FRAMEWORK AGREEMENT FOR PAYMENT SERVICES


The Agreement is made by and between PashaPay and the Customer.

Hereinafter PashaPay and the Customer may individually be referred to as a “Party”, and jointly referred to as “Parties”.

Please do note that by clicking the “I agree” button, you express your intention to be bound by the Agreement as per the laws of the Republic of Azerbaijan.

Defined terms


PashaPay – “PashaPay” MMC, a payment service provider.

Customer – A natural person making use of payment services provided on M10 platform. By clicking the “I Agree” button to consent to the Agreement, you become a Customer for purposes of the Agreement.

Agreement – This framework agreement for payment services between PashaPay and the Customer.

M10 platform – A application or website whose all property and intellectual property rights belong to PashaPay, accessed by the Customer via an electronic device to use payment services.

Device – A mobile phone, tablet, or other computing device by which the Customer accesses the m10 platform online.

Payment account – An account opened with PashaPay through m10 platform to provide payment services to the Customer.

Electronic wallet or e-wallet – An electronic wallet operated in a payment account opened in the name of the Customer for issuing, storing, and transferring electronic money (e-money).

Electronic money or e-money – An electronic store of monetary value issued by PashaPay on receipt of funds from the Customer and which is accepted as a payment instrument for making payment transactions by at least one Partner.

Payment transaction – An act of placing, transferring, or withdrawing funds initiated by the payer or by the payee, irrespective of any underlying obligations between them.

Authorization – Customer’s approval to payment transaction made by PashaPay.

Personalized security credentials – means personalized credentials provided by PashaPay to the Customer for authentication purposes.

Authentication – means a procedure that allows PashaPay to verify the Customer’s identity or the validity of the use of a specific payment instrument, including the use of the Customer’s personalized security credentials.

Strong customer authentication
means an
authentication based on the use of two or more elements categorized as knowledge (password, pin, set of questions, etc.), possession (face or voice recognition, fingerprint, etc.), and inherence (phone, OTP, TOTP, e-signature, etc.) that are independent that the breach of one does not compromise the reliability of the others and is designed to protect the confidentiality of the authentication data.

Partner – Entrepreneur, legal entity, or state body who partners with PashaPay and accepts payments made through the m10 Platform and enters into a contract with PashaPay for those purposes.

Privacy Policy – A privacy notice (statement) published by PashaPay on m10.az/en/privacy-policy website and explains how PashaPay processes the Customer’s data.


Information about PashaPay


Full name: “PashaPay” MMC
Registered address: AZ1010, 153 Neftchilar Ave., Nasimi distr,. Baku city, Azerbaijan
State of incorporation: The Republic of Azerbaijan
Registration number: TAX ID 1300615891
Registration date: 05.04.2005
E-mail address: [email protected]
Phone number: +994124044110


1. Subject matter


1.1.The Agreement regulates the use of the m10 Platform, opening, operating, and closing payment accounts, issuing and the use of e-money, and returning the funds, including but not limited to other payment services and functionalities provided through the m10 Platform.

1.2.Based on the type of payment service PashaPay provides payment services either by opening a payment account or without opening a payment account. To open an e-wallet, PashaPay opens a payment account for the Customer.

2. Payment account


2.1.Based on the type of the payment service and the category of the payment transaction PashaPay may open a payment account for the Customer. By signing the Agreement Customer agrees to PashaPay opening a payment account (e-wallet) for him/her.

2.2.PashaPay may require the identification and verification of the Customer either before or after opening a payment account for him/her at its sole discretion. PashaPay determines identification and verification (due diligence) requirements, its process, and methodology at its sole discretion.

2.3. PashaPay may also perform due diligence by taking into consideration the amount of the money in a payment account or the number and the amount of the payment transactions. The first sentence of this clause does not limit PashaPay’s right to conduct due diligence because of any reason and at any time.

2.4.PashaPay provides the Customer with information (by direct messaging through the platform, e-mail, SMS, or publishing the information on M10 platform) about the limit amount and the number of the payment transactions when the former performs due diligence by taking into consideration the amount of the money in a payment account or the amount and the number of the payment transactions.

2.5.If the Customer does not meet the due diligence requirements, PashaPay may close the payment account and terminate the Agreement unilaterally.

