General terms and conditions for the service “Satispay Teens”

(Version 1.0| 8 January 2024)

These general terms and conditions constitute the agreement (“Agreement”) between the user, hereafter referred to as the “User”, aged between 14 and 17 years old, and Satispay Europe SA (“we”, “us”, “our” and “Satispay”). Satispay is a Luxembourgish-registered company, with a registered office at 53, Boulevard Royal, L-2449 Luxembourg. 

Satispay is an electronic money institution authorised and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”) with register number W00000010.

The Satispay Teens service (“Satispay Teens”) is exclusively reserved for natural persons between 14 and 17 years old acting for purposes that are outside their trade, business, craft or profession who are either resident or domiciled in one of the countries being part of the European Economic Area (“EEA”) listed in the register of payment and electronic money institutions under PSD2 established by the European Banking Authority. 

Use of the Services (as detailed below) requires the express consent of a parent or a legal guardian (hereinafter referred to as “Legal Representative”, or “you”). Consent is given by accepting this Agreement. The Legal Representative must be a registered active user of Satispay Consumer service to provide consent for the User. If such consent is not obtained, the User is not authorised to use the Services. 

The Legal Representative, by providing consent, also agrees to be bound by these terms and conditions on behalf of the User and assumes responsibility for the User’s compliance with this Agreement. However, the Legal Representative does not become a joint holder of the Account (as defined below) and the User is the sole holder. 

For the purposes of this Agreement, the Legal Representative represents and warrants to hold parental responsibility over the User. We reserve the right to request documentation at any time, verifying the relationship between the User and the Legal Representative.

In the event that the Legal Representative revokes their consent and/or in case of termination of the agreement between Satispay and the Legal Representative for the Satispay Consumer service, the User will cease using the Services immediately.

Upon reaching the age of majority, Satispay will invite the User to formally subscribe to the “Satispay Consumer” service, thereby taking on the responsibilities outlined in the related terms and conditions. Until this occurs or until the Agreement is terminated, the Legal Representative will continue to bear responsibility even after the User reaches the legal age of adulthood.

If you need further information on us and/or on Satispay Teens, you may refer to our Help Center.

1. Services

Subject to clause 2, Satispay will provide the User with the following services (“Services”):

  • an electronic money (“E-money”) account (“Account”) where the User may store funds and retrieve their transactions history;
  • a payment service that enables the User to make payments, also on a recurring basis, (“Payment Service”) to authorised merchants that accept E-money issued by Satispay (“Merchants”);
  • a peer-to-peer transfer service (“P2P Service”) that enables the User, also on a recurring basis, to send funds to other persons and to receive funds from other Satispay users;
  • a payment service that enables the User, also on a recurring basis, to make payments and/or transfer E-money to third parties such as public administrations, state entities or analogous bodies and/or juridical persons other than Merchants (the “Third Parties”), based on the specific function and instructions made available to the User in the App (the “Third-Party Service”);
  • a service that enables the User to use new features related to the above-mentioned services, based on the instructions we make available in the App (the “Related Services”). 

To access and use the Services the User must have installed the Satispay application (the “App”) on a mobile device (“Device”). The App can be downloaded from the main app stores.

The Account is not a deposit account and funds held in the Account will not earn any interest. The Account is opened in the name of the User and not on the third party’s behalf. The User can allocate their E-money in various sections of their Account (such as money boxes) by following the relevant instructions in the App. Funds we collect in exchange for E-money are safeguarded in compliance with applicable European and national regulations and cannot be tackled by Satispay’s creditors in case of its insolvency. For further information on how we ensure the safety of User’s funds, you may refer to our Help Center. The Services do not involve providing the User with a debit or credit card.

1.1. Payments

You consent to the User: (i) paying Merchants for goods or services using the Payment Service; (ii) sending E-money to a person using the P2P Service; (iii) paying and/or transferring E-money to Third Parties for goods or services using the Third-Party Service; (iv) performing transactions using the Account (each a “Payment”), by following the relevant instructions in the App. 

You also consent to the User’s utilisation of the Related Services.

