1. Agreement to Terms
By accessing or using PaYa ("the Service"), you agree to be bound by these Terms of Service ("Terms"). If you disagree with any part of these terms, you may not access the Service.
2. Description of Service
PaYa is a user-owned payment network that enables users to send and receive money through a full-reserve token system. Each token is backed 1:1 by U.S. dollars held in a reserve account. PaYa is not a bank, does not provide banking services, and does not offer interest on deposits.
3. Eligibility
To use PaYa, you must:
- Be at least 18 years old
- Be legally capable of entering into binding contracts
- Reside in a jurisdiction where PaYa is available
- Complete identity verification (KYC) as required
- Provide accurate and complete information
4. Account Registration
You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account. You must immediately notify us of any unauthorized use of your account.
5. Token System
PaYa tokens represent a claim on U.S. dollars held in reserve. Tokens are:
- Backed 1:1 by dollars in a reserve account
- Redeemable for U.S. dollars subject to redemption limits and fees
- Not securities, investments, or interest-bearing accounts
- Not transferable outside the PaYa network
6. Weekly Revenue Distribution
Active users may receive weekly revenue distributions. To be considered "active," you must send at least $1 publicly to another user during the week. Distributions are made in whole tokens only, with any remainder rolling to the next week's pool.
7. Fees
PaYa may charge fees for certain services, including but not limited to:
- Redemption fees for amounts over weekly limits
- Instant load fees for debit card transactions
- Instant withdrawal fees
- Merchant processing fees (when available)
All fees are disclosed before you complete a transaction.
8. Prohibited Activities
You agree not to use PaYa for:
- Any illegal activity or violation of laws
- Money laundering, fraud, or financial crimes
- Circumventing fees or limits through abuse
- Creating multiple accounts to game the system
- Harassment, threats, or harmful content
- Violating intellectual property rights
Violations may result in account suspension, termination, or legal action.
9. Privacy and Data
Your use of PaYa is also governed by our Privacy Policy. Public transactions are visible on the network feed. Private transactions remain private but do not count toward weekly activity requirements.
10. Intellectual Property
All content, features, and functionality of PaYa are owned by PaYa and are protected by copyright, trademark, and other intellectual property laws.
11. Disclaimers
PaYa is provided "as is" without warranties of any kind. We do not guarantee:
- Uninterrupted or error-free service
- Specific revenue distribution amounts
- Availability of all features at all times
12. Limitation of Liability
To the maximum extent permitted by law, PaYa shall not be liable for any indirect, incidental, special, or consequential damages arising from your use of the Service.
13. Indemnification
You agree to indemnify and hold PaYa harmless from any claims, damages, or expenses arising from your use of the Service or violation of these Terms.
14. Termination
We may suspend or terminate your account at any time for violation of these Terms or for any other reason we deem necessary. You may close your account at any time, subject to redemption of any remaining tokens.
15. Changes to Terms
We reserve the right to modify these Terms at any time. Material changes will be communicated to users. Continued use of PaYa after changes constitutes acceptance of the new Terms.
16. Governing Law
These Terms shall be governed by and construed in accordance with the laws of the jurisdiction in which PaYa operates, without regard to conflict of law provisions.
17. Contact Information
If you have questions about these Terms, please contact us through the methods provided on our website.
18. Severability
If any provision of these Terms is found to be unenforceable, the remaining provisions will remain in full effect.