Legal Notice


PaidBy Initiated Payment“: as defined in clause 2.2;


By proceeding to use the Paidby Bank® Service you acknowledge that We, including ISX Financial UK Ltd (ISXUK) or ISX Financial EU Plc (ISXEU), and our other affiliated group entities, will collect, process and store Your personal data and may share such data with other EEA or UK regulated entities.

Paidby Bank® means, dependent upon jurisdiction, any of ISXUK or ISXEU either which may provide under their respective licenses or agencies provide a Paidby Bank® Service to you, the Customer, including a payment service, an electronic money service, a stored value service, identity verification and screening,  and/or card processing and/or card acquiring services (together the “ISX Services”)

You grant Your consent that we collect personal and payment related data, check such data with various third parties including the issuer of such data or their authorised representatives, in order to meet our obligations as an FCA Authorised Electronic Money Institution in the case of ISX UK, and an EEA Authorised Electronic Money Institution in the case of ISX EU, provided that we do so to either,

  1. identify you under the Money Laundering Regulations (UK) (“MLRs”) and/or the EU’s 6th Anti Money Laundering Directive(Directive (EU) 2018/843) (“5AMLD”)on behalf of Paidby Bank®.
  2. to process payments between under the Payment Services Regulations (UK) (“PSRs”) or the Payment Services Directive(Directive (EU) 2015/2366) (“PSD2”) between You and either Paidby Bank® or at least one of our Merchants, whereby YOU have granted explicit consent for us to do so under the PSR’s and/or PSD2 by providing to Us Your payment and personal data, together with confirmation of the amount to be processed, and any necessary authentication requirements, in order to initiate identification and/or payment.

You understand that Your personal data related to our performance or compliance with either the MLRs/6AMLD or PSRs/PSD2 will be retained by Us as a data controller for a minimum of five (5) years as required by law, and that such data may not be subject to a ‘right to be forgotten’.

We may use the data provided by You to Us to in the future to either i) the ISX Services or ii) offer You additional payment related services.



Registration and ongoing use of the Paidby Bank® Service. This is an agreement between You and Paidby Bank® for provision of the ISX Services, in order to provide Paidby Bank® or its contracted Merchant third parties with assurance of Your identity or to authenticate or process payment transactions. Paidby Bank® provides the Paidby Bank® Service to Yourself and in conjunction with various third parties that include online merchants, payment gateways, payment processors, payment service providers, financial institutions, gaming, gambling, securities dealers and entities regulated by financial or anti money laundering regulations, which jointly or severally comprise the “third party services”. The “Paidby Bank® Service” is the service provided to You as the customer.



When you proceed with a Paidby Bank® initiated ISX Service, you agree to these Terms, to accept our “cookies” and acknowledge our Privacy Notice (collectively the “Terms”).

If you do not agree to all of these Terms, close the browser window immediately and do not proceed. If you do not accept these Terms, you will not be entitled to use the ISX Services and must not proceed. Paidby Bank® reserves the right at our discretion to make changes to these Terms. Upon any change, we will post the updated Terms on our website.

You agree to accept electronic communications, links to and/or postings of any revised Terms and that such electronic communications, links and/or postings constitute notice to you of any new or different Terms. Your continued use of any Paidby Bank® services constitutes acceptance of the changes and an agreement to be bound by these Terms, as amended. If you do not agree to the changes, you are not entitled to continue to make use of the Paidby Bank® services.

When using or accessing services offered through third party service providers, you will be subject to terms posted by the service providers. Use of third party services, or acceptance of their terms of service, as the case may be, signifies your agreement to their terms and conditions of service.

In order to register or use Paidby Bank® services, you must be at least 18 years old and legally capable to enter into contracts, and be the holder of a payment instrument that includes a valid credit or debit card, or operate bank accounts with open banking access.

You may only use the Paidby Bank® services for your personal, individual use. You may not use the Paidby Bank® services for commercial purposes and may not resell or otherwise provide other persons with access to the Paidby Bank® services using your password or user name.

The terms “you” and “user” and “End User” refer to the person that registers for the Paidby Bank® services or has their identity verified, payment processed, or payment authenticated via a Paidby Bank® service on behalf of one of our Merchants and/or Paidby Bank®



“Payment Instrument” includes any credit/debit card, virtual card, bank account, direct debit, eWallet, eMoney or eMandate. We reserve the right to introduce additional payment instruments without notice or amendment of these terms.

Paidby Bank® includes ISX Financial UK Ltd (Company Number 10002662) for UK Residents and ISX Financial EU Plc (Company Number HE 348009) for European Economic Area (EEA) residents.