1.2. P2P Service

If the User has authorised us to access their contact list,  they can initiate a Payment in favour of a person listed among their contacts by using their mobile phone number, even if they do not have an active Satispay account at the time of the initiation. Persons not having an active Satispay account can only claim E-Money by activating the account within the timeframe displayed in the App. If the deadline is not met, the Payment will be cancelled and the funds will be made available in the Users’s Account. Pending the activation of their contact’s Satispay account, the User cannot cancel the initiated Payment. 

Satispay’s decision on whether or not to activate the account of the User’s contact is made following the provisions set out under clause 2.

1.3. App

1.3.1. App Use

Subject to clause 16 of the Agreement, we grant the User a non-exclusive, non-transferable, royalty-free licence to use the App subject to this Agreement and the rules or policies of the app stores the User downloaded the App from. This licence also governs any software upgrades or updates of the App.

The App has not been created just for the User’s needs but has been developed for general use.

When the User downloads and uses the App, Satispay has access to some Device information, such as Internet Protocol address, Device name, OS version and, when the User grants their authorisation, geo-location data. When the User uses the App, it connects via their Internet connection.

The User shall not:

  • translate, adapt, vary, modify, violate, circumvent, reverse-engineer, decompile, disassemble, create derivative works or otherwise interfere with any element of the App, or assist another person to do so;
  • distribute, publish or otherwise transfer the App to any third party;
  • use the App in any unlawful manner, for any unlawful purpose, in any manner inconsistent with this Agreement, or act fraudulently or maliciously (e.g. by hacking into or inserting malicious code or harmful data into the App or any connected operating system);
  • attempt to install or use the App on any jailbroken/rooted device. Jailbroken devices refer to any devices where software restrictions imposed by iOS, Apple's mobile operating system, are removed. Rooted devices refer to any device where privileged control (known as root access) is attained over various Android, Google’s mobile operating system, versions;
  • collect or harvest any information or data from the App or our systems or attempt to decipher any transmissions to or from the servers running any service;
  • upload any content that is or may be considered violent, threatening, liable to incite racial hatred, in breach of confidence or privacy, discriminatory, defamatory, abusive, unlawful, pornographic, obscene, indecent, profane or that may cause annoyance or inconvenience.

We may terminate their use of the Services and the use of the App if the User:

  • uses the App for any illegal or immoral purposes, 
  • uses offensive, obscene, vulgar, blasphemous or slanderous terms in relation to or towards Satispay and/or its group companies and its employees and/or representatives, and/or 
  • commits a material or persistent breach of this Agreement.

If the User leaves Satispay we would suggest that for privacy/security reasons the User removes the App from all their devices.

From time to time we may update or modify the App:

  • to reflect changes in relevant laws and regulatory requirements; 
  • to offer new services; and/or
  • to implement minor technical adjustments and improvements.

We will let the User know when upgrades are available for the App. Some of these upgrades may be compulsory if they are to continue using the App and some older versions of the App may become obsolete or cease to be supported over time.

We assume that the User has obtained permission from the owners of any Devices they use but don’t own, to download or install the App. Either or both of them may be charged by their service provider for Internet access on the Devices.

By using the App, the User allows us to collect and use technical information about the Devices and related software, hardware and peripherals. This allows us to improve our products and to provide our services.

1.3.2. App availability

There are times when we may need to carry out planned maintenance on the App. When we do this all or some of the features on their App might be unavailable for a while, so we ensure we give the User advance notice before we do this.

In the event of unplanned maintenance (for example, a technical fault or system error) we will make every effort to restore the Services as quickly as possible.

We are not held liable for any consequence arising from the App being unavailable as a result of any technical issue that is beyond our control. This includes unavailability of connectivity and technical issues with the User’s Device.

1.3.3. App analytics

To make sure we are offering the User the best experience we can, we will record events within the App, including page dwell time, time to complete processes, and how the User uses the App. This may also include the use of location data, connectivity type and technical Device specifications. We do this to help with any problems we may encounter and also to monitor App usage and make improvements. Further details may be found in our Privacy Policy.

