Payment Gateway Agreement

Terms of Service

This Agreement governs your access to LakiPay's payment gateway services in Ethiopia. Use of the Platform constitutes agreement to the Privacy Policy and System Rules incorporated by reference.

Effective date: December 1, 2024Last updated: December 1, 2024

1. Definitions

Key terms referenced in this Agreement.

1.1 Agreement: This electronic Payment Gateway Provision Contract, including the Privacy Rules and System Rules available on https://lakipay.co, which the merchant accepts and agrees to follow.
1.2 AML (Anti-Money Laundering): Internal and national laws, procedures, and working guidelines intended to prevent criminals from disguising illegally obtained proceeds as legitimate income.
1.3 Payment Gateway Services: Services offered by LakiPay that enable merchants to accept payments made with locally issued debit cards, international cards, mobile wallets, and other aggregated banking services, and to settle those funds to the merchant’s account.
1.4 Payments: Payments made by customers of the merchant for goods or services through digital means using the Platform.
1.5 Platform: The payment gateway infrastructure run, maintained, and updated by LakiPay.
1.6 Transaction Fees: Fees charged by LakiPay on each transaction processed through the Platform.

2. Service Scope

2.1 Our Platform enables you to receive customer payments securely.

2.2 LakiPay collects payments made to you and settles the funds into your preferred merchant accounts.

2.3 By signing up for or using the Platform you agree to these Terms and any updates we publish.

3. Merchant Responsibilities

Failure to comply may result in suspension or indemnity obligations.

3.1 Use approved acceptance methods

Place QR codes, payment terminals, or checkout widgets as instructed and keep them visible to customers.

3.2 Authorize only legitimate payments

Process transactions that customers have approved and that relate to lawful goods or services.

3.3 Do not tamper with LakiPay tech

Avoid altering hardware, SDKs, API payloads, or security controls embedded in the platform.

3.4 Issue compliant receipts

Provide proof of payment in line with Ethiopian tax and consumer protection requirements.

3.5 Report security incidents immediately

Notify LakiPay of suspected fraud, breaches, or credential exposure without delay.

3.6 Support risk investigations

Cooperate with fraud, chargeback, or AML reviews and share evidence upon request.

3.7 Restrict dashboard access

Grant analytics or payout access only to authorized staff and keep logs up to date.

3.8 Indemnify for violations

Cover losses, costs, or third-party claims that result from your misuse of credentials or breach of this Agreement.

4. LakiPay Rights & Obligations

4.1 Operate and maintain the payment gateway while providing ongoing technical support.
4.2 Aggregate payments on your behalf and settle cleared funds to your designated account.
4.3 Implement reasonable security and compliance controls to protect data.
4.4 Suspend or terminate service in cases of fraud, compliance breaches, or on grounds of reasonable suspicion.
4.5 Update the system from time to time to meet product enhancement requirements.

5. Fees & Charges

Standard pricing

2.75%

Per successful transaction. Settlement fees as published from time to time.

5.1 Fees are charged according to the manner, rate, and frequency determined by LakiPay and may change at its discretion.
5.3 We provide 30 days' notice before fee updates; you may terminate if you disagree with new pricing.
5.4 Transaction fees exclude government taxes and third-party claims, which are borne by the merchant.

6. Data Security & Confidentiality

6.1 Both parties must comply with applicable data security standards.
6.2 Confidential business information may only be disclosed when required by law or regulation.
6.3 Refer to our Privacy Policy and System Rules for binding privacy and system requirements incorporated into this Agreement.

7. Acceptable Use Policy

7.1 The Platform may only be used for the business operations you disclosed when entering this Agreement. 7.2 The following harmful, deceptive, fraudulent, illegal, or unethical uses are strictly prohibited:

7.2.1 Drug trafficking or facilitation of controlled substances.
7.2.2 Illicit mineral sales or commerce involving conflict resources.
7.2.3 Dissemination of obscene video content or similarly objectionable media.

8. Chargebacks & Refunds

8.1 The merchant is responsible for chargebacks and must cooperate fully to resolve them with end users in line with its internal policies. 8.2 LakiPay does not interfere with your chargeback or refund decisions.

9. Intellectual Property

9. All LakiPay technology and trademarks remain our property. You may not use the branding or Platform components outside of this Agreement or for unrelated ventures without prior written permission.

10. Termination & Dispute Resolution

10.1 Either party may terminate the Agreement with 30 days' written notice.
10.2 Immediate termination applies for breach, unlawful use, or whenever regulators demand it.
10.3 Disputes unresolved amicably will be resolved through arbitration under Ethiopian law.

11. KYC & Legal Compliance

11.1 You consent to provide personal or business data and authorize LakiPay to obtain information from public registries or third parties to complete your profile, perform due diligence, and undertake KYC checks. Data is processed according to applicable privacy laws with your explicit consent.
11.2–11.3 Both parties remain bound by Ethiopian laws, and you agree to keep all submitted information true, accurate, and current, cooperating whenever updates are requested.
11.4 LakiPay may abort or reject onboarding (or integration) if the KYC documentation is incomplete, suspicious, or unverifiable.

12. Merchant Warranties

12(a) You are duly incorporated or established under Ethiopian law and have the power to own and operate your business.
12(b) You have full legal capacity and power to enter into, exercise rights under, and perform this Agreement.
12(c) Execution, delivery, and performance of these Terms have been authorized by the necessary corporate actions, including board resolutions or powers of attorney.

13. Force Majeure

13. If LakiPay’s performance is prevented, restricted, delayed, or interfered with by labour disputes, strikes, acts of God, epidemics, pandemics, floods, lightning, severe weather, shortages of materials, rationing, malware, hacking, utility or communication failures, earthquakes, war, revolution, terrorism, civil commotion, acts of public enemies, blockades, embargoes, or any governmental orders or similar events beyond our reasonable control (as contemplated by the Ethiopian Civil Code), we are excused from performance for the duration of the force majeure event, and such non-performance will not constitute a breach.

14. Governing Law

This Agreement is governed by the laws of the Federal Democratic Republic of Ethiopia. Any conflict-of-law principles that would apply another jurisdiction's laws are expressly excluded.

15. Effective Date & Acceptance

This Agreement becomes binding on the Effective Date when it is signed or electronically accepted through LakiPay's merchant onboarding or integration flows by authorized representatives of both parties. Continued use of the Platform after notice of updates constitutes acceptance of revised Terms where permitted by law.