Effective date: October 9, 2026
These Terms govern your use of PaySprint Inc. websites, applications, digital wallet and related payment services, including services offered under the PYMO by PaySprint brand. They explain how you may use our services, how covered user funds are held in trust, and your rights and responsibilities. Schedule A forms part of these Terms. The canonical version is maintained at paysprint.ca/terms-of-service.
1.1 Your agreement is with PaySprint Inc. (PaySprint, we, us or our), WaterPark Place, 20 Bay Street, 11th Floor, Toronto, Ontario M5J 2N8, Canada. You means the individual or legal entity holding the account or using the services. PYMO by PaySprint is a product brand of PaySprint Inc.; it is not a separate contracting entity under these Terms.
1.2 Before opening or continuing to use a funded account, you must accept these Terms and expressly acknowledge Schedule A through the acceptance process we provide. When acting for a business, you confirm that you have authority to bind that business. We will make a copy available for you to retain and record the version and acceptance date.
1.3 Our Privacy Policy explains how we handle personal information. Applicable fee schedules and product agreements are presented before you subscribe to or activate the relevant service. A product agreement governs its specific service where it expressly differs from these Terms. Schedule A governs the safeguarding of covered user funds. No product agreement overrides mandatory safeguarding obligations or rights that cannot lawfully be waived.
1.4 These Terms do not, by themselves, assign an agreement previously made with a different corporation to PaySprint Inc. Any necessary assignment, transfer or replacement of such an agreement will be addressed through a separate lawful process and notice.
2.1 Individual users must be at least 18 and have legal capacity to enter this agreement. A service may have additional age, residency, business or jurisdiction requirements. Services are available only in the locations and currencies we support and where we are permitted to provide them.
2.2 You must provide accurate and current information and documents reasonably required for identity verification, business verification, beneficial ownership, sanctions screening, fraud prevention and other legal obligations. You must promptly notify us of material changes. We may restrict activation, funding, transfers or other features while required verification is incomplete.
2.3 We may verify information through permitted service providers and public or other lawful sources. Where a credit check requires consent, we will obtain that consent and disclose the nature of the inquiry before carrying it out. Acceptance of these Terms is not blanket consent to every future credit inquiry.
2.4 You may act only for yourself or an identified business you are authorized to represent. You must not conceal the true owner of funds or use an account as an undisclosed intermediary for another person. Approved agents and authorized business users must comply with any additional agreements applicable to them.
3.1 Depending on your location, account type and eligibility, services may include holding a wallet balance, sending and receiving payments, wallet transfers, bank withdrawals, bill payments, currency conversion, merchant payment acceptance, payment links, QR payments, virtual terminals, invoicing, stores, marketplace functions, rewards and access to separately agreed card or credit products.
3.2 A feature shown in promotional material may be planned, conditional or unavailable for your account. We will identify relevant eligibility, fees, limits and activation requirements before you use it. These Terms do not guarantee approval for credit, a card or another optional product.
3.3 PaySprint provides payment services. Opening a wallet does not, by itself, open a personal bank account in your name at Peoples Trust Company. Peoples Trust Company provides the trust account described in Schedule A; it does not become the provider of all PaySprint services merely because funds are placed there.
3.4 We may maintain or change services for operational, security, legal or commercial reasons. We will give reasonable advance notice of material reductions where practicable and legally required. We may act immediately to address security threats, legal requirements or payment-network instructions. Any change remains subject to your withdrawal rights, Schedule A and applicable law.
4.1 Keep passwords, PINs, verification codes and recovery information secure. Use the security controls we provide and notify us promptly if your device or credentials are compromised or you suspect fraud. Do not give another person your personal login credentials.
4.2 Business accounts must assign authorized users through the available account controls. The business is responsible for permissions it grants and must promptly remove access when authority ends. We may rely on instructions from an authorized user unless we know, or reasonably should know, that the authority has ended or the instruction is unauthorized.
4.3 Security failures do not automatically make you liable for every disputed transaction. Responsibility will be determined under applicable law, the relevant product agreement and the circumstances, including whether you authorized the transaction and whether either party failed to meet its obligations.
5.1 Use only funding sources you own or are legally authorized to use. We may require proof of ownership or authority. Available funding methods, fees, limits and estimated availability will be shown in the service or applicable fee schedule.
5.2 Pending, available and restricted balances may differ. A payment displayed as pending may not have been received or finally settled. We will explain material restrictions and relevant processing conditions. A display error does not create an entitlement to funds that were never received, but we remain responsible for correcting our records and investigating discrepancies.
