Document:

EXHIBIT
4.22

 

NEITHER
THIS NOTE NOR THE OFFER NOR SALE OF THE SECURITIES REPRESENTED BY THIS NOTE HAS BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, (THE “SECURITIES ACT”). THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT, OR AN OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE CUSTOMARY
FOR OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS, THAT REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OR UNLESS SOLD
PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.

 

QPAGOS

 

12% CONVERTIBLE PROMISSORY NOTE

DUE: DECEMBER 26, 2017

 

	$54,109.59	June 29,
    2017 (the “Issuance Date”)

 

FOR VALUE RECEIVED,
the undersigned, QPAGOS (the “Company”), a Nevada corporation, promises to pay to the order DELINVEST COMMERCIAL LTD,
with an address located at Drake Chambers, P.O. Box 3321, Roadtown, Tortola, BVI or its registered assigns (the “Holder”
or “Holders”), the principal sum of Fifty Four Thousand One Hundred and Nine Dollars and Fifty-Nine Cents (US$54,109.59)
or such lesser amount as shall equal the outstanding
principal amount hereof (the “Principal”), together with interest (computed on the basis of a 365-day year) on the
outstanding principal amount at the rate of twelve percent (12%) per annum (the “Interest Rate”) from the date hereof
on the earlier of: (i) the six month anniversary of the Issuance Date (the “Maturity Date”) or (ii) an Event of Default
(as defined below),. 

 

1.            Payment.
All payments of principal of, and interest on, this Note are to be made in lawful money of the United States of America.

 

2.            Interest.
Interest on this Note shall commence accruing on the Issuance Date, shall accrue daily at the Interest Rate on the amount of Principal
amount from time to time then outstanding, be computed on the basis of a 365-day year comprised of twelve (12) months.

 

3.            Prepayment.
In the event the Company elects to repay the Holder in full prior to the Maturity Date, the Company may repay the Principal Amount
outstanding and all accrued and unpaid interest without the consent of the Holder.

 

4.           Conversion.
(a) At the written election of the Holder (the “Notice of Election to Convert”)
given to the Company at any time prior to ten (10) days prior to the Maturity Date, the principal together with all accrued and
unpaid interest on this Note shall convert into shares of Common Stock on the Maturity Date at a conversion rate equal to $0.20
per share.

 

(b)       Upon
receipt of an executed Notice of Election to Convert within the ten day period together with this Original Note, the Company shall,
as soon as practicable after the conversion date set forth in the Notice of Election to Convert, issue and deliver to Holder a
certificate or certificates for the number of shares to which such Holder shall be entitled upon such conversion, including a
check payable to Holder for any cash amounts payable as described in Section 4(c). The Company shall send the Holder a
notice via facsimile or electronic mail confirming receipt of the Notice of Election to Convert within two (2) days of receipt
thereof.

 

     

     

    

 

Any certificates representing shares of
Common Stock issued pursuant to this Section 4 shall bear the following legend:

 

THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF CERTAIN
STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE
ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM. THE
ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER,
PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS CERTIFICATE MUST BE SURRENDERED
TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN
ANY OF THE SECURITIES REPRESENTED HEREBY.

 

(c)       Fractional
Shares. No fractional shares of Common Stock shall be issued upon conversion of this Note. Upon the conversion of the outstanding
principal and unpaid accrued interest under this Note into Common Stock, in lieu of the Company issuing any fractional shares to
the Lender, the Company shall pay to the Holder the amount of outstanding principal and accrued interest that is not so converted.

 

5.           Governing
Law; Consent to Jurisdiction; Waiver of Jury Trial. This Note shall be governed by, and construed in accordance with, the internal
laws of the State of Nevada without regard to the choice of law principles thereof. The Company consents to accept service of process
by certified mail, return receipt requested in the event of litigation. The Company further consents to accept service of process
via recognized international courier in the case that the Company is not able to accept service by the certified mail provided
a receipt of delivery is available.

 

6.            Facsimile
Signatures. This Note may be executed by facsimile signature which shall, for all purposes be deemed to be as legally valid
and binding upon the Company as an original signature.

