Terms of Service

2. Eligibility Criteria

Who Can Register with X8 Merchant

The App is open to merchants engaged in all types of businesses, including:

• Formal Businesses: Businesses registered with the Department of the Registrar of Companies.
• Informal Businesses/Individuals: Vendors without a formal business registration such as freelancers, street vendors, taxi drivers, or other service providers.

Requirements for Registration

• Formal businesses: Must provide business registration details during sign-up.
• Informal businesses: Can register without formal documentation but must provide accurate personal identification and contact information.

3. Services Provided

The app offers merchants the following functionalities:

• Generate and display a QR code linked to your account for easy payment collection.
• Track and manage payment transactions through an intuitive dashboard.
• View payment history and monitor settlements in real-time.

4. Merchant Responsibilities

All merchants are expected to:

• Utilize the app solely for legitimate business or service-related transactions.
• Display the QR codes generated by the app securely and visibly at their business premises or on mobile devices.
• Keep their login credentials confidential and protected.
• Continuously monitor their account activity and immediately notify the relevant authorities if any unauthorized or suspicious transactions are detected.

5. Fees and Payment Settlement

Applicable Service Fees

• A standard service fee of 0.5% will be deducted from each transaction.

Settlement Process

• Payments will be credited to the merchant’s chosen bank account or mobile wallet within one business day. It is the merchant’s responsibility to ensure the accuracy of their settlement details.

6. Prohibited Activities

Merchants are prohibited from:

• Engaging in fraudulent or illegal activities.
• Using the app to process payments that are not related to legitimate business transactions.
• Sharing their QR codes with unauthorized parties or using them for purposes other than collecting payments.
• Falsely representing their business type during registration.

Failure to comply may lead to account suspension or termination.

7. Features for Informal Businesses

For unregistered businesses and individual merchants:

• Registration is straightforward and does not require formal business documentation. However the merchant is expected to share their personal information.
• Essential app features, such as QR code generation and payment tracking, are accessible.
• Some advanced features, like detailed reporting and analytics, may only be available to registered businesses.

8. Privacy and Confidentiality

• ePay Systems is dedicated to safeguarding both merchant and customer data.
• By using the app, you consent to our Privacy Policy, which explains how we collect, store, and utilize your information.
• Merchants are prohibited from sharing customer transaction information with unauthorized individuals.

9. Amendments to Terms

ePay Systems may periodically update these Terms. Any changes will be communicated through the app or on our website. By continuing to use the app after the updates, you agree to the revised Terms.

10. Termination of Service

This agreement may be terminated:

• By the merchant at any time by deactivating their account.
• By ePay Systems in case of violations of these Terms or any suspicious activity linked to the merchant’s account.

Upon termination, the merchant’s access to the app will be revoked, and any outstanding payments will be processed according to the standard settlement timeline.

11. Governing Law

These Terms are governed by the laws of the Democratic Socialist Republic of Sri Lanka.