Terms of Use
W PAYMENTS: We are a comprehensive software infrastructure provider (SaaS) and a B2B technological orchestrator, facilitating telematics management, the routing of fund dispersion instructions, and the provision of advanced technological solutions for international collection processes. Our architecture allows our users' working capital to be boosted with agility, clarity, and security, through payment data management operations, cross border, and the facilitation of early settlements, which allows us to offer effective and inclusive processes, suitable for execution by SMEs, MSMEs, and independent professionals.
The purpose of this agreement is to make known the strict regulation of terms and conditions under which the technological services offered by W PAYMENTS are licensed and integrated. Therefore, it is imperative that the user carefully and thoroughly reviews the use and risk assumption policies that we have consolidated in this document. If you access this portal and the W PAYMENTS interfaces, it means that you declare your express, unequivocal, and entire agreement with these terms and conditions (hereinafter "T&C") stipulated below. If you do not agree with all of these provisions, please immediately refrain from accessing this portal and our services.
Protecting your operational privacy is an unwavering pillar for W PAYMENTS. We urge you to review our Comprehensive Policy for the Treatment of Personal Data to understand our institutional rigor in maintaining corporate confidentiality and the use of your information properly protected against financial ecosystems.
1. General Information
W PAYMENTS declares that:
It is a technological platform legally operated and managed by TWC INTERNATIONAL LLC, a limited liability company incorporated under the laws of the State of Wyoming, United States of America. Given its exclusively technological nature, W PAYMENTS is not a financial services provider in the Republic of Colombia or in any other jurisdiction, nor does it perform material operations of public fund raising, fiduciary holding, or asset administration, and is therefore not subject to the inspection, control, and supervision of the Superintendencia Financiera de Colombia.
It holds the status of Technological Orchestrator and authorized facilitator in data transmission, acting under a technological mandate on behalf of the Partner to channel payment instructions to Third-Party Partners, Acquiring Entities, banks, and payment rail providers, who are solely responsible for the custody and settlement of funds.
It is a Software as a Service (SaaS) provider that, through its platform, offers the visualization of payment reception and dispersion management, data analysis, and related telematics services, backed by technical integrations of Banking As A Service (BaaS).
It does not perform any regulated financial activity nor does it provide postal money order, foreign exchange market intermediation (IMC), or stock market services. Nor does it grant express or tacit authorization to third parties to use the technological Services to mask such purposes.
W PAYMENTS does not raise resources or receive bank deposits directly from the public. The economic flows processed in the ecosystem are managed under a technological mandate on behalf of the corresponding Partner, with the Platform acting as an instruction conduit for correct settlement in the destination accounts in accordance with these Terms and Conditions.
The Services are licensed solely and exclusively to business Partners who have passed strict due diligence controls and are duly certified with their corporate data and bank accounts.
It does not require Partners to accept a specific brand of credit, debit, prepaid, or gift cards to access the Services, with the enablement of such means being subject to the acquiring networks of the Third-Party Partners.
W PAYMENTS only allows the Partner to route transactions through the payment methods previously authorized by the integrated Acquiring Entities.
The Services are enabled so that natural or legal persons (“Partners”) can orchestrate the monetization of payments invoiced on the platforms of the acquiring entities, assuming 100% of the transactional risk without prejudice to the conditions established in these T&C.
It is not a party to, nor does it materially or legally intervene in, the contracts or commercial agreements that the Partner signs directly with acquiring entities or content platforms, maintaining absolute autonomy and indemnity.
It guarantees the constant monitoring of its interfaces (APIs) to identify and mitigate potential technical errors, ensuring the quality and protection of the network against cybersecurity threats.
The Partner declares and warrants under oath that:
They are of legal age, acting in their own legal representation or that of their corporation, and have full legal, financial, and administrative capacity to contract and bind themselves in the respective capacity in which they act.
They know and accept that the authorizations, data routing mandates, and discounting powers granted under these T&C will remain fully in force until a Definite Cancellation or a duly finalized Voluntary Cancellation is applied.
They know and accept that the software license and the Services are provided, exactly as described in these T&C, without any other type of express or implied warranty regarding the infallibility of third-party banking networks.
