Terms and Conditions for the Riverty Credit Agreement

By entering into a credit agreement with Riverty, you will be able to pay for your purchases of goods and services from Amazon after delivery using one of Riverty’s credit payment methods.

When we mention “the Agreement” or “this Agreement” we mean the Riverty Credit Agreement, which consists of these Terms and Conditions together with the title page with individual information about you and your specific credit. When we mention “Amazon”, we mean all Amazon companies within the Amazon group of companies that ither (1) sell goods or services to consumers on the Danish market or (2) provide an Amazon Marketplace where third-party sellers can sell products to those consumers. And when we mention “purchase” or “purchases”, we mean your purchase of goods or ordering of services from Amazon for which you have chosen to pay using one of Riverty’s credit payment methods.

When you enter into this Agreement, you are given a credit limit. Your assigned credit limit is specified within the individual information on the title page of the Agreement. You can use Riverty’s credit payment methods to pay for your Amazon purchases up to your assigned credit limit. As you pay off your used credit, your available credit balance will increase again, and you can once again use the available credit up to the credit limit to pay for new Amazon purchases using one of Riverty’s credit payment methods.

When you choose to pay for an Amazon purchase using one of Riverty’s credit payment methods, Amazon transfers its claim for payment of your purchase to Riverty. This means that you owe the purchase amount to Riverty instead of Amazon. You then pay for your purchase after delivery by making a payment to Riverty in accordance with the payment term of your chosen credit payment method.

 

2. The different credit payment methods provided under this Agreement 

Riverty provides you with different credit payment methods to choose from under this Agreement. Below we list the available options. Riverty may add new credit payment methods to this Agreement in the future. If so, we will inform you about the new credit payment methods in accordance with the procedure for changes to the Agreement described in Section 25 below.

Please note that for a specific purchase, only one or a limited number of credit payment methods might be available. It will be shown in Amazon’s payment selection page which Riverty credit payment methods are available for the current purchase.

 

Available credit payment methods

Pay by Invoice

With Pay by Invoice, you pay for one purchase after delivery. Pay by Invoice usually has a 14-day or a 30-day payment term. This means that your payment is due 14 days or 30 days from the day the Invoice is provided to you, depending on the options available for your purchase and your choice of payment term. There might also be special campaign offers or similar when other payment terms are available. In each case, the payment term that applies for each individual Invoice will be communicated to you in the checkout and will also be displayed on the Invoice itself and in your Amazon customer account.

Monthly Invoice

With Monthly Invoice, you can bundle several purchases into one combined payment statement. All purchases where you choose to pay by Monthly Invoice are collected over a period of time (typically one month), and then Riverty creates a consolidated payment statement including all these purchases in the beginning of the next month. The Monthly Invoice has a payment term of 14 days from the day the payment statement for the Monthly Invoice is provided to you.

 

 

3. Applying for credit, identity verification and creditworthiness assessment 

You can apply for a credit with Riverty to be used for Amazon purchases either in connection with an Amazon purchase for which you wish to pay with one of Riverty’s credit payment methods or by applying via a link in your Amazon customer account at any time.

Before Riverty can grant you credit, we need to collect information about you to be able to verify your identity and establish that we are able to enter into an agreement with you. We also need to perform a creditworthiness assessment to ensure that you have the financial capacity to likely be able to pay used credit. To perform this creditworthiness assessment, we may collect information about your financial situation from external sources such as credit information agencies as well as using any internal information we already have. We might also need to ask you for certain information.

If we conclude in our creditworthiness assessment that you are likely able to pay used credit, we will ask you to confirm that you agree to be bound by the Agreement. When you have done so, we will conclude the Agreement with you. You will receive a copy of the Agreement so that you have access to the Terms and Conditions of the Agreement at any time.

To complete the identity verification process, we may use your first payment made under this Agreement by confirming that the payment comes from your bank account, unless your identity has already been verified using strong customer authentication. If we use your first payment for this purpose, you must make the payment from a bank account with a bank in the EU/EEA or Switzerland.

Riverty’s creditworthiness assessment involves the use of automated processing of personal data. You therefore have the right to human intervention. This means that you have the right to contact us and get a clear and comprehensive explanation of the creditworthiness assessment, including the risks involved in automated processing and what significance and effect the automated processing has had on our decision. You also have the right to express your own point of view to us and to request a human review of the creditworthiness assessment and our decision.