“ISX Financial EU Plc means ISX Financial EU Plc (Cypriot HE 348009), of Makrasykas 1, KBC North Building, 2034, Strovolos, Nicosia, Republic of Cyprus, which is a Authorised electronic money instiution # authorised by the Central Bank of Cyprus with freedom to operate within the European Economic Area.

“ISX Financial UK Ltd” means ISX Financial UK Ltd, of Fieldfisher Riverbank House, 2 Swan Lane, London, United Kingdom, EC4R 3TT, a UK Authorised electronic money institution with UK Financial Conduct Authority FRN 901034

“Merchant” includes any entity, including an ecommerce service, or regulated payment service provider, trading, gaming, financial, banking, or other service, that refers You, the End User, to the Paidby Bank® service for any of identity verification, payment processing, payment authentication or any other payment service, including antimony laundering, antifraud and counter funding of terrorism transaction monitoring.

“Paydentity Profile” means the identity and payment profile that we create and store based upon your personal data and payment data provided during any identity verification or payment process.



We charge our fees to Merchants, payment service providers, payment processors, AML obligated firms, and Financial Institutions. Except where you are being identified as part of a Merchant on-boarding process as either a person of significant control (PSC) or an ultimate beneficial owner (UBO), the Paidby Bank® identity and payment processing services are mainly free of charge to payment account holders, excluding outbound external transfers, and you will be told prior to provision of any services, if you are being asked to make a payment to use the Paidby Bank® services.

Where we provide IBAN account or card issuance services, fees for such services will be advised to you before acceptance and delivery of the service.

Any other fees associated with your financial institution accounts will continue to apply. You are responsible for any and all telephone access fees and/or Internet service fees that may be assessed by your telephone and/or Internet service provider.



 Paidby Bank® is unable to foresee or anticipate every technical or other difficulty with the Paidby Bank® services. The third party services or Paidby Bank® services may contain errors, bugs, or other problems from time to time. These difficulties may result in loss of data, personalization settings or other service interruptions. For this reason, you agree that, except as explicitly stated otherwise in these Terms, the Paidby Bank® services are provided “AS-IS”, without warranties of any kind. Paidby Bank® cannot assume responsibility for any failure to authenticate, timeliness, deletion, mis-delivery, or failure to store any user data, communications, or personalization settings.



Paidby Bank® reserves the right to change or discontinue, temporarily or permanently, the Paidby Bank® services at any time without notice. You agree that Paidby Bank® will not be liable to you or any third party for any modification or discontinuance of the Paidby Bank® services.

Paidby Bank® reserves the right to alter features, licensing terms, or other characteristics of any version of services that it releases.




For the benefit and security of our users, and to comply with applicable laws, we have a few mandatory guidelines that we call ” Usage Rules”. Any conduct that violates the Use Rules is grounds for refusal to provide the Paidby Bank® services and for termination of your Paidby Bank® services account.

  • No Anonymous Networks. We will not allow you to use our service if you use technology that hides or makes your network or devices anonymous in any way. We are here to create a safe online environment for consumers and merchants, and must have some minimum information to create a trusted environment.
  • Provide Accurate Information. You agree to provide true, accurate, current, and complete information about yourself and your accounts maintained at web sites that provide third party services, information as requested in Paidby Bank®’ registration form (or at our partner sites) and account setup process, and you agree to not misrepresent your identity or your account registration information. You agree to keep your registration and payment instrument information up to date and accurate. Failure to provide accurate and complete information during registration may prohibit the use of the Paidby Bank® services or result in payment not being successful, or third party services not being available. You also certify that any payment instrument you use with the Paidby Bank® services is issued in your name and is a payment instrument that you are authorized to use.
  • Protect Your Bank Access. You are responsible for maintaining the confidentiality of your Bank Access Codes, and ensuring that your mobile phone is not accessible by others. You are fully responsible for all activities that occur using your Bank Access Codes and any one-time password sent to your mobile phone or authentication device. Please notify the issuer of your payment account immediately of any unauthorized use of your payment account or any other breach of security. We will not be liable for any loss that you may incur as a result of someone else using your Bank Access Codes and/or passwords sent to your mobile phone or authentication device, or unauthorised use of your payment account, either with or without your knowledge, under such circumstances. You may not use anyone else’s password at any time. This also applies to any passwords required for use of other services provided by Paidby Bank® partners.
  • Customer Service Requests. If you request end user customer service assistance or report a problem with the Paidby Bank® Service, it may be necessary for ISXUK or ISXEU or our Merchant Customer’s service operators to access your account and view your account information with us. AT NO TIME WILL WE SEEK ACCESS TO YOUR BANK ACCOUNT.
  • Respect the Law. You agree not to use the Paidby Bank® services Service for illegal purposes or for the transmission of material that is unlawful, harassing, libellous (untrue and damaging to others) invasive of another’s privacy, abusive, threatening, or obscene, or that infringes the rights of others. Please also note that we may need to disclose your details to your financial institution, regulators, law enforcement agencies, or under judicial or court order.
  • Proprietary Rights. You acknowledge and agree that Paidby Bank® and/or its licensors or suppliers own all rights to this website and the Paidby Bank® services, the content displayed on the site and any intellectual or proprietary property and/or technology (in any form) made available to you as a part of or in conjunction with the Paidby Bank® services. You are only permitted to use any of the foregoing as expressly authorized by these Terms and otherwise by the Paidby Bank® services. You may not copy, reproduce, distribute, or create derivative works from any content. Further, you agree not to reverse engineer or reverse compile any technology associated with the Paidby Bank® services, including but not limited to, any software applications or Java applets associated with the Paidby Bank® services.
  • At least 18 years of age. With regards to the Paidby Bank® evidence of identity service, the service is not intended for use by persons under the age of 18. If you are under 18, you may not use the Paidby Bank® services or download a mobile version of it, and you may not provide us with any of your personal details. Paidby Bank® will not knowingly collect any personal information from persons under the age of 18.



