Customer Vulnerability

1. Business-to-Business Services Only

Vonix provides its services on a business-to-business (B2B) basis only, unless expressly agreed otherwise in writing. Our services are intended for businesses, merchants, platforms, financial operators, and institutional or commercial clients, and are not designed as direct consumer financial services unless specifically stated.

The customer remains solely responsible for its own business activities, products, services, marketing, contractual arrangements, customer onboarding, customer due diligence, ongoing compliance, and interactions with its own end users, merchants, sub-merchants, users, account holders, or counterparties.

2. High-Risk Business Model Acknowledgement

The customer acknowledges that Vonix may support or provide solutions to businesses operating in sectors, jurisdictions, geographies, or commercial models that may be classified by financial institutions, card schemes, payment processors, banking partners, regulators, or service providers as higher-risk.

Such classification may result in enhanced due diligence, additional monitoring, rolling reserves, delayed settlements, account limitations, higher fees, rejected applications, restricted functionality, service suspension, or termination by Vonix or by any third-party provider connected to the services.

Vonix does not guarantee that any customer, transaction flow, jurisdiction, business model, or end-user segment will be accepted, maintained, or supported on an ongoing basis.

3. No Responsibility for Customer’s End Users or B2B Clients

Vonix is not responsible for the acts, omissions, misconduct, fraud, misrepresentation, abusive practices, chargebacks, complaints, disputes, non-delivery, non-performance, unlawful conduct, regulatory violations, or reputational events caused by the customer, the customer’s end users, merchants, sub-merchants, affiliates, partners, or any other third parties engaged by the customer.

Where the customer operates as a platform, intermediary, software provider, payment facilitator, agent, program manager, reseller, or service distributor, the customer is solely responsible for:

• the conduct of its own clients and users;
• ensuring that its own clients and users comply with all applicable laws and regulations;
• monitoring business activity conducted through its infrastructure;
• handling complaints, refunds, disputes, consumer protection obligations, and remediation;
• implementing adequate fraud prevention, KYC/KYB, AML, sanctions screening, transaction monitoring, and internal controls where required.

Vonix shall have no liability for losses arising from the business conduct of the customer or the customer’s own clients.

4. Vulnerable Customers and End-User Protection

If the customer serves, targets, acquires, or interacts with individuals or entities that may be considered vulnerable, including persons with limited financial sophistication, reduced capacity, distress, dependency, digital vulnerability, or other conditions requiring enhanced care, the customer is solely responsible for implementing appropriate protections, disclosures, suitability controls, support channels, and escalation procedures.

Vonix does not assume responsibility for assessing the vulnerability, suitability, capacity, affordability, or appropriateness of the customer’s products or services for the customer’s own end users, unless expressly agreed in writing.

The customer must ensure that its commercial practices, customer support, disclosures, risk warnings, complaint handling, and marketing communications are fair, lawful, accurate, and appropriate for the relevant audience.

5. No Guarantee or Warranty

To the fullest extent permitted by applicable law, Vonix provides its services “as is” and “as available” without guarantees, representations, or warranties of any kind, whether express, implied, statutory, or otherwise.

In particular, Vonix does not warrant that:

• the services will be uninterrupted, error-free, always available, or free from delays;
• any application, onboarding, merchant approval, account opening, card program, payment flow, custody solution, or crypto-related service will be approved or maintained;
• any third-party provider will continue to support the customer’s business model;
• the services will meet the customer’s specific commercial, legal, regulatory, operational, or risk-management needs;
• transactions will always be processed, settled, executed, cleared, or completed;
• fraud, chargebacks, abuse, cyber incidents, sanctions issues, or compliance failures will be prevented.

Any timelines, onboarding expectations, service scope descriptions, or commercial estimates are indicative only and do not constitute a warranty or guarantee.

6. Third-Party Providers and Dependencies

Many Vonix services rely on third-party partners, including but not limited to banking partners, EMI institutions, custodians, card issuers, BIN sponsors, payment processors, compliance providers, liquidity providers, crypto infrastructure providers, KYC/KYB vendors, fraud tools, and regulated institutions.

The customer acknowledges that access to certain services may depend on the policies, approvals, technical availability, commercial decisions, jurisdictional restrictions, and risk appetite of such third parties.

Vonix is not liable for any refusal, delay, limitation, freezing, suspension, enhanced review, reserve requirement, transaction rejection, account closure, or service withdrawal imposed by any third-party provider.

