Terms and Conditions

Version 1
CashForo LTD

These Terms and Conditions ("Agreement") govern the use of services provided by CashForo LTD, a company registered under the laws of the Republic of Cyprus, with its registered office at Griva Digeni, 81, Marinos Court, 1&2th floor, 6043, Larnaca, Cyprus (hereinafter referred to as "Company", "we", "us", or "our").

By accessing or using our payment gateway services, you ("Merchant", "you", or "your") agree to the following Terms and Conditions.

1. Definitions

Service – the online payment gateway and payment processing services provided by the Company.

Merchant – a business or individual using the Service to accept payments from its customers.

Customer / End User – an individual making a payment to the Merchant using the Company's Service.

Transaction – a payment, refund, or charge processed using the Company's platform.

Chargeback – a reversal of a payment initiated by a Customer or their bank.

Payout – the transfer of cleared funds from the Company to the Merchant after a successful transaction.

2. Legal Compliance (Cyprus and EU)

2.1. The Company is licensed and operates in accordance with the laws of the Republic of Cyprus, including but not limited to the Cyprus Electronic Money and Payment Services Law, AML directives, and GDPR.

2.2. The Company adheres to EU regulatory standards for payment institutions and may be supervised by the Central Bank of Cyprus or relevant financial supervisory authorities depending on the scope of services.

2.3. Merchants are responsible for ensuring that their activities using the Service are compliant with all applicable laws in their own jurisdiction and that they do not use the Service for illegal purposes.

3. Use of the Service

3.1. The Company grants you a limited, non-transferable, and revocable license to use the Service for commercial purposes only.

3.2. You agree not to:

Misrepresent your business or transaction details;

Engage in fraudulent or high-risk activities without disclosure and approval;

Use the Service for personal payments without a commercial agreement.

4. KYC / AML Compliance

4.1. The Merchant agrees to provide all documentation and information required under Anti-Money Laundering (AML) laws, including but not limited to:

Company registration documents;

Identification of directors/owners;

Business model overview;

Transaction history and expected volumes.

4.2. The Company reserves the right to freeze or terminate your account if it detects suspicious activity, fails to verify identity, or if required by law enforcement or regulatory authorities.

5. Fees and Settlements

5.1. Fees are set forth in the Merchant Agreement or pricing schedule provided during onboarding.

5.2. The Company will transfer payouts to the Merchant's nominated bank account, net of applicable fees, chargebacks, or rolling reserves if agreed.

5.3. Payout frequency and currency may depend on risk assessment, jurisdiction, and banking capabilities.

6. Data Protection (GDPR)

6.1. The Company and the Merchant agree to comply with the General Data Protection Regulation (EU) 2016/679.

6.2. The Merchant is considered a Data Controller of Customer data. The Company acts as a Data Processor.

6.3. The Company shall:

Process data only on documented instructions from the Merchant;

Implement appropriate technical and organizational measures to ensure data security;

Notify the Merchant of any data breach without undue delay.

7. Intellectual Property

7.1. All software, interfaces, and related content provided by the Company remain its exclusive intellectual property.

7.2. The Merchant may not copy, reverse-engineer, or sublicense any part of the Service.

8. Limitation of Liability

8.1. The Company shall not be liable for:

Indirect or consequential damages;

Delays due to third-party service providers or banking partners;

Failures resulting from the Merchant's misuse of the platform.

8.2. Maximum liability shall not exceed the total service fees paid by the Merchant in the preceding 90 days.

9. Termination

9.1. Either Party may terminate this Agreement with 30 days' written notice.

9.2. The Company may suspend or terminate your account immediately for:

Breach of contract;

Regulatory risk;

Fraud, misuse, or security threat.

10. Governing Law and Jurisdiction

10.1. This Agreement shall be governed by and construed in accordance with the laws of the Republic of Cyprus.

10.2. Any disputes shall be subject to the exclusive jurisdiction of the courts of Cyprus.

11. Amendments

The Company reserves the right to update or modify these Terms at any time. Notice will be provided via email or through the Merchant dashboard. Continued use of the Service constitutes acceptance of the updated Terms.