These End-User Terms of Service (“Terms”) set out the rules that apply to you (“you”, “your”) whenever you use our payment initiation services (“PIS”) provided by Ivy Pay Oy (“Ivy”, “we”, “us”, “our”). Our Services are offered through the applications or websites of our customers, such as merchants, financial institutions, or other service providers (“Partner(s)”). In some cases, they may also be offered through the customers of these Partners. To use our Services, you must accept these Terms by clicking “Continue” or “Accept.” Doing so forms a binding agreement between you and us. These Terms explain how we provide our Services and, in accordance with Finnish law, include all legally required information about the distance contract for our financial services before you decide to use them. Please review these Terms carefully each time before you accept them, and consider downloading and saving a copy for your records. If you do not agree to these Terms, you will not be able to use our Services.

Please note: These Terms apply only to our Services. If you use any applications or websites provided by a Partner (“Partner Service”), your use of those services is governed by a separate agreement between you and the Partner. These Terms do not affect any agreement you have with the Partner. Some information may also be provided to you as required by law when you use our Services.

1. Who We Are

   1. Ivy Pay Oy is a licensed payments institution based in Finland, authorised by the Finnish Financial Supervisory Authority (FIN-FSA). Our company is registered under the national identification number 3292703-8, with our head office located at Konepajankatu 1, 00510 Helsinki, Finland.. This license enables us to act as payment service provider in the EEA.

   2. We can be contacted at support@getivy.io for any questions, complaints, or service-related inquiries. Ivy Pay Oy is supervised by the Finnish Financial Supervisory Authority (FIN-FSA), which can be contacted at P.O. Box 103, 00101 Helsinki, Finland or through www.finanssivalvonta.fi.

2. How Our Services Work

   1. With your explicit consent and based on your instruction, Ivy Pay Oy can initiate payments directly from your account held with your Account Servicing Payment Service Provider (“ASPSP”) to your chosen recipient. This process is entirely enabled and authorised by you. 

   2. After selecting your ASPSP, you will be securely redirected to enter your login details through a web browser, your banking app, or directly via our platform. Your login process may include two-factor authentication, such as a password combined with biometric credentials (fingerprint or Face ID). You will authenticate yourself with your Account Provider exactly as you would when accessing their own applications or websites.

   3. Important Notes:

      1. We and our Partners never have access to or visibility of your login credentials

      2. If you cannot authenticate with your ASPSP, we may be unable to provide the Services

      3. Your ASPSP sets their own authentication requirements, which we cannot control and accept no responsibility for

3. Making a Payment

   1. When making a payment, you will be asked to provide certain payment details. Depending on the functionality of the Partner Service, these details may either be pre-filled for you to review and confirm, or you may need to enter them yourself. The information required for a payment (“Single Payment Order”) typically includes:

      1. Details of the Beneficiary (the person or entity you are paying)

      2. The amount to be paid

      3. A description or reference for the payment

      4. The date on which the payment will be made

      5. Any other mandatory information requested during the payment or checkout process

      6. Your clear and express consent to the payment

      7. The Payment intermediary

   2. Please note that the specific information required may vary depending on your ASPSP. You are responsible for making sure all payment details are correct before authorising us to initiate a payment, and for ensuring there are enough funds in your chosen account. If a currency conversion is involved, it will be performed by your ASPSP according to their rates and fees, which you should review. Ivy does not perform currency conversion. If you notice any discrepancies or errors in the payment details or amount, do not proceed with the transaction. Always double-check the identity and information of the Beneficiary before giving your approval for any payment. 

   3. The payment will typically be credited to the Beneficiary’s account within one business day, unless your ASPSP supports SEPA Instant or other real-time payment methods. We do not guarantee the timing of the final credit.

   4. Where you have provided explicit consent to initiate a payment, and access to details of the payment account is required, such information may be obtained from your ASPSP or a third-party provider. This information may, in certain cases, also be shared with the Partner depending on the Partner’s services. The data accessible may include, but is not limited to, transaction history, transaction amounts and descriptions, account names and numbers, current balances, savings, loans, investments, and other related financial details. We do not assume any responsibility or liability for the accuracy, completeness, or reliability of the information received from the ASPSP or third-party provider.

   5. After your Account Provider successfully completes the authentication process, you will be prompted to select the payment account from which the transaction should be initiated (unless you have already designated an account during a prior interaction with the Service, depending on how the specific Partner has configured the payment process). We will send the payment summary to your ASPSP and instruct them to complete the transaction, ensuring the payment is credited to the chosen recipient as specified. 

6. Once we receive your Single Payment Order, the payment is initiated almost immediately. As a result, you cannot withdraw your consent for that payment after the order has been submitted. The ASPSP is solely responsible for the execution of the payment transaction. However, the ASPSP does not control or guarantee the acceptance or final processing of the payment. Accordingly, delays, failures, or errors in transmission may occur, and such risks are beyond our control.

4. What if something goes wrong?

   1. If you notice a payment that seems incorrect, unauthorized, or not properly processed, contact your Account Provider as soon as possible. They are responsible for helping you and issuing a refund if you're entitled.

   2. If you delay reporting beyond 13 months or fail to follow required security measures (including acting fraudulently or with gross negligence), you may lose your right to a refund and be liable for the full amount.

   3. You should be aware that your Account Provider (ASPSP) may contact you directly—not through us or any third party—if there is an issue with a payment instruction submitted via our Payment Services, such as insufficient funds or authorization problems. Such matters will be handled in accordance with the terms you have agreed upon with your Account Provider.

   4. If you have a complaint about Ivy’s services, please contact us at support@getivy.io. We will respond within 15 business days, or in exceptional cases, within 35 business days. If you are not satisfied with our response, you may refer the matter to the Finnish Financial Ombudsman Bureau (FINE) or your local alternative dispute resolution body.

