Last updated: 27.11.2025

Preamble

This document defines the general Terms & Conditions (hereinafter the “Conditions”) applicable to the use of the Payment Account service (hereinafter “Account”) made available to the User through the technological infrastructure of the company Young Platform S.p.A. (hereinafter “Young”, “Young Platform” or the “Company”), registered with the Organismo di Agenti e Mediatori (OAM) in the payment agents section.

The Account is a service provided and supplied exclusively by the company TPPay S.r.l., a payment institution authorized and supervised by the Bank of Italy pursuant to Legislative Decree no. 11 of January 27, 2010 (implementing the PSD2 Directive), duly registered in the register of payment institutions.

Young Platform acts solely as a payment agent on behalf of TPPay, pursuant to Art. 128-quater of the Consolidated Banking Act (Legislative Decree 385/1993).

Young Platform limits itself to providing the digital interface and the technological components necessary for the User to access and use the Account, without assuming direct liability regarding the provision of regulated payment services, the custody of funds, or the management of the contractual relationship between the User and TPPay. The ownership of the legal relationship relating to the Account lies exclusively between the User and TPPay. The use of the Account is subject to the full acceptance of these Conditions, as well as the contractual and informative documents prepared by TPPay, including, by way of example but not limited to, the framework contract on payment services, the information document on economic conditions, and the AML/KYC policies adopted pursuant to current legislation.

Definitions

• “Payment Account” or “Account”: the payment account held by the User and opened with TPPay S.r.l., which allows holding funds in FIAT currency, making and receiving payment transactions, as provided for by Legislative Decree 11/2010 and these Conditions.
• “Crypto Account”: the service made available by Young Platform S.p.A. through its platform, by means of which the User may hold, transfer, exchange, and manage crypto-assets. The Crypto Account is distinct and separate from the Payment Account and may be linked to the same User.
• “Young Card” or “Card”: the physical debit card associated with the Account, issued by TPPay S.r.l., usable for payment and withdrawal transactions, according to the contractual conditions established by the payment service provider.
• “TPPay S.r.l.”: Payment Institution authorized and supervised by the Bank of Italy pursuant to Legislative Decree 11/2010, exclusive provider of the payment service subject to these Conditions and holder of the contract with the User. TPPay S.r.l. is an institution registered under no. 27 of the Register of Electronic Money Institutions (IMEL), Bank Code 36928, held by the Bank of Italy pursuant to Art. 114-quater, paragraph 1, Legislative Decree no. 385/1993 and subsequent amendments (TUB), with registered office at Via Serviliano Lattuada n. 25, 20135 – Milan (MI).
• “SCA – Strong Customer Authentication”: Strong User authentication procedure, mandatory pursuant to Directive (EU) 2015/2366 (PSD2), based on the combined use of at least two independent factors.
• “FID – Fee Information Document”: document provided for by the legislation on payment services, which sets out in a standardized form the costs and economic conditions applied to the Account. Prepared by TPPay and made available to the User during the activation phase.
• “Cashback Wallet”: section of the User’s account dedicated exclusively to the reporting and viewing of YNG Tokens accrued within the scope of the Cashback Program, not immediately available for conversion or use operations within the platform. Tokens deposited in this wallet must be manually transferred to the Young Wallet (YNG) in the “Crypto” section in order to be used.
• “Young Wallet (YNG)”: digital wallet associated with the User’s Crypto Account, in which it is possible to hold, exchange, transfer, and sell YNG Tokens. Tokens transferred from the Cashback Wallet become available for the standard functionalities of the Young Platform.

Subject Matter of the Service

1.1. The Payment Account made available through the Young Platform allows the User, once the identification procedure and signing of the contract with TPPay have been completed, to:

• hold funds denominated in Euro with TPPay;
• make and receive inbound and outbound SEPA transfers;
• top up the Account via wire transfer from other bank or payment accounts;
• use associated payment instruments (physical and/or virtual card), where provided;
• access their personal area via the technological interface provided by Young Platform.

1.2. The Account is exclusively a payment account. TPPay reserves the right to update, suspend, modify, or cease the functionalities of the Account, subject to compliance with information and contractual obligations towards the User.

