TERMS & SERVICES
Last Updated: April 05, 2016
The ftcash Terms of Service ("Terms") are a legally binding agreement between you, and Nomisma Mobile Solutions Pvt. Ltd using the trademark ftcash ("ftcash") and apply to your use of an ftcash account ("Account") and any ftcash products and services that you access using an Account (the "ftcash Services"). ftcash offers a payment software platform that allows users to pay money using an internet connection. All funds transfers are performed by the Financial Institution Partner based on instructions issued through the ftcash software platform.
It is important that you read and understand these Terms as they govern your use of the ftcash Services. These Terms contain a binding arbitration provision which affects your legal rights and may be enforced by the parties. By accessing or using the ftcash Services, you accept and agree to be bound by these Terms. If you do not agree to these Terms, you must immediately stop using the ftcash Services.
We may amend these Terms at any time by posting a revised version on ftcash.com or any other website we maintain for purposes of providing the ftcash Services. Amended Terms are effective at the time we post them and your continued use of the ftcash Services constitutes your acceptance of any amended Terms. We may provide you with notice regarding upcoming Terms changes by email. Capitalized terms used in these Terms have the meaning assigned to them in Definitions section.
ftcash provides a software platform. The ftcash software platform gives you the ability to make electronic payments to other ftcash users primarily merchants who are also using ftcash. ftcash provides the software platform that allows you to send payment instructions to the Financial Institution Partner (which may be a credit card or debit processor).
ftcash offers Personal, Business, Government, and Non-profit accounts (each an "Account"). If you open a Business, Government, or Non-profit Account, you agree that you are not opening the Account primarily for personal, family, or household purposes.
Accuracy of information
When you register for an Account, you may be required to provide information that will allow us to verify your identity, including but not limited to: a valid physical address (not including P.O. Boxes or commercial mail receiving agencies), phone number, bank account information, a copy of your photo identification, proof of business document and your PAN card number. You agree to provide true and accurate information to ftcash when you create your Account. You also agree to update this information to keep it true and accurate at all times.
You may be required to provide additional information or documentation to allow ftcash to verify your identity and/or your account information. ftcash may also verify your information against third party databases or other sources and you authorize ftcash to make such inquiries.
You are responsible for keeping your Account login information, password, and PIN secure. If you share your Account credentials with another person, you are responsible for all activity they conduct using your Account, regardless of whether or not you authorized their activity. ftcash will never ask you for your Account credentials.
Authorization to debit your linked bank or credit union account
If you link a bank account or a credit / debit card to your Account, you are authorizing ftcash and the Financial Institution Partner to initiate an electronic transfer from your linked bank / debit card / credit card account in the amount you specify. You are solely responsible for complying with any terms set by your bank or credit card provider with respect to your account, including any fee terms, such as non-sufficient fund or overdraft fee terms. If you are entitled to a Reversal, refund, or other adjustment associated with a payment you made using the ftcash Services, you also authorize ftcash and the Financial Institution Partner to credit your linked account to complete that transaction.
No endorsement of products
ftcash does not provide any endorsements or guarantees for any individual or entity using the ftcash system, nor any third party offers, goods or services featured on ftcash websites. Information regarding third party offers, goods, and services is provided on ftcash websites for informational purposes only, and may not be true, accurate, or reliable.
Consent to receive electronic Communications
By opening an Account and using the ftcash Services, you consent to receive all Communications from ftcash electronically and you confirm that you can access, receive and retain such Communications. "Communications" means all communications, terms, disclosures, notices, and statements that ftcash provides to you in connection with your Account and your use of the ftcash Services. ftcash provides communications to you by posting them on ftcash.com or by emailing them to you at the email address associated with your Account.
Notices to You
A Communication will be considered to be received by you within 24 hours after the time we post it to our website or email it to you.
Hardware and software requirements
- A computer, laptop, smartphone, or other device, that is Internet-enabled;
- A valid email account associated with your Account;
- A web browser which includes 128-bit encryption, such as current versions of Chrome, Internet Explorer, Firefox or Safari, with cookies enabled; and
- Data storage to save Communications electronically or an installed printer to print them.
