Terms of service

Onyx Bridge Pay is a trading name of Onyx Bridge Pay Inc., a company incorporated in Ontario, Canada with its registered office at 100 King Street West, Suite 5700, Toronto, Ontario M5X 1C7, Canada. We operate as an MSB / PSP operating in a neobank (EMI) model.

These terms, together with our fee schedule, product-specific annexes, the privacy policy and the AML policy, form a single legally binding agreement (the "Agreement") between you and us. Where a product annex conflicts with these terms, the annex prevails for that product only.

You accept the Agreement when you submit an application for an account, click to accept during onboarding, or use any service we make available to you. If you do not accept it, you must not use the services.

Account

A multi-currency payment account we open in your name, including any dedicated account details, sub-accounts and balances held within it.

Business day

Monday to Friday, excluding public holidays in Ontario, Canada and in the currency settlement jurisdiction concerned.

Client funds

Money you transfer to us, or that is received for you, which we hold and safeguard on your behalf and which does not belong to us.

Partner

A business that licenses our White Label platform to offer financial services under its own brand.

Payment instruction

Any request you give us to execute a payment transaction, including transfers, card payments, direct debits and currency conversions.

Stablecoin

A digital asset designed to maintain a stable value against a reference fiat currency, such as USDT or USDC, that we support for conversion purposes.

Strong customer authentication

An authentication procedure using at least two independent factors from the categories knowledge, possession and inherence.

To open and hold an account you must:

• be at least 18 years old and have full legal capacity to enter into a contract;
• be resident in, or in the case of a business incorporated in, a country we serve at the time of application;
• not be a person, or controlled by a person, subject to financial sanctions administered by Canada, the United Nations, the European Union, the United Kingdom or the United States;
• not have been previously offboarded by us for a breach of the Agreement or for financial-crime reasons; and
• provide accurate, complete and current information during onboarding and whenever we later request it.

We may decline any application at our discretion and are not obliged to give reasons where disclosure would prejudice a financial-crime investigation or breach a legal restriction on disclosure.

The services are not offered to persons in jurisdictions where doing so would breach local law or our licensing conditions. We publish and maintain the list of supported countries in the client dashboard and may amend it at any time.

Before we open an account and periodically thereafter, we are legally required to verify your identity and understand the nature of your activity. This process is described in our AML policy.

You agree to provide identification documents, proof of address, information on beneficial ownership and control, expected transaction volumes, source of funds and source of wealth, and any further evidence we reasonably request. For business clients, we will also verify directors, authorised signatories and beneficial owners holding 25% or more.

We may use third-party providers and automated tools, including document authentication, biometric liveness checks and database matching, to complete verification. Where an automated outcome affects you significantly you may request human review, as explained in our privacy policy.

Once approved, we open a multi-currency account in your name and may provide dedicated account details, including IBANs or local account numbers, in the currencies we support. Account details are issued for your use only and may not be shared with or used by third parties.

Balances are held as client funds and are safeguarded in segregated accounts at regulated credit institutions. We do not lend out your funds, do not use them for our own account, and do not pay interest on them unless expressly agreed in writing.

You may hold multiple currency balances and sub-accounts. We may set limits on balances, transaction sizes and velocity based on your risk profile, verification level and applicable regulation, and may adjust them with notice unless immediate change is required by law or to prevent loss.

You may instruct payments through the dashboard, mobile application or API. We will treat an instruction authenticated with your credentials and strong customer authentication as given by you.

Execution

We execute instructions received before the applicable cut-off time on the same business day. Instructions received after the cut-off, or on a non-business day, are treated as received on the next business day. Settlement timelines depend on the payment rail, the beneficiary institution and any intermediary bank, and we publish indicative timelines per corridor in the dashboard.

Incorrect details

You are responsible for the accuracy of beneficiary details. Payment systems normally route funds on the account identifier alone. If you supply incorrect details we will make reasonable efforts to recover the funds and may charge a recovery fee, but we cannot guarantee recovery.