2.6.PashaPay, in accordance with the laws, may store the funds stored in a payment account in a bank account at the banks or the branch offices of foreign banks operating in the Republic of Azerbaijan or may secure those funds in any other way. Ensuring the security of the funds in a payment account is PashaPay’s responsibility and PashaPay may choose any security means provided in Azerbaijani legislation.

2.7.PashaPay may apply authentication or strong customer authentication at its own discretion in opening a payment account, before remote access to the payment account and each payment transaction.

2.8. Storing cryptocurrency in a payment account is prohibited.

2.9.Payment account cannot be used for business purposes.

2.10.PashaPay may debit the Customer’s payment account for the latter’s any debt to the former.

2.11.E-wallets may be based on payment accounts, cards, or bank accounts as per the strategy solely determined by PashaPay subject to the laws of the Republic of Azerbaijan.

2.12.The Customer may top up the payment account by including but not limited to payment cards, and payment terminals. Payment methods for topping up to payment accounts are described in the m10 platform.

3. E-money


3.1.PashaPay may issue e-money to the Customer on the receipt of funds from the Customer for that purpose.

3.2.The Customer may acquire e-money by paying via including but not limited to payment cards, and payment terminals. Payment methods for acquiring e-money are described in the M10 platform.

3.3.PashaPay may use the funds, received from the Customer for the purpose of issuing e-money and for any purpose by guaranteeing its return on the request of the Customer.

3.4.The Customer acknowledges and confirms that issuance of e-money is dependent on the acquirer bank’s acceptance of the funds and notifying PashaPay about it.

3.5.By using e-money the Customer may pay for goods and services provided by Partner(s) and may transfer e-money to other users who have e-wallet with PashaPay on M10 platform. The Customer can get acquainted with the list of Partners who accept payments with e-money on the M10 platform.

3.6.E-money is stored in the Customer’s e-wallet. Therefore, to acquire and use e-money, the Customer shall have an e-wallet opened with PashaPay.

3.7.PashaPay may apply limits to payment transactions, or the amount of e-money stored in a payment account.

3.8.PashaPay may require the Customer’s identification and verification at its sole discretion for which the Customer may be required to perform certain actions or provide information.

4. Payment transactions


4.1.Functionalities provided via the M10 platform enable the Customer to make payment transactions. By using the functionalities provided thereto, the Customer may make payment transactions.

4.2.PashaPay notifies the Customer after execution of each payment transaction. The list of the information given to the Customer is determined by PashaPay solely in accordance with the governing law.

4.3.Payment transactions may be made by credit transfer, direct debit, standing order and other methods not prohibited by the governing law, depending on the functionalities of the M10 platform and the payment services provided thereto by PashaPay.

4.4.When a payment transaction is made by credit transfer, the Customer is responsible, accountable, and liable for selecting the correct receiver, and filling in the information about the receiver, if needed. PashaPay does not assume any liability for incorrect selection of the receiver, or for the mistakes in the filled information.

4.5.When a payment transaction is made by direct debit, the Customer is responsible, accountable, and liable for the selection of the authorized person and for completing direct debit instruction. PashaPay will require the Customer’s prior approval for direct debiting.

4.6.Customer may transfer e-money to both other customers and Partners who accept e-money as a payment instrument.

4.7.Transaction is considered authorized when the Customer takes clear affirmative action (for example, by clicking “pay”, “make payment”, “complete payment”, “complete transaction”, “confirm”, “transfer” and other buttons) in a way that is obviously directed to complete the transaction.

4.8.Performing payment transactions by using various graphical representations (for example, QR or bar codes) or by any other alternative payment methods does not affect the validity of a payment transaction. In such cases, if the Customer has been informed in advance that a certain action is an instruction for the payment transaction, the execution of the required action (for example, reading the QR or bar code) is considered a clear affirmative action to authorize the payment transaction.

4.9.The performance of payment transactions determined in the Agreement depends on the functionalities and range of services provided through the M10 platform. If the M10 platform does not support certain payment transactions (for example, direct debit), the provisions of the Agreement covering that type of transaction are not applicable. PashaPay does not undertake any obligation to provide the functionality for performing a particular payment transaction.

4.10.Exchange rates for payment transactions made in foreign currency are determined on the M10 platform.

5. Other services


5.1.PashaPay may issue payment cards to the Customer together with banks, other payment service providers, or individually to the extent permitted by law. Payment cards can be issued in the form of debit cards, credit cards, prepaid cards, and other forms provided by law. In this case, the Customer may use these cards digitally through the M10 platform.

