Terms of Service

Last updated: January 9, 2026

The Virtual EPS Website Terms and Conditions (the “Terms”) govern access to and use of the Virtual EPS website and related services (the “Website”) by merchants, customers, and other visitors (collectively, “Users”).

The Website provides technological tools that enable merchants to generate Payment Links and connect with third-party payment service providers in order to facilitate payments between merchants and their customers. Virtual EPS does not provide payment services, banking services, or financial services and does not hold or process customer funds.

These Terms constitute a legal agreement between you or the entity you represent (“User”) and M.M. VIRTUAL INFORMATION COMMUNICATION TECHNOLOGY LIMITED, trading under the brand name Virtual EPS (“Virtual EPS”, “Company”, “we”, or “us”). By accessing or using the Website, the User agrees to be bound by these Terms.

For merchants, acceptance of these Terms is subject to and/or requires acceptance of the Virtual EPS Services Agreement (the “Services Agreement”), which governs the use of the Virtual EPS platform, technology, and services (the “Services”). By accepting these Terms, a merchant expressly acknowledges that it has read, understood, and agrees to be bound by the Services Agreement, including all fees, obligations, and legal provisions set forth therein.

These Terms apply to all Users of the Website, including:

(a) Merchants – business users who maintain a Virtual EPS account and access the Website in connection with the Services; and

(b) Customers – individuals or entities who use the Website to initiate payments to Merchants through third-party payment processors, including end users of merchant goods or services, who do not create accounts with Virtual EPS.

By accessing or using the Website, each User represents and warrants that:

(i) it has the legal capacity and full authority to enter into and comply with this agreement;

(ii) if a natural person, it is at least eighteen (18) years of age, or the age of majority in its jurisdiction, whichever is higher; and

(iii) it will comply with all applicable laws, rules, and regulations in connection with its use of the Website.

These Terms become effective on the date the User first accesses or uses the Website (the “Effective Date”) and remain in effect until terminated in accordance with these Terms.

Additional Terms That May Apply

These Terms of Service incorporate by reference, and are supplemented by, additional policies, agreements, and documents made available by Virtual EPS on the Website, including without limitation: Privacy Policy · Data Processing Addendum · Sub-processors · Services Agreement · Restricted Businesses List

Each Additional Policy, as published or made available on the Website from time to time, is incorporated into these Terms by reference and forms part of the agreement between the User and Virtual EPS.

Each such document, as updated or amended from time to time and made available on the Website, shall collectively be referred to as the “Additional Policies.”

In the event of any conflict between these Terms and any Additional Policy, the applicable Additional Policy shall prevail solely to the extent of such conflict; provided that, with respect to Merchants and the use of the Services, the Services Agreement shall prevail over all other documents.

1. Acceptance & Scope of Terms

1.1 Acceptance of Terms

(a) By accessing or using the Website, each User acknowledges that it has read, understood, and agrees to be bound by these Terms. If a User does not agree to these Terms, it must immediately cease accessing or using the Website.

(b) Merchants expressly acknowledge and agree that:

(i) acceptance of these Terms and access and use of the Website is subject to the acceptance of the Virtual EPS Services Agreement in its entirety;

(ii) the Services Agreement governs all obligations, fees, rights, and restrictions; and

(iii) any failure to comply with these Terms or the Services Agreement may result in suspension or termination of the Merchant’s account and access to the Website and Services, in addition to any other remedies available to Virtual EPS under law, equity, or the Services Agreement.

(c) Customers acknowledge and agree that, by using the Website to make payments through third-party providers or interact with Merchants, they agree to these Terms, including all applicable Additional Policies, instructions, and provisions relating to transactions, privacy, and use of the Website.

1.2 Scope of Terms

(a) These Terms govern the access, use, and conduct of all Users while interacting with the Website, including, but not limited to, browsing, generating Payment Links, and any related services or platform functionality made available by Virtual EPS.

