Terms of Service

1. The Services

Paynet is a payment service aggregator. We provide technical infrastructure that lets you accept payments from your customers through third-party payment processors operating in Armenia (including ARCA card processing, Idram, Telcell, and partner banks), and to issue electronic fiscal receipts through the State Revenue Committee (SRC) e-HDM system.

Paynet is not a bank and does not hold your funds. Settlement of payments is performed by the underlying processor or acquiring bank under your agreement with them, unless explicitly agreed otherwise in writing.

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.

We may require identity and business verification documents (KYC) before or after activating live payment processing, and may suspend processing until verification is complete.

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. Fees and billing

Paynet charges subscription and/or usage fees as published on our pricing page or agreed with you in writing. Fees are invoiced in Armenian dram (AMD). Unpaid invoices may result in suspension of the Services after reasonable notice. Processor or bank fees charged under your direct agreements with those institutions are separate from Paynet fees.

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.

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 using the credentials and registration you obtained from 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.

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. 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 fees you paid to Paynet 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 stop using the Services and close your account at any time. We may suspend or terminate the Services for breach of these Terms, legal or risk reasons, or non-payment, with notice where reasonably practicable. Upon termination, your transaction records remain available for export for 30 days, after which they may be deleted subject to our legal retention obligations.

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.

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.