iPay End User Agreement

This End User Agreement(Agreement) is entered between you and iPay (Pvt) Ltd (iPay). This Agreement is a legally binding contract between you and iPay, that sets forth the terms and conditions governed your usage of iPayBy registering an account with iPay or using any of the services, you agree that you have you read, understood and accept all the terms and conditions contained in this Agreement.    

 

"We, Us, OuriPay shall refers to iPay (Pvt) Ltd and any agent or an assignee iPay (Pvt) Ltd.  iPay shall means the iPay payment platform. "You, Your, customer and user" refers to the individual or entity that has agreed to use iPay payment system in accordance with this agreement.  

 

Hereinafter jointly called and referred to as the "Parties" and individually as "Party". 

  1. Scope of the Agreement 

iPay is an online payment platform that supports single or recurring payments via Internet. Users are able to pay their bills from accounts, send expedited payments, and make person-to-person electronic payments.  

 

User can accept this agreement bclicking "Accept / Agree to the Agreement", on the website for the service or via mobile application for the service and this shall create and represent a legally binding agreement between parties   

 

You agree that your usage of iPay will be governed by this agreement and any other regulations set forth by the Government of Sri Lanka. You will use iPay in accordance with all applicable laws and will not use iPay for any illegal or fraudulent purposes, or purposes that are prohibited. iPay is not intended for use by any person other than customers authorized to use the bank account pursuant to all agreements between you and the bank that maintains your bank accounts and for corporate customers; if you are not the authorized party to carry out transactions on the respective bank accounts, you may not use iPay. 

 

  1. Term 

The agreement will be effective from the date of acceptance by the client ("Effective date") and shall be inforce until it is terminated by either party.  

 

 

  1. Mode of Operation 

 

  1. To be eligible for the Services provided by iPay, the user must 

  1. be a resident of Sri Lanka and 

  1. has full legal capacity to enter into an agreement. 

User further, represents and warrants that the user is not acting on behalf of or for the benefit of anyone else unless in case of opening the account for and under the direction of the company, legal person or entity.   

  1. You are responsible for providing valid, complete and up-to-date information for all required elements on the registration and you are solely responsible for changing and updating the same without any delayiPay may request further information to be provided time to time and you shall be responsible for providing the same as requested.  

  1. We reserve the right to maintain your account registration information after you close your account for regulatory purposes and we guarantee that the information will not be utilized for any other purposes.  

  1. Use of iPay requires your device to have access to internet connection and all bill payment/s you make through iPay will be transacted through various service providers and you shall be responsible for any levies, charges or fees that can be imposed on those transactions by those service providers.   

  1. The customer shall bear complete responsibility for all payment instructions originated from their devices including any instructions that maybe generated as a result of viruses, spyware, social engineering or other malware or any other attack.   

  1. You acknowledge and agree that, debiting your designated account/s for your payment/s instructions  and crediting the payee account, may not always carried out simultaneously and that, certain instructions may be processed after a delay even though the service may be accessible at the time 

  1. Further, cancellation of the transactions and reversal of transactions shall take place through normal banking dispute resolution procedures and iPay shall not be held responsible or accountable for any such dispute.   

  1. iPay may introduce software updates or upgrades time to time and you acknowledge and agree that complying with such system requirements, which may be changed from time to time are solely your responsibilitySince the use of iPay involves hardware, software and internet access and applicable updates; your ability to use iPay may be affected by the performance of these factors. Further, iPay shall not be held responsible for any malfunctions of the software in an event the user failed to keep the software up to date. iPay expressly reserve the right to change, modify, update, remove, revise or otherwise change any portions of the iPay application at any time and in no event iPay shall be liable for any claims or damages caused by or arising out of such action.   

  1. iPay may occasionally restrict the functions of the application or completely make dysfunctional to allow for repairs or maintenance with prior notice and user hereby grant consent to receive notices, disclosures and other communications regarding iPay via email/SMS or any other communication method that you have requested.    

  1. For regulatory, risk and security purposes iPay may impose limitations on the maximum amount per transaction and number of transactions per day.  

  1. For your protection we are using, industry standard security mechanisms which will change from time to time reflecting the existing threat landscape 

  1. If the user willingly give the device, or disabled existing security mechanisms and give the phone to somebody else, and txns occur: user is responsible 

 

  1. Account Suspension and Closure 

iPay may, in our sole discretion, without any liability, refuse to let you open an account, suspend your account or terminate your account or restrict your usage of one or more of the services. 

Such actions may be taken as a result of account inactivity, failure to respond to customer support requests, failure to positively identify you or your violation of the terms of this agreement.  

You may terminate this agreement at any time by closing your account and discontinuing use of the services. Provided that, you shall be liable for all transactions made while the account was open.   

  1. Grant of License and Restrictions 

 

  1. iPay hereby grants You a non-exclusive, non-transferable, limited, personal and revocable right and license to access and use iPay for your personal use only. You acknowledge and agree that some of the functionalities or services offered by iPay may be provided by iPay™ affiliates or subcontractors on behalf of iPay. 

  1. You may not reverse-engineer, copy, decompile, disassemble, derive the source code of, modify, adapt, capture, reproduce, publicly display, publicly perform, transfer, sell, license, create derivative works from or based upon, republish, upload, edit, post, transmit, distribute, exploit, circumvent or otherwise translate (or encourage or assist any other person to do any of the foregoing) iPay in whole or in part. 

