LakiPay Terms of Service

1.1 Agreement

This electronic Payment Gateway Provision Contract, including the Privacy Rules and System Rules available on https://lakipay.co, which the merchant accepts and agrees to follow.

1.2 AML (Anti-Money Laundering)

Internal and national laws, procedures, and working guidelines intended to prevent criminals from disguising illegally obtained proceeds as legitimate income.

1.3 Payment Gateway Services

Services offered by LakiPay that enable merchants to accept payments made with locally issued debit cards, international cards, mobile wallets, and other aggregated banking services, and to settle those funds to the merchant’s account.

1.4 Payments

Payments made by customers of the merchant for goods or services through digital means using the Platform.

1.5 Platform

The payment gateway infrastructure run, maintained, and updated by LakiPay.

1.6 Transaction Fees

Fees charged by LakiPay on each transaction processed through the Platform.

Failure to comply may result in suspension or indemnity obligations.

• 4.1 Operate and maintain the payment gateway while providing ongoing technical support.
• 4.2 Aggregate payments on your behalf and settle cleared funds to your designated account.
• 4.3 Implement reasonable security and compliance controls to protect data.
• 4.4 Suspend or terminate service in cases of fraud, compliance breaches, or on grounds of reasonable suspicion.
• 4.5 Update the system from time to time to meet product enhancement requirements.

• 6.1 Both parties must comply with applicable data security standards.
• 6.2 Confidential business information may only be disclosed when required by law or regulation.
• Refer to our Privacy Policy and System Rules for the binding privacy and system requirements incorporated into this Agreement.

7.1 The Platform may only be used for the business operations you disclosed when entering this Agreement. 7.2 The following harmful, deceptive, fraudulent, illegal, or unethical uses are strictly prohibited:

• 7.2.1 Drug trafficking or facilitation of controlled substances.
• 7.2.2 Illicit mineral sales or commerce involving conflict resources.
• 7.2.3 Dissemination of obscene video content or similarly objectionable media.

8.1 The merchant is responsible for chargebacks and must cooperate fully to resolve them with end users in line with its internal policies. 8.2 LakiPay does not interfere with your chargeback or refund decisions.

9. All LakiPay technology and trademarks remain our property. You may not use the branding or Platform components outside of this Agreement or for unrelated ventures without prior written permission.

• 10.1 Either party may terminate the Agreement with 30 days' written notice.
• 10.2 Immediate termination applies for breach, unlawful use, or whenever regulators demand it.
• 10.3 Disputes unresolved amicably will be resolved through arbitration under Ethiopian law.

• 11.1 You consent to provide personal or business data and authorize LakiPay to obtain information from public registries or third parties to complete your profile, perform due diligence, and undertake KYC checks. Data is processed according to applicable privacy laws with your explicit consent.
• 11.2–11.3 Both parties remain bound by Ethiopian laws, and you agree to keep all submitted information true, accurate, and current, cooperating whenever updates are requested.
• 11.4 LakiPay may abort or reject onboarding (or integration) if the KYC documentation is incomplete, suspicious, or unverifiable.

• 12(a) You are duly incorporated or established under Ethiopian law and have the power to own and operate your business.
• 12(b) You have full legal capacity and power to enter into, exercise rights under, and perform this Agreement.
• 12(c) Execution, delivery, and performance of these Terms have been authorized by the necessary corporate actions, including board resolutions or powers of attorney.

13. If LakiPay’s performance is prevented, restricted, delayed, or interfered with by labour disputes, strikes, acts of God, epidemics, pandemics, floods, lightning, severe weather, shortages of materials, rationing, malware, hacking, utility or communication failures, earthquakes, war, revolution, terrorism, civil commotion, acts of public enemies, blockades, embargoes, or any governmental orders or similar events beyond our reasonable control (as contemplated by the Ethiopian Civil Code), we are excused from performance for the duration of the force majeure event, and such non-performance will not constitute a breach.

This Agreement is governed by the laws of the Federal Democratic Republic of Ethiopia. Any conflict-of-law principles that would apply another jurisdiction's laws are expressly excluded.

15. This Agreement becomes binding on the Effective Date once it is signed or electronically accepted by authorized representatives of both parties. By acknowledging below, you confirm you have read these Terms, have the authority to bind your organization, and understand that your acceptance will be time-stamped for compliance purposes.