1. Definitions

The terms below, when capitalized in these Terms and Conditions ("T&Cs"), have the following meaning, whether used in the singular or plural:

Kresus / Service Provider: Kresus Technologies SAS, a simplified joint-stock company (SAS) with share capital of €18,189.79, registered in the Lyon Trade and Companies Register under number 882 884 554, whose registered office is located at 20 Boulevard Eugène Deruelle, 69432 Lyon Cedex 03, France. Kresus Technologies SAS is not a bank and is not itself authorised as an Electronic Money Institution or Payment Institution. Payment and e-money services distributed through the Platform are operated by regulated partner institutions as set out in Section 4 and in the Legal notice.

Platform: the SaaS web application operated by Kresus and accessible at getkresus.com, through which the Services are delivered. The Platform comprises all interfaces, dashboards, APIs, and tools made available to Clients and their Users.

Kresus Pay: the card-to-account deferred debit payment solution enabling Clients to pay their suppliers via virtual card, with a configurable deferred settlement period of up to 90 days. Kresus Pay operates without requiring supplier enrollment and preserves full confidentiality of the payment terms.

Kresus Purchase: the indirect spend management solution enabling Clients to centralize purchase requests, manage approval workflows, and settle expenditure via virtual card or bank transfer within a unified platform.

Service(s): Kresus Pay and/or Kresus Purchase, as subscribed to by the Client, together with any related features, updates, and support made available through the Platform.

Client: any legal entity — including banks, financial institutions, card issuers, and corporate organizations — that has entered into a subscription agreement with Kresus for access to one or more Services.

User: any natural person authorized by the Client to access and use the Platform on behalf of the Client, including administrators, finance teams, procurement teams, and any other designated personnel.

Subscription: the annual access contract entered into between Kresus and the Client, granting the Client and its Users access to the subscribed Service(s) for a defined term, subject to payment of the applicable fees.

Transaction: any payment or financial operation initiated through the Platform by a Client or User in connection with the Services, including but not limited to virtual card payments and bank transfers.

Transaction Commission: the variable fee applied to each Transaction processed through the Platform, the rate and terms of which are defined in the commercial agreement entered into between Kresus and the Client.

Contract: the entirety of the contractual documents governing the relationship between Kresus and the Client, comprising these T&Cs, the applicable commercial agreement (including Subscription fees and Transaction Commission terms), and the Privacy Policy.

2. Purpose and scope

2.1 Purpose

These T&Cs govern access to and use of the Platform and the Services by any Client and their authorized Users. They form an integral part of the Contract and apply to all interactions with the Platform from the moment the Client activates their account.

Any Client or User who accesses the Platform acknowledges having read and accepted these T&Cs in their entirety. If the Client does not accept these T&Cs, they must refrain from accessing or using the Platform.

2.2 Professional use only

The Services are intended exclusively for professional use by legal entities acting in the course of their commercial, financial, or industrial activities. The Platform is not accessible to consumers within the meaning of applicable consumer protection legislation. By subscribing to the Services, the Client confirms that it is acting as a professional.

2.3 Modifications

Kresus reserves the right to update these T&Cs at any time, in particular to reflect changes in applicable law, regulatory requirements, or the evolution of the Services. Clients will be notified of any material modification by email or via a notice on the Platform, with reasonable advance notice before the changes take effect. Continued use of the Platform following such notification constitutes acceptance of the updated T&Cs. If the Client does not accept the modifications, it may terminate the Subscription in accordance with article 11.

3. Access to the Platform

3.1 Account creation

Access to the Platform requires the creation of an account by the Client. Upon execution of the commercial agreement, Kresus will provision the Client's account and provide access credentials to the designated administrator. The Client is responsible for ensuring that all information provided during registration is accurate, complete, and kept up to date.

3.2 User access

The Client may create User accounts for its authorized personnel, subject to the number of seats included in the applicable Subscription. Each User is identified by a unique login and password, which they set upon first access. Users are personal and non-transferable. The Client is responsible for managing User access rights and for revoking access promptly when a User's authorization ends.

3.3 Eligibility

Access to the Platform is granted subject to eligibility criteria assessed by Kresus at the time of contracting. Kresus reserves the right to decline or limit access to any entity that does not meet its eligibility requirements, including compliance, regulatory, or risk-related criteria. Specific eligibility conditions may apply depending on the Service(s) subscribed to and the Client's profile.