Content You Provide. Subject to Paidby Bank® Privacy Notice, you are licensing to Paidby Bank® any information, data, passwords, materials, or other content you provide to Paidby Bank® and the third party services, or that is retrieved from third party sites at your request (collectively, “Content”). You consent to allowing account, including card, bank or wallet accounts, and /or document details, including government issued documents, that you provide to us to be verified with the respective issuer. With the exception of account data, identification documents, personally identifiable information or payment specific data, Paidby Bank® may use, modify, display, distribute and create new material using de-personalised Content to provide the Paidby Bank® Service to you. The use of Content is fundamental to the provision of the Paidby Bank® services. By submitting Content, you automatically agree, or promise that the owner of such Content has expressly agreed that, without any particular time limit, and without the payment of any fees, Paidby Bank® may use the Content for the purposes set out above. In addition, Paidby Bank® welcomes your feedback as a user of this service. Any feedback you provide will become the confidential and proprietary information of Paidby Bank®, and you agree that Paidby Bank® may use in any manner and without limitation all comments, suggestions, complaints, and other feedback you provide relating to Paidby Bank®. Paidby Bank® shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use Content and feedback for any purpose, including but not limited to, incorporation of such feedback into Paidby Bank® social media or other Paidby Bank® software or services. You explicitly agree that any Content provided may be used to process payments for your benefit or to identify you in order to subscribe or enrol you to financial services provided by either our Merchants or an Paidby Bank® group company.


End User Customer Service Efforts. If you request end user customer service or other assistance from either one of our Merchants or Paidby Bank® you acknowledge and agree that Paidby Bank® personnel, located in either the EEA or UK, are authorized to access and view your account and information to provide such assistance and support.



The purpose of the Paidby Bank® Paydentity™ services is to process payments and/or to build an identity profile of you based on information provided by you, or obtained through third party providers. Your unique Paidby Bank® Paydentity™ profile will be retained and used by Paidby Bank® and our Merchant Customers (being the merchant supplying you a service or identity service) for purposes including payment processing, legally mandated identity verification, anti money laundering, counter terrorism funding, detection, prevention & response to fraud, and security control.

The payment and identity verification services are provided by Paidby Bank® solely as a service, and any decision made relating to acceptance of your payment and/or verification of your identity is that of our Merchant Customers or ISXUK or ISXEU. In agreeing to any identity verification you are agreeing to be pre-verified by ISXUK or ISXEU for the issuance of e-money, and for ISXEU or ISXUK to allow your Paydentity profile to be shared with our Merchants, law enforcement agencies, regulators , card schemes, and upstream payment service providers and for your Paydentity profile to be relied upon by other Anti-Money Laundering obliged entities.

By agreeing to this pre-verification you are ensuring that your identity profile is held by ISXEU for European Economic Area (EEA) End Users, or ISXUK fro United Kingdom domiciled End Users, as the respective EEA and UK operating companies obligated under Anti-Money Laundering laws.

By agreeing to have your identity verified you are not committing to the provision of any services, except those which you have expressly asked our Merchant Customer or ISXEU or ISXUK to provide to you.