 

4. Costs for using Riverty’s credit payment methods

All credit payment methods available under this Agreement are without any interest or other costs, as long as payment is made on time.

Because all credit payment methods available under this Agreement are free of interest and other costs, this Agreement’s annual percentage rate of charge (APR), which specifies the total credit costs expressed as a percentage, is 0.00%. The APR does not include any charges for late payments nor any voluntary charges that may be applied under this Agreement.

 

5. Duration of the Agreement

This Agreement applies indefinitely until it is terminated by you or by Riverty. How the Agreement can be terminated is described below in Sections 15 and 19 – 20.

 

6. How to use your credit and limitations of use

Your credit is available to use from the date this Agreement has been concluded between you and Riverty. You use the credit by selecting one of Riverty’s credit payment methods when you make a purchase from Amazon where this option is available.

The credit payment methods under this Agreement can only be used to pay for purchases from Amazon in accordance with the Terms and Conditions of this Agreement. The credit cannot be used for purchases from any other merchant than Amazon. Furthermore, the credit cannot be used for cash withdrawals.

The purchase price for your purchase needs to be within your available credit. The available credit is determined by your assigned credit limit and by how much you have previously used the credit as payment for other Amazon purchases.

When you select to pay for a purchase with a Riverty credit payment method, Riverty will grant your request to make use of your credit, provided that:

a) There is enough credit available under this Agreement to cover the purchase;

b) the chosen credit payment method is available for the particular purchase;

c) Riverty does not have reason to suspect that the security of the use of the credit has been compromised due to unauthorised or fraudulent use of the credit; and

d) Riverty does not have reason to block your right to use the credit due to, for example, overdue and unpaid payment notices or severe deterioration of your creditworthiness resulting in a significantly increased risk that you may be unable to pay the credit.

If your request to use the credit is approved, Amazon will assign the claim for payment for your purchase to Riverty, and then you will pay for the purchase by paying the used credit to Riverty in accordance with the payment term of your chosen credit payment method.

 

7. How you will receive your payment notices

Riverty will provide you with the payment notice for the payment of your chosen Riverty credit payment method via the email address you have provided to us, via a link in a text message or via post. All your payment notices for your used credit are also available in your Amazon customer account.

 

8. Payment of used credit

Payment of used credit shall be made to Riverty by the due date specified on each payment notice. Each due date is also specified in your Amazon customer account. Payment is made using the payment information provided on the payment notice via one of the available options. Below we list the options that are normally available. Riverty may add, modify or remove options in the future. Please visit your Amazon customer account to see the available options for payment and to select and manage your current and future payments.

 

Available options for payment

Direct Debit

If you sign a separate Direct Debit Mandate with Riverty, we will automatically settle your payments on the due dates of each payment notice from your bank account. You can select to use Direct Debit for all your payments under the Agreement or for specific payments. You can withdraw your Direct Debit mandate at any time.

Bank transfer

You can pay by bank transfer using the payment information on the payment notice.

 

9. Overview of used credit and your right to request a payment plan

To get an overview of how you have used your credit, which payments you have made and any payments due, as well as any charges for late payments and the outstanding balance, visit your Amazon customer account, where this information is available.

You also have the right to receive, on request and free of charge, a payment plan showing which amounts are due at which due dates.

 

10. Settlement order of payments 

When you make a payment to Riverty for used credit under this Agreement and you have more than one open payment notice at the time of payment, we may either allocate the payment first to the oldest payment notice or, if the amount paid indicates that the payment is intended for a specific payment notice, to the payment notice that matches the paid amount.

If you make a payment to us when you have one or more overdue payments and we have charged you any late payment interest or fees, we reserve the right to allocate your payment in the following order: (1) debt collection costs,  (2) accrued late payment interest, (3) reminder fees and (4) the principal amount of the overdue credit. This means that your payment may first be used to cover debt collection costs, late payment interest and reminder fees before reducing the principal amount of the overdue credit.

 

11. Increase of your credit limit

If you wish to increase your credit limit under this Agreement, you are welcome to apply to Riverty for an increase. If you apply for an increase, Riverty may perform a new creditworthiness assessment to determine if the increase can be granted. If a requested increase is granted, we will inform you of the new credit limit in accordance with the procedure for modifying the Agreement described in Section 25Fehler! Verweisquelle konnte nicht gefunden werden. below.

