This Acquirer Service Agreement ("Agreement") is entered into between FimiPay ("FimiPay", "Acquirer", "we", "our", or "us") and the merchant, business entity, financial institution, payment facilitator, or organization utilizing FimiPay acquiring and payment processing services ("Merchant", "you", or "your").
By registering for, accessing, integrating, or using FimiPay acquiring services, you agree to be bound by this Agreement.
1. Purpose
This Agreement governs the provision and use of acquiring services, payment acceptance services, settlement services, transaction processing services, merchant onboarding services, fraud prevention services, and related payment infrastructure offered by FimiPay.
2. Definitions
Acquirer means FimiPay acting as a payment acquiring service provider.
Merchant means any individual, business, organization, or institution accepting payments through FimiPay.
Cardholder means an individual authorized to use a payment instrument.
Transaction means any payment instruction processed through the FimiPay platform.
Settlement means the transfer of processed funds to the Merchant.
Chargeback means a transaction reversal initiated by a customer, issuer, payment network, or regulatory authority.
3. Acquiring Services
FimiPay may provide:
- Payment acceptance services.
- Mobile money acquiring services.
- Bank payment processing.
- Card payment processing where available.
- Merchant onboarding.
- Settlement services.
- Transaction reporting.
- Risk monitoring.
- Fraud prevention tools.
- Compliance and verification services.
- Payment APIs and technical integrations.
FimiPay reserves the right to modify, enhance, suspend, or discontinue any service at its discretion.
4. Merchant Onboarding and Verification
The Merchant agrees to provide all information reasonably requested by FimiPay, including:
- Business registration certificates.
- Tax registration documents.
- Business licenses.
- Ownership information.
- Director and shareholder information.
- Government-issued identification documents.
- Selfie verification.
- Bank account verification.
- Proof of business operations.
FimiPay may conduct ongoing reviews and request updated information at any time.
5. Merchant Obligations
The Merchant agrees to:
- Operate lawfully and ethically.
- Provide accurate business information.
- Deliver goods and services as advertised.
- Maintain customer support processes.
- Comply with applicable laws and regulations.
- Cooperate with investigations and audits.
- Protect customer information.
- Maintain transaction records.
The Merchant is solely responsible for the products and services sold to customers.
6. Transaction Processing
FimiPay will process transactions submitted by the Merchant subject to:
- Compliance reviews.
- Fraud monitoring.
- Risk assessments.
- Network availability.
- Regulatory requirements.
FimiPay reserves the right to reject, delay, suspend, reverse, or cancel any transaction that presents operational, compliance, security, or legal risks.
Transaction authorization does not guarantee settlement.
7. Settlement of Funds
FimiPay will settle approved transactions according to the agreed settlement schedule.
Settlement may be delayed where:
- Fraud is suspected.
- Chargebacks are pending.
- Regulatory reviews are required.
- Account verification is incomplete.
- Security investigations are ongoing.
Settlement schedules may vary based on:
- Transaction type.
- Merchant category.
- Risk profile.
- Payment channel.
- Regulatory requirements.
8. Fees and Charges
The Merchant agrees to pay all applicable fees including:
- Transaction fees.
- Acquiring fees.
- Processing fees.
- Settlement fees.
- Chargeback fees.
- Investigation fees.
- API service fees.
- Subscription fees.
FimiPay may deduct fees directly from settlements, balances, or processed funds.
9. Chargebacks and Disputes
The Merchant assumes full responsibility for:
- Customer disputes.
- Refund requests.
- Chargebacks.
- Payment reversals.
FimiPay may:
- Reverse transactions.
- Recover disputed amounts.
- Deduct funds from settlements.
- Hold reserves.
- Offset future settlements.
The Merchant shall provide requested documentation within the required timeframe.
Failure to respond may result in automatic liability for the disputed transaction.
10. Fraud Prevention and Risk Management
FimiPay may implement fraud prevention and risk management measures including:
- Transaction monitoring.
- Identity verification.
- Device analysis.
- Behavioral monitoring.
- Risk scoring.
- Manual reviews.
The Merchant agrees to cooperate with all risk and compliance procedures.
11. Reserve Accounts
FimiPay may establish reserve requirements where necessary to manage risk.
Reserve requirements may be based on:
- Chargeback history.
- Industry classification.
- Processing volume.
- Fraud indicators.
- Compliance considerations.
Reserve funds may be retained after account termination until all potential liabilities are resolved.
12. Compliance Requirements
The Merchant agrees to comply with:
- Anti-Money Laundering (AML) laws.
- Know Your Customer (KYC) requirements.
- Counter-Terrorist Financing (CTF) regulations.
- Consumer protection laws.
- Tax obligations.
- Data protection regulations.
- Payment network rules.
Failure to comply may result in suspension or termination.
13. Identity and Selfie Verification
To maintain platform security and comply with regulatory obligations, FimiPay may collect and process:
- National IDs.
- Passports.
- Driver's licenses.
- Business registration documents.
- Selfie photographs.
- Facial verification data.
By submitting verification information, the Merchant consents to:
- Identity verification.
- Fraud prevention reviews.
- Compliance assessments.
- Ongoing monitoring where legally permitted.
Verification information may be retained for audit, compliance, legal, and security purposes.
14. Data Protection and Confidentiality
Both parties agree to:
- Protect confidential information.
- Implement appropriate security measures.
- Use information only for legitimate business purposes.
- Comply with applicable privacy and data protection laws.
Confidential information shall not be disclosed except where required by law or necessary to provide services.
15. API and Technical Integration
Merchants using FimiPay APIs agree to:
- Protect API credentials.
- Follow technical documentation.
- Maintain secure environments.
- Report security incidents promptly.
FimiPay may suspend API access where misuse or security risks are detected.
16. Suspension and Termination
FimiPay may suspend, restrict, or terminate services immediately where:
- Fraud is suspected.
- False information is provided.
- Compliance violations occur.
- Regulatory obligations require action.
- Security concerns arise.
- This Agreement is breached.
Termination shall not affect any accrued rights, liabilities, or obligations.
17. Limitation of Liability
To the maximum extent permitted by law, FimiPay shall not be liable for:
- Indirect damages.
- Consequential damages.
- Loss of revenue.
- Loss of profits.
- Business interruption.
- Data loss.
- Reputational damage.
FimiPay's aggregate liability shall not exceed the total fees paid by the Merchant during the six (6) months preceding the claim.
18. Indemnification
The Merchant agrees to indemnify and hold harmless FimiPay, its affiliates, directors, officers, employees, agents, and service providers from any claims, losses, liabilities, damages, penalties, costs, or expenses arising from:
- Merchant activities.
- Customer disputes.
- Regulatory violations.
- Fraudulent conduct.
- Violation of this Agreement.
- Third-party claims.
19. Amendments
FimiPay may amend this Agreement from time to time.
Updated versions become effective upon publication on the FimiPay platform or website.
Continued use of the Services constitutes acceptance of any amendments.
20. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the United Republic of Tanzania.
Any dispute arising out of or relating to this Agreement shall be subject to the exclusive jurisdiction of the courts of Tanzania.
21. Contact Information
FimiPay
Website: https://fimipay.com
Email: [email protected]
Acceptance
By registering for, integrating with, or using FimiPay acquiring services, the Merchant acknowledges that they have read, understood, and agreed to be bound by this Acquirer Service Agreement.