5. Who Can Use Ivy Pay?

   1. You may only use our Services if you meet the following requirements:

      1. You are at least 18 years old, or otherwise have the legal right to accept these Terms in accordance with applicable law.

      2. The account with your Account Servicing Payment Service Provider (ASPSP) to which your authorisation relates is located in the EEA.

      3. If you are using the Services to access accounts held by a legal entity (such as a company or other organisation) that you represent, you are accepting these Terms on behalf of that entity.

      4. All information you provide to Ivy and/or any Third Party is true, accurate, complete, and up-to-date, and you are the person whose details have been provided.

      5. You are able to enter into a legally binding agreement with Ivy.

      6. You will only use the Services as described in these Terms.

      7. If any intellectual property rights belonging to you are included in the Financial Information you provide, you grant Ivy a non-exclusive, sublicensable, royalty-free licence to use them as necessary to fulfil our obligations under these Terms.

6. Can you block my payments or stop me from using the service?

   1. Ivy may refuse to provide our Services, including declining to submit an instruction to your ASPSP, if we reasonably believe that:

      1. Your security details have been compromised or the instruction was not submitted by you

      2. You fail to complete required authentication procedures

      3. Technical issues prevent secure service delivery

      4. You, your ASPSP, the relevant account, or the instruction/consent are connected to fraudulent or criminal activity

      5. Submitting the instruction would involve us in criminal activity, violate the law, or breach regulatory or contractual obligations

      6. Carrying out the instruction would expose us to enforcement action by authorities

   2. If we refuse to submit an instruction, we will not send it to the ASPSP and will not be liable to you for this refusal. Where required by law, we will inform you or the relevant Third Party and provide the reasons for our refusal. If we detect a security risk, unauthorised use, or suspect fraud or illegal activity, we may temporarily block the Services or your access. We will notify you using your available contact details (such as phone, email, or via the Partner), unless prior notice is not possible under the circumstances.

7. Changes to These Terms

   1. We will provide you with at least one month's written notice of any significant changes to these Terms, along with the updated version, via our website. If you do not agree with the proposed changes, you should stop using our Services. By continuing to use our Services after the changes take effect, you will be considered to have accepted the updated Terms.

8. If You Need to Get in Touch

   1. In the event of suspected or actual fraud or security threats in relation to any of your Payment Accounts, please contact the Third Party and your ASPSP directly.

9. Fees and Costs

   1. You will not be charged any fees by us for using the Services as an end user. However, your mobile or internet provider may charge you for connectivity, and the Partner may charge fees for using their service.

10. Your Rights and Our Intellectual Property

    1. Ivy’s services, website, or All content, technology, including but not limited to software, text, images, graphics, and logos, are owned by Ivy or its licensors and are protected under applicable intellectual property laws. Your use of these materials is limited to the scope necessary to access and use the services provided by Ivy and does not transfer any ownership rights to you. You may not reproduce, modify, distribute, or otherwise use any of Ivy’s intellectual property for any other purpose without prior written permission. features, and materials used in connection with

    2. "Ivy" and related marks are trademarks of Ivy Inc. Unauthorized use of any Ivy trademarks is strictly prohibited and may result in legal action. Any rights not expressly granted herein are reserved by Ivy.

11. Our Liability to You

    1. To the maximum extent permitted by law, Ivy is not liable for any loss or damage you may suffer in connection with your use of the Services in the following circumstances (which, for clarity, include matters outside of our control and/or services not provided by us):

       1. where the loss arises from the actions, omissions, or systems of a third party, including your ASPSP (such as issues with payment execution, account information accuracy, or service functionality);

       2. any unauthorised access to your login credentials, device, or personal information that occurs outside of our reasonable control;

       3. your use of any products, services, or content provided by third parties or Partners, including any financial or commercial decisions you make based on such use;

       4. issues caused by third-party infrastructure on which our Services rely, such as your internet or mobile service provider;

       5. your breach of these Terms, use of the Services for unlawful or prohibited purposes, or failure to take reasonable steps to safeguard your device and credentials;

       6. if we suspend, restrict, or refuse your access to the Services;

       7. if you knew of the risk of unauthorised access but failed to notify us promptly; or

       8. where the circumstances causing the loss were abnormal, unforeseeable, or otherwise unavoidable despite our reasonable efforts.

    2. Nothing in these Terms excludes or limits our liability where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence, for fraud, or for fraudulent misrepresentation.

    3. If you are located in the EEA (excluding Sweden), you should be aware that if you are entitled to a refund for an incorrect or unauthorised payment, you may still be liable for up to €50 for any losses resulting from unauthorised transactions that occur after the loss or theft of your payment instrument and before you notify us. If you have acted fraudulently, or have intentionally or with gross negligence failed to safeguard your login credentials or payment instrument, you may be held responsible for all losses incurred due to the unauthorised transaction.

12. How Long Does This Agreement Last?

    1. The agreement between you and Ivy is formed each time you click “Continue” or “Accept” to use the Service. That agreement automatically ends once the requested information is retrieved from your account or the payment is initiated. Each use of these one-off services constitutes a separate, standalone agreement that concludes upon completion of the respective service.

13. Language and Access to Terms

    1. These Terms are provided in English. In case we offer services in other countries, translations may be provided. However, the English version shall prevail in case of discrepancies. You may request a copy of these Terms at any time.

14. Complaints and Legal Jurisdiction

    1. Payment services provided by Ivy Pay Oy are governed by Finnish law. Any dispute, claim, or controversy related to these payment services will be subject exclusively to Finnish law and resolved in the courts of Finland. If any provision of these Terms is found to be invalid or unenforceable, the remainder of the Terms will remain fully effective and enforceable.