VerseEvents Terms

Last updated: September 27, 2022

IMPORTANT

These Verse Events Terms (the “Terms”) govern your creation and organization of Basic Events and Unlimited Events through the Verse application (“Verse App”). These Terms constitute a legal agreement between:

  • you, the customer of Verse Payments Lithuania UAB, and holder of a payment account with Verse (“You”), and
  • us, Verse Payments Lithuania UAB (“Verse” or “We”), a limited liability company incorporated in accordance with the laws of the Republic of Lithuania, with company number 304932396, and registered office at Workland G9, Gedimino ave. 9 (4 floor), LT-01105, Vilnius, Republic of Lithuania.

1. Introduction

We are an electronic money institution, supervised by the Bank of Lithuania, and we have an electronic money institution license issued by the latter authority (authorization code number LB001874), under which we are authorized to: (i) issue electronic money, (ii) execute payment transactions, and (iii) provide other services approved under our license (the “Regulated Services”). 

We are authorized to provide the Regulated Services in the countries of the European Union and of the European Economic Area (“EU/EEA”) authorized to us by the Bank of Lithuania. More information about us and our authorized Regulated Services can be found in the following link: https://www.lb.lt/en/sfi-financial-market-participants/verse-payments-lithuania-uab   

We are subject to the Law on Electronic Money Institutions of the Republic of Lithuania, which regulates our obligations as an electronic money institution, and to the Law on Payment Services of the Republic of Lithuania, which regulates our activities and our liability in connection with the provision of payment services to our customers, as well as the rights and obligations of those customers.

You may consult these Terms on our website, and you may also request a copy of these Terms via the Verse App at any time. In order to be able to create and organize an Event through the Verse App you must have an Internet connection.

It is important for you to understand how our “Events” feature work (the “Feature”). For this reason, we recommend that you read these Terms carefully so that you can understand which are the requirements and steps that you must fulfill in order to create and organize an Event through the Verse App, what are the applicable rules, as well as your rights and obligations. 

If you’d like more information about how this Feature works, you might find it helpful to read our FAQs. Note that these FAQs don’t form part of these Terms.

2. Parties, Execution and Definitions

A. Parties

The parties to these Terms are: 

  • You, the Host User (as defined below in paragraph C.); and
  • Us, Verse Payments Lithuania UAB.

B. Execution

With effect from you agreeing to these Terms through the Verse App (the “Effective Date”), you accept and agree these Terms, and you agree to be bound by them.

C. Definitions

For the purposes of these Terms:

  • Basic Event”: means the event created by the Host User through the Verse App which is subject to the rules described in sections 5.A. and 5.B. of these Terms.
  • EU/EEA”: has the meaning set forth in section 1 of these Terms.
  • Event”: indistinctly, a Basic Event or Unlimited Event.
  • Events” jointly, the Basic events and Unlimited Events.
  • Event Ticket” means the ticket paid by the Participant to the Host User through the Verse App by way of a Transfer, in order to attend the Event created by the Host User.
  • Feature”: has the meaning set forth in section 1 of these Terms.
  • Host User”: means the User who creates, owns and organizes a Basic Event or Unlimited Event through the Verse App.
  • Location”: the physical address where the Basic Event or Unlimited Event will take place.
  • Participant”: the User who (i) is invited to an Event created by the Host User, and (ii) becomes an attendee to said Event, by paying the Event Ticket to the Host User through the Verse App.
  • Regulated Services”: has the meaning set forth in section 1 of these Terms.
  • Tax Information”: has the meaning set forth in section 12 of these Terms.
  • Taxes”: has the meaning set forth in section 12 of these Terms.
  • Transfer” means the payment transaction conducted by a Participant by which the Participant pays the Event Ticket to the Host User.
  • Unlimited Event”: means the event created by the Host User through the Verse App which is subject to the rules described in sections 5.A. and 5.C. of these Terms.
  • User”: means a Verse customer, holder of a Verse Account, and who resides in a country where Verse is authorized to provide the Regulated Services.
  • Verse Account”: means the payment account opened by the User with Verse.
  • VerseCard Terms”: has the meaning set forth in section 7 of these Terms.
  • Verse Fee”: has the meaning set forth in section 5.C. of these Terms.
  • Verse TOS”: has the meaning set forth in section 7 of these Terms.

Withdrawal Right”: has the meaning set forth in section 16. of these Terms.

