Terms & Conditions v6

PLIRO BUY NOW PAY LATER SERVICE TERMS AND CONDITIONS

These Terms and Conditions (the “Terms”, “Agreement”) govern your use of the Pliro Buy Now Pay Later service (the “Pliro Service” or “Service”) provided by Pliro Ltd, a company incorporated in the Republic of Cyprus with registration number [●] and registered office at [●] (“Pliro”, “we”, “us”, “our”).

By selecting Pliro as a payment method at a participating merchant or through our app / online portal, you agree to be bound by these Terms.

Please read these Terms carefully and keep a copy for your records.

1. DEFINITIONS

In these Terms, unless the context requires otherwise:

“Account” means your Pliro customer account, created when you register for the Pliro Service.

“Business Day” means any day (other than Saturday, Sunday or public holiday) on which businesses and payment systems are open in Cyprus.

“Consumer” / “you” / “User” means a natural person over 18 years old acting for purposes outside their trade, business or profession, who uses the Pliro Service.

“Merchant” means any retailer or service provider that offers Pliro as a payment option at checkout.

“Purchase Plan” means a buy-now-pay-later instalment plan created through the Pliro Service for a specific purchase of goods or services, under which Pliro pays the Merchant on your behalf and you repay Pliro in instalments.

“Principal” means the financed amount under a Purchase Plan (i.e. the price of the goods/services funded by Pliro, less any upfront payment you make at checkout).

“Finance Charge” means any interest, service fee, or other cost of credit applicable to a Purchase Plan, as disclosed to you before you confirm the Purchase Plan.

“Delay Charges” means fees charged in case you do not pay instalments when due, as set out in clause 7.4.

“Personal Data” means any information relating to an identified or identifiable natural person.

“Platform” means the channels through which the Pliro Service is offered, including any mobile app, web portal, widget, or checkout integration used to create or manage Purchase Plans.

“Total Amount Payable” means the total of all amounts you must pay under a Purchase Plan (Principal + Finance Charges + any other agreed costs).

Capitalised terms used but not defined here have the meaning given to them elsewhere in these Terms.

2. DESCRIPTION OF THE PLIRO SERVICE

2.1 What Pliro is

Pliro is a non-bank lender that offers a “Buy Now Pay Later” facility at participating Merchants, allowing you to spread the cost of eligible purchases into instalments over a short period (e.g. 3, 6, 9, or up to [●] months).

Pliro is not a bank and does not operate deposit accounts.

Pliro funds purchases directly and you repay Pliro, not the Merchant.

2.2 How it works (high level)

When you choose Pliro at checkout:

We assess your application (automatically and/or manually), including your creditworthiness and affordability.

If approved, we create a Purchase Plan for the relevant transaction.

Pliro pays the Merchant (or confirms to the Merchant that it will pay).

You repay Pliro according to the instalment schedule shown to you before you confirm the Purchase Plan.

2.3 Additional information

Details of the Service, eligibility criteria, and FAQs may be published on our website and/or app.

In case of any inconsistency, these Terms prevail over information in marketing material, FAQs or other non-contractual documents.

3. ELIGIBILITY AND ONBOARDING

3.1 Minimum requirements

To use the Pliro Service you must:

be at least 18 years old;

be resident in Cyprus (or in another country where Pliro operates, if specified at checkout);

act as a consumer (not in the course of a business);

have a valid email address, mobile phone number and identification documents;

have a bank account or payment card in your name in the euro (EUR) currency for repayments.

3.2 Verification and credit assessment

When you register or apply to use Pliro, you agree that we may:

verify your identity and contact details using documentation and/or electronic tools;

request supporting documents (e.g. payslips, bank statements, proof of address);

assess your creditworthiness and affordability using:

information you provide to us,

information we obtain from the Merchant, and

information we are lawfully allowed to obtain from third parties or public sources.