All corporate, tax, and other information provided to W PAYMENTS is true; therefore, the attached documents are authentic, accurate, and verifiable. They authorize its exhaustive verification before any authority, entity, or national or foreign intelligence provider. The Partner agrees to update their information at least once a year, or immediately when a substantial change occurs.
They know, understand, and irrevocably submit to the Comprehensive Personal Data Processing Policy of W PAYMENTS.
They know and accept that W PAYMENTS may, at any time, verify before Information and Risk Operators, credit bureaus, or any other entity that administers databases, everything regarding their present, past, and future financial, commercial, and credit behavior.
They understand that W PAYMENTS does not act under the mandate of promoting, marketing, or exploiting businesses in a specific field, nor does it operate as a sales representative, commission agent, or commercial agent of the Partner.
The Partner, at all times and under all circumstances, will act in their own name and at their own risk before their end clients and acquiring entities.
They have all the operating permits, licenses, and tax registrations required according to the activity or corporate purpose they develop. The Partner assumes full and absolute legal and financial responsibility for any failure to obtain such permits.
They know and accept that this legal relationship is of a strictly commercial B2B (Business to Business) nature. The Partner carries out their activity autonomously and independently, using their own personnel without there being any legal, labor, or administrative subordination between W PAYMENTS and the Partner, their collaborators, and dependents. Concepts such as fees, salaries, subsidies, social security contributions, and compensation will be exclusively assumed by the Partner.
W PAYMENTS has no involvement in the actions derived from the normal course of the Partner's business, nor in the setting of prices, chargebacks, or commercial policies imposed by the Acquiring Entity.
They know and accept that W PAYMENTS reserves the absolute and discretionary right to reject, delay, or deny their registration request to create or activate the W PAYMENTS Account.
They bind themselves NOT to use the Services, directly or indirectly, for any fraudulent or illegal purpose, money laundering, or any purpose that interferes with the technical stability of the Services.
They know and understand in a non-negotiable manner that the Acquiring Entities, processing networks, and binding financial entities in the settlement of collections are NOT subcontractors of W PAYMENTS, but rather independent third-party infrastructures.
The Partner knows and accepts that these T&C are made available to them through electronic support, and that their electronic acceptance, the use of credentials, and all activity through cryptographic logs within the W PAYMENTS Account constitute full proof of contractual intent and may be used by W PAYMENTS before authorities as incontrovertible evidentiary elements.
2. The Services
As a Technological Orchestrator and B2B integrator, W PAYMENTS: a). Provides the Partner with telematic tools to streamline the visibility of billed monetization; b). Algorithmically processes transactions and payment traceability; c). Executes a technological instruction mandate, acting on behalf of the Partner to channel orders to Third-Party Partners, so they can settle the funds resulting from the Partner's commercial object into a deposit account; d). Instructs the disbursement of net revenues to the bank account indicated by the Partner; e). Instructs the automatic debit and retention of the corresponding Discounts, fees, and Amounts from the gross revenues, in accordance with the provisions of these T&Cs.
Technological Solution. W PAYMENTS has developed and licenses a proprietary Technological Solution, which the Partner may use, solely and strictly, under the stipulations and technical limits established in these T&Cs. The Solution includes: a). An integrated Platform for verification (KYB), creation, and activation of the W PAYMENTS Account, and b). Application Programming Interfaces (APIs) and data processing tools to facilitate communication with Acquiring Entities.
In any case, the Services will be those functionally available at the time the Partner activates their Account, or those that may be operationally implemented in the future. W PAYMENTS reserves the unilateral and unappealable right to temporarily suspend the use of the Services for reasons of network security, server maintenance, software updates, or force majeure situations. W PAYMENTS is not responsible for the unavailability, latency, or potential technical failures of the Acquiring Entities, brand processors, or underlying interbank networks.
3. The W Payments Account
Account Creation. Access is strictly reserved for those natural or legal persons who perform duly authorized commercial activities and who do not have a history of fraud or have been subject to Suspension by W PAYMENTS. The onboarding process requires providing corporate data and establishing cryptographic login credentials.
Account Activation. To route data through the API, one must hold an “Active” Account. The Ally must complete and attach all the information required in the compliance forms (SAGRILAFT). W PAYMENTS will validate the information using forensic tools. If there are false documentary indications, inconsistencies, or if the Ally refuses to update data, W PAYMENTS reserves the right not to activate, deactivate, or apply the Definite Cancellation of the account, without assuming any liability for lost profits derived from this security measure. If criminal indications are detected, the Ally grants express authorization for immediate reporting to the Financial Intelligence Units.
