Terms of Service

1. Agreement to Terms

These Terms of Service ("Terms") constitute a legally binding agreement between you ("User," "you," or "your") and Olivas Venture Capital, operating as QisstPay ("QisstPay," "we," "our," or "us"). By creating an account or using our Buy Now Pay Later services, website, or applications (collectively, the "Services"), you agree to be bound by these Terms.

If you do not agree to these Terms, do not access or use our Services. You must be at least 18 years of age and a resident of Pakistan to use our Services.

2. Description of Services

QisstPay provides a Shariah-compliant Buy Now Pay Later platform that allows consumers to split purchases into interest-free installments at participating merchant partners. Our Services include:

• Interest-free installment payment plans (typically 4 equal payments)
• Consumer credit assessment and approval
• Account management through our website and mobile applications
• Payment processing and installment tracking

3. Account Registration

To use our Services, you must create an account and provide accurate, complete, and current information including your CNIC number, phone number, and other required details. You are responsible for:

• Maintaining the confidentiality of your account credentials
• All activities that occur under your account
• Updating your information to keep it accurate and current
• Notifying us immediately of any unauthorized access

We reserve the right to suspend or terminate accounts that provide false or misleading information.

4. Payment Terms

4.1 Installment Plans

When you make a purchase using QisstPay, your total purchase amount is divided into equal installments. The first installment is due at the time of purchase, with subsequent installments due on the dates specified in your payment schedule.

4.2 Zero Interest

QisstPay does not charge interest on installment plans. You pay only the purchase price of the goods or services, divided into equal installments. This structure is maintained in compliance with Shariah principles.

4.3 Late Payments

You are responsible for making payments on time. If a payment fails or is missed, we may:

• Send payment reminders via SMS, email, or push notification
• Temporarily suspend your ability to make new purchases
• Report the delinquency to credit bureaus
• Refer the outstanding balance to a collection agency

We do not charge interest on late payments. However, a flat administrative fee may apply as disclosed at the time of purchase.

4.4 Payment Methods

Payments may be made via bank transfer, debit card, or other methods made available through our platform. You authorize QisstPay to automatically debit scheduled payments from your designated payment method.

5. Credit Assessment

QisstPay performs credit assessments to determine your eligibility and spending limit. By applying for our Services, you consent to us accessing and verifying your identity, financial information, and credit history. We reserve the right to approve, decline, or adjust your credit limit at any time at our sole discretion.

6. Returns and Refunds

Refund and return policies are determined by the merchant from whom you made your purchase. If a merchant issues a refund for a QisstPay transaction:

• Full refunds will cancel any remaining installments and refund any payments already made
• Partial refunds will be applied to your remaining balance, adjusting future installment amounts
• Refund processing may take 5–10 business days depending on the payment method

7. Prohibited Activities

You agree not to:

• Use our Services for any unlawful purpose
• Provide false, inaccurate, or misleading information
• Attempt to create multiple accounts or circumvent credit limits
• Use another person's identity or CNIC to access our Services
• Attempt to reverse-engineer, exploit, or interfere with our platform
• Use our Services for money laundering or financing of terrorism

8. Intellectual Property

All content, trademarks, logos, and intellectual property displayed on QisstPay are owned by or licensed to Olivas Venture Capital. You may not reproduce, distribute, modify, or create derivative works from any of our intellectual property without prior written consent.

9. Limitation of Liability

To the fullest extent permitted by law, QisstPay and Olivas Venture Capital shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising out of or related to your use of our Services. Our total liability shall not exceed the total amount of installment payments you have made through our platform in the twelve (12) months preceding the claim.

10. Regulatory Compliance

QisstPay operates in compliance with applicable laws and regulations of Pakistan, including but not limited to directives from the Securities and Exchange Commission of Pakistan (SECP), the State Bank of Pakistan (SBP), and applicable anti-money laundering (AML) and counter-terrorism financing (CTF) laws.

11. Dispute Resolution

Any disputes arising from these Terms or your use of our Services shall first be resolved through good-faith negotiation. If a dispute cannot be resolved amicably, it shall be submitted to arbitration in accordance with the Arbitration Act 1940 of Pakistan. The arbitration shall be conducted in Karachi, Pakistan, and the decision of the arbitrator shall be final and binding.

12. Termination

We may suspend or terminate your account at any time if you violate these Terms, engage in fraudulent activity, or fail to make payments. Upon termination, any outstanding balance remains due and payable. You may close your account at any time by contacting us, provided all outstanding balances are settled.

13. Modifications to Terms

We reserve the right to modify these Terms at any time. Material changes will be communicated via email or through our platform. Continued use of our Services after changes take effect constitutes acceptance of the updated Terms.

14. Governing Law

These Terms are governed by and construed in accordance with the laws of Pakistan. Any legal proceedings shall be subject to the exclusive jurisdiction of the courts in Karachi, Pakistan.

15. Contact Information

For questions about these Terms of Service: