ARYZE

Version 1.0 · Last updated: 26 March 2026

General End User Terms and Conditions

Aryze Pay by Bank (UK)

1. Introduction

  1. 1.1 These General End User Terms and Conditions (the “Terms”) apply when you use Aryze's Pay by Bank services (the “Services”).
  2. 1.2 The Services are made available to you in connection with a merchant, platform or other business (the “Merchant”) that has integrated Aryze's payment infrastructure.
  3. 1.3 The Services are provided under the Aryze brand. Aryze ApS, a company incorporated in Denmark with registered address at Bredgade 3, 1260 Copenhagen, Denmark (“Aryze”, “we”, “us” or “our”), acts solely as a technology provider and service interface provider.
  4. 1.4 Aryze is not a bank, does not hold client funds, and does not provide regulated payment services.
  5. 1.5 Where the Services involve regulated payment initiation services (“PIS”) in the United Kingdom, such regulated services are provided by Volt Technologies Holdings Limited, a company registered in England and Wales with registered address at 42 Berners Street, London, W1T 3ND (“Volt”).
  6. 1.6 Volt is authorised and regulated by the Financial Conduct Authority as a Payment Institution and is permitted to provide payment initiation services.
  7. 1.7 The Services leverage open banking infrastructure and connectivity frameworks, including Mastercard Open Banking, to enable secure account-to-account payments.
  8. 1.8 Your bank or payment account provider (“Bank”) is separate from Aryze and Volt and remains responsible for your payment account, authentication and execution of payments.
  9. 1.9 By using the Services, you confirm that you have read, understood and agree to be bound by these Terms. If you do not agree, you must not use the Services.

2. The Services

  1. 2.1 Aryze Pay by Bank enables you to initiate account-to-account payments directly from your Bank account to a Merchant.
  2. 2.2 The Services are powered by Aryze's technology infrastructure and orchestration layer, operating on top of open banking connectivity and payment networks, including Mastercard Open Banking.
  3. 2.3 Aryze provides the interface, connectivity, orchestration and transaction flow management required to enable the Services.
  4. 2.4 Where a regulated payment initiation service is required, that regulated activity is performed by Volt under its regulatory permissions.
  5. 2.5 At no point does Aryze hold, receive or control your funds. All funds are transferred directly between your Bank and the Merchant via the relevant payment systems.
  6. 2.6 Aryze does not:
    • access or store your online banking login credentials;
    • operate or control your Bank account;
    • execute payments without your explicit authorisation.
  7. 2.7 The Services depend on third parties including your Bank, payment systems and regulated providers.

3. How Pay by Bank Works

  1. 3.1 When you choose Pay by Bank:
    • you select your Bank;
    • you are redirected to your Bank or a secure authentication environment;
    • you authenticate using your Bank's required method;
    • you approve the payment.
  2. 3.2 By approving the payment, you:
    • instruct the relevant regulated provider (Volt) to initiate the payment;
    • authorise your Bank to transfer funds to the Merchant.
  3. 3.3 Once authorised, the payment cannot normally be cancelled through Aryze.
  4. 3.4 Aryze and/or Volt may confirm to the Merchant that the payment has been successfully initiated.
  5. 3.5 The execution, processing and settlement of the payment is carried out by your Bank and the relevant payment systems.
  6. 3.6 Payments are executed as account-to-account transfers using open banking infrastructure and connectivity, including Mastercard Open Banking.

4. User Eligibility

  1. 4.1 To use the Services, you must:
    • be at least 18 years old or the legal age required;
    • have legal capacity to enter into binding agreements;
    • hold or be authorised to use the relevant Bank account.
  2. 4.2 You confirm that:
    • the Bank account used belongs to you or you are authorised to use it;
    • the information you provide is accurate and complete;
    • you will use the Services only for lawful purposes.