1.3. The Account is intended exclusively for natural persons of legal age, resident in Italy, and holding an Italian tax code (codice fiscale).

1.4. Any ancillary promotional features (such as the recognition of cashback in YNG Tokens) are not part of the regulated payment service and are subject to conditions and limits indicated separately in the specific Terms & Conditions – Cashback.

1.5. The Payment Account referred to in this document is provided by TPPay S.r.l., an authorized payment institution, by virtue of a collaboration agreement with Young Platform S.p.A. By accepting these Conditions, the User also accepts the contractual documentation of TPPay S.r.l., which governs the payment relationship with the institution, available at the following link: https://youngplatform.com/legal/transparency-tppay/. These terms apply jointly to this document and prevail in the event of a conflict regarding matters within the exclusive competence of the Institution.

Roles and Responsibilities of the Parties

2.1. TPPay S.r.l. is the payment service provider, holder of the contractual relationship with the User, and responsible, inter alia, for maintaining the account, safekeeping funds, executing payment orders, verifying the User’s identity for anti-money laundering purposes, managing payment cards potentially linked to the Account, as well as resolving complaints and contractual disputes, unless otherwise established internally between TPPay and Young Platform.

2.2. Young Platform operates as a payment agent on behalf of TPPay, performing purely executive functions of an instrumental and non-decisional nature, including:

• providing the technological infrastructure for accessing and managing the Account;
• collecting preliminary information during the onboarding process;
• routing the User to TPPay’s contractual and identification interfaces;
• providing information support and first-level technical assistance;
• securely transmitting identification data and documentation to TPPay’s systems.

2.3. Young Platform is not responsible for the safekeeping of funds, the execution of payment orders, the regulatory compliance of the service, the AML/KYC documentary verification, nor for any other fulfillment falling within the operational or legal sphere of TPPay. In the event of disputes, transactional errors, delays in payments, blocks, or closures of the Account, please refer to the paragraph dedicated infra.

Account Activation and User Identification

3.1. The activation of the Account is subject to the correct identification of the User as required by anti-money laundering legislation (Legislative Decree 231/2007) and by the regulatory provisions of the Bank of Italy regarding customer due diligence. The identification procedure is entirely managed by TPPay, also through third-party providers selected by it for remote recognition. During the onboarding process, Young Platform collects the User’s data through its digital interface and transmits them to TPPay for the necessary verifications. The contract relating to the Account is deemed perfected between the User and TPPay exclusively following the positive outcome of the User identification procedure and the correct signing of the contractual documentation by the User. Signature by TPPay will occur only if the checks on the User’s identity and the formal validity of the contractual documentation have successfully passed TPPay’s internal control and validation activities. In the absence of such a positive outcome, TPPay shall not be bound to conclude the contract.

Operational Functionalities and Payment Instruments

4.1. The Account allows the User to make and receive payments in Euro through the use of the following instruments:

• inbound and outbound SEPA transfers;
• top-ups via dedicated IBAN;
• payments via physical and/or virtual payment card, where provided.

4.2. The availability and activation of the payment instruments indicated above are subject to the User’s full completion of the onboarding process and the relative verifications required by TPPay. In the absence of completion of the entire onboarding process, none of the payment instruments will be activated. Among such instruments, the issuance of the payment card, as well as its activation, is subject to the User’s choice to expressly request it, without prejudice to the positive outcome of the onboarding and, therefore, of the verifications provided for by TPPay. In any case, TPPay’s power to modify, limit, or suspend the availability or activation of the payment instruments at any time, based on its own operational, commercial, or risk assessments, remains unaffected. ATM withdrawals as well as card transactions are subject to daily and monthly operational limits, as indicated in the updated information documentation. TPPay reserves the right to block, suspend, or revoke the use of payment instruments in the event of suspected illicit use, failure to comply with contractual conditions, or obligations deriving from anti-money laundering, anti-fraud, or counter-terrorist financing regulations.

4-bis. Payment Card

4-bis.1. The User has the right to request, through the Young Platform platform, the issuance of a payment card associated with their Payment Account, issued by TPPay S.r.l., acting as an authorized payment institution.

