Terms & Conditions

Created by: PAYD Technologies FZ-LLC, Umm Al Quwain, King Faisal Street, Al Masa 3 office 103.

Governing laws are per UAE laws applicable to all merchants.

1. Introduction

These Terms and Conditions constitute a legal agreement (“Agreement”) between the Merchant, Payd Payments Inc. (“Payd”), a payment processor, and financial institutions involved in processing transactions.

2. Payment Services

Payd offers payment processing services for internet-based (CNP) and in-person (POS) transactions. Merchants must comply with software updates to continue using the service.

3. Handling of Funds

Payd holds and disburses funds to merchants once transactions are settled. Merchants are not entitled to interest on funds held during the settlement period.

4. Fees, Taxes, and Payouts

Service fees are applied per the Fee Schedule. Merchants are responsible for any taxes on their transactions and will receive payouts within 1-2 days unless delayed by chargebacks or disputes.

5. Chargebacks and Disputes

Merchants bear the responsibility for chargebacks and refunds. Excessive chargebacks may result in fees, restricted services, or account suspension.

6. Security and Privacy

Payd applies industry-standard security measures but cannot guarantee against all risks. Merchants must comply with data privacy laws and disclose any data transfers outside of the UAE.

7. Prohibited Activities

The service prohibits certain business activities, including illegal goods, gambling, adult services, and unlicensed financial services.

8. Termination and Suspension

Either party may terminate the agreement. Obligations related to unsettled transactions or chargebacks remain after termination.

9. Liability and Indemnification

Merchants are responsible for disputes and claims related to their transactions. Payd disclaims liability for indirect losses, including lost profits.

10. Governing Law and Disputes

This agreement is governed by UAE law, and disputes will be resolved under UAE jurisdiction.