(b) For Merchants, these Terms operate in conjunction with the Services Agreement. In the event of any conflict between these Terms and the Services Agreement, the Services Agreement shall prevail solely with respect to the Merchant’s use of the Services.

(c) Customers acknowledge and agree that these Terms exclusively govern their access and use of the Website in connection with payments made to Merchants and related interactions with Merchants. Virtual EPS is not a party to any agreement between a Customer and a Merchant and is not responsible for the goods or services provided by Merchants or any disputes arising between Customers and Merchants.

(d) Virtual EPS may modify or update these Terms at any time by posting revised Terms on the Website or providing notice to Users. Continued access to or use of the Website after posting of any modified Terms or notification constitutes acceptance of those modifications. Users are responsible for regularly reviewing the Terms for updates. The modifications take effect once posted on the Website regardless of notice.

2. Use of the Website

(a) Users may access and use the Website solely for lawful purposes and in accordance with these Terms. Any unauthorized or prohibited use of the Website, including but not limited to illegal, fraudulent, or abusive activity, is strictly prohibited.

(b) Merchants shall use the Website only for purposes permitted under the Services Agreement and in connection with their lawful business activities. Merchants must ensure that all information provided to Virtual EPS is accurate, complete, and up to date at all times.

Merchants are solely responsible for ensuring that their goods, services, and business activities comply with all applicable laws, the rules and requirements of any payment processors used by the Merchant, all applicable card network or card scheme rules (including those of Visa, Mastercard, or other applicable networks), and the Virtual EPS Restricted Businesses Policy.

(c) Customers shall use the Website solely to complete payments to Merchants through third-party payment processors and interact with Merchants in accordance with these Terms. Customers are prohibited from using the Website in any manner that could interfere with its proper functioning or the experience of other Users.

(d) Users shall not, and shall not attempt to:

(i) gain unauthorized access to any part of the Website, systems, networks, or Services;

(ii) interfere with or disrupt the operation of the Website or Services, including uploading or transmitting viruses, malware, or other harmful code;

(iii) reproduce, duplicate, copy, sell, resell, or exploit any portion of the Website or Services without express written permission from Virtual EPS; or

(iv) circumvent or attempt to circumvent any security, access control, or usage restrictions implemented on the Website.

(v) reverse engineer, decompile, disassemble, attempt to derive the source code of, or otherwise attempt to discover the underlying structure, ideas, or algorithms of the Website, Services, or any related software or technology, except to the extent such restriction is prohibited by applicable law.

(e) Virtual EPS reserves the right, at its sole discretion, to monitor use of the Website, investigate violations of these Terms, and take any action it deems necessary to protect the Website, Users, and the integrity of the Services, including suspending or terminating access for violations.

(f) Users acknowledge and agree that Virtual EPS may impose limits on the use of certain Website features or functionalities, including but not limited to limits relating to Payment Links or integrations with third-party payment processors, and may update or modify such limits at any time.

3. Payments, Fees & Taxes

3.1 Payments

(a) Customers may use the Website to access payment links generated by Merchants in order to complete payments for goods or services offered by Merchants through third-party payment processors. By doing so, Customers acknowledge and agree that:

(i) Virtual EPS provides technology that enables Merchants to generate payment links and connect with third-party payment processors and is solely a platform enabling the Customer to interact with Merchants. Virtual EPS is not a payment processor, payment service provider, acquirer, money transmitter, or financial institution;

(ii) Virtual EPS does not process, authorize, receive, settle payments, or hold payment funds, and all payments are executed directly between the Customer and the Merchant, and processed directly by the relevant third-party payment processor in accordance with the Merchant’s payment arrangements; and

(iii) Virtual EPS is not responsible for any errors, delays, security incidents, or failures relating to payment processing performed by third-party payment processors, and Virtual EPS has no liability for any disputes arising between Customers and Merchants relating to transactions.

(b) Merchants remain fully and solely responsible for the accuracy, legality, and fulfillment of all payment requests, invoices, pricing information, goods or services, refunds, chargebacks, and transactions presented to Customers through the Website.