Custody of credentials and use of the Account. The Ally assumes objective, exclusive, and non-delegable responsibility for safeguarding their password and API keys. Any settlement or routing order made from the W PAYMENTS Account will be legally presumed to be executed, authentic, and expressly authorized by the holder Ally, admitting no evidence to the contrary against W PAYMENTS' technological execution.
Nature, scope, and currency of the Account. The W PAYMENTS Account is a graphical and user environment within the SaaS infrastructure. The account operates under a nominal base currency denominated in United States Dollars (USD), used as a technical reference index for the recording, calculation, and valuation of transactions. The Ally unequivocally accepts that the W PAYMENTS Account is not a bank account, is not a fiduciary electronic wallet, nor a deposit account covered by government deposit insurance. The values reflected on the dashboard constitute a "technological mirror" of the funds that are in transit or materially in the custody of the Third-Party Allies.
Dashboard, visualization, and reports. The interface provides visibility into balances in the clearing process, cryptographic transaction history, preventive withholdings, and access to the Access Tools.
4. Access Tools
W PAYMENTS provides the Ally with advanced service modules to enable functionalities within their account. Through these algorithmic tools, the Ally can monitor, reconcile chargebacks, and access exceptional services such as the advancement of confirmed settlements ("Págame Ya"), allowing them to streamline cash flow over a specific billing period, subject to the rigorous risk policies established for said operational tool.
5. Special Conditions of the Business Service
Partner Declarations: The Partner:
Knows, accepts, and grants W PAYMENTS a technological, representative, and special mandate to channel and manage the payment instructions made by the Acquiring Entities.
Irrevocably authorizes W PAYMENTS to, through said technological mandate, instruct Third-Party Partners regarding the receipt, settlement, disbursement, reversal, or retention of flows.
Knows and authorizes W PAYMENTS to instruct the automatic debit of its settlements for all Discounts, penalties, and fees that may apply in accordance with these T&Cs.
Grants irrevocable authorization for W PAYMENTS to instruct the blocking or freezing of funds with Third-Party Partners when an investigation is initiated due to a fraud alert, chargeback, or authority request. The funds will remain frozen until the technical conclusion of the audit.
Discounts and Amount: On the gross volume processed by Third-Party Partners in the settlement periods, the Discounts (financial costs of the network, acquiring, taxes, and bank commissions) will be executed. The Partner will be instructed to disburse the Net Income.
The Partner will pay W PAYMENTS a Technology Fee (the "Amount") in consideration for the software license and orchestration. The Amount consists of a percentage value on the transacted volume and/or a fixed value per API call or transaction.
The Partner irrevocably authorizes the deduction at source of this Amount directly from the clearing flows, prior to disbursement. The Amount does not include tax obligations or statutory tax withholdings applicable to the Partner.
Billing Plans: W PAYMENTS will instruct Third-Party Partners to make the corresponding Disbursement to the account designated by the Partner within an estimated operational term of maximum five (5) business days from the effective and material release of funds by the Acquiring Entity. As a risk control policy (AML), the first Disbursement of a new account will be executed after a preventive maturation period of five (5) calendar days following the first transaction.
Disbursements to the Partner's deposit account:
Disbursement Account: The Partner must certify a legitimate bank account in one of the enabled entities. The account holder must strictly be the natural or legal person who registered the W PAYMENTS Account.
Operational Traceability and Verification Requirements: Any request for local or cross-border settlement is subject to the anti-money laundering (SAGRILAFT) manuals. W PAYMENTS and correspondent banks may require documentary proof of the origin of funds. Failure to provide information entitles the immediate blocking of the disbursement without liability to The Company.
Clearing Times: Disbursements DO NOT operate automatically. They are subject to clearing houses (ACH/SWIFT). If a transaction is held in a "pending authorization" status by the processing networks, the settlement time is suspended until its release.
Exoneration for Erroneous Data: The Partner absolutely exonerates W PAYMENTS for delays, exchange losses, or interbank rejections arising from the provision of incorrect account numbers or incorrect Swift codes.