5.3 Funding may be reversed where permitted because of a returned transfer, valid chargeback, fraud or another lawful reason. We will identify the transaction and basis for any debit, subject to legal disclosure restrictions, and provide a way to dispute it. An account shortfall must be repaid where you are legally responsible for it. We will not impose undisclosed interest or credit charges.
5.4 Covered user funds are governed by Schedule A. Wallet limits, account restrictions and funding-source limits do not change our obligation to safeguard covered funds while we hold them.
6.1 Before confirming a payment, check the recipient, account details, amount, currency, exchange rate and charges. You authorize us to execute the instruction you confirm and to debit the corresponding amount and clearly disclosed fees. Recurring payments require a separately identifiable mandate describing their scope and how to cancel them.
6.2 A confirmed payment may become irrevocable once processing begins or a payment system accepts it. We will tell you when cancellation is available. We will make reasonable efforts to assist with a mistaken payment, but recovery may depend on the recipient or another provider. This does not limit remedies for our execution errors.
6.3 Completion times depend on the payment method, destination, verification, cut-off times, weekends and other providers. We will disclose available estimates and known material delays. We do not describe pending funds as immediately available when they are not.
6.4 We may reject or pause instructions for insufficient funds, applicable limits, incomplete verification, reasonably suspected fraud, sanctions, a legal order or other lawful grounds. We will provide an explanation and next steps when permitted. We will release restrictions when their lawful basis ends.
6.5 For international transfers and currency conversion, the rate, fees and expected recipient amount will be displayed before confirmation. Any spread included in the rate will be disclosed as applicable. Destination providers may impose charges or requirements that we will identify where known. Canadian trust or deposit-insurance arrangements do not automatically apply to every stage of an international transfer.
7.1 Fees are those disclosed in the applicable plan, fee schedule or transaction confirmation. They may include subscription, processing, funding, withdrawal, foreign exchange or other service fees. Taxes will be identified where applicable. We will not charge a fee that has not been disclosed or otherwise lawfully agreed.
7.2 For a subscription, we will disclose the price, billing interval, renewal, trial or promotional expiry, cancellation method and any refund conditions before acceptance. Automatic renewal applies only where you have agreed to it. You can cancel through your account or by contacting support. Cancellation will stop future renewals in accordance with the disclosed terms and applicable law; deleting an application alone does not cancel a subscription or payment mandate.
7.3 We will give at least 30 days notice before a subscription fee increase unless a longer period is required by law. You may cancel before the increase takes effect. Fees for a new optional service will be disclosed before activation.
7.4 You authorize deduction of due, disclosed fees from your available wallet balance only where the fee and debit method have been agreed. We will record each deduction. Any set-off must be lawful, relate to a genuine obligation you owe, and respect Schedule A. These Terms do not authorize taking another user's funds or using the pooled trust balance to discharge PaySprint's debts.
8.1 You may request withdrawal of your available balance using supported methods. Applicable limits, fees, verification requirements and estimated processing times will be disclosed. We will process a valid request without undue delay, subject to lawful restrictions and disclosed processing conditions.
8.2 A hold must have a lawful or contractually valid basis, such as a legal order, fraud investigation, unresolved reversal or agreed merchant reserve. We will explain the scope and review process where permitted. A hold does not transfer ownership of your funds to PaySprint and does not end applicable safeguarding.
8.3 If a withdrawal fails, we will investigate and restore any amount not successfully paid, less only lawful and disclosed charges. If the service ends, we will provide a process to return your remaining funds, subject to lawful holds and any valid deductions. We will follow applicable unclaimed-property rules where funds cannot be returned.
9.1 Review your account history regularly. Contact support@paysprint.ca as soon as possible if a transaction is missing, duplicated, incorrect or unauthorized. Provide available dates, amounts and reference numbers, but do not send passwords or verification codes. Delay may affect recovery or rights under a separate card or network agreement; it does not override statutory rights.
9.2 We will acknowledge the complaint, investigate the available evidence and communicate the outcome and any correction. Where another provider is involved, we will explain the applicable process. We may request information reasonably necessary to investigate. We will not assume that use of credentials alone conclusively proves authorization.
9.3 If you disagree with the outcome, request escalation to PaySprint's complaints officer through support@paysprint.ca. We will provide the applicable escalation process and external avenues required by law or a relevant product agreement. Nothing prevents you from contacting a regulator, reporting suspected crime or pursuing a lawful remedy.
10.1 Merchants must accurately describe their business and products, obtain necessary permissions, fulfill customer orders, disclose prices and refund terms, and comply with applicable consumer, tax, privacy and payment-network requirements. A separate merchant agreement may address processing, settlement, reserves, disputes and chargebacks.