7. Customer Compliance Responsibility

The customer is solely responsible for ensuring that its business, operations, products, content, marketing, jurisdictions, transaction flows, customer base, and use of the services comply with all applicable:

• anti-money laundering laws;
• counter-terrorist financing laws;
• sanctions and export control rules;
• anti-bribery and anti-corruption laws;
• consumer protection rules;
• licensing and registration requirements;
• data protection and privacy laws;
• card scheme rules;
• financial promotions and advertising rules;
• crypto and virtual asset regulations;
• local laws applicable to its industry and end users.

Use of Vonix’s services does not constitute regulatory approval, licensing coverage, legal advice, or compliance certification for the customer’s business.

8. Fraud, Abuse, and Prohibited Activity

The customer shall not use, and shall not permit any third party to use, the services for unlawful, deceptive, abusive, fraudulent, misleading, exploitative, prohibited, or non-compliant activity.

Vonix reserves the right, at its sole discretion and without liability, to:

• request additional information or documents;
• conduct enhanced due diligence;
• monitor account and transaction activity;
• delay, reject, reverse, or block transactions where legally permitted;
• impose limits, reserves, or operational controls;
• suspend or terminate access to the services;
• report suspicious or unlawful activity to relevant providers, financial institutions, regulators, or authorities where required or permitted.

9. Customer Assumes Commercial and Regulatory Risk

The customer understands and accepts that operating in payments, embedded finance, card issuance, IBAN/account services, custody services, digital assets, crypto on-ramp/off-ramp, or other regulated or high-risk industries involves substantial commercial, operational, regulatory, legal, and reputational risks.

These risks may include:

• fraud and cybercrime;
• chargebacks and transaction disputes;
• account freezes or reviews;
• enhanced due diligence requests;
• delayed settlements or reserves;
• changes in law or regulation;
• third-party offboarding;
• sanctions exposure;
• customer complaints and remediation costs;
• data breaches or operational failures;
• cross-border restrictions;
• licensing or authorization issues.

The customer assumes full responsibility for evaluating and accepting these risks in connection with its business model.

10. Limitation of Liability

To the maximum extent permitted by law, Vonix shall not be liable for any indirect, incidental, consequential, special, punitive, or exemplary damages, including loss of profits, revenue, business, goodwill, data, opportunity, clients, contracts, or anticipated savings, arising out of or in connection with:

• the customer’s business operations;
• the acts or omissions of the customer’s end users or clients;
• fraud, abuse, scams, or misconduct by third parties;
• service interruptions or technical failures;
• regulatory actions or investigations affecting the customer;
• decisions or actions of third-party providers;
• refusal, blocking, reversal, suspension, reserve imposition, or termination of services;
• customer non-compliance with law or provider rules.

Nothing in this section excludes liability that cannot legally be excluded under applicable law.

11. Indemnity

The customer agrees to defend, indemnify, and hold harmless Vonix, its affiliates, directors, officers, employees, contractors, partners, and service providers from and against any claims, liabilities, damages, losses, penalties, fines, costs, and expenses (including reasonable legal fees) arising from or related to:

• the customer’s breach of these terms;
• the customer’s business activities or business model;
• the acts or omissions of the customer’s end users, merchants, sub-merchants, or partners;
• any fraud, misrepresentation, unlawful activity, or regulatory breach connected to the customer;
• complaints, disputes, refunds, chargebacks, investigations, enforcement actions, or third-party claims caused by the customer’s conduct or that of its clients.

12. No Fiduciary Relationship

Nothing in Vonix’s services creates any fiduciary, advisory, trustee, agency, partnership, or joint venture relationship between Vonix and the customer, unless expressly agreed in writing.

Vonix does not act as the customer’s legal adviser, compliance officer, financial adviser, regulated representative, or risk guarantor.

13. Customer’s Duty to Provide Accurate Information

The customer must provide complete, accurate, and up-to-date information at all times, including ownership information, licensing status, business activities, target markets, jurisdictions, transaction types, expected volumes, websites, policies, and supporting documents.

Any omission, misrepresentation, concealment, or inaccurate statement may result in rejection, suspension, termination, reporting, or other protective action.

14. Right to Refuse or Terminate

Vonix reserves the right to refuse onboarding, decline any request, restrict use, suspend access, or terminate services at any time where, in its reasonable opinion, the customer presents legal, regulatory, fraud, operational, reputational, or commercial risk, or where continued service is no longer feasible through Vonix or its partners.

15. Independent Legal and Compliance Advice

The customer is strongly advised to obtain its own independent legal, regulatory, tax, and compliance advice before launching, marketing, or operating any financial, payment, card, crypto, custody, or cross-border service using Vonix’s solutions.

Vonix does not guarantee that the customer’s use of the services is lawful or suitable in any specific jurisdiction or for any specific activity.

16. Contact

If you have any questions about these Customer Vulnerability, please contact:

Vonix
Website: getvonix.com
Email: support@getvonix.com

‍