4-bis.2. The Card allows the User to carry out payment transactions at physical or online merchants, as well as cash withdrawals at enabled ATMs, within the limits and according to the economic conditions set out in the Information Sheet and the Payment Services Guide prepared by TPPay S.r.l., available on the Institute’s website.

4-bis.3. The availability of the Card is subject to the completion of the identification procedure (KYC).4-bis.4. In the event of theft, loss, or fraudulent use of the Card, the User is required to promptly block the instrument through the channels made available by TPPay or Young Platform.

Fees, Costs, and Limits

5.1. All costs, commissions, and usage limits of the Young Account and the Card can be consulted at any time in the dedicated section of the official TPPay website: https://link.youngplatform.com/r/cashretaildoc.

5.2. Young Platform reserves the right to unilaterally modify the costs or economic conditions of the Account and the Card, in compliance with current legislation and by giving reasonable notice to the User.

5-bis. Cashback Program

5-bis.1. This article governs the conditions applicable to the Cashback Program offered by Young Platform S.p.A. to Users holding a Payment Account and the Young Card (physical or virtual), associated with the Account on the Young Platform. The Program has an unlimited duration, subject to modifications, suspensions, or terminations communicated to Users by Young Platform, which expressly reserves such right at any time, in compliance with the information obligations provided.

5-bis.2. The Cashback Program constitutes an autonomous and optional promotional initiative of Young Platform. It represents neither a payment service nor an investment service, nor a continuous contractual obligation incumbent upon TPPay S.r.l., which is in no way responsible for its implementation, management, or termination.

5-bis.3. Method of cashback accrual: The User accrues cashback in the form of YNG Tokens against expenses made with the Young Card at physical or online merchants, within the limits and according to the percentages indicated below. Young Platform reserves the right to activate, at any time, promotional initiatives providing for improved cashback conditions, reserved for certain categories of users or linked to specific events, campaigns, or promotional periods. Such promotional conditions will be disclosed from time to time through the Platform’s official channels (website, app, e-mail, or other direct communication tools). Except as may be provided by specific promotional initiatives, once any promotional period has expired, the right to cashback is reserved exclusively: (i) to Users assigned to one of the Young Platform Clubs according to the thresholds indicated in point 5-bis.5 below; or (ii) to Users who, although not assigned to any Club, perform at least one so-called “value action” during the reference month, consisting of making at least one recurring purchase for a minimum amount of Euro 50.00 (fifty/00).

5-bis.4. The standard cashback percentages provided for each Club are as follows: Platinum Club: 3.60%; Gold Club: 1.80%; Silver Club: 0.90%; Bronze Club: 0.30%; Essential Club: 0.10%; Users not belonging to any Club, but who perform a value action pursuant to point 5-bis.4: 0.10%. In the event of subscription or assignment to a Club during the course of a month, the cashback percentage provided for the Club applies exclusively to transactions carried out subsequent to the date of subscription or assignment. Transactions preceding such date will entitle the User to cashback at the base rate of 0.10%, if accrued pursuant to point 5-bis.4.

All the following provisions refer to cashback accrued during the same calendar month.

Subscription to a Club constitutes, where applicable, a Value Action pursuant to point 5-bis.3, enabling the crediting of cashback accrued prior to the subscription date. Every User, regardless of their status, accrues cashback on all eligible transactions. However, the right to the relative credit depends on: (i) the actual performance of a Value Action, subscription to a Club, or continued membership in one of the Clubs; (ii) the applicable percentage, determined based on the level of Club membership or the base measure provided for Users not belonging to any Club.

The cases relating to the accrual of cashback mentioned above are reported below:

• User already belonging to a Club: cashback is accrued and credited automatically at the percentage provided for the Club of membership, in relation to all transactions carried out in the calendar month.
• User leaving the Club during the month (voluntarily or due to loss of requirements): the percentage provided for the Club applies exclusively to transactions carried out up to the date of termination of membership. Transactions carried out after such date accrue cashback at the base rate of 0.10%, the crediting of which is not automatic. In this case, any crediting of cashback accrued after termination is subject to the performance of a Value Action pursuant to point 5-bis.4.
• User subscribing to a Club during the month: transactions carried out before the subscription date accrue cashback at the base rate of 0.10%. Transactions carried out after the subscription date accrue cashback at the percentage provided for the new Club of membership. The entire cashback accrued in the month is liquidated, applying for each transaction the percentage valid on the date the transaction was carried out.
• User downgrading a Club: up to the date of the downgrade, the higher percentage provided by the original Club applies. From the date of the downgrade, the lower percentage of the new Club of membership applies.
• User upgrading a Club: up to the date of the upgrade, the lower percentage of the originating Club applies. From the date of the upgrade, the higher percentage of the new Club of membership applies.
• User not belonging to any Club: the User accrues cashback at the base rate of 0.10% on all transactions. In the absence of a Value Action, the accrued cashback is not credited and is therefore lost.

