PayPal PIX Agreement

PayPal Pix is an optimized payment management tool available to legal entities, such as Recipient Users ("You" or "Recipient User"), which allows the acceptance of Pix payments for the sale of products and/or services to individual or legal customers ("Payers").

PayPal Pix is only available to eligible Recipient Users upon prior request. Eligibility for PayPal Pix is at the sole discretion of PayPal, as set forth in Section 2 below.

This PayPal Pix Agreement ("PayPal Pix Agreement") is an agreement between you, the Recipient User, and PayPal do Brasil Instituição de Pagamento Ltda. ("PayPal"), a company incorporated and existing under the laws of Brazil, registered in the National Registry of Legal Entities of the Ministry of Finance ("CNPJ/MF") under no. 10.878.448/0001-66, with an office in the city of São Paulo, State of São Paulo, on Avenida Paulista, 1048, 13° floor, ZIP code 01310-100, and applies to your use of PayPal services to accept payments via Pix using the PayPal Pix infrastructure.

All capitalized words and phrases used herein must have the meanings ascribed to them in this PayPal Pix Agreement or the PayPal User Agreement. The headings below are for reference only and do not limit the scope of each section.

You must read, agree with, and accept all of the terms and conditions contained in this PayPal Pix Agreement in order to use PayPal Pix to accept Pix payments from Payers. By accepting the PayPal User Agreement or using PayPal Pix, you acknowledge that you have accepted this PayPal Pix Agreement.

This PayPal Pix Agreement, together with the PayPal User Agreement and any other agreements you have entered into with PayPal (collectively, "PayPal Agreements"), apply to your use of PayPal Pix. If there is any inconsistency between the terms of the PayPal User Agreement and this PayPal Pix Agreement, the PayPal Pix Agreement will govern your use of PayPal Pix.

PayPal Agreements are electronic agreements that are available on the PayPal Terms of Use Page, as well as the policies that are part of the PayPal Agreements, which are available on the same page.

PayPal reserves the right to change the terms of the PayPal Pix Agreement at any time without notice by posting a revised version on its website. Any new revised version will be effective at the time it is posted. If the changes reduce your rights or increase your obligations, we will inform you at least 30 days in advance. We will let you know by email or post a notice on our Policy Updates page on our website.

This PayPal Pix Agreement amends and reaffirms any other agreement entered into between you and PayPal in the past in connection with your use of PayPal Pix, unless otherwise agreed between you and PayPal.

Continued use of PayPal Pix after the new revised version of this PayPal Pix Agreement becomes effective will automatically imply that you have full knowledge of and acceptance of all of the terms and conditions hereof.

PayPal reserves the right to terminate, suspend, or limit your access to PayPal Pix immediately if you violate any terms of this PayPal Pix Agreement, PayPal User Agreement, PayPal Acceptable Use Policy, and any other PayPal policy, subject to the provisions of Section 7 below.

To be eligible to receive payments through PayPal Pix, you must (i) be a legal entity and have a valid CNPJ [Brazilian National Registry of Legal Entities number], (ii) have a PayPal Account with a good reputation, (iii) provide specific business information, about operations and/or financial details as requested by PayPal, and (iv) hold a demand deposit or payment account with another financial and/or payment institution authorized by the Central Bank of Brazil.

PayPal will review the information you provide and respond, in a timely manner, to whether or not you have been approved to use PayPal Pix. You must be previously approved by PayPal to use PayPal Pix.

Once your request to use PayPal Pix is approved, you will be able to integrate PayPal Pix in accordance with the PayPal Pix integration guidelines that will be informed to you by PayPal.

PayPal reserves the right to re-evaluate your eligibility for PayPal Pix at any time at its own discretion, especially if your business and/or website becomes different from the information you provided when requesting PayPal Pix integration.

PayPal Pix allows you, as a Recipient User, to receive and manage payments via Pix for the sale of products and/or services made by Payers. You will be able to request to use the solution within your PayPal Business Account.

For this solution, you will not need to use your PayPal Account. All payments made by Payers will be directly channeled to an account owned by PayPal maintained with a financial and/or payment institution authorized to operate by the Central Bank of Brazil ("PayPal Partner Account"). Upon receiving the funds in the PayPal Partner Account, PayPal will transfer the funds to a demand deposit or payment account belonging to you held by another financial and/or payment institution authorized by the Central Bank of Brazil ("Customer Domicile Account"), via Pix or TED.

The transfers will be made by PayPal to you after indicating the following details from your Customer Domicile Account: (i) Pix Key, which will be used as the main alternative for transfers; or (ii) details for performing TEDs [Express Wire Transfers], including the institution name, account number, and agency. Please note that if the account indicated does not belong to you, the transfer will not be carried out.

This will be the only way to transfer the funds paid by the Payers to the Customer Domicile Account, so you will not be able to request the transfer directly from your PayPal Account.

PayPal will transfer the amounts paid by the Payers to your Customer Domicile Account on the following business day compilating the amounts received from the Payers. You may also request the transfer of the amounts paid by the Payers to your Customer Domicile Account on the same day of the transaction, as long as it is a business day, subject to additional fees displayed in PayPal’s fee page.

