Terms and conditions
for FinqLink users

This page contains information intended for those who use our services to initiate payments by bank transfer from accounts opened with banks in Romania, hereinafter referred to as “PAYMENT SERVICE USERS” or “PSU”.
Please read carefully the terms and conditions applicable to the use of FinqLink service when initiating a payment for one of our customers. Initiating a payment through the FinqLink service implies your explicit acceptance as a PSU of the applicable terms and conditions.


Service provider

The services available through the FinqLink service are provided by the company Finqware SRL, registered with the Trade Register under no. J12/2522/2019, unique registration code 38866528, with registered office in Str. Regele Ferdinand, Nr. 22-26, nivelul 3, Cluj-Napoca, Cluj county, website: www.finqware.com, email: info@finqware.com


Finqware is authorized by the National Bank of Romania as a payment institution that can carry out payment initiation services, registered in the Register of payment institutions kept by the National Bank of Romania, respectively in the Central Electronic Register kept by the European Banking Authority under no. IP-RO-0012/27.05.2022.

The National Bank of Romania (NBR) ensures the prudential supervision of authorized payment institutions, Romanian legal entities. For any complaints, please contact NBR:

   Address: Strada Lipscani nr. 25, sector 3, București, cod 030031
   Telephone: 021 313 04 10, 021 315 27 50
   For written requests, please access https://www.bnr.ro/Contact-709-Mobile.aspx. 


Description of services

FinqLink service offers online payment initiation services by bank transfer from accounts opened with banks in Romania. Through the FinqLink service you can initiate an online payment to various beneficiaries for the products or services you want to pay for, depending on the specifics of the solutions offered to you by our customers.
To initiate a payment, you were directed to the FinqLink service by a client of Finqware SRL who integrated our payment initiation service into their own website and/or mobile application.

The term for initiating the payment through FinqLink is one minute from the moment you confirm the operation, however the actual execution of payment may take several hours depending on, but not limited to: the functioning of the selected bank systems, the checks made by the bank on the payment, the moment you choose to authorize the payment etc.

In order to complete a payment initiated through the FinqLink service, you will need to log in and authorize it in the platform made available to you for this purpose by the bank that manages your account from which you chose to make the payment.

The payment initiation service begins at the time of your acceptance as PSU of these terms and conditions and ends at the moment of transmission to our partner client of the result of the payment execution received from the bank. Any dispute after the end of the relation between PSU and Finqware shall be submitted by written notification to finqlink@finqware.com

Finqware SRL does not sell products or services on behalf of its own customers who use the FinqLink service or on behalf of other partners with whom you have concluded a business relationship but only provides you with the technical means to initiate your payments to them. Therefore, all aspects regarding the delivery of products or services, conditions of return, warranty and any other commercial matters concerning the products or services for which you have made a payment initiated through our service are governed exclusively by the contractual relationship you have concluded with the payment recipient and do not engage the responsibility of Finqware SRL. Also, Finqware SRL does not come into possession of your funds at any time, they will be transferred directly from your account to the account of the beneficiary.

Our services help you pay safely. We won’t charge you any fees when you initiate a payment through our services.


Know-your-customer and data processing

Finqware SRL applies know-your-customer measures, based on Law no. 129/2019 to prevent and combat money laundering and terrorism financing, both in relation to our customers and payment service users.
These measures are aimed at continuously evaluating and monitoring transactions carried out through the FinqLink service, including by examining initiated payments, to ensure that they are consistent with the information held about our customer, payment service user, activity profile and risk profile.

In this sense, at the time of initiating the payment or later, when the situation demands it (for example, in the case of a transaction carried out under suspicious conditions), Finqware SRL will process the following categories of data:

PSU contact details: email address;
Data on the payment method used: the bank that administers the account from which you chose to initiate the payment;
Transaction data: our client’s name and website, unique transaction identification code, payment recipient (name and IBAN account), transaction date, transaction amount and payment description;
Connection data: location, IP address, device, operating system and Internet browser used;
Transaction history data: data on FinqLink service usage history;
Data regarding fraudulent / potentially fraudulent activity carried out using FinqLink: data relating to suspected fraud or other illegal use of the services we provide.

Given that the information listed above is not likely to lead to the identification, directly or indirectly, of the natural person initiating a payment through the FinqLink platform, it does not constitute personal data. Thus, Finqware SRL does not come into possession and does not process at any time personal data or personalized security elements that belong to you.