3.4 Account suspension

Kresus reserves the right to suspend or restrict access to the Platform, without prior notice, in the event of: (i) a material breach by the Client or any of its Users of these T&Cs; (ii) reasonable suspicion of unauthorized access or fraudulent use; (iii) failure to pay amounts due under the Subscription; or (iv) any situation that Kresus reasonably considers to present a risk to the integrity, security, or availability of the Platform. Kresus will notify the Client of any suspension as soon as reasonably practicable, unless such notification is prevented by legal or regulatory constraints.

4. Description of the Services

4.1 Kresus Pay

Kresus Pay enables Clients to optimize their working capital by settling supplier invoices via virtual card with deferred debit, for a period configurable up to 90 days. Key features include:

4.2 Kresus Purchase

Kresus Purchase enables Clients to centralize and control their indirect spend through a unified procurement and payment workflow. Key features include:

4.3 Payment and e-money services — regulated partners

Kresus Technologies SAS is not a bank, and is not itself authorised as an Electronic Money Institution or Payment Institution. The payment and electronic-money services distributed through the Platform — including the issuance of virtual cards, account balances, payment execution, foreign-exchange and settlement — are operated by regulated partner institutions acting as the authorised provider for those services:

Use of those services is subject to acceptance of the terms of use of the relevant regulated partner, in addition to these T&Cs. Currencycloud Terms of Use are available at currencycloud.com/legal/terms. The terms of use of Okali and other partners are communicated to the Client at onboarding.

Funds held on behalf of End-Clients are safeguarded by the regulated partner that operates the service, in accordance with applicable regulations. They are not covered by any deposit-guarantee scheme (such as the FSCS in the UK, the FGDR in France, or the Dutch Deposit Guarantee Scheme). See the Safeguarding page for the full explanation. Complaints relating to payment and e-money services are handled through the procedure set out on the Complaints page, with external recourse available through the ombudsman applicable to the partner that operates the service (Kifid for CurrencyCloud B.V., Financial Ombudsman Service for The Currency Cloud Limited, New York DFS for Visa Global Services Inc.).

4.4 Platform availability

Kresus commits to maintaining a minimum Platform availability rate of 99% on a monthly basis (excluding scheduled maintenance), measured during business hours from Monday to Friday, 8:30 a.m. to 6:00 p.m. CET, excluding French public holidays. Scheduled maintenance will be communicated to Clients at least 48 hours in advance. Unavailability due to circumstances beyond Kresus's reasonable control — including force majeure events, third-party infrastructure failures, or telecommunications outages — shall not count against this availability commitment.

4.5 Service evolution

Kresus may add, modify, or discontinue features of the Platform at its discretion, provided that such changes do not materially degrade the core functionality of the subscribed Service(s). Kresus will use reasonable efforts to notify Clients of significant changes in advance.

5. Financial conditions

5.1 Subscription fees

Access to the Platform is subject to an annual Subscription fee, the amount of which is set out in the commercial agreement between Kresus and the Client. The Subscription fee covers access to the subscribed Service(s) for all authorized Users, platform maintenance, and standard support, for the duration of the Subscription term. The annual Subscription fee is invoiced at the start of each subscription period and is due within the payment terms specified in the commercial agreement.

5.2 Transaction Commissions

In addition to the Subscription fee, each Transaction processed through the Platform is subject to a Transaction Commission. The applicable rate and calculation basis are defined individually in the commercial agreement, and may vary depending on the Service(s) used, the Client's volume, the payment instrument, the currency, and other contextual factors agreed at the time of contracting. Transaction Commissions are invoiced periodically as agreed in the commercial agreement.

5.3 Price revisions

Kresus reserves the right to revise Subscription fees and Transaction Commission rates at each annual renewal, subject to prior written notice of at least 60 days before the renewal date. In the event of a price increase, the Client may choose not to renew the Subscription in accordance with article 11.

5.4 Late payment

Any amount not paid by its due date shall automatically bear interest at a rate of three times the French statutory interest rate, without the need for prior notice. Kresus also reserves the right to suspend access to the Platform in the event of non-payment beyond 15 days after a formal notice has remained unanswered.

5.5 Taxes

All fees are exclusive of applicable taxes (including VAT), which shall be charged additionally in accordance with applicable law.

