Valid from: 1 January 2025 Version: 1.0
This is a translation. In the event of any discrepancies, the original Swedish version shall prevail.
GreenMerc Finance AB, org. no. 559387-1394 (“GreenMerc”, “we”, “us”) is a payment institution authorised by the Swedish Financial Supervisory Authority (Finansinspektionen) to provide payment services in accordance with the Act (2010:751) on Payment Services (“Payment Services Act”).
FI Institution Number: 71301
Contact: support@greenmerc.com
Complaints: klagomal@greenmerc.com
These general terms and conditions (“Terms”) apply to all users of GreenMerc's digital services (“Platform”), including consumers and businesses, and regulate:
Use of the Platform, including utilisation of the payment services provided by GreenMerc, requires acceptance of the Terms.
1.1 The Terms regulate the rights and obligations between GreenMerc and the user of the Platform (“User”).
1.2 The Terms constitute a framework agreement and are supplemented by:
1.3 In the event of conflict, the following order of precedence applies:
2.1 Payment services: GreenMerc acts as a payment service provider and provides payment services in accordance with the Payment Services Act.
2.2 Credit intermediation (if applicable): GreenMerc may provide digital administration and intermediation functions related to credit arrangements between credit providers and borrowers.
2.3 GreenMerc is not a bank and does not provide financial advice unless expressly agreed separately with a clear advisory framework.
2.4 GreenMerc is not a party to credit agreements that may have been intermediated by GreenMerc.
3.1 Certain legal provisions are mandatory in favour of consumers. If you are a consumer and a provision in the Terms restricts a mandatory right, the law applies.
3.2 For businesses (B2B), certain terms may be non-mandatory. If special B2B terms are agreed, they take precedence over these Terms.
In the Terms, the following terms mean:
5.1 An agreement is formed when the User registers an account, digitally accepts the Terms, or uses the Platform.
5.2 Electronic approvals, signatures, and messages via the Platform are valid and binding under Swedish law.
6.1 GreenMerc conducts customer due diligence (KYC) and monitoring in accordance with the law on measures against money laundering and terrorist financing and internal governing documents.
6.2 The User must provide accurate and complete information as requested by GreenMerc at any time and promptly update GreenMerc on any changes to previously provided information.
6.3 GreenMerc may request additional documentation (e.g., identity documents, company documents, information on beneficial owners, origin of funds). Failure by the User to provide such additional documentation or information may result in restrictions or termination of the services provided by GreenMerc.
7.1 GreenMerc may require strong customer authentication (SCA), security measures, transaction limits, and additional verification.
7.2 The User is responsible for protecting login credentials, devices, and authentication methods. Suspected unauthorised access must be reported immediately.
8.1 GreenMerc provides via the Platform payment services that may include (depending on user flow):
8.2 The exact scope is evident from the Platform's functions, instructions, and any service-specific terms.
9.1 If GreenMerc holds Client Funds in connection with providing payment services, this is done solely on the User's behalf.
9.2 GreenMerc may hold Client Funds for a maximum of 30 days, unless otherwise required by law, regulatory requirements, or expressly agreed in individual cases (e.g., reconciliation/refund process).
9.3 GreenMerc implements protective measures for Client Funds in accordance with the Payment Services Act, such as keeping Client Funds separate from its own funds in a dedicated Client Account.
9.4 Client Funds may not be used for GreenMerc's own obligations and are accounted for separately to the extent required by law.
10.1 The User submits payment orders via the Platform in accordance with the indicated flows.
10.2 The time when a payment order is deemed received (“receipt time”) is determined according to the Platform's instructions and applicable regulations.
10.3 Revocation of a payment order may be possible until the order becomes irrevocable under the Payment Services Act or is technically executed. What applies is evident from the Platform's flow.
10.4 GreenMerc may, at its own discretion and without prior notice to the User, refuse, pause, or withhold a payment for security, compliance, or risk reasons (see section 14).
11.1 Fees are stated in the Platform's price list or in connection with the transaction.
11.2 If currency exchange occurs, the exchange rate or calculation basis must be evident in the relevant flow.
11.3 GreenMerc may amend fees and terms in accordance with section 25.
12.1 If the User suspects an unauthorised or incorrect transaction, the User must contact GreenMerc without delay and follow instructions for blocking/investigation.
12.2 The right to demand correction/refund may be subject to time limits under the Payment Services Act (as a starting point, no later than 13 months from the debit date, unless the law provides otherwise).
