GadaaPay — Terms of Service
Effective Date: January 2025
Last Updated: January 2025
Version 1.0 — United States Only
1. Introduction
Welcome to GadaaPay, a U.S.–based peer-to-peer and merchant payment platform owned and operated by GadaaPay LLC (“we,” “us,” or “our”). By creating an account, accessing the application, or using any of GadaaPay’s services, you agree to be bound by these Terms of Service (“Terms”). These Terms establish a legally binding agreement between you and GadaaPay LLC. If you do not agree to these Terms, you must discontinue use of the application and its services.
2. Services Provided by GadaaPay
GadaaPay enables individuals to add money to their digital wallet, send and request funds, withdraw to a connected bank account, review transaction history, and secure their account using OTP, PIN, or biometric login. For merchants, GadaaPay provides tools to accept customer payments via QR code, manage a business profile, issue refunds where applicable, monitor payouts, and receive funds through Stripe Connect. GadaaPay is not a bank; wallet balances are stored and processed through licensed partners such as Stripe, Stripe Connect, and Stripe Treasury.
3. Eligibility Requirements
To use GadaaPay as an individual, you must be at least 18 years old, reside in the United States, possess a U.S. phone number, and provide truthful personal information. To create a business account, the business must legally operate within the United States, complete all required KYB verification steps, and provide a valid EIN or SSN for sole proprietorships. Businesses appearing on prohibited or high-risk lists may not use GadaaPay. We reserve the right to decline, restrict, or terminate any account that does not meet requirements.
4. Account Verification
To comply with U.S. financial regulations, all individuals and businesses must complete identity verification. Individual users may be required to submit a government-issued ID, pass facial verification, and provide the last four digits of their SSN. Businesses may be required to provide an EIN, legal business name, business address, owner SSNs, ownership structure, and verification for beneficial owners as required by FinCEN. Verification is powered by Stripe Identity and Stripe Connect.
5. Wallet Balance
Your GadaaPay wallet balance is not a bank account. Funds held within GadaaPay are custodially stored through regulated financial partners and are not eligible for interest. You agree not to bypass system rules, not to misuse stored funds for illegal purposes, and not to create multiple personal accounts without authorization.
6. Sending and Receiving Money
When you send money using GadaaPay, you authorize us to debit your wallet or linked payment method. Transfers are typically instant, and once funds are sent, they cannot be reversed unless the receiving user voluntarily returns the funds. When receiving money, you understand that transactions may be temporarily held for risk review. You are responsible for securing your account using your PIN or biometric login. We reserve the right to freeze or hold transactions if suspicious activity is detected.
7. Adding and Withdrawing Funds
To add or withdraw funds, you must link a valid debit card or bank account and complete verification steps. Withdrawals may take time to process, and failed payouts may require updated information. All payment processing is handled by Stripe.
8. Fees
GadaaPay may charge service fees, processing fees, and platform fees. For individual users, fees may include small service fees, instant withdrawal fees, and fees associated with refunds or disputes. For merchants, fees include transaction processing fees, dispute or chargeback fees, and refund fees where Stripe imposes non-refundable processing costs. A full schedule of fees is published on our website and may be updated at any time. Continued use of the platform constitutes agreement to updated fees.
9. Business Accounts (Merchants)
Business accounts are subject to additional terms. By creating a merchant profile, you affirm that you are authorized to represent the business and that all transactions processed through GadaaPay are legal and compliant. Payout schedules are set by Stripe and may be delayed if verification is incomplete, risk is detected, or disputes are filed. You are responsible for chargeback fees, maintaining documentation for disputed transactions, and covering any negative balance. If your merchant balance becomes negative, you authorize GadaaPay to debit your linked bank account. Merchants may not use GadaaPay for prohibited or high-risk business activities, including illegal goods, adult content, weapons, cryptocurrency trading, or unregistered charities. A complete list of prohibited business types is available on our website.
10. Fraud Monitoring
GadaaPay continuously monitors accounts for fraud indicators, including excessive failed payments, unusual sending patterns, device changes, suspicious merchant activity, and high dispute rates. We may request additional documentation, place limits on account activity, hold funds, or suspend or terminate access to protect users and comply with U.S. financial laws. Stripe’s risk assessment systems also apply.
11. Disputes and Chargebacks
If a user disputes a transaction, Stripe may withdraw funds from your balance, request supporting documentation, or impose a dispute fee. You are responsible for responding to dispute requests promptly and providing accurate information. GadaaPay does not control chargeback outcomes.
12. Refund Policy
Refunds for peer-to-peer transactions are voluntary and must be initiated by the receiving user. Merchants may issue refunds based on their own policies unless required by law. Stripe processing fees are non-refundable and may be deducted from the merchant’s balance.
13. Data and Privacy
To comply with regulatory and operational requirements, GadaaPay collects and shares data with Stripe and its financial partners. This includes names, phone numbers, addresses, SSN (last four), government ID images, device information, transaction history, and business-related information. GadaaPay does not sell user data. Full details of data usage are available in our Privacy Policy.
14. Account Termination
We may suspend or terminate your account if you violate these Terms, fail identity verification, engage in fraudulent or illegal activity, misuse P2P for business purposes, or attempt chargeback fraud. Users may close their accounts at any time, but we may retain or hold funds as required for compliance, fraud investigation, or dispute resolution.
15. Limitation of Liability
GadaaPay is not liable for any losses or damages resulting from misuse of the application, delays caused by Stripe or banking networks, fraud arising from compromised passwords or PINs, or decisions made by Stripe regarding verification or payouts. GadaaPay functions as a platform and does not control financial settlement systems.
16. Governing Law
These Terms are governed by the laws of the State of Minnesota and applicable United States federal regulations.
17. Contact Information
For legal notices, disputes, or general questions, contact us at:
Email: support@gadaapay.com
Website: https://gadaapay.com
Location: Minnesota, USA