LATAM Specific Terms
Appendix of the GTCS – LATAM Specific Terms
Last update 30 September 2026
With the objective of consolidating its position as a provider to global clients, PPRO has standardized and incorporated the former LATAM Terms and Conditions, into the General Terms and Conditions, where only the specific LATAM ruling have been kept apart in this Appendix.
This Appendix will apply when the Contractual Partner is using the provision of Payment Services in the countries listed as per clause 1.4 below (“Target Countries”), where such services are delivered by PPRO Latin America GmbH and/or its respective affiliates in LATAM (“PPRO”).
Validity and Transition: Contracts executed prior to March 1st 2026 that reference the former LATAM Terms and Conditions shall now be governed by the General Terms and Conditions, in conjunction with this APPENDIX – LATAM Specific Terms.
PPRO offers digital payment solutions to businesses and banks to enable them to globally scale their local payment services through one connection. The PPRO General Terms and Conditions (“GTCs”), this Appendix, including the PPRO Payment Method Specific Terms of Use together with the Payment Services Agreement form the entire Agreement between PPRO and the Contractual Partner. In the event of a conflict, this Appendix prevails for LATAM services.
This Appendix, The GTCs and the PPRO Payment Method Specific Terms of Use may be updated or amended from time to time and any such updated and amended documents will apply to the Payment Service Agreement between PPRO and the Contractual Partner immediately upon publication.
Services
Specific services for the Target Countries in LATAM (“Services”) comprise of:
Payment Processing Services; and
Collection and Settlement of Funds Services, including:
Receipt of funds from Customers;
Handling accounts receivables;
Depositing funds into Contractual Partner’s accounts, including but not limited to cross-border transfers required for such deposits; and
Retaining/refunding funds in cases of fraud/chargebacks
Contractual Partner grants PPRO and its subsidiaries “soft” power of attorney to perform administrative/legal actions for tax and foreign exchange compliance in Target Countries.
For the avoidance of doubt, PPRO Latin America GmbH is the sole Entity managing Services to the Target Countries as described in this Appendix. PPRO Financial Limited (“PPRO UK”) and PPRO Payments Services S.A. (“PPRO LU”) do not take any responsibility for the services herein provided, do not participate in the LATAM funds flow and neither will act as a backup entity (solidary liable) to PPRO (“PPRO Latin America GmbH”). PPRO UK (PPRO Financial Limited) and PPRO LU (PPRO Payments Services S.A.) expressly disclaim any responsibility for the services provided herein and do not serve as jointly liable entity or parent companies for PPRO.
The Services shall at all times be carried out by the PPRO Affiliate incorporated in the respective Target Country listed below (or any of its successors and/or assignees):
| Target Country | PPRO Affiliate entity providing LATAM Products and Services |
| Argentina | PPRO Argentina S.A. |
| Brazil | PPRO Brasil Instituição de Pagamento Ltda. |
| Chile | PPRO Chile SpA. |
| Colombia | PPRO Colombia SAS. |
| Mexico | PPRO México Servicios de Pagos S.A. de C.V. |
| Peru | PPRO Perú S.A.C |
The Contractual Partner entitles PPRO to take any and all measures, including administrative and legal measures, in order to ensure the availability and timely performance of the LATAM Products and Services.
