Yotta Pay brand ambassador referral program
Terms and Conditions (edition 1.0, valid since publishing on January 2022)
1. General terms and conditions
Yotta Pay brand ambassador referral program regulates business relationships between Yotta Digital Ltd, trading name Yotta Pay, providing services as Yotta Pay software application available to download at AppStore and PlayStore and Ambassador(s), should the Yotta Pay application user choose to act as such.
The goal of the referral program is recommending Yotta Pay services to Ambassador’s network so members of such a network can download the Yotta Pay application, choose a business subscription plan, and use the application for their business, accepting contactless cashless payments from their clients. Yotta Digital Ltd is committing hereby to provide Ambassador with the monetary remuneration according to these Terms and Conditions.
2. Who can become an ambassador and how it works
Any Yotta Pay user is eligible to participate in the brand ambassador referral program. To start this, one should open menu "More", than click on "Ambassador" to access the personal referral link. This link can be shared via any electronic media so members of the network of the Ambassador can download the Yotta Pay app through the referral link. Once a new user has downloaded the Yotta Pay app and aggregated their bank account, this user becomes Ambassador’s Referral User, and Ambassador is entitled to relevant remuneration depending on the pattern of Referral User’s usage of the Yotta Pay app.
Ambassador is entitled to a three - stages remuneration for each of the Referral User. This will allow Ambassadors with different types of network to maximize their returns, acquiring both Peer-to-Peer users on Friends and Family free subscription plan and Business users on business subscription.
Stage one - Referral User Download. Referral User is qualified as Download once they download the app and run through the registration process including UK bank account aggregation and first opening of Yotta Pay App home screen. Remuneration for this type of referral is £1.00, and is paid only and exclusively in batches of £20.00 for each 20 Referral Users acquired by the Ambassador.
Stage two - Referral User Business Starter. Referral User is qualified as Business Starter once they activate any Business subscription (including Pay As You Go plan) and receive three genuine business payments on their account. Referral User must also represent a genuine business, whether it is a registered company or charity organisation or a self-employed person. Remuneration for this type of referral is £5.00, and is paid per Referral User acquired by the Ambassador.
Stage three - Referral User Business Account. Referral User is qualified as Business Starter once they activate any Business subscription (including Pay As You Go plan) and use Yotta Pay as a regular payment processing facility for their business. Referral User must also represent a genuine business, whether it is a registered company or charity organisation or a self-employed person. Remuneration for this type of referral is £50.00, and is paid per Referral User acquired by the Ambassador.
4.Referral User acquisition and remuneration payment
Yotta Digital Ltd provides an internal administration of Referral User acquisition by Ambassador. Once acquisition is counted by Yotta Digital algorithms, the Ambassador receives a relevant notification by his Yotta Pay app, and this information is also reflected on the ambassador page of the app, which can be accessed by the ‘More’ menu. Relevant information of Referral User qualification for Business Starter category or Business Account category will be delivered to Ambassador both via push notification and Ambassador page update in the Yotta Pay app.
Remuneration payments will be paid into the ambassador's bank account connected to the Yotta Pay app at the moment of payment. Ambassadors should take every precaution to ensure their connected bank account is valid and operational. Yotta Digital Ltd does not accept any responsibility for damages and liabilities arising from Ambassador having connected an incorrect account to the Yotta Pay app.
All remuneration payments are processed within five working days after relevant qualification of the Referral Users.
5. Remuneration offer’s validity period
Remuneration offered in these Terms and Conditions is valid until changed or terminated by Yotta Digital Ltd with 24 hours notice. Such changes will not happen very often, and Yotta Digital Ltd will take every step to announce coming changes as early as possible.
To avoid misunderstandings, Ambassador should check this web page regularly, especially before running extensive campaigns. Referral User will be counted for the remuneration purposes by the time they are qualified as Referral User download.
If Referral User is qualified as Business Starter or Business Account later, after remuneration policy and prices were changed by Yotta Digital Ltd, Ambassador is still liable to receive remuneration according to the rules and prices valid on the moment of qualification of the particular Referral User as a Referral User Download.
6. Extra remuneration and Ambassador’s status
Ambassadors are eligible to earn extra remuneration for Business Account Referral User acquisition according to the Ambassador’s status based on the number of Business Account Referral Users acquired.
- Ambassador Status: 0-10 Business Account Users; no extra remuneration.
- Bronze Status: 11-40 Business Account Users; £5 per account.
- Silver Status: 41-100 Business Account Users; £10 per account.
- Gold Status: 101+ Business Account Users; £15 per account.
Extra status remuneration is paid solely and exclusively in batches per 10 Business Accounts acquired, e.g. if the Ambassador has 19 Business Accounts acquired they are not eligible for payment, if the Ambassador has 20 Business Accounts acquired they are eligible to receive £50.
Extra remuneration is fully independent of normal remuneration as stated in Paragraph 3 of these Terms and Conditions, which is being paid separately.
7. Genuine Business Starter and Business Account acquisition declaration
Yotta Digital Ltd will take every possible step to qualify Referral Users for Business Starter and Business Account categories as soon as it is practically possible after relevant usage pattern has been recorded by Yotta Digital Ltd algorithms. Stage two qualification will normally be announced in 5 working days time after such recording, stage three qualification will normally take 10 working days to process. Usage patterns sufficient for such qualifications can be different, and Yotta Digital Ltd will be constantly working to improve its algorithms to ensure genuine business users are acquired by Ambassadors as quickly as possible and relevant remuneration will be processed.
8. Ambassadors good intention declaration and appeal process
Ambassadors will promote Yotta Pay services in a genuine way for the sake of new genuine users, both Peer-to-Peer and Business, use Yotta Pay services in a true way. Ambassadors will never set up, or corroborate with third parties to set up, any special man-made or machine-made algorithms intended solely and specifically for receiving of remuneration and creating Referral Users accounts without their genuine intention to use Yotta Pay app for payment services in the future.
Yotta Digital Ltd reserves the right to audit the process of promotion and deny remuneration should any abuse of the Referral Program be found.
In these cases Yotta Digital Ltd fully reserves the right to deny remuneration and to exclude Ambassadors from the Referral Program.
Should Ambassador believe that any particular Referral User was not qualified or acquired correctly, they may file a complaint to: firstname.lastname@example.org.
9. Yotta Digital Ltd details
Yotta Digital Ltd, 1 Plasmarl terrace, Swansea, Wales, SA6 8LU, reg no 12195240