”Customer” refers to a natural person of at least 18 years of age, who has made this Agreement with Prasos Oy.

”Customer Account” refers to the Customer’s account within the Coinmotion service, into which the Customer can deposit euro or a virtual currency, and using which the Customer can perform Payment Assignments denominated in euro.

”Coinmotion’s terms of use” refers to the terms of use of the Coinmotion service, provided by Prasos Oy, which can be found at the URL

”Coinmotion Service” refers to all services provided by Prasos Oy and described in the Coinmotion terms of use.

”Means of Distance Communication” refers to a telephone, computer, television, mail, data network or other tool that can be used for making an Agreement without the simultaneous presence of the Parties.

”Self-service Channel” refers to a web page, smartphone application or otherz equivalent user interface through which the Coinmotion service is used electronically. A functioning internet connection is required for using the self-service channel.

”Login Credentials” refers to the Customer’s user ID and password, with which the Customer can log into and use the Coinmotion service.

”Third Party” refers to a party other than Prasos Oy or the Customer.

”User Account” refers to the Customer’s user account for the Coinmotion service.

”Invoice Payment Service” refers to Prasos Oy’s Payment Service, which the Customer can use to authorize Prasos to pay the Customer’s invoice in euro, using the Customer account.

”Payee” refers to the party which receives the Payment Transaction and into whose receivables payments are made using the Payment Assignment.

”Payment Service” refers to payment services provided by Prasos Oy, such as the Money Transfer Service and Invoice Payment Service.

”Payment Transaction” means a procedure based on which funds are transferred or placed at a party’s disposal.

”Payment Assignment” refers to an instruction given to Prasos Oy by the Customer to perform a Payment Transaction.

”The Party” refers to either Prasos and/or the Customer.

”Service Price List” refers to the price list valid at any given time, on the basis of which Prasos Oy collects payments and fees from Customers in return for their use of Coinmotion services. The price list is available here:

”Money Transfer Service” refers to Prasos Oy’s Payment Service for money transfers, which the Customer can use to transfer euro-denominated funds from their own Customer Account to the bank account or Customer Account of another Customer, or to the bank account of a Third Party.

”Commitment” refers to the Commitment described in the Coinmotion terms of use.

”Agreement” refers to the Prasos Oy payment service terms of use given herein, which shall apply to the relationship between Prasos and the Customer, when the Customer uses the Payment Services.


1. The Service Provider

Name: Prasos Oy
Business ID: 2469683-1
Address of headquarters: Kauppakatu 39, 40100 Jyväskylä, Finland
Telephone number: +358 20 721 9480
Email address: [email protected]
URLs of websites: and
(hereinafter ”Prasos”).

Prasos is a limited liability company established in accordance with Finnish law and entered in the trade register maintained by the Finnish Patent and Registration Office (hereinafter the “PRH”). Prasos provides Payment Services on the basis of a business licence granted by the Finnish Financial Supervisory Authority.

2. Making of the Agreement, and the applicable terms

The Customer and Prasos shall make an Agreement electronically, by Means of Distance Communication. Upon the making of the Agreement, the Customer’s identity shall be confirmed in the manner described in Section 3 herein.

The Agreement between Prasos and the Customer shall enter into force immediately upon the Customer’s registration as a Customer and acceptance of the Payment Service terms.

In addition, upon making an Agreement, the Customer shall agree to engage in communications via the Self-service Channel.

Prasos has the right to refuse to make an Agreement with the Customer, either in full or with regard to any part of the service, without giving grounds for said refusal.

The Customer commits to using the Payment Services in accordance with the terms applicable to the Agreement at any given time, and the instructions issued by Prasos.

The Customer shall also take account of any terms and conditions set by network operators, device manufacturers and other Third Parties, compliance with which may be required for using the Payment Services.

In the event of any discrepancies between this translation and the Finnish version of the Agreement, the Finnish version shall take precedence.