The Contractual Partner agrees and accepts that it shall be obliged to:
ensure that use of the Services by the Contractual Partner or a Merchant is subject to an agreement with the Customer that includes the applicable disclosures included in Exhibit 1 of this Appendix of the GTCS – LATAM Specific Terms;
have suitable record retention procedures and that it can provide, upon request of the other party and/or Regulator and/or Judicial Authority, evidence that it complies with country specific consumer protection and anti-money laundering laws and regulations in the Target Country
undertake not to commercialize products and/or services violating any law, statute, ordinance, or regulation of Applicable Law in the Target Countries or such products and/or services in the Target Countries, which may only be commercialized on the basis of a previous approval by public authorities and/or notified bodies without having such an approval; and
comply with all applicable domestic laws and regulations in each Target Country in which Services are provided. This includes, without limitation, laws and regulations relating to licensing and registration requirements for payment service providers, when applicable, per each Target Country legislation. Any failure to comply with applicable domestic regulatory requirements shall constitute a material breach of this Appendix and the Payment Services Agreement, entitling PPRO to suspend or terminate the Services with immediate effect
Costs related to currency exchange, aiming the transfer of funds, shall be entirely passed on to the Contractual Partner by PPRO. PPRO is not obligated to close a specific exchange rate but will ensure reasonable efforts to close the best possible rates for both Parties.
PPRO can inform the Contractual Partner that in respect of specific PPRO Products and Services and/or Target Countries, Fees including Tax and other amounts owed under the Agreement will be paid via a bank transfer based on the invoice issued by PPRO to the bank account indicated in the invoice, by its due date. If the Contractual Partner is required by applicable law to make any deduction or withholding, the Contractual Partner shall pay such additional amount as is necessary to ensure that PPRO receives a net amount equal to the full amount stated on the invoice. If the Contractual Partner fails to make payment in accordance with this Agreement, PPRO shall be entitled, in addition to any unpaid amount that should properly have been paid, to charge a simple interest on that amount from the final date for payment until the date of actual payment, being such interest to be calculated at a rate of 1% per month and an additional non compensatory fine of 2%. PPRO shall be entitled, upon giving prior written notice, to discontinue or suspend its services until sums due to it are paid in full. PPRO shall be entitled to recover such unpaid amounts, together with any interest, fines, or penalties, by deducting them from funds otherwise due and payable to the Contractual Partner.
If the Contractual Partner is a PSP:
complementary to the GTCs: the PSP shall ensure that Merchants who wish to access and use the Payment Methods are onboarded by the PSP through the Self Service Boarding Portal and that all requisite Know Your Customer/Anti-Money Laundering information and documentation is provided and maintained on an ongoing basis pursuant to the policies of PPRO and as requested from time to time by PPRO in order to fulfil its Regulatory Requirements.
The PSP is solely liable for the acts or omissions of its Merchants and assumes responsibilities for compliance with all obligations assumed in this Agreement arising from or in connection with the Payment Methods. The PSP shall indemnify and hold PPRO harmless from and against any claims, losses, liabilities, damages, costs and expenses arising out of or in connection with any breach by the PSP or its Merchant of obligations under this Agreement.
The PSP, as the intermediary through which funds are collected locally, acknowledges and agrees that it acts as agent of the Merchant, or upon the Merchant’s instruction, for the sole purpose of receiving such funds and remitting them to the Merchant at its own risk, in accordance with Applicable Law.
The PSP shall further ensure that Merchants are registered with PPRO, have clear access and agree to the PPROs GTCs conditions available online at https://www.ppro.com/legal/payment-services-agreement-general-terms-and-conditions/.
SPECIFIC LATAM TAX PROCEDURES
The respective PPRO entity in the Territory as listed in clause 1.4. will perform the necessary tax procedures required by the Applicable Law in the Target Country on behalf of the Contractual Partner as far as such procedures form an integral part of the transfer of funds collected in the Target Country. Under no circumstances will PPRO be held responsible for the payment of any kind of Taxes incurred by the Contractual Partner´s activities.
PPRO reserves the right to alter any tax procedures upon the issuance of new legislations or regulations of Target Countries, or their interpretation. PPRO will notify the Contractual Partner of this alteration and requirement at the earliest possible time.
The Contractual Partner declares that PPRO shall enjoy the necessary power to act on their behalf for the purpose of tax procedures covered by this Clause. Under no circumstances PPRO shall act or be expected to act as a tax advisor.
The Contractual Partner shall provide PPRO with any and all information required by PPRO to perform tax procedures for the purpose of transferring funds according to this Clause.
