EULA - Say hello to Settle®

Terms and Conditions for Settle

Version 1.2 - 07.01.2020


Terms and Conditions for Settle

Version 1.2 - 07.01.2020

Terms and Conditions for Settle

About the service


The agreement and parties

What is needed to use Settle?

Use of Settle

What can you use Settle for?

Registration, identification and amount limits

Balance in Settle



Domestic and International Payments

Domestic payments

International Payments

Recurring Payments

Payment request

Rejection of payment orders


Payment transaction errors

Responsibility for payment orders, purchase of goods and services, and payment of bills

Complaints and reversal of amounts

Your responsibility

Correct information

Personal code, PIN and security

Lost or stolen mobile phone

Legitimate use

Consequences of improper use

Abuse of Settle

Customer Control

Electronic communication

General provisions

Duration and termination

Changes to the Agreement

Temporary validity of obligation

Contact us

Dispute settlement

Licenses and supervision

  1. About the service

Settle is a payment application (hereinafter referred to as "Settle", "Application" or "Service") provided by Auka AS (hereinafter referred to as "Auka", "we" or "us") which can be downloaded and installed on mobile phones as mobile application. All currently available features of Settle can be found at (“Website”). Note that Settle can have different features and prices depending on what is your Home Country and where you are located when using the Service.

  1. Agreement

  1. The agreement and parties

This Agreement consists of the terms and conditions stated herein, including our Privacy Policy (collectively defined as the "Agreement"). In addition to the terms of this Agreement, relevant prevailing statutory provisions of Norwegian law and the provisions of law of the country of your current residence apply (“Home Country”). The parties to the Agreement are you as a customer and Auka AS as the provider of the Service (with its registered seat at Tordenskiolds Gate 8, 0160 Oslo, Norway, company No. 995 073 064).

  1. What is needed to use Settle?

All of the terms and conditions stated below must be met in order for you to use Settle:

  • You must have a mobile phone to which you can download and install the Application
  • You must have a valid mobile phone number issued in your Home Country
  • If you are under the legal age to enroll for the Service and enter into an Agreement, you must obtain the consent of your parents or guardians and they must set up the Settle Account for you. You can only use Settle to transact with funds you have at your own disposal
  • You must provide us with consent to access funds that you wish to use for the execution of transactions. This includes funds in bank accounts you have at your disposal, payment cards issued in your name, prepaid account or another credit source (collectively called "Funding Source").
  • You must have familiarized yourself with and accepted this Agreement
  • You must complete the enrollment resulting in a Settle user being created (“Settle Account / Profile / User”)
  • Auka must accept you as a customer

  1. Use of Settle

  1. What can you use Settle for?

Settle is a payment application that contains many services and features. You can send and receive money with both individuals and Merchants in a variety of ways, share data, view account balance and more. The features you have access to will depend on your Home Country, age, if your identity is verified or not, which Funding Source you have connected to the Service, who you interact with on the Service, which mobile phone you use and what risk the action you undertake is considered to have according to Auka.

  1. Registration, identification and amount limits

Before you can use Settle, you must download and install the Settle application, create a Settle Account, verify your phone number and, when required, verify your identity. On our Website you will find the current transaction thresholds and limits. Depending on your Home Country and other conditions used to determine risk, you may find that payments cannot be made even if the amount you wish to transfer or request to receive is below the published limit. The limits are adjusted dynamically to increase security and reduce the risk of any illegal activity.

If you send money to a mobile number that is not linked to a Settle user, we will send an SMS invitation to that number with the payment information. The recipient has 24 hours to create a Settle user in order to accept the payment. If the recipient does not create a Settle user, the transaction is reversed and the funds are automatically returned to you.

  1. Balance in Settle

In the Application, you can see how much money you have available on the various Funding Sources you have connected to the Service (hereinafter "Balance"). Balance on your Settle Account is automatically displayed. Balance on your bank account is displayed assuming you have given us access to the account by agreeing that we may access the balance and transaction history and that we have technical access to this information at your bank. Technical access to your bank account requires:

  • that we have an agreement with your bank and / or
  • that we can connect to the bank through interfaces made available under applicable law and regulation, and in both cases
  • that you are identified and / or authenticated in a way that such information can be retrieved and displayed in the Service.