1.3.4. App Security

In order to access the App the User is required to create a PIN code. The User is responsible for keeping their mobile Device and security details safe and ensuring that no one else can access the App without their authorization. 

The User must:

  • Take all reasonable steps to avoid the loss, theft or misuse of their Device;  
  • Keep their security details safe at all times by memorising them as soon as possible and not disclosing them to anyone. 

Failure to comply with these obligations may be treated as gross negligence and may affect the User’s ability to claim any losses. 

If you and/or the User suspect that the Account or security details have been compromised, we must be notified as soon as possible, by using the addresses set out in Clause 5.1 below. 

1.4. Loading funds to the Account

Funding the Account is possible through E-Money received via the P2P Service. Details will be made available to you through the App upon the acceptance of this Agreement.

1.5. Payments approval

1.5.1. Single payments

In case a Payment is to be approved (i) by a Merchant, it has the opportunity to refuse such Payment, if the amount doesn’t fit with the underlying purchase; (ii) by the User, they have the opportunity to refuse such Payment for any reason.

Once a Payment is approved, it cannot be revoked.

1.5.2. Recurring and automatic payments

The User may grant their consent to execute recurring or automatic Payments (i) related to the P2P Service or a Third-Party Service, by following the instructions provided through the App; and/or (ii) in compliance with the terms agreed with a Merchant. In such circumstances, the Payment is considered approved when the User (i) sets the recurring P2P Service or Third-Party Service on the App or (ii) authorises a Merchant to automatically debit their balance according to the frequency of their purchases and subscriptions. 

The User has the right to withdraw, at any time, with immediate effect, their consent for future recurring  Payments; it is understood that no refund will be made or due for any approved Payments which have already been performed in compliance with the instructions the User provided via the App, or the terms agreed between the User and the Merchant.

1.6. Payment execution

All Payments are executed in Euro currency.

When the User is the payer, in case of (i) single payments, we promptly execute the Payment by transferring the corresponding amount to the payee at the very moment the payment is confirmed by the App; (ii) recurring or automatic payments, we transfer the amount to the relevant Merchant on the dates the User agreed with the latter and to the relevant User or Third-Party on the date the User specified in the App.

When the User is the recipient of a peer-to-peer Payment, we promptly credit the corresponding amount to their Account upon confirmation of payment receipt by the App.

Except for the provisions set out under paragraph 1.2, we retain the right to reverse peer-to-peer Payments within ten days following the Payment in cases where the payer's funds are unauthorised.

1.7. Payment report

The Legal Representative may request a list of transactions performed and received by the User, at any time. The request should be sent by using the channels provided for in clause 5.1 below.

2. Activation 

You The User may have only one Account under this Agreement.

To activate the Services, the User must install the App and provide the information and documents required to prove their identity. Additionally, Satispay may carry out electronic verifications of your information.

When we carry out these checks, their personal information may be disclosed to third parties (such as credit reference agencies and/or fraud prevention agencies) in compliance with our Privacy Policy, as per clause 14 below. 

Upon positive completion of our internal checks, we will make the Services available to the User.

In order to use the Services, you acknowledge and agree that checks on the User, as described in this Agreement, will be conducted.

The Services are financial services and we are required by law to hold certain information about our customers. We use the provided information and documents to render the Services and to identify you and the Account in the event of any unauthorised activity. We only keep such data as long as it is necessary and for the purposes set out in Clause 2, as well as in Clause 14.

We may not activate the Services or deny, suspend or limit access to the Services in the event that: (i) we are unable to obtain from the User and verify the information and documents needed to perform the checks; (ii) we are not satisfied with the results of the checks in light of the obligations imposed on us by the law; (iii) providing the Services to the User may harm our business, reputation and/or expose us to any offence or risk of financial losses or liability to us. 

We may not always disclose specific details regarding any failed verifications to safeguard our verification process and, more broadly, the provision of the Services.

3. Spending limits and restrictions

We reserve the right to set limits on the amounts and volumes of Payments that the User is permitted to make using the Services. These limits will be specified in your application upon acceptance of this Agreement.