5.2.PashaPay may provide other payment services to Customers via M10 Platform. The provisions and conditions regulating those services may be described on the M10 Platform.

5.3. The Customer may get information about his/her payment transactions made in the last 1 (one) calendar month or funds in the payment account free of charge. At its sole discretion, PashaPay may choose to send the relevant information on paper or through the M10 platform, e-mail, and other durable mediums.

6. Fees and taxes


6.1.PashaPay may charge the Customer service fee for opening a payment account, issuing e-money, and performing payment transactions.

6.2.In the cases of charging fees in accordance with the Agreement, PashaPay notifies the Customer via the M10 Platform.

6.3.PashaPay may deduct the service fee from the funds in the payment account. If the payment transaction is made without opening a payment account, PashaPay may deduct the service fee from the amount paid. When the service fee is deducted in other ways, PashaPay notifies the Customer via the M10 platform.

6.4.Customer is responsible for paying taxes and state duties imposed on him/her by law. PashaPay is a payment service provider providing payment solutions and is not responsible for paying taxes and state duties imposed on the Customer.

7. Authentication


7.1.PashaPay, bank or any other payment service provider may apply authentication or strong customer authentication during the top-up of the payment account at their sole discretion in accordance with the laws, and their internal rules. When banks or other payment service providers apply authentication or strong customer authentication, it is regulated between the Customer and bank or payment service provider. PashaPay assumes no liability for those relations.

7.2.To conduct remote authentication of the Customer, PashaPay provides the Customer with personalized security credentials. The Customer must ensure the security of those data.

7.3.When the Customer discovers that personalized security credentials are known to any third party, he/she must immediately change that information via the M10 platform. If it is not possible to change the credentials, the Customer shall immediately notify PashaPay in this regard.

7.4.If the Customer loses his/her mobile phone or there is any possibility of third-party access to the Customer’s payment account in any other way, the Customer must notify PashaPay within 24 (twenty-four) hours. If the Customer loses his/her SIM card or it is thieved, PashaPay does not assume any responsibility for restoring his/her access to the payment account, e-wallet and/or M10 platform unless he/she restores his/her access to the same phone number by duplicating the SIM card or other ways.

7.5.PashaPay may conduct Customer authentication when connecting to the M10 platform (during registration and each login) and before each payment transaction. PashaPay may also apply strong customer authentication.

7.6. In case PashaPay has authenticated the payment transaction, it does not bear liability for the unauthorized or incorrectly initiated transaction.

8. License


8.1.PashaPay owns all property and intellectual property rights to the M10 platform. PashaPay holds the copyright to all source code and object code in the M10 platform.

8.2.In accordance with the Agreement, PashaPay grants a license to the Customer to use the M10 platform. PashaPay retains all ownership and intellectual property rights to the M10 platform.

8.3.The license is non-exclusive.

8.4.Customer must not reproduce, publicly display, or distribute the M10 platform. Customer is not entitled to grant third persons the license of the M10 platform, to sub-license, sell or alienate it in any other way.

8.5.Customer is not permitted to extract licenses from the source code of the M10 platform.

8.6.Customer is not permitted to reverse engineer the M10 platform.

9. Data protection


9.1.PashaPay processes, protects, and transfers Customer’s personal data to third parties in accordance with the current Privacy Policy.

9.2.Customer acknowledges that the Privacy Policy may unilaterally be changed by the PashaPay from time to time. The data is always processed, protected, and transferred to third parties in accordance with the up-to-date Privacy Policy.

9.3.Customer’s personal data is processed for marketing, growing sales, assessing the services, developing new products, and other purposes. The purposes of the data processing are described in the Privacy Policy.

10. AML/CFT and fighting tax evasion


10.1.Parties to the Agreement hereby state that they are intolerant of money laundering, terrorist financing, and tax evasion.

10.2.Funds used by the Customer to make payments via M10 platform must be from a legitimate source. If any criminally obtained funds are transferred to the Customer's payment account, he/she must immediately inform PashaPay and law enforcement bodies as soon as he/she becomes aware of it.

10.3.The Customer must not be involved in terrorist financing, and in the presence of such an act, he/she must immediately notify PashaPay and law enforcement bodies.