3.3 Refusal or limits

We may, at our discretion:

decline your registration or a specific Purchase Plan;

offer you a lower credit amount than requested;

set or adjust a maximum outstanding limit across all your active Purchase Plans;

deny access to the Service where required by law, internal risk policies or our regulatory obligations.

We are not obliged to disclose the detailed reasons for any rejection where we are not allowed to do so by law or for fraud-prevention purposes.

4. CREATION OF A PURCHASE PLAN

4.1 At checkout

When you choose Pliro at a Merchant checkout (online or in-store), you will be asked to:

confirm the purchase amount to be financed;

select a repayment schedule (e.g. 3/6/9/[●] months), where options may depend on our assessment;

review a summary of key information, including:

Principal,

number and amount of instalments,

Finance Charge (e.g. interest or service fee),

Total Amount Payable,

applicable Delay Charges and other fees.

4.2 Agreement and documentation

Before you confirm the Purchase Plan, we will provide you with:

pre-contractual information required under applicable consumer credit law (e.g. Standard European Consumer Credit Information or equivalent); and

the contractual terms of the Purchase Plan (these Terms and any additional specific conditions).

By clicking “I agree”, “Confirm”, “Pay with Pliro” or a similar button, you:

accept these Terms and the specific Purchase Plan conditions;

authorise Pliro to pay the Merchant on your behalf; and

agree to repay Pliro according to the repayment schedule.

4.3 Payment to the Merchant

Once your Purchase Plan is approved, Pliro will:

pay the Merchant for the financed amount, or

confirm to the Merchant that it will pay according to the commercial agreement between Pliro and the Merchant.

Your payment obligation is then owed to Pliro, not to the Merchant.

4.4 Multiple Purchase Plans

You may have more than one Purchase Plan at the same time, provided that:

you remain within any limit(s) we set; and

your existing Purchase Plans are not in arrears beyond the permitted tolerance.

5. REPAYMENT AND PAYMENT METHODS

5.1 Instalments

Each Purchase Plan is repaid through equal monthly instalments, unless otherwise stated in the specific plan conditions. The due dates and amounts of each instalment will be shown to you before you confirm the Purchase Plan and will be accessible in your Pliro Account.

5.2 Payment methods

You authorise Pliro to collect instalments by one or more of the following methods:

direct debit from your designated bank account;

recurring card payments;

manual bank transfer or card payment made by you through our app / portal;

any other payment method we may support.

You must ensure that:

your chosen payment method is valid and active; and

there are sufficient funds on each due date.

5.3 Allocation of payments

Unless otherwise required by law, we will allocate any payment we receive:

first, to any outstanding Delay Charges and other fees;

second, to Finance Charges (e.g. interest or service fee);

third, to Principal.

6. FINANCE CHARGES, FEES AND APR

6.1 Finance Charges

Each Purchase Plan may be subject to Finance Charges, which may include:

interest calculated on the Principal; and/or

a fixed or percentage service fee.

The applicable Finance Charges will be clearly disclosed at checkout before you confirm the Purchase Plan.

6.2 Illustrative formula (if using a service charge model)

Where a service charge is applied (similar in structure to the example you shared), it may be calculated on the Principal and distributed across instalments. For example:

Service Charge for a Purchase Plan may be calculated as a percentage of the financed amount and spread evenly over the number of instalments, as indicated in the pre-contractual information provided to you.

(You can insert your exact formula and examples under this clause once you finalise the pricing model.)

6.3 Annual Percentage Rate (APR)

Where required by applicable law, we will disclose to you the Annual Percentage Rate (APR) and, where relevant, the Total Amount Payable, based on the assumptions set out in the pre-contractual information.

6.4 Changes to charges

We may not change the Finance Charges for an already-agreed Purchase Plan. We may change charges for future Purchase Plans or for non-credit fees (e.g. administrative fees) in accordance with clause 16.

7. LATE PAYMENTS, DELAY CHARGES AND CONSEQUENCES

7.1 When you are late

You are considered in delay if you do not pay the full instalment amount by the due date.

7.2 Contact and reminders

If you miss a payment, we may:

send you reminders via SMS, email, in-app notification or other contact details you provided;

attempt to collect the overdue amount using your registered payment method(s).

7.3 Delay Charges

In addition to the overdue instalments and any ongoing Finance Charges, we may charge you Delay Charges as follows (you can adjust these amounts to match your policy and legal advice):

€5 per month for each Purchase Plan that remains in delay for up to 60 days;

€20 per month for each Purchase Plan that remains in delay for more than 60 days.

Any Delay Charges will be disclosed in your pre-contractual information and in your Purchase Plan summary.

7.4 Suspension and acceleration

If any Purchase Plan remains in delay:

We may suspend your ability to create new Purchase Plans.

If delay exceeds 30 calendar days, we may:

suspend or restrict your access to the Pliro Service; and

treat all outstanding amounts under the delayed Purchase Plan(s) as immediately due and payable (“acceleration”), to the extent permitted by law.

7.5 Collections and reporting

If you remain in default:

We may use debt collection agencies or lawyers to recover outstanding sums.

We may, where lawful and applicable, report your payment behaviour to credit information sources or databases.

You will be responsible for any reasonable costs incurred in recovering overdue amounts, to the extent permitted by law and disclosed to you in advance or in these Terms.

8. EARLY REPAYMENT AND REFUNDS

8.1 Early repayment

You may repay any Purchase Plan early, in whole or in part, at any time.

Upon early repayment, your Finance Charges will be reduced in accordance with applicable law, reflecting the shorter duration of the credit.

Where permitted by law, we may be entitled to fair and objectively justified compensation for costs directly linked to the early repayment, but this will never exceed the statutory limits (if any).

8.2 How to repay early

You may request early repayment through:

the Pliro app or portal,

our customer support channels, or

by paying the full outstanding balance as displayed for that Purchase Plan.

8.3 Refunds due to product returns

If you cancel or return a product or service purchased using Pliro:

Your contract with the Merchant is between you and the Merchant. Pliro is not a party to the sale contract.

If the Merchant refunds Pliro for all or part of the transaction:

we will apply the refund against your relevant Purchase Plan;

outstanding Principal will be reduced accordingly;

where appropriate, future instalments will be reduced or the plan will be closed, and any overpayment may be refunded to you.

Until we actually receive funds from the Merchant, you must continue paying according to your existing schedule.

If you and the Merchant agree on a refund that exceeds the outstanding balance of the Purchase Plan, we will transfer any surplus to the bank account or payment method you have notified to us.

9. SERVICE LIMITS AND PROHIBITED USES

9.1 Credit limits

We may set:

a maximum credit limit per Purchase Plan (e.g. €[●] minimum – €[●] maximum); and/or

a global limit across all your active Purchase Plans.

These limits may be adjusted periodically based on our internal policies, your usage, and your repayment history.

9.2 Prohibited transactions

You must not use Pliro for purchases related to categories that we consider unsuitable, high-risk or contrary to law or our policies. These may include, for example:

betting and gambling (including lotteries, casinos, horse racing);

purchase of shares or other speculative investments;

pawnshops or similar;

fines, bail or bond payments;

illegal or illicit goods or services;

any other category we may restrict from time to time.

We may refuse and/or reverse a Purchase Plan involving prohibited transactions and may suspend your access to the Service.

10. YOUR RESPONSIBILITIES

When using Pliro you agree to:

provide true, accurate, and complete information and keep it up to date;

use Pliro only for yourself and not on behalf of third parties;

ensure your contact details and payment methods are current;

use the Service only in compliance with applicable law;

notify us immediately of any suspicious or unauthorised use of your Pliro Account.

You agree to indemnify and hold Pliro harmless from any loss, damage, or cost arising from:

your breach of these Terms;

misuse of the Service; or

provision of false or misleading information, to the extent permitted by applicable law.

