Thank you for choosing to pay with SILVRR.

The following terms and conditions (the “Terms and Conditions”) apply to Cotsworlds Ecommerce Limited (“SILVRR”, “we” or “us”) and you, who has made a purchase via SILVRR’s platform with the merchant (the “Merchant”). When using “you” in this document, we mean anyone who has bought something using the payment in 3 installments provided by SILVRR. If you choose this payment method (the “Buy Now, Pay Later Service”), you agree to the following Terms and Conditions.

The following Terms and Conditions will be available at all times on a durable medium in SILVRR’s website, and prior to contracting the Buy Now, Pay Later Service.

This agreement sets out the Terms and Conditions applicable to the Buy Now, Pay Later Service. By signing it, you will be accepting these Terms and Conditions, which have not been individually negotiated, in accordance with Law 7/1998, on General Contracting Conditions.


With the Buy Now, Pay Later Service, you can pay for something you buy by dividing the price into three (3) equal installments.

The Buy Now, Pay Later Service is therefore linked to a previous purchase agreement entered into between you and the Merchant through SILVRR’s platform.

At checkout in SILVRR’s website or app, you’ll see an option to ‘Pay Later in 3 interest-free installments’. When you choose this option, you will be asked to enter your personal information and card details to complete your purchase. SILVRR will make AML and KYC check by the information provided by you. If you have passed our AML and KYC check, you will be granted a credit limit (the “Credit Limit”) for your BNPL services. You could use such Credit Limit for the purchase on SILVRR. Once the purchase has been successfully completed, the purchased amount will be reduced from your Credit Limit. You may choose pay in 30 days or pay in 3 months (the bill shall be paid by each month). You could pay the bill with your credit card or any other payment method accepted by SILVRR from time to time.

You can use as payment method your own debit or credit card (prepaid cards are not supported) or any other payment method made available by SILVRR from time to time on its website or app and make sure it is active and linked to an account where enough funds are available to cover all the instalments. By choosing to save your card details or other personal payment information with SILVRR, you authorize SILVRR to charge this funding source for any subsequent usages of SILVRR when making purchases with us. You will not be charged until you make a purchase.

You must be over 18 years of age, resident in Spain, and capable of entering into a legally binding contract.

The first payment is charged when the merchant confirms the purchase (usually when the product is shipped) and the next two payments are charged automatically 30 and 60 days after the initial payment. This means that the second payment will be charged 30 days after the first installment and the last one will be charged 60 days after the first payment. We will indicate the dates digitally.

The installments are processed by a third party payment service provider who will execute the charges in your payment card on SILVRR’s behalf. 

The Buy Now, Pay Later Service is free of interests. 

With the Buy Now, Pay Later Service, we will not charge you any costs as long as you follow the automatic payment schedule. However, if you are late in completing any of the payments, we may charge you with a default penalty. Any non-completed, including any added penalties, will be charged together with the next payment on the next installment.

If you cancel your purchase or return the purchased products, we will automatically cancel the outstanding installments (as soon as the Merchant confirms the termination) and we will proceed to order a refund directly to your payment method account or card.

SILVRR’s service is limited to the credit free of charge granted for your purchase. The terms of your purchase, such as the quality of the product or the service or the term for the shipping, are governed by your agreement with the Merchant.

Please take into account that the payment services provider issuing the payment card registered for the installments may charge you interest or penalties for the purchase using the payment card, in accordance with your agreement with your payment services provider. If you have any questions about these charges, please contact your payment services provider.

By subscribing the Buy Now, Pay Later Service, you grant us permission to charge the remaining two payments directly from your card or the selected payment method on the agreed dates without the need to require your previous consent to it. If the Merchant does not charge you for your entire purchase at once, we may create several Buy Now, Pay Later Services for each part of the purchase. Each of these services will have their own charge dates depending on when the Merchant confirms each part of the purchase. This situation may be common in stores that do not ship all of the purchased products or services at the same time.



3.1 Interests and expenses 

The Buy Now, Pay Later Service is free of interest, and you will only have to pay the relevant limited expenses. 

In this regard, please find below different examples on the total amount to be repaid to SILVRR:

  1. Items or services purchased for an amount less than or equal to EUR 50: NIR: 0%. APR: 0%, calculated on a drawn amount of EUR 50. Total amount owed EUR 0 to be repaid in 3 monthly instalments of EUR 0. 
  2. Items or services purchased for an amount between EUR 51 and less or equal to EUR 200: NIR: 0%, APR: 0%, calculated on a drawn amount of 200 EUR. Total amount owed EUR 0 to be repaid in 3 monthly instalments of EUR 0.
  3. Items or services purchased for an amount between EUR 201 and less than EUR 1,000: NIR: 0%, APR: 0%, calculated on a drawn amount of 200 EUR. Total amount owed EUR 0 to be repaid in 3 monthly instalments of EUR 0.

The APR is 0. The APR may vary according to the amount and term of the financing.

The NIR is 0.

Please take into account that there may be some other charges invoiced by your card-issuing payment services provider.

