Merchant Services Agreement (MSA)

Merchant Services Agreement (MSA)

This Merchant Services Agreement ("Agreement" or "MSA") is entered into between FimiPay ("FimiPay", "we", "our", or "us") and the merchant, business entity, organization, or individual accepting payments through FimiPay ("Merchant", "you", or "your").

By registering for a merchant account, integrating FimiPay services, accepting payments through the platform, or otherwise using FimiPay merchant services, you agree to be bound by this Agreement.

1. Purpose

This Agreement governs the Merchant's use of FimiPay payment processing services, APIs, settlement services, verification services, fraud prevention systems, reporting tools, and related products and services.

2. Merchant Eligibility

To use FimiPay merchant services, the Merchant must:

• Be legally authorized to conduct business.
• Possess all required licenses, permits, and registrations.
• Provide complete and accurate business information.
• Comply with all applicable laws and regulations.
• Maintain a valid bank account or approved settlement account.

FimiPay reserves the right to approve, reject, suspend, or terminate any merchant application at its sole discretion.

3. Merchant Account Verification

Before activating merchant services, FimiPay may require verification of:

• Business registration documents.
• Tax identification information.
• Ownership information.
• Directors and beneficial owners.
• Government-issued identification documents.
• Selfie verification of authorized representatives.
• Proof of business operations.
• Bank account ownership.

FimiPay may request additional documentation at any time for compliance, security, fraud prevention, or regulatory purposes.

4. Services Provided

FimiPay may provide:

• Payment collection services.
• Mobile money payment processing.
• Bank payment processing.
• Merchant dashboard access.
• Payment APIs.
• Transaction reporting.
• Settlement services.
• Fraud monitoring.
• Identity verification services.
• Risk management tools.

The availability of specific services may vary by jurisdiction, industry, or account type.

5. Merchant Responsibilities

The Merchant agrees to:

• Provide accurate business information.
• Maintain current contact details.
• Operate lawfully.
• Deliver products and services as advertised.
• Resolve customer complaints promptly.
• Comply with payment network requirements.
• Protect customer information.
• Maintain adequate records of transactions.

The Merchant is solely responsible for the products and services sold to customers.

6. Prohibited Activities

The Merchant shall not use FimiPay for:

• Illegal activities.
• Money laundering.
• Terrorist financing.
• Fraudulent transactions.
• Sale of counterfeit goods.
• Unauthorized financial services.
• Pyramid schemes.
• Gambling activities without proper authorization.
• Adult content without prior written approval.
• Any activity prohibited by applicable law.

FimiPay may immediately suspend or terminate accounts involved in prohibited activities.

7. Payment Processing

FimiPay acts as a payment technology provider and facilitator.

The Merchant acknowledges that:

• Transactions may be subject to verification and risk review.
• Certain transactions may be delayed, declined, reversed, or canceled.
• Processing depends on third-party financial institutions and payment providers.
• FimiPay does not guarantee transaction approval.

FimiPay reserves the right to reject any transaction that presents legal, compliance, operational, or security risks.

8. Settlement of Funds

Subject to successful transaction processing and applicable review procedures, FimiPay will settle funds to the Merchant according to the applicable settlement schedule.

Settlement schedules may vary based on:

• Merchant risk profile.
• Industry category.
• Verification status.
• Payment method.
• Regulatory requirements.

FimiPay may temporarily withhold settlements where necessary to investigate:

• Fraud.
• Chargebacks.
• Suspicious activity.
• Regulatory concerns.
• Security incidents.

9. Merchant Fees

The Merchant agrees to pay all applicable fees associated with the Services.

Fees may include:

• Transaction processing fees.
• Settlement fees.
• Withdrawal fees.
• API service fees.
• Subscription fees.
• Chargeback fees.
• Investigation fees.

Applicable pricing may be communicated through the merchant dashboard, service agreements, pricing schedules, or other official communications.

FimiPay may deduct fees directly from transaction proceeds or settlement balances.

10. Refunds

The Merchant is responsible for managing customer refunds.

Refund requests shall be handled in accordance with applicable laws and the Merchant's refund policy.

