Terms - Verse

Verse general conditions of access and use

These General Conditions of Access and Use govern the access and the use of the services offered via the computer application for mobile devices “VERSE” (hereinafter, the Application) and constitute the conditions under which the payment service provider provides the available payment services. These General Conditions (hereinafter, Conditions) and their amendments, together with any other legally relevant terms and information, related to the use of the services provided by the Application, shall be made available to the User at all times within the Application, without prejudice to the information being sent to the User or appearing on websites owned by the owner of the Application or the group to which it belongs.

Having downloaded and registered with the Application, the User must read and accept all of the terms and conditions contained in these Conditions, and the Confidentiality Policy (jointly, the Contract).

1. Parties

Owner of the Application

The owner of the Application is DECENTRALIZED GLOBAL PAYMENTS, S.L. (hereinafter, DGP), and registered offices at Plaza Cataluña 21, Planta 3, 08002 Barcelona and entered in the Barcelona Business Registry under Volume 44953, folio 128, sheet B-472347, 1st entry.

For any queries or incidents related to the Application and its use, the User may contact hello@verse.com.

Payment services provider

The company that provides the payment serves governed by these conditions is EASY PAYMENT AND FINANCE, EP, S.A.U., (hereinafter, the Payment Institution) with registered offices at Alonso Heredia 2, 28028, Madrid, with N.I.F. A-85785905, and entered in the Madrid Business Registry under Volume 27.111, Folio 157, Section 8, Sheet M- 488476, 1st Entry.

The Payment Institution is subject to supervision by the Bank of Spain and is entered in the Official Register of Payment Institutions of the Bank of Spain with number 6849.

Should you wish to check said entry visit the website for the Bank of Spain.

The Payment Institution safeguards the funds received for the execution of the payment operations, keeping them in a separate bank account from its own funds.


Person who downloads the Application and accepts these Conditions.

2. Service description

DGP provides the Users with a platform or virtual space that enables them, via the Application installed on their mobile device, in a manner and the terms established in these Conditions, to:

  • a) Send payments to their contacts listed in the Contacts list on their mobile device.
  • b) Request money from their contacts listed in the Contacts list on their mobile device.
  • c) Receive and withdraw payments made by other Users that have your mobile phone number saved in their Contacts list.
  • d) Make payments at commercial, virtual (via the Internet) or bricks and mortar establishments.

For the purpose of providing the services indicated in letters a) to c), the Application requires the User’s permission to access the Contacts list on the mobile device for the mobile phone linked to their Account, should such access be denied the services cannot be provided.

In registering with the Application, the User shall automatically become the owner of a payment account (hereinafter, Account) opened by the Payment Institution into which the payments received from other Users will be deposited, and with which the details for one or several physical debit or credit cards may be linked, as well as current accounts issued or opened in their name by the credit institution within the territory of the UE or equivalent third party to provide it with funds.

Initiated payment instructions, commissions and expenses generated and payments received shall be noted in an accounting record to enable the User to view the detail of any executed payment operations and the amount of money available in their Account at any given moment.

3. Application Operation

3.1. Requirements

To benefit from the services provided by the Application, the User must comply with the following requirements: (i) be a natural person who is a consumer or user acting for reasons unrelated to their commercial activity, business, job or profession; (ii) possess an active mobile phone number in one of the countries where the application is available in the Apple or Google Play stores and an intelligent mobile device (hereinafter, Smartphone) subscribed to a service that enables access to and data transfer with the Internet; (iii) posses, as a minimum, a physical debit or credit card or a bank account issued or opened in their name by a credit institution in the UE or equivalent third country.

3.2. Registration, data verification and service activation

Registration: after downloading the Application to their Smartphone, the User must register with the Application by completing the fields requested, accept these Conditions, and the Confidentiality Policy and enter the information for the debit or credit cards and bank accounts they wish to link to their Account.

Data verification and service activation: having entered the registration data, the data provided is then authenticated and verified. The User cannot use the services unless they pass said checks and unless they have provided all of the required information during registration, and any information that may be required in compliance with the terms of applicable laws.

