About our terms of service

iPay is a payment processing product of iPay Solutions Limited a company registered in the Republic of Ghana. The Service facilitates the processing of payment transactions to complete a payment for a purchase between a Buyer and a Seller (Merchant).iPay may delay payment processing of suspicious transactions or transactions which may involve fraud, misconduct, or violate applicable law, this Terms of Service for Buyers, or other applicable iPay or Service policies, as determined in iPay’s sole and absolute discretion. Buyer authorizes the charge or debit to Buyer’s Payment Instrument as necessary to complete processing of a Payment Transaction. Buyer also authorizes the crediting to Buyer’s Payment Instrument in connection with reversals, refunds, or adjustments through the Service. By using this service, you acknowledge and agree that your purchases of Products are transactions between you and the Seller (Merchant), and not with iPay, iPay Solutions Ltd or any of iPay’s affiliates. iPay is not a party to your purchase of Products, and iPay, iPay Solutions Ltd or other iPay affiliates are not a buyer or a seller in connection with any Payment Transaction, unless expressly designated as such.

You provide us with basic information about your company; we will seek to verify your information (we may work with third parties to do so) and approve your merchant account unless deemed risky (by us or our payment processors). You give us permission to do all this, and to periodically update the information or we otherwise must decline to offer you the service.

Your iPay account is an account which enables you to receive payment from any issuer integrated into the iPay platform (for the purposes of this document, we define an issuer as any entity which can provide an electronic means of funds transfer and payment).

Your iPay account is denominated in the Ghanaian currency. This will remain so until, such time when any changes are made.

By default any payment received (minus our fees) are automatically cleared to a licensed bank account or any other settlement account provided to iPay during your account setup stage, on 7 day rolling basis unless within 48 hours.

All funds related to transaction detailed on an iPay account belong to the person or legal entity which registered as the account holder. No person other than that Account holder has any rights in relation to the fund held in an iPay account, except in cases of succession. You may not assign or transfer your iPay account to third party or otherwise grant any third party a legal or equitable interest over it.

By registering for the Service, you appoint iPay as your agent to process payments on your behalf in accordance with your instructions, subject to the terms and restrictions of this Agreement.

iPay will at all times hold your funds separate from its corporate funds, will not use your funds for its operating expenses or any other corporate purposes, and will not voluntarily make funds available to its creditors in the event of bankruptcy or for any other purpose.

You acknowledge that (i) iPay is not a bank and the Service is a payment processing service rather than a banking service, and (ii) iPay is not acting as a trustee, fiduciary or escrow with respect to your funds, but is acting only as an agent and custodian.

By receiving payments through the Service, you appoint iPay as your agent to cause the funds to be deposited on your behalf in the Holding Account until you further instruct iPay with respect to the transmission of your funds.

In order to use iPay merchant and payment services you must first open an iPay account by registering your details on our servers. As part of the signup process you will need to accept these Terms and Conditions and our Privacy Policy. If you order additional services, you may be asked to accept additional terms and conditions. You should print out and keep a copy of these terms and condition for future reference. You will receive a merchant key upon opening your account which you are mandated to keep secure.

You must be 18 years or older to use our services and by opening iPay account you declare that you are 18 years or older. This does not apply to products for which we set different age limit. We may require at any time that you provide evidence of your age.

You may only open one iPay merchant account unless we explicitly approve the opening of additional accounts.

All information you provide during the signup process or any time thereafter must be accurate and truthful. You may only add payment instruments (such as bank accounts, mobile money numbers) to your iPay Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which you are not the named holder as a fraudulent act.

This guide covers some of the basics of setting up and using your iPay account. As you begin to integrate iPay into your website or app, you’ll want to know about the following account features and processes:

• Basic and Standard Modes
• Merchant keys
• Upgrading your account
• Keeping your account safe
• Transaction Reporting

We can terminate this agreement at any time (especially if you do something bad).You may also close your iPay account at any time by contacting customer service. Termination is effective immediately and does not alter your liability for processed payments or related chargebacks.

Closing your Account does not extinguish the personal data we hold on you and we will continue to store such data, including transaction history, for a minimum period of five years as required by law.

The Agreement is effective upon the date you agree to it (by electronically indicating acceptance) and continues so long as you use the Service or until terminated by you or iPay.