(c) Virtual EPS may provide technical tools, integrations, links, or technical interfaces that enable Merchants and Customers to connect with third-party payment processors. Virtual EPS does not control or operate such payment services and makes no representations or warranties regarding the availability, security, or performance of any third-party payment processor and their third-party services.

(d) Merchants are solely responsible for establishing and maintaining their relationships with third-party payment processors and for complying with all applicable payment processor requirements, card network rules, and financial regulations.

3.2 Fees

(a) Merchants agree to pay Virtual EPS fees for the use of the Website and related Services in accordance with the fees set forth in the Services Agreement. All such fees are non-cancelable and non-refundable except as otherwise expressly provided in the Services Agreement.

(b) Virtual EPS reserves the right to update, revise, or introduce new fees. Notice of such changes will be provided in accordance with the Services Agreement, and continued use of the Website constitutes acceptance of any updated fees. Any updated fees will apply only to future transactions following notice to the Merchant.

3.3 Taxes

(a) All fees payable to Virtual EPS are exclusive of any applicable taxes, levies, duties, or similar governmental charges (“Taxes”).

(b) Merchants are solely responsible for determining, collecting, reporting, and remitting all Taxes associated with their use of the Website or the provision of goods and services to Customers, in accordance with applicable law.

(c) If applicable law requires Virtual EPS to collect or report any Taxes relating to fees charged by Virtual EPS, Virtual EPS may include such Taxes in invoices or reports and remit them to the relevant authorities. Merchants must provide accurate tax information to Virtual EPS and promptly notify Virtual EPS of any updates or corrections.

4. Privacy & Data Use

4.1 Collection of Information

(a) Virtual EPS collects and stores information provided by Users, including personal and transactional information, solely for the purpose of operating the Website, enabling interactions between Customers and Merchants in connection with payments processed by third-party payment processors, and for improving the Website and Services. Virtual EPS does not collect, store, or process payment card numbers, security codes, or other sensitive payment credentials. Such information is processed directly by the relevant third-party payment processors.

(b) Merchants acknowledge that Virtual EPS may collect information about their business, accounts, and interactions with Customers. Customers acknowledge that Virtual EPS may collect information related to their use of the Website, including payment-related activity carried out through third-party payment processors, communication preferences, and technical metadata.

(c) Virtual EPS may also collect non-identifiable, aggregated, or anonymized data for analytics, reporting, and service improvement purposes. Such data cannot be used to personally identify Users.

(d) For the processing of personal data relating to Customers, Virtual EPS generally acts as a data processor on behalf of the Merchant, except where Virtual EPS determines the purposes and means of processing independently, in which case Virtual EPS acts as an independent controller. Further details are set out in the Virtual EPS Data Processing Addendum and Privacy Policy.

4.2 Use of Information

(a) Virtual EPS uses User information solely to provide, maintain, and enhance the Website and related Services, support interactions between Customers and Merchants in connection with payments processed through third-party payment processors, and comply with legal obligations.

(b) Virtual EPS may use Merchant data to:

(i) generate reports and statements related to completed transactions or Service usage;

(ii) communicate important information regarding their account, the Website, or Services; and

(iii) monitor and maintain security, prevent fraud, and comply with legal obligations; and

(iv) enforce compliance with these Terms.

(i) facilitate interactions with Merchants via the Website;

(ii) provide communications regarding the Website or Services; and

(iii) monitor and maintain security, prevent fraud, and comply with legal obligations.

4.3 Disclosure of Information

(a) Virtual EPS does not sell or rent User information to third parties.

(b) Virtual EPS may disclose User information to:

(i) service providers, infrastructure providers, subprocessors, partners, or contractors who assist in providing the Website or Services;

(ii) comply with applicable law, regulations, or legal process;

(iii) protect the rights, property, or safety of Virtual EPS, its Users, or the public; and

(iv) enforce compliance with these Terms.