  1. Pricing

Settle can charge you for the use of the Service. Settle may have different prices depending on your Home Country and where you are located when using the Service. Prices can be found on our Website. When executing a payment, or using any other paid feature or service, you will be informed of the applicable price in the Application. By making the payment or using other feature or service, you consent to pay the declared price. If you subscribe to a service from Auka, you will be notified in advance of any price change. Note that payments made with a Funding Source connected to Settle provided by a third party (such as a payment card, credit or bank account) may incur additional costs as agreed between you and the Funding Source provider.

  1. Transactions

When you create a payment order in Settle, you authorise Auka to carry out the payment on your behalf. Equally, when you receive a payment request, and you approve this, you authorise Auka to carry out the payment on your behalf.

  1. Domestic and International Payments

With Settle you may send and receive money to or from individuals or Merchants. If the sender and recipient belong to the same Home Country, the payment is defined as domestic (“Domestic Payment”). If the sender and recipient belongs to different countries, the payment is defined as international (“International Payment”).

  1. Domestic payments

Payment to an individual is made by specifying the recipient's mobile number, the amount you wish to pay, and the Funding Source that you wish to use, or by accepting a payment request. You must ensure that the mobile number of the recipient is correct. When you use Settle to pay to an individual, your name, phone number and any messages you send to the recipient may be shown to them. Your name and / or mobile number may also be displayed on bank statements and transaction overviews as provided by your Funding Source operator and by the Funding Source operator of the recipient.

Payment to entities (hereinafter "Merchant") is performed by the recipient being set in one of the following ways:

  • You search for the name of the Merchant in the Application
  • You select the Merchant from a list in the Application
  • You scan the QR code of the Merchant with the Application
  • You click the Settle button presented by the Merchant
  • Merchant sends a payment request to your mobile number

You must check that the Merchant and the amount are correct before performing a payment or approving a payment request. When you pay with Settle to a Merchant, you are anonymous, unless you choose to share additional data. The payment is given a unique transaction ID that is shared with the Merchant along with any messages you send to the Merchant, including if applicable what goods or services you have ordered.

  1. International Payments

Performing International Payments is the same as performing a Domestic Payment with the following exceptions:

  • When paying to an individual you need to specify the recipients mobile phone number including the correct country code
  • When paying to an individual you need to choose what currency the recipient will receive and accept the fee for the currency conversion where applicable
  • When paying to a Merchant you must accept to pay in the currency that is accepted by the Merchant and accept the fee for the currency conversion where applicable

  1. Recurring Payments

Merchants may offer you to pay repeatedly for goods or services based on an agreement between you and the Merchant (hereinafter "Recurring Payments"). When agreeing to Recurring Payments you will be promoted in the Application to accept the terms set forth by the Merchant, approving the Merchant to charge you an agreed amount, or within a range, at an agreed or unrestricted interval without the need for additional approval from you. Auka does not play any role in the agreement between you and the Merchant. Overview of Recurring Payments that you have agreed to, the ability to edit such permissions and withdraw your consent to further Recurring Payments being made are available in the Application. We are not responsible for any stopped, missing or delayed delivery of goods or services you are supposed to pay for using Recurring Payments. This also applies if there is an error in the Service, resulting in payments due to be made, could not be performed at the agreed time.

  1. Payment request

With Settle, you can request a payment from other Settle users (hereinafter "Payment Request"). Abuse of access to Payment Requests will be considered a material breach of the Agreement, which entitles us to terminate your access to Settle. In the Application you can block other Settle users from sending you Payment Requests and other Settle users may block you.

