AssanPay is the trading name and brand of DEVTECTS (Private) Limited. Throughout this User Policy Suite, the terms “AssanPay”, “we”, “us”, and “our” shall refer to DEVTECTS (Private) Limited operating under the AssanPay brand. For ease of reference, the name “AssanPay” is used throughout this Suite.

TERMS OF USE

These Terms govern access to and use of the AssanPay platform and related payment gateway, payment orchestration, API, hosted checkout, payment link and merchant management services made available through AssanPay.

Effective Date: June 2026

Regulatory Status

AssanPay is a technology platform operated in Pakistan by DEVTECTS (Private) Limited, a company incorporated in Pakistan and registered with the Securities and Exchange Commission of Pakistan (SECP). AssanPay is not a bank, financial institution, deposit-taking institution, electronic money institution, payment system operator, payment service provider, or any other regulated financial services entity unless expressly stated otherwise. All regulated payment activities, including transaction processing, clearing, settlement and fund transfer, are carried out by Payment Partners that hold the applicable licences and regulatory authorisations required under Pakistani law.

1. How these Terms work

These Terms apply whenever you register for, access or use AssanPay, including the AssanPay mobile application (Android and iOS), the Merchant Dashboard, the web application, hosted checkout pages, payment links and the API. Together with the Privacy Policy, the Complaints & Dispute Resolution Policy, and any Merchant Agreement or fee schedule applicable to your account, they form the agreement between you and AssanPay. If additional service-specific terms are presented for a particular service or channel, those terms apply together with these Terms.

2. Merchant eligibility and onboarding

To register for and use AssanPay, you must have the legal capacity to enter into a binding agreement under applicable Pakistani law and, if registering on behalf of a business entity, must be duly authorised to bind that entity. As part of onboarding, AssanPay may ask for information and documents such as business registration certificates, tax identification numbers, beneficial ownership declarations, identity documents, operating licences, bank account details, and any other information reasonably required for KYC/AML compliance, risk management, fraud prevention, or service delivery.

Approval to use AssanPay is at AssanPay’s sole and absolute discretion. Commencing the onboarding process does not create any obligation on AssanPay to approve a Merchant, and AssanPay may impose conditions, restrictions, or additional requirements on any approved account at any time.

3. Your AssanPay account and Merchant Dashboard

Your AssanPay account is accessed through the Merchant Dashboard, a web-based and mobile administration portal through which you can view transaction records, settlement information, reconciliation reports, refund and chargeback records, manage authorised users and access controls, and access reporting and support resources. The Dashboard is a technology interface providing access to data and management tools, and does not constitute a financial account, payment account, stored-value account, e-wallet, or regulated account of any nature.

4. Payment gateway, orchestration and API services

AssanPay provides payment gateway technology that facilitates the secure transmission of payment data and transaction information between merchants, customers and Payment Partners, and payment orchestration functionality including intelligent transaction routing, fallback and retry logic, and multi-partner connectivity. AssanPay also makes available a suite of APIs enabling merchants to programmatically integrate the platform with their own systems for transaction initiation, status queries, refund and chargeback management, reporting, and account administration. AssanPay does not guarantee specific routing outcomes, processing results, transaction approval rates, or the continuous availability of any payment channel or Payment Partner, and may update, version, or deprecate API endpoints from time to time on reasonable notice.

5. Hosted checkout and payment links

AssanPay provides hosted checkout pages and payment links that allow merchants to offer payment functionality to customers without developing or hosting their own payment interface. Hosted checkout pages and payment links are operated by or on behalf of AssanPay, route transaction instructions to Payment Partners through AssanPay’s payment gateway technology, and must not be modified, copied, or misrepresented by merchants.

6. Settlement

Transaction proceeds are processed and reconciled through payment infrastructure, Payment Partners and banking arrangements connected to the Platform and may be adjusted for applicable fees, chargebacks, refunds, reserves, settlement holds and other authorised deductions before settlement is made available to the Merchant in accordance with the operational framework applicable to the relevant payment channel. Settlement is generally targeted to be completed within approximately two (2) business days following a successfully processed transaction (T+2). This target is indicative and operational only, does not create a contractual entitlement, and may be delayed or varied depending on the payment channel involved (including mobile wallet channels, bank transfer channels, card payment channels and other payment methods), Payment Partner schedules, compliance reviews, outstanding disputes, applicable legal or regulatory requirements, or a Force Majeure Event.

