Last updated: March 2026
Legal Entity: SAMNA FINANCE LTD
Registration Number: BC1348845
Jurisdiction: Canada
Contact: account@samna-finance.com
These Terms of Use (“Terms”) govern the use of services provided by SAMNA FINANCE LTD, a limited liability company incorporated under the laws of Canada, having its registered office at 7-2070 Harvey Ave. Unit #173, Kelowna, BC V1Y 8P8, Canada (“Samna Finance”, “we”, “us”, “our”), through the website located at https://samna-finance.com (the “Website”). By accessing the Website or using our Services, you agree to be bound by these Terms.
SAMNA FINANCE LTD is registered with the Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”) as a Money Services Business (“MSB”) (registration number: M23973728) and has applied for license with the Bank of Canada as a PSP (“PSP”) with the Bank of Canada under the Retail Payment Activities Act, in accordance with applicable Canadian financial regulations.
Samna Finance is not a bank and does not accept deposits. Funds held by Samna Finance on behalf of Merchants during payment processing and settlement are not insured by the Canada Deposit Insurance Corporation (CDIC) or any other deposit insurance scheme. Samna Finance safeguards such funds in accordance with its obligations under the Retail Payment Activities Regulations.
“Applicable Law” means all applicable federal, provincial, and territorial laws, regulations, rules, and orders of Canada, including but not limited to the PCMLTFA, the RPAA and RPAR, PIPEDA, the Criminal Code (Canada), the Special Economic Measures Act, Canada’s Anti-Spam Legislation (CASL), and any other legislation applicable to the Services.
“Card” means a valid credit, debit, pre-paid, charge, or payment card branded as Visa, Mastercard, American Express, or any other card scheme accepted by Samna Finance.
“Card Scheme” means any international card organisation, including but not limited to Visa International Inc., Mastercard International Inc., American Express, and China UnionPay.
“Cardholder” means a natural person to whom a Card is issued or who is otherwise authorized to use a Card.
“Chargeback” means a reversal of a Payment initiated by a Cardholder, the Card Scheme, or the Cardholder’s issuing bank.
“Data Protection Laws” means PIPEDA, the EU General Data Protection Regulation (Regulation (EU) 2016/679), and any other applicable legislation governing the protection of personal data, in each case as amended from time to time.
“End-user” or “Payer” means a natural person who makes a payment to a Merchant through the Services; Samna Finance has no direct contractual relationship with End-users.
“Merchant website” means the online electronic environment (website) of a Merchant through which goods or services are offered to End-users and Card payments are accepted.
“FINTRAC” means the Financial Transactions and Reports Analysis Centre of Canada, established under the PCMLTFA.
“Fees” means the fees, charges, and commissions payable by the Merchant to Samna Finance for the Services, as set out in the applicable service agreement or fee schedule.
“Merchant” or “you” means any legal entity that has entered into an agreement with Samna Finance for the purpose of accepting payments, processing transactions, or receiving settlement services.
“Merchant Account” means an account maintained by Samna Finance for a Merchant, created upon successful registration and verification, through which payment processing and settlement services are provided.
“Payment” means a payment transaction initiated by a Cardholder using a Card through the Merchant’s website.
“Payment Gateway” means the payment gateway provided by Samna Finance complying with PCI DSS level 1, through which Payment data is transmitted and processed.
“PCMLTFA” means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, S.C. 2000, c.17, as amended from time to time, and all regulations made thereunder.
“PIPEDA” means the Personal Information Protection and Electronic Documents Act, S.C. 2000, c.5, as amended from time to time.
“MSB” means Money Services Business, as defined in the PCMLTFA.
“PSP” means Payment Service Provider, as defined in the RPAA.
“Prohibited Activities” means the activities listed in Section 7 of these Terms.
“Refund” means a return of funds to a Cardholder for a previously completed Payment.
“Reversal” means the cancellation of a Payment before final settlement.
“Rolling Reserve” means a percentage of the settlement amount withheld by Samna Finance for a specified period to cover potential Chargebacks, Refunds, Reversals, fines, and other liabilities, as agreed in the applicable service agreement.
“RPAA” means the Retail Payment Activities Act, S.C. 2021, c.23, s. 177, as amended from time to time.
“RPAR” means the Retail Payment Activities Regulations, SOR/2023-229, as amended from time to time.
“Services” means the payment processing, acquiring, settlement, and related services provided by Samna Finance as described in Section 2 of these Terms.
“Website” means the website located at https://samna-finance.com, including all pages, features, and content made available through it.
2.1 Samna Finance provides the following Services to Merchants including but not limited to:
2.2 Samna Finance acts as an payment methods aggregator and collaborate with acquirers, intermediary payment institutions, local payment methods providers to process Payments for different Card Schemes and other payment methods.
2.3 The Merchant shall use the Payment Gateway provided by Samna Finance (via Hosted Payment Page and/or API integration, as agreed) for payment acceptance.