The Contractual Partner shall be exclusively responsible for the correctness and completeness of information provided to PPRO.
The Contractual Partner is obliged to inform itself about the applicable tax procedures for its business. PPRO is under no circumstances liable for decisions taken by the competent authorities with respect to tax procedures related to the transfer of funds collected in the target country nor will PPRO provide the Contractual Partner with legal or tax advice.
The Parties will document, in a format to be mutually agreed in writing, the Taxes expected to be collected by or charged to PPRO in each Target Country as of the date of that document. This document is for informational purposes only and does not limit, restrict, or waive PPRO’s rights under GTC to withhold, deduct, collect, or remit any Tax required or permitted by applicable law, including Taxes not listed in the document or arising from a change in law. The document may be updated at any time by written agreement of the Parties. Neither Party may refuse to collect or remit a Tax where applicable law designates either Party as jointly or severally liable for its collection.
The Settlement Period shall be set out in the Payment Services Agreement. The Contractual Partner acknowledges and agrees that PPRO will only settle funds which it has actually received from the Issuing Bank or the Payment Scheme. The funds settled to the Contractual Partner on a given day will depend on the timeframes of settlement provided by the Payment Schemes to PPRO.
PPRO shall collect and aggregate all funds deriving from Payment Schemes and/or Issuing Banks referable to each individual Merchant, if applicable, on the basis of the Merchant Contract ID. PPRO shall hold and/or process funds in accordance with Regulatory Requirements.
PPRO SHALL NOT BE RESPONSIBLE FOR THE CHARACTERISTICS, QUALITY, AND OTHER CONDITIONS OF THE PRODUCTS OR SERVICES OBJECT OF THE TRANSACTIONS OFFERED BY THE CONTRACTUAL PARTNER, INCLUDING, WITHOUT LIMITATION: (I) NONCOMPLIANCE WITH ANY CLAUSE AND CONDITIONS OF THE COMMERCIAL TRANSACTIONS BY THE SELLERS AND/OR SUPPLIERS, SUCH AS TERMS AND WARRANTIES, AS WELL AS ANY OTHER CONTRACTUAL OBLIGATIONS AGREED; (II) RISKS, DEFECTS, QUALITY DEFECTS, QUANTITY DEFECTS, POTENTIALLY HARMFUL OR HAZARDOUS; (III) DECEIVED OR ABUSIVE ADVERTISING; (IV) INSUFFICIENCY OR INADEQUACY OF INFORMATION PROVIDED BY THE SELLER AND/OR SUPPLIER; (IV) INADEQUACY FOR THE PURPOSES FOR WHICH THEY ARE INTENDED; (V) DISCREPANCIES WITH THE INFORMATION CONTAINED IN OFFERS OR ADVERTISING MESSAGES, OR WITH THE INDICATIONS CONTAINED IN THE PACKAGING OF
PRODUCTS OR SERVICES; OR (VI) REFUND, RETURN OF AMOUNT OR PAYMENT OF ANY INDEMNITY TO THE CONSUMER DUE TO CLAIMS RELATING TO THE TRANSACTIONS, EXCEPT WHEN RELATING TO REFUNDS AND CHARGEBACKS.
PPRO may suspend or cancel approvals of Transactions, suspending, reversing or canceling the payment or financial transactions, when: (i) it finds that the Transactions expose the Consumers or PPRO to excessive risk, due to their characteristics; (ii) it verifies that the information provided under the Transactions is incomplete, inaccurate or untrue; (iii) it suspects that the Transactions, for any reason, fall within the prohibition of use of the Services so that the authorization of the respective Transactions will only be possible after satisfactory clarification of the situation; (iv) the Contractual Partner does not provide sufficient information or does not prove the delivery of the product or service to its consumer, when requested by PPRO; and (v) PPRO is sued in court regarding the Transactions carried out by the Contractual Partner and it does not exempt PPRO from any responsibilities, does not comply with the orders of competent authorities or does not resolve the cause of the referred judicial action.
