GENERAL TERMS AND CONDITIONS OF “IRIS SOLUTIONS” AD REGARDING THE USE OF THE “PAYMENT TERMINAL” PRODUCT

I. Definitions

Art. 1. (1) For the purposes of these General Terms and Conditions, the terms listed below shall have the following meaning unless the context requires otherwise:

“Provider” means Iris Solutions AD, UIC 208455895, licensed to provide payment services pursuant to BNB Decision No. 316/17.09.2019;

“Product” or “Payment Terminal” means a software solution of the Provider that is installed and/or integrated with the Merchant’s systems, enabling the exchange of information between the Merchant and its clients and allowing the acceptance of payments (from an account and/or bank card) for goods/services of the Merchant. Payments may relate to:

• payment for goods/services in the Merchant’s online store;

• payment for goods/services in the Merchant’s physical store;

• payment of invoices issued by the Merchant;

“General Terms and Conditions” means these General Terms and Conditions of Iris Solutions AD regarding the use of the “Payment Terminal” Product;

“Merchant” means a person engaged in commercial activity or providing services professionally, offering goods/services that may be paid for through the Product;

“Transaction” means a payment operation executed through the Product to the Merchant’s account held with a bank/payment institution.

“Users” means Merchants and their clients who use the Provider’s Payment Terminal Product.

(2) Unless the context requires otherwise, words in the singular shall include the plural and vice versa.

Art. 2. These General Terms and Conditions apply to the use of the Product. By using the Product, every Merchant must accept and comply with the General Terms and Conditions.

II. Merchant Requirements for Access to the Product Functionalities

Art. 3. (1) A prerequisite for obtaining access to the Product is that the Merchant enters into an agreement with the Provider governing the use of the Product and is approved by the Provider.

(2) Approval under para. 1 is granted upon fulfillment of the following conditions:

• The Merchant must provide the registration details and beneficial ownership information required by the Provider;

• The Merchant’s activity must involve the provision of goods and/or services permitted by applicable law. If the Merchant’s activity is subject to licensing or authorization, they must provide evidence of such license/permit;

• The Merchant must have a good reputation and comply with applicable legal requirements relevant to their activity.

Art. 4. (1) Upon approval, the Provider shall supply software (plug-in, app, or other) to the Merchant, which must be installed and/or integrated with their systems in order to use the Product.

(4) Proper use and full functionality of the Product may require compliance with additional requirements specified by the Provider.

Art. 5. The Provider shall supply the Merchant with detailed instructions for using the Product, tailored to the nature of the expected payments from clients (online store, physical store, and/or invoice payments), before the Merchant begins using the Product.

Art. 6. In case of suspicion or detection of irregularities related to the information or actions provided by the Merchant, or in order to limit the possibility of unlawful actions, the Provider may unilaterally restrict the functionality of the Product, including payment limits through the Payment Terminal. Restrictions may relate to: the number of Merchant accounts receiving payments; the maximum amount per Transaction; the number and value of Transactions from a particular client; the types of goods/services for which payments are accepted, etc. The Merchant shall be duly notified.

III. Use of the Product

Art. 7. Payments through the Product may be initiated by the Merchant or the respective client, with the client required to approve the Transaction. The specific method of initiating and executing Transactions shall be specified by the Provider in the instructions under Art. 5 or in another appropriate manner.

Art. 8. (1) The Provider shall notify the Merchant electronically (via the Product and/or email) of each successful payment through the Payment Terminal.

(2) Through the Product, the Merchant may monitor and receive information on the executed Transactions.

Art. 9. (1) The Merchant may receive promotional materials and may coordinate such materials with the Provider for the purpose of promoting the Product.

(2) The Merchant may participate in marketing campaigns or coordinate independent campaigns with the Provider for the purpose of promoting the Product.

IV. Liability

Art. 10. (1) The Provider may perform checks on Transactions to determine whether there are unlawful and/or suspicious operations or complaints from Users.

(2) In case of a complaint, the Provider shall request information from the Merchant, granting an appropriate deadline for response, not shorter than 3 business days.

(3) If an unlawful, improper, or suspicious operation is confirmed, or a complaint is upheld, the Merchant shall refund the received amount at its own expense and perform other actions specified by the Provider. The Provider may require additional measures to remedy damages, to the extent permitted by law and necessary based on the specific case.

Art. 11. (1) In case of suspicion (until clarification) or verified cases of unlawful actions, the Provider may unilaterally block, fully or partially, the Merchant’s ability to use the Payment Terminal, without owing compensation, and shall notify the Merchant accordingly.

(2) Information under para. 1 may be shared with competent authorities.

Art. 12. The Provider shall use reasonable efforts to ensure continuous acceptance of Transactions through the Product (24/7), but is not liable if payments are not processed due to issues caused by the respective bank/payment institution servicing the account.

V. Fees

Art. 13. For use of the Product, the Provider shall charge fees to Merchants as agreed in their individual contracts or in the Provider’s Tariff.

Art. 14. If the Merchant uses additional services, additional fees may apply in accordance with the Provider’s Tariff.

VI. Termination and Changes to Access and Functionality

Art. 15. Unless otherwise agreed in the individual contract, the Merchant may terminate use of the Product at any time and may remove an account in a specific bank/payment institution from the scope of the Product.

Art. 16. (1) The Provider shall use reasonable efforts but does not commit to uninterrupted operation of the Product and reserves the right to terminate the Merchant’s access without prior notice. The Provider may modify the Product’s functionalities, including limiting or disabling access, without prior notice. The Provider shall use reasonable efforts to notify the Merchant in advance about planned changes or termination of access.

(2) The Provider shall inform the Merchant and provide detailed instructions in case modifications to the Product require additional installation, integration, or changes in the Merchant’s systems.

VII. Miscellaneous

Art. 17. (1) If the Merchant notices a malfunction while using the Product, they may contact the Provider using the following details:

Iris Solutions AD
UIC 208455895
Address: Sofia, Tsarigradsko shose Blvd. 111B, Sofia Tech Park, Incubator Building, Floor 1
Email: sales@irisbgsf.com

(2) The Provider shall review the request and notify affected Users electronically of its decision within 7 days. If the deadline cannot be met and/or additional information is needed, Users shall be notified electronically.

Art. 18. The Provider undertakes to assist the Merchant with questions, issues, and malfunctions using the correspondence details specified in Art. 16.

Art. 19. (1) The Provider may amend these General Terms and Conditions and shall send notice to the Merchant through the Product. Notification of the amendments shall also be published on the Provider’s website.

(2) Amendments apply to a Merchant only if the Merchant accepts them. If the Merchant does not accept the amendments, the Provider may partially or fully restrict use of the Product.

(3) If the Merchant does not accept the amendments, they may terminate the framework agreement at any time before the amendments take effect, without liability for costs or compensation.

Art. 20. If a provision of these General Terms and Conditions is declared invalid, unlawful, or unenforceable by a court or similar authority, all other provisions shall remain fully valid and effective.

Art. 21. For matters not regulated in these General Terms and Conditions, the applicable law of the Republic of Bulgaria shall apply.

 

These General Terms and Conditions were adopted and entered into force on 20.01.2020.
Last amendment: 08.11.2024.