2.4 The Services are provided on an “as is” and “as available” basis. Access to the Services may be changed, or partially or completely suspended, with advance notice to the Merchant, where justified by technical circumstances, changes in Applicable Law, or system maintenance. Such suspension shall be limited to the extent necessary and shall not continue for more than 30 calendar days.
3.1 To access the Services, the Merchant must:
(a) be duly incorporated or registered and in good standing under the laws of its jurisdiction;
(b) undergo and pass KYB/KYC verification as required by Samna Finance;
(c) disclose ultimate beneficial owners (UBOs), shareholders, directors, and legal representatives;
(d) provide full and accurate information about its business activities;
(e) comply with all AML, CTF, and sanctions regulations;
(f) hold appropriate licences where required by Applicable Law;
(g) not be incorporated in, operating from, or serving customers in jurisdictions listed on the Sanctioned Countries & Not supported Types of Business page on the Website;
(h) not conduct any Prohibited Activities (Section 7).
3.2 Samna Finance may refuse registration or onboarding at its sole discretion following its risk appetite.
3.3 By using the Services, the Merchant agrees to comply with Samna Finance’s AML/KYC Policy and applicable laws and regulations, accept and agree with Service Agreement and these Privacy Policy and Terms and Conditions which form part of the contractual framework between the Merchant and Samna Finance.
4.1 Upon successful onboarding, Samna Finance will provide the Merchant with access to a Merchant Account and Merchant credentials to view, manage, and administer Payments.
4.2 Samna Finance is required by the PCMLTFA to verify the identity of its clients before providing services. The Merchant agrees to provide all information and documentation reasonably requested for identification, verification, and ongoing monitoring.
4.3 The Merchant is solely responsible for maintaining the confidentiality of its login credentials and for all activity occurring under its Merchant Account. The Merchant shall notify Samna Finance immediately at compliance@samna-finance.com of any unauthorised access.
4.4 Samna Finance may, at its sole discretion and without prior notice, suspend, restrict, or terminate the Merchant’s access to the Services in accordance with Section 13 of these Terms.
5.1 The Merchant shall use the Services in accordance with Applicable Law, Card Scheme rules, rules and requirements of other payment methods providers and these Terms.
5.2 Types of Transactions. The Merchant shall use the Services solely to process bona fide Payments for goods or services lawfully offered on the Merchant’s website. The Merchant shall not submit, or cause to be submitted, any Payment that does not arise from a genuine sale. The Merchant shall not act as an intermediary or submit Payments on behalf of any third party.
5.3 Treatment of Customers. The Merchant shall:
(a) clearly describe all goods and services offered on its website;
(b) prominently display the Merchant’s name, registration number, address, and contact details on its website;
(c) prominently display its return and refund policy, the Transaction currency, consumer data privacy policy, and the acceptance marks of each Card Scheme;
(d) Do not accept Card schemes or other payment methods provided from issuers of sanctioned countries and for users from sanctioned countries.
(e) not engage in negative option billing, pre-checked consent boxes, or deceptive up-selling practices;
(f) where the Merchant processes recurring or subscription-based Payments, obtain the Payer’s express consent, provide written confirmation of the recurring terms, provide a simple cancellation mechanism, and cease recurring billing promptly upon cancellation.
5.4 Payouts. Settlement of acquired funds, less Fees, Rolling Reserve, and any other amounts due, shall be initiated to the Merchant within the term stipulated in the applicable service agreement. Samna Finance shall hold Merchant funds in a segregated account and shall release them in accordance with the settlement terms.
5.5 Rolling Reserve. Samna Finance may establish and maintain a Rolling Reserve from the Merchant’s acquired funds as agreed in the applicable service agreement. The amount and retention period shall be set out in the service agreement and may be adjusted by Samna Finance upon written notice.
5.6 Disputes, Refunds, and Chargebacks.
(a) The Merchant is solely responsible for all Refunds, Chargebacks, and Reversals, including any related fees, fines, or penalties imposed by Card Schemes.
(b) Refunds shall be processed exclusively through Samna Finance and credited to the same Card used in the original Payment. The Refund amount shall not exceed the original Payment amount.
(c) The Merchant shall cooperate fully with Samna Finance in connection with any Chargeback, dispute, or retrieval request, including by providing all requested documentation within five (5) business days of Samna Finance’s request.
(d) Samna Finance may deduct Chargeback amounts, related fees, and penalties from the Merchant’s acquired funds or Rolling Reserve.
5.7 Cooperation in AML/CTF Matters. The Merchant shall, upon Samna Finance’s request, provide information about its End-users in connection with AML/CTF compliance, suspicious transaction investigations, or regulatory enquiries. Failure to provide requested information within the timeframe specified by Samna Finance may result in suspension of the Services, freezing of transactions, or termination of the agreement, in accordance with Samna Finance’s obligations under the PCMLTFA.