10.4.The Customer hereby confirms that he/she has never done tax evasion in Azerbaijan, or in any other country, and undertakes an obligation not to do tax evasion by using M10 platform.

10.5.PashaPay may at any time request additional documents related to the Customer's payment transactions.

11. Freezing of the payment account and transaction


11.1.PashaPay may freeze the Customer’s payment account and payment transaction in the following circumstances:

a. When the Customer violates the Agreement.

b. To ensure the security of the M10 platform, payment account, e-money, and other payment instruments.

c. To prevent any unauthorized access to the M10 platform, payment account, e-money, and other payment instruments by third parties.

d. When the Customer is suspected of money laundering, terrorist financing, and tax evasion.

e. when the Customer reached the limit without providing information required for completion of the due diligence.

f. In any other cases, stipulated by law or in accordance with appropriate court decision or demand of authorized state body.

11.2.Disputes shall be settled in accordance with the legislation of the Republic of Azerbaijan when the Customer's payment account and payment transactions are frozen.

12. Responsibility


12.1.The Parties are responsible for breach of the Agreement as per the Azerbaijani legislation.

12.2.The Parties undertake responsibility for damages to each other in accordance with Azerbaijani legislation. PashaPay is responsible only for the actual damages to the Customer.

12.3.PashaPay is not responsible for any suspensions or downtime of the M10 platform.

12.4.The Customer is responsible for securing personalized security credentials and other sensitive information.

13. The term and termination of the Agreement


13.1.The Agreement is concluded when the Customer clicks the "I agree" button on the M10 platform as a clear affirmative action to be bound by the Agreement. The Agreement remains in force until it is terminated by mutual the Parties.

13.2.The Agreement is terminated in the following cases:

a. PashaPay may terminate the Agreement unilaterally by giving 1 (one) month prior notice.

b. The Customer may terminate the Agreement unilaterally via M10 platform.

c. When the Customer does not submit the documents and information related to a payment transaction, requested by PashaPay within 3 (three) days.

d. In the cases determined in Article 2.5 of the Agreement.

e. In the cases determined in Article 11.1 of the Agreement as per initiative of PashaPay .

f. In the cases determined in Article 15 of the Agreement.

g. When the Customer does not use the payment account for more than 6 (six) months.

13.3.When the Agreement is terminated on the grounds determined in the Articles 13.2 (a), 13.2 (b), and 13.2 (g) PashaPay returns the funds paid by the Customer for e-money. In the cases when the Agreement is terminated on any other ground the disputes are regulated in accordance with Azerbaijani legislation.

14. Correspondence and negotiations


14.1.Correspondence and negotiations between the Parties may be conducted via letter, m10 platform, phone call, and e-mail, and official social media accounts.

14.2.Contact information of PashaPay is described in the “Information about PashaPay” section above. The Customer is informed in the event of a change of contact information.

14.3.Customer’s contact information is the information provided for the PashaPay via the M10 platform. When contact information is changed, the Customer must immediately inform PashaPay.

15. Additions and alterations to the Agreement


15.1.PashaPay may make additions and alter the Agreement by giving 1 (one) month prior notice to the Customer. If the Customer does not object to these additions and alterations during that period, he/she is deemed to accept these additions and alterations. If the Customer does not agree to these additions and alterations, he/she may unilaterally terminate the Agreement.

15.2.Additions and alterations that do not aggravate the Customer’s situation shall enter into force without waiting the period specified in Article 15.1 of the Agreement.

16. Applicable law and dispute resolution


16.1.The Agreement is governed and interpreted in accordance with the legislation of the Republic of Azerbaijan.

16.2.All disputes arising out of the Agreement shall be settled in the authorized courts of the Republic of Azerbaijan.

17. Miscellaneous


17.1.The Customer may not transfer the rights and obligations granted to him/her with the Agreement to the third parties. PashaPay may transfer its rights and obligations under the Agreement to the third parties.

17.2.The Agreement is a framework for the provision of payment services, means that certain parts of the Agreement may be applicable to the extent that the relevant type of payment services are provided.

17.3.The Customer may appeal to PashaPay about unauthorized or erroneous transactions, and other claims via communication channels explained hereto. PashaPay will analyze and deal with the application in 15 (fifteen) business days.

17.4.In the event when any provision or any part of the Agreement is held to be void, this will not affect the validity of any other provision of the Agreement.