(c) Merchants are solely responsible for the collection and use of Customer personal data in connection with their goods or services and for providing any required privacy notices to Customers. Virtual EPS does not control the relationship between Merchants and Customers and processes personal data only to the extent necessary to operate the Website and provide the Services.

4.4 Security

(a) Virtual EPS employs administrative, technical, and physical measures designed to safeguard User information.

(b) Despite these measures, Virtual EPS cannot guarantee absolute security of data transmitted via the Website or stored on its systems. Users acknowledge and accept the inherent risks associated with data transmission and storage.

4.5 Retention

(a) Virtual EPS retains User information only as long as necessary to complete transactions, provide the Website and Services, comply with legal obligations, resolve disputes, and enforce agreements.

(b) Upon request, and subject to applicable law and contractual obligations, Virtual EPS may delete or anonymize User information in accordance with applicable law and internal retention policies.

5. Intellectual Property

5.1 Ownership

(a) All content, software, technology, designs, trademarks, logos, graphics, text, and materials on the Website (“Website Content”) are the exclusive property of Virtual EPS or its licensors and are protected by intellectual property laws, including but not limited to copyright, trademark, and trade secret laws.

(b) Users acknowledge that the Services, including any related software, platform, systems, documentation, or tools provided by Virtual EPS, are the intellectual property of Virtual EPS and/or its licensors. No rights or licenses are granted except as expressly set forth in these Terms.

5.2 Limited License

(a) Subject to these Terms, Virtual EPS grants Users a limited, non-exclusive, non-transferable, revocable license to access and use the Website for the purposes expressly permitted herein.

(b) Merchants are granted a limited right to use the Website and related Services solely to access platform tools, use platform functionalities, and generate payment links for goods or services supplied to Customers.

(c) Customers are granted a limited right to use the Website solely for interacting with Merchants, completing payments to Merchants through third-party payment processors, and accessing related transaction information.

5.3 Restrictions

(a) Users shall not:

(i) copy, modify, distribute, sell, lease, or create derivative works from Website Content, Services, or technology;

(ii) reverse engineer, decompile, or attempt to extract source code from any software, applications, or tools provided by Virtual EPS;

(iii) remove or alter any copyright, trademark, or proprietary notices; or

(iv) use the Website or Services in any manner that infringes or misappropriates the intellectual property rights of Virtual EPS or any third party.

(v) access or use the Website through automated means, including bots, scrapers, or similar technologies, except as expressly authorized by Virtual EPS.

(vi) introduce any viruses, Trojan horses, worms, or other malicious code into Virtual EPS systems.

5.4 Feedback

(a) Any suggestions, feedback, or ideas provided by Users regarding the Website or Services (“Feedback”) are voluntarily submitted.

(b) By submitting Feedback, Users grant Virtual EPS a worldwide, perpetual, irrevocable, royalty-free, fully transferable license to use, modify, and incorporate such Feedback into the Website or Services without restriction or obligation to the User.

5.5 Reservation of Rights

(a) All rights not expressly granted to Users under these Terms are reserved by Virtual EPS.

(b) Nothing in these Terms shall confer on Users any ownership rights, title, or interest in the Website, Services, or any intellectual property of Virtual EPS or its licensors.

6. Disclaimers & Liability

6.1 No Warranty

(a) The Website and all related content, materials, and services are provided on an “as is” and “as available” basis, without any warranties of any kind, whether express, implied, statutory, or otherwise, including but not limited to warranties of merchantability, fitness for a particular purpose, accuracy, completeness, or non-infringement, to the maximum extent permitted by law.

(b) Virtual EPS does not warrant that the Website will be uninterrupted, error-free, secure, or free of viruses or other harmful components.

6.2 Limitation of Liability

(a) To the maximum extent permitted by applicable law, Virtual EPS, its affiliates, directors, officers, employees, and agents shall not be liable for any indirect, incidental, consequential, special, punitive, or exemplary damages, including but not limited to lost profits, loss of data, or loss of goodwill, arising out of or in connection with:

(i) access to or use of the Website;

(ii) any transaction between Customers and Merchants;

(iii) any errors, omissions, interruptions, or delays in the Website or Services; or

(iv) any content or materials posted by Users or third parties.

