Managing Your Account

Note: Before you sign up for Centi, ensure that all your personal information is real, correct, and up-to-date.

To register, each Centi App client must have a mobile number from one of the following countries:

Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, United States, Poland, South Korea.

To create a Centi account, follow the steps below:

1. Download the Centi App:

  • For Android, search and download Centi from the Google Play Store.
  • For iOS, search and download Centi from the Apple App Store.
  • Ensure you select the right version for your needs.

2. Open the Centi App:

  • Provide your name, a valid email, and a mobile number. Tap “Next.”

3. Agree to Terms and Policies:

4. Email Confirmation:

  • After successful registration, you’ll receive a confirmation email. Click the link in the email to confirm your address.

5. Phone Number Verification:

  • After confirming your email, proceed to phone number verification. You’ll receive an SMS with a verification code. Enter it to continue.

6. Create Your Paymail:

  • Once your email and phone number are confirmed, create your Paymail. This will be linked to your wallet, allowing secure sharing of wallet details with other users.

7. Record Mnemonic Words:

  • Write down your mnemonic words. These guarantee access to your wallet at all times. Confirm secure storage of your mnemonic words before proceeding.
  • Important: Keep this phrase secure and do not share it with anyone. Losing this phrase means losing access to your funds.

 

Completion:

  • You’ll be led to the home screen of your wallet, confirming that you’ve successfully created your account and can start using Centi.
To ensure a safe and secure experience with Centi, users will be required to verify their identity if they opt out for payment via Credit Card. To get started with the verification process, ensure your front camera is working for a passport and selfie scan, and follow the steps below:

1. Sign Up and Log In:
  • After signing up, log in to your account on the Centi app using your credentials.
2. Navigate to the Exchange Section:
  • Go to the “Exchange” section in the app and select the payment method by Credit Card.
3. Complete the Verification Steps:
  • Make sure your front camera has access and is functioning properly.
  • Follow the on-screen instructions and provide the required information, including a scan of your ID or passport.
4. Completion:
  • After successfully completing the verification process, you will be able to continue to make a payment via Credit Cards.
By following these steps, you will ensure that your account is verified and secure, allowing you to make payments via Credit Card for exchanges within the Centi app.
To update your personal information in the Centi app, follow these steps:

1. Go to Settings:
  • Open the Centi app and navigate to the “Settings” section at the bottom right of the screen.
2. Make Necessary Changes:
  • You can update your profile information such as name, phone number, password, and profile image.
  • Note: Some changes, such as updating your phone number, need to be verified. Follow the on-screen instructions to complete the verification process.
3. Save Changes:
  • Ensure all changes are saved and verified where necessary.
By keeping your personal information up-to-date and verified, you maintain the security and functionality of your Centi account.

The Centi app is designed with simplicity in mind, making it very easy to use, even for beginners. After completing a few straightforward signup steps, you’ll be able to navigate through the app using these main features:

Top Menu:

  • Exchange: Go to this section when you want to increase your app balance.
  • History: Here, you can review all your past transactions.
  • Receive: This is where you can view your paymail address or share a QR code of it with others.

Bottom Menu:

  • Wallet: Displays your digital cash and their amounts.
  • QR-Code Scanner: Scan QR codes for payments or manual payment entry.
  • Settings: Adjust all your app preferences.
  • Shopping: Access “spaces” set up by merchants or return to the default space.
  • Wallet: Displays your digital cash and their amounts.
  • QR-Code Scanner: Use this feature to scan a QR-Code from a friend or to pay an invoice QR-Code provided by a merchant. You can also click on “manual payment” here if you prefer to enter payment details manually.
  • Settings: This is where you can adjust all your Centi app preferences.
  • Shopping: This area lets you access what we refer to as “spaces”, which merchants can set up or collaborate to establish with other merchants. Our QR-Code scanner also reads Space QR-Codes, taking you directly to a specific space. If you want to return to the Centi default space, you can select the default space in the settings menu.

Your Privacy policy

Centi’s self-custodial wallet ensures only you can access your funds. You can restore your wallet if you lose your phone or e-mail access.

At Centi, we treat the data you provide with the utmost care and in full compliance with rules and regulations.