5. User Obligations

  1. 5.1 You must:
    • follow all instructions during the payment process;
    • ensure your device and banking access are secure;
    • not interfere with or disrupt the Services.
  2. 5.2 You must not:
    • use the Services for fraud, money laundering or illegal purposes;
    • attempt to bypass or compromise security;
    • impersonate another person or entity.
  3. 5.3 You are responsible for all actions taken using your Bank authentication.

6. Fees

  1. 6.1 Aryze does not charge you for using the Services unless explicitly stated.
  2. 6.2 Your Bank or other providers may charge fees independently.

7. Service Availability

  1. 7.1 The Services are provided on an “as available” basis.
  2. 7.2 Aryze does not guarantee uninterrupted or error-free operation.
  3. 7.3 The Services may be unavailable due to:
    • Bank downtime;
    • system maintenance;
    • technical failures;
    • external dependencies;
    • regulatory requirements.

8. Refusal, Suspension and Security

  1. 8.1 Aryze and/or Volt may refuse, suspend or delay a transaction where reasonably necessary to:
    • comply with legal or regulatory obligations;
    • prevent fraud or financial crime;
    • address security risks;
    • investigate suspicious activity.
  2. 8.2 Access to the Services may be restricted where misuse is suspected.
  3. 8.3 Where permitted, you will be informed if a transaction is blocked or delayed.

9. Data Protection

  1. 9.1 Your personal data is processed to:
    • provide the Services;
    • enable payment initiation;
    • comply with legal and regulatory obligations;
    • prevent fraud and ensure security;
    • improve and maintain the Services.
  2. 9.2 Data may be shared with:
    • your Bank;
    • the Merchant;
    • Volt (as regulated PIS provider);
    • payment systems and infrastructure providers;
    • fraud prevention and compliance providers;
    • authorities where required by law.
  3. 9.3 For more information, please refer to Aryze's Privacy Policy.

10. Merchant Relationship

  1. 10.1 Aryze is not a party to your agreement with the Merchant.
  2. 10.2 Aryze is not responsible for:
    • goods or services provided by the Merchant;
    • delivery, refunds or disputes.
  3. 10.3 Any disputes must be resolved directly with the Merchant.

11. Liability

  1. 11.1 Nothing in these Terms excludes liability that cannot be excluded under applicable law.
  2. 11.2 Aryze is liable only for direct losses caused by its breach of these Terms.
  3. 11.3 Aryze is not liable for:
    • acts or omissions of your Bank;
    • acts or omissions of the Merchant;
    • failures in payment systems or infrastructure;
    • your misuse of the Services.
  4. 11.4 Aryze is not responsible for the operation, availability or performance of underlying banking infrastructure, including open banking networks or Mastercard Open Banking connectivity.
  5. 11.5 Where regulated payment initiation services are provided by Volt, liability for those services is governed by applicable regulatory law and Volt's obligations as a regulated payment institution.

12. Complaints

  1. 12.1 If you have a complaint regarding Aryze, you can contact:

    Email: legal@aryze.io

  2. 12.2 If your complaint relates to regulated payment initiation services, it may be handled by Volt.
  3. 12.3 You may have the right to refer complaints to the Financial Ombudsman Service in accordance with applicable law.

13. Intellectual Property

  1. 13.1 All intellectual property rights in the Services belong to Aryze or its licensors.
  2. 13.2 You may only use the Services for their intended purpose.

14. Force Majeure

  1. 14.1 Aryze is not liable for failure or delay caused by events outside its reasonable control, including:
    • system failures;
    • cyber attacks;
    • regulatory actions;
    • natural disasters.

15. Governing Law

  1. 15.1 These Terms are governed by the laws of England and Wales.
  2. 15.2 Disputes shall be subject to the jurisdiction of the courts of England and Wales, unless mandatory consumer law provides otherwise.

16. Changes to These Terms

  1. 16.1 Aryze may update these Terms from time to time.
  2. 16.2 Updated Terms will be made available through the relevant interface.

17. Contact

Aryze ApS

Bredgade 3

1260 Copenhagen

Denmark

Email: legal@aryze.io

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