The verification of the User’s identity via authoritative documents is conducted for anyone exceeding an accumulated total of 1000 euros (or equivalent amount in foreign currency) per year for payments sent or received.

DGP will provide the User with notice of service confirmation immediately following the successful completion of the data registration and verification process, by sending an email or other durable medium.

3.3. User identification credentials

The telephone number linked to the Smartphone where the Application has been downloaded to will constitute the identification credential for the Application User and shall serve as an identifier for the transactions that are conducted by the User via the Application. For this reason, the User may not change the telephone number connected to their Account. Should they wish to use a different number, they must open a new Account.

3.4. Public Profile

Data relating to the User’s name and profile photo associated with their Account form their “Public Profile”, and may be seen by other Users that have their telephone number saved to their Contacts list, which the User expressly authorises.

The Application has search engines that enable you to search and be found, as long as the person initiating the search has the mobile phone number of the other person saved in their Contacts list.

3.5. Application Functionality

3.5.1. Making P2P payments

Using the Application, the User may make payments to the accounts of other Users listed in the Contacts list on their mobile phone for the number linked to their Account.

To make a P2P payment the User must enter the exact sum to be transferred into the Application and select the beneficiary from their Contacts list, thereby authorising the payment transaction. The payment amount will be credited to the receiving User’s Account and charged to the Account of the User issuing the payment. In the event that the beneficiary contact is not a User of the Application, they will be sent an invitation in the name of the User to download and register with the Application. If following seven (7) days since the invitation was sent, the contact has not downloaded and registered with the Application, the sum transferred by the User will be returned to their account.

The User may optionally configure the Application to request a password as an alternative means of approving the execution of the payment operation.

When the Application permits, the transfers may be made in a different currency to the local currency for the User’s account.

3.5.2. Requesting money

The User may request money from any contact in the Contacts list on their mobile phone whose mobile phone number is linked to their Account.

To this end, the User must enter the exact sum they wish to receive into the Application and select the contact from their Contacts list from whom they wish to receive payment, thereby authorising the Application to send a communication to that User asking them to proceed to order payment under the terms requested or reject it. In the event that the contact selected by the User to send the payment is not a User of the Application, they will be sent an invitation in the name of the User to download and register with the Application.

3.5.3. Receiving and withdrawing money

The User’s Account will receive all payments made by the other Users where the User may decide to accumulate said payments in the Account such that they can be used to make other payments, or order the withdrawal of said sums from their Account to a bank account opened in their name by a credit institution in the territory of the UE or equivalent third country.

To withdraw money from the Account, the User must enter the exact amount to be withdrawn and the IBAN number for the destination bank account, thereby authorising the execution of the payment transaction.

They may likewise configure the option to withdraw money automatically, so that any payment received into the Account is automatically withdrawn and transferred to the IBAN established for this purpose, thereby authorising a periodic payment order.

The sum withdrawn shall be paid into to the User’s Account straight away.

3.5.4. Making payments in shops

To make payments for goods and services in shops, either virtual or bricks and mortar, the Payment Institution will issue a debit card linked to the Application and the User’s Account (hereinafter, the Card).

The Card will include a card number, an expiry date, a monthly accumulated transaction amount limit, and a personnel identification number (PIN) set by the User and communicated to the Payment Institution.

Card issuance will not necessarily involve the issuing of physical media to legitimise or enable its use.

Therefore, for payments on the Internet at virtual stores, the User must enter their Card data, thereby authorising execution of the payment transaction.

For payments at bricks and mortar stores, these must possess Contactless POS devices (where a physical card has been issued) or NFC devices (where a Card has not been issued on physical media). In either case, the User must place the Smartphone where they have downloaded the Application beside the POS device used to manage the payment transaction process, thereby authorising the execution of the operation.

Without prejudice to the foregoing, once the transaction has been authorised, the user must enter the Card PIN, if required by the business authentication method.

In any event, payments shall be recorded against and charged to the Card linked to the Account.

