Terms of Service

1. Acceptance of Terms

By accessing or using iFin services — including our payment gateway, merchant account solutions, APIs, dashboards, and website — you agree to be bound by these Terms of Service. If you are using our services on behalf of a business entity, you represent that you have the authority to bind that entity to these terms.

If you do not agree with any part of these terms, you must discontinue use of our services immediately.

2. Service Description

iFin provides payment infrastructure services including but not limited to:

• Payment gateway connectivity for deposit and withdrawal processing
• Merchant account facilitation across multiple acquiring banks
• Multi-currency transaction processing and settlement
• Fraud detection and prevention tools
• Compliance and regulatory support frameworks
• Reporting, analytics, and operational dashboards

The specific services available to you depend on your merchant agreement, jurisdiction, and approved processing profile.

3. Eligibility and Onboarding

To use iFin services, you must:

• Be a legally registered business entity in your jurisdiction of operation
• Hold all necessary licences and regulatory approvals for your business activity
• Successfully complete our due diligence and onboarding process
• Provide accurate, complete, and current information during application and throughout the relationship
• Not be located in, or operating primarily from, sanctioned jurisdictions

We reserve the right to decline applications or terminate accounts that do not meet our compliance requirements.

4. Your Obligations

As a user of our services, you agree to:

• Use our services only for lawful purposes and in compliance with all applicable laws and regulations
• Maintain accurate and up-to-date business and contact information
• Implement appropriate security measures to protect API credentials and account access
• Promptly notify us of any unauthorised access or security breaches
• Not use our services for money laundering, terrorist financing, fraud, or any prohibited activity
• Comply with card network rules (Visa, Mastercard, and others) applicable to your transactions
• Maintain chargeback ratios within acceptable thresholds as defined in your merchant agreement
• Cooperate fully with any compliance reviews, audits, or investigations

5. Fees and Settlement

Fees for our services are outlined in your individual merchant agreement. General terms include:

• Transaction fees are deducted from settlement amounts unless otherwise agreed
• Settlement timelines are specified in your merchant agreement and depend on your risk profile and processing history
• We reserve the right to hold funds in reserve as a security measure where permitted by your agreement
• Currency conversion rates are applied at the time of settlement based on interbank rates plus any applicable margin
• Fee schedules may be updated with 30 days written notice

6. Chargebacks and Disputes

You are responsible for chargebacks and disputes initiated against transactions processed through your account. This includes:

• Responding to chargeback notifications within the timeframes specified by card networks
• Providing compelling evidence to contest illegitimate disputes
• Bearing the financial liability for chargebacks that are not successfully contested
• Paying any chargeback fees as specified in your merchant agreement

Excessive chargeback ratios may result in increased monitoring, additional reserves, or account termination in accordance with card network rules.

7. Suspension and Termination

We may suspend or terminate your access to services immediately if:

• You breach any material term of this agreement or your merchant agreement
• Your chargeback ratio exceeds card network thresholds
• We reasonably believe your account is being used for fraudulent or illegal activity
• Required by law, regulation, or instruction from acquiring banks or card networks
• You become insolvent, enter administration, or cease trading

Either party may terminate the agreement with 30 days written notice for any reason, subject to settlement of outstanding balances and obligations.

8. Intellectual Property

All content, technology, trademarks, and materials associated with iFin services remain our exclusive property. You are granted a limited, non-exclusive, non-transferable licence to use our APIs, documentation, and platform features solely for the purpose of receiving our services. You may not copy, modify, distribute, or reverse-engineer any part of our platform without written permission.

9. Limitation of Liability

To the maximum extent permitted by applicable law:

• Our total liability for any claim arising from these terms shall not exceed the fees paid by you in the 12 months preceding the claim
• We are not liable for indirect, incidental, consequential, or punitive damages, including lost profits or business interruption
• We are not liable for losses caused by acquiring bank decisions, card network actions, regulatory changes, or force majeure events
• We do not guarantee uninterrupted service, though we maintain a 99.7% uptime target

10. Indemnification

You agree to indemnify and hold iFin harmless from any claims, losses, damages, or expenses (including legal fees) arising from your use of our services, your breach of these terms, your violation of applicable laws, or disputes between you and your customers.

11. Confidentiality

Both parties agree to keep confidential any proprietary or sensitive information shared during the course of the business relationship. This includes transaction data, pricing terms, technical specifications, and business strategies. Confidentiality obligations survive termination of this agreement.

12. Modifications to Terms

We may modify these Terms of Service at any time. Material changes will be communicated via email or through your merchant dashboard at least 30 days before taking effect. Continued use of our services after the effective date constitutes acceptance of the updated terms.

13. Governing Law and Disputes

These terms are governed by the laws applicable in the jurisdiction specified in your merchant agreement. Any disputes arising from or relating to these terms shall first be addressed through good-faith negotiation. If negotiation fails, disputes shall be resolved through binding arbitration or the courts of competent jurisdiction as specified in your merchant agreement.

14. Severability

If any provision of these terms is found to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary, and the remaining provisions shall continue in full force and effect.

15. Contact

For questions about these Terms of Service, please visit our contact page.