 

12. Exceeding your credit limit

If you should exceed your credit limit, for example due to a technical error, you need to take the necessary measures to restore the credit limit by making a payment to Riverty as soon as possible. Exceeding your credit limit does not mean that your assigned credit limit is increased. The only way to increase your credit limit is to apply for an increase as described above in Section 11.

 

13. Early payment of used credit 

You can always choose to pay your used credit early by making your payments before the due date on any payment notice, without any additional costs.

 

14. Your right of withdrawal from the Agreement 

You have the right to withdraw from this Agreement by notifying Riverty within 14 days from the date the Agreement was concluded. If you received your copy of the Agreement, including this information about your right to withdraw from the Agreement, on a later date, the 14-day withdrawal period instead starts on the day you received your copy.

If you want to exercise your right of withdrawal from the Agreement, you can use the withdrawal function that you find in the FAQ in our web portal: https://support.riverty.com/

You are also welcome to send your notice of withdrawal using the method you have chosen for communicating with us. You can also notify us by contacting us in another way, for example via telephone or post.

If you exercise your right of withdrawal and you have used any of your available credit under this Agreement, you need to pay the amount used within 30 days from the date on which you notified Riverty that you withdrew from the Agreement. You can do so by paying all your outstanding payment notices within 30 days using the payment information on the payment notice in question or, if you would rather pay all used credit in one single payment, you can contact Riverty’s customer service to get information about the amount to pay and the relevant payment information. You will not be charged any interest or other costs for exercising your right of withdrawal.

 

15. Your right to terminate this Agreement

You have the right to terminate this Agreement at any time. You can submit your termination notice to Riverty in any form, for example using the method you have chosen for communicating with us. You do not have to give any reason to us for why you want to terminate the Agreement. If you terminate the Agreement, it will stop being valid one month after the date of your termination.

If you have terminated this Agreement, the termination does not affect your right or your obligation to pay your used credit as normal by the applicable due dates on each payment notice. The applicable Terms and Conditions of the Agreement remain valid until all used credit, including any late payment interest and fees, has been paid in full.

 

16. Withdrawal from purchases, returns and objections 

If you exercise your right of withdrawal from a purchase, you do not have to pay the corresponding payment notice to Riverty. Also, if you return purchased goods in accordance with Amazon’s return policy, you do not have to pay the corresponding payment notice to Riverty. If your return only relates to part of a payment notice, the amount to pay will be reduced.

In case there are any problems with a purchase, such as faulty goods or services not supplied, you are entitled to raise the same objections against Riverty as you may raise against Amazon. If you have a right to a refund, compensation or other monetary payment from Amazon, Riverty is equally liable to ensure that you get paid. However, Riverty’s liability is limited to the amount you have received from Riverty in the form of used credit in connection with the purchase.

 

17. Charges and consequences in case of payment default

If your payment is not made by the due date in accordance with the terms of this Agreement, Riverty is entitled to charge statutory late payment interest on the overdue amount from the due date until payment is made in full. The late-payment interest rate is the official lending rate of Danmarks Nationalbank plus eight (8) percentage points.

If payment is not made on time, Riverty may send payment reminders and charge a reminder fee of up to one hundred Danish kroner (DKK 100) for each reminder. We will send a maximum of three reminders for each late payment, with at least 10 days between each reminder.

Late payments can negatively affect your creditworthiness, which will make it more difficult for you to be granted credit in the future. Riverty may report your payment default to a credit information register. Late or missing payments may also prevent you from being able to use your credit to pay for new purchases under this Agreement. If your payment default persists, we may also be entitled to terminate this Agreement and demand early payment of all used credit in accordance with Section 19 below.

If an unpaid debt is handed over to a debt collection agency, further costs may be charged.

 

18. Debt advisory services 

If you find that you have difficulty paying your used credit on time, we recommend that you contact debt advisory services, who offer advice and suggestions on how to manage your finances and handle your debt. You can find the contact details for your local debt advisory services on the website of the National Legal Services Authority (https://www.oikeuspalveluvirasto.fi/en/financial-and-debt-counselling/).

 

19. Termination of credit in case of payment default

Riverty may terminate this Agreement and require payment of amounts that would otherwise not yet be due if you fail to make a payment when due and the overdue amount remains unpaid thirty (30) days after its due date and the overdue amount constitutes at least one tenth of the total amount payable, or at least one twentieth of the total amount payable including any down payment, where the overdue amount includes more than one instalment, or the entire remaining claim.