We also reserve the right to restrict the use of the Services for purchases at specific Merchants and/or shops.

4. Fees

No fees or charges are applied to the User for holding the Account and using the Payment Service and/or the P2P Service either to make or receive transfers to or from another person or to make payments of any value to offline and online shops. Any fees or charges associated with the User using the Third-Party Service and/or the Related Services will be shown on the App and/or the Third Parties’ platform at the time of each relevant payment. The User will have the opportunity to review and approve these charges before finalising the Payment. You can see all our current fees on our Personal Account pricing page

5. Communication

5.1. How to contact us

To contact us, you and/or the User may 

  • Use the “Contact Us” function in the App;
  • Send us communication by email to or via post at Satispay Customer Services, 53, Boulevard Royal, L-2449 Luxembourg.

5.2. How we may contact the User

We may contact the User using the App. However, if necessary, we may contact you and/or the User by email, via push notifications, social media and/or by phone call, using the details the User provided in the App.

If those details change, the User should inform us as soon as possible.

5.3. Language

This Agreement is written in English. Any communications related to this Agreement will be in English and any translation into other languages is considered a mere courtesy translation.

Where this Agreement, additional terms and conditions or any notice or other document relating to this Agreement is provided in a language other than the English language, then the English language shall prevail in case of a conflict. However, the language prevailing at the place of the User’s residence or domicile may also apply if mandatory applicable User-related provisions are concerned.

5.4. Copy of Agreement

You and/or the User can contact us to request a copy of this Agreement, which will be sent by email free of charge.

6. Suspending the Services

We reserve the right to suspend the User’s access to the Services if we have reasonable concerns about the security of the Account or we suspect the Services are being used in a fraudulent, immoral or unauthorised manner or we identify a material breach of the User’s obligations under this Agreement, as well as in case the User has used offensive, obscene, vulgar, blasphemous or slanderous terms in relation to or towards other Satispay users, Satispay group, and its employees and/or representatives. In that case, the User cannot use the App to make any Payments.

We will promptly notify the User of any such suspension, detailing the reasons for the suspension, unless such disclosure would compromise reasonable security measures or be deemed unlawful. 

Upon the end of the reasons for the suspension, we may lift the suspension and, as applicable, provide new security details free of charge.  

7. Disputed Payments

7.1. Unauthorised and incorrectly executed Payments

We assume that all Payments are authorised by the User unless we are notified otherwise. 

If the User believes they did not authorise a particular Payment or that a Payment was incorrectly carried out (for example, the paid amount is incorrect), you and/or they must contact us within 13 months from the date of the Payment. 

We will immediately conduct an investigation and we will acknowledge the dispute within 72 hours. We will let the User know the outcome of our investigation as soon as possible. If we verify that a Payment was not approved by the User or incorrectly carried out, we will promptly refund the amount directly to their Account.

7.2. Liability

The User is liable for all losses incurred in respect of an unauthorised Payment if they have:  

  • acted fraudulently; or 
  • intentionally or with gross negligence failed to: (i) look after and use the security details in accordance with the Agreement; or (ii) notify us of the problem in accordance with clause 7.1. 

7. 3. Exclusion of Liability

Except where the User has acted fraudulently, they are not liable for any losses incurred in respect of any unauthorised Payment that arises after their notification to us.

7.4. Investigation

If an investigation shows that any disputed Payment was authorised by the User or that the User may have acted fraudulently or with gross negligence, we may reverse any refund made and the User may be liable for the losses we suffer in connection with the Payment including but not limited to the cost of the investigation. We will give the User reasonable notice of any reverse refund.

7.5. Refusal

In certain circumstances, we may refuse to complete a Payment that the User has authorised.  These circumstances include:

  • if we have reasonable concerns about the security of the Account or we suspect the Services are being used in a fraudulent or unauthorised manner;
  • if there are insufficient funds in the Account to cover the Payment and all associated fees at the time that we receive notification of the Payment;
  • if Users have reached the monthly cap as set out in Clause 3 of the Agreement;
  • if we have reasonable grounds to believe the User is acting in breach of the Agreement; or
  • if we are required to do so by law or by a court order.

