Terms and Conditions

1. Introduction and Acceptance

These Terms and Conditions ("Terms") form a binding agreement between you ("End User") and LumiFin SAS, a French company registered at 50 rue Anatole France, 92290 Châtenay-Malabry, France ("Lumi", "we", "us").

Lumi operates the Lumi mobile application ("App"), which enables European travelers to pay at merchants in Southeast Asia by scanning local QR codes.

By using the App, you agree to these Terms and our Privacy Policy. If you do not agree, do not use the App.

1.1 Payment Partner

Lumi is a technology provider. We do not hold funds, process payments, or perform currency exchange. These regulated services are provided by our Payment Partner (currently Trans-Fi Inc. and/or its affiliates) under their own authorizations and terms.

By using the App, you enter into a separate contractual relationship with the Payment Partner for Payment Services. The Payment Partner Terms are available in the App and at https://www.transfi.com/terms-and-conditions. In case of conflict regarding Payment Services, the Payment Partner Terms prevail.

1.2 Modifications

We may update these Terms with at least 30 days' notice via the App or email. Changes required by law, fraud prevention, or security may take effect immediately. Continued use after the effective date constitutes acceptance.

1.3 App Store Terms

If you download the App from Apple's App Store or Google Play, the applicable platform terms also apply. Apple and Google are not parties to these Terms.

2. Definitions

"App" — the Lumi mobile application (iOS/Android). "Account" — your personal account in the App. "Wallet" — the digital wallet held by the Payment Partner on your behalf (not a bank account; does not accrue interest). "Payment Partner" — Trans-Fi Inc. and/or its affiliates providing Payment Services. "Payment Services" — custody, FX conversion, payment execution, and settlement provided by the Payment Partner. "Lumi Services" — the technology services provided by Lumi (App, interface, support). "QR Payment" — a payment initiated by scanning a merchant's QR code. "SEPA Transfer" — a SEPA credit transfer to fund your Wallet. "Supported Countries" — countries where QR Payments are available, as listed in the App.

3. Eligibility and Account

To use the App you must: (a) be at least 18 years old; (b) reside in the EU or EEA; (c) hold a SEPA-zone bank account in your name; (d) not be subject to applicable sanctions; and (e) use a compatible, up-to-date device.

You must provide accurate information when creating your Account and keep it updated. You are responsible for securing your credentials (mPIN, biometrics). Notify us immediately at support@lumifin.io if you suspect unauthorized access. Each End User may hold only one Account.

4. The Services

4.1 Overview

The App allows you to: (a) fund your Wallet via SEPA Transfer; (b) make QR Payments at merchants in Supported Countries; (c) view your balance and transaction history; and (d) withdraw funds to your bank account.

4.2 Funding

Fund your Wallet by SEPA Transfer from a bank account in your name. We may also offer Open Banking payment initiation (the underlying transaction remains a SEPA Transfer). Minimum and maximum limits apply and are displayed in the App.

4.3 QR Payments

Scan the merchant's QR code, review the amount (local currency and euros), the exchange rate, and fees, then authorize with your mPIN or biometrics. Once authorized, the transaction is generally final. You are responsible for verifying the amount and merchant before confirming.

4.4 Exchange Rates

Currency conversion is performed by the Payment Partner. The rate is displayed before you confirm and is fixed at the time of authorization. Rates are based on market conditions, may include a spread, and may differ from interbank rates.

4.5 Withdrawals

Withdraw funds to the bank account from which you funded (or another approved account). Typically completed within 5 business days, though delays may occur due to compliance checks or bank processing times.

4.6 Limits

Transaction, daily, and monthly limits apply to funding and payments. Limits are displayed in the App and reset on the 1st of each calendar month. We may adjust limits for legal, compliance, or operational reasons.

4.7 Refusal of Transactions

We and the Payment Partner may refuse, delay, or reverse transactions if: (a) we suspect fraud or illegal activity; (b) required by law or sanctions; (c) ordered by a court or authority; or (d) we cannot verify your identity or source of funds.

4.8 Errors and Unauthorized Transactions

If you believe a transaction is incorrect or unauthorized, notify us promptly at support@lumifin.io with relevant details. We will investigate with the Payment Partner and payment network. Outcomes depend on circumstances, merchant policies, and Payment Partner Terms.

