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These Merchant Terms and Conditions (the “Agreement”) set out the terms on which Nami will enable Merchant to accept payment for Products and Services through Nami’s payment system.
These Terms shall come into effect as of the date of Merchant’s engagement of Nami.
The following specific terms appear in this Agreement:
Nami: Financial Lunar Space Corporation (Nami).
“Account”: is the merchant’s Nami e-wallet account.
“Brand Features”: are the trade names, trademarks, service marks, logos, domain names and other distinctive brand features of each Party, respectively, as owned or licensed by such Party from time to time.
“Business Day”: A business day (Sunday to Thursday) that is not interspersed with a public holiday in Saudi Arabia.
“Client”: A person who owns a wallet on the Nami platform.
“Disputes”: Any disputes, lawsuits, arrangements or other disagreements between Customers and Nami or other third parties arising out of the use of the Service other than Service Disputes.
“Registration Form“: It is the merchant registration form that has been approved by the merchant and also the approval of Nami to provide the service.
“Intellectual Property Rights”: all patent rights, copyrights, rights in software, moral rights, trademarks, service marks, logos, rights in and to databases, rights in and to confidential information, trade secrets, rights in and to domain names and any other proprietary rights (registered or unregistered) worldwide, including all rights of retrieval, the right to any pending applications and registrations, the right to sue and recover damages for past infringements.
“Force Majeure”: Any act of God including but not limited to fire, flood, earthquake and other natural disasters; acts of sovereignty including terrorist attacks, war, invasion, foreign hostilities, labor dispute including strike, lockout or boycott, disruption or interruption of utility services including electronic services and any other cause beyond the control of either party and not including causes related to the parties.
“Company”, “we”, “us”, “our”: means Nami Company.
“Merchant”, “you”, “your-ownership”: Any person or entity that uses the Service to sell Products and receive Purchase Amounts from Transactions.
“Merchant Website“: means the pages of the Merchant’s website that display the Products that can be paid for by the Service.
“Payment Order” means the instructions given by the Merchant to Nami to execute a Transaction authorised by the Customer.
“Product”: means any goods or services that the Customer may purchase from a Merchant using the Service.
“Purchase Amount”: means an amount equal to the price of the Product, including any relevant duties, taxes, shipping charges or handling charges, as applicable.
“Refundable Transaction“: The transaction that the Merchant transfers to Nami from the Settlement Account for an amount identical to the refunded amount.
“Service”: The service provided by Nami described in this Agreement which includes conducting transactions on behalf of Merchants in connection with the purchase of Products / Services between Merchant and Customer.
“Service Disputes”: means any controversies, complaints, lawsuits, arrangements or other controversies arising solely out of the alleged failure by Nami to fulfil its obligations under this Agreement or any applicable law and any associated error in the provision of the Service.
“Service Fee”: The fee charged by Nami for the Service.
“Transaction”: A transaction in which Nami transfers an amount equal to the purchase amount to the merchant’s wallet.
“Wallet Account”: means the account that Customers have with Nami in order to use the Wallet Service.
“Wallet Services” means the services provided by Nami to customers, which include the ability of customers to make payments to merchants from their account in the wallet, in addition to the services provided by Nami to merchants, which include the ability of merchants to receive payments to their accounts and transfer amounts from their accounts to their settlement accounts.
2.1 Nami provides e-wallet services to its customers that enable customers to pay for the purchase of products or services provided by merchants, this agreement sets out the terms on which Nami enables you to accept the wallet service as a means of payment.
2.2 The Merchant acknowledges and agrees that:
(a) Nami provides the Service to facilitate transactions on behalf of Merchants to facilitate payments for Products by Customers.
(b) Nami conducts transactions on behalf of merchants.
2.3 The Merchant acknowledges that Nami provides and continues to provide the Service to the Merchant provided that the Merchant conducts due diligence such identity checks as Nami may carry out, and the Merchant complies with Nami’s regulatory and anti-money laundering requirements. The Merchant shall provide all assistance requested by Nami in conducting such checks and complying with anti-money laundering requirements, including providing such additional information for registration or identity verification as Nami may request.
2.4 The Merchant acknowledges and agrees that the sales of the Products are transactions between the Merchant and the Customer and not with Nami.