Unless it would be unlawful for us to do so, where we refuse to fulfil a Payment the User initiates, we may notify the User of the refusal as soon as reasonably practicable, along with the reasons for it. Additionally, if applicable, we will provide guidance on correcting any factual errors that contributed to the refusal. 

8. Cooling off

You and/or the User have 14 days to withdraw from this Agreement without incurring any penalty and without giving any reason. This period begins upon the acceptance of this Agreement and after you and the User have received the terms via email. Any Payment executed during this 14-day period is not affected by that withdrawal and will not be reversed and/or refunded.

9. Termination

You and/or the User may terminate the Agreement at any time by contacting us.

We may terminate this Agreement with immediate effect in the following cases:

  • the User does not provide us with all of the information we need to open or operate their Account or use the Services; or
  • the User was not entitled to open the Account or use the Services; or 
  • we determine that the Legal Representative is not the parent/guardian of the User and you/the User fail to provide adequate documentation to prove such relationship; 
  • the User breaches an important part of the Agreement, or repeatedly breaches the Agreement and fails to resolve the matter within 10 days; or
  • the User uses the Services in a manner that we believe is fraudulent or unlawful; or
  • continuing to provide the Service to the User may harm our business, and reputation and/or expose us to any offence or risk of financial losses, insolvency or liability; or
  • we need to do so to comply with the law or court order; or
  • if you cease to be our customer for the Satispay Consumer service upon termination of your agreement with us.

We may terminate the Agreement without any reason by giving you and the User a 60-day prior notice.

We will not always provide specific details regarding any termination to protect our internal processes and, more broadly, the provision of the Services.

If we do not insist that you and/or the User perform your obligations under this Agreement, it does not mean you both do not have to. Similarly, if we do not enforce our rights under this Agreement, or we delay in doing so, it does not mean we have given up those rights.

If the Agreement terminates, the User is prevented from accessing the Services. Any unused E-Money in the Account will be automatically redeemed in accordance with Clause 11, unless we are not permitted to do so to comply with the law.

10. Duration

This Agreement is a framework contract of indefinite duration for the purposes of the Luxembourg law of 10 November 2009 on payment services, as amended. 

11. Redemption of E-Money

The User can redeem all or part of the E-Money held in the Account, by transferring it from the Account to the Legal Representative’s e-money account, using the P2P Service. The transfer is automatically executed in case of termination of this Agreement.

Redemption of E-Money as set out by the Luxembourg law of 10 November 2009 on payment services can be requested only by the Legal Representative, according to the terms and conditions set out for the “Satispay Consumer” service.

12. Purchases

We are not responsible for the safety, legality, quality or any other aspect of the goods and services purchased using the Services. Any complaints should be made directly to the relevant Merchant.

A Merchant may refund the User via Satispay for any reason, e.g. if the User returns the faulty goods. In that case, the funds will be credited to the Account.

13. Amendments to the Agreement

If we need to make any amendment to this Agreement, we will notify you and the User of the amendments 60 days before their effectiveness, except where the amendments are required under the law or they do not cause prejudice to the User’s rights and obligations, in which case they will be immediately effective. This allows the Legal Representative and the User to consider the amendments that require prior notice; in case you and/or the User disagree with any of the amendments, you and/or the User will have the right to terminate the Agreement as per clause 9 - Termination.

Copies of the most up-to-date version of the Agreement are made available in the App and on our website at all times. 

14. Data Protection 

Satispay is a data controller of the User’s personal data and manages and protects it in accordance with Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (“GDPR”) and any other applicable data protection laws (jointly, the “Applicable Data Protection Laws”).

It is the sole responsibility of Merchants to ensure any personal data shared with them at the time of making a Payment is managed and protected in accordance with the Applicable Data Protection Laws.

Satispay will collect and process personal data relating to the User in compliance with our Privacy Policy, which you as Legal Representative are aware of and agree to by accepting the Agreement. 

