Terms and Conditions

Last updated: 05 June 2018

Please read this Agreement before submitting a request for Paays Services (as defined below).

These terms of use form a legal agreement (the “Agreement”) between you (“you” or “your”) and Paays Financial Technologies Inc. (“Paays”, “we”, “us” or “our”).  By clicking a box indicating your acceptance and submitting your information to Paays through the Paays website (www.paays.com) you confirm your acceptance of and agreement to be bound by these terms.  

If you do not agree with the terms of this Agreement, or are not a Canadian resident, you must not accept this Agreement and may not access or use the Paays Services.


This Agreement sets out the terms and conditions of:

 1.1        Financing services offered by Paays using the Paays Platform (as defined below), together with Merchants (as defined below) (the “Paays Services”); and

 1.2        Your access to and use of the website paays.com which is operated by Paays (“Website”) including all content, services and products available at or through t he Website.


2.1         By accessing the Website and/or submitting an application for the Paays Services, you agree to comply with the terms and conditions of this Agreement.

2.2     The terms of this Agreement extend to any future updates or supplements to the Website or the Paays Services.  Additional Paays services or Platform features may be made available subject to specific terms applicable to those services or features, which will apply if such service or feature is selected by you.


3.1      Paays makes available a proprietary online platform which allows consumers, Merchants, Lenders, and Paays to connect at the point of purchase.

3.2      When you make a purchase with Paays Services, you are purchasing the Product (as defined below) from the Merchant only, not Paays.  Please refer to the Merchant for details of any terms or conditions applying to your purchase of the Product, including any cancellation rights or refunds.

3.3     By introducing you to potential Lenders, including those with whom you may establish borrowing relationship, Paays may be considered a “loan broker” (or its equivalent) under applicable legislation in Canada.  Where required, Paays has registered as a loan broker (or its equivalent).

3.4     Through the Paays Platform, eligible individuals are shown loan offers from one or more Lender.  Should you agree to accept a Lender loan offer, your borrowing relationship, and future communication regarding the selected loan financing and the relationship, will be solely with the individual Lender.  Please refer to your loan agreement with the Lender, or its affiliates and assigns, for terms and conditions of your borrowing and repayment.

3.5     If you have any questions or if you have any complaints, please email us at info@paays.com.


4.1    For the purposes of this Agreement, unless stated otherwise, the following words shall have the following meanings:

“Paays Platform” means the Website, any microsite of Paays within the Merchant’s website, the loan system of Paays accessed via the sales computers or other browsing computers, including tablets and mobile devices, at the Merchant’s premises, and other sales channels which allow the Merchant and Paays to communicate from time to time, including telephone.

“Intellectual Property Rights” means all intellectual property rights in and to the Paays Platform and all content, materials, and publications of Paays, in whole and in part, as recognized in Canada or any other jurisdiction, in each case whether registered or unregistered, including patents, copyright, trademarks, industrial design, goodwill, the right to sue for passing-off, the right to exclusivity in derivative rights, and the right to enforce each, as well as all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part.

“Lender” means each financing lender(s) selected by Paays to receive your Personal Information in order to evaluate and adjudicate your financing request, whom may, from time to time grant loans through the Paays Platform, and “Lenders” shall mean all such Lenders taken together.

“Loan” means the specific financing agreement agreed to between you and a particular Lender as further described in s. 3.7.

“Merchant(s)” means the merchant(s) affiliated with the Paays Platform from which you purchase the Product.

“Paays Services” means the services provided by Paays to an eligible consumer as set out in this Agreement and described in s. 3.1 as may be updated from time to time by Paays through changes to the Paays Platform.

“Personal Information” means information about you as an individual including name, address, telephone number, date of birth, Canadian Social Insurance Number, credit card details, banking information and employment history, which information may be used directly or indirectly to identify you personally.

“Product” mean the product or service purchased from the Merchant using the Paays Services.