 

7.           Event
of Default. An “Event of Default” shall exist if any of the following conditions or events shall occur and be continuing:

 

(a)       The
Company shall fail to pay in full the entire outstanding principal amount of this Note and all interest accrued hereon when due;

 

(b)       The
Company defaults in the performance of or compliance with its obligations under this Note, and such default has not been cured
for thirty (30) days after written notice of default is given to the Company;

 

(c)       The
Company: (i) admits in writing its inability to pay, its debts as they become due; (ii) files, or consents by answer or otherwise
to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation
or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction; (iii)
makes an assignment for the benefit of its creditors; (iv) consents to the appointment of a custodian, receiver, trustee or other
officer with similar powers with respect to it or with respect to any substantial part of its property; (v) is adjudicated as insolvent
or to be liquidated; or (vi) takes corporate action for the purpose of any of the foregoing; or

 

     2

    

    

 

(d)       A
court or governmental authority of competent jurisdiction enters an order appointing, without consent by the Company, a custodian,
receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property,
or constituting an order for relief or approving a petition for relief or reorganization or any other petition in bankruptcy or
for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up
or liquidation of the Company, or any such petition shall be filed against such party and such petition shall not be dismissed
within six (6) months.

 

8.            Remedies
Following An Event Of Default. Upon occurrence of an Event of Default, this Note and all accrued interest to the date of such
default shall, at the option of the Holder, immediately become due and payable without presentment, protest or notice of any kind,
all of which are waived by the Company.

 

9.           Adjustments.
The number of shares of Common Stock to be issued upon each conversion of this Note shall be subject to adjustments as follows:

 

(a)       If
the Company at any time subdivides (by any stock split, stock dividend, recapitalization, reorganization, reclassification or otherwise)
the shares of Common Stock acquirable hereunder into a greater number of shares, then, after the date of record for effecting such
subdivision, the Conversion Rate in effect immediately prior to such subdivision will be proportionately reduced. If the Company
at any time combines (by any reverse stock split, recapitalization, reorganization, reclassification or otherwise) the shares of
Common Stock acquirable hereunder into a smaller number of shares, then, after the date of record for effecting such combination,
the Conversion Rate in effect immediately prior to such combination will be proportionately increased.

 

(b)       If
at any time or from time to time after the date upon which this Note was issued by the Company, the shares of Common Stock issuable
upon the conversion of this Note shall be changed into the same or a different number of shares of any class or classes of stock,
whether by recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or otherwise, then,
in any such event, each holder of the Notes shall have the right thereafter to convert such stock into the kind and amount of stock
and other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation,
sale of assets, or otherwise by a holder of the number of shares of Common Stock into which such shares of this Note could have
been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale
of assets, distribution of assets or other change, or with respect to such other securities or property by the terms thereof.

 

(c)       Upon
the occurrence of each adjustment or readjustment of the Conversion Rate as a result of the events described in this Section 9,
the Company, at its expense, shall compute such adjustment or readjustment and prepare and furnish to the Lender a certificate
setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based.
Failure to give such notice or any defect therein shall not affect the legality or validity of the subject adjustment.

 

10.         Vote
To Issue, Or Change The Terms Of, Notes. The written consent of the Holder shall be required for any change or amendment to
any of the Note.

 

11.         Transfer.
This Note may not be offered, sold, assigned or transferred by the Holder without the consent of the Company.

 

     3

    

    

 

12.         Reissuance Of This Note.

 

(a)       Lost,
Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by the
Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Company
shall execute and deliver to the Holder a new Note (in accordance with Section 10(c) representing the outstanding principal.

 

(b)       Note
Exchangeable for Different Denominations. This Note is exchangeable, upon the surrender hereof by the Holder at the principal
office of the Company, for a new Note or Notes (in accordance with Section 10(c) and in principal amounts of at least $10,000)
representing in the aggregate the outstanding Principal of this Note, and each such new Note will represent such portion of such
outstanding Principal as is designated by the Holder at the time of such surrender.

 

(c)       Issuance
of New Notes. Whenever the Company is required to issue a new Note pursuant to the terms of this Note, such new Note: (i) shall
be of like tenor with this Note; (ii) shall represent, as indicated on the face of such new Note, the Principal remaining outstanding
(or in the case of a new Note being issued pursuant to Section 10(b), the Principal designated by the Holder which, when added
to the principal represented by the other new Notes issued in connection with such issuance, does not exceed the Principal remaining
outstanding under this Note immediately prior to such issuance of new Notes); (iii) shall have an issuance date, as indicated on
the face of such new Note, which is the same as the Issuance Date of this Note; (iv) shall have the same rights and conditions
as this Note; and (v) shall represent accrued and unpaid interest, if any, on the principal of this Note, from the Issuance Date.