2.5 Nami assumes no responsibility for the quality, safety or legality of the Products provided.
2.6 Where the Client authorises a purchase using the Wallet Service, Nami will after receiving a payment request from the Merchant process the Transaction on behalf of the Merchant through the appropriate payment processing network, Nami will transfer all funds relating to the Transactions to the Merchant’s account net of the “Service Fee” as detailed in Section 5 below, and the Merchant may from time to time request via the Nami Wallet Services to transfer amounts from the available balance in its account to such Merchant’s Settlement Account.
2.7 The Merchant will only use the Service to process a payment request for a Product / Service purchased by the Customer through the legitimate and regular sale of the Product.
2.8 Nami may place restrictions relating to the general practices and use of the Service without prior notice to Merchant, including but not limited to individual or group transaction restrictions.
2.9 The Merchant will not use the Service in any way for an illegal or prohibited purpose, and the Merchant understands that prohibited use is grounds for immediate suspension of the Service or termination of the Agreement.
2.10 The Merchant shall comply with all terms, conditions and restrictions relating to the use of the Service for Merchants, as published and updated by Nami from time to time.
2.11 Nami may change or suspend the Service, in whole or in part, at any time it deems appropriate, when necessary to perform maintenance or updates to the Service, or if Nami has any concerns about the manner in which the Merchant uses the Service.
2.12 The Merchant shall not establish a minimum or maximum transaction amount as a condition of the Customer’s use of a payment service for a Product / Service.
2.13 The Merchant shall not add any additional fees to any Transaction for the use of the Service.
2.14 In the event of any transaction being cancelled for any reason Nami may seek to recover such funds from the Merchant by debiting the Merchant’s account, the Merchant acknowledges and agrees that in the event that there are insufficient funds in the Merchant’s account, Nami may collect the Merchant’s debits through debiting the Merchant’s wallet following a subsequent transaction or by any other lawful means.
2.15 Nami will process Transactions in accordance with its policies and guidelines as described in paragraph 10.2 (a) above.
3.1 The Merchant will provide current, latent and accurate registration information and settlement account information and will update such information to maintain it continuously and accurately, and Nami may request the Merchant to provide additional information from time to time as a condition of continued use of the Service or to assist Nami in determining whether to allow the Merchant to continue to use the Service.
3.2 If Nami updates its technical or operational specifications from time to time, the Merchant will implement such updates or modifications as soon as practicable, provided that the update period does not exceed (30) thirty days from the date of receiving the notice of the update.
3.3 Nami will investigate Service Disputes, provided that the Merchant provides reasonable assistance to Nami if requested by Nami, from time to time.
3.4 Any service dispute should initially be referred to Nami’s customer support team.
3.5 Merchant agrees that Nami will share the information of all existing merchants using its payment solutions with Saudi Credit Information Company (SIMAH). Upon SIMAH’s request, Nami shares the following information:
– Information about traders, including commercial register, name, and address.
– Information on the merchant’s transaction history with Nami products, including outstanding payments.
Furthermore, the Merchant may check the SIMAH report through the website of this company; it should be noted that this report is a full report on the current credit standing of the Merchant, and it provides an overview of all Nami services used by the Merchant, however, SIMAH may charge the Merchant for viewing the full report. The result the merchant gets from SIMAH is influenced by the information shared about their payment history. For example, if a merchant makes payments on time consistently, the result of a trait is positively affected. However, SIMAH’s results are negatively affected if the merchant is constantly late in making payments, and the result of SIMAH is also affected by the merchant’s payment history for each of his credit accounts, not just Panamanian.
3.6 Merchant’s account that has passed more than 180 days without making any payment will be written off, in this case, Nami is working with SIMAH to report and write off the Merchant’s account, and then the Merchants will receive a notification from Nami 30 days before reporting the write-off, so the Merchant will be able to pay the account in full before reporting it.
4.1 Subject to the terms and conditions of this Agreement, Nami grants to Merchant a limited, non-exclusive license (without the right to sublicense) during the term of this Agreement to display Nami Brand Features provided to Merchant by Nami for use solely in connection with the implementation of the Service, Nami may revoke the license granted by Nami at any time, and Merchant shall cease to use the relevant Brand Features.
