Terms of Service

1. The Services

Paynet is a payment gateway aggregator for merchants in Armenia. We provide the technical layer that connects your website or app to the payment provider you hold a contract with: an ARCA member bank for card payments, or a wallet such as Idram, Telcell or Arca QR. For each payment, Paynet sends your customer to the provider's payment page or calls the provider's API with your credentials, and reports the result back to you. On your instruction, Paynet also transmits fiscal receipts to the State Revenue Committee (SRC) e-HDM system.

Paynet is not a bank, a money transmitter or an electronic money issuer. Paynet never holds, receives or settles your customers' money. Funds move between your customer and your payment provider under your own agreement with that provider, which settles them to you. That agreement, including its fees, limits and dispute rules, is separate from these Terms.

2. Account registration and eligibility

You must provide accurate, complete information when registering and keep it up to date. The Services are intended for businesses and entrepreneurs registered in the Republic of Armenia or otherwise legally entitled to accept payments in Armenia. You are responsible for all activity under your account and for keeping your credentials, API keys, and signing secrets confidential.

Before you can accept live payments or buy units, we verify your business. You provide your legal name, legal form, tax identification number (TIN), registered address and phone number, together with your state registration certificate, your TIN certificate and the identity document of the person authorised to act for the business. Our staff review the documents within one to two business days and may ask for more information. A small number of accounts were activated before this verification existed; we may ask those accounts to complete it.

3. Prohibited businesses and use

You may not use the Services for any activity that is illegal under the laws of the Republic of Armenia or the rules of the card schemes and processors we integrate with - including, without limitation: fraud, money laundering, financing of terrorism, sale of illegal goods, unlicensed gambling, unlicensed financial services, or the sale of counterfeit goods.

We may suspend or terminate accounts that, in our reasonable judgment, present legal, financial, or reputational risk.

4. Pricing and prepaid units

Paynet has no subscriptions, plans or monthly fees. You buy prepaid units, and they are consumed as you use the Services. Each completed live payment consumes one payment unit, priced at 20 AMD. Payments under 500 AMD, test payments, and failed or abandoned payment attempts consume nothing. Each e-HDM fiscal receipt consumes one receipt unit, priced at 3 AMD. A receipt issued for a payment taken through Paynet is free.

Every new account receives 200 payment units and 500 receipt units free of charge. Units never expire.

You buy units in the dashboard, at least 100 payment units or 1,000 receipt units per purchase, either by bank transfer to Digital Brains LLC or by card through Whop, a third-party platform that acts as merchant of record for card purchases. Whop's own terms and privacy policy apply to the card payment itself.

Units are a count of services, not money. They are not a deposit or stored value, they cannot be transferred to another account, and they cannot be exchanged for cash. Unused purchased units are not refundable except where the law requires otherwise. The free units granted at signup are never refundable.

When your balance reaches zero, Paynet may let a limited number of further payments through (currently up to 50 payments and 1,000 receipts) so that your checkout does not stop without warning. After that, new payments are refused until you buy more units. The dashboard shows your balance and warns you as it runs low.

We may change unit prices with at least 30 days' notice shown in the dashboard. Units you already own are not affected by a price change. Fees charged by your bank or wallet provider under your own agreement with them are separate from Paynet's prices.

5. Payments, refunds, and chargebacks

You are responsible for the goods and services you sell, including delivery, quality, refunds, and customer support. Chargebacks, refunds, and disputes are governed by the rules of the relevant processor or card scheme and your agreement with the acquiring institution. You agree to maintain a clear refund policy and to honor it.

You must hold a valid agreement with the bank or wallet provider you connect to Paynet and use only the credentials that provider issued to you. You must publish your own terms of sale, privacy notice and refund policy on your site, and handle delivery, refunds and support for what you sell. Your tax compliance is your own responsibility, including issuing fiscal receipts where the law requires them. The Sandbox test provider is for testing only and must never be used to take a real order.

6. Fiscal receipts (e-HDM)

Where you activate the e-HDM service, Paynet transmits receipt data to the SRC electronic cash register system on your behalf. You register with the SRC and obtain your e-HDM certificate yourself. Paynet transmits receipts using that certificate and your registration details, including your TIN, and cannot register or deregister you with the SRC. You are solely responsible for the accuracy of fiscal data (tax regime, items, amounts) and for your compliance with Armenian tax legislation. Paynet provides the technical transmission only and does not provide tax advice.

A receipt issued for a payment taken through Paynet is free. A standalone receipt, issued for a sale that was not paid through Paynet, consumes receipt units as described in section 4.

7. API, plugins, and acceptable use

We grant you a limited, non-exclusive, revocable license to use our APIs, SDKs, and plugins to integrate the Services with your own websites and applications. You may not resell the Services, attempt to bypass security controls, probe or overload our infrastructure, or use the Services to process payments for third parties without our written consent.

8. Security obligations

You must keep API keys and webhook signing secrets confidential, use HTTPS on all integration endpoints, and verify webhook signatures. You must notify us without undue delay at the support address below if you suspect your credentials are compromised. We may rotate or revoke credentials to protect the platform.

9. Data protection

Each party shall comply with applicable data protection legislation of the Republic of Armenia. Our processing of personal data is described in the Privacy Policy, which forms part of these Terms.

10. Availability and support

We aim to provide the Services continuously but do not guarantee uninterrupted availability. Current and past availability is published at paynet.am/status. Planned maintenance will be announced where practicable. The Services depend on third-party processors and the SRC system; we are not responsible for their outages. Support is provided via email during Armenian business hours.

11. Liability

To the maximum extent permitted by law, Paynet's aggregate liability arising out of or related to the Services in any 12-month period is limited to the amounts you paid to Paynet for units during that period. Paynet is not liable for indirect or consequential damages, lost profits, or losses caused by processor failures, SRC system failures, or your own integration errors.

Nothing in these Terms excludes liability that cannot be excluded under the laws of the Republic of Armenia.

12. Suspension and termination

You may close your account at any time from Settings (Danger zone). Closing the account deactivates it immediately, signs you out, and revokes your API keys and connect tokens, so export anything you need first using the CSV export in the dashboard. Transaction, receipt and unit-ledger records are kept after closure for as long as Armenian accounting and tax law requires. Other personal data is deleted in line with the retention periods in the Privacy Policy.

We may suspend or terminate the Services for fraud, abuse, breach of these Terms, legal or risk reasons, or an unsettled negative unit balance, with notice where reasonably practicable.

13. Changes to these Terms

We may update these Terms from time to time. Material changes will be notified via email or the dashboard at least 14 days before they take effect. Continued use of the Services after the effective date constitutes acceptance. Changes to unit prices follow the separate 30 days' notice described in section 4.

14. Governing law and disputes

These Terms are governed by the laws of the Republic of Armenia. Disputes shall be resolved by the competent courts of Yerevan, Armenia, unless mandatory law provides otherwise.