3.5.5 Consulting statements. Transaction history

The User may access their payments history via the Application, for any transactions conducted using their Card and their Account and Card balances.

The User must check all activity carefully and immediately notify the Payment Institution via the Application and without delay if said activity includes anything that seems incorrect or has not been conducted according to their instructions.

4. Price

The Application is currently free to download for the User. However, DGP may establish some form of payment after notifying the User. Any modification thereto will be governed by the terms of these Conditions.

Without prejudice to the foregoing, the access to and use of the Application may involve the use of mobile telephony services, such as web browsing, that may incur a cost from the mobile telephone operator, to be met by the User.

Likewise, the Payment Institution has the right to receive from the User any rates established for the payment systems it provides.

5. Telematic signature. Transaction authorisation

The User gives their express consent to the use of telematic acceptance media such as, for example, the act of checking a checkbox or pressing an icon with the terms “accept”, “finish”, “OK”, “confirm”, or entering a username and password (hereinafter, telematic signature), as a means of providing their consent, including, but not limited to, entering into contracts with DGP and the Payment Institution, the acceptance of specific disclaimers and communications from said institutions, and the sending of orders and instructions via the Application.

A Telematic signature is deemed to be the equivalent of a manual User signature for all intents and purposes. Consequently, the sending of orders and instructions via the Application constitutes the User’s authorisation and acceptance of the operation performed, and the impossibility of it being repudiated (either directly or via a third-party with access to their Smartphone and their data due to User negligence, or when the User has acted fraudulently and in bad faith).

The User expressly accepts that both DGP and the Payment Institution may save the contracts and orders signed on its secure servers, by way of telematic delivery, and use them as proof of execution. In the event of a discrepancy between their copy and the filed contract or order, the latter shall prevail.

6. Intellectual Property

DGP grants, and the User accepts, a free licence to use the Application owned by DGP, which is personal and non-transferable, limited, non-exclusive and available, following acceptance of these Conditions, through a telematic download process, to directly access the home screen enabling access and use of the functionality provided via the Application. Said use includes the total or partial reproduction of the Application exclusively in the form of its use, downloading, execution and display on a Smartphone.

The use of the Application is restricted to the aforementioned use and its use for any other purpose is expressly prohibited and is considered to be an act of software piracy that infringes intellectual and industrial property law, such that DGP may seek liability for non-compliance with this condition, in accordance with applicable laws. Likewise, the user or third-parties are expressly prohibited from manipulating, either in full or in part, the Application.

Likewise, the Application as a whole, that is, its constituent elements (texts, images, brands, logos, audio files, software files, colour combinations, etc.), as well as the structure, selection and order in which its content is presented, are protected by Intellectual and Industrial property law, and cannot be subject to exploitation, reproduction, distribution, modification, public communication, cessation or transformation or any other form of dissemination unless expressly authorised.

Access to the Application does not grant the User any form of right to, or ownership of, the intellectual or industrial property rights for the content within the Application. DGP reserves the right to take the relevant legal action against any Users that violate or infringe its intellectual and/or industrial property rights.

The User is responsible for checking that the Application is compatible with their Smartphone, and is therefore liable for any damage that may arise from the use of the Application, including its installation on the Smartphone.

DGP reserves the right to modify and/or improve the Application, at any time and without prior notice, which will then become the exclusive property of DGP. In particular, DGP reserves the right to delete, limit or prevent access to the Application in the event of technical difficulties arising due to events or circumstances beyond the control of DGP which, in its opinion, reduce or cancel the standard security levels adopted for the correct operation of said Application.

7. Framework Agreement for Payment Services preliminary information and general conditions

The terms of this Condition are complementary to the other conditions established in this contract and apply, as applicable, to the payment services provided by the Payment Institution under the same.

