Zid Pay Terms and Conditions

Terms and Conditions:

The following terms and conditions represent the agreement between users of Zid Pay and Zid Company.

Definitions:

  • Zid Pay: A service enabling merchants to conduct e-commerce transactions through payment service providers on Zid's platform, referred to in these terms as ("Zid Pay" or "the service").
  • Service Activation: The process where the merchant requests to activate the Zid Pay service.
  • Merchant: A user subscribed to Zid Pay and owner of a store on Zid's platform.

General Conditions:

  • Only companies, institutions, individuals, and organizations authorized to conduct payment and financial transactions within their respective countries by official entities are eligible to use Zid Pay. Unauthorized individuals or entities are prohibited from using Zid Pay.
  • Sales transaction amounts processed via Zid Pay must align with the purpose stated on the invoice and be consistent with the merchant's licensed activities.
  • The trade name appearing on invoices must represent the merchant and their licensed activities.
  • Merchants must establish their stores in compliance with the terms of electronic payment services endorsed by Zid and meet all regulatory and legal requirements. Merchants alone are responsible for ensuring compliance.
  • Merchants agree that Zid Pay may request additional or updated information at any time, including but not limited to: proof of identity, business policies, financial details, licenses, invoices, delivery receipts, or other relevant information. Non-compliance in providing required details may result in service suspension or contract termination.
  • Merchants must notify Zid Pay of any changes in their business activities.
  • This agreement is governed by the laws of Saudi Arabia, and disputes arising between the merchant and Zid Pay fall under the jurisdiction of courts in Riyadh.
  • Zid Pay reserves the right to modify these terms and conditions at any time and will notify the merchant of such changes.
  • Merchants authorize Zid to execute payment processes on their behalf upon using the service.
  • If a merchant suspects unauthorized or incorrect payment transactions, they must notify Zid Pay immediately by submitting a ticket. Delay in reporting may result in lost opportunities for claim recovery. Zid Pay will make efforts to retrieve funds from incorrect recipients but does not guarantee success.
  • Any waiver of rights or obligations under these terms must be in writing and signed by the waiving party. Lack of enforcement does not constitute a waiver of rights.
  • Zid reserves the right to change merchant transaction fees at any time.
  • Zid Pay may suspend services if no activity occurs on the merchant account for six months. Merchants may request account reactivation by providing evidence justifying the inactivity.
  • Zid Pay reserves the right to suspend or continue suspending services temporarily if merchants fail to provide necessary documentation.
  • Merchants are prohibited from passing on cardholder-related taxes or fees, including VAT, by raising prices or other means.
  • Merchants may only use Zid Pay for purposes outlined in the service's terms and conditions.
  • Merchants acknowledge that Apple Pay transactions may lack 3D Secure protection with certain banks and payment systems.
  • Merchants are responsible for settling chargebacks and fraud claims deducted from Zid Pay, and Zid may directly deduct these amounts from the merchant's available balance.

Prohibited Activities:

Merchants must not use Zid Pay for prohibited activities or dealings, including:

  • Entities linked to criminal activities, drug trafficking, or terrorism.
  • Individuals or businesses unwilling to provide sufficient verification documents.
  • Activities involving cryptocurrency trading or illegal financial services.
  • Dealings with internationally sanctioned countries or entities.
  • Unlicensed or unverified businesses, digital products, and unauthorized charitable organizations.

Service Utilization:

Activation:

  • Merchants must provide accurate information to activate the service.
  • Merchants are solely responsible for ensuring product and store compliance.
  • Once Zid Pay is activated, other payment gateways in the store will be disabled.

Transaction Fees:

  • Zid Pay fees depend on the merchant's selected subscription package.
  • Fees include a percentage of successful transactions, with a maximum cap of SAR 200 for Mada network transactions.
  • Zid Pay reserves the right to adjust fees after notifying merchants.

Funds Collection:

  • Funds are collected three times per week if exceeding a minimum of SAR 100.
  • Riyad Bank clients are exempt from deposit fees.
  • Zid Pay may temporarily halt funds collection in cases of suspected violations or issues.

Liability:

  • Merchants are solely responsible for their clients' legitimacy and for addressing any incorrect or fraudulent payments.
  • Zid Pay assumes no responsibility for disputes or chargebacks, which are the merchant's liability.
  • Merchants must ensure that all invoices, receipts, and proof of delivery comply with Zid Pay's risk assessment requirements.

Privacy:

Zid Pay will protect merchants' data in accordance with its privacy policy and applicable regulations.

This agreement is governed by Saudi Arabia laws.