12.3 GreenMerc's liability, as well as any liability of the User in case of negligence or fraudulent conduct, follows the Payment Services Act and cannot be restricted where mandatory rules apply.
13.1 In the event of refund of Client Funds (e.g., aborted transaction, rejected payment, cancelled project), the refund is made to the designated account/identifier according to the Platform's instructions, after completed checks.
13.2 In “pass-through” flows, GreenMerc forwards funds without holding them longer than necessary to execute the payment transaction.
14.1 GreenMerc may block the User's account or transactions if justified by security reasons, suspected unauthorised use, investigation, or suspicion of money laundering or terrorist financing, sanctions, regulatory decisions, or similar.
14.2 GreenMerc may introduce amount limits, time limits, additional verification, and other protections.
15.1 GreenMerc may provide digital functions enabling Borrowers to apply for financing and Credit Providers to enter into credit agreements with Borrowers.
15.2 GreenMerc then typically acts as an administrative/technical coordinator and may handle documentation, information flows, reconciliation, payment distribution, and record-keeping.
16.1 Information on the Platform may include reviews, summaries, and checks (“due diligence”) but does not constitute advice or guarantee.
16.2 Credit Providers make their own decisions and are responsible for risk assessment and suitability.
16.3 GreenMerc is not liable for the Borrower's future ability to pay or the accuracy of information from the Borrower/third party, to the extent liability does not follow from mandatory law.
17.1 Credit agreements are concluded between the Credit Provider and the Borrower according to the respective project's terms (if applicable).
17.2 Payout may be conditional on, among other things, signing, fulfilled collateral, KYC/AML, as well as internal and regulatory checks.
18.1 GreenMerc may administer payment distribution according to the payment plan and agreed terms.
18.2 In case of delay, reminders, debt collection, and legal measures may be initiated according to contractual documentation and law.
18.3 Costs may be charged to the Borrower according to the agreement and applicable law.
The User shall:
It is prohibited to:
21.1 GreenMerc processes personal data to provide payment services, comply with requirements on measures against money laundering and terrorist financing, prevent fraud, fulfil other legal obligations, and handle customer support.
21.2 Personal data may be shared with suppliers, banks/payment partners, authorities, and advisors when required for service execution or legal requirements.
21.3 More information is available in GreenMerc's privacy policy.
22.1 GreenMerc treats business-sensitive information confidentially, except in situations where disclosure is required by law, authority, court, or to protect rights and prevent crime.
23.1 The Platform is provided as is. Planned maintenance and operational disruptions may occur.
23.2 GreenMerc is not liable for errors due to the User's equipment, internet provider, or third-party systems outside GreenMerc's control.
24.1 For payment services, liability allocation follows the Payment Services Act. Nothing in the Terms shall be interpreted as GreenMerc limiting liability contrary to mandatory law.
24.2 For other services (e.g., credit-related administration), GreenMerc is liable only for direct damage caused by negligence on GreenMerc's part, subject to mandatory law.
24.3 GreenMerc is not liable for indirect damages (e.g., lost profits), unless mandatory law provides otherwise.
25.1 GreenMerc may amend the Terms for reasons such as legislative changes, supervisory authority requirements, security, risk management, service development, etc.
25.2 Amendments to the Terms shall be notified to the User at least two months before entry into force via the Platform and/or email. Users who do not accept an amendment may immediately terminate the agreement with GreenMerc, which also means termination of the User's ability to use the Platform.
26.1 The User may terminate their account according to the Platform's instructions, provided outstanding obligations are settled.
26.2 GreenMerc may restrict or terminate the account/service in cases such as the User's failure to provide required customer due diligence information, suspicion of money laundering or terrorist financing, suspicion of misuse of the Platform or payment services provided by GreenMerc, breach of contract, inactivity, or regulatory reasons.
26.3 Termination does not affect rights/obligations that remain under law or individual agreements.
27.1 The User may submit complaints to GreenMerc's complaints function: contact.
27.2 GreenMerc handles complaints promptly and in a documented manner.
27.3 If the User is not satisfied, the User may turn to the National Board for Consumer Disputes (ARN) (for consumers) and/or the Swedish Financial Supervisory Authority, and always to a general court.
28.1 This agreement shall be governed by Swedish law.
28.2 Disputes shall be settled by a Swedish court with the Stockholm District Court as the first instance, unless mandatory consumer rules give the User the right to bring action in another competent court.
29.1 If a provision is invalid, it does not affect the validity of the remaining provisions.
29.2 Headings are for structure only.