5-bis.4. [sic] Crediting conditions: Access to the Cashback Program is granted exclusively to Users who:

• are holders of an active Payment Account with TPPay S.r.l., activated via the Young Platform platform;
• have activated the Young Card (physical or virtual);
• have complied with the criteria indicated below;
• do not have ongoing Account closure proceedings or contractual violations.

5-bis.5. Cashback is calculated on a monthly basis, taking into consideration all valid transactions carried out between the 1st and the last day of the reference calendar month. The cashback amount shown on the platform is purely indicative, as it is expressed in Euros on an estimated basis, and does not constitute a claimable credit until actually credited. The value actually credited is determined in YNG tokens, based on the market price of the token detected on the date of credit, as published on the Young Platform. It is specified that for the purposes of cashback accrual, only the transaction confirmation date is decisive, understood as the date on which the transaction passes from “pending” status to “confirmed” status according to the information transmitted by TPPay. The date of execution or preliminary accounting of the transaction, where different, is irrelevant for the purposes of calculating the cashback.

5-bis.7. Crediting is carried out in YNG tokens, by the 1st day of the following month, barring force majeure or technical impediments, and in any case no later than the 5th working day following the end of the reference month, calculated based on the market value of the YNG token detected on the credit date, as published on the Young Platform. The maximum cashback amount recognizable to the User for each calendar month is proportionate to the monthly spending limit applicable to the Program, as defined and updated by TPPay. The latter reserves the right to modify such monthly spending limit at any time. Any changes produce effects exclusively for the future, leaving the cashback rights already accrued prior to the effective date of the new limit unchanged. Young Platform expressly reserves the right to re-introduce, modify, or remove at any time, in relation to cashback, the thresholds, caps, or quantitative limitations on recognizable cashback, subject to communication to Users via the platform’s official channels. Such modifications do not entail any right to indemnification or maintenance of previous conditions.

5-bis.8. Crediting will occur only if the monthly accrued amount exceeds the minimum threshold of Euro 0.01.

5-bis.9. Exclusions and Limitations: The following do not accrue the right to cashback: (i) cancelled or refunded transactions; (ii) fraudulent transactions or those contrary to these Terms and Conditions; (iii) users who have requested the closure of the Account prior to the credit date; (iv) users who have not completed profile verification or who appear suspended.

5-bis.10. Young Platform reserves the right to (i) modify the conditions of the Cashback Program at any time (e.g., percentages, calculation criteria, thresholds); (ii) temporarily or permanently suspend the Program, with notice to Users via email, app, or website; (iii) exclude individual users in the event of abuse, misconduct, or improper use of the Card. Such modifications do not entail the right to any compensation, indemnity, or maintenance of previous conditions.

5-bis.11. The following types of operations do not contribute to the calculation of cashback and, therefore, do not entitle the User to the crediting of YNG Tokens:

• a) Cash withdrawals via automated teller machines (ATMs);
• b) Money transfer operations such as top-ups, wire transfers, money remittances, or peer-to-peer (P2P) transactions, including (i) account top-ups; (ii) payments between private individuals and transfers to personal wallets or accounts;
• c) Payments via intermediary wallets or cards, including non-compliant digital wallets or third-party cards;
• d) Operations towards financial institutions, including banks, insurance companies, credit unions, payment service providers, or financial brokerage firms;
• e) Transactions equivalent to cash, including: (i) purchase of traveller’s cheques, foreign currencies, prepaid cards;
• f) Investment operations or purchase of financial instruments, including shares, ETFs, bonds, funds, or crypto-assets;
• g) Operations relating to gambling, lotteries, or betting, including casinos, online gaming platforms, national or international lotteries;
• h) Operations cancelled, refunded, or not accounted for at the time of the monthly cashback calculation;
• i) Fraudulent or anomalous transactions, or those in violation of these Terms & Conditions;
• j) Any other type of operation that Young Platform, at its sole discretion, deems extraneous to the promotional purposes of the Cashback Program and which will be promptly communicated to the User by updating these Terms & Conditions or via in-app notification.