11. PLIRO’S LIABILITY AND RELATIONSHIP WITH MERCHANTS

11.1 No responsibility for goods or services

Pliro:

does not design, manufacture, supply, deliver, or warrant any products or services you purchase;

is not responsible for their quality, safety, fitness for purpose, delivery or any defects.

Any issues relating to the purchased goods or services must be resolved directly with the Merchant.

11.2 Limitation of liability

To the extent permitted by law, Pliro shall not be liable for:

loss of profits, loss of business, or indirect or consequential losses;

losses due to inaccuracies in price or product information provided by Merchants;

losses arising from downtime, technical errors, or system failures beyond our reasonable control.

Nothing in these Terms limits or excludes liability that cannot legally be limited or excluded (for example, liability for death or personal injury caused by negligence, or for fraud).

12. SECURITY AND UNAUTHORISED USE

12.1 Account security

You must:

keep your login details and any one-time passcodes secure;

not share your credentials with anyone;

ensure devices used to access the Service are secure (e.g. PIN, biometrics).

Any use of your Account with correct credentials will be treated as use by you, unless we have reason to believe otherwise.

12.2 If you suspect misuse

If you suspect that:

someone else has access to your Pliro Account; or

there has been unauthorised use of your Account,

you must notify us immediately using the contact details in clause 19 so that we can block or protect your Account.

13. RIGHT OF WITHDRAWAL (COOLING-OFF PERIOD)

13.1 Statutory withdrawal

Where required by applicable consumer credit law, you have the right to withdraw from a Purchase Plan within 14 days from:

the day of conclusion of that Purchase Plan; or

the day you receive the contractual terms and information, whichever is later.

13.2 How to withdraw

To exercise your right of withdrawal, you must send us a clear statement (e.g. letter or email) using the contact details in clause 19, identifying the Purchase Plan you wish to withdraw from.

13.3 Consequences of withdrawal

If you withdraw:

you must repay the Principal (and any interest accrued from the drawdown date to the repayment date, if applicable) without undue delay, and no later than 30 days after notifying us of your withdrawal;

we will not charge you any other fees, except any non-refundable fees paid by us to public authorities as allowed by law (if applicable).

Withdrawal from a Purchase Plan does not in itself cancel your underlying purchase contract with the Merchant (e.g. your rights to return goods). That is governed by your agreement with the Merchant.

14. DURATION, TERMINATION AND SUSPENSION

14.1 Duration

These Terms apply from the moment you first use or register for the Pliro Service and remain in force until terminated by you or by us.

14.2 Termination by you

You may terminate your use of the Pliro Service at any time by:

contacting us through the channels listed in clause 19; or

using the account closure option (if available in our app/portal),

provided that:

all outstanding amounts under your Purchase Plans have been fully repaid.

14.3 Termination or suspension by Pliro

We may suspend or terminate your access to the Pliro Service:

by giving you at least two (2) months’ notice, or

immediately where:

you are in material breach of these Terms (including persistent non-payment);

we suspect fraud, misuse, or unauthorised access;

required for legal, regulatory, or security reasons (e.g. AML, sanctions).

Suspension or termination does not affect your obligation to repay any outstanding amounts.

14.4 Effects of termination

Upon termination:

you will no longer be able to create new Purchase Plans;

your existing Purchase Plans will continue until fully repaid or otherwise settled in accordance with these Terms and applicable law.

Any provisions which by their nature should continue after termination (e.g. payment obligations, limitation of liability, governing law) shall remain in force.

15. PERSONAL DATA AND PRIVACY

Pliro processes your Personal Data in accordance with:

applicable data protection laws, including the EU General Data Protection Regulation (GDPR); and

Pliro’s Privacy Notice, which explains what data we collect, why we collect it, how we use it, and your rights.

Our Privacy Notice is provided to you during registration and is available on our website at [insert link]. Please read it carefully.

