Nashi Labs Pte Ltd – Terms of Service

Effective Date: 4 September 2025

1. Introduction

(a) Welcome to Nashi Labs Pte Ltd (also known as “nashi,” “Company,” “we,” “our,” or “us”), a registered business in Singapore under UEN 202505584G.
(b) These Terms govern your access to and use of the nashi mobile application and related services (the “Service”), including our Tap-to-Phone payment solution and any additional features we may introduce. By using the Service, you agree to these Terms. If you do not agree, do not use the Service.
(c) Important: nashi does not process or hold your funds. All payments are processed by our licensed Payment Service Provider (“PSP”). By using the Service, you also agree to the PSP’s terms of service: Adyen Terms.

2. Definitions

(a) “nashi,” “Company,” “we,” “us,” or “our” means Nashi Labs Pte Ltd.
(b) “Service” means the nashi mobile application and related services, including the Tap-to-Phone payment solution and any additional features we may introduce.
(c) “Merchant” or “you” means any individual or business that registers for and uses the Service.
(d) “PSP” means the licensed Payment Service Provider that processes payments on behalf of nashi and its Merchants.
(e) “Transaction” means any payment processed by a Merchant using the Service, including successful, declined, or pending payments.
(f) “Cardholder” means the individual who owns a payment card used to complete a Transaction.
(g) “Cardholder Data” means sensitive information relating to a payment card, including card number, expiry date, and security code, processed in accordance with PCI DSS standards.
(h) “Chargeback” means a reversal of a Transaction initiated by a Cardholder or the Cardholder’s issuing bank in accordance with card network rules.
(i) “Dispute” means any claim, objection, or issue raised by a Cardholder regarding a Transaction, including chargebacks, refund requests, unauthorized payment claims, or contested payments.
(j) “Fees” means any charges, transaction fees, or other amounts payable by the Merchant to nashi or the PSP in connection with the use of the Service.
(k) “Restricted Activities” means prohibited or high-risk activities as defined in these Terms.
(l) “Account” means the Merchant account created to access and use the Service.
(m) “Software Updates” means any modifications, upgrades, patches, or new releases to the Service provided by nashi.
(n) “Offline Mode” means any state in which the Service is unable to connect to the PSP or the internet, which may affect the processing of Transactions.
(o) “Transaction Failure” means any situation where a Transaction cannot be completed successfully, regardless of whether the payment card is present or whether the Service is online or offline.

3. Eligibility

(a) You must be at least 18 years old and legally capable of entering into a binding agreement.
(b) You must be a legally registered active business in your jurisdiction or otherwise permitted under local laws.
(c) You must provide accurate and up-to-date business and banking information at onboarding and on request, and keep this information current at all times.

4. Use of the Service

(a) The Service enables you to accept payments, including card, directly on a compatible mobile device.
(b) You agree to use the Service only for lawful purposes and in compliance with these Terms, applicable laws, card network rules, and PSP requirements.
(c) You are responsible for maintaining the security of your device and all credentials associated with the Service.
(d) You represent and warrant that your use of the Service will comply with all applicable laws at all times.
(e) Restrictions: You must not, and must not allow others to:
(i) Use the Service for anything other than its intended purpose.
(ii) Remove or modify any copyright, trademark, or proprietary notices.
(iii) Reverse engineer, decrypt, or create derivative works of the Service.
(iv) Use the Service outside of nashi products and services.
(v) Engage in any activity that would require nashi intellectual property to be open-sourced or shared under license terms.

5. Merchant Responsibilities

(a) You must comply with all laws, regulations, and card network rules.
(b) You are responsible for chargebacks, refunds, and customer disputes.
(c) You agree to provide accurate and up-to-date business and banking information and notify us promptly of any changes.

6. Fees and Payments

(a) We may charge Fees as outlined in our pricing schedule.
(b) Fees are deducted from each Transaction by the PSP prior to settlement.
(c) We reserve the right to change Fees with notice.
(d) We may withhold payouts, impose a minimum reserve, or delay settlements if:
(i) You have high dispute or chargeback ratios.
(ii) We detect Restricted Activities or high-risk activity.
(iii) Required compliance documentation is not provided.

7. Prohibited Activities

(a) You may not use the Service for any of the following:
(i) Illegal goods or services.
(ii) High-risk activities such as gambling, adult content, controlled substances, weapons, counterfeit goods.
(iii) Deceptive or fraudulent transactions, including Ponzi or pyramid schemes.
(iv) Virtual currency transactions, unlicensed financial services, or activities listed under  PSP policies
here. (v) Any activity that could result in financial or reputational harm to nashi, the PSP, or card networks.

8. Data Privacy & Security

(a) We collect and process data in accordance with our Privacy Policy.
(b) Cardholder data is handled by the PSP in compliance with PCI DSS standards.
(c) nashi does not store Cardholder Data.

9. Suspension & Termination

(a) We may suspend or terminate your Account if you violate these Terms, engage in Restricted Activities, or fail to provide requested information.
(b) We may terminate your Account for convenience with reasonable notice.
(c) You may terminate your use of the Service by notifying us.

10. Chargebacks & Disputes

(a) You are solely responsible for Chargebacks, refunds, and Disputes.
(b) If a Chargeback occurs, the disputed amount and any associated Fees may be deducted from your Account.
(c) You agree to cooperate with us in investigating and resolving Disputes in accordance with card network rules.
(d) We reserve the right to:
(i) Withhold funds, impose a reserve, or offset future payouts to cover potential Chargebacks or losses.
(ii) Suspend or terminate your Account for excessive Disputes or non-cooperation.

11. Right to Request Additional Information

(a) We may request additional information regarding your business, Transactions, or activities.
(b) You agree to provide such information upon request in a timely manner to ensure compliance with applicable regulations and risk management policies.

12. Software Updates

(a) nashi may require or make available updates to the Service from time to time. All updates are mandatory unless designated as optional.
(b) nashi may push an update directly via its SDK or API, or notify you of an update and direct you to implement it.
(c) If an update is mandatory, you must implement it within the required timeline or within 30 days from notice.
(d) Failure to update may result in the inability to use the Service, and nashi will not be liable for any resulting losses.
(e) The license terms in these Terms apply to all updates unless a separate license is provided.

13. Disclaimer and Limitation of Liability

(a) You must only use the Service in compliance with these Terms. If a Transaction cannot be successfully completed while the card is present (including during Offline Mode), nashi and its affiliates will not be liable for any losses or damages.
(b) The Service is provided “as is” without warranties of any kind.
(c) We are not liable for indirect or consequential losses, including lost profits, delays, or failures caused by third parties, including the PSP.
(d) nashi, its directors, officers, and employees are not personally liable for any obligations, losses, or claims arising from the use of the Service.

14. Indemnification

(a) You agree to indemnify and hold harmless nashi, its directors, officers, employees, and affiliates from any claims, losses, damages, liabilities, costs, or expenses (including legal fees) arising from your use of the Service, including Restricted Activities, fraudulent transactions, or violations of applicable laws.

15. Force Majeure

(a) nashi is not liable for any failure or delay in performance resulting from causes beyond our reasonable control, including natural disasters, network or PSP downtime, or government actions.

16. Third-Party Services

(a) The Service relies on third-party providers, including the PSP.
(b) nashi is not responsible for errors, delays, or failures caused by third-party providers.

17. No Banking or Fiduciary Relationship

(a) You acknowledge that nashi is not a bank, financial institution, or fiduciary and does not hold or safeguard funds on your behalf.

18. Changes to the Terms

(a) We may update these Terms from time to time. You will receive notification via your Account email or in-app.
(b) Continued use of the Service after updates constitutes acceptance.

19. Governing Law & Dispute Resolution

(a) These Terms are governed by the laws of Singapore.
(b) Any disputes shall be resolved through arbitration or in the courts of Singapore.

20. Contact Information

(a) Email us at: hello@trynashi.com