Terms and Conditions – RASEDI Payment Provider
Effective Date: 15 March 2026
Last Updated: 15 March 2026
These Terms and Conditions (“Terms”) govern the use of the RASEDI Payment Provider and all related services, including APIs, dashboards, payment links, hosted checkout pages, and integrations such as the Odoo app (collectively, the “Services”). The Services are provided by RASEDI (“RASEDI”, “we”, “us”, or “our”). By creating a RASEDI account, installing or enabling the RASEDI Payment Provider or submitting any transaction through the Services, you (“Merchant”, “you” or “your”) agree to be bound by these Terms. If you do not agree to these Terms, you must not use the Services.
1. Eligibility and Merchant Account
To use the Services, you must have full legal capacity under applicable law, hold a valid commercial registration where required, and be authorized to enter into binding agreements on behalf of the business entity that will use the Services. You confirm that all information you provide to RASEDI, including business registration documents, contact details, bank information and KYC documentation, is accurate, complete and up to date, and you agree to promptly notify RASEDI of any changes. RASEDI reserves the right to reject any application, suspend an account or terminate access to the Services at its sole discretion, including where information provided is false, incomplete, misleading, or where we reasonably believe that your activities present an unacceptable risk, violate applicable law or could damage our reputation or that of our partners.
2. Scope of Services
RASEDI provides an infrastructure layer that enables Merchants to accept and manage electronic payments from their customers through various channels and payment methods. The Services may include the creation and management of payment links, the processing of card, wallet, bank and other local payment transactions, the provision of dashboards and reports, the management of merchant and sub‑merchant hierarchies, and the provision of APIs and SDKs for technical integration. RASEDI does not supply the goods or services that your customers purchase from you and does not become a party to any underlying sale or service agreement between you and your customers. You remain solely responsible for the products and services you offer, for customer service, for the fulfillment of orders and for compliance with any consumer‑protection obligations.
3. Use of the Services
You agree to use the Services only for lawful business purposes and in accordance with these Terms and all applicable laws, regulations and regulatory guidelines, including those issued by the Central Bank of Iraq and any other competent authorities. You must not use the Services to process payments that are illegal, fraudulent or related to prohibited activities, including but not limited to money laundering, terrorism financing or the sale of prohibited goods and services. You must implement appropriate internal controls and security measures to protect access to your RASEDI account, dashboards, APIs, payment credentials and customer data, and you are responsible for all activities carried out under your account, whether authorized by you or not. If you become aware of any unauthorized use or security breach, you must notify RASEDI immediately.
4. Relationship with Financial Institutions and Third Parties
In order to provide the Services, RASEDI cooperates with banks, card schemes, digital wallet providers, payment processors and other financial institutions and service providers. You acknowledge that the authorization, clearing and settlement of payment transactions may be subject to the rules and requirements of these entities and that RASEDI itself is subject to regulatory supervision. RASEDI may modify, suspend or discontinue certain payment methods or features where required by its partners, regulators or risk policies. You authorize RASEDI and its partners to receive, hold and disburse funds on your behalf for the purpose of processing and settling transactions and related adjustments such as refunds and chargebacks. RASEDI does not act as a bank or as a trustee; any funds held are held for operational settlement purposes and not as a deposit.
5. Fees and Settlement
You agree to pay all fees and charges associated with your use of the Services, as communicated to you in the applicable fee schedule or commercial agreement. Fees may include transaction fees, monthly or annual service fees, chargeback fees and other charges. Unless otherwise agreed in writing, RASEDI may deduct all applicable fees and adjustments from transaction amounts prior to settlement to your designated bank account. Settlement timelines may vary depending on the payment method, the risk profile of your business, regulatory requirements and banking cut‑off times. RASEDI may, at its discretion, delay settlements, withhold funds or establish reserves where we reasonably believe there is a risk of chargebacks, fraud, non‑compliance, insolvency or other exposure. You remain liable for all chargebacks, reversals, refunds and any associated fines or fees imposed by financial institutions or regulators.
6. Refunds, Chargebacks and Disputes
You are solely responsible for establishing and communicating your refund and cancellation policies to your customers and for processing refunds through the Services in a timely manner. If a cardholder or payer disputes a transaction or initiates a chargeback, the case will be handled in accordance with the rules of the relevant card scheme, bank or payment provider. RASEDI may debit your settlements or your designated bank account for the amount of any chargebacks, reversed transactions, fines, penalties or related costs. You must cooperate fully with RASEDI in investigating and responding to disputes and provide all documentation that we or our partners reasonably request. RASEDI does not decide the outcome of chargebacks; decisions are ultimately made by the issuing bank or payment network.
7. Compliance, AML and KYC
You acknowledge that RASEDI is required to carry out customer due diligence and ongoing monitoring under applicable anti‑money‑laundering, counter‑terrorism financing and financial‑sanctions regulations. You agree to provide all information and documentation reasonably requested by RASEDI for the purposes of onboarding, periodic reviews and ongoing monitoring. RASEDI may, at any time and without liability, suspend or terminate your access to the Services, freeze or delay settlements or take other necessary measures where we believe that your activities may be associated with money laundering, fraud, sanctions violations or other suspicious conduct, or where you fail to provide required information in a timely and accurate manner.
