Terms and Conditions
QR Payments
These terms and conditions ("Terms and Conditions") describe the conditions of use of the QR payment product ("QR payment"), which allows merchant Users ("The Merchant") to offer consumer Users ("Consumer"), together referred to as the "Users", the ability to make payments for products and/or services of EL Comercio by scanning the QR Code offered by El Dorado (the "Service").
The use of the Service implies the express acceptance of El Dorado's General Terms and Conditions of Use, as modified by these Conditions of Use. Any aspect not regulated in these terms and conditions will be subject to the provisions of the General Terms and Conditions of El Dorado.
1. What does the service consist of?
The Service will allow Users to receive or make payments for goods and/or services offered by the Merchant by scanning QR Codes available in their account at El Dorado. To make the payment, the Consumer must scan the QR Code to directly initiate the transfer of the amount due to acquire the good or service.
The Merchant must print or display the QR Code from its mobile application in its Account (accessible via the profile or through the free send option via El Dorado Pay) so that the Consumer can scan it using the El Dorado App and enter the payment amount. The Merchant may also configure the QR Code with a specific amount so that, when scanned, the amount is preconfigured.
If the Consumer does not have sufficient funds in their El Dorado wallet, the transaction will be rejected by El Dorado without any liability, releasing the Consumer from any claim or damage that may arise due to insufficient funds.
The Merchant will receive a receipt for the transaction once it is successfully completed. The receipt will include the amount received, the status, the Consumer user who sent the stablecoins, the transaction date, and a description of the transaction.
2. QR Code Generation
To use the QR Code, Users must:
3. Collection and Payment Operations with QR Code
3.1. Collection and Payment for the Sale of Goods and/or Provision of Services
Users expressly accept and agree to comply with the general terms and conditions applicable to El Dorado, as well as with any relationship between the Merchant and the Consumer. They understand that the exchange between stable cryptocurrencies and the goods and services offered is direct, with El Dorado acting solely as a facilitator.
El Dorado will not be liable under any circumstances for errors made by the Consumer when verifying the payment amount. It is the Consumer’s sole responsibility to verify both the amount to be sent via El Dorado Pay and the username to which the payment is directed. If an incorrect amount is sent, both Users must resolve the issue directly without El Dorado's intervention.
3.2. Periods for Accreditation and Settlement of the Funds
Stablecoins derived from QR Code payment transactions will be available immediately in the Merchant's Dorado Account.
4. Rates
El Dorado reserves the right to charge a fee for payment facilitation services. The applicable fee will be disclosed in this document and at the time of the transaction.
5. QR Code Communication
The Merchant must place the QR Code in a visible location, preferably next to the cash register, so that Consumers can easily scan it. Additionally, visible notices should be placed (including at the entrance of the establishment, if applicable) indicating that payments made to third parties who fraudulently attempt to offer QR Codes other than the designated one will not be valid.
6. Policy on Correct Use of Trademarks and Intellectual Property
El Dorado is the owner of the intellectual property rights provided to the User for the provision of the Service.
In disseminating, promoting, and using the QR Code, the Merchant is required to use only the logos, banners, and other promotional materials supplied by El Dorado. The Merchant shall refrain from using banners or logos designed by itself and/or by third parties, or any other promotional material that utilizes El Dorado's intellectual property, without prior written authorization from El Dorado. The use of the Service by the User does not imply the transfer of any such intellectual property rights.
7. User Responsibility
Users are solely and exclusively responsible for their use of the Service, including any damages arising therefrom.
The Merchant expressly accepts and undertakes to use the QR Code only for the purpose of receiving payments for the sale of goods and/or the provision of services offered or marketed by it. The Consumer expressly accepts and undertakes to use the QR Code only for making payments for goods and/or services purchased or contracted. Users agree not to use the QR Code for any purposes other than those provided for in these Terms of Use.
The Merchant is solely responsible for its business activities—whether commercial, professional, services, work, content, goods, or services offered in physical or online stores—and must ensure that these activities do not fall within any prohibited areas as defined by El Dorado's Terms and Conditions of Use.
The Consumer may not use the QR Code to purchase or contract any goods or services that are prohibited under El Dorado's Terms and Conditions of Use.
The User agrees to comply with applicable laws and regulations, as well as with any rules for using the QR Code issued by El Dorado at any time.
Users will be responsible for any tax or fiscal charges arising from their use of the Service. El Dorado is not obligated to issue receipts or invoices of any kind for transactions.
8. El Dorado Declarations
8.1
In no event will El Dorado be liable for loss of profits or any other damage and/or loss suffered by Users as a result of transactions carried out or not carried out through the Service.
8.2
Users’ access to the QR Code reader depends on third-party services (such as internet and mobile data services, among others). The User acknowledges that El Dorado is not responsible for the performance of these third-party services. In particular, the User accepts that the internet connection required for the operation of the QR Code reader is solely their responsibility.
8.3
El Dorado assumes no obligation to maintain the QR Code reader in a usable condition for all operating environments, including, but not limited to, interoperability with all current and/or future versions of software or hardware.
8.4
El Dorado is not responsible for any damages suffered by the User or any third party as a result of improper and/or unauthorized use of the QR Code. Should any third party initiate any claim or legal, administrative, or extrajudicial action against El Dorado, its shareholders, controlling companies, controlled companies, affiliates or subsidiaries, officers, employees, directors, agents, or representatives as a result of the User’s use of the QR Code, the User agrees to hold harmless El Dorado and its related parties. The User expressly accepts that El Dorado may debit from the funds in their Account (existing or future) any amount owed as compensation for damages, thereby waiving any claim against El Dorado.
9. Modification of the Conditions of Use of the QR Code
El Dorado may modify the QR Code Terms of Use at any time by publishing an updated version of these terms and conditions on the site, with the date of the last modification indicated. All modified terms will take effect 5 (five) business days after publication.
10. Jurisdiction and Applicable Law
This agreement shall be governed by the laws in force in the Republic of El Salvador. Any dispute arising from this agreement—including its existence, validity, interpretation, scope, or compliance—shall be submitted to the national commercial courts based in the City of San Salvador, with an express waiver of any other jurisdiction.
11. El Dorado as a Payment Service Provider
El Dorado offers payment services and is not authorized to operate as a financial institution. El Dorado does not provide the User with any banking services. The funds deposited in the account do not constitute deposits in a financial institution, nor do they enjoy any of the guarantees that such deposits may have under applicable legislation and regulations.
12. Processing of Personal Data
The provisions of El Dorado's general Terms and Conditions of Use shall apply in this regard.
Modification date: February 10, 2025