4.2 Subject to the terms and conditions of this Agreement, Merchant grants to both Nami and its Affiliates a limited, non-exclusive license (except as provided in this paragraph) (without the right to sublicense) during the term of this Agreement to display Merchant’s Brand Features for use in connection with the Service and to perform its obligations under this Agreement.
4.3 Each Party owns all rights, title and interest, including but not limited to, all intellectual property rights relating to the Trademark Features, except to the limited extent expressly set forth in the Agreement, neither Party grants or acquires any right, title or interest (including, without limitation, any implied license) in any of the other Party’s Trademark Features.
5.1 The Merchant shall bear the service fees specified by Nami.
5.2 The Merchant shall bear the maintenance and operation service fees annually from Nami in the amount of SAR 414, including VAT, provided that they are automatically deducted from the Merchant’s account in two installments. The first installment shall be at the beginning of the first quarter and the second installment shall be at the beginning of the second quarter.
5.3 Nami may refuse the merchant’s payment order or suspend the merchant’s wallet account in the following cases:
(a) If the conditions for accepting or executing the payment order are not met in the contract with the customer.
(b) if Nami suspects that the payment is the result of a fraudulent act, or involves any risk of money laundering or terrorist financing.
(c) if the transaction in respect of which a payment order has been made breaches any of Nami’s obligations, under the relevant laws, regulations and resolutions.
In the event that the payment order is rejected, Nami shall notify the Merchant in a timely manner of the rejection, explaining the reasons for the rejection and the mechanism for correcting it, provided that the payment order shall be appealed after the matter is resolved, with the Merchant bearing the transaction fees in the event of rejection, when the reason for the rejection is beyond Nami’s control.
5.4 Payments shall be made by Nami within a maximum period of ten working days, which may be extended in the event of technical, operational or third-party problems.
5.5 Cancellation of Payment: The Merchant cannot cancel the payment order after receiving it from the sender of the payment order, the Merchant cannot cancel the payment order after authorizing Nami to create the payment order or authorizing the beneficiary to create such an order, and the Merchant cannot cancel the payment order for any direct debit transaction after the end of the business day preceding the day on which the debit was agreed to be executed.
The Merchant cannot cancel the payment order after the end of the business day preceding the agreed day for the execution of the order and prevents the cancellation of the payment order after the cancellation period, which is one business day.
The Merchant will not be charged for a cancelled payment order, unless it has already been executed by Nami.
5.6 Nami will issue the monthly invoice on the 26th of the calendar month, so that the monthly billing cycle is from the 26th to the 26th of each month.
5.7 Nami shall be liable for any fees resulting from the non-performance of the transaction or from its incorrect or late execution, in accordance with the provisions of the Implementing Regulations of the Payment System and Services.
5.8 The Merchant may terminate a contract with Nami, without imposing any fines, within ten working days from the date of signature.
Nami may provide the relevant Payment Services during the Probation Period, based on an agreement with Merchant, and in compliance with all requirements associated with the provision of the Service, provided that this shall not affect Merchant’s right to withdraw from the Agreement within the said period.
If the Merchant terminates his contract with Nami during the probation period, the Merchant shall be entitled to a full refund of the fees not related to the payment service provided to him.
5.9 Nami is not responsible for any errors made by the merchant when creating a transaction and choosing an incorrect unique beneficiary reference number or incorrect bank details, Nami will use due diligence to return the funds from the incorrect recipient and beneficiary, Nami may charge the customer for the attempted refund, which is the fee charged by the beneficiary to Nami, in addition to any additional fees that may cover any cost incurred by Nami and Nami will cooperate with the beneficiary to recover the amount to the maximum extent possible.
In the event that Nami is unable to claim a refund, it will, upon the Merchant’s written request, provide the Merchant with all relevant information available so that the Merchant can claim a refund.
5.10 The merchant, as the payer, shall be liable for all losses resulting from unauthorized payments in the following cases:
(a) If the merchant acts fraudulently.
(b) If the Merchant wilfully violates its obligations to maintain the security of the payment instrument and personal security features, or acts with great negligence in doing so, or fails to exercise due diligence.
The Merchant shall not be liable for any losses incurred in connection with the unauthorized payment if unauthorized payments arise after the Merchant notifies Nami of the loss, theft or exploitation of its means of payment, or the unauthorized use of the Payment Instrument.