6. Client and User obligations

6.1 Authorized use

The Client and its Users undertake to use the Platform strictly in accordance with these T&Cs, the Contract, and applicable laws and regulations. The Platform must not be used for any unlawful, fraudulent, or abusive purpose, nor in any way that could damage, disable, or impair the Platform or its infrastructure, or interfere with other clients' use of the Services.

6.2 Accuracy of information

The Client is responsible for ensuring that all information, data, and documents submitted to the Platform are accurate, complete, and valid at the time of submission. The Client shall promptly notify Kresus of any error, inaccuracy, or change in the information provided. Kresus does not verify the substance or accuracy of data entered by Clients and bears no liability for decisions made on the basis of inaccurate or incomplete information.

6.3 Compliance

The Client is solely responsible for ensuring that its use of the Services complies with all applicable laws and regulations, including those relating to payments, anti-money laundering, sanctions screening, data protection, and corporate governance. The Client undertakes to implement all necessary internal controls in this regard.

6.4 Reporting obligations

The Client undertakes to notify Kresus without delay of any anomaly, disruption, or suspected breach in connection with the Platform or the Services, via the contact details below. Kresus will use its best efforts to address reported issues as quickly as possible, taking into account the severity of the situation.

Contact — France Email: contact@getkresus.com
Phone: +33 7 56 90 71 43
Address: Kresus Technologies SAS, 20 Boulevard Eugène Deruelle, 69432 Lyon Cedex 03

7. Security

7.1 Credential security

Each User is responsible for maintaining the confidentiality of their login credentials. Credentials must not be shared, transferred, or disclosed to any third party. In the event of loss, suspected compromise, or unauthorized use of credentials, the User must immediately notify Kresus and their Client administrator, and update their credentials without delay. Kresus shall not be liable for any damage resulting from the unauthorized use of credentials that were not promptly reported.

7.2 Client infrastructure

The Client is responsible for the security and configuration of the devices and network infrastructure used to access the Platform, including protection against malware, unauthorized access, and other security threats. Kresus shall not be held liable for security incidents originating from the Client's environment.

7.3 Kresus security measures

Kresus implements industry-standard technical and organizational security measures to protect the Platform and the data it processes, including encryption in transit and at rest, access controls, audit logging, and regular security assessments. Kresus is ISO 27001 certified and operates as an official partner of Visa and Mastercard within their respective compliance frameworks.

7.4 Incident response

In the event of a security incident affecting the Platform or Client data, Kresus will notify affected Clients without undue delay and will take all reasonable measures to contain the incident, assess its impact, and restore normal service as quickly as possible.

8. Intellectual property

8.1 Kresus intellectual property

All intellectual property rights relating to the Platform, the Services, and their underlying technology — including software, algorithms, interfaces, trademarks, logos, and documentation — are and remain the exclusive property of Kresus or its licensors. The Subscription grants the Client a limited, non-exclusive, non-transferable right to access and use the Platform solely for the Client's internal business purposes, for the duration of the Subscription and in accordance with these T&Cs. No other rights are granted.

8.2 Client data

The Client retains ownership of all data it submits to the Platform. Kresus is granted a limited license to process Client data solely for the purpose of providing the Services and fulfilling its obligations under the Contract. Kresus does not use Client data for its own commercial purposes or share it with third parties, except as required for the delivery of the Services or as required by law.

8.3 Feedback

If the Client or its Users provide suggestions, feedback, or recommendations regarding the Platform or the Services, Kresus may freely use such feedback to improve its products without any obligation of compensation or attribution to the Client.

8.4 Brand authorization

Kresus may reference the Client's name and logo in its commercial materials, case studies, and partner communications, unless the Client expressly objects in writing. The Client may likewise refer to its use of Kresus products in its own communications, subject to compliance with Kresus brand guidelines.

9. Liability

9.1 Obligation of means

Kresus commits to delivering the Services with reasonable care and skill, in accordance with industry standards. The Services are provided as a means-obligation (obligation de moyens): Kresus does not guarantee any specific outcome or result from the use of the Platform, including in respect of payment success rates, working capital optimization, or cost savings.

9.2 Limitation of liability

To the fullest extent permitted by applicable law, Kresus's total liability to the Client in connection with the Contract — whether arising in contract, tort, or otherwise — shall not exceed the total amount of Subscription fees paid by the Client to Kresus in the twelve (12) months preceding the event giving rise to the claim. Kresus shall not be liable for any indirect, incidental, consequential, or punitive damages, including loss of profits, loss of data, or reputational damage, even if advised of the possibility of such damages.

