TERMS & CONDITIONS

1. ACCOUNTS

a)

Registration and KYC Information Merchant.

To enable PAYOK to comply with anti-terrorism, financial services and other applicable laws and regulations and KYC (‘Know Your Customer’) requirements, the merchant/agent has to provide information about itself, its activities and its shareholders.


The merchant will provide PAYOK with at least three business days prior written notice of any change of the information regarding the KYC requirements.The merchant will, on the first request from PAYOK provide such additional information and supporting documentation regarding its identity and that of its shareholders and activities as PAYOK may reasonably determine to need to ensure compliance with applicable laws and regulations and Acquirer KYC requirements.The merchant agrees that PAYOK may run further checks on the merchant’s identity, creditworthiness and background by contacting and consulting relevant registries and government authorities.


PAYOK’s acceptance of the merchant as user of the services and the relevant payment methods is strictly personal and limited to the use by the merchant of the Services for payment of the merchant’s own products and services. The merchant may not use the services to facilitate the payment for products or services sold by third parties and therefore may not resell the services to third parties.


Terms and Conditions

2. RECEIVING FUNDS

a)

Risk of Reversals, Charge backs and Claims

When the merchant receives a payment, the merchant is liable to PAYOK for the full amount of the payment sent to the merchant plus any Fees if the payment is later invalidated for any reason. This means that, in addition to any other liability, the merchant will be responsible for the amount of the payment sent by the sender . The merchant hereby undertakes to allow PAYOK to recover any amounts due to PAYOK by means of debit from the merchant’s balance. If there are insufficient funds in the Balance to cover the merchant’s liability, the merchant hereby agrees to reimburse PAYOK through other means. If a payee files a card chargeback, the card issuer, not PAYOK, shall determine who wins the chargeback.


b)

Refund Policy and Privacy Policy

PAYOK requires that the merchant has a published refund policy and a published privacy policy on the website. The merchant must provide reimbursement if services or goods cannot be provided to the customer for any reason outside their reasonable control. A refund will only be initiated if PAYOK has sufficient evidence in its possession that proves a transaction was based on fraud or misrepresentation and the client has acted in good faith. A refund will be processed once the necessary investigation is concluded by the relevant authorities.


3. SETTLEMENTS

a)

PAYOK will settle to the merchants account balance according to the agreed time, fees owed by the merchant to PAYOK, will be deducted from such funds.


b)

The related Exchange Rate for each settlement transaction is according to the data provided by banks which are in recharge for currency remittance.


4. MERCHANT’S LIABILITY

4.1

General: The merchant is responsible for all refunds, charge backs, claims, fees, fines, penalties and other liabilities incurred by PAYOK, a User, or a third party, that is caused by or arising out of the merchant’s breach. The Merchant undertakes to reimburse PAYOK, a user, or a third party for any and all such liabilities. PAYOK will promptly notify you of any such liabilities and, unless such liabilities are disputed by you. Additionally, PAYOK can withhold funds from your balance at any time to provide for these liabilities.


4.2

Payments on Demand: PAYOK payment shall only be used for commercialization of products or services. The merchant is responsible for the products and services commercialized using PAYOK payment methods. Therefore, the merchant shall be responsible for any liability arising out of such products and services. Furthermore, the merchant hereby represents that all products and services commercialized using PAYOK payment methods will be in accordance with applicable legislation and PAYOK’s compliance policy. Furthermore, the merchant represents to understand that in no event shall PAYOK’s payment methods be used for illegal purposes, and a breach of this provision may be cause for a criminal complaint and will be handled by the competent authorities.


5. RESTRICTED ACTIVITIES

a)

If PAYOK, at its sole discretion, believes that the merchant may has engaged in any restricted activities, PAYOK may take various actions to protect PAYOK, other Users and third parties, from Reversals, Chargebacks, Claims, fees, fines, penalties and any other liabilities. The merchant and aggregator hereby authorize PAYOK to report to the local authorities that their respective merchant account/s be immediately frozen if it is discovered that the merchant or aggregator is utilizing PAYOK’s payment gateway services on other platforms, without having the required written consent from PAYOK.


b)

Account Closure, Termination of Service, Limited Account Access, Confidential Criteria.

If PAYOK closes the merchant’s account or terminate the merchant’s use of PAYOK’ s Services for any reason, PAYOK will notify the merchant of PAYOK’s actions. Furthemorer, the merchant represents to acknowledge that PAYOK’s decision to take certain actions, including limiting access to the merchant’s Account by placing holds or imposing Reserves, may be based on confidential criteria that are essential to PAYOK’s management of risks and to the security of the Users’ Accounts and the PAYOK’s system itself. The merchant hereby agrees that PAYOK has no obligation to disclose the details of its risk management policies or security procedures to the merchant.


6. APPLICABLE LAW

The laws of the United Arab Emirates shall govern all business related activities concluded by Payok.


7. PAYOK Logo Usage Policy

7.1

Introduction:

The PAYOK logo is one such asset, which depicts the corporate identity, the core values, and the services being rendered. This policy on Logo Usage provides the procedures on how the PAYOK logo should be applied in order to protect the logo and enhance its consistent use among all the intended users.


This policy stands to protect and manage correct and economical national marketing of the PAYOK icon based on the usage of the PAYOK logo and other marketing strategies where applicable.


7.2

Scope

This policy guides all staff members, independent agents, and other individuals who seek to goose-up the PAYOK logo in an electronic, paper, or merchandising and marketing form.


7.3

Logo Usage Guidelines:

Authorized Users:

The PAYOK logo shall solely be launched by the officially sanctioned person or organization. These include:

a)

PAYOK employed a workforce and subcontracted personnel

b)

Cast marketing and sponsorship partner

c)

Incorporations entitled to authorize resellers and distributors.


Unauthorized Use:

Unauthorized use of the PAYOK logo is strictly prohibited and may lead to legal consequences. The logo is a registered trademark of PAYOK and is protected under intellectual property laws.


Any reproduction, modification, or distribution of the logo without prior written consent from PAYOK is not allowed. This includes but is not limited to use on websites, social media platforms, marketing materials, merchandise, and any other form of communication.


8. PAYOK CUSTOMER SERVICE

These terms and conditions are part of and complemented by our service usage policies. If you have any queries that relates to PAYOK, then you can contact us via email at: enquire@payok.com.