Each of the parties shall treat all information or documents acquired from the other party (hereinafter “disclosing party”) prior or subsequent to the time this contract enters into force and information otherwise acquired but pertaining to this contract or its conditions (including sales documentation) or to the business, the financial situation, the products and expectations, processes and methods, customers and employees of the other party (in particular company or business secrets), as well as any other information or documentation with strict confidentiality (hereinafter: confidential information). This applies irrespective of whether they are classified as confidential or by their nature deemed to be confidential.
Neither of the parties shall use or make confidential information available to their employees, contractual partners or consultants, nor shall they communicate them to third parties (in particular associated business of the parties) unless this is necessary to fulfill their contractual obligations in this agreement (this refers to communicating the Bank’s right, transactions or other data to MasterCard or Visa or to third party service providers). The parties shall inform every recipient of the confidential nature of the information before it has been sent and obligate every recipient to adhere as well to strict confidentiality such as is regulated in this contract.
The obligation of confidentiality does not apply to confidential information which (a) was already known to the receiving party prior to and independently of the execution or implementation of this contract, (b) is/was already common knowledge through means other than a breach of provisions in this § 8 (c) or information that must be disclosed as a requirement by law or due to a judicial or court order.
Any confidential information shall remain in the ownership of the disclosing party and may only be copied or reproduced with his prior written consent. Upon the disclosing party’s request, the other party must give back or destroy the confidential information and its embodiment and must confirm such destruction in writing.
The Contractual Partner and the Bank undertake to comply with all applicable laws to protect personal data when collecting, processing and using this information.
The above obligations continue to apply after termination or expiration of this contract, until the receiving party proves that the confidential information has become generally known through means other than the receiving party violating these obligations.
Masterpayment combines the core capabilities of an acquirer with those of a payment service provider and adds the regulatory possibilities of a renowned bank into our service portfolio at leading edge prices.
Masterpayment is an innovation driver for the areas of crypto exchanges, ICOs and wallets.
The traditional customer portfolio ranges from retail merchants to digital content, Gaming and Gambling customers to remittance/financial services.
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