5-bis.12. Tax Notes: The cashback disbursed in YNG tokens by Young Platform is qualifiable, for tax purposes, as a non-onerous airdrop, inasmuch as it is attributed free of charge to the User against certain promotional behaviors, without direct consideration. For the purposes of calculating capital gains (plusvalenza), the fiscal acquisition cost of the YNG token received via cashback is equal to Euro 0.00 (zero/00). Therefore, the entire consideration obtained from the subsequent sale, exchange, or conversion of the aforementioned YNG tokens is relevant as taxable capital gain, to be subject to taxation charged to the User at the time of disposal. The User is exclusively responsible for the correct tax management of the tokens received, including: (i) the fulfillment of fiscal monitoring obligations; (ii) the declaration of any capital gains realized, according to the provisions of current Italian tax legislation; (iii) the punctual payment of taxes due, including those relating to capital gains, miscellaneous income, or other tax charges connected to operations carried out through the Service, in accordance with applicable tax regulations.

5-bis.13. In the event of a request for Account closure by the User, any cashback accrued and not yet credited will not be recognized if referred to the month in which the request was submitted, as provided supra.

User Obligations

6.1. The User undertakes to use the Account in full compliance with these Conditions, the current legislation on payment services, as well as provisions regarding the prevention of money laundering and terrorist financing.

6.2. In particular, the User:

• guarantees the truthfulness, accuracy, and updating of the information provided during registration and throughout the relationship;
• undertakes to promptly communicate any change in their identification and contact data;
• refrains from using the Account for illicit, fraudulent operations, or operations non-compliant with anti-money laundering regulations;
• diligently safeguards access credentials, avoiding their disclosure to third parties;
• immediately reports to TPPay or through Young Platform channels any suspected unauthorized use of the Account or loss of access credentials or associated payment instruments.

Security, Fraudulent Use, and Liability

7.1. TPPay adopts suitable technical and organizational measures to guarantee the security of payment transactions and the protection of the User’s personal and financial data. Access to the Account occurs via strong authentication systems (Strong Customer Authentication – SCA) compliant with PSD2 regulations.

7.2. The User is responsible for the correct and diligent use of the Account and the payment instruments associated with it. In the event of unauthorized operations or operations carried out fraudulently, the User is required to give immediate notice to TPPay and, where required, file a report with the Competent Authorities.

Withdrawal, Suspension, and Account Closure

8.1. The User has the right to request the closure of their Account at any time. Such a request does not automatically entail the closure of their Crypto Account, unless the User makes an express request to that effect. The Crypto Account constitutes, in fact, the main service offered by the Company, whereas the Payment Account is a service offered by the Institution TPPay and made available by Young Platform acting as a payment agent. Therefore, in the event that the user intends to request the closure of their Crypto Account, such request shall entail the termination of every contractual relationship between the User and Young Platform, including all ancillary services or services offered by third parties, including the Payment Account.

8.2. The Account closure process occurs manually. The User must send a specific request to customer support via email at [email protected]. The Company will take charge of the User’s request and will proceed to transmit the application to TPPay for activities within its competence.

8.3. The closure of the account occurs without charges and expenses to the customer. However, the customer is required to pay in full all fees, commissions, and charges accrued and due to Young Platform S.p.A. for agency and ancillary services, and to TPPay S.r.l. for payment services. Such amounts do not constitute penalties for the exercise of the right of withdrawal, but represent service usage costs already accrued and due based on the economic conditions subscribed to. Young Platform’s commissions relating to the annual fee will be calculated proportionally with respect to the months of actual use of the service during the reference calendar year. For the application of the calculation, the current year and the moment of activation of the Account by the User are considered. Should the balance on the account not be sufficient to cover the fees, commissions, and charges due for the activities of Young Platform and TPPay, the two intermediaries will represent such eventuality to the customer within the term referred to in the preceding paragraph 8.2, in order to allow them to integrate the sums present. Should this not occur, the two intermediaries reserve the possibility of taking legal action for the recovery of amounts due.

