TERMS AND CONDITIONS – BilleteraP2P
Welcome
Welcome to BilleteraP2P, a technological solution developed and operated by BILLETERA DIGITAL P2P INC Our application is designed to provide users with an agile, secure, and reliable experience in managing digital exchanges, peer-to-peer (P2P) transfers, payments, and complementary operations that facilitate financial interaction in daily life.
Our users' trust is our priority. Therefore, BilleteraP2P has been conceived under international-level technological and operational security standards, implementing compliance practices, risk prevention, and personal data protection, to ensure that every transaction is carried out in a reliable and transparent environment.
It is important to note that BilleteraP2P is not a bank nor an entity supervised by the Superintendencia Financiera de Colombia (Colombian Financial Superintendency). Our work consists of offering a digital technological intermediation platform that connects people and facilitates their operations, under the framework of applicable commercial and civil legislation in Colombia.
1. Applicability
These Terms and Conditions ("T&C") govern the access, navigation, registration, and use of the BilleteraP2P mobile application, as well as its official website and any other digital channel or communication medium developed, administered, or made available by BILLETERA DIGITAL P2P INC (hereinafter, "the Company").
By entering, installing, registering, or using the services of BilleteraP2P, the user acknowledges that they have read, understood, and expressly accepted the content of these T&C, which constitute a binding legal agreement between the user and the Company. These T&C apply to all services provided through the platform, regardless of the device, operating system, or digital channel used for access.
Acceptance of these T&C is an essential condition for the use of BilleteraP2P. Consequently, if the user does not agree with their content, they must refrain from registering, accessing, or using the application and its associated services.
These T&C are general in nature and are understood to be complemented by the Personal Data Processing Policy, the Privacy Policy, as well as any other regulations, guidelines, or notices that the Company provides within the platform to ensure secure, transparent use in accordance with current regulations.
2. Acceptance
The access, registration, download, installation, and/or use of the mobile application, the website, and any channel associated with BilleteraP2P implies the full, express, and unconditional acceptance of these Terms and Conditions ("T&C"), as well as the complementary policies that govern its operation.
By using BilleteraP2P, the user declares that they have read and understood these T&C and agree to be bound by them, this acceptance constituting a valid and binding agreement between the user and BILLETERA DIGITAL P2P INC
If the user does not agree, in whole or in part, with the content of these T&C, they must refrain from accessing, registering, or using the services of BilleteraP2P. The Company shall not be liable for the misuse of the application in case of voluntary or negligent ignorance of these provisions.
Likewise, the user acknowledges and accepts that the Company may modify, update, or supplement these T&C at any time, to ensure regulatory compliance, platform security, and the continuous improvement of services. Such changes will be communicated through the application's official channels and will take effect from their publication. The user's continued use of BilleteraP2P after the disclosure of modifications will be understood as tacit acceptance of them.
3. Nature of the Service
BilleteraP2P is a technological platform that facilitates digital interaction between its users for carrying out exchanges, peer-to-peer (P2P) transfers, digital payments, and complementary operations in a secure, agile, and reliable environment.
The service consists of providing a technological means of connection, through which users can conduct transactions with crypto-assets and other exchange values previously accepted in the application. Under no circumstances does the Company raise funds from the public, manage savings deposits, offer credits, perform financial intermediation, or develop activities reserved for entities under the supervision of the Superintendencia Financiera de Colombia (SFC).
Therefore, BilleteraP2P does not constitute a bank account, demand deposit, savings product, or regulated financial instrument. The funds and values traded in the application correspond exclusively to voluntary operations carried out between users, supported by freely circulating crypto-assets and complementary technological services designed to support the traceability, security, and availability of operations.
The user acknowledges and accepts that the role of BILLETERA DIGITAL P2P INC is that of a technological operator, responsible for providing the digital infrastructure, information security management, and user support, without assuming direct responsibility for the solvency, availability, or compliance of third parties participating in operations conducted within the application.
In line with the above, users are responsible for verifying and validating the operations they carry out on the platform, understanding that the service acts as a technological facilitator and not as a financial intermediary.
4. Registration and User Profile
Access to and use of the platform requires the interested party to complete a registration process where they must provide truthful, complete, accurate, and up-to-date information. The user will be solely responsible for the authenticity and validity of the data provided.
In compliance with Colombian regulations and international best practices in security and risk prevention, the Company may implement identity verification and know-your-customer (KYC) procedures, which include, among others, document validation, verification of information against restrictive lists, and data authentication through technological tools and/or specialized providers.
The user expressly authorizes BILLETERA DIGITAL P2P INC to carry out such verifications to ensure the transparency of operations, prevent fraud, mitigate risks associated with illicit activities, and comply with policies for the prevention of money laundering, terrorist financing (SARLAFT/SAGRILAFT), and other applicable legal or regulatory obligations.
Falsehood, omission, outdated information, or unjustified refusal to provide the required information may lead, at the Company's discretion, to the temporary suspension, restriction of functionalities, or definitive closure of the user's profile, without prejudice to any legal actions that may arise.
Each user is responsible for keeping their contact details, documents, and other information required by the platform updated. Failure to do so may limit access to certain services or the ability to perform operations.
Likewise, the user must create and safeguard their access credentials with strict confidentiality. Any use of the account will be considered as performed by the registered holder, therefore the Company will not assume responsibility for unauthorized access resulting from the user's own negligence or carelessness.
5. User Commitments
By registering and using the services of BilleteraP2P, you declare and expressly accept the following:
  1. Legal Capacity: You confirm that you are of legal age and have full legal capacity to be bound by these Terms and Conditions.
  2. Truthfulness of Information: You guarantee that all information provided in your registration and during the use of the platform is true, complete, accurate, verifiable, and updated, committing to modify it promptly in case of changes.
  3. Lawful Use of the Platform: You will refrain from using the application for illicit, fraudulent, deceptive, or prohibited activities under Colombian law, including but not limited to:
    • Money laundering and terrorist financing.
    • Financial fraud, scams, or identity theft.
    • Commercialization of illegal goods or services.
    • Improper manipulation of prices, currencies, or crypto-assets.
  4. Custody of Credentials: You will be responsible for the administration and confidentiality of your access credentials (username, password, verification codes). Every operation performed from your account will be understood as carried out by you, unless proven otherwise.
  5. Collaboration in Verifications: You commit to collaborate with the identity verification, update, and validation (KYC) processes, as well as with any additional requirements the Company may make in compliance with internal policies and legal or regulatory provisions.
  6. Respect for the Community and the Platform: You will refrain from engaging in conduct that may affect the application's operation, compromise its security, or deteriorate the experience of other users, such as hacking attempts, malware distribution, spam, or any activity that affects the service's stability.
  7. Responsibility for Your Operations: You acknowledge that the operations you conduct through BilleteraP2P are your entire responsibility and that the Company acts solely as a technology provider that facilitates the exchange between users.
  8. Regulatory Compliance: You commit to comply at all times with Colombian laws, applicable regulations on crypto-assets, and these Terms and Conditions.
Non-compliance with any of the above commitments may result, at the Company's discretion, in the temporary suspension, restriction of functionalities, or definitive cancellation of the user account, without prejudice to the corresponding legal actions.
6. Prevention of Illicit Activities
The Company is committed to the prevention, detection, and reporting of operations that may be associated with money laundering, terrorist financing, fraud, and other illicit activities, in accordance with Colombian legal provisions and international compliance standards.
  1. Customer Due Diligence (KYC): The Company may request additional information and documents for identity validation, risk analysis, and user segmentation, both at the initial registration and during the continuous use of the platform.
  2. Monitoring and Control of Operations: All transactions conducted through BilleteraP2P will be subject to internal review and permanent monitoring processes, to identify unusual patterns, atypical amounts, or behaviors that deviate from the user's profile.
  3. Information Update: The user commits to keep the requested information updated and to collaborate in the validation processes. Refusal to provide the required information may result in the temporary or permanent suspension of the account.
  4. Reporting to Authorities: If suspicious operations are detected, the Company may report them to the competent authorities, particularly the Unidad de Información y Análisis Financiero (UIAF), without prior notice to the user, in compliance with current regulations.
  5. Restriction of Operations: The Company may reject, block, or suspend transactions that, in its judgment, may be related to illicit activities or regulatory non-compliance, without this generating any liability on its part.
  6. Inter-institutional Cooperation: The Company will collaborate with judicial, administrative, and control authorities, providing the information required by law.
  7. Ethical Commitment: Both the Company and the users undertake to promote a responsible and transparent use of the platform, protecting the integrity of the digital ecosystem and the community's trust.
7. Security and Fraud
The Company implements technical, human, and administrative security measures at an industrial level, designed to protect personal information, access credentials, and transactions conducted within the platform. These measures include, among others, data encryption, constant monitoring, authentication protocols, and restricted access controls.
