Terms of Service

1. Definitions

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

• Company: Refers to Neda Labs Ltd, the entity that provides the Services described in these Terms.
• Services: Encompasses all products and services provided by NedaPay, including payment processing, stablecoin management, payment links, invoicing, fiat offramping, and merchant tools.
• User: Any individual or entity that accesses or uses the Services provided by the Company.
• Merchant: A User who uses our Services to accept payments, create invoices, or conduct business transactions.
• Transaction: Any action initiated through the Services that involves the transfer or exchange of digital assets, stablecoins, or fiat currency.
• Wallet: A digital wallet used to store, send, and receive cryptocurrency and digital assets, including both embedded wallets provided through Privy and external wallets.

2. Services Overview

NedaPay provides a comprehensive digital payment platform built on blockchain technology. Our Services include:

• Payment Processing: Secure payment links, invoice creation and management, and transaction monitoring.
• Stablecoin Management: Real-time balance tracking, secure stablecoin transactions on Base Network, and integration with major stablecoins.
• Fiat Offramping: Direct USDC to fiat conversion with multiple currency support and integrated payment processors.
• Merchant Tools: Business verification (KYB), payment link generation, invoice management, and analytics.
• Authentication Services: Privy-powered authentication with embedded wallet support and social login integration.

3. User Requirements

To use the Services, you must meet the following criteria:

• Age Requirement: You must be at least 18 years old, or of legal age in your jurisdiction, to enter into a legally binding agreement.
• Legal Capacity: You must have the legal capacity and authority to enter into and be bound by these Terms.
• Compliance with Laws: You must comply with all applicable local, national, and international laws, regulations, and guidelines related to the use of the Services.
• Account Accuracy: You agree to provide accurate, current, and complete information, and to update this information as necessary.
• Wallet Security: You are responsible for safeguarding your wallet credentials, including private keys and seed phrases.

4. Acceptable Use

You agree to use the Services only for lawful purposes and in accordance with these Terms. Specifically, you agree:

Permitted Uses:

• To conduct legitimate business transactions and payments
• To create and manage payment links and invoices for lawful purposes
• To convert stablecoins to fiat currency through our offramping services
• To use our merchant tools for legitimate business operations

Prohibited Uses:

• Engaging in any fraudulent, unlawful, or harmful activities
• Money laundering, terrorist financing, or other illegal financial activities
• Violating any applicable financial regulations, sanctions, or AML laws
• Attempting to gain unauthorized access to our systems or other users' accounts
• Using the Services to process payments for illegal goods or services
• Manipulating or interfering with the proper functioning of the Services
• Creating multiple accounts to circumvent restrictions or limits

5. Identity Verification (KYC/KYB)

To comply with regulatory requirements and ensure platform security, we may require identity verification:

• Individual KYC: Personal identity verification including document upload, identity validation, and financial background assessment.
• Business KYB: Comprehensive business verification including business registration documents, ownership structure, and corporate compliance checks.
• Ongoing Monitoring: We reserve the right to request additional verification at any time to maintain compliance with applicable regulations.
• Third-Party Verification: We use Sumsub and other trusted third-party providers to perform identity verification services.

6. Payment Terms

• Transaction Fees: We may charge fees for certain Services, which will be clearly disclosed before you complete any transaction.
• Gas Fees: Blockchain transactions may incur network gas fees. For embedded wallet users, we provide gas abstraction where applicable.
• Exchange Rates: For fiat offramping services, exchange rates are determined at the time of transaction and may fluctuate based on market conditions.
• Payment Processing: All payments are processed on blockchain networks and are generally irreversible once confirmed.
• Refunds: Refunds are handled only if transactions are not processed successfully and if it is a mistake on our side.

7. Intellectual Property

Company IP

All intellectual property rights in the Services, including trademarks, logos, and content, are owned by Neda Labs Ltd. You are granted a limited, non-exclusive, non-transferable license to use the Services solely for personal or business purposes in accordance with these Terms.

User Submissions

By submitting any materials to the Services, including feedback, transaction data, or support requests, you grant the Company a worldwide, royalty-free, and non-exclusive license to use, reproduce, modify, and distribute those materials for purposes related to operating and improving the Services.

8. Privacy and Data Protection

Please refer to our Privacy Policy for information about how we collect, use, and share your information. By using our Services, you consent to the collection and use of your information in accordance with our Privacy Policy.

We implement reasonable security measures to protect your data, but cannot guarantee absolute security. You acknowledge that data transmission over the internet carries inherent risks.

9. Security and User Responsibility

You are responsible for maintaining the security of your account and wallet. This includes:

• Wallet Security: Keep your cryptocurrency wallet private keys and recovery phrases confidential. Never share this information with anyone.
• Strong Security Practices: Use strong, unique passwords and enable two-factor authentication where available.
• Regular Monitoring: Frequently review your wallet and transaction history for unauthorized activity.
• Phishing Awareness: Be cautious of phishing attempts. We will never request your wallet keys or sensitive information through unsolicited communications.
• Reporting: Immediately report any suspected unauthorized access or suspicious activity.

10. Limitation of Liability

No Warranty

The Services are provided on an "as is" and "as available" basis. We make no warranties, express or implied, regarding the Services, including but not limited to warranties of merchantability, fitness for a particular purpose, or non-infringement.

Limitation of Damages

To the maximum extent permitted by law, we will not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to:

• Loss of profits, revenues, data, or business opportunities
• Damages arising from your use or inability to use the Services
• Unauthorized access to your wallet or personal information
• Interruption or cessation of service transmission
• Blockchain network failures or delays
• Third-party service provider failures

11. Governing Law and Dispute Resolution

These Terms are governed by and construed in accordance with the laws of the jurisdiction where Neda Labs Ltd is incorporated. Any disputes arising from these Terms or your use of the Services will be resolved through binding arbitration in accordance with the rules of the relevant arbitration authority.

Before initiating any formal dispute resolution, we encourage you to contact us directly at support@nedapay.xyz to resolve any issues informally.

12. Modifications to Terms and Services

We reserve the right to modify these Terms at any time. We will notify you of material changes by posting the updated Terms on our website and updating the "Last updated" date. Your continued use of the Services after such changes constitutes acceptance of the new Terms.

We may also modify, suspend, or discontinue any aspect of the Services at any time, with or without notice. We will not be liable for any modification, suspension, or discontinuation of the Services.

13. Termination

You may terminate your use of the Services at any time by discontinuing access to our platform. We may terminate or suspend your access to the Services immediately, without prior notice, if you breach these Terms or engage in prohibited activities.

Upon termination, your right to use the Services will cease immediately. However, any transactions already initiated may continue to be processed according to blockchain network protocols.

14. Miscellaneous

• Entire Agreement: These Terms constitute the entire agreement between you and NedaPay regarding the Services.
• Severability: If any provision of these Terms is found to be unenforceable, the remaining provisions will remain in full force and effect.
• Waiver: Our failure to enforce any provision of these Terms does not constitute a waiver of that provision.
• Assignment: You may not assign your rights under these Terms without our prior written consent. We may assign our rights at any time.
• Force Majeure: We will not be liable for any failure to perform due to circumstances beyond our reasonable control.

15. Contact Information

If you have any questions about these Terms or need support, please contact us:

• Email: support@nedapay.xyz
• Legal inquiries: legal@nedapay.xyz
• Website: nedapay.xyz