5.11 The merchant may request a full refund from Nami for any authorized transaction, in the following cases:
(a) If the payment authorization does not include the amount specified for payment at the time the authorization is issued.
(b) if the amount of the payments exceeds the amount expected to be paid by the payer, taking into account the pattern of payments previously made by the Merchant, the terms and conditions contained herein, and the circumstances of each case.
When returning the amount to the Merchant’s wallet account, Nami verifies that the credit value date does not exceed the date on which the unauthorized transaction amount was deducted, and the Merchant will not rely on changes in exchange rates if the reference exchange rate stipulated in the Contract is applied.
However, refunds are not possible in the following cases:
(a) if the Merchant has given direct permission to Nami to carry out the Transaction.
(b) If the information relating to the transaction is provided to the Merchant in the agreed manner, at least four weeks before the scheduled date.
The Merchant shall request a refund from the Franchisee for any authorized transaction or through the sender within eight weeks starting from the date of the debit.
5.12 Nami shall return the payment order amount to Merchant, as payer, as soon as possible, and no later than the end of the business day following the day on which it became aware of the unauthorized transaction. However, this does not apply if Nami has reasonable grounds to suspect fraudulent conduct by the Merchant and has notified the Central Bank and relevant authorities accordingly.
Upon returning the amount to the wallet account, Nami verifies that the date on which the transaction amount was credited to the beneficiary’s account does not exceed the date on which the unauthorized payment orders were debited.
Nami shall notify the Merchant of the outcome of the investigation and pay any amount due or compensation due to the Merchant within seven days of the completion of the investigation of an error or complaint, or upon receiving any instructions from any competent authority in the Kingdom, and in the event of delay in the payment of any refund or compensation, Nami shall notify the Merchant of the expected time to recover the amount and the reasons for the delay.
The Merchant may request a refund if it becomes aware of any unauthorized transaction, provided that Nami is notified, and provided that the delay is justified and within a maximum of six months after the discount date, unless Nami fails to provide information regarding the transaction of the requested payment orders, in accordance with the provisions of the Implementing Regulations of the Payment System and Services.
5.13 If the device is damaged or lost, the value of the device will be deducted from the Merchant’s account or any account affiliated with it, and if the device is canceled or suspended from use, and it is not returned within 45 days from the date of cancellation or suspension, it will be considered lost, and its value will be deducted from the Merchant’s account or any account affiliated with the Merchant.
* If the merchant wishes to cancel the POS service within the first year of contracting with Nami, a fee will be deducted from the merchant’s account, or any account affiliated with it, for each device canceled.
* In the event that the Merchant wishes to replace the existing device that is working well and free of any defects or malfunctions with a new device, Nami will deduct the value of the replacement fee of the device from the Merchant’s account or any account affiliated with the Merchant.
5.14 Relocation: • The Merchant shall not move or remove any Nami POS device, installed at the Merchant’s Branch, from its location to another location within the Branch or any other building or to one of the Merchant’s branches, including any logo, advertising or marketing materials without the prior written consent.
Nami will, in due course, relocate and reinstall the POS devices of the Saudi Payments Network.
The Merchant shall bear all costs and expenses related to the request for the transfer and reinstallation of the Company’s POS devices.
5.15 The cardholder associated with the POS terminal agrees that he is authorized to use the card and is not entitled to hand over the card to any other person, and undertakes to take responsibility for all operations carried out on the card, and undertakes to stop the card upon the occurrence of any operations that he did not carry out or when the card is lost or stolen, and to contact customer service to report the card.
The Merchant agrees to add only treasurers who work under its management, and it is prohibited to add any treasurers who are not related to the Merchant or its business activities. The Merchant agrees to report immediately when any unauthorized or unknown transactions are observed. The terms of this Agreement shall be subject to the provisions of the Implementing Regulations of the Payments System and its Services System issued by the Saudi Central Bank. In the event of a conflict between the two, the Implementing Regulations shall prevail and shall be taken into account.
6.1 The Merchant will not disclose any confidential or proprietary information of Nami or with respect to the Client without the prior written consent of Nami, and the Merchant acknowledges and agrees that it is responsible for any act or omission of any person authorized to act in breach of this condition, and the Merchant is obligated to protect the confidential and proprietary information of Nami.