Abandoned Balances: If the Partner has available funds and the account remains inactive for twelve (12) uninterrupted months, they irrevocably authorize the forced liquidation to the last registered bank account, assuming the operational costs of said disbursement.
Preventive Retentions (Rolling Reserves) and Fraud: The Partner authorizes the retention of flows for a term of up to one hundred and twenty (120) calendar days in the event of chargeback spikes, franchise alerts, or unusual activities. These blocked funds will not generate interest recognition or monetary indexation.
Acquiring Disputes: The commercial, financial, and legal risk of payments is 100% assumed by the Partner. Any fine, penalty, or chargeback imposed by the franchises will be immediately transferred to the Partner and debited from their future balances through the technological discount mandate granted.
Operational Supports: In the event of fraud audits, the Partner is obliged to provide the commercial supporting documentation within five (5) peremptory business days of the request.
6. Partner's Responsibilities
The Partner, without prejudice to other obligations, unconditionally agrees to: (i) Assume the accounting, legal, and tax management of its business; (ii) Keep the transactional information, trade secrets, and technical architecture of the Platform in strict and absolute confidentiality; (iii) Safeguard the commercial evidence for a legal evidentiary period to handle disputes and chargebacks; (iv) Guarantee the alignment of its quality policies with the Consumer Statute regime (Law 1480); (v) Deploy corporate cybersecurity protocols on its own networks to prevent breaches and malicious code injections; and (vi) Diligently apply all software updates and security patches required by W PAYMENTS.
7. Fraud Prevention
The global payments ecosystem severely penalizes fraud. The Partner understands and accepts that any violation of the fraud thresholds of the acquiring networks may result in punitive institutional fines. The Partner agrees to immediately indemnify, hold harmless, and reimburse W PAYMENTS and TWC INTERNATIONAL LLC for any fine, cost overrun, or penalty imposed by the processing networks arising from their transactional volume.
Security Alert Investigations: In the event of reasonable suspicion of a security breach, impersonation, or compromise of credentials in the Partner's systems, W PAYMENTS will have the authority to demand a technical forensic audit of the Partner's infrastructure, and the latter must submit to full corporate cooperation.
8. Illegal and Prohibited Activities
The use of the technological infrastructure for activities unrelated to legality and the T&C is absolutely and strictly prohibited.
Prevention of Money Laundering and Terrorist Financing: W PAYMENTS, in accordance with global and local financial standards (SAGRILAFT), imposes a zero-tolerance policy. The Partner declares under oath that: (a) It implements measures to prevent its flows from serving as an instrument to conceal money of illicit origin; (b) It has no convictions nor is it involved in criminal, disciplinary, or fiscal investigations for money laundering, corruption, drug trafficking, or terrorism; and (c) It does not appear on restrictive lists administered by national or foreign authorities. Any falsehood in this declaration will enable W PAYMENTS to activate the Definitive Cancellation and freeze operational flows, immediately reporting to the competent authorities.
Prohibited Activities: The use of the API to channel payments associated with the following is expressly banned:
Extraction, refining, or bulk trading of gold, emeralds, and precious metals.
Manufacturing and commercialization of weapons, ammunition, or war material.
Materials recovery, scrap metal trade, and industrial waste.
Unregulated exchange operations, Forex, and unlicensed exchange bureaus.
Betting platforms, online casinos, or games of chance without Coljuegos authorization.
Commercialization of pharmaceutical products, biological material, or wildlife.
9. Cancellation, Deactivation, and Suspension
W PAYMENTS reserves the discretionary, unilateral, and corporate authority to apply containment measures on access to the Platform.
Voluntary Cancellation: The Partner may request commercial disaffiliation, conditioned as a sine qua non on not having outstanding balances owed to W PAYMENTS, pending chargebacks, or open regulatory disputes.
Definitive Cancellation: The Company may terminate the contract and permanently block the user's access, making it impossible for life to create new accounts within the W PAYMENTS ecosystem.
Deactivation: Temporary technical freezing applied when the Partner exhibits transactional inactivity exceeding twelve (12) consecutive months.
Preventive Suspension: Network protection measure applied when the Partner exceeds industry fraud thresholds, omits KYB/KYC update processes, or engages in transactions classified as suspicious. Routed funds will remain blocked in the custody infrastructure of Third-Party Partners for a period of up to one hundred and twenty (120) days while the forensic investigation is resolved.
10. Limitation of Liability
W PAYMENTS commits to providing its services under commercially reasonable availability parameters, but does not guarantee the technical infallibility of the internet or banking networks. Under no circumstances shall W PAYMENTS, TWC INTERNATIONAL LLC, its officers, affiliates, or developers, be liable for indirect damages, lost profits, consequential damages, punitive or incidental damages, loss of business opportunity, loss of data, or reputational damage arising from the use, unavailability, or interruption of the API, gateway failures, hacks, code injections, anti-money laundering (AML) compliance blocks, or force majeure events. The Partner unconditionally accepts that the aggregate, maximum, and total liability of W PAYMENTS for any failure directly attributable to fraud or gross negligence duly proven in court shall be strictly limited and capped at twenty percent (20%) of the net technology fees paid by the Partner in the twelve (12) months immediately preceding the event that caused the damage.
11. Funds in Transit; Absence of Custody or Ownership of Resources
In compliance with its legal and technical nature:
W PAYMENTS does not act as a bank, trust, financial institution, remittance company, or institutional custodian.
The processed resources are routed exclusively for the technical purpose of facilitating their settlement through regulated payment rail providers.
W PAYMENTS does not acquire ownership, property, credit rights, or discretionary asset control over the Partner's funds.
The transitoriness of the funds through operational clearing accounts does not constitute deposit-taking, irregular deposit, or a trust relationship.
Retention, enforcement, Compliance rejection, or blocking processes are executed in accordance with the strict regulatory frameworks of Third-Party Banking Partners.
The Company shall not be liable in any way for delays, reversals, or embargoes imposed by the UIAF, DIAN, or correspondent banks on transitional flows.
12. Service Fees and Currency Conversion
12.1 W PAYMENTS Fees. The Company charges and collects technology fees for providing its technical facilitation, B2B orchestration, instruction routing, and software infrastructure licensing (SaaS) services. These fees are settled according to the cost structure informed and accepted by the Partner at the time of their onboarding or the enablement of the corresponding module.
12.2 Third-Party Costs. The net fees applicable to the Partner may incorporate, reflect, or be inherently affected by the operational costs associated with the regulated Third-Party Partners. This includes, but is not limited to, payment rail provider margins, acquiring entity commissions (Interchange++), liquidity providers, clearing mechanisms (ACH/SWIFT), and compliance audit costs.
12.3 Currency Conversion (FX). W PAYMENTS is not a Foreign Exchange Market Intermediary (IMC), does not provide independent foreign exchange trading services (Forex), does not act as an exchange house, and does not set or guarantee conversion rates. Any currency conversion that is operationally necessary for the settlement of a transaction will be executed exclusively by financial Third-Party Partners, governed by their own terms, spread policies, and regulatory frameworks.
12.4 Dynamic and Estimated Nature of Values. The Partner understands and accepts that, for the unavoidable purpose of mitigating risk associated with exchange rate volatility and ensuring transactional transparency, the Platform implements an algorithmic synchronization of conversion rates. During the market operating window (between 8:00 a.m. and 1:00 p.m., Republic of Colombia time), the values reflected in the dashboard will experience dynamic and variable updates approximately every hour (1), seeking to maintain the highest possible fidelity with the real parity dictated by liquidity providers and Third-Party Partners. Once the market is closed, the displayed rate will remain static, anchored to the last algorithmic cut of the day, until the opening of the next business cycle. At all times, these values retain a strictly referential or estimated character, and may suffer definitive mathematical variations at the exact moment of material settlement by the banking network.
12.5 Absence of Guarantee on Rates or Outcomes. The Company does not guarantee under any circumstances the procurement of a specific, preferential, or favorable exchange rate (TRM). W PAYMENTS rejects any financial liability for exchange differences, market volatility, slippage, or additional costs arising from the conversion executed by the banking network.
12.6 Non-Transferability of Benefits and Internal Concepts. The Partner declares to know and accept that any logical balance, visualization, estimate, or fee reflected within the W PAYMENTS Account is of exclusive technical application within the closed ecosystem of the Platform. Consequently, these logical balances are not transferable, assignable, negotiable, or endorsable to third parties. Under no legal perspective do these concepts constitute a security, a tradable financial asset, or an enforceable credit right against third parties outside of the operational execution described in these T&C.