7.1. Scope of application

These general conditions for the Framework Agreement for Payment Services (hereinafter, the General Conditions) are applicable to the following payment operations and services provided within Spanish territory by the Payment Institution:

  1. Payment services that enable cash to be deposited and withdrawn to/from a payment account and all of the operations required to manage the payment account.
  2. The execution of payment operations, including the transfer of funds, via the User’s payment account with the payment services provider or other payment services provider.
  3. The execution of payment operations in which the issuer’s consent is transmitted when executing the payment operation via telecommunications or computing devices, acting solely as an intermediary between the payment service user and the provider of goods and services.
  4. The provision of operational services or ancillary services closely related to the provision of payment services, such as payment operation execution guarantees, foreign currency exchange services, data custody and storage and processing activities.
  5. The issuance and acquisition of payment instruments.
  6. Payment operations using a card or device or similar system, originating in a POS device or cash machine.

7.2. Unique Identifier

Each order will have a unique number for future tracking or Unique Identifier.

The Unique Identifier for payment operations conducted using a Card is its corresponding number.

7.3. Payment order consent and authorisation

A payment operation is understood to have been authorised when consent has been provided via one of the remote communications techniques provided under the applicable legislation and, in particular, by the use of telematic, electronic, or other similar means.

The payment operations are considered to have been authorised when the User has given their consent in accordance with the terms of these Conditions.

7.4. Irrevocability and cancellation of a payment operation

Payment operations issued by the Users are irrevocable the moment they are received by the Payment Institution. The moment of receipt is when the Payment Institution receives the operation. If the time of receipt is not a working day for the Payment Institution.

The User may withdraw their consent at any time prior to the aforementioned date of irrevocability.

7.5. Rejection of payment orders

The Payment Institution reserves the right to reject the execution of a payment order in the following cases: (i) If prior to the execution of a payment operation the User does not to have sufficient funds in the Account for execution; (ii) If the User is not able or refuses to provide the documentation required or when necessary on account of internal control procedures at the Payment Institution or in compliance with applicable regulations; or (iii) If the operation, in accordance with its regulatory internal controls, requires additional verifications that impede its immediate execution.

Payment orders that have been rejected are not considered to have been received for the purposes of their execution.

Likewise, the Payment Institution reserves the right to block the use of a Card to maintain its security if suspected by the Payment Institution of unauthorised or fraudulent use.

Should the Payment Institution reject the execution of a payment order or block a Card, it will notify the User and, where possible, provide the reasons for doing so, prior to or immediately thereafter, unless prohibited by law from providing said notification or where this would compromise security.

7.6. Payment operation maximum execution period and value date

It is expressly agreed that the terms relating to the execution period and value date shall only apply to payment operations performed in Euros in which both payment service providers are located in the European Union.

The execution of P2P payments between Users requires that both posses a payment account at the Payment Institution, resulting in a near immediate execution period, and in any event, no later than the end of the next working day following receipt of the payment order.

Transfers for the execution of cash withdrawal orders from the User’s Account must be paid from the User’s account with the payment service provider no later than the end of the next working following receipt of the order.

The value date for the payment into the beneficiary’s Account cannot be later than the effective date on which the payment operation amount is paid into the beneficiary’s account with the payment service provider.

The value date for the debit against the Account of the issuer of the order cannot pre-date the moment the payment operation amount is charged against said account.

7.7. Limits

The User may implement the payment operations governed by these Conditions up to a limit of 400 Euros (or equivalent foreign currency amount) per year for accumulated payments made from or received into their payment account.

To exceed this limit, the User’s identity must be verified using authoritative documents, upon the implementation of said verification, the new limit will be 10,000 Euros (or equivalent foreign currency amount) per year for accumulated payments made from or received into their payment account.

The monthly limit on Card transactions shall be notified to the User at the time of issue.

7.8. Commission and expenses

As payment for the provision of the services governed by these Conditions, the User commits to pay the commission and expenses applicable to the corresponding operation, according to the settlement of expenses made in the corresponding payment order and the rates applicable at the time the service is provided, the current version of which is permanently available for viewing from within the Application and also available on the Payment Institution’s website (http://www.easy-ep.com).

7.9. Exchange rate

For payment operations that involve currency conversion and currency exchange services, the exchange rate will be calculated based on the currency sale or purchase rates, as applicable, for cash transactions that the Payment Institution has published on its website (http://www.easy-ep.com) on the date the operation is executed, unless the parties agree to apply a different exchange rate.