16. CHANGES TO THESE TERMS

16.1 When we may change the Terms

We may amend these Terms, including fees and service features, to reflect:

legal or regulatory changes;

security or technical developments;

changes in our products or services;

changes in market conditions or our business.

16.2 Notice of changes

We will notify you of any proposed change on a durable medium (e.g. email, in-app message) at least:

60 days before the change takes effect, where required by law; or

within a reasonable period, where earlier notice is not required or where the change is clearly in your favour.

16.3 Your right to reject changes

If you do not accept the proposed changes:

you may terminate your use of the Pliro Service free of charge before the effective date of the change, provided all outstanding amounts are repaid;

if you continue using the Service after the effective date, you will be deemed to have accepted the changes.

Changes will not affect existing Purchase Plans already concluded, unless the change is required by law or is clearly beneficial to you and does not alter the essential characteristics of the credit.

17. COMPLIANCE, SANCTIONS AND ANTI-MONEY LAUNDERING

We may:

delay, block or refuse to process any transaction or Purchase Plan; and/or

suspend or terminate your access to the Service,

where this is necessary for us to comply with:

anti-money laundering and counter-terrorist financing laws;

international sanctions and restrictive measures;

any other applicable laws or regulatory requirements.

If you or a related party becomes subject to sanctions or restrictive measures, we may be required to take actions such as freezing or closing Purchase Plans where permitted or required by law.

18. ASSIGNMENT

You may not assign or transfer your rights or obligations under these Terms without our prior written consent.

We may assign or transfer our rights and/or obligations under these Terms (for example, to another lender or within our group) provided that such assignment does not reduce your rights under applicable law. We will notify you of any such assignment where required by law.

19. CONTACT AND COMMUNICATION

If you have questions, suspect unauthorised use, or wish to submit a request or complaint, you can contact us at:

Address: Pliro Ltd, [●]

Telephone: [●]

Email: [●]

Website / App: [●]

We will communicate with you in English and/or Greek, using any of:

email,

SMS,

in-app notifications,

letters sent to your last known postal address.

You must inform us promptly of any change to your contact details.

20. COMPLAINTS AND DISPUTE RESOLUTION

20.1 Complaints to Pliro

If you are not satisfied with any aspect of the Pliro Service, please contact us using the details in clause 19.

Include:

your full name;

contact details;

details of the Purchase Plan (if applicable);

a description of your complaint.

We will:

acknowledge receipt of your complaint within a reasonable time; and

provide a response or update within the time limits set by applicable law and regulatory guidance.

20.2 Out-of-court dispute resolution

If you are not satisfied with our final response, you may have the right to refer your complaint to:

the Financial Ombudsman of the Republic of Cyprus, or

any other competent alternative dispute resolution body, in accordance with applicable law.

The contact details and conditions for access to the Financial Ombudsman can be found on its official website.

Your right to bring proceedings before the competent courts is not affected.

21. SEVERABILITY

If any provision of these Terms is found to be invalid, unlawful, or unenforceable, the remaining provisions shall continue in full force and effect.

22. WAIVER

Our failure or delay in exercising any right or remedy under these Terms does not constitute a waiver of that or any other right or remedy.

Any waiver must be in writing and signed by an authorised representative of Pliro.

23. GOVERNING LAW AND JURISDICTION

These Terms and any non-contractual obligations arising out of or in connection with them shall be governed by and construed in accordance with the laws of the Republic of Cyprus.

The courts of the Republic of Cyprus shall have exclusive (or, if you prefer, non-exclusive) jurisdiction to hear any disputes arising out of or in connection with these Terms, without prejudice to any mandatory rights you may have as a consumer to bring proceedings in your country of residence.

24. USER DECLARATION

By using the Pliro Service and confirming a Purchase Plan, you declare that:

you have read, understood and accepted these Terms;

you are acting as a consumer and not for business purposes;

all information you have provided is true and accurate;

you understand that you are entering into a credit agreement with Pliro and that you must repay all amounts due according to the agreed schedule.