If you pay the overdue amount before the conditions above are satisfied, Riverty may not terminate this Agreement or declare the outstanding credit due and payable on the basis of that payment default. If the conditions above are satisfied, Riverty may notify you that this Agreement is terminated and that the outstanding amount of credit used is due and payable. The amount payable will be calculated in accordance with section 28 of the Danish Credit Agreements Act. Before commencing enforcement proceedings, Riverty will, where relevant, provide reasonable forbearance in accordance with section 29a of the Danish Credit Agreements Act.

 

20. Riverty’s right to terminate this Agreement or block your right to use the credit

Riverty may terminate this Agreement for any reason with a notice period of two months. If we terminate the Agreement, we will send you a notice of termination on the durable medium you have chosen for our communication with you.

If there are objectively justified reasons, Riverty may also terminate your right to use the credit under this Agreement for any new purchases with immediate effect or block your right to use the credit for new purchases. Such reasons could be, for example, any of the following:

• That Riverty has reason to suspect that the security of the use of the credit has been compromised due to unauthorised or fraudulent use of the credit or due to misuse or unauthorised use of your login information;
• that the identity verification process has not been completed due to Riverty not having received a payment from your bank account within 60 days from the date you entered into the Agreement (where such identity verification process is applied);
• that you pass away;
• that you are declared bankrupt or is subject to a statutory debt restructuring arrangement;
• that you have several overdue and unpaid payment notices;
• that your creditworthiness has otherwise severely deteriorated so that there is a significantly increased risk that you may be unable to pay the credit; or
• that you intentionally provided Riverty with incorrect or incomplete information when the Agreement was concluded, if this information was of such importance that Riverty would not have concluded the Agreement, or would not have done so under the same conditions, if the correct information had been known at the time.

If Riverty decides to terminate the Agreement, Riverty will notify you of the termination and the reasons for it on the durable medium you have chosen before you lose the right to the credit, unless we are prohibited by law to give you such notice or it would be against public policy or public security to do so.

If this Agreement has been terminated by Riverty in accordance with this Section, the termination does not affect your right and your obligation to pay your used credit as normal by the applicable due dates on each payment notice. The applicable Terms and Conditions of the Agreement remain valid until all used credit, including any late payment interest and fees, has been paid in full.

 

21. Communication under this Agreement

During the duration of this Agreement, Riverty will from time to time provide you with important information and communication. When we entered into this Agreement, you made a choice regarding the durable medium you want us to use to communicate with you. Your choice of durable medium is stated within the individual information on the title page of the Agreement. We will use your chosen durable medium to provide you with the following communication:

• A reminder about the right of withdrawal from this Agreement which you will receive shortly after concluding the Agreement.
• Information about any changes to the Terms and Conditions or this Agreement.
• If relevant, information about termination of this Agreement or about any limitation in your right to use the credit or any change in your credit limit.

 

22. Notification of changed contact details 

You must inform Riverty promptly of any changes to your contact details, such as changes to your name, address, email or phone number.

 

23. Unauthorised use

You are obliged to protect your login details to your customer account and ensure that they are not disclosed to or used by unauthorised persons. If you become aware of loss, theft, misuse or unauthorised use of your login information, you must promptly inform Riverty of this.

 

24. Transfer of the Agreement

Riverty is entitled to transfer or pledge its claims against you under this Agreement to a third party without your consent. You are not entitled to transfer your payment obligations under the Agreement to anyone else without Riverty’s prior written consent.

 

25. Changes to this Agreement

If Riverty wants to change any of the terms of this Agreement, Riverty will inform you of the change using the durable medium you have chosen for our communication with you.

We will inform you whether the change requires your consent or not. If the change requires your consent, the change will only be implemented if you give your consent. If the change does not require your consent, the change will enter into force two months after you have been informed of the change. If you are dissatisfied with the change, you can submit a complaint in accordance with the complaints procedure described in Section 29 below.

When a change has been implemented, you will receive information about the change on the durable medium you have chosen.

 

26. Riverty’s license and supervisory authority

Riverty is a credit institute with its registered office in Luxembourg and registered in the companies register in Luxembourg with registration number B 297.797. Riverty is registered as a cross-border provider of financial services with local supervisory authorities in several markets within the European Union as well as the wider European Economic Area.