In addition to these Terms, the use of your identity profile or parts of it may also be subject to agreements you have directly with third parties. The third parties include our Merchant Customers who sell or provide you with goods or services. Paidby Bank® is not a party to any agreement you may have with any Merchant Customer of Paidby Bank®. If you have a dispute with one or more Merchant Customers of Paidby Bank®, you forever release us, our affiliates, subsidiaries, licensors, suppliers and service providers, employees, directors and agents from any and all claims, demands and damages of every kind and nature arising out of or in any way connected with such disputes.

For the purpose of the UK’s Privacy Law or European Union’s Data Protection Regulation 2016/679/EC either ISXUK or ISXEU are the data controller and a data processor (dependent on jurisdiction). ISXEU is registered with the Cyprus data protection agency, and ISXUK is registered separately with the UK’s ICO. All data related to UK and EU citizens is stored within the EU.



You expressly understand and agree that: your use of the paidby bank® service and all information, products, services and other content (including that of the processors, financial institutions, and third parties) included in or accessible from the paidby bank® service is at your sole risk. The paidby bank® service is provided on an “as is” and “as available” basis. Paidby bank® and its licensors expressly disclaim all warranties of any kind as to the paidby bank® service and all information, products, services and other content (including that of third parties) included in or accessible from the paidby bank® service, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and noninfringement. Without limiting the generality of the foregoing, paidby bank® is not responsible for the accuracy or reliability of any data from any third party or for any interruptions in the availability of any service, whether the result of actions by paidby bank® or any third party.

The official language of the paidby bank® service is english; therefore, limited provision of parts of the paidby bank® service may be translated for your convenience only. Paidby bank® specifically disclaims all warranties of any kind regarding the content of the any translation pages. Paidby bank® and its licensors make no warranty that (i) the paidby bank® service will meet your requirements, (ii) the paidby bank® service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the paidby bank® service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the paidby bank® service will meet your expectations, and (v) any errors in the technology will be corrected.

Any material uploaded, downloaded or otherwise obtained through the use of the paidby bank® service is done at your own discretion and risk and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material.

No advice or information, whether oral or written, obtained by you from paidby bank® or through or from paidby bank® will create any warranty not expressly stated in these terms.

Some jurisdictions do not allow the exclusion of certain warranties. Accordingly, some of the above limitations may not apply to you. To the extent that any part of this section is not consistent with any other part of these terms, then this section will control.



You agree that neither paidby bank® nor any of its affiliates, subsidiaries, licensors, suppliers, third party developers, account providers or any of their affiliates will be liable for any harms, which lawyers and courts often call direct, indirect, incidental, special, consequential or exemplary damages, including, but not limited to, damages for loss of profits, opportunity, goodwill, use, data or other intangible losses, even if paidby bank® has been advised of the possibility of such damages, resulting from:

  • The use or the inability to use the paidby bank® service;
  • The cost of getting substitute goods and services resulting from any products, data, information or services purchased or obtained or messages received or transactions entered into, through or from paidby bank®
  • Unauthorized access to or alteration of your transmissions or data;
  • • statements or conduct of anyone on the paidby bank® service;
  • The use, inability to use, unauthorized use, performance or non-performance of any third party account provider site, even if the provider has been advised previously of the possibility of such damages; or
  • Any other matter relating to the paidby bank® service.

Some jurisdictions do not allow the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations may not apply to you. In such a case, our maximum liability is limited to usd$10,000.



 You agree to protect and fully compensate Paidby Bank® and its affiliates, subsidiaries, licensors, suppliers and service providers from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable attorneys’ fees) caused by or arising from your use of the Paidby Bank® Service, your violation of the Terms or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.



These Terms and any notices or other communications regarding the Paidby Bank® Service may be provided to you electronically, and you agree to receive communications from Paidby Bank® in electronic form, which may take the form of e-mail, text messages, or other mobile & electronic communications, and that standard messaging or data rates may apply. Electronic communications may be posted on the Paidby Bank® Service web site and/or delivered to your registered e-mail address. All communications in electronic format will be considered to be in “writing”, and to have been received no later than five (5) business days after posting or dissemination, whether or not you have received or retrieved the communication. Your consent to receive communications electronically is valid until you revoke your consent by notifying Paidby Bank® of your decision to do so. If you revoke your consent to receive communications electronically, Paidby Bank® will treat this as your repudiation of these terms and you may not subsequently use the Paidby Bank® Service. It is your responsibility to provide Paidby Bank® with true, accurate and complete e-mail addresses, contact and other information related to this disclosure and to maintain and update promptly any changes in this information. Paidby Bank® shall treat your provision of an invalid e-mail address or any subsequent problems of delivery to a previously valid e-mail address as a withdrawal of your consent to receive electronic communications. You may print a copy of any electronic communications and retain it for your records. Paidby Bank® reserves the right to terminate or change the terms and conditions on which we provide electronic communications and will provide you notice thereof in accordance with applicable law.