We process the data obtained for the following purposes:

Processing the payment initiation request: to initiate the payment, we send to the bank that manages your account from which you chose to make the payment the unique transaction identification code, payment recipient (name and IBAN account), transaction amount and payment description;
Information on payment status: we may contact you by e-mail to send you information about the result of the payment made;
Communication: we may contact you by e-mail to send you information regarding the availability of our services or other elements related to the use of the service (security notifications, various notices of a legal nature, etc.);
Customer support: we use the data that is available to us to investigate, resolve and respond to notifications or complaints regarding the use of the service;
Settlement of disputes related to payments: in the event that disputes related to a payment that you have initiated arise, we need to process a series of data about the transaction that you have made and make them available to our customer, i.e., the bank that administers your account from which you chose to make the payment;
Fraud prevention and payment security: as providers of payment initiation services, we have an obligation to ensure the prevention and identification of potential fraud and to keep our systems secure;
Our accounting records: when we invoice the services provided to our partner clients, we must keep accounting records regarding the transactions processed, for the purpose of fulfilling our legal obligations under financial, accounting and tax legislation;
Development of services: we use data, including feedback received through various channels, to carry out research and development activities in order to improve our services and to mitigate fraud risk.

We process the data obtained on the basis of the following legal grounds:

the performance of the contractual obligations to our customers who integrate our services for the initiation of payments, by which you wish to initiate a payment for goods or services;
performance of our service contract (as a result of your acceptance of the Terms and Conditions of the payment initiation service);
compliance with our legal obligations (such as know-your-customer legislation, tax and accounting legislation, etc.);
our legitimate interest to ensure the security of our platform, to prevent fraud and incidents related to payments, to resolve any disputes regarding payment and to monitor the quality of our services and the technical capacity of our platform.

Veracity of data provided & security

When using the FinqLink service, you are responsible for the veracity of the data provided on the platform and fully responsible for maintaining the security and confidentiality of such data outside of the use of the platform.

If you have a reasonable suspicion that the security or confidentiality of the data you provided on the FinqLink platform at the time of payment has been compromised, please inform us immediately so that we can take all necessary measures to protect such data.



To use FinqLink service to initiate a payment for one of our customers, you represent that:

you are the rightful owner of all information you have entered into the FinqLink service, that information is correct and will not cause any damage to a third party;
you are the beneficial owner or you act as an agent of the beneficial owner on whose behalf the transaction whose payment is initiated through the Finqlink platform is conducted;
the source of the funds for making the payment does not come from illicit activities;
the circumstances for making the payment will not result in acts falling under criminal law, which include (but are not limited to) money laundering offences (art 49 of Law 129/2019), terrorist financing (article 36 of Law no. 535/2004), fraud committed using computer systems and electronic payment methods (article 249-252 of the Criminal Code), counterfeiting of currency, stamps or other securities (article 311 of the Criminal Code), offences against the security and integrity of computer systems and data (article 360-366 of the Criminal Code).

The provision of false statements entitles Finqware SRL and its affiliates, as well as our customers, to take all measures permitted by law to repair the damage caused and punish the acts causing the damage.


Settlement of disputes related to payments

Your rights, as a user of payment services, are presented in a clear and easy-to-understand manner by the National Consumer Protection Authority (ANPC) on its website in an electronic prospectus, made by the European Commission for this purpose, based on Law 209/2019 and related legislation.

In case of non-execution or incorrect or late execution of payment transactions initiated through FinqLink service, the bank that manages your account from which the payment was initiated will refund you the amount of the unexecuted or incorrectly executed payment transaction and, as the case may be, will return the debited payment account to the situation it would have been in if the defective payment transaction had not taken place. Finqware shall bear the burden of proving that the payment order was received by the bank and that, within the limits of its competence, the payment transaction was authenticated, correctly recorded and not affected by a technical failure or other deficiencies related to non-execution or incorrect or late execution of the transaction.

If Finqware is responsible for the non-execution or incorrect or late execution of the payment transaction, it will immediately compensate your bank at its request for the losses incurred or the amounts paid as a result of the refund granted to you.

The language governing these Terms and conditions is Romanian. All communications shall be made in Romanian.



Finqware SRL reserves the right to modify and update the terms and conditions of use at any time without prior notice. Therefore, please visit this page periodically to check the applicable terms.
Date of last update: 12.12.2023