1.1. User

‍It is anyone who, because they have a relationship with a Merchant, uses the Services offered by Palomma. Users who state that they have full legal capacity to enter into contracts and to be subject to rights and obligations may use the services offered by Palomma.

1.2. Principal or Merchant

It is the natural or legal person who entered into a Mandate contract with Palomma for the latter to carry out activities of collection, dispersion of payments, automatic debits and collection of invoices by Whatsapp at his own risk. The Merchant is also the natural or legal person with whom the User has a legal relationship, either through the acquisition of goods and/or services from these or something similar that involves the transfer of money.

1.3. Palomma

It is a technology company that offers Retailers (hereinafter the”Shops”) secure payment services, through the following services (which are detailed in Section III):

I. Collecting Money from Users for Businesses;

II. Dispersion of Payments from Merchants to Other Merchants;

III. Automatic User Debit for Merchants;

IV. Invoice Collections and Payments via Whatsapp, which were issued by Merchants to their Users.

1.4. Mandate Contract

This is the legal agreement that exists between the Companies and Palomma and that allows the latter to provide his services as Representative, that is, to act on behalf of and on behalf of the Merchants and to collect and disperse payments in accordance with the instructions given by them.

‍Palomma only acts as a proxy in the transaction process, facilitating money transfers, through an operating secure payment platform. Therefore, Merchants make available to their Users the possibility of making payments through Palomma, while making their payments to other Merchants through Palomma.

‍Palomma does not carry out or provide any type of financial activity and/or financial service, nor does it raise funds or receive bank deposits from the public. Palomma receives payments from Users to Merchants and mediates the transfer of resources from Merchants to other Users, in accordance with the specific instructions given by Merchants to Palomma, within the framework of the mandate contract that the latter two have concluded.

3.1. Collection Service

‍consists of the service of an API for secure online payments (hereinafter the”Payments API”), which allows Users to purchase and purchase goods and services from Merchants through an electronic payment system, where they can use credit and debit cards, savings, checking or savings accounts with simplified procedures and bank correspondents (hereinafter”Means of Payment” or”Means of Payment”). Under this service, Palomma will collect, as a mandate and at the risk of Commerce, the resources derived from these online payments.

Use of the Collection Service for Users

‍The User that you purchase goods or services from the Merchants that use this Palomma service, will use the Payments API in any of the following ways:

I. Redirected from the Commerce platform to the Palomma platform

‍To use the collection service, the User must follow the following step by step:

i. Access the Merchant and, at the time of payment, choose the payment methods offered by the Merchant and thus, you will be redirected to the Palomma platform;

ii. For the first payment through Palomma, you must follow the registration indicated in Section IV;

iii. You will then be redirected to the payment methods, where you must choose the one you prefer;

iv. You will receive an OTP to your cell phone and, once you have entered the verification code, you can select “pay”;

v. The transfer will be reflected as received by Palomma.

II. Through the Commerce platform

‍Under this modality, the User must select the payment method offered by the Merchant and fill out the information requested by the Merchant, within its website, which will be a platform”powered by Palomma”. You will then be directed directly to your payment method to carry out the transaction through Palomma. Although the User will not be directed to the Palomma platform, the transfer will be reflected as being sent to Palomma.

3.2. Bill collection and payment service via Whatsapp

‍This functionality allows Merchants to enable an instant messaging channel through Whatsapp that provides Users with the possibility to pay their obligations to Merchants without leaving the Whatsapp channel. This service is independent, but its operation is carried out on the technological structure of the collection service indicated in paragraph 3.1 of this clause. Palomma acts only as an intermediary for transactions and collection procedures, so it will not have any relationship with electronic sales invoices issued by the Merchant.

Use of the bill collection and payment service via Whatsapp

‍To use the bill collection and payment service via Whatsapp, the User must follow the following step by step:

i. The User will receive a message via Whatsapp from the “Palomma” Account or from the Merchant asking if they want to make the payment of a certain invoice;

ii. Once the User agrees to make the payment, they must select one of the payment methods previously shared with Palomma or, if this is the first time, they must add a payment method.

iii. Confirm the payment.

iv. The transfer will be reflected as received by Palomma.

3.3. Other Services

3.3.1. Dispersion Service

Through this service, Palomma allows Merchants to disperse funds to Users, through Palomma as Representative. For this reason, if Users show a payment in their accounts from Palomma, this will correspond to a dispersion made by Palomma in providing this service to a Merchant with which the User is related and has generated a payment order.

3.3.2. Automatic debit service

Through this service, Palomma provides Merchants with the possibility for Users to register an automatic debit, facilitating their recurring payments. The User who registers an automatic debit is obliged to keep sufficient funds in the registered accounts to cover the amount to be debited.

Consequently, if Users find a debit from their account by Palomma, it is because a Merchant instructed Palomma to debit a certain amount from a User's account. As Palomma performs this operation as a Representative, in case of canceling the debit, the User must do so directly with the Merchant at least 3 business days before the date of the next automatic debit in order for the User to request that Palomma cancel the User's account.

3.4. From the Web Site

The Palomma Website is merely instrumental, through which Users and Businesses will be informed of the operation of the Services, of the benefits of using such Services, of the Registered Merchants and will also allow Users to register and manage their account. In addition, through Palomma, the information of Users and Businesses will be stored and managed.