13. Intellectual Property
TWC INTERNATIONAL LLC and its affiliates are the absolute, worldwide, and exclusive owners of all copyrights, patents, industrial secrets, source codes, logos, and algorithms integrated into the W PAYMENTS ecosystem. Acceptance of these T&C grants the Ally a strictly precarious, revocable, non-transferable, and non-exclusive license to use the telematic interface. The Ally is strictly prohibited from decoding, reverse engineering, sublicensing, or commercializing the Intellectual Property of The Company.
14. Authorization for Personal Data Management
The Partner, acting with legally binding capacity, declares that they know, submit to, and fully accept the Comprehensive Policy for the Processing of Personal Data of W PAYMENTS.
Express Authorization: Irrevocably authorizes the Company to collect, store, transmit, and cross-borderly transfer its corporate information (Law 1581 of 2012 / Law 1266 of 2008) to Partner Third Parties and authorities.
Operational and Analytical Purposes: Authorizes the use of data for KYC/KYB execution, biometric matching, commercial risk profiling, reports in credit bureaus, data analytics, and algorithmic structuring.
Declaration of Ownership: Acknowledges the optional nature of answers regarding sensitive data, understanding, however, that the technical refusal to undergo liveness check (biometrics) processes prevents the provision of the Services.
15. Other Provisions
Exchange Obligations: It is the exclusive, non-delegable responsibility and at the sole risk of the Ally to strictly comply with the exchange control regime. The Ally assumes the filing of the exchange declarations before the Banco de la República de Colombia or its jurisdictional counterpart. W PAYMENTS remains harmless against sanctions by the DIAN due to exchange violations by the Ally.
Modification of the T&C: W PAYMENTS reserves the unilateral corporate prerogative to reform, add, or delete operational clauses of these T&C. Said modifications shall come into force ten (10) calendar days after their electronic publication. Continued use of the API after said period constitutes a novation of acceptance.
Dispute Resolution and Jurisdiction: For the purposes of material operation and commercial claims of Allies domiciled in Colombia, the parties voluntarily submit to the commercial laws of said Republic, agreeing to the jurisdiction of the ordinary judges of the city of Medellín. Said territorial submission strictly applies to operational disputes without implying the lifting of the corporate veil or the waiver by TWC INTERNATIONAL LLC of the commercial, corporate, and tax protections inherent to its jurisdiction of origin and incorporation, Wyoming, United States.
Comprehensive Indemnity (Hold Harmless): The Ally jointly and severally agrees to defend, indemnify, and hold W PAYMENTS, TWC INTERNATIONAL LLC, its shareholders, directors, and suppliers completely harmless against: (i) Fines or penalties imposed by processing networks (Visa/Mastercard); (ii) Investigations by tax authorities for tax evasion; (iii) Labor, civil, or commercial lawsuits filed by third parties, models, or clients of the Ally; and (iv) Disputes arising from intellectual property or copyright infringements, or the publication of unauthorized material through their financial flows.
Assignment and Entire Agreement: The Ally lacks the authority to assign, transfer, or endorse their contractual position or their W PAYMENTS Account. The Company may freely assign these T&C to any parent, subsidiary, or third-party acquirer. This document constitutes the entire and complete agreement between the parties, invalidating any prior verbal negotiations.
16. Special, Exceptional, and Conditional Services
The modules described in this section are of an eminently special, exceptional nature and are conditional upon risk thresholds. Consequently, they do not form part of the ordinary core of W PAYMENTS' basic Services and are not available on an unrestricted or permanent basis to all Allies. The enabling, continuity, terms, and modalities of these services shall be subordinated, at all times, to Compliance audits, risk criteria, and technical availability determined by W PAYMENTS, which reserves the right to suspend or discontinue them without this generating an acquired right or expectation in favor of the Ally.
16.1 SETTLEMENT SERVICE THROUGH DIGITAL ASSETS
16.1.1 Nature of the service. It constitutes a strictly operational and technical mechanism designed to allow the Ally to instruct the settlement of its operational income through stable digital assets (stablecoins). This service does not constitute financial intermediation, trading of cryptoassets, digital custody, investment advice, or public fundraising.