Keeping your contact information updated
You must keep your email address updated in order to receive Communications from ftcash electronically. To update the email address associated with your Account, log into your Account in the mobile application and access the settings menu.
Requesting Paper Copies
You may request a paper copy of a Communication that we provided to you electronically by contacting us as set out in Section 15 below. We will send it to the mailing address on file for your Account. ftcash may charge you a fee of Rs. 100 for each paper copy of a Communication sent to you.
You may withdraw your consent to receive Communications electronically by contacting us as set out in Section 15 below. If you withdraw your consent, ftcash may prohibit you from using the ftcash Services and may close your Account.
How to contact us regarding electronic Communications
If you have any questions regarding our policy on electronic Communications, please email us at email@example.com or call us at +91 983-349-6939
ftcash Fee. For each ftcash payment you make or receive, ftcash may charge a fee ("ftcash Fee") as specified. By default, the recipient, such as a merchant, is charged the ftcash Fee, and payer will not be charged the ftcash Fee. Some recipients may require you to pay the ftcash Fee, in which case, you will be charged the ftcash Fee and it will be listed in your payment total. For some payments, you may be given the option to choose to pay to the ftcash Fee by selecting that option in the payment flow.
Transaction fees charged would be borne by cardholder for any payment.
Transaction fee charges would not be refunded/ reversed under any circumstances for any refund/ reversal /chargeback and any other reasons.
The recipient, such as a seller, or a third party facilitating your payment transaction ("Facilitator") may charge you additional service fees ("Facilitator Fee") based on their terms and conditions. We recommend that you review Facilitator Fee terms before completing your payment.
If a payment that you received is subject to a Reversal as set out in Section 22 (Transaction reversal), you may be charged a fee of Rs 500.00 ("Reversal Fee").
Account limits. You are limited on the amount of money that can be sent from your Account per transaction. The per transaction limit is currently Rs. 25,000. We reserve the right to decrease your transaction limit at any time, for any reason.
You may apply for an increased sending limit here. Approval is solely in ftcashs discretion and may be reassessed and/or revoked at any time.
Funding source limitations
Recipient Limitation. A recipient, such as a seller, may choose not to accept all forms of ftcash funding sources. This means you may not be able to choose from the full range of funding sources you have available in your Account to complete your payment to that recipient.
Reversals or Chargebacks. Any payment that you receive may be reversed if: (a) the sender requests a reversal of the payment if the terms of the service are not met, (b) the senders bank requests a reversal of the payment, or (c) ftcash decides a Dispute against you (each a "Reversal"). You are liable to ftcash for the full amount of any payment that you receive that is subject to a Reversal, and the Reversal Fee, if applied. You will not receive a refund of any ftcash Fee that you may have paid.
Authorization to recover amounts due
You authorize ftcash to recover any Reversal amounts due to the Financial Institution Partner by debiting your available ftcash Balance. If you have an insufficient ftcash Balance, you authorize ftcash and the Financial Institution Partner to take any of the following actions to recover the remaining amounts from you:
- Debit the bank or credit union account(s) linked to your Account;
- Suspend your Account and require your immediate payment; or
- Engage in collection efforts.
The customer should contact the merchant directly in order to receive a refund. Once the merchant agrees to process the refund, they can intimate ftcash to process the refund to the customer. ftcash will process the refund in the next 3 working days and it may take upto 7 business days for the refund to show on the customers account.
Fees once paid which are nonrefundable for any reason or any clause of Nomisma mobile Solutions Pvt ltd.
You agree that in connection with your use of the ftcash Services and your interactions with ftcash you will not:
- Breach these Terms or any other ftcash terms or policies that you have accepted;
- Provide false or inaccurate information to ftcash, including identity information;
- Engage or attempt to engage in illegal or fraudulent activities;
The following kinds of service providers or merchants are excluded and will not be allowed to sign up for ftcash Merchant Services-
- Firearms, Alcoholic beverages, Explosives, Pornography materials and services of any kind whatsoever, Live animals, Banned / illegal drugs or other controlled substances, Fireworks or pyrotechnic devices or supplies, Hazardous materials, combustibles, on line gambling including Rummy, corrosives, Website access and / or website memberships of pornography or illegal sites.
- Bulk email software, Gambling transactions, Multilevel marketing collection fees, Matrix sites or sites using a matrix scheme approach, Mailing lists
- Drop-shipped merchandise, Internet pharmacies, software downloads , wall-papers / screen-savers downloads, downloads from web-site/system which cannot be authenticated by way of proof of delivery, any product or service which is not in compliance with all applicable laws and regulations whether federal, state, local or international including laws of India.
- Jewelers excluding sale of artificial and imitation jewelry, Antique item dealers, Art Gallery, Builder/ Construction companies/Building material suppliers, Local Cable operators, Chit funds/ Nidhi companies/ Credit societies/money lenders/financiers/small NBFCs, Handicraft dealers, Customs notified shops, Journalists /advocates / computer consultants Commission agents, Lottery agencies, Money changers, Motor training school, Medical stores, Real estate agencies/ agents / brokers, Plantation/ Time resort/Marriage Bureaus, Card brokers,Job Placement Services and Companies,Loyalty programs who are selling fixed holidays packages and Merchants who provide tech support.
- Engage in activity that indicates, in ftcash and the Financial Institution Partners discretion, that there may be a high level of risk associated with you, your Account, or any of your Account activity.
ftcash Product-Specific Terms
ftcash offers a referral program which allows you to earn ftcash Referral credits for new
customer referrals ("Referral Program"). Referral credits are not transferable and may not be auctioned, traded, bartered,
sold, or redeemed for any value other than provided in these Terms.
Referral credits can only be used to pay for items through ftcash. Upon termination of the Referral Program or any portion thereof for any reason, or Referral credits can expire or be terminated at any time at ftcashs sole discretion.
Disputes with other ftcash users
Dispute resolution. You understand and agree that ftcash is not responsible for the goods or services that you pay for using the ftcash Services. Each seller that you purchase from is responsible for providing the goods and services that you purchase and for providing all customer service related to those goods and services. We recommend that you review a sellers policies before completing your purchase. You are responsible for resolving any disputes that you may have with a seller. If you have exhausted all options for resolving a dispute with a seller, you may choose to file a dispute claim with ftcash ("Dispute") by following the steps in Section 4 below.
Release of ftcash
By filing a Dispute, you understand and agree that:
- You are asking ftcash to assist in resolving the dispute in its sole discretion and that such assistance or ftcashs decision may not be satisfactory to you;
- ftcashs assistance in resolving the dispute does not guarantee any particular outcome nor any action on ftcashs part; and
- You release ftcash, our officers, directors, agents, employees, and suppliers from all claims, demands and damages of any kind arising out of your dispute with a seller and ftcashs review of your Dispute.
How to file a Dispute
To file a Dispute, follow these steps:
- Within 45 days of the original transaction, email firstname.lastname@example.org with the following information:
- The mobile numbers, email addresses and names of both parties, if available,
- The transaction ID number,
- The amount of the transaction, and
- The details of your disagreement with the recipient, including any steps already taken to resolve the issue and copies of supporting documentation (such as email correspondence, receipts, etc.).
- Provide any additional information or documentation that we may request. Once ftcash has decided the outcome of the Dispute, the parties will be notified of the decision. You are required to comply with the decision and complete any actions required by such decision.
Your liability and actions we may take
Your liability. You are responsible for all Reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by ftcash, the Financial Institution Partner, other ftcash users, or third parties arising from your breach of these Terms or your use of the ftcash Services. You agree to reimburse ftcash, the Financial Institution Partner, other ftcash users, or third parties for any and all such liability.
Actions we may take
If we determine, in our sole discretion, that you may have breached these Terms, that you or your Account activity present risk or security concerns, or if we are unable to verify your identity, we may take actions to protect ftcash and our users, the Financial Institution Partner, or other third parties from Reversals, claims, fines, penalties and any other liability. These actions may include, but are not limited to, the following:
- Suspending your access to your Account and/or the ftcash Services;
- Suspending your access to your funds held in the Holding Account for up to 90 days
- Taking action as set out in Section 6 (Transaction reversal) to recover amounts that you owe;
- Closing your Account;
- Contacting ftcash users or third parties who have purchased goods or services from you, contacting your bank, and/or warning other ftcash users, law enforcement, or other impacted third parties of your actions;
- Refusing to provide the ftcash Services to you in the future; and
- Taking legal action against you.
Notice of limit or suspension
We will provide you with notice if we take any of the above actions against your Account. If we limit or suspend your Account, we will provide you with notice of our action.
Unauthorized transactions and Error resolution
Notify ftcash of Account Errors. Contact ftcash immediately at email@example.com if you think that: (a) your Account has been accessed without your authorization, (b) a transaction that you did not authorize has occurred, (c) a transaction has been processed incorrectly to or from your Account, or (d) your Account statement contains an error regarding your transaction history (each, an "Error"). If you give someone access to your Account and they conduct transactions without your authorization, these transactions are not considered Errors, unless you are the victim of a phishing attack or similar exploit. We must hear from you within 30 days after we provided the Account statement on which the suspected Error first appeared.
How to notify ftcash
When you notify us of the suspected Error, please provide:
- Your name and Email Address,
- The nature of the suspected Error and why you believe it is an Error, and
- The transaction amount of the suspected Error.
Investigation by ftcash
We will determine whether an Error occurred within 10 business days after you notify us and will correct any Error promptly. If we need more time, we may take up to 45 days to investigate. If we decide to do this, we will credit your Account within 10 business days for the amount of the suspected Error. If we ask you to send your inquiry by email and we do not receive it within 10 business days, we may not credit your Account. For Errors involving new Accounts, we may take up to 90 days to investigate and may take up to 20 business days to credit your Account.
ftcash will tell you the results within 3 business days after completing our investigation. If we decide that there was no Error, we will provide you a written explanation. You may ask for copies of the documents that we used in our investigation.
ftcash will tell you the results within 3 business days after completing our investigation. If we decide that there was no Error, we will provide you a written explanation. You may ask for copies of the documents that we used in our investigation.
- By You- You may stop using the ftcash Services at any time. You may also close your Account at any time, as long as you have no pending transactions or open Disputes, by contacting us at firstname.lastname@example.org.
- By Us. We may close your Account or terminate your access to the ftcash Services without liability, for any reason, upon notice to you. Reasons for termination may include, but are not limited to, your violation of these Terms or any other applicable ftcash or the Financial Institution Partner terms or policies, Account inactivity, or ftcashs assessment that you pose an unacceptable risk to the ftcash network, based on our confidential risk and security criteria. ftcash also reserves the right to modify or terminate the ftcash Services at any time, for any reason.
Disputes with ftcash
Binding arbitration-You and we (the "Parties") agree that upon the election of either of the Parties, any past, present, or future dispute relating in any way to your Account, or any other past, present, or future relationship or transaction between the Parties, will be resolved by binding arbitration as discussed below, and not through litigation in any court. Such disputes are called "Claims" for purposes of this agreement. This binding agreement to arbitrate applies regardless of whether the dispute is between you and us jointly or separately. Unless the Parties agree otherwise, or unless the arbitration administrators rules or law require otherwise, the arbitration shall be held in Mumbai, Maharashtra, India.
The arbitrator will decide the Claim in accordance with all applicable law, including recognized principles of equity and statutes of limitations, and will honor all privileges recognized by law. The arbitrator will have the authority to award to a Party any damages or relief provided for under applicable law. The arbitrators decision shall be final and legally binding, and may be enforced by any court having jurisdiction.