9.3 Exclusions

The limitations set out in article 9.2 do not apply in cases of willful misconduct (dol) or gross negligence (faute lourde) on the part of Kresus, nor to any liability that cannot be excluded or limited under applicable law.

9.4 Client responsibility for data

Kresus bears no liability for the accuracy, completeness, or validity of data submitted to the Platform by Clients or Users. The Client is solely responsible for all consequences arising from the submission of inaccurate, incomplete, or unauthorized data.

9.5 Force majeure

Neither party shall be liable for any failure or delay in performing its obligations under the Contract to the extent that such failure or delay is caused by circumstances beyond its reasonable control, including acts of God, government action, war, cyberattacks affecting third-party infrastructure, or failures of telecommunications networks. The affected party shall notify the other party without delay and shall use reasonable efforts to mitigate the impact of the force majeure event.

10. Data protection and confidentiality

10.1 Personal data

Each party shall comply with applicable data protection regulations, including the General Data Protection Regulation (GDPR) and French Law No. 78-17 of 6 January 1978. Kresus processes personal data relating to Users and, where applicable, to the Client's suppliers and counterparties, as a data processor acting on the instructions of the Client (data controller). The terms and conditions of such processing are set out in Kresus's Privacy Policy, available at getkresus.com/data-privacy.

10.2 Confidentiality

Each party undertakes to keep strictly confidential all non-public information received from the other party in connection with the Contract ("Confidential Information"), and to use such information solely for the purposes of the Contract. Each party shall restrict access to Confidential Information to those of its employees and subcontractors who need it for the performance of the Contract, and shall ensure that such persons are bound by equivalent confidentiality obligations. The confidentiality obligation set out in this article shall survive the termination or expiry of the Contract for a period of five (5) years.

10.3 Subprocessors and third-party integrations

Kresus engages subprocessors and third-party service providers in the delivery of the Services. These include, in particular, the regulated payment and e-money partners identified in Section 4.3 — CurrencyCloud B.V., Okali, The Currency Cloud Limited and Visa Global Services Inc. — as well as cloud hosting and content-delivery providers, customer support and CRM tools, transactional email providers, and card processors and card scheme technical operators. An up-to-date list of subprocessors is maintained in the Privacy Policy (available at getkresus.com/data-privacy) and additional detail is available upon written request. Kresus ensures that all subprocessors are bound by data protection and confidentiality obligations equivalent to those set out in these T&Cs and the applicable data processing agreement.

Data protection contact Email: contact@getkresus.com
Address: Kresus Technologies SAS, 20 Boulevard Eugène Deruelle, 69432 Lyon Cedex 03

11. Termination, cancellation and refunds

11.1 Subscription term

The Subscription enters into force on the date specified in the commercial agreement and is entered into for an initial period of one (1) year. It shall automatically renew for successive one-year periods unless either party gives written notice of non-renewal at least 60 days before the end of the then-current term.

11.2 Termination for cause

Either party may terminate the Contract with immediate effect by written notice in the event of a material breach by the other party that remains unremedied for 30 days following written notice of such breach. In addition, Kresus may terminate the Contract immediately in cases of fraud, unauthorized use of the Platform, non-payment, or any regulatory requirement to do so.

11.3 Effects of termination

Upon termination or expiry of the Subscription: (i) the Client's and its Users' access to the Platform shall be revoked; (ii) all amounts owed by the Client shall become immediately due and payable; (iii) each party shall, upon request, return or destroy the other party's Confidential Information. Kresus will make Client data available for export for a period of 30 days following termination, after which it may be deleted in accordance with Kresus's data retention policy. Termination shall not affect any rights or obligations that have accrued prior to the termination date.

11.4 Closure of the payment account

The Client may request the closure of its Kresus payment account (opened in the books of Okali, the regulated Electronic Money Institution identified in Section 4.3 and in the Legal notice) at any time by sending a written request to contact@getkresus.com. In accordance with Article L.312-1-7 of the French Monetary and Financial Code, closure is processed free of charge. Any credit balance remaining on the payment account at the time of closure is returned to the Client by SEPA bank transfer to an external account held in the Client's name, without additional fee. In practice, Kresus payment accounts are operated on a zero-balance basis — incoming funds are matched by an outgoing transfer of the same amount — so a residual balance is uncommon.