  1. Rejection of payment orders

We may reject a payment order if the law or contractual terms for executing the payment order are not met. For example, we will reject a payment order in the event of a lack of funds in the Funding Source, and in cases of suspicion of abuse, fraud, money laundering or attempts of any of these. Users are not permitted to use Settle for any activity that is outside of the acceptable use policy, as defined by Auka at any given time on the Website. This limitation comes in addition to the limitations set forth in Norwegian law, the law of your Home Country, and the law in the Home Country of the recipient of a payment, when applicable. If such use is suspected, we will reject the payment order. Any abuse as described in this provision or suspicion thereof may be regarded as a material breach of contract which entitles us to terminate your access to Settle and terminate this Agreement. If there is legal access to do so, you will receive information that your payment order has been declined and what you can do to correct the matter so that the payment order may be executed.

  1. Refunds

If you pay for a product or service with Settle but you have an agreement with the seller, for the purchase to be refunded, the amount may be returned to your Settle Account or the Funding Source you charged depending on whether it supports the return of funds or not. Refunds are limited to the amount that was originally paid, and in any case in accordance with what the Merchant agrees to refund. For the avoidance of doubt, we are not responsible for providing refunds for products or services that you have not received, are unhappy with or in any other way wish to return or make a warranty claim for. These issues are regulated between you and the Merchant from whom your purchased products and/or services.

  1. Payment transaction errors

Once you have made a payment order, confirmed a payment request or such payment request is automatically confirmed as part of a Recurring Payment, the payment is final and you cannot revoke it. If you believe that an executed payment order was not approved (authorized) by you in accordance with this Agreement, you must exercise the right of appeal described in the Agreement. If you received a Settle payment due to an error, we may correct this error by charging your Funding Source by the end of the third business day after the error occurred. In other respects, improper credentials or charges due to Settle's own circumstances are regulated by the rules in sections 31 and 32 of the Norwegian Financial Contracts Act.

  1. Responsibility for payment orders, purchase of goods and services, and payment of bills

We will process payments in accordance with the orders you have made in Settle. If there is an error in connection with the execution of an order, we shall correct the error and cover your loss with the limitations that follow from sections 40, 41 and 42 of the Norwegian Financial Contracts Act. We cannot be held liable for losses due to circumstances beyond our control and which we could not predict or avoid the consequences of. Errors or delays caused by telecommunications network failures or unforeseen failures of other third party systems necessary for Settle to operate, will always be considered as such.

Settle is liable for the direct loss from transactions executed by Settle on your behalf if such transactions was not approved (authorized) by you, if the conditions for such liability are fulfilled pursuant to section 35 of the Norwegian Financial Contracts Act.

We are not responsible for any errors you may have made when you place a payment order in Settle. We are not responsible for the entry of wrong recipient, wrong phone number, wrong amount, or similar errors.

If you believe that we are responsible for errors in a payment order, you must contact us and appeal in accordance with the requirements set in this Agreement. If you believe that we are responsible for errors in a Payment Request you received via Settle, you must first contact the issuer of this Payment Request directly. Once you initiate or make a payment in Settle, you will receive a confirmation or error message for the payment in the Application.

Settle payment confirmation is not a purchase receipt. When you buy goods or services, it is the seller who is responsible for any faults and defects thereof, not us. If you have purchased a product or service with Settle, the seller is responsible for giving you a valid receipt for the purchase. We assume no responsibility for the legitimacy of Merchants, fundraisers or charities although they choose to accept or request payments with Settle.

  1. Complaints and reversal of amounts

If you believe that Settle has made a payment that you have not authorized, you must notify us. The rules for such complaints are regulated in sections 34-37 of the Norwegian Financial Contracts Act.

These rules can be summarized as follows:

  • You must protect codes that allow access to Settle. If you become aware that unauthorized persons have access to Application, or unauthorized use of the Service you must inform us as soon as possible.
  • We have to prove that the payment order, or payment request as the case may be, was made by you by ways of using the Application and the codes required, and not the result of a technical failure or other error.
  • In certain cases, you may claim the transaction amount refunded. Such a claim must be placed as soon as possible and no later than 13 months after the payment was made.
  • If you require the money to be returned, Settle may bring the case before the Finance Services Complaints Board or a court.
  • Even if you have not approved the payment, you may have to cover part of the loss yourself. Your deductible is normally EUR 120 if the PIN code or other personal security device in Settle is used, but can increase to EUR 1,200 if you have been grossly negligent.
  • If the transaction you made was made intentionally, you must cover the entire loss yourself. This also applies if you have intentionally failed to protect the PIN or other personal security device that provides access to Settle.

if you are granted a reversal in accordance with these rules, Settle may still claim the money back at a later date, if Settle can prove, at any time later, that you in fact approved the payment.