In order to safeguard the integrity of the digital ecosystem:
  1. Prevention of Unauthorized Access: Security tools are applied to reduce the risk of unauthorized access, digital identity theft, user impersonation, or information manipulation.
  2. Detection of Suspicious Operations: The Company continuously monitors transactions to identify unusual or potentially fraudulent patterns. If suspicious behavior is detected, the user's account may be suspended or temporarily blocked until the corresponding validations are performed.
  3. Shared Responsibility: While the Company provides advanced protection measures, the user is also responsible for keeping their access credentials confidential, avoiding sharing passwords, and immediately reporting any irregular activity they detect in their account.
  4. Preventive Suspension and Blocking: The Company reserves the right to restrict access, suspend transactions, or block accounts when there are reasonable indications of fraud, misuse of the platform, or non-compliance with these T&C.
  5. Limitation of Liability: The Company shall not be liable for losses caused by user negligence in handling their credentials, by unforeseeable external attacks (such as massive cyber-attacks or global network failures), or by factors inherent to the crypto-asset market that are beyond its control.
With these actions, the Company seeks to guarantee a secure, reliable, and transparent environment, reducing the risks associated with fraud and fostering trust in operations between users.
8. Limitation of Liability
The BilleteraP2P application is a technological service that acts as a digital intermediary and connection channel between users, facilitating exchange operations, P2P transfers, payments, and other functionalities available on the platform. The Company is not a bank, financial entity, trust company, insurer, nor is it authorized to raise public funds under Colombian regulations.
Consequently:
  1. No Interest or Financial Guarantees: The balances reflected in the application do not generate interest, yields, deposit insurance, nor are they covered by protection mechanisms typical of the traditional financial system, such as the Fondo de Garantías de Instituciones Financieras (Fogafín) or other equivalents.
  2. Risks Inherent to Crypto-assets: The user acknowledges that digital assets or crypto-assets are instruments with high volatility, risk of loss of value, regulatory changes, and even restrictions in some countries. The use of BilleteraP2P implies the express acceptance of such risks, releasing the Company from liability for market fluctuations or external eventualities.
  3. User Responsibility: Each user is the sole and exclusive responsible for their usage decisions within the platform, as well as for the truthfulness of the information they provide, the legality of the origin of the funds used, and the security of their access credentials.
  4. Limitation of Damages: The Company shall not be liable for economic losses, indirect damages, lost profits, loss of opportunities, or damages derived from the use of the application, except in cases where there is proven willful misconduct or gross negligence on the part of the Company.
  5. Events Beyond Control: The Company assumes no liability for service interruptions caused by external factors, such as internet network failures, connectivity problems, global cyber-attacks, regulatory decisions, third-party service outages, or force majeure.
  6. Interactions Between Users: Since the platform functions as a peer connection space, the Company is not responsible for the execution, compliance, or eventual conflicts derived from operations between users, although it may intervene with preventive technological support and verification mechanisms.
With this provision, the user declares that they understand and accept that the use of the platform implies individual responsibility and assumption of inherent risks, specific to the nature of digital services and the crypto-asset market.
9. Modification of the T&C
The Company reserves the right to modify, update, or supplement these Terms and Conditions (T&C) at any time, in order to adjust them to technological, regulatory, market, security, or platform operation changes.
  1. Publication and Effective Date:
    1. Any modification will be published on the mobile application, website, or other official channels of the Company.
    2. Modifications will take effect from the date of their publication, unless a different date is expressly indicated.
  2. Notification to Users:
    1. The Company may communicate updates in advance through notifications within the application, registered email, or any other contact medium authorized by the user.
    2. However, publication on official channels will be sufficient for the validity and enforceability of the changes.
  3. Acceptance of Changes:
    1. Continued use of the platform after the publication of changes constitutes express and unreserved acceptance of the new T&C.
    2. If the user does not agree, they must refrain from using the services and may request the cancellation of their profile on the platform, subject to the established withdrawal procedures.
  4. Substantial Changes:
    1. In the case of substantial modifications that imply significant variations in the rights or obligations of users, the Company will endeavor to inform with reasonable advance notice.
    2. Such modifications may be subject to the user's express acceptance before continuing to use certain functionalities.
10. Applicable Regulation
BilleteraP2P and associated services operate in accordance with the laws and regulations of the Republic of Colombia, particularly regarding:
  1. Civil and commercial regulations, which govern the contractual relationships between the Company and users.
  2. Personal data protection regime, in compliance with Law 1581 of 2012, Decree 1377 of 2013, and other applicable provisions on the collection, storage, use, circulation, and deletion of data.