5.1.     Paays shall, with the receipt of your Personal Information from you, and subject to the terms and conditions set forth in the Agreement, provide you with the following services:

  • creation of an individual account profile (your “Account”) on the Platform containing your Personal Information, which Account shall allow you to access information on the Website regarding your use of the Paays Services;
  • the submission of your Personal Information to third-parties service providers for the purposes of confirming your identity and evaluating and adjudicating your financing request;
  • for all individuals verified as eligible to receive the Paays Services, the submission of your Personal Information to one or more Lenders in order to obtain an offer of financing personal to you; and
  • for all individuals who then elect to proceed with a financing request, the receipt and collection of further Personal Information about you, the addition and management of this Personal Information to your Account as disclosed and specified on each page where the information is to be submitted to Paays, the disclosure and receipt of your Personal Information with third parties as authorized by you at each step in order to proceed including authentication of identity and financial particulars, the presentation of financing offers for all approved submissions, the facilitation of securing your loan documentation and delivery of your electronically signed documentation to the applicable Lender, and the advancing of the loan funds to your selected Merchant for the completion of the Product purchase.

5.2     To be eligible for the Paays Services, you must:

  • Be of the age of majority in your province or territory of residence;

  • Be a permanent resident in Canada;

  • Additionally, in order to receive the Paays Services in respect of loan financing, you must be verified as an individual with a credit profile acceptable to both Paays, and least one Lender, each in its sole discretion

5.3  To apply for the Paays Services, you must, either alone or assisted by a Paays representative, use the Paays Platform to:

  • Provide Personal Information for use in conducting credit checks and verifying payment arrangements.;

  • Confirm and authenticate your bank details by logging in to Paays’ bank authentication API;

  • Provide all required Personal Information for use in conducting identity checks, and

  • Provide all other information, answer all questions, click all buttons, and tick all boxes prompted on the Paays Platform.

5.4 .  By submitting an application for Paays Services, you authorize Paays and its service providers to:

(a)        Conduct, or arrange for a credit agency to conduct, credit checks from time to time using the personal data you have provided and exchange information with credit reporting agencies;

(b)        Conduct, or arrange for another agency to conduct, identity and payment verification checks from time to time;

(c)        Assess your application for the Paays Services based on the results of the credit, identity, and payment checks; 

(d)       Issue a decision to grant or deny your application for Lender financing; and 

(e)       Provide the results of the decision to the Merchant along with your name and contact information.

5.5     The decision to approve an application for Paays Services and provide a credit limit is final and at the sole and discretion of Paays and the applicable Lender.

5.6     If your financing request is approved by a Lender, financing will be available to you through a pre-payable, fixed rate instalment loan with a term to be specified in the terms and conditions of your loan agreement with that Lender (in each case, a “Loan”) which will be delivered before or at the time of entering into such an agreement.  The Loan to you will be issued by the Lender, and will be governed by a Loan agreement that you must agree to and enter into directly with the applicable Lender.  You agree to be bound by the Loan agreement as of the time a transaction with a Merchant is authorized by Paays on your behalf.  Any interest on the amount you borrow to finance your purchase will start accruing only once the Loan has been issued.  Your Loan may not be issued, or may be cancelled for any reason, including if the applicable Lender elects not to issue the loan, or you violate this Agreement.  Subject to the terms of your Loan Agreement, the Loan may be assigned to other lenders.  


6.1 You agree to:

(a)      Only use the Paays Services for your own personal purposes, without any third-party beneficiary;

(b)      Treat your user name and password, and any other piece of information used as part of Paays security procedures, as confidential, and not to disclose such information to any third parties;

(c)      Promptly notify Paays (at info@paays.com) if you know or suspect that anyone other than you knows the information in clause 4(b) or has gained unauthorized access to your Account;

(d)     Provide accurate and up-to-date Personal Information and other information requested at all times when using the Paays Platform and/or the Website;

(e)      Promptly notify Paays of any changes to information in your Account;

(f)      Comply with all terms and conditions relating to the sale of the Product with the Merchant; and 

(g)     Comply with all terms and conditions relating to the financing of your Product by Paays or its affiliates and assigns, including making all payments when due.