No class actions or similar process, and no joinder or consolidation of any Claim with a Claim of any other person or entity, shall be allowable in arbitration, without the written consent of both Parties. The arbitrator shall have no authority to entertain any Claim on behalf of a class, group, person, or entity who is not a named party to the arbitration, nor shall any arbitrator have authority to make any award for the benefit of, or against, any class, group, person, or entity who is not a named party to the arbitration. In the event that there is a dispute about whether limiting arbitration to non-class proceedings, or to the named parties, is enforceable under applicable law, then that question shall be resolved by a court rather than by an arbitrator; and to the extent it is determined that resolution of a Claim must proceed on a class basis, it shall so proceed in a court of competent jurisdiction rather than in arbitration.
If the arbitrator or arbitration administrator would impose filing fees or other administrative costs on you, we will reimburse you, upon request, to the extent such fees or costs would exceed those that you would otherwise have to pay if you were proceeding instead in a court. We will also pay additional fees or costs if required to do so by the arbitration administrators rules or applicable law. Apart from the foregoing, each Party will be responsible for any other fees or costs, such as attorney fees that the Party may incur.
Arbitration with respect to a Claim is binding and neither Party will have the right to litigate that Claim through a court. In arbitration the Parties will not have the same rights that apply in court, such as the right to a trial by judge or jury and the right to participate or be represented in proceedings brought by others such as class actions or similar proceedings. In addition, the right to discovery and the right to appeal may also be limited or eliminated in arbitration. All of these judicial rights are waived with respect to Claims that the Parties elect to arbitrate.
- Indemnification-You agree to defend, indemnify and hold harmless ftcash, the Financial Institution Partner, their respective officers, directors, agents, employees, and suppliers from any third party claims, actions, proceedings, and suits and related liabilities, damages, settlements, penalties, fines, costs or expenses (including reasonable attorneys fees and other litigation expenses) arising from: (a) your violation of these Terms or any other applicable ftcash or Financial Institution Partner terms or policies; (b) your use of the ftcash Services; or (c) your actual or alleged violation of any third party rights, or any applicable laws, regulations or rules.
- Limitation of liability-IN NO EVENT SHALL ftcash, THE FINANCIAL INSTITUTION PARTNER, OR THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES OR SUPPLIERS BE LIABLE TO YOU OR ANY THIRD PARTY UNDER ANY CIRCUMSTANCES FOR ANY INDIRECT, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY, DAMAGES OR LOSSES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES INCURRED IN CONNECTION WITH: (i) THESE TERMS, (ii) YOUR USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE ftcash SERVICES, OR, (iii) ANY GOODS OR SERVICES PURCHASED, RECEIVED, OR PAID FOR USING THE ftcash SERVICES, UNDER ANY THEORY OF LIABILITY OR CAUSE OF ACTION WHETHER IN TORT (INCLUDING NEGLIGENCE), CONTRACT OR OTHERWISE, REGARDLESS OF WHETHER ftcash OR THE FINANCIAL INSTITUTION PARTNER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL ftcash OR THE FINANCIAL INSTITUTION PARTNERS LIABILITY AND THE LIABILITY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES AND SUPPLIERS EXCEED THE FEES ftcash HAS RECEIVED FROM YOU THROUGH YOUR USE OF THE ftcash SERVICES. ftcash AND THE FINANCIAL INSTITUTION PARTNER SHALL NOT BE JOINTLY LIABLE FOR ANY MATTERS HEREUNDER. THIS LIMITATION OF LIABILITY SECTION SHALL APPLY TO FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
- No warranty-THE ftcash SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE", WITHOUT ANY REPRESENTATION OF WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. USE OF THE ftcash SERVICES IS AT YOUR OWN RISK. ftcash, THE FINANCIAL INSTITUTION PARTNER, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES AND SUPPLIERS, SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. NEITHER ftcash NOR THE FINANCIAL INSTITUTION PARNTER HAS CONTROL OF, OR LIABILITY FOR, ANY PRODUCTS OR SERVICES THAT ARE PAID FOR USING THE ftcash SERVICES AND CANNOT ENSURE THAT ANY THIRD PARTY YOU TRANSACT WITH WILL COMPLETE THE TRANSACTION. NEITHER ftcash NOR THE FINANCIAL INSTITUTION PARTNER REPRESENTS OR WARRANTS THAT THE ftcash SERVICES WILL MEET YOUR REQUIREMENTS, BE CONTINUOUS, UNINTERRUPTED, SECURE, TIMELY, OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM ftcash OR THROUGH THE ftcash SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED HEREIN. NEITHER ftcash NOR THE FINANCIAL INSTITUTION PARTNER SHALL BE RESPONSIBLE FOR ANY SERVICE INTERRUPTIONS OR SYSTEM FAILURES THAT MAY AFFECT THE PROCESSING, COMPLETION OR SETTLEMENT OF ftcash SERVICES TRANSACTIONS. THIS DISCLAIMER OF WARRANTY SECTION SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