3.2 Accepted cards and stored cards 

The payment card registered to face the installments must be valid, meaning that you must be listed as the cardholder by the payment services provider issuing the payment card and the payment card cannot be expired. SILVRR reserves the right to refuse the payment card registered in compliance with types supported by SILVRR’s systems from time to time. SILVRR may limit the different types of payment cards accepted for payment. If a payment card is not supported, SILVRR shall let you know before the purchase is completed. Accepted payment methods will be disclosed by SILVRR at the moment of the payment. SILVRR does not accept prepaid cards. 

By subscribing the Buy Now, Pay Later Service you authorize the third party payment service provider to store your card details on its systems. This information will be used to authorize future payments under our Terms and Conditions. Unless you choose not to authorize it, this information may be used to complete your payment card details for future purchases and in any case you will be able to manage your card details online. In case the third party payment service provider obtains any updated payment card information from you or your payment services provider, you agree that the third party payment service provider may store it in its systems.

3.3 Payment of installments

The payment method of the installments will be the one you have selected from those available on SILVRR’s website or app from time to time. Each payment method shall be conditional upon and operate in accordance with its particular terms of use.

3.4 Payment Failure

When a direct debit payment for your certain installment fails, we, with the help of the third party payment service provider, will try and collect the payment again in accordance with the following rules:

(i) when the direct debit payment for your certain installment fails, we will try and collect 70% of such installment; and

(ii) when the direct debit payment for 70% of such installment fails, we will try and collect 40% of such installment.

3.5 Late Payment 

If on the day the installment is due we are unable to collect 40% of such installment, we will send you a notification and give you a courtesy period of three (3) days to update your payment method or to ensure that you have funds available to be disposed of with the payment card registered with us. A new charge will be instructed once you update your payment method so the outstanding amounts are paid. If we cannot charge your new payment method, we will attempt to charge the previous payment method again at the end of the three (3) day period. It is important that you make sure you have sufficient funds available to complete your payment on the due date. If we fail to collect the late installment a second time, during the grace period, we will add the unpaid total amount to the final installment, including a late payment penalty.

If by the end of the courtesy period we have not been able to charge your selected payment method, a default will be deemed to have occurred and, in addition to other actions we may be entitled to exercise, we may charge you a late payment penalty in the following amounts; 

  1. EUR 4 per installment if the total value of the purchase is less than or equal to EUR 50;
  2. EUR 7 per installment if the total value of the purchase is between EUR 50 and less or equal to EUR 200;
  3. EUR 12 per installment if the total value of the purchase is between EUR 201 and less than EUR 1,000, or the maximum amount permitted by applicable law, whichever is lower. 

If a default occurs for a period longer than 90 days, please note that you may not be able to use the Buy Now, Pay Later Service again in the future. 

We may continue to attempt the recovery on subsequent due dates. If it is not possible to collect the remaining amount in the third installment, we may invoice you for the remaining amount to be paid immediately or we may follow our debt collection procedures in which case you will have to pay all reasonable costs incurred by SILVRR and/or the collection agency.

3.6 Access to credit reports, identity checks and reports 

Depending on the characteristics of the credit, SILVRR may need to verify your identity. Identity verification is performed so SILVRR can comply with its anti-money laundering and counter terrorist financing legal requirements as well as to prevent fraud. You will need to provide the necessary information requested to SILVRR to verify your identity. Please be informed that we may also check the information provided against third party databases.

SILVRR shall not enter into an agreement with you if the information requested to comply with the obligations set forth in the paragraph above are not provided or in the event that SILVRR finds out that the information or part of the information shared by you is false or cannot be updated. 

We may conduct an inquiry at a credit bureau. This inquiry may affect your credit score and your chances of obtaining credit in the future. If, as a result of our inquiry, you are unable to access this payment method, we will notify you. We may also validate your payment card and request authorization from your payment services provider. In this case there will be no changes to your credit rate for these payments. Late, missed or other unpaid payments on your purchase may be sent to the credit bureau and reflected on your credit file, which may affect your credit score. 

3.7 Assignment or transfer of the credit agreement

This credit agreement is formalized by SILVRR taking into account your personal characteristics and solvency rate, and therefore cannot be assigned or transferred to a different debtor without SILVRR’s prior written consent.

In this regard, you may not transfer or assign any rights or obligations you have under these Terms and Conditions. To the extent no longer permitted by applicable law, we may transfer or assign these terms or any rights or obligations under these terms at any time, provided that such transfer does not alter your rights and obligations under these terms to your detriment.

3.8 Early repayment and refunds 

You can repay the total amount of the credit at any time and no expenses will be charged for this early repayment. Any partial refund will reduce the total balance of your credit, but will not be considered a full payment. You will be required to continue to pay the outstanding installments according to the payment schedule established at the time of purchase on the established dates until the total purchase is fully paid. If you have made partial early repayments, the outstanding installment will be proportionally reduced accordingly. 

If you withdraw from your purchase with the Merchant or return the purchased products or services, this agreement will automatically be terminated and the outstanding installments canceled (as soon as the Merchant confirms this aspect to us); and we will proceed to refund the amounts you have already paid.