11.5 Subscription refunds

The annual Subscription fee is non-refundable in the event of termination initiated by the Client prior to the end of the then-current annual term, including termination for convenience or non-renewal served after the 60-day notice window. By way of exception, where Kresus terminates the Contract for a reason that is not attributable to a breach, fault or non-payment of the Client — including a unilateral decision by Kresus to discontinue the Service — the Client is entitled to a refund of the unused portion of the Subscription fee, calculated on a pro rata temporis basis from the effective termination date to the end of the paid period. Transaction Commissions already invoiced for Transactions executed prior to termination are not refundable.

11.6 Disputing a payment transaction

The Client may dispute a payment transaction executed through the Platform by contacting Kresus without undue delay, and in any event within the timeframes required by applicable payment-services regulations (Directive (EU) 2015/2366 — PSD2 — as transposed into French law). The detailed procedure, information to provide, and processing timeframes are set out in the Payment Account Convention (Annex 1 of the signed commercial agreement, section Contestation d'une opération de paiement). Complaints relating to the handling of a dispute are managed through the Complaints procedure.

11.7 Unauthorised payment operations

Where a payment operation has been executed without the Client's consent (unauthorised operation), the Client is entitled to a refund of the amount of the unauthorised operation in accordance with Articles L.133-18 and following of the French Monetary and Financial Code, subject to the conditions and exceptions set out therein — in particular where the unauthorised operation results from gross negligence, fraud, or a failure of the Client to meet its obligations to preserve the confidentiality of its authentication credentials. The refund procedure, applicable timeframes, and allocation of liability are detailed in the Payment Account Convention (Annex 1).

11.8 Service availability (SLA) remedies

The Kresus Essential SLA described in the commercial agreement is an obligation of means. Where the Service availability target is not met during a given month, no service credit, refund, penalty, or financial compensation is due to the Client in respect of the SLA shortfall itself, in line with the SLA policy set out in the commercial agreement. The Client's remedies in such cases are limited to the termination-for-cause mechanism of Section 11.2 where the breach is material and persistent, and to the general liability framework of Section 9. An Enhanced SLA, where separately subscribed, may provide for different arrangements, as specified in the applicable annex.

11.9 Right to terminate upon modification of the terms

Where Kresus notifies the Client of a material modification to these T&Cs, to the Payment Account Convention, or to the applicable pricing conditions, the Client has the right to refuse the modification and to terminate the Contract free of any charge by sending a written notice to contact@getkresus.com before the effective date of the modification. In such case, the Service is maintained under the pre-existing terms until the effective termination date, and no early-termination fee or penalty applies.

12. General provisions

12.1 Governing law and jurisdiction

The Contract is governed by French law. In the event of a dispute arising out of or in connection with the Contract, the parties shall first endeavor to resolve the matter amicably. Failing an amicable resolution within 30 days, any dispute shall be submitted to the exclusive jurisdiction of the courts of Lyon, France, unless mandatory provisions of applicable law require otherwise.

12.2 Communications

Any formal notice or communication under the Contract shall be made in writing and delivered by registered letter with acknowledgment of receipt, or by email with confirmed delivery, to the contact details set out in the commercial agreement or notified in writing from time to time.

12.3 Severability

If any provision of the Contract is found to be invalid, unlawful, or unenforceable under applicable law, it shall be modified to the minimum extent necessary to make it valid and enforceable, or, if modification is not possible, severed from the Contract. The remaining provisions shall continue in full force and effect.

12.4 Assignment

Kresus may assign all or part of its rights and obligations under the Contract to any affiliate, or in connection with a merger, acquisition, or sale of all or substantially all of the assets of Kresus Technologies SAS, without the Client's prior consent. The Client may not assign any of its rights or obligations under the Contract without Kresus's prior written consent.

12.5 Entire agreement

The Contract constitutes the entire agreement between the parties with respect to its subject matter and supersedes all prior negotiations, representations, or agreements relating thereto. In the event of any conflict between these T&Cs and the commercial agreement, the terms of the commercial agreement shall prevail.

12.6 No waiver

The failure of either party to enforce any provision of the Contract at any time shall not be construed as a waiver of that party's right to enforce such provision or any other provision at a later date.

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