1. Who we are
These Terms are an agreement between your business ("you") and FahariPay Limited, a private limited company incorporated in Kenya under the Companies Act, 2015 (company number PVT-WQ1P8KE6), with its registered office at Kabarnet Road, Kilimani, Nairobi, Kenya (P.O. Box 8798-00200, City Square) ("FahariPay", "we", "us").
FahariPay is a financial technology company, not a bank. Accounts, local payment rails and certain services are provided in partnership with regulated third parties, including a licensed Kenyan bank regulated by the Central Bank of Kenya (our "Partners"). Where a Partner provides part of a service, the Partner's terms also apply.
2. Eligibility
Our services are for registered businesses only. To use them you must:
- be a legally registered business in good standing in a country we support;
- be represented by a person authorised to bind the business;
- pass our know-your-business (KYB) and anti-money-laundering checks; and
- not operate in a prohibited industry listed in our Compliance page.
3. Opening and using your account
You must give us complete and accurate information and keep it up to date. We may ask for more information at any time, including about your owners, directors, source of funds and transactions.
You are responsible for everyone you give access to your account, for keeping credentials secure, and for all instructions given through your account or API keys.
4. Our services
Depending on your agreement with us, services may include business accounts, collections, payouts, foreign exchange and OTC trading, cards and cross-border payments. Some services may be available only in certain countries, currencies or to certain customers.
Foreign-exchange rates and fees are shown before you confirm a transaction. Once confirmed, a conversion or payment instruction may not be cancellable.
5. Fees
You agree to pay the fees set out in your pricing schedule or shown in the dashboard. We may deduct fees from your balance. We will give you at least [30] days' notice of fee increases.
6. Prohibited use
You must not use FahariPay for any unlawful purpose, including fraud, money laundering, terrorist financing, sanctions evasion, or any activity listed as prohibited in our Compliance policy. You must not attempt to interfere with our systems or access them without authorisation.
7. Holds, suspension and termination
We may delay, hold, reject or reverse a transaction, or suspend or close your account, where we reasonably believe it is required by law or regulation, by a Partner, to prevent fraud or financial crime, or where you breach these Terms. Where lawful, we will tell you why.
You may close your account at any time by contacting us, once any outstanding obligations are settled.
8. Liability
Nothing in these Terms limits liability that cannot be limited by law. Otherwise, we are not liable for indirect or consequential loss, or for losses caused by events beyond our reasonable control, including failures of third-party payment rails. Our total liability is limited to [the fees you paid us in the 12 months before the claim].
9. Data protection
We process personal data in accordance with our Privacy Policy and the Data Protection Act, 2019 of Kenya.
10. Changes to these Terms
We may update these Terms. We will notify you of material changes at least [30] days in advance, unless a change is required sooner by law.
11. Governing law and disputes
These Terms are governed by the laws of Kenya. Please raise any issue with us first through our complaints process. Disputes that cannot be resolved will be subject to [the courts of Kenya / arbitration in Nairobi].
12. Contact
Questions about these Terms: hello@usefaharipay.com.