PaciPayENTOVersion 2026-10-v2 · Tonga Market Ltd, trading as PaciPay
This agreement is between you (the "Merchant") and Tonga Market Ltd, trading as PaciPay ("PaciPay"). You accept it when you create a PaciPay account and again before you are approved to take live payments. Please read it. It sets out what you promise the people who pay you, and what PaciPay may do if a buyer is let down.
1.1 PaciPay is a payment software and ledger service. It is not a bank. Money paid to you through PaciPay is held by a licensed sponsor bank in a segregated trust account, separate from PaciPay's own money, until it is paid out to your verified bank account.
1.2 During the National Reserve Bank of Tonga (NRBT) regulatory sandbox, PaciPay operates under Tonga Market Ltd's licence, as agreed with NRBT, until NRBT issues PaciPay its own licence. Sandbox limits apply to live payments: a maximum per payment, a maximum per merchant per day, and a maximum for all of PaciPay per day. The current limits are published in PaciPay's Merchant Funds Policy. A payment over a limit is refused before any money moves, and the buyer is told why.
1.3 PaciPay charges a fee of 1.5% on payments made on local rails, deducted when the payment clears. PaciPay does not keep its fee on any amount that is refunded.
2.1 You are the seller of everything you sell through PaciPay, whether by Payment Share Link, through your own online store, or any other PaciPay channel. The contract of sale is between you and your buyer.
2.2 You must:
2.3 You must not use PaciPay to sell anything illegal in Tonga, anything you do not have the right to sell, weapons, drugs, counterfeit goods, gambling, adult content, or financial products you are not licensed to offer. You must not use PaciPay to move money for anyone else.
2A.1 Before you can take live payments, PaciPay must verify your business, its directors, everyone who owns 25% or more of it, and anyone else who controls it. You must give PaciPay true and complete information and documents, including photo ID for each of those people. PaciPay checks every name against international sanctions lists. Two different PaciPay officers must approve your business before live payments start.
2A.2 You must tell PaciPay within 10 business days if any of these change: your owners or directors, your business name, address or licence, what you sell, or your payout bank account. PaciPay will check the change again, and may pause live payments until it has.
2A.3 PaciPay re-checks every merchant's information at least once a year, or every 6 months for higher-risk businesses.
2A.4 PaciPay will not tell you if it reports a suspicion to the authorities. The law does not allow it.
3.1 A buyer who paid you may report a problem to PaciPay within 60 days of paying, or within 30 days after the delivery date you promised if that is later.
3.2 When a buyer reports a problem, PaciPay will immediately freeze the amount in dispute. It will not be paid out to you while the complaint is open.
3.3 You will be told what the buyer said and may respond, or refund the buyer from your dashboard.
3.4 If the complaint is not settled between you and the buyer, a PaciPay officer will decide it on the evidence both of you provide. A decision to refund the buyer is approved by a second PaciPay officer before any money moves. PaciPay aims to decide within 10 business days of the complaint.
3.5 You agree to be bound by PaciPay's decision on a complaint as far as your PaciPay account and balances are concerned. This does not take away any right you or the buyer have under the law of Tonga.
4.1 You authorise PaciPay to refund a buyer, when a complaint is upheld, from:
4.2 For your first 60 days of taking live payments, your payments will clear no sooner than 7 days after the buyer pays, instead of the usual 1 to 2 days. PaciPay may set a longer hold or a rolling reserve if you take payment long before delivery (for example pre-orders, deposits or bookings), or if complaints against you are high. A reserve remains your money, held in trust, and is released to you when the holding period ends.
4.3 PaciPay may pause payouts to you while it investigates unusual activity, a high rate of complaints, or a recent change to your payout bank account. Clearing continues during a pause. No money is taken from you by a pause.
5.1 If a complaint is upheld and your frozen amount, balance and reserve are not enough to refund the buyer, PaciPay may pay the difference to the buyer itself.
5.2 Any amount PaciPay pays to a buyer on your behalf is a debt you owe PaciPay. PaciPay will recover it from your future payments before they are paid out to you. PaciPay may also recover it from you directly, including through the courts of Tonga.
5.3 If PaciPay believes a sale was fraudulent, it may report the matter to the Tonga Police and, where required by law, to the Financial Intelligence Unit, and may close your account.
6.1 PaciPay may suspend or close your account if you break this agreement, if complaints against you are high, or if the law or PaciPay's sponsor bank requires it.
6.2 Suspension stops new payments immediately. It does not take your money. Cleared funds that are not frozen for a complaint or held in reserve continue to be paid out to you, unless the law requires PaciPay to hold them.
6.3 Your obligations under sections 3 to 5 continue for complaints about payments made before your account was closed.
7.1 PaciPay keeps records of your account, your verification and your payments for 7 years, as the law requires.
7.2 PaciPay will use information about you and your buyers only to run the service, meet its legal obligations (including anti-money-laundering law), and answer complaints. PaciPay may share information with its sponsor bank and with the National Reserve Bank of Tonga, which supervises it.
8.1 PaciPay may update this agreement. It will give you at least 21 days' written notice before any material change takes effect, including a change to its fees, holding periods, reserves, payout timing or these terms, and will ask you to accept the new version. The only exception is a change needed straight away to keep the payment system or your account secure. In that case PaciPay will tell you as soon as it can.
8.2 This agreement is governed by the law of the Kingdom of Tonga.