PayPal Refund Policy
The SatoshiPay Refund Policy for digital asset purchases via PayPal is laid down in this document. SatoshiPay is an innovative micro-payment service offering a frictionless way to pay for content on the internet. Producers and publishers of digital content choose SatoshiPay to sell individual and even partial pieces of their content (digital goods) in return for small digital cash payments from their users. SatoshiPay relies on blockchain technology to transfer payments directly from customers to content providers. SatoshiPay builds on top of blockchain or distributed ledger technologies to lower overall transaction costs, without taking custody of user funds.
The Service is developed and operated by SatoshiPay Ltd (we, our or us). We are registered in England and Wales under registration number 09366948, and our registered office is at Hill Dickinson Llp, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW, United Kingdom. Our principal of business is at Hill Dickinson Llp, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW, United Kingdom. You can contact us by writing to the business address given above or by email to firstname.lastname@example.org.
In general, the PayPal Buyer Protection protects the Buyer if an item purchased has not been shipped (“Item Not Received” or “INR”) or if a shipped item is significantly not as described by the Seller (“SNAD”); see Section 3 below for details.
As soon as the Buyer files a Claim for PayPal Buyer Protection, PayPal will review the Claim and may ask both Buyer and the Seller to provide additional information to settle the case.
Your opposing party for claims under the PayPal Buyer Protection Policy is in all cases
PayPal (Europe) S.à r.l. et Cie, S.C.A. 22-24 Boulevard Royal L-2449 Luxembourg
(referred to as "PayPal").
2. Risks of digital currencies
The SatoshiPay Service enables internet users to purchase digital goods with small amounts of cryptocurrency such as Bitcoin or other, referred to as SatoshiPay Credit. Users that do not have any cryptocurrencies already in their possession can buy small amounts through convenient payment methods such as Paypal from SatoshiPay. The conversion of classical (“fiat”) currency held by such users into cryptocurrencies can come with certain risks attached. The main risks in terms of Buyer Protection are exchange rate fluctuations and network congestion. Both may lead to friction in the customer experience. How those risks are handled by SatoshiPay is carried out in more detail in Section 3.
3. Covered Cases
3.1. Items not Received
Should your SatoshiPay Credit not be received in your SatoshiPay Browser Wallet within 24 hours (in words: twenty four) after purchase, we will refund you the original purchase price, assumed all conditions of the PayPal Buyer Protection Policy program are met. SatoshiPay does not issue refunds beyond the original (fiat) purchase price. Especially, SatoshiPay does not issue refunds based on a possible increase in value the purchased amount of cryptocurrency might have appreciated in the time after the purchase order has been placed.
3.2. Items Significantly Not As Described
The units of account of the digital currencies used by SatoshiPay (e.g. Bitcoin), are perfectly equal and therefore interchangeable. A variation in the quality is not possible. The exchange rate between the Buyer’s fiat currency and the respective cryptocurrency used by SatoshiPay is fixed at the time when the Buyer reaches the purchase confirmation page. Any fluctuations in the exchange rate before or after this moment are insignificant.
4. PayPal Buyer Protection
Disputes arising out of purchasing small amounts of bitcoin from SatoshiPay through PayPal can either be resolved directly with SatoshiPay or through filing a PayPal Buyer Protection Claim; however, please note that if you opt to resolve the issue directly with SatoshiPay, your right to raise a Claim under Buyer Protection remains subject to the requirements and timeframes set out in the PayPal Buyer Protection Policy and that it is your responsibility to keep track of these requirements and deadlines.