(v) the acts, omissions, failures, or security incidents of third-party payment processors or other third-party service providers.

(b) Notwithstanding the foregoing, Virtual EPS’s total aggregate liability under or relating to these Terms shall not exceed the total fees paid by the Merchant to Virtual EPS during the twelve (12) months preceding the event giving rise to the claim.

6.3 Third-Party Interactions

(a) Virtual EPS is not responsible for the actions, omissions, or conduct of Merchants, Customers, payment processors, or other third parties. Any agreements or disputes between Users must be resolved directly between the parties involved.

(b) Virtual EPS does not endorse, guarantee, or assume responsibility for any goods or services offered by Merchants through the Website.

7. Indemnification

7.1 Merchant Indemnification

(a) Merchants shall defend, indemnify, and hold harmless Virtual EPS, its affiliates, directors, officers, employees, and agents from and against any and all claims, demands, losses, liabilities, damages, costs, and expenses (including reasonable attorneys’ fees) arising out of or relating to:

(i) any breach by the Merchant of these Terms or the Services Agreement;

(ii) any transaction, interaction, or dispute with Customers or third parties;

(iii) any violation of applicable laws, rules, or regulations in connection with the Merchant’s use of the Website or Services;

(iv) any content, materials, or information provided by the Merchant through the Website.

(v) the Merchant’s violation of payment processor requirements, card network rules, or financial regulations.

7.2 Customer Indemnification

(a) Customers shall defend, indemnify, and hold harmless Virtual EPS, its affiliates, directors, officers, employees, and agents from and against any and all claims, demands, losses, liabilities, damages, costs, and expenses (including reasonable attorneys’ fees) arising out of or relating to:

(i) any breach by the Customer of these Terms;

(ii) any misuse of the Website or Services; or

(iii) any violation of applicable laws, rules, or regulations in connection with the Customer’s use of the Website.

7.3 Procedure

(a) A party seeking indemnification under this Section (the “Indemnified Party”) shall promptly notify the other party (the “Indemnifying Party”) of any claim, action, or demand for which indemnification is sought.

(b) The Indemnifying Party shall have the right to assume control of the defense and settlement of such claim, provided that the Indemnified Party may participate in such defense at its own expense.

(c) The Indemnifying Party shall not settle any claim in a manner that imposes any liability or obligation on the Indemnified Party without the Indemnified Party’s prior written consent, which shall not be unreasonably withheld.

8. Termination / Suspension

8.1 Termination by Virtual EPS

(a) Virtual EPS may, at its sole discretion, suspend or terminate a User’s access to the Website, in whole or in part, immediately and without prior notice, if:

(i) the User breaches any provision of these Terms or the Services Agreement (for Merchants);

(ii) Virtual EPS reasonably believes that the User’s conduct may expose Virtual EPS, its affiliates, or third parties to legal liability or harm;

(iii) the User engages in fraudulent, unlawful, or unauthorized activity on or through the Website; or

(iv) Virtual EPS determines that termination or suspension is necessary for operational, security, or regulatory reasons; or

(v) any regulatory authority, or applicable law requires Virtual EPS to suspend or terminate the User’s access.

(b) Termination or suspension under this Section does not relieve the User of any obligations accrued prior to termination, including payment obligations, indemnification, or other liabilities.

8.2 Termination by User

(a) Users may terminate their use of the Website at any time by ceasing all access and use.

(b) For Merchants, termination of the Website access does not automatically terminate the Services Agreement, and all obligations under the Services Agreement remain in effect unless explicitly released in writing by Virtual EPS.

8.3 Effect of Termination

(a) Upon termination or suspension, Users must immediately cease using the Website and Services.

(b) Virtual EPS may, at its discretion, delete or retain User content, account information, and transaction data as required by applicable law, regulatory obligations, or Virtual EPS retention policies.