Satispay is subject to secrecy obligations. Satispay will therefore not disclose any personal data collected except if authorised or required by law (or court order) or explicitly authorised by this section and/or provided for by our Privacy Policy.

When entering into a business relationship with Satispay, you authorise Satispay to disclose the User’s personal data, in accordance with the applicable laws (including the Applicable Data Protection Laws), to third parties whose involvement is necessary for Satispay to provide its e-money services as regulated by data processing agreements executed by Satispay and such third parties and in our Privacy Policy. In this case, Satispay will ensure that such third parties are subject to secrecy obligations equivalent to the secrecy obligation applicable to Satispay pursuant to Luxembourg laws and our Privacy Policy.

The User shall inform Satispay as soon as possible of any change in personal data collected and to supply Satispay upon request with any additional information we deem it useful to the business relationship and/or that is required by applicable laws or regulations. 

15. Complaints

If the User is not satisfied with the Services, we need to be contacted (see contact details in clause 5.1) so we can try to resolve their issues. We will promptly acknowledge the receipt of the complaint and send a copy of our complaints procedure. 

A copy of our complaints procedure can be requested at any time and can also be found here. The User should cooperate with us and provide the necessary information to enable us to investigate and resolve the complaint as quickly as possible. 

You may be able to take unresolved complaints to the Commission de Surveillance du Secteur Financier. The complaint can be filed either by filling in the online complaint form where all relevant documents can be attached or by sending the completed complaint form (PDF):

  • either by mail (simple mailing, no registered letter required) to the following address: Commission de Surveillance du Secteur Financier, Département Juridique CC 283, route d’Arlon, L-2991 Luxembourg
  • or by email to the following address: 

16. Intellectual Property Rights

All content included in our App (including all user-facing material, and all underlying material such as code, software and databases) and the copyright and other intellectual property rights in that content, unless specifically labeled otherwise, belongs to or has been licensed by us. All content is protected by applicable intellectual property laws and treaties.

By Intellectual Property Rights we mean all vested, contingent and future intellectual property rights including but not limited to the copyrights, trademarks, service marks, design rights (whether registered or unregistered), patents, know-how, trade secrets, inventions, set-up, database rights and any applications for the protection or registration of these rights and all renewals and extensions thereof existing in any part of the world whether now known or in the future created which Satispay or other Satispay Group companies may be entitled to.

17. Third parties content

We may provide links to third parties’ content such as, but not limited to, websites, web apps and downloadable apps. Unless expressly stated, this content is not under our control. We neither assume nor accept responsibility or liability for such third-party content. The provision of a link by us is for reference only and does not imply any endorsement of the linked content or those in control of it.

18. Force Majeure

We are not liable for any breach of the Agreement where the breach is due to abnormal and unforeseeable circumstances beyond our control, the consequences of which would have been unavoidable despite all effects to the contrary.

We cannot be held liable where the breach is made to comply with our legal obligations.

19. Severance

If any term or provision in the Agreement shall be held to be illegal or unenforceable, in whole or in part, under any enactment or rule of law, such term or provision or part shall to that extent be deemed not to form part of the Agreement but the validity and enforceability of the remainder of the Agreement shall not be affected.

20. Assignment

We may assign the receivables as well as the rights and/or obligations arising out of this Agreement to another company at any time by giving you prompt notice of this. If we do this, the User’s rights will not be affected.

21. Governing law and jurisdiction

This Agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation are governed by and construed in accordance with the laws of the Grand Duchy of Luxembourg; however, if mandatory applicable or more consumer-protective provisions are concerned, the law at the place of the User’s residence or domicile may also apply. 

Each party irrevocably agrees that the jurisdiction of the Courts located at the User’s residence or domicile settles any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this Agreement or its subject matter or formation.

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Satispay Europe S.A. | 53, Boulevard Royal, L-2449 Luxembourg | VAT LU30726739 | a company of the Satispay S.p.A. Group

Electronic Money Institution authorized and regulated by the CSSF, register number: W00000010.