Terms of Service

1. About Zen Pay

Zen Pay is a non-custodial wallet service operated by Zentech Innovation Ltd, a private limited company registered in England and Wales under company number 17139132 ("we", "us", "our", or the "Company").

Zen Pay allows users to hold and transfer USDC (a USD-pegged stablecoin issued by Circle) on the Base network. Users authenticate via email and are provisioned a self-custody wallet hosted in a secure enclave by our identity partner. By using the Zen Pay wallet, website, or any related services (collectively the "Service"), you agree to be bound by these Terms of Service. If you do not agree, do not use the Service.

2. Eligibility

You must be at least 18 years old to use the Service. By creating a wallet or accessing the Service, you represent that you meet this requirement and that you are legally permitted to use cryptocurrency services in your jurisdiction.

The Service is not available to persons located in, or residents of, any jurisdiction where the use of cryptocurrency or stablecoin wallets is prohibited or restricted by law or regulation.

United Kingdom: The fiat onramp feature (purchasing cryptocurrency with a debit or credit card) is not currently available to users located in or residents of the United Kingdom. Zentech Innovation Ltd is incorporated in England and Wales but does not promote or offer crypto-asset services to UK consumers pending appropriate regulatory authorisation.

3. Account and Authentication

You authenticate via a one-time email verification code provided through our identity partner, Privy. Your self-custody wallet is generated and held in a secure enclave operated by Privy; Zentech Innovation Ltd does not have access to your private key at any time. You are responsible for maintaining control of the email address associated with your wallet. We are not liable for unauthorised access resulting from compromise of your email account.

4. Self-Custody and Wallet Funds

Your Zen Pay wallet holds USDC on the Base blockchain. USDC is issued by Circle and is designed to maintain a 1:1 peg with the US Dollar, though we do not guarantee this peg. Wallet balances are not deposits with Zentech Innovation Ltd, are not held on our balance sheet, and are not protected by any government deposit insurance scheme.

The wallet is non-custodial. You may export your private key at any time and move your wallet to any compatible external wallet (such as MetaMask or Coinbase Wallet). Zentech Innovation Ltd does not have custody of your USDC and cannot freeze, seize, reverse or otherwise control transactions initiated from your wallet.

Funds may be added to your wallet via our onramp partner(s). All purchases of USDC are transactions between you and the onramp provider and are subject to the provider's own terms, fees, KYC/AML requirements and supported jurisdictions. We do not receive, hold or route any fiat funds during the onramp process.

5. On-Chain Transfers

Any transfer of USDC out of your Zen Pay wallet is an on-chain transaction initiated, authorised and cryptographically signed by you, and broadcast directly to the Base blockchain. Zentech Innovation Ltd does not act as an intermediary, payment processor, clearing agent or settlement provider for such transfers. We do not route payments between users or to third parties.

All blockchain transactions are final and irreversible. We cannot reverse, cancel, or refund any completed transaction. You are solely responsible for verifying the destination address before signing any transfer.

6. Anti-Money Laundering (AML) and Know Your Customer (KYC)

KYC/AML verification in respect of the purchase of USDC is conducted by our regulated onramp partner(s) in accordance with their applicable regulatory obligations. Where required by law or by our partners, we may request additional information from you or suspend your access to the Service.

We reserve the right to suspend or terminate your access to the Service if we suspect any fraudulent, illegal, or suspicious activity, or if you fail to provide requested verification information.

7. Prohibited Activities

You agree not to use the Service to:

• Engage in money laundering, terrorist financing, or any illegal activity.
• Circumvent any applicable laws, regulations, or sanctions.
• Attempt to gain unauthorised access to other users' wallets or accounts.
• Use the Service in any way that could damage, disable, or impair its operation.
• Interfere with or disrupt the integrity or security of the Service.

8. Risk Disclosures

Cryptocurrency and stablecoin transactions carry inherent risks. By using the Service, you acknowledge and accept the following:

• Volatility and value risk: Although USDC is designed to maintain a stable value, there is no guarantee it will always trade at $1.00. You could lose some or all of the value of your holdings.
• Blockchain risk: Transactions on the Base network are irreversible. Errors in wallet addresses, network congestion, or smart contract failures could result in permanent loss of funds.
• Regulatory risk: Cryptocurrency regulations vary by jurisdiction and may change. You are responsible for understanding and complying with the laws applicable to you.
• Self-custody risk: Because the wallet is non-custodial, loss of access to your authentication email — and, where you have exported it, loss of your private key — may result in permanent loss of your funds. Zentech Innovation Ltd cannot recover private keys on your behalf.
• No deposit protection: Funds held in Zen Pay wallets are not bank deposits and are not covered by the Financial Services Compensation Scheme (FSCS) or any other deposit guarantee scheme.

9. Fees

Zen Pay does not currently charge fees for holding a wallet or for the use of the Service. Blockchain network (gas) fees may apply to on-chain transactions. Onramp providers charge their own fees for purchasing USDC, disclosed at the point of purchase. We reserve the right to introduce fees in the future with reasonable notice.

10. Limitation of Liability

To the fullest extent permitted by applicable law, Zentech Innovation Ltd and its directors, officers, and employees shall not be liable for any indirect, incidental, consequential, or punitive damages arising from your use of the Service, including but not limited to loss of funds, loss of data, or loss of profits.

Our total aggregate liability to you for any claims arising from or related to the Service shall not exceed the amount of fees (if any) paid by you to us in the twelve (12) months preceding the claim.

11. Intellectual Property

All content, trademarks, logos, and intellectual property displayed on the Service are owned by or licensed to Zentech Innovation Ltd. You may not reproduce, distribute, or create derivative works from any part of the Service without our prior written consent.

12. Modifications

We may update these Terms from time to time. Material changes will be communicated via the Service or by email. Your continued use of the Service after changes take effect constitutes acceptance of the revised Terms.

13. Termination

We may suspend or terminate your access to the front-end Service at any time, with or without cause, including if we reasonably believe you have violated these Terms or applicable law. Because the wallet is non-custodial, you retain the ability to access and move your USDC using your exported private key in any compatible wallet even if your access to the Zen Pay front-end is suspended.

14. Governing Law and Disputes

These Terms are governed by and construed in accordance with the laws of England and Wales. Any disputes arising from or relating to these Terms or the Service shall be subject to the exclusive jurisdiction of the courts of England and Wales.

15. Contact

If you have questions about these Terms or the Service, please contact us at: support@zen-pay.net

Zentech Innovation Ltd
Company No. 17139132
Registered in England and Wales