Terms & Conditions

1. Introduction

Welcome to KidaPay, a secure crypto payment platform that enables merchants to accept cryptocurrency payments and convert them to fiat currency. These Terms and Conditions ('Terms') govern your use of our platform, services, and related features. By accessing or using KidaPay, you agree to comply with and be bound by these terms. If you do not agree with these terms, please do not use our services.

2. Definitions

For the purposes of these Terms, the following definitions apply:

1. (a)KidaPayrefers to the KidaPay platform, including its website, mobile applications, APIs, and all related services provided by KidaPay Inc.
2. (b)Userrefers to any individual or entity that accesses or uses the KidaPay platform, including Merchants and Customers.
3. (c)Merchantrefers to businesses or individuals who use KidaPay to accept cryptocurrency payments for goods or services.
4. (d)Customerrefers to individuals who make payments to Merchants using cryptocurrency through the KidaPay platform.
5. (e)Cryptocurrencyrefers to digital or virtual currencies that use cryptography for security, including but not limited to Bitcoin, Ethereum, and other supported tokens.
6. (f)Fiat Currencyrefers to government-issued currency that is not backed by a commodity such as gold, including USD, EUR, GBP, and other supported currencies.

3. Eligibility and Account Requirements

To use KidaPay services, you must meet the following requirements:

1. (a)Age Requirement:You must be at least 18 years old or the legal age of majority in your jurisdiction.
2. (b)Legal Capacity:You must have the legal capacity to enter into binding agreements.
3. (c)Business Registration:For Merchant accounts, you must represent a legitimate business entity registered in a jurisdiction where KidaPay operates.
4. (d)Compliance:You must comply with all applicable laws and regulations in your jurisdiction, including those related to cryptocurrency and financial services.
5. (e)Verification:You agree to provide accurate, complete, and up-to-date information during account registration and verification processes.

4. User Obligations and Responsibilities

As a User of KidaPay, you agree to:

1. (a)Account Security:Maintain the confidentiality and security of your account credentials, including passwords, API keys, and authentication tokens.
2. (b)Accurate Information:Provide and maintain accurate, complete, and current information in your account profile and during all transactions.
3. (c)Lawful Use:Use the platform only for lawful purposes and in accordance with these Terms and applicable laws.
4. (d)Prohibited Activities:Not engage in fraudulent, illegal, or unauthorized activities, including money laundering, terrorist financing, or violation of sanctions.
5. (e)Notification:Immediately notify KidaPay of any suspected unauthorized access to your account or security breaches.
6. (f)Compliance Cooperation:Cooperate with KidaPay's compliance and security procedures, including providing additional documentation when requested.

5. Merchant-Specific Responsibilities

Merchants using KidaPay must additionally:

1. (a)Business Compliance:Ensure their business practices comply with all applicable local, national, and international laws and regulations.
2. (b)Product Representation:Accurately represent their products or services to customers, including pricing, availability, and delivery terms.
3. (c)Customer Service:Provide adequate customer service and handle customer inquiries, complaints, and refund requests in a timely manner.
4. (d)Transaction Ethics:Process transactions ethically and transparently, avoiding deceptive or unfair practices.
5. (e)Tax Obligations:Handle all tax obligations related to their transactions, including sales tax, VAT, and income tax reporting.

6. Payment Processing, Fees, and Settlement

KidaPay's payment processing operates as follows:

1. (a)Cryptocurrency Acceptance:KidaPay enables merchants to accept various cryptocurrencies as payment for goods and services.
2. (b)Conversion Services:We provide automatic conversion of cryptocurrency payments to fiat currency based on real-time market rates.
3. (c)Fee Structure:Transaction fees, conversion fees, and other charges are transparently disclosed on our platform and in your merchant dashboard.
4. (d)Settlement:Funds are settled to your designated bank account or wallet according to the settlement schedule outlined in your merchant agreement.
5. (e)Currency Risk:Cryptocurrency values can be volatile. Conversion rates are determined at the time of transaction processing.
6. (f)Processing Times:Settlement times may vary based on blockchain confirmation requirements and banking processing schedules.

7. Refunds, Disputes, and Chargebacks

Our policy regarding refunds and disputes:

1. (a)Merchant Responsibility:Refunds are primarily handled between merchants and customers according to the merchant's refund policy.
2. (b)Dispute Mediation:KidaPay may facilitate dispute resolution between merchants and customers but is not liable for the outcome of such disputes.
3. (c)Chargeback Protection:Cryptocurrency transactions are generally irreversible, providing natural chargeback protection for merchants.
4. (d)Documentation:Merchants should maintain proper transaction records and customer communication to resolve disputes effectively.
5. (e)KidaPay Intervention:We reserve the right to intervene in disputes involving suspected fraud or violation of these Terms.