 

13.         Payment
of Collection, Enforcement and Other Costs. If: (a) this Note is placed in the hands of an attorney for collection or enforcement
or is collected or enforced through any legal proceeding or the Holder otherwise takes action to collect amounts due under this
Note or to enforce the provisions of this Note or (b) there occurs any bankruptcy, reorganization, receivership of the Company
or other proceedings affecting Company creditors’ rights and involving a claim under this Note, then the Company shall pay
the costs incurred by the Holder for such collection, enforcement or action or in connection with such bankruptcy, reorganization,
receivership or other proceeding, including, but not limited to, attorneys’ fees and disbursements.

 

14.         Construction;
Headings. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against
any Person as the drafter hereof. The headings of this Note are for convenience of reference and shall not form part of, or affect
the interpretation of, this Note.

 

15.         Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other
or further exercise thereof or of any other right, power or privilege. No waiver shall be effective unless it is in writing and
signed by an authorized representative of the waiving party.

 

16.          Notices; Payments.

 

(a)       Notices.
Whenever a notice is required to be given under this Note, unless otherwise provided herein, the notice shall be given to
the Holder’s address set forth above. Any notice, demand or request required or permitted to be given by the Company or
the Holder pursuant to the terms of this Note shall be in writing and shall be deemed delivered: (i) when delivered
personally or by verifiable facsimile transmission, unless such delivery is made on a day that is not a business day, in
which case such delivery will be deemed to be made on the next succeeding business day; (ii) on the next business day after
timely delivery to an overnight courier; and (iii) on the business day actually received if deposited in the U.S. mail
(certified or registered mail, return receipt requested, postage prepaid), addressed as follows:

 

     4

    

    

 

		COMPANY:	QPAGOS

Paseo de la Reforma 404 Piso 15 PH

Col. Juarez, Del. Cuauhtémoc  

Mexico, D.F. C.P. 06600

 

		with a copy to:	Gracin & Marlow, LLP

405 Lexington Avenue,
26th Floor

New York, New York 10174

Attention: Leslie Marlow, Esq.

Facsimile: (212) 208-4657

  

HOLDER:

 

(b)       Payments.
Except as otherwise provided in this Note, whenever any payment of cash is to be made by the Company to any person pursuant to
this Note, such payment shall be made in lawful money of the United States of America by a check drawn on the account of the Company
and sent via overnight courier service to such person at such address as previously provided to the Company in writing; provided,
that the Holder may elect to receive a payment of cash via wire transfer of immediately available funds by providing the Company
with prior written notice setting out such request and the Holder’s wire transfer instructions. Whenever any amount expressed
to be due by the terms of this Note is due on any day which is not a business day, the same shall instead be due on the next succeeding
day which is a business day.

 

17.         Cancellation.
After all principal, interest and other amounts at any time owed on this Note have been paid in full, this Note shall automatically
be deemed cancelled, shall be surrendered to the Company for cancellation and shall not be reissued.

 

18.         Severability.
If any provision of this Note is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Note so long as this Note as so modified continues to express, without material
change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties
or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good
faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which
comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

     5

    

    

 

IN WITNESS WHEREOF , the Company
has executed and delivered this Note on the date and year first above written.

 

	 	QPAGOS
	 	 	 
	 	By: 

	/s/ Gaston Pereira
	 	Name: Gaston Pereira
	 	Title: Chief Executive Officer

 

6Exhibit 4.23

 

NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE
ON EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY OTHER SECURITIES LAWS (THE “ACTS”).
NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK PURCHASABLE HEREUNDER MAY BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN
THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THIS WARRANT OR COMMON STOCK PURCHASABLE HEREUNDER, AS APPLICABLE, UNDER
THE ACTS, OR (B) AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION THAT REGISTRATION IS NOT REQUIRED UNDER SUCH
ACTS.

 

QPAGOS

WARRANT

 

VOID AFTER 5:00 P.M. NEW YORK TIME,

JUNE 28, 2020

 

Issue Date: June 29, 2017

 

1.       Basic
Terms. This Warrant (the “Warrant”)
certifies that, for value received, the registered holder specified below or its registered assigns (“Holder”) is
the owner of a warrant of QPAGOS, a Nevada corporation (the “Corporation”), subject to adjustments as provided herein,
to purchase One Hundred Eighty Thousand Three Hundred Sixty Five (180,365) shares of the Common Stock, $.001 par value, of the
Corporation (the “Common Stock”) from the Corporation at the price per share shown below (the “Exercise Price”).

