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GENERAL TERMS AND CONDITIONS OF IRIS SOLUTIONS AD FOR THE USE OF PAYMENT TERMINAL PRODUCT

I. Definitions

Art. 1. (1) For the purposes of these General Terms and Conditions, the terms listed below shall have the following meanings, unless the context requires a different interpretation:

  • "Provider" is "Iris Solutions" AD, UIC 208455895, licensed to provide payment services pursuant to BNB Decision No. 316/17.09.2019;

  • "Product" or "Payment Terminal" means a software solution provided by the Provider, which is installed and/or integrated with the Merchant’s systems and enables the exchange of information between the Merchant and its customers, as well as the acceptance of payments from a payment account for goods and/or services provided by the Merchant. Such payments may include:

    • payments for goods and/or services purchased through the Merchant’s online store;

    • payments for goods and/or services purchased at the Merchant’s physical point of sale; and

    • payments of invoices issued by the Merchant;

  • "General Terms and Conditions" means these General Terms and Conditions of Iris Solutions AD regarding the use of the "Payment Terminal" product;

  • "Merchant" is a person carrying out a business activity or providing services by profession, who provides goods and/or services, payment for which is possible through the Product;

  • "Transaction" is a payment transaction carried out through the Product to the Merchant's account at a bank/payment institution;

  • "Users" are the Merchants, as well as persons - their customers, who use the Provider's Payment Terminal product;

  • "Final Payment Status" means a confirmation received by the Provider from the bank or payment service provider servicing the payer’s account that the payment order relating to the Transaction has been accepted and executed, the payer’s account has been debited with the amount of the Transaction, and the funds have been sent to the designated recipient account. The Final Payment Status confirms the execution of the payment order by the payer’s bank or payment service provider but does not constitute confirmation that the Merchant’s account has been credited with the Transaction amount;

(2) Unless the context otherwise requires, words used in the singular shall also include the plural of those words, and words used in the plural shall also include the singular of those words.

Art. 2. The General Terms and Conditions apply to the use of the Product. When using the Product, each Merchant must agree to and comply with the General Terms and Conditions.

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II. Terms and Conditions for Merchants to access the Product functionalities

Art. 3. (1) Access to the Product is subject to the Merchant entering into an agreement with the Provider governing the use of the Product and obtaining the Provider’s approval.

(2) The approval under paragraph 1 shall be granted subject to the following fulfilled conditions:

  1. The Merchant must have provided the registration data and data about its beneficial owner required by the Provider;

  2. The Merchant's activity must be related to the provision of goods and/or services permitted by the applicable law. In case the commercial activity carried out is subject to a licensing or permit regime, the Merchant must provide evidence that it holds the relevant licenses and/or permits;

  3. The trader must have a good reputation and comply with the provisions of the applicable law related to the exercise of its activity;

Art. 4. (1) After approval, the Provider provides software components (including plug-ins, applications or other technical components) to the Merchant, which must be installed and/or integrated with the latter's systems in order to use the Product.

(2) Proper use and full functionality of the Product may require compliance with other requirements specified by the Provider.

Art. 5. The Provider shall provide the Merchant with detailed instructions for working with the Product, taking into account the nature of the expected payments from customers (online store, physical store and/or by invoice) before the Merchant starts working with the Product.

Art. 6. Where the Provider has reasonable grounds to suspect, or has established, any irregularity or violation in connection with information provided or actions performed by the Merchant, or where necessary to prevent or mitigate unlawful activity, the Provider may unilaterally restrict certain functionalities of the Product, including the amount of payments allowed through the Payment Terminal. The restrictions may concern the number of Merchant accounts to which payments can be received, the maximum amount of a single Transaction, the number and amount of Transactions from a specific person (customer), the type of goods and/or services for which payments can be received, etc., of which the Merchant shall be notified in a timely manner.

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III. Product Use

Art. 7. Receiving payments through the Product is carried out at the initiative of the Merchant or the relevant customer, the latter of whom must necessarily approve the Transaction. The specific method for initiating and carrying out Transactions is specified by the Provider in the instructions under Art. 5 or in another appropriate manner.

Art. 8. (1) The Provider shall notify the Merchant electronically (via the Product and/or by e-mail) of each successful payment through the Payment Terminal.

(2) Through the Product, the Merchant can monitor and receive information regarding the Transactions performed.

Art. 9. (1) The Merchant may receive advertising materials, as well as coordinate such with the Provider, with a view to promoting the Product.

(2) The Merchant may participate in marketing campaigns, as well as coordinate independent ones with the Provider, with a view to promoting the Product.

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IV. Responsibility

Art. 10. (1) The Provider may conduct checks of the Transactions in order to establish whether there are any illegal and/or suspicious operations, as well as in the event of complaints made by Users.

(2) In the event of a complaint, the Provider shall request information about the case from the Merchant, providing him with an appropriate period for this, but not shorter than 3 working days.

