Terms & Conditions

1. User Obligations

a) The user agrees not to use Panda Pay Platform in any manner and/or in furtherance of any activity which constitutes a violation of any law or regulation, or which may result in fraud on any person or which may cause Panda Pay and/or its Platform to be subject to investigation, prosecution or legal action.

b) Use Bank Account/Card information conveyed to Panda Pay by Merchant’s software, designed to access the Panda Pay Platform, only for the purpose of completing the Transactions for which it was furnished, and not to sell or otherwise furnish such information to others, unless the Merchant has an independent source of such information.

c) Use the Panda Pay Platform in accordance with the terms and conditions stipulated by the Panda Pay Platform from time to time and not to attempt to modify, translate, disassemble, decompile or reverse engineer the Panda Pay Platform, or use it for any purpose other than for the utilization of the Panda Pay Platform without the prior express written consent of Panda Pay.

d) To comply with Panda Pay’s “know your customer” (KYC) requirement and to provide all the correct information about itself.

2. Merchant Obligations

a) Merchant shall at all times comply with applicable laws, rules and regulations insofar as relevant to its use of the Panda Pay Platform.

b) Merchant shall not process or deposit Transactions with the Acquirer/Platform Provider for any other merchant establishment who may or may not be a Merchant.

c) Merchant shall not accept payment from a Customer to re-finance an existing debt.

d) Merchant must ensure that the extraction of data from the Payment Instrument must be in the manner specified by Panda Pay.

e) Merchant in handling Transactions via Panda Pay Platform must deliver a digital or paper copy bill to the Customer mentioning the Transaction Amount.

f) Merchant shall not require any customer to pay any surcharge, to pay any part of the discount whether through any increase in price or otherwise, or to pay any contemporaneous finance charge in connection with the Transaction in which a Payment Instrument is used.

g) Merchant hereby grants Panda Pay a non-exclusive, royalty-free limited license to use, display and reproduce the trademarks, service marks and logos of the Merchant solely in connection with the Panda Pay Platform’s marketing of the Payment Aggregation Service.

h) The Merchant irrevocably authorizes Panda Pay to include its name in any directory or promotional material produced in connection with the acceptance of Panda Pay.

i) Merchant shall observe all security measures on their Website and/or Mobile Application as may be prescribed by Panda Pay or its service providers with respect to the acceptance of any mobile wallet, Bank Account/Card for payment of any Electronic Transaction emanating therefrom.

j) Merchant shall comply with all instructions, provided in writing (in digital or physical copy), whatsoever given to Merchant by Panda Pay in relation to payments collected against any Electronic Transactions carried out in pursuance to any payment instructions.

k) In case of dispute, chargeback, retrieval, and/or fraudulent activity including any act of theft or card skimming, the Acquirer/Platform Provider reserves the right to refund the Accountholder/Cardholder using the merchant’s funds available with the Acquirer/Platform Provider irrespective of the order and/or transaction against which the funds were received by the Acquirer/Platform Provider and in case of non-availability of funds, the Acquirer/Platform Provider reserves the right to recover the funds from the merchant either in good faith or by legal means.

l) The merchant agrees to provide accurate and truthful information during the ownership verification process. In the event of falsified information, a penalty of will be charged, and it may lead to the suspension of the merchant’s account.

3. Transaction & Settlement

a) Subject to the terms of this Agreement, Panda Pay, in its capacity as a Payment Aggregator & an Acquirer/Platform Provider, shall ensure that the merchant gets settled within the agreed settlement time unless in case of unforeseen circumstances, the merchant would be informed the reason for the delay in writing or picture form, orally, machine readable form, whether analogue, digital or electronic, or through access to the Disclosing Party’s premises.

b) That the Transaction information relates to a genuine Transaction in compliance with this Agreement.

c) Merchant shall retain any relevant correspondence relating to an E-Transaction including a Sales Record, for a minimum period of five (5) years from the date of Authorization.

4. General Obligations

a) All General Rules, Service Provider’s Policies, including any reflected in this Agreement provided to the merchant from time to time or made publicly available by Panda Pay.

b) All applicable laws, including those requirements which apply to the sale of Products and/or Services by Merchant in connection with the electronic transactions along with the execution and performance of your obligations in good faith by you under this Agreement; and State Bank of Pakistan.

c) Merchant’s obligations relating to the sale and/or provision of products and/or services by Merchant to its Customers.