Welcome to iPay. We developed this payment service (the “Service”) to make it easy for our users’ process payments from a variety of sources such as mobile money, credit or debit card and bank account payments online from their customers so they can focus their core business, product or service. We are partners to the major electronic issuers in Ghana, be it the mobile money institutions, or banks and while we can accept payment on your behalf (ie, money hits our accounts and we transfer to you), we only provide software that facilitates your payments from these electronic payment issuers and we do not claim to be an electronic payment issuer on our own.

For any failed transactions or customers who require refunds these transactions fall outside of the remit of iPay, the customer shall be directed to report such requests directly to you the merchant.

By accepting these terms of service, you agree to submit any and all refunds and adjustments for returns of your products and services through the iPay Service to the customer in accordance with the terms of this Agreement. We require that you will (i) maintain a fair delivery and return, cancellation or adjustment policy; (ii) disclose your delivery, return or cancellation policy to customers at the time of purchase.

Full refunds must be for the exact amount of the original transaction including tax, handling charges, and other. The refund amount may not exceed the original sale amount except by an amount equal to any reimbursements to customer for postage costs incurred for product returns. You will use best efforts to process all refunds within sixty (60) days after the original transaction date, and you acknowledge that refunds processed after that time may not be capable of being processed.

For processed refunds, iPay will deduct the refund amount (including any applicable Fees) from (i) settlement funds owed to you from processing of other transactions. If these funds are not sufficient, you agree to pay all funds owed to iPay upon demand. You are solely responsible for accepting and processing returns of your products and services; iPay has no responsibility or obligation for processing such returns.

A Chargeback is typically caused when a customer disputes a charge that appears on their bill. A Chargeback may result in the reversal of a transaction, with the amount charged back to you. You can be assessed Chargebacks for: (i) customer disputes, or (ii) unauthorized or improperly authorized transactions, or (iii) transactions that do not comply with the terms of this Agreement or are allegedly unlawful or suspicious, or (iv) any reversals for any reason by the Card Network, our processor or acquiring bank, or the cardholder bank.

When a Chargeback is issued, you are immediately liable to iPay for the full amount of payment of the Chargeback plus any associated Fees, fines, expenses or penalties (including those assessed by the Card Networks or our payment processors). You agree that iPay may recover these amounts by setting off any amounts owed to you by us. If we are unable to recover funds related to a Chargeback for which you are liable, you will pay us the full amount of the Chargeback immediately upon demand. You agree to pay all costs and expenses, including without limitation attorneys’ fees and other legal expenses, incurred by or on behalf of us in connection with the collection of any unpaid Chargebacks unpaid by you.

The processing of your data is governed by our Privacy Policy which also can be found on our website. By accepting these Terms and conditions, you also agree to the terms of our Privacy Policy. You should print and keep a copy of the Privacy Policy together with these Terms and conditions.

It is strictly forbidden to use your iPay Account for any illegal purposes including but not limited to fraud and money laundering. iPay will report any suspicious activity to the relevant law enforcement agency. You are prohibited from using your iPay Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed by a merchant on the services it provides.

It is yours and not iPays’ responsibility to ensure that you only receive payments from persons or entities for the sale or supply of goods and services that you may provide or receive in compliance with any applicable laws and regulations. The mere fact that a person or entity accepts payments through iPay is not an indication of the legality of the supply or provision of their goods and services.

iPay’s solution is provided on an “as is” and “as available” basis. Neither iPay Solutions Ltd nor any of its associates, including but not limited to its directors, employees, agents, designers, contractors, merchants (collectively, “Associates”) warrant that use of iPay will be uninterrupted or error-free. Under no circumstances shall iPay or its Associates be liable for any direct, indirect, incidental, special or consequential damages that result from your use of or inability to use iPay, including but not limited to your reliance, on any information obtained from iPay that results in mistakes, omissions, interruptions, deletion or corruption of files, viruses, delays in operation or transmission, or any failure of performance. The foregoing limitation shall apply in any action, whether in contract, tort or any other claim, even if an authorized representative of iPay has been advised of or should have knowledge of the possibility of such damages. You hereby acknowledge that this paragraph shall apply to all content, merchandise and services available through the iPay suite of solutions.