(c) Any provision of these Terms which, by its nature, is intended to survive termination, including but not limited to Sections 3 (Payments, Fees & Taxes), 4 (Privacy & Data Use), 5 (Intellectual Property), 6 (Disclaimers & Liability), 7 (Indemnification), and 9 (General Provisions), shall continue in full force and effect following termination or suspension.

9. General Provisions

9.1 Governing Law and Jurisdiction

(a) These Terms and any disputes arising from or related to the access or use of the Website shall be governed by and construed in accordance with the laws of the Republic of Cyprus, without regard to its conflict of law principles.

(b) Any legal action, claim, or proceeding arising under or in connection with these Terms shall be brought exclusively in the courts of Cyprus, and each User consents to the personal jurisdiction of such courts, except where mandatory consumer protection laws require otherwise.

9.2 Notices

(a) Any notices or communications required or permitted under these Terms shall be in writing and delivered via email, through the Website, or by other means reasonably designed to ensure receipt.

(b) Notices to Virtual EPS should be sent to the contact information provided on the Website. Notices are deemed received upon transmission or delivery, as applicable.

9.3 Entire Agreement

(a) These Terms, together with the Services Agreement (for Merchants) and any Additional Policies incorporated by reference, constitute the entire agreement between the User and Virtual EPS with respect to the subject matter herein and supersede all prior agreements, communications, or understandings, whether written or oral.

9.4 Severability

(a) If any provision of these Terms is found to be invalid, illegal, or unenforceable in any jurisdiction, such provision shall be limited or eliminated to the minimum extent necessary, and the remaining provisions shall remain in full force and effect.

9.5 Waiver

(a) Failure by Virtual EPS to enforce any provision of these Terms shall not constitute a waiver of its rights or remedies. Any waiver must be in writing and signed by an authorized representative of Virtual EPS.

9.6 Assignment

(a) Users may not assign or transfer their rights or obligations under these Terms without the prior written consent of Virtual EPS. Virtual EPS may assign or transfer its rights and obligations without restriction.

9.7 Force Majeure

(a) Virtual EPS shall not be liable for any delay or failure to perform its obligations under these Terms due to causes beyond its reasonable control, including but not limited to acts of God, natural disasters, government actions, labor disputes, cyber incidents or failures of hosting infrastructure, or interruptions in internet or telecommunications services.

9.8 No Third-Party Beneficiaries

(a) Except as expressly stated in these Terms, these Terms are intended for the benefit of the parties hereto and shall not create any rights in third parties.

10. Definitions

For the purposes of these Terms, the following terms shall have the meanings set forth below, unless the context otherwise requires:

“Account” means the account created by a Merchant with Virtual EPS to access and use the Website and the Services.

“Additional Policies” means the policies, agreements, and documents incorporated into these Terms by reference pursuant to the section titled “Additional Terms That May Apply,” as such documents may be updated or amended from time to time and posted on the Website.

“Customer” means an individual or entity that uses the Website to make payments through third-party payment processors or interact with Merchants, but who does not maintain an Account with Virtual EPS.

“Effective Date” means the date on which a User first accesses or uses the Website.

“Fees” means any charges, payments, or amounts payable by a Merchant to Virtual EPS as set forth in the Services Agreement or as otherwise communicated by Virtual EPS.

“Payment Link” means a unique URL generated through the Website that enables a Customer to initiate a payment to a Merchant through a third-party payment processor.

“Services” means the Virtual EPS platform, technology, tools, or other services made available to Merchants through the Website, as described in the Services Agreement.

“Services Agreement” means the agreement entered into between a Merchant and Virtual EPS governing the use of the Services, including all fees, obligations, and legal provisions incorporated therein.

“Terms” means these Virtual EPS Website Terms and Conditions, as may be amended or updated from time to time.

“User” or “Users” means any person or entity that accesses or uses the Website, including Merchants and Customers.

“Website” means the Virtual EPS website, including all pages, content, functionality, and features made available by Virtual EPS for use by Users.