3. Authentication of the Customer

In every case, when creating a user account via the Coinmotion service, the Customer’s identity shall be authenticated through the completion of the ‘know your customer’ form (hereinafter the ‘KYC form’) and an assessment of its contents. In addition to the KYC form and depending on the circumstances, the Customer’s overall conduct concerning the authentication and identification of the Customer, the prevention of terrorist financing and the related assessments, and any other Customer authentication, shall be considered during the authentication and identification of the Customer.

4. Contact information submitted to Prasos and obligation to notify

The Customer is obliged to provide Prasos with correct and sufficient information as requested and required by Prasos for the making of the Agreement and the implementation of the Payment Service, both prior to and during the validity of the Agreement. Prasos has the right to acquire information about the Customer from the Population Register Centre or another public register, and credit history information from an intermediary company or other trustworthy sources, where the use of such information is necessary to providing the Payment Service. Such information shall be used to identify the Customer; detect, prevent and assess any money laundering and terrorist financing; and to produce the Payment Service in accordance with the Commitment.

The Customer is liable for ensuring that such information is accurate and up to date. The Customer must immediately inform Prasos of any changes to its personal identification data and contact information. Prasos shall not be liable for any damage that arises due to the Customer’s failure to notify Prasos of any changes in said data. Prasos has the right to charge the Customer for any costs incurred by the Customer’s failure to notify Prasos of said changes.

5. Customer’s obligation to observe due care and attention

The Customer commits to acting with due care and attention in all actions pertaining to the relationship between Prasos and the Customer. The Customer understands that the User Account and Login Credentials are the Customer’s personal data and must be stored and used carefully and securely in such a manner that no Third Party can gain access to or use such data. The Customer undertakes not to hand over its rights to use the Payment Service to a Third Party, and not to otherwise allow Third Parties to use the Payment Service in the Customer’s name.

The Customer must keep its device (computer, telephone or tablet) software and operating systems up to date, use the appropriate antivirus and firewall software to protect its devices from malware, regularly update such software in accordance with the instructions issued by the manufacturers, and log out of the Coinmotion service whenever the Customer stops using the web application or mobile application.

If the Login Credentials are lost, fall into the hands of a Third Party or are illegally used, the Customer must inform Prasos thereof immediately by email at [email protected] The Customer is liable for all operation of its User Account.

The Customer is otherwise obliged to take all measures it deems reasonable to fulfilling its obligation to observe due care and attention and to check, at regular intervals and in accordance with the circumstances in question, that said obligation is fulfilled.

6. Validity and ending of the Agreement

The Agreement shall remain in force for the time being.

6.1 Customer’s right to terminate the Agreement

The Customer has the right to terminate the Agreement with immediate effect. The Agreement can be terminated via the Self-service Channel or in another agreed manner.

6.2 Customer’s right to cancel the Agreement

The Customer has the right the cancel the Agreement by Means of Distance Communication within fourteen (14) days of the making of the Agreement. Said right does not apply to changes to the Agreement.

6.3 Prasos’s right to end the Agreement or restrict the use of the Payment Service

Prasos has the right to terminate the Agreement with two (2) months’ notice from notifying the Customer of said termination. Prasos has the right to interrupt or prevent the Customer’s use of the Payment Service and/or cancel the Agreement with immediate effect, as well as the right to stop providing the Customer with the Payment Services and close the Customer Account if the Customer is in fundamental breach of its obligations under the Agreement or uses the Payment Services referred to herein in breach of their purpose of use, the law, or the rules of good conduct, or if Prasos suspects that the Customer’s device is, or that the Customer is otherwise, endangering the data security of the Payment Service. Prasos shall present the Customer with any notification of the termination or cancellation of the Agreement via the Customer’s Self-service Channel, or in some other continuously available form.

Within the limits of the applicable law and where it sees fit, Prasos may prevent the use of the Payment Service, or restrict the Customer’s possibility to use certain features of said service, with immediate effect.

6.4 Consequences of end of the Agreement

Prasos’s obligation to provide the Payment Service shall end