Refusal, suspension and recall

We may refuse or delay a payment where we are required to do so by law, where the instruction is incomplete or unclear, where you have insufficient funds, where a limit would be exceeded, or where we reasonably suspect fraud, sanctions exposure or money laundering. Where permitted, we will tell you promptly and explain how to correct the issue.

Unauthorised or incorrectly executed payments must be reported to us without undue delay and in any event within 13 months of the debit date. Where you report in time and the transaction was not authorised by you, we will refund it unless we have reasonable grounds to suspect fraud or gross negligence on your part, in which case we may investigate first.

Currency conversion is executed at the rate quoted to you at the time of the instruction. The quoted rate includes our margin over the wholesale reference rate, and the applicable rate and total cost are shown before you confirm.

Where we support conversion between fiat currency and stablecoins, the conversion is a spot exchange service. We do not provide custody of digital assets for investment purposes, do not offer staking or yield, and do not provide investment, tax or legal advice.

On-chain transfers are screened against blockchain analytics and sanctions data. We may decline a transfer, or freeze incoming assets, where an address is associated with illicit activity, and we may be required to report and withhold such assets.

Where you are eligible, we may issue physical or virtual debit cards linked to your account, subject to the card scheme rules and any card-specific annex.

• Cards remain our property and may only be used by the named cardholder.
• You must keep the card, PIN and security credentials secure and must not disclose them to anyone.
• You must notify us immediately through the app or support channel if a card is lost, stolen or used without your authorisation so we can block it.
• Card transactions in a currency other than the balance currency are converted at the rate applied at the time of processing, and the applicable conversion cost is disclosed in the fee schedule.
• Disputes about a card purchase should first be raised with the merchant. Where that fails, you may ask us to pursue a scheme chargeback within the scheme time limits.

Business clients may access additional services including multi-user access with role-based permissions, bulk payments, an open API and, for eligible partners, our White Label platform.

White Label access is currently offered on a pre-launch, early-access basis under a separate partner agreement. Phased availability, functionality and any service levels are described in the partner agreement and may change during the rollout.

Partner obligations

• You must complete partner due diligence before launch and provide updated information on request.
• You must operate the mandatory compliance controls we specify, including onboarding, screening and monitoring rules, and must not circumvent, weaken or mask them.
• You must present your own brand accurately, must not describe yourself as a bank unless licensed as one, and must not misrepresent our regulatory status.
• You may not sublicense, resell or transfer platform access to a further party without our prior written consent.
• You must allow us to audit your use of the platform and your related controls on reasonable notice, and must cooperate with regulatory requests we receive.

API use

API credentials are confidential and must be stored securely and rotated on our instruction. We may apply rate limits, deprecate endpoints with reasonable notice, and suspend credentials immediately where we detect abuse or a security risk.

Our fees are set out in the fee schedule available in the dashboard and, for partners, in the partner agreement. Before you confirm a transaction we display the total cost, including any conversion margin.

You authorise us to deduct fees from your balance when they fall due. If your balance is insufficient, we may deduct from any other balance you hold with us, converting at our applicable rate where necessary.

We may change fees. We will give you at least two months notice of any change that is not to your advantage, unless the change is required by law or reflects a pass-through of third-party or scheme costs, in which case we will give as much notice as reasonably possible. If you do not accept a change you may close your account without charge before it takes effect.

You must not use the services, directly or indirectly, to:

• commit or facilitate fraud, money laundering, terrorist financing, sanctions evasion, tax evasion or bribery;
• transact with sanctioned persons, entities or territories, or on behalf of an undisclosed third party;
• operate an unlicensed money service, payment institution or virtual asset service, or provide payment services to your own customers other than through an agreed White Label arrangement;
• process payments for activity that is illegal in any relevant jurisdiction, including unlicensed gambling, narcotics, weapons, human trafficking, child sexual abuse material or darknet marketplaces;
• use anonymising services, mixers or tumblers to obscure the origin of funds;
• circumvent limits, verification requirements or compliance controls, including by opening multiple accounts or supplying false information;
• infringe intellectual property rights or breach applicable data protection law; or
• test, probe, reverse engineer or overload our systems other than under an authorised security testing arrangement.

We maintain a restricted activities list in the dashboard for sectors we can serve only under additional conditions. Breach of this section is a material breach of the Agreement.

We may suspend or restrict all or part of your access, freeze a balance, or block a card where we reasonably believe it is necessary to comply with law, to protect you, us or a third party from loss, to investigate suspected financial crime or fraud, or because you are in material breach of the Agreement.

Where we are permitted to do so, we will notify you of a suspension and the reason for it. In some cases the law prohibits us from telling you that a report has been made or that an investigation is under way.

You may close your account at any time by giving us notice through the dashboard, provided you have no outstanding obligations. We may terminate the Agreement on two months notice, or immediately where required by law, where you have materially breached the Agreement, where you have provided false information, or where continuing the relationship would expose us to unacceptable legal or financial-crime risk.

On termination we will return any remaining client funds to an account in your name, after deducting amounts you owe us, unless we are legally prevented from doing so. Our obligations to retain records survive termination.

We are liable to you for direct losses caused by our breach of the Agreement or our negligence, subject to the limits below. Nothing in the Agreement excludes or limits liability that cannot lawfully be excluded, including liability for fraud, fraudulent misrepresentation, death or personal injury caused by negligence, or any statutory consumer right.

We are not liable for indirect or consequential loss, loss of profit, loss of business, loss of goodwill or loss of anticipated savings. Except where the law provides otherwise, our aggregate liability in any twelve-month period is limited to the greater of the fees you paid us in that period or CAD 1,000.

We are not liable for failures caused by events outside our reasonable control, including failure of a payment scheme, correspondent bank, blockchain network or telecommunications provider, or for the acts of a third party you chose to deal with.

You are liable for losses arising from your fraud, from your intentional or grossly negligent failure to keep credentials secure, and from your failure to report unauthorised use without undue delay.

All intellectual property in the platform, including software, APIs, documentation, designs, trademarks and the Onyx Bridge Pay name and marks, belongs to us or our licensors. We grant you a limited, non-exclusive, non-transferable, revocable licence to use the platform for the duration of the Agreement and for its intended purpose only.

You retain ownership of your own content and brand assets. Where you are a White Label partner, you grant us a limited licence to use your marks strictly as needed to host and operate your branded instance.

If something goes wrong, contact us at complaints@onyxbridgepay.com. We acknowledge complaints within five business days and aim to provide a final response within 15 business days, extending to a maximum of 35 business days in exceptional cases with an explanation of the delay.

If you are not satisfied with our final response, you may escalate to the relevant supervisory authority or alternative dispute resolution body for your jurisdiction. Details are provided with our final response and on the Compliance page.

We may amend the Agreement to reflect changes in law or regulation, new or modified products, security requirements, or changes in our costs. We will give you at least two months notice of material changes by email or through the dashboard.

You are treated as accepting a change if you do not object before it takes effect. If you object, you may terminate the Agreement without charge before the change applies. Changes that are purely to your advantage, or required immediately by law, may take effect without notice.

The Agreement is governed by the laws of Ontario, Canada and the federal laws of Canada applicable there, and the courts of Ontario, Canada have non-exclusive jurisdiction.

If you are a consumer resident in the European Economic Area, the United Kingdom or Switzerland, this choice of law does not deprive you of the protection of mandatory consumer law in your country of residence, and you may bring proceedings in your local courts.

If any provision is found unenforceable, the remainder of the Agreement continues in force. Our failure to enforce a right is not a waiver of it. You may not assign your rights without our consent; we may assign ours as part of a reorganisation or transfer of business, on notice to you.

General enquiries

hello@onyxbridgepay.com

Complaints

complaints@onyxbridgepay.com

Compliance

compliance@onyxbridgepay.com

Partnerships

partners@onyxbridgepay.com

Registered office

100 King Street West, Suite 5700, Toronto, Ontario M5X 1C7, Canada