3. The feature

The Verse “Events” feature was designed with the purpose to allow our Users to create and organize social events through Verse. Through this feature, Users can centralize the organization of the Event through the Verse App: from the invitations to its friends (i.e. other Users) to the payment of the Event Ticket. 

Participants will be able to attend the Event by paying the Event Ticket to the Host User through the Verse App, by way of a Transfer.

4. How does “Events” works?

You must fulfill the requirements and steps indicated below in order to create and organize an Event through the Verse App:

A. Host User Requirements

Host Users, who are natural persons, must:

  • a. Be a customer of Verse, and holder of a Verse Account.
  • b. Be 18 years of age or above.
  • c. Have passed the identification and customer due diligence controls applied by Verse.
  • d. Be resident in any of the EU/EEA countries where Verse is authorized to provide the Regulated Services.

Host Users, who are legal entities (business accounts) must:

  • a. Be a customer of Verse, and holder of a Verse Account.
  • b. Have passed the identification and customer due diligence controls applied by Verse.
  • c. Be an entity legally incorporated in any of the EU/EEA countries where Verse is authorized to provide the Regulated Services.

B. Steps

You must:

  • a. Access the “Events” section in your Verse App profile.
  • b. Select “add a new Event”
  • c. Complete the relevant Event information that you are asked to provide, for example: 
    • i. Name of the Event
    • ii. Description of the Event
    • iii. Contact info 
    • iv. Location
  • d. Select the type of Event you would like to create: whether Basic or Unlimited 
    • i. Complete the relevant Ticket information that you are asked to provide, for example:Event Ticket amount 
    • ii. Event Ticket type
    • iii. Number of Event Tickets

5. Rules

A. General Rules

The following rules will apply to the Events:

  • EU/EEA Users only. Events are available only to Users who are resident in any of the EU/EEA countries where Verse is authorized to provide the Regulated Services.
  • Host User is responsible for the Event and its organization. The Host User is the creator and organizer of the Event, not Verse. The Host User will be responsible for the Event and the Event’s organization, including all consequences related to said Event and/or organization.

B. Basic Events specific rules

In addition to the rules specified in paragraph A. of this section 5, the following rules will apply to Basic Events:

  • Participants cap. The maximum number of Participants that can attend a Basic Event are 20. 
  • Event Ticket: maximum price cap. The Event Ticket price cannot exceed 15 Euros.
  • No fees. Verse will not charge any fees to the Host User for the creation and organization of a Basic Event.

C. Unlimited Events specific rules

In addition to the rules specified in paragraph A. of this section 5, the following rules will apply to Unlimited Events:

  • No cap on number of Participants. There is no maximum cap or limit on the number of Participants that can attend an Unlimited Event.
  • No cap on Event Ticket price. There is no maximum cap or limit on the Event Ticket price for Unlimited Events.
  • Verse Fee applies. Verse will charge a fee to the Host User for the creation and organization of an Unlimited Event (the “Verse Fee”). The Verse Fee is calculated as a percentage of the price of each Event Ticket sold by the Host User. The percentage applied shall be disclosed and available to the Host User prior to the creation of the relevant Unlimited Event. The total Verse Fee will be based on the number of Event Tickets sold and will be taken from the Host User’s Verse Account directly.  
  • Verse Fee absorption option. The Host User may have the option to absorb the Verse Fee as its own cost or to add the amount of the Verse Fee to the Event Ticket price for the Participant to pay.

6. Summary of Events

You can consult at all times in your Verse App the latest Events you have created. You need to go to the “Events” section in your profile section of your Verse App, and there you will find a summary of your latest Events. 

7. Liability

To the maximum extent permitted by applicable law, in no event Verse shall be liable for any loss or damages arising from:

  • The Host User’s usage of the Feature
  • The creation and organization of Events carried out by the Host User through the Verse App, including but not limited to damages or losses to the Participants or any third party occurred before and during the execution of the Event.
  • The promotion or advertising of the Event conducted by the Host User in (i) its own  or third-party digital channels (e.g. app, website, social media accounts, newsletter), (ii) non-digital channels (whether own channels or third party channels), and (iii) printed media. 
  • Breaches to intellectual property rights of third parties and data protection regulations arising as a result of the creation, organization, and occurrence of the Event. 
  • The Host User’s actions that violate:
  • The prohibition applied to the Host User to make use of the Feature, due to suspension, termination or closure of the Host User’s Verse Account;
  • Other instances as described in the Verse TOS, the VerseCard Terms, and any other agreement between Verse and the Host User which supplements and applies to these Terms.