7.1     By accepting the final terms of the Paays Services at any Merchant website, and by entering into a Loan agreement, you are agreeing to repay the Loan to the Lender based on the terms and conditions of your Loan agreement, unless the Loan is not issued.  Once the Loan has been issued, you are responsible for making all payments pursuant to your Loan agreement.

7.2    Refunds and cancellations of the Product are subject to the return and refund policies of the Merchant in each case.  You must contact the applicable Merchant directly to request refunds.  Paays will process a refund to you if directed to do so by the Merchant. 

7.3    If a refund or cancellation is processed between you and the Merchant after the Loan has been issued, the Merchant will notify us and the amount of your Loan will be adjusted accordingly.  We may rely solely on the Merchant for the amount of the refund or cancellation to adjust your Loan amount. Any disputes as to the adjusted amount of the Loan are to be resolved between you and the Merchant unless the adjusted amount of the loan is the result of an error.

7.4    If a refund or cancellation is for the entirety of the borrowed amount, you may still owe finance charges depending on when the Merchant notifies us of the refund or cancellation.


8.1    You agree to receive electronically all disclosures, communications, notices, and other information that Paays may send to you or be required to send to you under applicable law or otherwise (the “Paays Electronic Signature Consent”) pursuant to the terms and conditions set forth below (the “Paays Electronic Signature Policy”).

8.2    Your Paays Electronic Signature Consent applies to any transactions undertaken by you with us, or any of our affiliates, assigns, agents or representatives, including use of the Paays Services, any communication from us or our representatives or agents to you, including all disclosures, communication, notices, and other information required to be given to you under applicable law, any other information required by law to be provided either before or after your Loan is issued, your Loan agreement, billing statements, adverse action notices, any updates to your Account, in each case, pertaining to any transaction with us or any use of the Paays Services, whether now or in the future (the “Disclosures”).  Your consent will remain in effect from the time you initially apply for the Paays Services or access the Website until such time as your Account with Paays is terminated and, once terminated, will continue until such a time as all Disclosures relevant to your Account have been provided.

8.3    We may send any Disclosures to you via email to the email address that you have provided (or may provide later) to us or via text message to the mobile telephone number that you have provided (or may provide later) to us.  We may also post Disclosures on the Website or within your Account. You agree that Paays is not responsible for your failure to receive any Disclosures sent via text message or email that is not caused by our failure to send the Disclosure to the mobile number or email address that you would have provided to us.

8.4    Before you decide to do business electronically with us, you should consider whether you have the required hardware and software capabilities described:

  • A valid working email account

  • A mobile device capable of receiving text messages

  • Access to a computer, operating system and telecommunication connection to the Internet capable of receiving, accessing, displaying and either printing or displaying information electronically. Your Internet browser must be one of the current and previous major releases of Chrome, Firefox, Internet Explorer, and Safari

  • Sufficient electronic storage capacity on your computer’s hard drive or other data storage unit

  • Adobe Acrobat or equivalent software

8.5    While you have an active Account with Paays, you agree to keep us informed of any changes in your email address or mobile number so that you can continue to receive all Disclosures in a timely fashion.  If your registered email address, registered address, or mobile number changes, you must promptly notify us of the change by sending an email info@paays.com.

8.6    You agree and acknowledge that you can access, receive and retain all Disclosures electronically sent via email or to your mobile number, or posted on the Website or through your Account.

8.7    Your Paays Electronic Signature Consent means that any Disclosures shall have the same meaning as if provided in paper form. Any Disclosures or other communication sent to you via email or text message shall be deemed delivered once received on your device.  By pressing buttons or ticking boxes entitled “Apply”, “Accept and Checkout”, “Submit”, “Confirm”, “Verify”, “I Agree” or similar buttons and boxes indicating your authorization, you are providing your electronic signature with the same effect as if your signature had been provided on paper.  You waive any and all defenses you may have that the Paays Services, the Agreement, the Loan agreement, the Privacy Statement (as defined below) or any Disclosures were supplied to you in electronic form or that your signature or agreement to the Paays Services or to the Loan agreement was obtained electronically.


