Terms and conditions

Terms and conditions

Applicable terms and conditions

The relationship between bonsai (“bonsai”) and her clients (“Member(s)”) is governed by these terms and conditions (“Terms and Conditions”). To the extent a certain issue has not been addressed in the Terms and Conditions, the applicable law, or in the absence thereof, the generally accepted practices in the payment services industry will apply.

Upon downloading the bonsai-application (“Application”) and registering, the Member accepts the Terms and Conditions and acknowledges that he/she has read, understood and saved a copy thereof. The Terms and Conditions are available on the website of bonsai (www.paybonsai.com). The Member expressly agrees that all communications and documents are sent by email or in another electronic way (e.g. available in the Application or on the website).

Bonsai reserves the right to modify the Terms and Conditions. Upon modification, a notification is sent to the Members in the Application. All modifications will enter into force two months after the notification was sent to the Members. The Member who refuses to accept the modifications has the right to terminate the agreement between him/her and bonsai and to end the use of the services offered by bonsai during these two months, by deleting the Application. Further use of the Application after the two months’ notification entails an acceptance of the modifications. However, bonsai can immediately apply a modification in the costs and the fees related to the downloading and use of the Application. The Member will be notified as soon as possible afterwards.

The Member expressly agrees that the contractual language is English and that all information provided to him/her will be in English (including the Terms and Conditions, the Application and all information available in the Application).

Company information

Bonsai is the registered trade name of Bonsai NV, a limited liability company according to Belgian law (naamloze vennootschap; société anonyme), with legal address at Jules Destréelaan 63B, 9050 Gentbrugge, Belgium, and registered in the Crossroads Bank for Enterprises under the company number 066 377 48 59.

Bonsai offers the following payment services:

  • Execution of payment transactions
  • Execution of payment transactions where the funds are covered by a credit line for a payment service user
  • Acquiring of payment transactions
  • Payment initiation
  • Account information services

Bonsai is a licensed payment institute according to the Belgian law of 11th March 2018 (‘Wet betreffende het statuut van en het toezicht op de betalingsinstellingen en de instellingen voor elektronisch geld, de toegang tot het bedrijf van betalingsdienstaanbieder en tot de activiteit van uitgifte van elektronisch geld en de toegang tot betalingssystemen’) and is supervised by the National Bank of Belgium.


All communications and notifications can be sent to bonsai by mail (support@paybonsai.com).

Downloading + registration + sepa direct debit mandate

The Member can only use the Application after downloading the Application, accepting the terms and conditions and completing the registration process.

By downloading the Application, bonsai offers the Member a strictly personal, non-exclusive use of the Application, including future updates. It is clearly agreed that no property rights or intellectual property rights are transferred to the Member and bonsai reserves all rights related to the Application. The trade names, marks and logos are equally property of bonsai and may not be used without prior approval of bonsai.

The downloading of the Application is free of any charge. All network costs are exclusively for the Member.

As part of the registration process, the Member can choose to use the Application to execute payments (registration as a “Payer”) and/or to accept payments in euro (registration as “Acceptor”).

Both Payer and Acceptor need to have the Application installed on their smartphone or tablet to execute a payment between them.

All transactions made through the Application are referred to as “Activity”. In the Application, the Member sees an overview of the Activity. The acquiring, the execution and the initiation of the Activity as well as the account information service are referred to as the “Services” offered by bonsai.

The Member registers by providing the following information: first name, last name, email, phone, password.

A registered Member may choose to further register as an Acceptor or/and as a Payer by providing the following information:
as an Acceptor: enterprise number, VAT, brand name, company IBAN (“Acceptance Account”), and going through the KYC (Know Your Customer) process;
as a Payer: a PIN, IBAN (“Payer Account”), address and going through the KYC (Know Your Customer) process.

Registration as a Member is only permitted to natural persons of the age of 16 or older. Registration as an Acceptor is only accessible for legal entities.

As part of the registration process, the Payer adds a Payer Account and gives an explicit consent to:

 1/ grant a European Sepa Direct Debit CORE-mandate on its Payer Account (“SDD mandate”) to the Creditor as defined below; and

2/ to allow Cashfree, as payment service provider, access to the Payer Account.

In order to give explicit consent to create the SDD mandate and the access to the Payer Account, the Payer is automatically redirected in the Application to the banking application of the financial institution where the Payer holds its Payer Account (ASPSP or Account Servicing Payment Service Provider). The Payer needs to login with the credentials from the ASPSP and follows the strong customer authentication procedure as enforced by the ASPSP. Once the Payer has completed the strong customer authentication procedure, the SDD mandate is validated and bonsai has access to the Payer Account.  

All Activity that has not yet been settled, is referred to as “Open Activity”.

The SDD mandate allows the Creditor to send instructions to the Payer’s ASPSP to debit the Payer Account and the Payer’s ASPSP to debit the Payer Account in accordance with the instructions received from the Creditor.

Payer: name and address as indicated during the registration

Creditor: Bonsai NV – Jules Destréelaan 63B, 9050 Gentbrugge.

Creditor Identifier: BE39ZZZ0663774859

IBAN: the Payer Account

Identification of the underlying contract: purchasing of services and goods through the Application

Type of payment: recurrent

The SDD mandate is considered activated after the explicit consent from the Payer through the strong customer authentication-procedure as described above.

The SDD mandate can be revoked by sending a request to support@paybonsai.com.


The access to the Payer Account allows bonsai to provide account information services and/or payment initiation services. Having granted such access, the Payer authorizes bonsai to check the balance from the Payer Account upon execution of a payment with the Application (“Available Amount”) and/or allows bonsai to initiate the payment directly from the Payer Account from the Payer upon execution of a payment with the Application (“Payment Initiation”).

The flow of the payments with the Application, either by SDD mandate or by Payment Initiation, are described below.

Use of the application

The Payer disposes of a limit up to a certain amount to execute payments (“Payer Limit”). In the Application the Payer sees an overview of his/her Payer Limit, the Open Activity and the Activity. If the Payer Limit is higher than the Available Amount, the Payer Limit will be reduced to the Available Amount.

The Payer Limit relates to the Open Activity and is renewed at each time the Open Activity has been settled.

Upon registration as a Payer, the Payer disposes of a Payer Limit of € 150. The Payer Limit is increased to € 250 after additional KYC-verifications have been performed. The Payer Limit can equally be increased to a higher level upon request of the Payer and after an internal risk analysis by bonsai and at its sole discretion. Bonsai is always entitled to deny a request for a higher Payer Limit.

In derogation thereof, a Payer that is younger than 18 years, will only dispose of a Payer Limit of € 125.

To execute a payment, both Payer and Acceptor open the Application. The Acceptor enters the exact amount that needs to be paid for the product or service and the Payer authorizes the payment by scanning the QR code that is shown on the tablet or smartphone of the Acceptor and confirming with the Payer’s PIN or touch ID (“Authorization”). The Acceptor and Payer are expressly informed that only the exact amount of the product or service can be paid with the Application. It is explicitly forbidden to pay or accept for payment any additional amount (‘Cash Withdrawal’). Once the PIN or touch ID has been logged, the Payer can no longer revoke the payment. The Acceptor receives a payment confirmation on his/her tablet or smartphone.

The payment flows towards the Payer can be managed in two different ways by bonsai:


1. Check balance and settlement through the SDD-mandate

At the moment of the Authorization, the available amount on the Payer Account is verified before payment confirmation in the Application.  The Payer Account is usually debited one to two days after the Authorization, without prejudice to bonsai’s right to debit the Payer Account at a later time. All payments authorized appear in the transaction history list. The Payer accepts that this appearance is a pre-notification of the collection through the Sepa Direct Debit-mandate and that this pre-notification can be up to one day before collection.

In case of insufficient coverage, the Creditor is entitled to, but under no obligation, to request up to three additional debit attempts.

The Payer has the right to request a refund of a debited amount (or a refusal of a pre-notified collection) and this during a period of 8 weeks. The Payer should contact his/her ASPSP to execute such right.


2. Payment initiation

At the moment of the Authorization, the payment is initiated directly from the Payer Account and the Payer is redirected automatically to a strong customer authentication procedure between the Payer and the ASPSP before the Payer is redirected to the bonsai-app with a payment confirmation. These payments will not be collected through a SDD mandate. In that case, the provisions regarding the SDD mandate are not applicable.

The payment flow towards the Acceptor is managed by bonsai within 2 bank days. In the particular case of a Cash Withdrawal, the amount that bonsai pays to the Acceptor is limited to the exact amount of the service or product bought by the Payer. Bonsai is entitled to request a copy of the receipt to the Acceptor prior to payment.

The Payer is responsible for every payment that has been initiated from his smartphone. All payments authorized appear in the transaction history list.

The costs related to the Services are mentioned in the Frequently Asked Questions available on the website (www.paybonsai.com)

The Application features a store locator which allows the Member to see a list of Acceptors in the neighborhood where bonsai can be used. Bonsai only has access to the location of the Member to define the list of nearby Acceptors if and to the extent the Member has approved the request for access in the Application. The request for access is managed by the system provider of the device (e.g. Google or Apple) and subject to their policy.

Bonsai is authorized to deactivate or block the Member’s use of the Application in the following circumstances:

  • Bonsai does not succeed in settling the Open Activity with the Acceptance Account or the Payer Account;
  • Suspicion of fraud;
  • Receipt of a notification of loss or theft (as specified below);
  • Bonsai no longer supplies the Application;
  • Bonsai deems a limitation of the Activity necessary (e.g. for security reasons).

A prior notification will be sent to the Member or, in failure thereof, the Member will be informed immediately afterwards. Such notification will not be sent if bonsai is legally prohibited from doing so or has reasonable grounds to consider it more secure not to notify the Payer.

The Member is never entitled to any indemnity whatsoever in case of blocking or deactivating of his/her Application.


Representations and warranties by the payer

The Payer warrants that the information about the Payer Account, as registered, is complete and accurate.

The Payer ensures that the Payer Account has sufficient funds available for all Open Activity, at the time of debit as mentioned above. In case of insufficient coverage and as long as the Open Activity has not been settled, bonsai has a claim on the Payer for the amount non-debited.

Payment history

The Member has access to an overview of all Activity in the Application up to a period of 5 years. In case the Activity of a Member has a very large volume, bonsai preserves the right not to have the Activity disclosed into the Application but available upon request at support@paybonsai.com.

Security + unauthorised payments

The Member is responsible for using the Application according to the Terms and Conditions and for taking all precautionary measures to avoid that any unauthorized person has access to the Application and the Services. This means, inter alia, the following:

  • Do not disclose the password or pin code to other people
  • Do not keep the password or pin code with the smartphone or tablet
  • Never leave the smartphone or the tablet unattended in a publicly accessible place
  • Do not leave the smartphone or tablet in a car
  • Do not lend the smartphone or tablet to other people

The Member shall as soon as possible inform bonsai if he/she has reason to believe that an unauthorized person has gained access to the Application, including theft or loss of the smartphone or tablet onto which the Application was installed. Bonsai will, upon receipt of such notification, block the Application for the Member. The notification can be done 24/7 by calling the number +32 478 874 800.

If the Member fails to meet the precautionary measures and/or to notify bonsai, he/she will, without prejudice to legally binding limitations of liability, always be responsible for the Activity.

If an unauthorized payment results from the Member failing to keep his pin code or password safe, including theft of the smartphone or tablet, the Member shall bear the related losses up to a maximum of € 50. If an unauthorized payment results from the Member failing with gross negligence or intended fraud to fulfill one or more of his obligations, the Member shall bear all the related losses without any limitation.

The following is considered as gross negligence:

  • Disclosing the pin code or password to other people
  • Failing to notify bonsai of the fraud, loss or theft
  • Leaving the smartphone or tablet in a publicly accessible place
  • Keeping the password or pin code with the smartphone or tablet
  • Leaving the smartphone or tablet in the car
  • Lending the smartphone or tablet to other people

The Member shall not bear any financial consequences for unauthorized payments that are initiated after bonsai has received the notification, as mentioned above.

The Member shall obtain rectification from bonsai only if the Member notifies bonsai without undue delay on becoming aware of any unauthorized or incorrectly executed payment transactions giving rise to a claim, and in any case not later than 13 months after the debit date, unless bonsai failed to provide or make available information on the Activity in the Application.

In case of such notification of unauthorized or incorrectly executed payment and to the extent that bonsai is liable, it shall without undue delay refund to the Member the amount of the non-executed or defective payment and, where applicable, restore the debited Payer Account to the state in which it would have been had the defective payment not taken place.

In case of a non-executed or defectively executed payment and this payment was initiated by the Member, bonsai shall – regardless of liability – make immediate efforts to trace the payment upon request of the Member.

By registration on the website and accepting the Terms and Conditions, the Member consents to the use and processing of his/her personal data by bonsai.

Upon registration and downloading of the Application and while using the Services, bonsai processes personal data of the Member. In compliance with the legal provisions on the protection of privacy, the Member is informed that the responsible for processing (verantwoordelijke voor de verwerking; responsable du traitement) is Bonsai NV with registered office at Jules Destréelaan 63B, 9050 Gentbrugge, Belgium.

The processed data consists of the registration details as specified above.

The processed data is used to:

  • Deliver the Services to the Member
  • Comply with all applicable legal requirements and guidelines and regulations (e.g. anti-money laundering and statutory record retention periods)
  • Prevent fraud
  • Draw statistics and tests (market and customer analysis)
  • Adjustment and quality control of the Services
  • Training of staff
  • Marketing activities (commercial prospects and direct marketing)

With this purpose, and unless legally provided otherwise, the Member agrees that bonsai collects information on him/her from him/herself and/or from authorized third persons (e.g. Belgisch Staatsblad; Moniteur belge). The Member agrees that bonsai shares his/her personal data with companies that offer services to bonsai (e.g. outsourcing) to the extent that the sharing of this information is essential to provide their services and with third authorized parties if and to the extent that the sharing is legally obliged by bonsai and/or its outsourcing partners.

At any time the Member has the right to request an overview, a rectification, a blocking or a deletion of his/her personal data. To exercise this right, the Member needs to send an email to support@paybonsai.com.
Limitation of liability

The downloading of the Application is made on the sole responsibility of the Member and bonsai cannot be hold liable for any damages to the smartphone or tablet of the Member. Bonsai is neither liable for any damages resulting from the use of the Application.

The Application is provided without any guarantee whatsoever in relation to the accessibility, the accuracy or the functionality. Bonsai is not liable for damage resulting from shortcomings or technical failures, except to the extent that such failure has been caused by deliberate recklessness or gross negligence on the part of bonsai.

Bonsai is always entitled to close down the Application for maintenance, service and upgrades. Bonsai will always attempt to notify the Member in advance but cannot guarantee that such notification will always reach the Member.

In any case and without prejudice to any other limitations of liability as stated in the Terms and Conditions, bonsai can never be liable for any indirect damages or loss suffered by the Member or third parties.


All complaints with regards to the bonsai services can be send to support@paybonsai.com.

In case the Member is not satisfied with the response of bonsai, he/she can always send a complaint to Ombudsfin – North Gate II, Koning Albert II-laan 8, bus 2, 1000 Brussels or Ombudsman@ombudsfin.be.

Term and termination

By registration and downloading the Application, the Member enters into a contractual relationship with bonsai for an unlimited period of time.

The Member can terminate the agreement at any time by deleting the Application from its smartphone or tablet. All payments that have been made prior to the deletion, will still be settled.

Applicable law and jurisdiction

The Terms and Conditions are governed by Belgian law and subject to the exclusive jurisdiction of the competent Courts of Ghent, Belgium.