Terms & Conditions

1.1 Corporate Entity, Legal Capacity & Non-Banking Status

Flux Pay (Private) Limited ("Flux Pay", "Flux", "we", "us", or "our") is a private limited company incorporated under the laws of the Islamic Republic of Pakistan, operating as an enterprise payment technology and hosted checkout software platform. Flux provides merchant integration software, hosted checkout interfaces, programmatic disbursement APIs, and automated ledger reconciliation software. Flux Pay (Private) Limited is a pure technology software provider and is not a commercial bank, microfinance institution, or deposit-taking entity. Funds held in merchant ledger balances represent unsettled commercial payment receivables and do not earn interest, markup, or profit of any kind.

1.2 Legal Framework & Commercial Contract

This Agreement is executed as a legally binding commercial contract under the laws of the Islamic Republic of Pakistan, governing the provision, integration, and utilization of payment software, hosted checkout routing, and developer API services for legitimate digital commerce.

2.1 Official Infrastructure Architecture

Flux Pay has established an exclusive enterprise technology partnership with Volzix Technologies (operating via volzix.io). Under this enterprise arrangement, Volzix Technologies engineers and maintains the high-availability payment routing grid, multi-datacenter cryptographic event bus, upstream telco/banking gateway switches, and double-entry ledger state machine.

2.2 Zero Custody & Non-Financial Agency

Volzix Technologies serves strictly as a high-performance software and routing infrastructure provider. Volzix Technologies does not maintain physical custody of merchant funds, does not manage customer bank deposits, and does not determine merchant underwriting outcomes. All financial settlements flow through regulated Pakistani banking and mobile wallet partner institutions.

3.1 Registration Criteria

To apply for and maintain a Flux Pay merchant account, the applicant must:

• Be a natural person of at least 18 years of age possessing a valid Pakistani Computerized National Identity Card (CNIC) or Smart National Identity Card (SNIC) or National Identity Card for Overseas Pakistanis (NICOP); or
• Be a legally registered business, sole proprietorship, partnership, or enterprise operating legitimate commercial trade in Pakistan;
• Possess an active National Tax Number (NTN) issued by the Federal Board of Revenue (FBR) where required by law;
• Maintain an operational settlement bank account registered in the exact legal name of the merchant or business entity.

3.2 Truth of Representations

The merchant warrants that all information, business descriptions, trade licenses, and representative credentials submitted during registration are true, accurate, and up-to-date. Misleading disclosures constitute grounds for immediate termination and statutory blacklisting.

4.1 Merchant Identity Vetting & AML Screening

In strict accordance with the Anti-Money Laundering Act, 2010 and Pakistani fraud prevention standards, Flux conducts multi-stage verification on every merchant. Full payment acceptance and disbursement features remain locked in sandbox mode until KYC documentation is vetted and formally approved by our compliance department.

4.2 Periodic Re-verification & Enhanced Due Diligence (EDD)

Flux reserves the irrevocable right to perform re-verification, request updated tax returns, verify bank statement authenticity with issuing institutions, or conduct Enhanced Due Diligence (EDD) if a merchant experiences unexpected transaction volume surges or high dispute rates.

5.1 Standard Review

Standard merchant compliance review is provided without upfront fee and follows a chronological first-in, first-out evaluation order. Turnaround times depend on overall queue capacity and upstream NADRA/banking verifications.

5.2 Expedited Priority Review Terms

Merchants may elect to purchase an optional Expedited Priority Review queue-acceleration service. Merchants expressly acknowledge and agree to the following conditions:

• Not an Approval Fee: The priority fee compensates dedicated human compliance auditing and fast-track queue dispatch; it is in no way a guarantee or purchase of account approval.
• No Compliance Compromise: Priority applications undergo identical rigorous AML/CFT screening. Deficient, fraudulent, or high-risk applications will be rejected regardless of fee payment.
• Strictly Non-Refundable: Once payment is confirmed and our underwriting personnel commence compliance analysis, priority review fees are non-refundable.