 

 

	
        Holder:

         
	
        DELINVEST COMMERCIAL LTD 

        Drake Chambers 

        P.O. Box 3321 

        Roadtown, Tortola, BVI 

	Exercise Price per share: 	$0.30

  

Except as specifically provided otherwise, all references in
this Warrant to the Exercise Price and the number of shares of Common Stock purchasable hereunder shall be to the Exercise Price
and number of shares after any adjustments are made thereto pursuant to this Warrant.

 

2.       Corporation’s
Representations/Covenants. The Corporation represents and covenants that the shares of Common Stock issuable upon the
exercise of this Warrant shall at delivery be fully paid and non-assessable and free from taxes, liens, encumbrances and
charges with respect to their purchase. The Corporation shall take any necessary actions to assure that the par value per
share of the Common Stock is at all times equal to or less than the then current Exercise Price per share of Common Stock
issuable pursuant to this Warrant. The Corporation shall at all times reserve and hold available sufficient shares of Common
Stock to satisfy all conversion and purchase rights of outstanding convertible securities, options and warrants of the
Corporation, including this Warrant.

 

     

     

    

 

3.       Method
of Exercise; Fractional Shares.

 

(a)       Method
of Exercise. This Warrant is exercisable at the option of the Holder at any time by surrendering this Warrant, on any business
day during the period (the “Exercise Period”) beginning the business day after the issue date of this Warrant specified
above and ending at 5:00 p.m. (New York time) five (5) years after the issue date. To exercise this Warrant, the Holder shall surrender
this Warrant at the principal office of the Corporation or that of the duly authorized and acting transfer agent for its Common
Stock, together with the executed exercise form (substantially in the form of that attached hereto) and payment in cash or by wire
transfer of immediately available funds of an amount equal to the Exercise Price multiplied by the number of shares of the Common
Stock being purchased under this Warrant. The principal office of the Corporation is located at the address specified in Section
1 of this Warrant; provided, however, that the Corporation may change its principal office upon notice to the Holder.
Payment shall be made by check payable to the order of the Corporation or by wire transfer. This Warrant is not exercisable with
respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this Warrant
as to all full shares covered by this Warrant, the Corporation shall either at its option (1) pay for the fractional share cash
equal to the same fraction at the fair market price for such share; or (2) issue scrip for the fraction in the registered or bearer
form which shall entitle the Holder to receive a certificate for a full share of Common Stock on surrender of scrip aggregating
a full share.

 

4.       Protection
Against Dilution. If the Corporation, with respect to the Common Stock: (a) pays a dividend or makes a distribution on shares
of common stock that is paid in shares of common stock or in securities convertible into or exchangeable for Common Stock (in which
latter event the number of shares of common stock initially issuable upon the conversion or exchange of such securities shall be
deemed to have been distributed); (b) subdivides outstanding shares of Common Stock; (c) combines outstanding shares of Common
Stock into a smaller number of shares; or (d) issues by reclassification of common stock any shares of capital stock of the Corporation,
the Exercise Price in effect immediately prior thereto and the number of shares of Common Stock issuable under this Warrant shall
be adjusted so that each Holder thereafter shall be entitled to receive the number and kind of shares of Common Stock or other
capital stock of the Corporation that it would have owned or been entitled to receive in respect of this Warrant immediately after
the happening of any of the events described above had this Warrant been converted immediately prior to the happening of that event.
An adjustment made in accordance with this section shall become effective immediately after the record date, in the case of a dividend,
and shall become effective immediately after the effective date, in the case of a subdivision, combination, or reclassification.
If, as a result of an adjustment made in accordance with this Section 4, the Holder becomes entitled to receive shares of two or
more classes of capital stock or shares of common stock and other capital stock of the Corporation, the board of directors (whose
determination shall be conclusive) shall determine the allocation of the adjusted Exercise Rate between or among shares of such
classes of capital stock or shares of Common Stock and other capital stock.

