Terms of Service

1. Acceptance of Terms

By accessing or using the RMA Payment Gateway services, you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, you may not use our services.

1.1 Agreement to Terms

These Terms constitute a legally binding agreement between you and the Royal Monetary Authority of Bhutan ("RMA", "we", "us", or "our"). By using our services, you represent that:

• You have read and understood these Terms
• You have the legal authority to enter into this agreement
• You will comply with all applicable laws and regulations
• All information provided is accurate and complete

1.2 Updates to Terms

We reserve the right to modify these Terms at any time. We will notify you of material changes through:

• Email notifications to your registered address
• Prominent notices on our website
• In-app notifications in your client dashboard

Continued use of our services after such modifications constitutes acceptance of the updated Terms.

2. Definitions

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

3. Services Provided

3.1 Payment Processing Services

RMA Payment Gateway provides the following services:

• Payment Processing: Secure processing of electronic payments from all major Bhutanese banks
• Transaction Management: Real-time transaction monitoring, reporting, and reconciliation
• API Access: RESTful API for integrating payment functionality into your applications
• Security Services: Fraud detection, risk management, and compliance monitoring
• Customer Support: Technical support and assistance with integration and operations

3.2 Service Availability

We strive to maintain 99.9% uptime for our services. However, we do not guarantee uninterrupted service and may experience downtime for:

• Scheduled maintenance and updates
• Emergency security patches
• Force majeure events beyond our control
• Third-party service provider outages

3.3 Service Limitations

Our services are subject to certain limitations:

• Transaction limits as defined in your service agreement
• Supported currencies (primarily BTN - Bhutanese Ngultrum)
• Geographic restrictions (primarily Bhutan-based transactions)
• Compliance with local banking regulations

4. Account Registration

4.1 Eligibility Requirements

To register for our services, you must:

• Be a legally registered business entity in Bhutan
• Have a valid business license and tax registration
• Provide accurate and complete registration information
• Designate authorized representatives for account management
• Comply with all applicable laws and regulations

4.2 Account Verification

All accounts are subject to verification, which may include:

• Identity verification of business owners and authorized users
• Business license and registration document review
• Bank account verification and authorization
• Compliance screening and risk assessment

4.3 Account Security

You are responsible for:

• Maintaining the confidentiality of your account credentials
• Implementing appropriate security measures for API access
• Promptly notifying us of any suspected security breaches
• Regularly updating your account information

5. Acceptable Use Policy

5.1 Permitted Uses

You may use our services for legitimate business purposes, including:

• Processing payments for goods and services
• Managing subscription and recurring payments
• Handling refunds and customer service transactions
• Generating reports and analytics for business purposes

5.2 Prohibited Activities

You may not use our services for:

• Illegal activities or transactions
• Money laundering or terrorist financing
• Processing payments for prohibited goods or services
• Fraudulent or deceptive practices
• Violating intellectual property rights
• Circumventing security measures or access controls
• Interfering with or disrupting our services

5.3 Compliance Requirements

You must comply with:

• All applicable laws and regulations in Bhutan
• RMA guidelines and banking regulations
• Anti-money laundering (AML) requirements
• Know Your Customer (KYC) obligations
• Data protection and privacy laws

6. Fees and Charges

6.1 Service Fees

Our fee structure includes:

• Transaction Fees: Percentage-based fees on successful transactions
• Setup Fees: One-time fees for account setup and integration
• Monthly Fees: Recurring fees for account maintenance and support
• Additional Services: Fees for premium features and custom integrations

6.2 Fee Schedule

6.3 Payment Terms

Fees are charged as follows:

• Transaction fees are deducted automatically from each transaction
• Monthly fees are charged in advance on the first day of each month
• Setup fees are charged upon account activation
• All fees are non-refundable unless otherwise specified

7. Payment Processing

7.1 Transaction Processing

We process transactions according to the following procedures:

• Real-time authorization and validation
• Secure transmission to appropriate banking networks
• Status updates and confirmation notifications
• Settlement processing according to banking schedules

7.2 Settlement and Payouts

Transaction settlements are processed as follows:

• Standard Settlement: T+2 business days
• Express Settlement: T+1 business day (additional fees apply)
• Instant Settlement: Real-time (for qualified merchants)

7.3 Refunds and Chargebacks

Refund and chargeback handling includes:

• API-based refund processing
• Automatic chargeback notifications
• Dispute management and representation
• Chargeback fee recovery

10. Limitation of Liability

10.1 Service Disclaimers

Our services are provided "as is" without warranties of any kind. We disclaim all warranties, express or implied, including:

• Warranties of merchantability and fitness for a particular purpose
• Warranties of uninterrupted or error-free service
• Warranties regarding third-party services or integrations

10.2 Limitation of Damages

To the maximum extent permitted by law, our liability is limited to:

• Direct damages only (no indirect, consequential, or punitive damages)
• Maximum liability of fees paid in the 12 months preceding the claim
• No liability for business interruption or lost profits

11. Termination

11.1 Termination by Client

You may terminate your account at any time by:

• Providing 30 days written notice
• Completing all pending transactions
• Settling any outstanding fees or obligations
• Following our account closure procedures

11.2 Termination by RMA

We may terminate your account immediately for:

• Violation of these Terms or our policies
• Suspected fraudulent or illegal activity
• Failure to pay fees or charges
• Regulatory or compliance requirements

11.3 Effect of Termination

Upon termination:

• Your access to services will be immediately suspended
• Pending transactions will be processed according to normal procedures
• Final settlement will occur within 30 days
• Data retention will follow our privacy policy

13. Contact Information

For questions about these Terms of Service, please contact us: