Terms of Service

Last Updated on March 1, 2023

Company Details

We are Naudapay Limited aka "Noda" ("Noda", "We", "Us", "Our"), a company registered in the United Kingdom under the company number 11741664 and our registered office is at 37th Floor, Office 37.38, 1 Canada Square, London, E14 5AA UNITED KINGDOM. We operate the Website https://noda.live and the services available through our official App.

Naudapay Limited is registered with the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services. Reference no. 832969.

Please feel free to reach out to Us at info@noda.live if You have questions or inquiries. We can also be contacted in-app via our help widget.

1. The Agreement

These Terms of Service shall serve as a legally binding contract between its Users ("You", "User", "Customer") and Noda, therefore, We suggest reading the document carefully. The Terms of Service, along with the Privacy Policy shall constitute the entire Agreement (further - "Agreement") between You and Noda. All of the services described below are the services provided by Noda and shall be collectively referred to as the "Service". By using the Service, You acknowledge that You accept and agree to be bound by the terms in the Agreement.

Noda grants You a limited, revocable, non-exclusive, non-transferable license to access and use the Service for Your own individual use, subject to the other terms of this Terms of Service. All rights, title, and interest in and to the Service not expressly granted herein are reserved by Noda.

We may, from time to time, make changes and adjustments to the Terms of Service and may not always be able to provide an update. Nevertheless, We will always make our best efforts to notify You of any material changes to Your email.

Should You not agree to any provisions of the Agreement, We suggest that You stop using the Service.

2. Service We Provide

In the scope of this Agreement between You and Us, Noda serves as a Payment Initiation Service Provider ("PISP") and We will provide You with Payment Initiation Services ("PIS"). What it essentially means, We will facilitate the payment process for You by transferring funds directly from Your linked payment account(s) to the chosen beneficiary, upon Your explicit consent.

After You select a Payment account provider or a Bank account provider (both further individually referred to as a "Partner") You want to link and/or make a payment from, You will be redirected to its official page (either in the app or in a browser) where You will need to undergo a verification process.

We will also serve as an Account Information Services Provider (AISP). The Account Information Service (AIS) enables You to access and view information about all Your online banking accounts in one place, and analyzes Your financial information to help You spend, save, borrow, and track Your funds flows more efficiently.

Noda does not provide any banking and or payment account services. Thus, Your chosen payment account provider is solely responsible for the execution of payments and any flaws in the functionality of its services. Nevertheless, if We consider that We are lacking permissions or for any reason providing our services to You would be unlawful We may choose not to provide the Service to You.

Within the scope of this Agreement and within the boundaries You allow Us to, We will share Your account information with other services and third parties of Your choice. Once such a partner gets access to Your information it automatically becomes responsible for it and the information becomes a subject to Your agreement with the corresponding partner and its Privacy Policy.

We will only have access to any of the accounts You link if You provide Your consent for it and only within the scope of the service We provide. Noda will never have access to, collect, or hold Your bank account or payment account credentials.

The Service shall be provided "as is" and on the "as available" basis. We do not make any warranty that:

  • The Service will meet Your requirements;
  • The Service will be uninterrupted, timely, secure, or error-free;
  • The results that may be obtained from the use of the Service will be accurate or reliable;
  • The quality of any products, services, information, or other material purchased or obtained by You through the Service will meet Your expectations; or
  • Any errors in the technology will be corrected.

3. Access to the Service

By using our provided services You represent and consent that:

  • You are at least 18 years old and have the legal capacity and authority to enter into a contract
  • You will only use the Service as an individual and purely for private purposes
  • You will not use the Service for any fraudulent purpose
  • You will not use the Services for any other unlawful purpose
  • You agree to Our Privacy Policy
  • You are responsible for keeping You account credentials safe and secure; You may not disclose Your credentials to any third party. To the extent allowed by the applicable law, You shall be liable for any expenses and reasonable attorney's fees for Your failure to safeguard the account credentials and/or promptly notify Noda about unauthorized use of Your account or compromising of Your account information or password
  • You will not create an account using a false or stolen identity. You represent and warrant that all the information provided by You within the scope of this Agreement is true and accurate
  • You may not resell or otherwise transfer the rights to use the Service
  • You may not decompile or disassemble the Service or use it, not in accordance with the purposes as per Agreement
  • You may not access the Service with the purpose of facilitating competitor products or services
  • Any forbidden use shall immediately terminate Your license to the Service.

4. Our Access to Your Data

To have full access to the Service, You must choose the banks or other Payment Account providers that You would like to connect or authorize Us to make payments from. Once You choose a Partner, We will redirect You to its webpage where You will be taken through a secure process to access information from Your Payment Accounts (here and elsewhere in the Agreement "Payment Account" shall refer to an account created with a Partner). You will be asked to provide Your explicit consent to enable Us to access Your financial data.

You consent that You grant Noda a non-exclusive, royalty-free licence to use the information in Your payment Accounts for all purposes connected with the Service or referred to in these Agreement, with the right to use, modify, display, distribute and create new material using or incorporating such information to provide the Service to You. We guarantee that We shall not use or access Your data for any other purposes, unless otherwise prescribed by law. To keep Your data safe and Your consent up-to-date, We will periodically ask You to renew Your consent.

You agree that when We retrieve Your information relating to Your payment Accounts or Your information required as part of the provision of the Service, We are doing so as Your representative and on Your behalf and not on behalf of or in the name of any third party.

By using the Service, You represent that You are the legal owner of the data in Your Payment Accounts and that You have the authority to appoint, and do expressly appoint Us and/or Our third-party providers as Your agent and grant a limited power of attorney to access and retrieve such data on Your behalf.

For our compliance purposes and in order to provide the Service to You, You hereby authorise Us to, directly or through a third-party, obtain, verify, and keep a record of the information and documentation that helps Us verify Your identity and Payment Account information. When You register for the Service and from time to time thereafter, We may require You to provide and/or confirm information and documents that will allow Us to identify You.

5. Account Termination and Suspension

You are free to terminate Your account or withdraw any consent given to Us at any time by contacting Us at info@noda.live or directly from Your account.

We may evaluate and determine, in our discretion, whether there has been a breach of this Agreement through Your use of the Service. When such a breach has occurred, We may take such action as We deem appropriate, including all or any of the following actions:

  • immediate temporary or permanent withdrawal of Your right to use the Service;
  • issue of a warning to You;
  • legal proceedings against You for reimbursement of all costs (including, but not limited to, reasonable administrative and legal costs) resulting from the breach;
  • further legal action against You; and/or
  • disclosure of such information to law enforcement authorities as We reasonably feel is necessary.

The responses described above are not limited and We may take any other action We reasonably deem appropriate and that doesn't go against the applicable law.

We may choose to reject Your registration or cancel an existing registration for any other reason at our sole discretion.

6. Indemnification and Liability

You agree to protect and fully compensate Noda and our affiliates from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable solicitors' fees) caused by or arising from Your use of the Service, Your violation of this Agreement or Your infringement, or infringement by any other user of Your account, of any intellectual property or other right of anyone.

We will have no liability to You for any failure or delay in performing any of our obligations under this Agreement to the extent that such failure or delay is caused or contributed to by You or by an event or circumstance beyond our reasonable control.


7. Complaints

We kindly ask You to address Your concerns and complaints directly to Us via info@noda.live and We will always assist You in our best effort. In case You end up being unhappy with our response or with the overall service provided, You have the right to take Your complaint to the Financial Ombudsman Service.

If Your complaint is about how We store or process Your personal information, You can also contact the Information Commissioner's Office. Again, We'd appreciate the chance to deal with Your concerns first.

8. General Provisions

This Agreement is governed by the laws of the United Kingdom. If a court decides that We cannot rely on a part of this Agreement, the rest of the Agreement will continue to apply, as each of the provisions of this Agreement operate separately.

If any provision of this Agreement is found to be invalid for any reason, the invalidity of that provision will not affect the remaining provisions of the Agreement, which will remain in full force and effect.