Terms and Conditions, Zunify may immediately terminate the business relationship with the User and claim for the damages caused. Additionally, Zunify shall report such acts to the competent authorities. These measures are implemented to ensure the platform’s integrity and reliability, and the wellbeing of all Zunify clients.

Severability clause

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If any section or provision of the Terms and Conditions contained herein are found to be void, invalid or ineffective in accordance with the laws of the Republic of Costa Rica, it shall be deemed to be severed from this document without affecting the validity or enforceability of the whole document, or any remaining provisions or clauses.

Modification of Terms and Conditions

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Zunify reserves the right to modify the Terms and Conditions, as well as its privacy policy as required by law, its operation or terms of business. Zunify will report any modification via the email supplied by the User.

Modifications to the Terms and Conditions will be informed to the User via the official communication channels, particularly by the Zunify App and the email address provided by the User. Some changes in the Terms and Conditions may require the User’s consent, in which case Zunify would request the User to accept the new provisions for the use of the products and services offered through the Zunify Platform. Other changes, such as those mandated by law, may not require the User’s consent; however, they should be also informed to the User. Such changes shall become effective 5 days after the modification disclosure. Zunify is not responsible if, for any reason, the client’s mail were unsuccessful, returned, delivered to the SPAM folder, unread and/or in some way, not seen by the User despite being sent correctly to the User’s email address. Thus, in this respect, the User will be deemed notified of such modification.

Contact and Notifications

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If Users have any questions about the Zunify App or any other product or service offered by Zunify, they can forward such inquiries to the email hola@zunify.com.