8.4. The technical cancellation of any pending movements will be carried out by the TPPay support team only following verification of the completeness of the activities indicated in point 8.3.

8.5. Upon closure of the Account, the User shall lose the right to obtain the crediting of any amounts accrued and not yet liquidated, relating to ongoing cashback programs, referred to the month in which the closure request was sent.

Personal Data Processing

9.1. The Parties declare and guarantee that any Processing of Personal Data carried out in the execution of these Terms and Conditions shall occur in full compliance with Regulation (EU) 2016/679 (“GDPR”), applicable national legislation regarding the protection of personal data, as well as provisions issued by the Data Protection Authority, where relevant.

9.2. With reference to Personal Data collected during the User registration and onboarding phase on the Platform, Young Platform shall operate as an independent data controller, determining the purposes and means of the processing.

9.3. Concerning, instead, the User’s Personal Data connected to the management of the payment account, Young Platform shall act as a data processor pursuant to Article 28 of the GDPR, on behalf of TPPay. The relevant relationship is governed by the specific Data Processing Agreement signed between the Parties.

9.4. For the purposes of opening and managing the Payment Account, the User acknowledges that the personal data provided will also be processed by TPPay S.r.l. as an independent data controller. The User is required to consult and accept TPPay’s Privacy Policy, available on the IMEL’s website itself. The application of Young Platform S.p.A.’s Privacy Policy, available on the Company’s official website and expressly accepted by the User, remains unaffected.

Governing Law and Competent Court

10.1. The contractual relationship with the User is governed by Italian law. In the event of disputes inherent to the interpretation, execution, or validity of these Conditions, exclusive jurisdiction shall lie with the Court of the place of residence or domicile of the User, where the latter qualifies as a consumer pursuant to Legislative Decree 206/2005.

10.2. For any other dispute, the Court of Turin shall be competent, except in cases where the law provides for the mandatory nature of a different forum.

Contractual Amendments

11.1. Young Platform reserves the right to modify these Terms & Conditions at any time, as well as the economic conditions applicable to the Account, in compliance with current legislation regarding payment services and consumer protection.

11.2. Proposed modifications will be communicated to the User in electronic form, through the specific section of the Young Platform platform or via another suitable telematic channel, with a minimum notice of 15 (fifteen) days with respect to the date scheduled for their entry into force.

11.3. The User has the right to accept or reject the proposed modifications. In the event of non-acceptance, the User may withdraw from the contract free of charge within the aforementioned term, with immediate effect and without penalty, without prejudice to the right to reimbursement of the residual balance.

11.4. Once the notice period has elapsed without the User having exercised the right of withdrawal, the modifications are understood to be tacitly accepted and shall become binding for both parties.

11.5. Modifications deriving from mandatory regulatory or legal obligations may have immediate effect, without obligation of notice, where provided for by law.

Mandate to the Payment Institution

12.1. The User, by accepting these Conditions, confers upon TPPay, through Young Platform S.p.A., a mandate with representation for the execution of activities necessary for the opening and management of the Account, as provided for in the contract in place between Young Platform and TPPay.

12.2. The mandate has as its object the instrumental activities necessary for the establishment and management of the relationship between the User and TPPay, including, by way of example:

• the transmission of the User’s contractual and identification documentation;
• the collection of contractual acceptances in electronic format;
• the receipt of dispositive or operational requests from the User to be forwarded to TPPay;
• informational assistance and management of the first-level support channel.

12.3. The mandate takes effect between the Parties upon confirmation of the opening of the Account and remains valid for the entire duration of the relationship, unless expressly revoked by the User or upon termination of the contractual relationship with TPPay.

12.4.  The User acknowledges and accepts that the activities carried out by Young Platform in execution of the mandate are to be considered binding towards TPPay, within the limits of the authorisations conferred, and that any eventual modification of the mandate will be communicated to the User through the official channels of Young Platform.