Effective Date: April 18, 2018

This Terms of Service is a legal agreement between you and YenePay that governs your access to and use of the YenePay Services as a purchaser of merchandise, goods, or services. Your registration and use of the YenePay platform will confirm your understanding and acceptance of the terms and conditions herewith. By agreeing to these Terms of Service, you represent and warrant that you have the legal capacity to do so.

Definitions and Interpretations

Unless the context otherwise requires, the following words and terms shall have the meanings assigned to them:

  1. Buyer” or “you” means a Customer that applies to or registers to use or uses the Services to buy Products and make Payment Transactions.
  2.  “Customer” means person or corporate entity that registers with the Service as a Buyer or a Seller.
  3. “Dispute” meansany issue, question or disagreement that may occur between a Buyer and a Seller regarding the Services or Payment Transactions to be filed and reported to YenePay on the Dispute Center. Dispute also means any issues, questions or disagreements that Buyers may have on the Services and/or with YenePay.
  4. “Dispute Center” means a web application platform that is used to file and manage Disputes by YenePay.
  5. “Seller” means Customer that uses the Service to sell Products and process Payment Transactions from Buyers.
  6. “Payment Transaction” means the processing of a payment through the Service that results in the debiting or charging of the Purchase Amount from a Buyer’s bank account or YenePay Account and the crediting of funds to the Seller’s YenePay Account.
  7. “Product” means any merchandise, good or service that is listed for sale and purchased via the Services and Payment Transactions.
  8. “Purchase Amount” means the amount of payment to be made by the Buyer for the purchase of a Product, and any related fees, taxes or shipping charges, as applicable.
  9. “Service” means a digital payment service platform provided by YenePay which facilitates the processing of Payment Transactions between a Seller and the Buyer.
  10.  “We” or “us” means YenePay.
  11. YenePay” is a service provided by YenePay Financial Technologies PLC, a company duly established under the laws of the Federal Democratic Republic of Ethiopia and located at Meskel Flower, Addis Ababa – Ethiopia.
  12. YenePay Account” means a web based account to be registered by the Customer for the purpose of using the Services having its own unique username and password.
  13. “YenePay Account Manager” means a web application that the Customer will use to manage and track activities on his/her/it’s YenePay Account. The Customer will be granted access to this application upon successful completion of the registration process.

Preconditions to Registration

  1. You must review these entire terms and conditions of service agreement prior to registration and opening a YenePay Account.
  2. In order to use the Service, you hereby consent to provide and agree to complete all required information elements on the Service registration web pages. You undertake and agree to provide current,    complete and accurate information and maintain it as current and accurate. We may require you to provide additional information as a condition of continued use of the Service, or to assist in determining whether to permit you to continue to use the Service.
  3. We, in our sole and absolute discretion, may refuse to approve or may terminate existing registrations with or without cause or notice, other than any notice required by any applicable law,    and not waived herein.
  4. Upon successful registration, you will be granted with a YenePay Account that would entitle you to use the Services

Payment Transaction Processing 

  1. The Service facilitates the processing of Payment Transactions for the purpose of purchasing Products by Buyers.  The Service will process Payment Transactions on behalf of Sellers. YenePay is not a bank or other chartered depository institution.
  2. YenePay may delay payment processing of suspicious transactions or transactions which may involve fraud, misconduct, or violate applicable law, this Terms of Service for Buyers, or other applicable YenePay policies, as determined in YenePay’s sole and absolute discretion.
  3. You acknowledge and agree that your purchases of Products are transactions between you and the Seller, and not with YenePay. YenePay is not a party to your purchase of Products, and YenePay is not a Buyer or a Seller in connection with any Payment Transaction, unless expressly designated as such in the listing of the Product on a YenePay website.
  4. You acknowledge and agree that payments you make to requests from another Customer are transactions between you and the Customer and not with YenePay.

Limitations on the Use of Service

  1. We reserve the right to change, suspend or discontinue any aspect of the Service at any time, including hours of operation or availability of the Service or any Service feature, without notice and without liability.
  2. We reserve the right to impose limits on certain Service features or restrict access to parts or all of the Service without notice and without liability.
  3. We do not warrant that the functions contained in the Service will be uninterrupted or error free, and we shall not be responsible for any service interruptions (including, but not limited to, power outages, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of Payment Transactions or the Service).
  4. We may limit or suspend your use of the Service at any time, in our sole and absolute discretion. If we suspend your use of the Service, we will attempt to notify you by electronic mail and/or SMS.
  5. We shall not represent or endorse, and shall not be responsible for: (a) the safety, quality, accuracy, reliability, integrity or legality of any Product, the truth or accuracy of the description of Products, or of any advice, opinion, offer, proposal, statement, data or other information (collectively, “Content”) displayed or distributed, purchased or paid through the Service; or (b) the ability of Buyers to buy Products or Sellers to deliver Products. YenePay hereby disclaims any liability or responsibility for errors or omissions in any Content or in the Service.