You will be able to preview the amounts paid by Payers that you are to receive from PayPal in your PayPal Account. However, the amounts indicated will only be for the purpose of transparency and information for the Recipient User, and there will be no issuance of e-currency by PayPal under any circumstances.

PayPal does not request or require its users to disclose their passwords, Pix Key, or other banking details by email, phone, or any other personalized service channel.

You are responsible for maintaining proper security and control of all usernames, passwords, personal identification numbers, Pix Keys, or any other code that you utilize to use PayPal services. Pix transactions must be performed in accordance with PayPal's security policies and procedures, and you may follow the security guidelines provided on the Security Center page of the PayPal website to reduce the risk of inappropriate use of your data to access PayPal Pix.

PayPal Pix login details are confidential, personal, and non-transferable, and should not, under any circumstances, be shared with third parties. You are solely and exclusively responsible in case of improper use of the login details to PayPal Pix. PayPal is not responsible for the improper use of the login details, nor for Pix transactions that you carry out negligently and/or recklessly in relation to the login details to your PayPal Account and PayPal Pix.

In the context of your use of PayPal Pix, by accepting these legal agreements, you grant authorization to PayPal, conferring on it sufficient powers to act on your behalf to: (i) receive funds from the Payers in the PayPal Partner Account; and (ii) transfer the balances from the PayPal Partner Account to the other account in your ownership.

You agree that any actions taken by PayPal as your designee will be deemed to have been conducted by you. Therefore, you are responsible for any consequences, obligations, or liabilities arising from the actions of PayPal for the purposes described above.

You agree that if you wish to revoke the authorization granted under the above terms, you will immediately lose access to PayPal Pix. You will be entitled only to request the transfer of the funds deposited in the PayPal Partner Account to the other account in your ownership.

Requests for return and cancellation of funds will be made in accordance with the applicable laws, procedures, deadlines, and limits, observing, where applicable, the terms of the rules and regulations instituted by the Central Bank of Brazil. If you receive a payment for the sale of items or services that is later refunded or invalidated for any reason, including in the event of fraud, you are responsible for the full amount of the payment sent to you plus any applicable fees, which will be expressly stated. Whenever a transaction is refunded or reversed, PayPal, at its sole discretion, will (i) refund or reverse the transaction using your account balance, if you have a PayPal Account with a balance; (ii) deduct the amounts from any credit you may have against PayPal or from any future payments you receive; or (iii) ask you to add funds to your account to cover the refunded or reversed transaction, along with any applicable fees.

You will be responsible for a full refund of PayPal in the event of fraud related to the transaction(s).

If you refund a transaction, we'll retain the fees paid as set forth on our Fees page

Payments to you may be invalidated and reversed by PayPal if:

1. You do not provide a valid account owned by you to facilitate the transfer of the amounts paid by the Payers.
2. PayPal sends the payment to you in error.
3. The payment is not authorized.
4. You receive the payment for activities that violate the PayPal Agreements.
5. There is a reasonable suspicion of fraud.

When you receive a payment, you are liable to PayPal for the full amount of the payment sent to you plus any fees if the payment is subsequently invalidated for any reason.

If you owe us any amount, you must immediately add the funds to your PayPal Account to pay it off. If you do not, PayPal may:

1. conduct collection efforts to recover these amounts from you, including, but not limited to, including your name on the credit protection entities register, instructing a collection agency to recover the amount due, and/or initiating legal proceedings; and
2. place a limitation or other action on your PayPal Pix or your PayPal account as described in Restricted Activities and Holds.

The Pix trademark is the exclusive property of the Central Bank of Brazil, which grants the temporary, non-exclusive, and non-transferable license of use to Pix participants. As a result, the Recipient User understands and agrees that they may not use the Pix trademark.

You agree to pay the service fees and other charges, net of taxes, set forth by PayPal for PayPal Pix, available on our Fees page.

PayPal may deduct the service fees and other charges you incur against PayPal from the amount paid by the Payers.

The terms and conditions set forth in this Exhibit shall be valid and effective for the same term as the PayPal User Agreement from the date of acceptance of this Exhibit, binding the Recipient User, PayPal, and respective successors.

You may request the cancellation of access to PayPal Pix by prior notice of thirty (30) days, without any charges or penalty.

PayPal may stop providing PayPal Pix functionality to the Recipient User, without penalty, in the following cases:

1. the Recipient User's use of Pix is not in compliance with applicable regulations;
2. closure of the PayPal Account held by the Recipient User.
3. declaration of bankruptcy, judicial reorganization, or civil insolvency of the Recipient User;
4. for disagreement or lack of commercial interest, at any time upon written notice to you; and any possibility of termination as provided for in the PayPal User Agreement.

In the event of the termination of PayPal Pix, if the Recipient User has a balance receivable from PayPal at the time of termination, the Recipient User must provide PayPal with an account in their ownership so that PayPal can facilitate the payment of the respective amount.

Termination of this Exhibit results in the termination of PayPal Pix.