 

    2 

     

    

 

5.       Adjustment
for Reorganization, Consolidation, Merger, Etc. In the event of any consolidation or merger to which the Corporation is a party
other than a consolidation or merger in which the Corporation is the continuing corporation, or the sale or conveyance to another
corporation of the property of the Corporation as an entirety or substantially as an entirety or any statutory exchange of securities
with another corporation (including any exchange effected in connection with a merger of a third corporation into the Corporation)
(each such transaction referred to herein as “Reorganization”), no adjustment of exercise rights or the Exercise
Price shall be made; provided, however, the Holder shall thereupon be entitled to receive and provision shall be made therefor
in any agreement relating to a Reorganization, the kind and number of securities or property (including cash) of the corporation
resulting from such consolidation or surviving such merger or to which such properties and assets shall have been sold or otherwise
transferred or with whom securities have been exchanged, which the Holder would have owned or been entitled to receive as a result
of such Reorganization had this Warrant been exercised immediately prior to such Reorganization (and assuming the Holder failed
to make an election, if any was available, as to the kind or amount of securities, property or cash receivable by reason of such
Reorganization; provided that if the kind or amount of securities, property or cash receivable upon such Reorganization is not
the same for each share of common stock in respect of which such rights of election shall not have been exercised (“non-electing
share”) then for the purpose of this section the kind and amount of securities, property or cash receivable upon such Reorganization
for each non-electing share shall be deemed to be the kind and amount so receivable per share by a plurality of the non-electing
shares). In any case, appropriate adjustment shall be made in the application of the provisions herein set forth with respect to
the rights and interests thereafter of the Holder, to the end that the provisions set forth herein (including the specified changes
and other adjustments to the conversion rate) shall thereafter be applicable, as nearly as reasonably may be, in relation to any
shares, other securities or property thereafter receivable upon exercise of this Warrant. The provisions of this section similarly
apply to successive Reorganizations.

 

6.       Notice
of Adjustment. On the happening of an event requiring an adjustment of the Exercise Price or the shares purchasable under this
Warrant, the Corporation shall, within thirty (30) days, give written notice to the Holder stating the adjusted Exercise Price
and the adjusted number and kind of securities or other property purchasable under this Warrant resulting from the event and setting
forth in reasonable detail the method of calculation and the facts upon which the calculation is based.

 

7.       Dissolution,
Liquidation. In case of the voluntary or involuntary dissolution, liquidation or winding up of the Corporation (other than
in connection with reorganization, consolidation, merger, or other transaction covered by paragraph 5 above) is at any time proposed;
the Corporation shall give at least thirty days prior written notice to the Holder. Such notice shall contain: (a) the date on
which the transaction is to take place; (b) the record date (which shall be at least thirty (30) days after the giving of the notice)
as of which holders of Common Stock will be entitled to receive distributions as a result of the transaction; (c) a brief description
of the transaction; (d) a brief description of the distributions to be made to holders of Common Stock as a result of the transaction;
and (e) an estimate of the fair value of the distributions. On the date of the transaction, if it actually occurs, this Warrant
and all rights under this Warrant shall terminate.

 

    3 

     

    

 

9.       Rights
of Holder. The Corporation shall deliver to the Holder all notices and other information provided to its holders of shares
of Common Stock or other securities which may be issuable hereunder concurrently with the delivery of such information to the holders.
This Warrant does not entitle the Holder to any voting rights or, except for the foregoing notice provisions, any other rights
as a shareholder of the Corporation. No dividends are payable or will accrue on this Warrant or the shares of Common Stock purchasable
under this Warrant until, and except to the extent that, this Warrant is exercised. Upon the surrender of this Warrant and payment
of the Exercise Price as provided above, the person or entity entitled to receive the shares of Common Stock issuable upon such
exercise shall be treated for all purposes as the record holder of such shares as of the close of business on the date of the surrender
of this Warrant for exercise as provided above. Upon the exercise of this Warrant, the Holder shall have all of the rights of a
shareholder in the Corporation.

 

10.     Exchange
for Other Denominations. This Warrant is exchangeable, on its surrender by the Holder to the Corporation, for a new Warrant
of like tenor and date representing in the aggregate the right to purchase the balance of the number of shares purchasable under
this Warrant in denominations and subject to restrictions on transfer contained herein, in the names designated by the Holder at
the time of surrender.