- Force majeure-You understand and agree we will not be held responsible for any losses or damages resulting from suspension of service due to extraordinary events or circumstances beyond our control. In such an event, ftcash may suspend the ftcash Services and access to your Account and the Financial Institution Partner may suspend service
- Assignment-You may not transfer or assign any rights or obligations you have under these Terms. ftcash and the Financial Institution Partner reserve the right to transfer or assign any rights or obligations under these Terms at any time.
- Applicable law-You agree that the laws of India, without regard to principles of conflict of laws, govern these Terms and any claim or dispute that has arisen or may arise between you and ftcash.
Complete agreement, no waiver, and survival
ftcash will tell you the results within 3 business days after completing our investigation. If we decide that there was no Error, we will provide you a written explanation. You may ask for copies of the documents that we used in our investigation.These Terms, along with any applicable ftcash terms and policies that you have agreed to set forth the entire understanding between you and ftcash with respect to the ftcash Services. Any failure of ftcash or to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. Any provision of these Terms held to be invalid or unenforceable under applicable law shall be struck, and the remaining provisions will continue in full force and effect. Sections: Using ftcash, Consent to receive electronic Communications, Transaction reversal, Disputes with other ftcash users, Your liability and actions ftcash and the Financial Institution Partner may take, Disputes with ftcash, and General terms, as well as any other terms which by their nature should survive, will survive the termination of these Terms.
"Account" means a ftcash Personal Account, Business Account, Government Account, or Non-profit Account.
"Business Account" means an Account established primarily for business purposes and not primarily for personal, family, or household purposes.
"Communications" means the communications described in Section Communications.
"Dispute" means a dispute claim filed with ftcash as described in Section "Dispute resolution".
"ftcash" means ftcash and its successors, affiliates, or assigns.
"ftcash Services" means all products and services, including Accounts, offered by ftcash through our websites, applications, or through any other means.
"Facilitator" means a third party or third party software that facilitates your payment as described in Section "Facilitator Fee".
"Facilitator Fee" means the fee charged by a Facilitator.
"Financial Institution Partner" means the partner bank that is handling the credit / debit card processing, etc.
"Government Account" means an Account established by a government entity primarily for government purposes and not for personal, family, or household purposes.
"Non-profit Account" means an Account established primarily for non-profit purposes and not for personal, family, or household purposes.
"Referral Program" means the program described in Section "Referral Program".
"Reversal Fee" means the fee that may be charged for any Reversal associated with your Account.
"Reversal" means ftcashs reversal of a payment you received because: (a) the sender requests a reversal of the payment, (b) the senders bank or credit union requests a reversal of the payment, or (c) ftcash decides a Dispute against you.
"Terms" means these ftcash Terms of Service, as may be amended from time to time.
"Us", "we" or "our" refers to ftcash and the Financial Institution Partner.
"Virtual Currency" means a medium of exchange that operates like a currency in some environments, does not have all the attributes of real currency, and is subject to regulatory guidance. Virtual Currency includes cryptocurrencies, including, but not limited to Bitcoin, Litecoin, Namecoin, and Peercoin.
"You" or "your" means any person or entity using the ftcash Services.
Financial institutions play an important role in the ftcash network.