6.2 The Merchant represents and warrants that all officers, employees, agents, representatives and others with access to its login details will be authorized by the Merchant to use the Service and legally binding on the Merchant, and shall be responsible for their actions.
6.3 The Merchant shall not disclose any information relating to the Transactions.
6.4 The Merchant is obliged to protect the data for the transaction and the Customer’s information.
6.5 The data related to the customer or merchant is a very important part of our business. Therefore, we do not share data with companies unless they follow practices that offer protection benefits, at a minimum, equivalent to those outlined in the Privacy Policy.
6.6 Nami takes your personal data seriously and processes it in accordance with applicable laws and regulations. Nami acts as the “data manager” (i.e. the responsible body that decides how your personal data is processed) and Nami has adopted the privacy and security of your personal data, so that the following is done:
(a) sets out the types of personal information we collect;
(b) explains how and why we collect and use your personal information;
(c) How long we store your Personal Data
(d) explain how we will share your personal data – when, why and with whom
(e) explain the different rights and options available to you when it comes to your personal data
(f) explain the information security measures we apply to protect your personal data
Please be advised that by accepting these Terms and subsequently submitting any personal data to us, you agree that we will collect, use, disclose and retain such data in accordance with the Terms and Conditions, and as permitted or required by law.
A – What personal data do we collect about you and how do we collect it?
– We collect content, communications and other information that you provide when you use our Services, including when you register for an account (where appropriate) or communicate with us by any means including email. That data includes your name, email address, phone number, business name of your store (where appropriate), location / country and payment information (where appropriate), and we also collect additional and specific personal data based on the products you use.
– We need to do the verification of customer information and identity known as “KYC/KYC” process which requires collecting and processing the following information:
VAT registration
Other information: Store name and address, contact person, contact details, and other information you may provide to us during the onboarding process.
We also collect the following personal data:
When do we collect your personal data?
B – How and why do we use your personal data?
We use your data for the following purposes:
C – How long do we retain your personal data?
D – With whom do we share your personal data?
We may share your personal data with:
– By accepting this Privacy Policy, you consent to the sharing and disclosure of your personal data as described above to the extent that your consent is required in order for that data to be disclosed in compliance with applicable laws and regulations.
E – Your rights
– You have certain rights under and in accordance with applicable laws and regulations, including:
– You may exercise your rights set out in (a) to (e) above by contacting us with the understanding that your exercise of those rights will be subject to any exceptions permitted by applicable laws and regulations with respect to other legal requirements to protect the rights of others.
– Please contact us at the address / means of communication below if you wish to exercise your rights in relation to your personal data.
– We may ask you to provide any official document when you seek to make any such requests, in order to verify your identity.
F – Securing and protecting your personal data
G – Third-party service providers
7.1 Each Party represents and warrants that it has full authority and capacity to enter into the Agreement.
7.2 The Merchant warrants to Nami that:
(a) Merchant’s performance of its obligations under this Agreement shall not constitute a breach, default or breach of any term of the Agreement.
(b) comply with all applicable laws, statutes and regulations, or otherwise relating to Merchant’s use of the Service.
(c) Merchant will not attempt to initiate or receive a transaction using the Service that is, or would be, unlawful under any applicable law or regulation.
(d) Comply with all laws and regulations applicable to the sale of Products and their relationship with customers.
7.3 Nami warrants to Merchant that the Services will be provided with reasonable care and skill.
7.4 Nami does not warrant that the Services will meet all Merchant requirements or that the operation of the Services will be uninterrupted, virus-free, secure or error-free.
7.5 Nami shall not be liable for any breach of any term of this Agreement, including any condition or warranty to the extent that the breach in question results from Merchant’s failure to perform its obligations under this Agreement.
8.1 The Agreement shall not in all respects limit or exclude the liability of any Party for fraud or fraudulent misrepresentation.
8.2 Except as otherwise expressly provided in this Agreement, nothing in or of this Agreement shall exclude or limit the liability of either Party for breach of the intellectual property rights of the other Party.
8.3 Neither Party shall be liable for:
(a) any economic losses (including but not limited to loss of revenue, profits, contracts, data, business and anticipated savings).