Exhibit 1 – Required Disclosures
The Contractual Partner is obligated to share with PPRO a copy of the Contractual Partner’s updated contractual instrument with its Customers or end-users (e.g. terms and conditions) in the local language of the country where the Contractual Partner is offering Products and Services. Additionally, the following text has to be added to its “Terms & Conditions” of the website where the customer is purchasing the products or services:
A) Argentinian Spanish (authorization required)
“Con el fin de permitir (si necesario) el envío de fondos para el pago de bienes, productos y / o servicios comprados a [nombre del Contractual Partner], el Usuario designa irrevocablemente a PPRO Argentina S.A. (a través de cualquiera de sus representantes, apoderados, empleados o agentes) como su apoderado para, en su nombre, (i) suscribir contratos de cambio de divisas y otros convenios que sean necesarios para efectuar la respectiva transferencia o gestión de fondos, incluyendo la facultad de negociar plazos, tarifas, comisiones, o incluso en reemplazar el mandato otorgado parcialmente o en su totalidad, y (ii) actuar en nombre de [nombre del Contractual Partner] en la venta de los bienes, productos y / o servicios, solo con el propósito de recibir, procesar y remitir las transacciones de pago con el fin de finalizar la compra de bienes, productos y / o servicios ofrecidos por [nombre del Contractual Partner], y otorga autorización y consentimiento a PPRO Argentina S.A. para actuar como destinatario final y beneficiario de los pagos realizados en Argentina, en nombre de [Contractual Partner].”
ENGLISH: In order and if necessary to enable remittance of funds for the payment of goods, products and/or services purchased from [Contractual Partner’s name], the User irrevocably appoints PPRO Argentina S.A. (through any of its representatives, attorneys, officers or agents) as its attorney-in fact to, on its behalf, (i) sign foreign exchange agreements and other agreements that may be necessary to effect the respective remittance and management of funds, including the power to negotiate terms, rates, renegotiate fees, or even in whole or in part supersede the mandate granted, and (ii) act in the name and/or on behalf of [Contractual Partner’s name] in the sale of the goods, products and/or services, just for purposes of receiving, processing and remitting the payment transactions in order to complete the purchase of goods, products and/or services offered by the Contractual Partner, and grants authorization and consent to PPRO Argentina S.A. to act as the final recipient and beneficiary of the payments made in Argentina, in the name and/or on behalf of [Contractual Partner’s name].
B) Brazilian Portuguese (authorization required)“A fim de permitir a remessa dos fundos resultantes dos pagamento de bens, produtos e/ou serviços adquiridos de [Nome do Contractual Partner], o Usuário nomeia e constitui PPRO Brasil Instituição de Pagamento Ltda. como seu bastante procurador para, em seu nome, assinar contratos de câmbio bem como outros contratos que sejam necessários para realizar a referida remessa internacional e gestão dos fundos, incluindo poderes para negociar condições gerais, taxas, preços e tarifas, bem como substituir, em todo ou em parte, o mandato ora outorgado.”
ENGLISH: In order to enable remittance of funds for the payment of goods, products and/or services purchased from [Contractual Partner’s name], the User appoints PPRO Brasil Instituição de Pagamento Ltda as its attorney-in-fact to, on its behalf, sign foreign exchange agreements and other agreements that may be necessary to effect the respective remittance and management of funds, including the power to negotiate terms, rates, renegotiate fees, or even in whole or in part supersede the mandate granted.