The exchange rate may be modified immediately and without prior notice, if the change is based on agreed reference exchange rates, and when these are more favourable to the User.

In any event, the User will be informed of the applicable exchange rate through the Application, and can reject it if not in agreement.

7.10 Unauthorised or incorrectly executed payment operations

When the User is aware that an unauthorised or incorrectly executed payment operation has been conducted, they must notify the Payment Institution without unjustified delay via the Application, at the email address hello@verse.com or by phone at +34 900809089 for it to be corrected.

The communication referred to in the previous section must be conducted within a maximum period of thirteen months from the date of payment or debit, as applicable, of the operation amount.

7.11. Other User obligations

Special User obligations, without prejudice to the terms of other Conditions, are as follows:

  • a) Keep safe the mobile phone where Application has been downloaded and, where applicable, the physical Card provided.
  • b) Keep the card number and PIN secret.
  • c) Notify the Payment Institution via the Application, at the email address hello@verse.me as soon as they are aware of the loss, theft or improper use by third parties of the mobile phone and/or the Card, or improper access to them, and any other issue that may lead to said improper use.

7.12. Responsibilities

The Payment Institution will immediately refund the sum of the unauthorised or improperly executed operation in all cases where it can be demonstrated that the operation was authenticated, exactly recorded and accounted for, and was not affected by a technical fault or any other defect.

Not withstanding, the User shall pay a maximum of 150 Euros, for any losses derived from unauthorised payment operations resulting from the loss or theft of the mobile phone and, where applicable, the Card, that have taken place prior to the communication foreseen in section 7.11.c) above. The User shall not suffer any economic consequences for subsequent use following said communication.

In any event, the User shall bear the total cost of any losses resulting from unauthorised payment operations that are the result of their fraudulent behaviour or non-compliance, deliberate or due to serious negligence, of one or several of their obligations under Condition 7.11. above.

8. Communications

For the purposes of these Conditions, and any communication required between the User and DGP, these can be sent to hello@verse.me and to communicate with the Payment Institution to hello@verse.me, without prejudice to the tools that may be directly enabled in the Application for this purpose.

The User accepts that the communications and notices from the Payment Institution or DGP addressed to the User regarding this contract, may be sent using a durable medium via their email address or via the Application’s messaging service and are considered effective 24 hours following their publication.

9. Modification of these Conditions

DGP reserves the right to unilaterally modify these Conditions at any time. Any changes will be published in the Application at least 60 calendar days prior to the date on which they come into effect. Likewise, an alert may be sent to the email address provided by the User or to the mobile phone number associated with their Account.

Similarly, the Payment Institution may suggest to the User any modification to the Framework Contract general conditions and the applicable rates two months in advance of their coming into force, via email or durable medium via the Application, which is accepted by the User.

In both cases, the User may terminate their legal relationship with the party proposing the modification at no cost prior to the entry into force of the modification, notifying their decision using the method provide by it for this purpose, although this will mean the User may no longer continue ordering payment operations via the Application. The User will be considered to have accepted the modification if they fail to notify their non-acceptance prior to the proposed date for its entry into force. If said period has elapsed without the contract being terminated, it shall remain in force with the new conditions in place.

Notwithstanding, all modifications that are more favourable to the User may be immediately applied, without the need for a waiting period or prior notice.

The updated contract conditions shall be maid available to the User, and these may be requested at any time and sent to the User to the email address they have provided.

10. Termination


The provision of the services governed herein shall have an indefinite duration, not withstanding DGP or the Payment Institution may notify their decision to terminate the contract with the User giving two months notice prior to the date of termination.

Should the User wish to terminate the contract, they must withdraw any balance that may exist in their Account and notify the Payment Institution, one month prior to the date on which they wish the termination to come into force, and must return or destroy the physical Card which may have been issued, as applicable. Without prejudice to the foregoing, the User may at any time instigate their removal from the Application using the functionality provided for this purpose.