10.2 We will disclose settlement arrangements, applicable reserves and material restrictions before merchant activation or when lawfully changed. A reserve remains subject to applicable safeguarding requirements where it constitutes covered user funds. We will not use reserves for PaySprint's operating expenses.
10.3 A merchant is responsible for valid refunds, chargebacks and other obligations allocated to it under its merchant agreement and applicable law. We may debit agreed amounts with a transaction record and dispute process. Network deadlines and evidence requirements may apply.
10.4 Unless we expressly agree otherwise, PaySprint supplies payment and store technology rather than acting as seller of a merchant's goods or services. The merchant remains responsible for delivery, quality and customer obligations. We do not require exclusive payment processing under these Terms; any exclusivity must be separately negotiated.
11.1 Wallet-linked cards are available only to eligible users in supported jurisdictions. The card issuer and applicable cardholder agreement will be identified before activation. Issuance, authorization, ATM access, foreign exchange, disputes and replacement are governed by that agreement and applicable law.
11.2 A wallet-linked card does not directly access overdraft funds. Card spending is subject to the cardholder agreement and the available balance permitted for card use. Holding a card does not guarantee overdraft eligibility.
11.3 We may share information needed to provide a card or linked payment service with the identified issuer, processors and networks, consistently with applicable privacy law and the Privacy Policy. Linking a card or bank account does not authorize unrelated debits or unrestricted access to that account.
12.1 Overdraft protection and other credit products require a separate credit agreement and approval. An advertised limit is not a commitment to lend. Eligibility may consider verification, account history, activity, repayment ability and other disclosed lawful criteria. Where required for a Canadian product, a PaySprint Mastercard on file may be an eligibility condition.
12.2 Before accepting credit, you will receive the lender's identity, approved limit, applicable interest and fees, repayment obligations, consequences of default, cancellation rights and relevant credit-reporting information. We will obtain any necessary credit-check or reporting consent separately. These Terms alone do not authorize a loan, guarantee credit building or establish a repayment debit mandate.
12.3 Safeguarded user funds will not be used to finance PaySprint's business or loans to other users under these Terms. Any separately offered investment or lending arrangement requires its own lawful structure and disclosures; acceptance of Schedule A is not consent to such an arrangement.
13.1 Rewards, P-Coins, cashback and referral benefits are governed by the program terms disclosed when you join. Those terms will explain eligibility, calculation, review, redemption, expiry and permitted changes. Unredeemed points are not a cash deposit or trust balance. Once a valid reward is redeemed and credited as received wallet funds, applicable safeguarding will apply.
13.2 A Spend2Save feature that merely moves your funds into a designated wallet allocation does not, by itself, create a separate bank account or investment. We will explain access, automation and cancellation before activation. Any interest-bearing savings, investment or lending product requires separate terms identifying its provider, risks, fees, interest entitlement and protection.
13.3 No interest rate, cashback rate or return is guaranteed by these Terms. Trust-account interest is addressed in Schedule A and must not be confused with a separately offered savings return.
14.1 You must not use the services for fraud, money laundering, terrorist financing, sanctions evasion, illegal goods or services, impersonation, unauthorized use of payment instruments, deliberate manipulation of rewards, infringement of others' rights or interference with service security. Do not attempt to bypass verification or limits or introduce malicious code.
14.2 Restrictions for particular industries or transactions will be disclosed in the applicable acceptable-use or merchant policy. Changes to such policies are subject to section 18. Enforcement will be proportionate to the circumstances and our legal obligations.
15.1 We process personal information as explained in our Privacy Policy and applicable product disclosures. Necessary recipients may include verification providers, Peoples Trust Company, payment processors, card issuers, networks, authorized trust administrators, CDIC and public authorities where disclosure is lawfully required or permitted.
15.2 We maintain transaction and beneficiary records for servicing, safeguarding, reconciliation and legal compliance. Account closure does not require deletion of records we must lawfully retain. We will protect retained records and apply lawful retention limits.
15.3 We may deliver account statements, legal notices and service communications electronically using agreed channels. Keep your contact information current. Where law requires consent to electronic delivery, we will obtain it. Marketing preferences are separate from essential account communications and can be managed through the available controls.
16.1 You may close your account through the available controls or support, subject to completing pending transactions and resolving lawful restrictions. We will explain how to cancel subscriptions and mandates and withdraw remaining funds. Closing a wallet does not cancel a separate credit obligation or card agreement unless that agreement provides otherwise.