C) Colombian Spanish (recommended disclosure)
“El usuario autoriza al [Contractual Partner] y a todos y cada uno de los procesadores de pago y/o agentes recaudadores de fondos que lleguen a procesar transacciones de pago en nombre del Contractual Partner o a recaudar recursos pagados en virtud de la transacción, a cerrar el contrato de FX y a transferir y gestionar los fondos relativos a los pagos ejecutados a través del medio de pago empleado, incluyendo Baloto, Botón PSE, o tarjetas de crédito. Todos y cada uno de los procesadores de pago y/o agentes recaudadores que lleguen a procesar transacciones por instrucciones del Contractual Partner o a recaudar fondos para este último no son responsables de recaudar los impuestos que puedan originarse en relación con esta operación.”
ENGLISH: The user grants the Contractual Partner, and any and all payment processors and/or collecting agents which may process payment transactions or collect money on behalf of the Contractual Partner, to close the FX contract and to transfer and manage the funds relating to payments executed, including those made via Baloto, Botón PSE, or credit cards. Any and all payment processors and/or collecting agents which may process transactions on behalf of the Contractual Partner or to collect funds on its behalf do not account for collecting taxes, which might originate in relation to this operation.
D) Chilean Spanish (recommended disclosure)
“El usuario autoriza a PPRO Chile SpA a recibir, procesar, gestionar y transferir los fondos relativos a los pagos en nombre del Contractual Partner con el fin de finalizar la compra de bienes, productos y/o servicios ofrecidos por el comerciante, y otorga autorización y consentimiento a PPRO Chile SpA para actuar como el destinatario final y beneficiario de los pagos realizados en Chile, en nombre del Contractual Partner.”
ENGLISH: The user authorizes PPRO Chile SpA to receive, process, manage and remit payment transactions on behalf of the Contractual Partner in order to complete the purchase of goods, products and/or services offered by the Contractual Partner, and grants authorization and consent to PPRO Chile SpA to act as the final recipient and beneficiary of the payments made in Chile, on behalf of the Contractual Partner.
E) Mexican Spanish (recommended disclosure)
“El usuario autoriza a PPRO Mexico Servicios de Pagos S.A. de C.V. a recibir, procesar, gestionar y transferir los fondos relativos a los pagos en nombre del Contractual Partner con el fin de finalizar la compra de bienes, productos y / o servicios ofrecidos por el comerciante, y otorga autorización y consentimiento a PPRO Mexico Servicios de Pagos S.A. de C.V. para actuar como el destinatario final y beneficiario de los pagos realizados en Mexico, en nombre del Contractual Partner.”
ENGLISH: The user authorizes PPRO Mexico Servicios de Pagos S.A. de C.V.to receive, process, manage and remit payment transactions on behalf of the Contractual Partner in order to complete the purchase of goods, products and/or services offered by the Contractual Partner, and grants authorization and consent to PPRO Mexico Servicios de Pagos S.A. de C.V. to act as the final recipient and beneficiary of the payments made in Mexico, on behalf of the Contractual Partner.
F) Peruvian Spanish (recommended disclosure)
“El usuario autoriza al Contractual Partner y a todos y cada uno de los procesadores de pago y/o agentes recaudadores que lleguen a procesar transacciones de pago por instrucciones del Contractual Partner, a cerrar el contrato de FX y a transferir y gestionar los fondos relativos a los pagos ejecutados a través de Pago Efectivo, tarjetas de crédito y tarjetas de débito. Todos y cada uno de los procesadores de pago y/o agentes recaudadores que lleguen a procesar transacciones por instrucciones del Contractual Partner no son responsables de recaudar y/o declarar ante la autoridad correspondiente los impuestos que puedan originarse en relación con esta operación.”
ENGLISH: The user grants its authorization to the Contractual Partner, and any and all payment processors and/or collecting agents which may process payment transactions in accordance with instructions provided by the Contractual Partner, to close the FX contract and to transfer and manage the funds relating to payments executed via Pago Efectivo, credit cards, and debit cards. Any and all payment processors and/or collecting agents which may process transactions with instructions provided by the Contractual Partner do not account for collecting and/or declaring before the correspondent authority, taxes, which might originate in relation to this operation.