  3. Regulations on electronic commerce and digital services, which recognize the legal validity of contracts, transactions, and communications made by electronic means.
The Company develops its activities under the CIIU code 6311 (data processing, hosting, and related activities), as well as related activities connected to technological, digital, and commercial services, which allows it to offer a platform specialized in the management of peer-to-peer (P2P) operations supported by crypto-assets and other digital mechanisms.
It is important to specify that:
  1. It Does Not Constitute Financial Intermediation: The Company does not act as a bank, financial entity, trust company, stockbroker, cooperative, nor does it raise public funds.
  2. It Is Not Under the Supervision of the Superintendencia Financiera de Colombia: since it does not provide deposit, savings, credit, insurance, or any other product or service reserved for the formal financial system.
  3. Technological and Commercial Focus: The nature of BilleteraP2P is that of a provider of technological digital exchange services, facilitating contact, management, and operations between users, within the applicable legal limits.
  4. Commitment to Legality: The Company commits to maintaining its operations within the Colombian regulatory framework, adapting its practices in case new specific regulations on crypto-assets or digital services are issued by the competent authorities.
In this manner, the user understands and accepts that BilleteraP2P does not replace a financial entity, but rather constitutes a secure and innovative technological alternative for the management and operation of digital assets under a P2P scheme.
11. Intellectual Property
All intellectual and industrial property rights related to BilleteraP2P, including but not limited to: trademark, logo, trade name, software, source code, graphic design, interfaces, databases, technological architecture, manuals, documents, content, methodologies, and any other associated material, are the exclusive property of BILLETERA DIGITAL P2P INC or its respective licensors, where applicable.
The user acknowledges and accepts that:
  1. Reserved Rights: Access and use of the application do not grant the user any property rights over the platform or its components, being limited to a personal, non-exclusive, non-transferable, and revocable right of use according to these T&C.
  2. Prohibitions:
    1. Reproduce, copy, modify, decompile, reverse engineer, distribute, or transform the software and its components.
    2. Use the BilleteraP2P trademark, logo, or trade name for commercial, advertising, or any other purposes not authorized.
    3. Generate derivative platforms, products, or services based on or linked to the Company's intellectual property rights.
  3. Legal Protection: The Company reserves the right to exercise all civil, commercial, administrative, and criminal legal actions to protect its intellectual and industrial property rights against improper or unauthorized uses.
  4. User Content: In case users provide content through the platform (e.g., comments, suggestions, incident reports), these may be used by the Company for service improvement, always within the framework of the law and without generating economic compensation, unless a prior agreement to the contrary exists.
  5. Innovation and Update: The Company reserves the right to update, modify, or incorporate new functionalities into the application, which does not imply a transfer of intellectual property rights to the users.
Consequently, BilleteraP2P reaffirms its commitment to the protection of its intangible assets as a guarantee of quality, security, and trust in the service it provides to the user community.
12. Jurisdiction
  1. Any dispute, controversy, or claim arising from the use of BilleteraP2P, the interpretation, execution, or termination of these Terms and Conditions, will be resolved in accordance with the laws of the Republic of Colombia, before the ordinary Colombian jurisdiction and in the Spanish language.
  2. Territorial Competence: The parties agree that the competent judges and courts of the principal domicile of BILLETERA DIGITAL P2P INC will be responsible for hearing any judicial process related to the application, unless otherwise provided by law.
  3. Waiver of Other Jurisdictions: Users expressly waive any other forum or jurisdiction, national or foreign, that might correspond to them by reason of their domicile, residence, or nationality.
  4. Attempt at Direct Solution: Prior to resorting to judicial instances, the parties will endeavor to resolve their differences through direct communication mechanisms and extrajudicial conciliation at law, to the extent possible, for an agile, efficient, and less costly solution.
  5. Legal Validity: This provision will be applicable even in cases where users access the platform from abroad, recognizing that the service is provided from Colombia and under the Colombian regulatory framework.
This document constitutes the entire agreement between the users and BILLETERA DIGITAL P2P INC regarding the use of BilleteraP2P, prevailing over any prior communication, proposal, or agreement, verbal or written, related to the service. By registering and using the application, the user acknowledges having read, understood, and accepted these Terms and Conditions in their entirety, which will remain in force while the platform is operational and are not modified or replaced by later versions duly published.
In this manner, the user acknowledges and accepts that the T&C are dynamic and evolutionary, and that it is their responsibility to review them periodically to be informed of their updated content.
Legal Team
BILLETERA DIGITAL P2P INC
Incorporation number: BC1549233