With cause

Either party may terminate the contract without notice should the other party breach the respective obligations that govern it.

In any event, contract termination also implies the cancellation of the payment account and the Card.

11. Withdrawal

The User may exercise, their right to withdraw from this contract within 14 calendar days from signing without giving any reason using the Application’s cancellation functionality or by sending an email to hello@verse.me from the User’s address provided during the Application registration process.

12. Complains and claims procedures

Regarding the application and its operation

The User may address their complaints and claims in writing using the functionality provided for this purpose in the Application or via email to hello@verse.me or by phone at +34 900809089.

Relating to the provision of payment services

The User may address their complaints and claims in writing to the Customer Support Service for EASY PAYMENT AND FINANCE, EP, S.A.U. at their registered offices or to customerservice@easyremesas.com

The Customer Support Service shall resolve the complaints and claims presented within a maximum period of two months following their presentation.

In cases where the complaint presented to the Customer Support Service is rejected or two months have elapsed without the aforementioned service having responded, the Customer may present their claim to the Commissioner for the Defence of Banking Service Customers (through the Bank of Spain Complaints Department), at the following address: Bank of Spain, Complaints Department, C/. Alcalá 50, 28014 Madrid; or via the Bank of Spain’s Virtual Office.

A copy of the Customer Service Regulations is available at all offices of the Payment Institution and its authorised agents for consultation by the User.

13. Language

These Conditions, the general conditions of the Framework Contract, the services provided by the Payment Institution and any other information or communication with the User are provided in Spanish.

It can be agreed on an individual basis for the contract and service documents to be provided in another language.

14. Applicable law and jurisdiction

These Conditions are subject to Spanish jurisdiction and legislation.

The general conditions of the Framework Contract are governed by its clauses and, where not stipulated, by Law 16/2009, of 13 November on payment services and Order EHA/1608/2010, of 14 June, on the transparency of information conditions and requirements applicable to payment services and any other that may replace or complete it in future.

Any conflict or discrepancy regarding the interpretation or application of the terms of this contract, shall be heard by the Courts and Tribunals stipulated in the applicable legal regulations governing jurisdictional competence, based on, in the case of end consumers, the place where the obligations derived from the contract are to be performed or the User’s domicile, as they choose, and without prejudice to the User’s ability to attend a Consumer Arbitration Board in their area. To all intents and purposes, the registered offices of the Payment Institution are understood to be the place where the obligations derived from the contract are to be performed.

The User is informed that the European Commission has provided an online dispute resolution platform at: http://ec.europa.eu/consumers/odr/. Consumes may submit their complaints to the online dispute resolution platform.

15. General conditions

These Conditions have been drafted in advance by DGP and the Payment Institution, and therefore any that are not governed by a general or specific provision making them compulsory for the User or which have not been subject to specific negotiation, are to be considered general contract conditions, with the User leaving proof of their express acceptance thereof and their addition to the contract, in accordance with Law 7/1998, of 13 April, on General Conditions of Contract.

16. Terms and conditions of the Verse referral program

How to participate in the referral program:
1. Each Verse user is given 5 referral codes when they register in the Application. The codes can be found in the Application under Settings – Promotions.
2. A user can send their referral code to to 5 different friends.
3. Each referred friend has to enter the code received when registering in the application.
4. When the referred friend has transferred at least 50 € with with one or various credit or debit card, both the user and the referred friend get an instant 5 € reward.

17. Terms and condition of the Verse 100 € raffle

How to participate in the survey “How did you hear about Verse”:

1. All users who have completed a transaction with Verse and participated in the survey “How did you hear about Verse” (to which they have access via the transaction’s confirmation email) are considered participants in this contest.

2. Verse will randomly select one winner annually among all the participants. He or she will receive a sum of 100 Euros directly in his or her Verse account. This account has to have been active from the moment the survey was completed to the end of that calendar year. It can not be combined with any other offer.

3. Participation in the raffle is optional and free of charge.

4. Verse will communicate the prize via email on December 31st.