SECTION IV - USER REGISTRATION

registry

to use the collection service and the WhatsApp bill collection and payment service offered by Palomma, Users may register on the Website and/or other channels provided by Palomma, completing the following steps:

i. The User must enter their phone number to register and confirm that this is their phone number, entering the code sent via text message.

ii. Enter the data required by Palomma: name, surname, email and ID; providing true, accurate and accurate information.

iii. The User agrees to be solely responsible for the updating, certainty, accuracy and veracity of their data, and they also accept that Palomma may request and/or consult the veracity of the data provided by the User, in order to verify that the identity provided is real.

iv. Link the User's bank account or accounts to the Website, for which Palomma will redirect them to the registration portal of each bank.

v. In the process of linking Users' accounts, Palomma has no direct contact with the Users' bank accounts, nor with their credentials and, therefore, is not a participant in the payment process. Palomma only confirms the payment to the merchant, when the bank has confirmed it.

SECTION V - OBLIGATIONS

5.1. User Obligations

By accepting these Terms and Conditions, Users are obliged to: (1) Provide true and reliable information when registering on the Website or in the channels provided for the provision of the Services; (2) keep the personal information provided to Palomma up to date; (3) refrain from using the Services offered by Palomma to perform acts contrary to morality, law, public order and good customs against Palomma or third parties; (4) refrain from impersonating other Users; (5) register accounts that you own or that you have full capacity to dispose of and; (6) in general, all those behaviors necessary for the execution of the legal business.

5.2. Palomma's obligations

By virtue of these Terms and Conditions, Palomma undertakes to: (1) Provide true, reliable, sufficient, clear and up-to-date information regarding the products it exhibits; (2) make available to Users the Terms and Conditions of Use of the Website and Services, in an updated form; (3) use Users' personal information and data for the purposes established in these Terms and Conditions or in the Personal Data Processing Policy; (4) not to offer products or services that are prohibited by law or by Palomma's internal policies and; (5) have all relevant regulatory obligations, as well as the registrations, qualifications, permits and authorizations for the sale of the products offered, required by applicable regulations.

SECTION VI - FINAL CONSIDERATIONS

6.1. Exemption from liability

Palomma does not guarantee in any way the continuity and availability of the content or services offered through the Website, or through APIs in the Merchant channels or via Whatsapp. However, Palomma will carry out the actions that, in accordance with its possibilities, allow it to maintain the proper functioning of the Website and the Services provided outside it, without this implying any responsibility on the part of it.

In the same way, Palomma will not be responsible or guarantee that the content of the software that can be accessed through the Website, Merchant channels, through Whatsapp or through the services provided by payment gateways, aggregators and other partners, to access the Services, are free of errors, malicious software, that may cause any damage at the software or hardware level to the equipment through which the User accesses the Website or other Services, is subject to fraud, loss of data or other damages caused, Users therefore accept that they access them at their own risk and responsibility.

Palomma is not responsible for any damages that may be caused by an inappropriate use of the Website or the Services and in no case will Palomma be responsible for any loss, damage or harm of any kind that may arise as a result of access or misuse of the Website or the Services.

Palomma does not guarantee the timeliness or veracity of the information contained in websites, files, applications, and other content published in the Stores. The access and use of the Merchant sites, files, applications and similar sites accessed by the User will be subject to their terms and conditions, for which Palomma has no responsibility. Palomma also does not guarantee that the content of third-party websites, files or applications complies with Colombian legislation on data protection or that the content presented there is legal under Colombian regulations.

Palomma will not be responsible for the availability or possible failures that banking institutions may present, so such failures may occur without prior notice and, therefore, Palomma is exempt from any liability.

Palomma is not responsible for any loss or damage that may occur as a result of the User not following the following security recommendations: (i) Banking information is personal and should not be shared with any third party. It is essential to avoid giving personal information to strangers who communicate through emails, telephone calls, text messages or social networks; (ii) It is recommended to change the passwords periodically and avoid creating passwords with easy-to-deduce combinations, such as birthdays, identification numbers or telephone numbers; (iii) if the Account User interacts with their personal banking information on the Internet, they must connect to secure networks, such as those in their home or place of work; and (iv) It should be avoided connect to public and unprotected Wi-Fi networks, or to spaces that offer free internet access.

6.2. Bank Account Transaction Processing

Palomma provides its services through several providers to connect to its payment solution and process transactions from the accounts that the User registers. To process these transactions, the User declares and guarantees that: (i) he will provide accurate and complete information about himself; (ii) he authorizes the sharing of such information with Palomma's suppliers for the provision of services; and (iii) he authorizes the generation of inquiries and charges to the accounts he registers with Palomma through the providers in accordance with the obligations described in this agreement. By accepting this agreement, you accept the processing of your data in accordance with the vendors' Privacy Policy.

The payment providers and/or payment gateways used by Palomma are the following:

Direct connections

Wompi S.A.S.

PSE

Movii

Palomma will continue to add different payment gateways, credit and debit card processors and other third parties that add value to the chain, in order to guarantee the transactions made between the parties involved.

Palomma may administer or manage the Website and its APIs, directly or through a third party, as well as modify the presentation, content, functionality, information, services and configuration of the Website and its APIs, which does not modify in any way what is established in these Terms and Conditions.

6.3. E-commerce

By virtue of the conditions of legal capacity established in the Colombian Civil Code and the validity of the expression of will through electronic means established in Law 527 of 1999, Users, at the time of using any of the Services, expressly declare that they are able to enter into the type of transactions that will be carried out through the Payment Button or the other means provided by Palomma to provide the Services.

6.4. Taxes

Palomma will not be responsible for calculating the withholding that the Merchant must make to Users, nor will it be responsible for any tax applicable to such payments.

6.5. Applicable Legislation

These Terms and Conditions will be governed for all their purposes by their content and by applicable Colombian law.

6.6. Full acceptance of the terms

The User and the Merchant expressly state that they have read, understand and accept all of the Terms and Conditions, and are therefore committed to full compliance with the duties, obligations and burdens stipulated here.

6.7. Validity

These Terms and Conditions are effective as of 26/06/2024 and until they are modified and the new version published on the Website and the App.