5. Payment Partner and Third Parties

The Payment Partner provides: custody of your funds, currency exchange, payment settlement, and compliance checks. Lumi provides: the App, user interface, transaction display, and customer support.

Lumi is not a bank, payment institution, or electronic money issuer. We do not hold your funds. To the maximum extent permitted by law, Lumi is not liable for acts, omissions, or insolvency of the Payment Partner or third-party payment networks. This does not affect your statutory consumer rights.

6. Identity Verification and Compliance

Identity verification (KYC) is required before you can use Payment Services. We collect your information and identity documents through the App; the Payment Partner validates them under its regulatory obligations. Enhanced due diligence (source of funds, PEP/sanctions screening) may be required at any time.

You represent that: (a) all information you provide is accurate and genuine; (b) your funds are from lawful sources; (c) you are not acting for a third party; and (d) you are not subject to sanctions. False information is a material breach and may result in Account termination and reporting to authorities.

7. Fees

Lumi charges 2% per QR Payment, displayed before you confirm. No subscription or hidden fees. Funding and withdrawals are currently free from Lumi (your bank may charge). The exchange rate may include a spread set by the Payment Partner, separate from our 2% fee.

We may change fees with at least 30 days' notice. If you disagree, you may close your Account and withdraw your funds.

8. Prohibited Activities

You must use the App only for personal, non-commercial purposes and comply with all applicable laws. You must not: (a) use the App for unlawful purposes; (b) attempt unauthorized access; (c) reverse-engineer the App; (d) use automated means; (e) create multiple accounts; (f) make payments on behalf of third parties; (g) exploit vulnerabilities; or (h) circumvent limits or controls.

Violations may result in immediate suspension, Account termination, and reporting to authorities.

9. Intellectual Property

All intellectual property in the App belongs to Lumi or its licensors. We grant you a limited, non-exclusive, non-transferable, revocable license to use the App on your personal device solely to access the Services.

10. Limitation of Liability

The App is provided "as is" without warranties of any kind, to the maximum extent permitted by law. We do not guarantee uninterrupted or error-free availability.

To the maximum extent permitted by French law: (a) Lumi is not liable for indirect, consequential, or punitive damages; (b) Lumi is not liable for losses caused by the Payment Partner, payment networks, or merchants; (c) Lumi is not liable for force majeure; and (d) our aggregate liability is capped at fees you paid to Lumi in the 12 months preceding the claim.

Where mandatory law requires a higher cap, the minimum permitted amount applies. Lumi is not a party to merchant transactions; disputes with merchants must be resolved directly with the merchant.

Nothing in these Terms excludes liability for death or personal injury from negligence, fraud, or any non-excludable liability under French or EU law. Your statutory consumer rights are not affected.

11. Termination

You may close your Account at any time via support@lumifin.io. We will return remaining funds within 14 business days, subject to pending transactions and compliance checks.

We may suspend or terminate your Account if: (a) you breach these Terms; (b) required by law; (c) we suspect fraud; (d) you fail identity verification; or (e) your Account is inactive for 12 months.

12. Governing Law and Disputes

These Terms are governed by French law. Disputes will first be addressed amicably (contact support@lumifin.io). If unresolved within 30 days, the competent courts of Paris have jurisdiction.

If you are a consumer resident in the EU/EEA/UK, nothing deprives you of mandatory consumer protections or jurisdiction rules in your country of residence.

Complaints: we aim to acknowledge within 5 business days and respond within 30 days. You may also use the EU Online Dispute Resolution platform at https://ec.europa.eu/consumers/odr.

13. General

These Terms, our Privacy Policy, and the Payment Partner Terms constitute the entire agreement. If any provision is invalid, the remainder continues in force. Our failure to enforce a right is not a waiver. We may assign these Terms to an affiliate; you may not assign without consent. Notices are sent via the App or email. We may offer promotions subject to specific terms; we may withdraw them in cases of abuse.

These Terms are in English. In case of translation, the English version prevails.

Contact

LumiFin SAS — 50 rue Anatole France, 92290 Châtenay-Malabry, France

Email: support@lumifin.io | Website: https://lumifin.io