FimiPay may facilitate refunds through available platform functionality but assumes no responsibility for the Merchant's obligations to customers.

11. Chargebacks and Disputes

The Merchant bears full responsibility for chargebacks, disputes, claims, and payment reversals arising from transactions processed through FimiPay.

The Merchant agrees that FimiPay may:

• Deduct disputed amounts.
• Reverse settlements.
• Hold reserve balances.
• Recover investigation costs.
• Offset liabilities against future settlements.

The Merchant shall cooperate fully with dispute investigations and provide requested documentation promptly.

12. Reserve Accounts

FimiPay may establish a reserve account or retain a percentage of processed funds where necessary to manage risk.

Reserve requirements may be based on:

• Transaction volume.
• Industry risk.
• Chargeback history.
• Regulatory requirements.
• Fraud indicators.

Funds held in reserve may be retained for a reasonable period after account closure.

13. Identity Verification and Selfie Verification

To protect merchants, customers, and the integrity of the platform, FimiPay may collect and process identity verification information.

The Merchant consents to the collection and processing of:

• Government-issued identification documents.
• Business verification documents.
• Selfie photographs.
• Facial images.
• Ownership verification information.

FimiPay may compare submitted selfies with identification documents to verify identity and prevent fraud.

Verification information may be retained for compliance, audit, fraud prevention, and legal purposes.

Failure to complete verification requirements may result in delayed onboarding, restricted services, suspension, or termination.

14. Compliance Obligations

The Merchant agrees to comply with:

• Anti-Money Laundering (AML) laws.
• Know Your Customer (KYC) requirements.
• Counter-Terrorist Financing (CTF) regulations.
• Data protection laws.
• Consumer protection regulations.
• Tax reporting obligations.
• Applicable financial regulations.

The Merchant shall provide information reasonably requested by FimiPay to satisfy regulatory requirements.

15. Data Protection

The Merchant shall:

• Protect customer data.
• Implement appropriate security controls.
• Use customer information only for legitimate business purposes.
• Comply with applicable privacy laws.

FimiPay may process merchant and customer information for service delivery, fraud prevention, compliance, security monitoring, and legal obligations.

16. API and Technical Services

Merchants using FimiPay APIs agree to:

• Protect API credentials.
• Follow official integration requirements.
• Implement secure systems.
• Avoid excessive or abusive API usage.

FimiPay may suspend API access where misuse or security concerns are identified.

17. Suspension and Termination

FimiPay may suspend, restrict, or terminate merchant services immediately where:

• Fraud is suspected.
• False information is provided.
• Regulatory concerns arise.
• Security risks are identified.
• This Agreement is violated.

Termination does not relieve the Merchant of obligations relating to chargebacks, disputes, fees, refunds, investigations, or legal requirements.

18. 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 total liability under this Agreement shall not exceed the total fees paid by the Merchant to FimiPay during the six (6) months preceding the claim.

19. Indemnification

The Merchant agrees to indemnify and hold harmless FimiPay, its affiliates, officers, directors, employees, agents, and service providers from any claims, liabilities, damages, losses, penalties, costs, or expenses arising from:

• Merchant products or services.
• Merchant misconduct.
• Violation of laws.
• Violation of this Agreement.
• Customer disputes.
• Intellectual property claims.

20. Confidentiality

Both parties agree to maintain the confidentiality of non-public information obtained through the business relationship.

Confidential information shall not be disclosed except where required by law or necessary for service provision.

21. Modifications

FimiPay may update this Agreement periodically.

Updated versions become effective upon publication on the FimiPay platform or website.

Continued use of merchant services constitutes acceptance of the revised Agreement.

22. Governing Law

This Agreement shall be governed by and interpreted in accordance with the laws of the United Republic of Tanzania.

Any dispute arising from this Agreement shall be submitted to the competent courts of Tanzania.

23. Contact Information

FimiPay

Website: https://fimipay.com

Email: [email protected]

Acceptance

By registering a merchant account, integrating FimiPay APIs, accepting payments through FimiPay, or otherwise using the Services, the Merchant acknowledges that they have read, understood, and agreed to be bound by this Merchant Services Agreement.