Lifti Pay Terms of Service
1. User Obligations
(i) The user agrees not to use Lifti Pay’s and/or Payment Schemes’ 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 Lifti Pay and/or Payment Schemes’ Platform to be subject to investigation, prosecution, or legal action.
(ii) Use Bank Account/Card information conveyed to Lifti Pay by Merchant’s software, designed to access the Lifti Pay and/or Payment Schemes’ 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.
(iii) Use the Lifti Pay and/or Payment Schemes’ Platform in accordance with the terms and conditions stipulated by the Lifti Pay and/or Payment Schemes’ Platform from time to time and not to attempt to modify, translate, disassemble, decompile, or reverse engineer the Lifti Pay and/or Payment Schemes’ Platform, or use it for any purpose other than for the utilization of the Lifti Pay and/or Payment Schemes’ Platform without the prior express written consent of Lifti Pay.
(iv) To comply with Lifti Pay’s “know your customer” (KYC) requirement and to provide all the correct information about itself.
(v) To provide an account maintenance certificate (Required for Payment Schemes Services only).
2. Merchant Obligations
(i) Merchant shall at all times comply with applicable laws, rules, and regulations in so far as relevant to its use of the Lifti Pay’s and/or Payment Schemes’ Platform.
(ii) 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.
(iii) Merchant shall not accept payment from a Customer to re-finance an existing debt.
(iv) Merchant must ensure that the extraction of data from the Payment Instrument is in the manner specified by Lifti Pay.
(v) Merchant, in handling Transactions via Lifti Pay and/or Payment Schemes’ Platform and/or 1LINK Member Banks, must deliver a digital or paper copy bill to the Customer mentioning the Transaction Amount.
(vi) 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.
(vii) Merchant hereby grants Lifti 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 Lifti Pay Platform’s marketing of the Payment Aggregation Service.
(viii) The Merchant irrevocably authorizes Lifti Pay to include its name in any directory or promotional material produced in connection with the acceptance of Lifti Pay.
(ix) Merchant shall observe all security measures on their Website and/or Mobile Application as may be prescribed by the Payment Schemes, 1LINK, and/or Lifti Pay with respect to the acceptance of any Bank Account/Card for payment of any Electronic Transaction.
(x) Merchant shall comply with all instructions, provided in writing (in digital or physical copy), whatsoever given to Merchant by Lifti Pay in relation to payments collected against any Electronic Transactions.
(xi) 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. 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.
(xii) The merchant agrees to provide accurate and truthful information during the ownership verification process. In the event of falsified information, a penalty of PKR 3,000 will be charged, and it may lead to the suspension of the merchant’s account.
3. Transaction & Settlement
(i) Subject to the terms of this Agreement, Lifti Pay, in its capacity as a Payment Aggregator & an Acquirer/Platform Provider, shall ensure that the merchant gets settled within one (1) Banking Day in case of Account-Based (Push) Payments and/or Account Pull Payments and at least five (5) Banking Days in case of Payment Schemes-based payments unless in case of unforeseen circumstances, the merchant would be informed of the reason for the delay.