FRAMEWORK AGREEMENT FOR PAYMENT SERVICES


The Agreement is made by and between PashaPay and the Customer.

Hereinafter PashaPay and the Customer may individually be referred to as a “Party”, and jointly referred to as “Parties”.

Please do note that by clicking the “I agree” button, you express your intention to be bound by the Agreement as per the laws of the Republic of Azerbaijan.

Defined terms


PashaPay – “PashaPay” MMC, a payment service provider.

Customer – A natural person making use of payment services provided on M10 platform. By clicking the “I Agree” button to consent to the Agreement, you become a Customer for purposes of the Agreement.

Agreement – This framework agreement for payment services between PashaPay and the Customer.

M10 platform – A application or website whose all property and intellectual property rights belong to PashaPay, accessed by the Customer via an electronic device to use payment services.

Device – A mobile phone, tablet, or other computing device by which the Customer accesses the m10 platform online.

Payment account – An account opened with PashaPay through m10 platform to provide payment services to the Customer.

Electronic wallet or e-wallet – An electronic wallet operated in a payment account opened in the name of the Customer for issuing, storing, and transferring electronic money (e-money).

Electronic money or e-money – An electronic store of monetary value issued by PashaPay on receipt of funds from the Customer and which is accepted as a payment instrument for making payment transactions by at least one Partner.

Payment transaction – An act of placing, transferring, or withdrawing funds initiated by the payer or by the payee, irrespective of any underlying obligations between them.

Authorization – Customer’s approval to payment transaction made by PashaPay.

Personalized security credentials – means personalized credentials provided by PashaPay to the Customer for authentication purposes.

Authentication – means a procedure that allows PashaPay to verify the Customer’s identity or the validity of the use of a specific payment instrument, including the use of the Customer’s personalized security credentials.

Strong customer authentication
means an
authentication based on the use of two or more elements categorized as knowledge (password, pin, set of questions, etc.), possession (face or voice recognition, fingerprint, etc.), and inherence (phone, OTP, TOTP, e-signature, etc.) that are independent that the breach of one does not compromise the reliability of the others and is designed to protect the confidentiality of the authentication data.

Partner – Entrepreneur, legal entity, or state body who partners with PashaPay and accepts payments made through the m10 Platform and enters into a contract with PashaPay for those purposes.

Privacy Policy – A privacy notice (statement) published by PashaPay on m10.az/en/privacy-policy website and explains how PashaPay processes the Customer’s data.


Information about PashaPay


Full name: “PashaPay” MMC
Registered address: AZ1010, 153 Neftchilar Ave., Nasimi distr,. Baku city, Azerbaijan
State of incorporation: The Republic of Azerbaijan
Registration number: TAX ID 1300615891
Registration date: 05.04.2005
E-mail address: [email protected]
Phone number: +994124044110


1. Subject matter


1.1.The Agreement regulates the use of the m10 Platform, opening, operating, and closing payment accounts, issuing and the use of e-money, and returning the funds, including but not limited to other payment services and functionalities provided through the m10 Platform.

1.2.Based on the type of payment service PashaPay provides payment services either by opening a payment account or without opening a payment account. To open an e-wallet, PashaPay opens a payment account for the Customer.

2. Payment account


2.1.Based on the type of the payment service and the category of the payment transaction PashaPay may open a payment account for the Customer. By signing the Agreement Customer agrees to PashaPay opening a payment account (e-wallet) for him/her.

2.2.PashaPay may require the identification and verification of the Customer either before or after opening a payment account for him/her at its sole discretion. PashaPay determines identification and verification (due diligence) requirements, its process, and methodology at its sole discretion.

2.3. PashaPay may also perform due diligence by taking into consideration the amount of the money in a payment account or the number and the amount of the payment transactions. The first sentence of this clause does not limit PashaPay’s right to conduct due diligence because of any reason and at any time.

2.4.PashaPay provides the Customer with information (by direct messaging through the platform, e-mail, SMS, or publishing the information on M10 platform) about the limit amount and the number of the payment transactions when the former performs due diligence by taking into consideration the amount of the money in a payment account or the amount and the number of the payment transactions.

2.5.If the Customer does not meet the due diligence requirements, PashaPay may close the payment account and terminate the Agreement unilaterally.