16.1.2 Role of W PAYMENTS. The Company operates exclusively as a telematics facilitator and orchestrator of the process. W PAYMENTS does not assume fiduciary custody, control, or possession of digital assets at any time. W PAYMENTS does not manage private wallets, does not custody cryptographic keys (Private Keys), and does not guarantee secondary market liquidity.
16.1.3 Enabled digital assets. Orchestration is restrictively limited to the use of parity or stable value digital assets (e.g., USDC, USDT), or those that the infrastructure determines to be technically and operationally viable in the future.
16.1.4 Irreversibility of the operation. Every settlement instruction routed to a blockchain network is definitive and immutable. Once the order is confirmed by the Ally, the decentralized nature of the technology makes its reversal technically impossible.
16.1.5 Execution terms and validations. W PAYMENTS will have an operational window of up to three (3) business days, counted from the receipt of the instruction, to route the settlement. During this period, fraud prevention validations, source of funds controls, and anti-money laundering (AML) compliance checks will be executed.
16.1.6 Risks assumed by the Ally. The Ally assumes one hundred percent (100%) of the exposure and inherent risks, including market variations, operational failures of blockchain networks (congestion, gas fees), and the absolute loss of funds resulting from typographical errors in providing the destination wallet address.
16.1.7 Limitation of liability. W PAYMENTS is completely exonerated from civil, contractual, or extra-contractual liability for loss of assets, hacks to decentralized networks, or the technical impossibility of recovering digital assets once the operation has been routed.
16.1.8 Regulatory compliance and source of funds. The Ally guarantees under oath that the funds subject to conversion and settlement originate from the ordinary and lawful course of its business. W PAYMENTS retains the absolute authority to block the order and freeze the account if algorithms detect exposure to dark web (Dark Web) addresses or wallets sanctioned by OFAC.
16.2 PAY ME NOW
16.2.1 Nature of the service. It is an exceptional operational facilitation tool structured to allow the Ally to instruct the early settlement of outstanding balances and confirmed accounts receivable, thereby boosting its working capital. This service is NOT, nor can it be judicially interpreted as, a credit service, commercial loan, fundraising, foreign exchange market (Forex), or investment mechanism.
16.2.2 Condition and enabling. Access to this module is purely discretionary. Enabling is subject to the Ally's internal risk ratings and its history of chargebacks.
16.2.3 Cut-off times. Instructions will be processed in strict compliance with clearing house schedules: Monday to Friday, from 8:00 a.m. to 1:00 p.m. (Republic of Colombia Time). Business days will be deemed those that are concurrent working days in Colombia and the United States of America.
16.2.4 Service modalities. Subject to prior risk clearance, the Ally may route instructions under:
Standard Pay Me Now: Instructions received during business hours estimate settlement within up to one (1) business day. Outside of hours, up to two (2) business days. The dynamic conversion rate in effect and reflected by the Platform at the exact moment of the physical execution of the order shall be irrevocably applied.
Priority Pay Me Now: Instructions during business hours estimate settlement on the same day, subject to banking network congestion. Outside of hours, up to one (1) business day. The dynamic conversion rate in effect and reflected by the Platform at the exact moment of the physical execution shall be applied. The Company does not guarantee margins or economic results in the face of intraday fluctuations.
16.2.5 Cancellations and modifications. Once the Ally triggers the instruction in the API, the order is irrevocable. Any request from the Ally to modify the destination banking information (subject to technical feasibility) will incur an administrative and operational cost of five United States dollars (USD $5.00), which amount will be automatically debited.
16.2.6 Errors attributable to the Ally. Any order rejected by the banking network due to erroneous information, inconsistencies in account numbers, or failures attributable to the Ally's negligence, will generate an operational penalty of five dollars (USD $5.00), debited directly from the settlement.
16.2.7 Settlement deduction. The capital advanced through this module will be automatically and irrevocably offset and deducted from the next regular settlement of funds processed by Third-Party Allies in favor of the Ally. If the flow is insufficient, W PAYMENTS will execute the deduction in subsequent billing cycles.
16.2.8 Validations and controls. W PAYMENTS retains the non-negotiable authority to suspend, defer, or reject