 

11.     Substitution.
Upon receipt by the Corporation of evidence satisfactory (in the exercise of reasonable discretion) to it of the ownership of and
the loss, theft or destruction or mutilation of the Warrant, and (in the case or loss, theft or destruction) of indemnity satisfactory
(in the exercise of reasonable discretion) to it, and (in the case of mutilation) upon the surrender and cancellation thereof,
the Corporation will issue and deliver, in lieu thereof, a new Warrant of like tenor.

 

12.     Restrictions
on Transfer. Neither this Warrant nor the shares of Common Stock issuable on exercise of this Warrant have been registered
under the Securities Act or any other securities laws (the “Acts”). Neither this Warrant nor the shares of Common Stock
purchasable hereunder may be sold, transferred, pledged or hypothecated in the absence of (i) an effective registration statement
for this Warrant or Common Stock purchasable hereunder, as applicable, under the Acts, or (ii) an opinion of counsel reasonably
satisfactory to the Corporation that registration is not required under such Acts. If the Holder seeks an opinion as to transfer
without registration from Holder’s counsel, the Corporation shall provide such factual information to Holder’s counsel
as Holder’s counsel reasonably requests for the purpose of rendering such opinion. Each certificate evidencing shares of
Common Stock purchased hereunder will bear a legend describing the restrictions on transfer contained in this paragraph unless,
in the opinion of counsel reasonably acceptable to the Corporation, the shares need no longer to be subject to the transfer restrictions.

 

13.     Transfer.
Except as otherwise provided in this Warrant, this Warrant is transferable only on the books of the Corporation by the Holder in
person or by attorney, on surrender of this Warrant, properly endorsed.

 

    4 

     

    

 

14.     Recognition
of Holder. Prior to due presentment for registration of transfer of this Warrant, the Corporation shall treat the Holder
as the person exclusively entitled to receive notices and otherwise to exercise rights under this Warrant. All notices
required or permitted to be given to the Holder shall be in writing and
shall be given
by first class mail, postage prepaid, addressed
to the Holder at the address
of the Holder appearing in the records of
the Corporation.

 

15.     Payment
of Taxes. The Corporation shall pay all taxes and other governmental charges, other than applicable income taxes, that may
be imposed with respect to the issuance of shares of Common Stock pursuant to the exercise of this Warrant.

 

16.     Headings.
The headings in this Warrant are for purposes of convenience in reference only, shall not be deemed to constitute a part of this
Warrant and shall not affect the meaning or construction of any of the provisions of this Warrant.

 

17.     Miscellaneous.
This Warrant may not be changed, waived, discharged or terminated except by an instrument in writing signed by the Corporation
and the Holder. This Warrant shall inure to the benefit of and shall be binding upon the successors and assigns of the Corporation.
Under no circumstances may this Warrant be assigned by the Holder.

 

18.     Governing
Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Nevada without giving effect
to its principles governing conflicts of law.

 

 

	 	QPAGOS
	 	 	 
	 	By: 

	/s/
    Gaston Pereira
	 	Name: Gaston Pereira
	 	Title: President and Chief Executive
    Officer

  

    5 

     

    

 

QPAGOS

Form of Transfer

 

(To be executed by the Holder to transfer
the Warrant)

 

For value received the undersigned registered
holder of the attached Warrant hereby sells, assigns, and transfers the Warrant to the Assignee(s) named below:

 

	Names of

        

        Assignee
	 	Address 
	 	Taxpayer
ID No. 
	 	Number
of shares 

        subject to transferred

Warrant 

	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

The undersigned registered holder further
irrevocably appoints ____________________ _______________________________ attorney (with full power of substitution) to transfer
this Warrant as aforesaid on the books of the Corporation.

 

	Date:	 	 	
	 	 	 	Signature

 

 

    6 

     

    

  

QPAGOS 

Exercise Form

 

(To be executed by the Holder to purchase

Common Stock pursuant to the Warrant)

 

The undersigned holder of the attached Warrant hereby irrevocably
elects to exercise purchase rights represented by such Warrant for, and to purchase,____________shares of Common Stock of QPAGOS, a Nevada
corporation. The undersigned tenders payment for those shares by wire transfer or enclosed check.

 

The undersigned requests that (1) a certificate
for the shares be issued in the name of the undersigned and (2) if the number of shares with respect to which the undersigned holder
has exercised purchase rights is not all of the shares purchasable under this Warrant, that a new Warrant of like tenor for the
balance of the remaining shares purchasable under this Warrant be issued.

  

	Date:	 	 	
	 	 	 	Signature

 

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}]]