9.1    All Intellectual Property Rights relating to the Paays Platform, the Paays Services, the Website and any related services and/or materials provided by Paays to you or accessed by you under the Agreement are owned by Paays and shall remain the exclusive property of Paays unless otherwise assigned in writing by Paays.  All such rights are reserved.

9.2    You may print and/or materials and content from the Website, in reasonable limited copies, for your personal use only.  You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you are prohibited from using use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.  You agree not to take or permit any actions that could reasonably be deemed to infringe our (and that of any identified contributors’) intellectual property rights in the Website or Website content, nor do or permit any actions that would restrict or inhibit Paays’ ability to enforce our intellectual property rights in the Paays Website, the content published thereon, or the Paays Platform.


10.1    Please refer to Paays’ privacy statement (http://www.paays.com) (the “Privacy Statement”) for further information about how Paays collects, stores, uses, discloses and transfers your personal data. 


11.1    The content on the Website and other information which is displayed or provided to you when using the Paays Services is provided for general information only.  It is not intended as nor is to be construed as advice, including financial advice, on which you should rely.  You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our Website or other information displayed to you when using the Paays Services.

11.2    Although we make reasonable efforts to update the information on our Website and otherwise provided to you in relation to the Paays Services, we make no representations, warranties or guarantees, whether express or implied, that the content on our Website or in documents provided to you in relation to the Paays Services are accurate, complete or up-to-date.


12.1     To the maximum extent permitted by law, the Website, the Paays Platform, and the Paays Services are provided “as is” and “as available”.  While Paays endeavors to provide the best services it can, Paays hereby disclaims all warranties of any kind, whether express, implied or otherwise, including, without limitation, the warranties of fitness for a particular purpose and non-infringement.  Paays does not warrant that the Website, Paays Platform or the Paays Services will be complete, accurate, reliable, timely, secure, error free or that access thereto will be continuous or uninterrupted.  You understand that you are using the Website and the Paays Services at your own discretion and risk.

12.2    You acknowledge and agree that internet transmissions are never completely private or secure. You understand that any information you provide using the Paays Platform or the Website may be read or intercepted by others, even if there is a notice that a particular transmission is encrypted.

12.3    We do not warrant that the provision of the Website and the Paays Services complies with the laws of any country apart from Canada.

12.4    The provisions in this clause do not affect your statutory or mandatory rights which cannot be excluded by applicable law.


13.1  The Website may contain links to other independent third-party Website (“Third-Party Sites”) including Merchants.  Third-party Sites are not published by nor under the control of Paays, and Paays is not responsible for and does not endorse any Third-Party Site content or privacy policies (if any), which may also change from time to time.  You will need to make your own independent judgement regarding your interaction with any Third-party Sites, including the purchase and use of any products or services accessible through them.


14.1  You represent and warrant that your use of the Website and the Paays Services will be in strict accordance with the Agreement. In particular, you represent and warrant that:

 (a)     You will comply with the terms of this Agreement at all times;

 (b)     You will provide Paays, the Lender, the Merchant with accurate and up-to-date information;

 (c)      You will not use the Website or the Paays Services in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with the Agreement, or act fraudulently or maliciously, for example, by hacking into or inserting malicious code, including viruses, or harmful data, into the Website, the Platform, or the Paays Services;

(d)        You will not infringe our intellectual property rights or those of any third party in relation to your use of the Paays Services;

(e)          You will not do any of the following in relation to your use of the Paays Platform or Paays Services:

                 (i)  Disclose the name, address, telephone number, e-mail address or any other personal data in respect of any individual without their consent,

                 (ii)  Mislead or deceive any person, or

                 (iii)  Impersonate any person, or misrepresent your identity or affiliation with any person;

(f)  You will not use the Website, Paays Platform or the Paays Services in a way that could damage, disable, overburden, impair or compromise our systems or security or interfere with other users;

(g)  You will not collect or harvest any information or data from any content or our systems or attempt to decipher any transmissions to or from the servers running the Paays Services; and

(h)   You will not permit, enable or facilitate a third party from doing any of the prohibited activities listed in this Agreement.


15.1    Nothing in this Agreement limits or excludes Paays’ liability for death or personal injury caused by its negligence, fraud or fraudulent misrepresentation or any other liability than cannot be excluded under law.

15.2    To the extent permitted by law, we expressly disclaim and exclude all conditions, warranties, representations or other terms which may apply to the Website or the Paays Services, whether express or implied.

15.3   Paays will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with: 

(a)     your use of, or inability to use, the Website; 

(b)    your use of, or reliance on, any content displayed on the Website; 

(c)     rejection of your application for the Paays Services; 

(d)     any breach by the Merchant, including any failure or fault in the Product purchased from the Merchant, including a failure to deliver or delay in delivery of the Product; nor 

(e)     any breach by Paays, including failure to make payment to the Merchant.

15.4    Paays shall not be liable, whether in contract, tort (including negligence), breach of statutory duty or otherwise, for indirect, consequential or special loss, loss of profit, loss sales or business opportunity, loss of agreements or contracts, loss of anticipated savings and loss of or damage to goodwill arising under or in connection with this Agreement.

15.5    In addition, Paays will not be liable for any loss or damage caused by:

(a)     A virus, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of the Website or to your downloading of any content on it, or any Website linked to it; and

(b)      Any failure or delay in providing the Website or the Paays Services to you due to matters beyond its reasonable control.

15.6    Paays’ total liability to you under or in connection with this Agreement, your use of the Website, the Paays Platform or Paays Services shall be limited to $100.


16.1    Paays may terminate this Agreement and suspend your use of or access to all or any part of the Website or the Paays Services immediately by contacting you at your email address on record if:

(a)    You commit a breach of the Agreement, as determined by us in our discretion, or we suspect that may be the case;

(b)    The Lender terminates its Loan agreement with you;

(c)    We consider termination necessary to protect the integrity or security of the systems used by us at any time;

(d)    Paays reasonably determines that you are unable to pay your debts or as having no reasonable prospect of so doing; or

(e)    You apply for bankruptcy or become subject of a bankruptcy petition or order.

16.2     On termination of the Agreement, all rights granted to you under the Agreement shall cease and you must immediately cease all activities authorized by the Agreement, including your use of the Paays Services.

16.3    Any provision of this Agreement that expressly or by implication is intended to come into or continue in force on or after termination of this Agreement shall remain in full force and effect.

16.4    Termination or expiry of this Agreement shall not affect any rights, remedies, obligations or liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach of the Agreement which existed at or before the date of termination or expiry.


17.1     With the exception of the terms set out in a separate Loan agreement between you and the applicable Lender in each case, this Agreement constitutes the entire agreement between the you and Paays regarding the Paays Services and your use of the Paays Platform, and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.

17.2    Nothing in this Agreement affects the liabilities, rights and obligations of you and the Merchant under the applicable terms between you and the Merchant.


18.1    If Paays fails to insist that you perform any of your obligations under this Agreement, or if Paays does not enforce its rights against you, or if Paays delay in doing so, that will not mean that Paays has waived its rights against you and will not mean that you do not have to comply with those obligations. If Paays does waive a default by you, it will only do so in writing, and that will not mean that Paays will automatically waive any later default by you.


19.1    You may not assign, transfer or deal in any other manner with any or all of your rights under this Agreement without the prior written consent of Paays.

19.2    Paays may at any time assign, transfer or deal in any other manner with any or all of its rights under this Agreement, provided that such dealing will not materially affect your rights under this Agreement or the obligations owed to you under this Agreement.


20.1    Each of the provisions of this Agreement operate separately.  If any court or relevant authority decides that any of them are unlawful, the remaining provisions will remain in full force and effect.


21.1    We reserve the right to change the terms and conditions of service set out in this Agreement at any time for any reason.  Paays will notify you of any changes made to the Agreement in the future by email to the email address then listed in your Account.  Please remember to keep your Account information up to date.


22.1    This Agreement is between you and Paays. No other person shall have any rights to enforce any of its terms.


23.1    This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of the Province of Ontario and you agree that the courts of the Province of Ontario shall have exclusive jurisdiction over such disputes or claims.