We reserve the right at our discretion to make changes to these Terms. Upon any change, Paidby Bank® will notify you by electronic mail, or by a link to or posting of the new or different Terms. You agree to accept electronic communications, links to and/or postings of any revised Terms and that such electronic communications, links and/or postings constitute notice to you of any new or different Terms. If you continue to use the Paidby Bank® Service thereafter, your continued use of the Paidby Bank® Service constitutes acceptance of the changes and an agreement to be bound by these Terms, as amended. If you do not agree to the changes, you agree to discontinue your use of the Paidby Bank® Service.



 You may not assign these Terms to any other party. ISXUK or ISXEU may assign these Terms to any future, directly or indirectly, affiliated company. ISXUK and/or ISXEU may also assign or delegate certain of its rights and responsibilities under these Terms to independent contractors or other third parties.



Paidby Bank® shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by either ISXUK or ISXEU. No delay or omission on the part of Paidby Bank® in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.



 You agree that these Terms are the complete and exclusive statement of the agreement between you and Paidby Bank® with respect to the Paidby Bank® Service, and these Terms supersede any proposal or prior agreement, oral or written, and any other communications between you and Paidby Bank® relating to the subject matter of these Terms. These Terms, as may be amended from time to time, will prevail over any subsequent oral communications between you and Paidby Bank®.

If any part of these Terms is in any way unenforceable, invalid or illegal, it is to be read down so as to be enforceable, valid and legal. If this is not possible, the offending part is to be severed from these Terms without affecting the enforceability, validity or legality of the remaining which will continue in full force and effect.



The Paidby Bank® services may be available through a compatible mobile device, including tablets and smart phones. Your use of the Paidby Bank® services may be become subject to charges by your wireless carrier. Paidby Bank® assumes no responsibility for the payment of any messaging, data or content charges by your wireless carrier or any other party. You agree that you are solely responsible for these charges as well as any software requirements or updates required to access or use the Paidby Bank® services.




Granted Patents include US Patents 8,620,810, 6032863, 7588181, 8131617, 7765153, 8805738, Australian Patents AU2010100533, AU2011235612, Portuguese Patent PT2011120098, Swedish Patent SE1251231-5 and others.

Granted/Pending Patents include Australia, 2010100533, Australia, 2011235612, US 8,620,810, Europe, 11761840.5, Canada, 2,791,752, India, 2363/KOLNP/2012, New Zealand, 601718, Singapore, 183509, South Africa, 2012/06455, Brazil, 112012024646-1, People’s Republic of China, 201180014816.4, Republic of Korea, 10-2012-7027228, Malaysia, PI 2012004099, Hong Kong, 13109165.5, Australia, 2012261779, Portugal, 2011120098, Sweden, 1251231-5, South Africa, 2014/00709, PCT/AU2016/050401, United States of America, 15/010,909, Republic of Korea, 10-2016-7014689, Australia, 2016238964, Australia, 2016904748, Australia, 2017901038, Australia, 2015367299, Canada, WO 2016/094954, New Zealand, 732841, South Africa, 2017/04339, US, 15/536219, US, 6032863, US, 7588181, US, 8131617, US, 7765153, US, 8805738, Australia, WO 2016/101027, Canada, WO 2016/101027, New Zealand, 733118, South Africa, WO 2016/101027, US, 15/538958



“PaidBy”, “Paidby Bank®”, “Paydentity”, “ISXPay” and “MerchantProtect” are trademarks of ISX IP Ltd, ISXUK or ISXEU in various jurisdictions including the USA, Canada, the European Union, UK and Australia.



If You are domiciled in the UK, then the laws and competent courts of England and Wales govern the interpretation and performance of these Terms.

If You are domiciled in the EEA or elsewhere, then the laws and competent courts of Cyprus govern the interpretation and performance of these Terms.


PaidBy Initiated Payment“: as defined in clause 2.2;


 Our privacy office is responsible for ensuring that our day-to-day procedures comply with this Privacy Policy. If you want to exercise your right to access your information or have any questions about this privacy statement, Paidby Bank® information practices, or your dealings with Paidby Bank®, you can contact us by emailing us at