2.6.PashaPay, in accordance with the laws, may store the funds stored in a payment account in a bank account at the banks or the branch offices of foreign banks operating in the Republic of Azerbaijan or may secure those funds in any other way. Ensuring the security of the funds in a payment account is PashaPay’s responsibility and PashaPay may choose any security means provided in Azerbaijani legislation.

2.7.PashaPay may apply authentication or strong customer authentication at its own discretion in opening a payment account, before remote access to the payment account and each payment transaction.

2.8. Storing cryptocurrency in a payment account is prohibited.

2.9.Payment account cannot be used for business purposes.

2.10.PashaPay may debit the Customer’s payment account for the latter’s any debt to the former.

2.11.E-wallets may be based on payment accounts, cards, or bank accounts as per the strategy solely determined by PashaPay subject to the laws of the Republic of Azerbaijan.

2.12.The Customer may top up the payment account by including but not limited to payment cards, and payment terminals. Payment methods for topping up to payment accounts are described in the m10 platform.

3. E-money


3.1.PashaPay may issue e-money to the Customer on the receipt of funds from the Customer for that purpose.

3.2.The Customer may acquire e-money by paying via including but not limited to payment cards, and payment terminals. Payment methods for acquiring e-money are described in the M10 platform.

3.3.PashaPay may use the funds, received from the Customer for the purpose of issuing e-money and for any purpose by guaranteeing its return on the request of the Customer.

3.4.The Customer acknowledges and confirms that issuance of e-money is dependent on the acquirer bank’s acceptance of the funds and notifying PashaPay about it.

3.5.By using e-money the Customer may pay for goods and services provided by Partner(s) and may transfer e-money to other users who have e-wallet with PashaPay on M10 platform. The Customer can get acquainted with the list of Partners who accept payments with e-money on the M10 platform.

3.6.E-money is stored in the Customer’s e-wallet. Therefore, to acquire and use e-money, the Customer shall have an e-wallet opened with PashaPay.

3.7.PashaPay may apply limits to payment transactions, or the amount of e-money stored in a payment account.

3.8.PashaPay may require the Customer’s identification and verification at its sole discretion for which the Customer may be required to perform certain actions or provide information.

4. Payment transactions


4.1.Functionalities provided via the M10 platform enable the Customer to make payment transactions. By using the functionalities provided thereto, the Customer may make payment transactions.

4.2.PashaPay notifies the Customer after execution of each payment transaction. The list of the information given to the Customer is determined by PashaPay solely in accordance with the governing law.

4.3.Payment transactions may be made by credit transfer, direct debit, standing order and other methods not prohibited by the governing law, depending on the functionalities of the M10 platform and the payment services provided thereto by PashaPay.

4.4.When a payment transaction is made by credit transfer, the Customer is responsible, accountable, and liable for selecting the correct receiver, and filling in the information about the receiver, if needed. PashaPay does not assume any liability for incorrect selection of the receiver, or for the mistakes in the filled information.

4.5.When a payment transaction is made by direct debit, the Customer is responsible, accountable, and liable for the selection of the authorized person and for completing direct debit instruction. PashaPay will require the Customer’s prior approval for direct debiting.

4.6.Customer may transfer e-money to both other customers and Partners who accept e-money as a payment instrument.

4.7.Transaction is considered authorized when the Customer takes clear affirmative action (for example, by clicking “pay”, “make payment”, “complete payment”, “complete transaction”, “confirm”, “transfer” and other buttons) in a way that is obviously directed to complete the transaction.

4.8.Performing payment transactions by using various graphical representations (for example, QR or bar codes) or by any other alternative payment methods does not affect the validity of a payment transaction. In such cases, if the Customer has been informed in advance that a certain action is an instruction for the payment transaction, the execution of the required action (for example, reading the QR or bar code) is considered a clear affirmative action to authorize the payment transaction.

4.9.The performance of payment transactions determined in the Agreement depends on the functionalities and range of services provided through the M10 platform. If the M10 platform does not support certain payment transactions (for example, direct debit), the provisions of the Agreement covering that type of transaction are not applicable. PashaPay does not undertake any obligation to provide the functionality for performing a particular payment transaction.

4.10.Exchange rates for payment transactions made in foreign currency are determined on the M10 platform.

5. Other services


5.1.PashaPay may issue payment cards to the Customer together with banks, other payment service providers, or individually to the extent permitted by law. Payment cards can be issued in the form of debit cards, credit cards, prepaid cards, and other forms provided by law. In this case, the Customer may use these cards digitally through the M10 platform.