6.1 Merchant Discount Rate (MDR) Snapshots

Flux charges the Merchant Discount Rate (MDR) specified on the published Pricing page or in the merchant's customized enterprise contract. To guarantee complete ledger integrity, a cryptographic fee snapshot is permanently locked at the exact millisecond a payment successfully completes. Any subsequent platform-wide fee revisions will never alter or recalculate historical transactions.

6.2 Fee Overview Table

6.3 Taxation & Provincial Levies

Platform fees are exclusive of applicable Provincial Sales Tax on Services (e.g., PRA at 16%, SRB at 13%, KPRA at 15%) or Federal Excise Duty (FED), which shall be withheld or billed in accordance with the prevailing tax laws of Pakistan.

7.1 Settlement Clearing Timelines

Funds received from customer checkouts undergo reconciliation before transitioning from Unsettled Balance to Available Merchant Balance. Standard settlement cycles are T+1 to T+2 business days (excluding bank holidays and weekends in Pakistan).

7.2 Rolling Reserves

Flux reserves the contractual right to institute a rolling reserve (typically 5% to 10% of gross transaction volume held for a rolling period of 90 to 180 calendar days) if the merchant:

• Operates in a sector characterized by high fulfillment latency or high ticket sizes;
• Experiences an aggregate chargeback or dispute ratio exceeding 1.0%;
• Receives customer complaints regarding unfulfilled delivery of merchandise.

7.3 Payout Disbursements

Disbursements from Available Balance are transmitted strictly to the verified IBAN or mobile wallet registered during KYC review. Flux will not honor payout requests directed to third parties or non-verified banking destinations.

8.1 Third-Party Downtime & Network Delays

Flux Pay and Volzix Technologies aggregate external financial switches operated by JazzCash (MMBL), Easypaisa (TMB), and 1Link/SBP Raast. We do not control and cannot assume liability for telecommunications outages, upstream core banking system maintenance, SMS OTP transmission delays, or interbank settlement windows operated by third parties.

8.2 Authoritative Server Status

A transaction is deemed successful solely when verified and confirmed by Flux server-side cryptographic webhooks. Client-side browser redirects, URL parameters, or frontend user displays do not constitute authoritative proof of payment. Merchants must verify webhook HMAC signatures or query the official Status API prior to dispatching physical or digital goods.

9.1 Credential Safeguards

Merchants bear absolute responsibility for maintaining the strict confidentiality of their API Keys (api_key), Webhook HMAC Secrets, and dashboard authentication passwords. Merchants must never commit API keys into public repositories, client-side JavaScript, or unencrypted storage.

9.2 Incident Reporting

If a merchant detects or suspects unauthorized access to their Flux account or compromise of signing credentials, the merchant must notify the Flux Compliance Team (support desk) within two (2) hours to trigger immediate key revocation.

10.1 Dispute Procedure

When a customer files a formal chargeback or claim of unauthorized debit through their issuing bank or wallet, Flux will notify the merchant via email and merchant dashboard. The merchant must submit comprehensive documentary evidence (e.g., courier Air Waybill signed upon delivery, customer communication logs, IP access records) within 48 business hours.

10.2 Reversal Ledger Debits

In the event a dispute is decided against the merchant or where the merchant fails to provide valid proof of delivery, Flux will record an immediate refund_debit against the merchant's ledger balance along with any upstream bank representation surcharges.

14.1 Cap on Liability

To the maximum extent permitted by applicable Pakistani law, neither Flux Pay nor Volzix Technologies shall be liable for indirect, incidental, punitive, or consequential damages (including loss of profits, business interruption, or data corruption). The aggregate cumulative liability of Flux arising under this Agreement shall never exceed the total platform processing fees retained by Flux from the merchant's transactions during the three (3) calendar months preceding the claim.

14.2 Merchant Indemnification

The merchant agrees to defend, indemnify, and hold harmless Flux Pay, Volzix Technologies, their directors, employees, and banking affiliates against any legal claims, regulatory fines, customer demands, or legal defense costs arising from the merchant's products, services, website content, or breach of this Agreement.