  1. You shall not interfere or attempt to interfere with the operation or use of iPay in any way through any means or device including, but not limited to, spamming, hacking, and uploading computer viruses or time bombs, or any other means. You may not use iPay for commercial purposes or for any purpose that is unlawful or prohibited by the iPay. You are specifically prohibited from using iPay in connection with any contents, services, programs or applications that (i) are in violation of any third party rights, including but not limited to intellectual property rights; or (ii) contain viruses or other harmful software, code or other malwares that impact or limit the functions or services provided by iPay or the mobile devices supporting iPay. 

  1. Limitation of Liability 

User understand and acknowledge the inherent risks in online transactions and agree that iPay shall not be liable or responsible for any termination, suspension or any damages caused what so ever due to user actual late payments or late payments due to internet connection failure or any other malfunctions in iPay system.    

  1. Security of User Information 

 

  1. You must register either your fingerprint image, retina image, password, PIN or any suitable, complex authentication mechanism available in your Device to prevent others from accessing or using the iPay application on your Device. You agree to keep Your authentication information confidential at all times. If you lose your Device or suspects of a possible third party activitythen You must take immediate steps to deactivate the iPay account vis web platform to prevent use of the iPay application by others. Failure to comply with such requests will result in iPay being held harmless in the event of unauthorized transactions being carried out through the iPay application on your device. 

  1. iPay is not bound to carry out the instructions given by the Customer, if iPay at its sole discretion believes that such instructions do not emanate from the Customer. 

  1. The Customer hereby agrees to accept full responsibility for all transactions processed from the use of the iPay application using the Customer mobile device, even if the instructions were not authorized by the Customer and to accept iPay™ record of transactions as conclusive and binding for all purposes. 

  1. We may ask you at any time to confirm that you comply with Anti-Money Laundering, Anti-Terrorist Financing and other similar acts or legislations mandated by the Government of Sri Lanka. Failure to comply with such requests may result in your iPay account being suspended. Application of iPay 

 

  1. Privacy 

 

  1. iPay may collect non-personal identification information about Customers whenever they use the facility,for give you a better user experience via iPay platform. . Non-personal identification information may include, but not be limited to, the browser name, transactional data, location data, the type of devices and technical information such as the operating system, the Internet service providers utilized and other similar information. 

  1. iPay may use any such information stored for several purposes, not limited to: processing transactions, administering accounts (which includes verifying personal information in order to safeguard data) and responding to complaints. 

  1. iPay may monitor usage of the application for security and improvement purposes. 

  1. . 

  1. iPay adopts appropriate data collection, storage and processing practices and have implemented reasonably adequate security measures and controls to protect such information against unauthorized access, alteration, disclosure or destruction. However, iPay shall be entitled to make any disclosure required by regulations set forth by the Central Bank of Sri Lanka and the legislature of the Democratic Socialist Republic of Sri Lanka, without prior or post notification to the Customer. 

 

  1. Disclaimer 

 

  1. Disclaimer of Warranties. To the extent permitted by law, iPay is provided "as is", "where is" and "as available" and without warranties of any kind. To the extent permitted by law, iPay and its licensors make no representations or warranties or guarantees of any kind or nature, whether express or implied, relating to iPay, and specifically disclaims all such warranties including, without limitation, any implied warranty of merchantability, fitness for a particular purpose and non-infringement. without limiting the previous disclaimer, To the extent permitted by law, iPay and its licensors do not represent, warrant or guarantee that the iPay application will (i) operate in an uninterrupted, timely, secure or error-free manner, (ii) always be available or free from all harmful components or errors or (iii) be secure against or immune from (including the content delivered to you or the information you provided) any unauthorized access. 

  1. Disclaimer of Certain Damages. IN NO EVENT SHALL iPay OR ITS LICENSORS BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, PUNITIVE DAMAGES OR LOST PROFITS, EVEN iPay HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS MEANS THAT YOU HEREBY WAIVE ANY AND ALL RIGHTS TO ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, PUNITIVE DAMAGES OR LOST PROFITS FROM iPay AND ITS LICENSORS. THIS LIMITATION AND WAIVER ALSO APPLIES TO ANY CLAIMS YOU MAY BRING AGAINST ANY OTHER PARTY TO THE EXTENT THAT iPay WOULD BE REQUIRED TO INDEMNIFY THAT PARTY FOR SUCH CLAIM. YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE OR LOSS IF YOU ALLOW ANYONE (SUCH AS ANOTHER USER OR A MERCHANT) TO USE OR HANDLE YOUR DEVICE AND/OR iPay APPLICATION. 

 

  1. Indemnification 

You agree to indemnify and hold iPay, its affiliates and service providers harmless from any claims or demands arising out of your breach of this agreement or violation of any Laws or regulations.  

  1. Miscellaneous  

Force Majeure:iPay shall have no liability for any failure or delay resulting from any condition beyond our reasonable control, including but not limited to governmental action or acts of terrorism, natural disasters or other acts of God and internet disturbances.  

Amendments: We may amend any portion of this agreement at any time by posting the revised version of this agreement with an updated revision date. The changes will become effective, and shall be deemed accepted by you. In the event that you do not agree with any such modification, you shall close your account and terminate this agreement. You agree that, we shall not liable to you or any third party for any losses cause due to such modification.  

Governing Law:Agreement shall be governed by the Laws of Sri Lanka.  

Security:15.Parties agree to comply with the security procedures and requirements described in this agreement and such other security procedures as determined by the parties time to time which are subject to change with prior notice to respective party 

Assignment:You may not transfer or assign this agreement or any right or obligations you have under this agreement. We reserve the right to assign or transfer our rights and obligations without prior notice.