16.2 We may suspend or close an account for material breach, legal requirements, fraud or security risk, loss of eligibility or discontinuation of a service. We will ordinarily provide reasons and reasonable notice, except where immediate action is justified or disclosure is prohibited. We will provide review or complaint options where appropriate.
16.3 Closure or inactivity does not forfeit your balance. Safeguarding continues while we hold covered funds, including during a lawful hold or return process. Any dormant-account fee must be separately disclosed and lawful. We will follow applicable unclaimed-property requirements.
16.4 Obligations relating to valid pending transactions, lawful fees, chargebacks, records, trust interests, confidentiality and dispute resolution survive closure to the extent necessary. We will not preserve obligations indefinitely where law limits them.
17.1 We will exercise reasonable care and skill in providing the services and comply with applicable legal and safeguarding obligations. We do not guarantee uninterrupted service or the performance of a merchant or unrelated recipient. We remain responsible for obligations that law places on us notwithstanding our use of third-party providers.
17.2 To the extent permitted by law, neither party is liable to the other for indirect or consequential losses that were not reasonably foreseeable. This exclusion does not apply to fraud, wilful misconduct, gross negligence, breach of trust, liability that cannot lawfully be excluded or amounts required to restore or return user funds because of that party's breach.
17.3 These Terms do not cap your entitlement to your covered funds, excuse a failure to safeguard or return funds, or waive consumer protections. A separate business agreement may contain lawful limits for specified commercial services, but cannot override mandatory safeguarding or statutory rights.
17.4 You are responsible for losses caused by your fraud, unlawful conduct or material breach to the extent legally attributable to you. Any business indemnity for merchant activity must be set out in the merchant agreement. These Terms impose no blanket obligation on a consumer to indemnify PaySprint for PaySprint's own wrongdoing.
17.5 Events beyond reasonable control may delay services. We will take reasonable steps to limit disruption and communicate material impacts. Such events do not authorize us to spend trust funds for our business or waive obligations that continue under law.
18.1 We will give at least 30 days advance notice of material changes affecting your rights, fees or obligations, unless law requires longer notice or an immediate change is necessary for legal compliance or security. The notice will explain the change, effective date and your options.
18.2 Where consent is required, we will obtain it before the change applies. A material change to trust arrangements or beneficial rights will require an express acknowledgement or other acceptance process sufficient under applicable law. We will not rely solely on posting revised terms to establish a new trust intention where affirmative acknowledgement is needed.
18.3 You may decline a change and close the affected service before it takes effect, subject to lawful outstanding obligations. We will preserve your rights to safeguarded funds and provide a return process. Changes do not retrospectively authorize debits or eliminate accrued rights.
19.1 These Terms are governed by Ontario law and applicable federal Canadian law, subject to mandatory laws and rights applicable in your jurisdiction. Disputes may be brought in the Ontario courts unless applicable law permits or requires another venue. These Terms impose no mandatory arbitration or waiver of a lawful class action or statutory remedy.
19.2 If a provision is unenforceable, the remaining provisions continue to the extent lawful. Failure to enforce a provision once does not waive it. These Terms and the applicable accepted schedules and product agreements constitute the agreement for the services they cover, subject to applicable law and any separately agreed transition from an earlier contracting entity.
19.3 You may not transfer an account without our approval. We may transfer this agreement only where lawful and with required notice or consent. Any transfer involving covered user funds must preserve their safeguarding and beneficial rights; it cannot convert those funds into the recipient's operating assets.
19.4 We own or license our service technology and branding. You receive permission to use them for their intended purpose while authorized. You retain rights in content you submit and grant us only the rights reasonably necessary to host, process and display it for the services. We will not publicly identify a consumer as a customer for marketing without lawful consent.
For account support, complaints, cancellations, withdrawal questions or suspected unauthorized transactions, contact support@paysprint.ca or use the authenticated support channel in your account. Written notices may be sent to PaySprint Inc., WaterPark Place, 20 Bay Street, 11th Floor, Toronto, Ontario M5J 2N8, Canada. Do not send sensitive verification documents by ordinary email when a secure upload channel is available.
You expressly intend that Covered Funds you provide to PaySprint, or that PaySprint receives for you, be held in trust for your benefit. PaySprint declares that it will hold those funds as trustee for the relevant users, rather than as its own beneficial property. Each beneficiary and their interest will be identifiable through PaySprint's records. This declaration is to operate with the applicable trust instrument and the account arrangements, which must give effect to the rights stated in this Schedule.
