PayAlli Terms for Business Users
Version 1.0 Published on 14.11.2024
1. What can I find in this document?
This document defines the terms and conditions for sole traders, partnerships, companies, or other legal entities (“merchant”) when the merchant uses SINDI FINANCIAL SERVICES INC. (O/A PayAlli) services and features, as described in these terms, which may be amended from time to time. If you are using PayAlli services as an individual consumer, please check the Terms for Individual Users.
When the merchant creates an account with PayAlli, the merchant enters into an agreement with SINDI FINANCIAL SERVICES INC., a company registered in Canada at 792 KENNEDY ROAD, SUITE 204, SCARBOROUGH, Ontario, Canada, M1K2C8, under FINTRAC Registration Number M08165858 (“PayAlli,” “we,” “us,” or “our”).
As the person applying for a PayAlli account on behalf of the merchant (“you” or “your”), you confirm that you have the legal authority to enter into this agreement and act on behalf of the merchant. These terms constitute the core agreement between the merchant and PayAlli. By accepting these terms and applying for an account, you confirm that you have read and understood these terms in English. Any translations we may provide are for your convenience only and are not binding.
If a topic is not covered here, it may be subject to supplementary terms. Please check our website for a list of all supplementary terms that may apply to merchants.
2. What is PayAlli?
PayAlli is a Money Services Business registered with FINTRAC in Canada. Through our services, merchants can:
- Create an account for holding and transferring funds in multiple currencies.
- Exchange funds between currencies at competitive rates.
- Make payments to vendors or withdraw funds using the PayAlli platform.
- Issue invoices for business transactions.
- Access APIs for integration with external systems.
These services may be subject to additional requirements or restrictions as explained in these terms or additional terms applicable to specific products.
Merchants will be charged a monthly subscription fee based on the pricing plan they choose. Additional fees may apply for services not covered by the subscription or for exceeding free allowances. All charges will be automatically deducted from the merchant’s account.
If the merchant’s account does not have sufficient funds to cover fees, PayAlli reserves the right to deduct charges from future account balances, display a negative balance, or initiate debt collection procedures.
3. How to open a PayAlli account
To use our services, the merchant must register and open an account. Merchants may only hold one business account at a time. Registration requires providing information about the merchant's legal entity, shareholders, directors, and ultimate beneficial owners.
The merchant may be required to submit valid identification documents, proof of address, and other necessary information. PayAlli will verify the documents and may request additional information before or after registration. If documents are illegible, expired, or otherwise invalid, the account application may be rejected.
By registering, the merchant confirms that all information provided is accurate and up-to-date. Changes to the merchant's information must be reported promptly.
4. PayAlli Account and API Access
The PayAlli account serves as a multi-currency wallet that allows merchants to hold and transfer funds, exchange currencies, and manage payments. Merchants can access their accounts via the PayAlli web platform or mobile app.
For business users, PayAlli also provides API access for seamless integration with third-party systems. API access requires secure authentication, including API keys and certificates.
5. Transactions
Merchants can use PayAlli to:
- Add funds (top-up): Top-ups can be made using various payment methods, subject to limits specified in the pricing plan.
- Transfer funds: Local and international transfers are supported, including SEPA and SWIFT. Merchants must ensure transaction details are accurate to avoid errors or delays.
- Exchange currencies: Merchants can exchange funds between supported currencies. If insufficient funds exist in the target currency, PayAlli may exchange funds automatically from other currency balances.
- Make payments: Merchants can use the PayAlli platform to pay vendors or withdraw funds.
Transactions are monitored to ensure compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. PayAlli may request additional documentation for certain transactions or reject transactions deemed suspicious.
6. Fees and Charges
Merchants will be charged subscription fees based on their selected pricing plan. Additional fees may apply for:
- Exceeding free transaction allowances.
- Using services not included in the subscription.
- Currency exchanges at non-standard rates.
All applicable fees will be displayed in the merchant’s account or pricing plan.
7. Account Security
Merchants are responsible for safeguarding login credentials, payment instruments, and associated devices. Unauthorized access must be reported to PayAlli immediately via support@payalli.net.
8. Refunds and Disputes
Merchants may request refunds for unauthorized transactions within 30 days of the transaction date. PayAlli will investigate and process refunds in compliance with applicable laws and policies.
If disputes arise regarding transactions or services, merchants may contact PayAlli’s support team for assistance.
9. Account Suspension or Termination
PayAlli reserves the right to suspend or terminate accounts under certain conditions, including:
- Breach of these terms or applicable laws.
- Failure to provide required documentation.
- Fraudulent or suspicious activity.
Merchants may close their accounts by providing written notice to PayAlli.
10. Changes to these Terms
PayAlli may update these terms periodically. Merchants will be notified at least 14 days in advance of any changes unless changes are required by law or are minor corrections.
11. Privacy Policy
PayAlli processes personal data in accordance with its Privacy Policy. For more details, please visit: https://payalli.net/privacy-policy/page/42.
12. Governing Law
These terms are governed by the laws of Canada. Any disputes will be resolved in accordance with Canadian law.
13. Contact Information
If you have questions or need assistance, please contact us:
- Email: support@payalli.net
- Address: 792 KENNEDY ROAD, SUITE 204, SCARBOROUGH, Ontario, Canada, M1K2C8