1. General Provisions
These Terms of Service (hereinafter — "Terms") govern the use of the Litas platform (hereinafter — "Platform"), available at litas.cloud.
By registering and using the Platform, you confirm that you have read, understood and agree to these Terms.
2. Description of Services
Litas provides payment acceptance services to merchants, enabling them to accept payments from customers using:
- QR payments — via the Paysera Checkout system
- Open Banking (PSD2) — direct bank transfers
- Tap to Pay — contactless card payments via the Adyen SDK
The Platform also provides: a payment administration panel, real-time transaction monitoring, report generation and POS (point of sale) mobile applications.
3. Registration and Account
- Accurate and truthful information must be provided upon registration
- Each account must correspond to a single legal or natural person
- The merchant is responsible for the security of their login credentials
- The Platform has the right to require additional identity verification (KYC)
4. KYC/AML Requirements
Under anti-money laundering rules, the merchant must:
- Provide a valid identity document
- Provide business registration documents (for legal entities)
- Declare the ultimate beneficial owners (UBO)
- Update information when circumstances change
The Platform has the right to suspend services if KYC requirements are not fulfilled.
5. Payment Processing
- Payments are processed through third-party payment service providers (Paysera, Adyen)
- The Platform is not a payment institution and does not hold client funds
- Transaction processing time depends on the payment method and the payment service provider
- The Platform is not liable for delays caused by the payment service provider
6. Payouts
- Payouts are made to the merchant's specified IBAN account
- Standard payout timeline — next business day (T+1)
- The Platform has the right to hold payouts in the event of suspected fraud
- A minimum payout amount may apply
7. Fees and Commissions
- Monthly platform fee: according to the selected plan
- Transaction commission: according to the payment method and volume
- Exact rates are specified in the account settings or in a separate agreement
- The Platform has the right to change rates with 30 days' prior notice to the merchant
8. Prohibited Activities
When using the Platform, it is prohibited to:
- Accept payments for illegal activities or goods
- Engage in money laundering or financing of terrorist activities
- Attempt to deceive or manipulate the Platform
- Use the Platform on behalf of unauthorized third parties
- Infringe intellectual property rights
9. Account Suspension and Closure
The Platform has the right to suspend or close an account if:
- These Terms are violated
- KYC requirements are not fulfilled
- Dishonest activity is suspected
- Required by law or supervisory authorities
10. Limitation of Liability
- The Platform is provided on an "as is" basis
- We are not liable for losses due to disruptions of third-party services
- We are not liable for losses due to unauthorized access if the merchant failed to protect their login credentials
- Maximum liability is limited to the commission fees paid in the last 12 months
11. Intellectual Property
All Platform software, designs, logos and content are the property of Litas. Copying, modifying or distributing without written consent is prohibited.
12. Dispute Resolution
- Disputes shall first be resolved through negotiation
- Disagreements shall be resolved by the courts of the Republic of Lithuania
- The law of the Republic of Lithuania shall apply
13. Changes to the Terms
The Platform has the right to amend these Terms. We will notify you of significant changes by email or via a platform notification no less than 30 days in advance.
14. Contact
For any questions:
Email: info@litas.cloud
Website: litas.cloud