(3) In the event of an established illegal, improper or suspicious transaction, as well as in the event of a valid complaint, the Merchant shall, at its own expense, refund the relevant amount and take any other remedial measures reasonably required by the Provider. The Provider may also require other actions to repair the damages, to the extent that such are permissible by law and are required by the nature and character of the specific case.

Art. 11. (1) In case of doubts (until the case is clarified) or in case of established cases of unlawful actions, the Provider may unilaterally block in whole or in part the Merchant's ability to use the Payment Terminal, of which the Merchant shall be notified in a timely manner, without owing compensation for this.

(2) Information on cases under paragraph 1 may also be provided to the competent authorities.

Art. 12. (1) The Provider shall use commercially reasonable efforts to ensure that the Product is available for the initiation and acceptance of Transactions 24 hours a day, 7 days a week. The Provider shall not be liable for the unavailability or failure of a Transaction where such unavailability or failure is attributable to the relevant bank or payment service provider, payment scheme, payment infrastructure or other third party outside the Provider’s reasonable control.

(2) The Provider shall not be liable for non-performance or delayed performance of a Transaction when the following conditions are simultaneously met:

  1. the bank/payment institution servicing the payer's account has confirmed to the Provider the Final Status of the payment within the meaning of Art. 1, para. 1;

  2. the payment order has been executed in accordance with the parameters submitted by the Merchant (amount, currency, reason and recipient's account); and

  3. the amount has not been received or has been received with a delay in the Merchant's account for reasons for which the bank/payment institution servicing the Merchant's account is responsible, including, but not limited to, temporary unavailability or exclusion of the latter from the instant payment system (SEPA instant, or the relevant national system when the payment is in a currency other than euro), a technical problem or interruption in its systems, blocking or closing of the Merchant's account.

In these cases, the Merchant shall submit its claims in connection with the Transaction directly to the bank/payment institution servicing its account, and the Provider shall provide upon request the data available to him about the Transaction (reference, date and time of initiation, confirmed status) necessary for their submission.

(3) The Merchant shall immediately notify the Provider of any circumstance known to it that may affect the receipt of Transactions on its account, including blocking, closing or changing the account or unavailability of the bank/payment institution servicing it. Upon receipt of such notification, the Provider shall have the right to temporarily suspend the initiation of Transactions to the relevant account until the circumstance notified to the Merchant ceases to exist.

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V. Fees

Art. 13. For the use of the Product, the Provider charges fees to the Merchants, as agreed in their individual contracts or in the Provider's Tariff.

Art. 14. In case the Merchant uses additional services, fees may be due according to the Provider's Tariff.

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VI. Termination and modification of access and functionalities of the Product

Art. 15. Unless otherwise provided in the Merchant’s individual agreement, the Merchant may at any time discontinue the use of the Product or remove a specific payment account held with a bank or payment service provider from the scope of the Product.

Art. 16. (1) The Provider shall use reasonable efforts to ensure the continuous availability of the Product but does not guarantee uninterrupted or error-free operation. The Provider reserves the right to suspend or terminate the Merchant’s access to the Product, or to modify, restrict or discontinue any of its functionalities. Where reasonably practicable, the Provider shall notify the Merchant in advance of any planned material change to the Product or planned suspension or termination of access.

(2) The Provider shall inform the Merchant and provide detailed instructions in cases of modifications and changes to the Product that require additional installation, integration or changes to the Merchant's systems.

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VII. Miscellaneous

Art. 17. (1) If a Merchant notices a malfunction when using the Product, he may contact the Provider using the correspondence details below:

"Iris Solutions" JSC
UIC 208455895
Address: Sofia, 78 Hristo Smirnenski Blvd., 4th floor
Email address: sales@irisbgsf.com

(2) The Provider will consider the request and notify the affected Users electronically of its decision within 7 days. In the event that the deadline cannot be met and/or additional information is required, the Provider will notify the affected Users electronically.

Art. 18. The Provider undertakes to provide assistance to the Merchant in case of questions, problems and malfunctions of the correspondence details specified in Art. 17(1).

Art. 19. (1) The Provider has the right to change these General Terms and Conditions, for which it shall send a prior notification to the Merchant through the Product. A notice of the change to the General Terms and Conditions shall also be posted on the Provider's website.

(2) Changes to the General Terms and Conditions shall be effective for the relevant Merchant only if the latter accepts them. In the event that the Merchant does not accept the relevant changes to the General Terms and Conditions, the Provider may partially or completely restrict the use of the Product.

(3) In the event that the Merchant does not accept the change in the General Terms and Conditions, he has the right to terminate the agreement at any time before their effective date, without being liable for costs and compensation.

Art. 20. In the event that a provision of these General Terms and Conditions is declared by a court or other similar institution to be invalid, illegal or unenforceable, all other provisions of the General Terms and Conditions shall nevertheless retain their full force and effect.

Art. 21. For cases not regulated by these General Terms and Conditions, the current law of the Republic of Bulgaria shall apply.

These General Terms and Conditions were adopted and entered into force on 20.01.2020.
Last modified: 21.10.2026

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