5.2.PashaPay may provide other payment services to Customers via M10 Platform. The provisions and conditions regulating those services may be described on the M10 Platform.

5.3. The Customer may get information about his/her payment transactions made in the last 1 (one) calendar month or funds in the payment account free of charge. At its sole discretion, PashaPay may choose to send the relevant information on paper or through the M10 platform, e-mail, and other durable mediums.

6. Fees and taxes


6.1.PashaPay may charge the Customer service fee for opening a payment account, issuing e-money, and performing payment transactions.

6.2.In the cases of charging fees in accordance with the Agreement, PashaPay notifies the Customer via the M10 Platform.

6.3.PashaPay may deduct the service fee from the funds in the payment account. If the payment transaction is made without opening a payment account, PashaPay may deduct the service fee from the amount paid. When the service fee is deducted in other ways, PashaPay notifies the Customer via the M10 platform.

6.4.Customer is responsible for paying taxes and state duties imposed on him/her by law. PashaPay is a payment service provider providing payment solutions and is not responsible for paying taxes and state duties imposed on the Customer.

7. Authentication


7.1.PashaPay, bank or any other payment service provider may apply authentication or strong customer authentication during the top-up of the payment account at their sole discretion in accordance with the laws, and their internal rules. When banks or other payment service providers apply authentication or strong customer authentication, it is regulated between the Customer and bank or payment service provider. PashaPay assumes no liability for those relations.

7.2.To conduct remote authentication of the Customer, PashaPay provides the Customer with personalized security credentials. The Customer must ensure the security of those data.

7.3.When the Customer discovers that personalized security credentials are known to any third party, he/she must immediately change that information via the M10 platform. If it is not possible to change the credentials, the Customer shall immediately notify PashaPay in this regard.

7.4.If the Customer loses his/her mobile phone or there is any possibility of third-party access to the Customer’s payment account in any other way, the Customer must notify PashaPay within 24 (twenty-four) hours. If the Customer loses his/her SIM card or it is thieved, PashaPay does not assume any responsibility for restoring his/her access to the payment account, e-wallet and/or M10 platform unless he/she restores his/her access to the same phone number by duplicating the SIM card or other ways.

7.5.PashaPay may conduct Customer authentication when connecting to the M10 platform (during registration and each login) and before each payment transaction. PashaPay may also apply strong customer authentication.

7.6. In case PashaPay has authenticated the payment transaction, it does not bear liability for the unauthorized or incorrectly initiated transaction.

8. License


8.1.PashaPay owns all property and intellectual property rights to the M10 platform. PashaPay holds the copyright to all source code and object code in the M10 platform.

8.2.In accordance with the Agreement, PashaPay grants a license to the Customer to use the M10 platform. PashaPay retains all ownership and intellectual property rights to the M10 platform.

8.3.The license is non-exclusive.

8.4.Customer must not reproduce, publicly display, or distribute the M10 platform. Customer is not entitled to grant third persons the license of the M10 platform, to sub-license, sell or alienate it in any other way.

8.5.Customer is not permitted to extract licenses from the source code of the M10 platform.

8.6.Customer is not permitted to reverse engineer the M10 platform.

9. Data protection


9.1.PashaPay processes, protects, and transfers Customer’s personal data to third parties in accordance with the current Privacy Policy.

9.2.Customer acknowledges that the Privacy Policy may unilaterally be changed by the PashaPay from time to time. The data is always processed, protected, and transferred to third parties in accordance with the up-to-date Privacy Policy.

9.3.Customer’s personal data is processed for marketing, growing sales, assessing the services, developing new products, and other purposes. The purposes of the data processing are described in the Privacy Policy.

10. AML/CFT and fighting tax evasion


10.1.Parties to the Agreement hereby state that they are intolerant of money laundering, terrorist financing, and tax evasion.

10.2.Funds used by the Customer to make payments via M10 platform must be from a legitimate source. If any criminally obtained funds are transferred to the Customer's payment account, he/she must immediately inform PashaPay and law enforcement bodies as soon as he/she becomes aware of it.

10.3.The Customer must not be involved in terrorist financing, and in the presence of such an act, he/she must immediately notify PashaPay and law enforcement bodies.

10.4.The Customer hereby confirms that he/she has never done tax evasion in Azerbaijan, or in any other country, and undertakes an obligation not to do tax evasion by using M10 platform.

10.5.PashaPay may at any time request additional documents related to the Customer's payment transactions.

11. Freezing of the payment account and transaction


11.1.PashaPay may freeze the Customer’s payment account and payment transaction in the following circumstances:

a. When the Customer violates the Agreement.

b. To ensure the security of the M10 platform, payment account, e-money, and other payment instruments.

c. To prevent any unauthorized access to the M10 platform, payment account, e-money, and other payment instruments by third parties.

d. When the Customer is suspected of money laundering, terrorist financing, and tax evasion.

e. when the Customer reached the limit without providing information required for completion of the due diligence.

f. In any other cases, stipulated by law or in accordance with appropriate court decision or demand of authorized state body.

11.2.Disputes shall be settled in accordance with the legislation of the Republic of Azerbaijan when the Customer's payment account and payment transactions are frozen.

12. Responsibility


12.1.The Parties are responsible for breach of the Agreement as per the Azerbaijani legislation.

12.2.The Parties undertake responsibility for damages to each other in accordance with Azerbaijani legislation. PashaPay is responsible only for the actual damages to the Customer.

12.3.PashaPay is not responsible for any suspensions or downtime of the M10 platform.

12.4.The Customer is responsible for securing personalized security credentials and other sensitive information.

13. The term and termination of the Agreement


13.1.The Agreement is concluded when the Customer clicks the "I agree" button on the M10 platform as a clear affirmative action to be bound by the Agreement. The Agreement remains in force until it is terminated by mutual the Parties.

13.2.The Agreement is terminated in the following cases:

a. PashaPay may terminate the Agreement unilaterally by giving 1 (one) month prior notice.

b. The Customer may terminate the Agreement unilaterally via M10 platform.

c. When the Customer does not submit the documents and information related to a payment transaction, requested by PashaPay within 3 (three) days.

d. In the cases determined in Article 2.5 of the Agreement.

e. In the cases determined in Article 11.1 of the Agreement as per initiative of PashaPay .

f. In the cases determined in Article 15 of the Agreement.

g. When the Customer does not use the payment account for more than 6 (six) months.

13.3.When the Agreement is terminated on the grounds determined in the Articles 13.2 (a), 13.2 (b), and 13.2 (g) PashaPay returns the funds paid by the Customer for e-money. In the cases when the Agreement is terminated on any other ground the disputes are regulated in accordance with Azerbaijani legislation.

14. Correspondence and negotiations


14.1.Correspondence and negotiations between the Parties may be conducted via letter, m10 platform, phone call, and e-mail, and official social media accounts.

14.2.Contact information of PashaPay is described in the “Information about PashaPay” section above. The Customer is informed in the event of a change of contact information.

14.3.Customer’s contact information is the information provided for the PashaPay via the M10 platform. When contact information is changed, the Customer must immediately inform PashaPay.

15. Additions and alterations to the Agreement


15.1.PashaPay may make additions and alter the Agreement by giving 1 (one) month prior notice to the Customer. If the Customer does not object to these additions and alterations during that period, he/she is deemed to accept these additions and alterations. If the Customer does not agree to these additions and alterations, he/she may unilaterally terminate the Agreement.

15.2.Additions and alterations that do not aggravate the Customer’s situation shall enter into force without waiting the period specified in Article 15.1 of the Agreement.

16. Applicable law and dispute resolution


16.1.The Agreement is governed and interpreted in accordance with the legislation of the Republic of Azerbaijan.

16.2.All disputes arising out of the Agreement shall be settled in the authorized courts of the Republic of Azerbaijan.

17. Miscellaneous


17.1.The Customer may not transfer the rights and obligations granted to him/her with the Agreement to the third parties. PashaPay may transfer its rights and obligations under the Agreement to the third parties.

17.2.The Agreement is a framework for the provision of payment services, means that certain parts of the Agreement may be applicable to the extent that the relevant type of payment services are provided.

17.3.The Customer may appeal to PashaPay about unauthorized or erroneous transactions, and other claims via communication channels explained hereto. PashaPay will analyze and deal with the application in 15 (fifteen) business days.

17.4.In the event when any provision or any part of the Agreement is held to be void, this will not affect the validity of any other provision of the Agreement.