  1. Your responsibility

  1. Correct information

You are responsible for ensuring that the information you provide about yourself is complete, accurate and up-to-date. If your information changes, it is your responsibility to update it in the Application or notify us of any relevant changes in writing. It is your responsibility that you, for example, state your correct name and surname, address, email address, telephone number, card number and account number. You are solely responsible for ensuring that the recipient's mobile phone number is correct when you pay to an individual and that the Merchant is the correct recipient when paying to entities.

  1. Personal code, PIN and security

When you enroll as a Settle user, you must select a personal identification number (hereinafter "PIN") which you will use to login to Settle. Your PIN must consist of at least 4 digits, and must not be similar to any other code, PIN or password, such as the one you have associated with your payment card or your mobile phone. Settle reserves the right to deny the use of certain alphanumeric combinations for PIN, and we also reserve the right to request that you change your PIN including its length and complexity.

Settle is a service for personal use only, and you do not, under any circumstances, entrust or grant access to your Settle User, PIN or Application to anyone else. This includes Auka employees and official Settle staff or representatives. If anyone asks you to provide information that can be used to access Settle, consider this as an attempted fraud, refuse to disclose the information, and report the event to us, via the formal support channels announced on our Website without undue delay.

  1. Lost or stolen mobile phone

If your mobile phone is stolen, lost, or you suspect unauthorized use of Settle, please notify us as soon as possible. When such notification has been given, we will block your Settle Account and ensure access to the Service is restricted until further notice.

  1. Legitimate use

You cannot use Settle in a way that is in violation with this agreement, or in a way that breaches Norwegian law, the law of your Home Country or laws in the country you are located when using the Service. If you wish to use Settle for accepting payments as an entity, you must enter into a separate agreement governing this with Settle (“Merchant Agreement”). The use of Settle acting on behalf of an entity, or otherwise accepting payments or using the Service as a Merchant without a Merchant Agreement is considered a major breach of the Agreement.

Using settle in a way that increases the perceived or actual risk of money laundering, for example for buying crypto currency, performing large or frequent cash withdrawals or transferring unusual amounts at unusual frequencies to the same or unusual recipients, may result in your Settle user and associated funds being frozen by Auka. Your user may also be blocked by Auka if your use of the Service is perceived as offensive or harassing to other Settle users, for example, if other users are receiving inappropriate messages from you. If you use Settle on a jailbroken or ‘rooted’ device you accept that using Settle on a phone modified in this way creates the risk of misuse and compromise of the information you enter into the Application. Auka will consider the use of Settle on a phone that is jailbroken or ‘rooted’ as a serious breach of the Agreement, herunder that you willfully have exposed yourself to the risk of having PIN and all other information related to the Service exposed to third parties, dramatically impacting your liability in a case of misuse.

  1. Consequences of improper use

If we have reason to believe that you are using Settle in violation of law or this Agreement, we have the right to suspend your use of Settle temporarily. If the violation is not stopped immediately or the use constitutes a material breach of the Agreement, Settle is entitled to terminate the Agreement. We have no obligation to notify you before the Agreement is terminated, but we will endeavor to give you notice and opportunity to rectify the matter if possible.

  1. Abuse of Settle

You are liable for up to EUR 120 for any loss due to unauthorized payments resulting from use of a lost or stolen payment instrument, such as Settle. The same applies to payment transactions due to unauthorized acquisition of a payment instrument if you have failed to protect the personal security procedure and it has been used.

