Terms and Conditions for Zed Pay – Kuwait

Terms and Conditions:

The terms and conditions mentioned below constitute the agreement between the users of Zid Pay and Zid Company.

Definitions:

  • Zid Pay: A service that allows merchants to conduct sales transactions through payment service providers on a platform belonging to Zid. It is also referred to as "Zid Pay" or "the service" in these terms and conditions.
  • Service Activation: The process where the merchant requests the activation of the Zid Pay service.
  • Merchant: The user registered with Zid Pay and the owner of a store on the Zid platform.

General Terms:

  • Only companies, institutions, individuals, and organizations authorized to conduct payment transactions and receive funds in their country by official authorities may subscribe to use Zid Pay. Zid Pay cannot be used by those who are not authorized to receive money or conduct business, whether commercial or non-commercial, in their country.
  • The amounts processed in sales transactions through Zid Pay must serve the same purpose as indicated on the invoice and align with the merchant's licensed activities.
  • The commercial name shown on the invoice must represent the merchant and their authorized activities.
  • The merchant must have obtained their store according to the terms and conditions approved by Zid when subscribing, and it must comply with all regulatory and legal requirements. The merchant alone is responsible for adhering to all such requirements.
  • The merchant agrees that Zid Pay may request additional information or updates to previously provided data at any time. Examples of such information include, but are not limited to, proof of identity, business policies and procedures, financial information, licenses, invoices, delivery receipts, or other relevant data. Failure of the merchant to cooperate in providing the required information may result in service disruption or contract termination.
  • The merchant agrees to inform Zid Pay of any modifications to their business activities.
  • This contract is governed by the laws of the Kingdom of Saudi Arabia, where Zid Pay provides its services, and any dispute arising between the merchant and Zid Pay falls under the jurisdiction of the courts of Riyadh.
  • Zid Pay has the right to modify the terms and conditions at any time and notify the merchant accordingly.
  • The merchant's use of the service to conduct their transactions means authorizing Zid to process those transactions.
  • If the merchant becomes aware or suspects that any payments have been made without their authorization or were conducted incorrectly, they must notify Zid Pay as soon as possible by submitting a ticket. This will allow the merchant to claim any payment made into their wallet without authorization or made incorrectly. Zid Pay is not responsible for any payment made incorrectly if the merchant fails to report it immediately. Zid Pay will make every effort to recover the funds from the incorrect recipient or the payment service provider involved, but there are no guarantees.
  • Any waiver made by any party of its rights or obligations under these terms and conditions will not be valid unless it is in writing and signed by the waiving party. Failure by any party to enforce or insist on the strict performance of any of these terms and conditions or the exercise of any of their rights or remedies will not constitute a waiver of such rights or remedies, and they remain in full force and effect.
  • Zid Pay has the right to change the commission on merchant purchases at any time.
  • The merchant acknowledges and understands that "Apple Pay" transactions are not protected by 3D Secure by certain banks and payment card systems.
  • The merchant is responsible for paying any chargeback or fraud-related amounts that are deducted by Zid Pay in the event of a dispute in favor of the cardholder. The merchant agrees that Zid Pay has the right to deduct these amounts directly from their available balance, and the merchant commits to paying any amounts deducted by Zid Pay due to fraud or chargeback operations related to the merchant’s activities if there is no available balance in their Zid Pay account.
  • The merchant using "Apple Pay" as a payment method acknowledges that they are subject to Apple’s terms and conditions (Apple Pay Merchant Terms) and Zid Pay is not responsible for the merchant's failure to comply with these terms.

Prohibited Activities: The merchant may not use Zid Pay for any prohibited activity or deal with prohibited entities as outlined by Zid Pay or the State of Kuwait or the merchant's country of activity. These include:

  • Individuals listed in criminal activity or in the general lists (blacklists) of criminal activities, drug trafficking, or terrorist organizations.
  • Individuals whose activities are difficult to verify or whose source of income does not align with their financial situation.
  • Individuals who refuse to provide us with the requested information or documents needed to verify their activities or sources of income or who provide questionable or manipulated documents.
  • Institutions and companies where the shareholders or organizational structure cannot be determined.
  • Unauthorized money exchange offices or similar entities.
  • Financial institutions based in countries or regions without a physical presence and not subject to financial supervision (often referred to as "shell banks").
  • Activities incompatible with Islamic law.
  • Unauthorized brokers or intermediaries.
  • Cryptocurrency companies such as Bitcoin or digital currency trading accounts.
  • Activities directly or indirectly involving countries subject to international sanctions, including (Iran, Syria, Russia, Sudan, Cuba, Eritrea, Crimea, the Central African Republic, North Korea, Yemen, Iraq, Ukraine), etc.
  • Merchants who fail to provide sufficient information to verify their identity or the identity of the ultimate beneficiary.
  • The merchant or the ultimate beneficiary (the partner in the transaction) who has been subject to sanctions under the decisions of the United Nations, the UK Treasury, the European Union, or the Office of Foreign Assets Control, or any other sanction list.
  • Merchants offering unauthorized financial services without approval from the Central Bank, e.g., unauthorized financial investments, trading companies, money collection or remittance services, etc.
  • Anonymous accounts or accounts registered under fictitious names.
  • Numbered accounts identified by numbers instead of names.
  • Merchants who have not completed the required due diligence procedures or cannot be traced due to uncertainty or ambiguity in the available information.
  • Sale of cigarettes, e-cigarettes, and all tobacco products and accessories.
  • Gambling/auction.
  • Sale of animals.
  • Pornographic content.
  • Digital currencies (e.g., Crypto, Bitcoin) and similar currencies.
  • Providing digital currency consulting services.
  • Digital games (e.g., PUBG, etc.).
  • Digital cards (e.g., iTunes cards and similar digital cards).
  • Marriage proposal platforms.
  • Dream interpretation.
  • Buying and selling social media accounts and followers.
  • Forex and trading consultancy.
  • Dropshipping.
  • Electronic subscriptions (e.g., Netflix, OSN, etc.).
  • Prohibited or restricted activities may be updated at any time, with notice to the merchant.
  • Digital products: Some digital products are accepted based on the evaluation of the product type by the service provider or any activity not compliant with the service provider.