8. Rights and obligations

1. Your obligations

You are obliged to:

  • Comply with these Terms at all times during your use of the Feature and during the creation and organization of any Event;
  • Comply with the Events Rules established in section 5, the Host User Requirements in section 4, as well as with any other requirements and conditions established in these Terms;
  • Comply with all obligations specified in the Verse TOS and VerseCard Terms which might be applicable to the Events you create through the Verse App, or be otherwise relevant for these Terms.
  • Notify us (via the Verse App or by sending us an email to hello@verse.me) if you change your country residence to another EU/EEA jurisdiction.

2. Our rights

Verse has the right to suspend or cancel the creation and organization of any Events which took place through the Verse App if:

  • Your Verse Account is closed, either by you or us, at any time during your use of the Feature and/or creation and organization of any Event;
  • Bankruptcy proceedings have been started against you; 
  • As a result of the creation and organization of said Event, we suspect that you or Participants have committed fraud on your Verse Account, or in the Verse Account of a Participant or any other Verse User. 
    The foregoing includes the right to freeze or block the Event Ticket amounts that are due to be credited in your Verse Account, when Verse at its sole discretion concludes that there are reasonable and objective grounds that fraud was committed.
  • You notify us that you have changed your country residence to a jurisdiction outside the EU/EEA.

3. Our obligations

We undertake to:

  • Keep the Feature in the Verse App updated and available at all times with (i) your Events information, and (ii) the summary of the latest Events you have created.
  • Credit in your Verse Account the amounts you have received from the Participants for the Event Tickets you sold to them, subject to any applicable Verse Fee.
  • Facilitate you, to the extent available in the Verse App, with any additional functionalities related to the Event’s creation (e.g., Event Ticket types, generation of QR codes)

9. Term

These Terms are for an indefinite term. It means that they will apply until you or us terminate them.

You can terminate these Terms at any time by sending us a written notice to our hello@verse.me email or by contacting our Customer Service team through the Verse App. 

In the termination notice you must include the following data: your first and last name, date of birth, national identification number or passport number, and address. Termination will take effect on the date on which we receive your termination notice. Important: You will still be obligated to pay Verse any Verse Fees which are unpaid or due prior to the date in which you terminate these Terms, or which become due thereafter.  

Verse is entitled at all times to unilaterally terminate these Terms, at its sole discretion, with 14 natural days’ prior written notice to the User. 

We are also entitled to terminate these Terms with immediate effect, subject to a 1 natural day prior notice, and to suspend your use of the Feature:

  • If your Verse Account is closed, either by you or us, at any time during your use of the Feature or the creation or organization of an Event through the Verse App;
  • If bankruptcy proceedings have been started against you; 
  • As a result of the creation and organization of said Event, we suspect that you or Participants have committed fraud on your Verse Account, or in the Verse Account of a Participant or any other Verse User.
  • Your use of the Feature (including the creation and organization of Events) violates applicable laws, including, but not limited to, payment regulations, anti-money laundering laws, etc.).
  • If we suspect or have justified reasons that your use of the Feature (including the creation and organization of Events) violates applicable laws.
  • If you are in breach of your obligations under these Terms.
  • If our supervisory authorities require us to do so.
  • If you have changed your country residence to a jurisdiction outside the EU/EEA.

10. Disclaimers

Verse does not guarantee that the Feature and/or the Events you have created will be available at all times. If due to technical reasons or connection failures either on our end, or on the part of a third party, the Feature and/or the Events you have created are not available, we will let you know as soon as possible.

11. Changes to these Terms

We will inform you of any changes to these Terms by email or via the Verse App 5 days prior to the date in which those changes will take effect. 

If any of these changes requires, under applicable law, a specific prior notice term (e.g. one  or two months), we will notify within the term required under applicable law, and we will indicate to you the date in which those changes will take effect. You will be deemed to have given your consent to the notified changes if you have not notified us in writing (by email and/or via the Verse App) that you reject the changes, prior to the date on which those changes will enter into force. You will be entitled to unilaterally terminate these Terms without prior notice, even before the date on which the aforesaid changes are to enter into force. Your rejection of the changes will not release you from liability for your obligations until such date.