8. Security, Compliance, and Risk Management

KidaPay implements comprehensive security measures:

1. (a)Platform Security:We employ industry-standard security measures including encryption, multi-factor authentication, and secure key management.
2. (b)Regulatory Compliance:KidaPay complies with applicable financial regulations, including AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements.
3. (c)User Responsibilities:Users must take reasonable precautions to protect their accounts, including using strong passwords and enabling two-factor authentication.
4. (d)Transaction Monitoring:We monitor transactions for suspicious activity and may freeze accounts or halt transactions when necessary for security or compliance reasons.
5. (e)Data Protection:We implement appropriate technical and organizational measures to protect user data in accordance with applicable privacy laws.

9. Account Suspension, Termination, and Closure

KidaPay reserves the right to suspend, restrict, or terminate accounts in the following cases:

1. (a)Terms Violation:Violation of these Terms and Conditions or any other KidaPay policies.
2. (b)Fraudulent Activity:Suspected or confirmed fraudulent, illegal, or unauthorized activities.
3. (c)Regulatory Compliance:Compliance with legal, regulatory, or court orders requiring account restrictions or closure.
4. (d)Risk Management:High-risk activities that may pose a threat to the platform or other users.
5. (e)Inactive Accounts:Accounts that remain inactive for extended periods as defined in our account policy.
6. (f)Voluntary Closure:Users may close their accounts at any time, subject to settlement of outstanding obligations.

10. Limitation of Liability and Disclaimers

KidaPay's liability limitations:

1. (a)Service Availability:We do not guarantee uninterrupted access to our services and are not liable for service outages or technical issues.
2. (b)Market Risks:We are not liable for losses arising from cryptocurrency market volatility or exchange rate fluctuations.
3. (c)Third-Party Services:We are not responsible for the actions or services of third-party providers, including payment processors and blockchain networks.
4. (d)User Negligence:We are not liable for losses resulting from user negligence, including compromised account credentials or failure to follow security recommendations.
5. (e)Maximum Liability:Our total liability to any user shall not exceed the fees paid by that user to KidaPay in the 12 months preceding the claim.

11. Privacy and Data Protection

Your privacy is important to us. Our comprehensive Privacy Policy details how we collect, use, store, and protect your personal information. By using KidaPay, you acknowledge that you have read and agree to our Privacy Policy, which is incorporated into these Terms by reference. We comply with applicable data protection laws and implement appropriate safeguards to protect your information.

12. Intellectual Property Rights

KidaPay's intellectual property rights include:

1. (a)Platform Ownership:KidaPay owns all rights, title, and interest in the platform, including software, trademarks, and proprietary technologies.
2. (b)User License:We grant you a limited, non-exclusive, non-transferable license to use our platform in accordance with these Terms.
3. (c)Restrictions:You may not copy, modify, distribute, or reverse engineer any part of our platform without explicit written permission.
4. (d)User Content:You retain ownership of content you provide but grant KidaPay necessary licenses to operate our services.

13. Amendments and Updates

KidaPay reserves the right to update, modify, or amend these Terms and Conditions at any time. We will provide notice of material changes through email, platform notifications, or by posting updated terms on our website. Your continued use of KidaPay after such changes constitutes acceptance of the revised Terms. We recommend reviewing these Terms periodically to stay informed of any updates.

14. Governing Law and Dispute Resolution

Legal framework and dispute resolution:

1. (a)Governing Law:These Terms are governed by the laws of the jurisdiction where KidaPay is incorporated, without regard to conflict of law principles.
2. (b)Dispute Resolution:Disputes shall first be addressed through good-faith negotiations. If unresolved, disputes may be subject to binding arbitration.
3. (c)Jurisdiction:Any legal proceedings shall be conducted in the courts of competent jurisdiction where KidaPay is incorporated.
4. (d)Class Action Waiver:Users agree to resolve disputes individually and waive rights to participate in class action lawsuits.

15. Miscellaneous Provisions

Additional important terms:

1. (a)Severability:If any provision of these Terms is found unenforceable, the remaining provisions shall continue in full force and effect.
2. (b)Entire Agreement:These Terms, together with our Privacy Policy and other referenced policies, constitute the entire agreement between you and KidaPay.
3. (c)Assignment:KidaPay may assign these Terms without notice, but users may not assign their rights or obligations without our written consent.
4. (d)Force Majeure:KidaPay is not liable for delays or failures in performance due to circumstances beyond our reasonable control.

16. Contact Information

For questions, concerns, or support regarding these Terms and Conditions, please contact our support team at info@kidapay.com