7. Reserves and settlement holds

Risk-based reserves, settlement holds, delayed settlements, rolling reserves, processing restrictions, or similar risk management measures may be applied in connection with a Merchant account, including where reasonably considered necessary for fraud prevention, risk management, compliance monitoring, settlement protection, chargeback exposure management, operational integrity, or regulatory compliance, where there is an elevated risk of chargebacks, disputes, or fraudulent transactions, an outstanding compliance review, unresolved chargebacks or disputes, instructions from a competent authority or Payment Partner, or where otherwise reasonably necessary to manage financial, regulatory, or reputational risk. Where reasonably practicable, the Merchant may be notified in writing of the application, amount and basis of any reserve or hold where reasonably practicable and not prejudicial to a fraud investigation, regulatory process, or court order.

8. Fees, charges and taxes

Fees applicable to your use of AssanPay including per-transaction processing fees, platform access or subscription fees, API fees, chargeback fees, reserve-related charges, refund processing fees, and any Payment Partner or card network fees passed through to you are set out in your Merchant Agreement or the applicable fee schedule. AssanPay may revise fees on not less than thirty (30) days’ written notice, except where a shorter period is required by a Payment Partner’s fee revision or applicable regulation. All fees are stated exclusive of applicable taxes unless expressly stated otherwise, and you are solely responsible for all taxes arising from your use of AssanPay and your business activities. AssanPay may deduct or set off unpaid fees, chargeback amounts, reserve amounts, and any other amounts owed by you from settlement proceeds.

9. Refunds

AssanPay provides technology tools through the Merchant Dashboard and API enabling merchants to initiate and manage refund requests. The processing, routing and settlement of refunds is carried out through Payment Partners and is subject to the rules of the applicable payment scheme and the operational constraints of the relevant Payment Partner; indicative timelines may range from three (3) to twenty-one (21) business days depending on the payment method and issuing bank. AssanPay does not guarantee any specific refund timeline, does not guarantee that partial refunds will be available for all payment channels, and is not liable for refund delays or failures caused by Payment Partners or issuing banks. Each merchant must maintain a clear, accurate, and prominently displayed refund policy for its customers and honour its refund commitments in accordance with that policy and applicable consumer protection law.

10. Chargebacks

A chargeback is a reversal of a payment transaction initiated by a customer through the customer’s issuing bank, card network, or payment scheme, governed by the rules and procedures of the applicable card network or payment scheme and processed through Payment Partners. Each merchant is solely and fully liable for all chargebacks arising from transactions processed through its account, regardless of the cause of the chargeback, and chargeback fees apply regardless of the outcome of any dispute. AssanPay provides technology tools assisting merchants in receiving chargeback notifications and submitting representment responses through the Merchant Dashboard, but the adjudication and outcome of any chargeback is determined exclusively by the relevant card network or payment scheme and is final and binding. Where a merchant’s chargeback ratio exceeds thresholds established by AssanPay, a Payment Partner, or a card network, AssanPay may require additional fraud prevention measures, impose increased reserves or settlement holds, or restrict, suspend, or terminate access to AssanPay.

11. Payment Partners and third-party channels

AssanPay connects merchants with Payment Partners — licensed banks, financial institutions, payment service providers, card networks, mobile wallet operators, and other regulated entities — that perform regulated activities such as transaction processing, clearing, settlement and fund transfer in connection with the platform. The availability, processing times, fees, and operational rules of any Payment Partner or payment channel are determined independently by that party and are outside AssanPay’s control. AssanPay is not responsible for the independent terms, conduct, or performance of any Payment Partner or other third party, although those terms may affect your use of AssanPay.