(b) The cost of alternative services.
(c) Any loss of goodwill or reputation.
(d) any special or indirect losses arising out of or in connection with this Agreement incurred by that Party, in any event, whether or not such losses were foreseeable by the Parties at the time of entering into this Agreement.
8.4 The total liability of each Party for any matter arising out of or relating to this Agreement shall be limited to no more than an amount equal to the commission payable by Merchant to Nami for the relevant Service Charges during the twelve (12) month period commencing from 1 January to 31 December of the year in which the cause giving rise to the liability arose.
9.1 Should any of the Force Majeure occur and cause either Party to delay its obligations under this Agreement, the affected Party shall notify the other Party in writing within (07) calendar days of the occurrence of the Force Majeure.
9.2 Upon the occurrence of any Force Majeure Event, the duty of the Affected Party to perform its obligations under this Agreement shall cease until such time as they cease to exist and the Affected Party shall not be liable for failure to perform its obligations during such time.
10.1 The Merchant shall indemnify, defend and hold harmless Nami, its affiliates, and any service provider with whom Nami deals by agreement (the “Indemnified Persons”) in all third-party actions against any of the Secured Persons and against all liabilities, losses and expenses (including damages, settlement amounts and judicial and legal costs) incurred by Indemnified Persons arising out of or in connection with:
(a) the location (s) of the Merchant;
(b) Merchant’s Brand Features.
(c) Merchant’s use of the Service other than as permitted by this Agreement.
(d) any product which the Customer has attempted to exploit, use or acquire.
11.1 The term of the agreement for the merchant is one calendar year starting from the effective date, and the merchant may terminate his contract before completing one calendar year, provided that he obtains the approval of Nami and pays the termination fees, if any.
11.2 Nami may suspend or terminate the Convention in whole or in part, with immediate notice, in the following cases:
(a) The Merchant commits a serious breach of any term of the Agreement and such breach cannot be remedied.
(b) the Merchant commits a serious breach of any term of the Agreement and such breach can be remedied, and the Merchant fails to do so within thirty (30) calendar days of receiving the Notice of Processing Request.
11.3 Nami may terminate this Agreement upon immediate notice if the Merchant ceases to continue in business or in the event of insolvency, bankruptcy, natural or juridical person, loss of capacity or commencement of judicial proceedings.
11.4 Nami may immediately suspend Merchant’s use of the Service in connection with financial transactions if:
(a) consider the Merchant to be in breach of this Agreement including any of the clauses referred to in this Agreement.
(b) Merchant’s use of the Service causing financial risk or damage, damage to Nami’s reputation, the Service, or any of the payment systems used to process financing transactions or reasonable suspicion of fraud, money laundering or any other illegal activity by Merchant at Nami’s discretion.
The Merchant has carefully considered and understood that electronic transactions involve risk and the Merchant accepts any damages resulting from such electronic transactions, and the Merchant agrees to strictly adhere to the following:
In the event of receipt of payments for goods or services, the Merchant shall keep a record of sales or proof of trade, delivery of goods and services and receipt of payments such as tax invoice, shipping and receipt slip etc. as evidence in any disputes occurring at least eighteen (18) months thereafter. In addition, in the event that the Company wishes to verify the transactions of the Merchant, the Merchant agrees to provide the Company with all relevant information and documents immediately. The Merchant also agrees to assist the Company in order to obtain such information and documents and shall not in any circumstances obstruct, impair, destroy or hinder the Company from obtaining such information and documents.
In the event of rejection or undue payment, cancellation or retention of the Card, or a reasonable suspicion relating to the dishonest use of the Credit Card or any other reasons that have caused the Company’s funds to be deducted, compensated or claimed as damages from any banks, financial institutions or other persons, the Merchant agrees to pay to the Company the full amount which the Company is entitled to pay immediately together with the amount of payment for goods or services due to the Merchant without any objection or attempt to reject the said liability in all respects.
13.1 From time to time and as agreed between the Merchant and the Company, the Company may advertise and publish in relation to the Services specifically provided to the Merchant and the Merchant shall provide cooperation with the Company in advertising and publishing through various media or other networks.