8. Data Protection and Security
In the course of providing the Services, RASEDI processes personal data relating to you and your customers. The handling of personal data is governed by the RASEDI Privacy Policy, which forms an integral part of these Terms. You must ensure that you have provided appropriate privacy information to your customers and, where required, obtained any necessary consents to enable RASEDI to process their personal data for the purposes of payment processing, fraud prevention, regulatory compliance and service improvement. You must not use the Services to store or transmit unencrypted payment card data or other sensitive information outside the secure mechanisms provided by RASEDI. You agree to comply with any security standards or requirements communicated by RASEDI from time to time.
9. Intellectual Property
RASEDI and its licensors retain all rights, title and interest in and to the Services, including all software, documentation, designs, trademarks, logos and other intellectual property. These Terms do not grant you any ownership rights in the Services or any RASEDI intellectual property. RASEDI grants you a limited, non‑exclusive, non‑transferable, non‑sublicensable license to access and use the Services solely for your internal business purposes and strictly in accordance with these Terms and any technical documentation we provide. You must not copy, modify, reverse engineer, decompile, disassemble, translate or create derivative works of any part of the Services, nor may you remove or alter any proprietary notices or attempt to circumvent any security or usage limitations.
10. Warranties and Disclaimers
You represent and warrant that you operate a legitimate business, that you will comply at all times with applicable laws and regulations and that you will not use the Services for any unlawful or prohibited purpose. You further warrant that you have obtained all approvals, licenses and authorizations necessary to carry on your activities and to use the Services, and that you have the right to provide all data and materials that you submit to RASEDI.
The Services are provided on an “as is” and “as available” basis. To the maximum extent permitted by law, RASEDI does not make any express or implied warranties, representations or conditions of any kind, including but not limited to warranties of merchantability, fitness for a particular purpose, non‑infringement or continuous availability. RASEDI does not warrant that the Services will be uninterrupted, error‑free or free from harmful components, nor that defects will be corrected. Access to the Services may be subject to limitations, delays and other problems inherent in the use of the internet and electronic communications.
11. Limitation of Liability
To the maximum extent permitted by law, RASEDI shall not be liable to you for any indirect, consequential, incidental, special or punitive damages, including loss of profits, loss of revenue, loss of business, loss of data or loss of goodwill, arising out of or in connection with the Services or these Terms, whether based on contract, tort or any other legal theory, even if RASEDI has been advised of the possibility of such damages. RASEDI’s total aggregate liability to you for any and all claims arising out of or relating to the Services or these Terms shall be limited to the total amount of fees actually paid by you to RASEDI for the Services during the three months immediately preceding the event giving rise to the claim, unless a different limitation is required by mandatory law.
12. Indemnification
You agree to indemnify, defend and hold harmless RASEDI, its affiliates, directors, officers, employees and agents from and against any and all claims, demands, losses, damages, costs, fines, penalties and expenses, including reasonable legal fees, arising out of or in connection with your breach of these Terms, your violation of any applicable law or regulation, your misuse of the Services, any claim relating to the goods or services you provide to your customers, or any claim that RASEDI’s use of data or materials provided by you infringes the rights of any third party.
13. Suspension and Termination
RASEDI may suspend or restrict your access to the Services, in whole or in part, with or without prior notice, if we reasonably believe that you have breached these Terms, that your activities present a risk of fraud or other illegal conduct, that you have failed to pay fees when due or that suspension is necessary to protect the security, integrity or reputation of the Services. Either party may terminate these Terms and your use of the Services for convenience by providing written notice, subject to the settlement of any outstanding obligations. Upon termination, your right to use the Services will cease immediately, but these Terms will continue to apply to any transactions processed prior to termination and to any obligations which by their nature are intended to survive, including provisions relating to fees, liability, indemnification, data retention and governing law.
14. Governing Law and Dispute Resolution
These Terms, and any non‑contractual obligations arising out of or in connection with them, shall be governed by and construed in accordance with the laws of the Republic of Iraq, without regard to conflict‑of‑law principles. Any dispute, controversy or claim arising out of or relating to the Services or these Terms that cannot be resolved amicably shall be submitted to the competent courts of Iraq, unless the parties agree in writing to an alternative dispute‑resolution mechanism such as arbitration or mediation.
15. Changes to the Services and to these Terms
RASEDI may modify or update the Services from time to time in order to improve functionality, comply with regulatory requirements or address security and operational needs. We may also amend these Terms from time to time. When changes are made, we will update the “Last Updated” date at the top of this document and, where required, provide notice through the dashboard, website or email. Your continued use of the Services after the effective date of any changes will constitute your acceptance of the revised Terms. If you do not agree to the changes, you must stop using the Services.
16. Miscellaneous
If any provision of these Terms is held to be invalid, illegal or unenforceable, the remaining provisions shall remain in full force and effect. No failure or delay by RASEDI in exercising any right or remedy shall operate as a waiver of that or any other right or remedy. You may not assign or transfer any of your rights or obligations under these Terms without RASEDI’s prior written consent. RASEDI may assign its rights and obligations under these Terms to an affiliate or in connection with a merger, acquisition or other corporate transaction. These Terms, together with any applicable commercial or fee agreement and the RASEDI Privacy Policy, constitute the entire agreement between you and RASEDI in relation to the Services and supersede any prior understandings or arrangements.