Covered Funds means money PaySprint actually holds on your behalf pending withdrawal, transfer or another permitted payment instruction, and that is subject to this trust arrangement. It excludes unreceived funding, unredeemed reward points, undrawn credit limits and amounts already lawfully paid out or earned and properly deducted as disclosed fees. A displayed amount alone does not establish that money has been received.
The balances, currencies and jurisdictions placed in the Peoples Trust account are: for wallet balances held by PaySprint and other services we may offer. Before offering an excluded or separately safeguarded balance, PaySprint will disclose its applicable arrangement. This scope disclosure does not reduce any safeguarding obligation imposed by law.
PaySprint maintains a professional trust account with Peoples Trust Company for covered user funds. Peoples Trust Company is the account provider. PaySprint is the proposed trustee under this Schedule, subject to confirmation against the executed trust instrument before these Terms take effect. Users' funds may be pooled with funds belonging to other beneficiaries. PaySprint will maintain records of each beneficiary's entitlement and reconcile those records with the safeguarded funds. Pooling does not give you ownership of another user's funds.
PaySprint will segregate Covered Funds from its own money on receipt and place them in the safeguarding account in accordance with applicable law. Where unavoidable processing constraints delay placement, PaySprint will continue to treat the funds as belonging to users, will not use them for another purpose, and will disclose the relevant situations and risks.
Applicable processing exceptions and the point at which funds reach the trust account are: when funds are moved from held clients bank account into Professional Trust account with Peoples Trust Company. Pending or in-transit funds must not be represented as already deposited at Peoples Trust Company if they have not reached that account.
You authorize PaySprint to administer your Covered Funds solely for your benefit and to carry out your valid payment and withdrawal instructions. PaySprint may deduct a fee or other amount only where it is lawful, properly disclosed, due and authorized under the applicable agreement. It must record and allocate any deduction to the correct user. These Terms do not authorize charging trust administration expenses to beneficiaries unless separately and lawfully agreed with clear allocation terms.
PaySprint will not use Covered Funds to pay its operating expenses, secure its borrowing, finance overdrafts or loans to other users, or discharge debts of PaySprint or an affiliate. The account provider's rights against the safeguarding account must comply with statutory restrictions on set-off. Nothing in these Terms permits an account provider to take safeguarded user funds for PaySprint's own debts.
The trust-account interest position is: held by PaySprint Inc. for the purpose of covering part of the cost of trust administration and as allowed under RRPA Act. Acceptance of these Terms alone does not authorize PaySprint to retain interest beneficially belonging to users. Any lawful arrangement for retaining or allocating interest must be clearly disclosed and agreed before it applies. No user interest rate is promised by this Schedule.
You may request return of your available Covered Funds under section 8. A lawful restriction does not end the trust or permit diversion of funds. PaySprint will maintain arrangements intended to identify beneficiaries and facilitate return of their funds if PaySprint becomes insolvent. A valid trust is intended to keep those funds separate from PaySprint's general assets available to creditors. Actual recovery and timing depend on applicable law, the validity of the arrangement, accurate records, the available funds and any court or administrator process. This Schedule does not promise immediate access during insolvency proceedings.
PaySprint is not a CDIC member institution. Holding funds in trust is distinct from deposit insurance. Eligible deposits held in trust at a CDIC member institution may qualify for protection up to CAD 100,000 per beneficiary, subject to CDIC rules, required beneficiary records, aggregation and other eligibility conditions. Opening a professional trust account does not by itself establish coverage for every balance. CDIC protection concerns failure of the member institution; it does not insure rewards, an undrawn credit limit or every loss arising from PaySprint services.
Before making a specific coverage representation, PaySprint will confirm the relevant deposit eligibility and trust disclosure requirements with the account provider and provide the applicable disclosure to users. Details about CDIC protection are available at www.cdic.ca.
You must keep your identifying and contact information current. PaySprint may lawfully maintain and disclose information needed to identify your trust interest, administer the account, meet deposit-insurance requirements and facilitate return of funds, as explained in the Privacy Policy. A change of account provider or trustee must preserve applicable safeguards and beneficial interests and follow required notice and consent procedures.
The account acceptance process must record your acknowledgement: I have read and accept the PaySprint Inc. Terms of Use and Schedule A. I intend that my Covered Funds be held in trust for my benefit under the disclosed safeguarding arrangement. I authorize administration and payments only as permitted by those Terms and my valid instructions. I understand that my wallet is not a personal bank account at Peoples Trust Company and that CDIC coverage depends on the applicable eligibility and disclosure requirements.
Questions about these Terms can be directed to support@paysprint.ca.