13.2 In the event that Merchant uses any other service, method or channel to receive payments for goods or services from Customers provided by a service provider (s) other than the Company, Merchant agrees not to act as such as advertising, supporting or giving any right to such service, method or channel to other service provider (s) in a manner or manner that adversely affects the image of the services provided by the Company.
The terms and conditions may only be implemented by the parties related to Nami or whoever authorizes them to do so after the consent of the other party.
This Agreement shall be governed by and construed in accordance with the laws and regulations of the Kingdom of Saudi Arabia, and any dispute arising from these terms and conditions and the contract with (Nami) shall be submitted to the Banking Disputes Committee in the first instance, and in the event that the jurisdiction is for the courts and not for the committees, the competent courts in the city of (Riyadh) shall be spatially competent in considering the dispute.
16.1 Please note that we review the practices of Nami’s terms and conditions from time to time, and that these practices mentioned in these terms and conditions are subject to change and any change, update or amendment will be effective immediately upon publication on our website or when we notify it through electronic means, taking into account the statutory periods of activation, if any, so you must read and accept the policy every time it is updated and approved.
16.2 In accordance with the regulations and rules stipulated by the Central Bank, it is not allowed to add “non-Saudi” as a delegate at the expense of the individual institution, and it is allowed to delegate non-Saudi “in accordance with the regulations issued by the Central Bank” to the accounts of companies.
16.3 In accordance with the rules for opening and operating accounts issued by the Central Bank, which stipulate that the authority of the authorization shall be until the account holder informs a company of its cancellation through the application or the expiry of the statutory period of the authorization (five years) or when the validity of the identity of the delegate expires and has not been renewed.
16.4 Nami has the right to impose cash and non-cash limits on remittances, withdrawals, the number of point of sale devices and the number of delegates on portfolios according to the classification of internal customer segments in the company as it deems appropriate.
16.5 The merchant is obligated to pay the value of the monthly subscription to the points of sale, and in the event that he wishes to cancel the device or service, he must hand over the device to Nami first, and in the event that the device is not delivered, he is obligated to pay the value of the device shown according to the values that are clarified in the contractual relationship, indicating the value of the subscription for the late months, to accept the cancellation request.
16.6 In the event that duplicate amounts or amounts that are not the Merchant’s right are deposited in his wallet, the Merchant shall immediately disclose this to Nami and acknowledge Nami’s right to withdraw them, and at the same time, even if they are not disclosed by the Merchant, Nami shall have the right to withdraw the amounts from the Merchant’s wallet without reference to him. In the event that the Merchant withdraws the amounts before they are recovered by Nami, the Merchant shall be obliged to pay them and return them within 7 days from the date of notification, after which Nami may initiate the necessary legal procedures to recover this amount.
16.7 Nami shall be entitled to collect all fees and payments due, and the Client shall promptly pay such fees and payments and acknowledges Nami’s right to do so even in the event that the Client does not receive the payment advice/invoice. Nami reserves the right to adjust fees associated with variable rates, such as exchange rates, without prior notice to the Merchant, relying on an agreed reference rate accessible to the Merchant.
16.8 In the event of transfer of ownership of sole proprietorships in the Commercial Register, a Nami customer (the former owner of the sole proprietorship) shall comply with the following:
– Paying all financial dues and settling any financial or non-financial claims and rights retroactively since the beginning of the relationship with Nami.
– Close any wallet of that individual institution in Nami.
The new owner of the Sole Proprietorship can then register in Nami.
If you have general questions about the Terms and Conditions, are not satisfied with how we handle your personal data, or have other questions about the processing of your personal data, you can contact us at the following channels:
Platform X
Unified number
Live Chat
namipaysa
8001230011
8001230011
info@namipay.com.sa
Platform X
namipaysa
Unified number
8001230011
Live Chat
8001230011
info@namipay.com.sa
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© 2023 Luna Space Financial Company. All rights reserved.
Customer Service
Fax
966112087676
info@namipay.com.sa
Address
Building No.6367, Al Olaya Street, Al Woroud District, P.O.Box 12251, Riyadh, Kingdom of Saudi Arabia
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Take your time to get the right documents. Need help? Let us give you a call.
1- Mobile and national ID number of business owner
2- Commercial registration number or a scanned copy of freelance ID
3- Certified copy of bank account information and IBAN of business owner
