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VEXPay terms of service

The terms on which Chu Capital, C.A. provides VEXPay to the businesses that collect and pay with it.

Who we are

Last updated: November 2, 2026. The Spanish version prevails if the two differ.

VEXPay is a technology platform operated by Chu Capital, C.A. (RIF J-50832436-6), Caracas, Venezuela ("VEXPay", "we"). These terms govern the use of VEXPay by the company or person that opens an account (the "client"), including the portal, the API, the SDKs, the hosted checkout and payment links.

What VEXPay does

VEXPay lets a business collect from its customers and pay others from one account:

  • Bolívar collections: Débito Inmediato (C2P), Pago Móvil verification and, when available, card payments (VPOS).
  • Hosted checkout, payment links and subscriptions: VEXPay payment pages the client shares or embeds.
  • Stablecoins (USDT and USDC): deposit addresses, checkout, conversions from bolívares or pesos to USDT, and withdrawals to wallets.
  • Colombian pesos (COP): collections from Colombia through the channels the account offers.
  • Balances and payouts: the client's balance per currency, and payments to its bank account or to others (sellers, suppliers, staff).
  • Webhooks, API and SDKs: signed notices of every event and tools to integrate all of the above.
  • Business verification (KYB): review of the business before it operates in Live mode.

Each account has only some methods enabled. What an account can use shows in the portal and in GET /v1/payment-methods. We may add, change or pause methods; we will say so in the docs or the portal.

How the money moves

  1. Receipt

    Bolívar payments are received through partner banks into accounts operated by VEXPay. Stablecoin and Colombian peso payments are received through payment processors.

  2. Credit to the balance

    Each completed payment is credited to the client's VEXPay balance, in its currency, net of fees.

  3. Hold

    In Live mode, credited funds are held for 24 hours by default before they can be withdrawn, paid out or converted. VEXPay may set a different hold for an account.

  4. Settlement

    The client withdraws its available balance to the bank account or wallet it chooses, or pays others with payouts. We may apply withdrawal limits and review payouts before sending them, especially on new accounts.

Reversals, refunds and chargebacks of a payment are taken from the client's balance, even if that money was already withdrawn. If the balance is not enough it goes negative, and new payments refill it before further withdrawals are allowed.

Account, verification and test mode

  • To operate in Live mode the client must complete KYB with true and complete information, give an owner contact and be approved by VEXPay. We may ask for more information at any time.
  • When a KYB application is submitted, VEXPay screens the business and the people listed in it against sanctions lists.
  • Test mode uses simulated data and moves no real money. Never send real money to the details it shows.
  • The client is responsible for everything done with its API keys and portal access. Keep keys on your server and rotate them if exposed.

Fees

The client pays the fees agreed for its account, shown in the portal. Without a specific agreement, the standard rates at Pricing apply. Fees are deducted from each payment or payout. We may change rates with prior notice by email or in the portal; changes do not affect completed operations.

Client obligations

  • Comply with the laws that apply to it, including tax and consumer protection laws.
  • Deliver what it sells and serve its buyers: the sale is between the client and its buyer; VEXPay is not a party to it.
  • Bear the reversals, refunds and chargebacks of its payments and their fees, including those of its sellers; recovering them from sellers is up to the client.
  • When it takes cards on its own form, meet the card data security requirements (PCI DSS) that apply to it.
  • Tell its buyers how their data is handled and have a basis to share it with VEXPay.
  • Verify webhook signatures and tell us promptly about errors, payments it does not recognise or unauthorised access.
  • Keep its account and KYB information up to date.

Acceptable use

VEXPay may not be used for:

  • Activities that are illegal where the client operates, money laundering or financing illicit activities.
  • Gambling, weapons, adult content or unlicensed financial services.
  • Fraud, testing stolen cards, charging without delivering, or charging on behalf of another business without our approval.
  • Sanctioned persons or entities, or evading sanctions.
  • Trying to access other clients' data, or overloading or attacking the platform.

Suspension and closure

We may limit payment methods, hold balances, pause payouts or suspend an account when there is reasonable suspicion of fraud, a sanctions list match, false or incomplete KYB information, a high chargeback risk, a breach of these terms, or an order from a competent authority. We will tell the client unless the law or an investigation prevents it.

The client may close its account at any time by writing to support. When an account closes we pay the available balance to the account the client names, once pending reversals, chargebacks and fees are covered.

Liability

  • VEXPay relies on partner banks, processors, payment networks and blockchains it does not control. We are not liable for their outages, delays or declines, though we will work to resolve each case.
  • The service is provided "as is" and may be interrupted for maintenance or failures.
  • To the extent the law allows, VEXPay is not liable for lost profits or indirect damages, and its total liability to a client is limited to the fees that client paid VEXPay in the three months before the event giving rise to it.
  • None of this limits VEXPay's obligation to pay the client its available balance.

Data

We handle the data of the client and its buyers as described in the Privacy policy. The client owns the data of its sales and can view it in the portal and through the API.

Changes, governing law and contact

  • We may update these terms. We will publish the new version here with its date and announce material changes by email or in the portal. Continuing to use VEXPay after the notice means accepting them.
  • These terms are governed by the laws of the Bolivarian Republic of Venezuela. Any dispute will be submitted to the courts of the city of Caracas.
  • Contact: soporte@vexwallet.co. Chu Capital, C.A., RIF J-50832436-6, Caracas, Venezuela.