3.9 Withdrawal rights

In accordance with the provisions set forth under Law 22/2007, of 11 July, on Distance Marketing of Financial Services for Consumers, you may withdraw from this agreement without giving any reason and without penalty, within a maximum period of fourteen (14) calendar days from the date of this agreement, by notifying SILVRR at its registered office or at the e-mail address service.es@silvrr.com before the end of the period indicated above, by any procedure permitted by law that allows the notification to be recorded. 

The notification shall be deemed to have been made within the deadline if it is made on a durable medium and sent before the expiry of the deadline for notification.

The period for exercising the right of withdrawal shall start to run from the day of this agreement. However, if you have not received the contractual terms and conditions and the corresponding contractual information, the period for exercising the right of withdrawal shall start to run on the day on which you receive said information.

Exercising your right of withdrawal means that you will have to pay the amount of the credit service actually provided by SILVRR up to the time of withdrawal as soon as possible and, in any event, within a maximum period of thirty (30) calendar days from the date of communication of the withdrawal. Once the withdrawal notification has been received, SILVRR will make it effective.

SILVRR may not demand any payment from you if (i) it does not prove that you have provided the existence of the right of withdrawal, with the conditions for its exercise or (ii) if it initiates the execution of the agreement without having been requested by you before the end of the withdrawal period.

SILVRR shall reimburse you, as soon as possible and in any case within a maximum period of thirty (30) calendar days, any amount it has received from you under the agreement, except for the amount to be paid by you to SILVRR.

3.10 Default 

A default will exist if: (a) no payment is made by the due date after the applicable courtesy period; (b) you are involved in insolvency or bankruptcy proceedings; (c) you provide us with false, misleading or incorrect information; or (d) you fail or are unwilling to comply with any of the conditions contained in these Terms and Conditions.

If a default is deemed to exist SILVRR may: (a) charge the outstanding balance, including late fees, using any registered payment method or by separate invoice; (b) use a debt collection agency to claim the payment, in which case all reasonable costs (including attorneys’ fees) incurred by SILVRR and/or the debt collection agency will be charged to you; and (c) report default information to credit reporting agencies.

3.11 Other Rights and Obligations 

You must always provide correct information and use your own identity. Any use of information that does not belong to you or that for other reasons you are not authorized to use, or use of the Service in a manner not prescribed, will be considered misuse. Any data relating to misuse or suspected misuse may be stored and used for future risk assessment and for the protection of the parties involved. SILVRR reserves the right to block the use of the Buy Now, Pay Later Service.

We may assign or convey to any individual or legal entity any of our rights, remedies, powers, duties, obligations or interests under this agreement and you agree that we may assign this agreement to such individual or legal entity.

3.12 Use of personal data

For more information regarding the use of personal data please refer to our Privacy Policy.

3.13 Complaints and claims

If you have a complaint regarding the Buy Now, Pay Later Service provided by SILVRR, you can submit your complaint by contacting SILVRR’s Customer Service Department by email at service.es@silvrr.com, including: surname, first name, ID number, signature, customer’s address and the reason for the complaint.

We will try to resolve your complaint as soon as possible and no later than two (2) months from submission, one (1) month in case you qualify as a consumer, in accordance with applicable regulations. If SILVRR does not issue a response to your complaint, you may submit your complaint to the Entities Conduct Department (Departamento de Conducta de Entidades) of the Bank of Spain. Please take into account that in order to apply for the Bank of Spain complaint services, applicable regulations require that you justify having previously contacted SILVRR’s Customer Service Department.

You also have the possibility to access the online resolution of disputes with the Entity in accordance with the provisions of Regulation (EU) No. 524/2013 of the European Parliament and of the Council of 21 May 2013 on online dispute resolution in consumer matters, through the following link: http://ec.europa.eu/odr.

SILVRR is not a member of a consumer arbitration board for the resolution of disputes related to this agreement, and does not offer the possibility of accessing other extrajudicial procedures.

3.14 Applicable law and jurisdiction

To the extent required by applicable law, our contractual relationship arising from this payment method shall be governed by Spanish law. Any dispute arising out of or related to this payment method shall be subject to the courts of your domicile.



All our communications with you, as well as the documentation related to our commercial relationship, will be in Spanish or in Spanish and English. In case of discrepancies between both languages, the version in Spanish shall prevail. 



By accepting these terms, you agree that SILVRR will use electronic communications when communicating with you. Payment information, terms, disclosures required by law, and other information that may be provided to you may be provided to you electronically, including through the SILVRR website, the SILVRR App or the email addresses you provided to us.

All communications and/or notifications resulting from the above shall be made in any of the official languages of the Kingdom of Spain agreed by the parties.

Updating your contact information 

It is your responsibility to ensure that SILVRR has your current email address and cell phone number so that we can communicate with you electronically. If you need to update your primary email address, please contact our Customer Service Department to make the change.


If you have any questions regarding the use of electronic communications with SILVRR, please contact SILVRR’s Customer Service Department.



Cotsworlds Ecommerce Limited is incorporated under Belgian law and is registered with the Belgian Commercial Registry under number 0771.804.155.