You are liable for up to EUR 1,200 in unauthorized payment transactions if the loss is due to the fact that you have failed to fulfill one or more of your obligations as stated in the Agreement. If the loss is due to your gross negligence or you have intentionally failed to fulfill the obligations under this Agreement, you shall cover the entire loss. The same applies if the loss is due to the fact that you have acted fraudulently.

Your liability under this clause may be reduced in accordance with the provisions of section 36 of the Norwegian Finance Contracts Act in case Settle fails to meet sound standards and the unauthorized use is related thereto. You are not liable for any losses incurred after Settle has been notified and your Settle user is blocked.

  1. Customer Control

We are obliged by law to carry out customer control, survey and investigate all customers and transactions in an effort to reduce risk and avoid money laundering, terror financing, fraud and criminal use of the Service (“Customer Control”). Such efforts may be manual and automated, and you agree to aid us in such efforts by sharing requested information about yourself, others, and where applicable, your own or others' use of the Service, including but not limited to information on specific transactions, payees, your relationship with them, what the payment is for and whether you have or plan to take a position or enter into a relationship that might categorize you as a politically exposed person. If you fail to provide us with the necessary information in connection with our Customer Control or that satisfactory Customer Control cannot be carried out for other reasons, we may terminate the Agreement with immediate effect.

  1. Electronic communication

By entering into this Agreement, you agree that the Agreement and any applicable amendments to it may be communicated and entered into electronically. You agree that we may communicate with you directly in the Application and via the electronic communication channels available to us based on the contact information provided by you, such as mobile phone number and email.

  1. General provisions

  1. Duration and termination

The Agreement is in force for as long as we offer Settle. We may choose to stop providing the Service with two (2) months notice. We may also terminate this Agreement without any specific reason with two (2) months notice. Notice is not required and termination may happen immediately, if you breach the Agreement.

You may terminate the Agreement at any time by formalizing your termination in writing to Auka. Note that Customer Control applies to all historical transaction for as long as it’s required by law and supersedes the termination of this agreement by either party. The Agreement continues to be in force after you delete the Application from your mobile phone. If you do not use Settle for a period of six months, we may unilaterally decide to deactivate your Settle user. In such case the funds stored on your Settle Account(s) will be transferred to the applicable Funding Source. If no such Funding Source is available, we will notify you and request information. It is not possible to terminate unless balance with Settle is zero and any outstanding claims are paid.

  1. Changes to the Agreement

The current terms of the Agreement will be available in the Application and on our Website. Changes that are not to your advantage will only be made with two (2) months notice. If you do not wish to accept changes to the Agreement, you must terminate the Agreement and your use of Settle. If you use Settle after a change to the Agreement, the changes are deemed to have been accepted by you. Changes to enforce legal requirements, security requirements, or to prevent illegal activity, can be carried out without notice. You can contact us at any time and request a copy of the current terms.

  1. Temporary validity of obligation

Our obligations under this Agreement, including our obligation to carry out payment orders and settlement, cease temporarily if circumstances arise beyond our control and which we could not reasonably foresee or avoid the consequences of, that render the performance of the Agreement impossible. The same applies to matters that are due to obligations imposed on us pursuant to law.

  1. Contact us

You can contact us for help and information about the Service via the communication channels made available to you in the Application and on our Website. If your phone is stolen, lost or you suspect someone else has unauthorized access to the Service, you must immediately and without undue delay report this to us by telephone.

  1. Dispute settlement

This Agreement is governed by Norwegian law. In the event of a dispute in which you disagree with us and we do not resolve the matter to your satisfaction, you may bring the matter to the Norwegian Finance Services Complaints Board via or to the secretariat of the Finansklagenemnda, Postboks 53, Skøyen 0212 Oslo.

  1. Licenses and supervision

Auka AS has a license as an e-money institution that is duly passported to all EU member states. The license is issued by, and Auka is under supervision of the Norwegian Financial Supervisory Authority, PO Box 1187 Sentrum, 0107 Oslo, and the Norwegian Data Supervisory Authority, PO Box 8177 Dep, 0034 Oslo.