Using Zid Pay Services:

  • Service Activation:

    • The merchant must attach a front and back image of their national ID to use Zid Pay.
    • The information provided by the merchant to activate the service must be correct.
    • The merchant's activities must be legitimate and not related to any prohibited activities.
    • If the information provided for service activation is incorrect, the merchant is given a 14-day grace period to correct the details. If the merchant fails to correct them, their account will be disabled, and all amounts will be refunded to the final customers.
    • The merchant is solely responsible for ensuring that products match those listed in the store and for delivering them to the end customer.
    • Upon activation of Zid Pay, the other payment gateway on the store will be deactivated.

  • Transaction Fees:

    • Zid Pay fees are based on the package selected for the Zid store. If the merchant selects the basic package, the basic Zid Pay fee will apply. If the growth package is selected, the growth Zid Pay fee will apply. If the professional package is selected, the professional Zid Pay fee will apply.
    • Fees are deducted as a percentage of transactions.
    • Zid Pay may update transaction fees at any time after notifying the merchant.

  • Collecting Payments:

    • Payments are collected daily.
    • Payments are transferred when the collected amounts exceed 1 Kuwaiti Dinar.
    • Zid Pay will review the data and update the merchant with an acceptance or rejection, giving them time for corrections before completing the deposit process.
    • Zid Pay has the right to temporarily suspend payments if there are any violations or doubts regarding the merchant’s activities until clarification is provided.

  • Data Retention:

    • Zid Pay and the service provider have the right to retain customer data.

  • Compensation Policy:

    • The compensation policy for Zid Pay services aligns with the compensation policies of Zid Company.

  • Account Deactivation:

    • Zid Pay has the right to deactivate an account after notifying the merchant of the deactivation.

Payment Settlement and Refund Process:

  • Zid Pay may withhold payments and request supporting documents and evidence to verify the legitimacy of payments. If the merchant fails to provide sufficient evidence to prove the legitimacy of the payments, Zid Pay has the right to take all necessary actions, including refunding payments to the source, deactivating the account, and notifying the concerned authorities without informing the user or obtaining their consent. Information exchanged with financial institutions or relevant authorities may include details about the user’s financial transactions or any other information as needed.
  • The user has no right to object to withholding any amounts related to payment transactions or those refunded to their source if they fail to provide evidence proving the legitimacy of the payment transactions.
  • Payment settlements and deposits are done daily from Sunday to Thursday, excluding official holidays. Zid Pay may withhold payments for an indefinite period if it determines or finds that payment transactions are suspicious or illegal.
  • Deposit settlements are made based on the banking details provided by the user when registering their account with Zid Pay. The user may request to change their registered banking details via their Zid Pay account or official email.
  • The user has the option to use the “Refund” option to recover the full or partial amount of a payment transaction, provided there is sufficient balance in their Zid Pay account.

Signature Validation and Electronic Notices:

  • Agreeing to register an account with Zid Pay constitutes your electronic signature, and communication with us via the support email ([email protected]) constitutes an official notice equivalent to your personal signature.
  • You agree that the email used for account registration with Zid Pay is your official email, and all electronic communications received from this email address are equivalent to signed official documents.

Duration/Termination of the Contract:

  • The terms and conditions are valid as long as your activation of the Zid Pay service is active.
  • The contract with Zid Pay lasts one year from the date of receiving the electronic verification email and will renew automatically unless terminated by the user or Zid Pay.
  • Termination of the contract does not waive the user’s obligations regarding previous payment transactions.
  • If an account is opened with Zid Pay but the required information and documents are not provided within 14 days, the account will be automatically canceled, and the collected amounts will be refunded to the final customers.
  • Zid Pay may stop or cancel the account at any time and will send a letter to the registered email with the reasons. Such reasons may include increased operational risks, suspicious activities, prohibited or illegal actions, or changes in the operations or ownership structure of the user.

Limitation of Liability:

  • The merchant is solely responsible for the nature of the buyers or customers they deal with and agrees to only deal with legitimate customers.
  • The merchant is solely responsible for any payment transactions made on their account, whether incorrect or suspicious. Zid Pay will not be held liable for any payment that must be refunded to the source.
  • If the merchant is suspicious of any transaction, it is their responsibility to withhold the transaction until they communicate with the final customer and carry out the necessary investigations to ensure the legitimacy of the transaction.
  • The user is fully responsible for all invoices generated by their business and paid or pending payment by their customers through the use of Zid Pay services.

Force Majeure:

  • Zid Pay will not be held responsible for any loss or delay caused by fire, natural disasters, banking system failures, power outages, telecommunication issues, wars, strikes, riots, terrorist attacks, failure of merchants to perform, or any incidents or events beyond Zid Pay's control.