12. Prohibited businesses and activities

AssanPay must not be used by, on behalf of, or for the benefit of any business engaged in, or for the purpose of facilitating, any unlawful, fraudulent, or deceptive activity. Without limitation, AssanPay must not be used in connection with: controlled substances or narcotics without valid authorisation; unlicensed gambling, betting, or lottery activities; transactions involving persons, entities, or territories subject to applicable financial sanctions; counterfeit, pirated, or infringing goods; unlicensed financial services such as money lending, deposit-taking, or remittance; fraudulent investment, Ponzi, or pyramid schemes; illegal or abusive content, including content inciting violence or terrorism; adult entertainment or sexual services; unlicensed weapons, firearms, or ammunition; tobacco, e-cigarette, or vaping products sold in violation of applicable law; cryptocurrency exchanges, virtual asset service providers (VASPs), token sales, initial coin offerings (ICOs), digital asset trading, crypto wallets, crypto payment processing, or any other cryptocurrency-related activity, whether licensed or unlicensed; or any other business that AssanPay determines, in its sole discretion, presents unacceptable legal, regulatory, financial, or reputational risk. AssanPay may monitor account and transaction activity at any time, request supporting documentation, and report suspicious activity to competent authorities where required or permitted by law.

13. Acceptable use and account security

You must use AssanPay only for your approved and disclosed business activities, in compliance with applicable Pakistani law and the policies and rules of Payment Partners and card networks. You must not: introduce malware, viruses, or other malicious code; attempt unauthorised access to AssanPay’s systems, infrastructure, or the systems of any Payment Partner; deploy bots, crawlers, or scrapers without prior written authorisation; reverse-engineer or decompile the platform; circumvent fraud detection, AML screening, sanctions screening, or KYC processes; or use AssanPay to process transactions unrelated to your approved business activities.

You are solely responsible for the security and confidentiality of your account credentials and for all activity conducted through your account, must implement appropriate access controls for authorised personnel, and must promptly notify AssanPay at support@assanpay.com upon becoming aware of any suspected unauthorised access, credential compromise, or security incident. AssanPay shall not be liable for losses arising from unauthorised access where you have failed to maintain adequate account security or to notify AssanPay promptly of a known or suspected breach.

14. Data handling and privacy

By registering for or using AssanPay, you acknowledge that AssanPay may collect, use, access, process, retain, share, and disclose personal and business information in accordance with the Privacy Policy, applicable law, lawful directions of competent authorities, and reasonable operational requirements connected with the AssanPay platform and services. You should read the Privacy Policy carefully, as it forms part of your agreement with AssanPay.

15. Intellectual property

AssanPay and its licensors own all intellectual property rights in and relating to the platform, including all software, source code, algorithms, system architecture, APIs, documentation, user interface designs, and the “AssanPay” name, logo, brand identity, and associated trademarks. Subject to these Terms and your Merchant Agreement, AssanPay grants you a limited, non-exclusive, non-transferable, revocable licence to access and use the platform solely for your approved and disclosed business purposes. You must not sublicense, copy, modify, create derivative works from, reverse-engineer, or otherwise misuse any part of the platform, the Documentation, or AssanPay’s branding without AssanPay’s prior written consent. You retain ownership of your own business information and data; by submitting it to the platform, you grant AssanPay a non-exclusive, royalty-free licence to use it to the extent necessary to provide the services.

16. Confidentiality

Each party agrees to hold the other party’s confidential information including technical specifications, API credentials, business strategies, pricing and fee structures, and transaction, merchant, and customer data in strict confidence, and to use it only for the purposes of performing its obligations under this Suite. AssanPay may disclose merchant information to Payment Partners, legal advisers, auditors, technology service providers, and regulatory authorities to the extent reasonably necessary to operate the platform and comply with applicable obligations, or where required by applicable law, court order, or regulatory direction. Confidentiality obligations survive the termination of the platform relationship for a period of five (5) years.

17. Suspension, termination and account closure

AssanPay may suspend, restrict, or terminate your access to AssanPay, in whole or in part and with immediate effect where permitted by law, where: you have breached this Suite or your Merchant Agreement; there is suspected or confirmed fraud, money laundering, or other unlawful conduct; you are engaged in a prohibited business or activity; a compliance review requires suspension; AssanPay has received instructions from a Payment Partner, card network, regulator, law enforcement agency, or court; your chargeback ratio exceeds applicable thresholds; or continuation of your account presents unacceptable legal, regulatory, financial, or reputational risk. Either party may otherwise terminate the platform relationship on not less than thirty (30) days’ written notice without assigning cause.