5. Accepting Payments from Buyers for Goods & Services

a) Merchant to only accept payments from and/or make reversals to customers in connection with products and/or services which Merchant has sold and/or provided as principal to those customers and only pay such reversals to the customer using the payment method used by the customer for the original electronic transaction.

b) Only accept payments and/or make reversals in respect of products and/or services which Merchant has sold and/or provided of which commonly falls within Merchant’s business as identified to Panda Pay.

c) Notify Panda Pay in writing or in an electronic format (Email) before Merchant makes any change to the nature of the products and/or services which Merchant intends to sale and/or provide of which fall within merchant’s business as identified to Panda Pay.

d) Notify Panda Pay in writing of the URL of any website where Merchant accepts or states that Merchant will accept payments by Digital Banking Channels using the Online Payment Solution (such notification is to be made to Panda Pay before the Merchant accepts any such payment).

e) Only accept payments and submit data to Panda Pay in respect to Electronic Transactions which a customer had authorized in accordance with applicable law, this Agreement, Acquirer/Platform Provider’s Policies and any other information or instructions provided by Panda Pay.

f) Refrain from doing anything which Panda Pay reasonably believes to be disreputable or capable of damaging the reputation or goodwill of Panda Pay.

g) Except as provided, Merchant indemnifies Panda Pay and its agents, representatives, and employees from all obligations of Merchant towards their Customers for the purposes of the Agreement insofar that such obligations may adversely affect, cause economic loss or may result in any proceedings, claims, or actions against Panda Pay. Merchant understands and agrees that Panda Pay is merely providing Online Payment Solution for Merchant and Merchant fully agrees to completely indemnify and hold harmless Panda Pay of the law and in relation to any consequence arising thereof.

6. Disputes

a) In the event of any “Dispute” between Merchant and a User/Customer whether in relation to any deficient, improper or incomplete product and/or service provided by Merchant or otherwise, Panda Pay shall not be impleaded as a party to any litigation, arbitration or other proceeding instituted in respect of such disputes and shall be indemnified and held harmless with respect to all consequences arising as a result of any such proceedings.

b) Merchant will not refuse the return of goods or cancellation of services because they were originally purchased using electronic means of a mobile wallet or Bank Account/Card.

7. Refunds & Chargebacks

a) In the event of the return of goods or cancellation of services Merchant will electronically refund Accountholder/Cardholder for the net amount of the relevant E-Transaction after deducting the applicable cancellation charges.

b) Merchant shall retain any relevant correspondence relating to an E-Transaction including a Sales Record, for a minimum period of five (5) years from the date of Authorization.

c) Acquirer/Platform Provider reserves the right to withhold payment to Merchant in connection with an E-Transaction or may recover an amount paid into Merchant’s Account, in any of the following circumstances:

i. Authorization for an E-Transaction is not obtained in accordance with terms set out in the Agreement; ii. E-Transaction data is issued or presented in breach of the Agreement (which may include any operating instruction or procedure guide supplied to Merchant from time to time); iii. Merchant fails to produce to the Acquirer/Platform Provider within seven (07) Banking Days of request, any E-Transaction information required including, for example, the evidence of the delivery confirmation of goods and services; iv. Merchant Account is credited more than once for the same E-Transaction; v. Merchant has processed multiple transactions for the same accountholder/cardholder or has split a single particular sale for the purpose of authorization; vi. There is any fraudulent activity performed through E-Transaction and investigations are under process and vii. Withhold payment instructions from the Acquirer/Platform Provider or any International or Local Regulatory Body or Investigation Agency or Court of Law.

d) In case of dispute, chargeback, retrieval and/or fraudulent activity including any act of theft or card skimming, Acquirer/Platform Provider reserves the right to refund the Accountholder/Cardholder using the merchant’s funds available with the Acquirer/Platform Provider irrespective of the order and/or transaction against which the funds were received by the Acquirer/Platform Provider and in case of non-availability of funds, the Acquirer/Platform Provider reserves the right to recover the funds from the merchant either in good faith or by legal means.

e) Once the chargeback has been incurred by Panda Pay the same will be intimated to the merchant and the merchant will be liable to pay a financial service charge equivalent to the % MDR + tax per chargeback of the original transaction. This amount will be adjusted against the merchant’s settlement (payment) or can be paid directly to Panda Pay via cheque or Bank Transfer