Obligations of the Buyer

  1. You are responsible for maintaining the confidentiality of your YenePay Account, the username and password.
  2. You shall be responsible for any and all transactions by persons that you give access to or that otherwise uses such username or password.
  3. You shall be responsible for the consequences of use or misuse of your YenePay Account, username and password.
  4. You shall immediately notify us of any unauthorized use of your username or password or any other breach of security regarding the service of which you have knowledge.

Privacy Policy

The buyer shall agree that personal information provided to us in connection with the Service is subject to the YenePay’s Privacy Policy.

Service Fees

We do not charge fees to use the Service for the purchase goods or services as a Buyer. Service fee will, however, be applicable to other services provided, such as receiving payments against requests issued by you to other Customers.

Disputes between Customers

YenePay will provide various tools to assist Customers in communicating with each other to resolve a Dispute that may arise between Buyers and Sellers with respect to the Payment Transaction. You are advised to follow the below steps to resolve any Disputes:

  1. Try to resolve your problem directly with the Seller:Use reasonable endeavors to resolve the Dispute directly with the Seller. If you are still unable to resolve the Dispute, go to the DisputeCenter and follow steps b, c and d below.
  2. Open a Dispute:Enter the Dispute Center after 24 hrs and within 16 days (“Period”)  of the date on which your payment has been marked as ‘Paid’ for the purchase you would like to dispute. We may refuse to accept any Disputethat you open in relation to that purchase after the expiry of the Period.
  3. Escalate the Dispute to a Claim:If you and the Seller are unable to come to an agreement, you may escalate the Dispute to YenePay within 16 days of opening the Dispute (“Claim”). It is your responsibility to keep track of these deadlines. You must wait at least 3 days from the date of opening a Dispute to escalate it to YenePay. If you do not escalate the Dispute to a Claim within 16 days, it will automatically be escalated to YenePay and we may close the Dispute at our sole discretion. Once you have opened a dispute, you may not edit or change its details.
  4. Respond to YenePay’s requests in a timely manner:Once a Dispute has been escalated, YenePay may make a final decision on the Dispute in favor of the buyer or the Seller. Before (andfor the purpose of) making a final decision on the Dispute, YenePay may request your cooperation in resolving the problem.

Termination of Service

YenePay reserves the right in its sole and absolute discretion without liability to you or any third party, to terminate your use of the Service for any reason, including without limitation inactivity or violation of this Terms of Service or other policies we may establish from time to time. Upon termination of your use of the Service, you remain liable for all Payment Transactions and any other outstanding obligations you have incurred. Upon termination, we have the right to prohibit your access to the Service, including without limitation by deactivating your username and password, and to refuse future access to the Service.

Force Majeure

We shall not be liable to the Buyer in the event of any disruption of the Service or the Payment Transaction or any part thereof resulting from force majeure and we may suspend the Service or part thereof in such an event. Force Majeure for purposes of this Terms of Service means any situation or event that makes it impossible for us to perform our obligations and includes but is not limited to any act of God such as lighting, floods, earthquakes, prohibitive decisions made by the government or local authority or civil war conflict and industrial strikes as well as any global or partial dysfunction of the Service caused by disruption or suspension of the telecommunication facilities.

Governing Law and Dispute Resolution

  1. This Terms of Service shall be governed in all aspects in accordance with the laws of Federal Democratic Republic of Ethiopia.
  2. The Parties to this agreement shall use their reasonable efforts to resolve any Dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity, termination or breach thereof and any dispute relating to any non-contractual obligations arising out of or in connection with it.
  3. Where the dispute is not resolved by negotiation within 15 days of receipt of a written invitation to negotiate, the dispute shall be referred to and finally resolved by a sole arbitrator appointed by mutual agreement of the parties. If the parties fail to agree on the appointment of the arbitrator, the arbitrator shall be appointed by the Addis Ababa Chamber of Commerce and Sectoral Association Arbitration Institute, Arbitration Rules.

Modification of Terms of Service

We have the right, in our sole and absolute discretion, to change, modify, or amend any portion of this Terms of Service at any time by posting notification on YenePay’s website or otherwise communicating the notification to you. The changes will become effective, and shall be deemed accepted by you, after the initial posting and shall apply on a going-forward basis with respect to Payment Transactions initiated after the posting date. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Service.