The supervisory authority for Riverty is the Luxembourg Financial Sector Supervisory Commission (in French: Commission de Surveillance du Secteur Financier, shortened to CSSF).

Contact information to the CSSF

Postal address:             L-2991 Luxembourg

Email address:              direction@cssf.lu

For Finnish consumers, supervision is also carried out by the Consumer Ombudsman and the Finnish Competition and Consumer Authority (FCCA).

Contact information to the FCCA

Postal address:             KKV, PL 5, 00531 Helsinki

Webpage:                                https://www.kkv.fi/

 

27. Processing of personal data

Riverty processes your personal data in order to carry out its obligations under this Agreement and for the additional purposes set out in our Privacy Statement, where you also find all relevant information about our data processing and about your rights in connection with our processing of your personal data. You find Riverty’s Privacy Statement here: riverty.com/en/privacy-policy/amazon-pay-by-invoice/

 

28. Consent to the disclosure of information subject to banking secrecy

Riverty has outsourced certain tasks to service providers, such as IT services, payment processing, customer service, identity verification, fraud prevention, accounting, reporting and compliance with legal and regulatory requirements. These service providers include both companies within the same group of companies as Riverty and external suppliers. In order for these service providers to be able to perform their services, we need to share certain information about you with them.

We may also share information about you with Amazon where necessary for Amazon to enable you to use the credit, prevent fraud or abuse, handle complaints, disputes, returns, or refunds and provide customer support.

In addition, we may also share information about you with other carefully selected third parties in order to provide, improve and protect Riverty’s services, comply with legal or regulatory requirements, manage risk or ensure business continuity. These third parties are mainly other companies within the same group of companies as Riverty.

You hereby give your express consent to Riverty sharing personal information about you with these service providers, with Amazon and with other carefully selected third parties for the purposes described above. The information shared may include identification and contact information (e.g. name, address and date of birth), financial information (e.g. payments and outstanding amounts), transactional information (e.g. order information, disputes, returns and refunds) and information about your use of the credit under this Agreement.

Riverty ensures that any disclosure of personal information about you is limited to what is necessary for the relevant purpose and that anyone receiving personal information about you are required to keep the information secure and confidential, either through their own confidentiality obligations stipulated by law or through having concluded confidentiality agreements with obligations that meet the same confidentiality requirements that apply to Riverty.

A list of the countries in which Riverty’s service providers are located can be found here: https://www.riverty.com/en/bank/regulatory/

If we start working with service providers in countries not yet on the list, we will update the list and notify you (for example by email). We will only share your information with providers in these new countries after 30 days. You can object during this period. If you do not object, we will consider the change accepted. We will remind you of this in our notice. If you object, you can terminate the Agreement and stop using our services.

The information sharing described in this Section may occur throughout the duration of your relationship with Riverty. When the Agreement has been terminated, the information sharing will only continue if and to the extent permitted by law and in any event not for more than ten years.

This Section only concerns Riverty's duty of confidentiality, including banking secrecy obligations. It does not change how we process your personal data, which we only do where there is a valid legal basis under applicable data protection legislation, as further described in our Privacy Statement that you find via the link in Section 27.

 

29. Complaints and out of court dispute management

If you have a complaint against Riverty, you can submit your complaint to Riverty. A complaint can be submitted in any form, i.e. verbally or in writing (including email). You find more information about Riverty’s complaints handling procedure on Riverty’s website at https://www.riverty.com/en/bank/regulatory/

If you are not satisfied with Riverty’s internal complaint handling procedure, or if you have not received a response within a reasonable period of time, you may refer your complaint to the CSSF, the supervisory authority in Luxembourg. The CSSF acts as an alternative dispute resolution body for complaints relating to financial services. Details on how to submit a complaint to the CSSF, including the applicable procedure, are available on the CSSF website at https://www.cssf.lu/en/customer-complaints/

If you use an out of court procedure for your complaint, it does not affect your general right to bring your matter before a court.

You may also refer your dispute concerning this Agreement to the Danish Financial Complaint Board (Det Finansielle Ankenævn). Further information about the procedure, fees and admissibility requirements is available at the website https://fanke.dk/

 

30. Applicable law, language and disputes 

This Agreement is governed by Danish law. The language used in this Agreement and in all communication with you related to this Agreement is English. Disputes shall be settled by the District Court of Copenhagen. Disputes may also be settled out of court by the complaints procedure described above in Section 29.