On termination: your access to AssanPay ceases immediately or upon expiry of the notice period; all outstanding fees, chargeback liabilities, and reserve obligations remain due and payable; you must immediately cease use of the AssanPay name, brand, and trademarks and terminate any API integration; and provisions that by their nature survive termination — including confidentiality, intellectual property, limitation of liability, and dispute resolution — continue in full force and effect.

18. Liability and indemnity

Nothing in these Terms excludes liability that cannot lawfully be excluded or limited under applicable Pakistani law. Subject to that, AssanPay, its directors, officers, employees, and affiliates will not be liable for indirect, special, incidental, or consequential losses, loss of profit, revenue, business, goodwill, or data, or for losses arising from the acts, omissions, or insolvency of any Payment Partner, banking institution, or card network, platform downtime or processing errors, settlement delays or the application of reserves or settlement holds in accordance with this Suite, or chargeback and dispute outcomes determined by card networks or payment schemes. Where AssanPay’s liability cannot be entirely excluded, its aggregate liability to you arising out of or in connection with this Suite shall not exceed the total fees actually paid by you to AssanPay during the three (3) calendar months immediately preceding the event giving rise to the claim.

You agree to fully indemnify, defend, and hold harmless AssanPay, its directors, officers, employees, agents, Payment Partners, and affiliates from all claims, losses, liabilities, costs, and expenses arising out of or in connection with: any breach by you of this Suite or your Merchant Agreement; any use or misuse of AssanPay by you or your personnel; your business activities, products, services, or commercial conduct, including customer claims; any chargeback, fine, or penalty imposed by a card network, Payment Partner, or regulator in connection with your transactions or chargeback ratio; any intellectual property infringement arising from content or data you submit; or any violation by you of applicable law.

19. Force majeure

AssanPay will not be in breach of this Suite, nor liable for any failure or delay in performing its obligations, to the extent that such failure or delay results from circumstances beyond its reasonable control, including acts of God, natural disasters, pandemic or epidemic, war, terrorism or civil unrest, government action or change in law, internet or telecommunications failures, cyberattacks, or the failure, suspension, outage, restriction or insolvency of Payment Partners or other third-party service providers (a “Force Majeure Event”). AssanPay will notify you as soon as reasonably practicable upon the occurrence of a Force Majeure Event and will use commercially reasonable efforts to mitigate its effects. If a Force Majeure Event persists for more than sixty (60) consecutive days, either party may terminate the platform relationship on written notice without liability, save for amounts due and payable prior to the event.

20. Complaints and disputes

Any complaint about AssanPay, or any dispute concerning a transaction, settlement, refund, chargeback, reserve, settlement hold, processing restriction, delayed settlement, or other risk management measure, should be raised through AssanPay’s support channels with sufficient detail to identify the matter. The Complaints & Dispute Resolution Policy forms part of this Suite and explains the general handling framework, including escalation to good-faith negotiation and, where necessary, binding arbitration in Karachi, Pakistan.

21. Governing law and miscellaneous

These Terms are governed by the laws of Pakistan. Subject to the dispute resolution and arbitration provisions of the Complaints & Dispute Resolution Policy, the courts of Karachi, Pakistan have exclusive jurisdiction over any matter arising out of or in connection with this Suite. If any provision of this Suite is found invalid, unlawful, or unenforceable, that provision shall be severed without affecting the remaining provisions. AssanPay does not act as an agent of any merchant, and nothing in this Suite creates a partnership, joint venture, or employment relationship. AssanPay may assign, transfer, or novate its rights and obligations under this Suite to a successor entity or affiliate without your prior consent; you may not assign, transfer, or subcontract your rights or obligations without AssanPay’s prior written consent. This Suite, together with your Merchant Agreement and any applicable fee schedule, constitutes the entire agreement between you and AssanPay and supersedes all prior discussions and agreements relating to its subject matter.

22. Key definitions

In this Suite, unless the context requires otherwise, the following expressions have the meanings below.