 

12. Tax

For the purposes of these Terms, “Taxes” include any and all present or future taxes, charges, fees, levies or other assessments, including, without limitation, income, value-added, gross receipts, excise, real or personal property, sales, withholding, social security, occupation, use, severance, environmental, licence, net worth, payroll, employment, franchise, transfer and recording taxes, fees and charges, imposed by any domestic or foreign taxing authority (“Taxes”).

The Verse Fee is inclusive of any Taxes. You are responsible and liable for determining any and all Taxes, including any VAT, required to be assessed, incurred, collected, paid or withheld for your use of the Feature. You also are responsible and liable for (a) determining whether Taxes, including any VAT, apply to your activities as a Host User, (b) determining any payments received, and any other transactions arising from or out of your use of the Feature, and (c) calculating, collecting, reporting or remitting any Taxes, including any VAT, to the appropriate tax and revenue authorities. Verse specifically disclaims any liability for such Taxes.

Notwithstanding the foregoing, we may charge Taxes which you agree to pay, including any VAT, as required by law, unless you provide us with timely appropriate, complete, and accurate information and documentation satisfying the legal and tax requirements of the relevant governmental or tax authority to establish that the otherwise applicable VAT is not required to be charged by us.
We may be obligated under applicable laws to report certain information to tax and revenue authorities (“Tax Information”) and/or you with respect to your use of the Feature (including the creation and organization of Events). Upon request, you shall provide Verse with the necessary information to complete any applicable Tax Information reporting and recertify such information from time to time, as may be required by applicable law. If you use the Feature, you acknowledge that we will report to the applicable tax and revenue authorities the required Tax Information (including the total amount of payments you received during the relevant reporting period). We also may, but are not obligated to, send to you the Tax Information reported by us.

13. Personal Data

We will process your personal data in accordance with applicable regulations and our Privacy Policy.

Our Privacy Policy. If you seek more information about how we process your personal data, please review the Verse Privacy Policy, available in your Verse App, and in our website on following link: https://verse.me/en/privacy/.

14. Applicable Law & Jurisdiction 

These Terms and Conditions will be governed by the laws of the Republic of Lithuania. 

The Parties expressly submit the resolution of any dispute or conflict arising in connection with the validity, application, performance or interpretation of these Terms to the jurisdiction of the courts and tribunals of the city of Vilnius, Republic of Lithuania, to the extent permitted by applicable law.

15. Supplementary agreements

The Verse TOS, the VerseCard Terms, the Verse’s Privacy Policy, and other terms and conditions applicable to our Regulated Services and features, shall supplement and apply, where applicable, to these Terms.

16. Withdrawal Right

You are entitled to terminate these Terms within fourteen (14) calendar days counted as of the Effective Date, without having to give a reason and without any penalty whatsoever (the “Withdrawal Right”). Note: You will still be obligated to pay anyVerse Fees which become due within fourteen (14) calendar days of the Effective Date of these Terms.  

In order to exercise your Withdrawal Right, you will need to notify us via the Verse App or by sending an email to hello@verse.me, before the end of the 14 day period above mentioned.

If you do not exercise your Withdrawal Right within the 14 day period above mentioned, it will be deemed that you have agreed to maintain these Terms until its expiration or termination date. 

17. Contact Us

Notwithstanding any legal action to which you may be entitled, if you have any inquiry in connection to (i) your use of the Feature and/or the creation and organization of any Event, (ii) a claim or complaint in relation to the interpretation, application, fulfillment and performance of these Terms, you can send us your inquiry, complaint, or notice via the Verse App or by email to: hello@verse.me, including your: first and last name, national identification number or passport number, signature, address, and the reason for the inquiry, complaint or notice. 

We will make our best efforts to resolve your inquiry, complaint or claim as soon as possible. In exceptional situations, if a prompt answer cannot take place on our end for reasons beyond our control, we will send a provisional answer stating the reasons for the delay and specifying the period within which the definitive answer will be received. 

Any claims by the Users filed pursuant to this section will be excluded from the liability applicable to these Terms if the circumstances giving rise to the claim:

  • are based on an abnormal or unforeseeable event beyond Verse’s control and its consequences, even where due care has been taken, could not have been avoided by Verse, or 
  • were caused by Verse by virtue of a statutory obligation.