Centi ensures your privacy but not anonymity. This means that Centi and the merchant may be aware of transaction details such as the paymail address used and the exact transaction ID. We may also log additional details, like your IP address.

Importantly, we do not record transaction metadata, such as your paymail handle, on the blockchain. This information remains private within our system. Merchants can only access data related to transactions you made with them, not those made with other merchants within the Centi ecosystem.

Centi is an electronic cash payment enabler to the consumer and merchant alike. Neither the merchant nor Centi know the identity of the person who makes the payment unless a customer opts in for identification (to make use of features which would require identification). Customers who are very privacy aware should ensure privacy measures are taken on the side of their used wallet interface software.Protecting your data and financial details is very important to us. Checkout out our Terms & Conditions and Privacy Policy.

 

Phishing Awareness

Phishing is a type of online fraud where scammers try to trick you into revealing your personal details by posing as a legitimate company, typically through email.

  • What do phishing emails look like?
    • These emails mimic the legitimate company’s logo, color scheme, and typeface.
  • What will phishing emails say?
    • They often claim there’s an issue with your account, confirm your credit card or that you’ve won a prize and prompt you to log in to resolve the issue. Do not log in or click any links.
  • Should I click any links in a phishing email?
    • No, don’t click these links. Logging in through a phishing email can result in your card details or identity being stolen.

Preventive Measures:

  • 3D Secure Technology: Centi enforce 3D Secure Technology on all credit card transactions to prevent unauthorized charges. You will never be charged by Centi Ltd without 3D Secure verification. Only confirm a 3DS payment if you are certain you want to make the payment to the indicated recipient.
  • Vigilance: Centi Ltd is not associated with any second-hand trading platforms and will never invoice your card except for our exchange services. We are not involved in verification procedures for other platforms.
  • Check Website Legitimacy: Use tools provided by iBarry to verify the trust score and legitimacy of websites.

We acknowledge users’ requests to close Centi accounts. As outlined in our Terms, we value our users’ preferences and understand the need for account adjustments. To process your account closure, please contact us at support@centi.ch using the email address you registered with. Typically, we aim to respond within 12 hours. Before closing, please review the following:

  1. Ensure Compliance: Make sure you comply with all applicable laws.
  2. Backup Your Wallet: Ensure you have an adequate backup of your original wallet, including your mnemonic phrase, as this is essential for accessing your funds.
  3. Notify Us: Notify us immediately if there is a possibility that third parties could have unjustified access to your wallet interface, login credentials, or backup phrase.
  4. Account Termination: Be aware that upon termination, your encrypted wallet copy will not be accessible through Centi’s interface.
  5. Data Retention: As per our privacy policy, we are committed to your data’s safety and integrity. If your account has involved exchanges with us, we are obligated to retain some of the data for compliance reasons.

Promoting Responsible Spending

Encouraging responsible spending, such as only using what you actually have, helps make better purchase decisions. This approach not only supports responsible financial behavior but also reduces costs through saved fees, lower product return rates, and decreased fraud.

Impact on Traditional Banking and Payment Services

Fraud will always exist, despite compliance with regulatory standards. However, when it does occur, neither the bank nor the payment service provider should be part of it. Peer-to-peer payments enable service providers like Centi Ltd to earn revenue from auxiliary processes, such as providing on and offramps, without being financially involved when a consumer and a service provider agree to do business.

Vision for Digital Citizenship

Our goal is to create a world of educated and responsible digital citizens who are connected financially and information-wise. This approach moves away from consumer pampering, encouraging responsible consumption, and reducing costs passed on to all consumers in product and service prices.

Vigilance with Online Payments

It’s crucial to be as cautious with online payments as with physical cash. Unwary users who give away credentials or mobile TANs often face the consequences of their mistakes. Remember, any costs from such mistakes, like chargebacks, are ultimately borne by all of us in our consumer prices.

Centi Ltd is a fully regulated money service provider affiliated with the self-regulatory organization VQF, which is recognized by the Swiss Financial Market Authority (FINMA). This regulatory status allows Centi Ltd to operate internationally while adhering to the specific rules and restrictions of each jurisdiction where it conducts business. This ensures that Centi meets the highest standards of financial compliance and security.

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