Terms and conditions for the use of our guest checkout services.

Preambel

These are the terms and conditions of the contract concluded between you as a user of our services ("User") and Ivy GmbH, Reichenbachstr. 16, 80469 Munich, Germany ("Ivy"), governing the use of the Ivy Checkout.

1. Scope, sole validity of these terms and conditions

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a. These Terms apply to the use of the Ivy Checkout, which enables you to execute instant bank payments to businesses that partner with Ivy.

b. The following terms and conditions apply exclusively to the use of the Ivy Checkout. Deviating terms and conditions of the user are not recognised unless Ivy expressly agrees to their validity.

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2. Conditions of use

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a. You must be at least 18 years old and have full legal capacity to enter into a contract to use our services.

b. To use our service, you also need access to a smartphone, computer or tablet and an internet connection.

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3. Our services

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a. Ivy enables you to pay businesses directly with your bank account. When you select Ivy’s “Instant Bank Transfer” option at checkout, you will be redirected to your online banking. You are then able authorize the transaction from within your online banking interface. Recipient, amount and payment ID are already filled in. After execution of the payment you will be redirected to a success page, summarizing the details of your transaction.

b. Ivy's services are provided free of charge to the user.

c. The contractual partner of the respective purchase or pay-in remains the company which users pay with their bank account. The terms and conditions of the respective company therefore apply to the purchase or pay-in.

d. The payment of your purchases is handled by the payment service providers Tink AB ("Tink"), Plaid Financial Ltd. ("Plaid"), TrueLayer Ltd. 2022 ("Truelayer") and Stripe, Inc. ("Stripe"). For payment transactions, their terms and conditions apply in addition, which you can find here, here, here and here.

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4. Terms of use

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It is not permitted to process payments using Ivy,

1. that violate any laws, ordinances, rules or regulations (e.g. purchase of prohibited narcotics, stolen goods or illegal weapons);
2. which infringe any third party rights (e.g. trademarks, copyright or data protection rights); or
3. which involve an activity requiring a permit, without a permit having been obtained.

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5. Limitations of liability

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a. Ivy shall only be liable for damages to the user - for whatever legal reason - in the following cases

1. in case of intent
2. in case of gross negligence of our organs or executive employees
3. in case of culpable injury to life, body, health
4. in the case of fraudulently concealed defects or defects whose absence we have guaranteed
5. in the case of compulsory liability under special law.

b. In the event of culpable breach of material contractual obligations, we shall also be liable in the event of gross negligence on the part of non-executive employees and in the event of slight negligence, in the latter case limited to reasonably foreseeable damage typical for the contract. Material contractual obligations are obligations the fulfillment of which is essential for the proper performance of the contract and on the fulfillment of which the contractual partner regularly relies and may rely.

c. The above exclusions or limitations of liability also apply in favour of our employees, representatives and other vicarious agents.

d. Ivy furthermore assumes no liability whatsoever for the processing of payment transactions or the execution of your purchase by our aforementioned partner companies.

6. Termination of contract

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a. The contract is valid for three years from agreeing to these terms and conditions.

b. Ivy is entitled to terminate the contract of use without notice in the event of a breach of the conditions set out in clause 5.

c. The statutory provisions of termination shall remain unaffected.

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7. Applicable law

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German law shall apply, excluding the UN Convention on Contracts for the International Sale of Goods.

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