5.8 Cooperation with Third-Party Payment Providers. The Merchant acknowledges that Samna Finance processes Payments through intermediary institutions and third-party payment providers. The Merchant agrees that Samna Finance may share Merchant and transaction data with such providers to the extent necessary for the provision of the Services, in accordance with Applicable Law and the Data Protection Laws. The Merchant shall comply with any additional requirements imposed by such providers.
6.1 AML/CTF Compliance. Samna Finance is subject to the PCMLTFA and the regulations administered by FINTRAC. The Merchant acknowledges that Samna Finance is required to conduct client identification, ongoing monitoring, suspicious transaction reporting, and record-keeping as a registered MSB. The Merchant agrees to cooperate fully with these requirements.
6.2 RPAA Compliance. Samna Finance has applied for license with the Bank of Canada as a PSP under the RPAA. Samna Finance maintains a written risk management and incident response framework in accordance with its regulatory obligations. Samna Finance segregates Merchant funds from its own operational funds. In the event of an incident that could materially affect the Services or the Merchant’s funds, Samna Finance shall notify the Merchant as soon as practicable.
6.3 Sanctions Compliance. Samna Finance screens all transactions against applicable sanctions lists, including those maintained under the Special Economic Measures Act, the Criminal Code (Canada), and the United Nations Act. If the Merchant or any transaction is identified as involving a sanctioned person, entity, or jurisdiction, Samna Finance may freeze the Merchant Account, block the transaction, and report the matter to the relevant authorities.
7.1 The Merchant shall not use the Website, the Merchant Account, or the Services for any purpose that is unlawful, fraudulent, or prohibited by these Terms. The Merchant shall not be incorporated in, operating from, or serving customers in jurisdictions listed on the Sanctioned Countries on the page at https://samna-finance.com/docs/sanctioned-countries-and-types-of-business.
7.2 The Merchant is prohibited from selling goods or providing services linked to the activities listed below and on the not supported and projibited Types of Business page at https://samna-finance.com/docs/sanctioned-countries-and-types-of-business.
7.3 The Merchant shall not attempt to gain unauthorised access to any part of the Website, the Services, other Merchants’ Accounts, or any systems connected to the Website.
8.1 Fees are agreed contractually in the applicable service agreement or fee schedule. All Fees are immediately due and payable upon provision of the Services.
8.2 Samna Finance may collect Fees by debiting acquired funds before payouts, debiting the Rolling Reserve, or invoicing the Merchant.
8.3 Samna Finance is not responsible for: (a) delays caused by banking systems, payment networks, or intermediary institutions; (b) incorrect or incomplete payment information provided by the Merchant or Payer; or (c) any loss arising from currency fluctuations where currency conversion is applied.
Samna Finance collects, uses, discloses, and protects personal information in accordance with its Privacy Policy and the Data Protection Laws. By using the Services, the Merchant consents to the collection and processing of information as described in the Privacy Policy.
In the event of a breach of security safeguards involving personal information, Samna Finance shall notify the affected parties and report the breach to the Office of the Privacy Commissioner of Canada in accordance with PIPEDA.
For full details, please refer to our Privacy Policy at https://samna-finance.com/docs/privacy-policy.
By creating a Merchant Account, the Merchant consents to receive electronic communications from Samna Finance, including transactional messages, regulatory notices, and service announcements. Certain communications required by Applicable Law cannot be opted out of.
All content, materials, software, trademarks, and intellectual property on the Website are the property of Samna Finance or its licensors. The Merchant is granted a limited, non-exclusive, revocable licence to access and use the Website for its intended purposes, subject to these Terms.
12.1 Samna Finance is not a party to an agreement between the Merchant and the Payer and does not assume any liability for the goods or services provided by the Merchant.
12.2 The Merchant assumes full liability for all Chargebacks, Refunds, Reversals, and related fees, fines, and penalties incurred by Samna Finance in connection with the Services.
12.3 To the maximum extent permitted by Applicable Law, Samna Finance shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, data, or goodwill.
12.4 Samna Finance’s total aggregate liability shall not exceed the amount of Fees paid by the Merchant in the three (3) months preceding the event giving rise to the claim.
13.1 Samna Finance may suspend or terminate the Services immediately if: (a) the Merchant violates these Terms; (b) AML/CTF risk is unacceptable; (c) the Merchant provides false information; (d) the Merchant becomes subject to sanctions; (e) the Merchant engages in Prohibited Activities; (f) Samna Finance is required to do so by FINTRAC, the Bank of Canada, or any other regulatory authority; (g) the Merchant’s Chargeback ratios exceed Card Scheme thresholds; or (h) the Merchant fails to provide requested documentation within the specified timeframe.
13.2 The Merchant may terminate the agreement with written notice to compliance@samna-finance.com, subject to outstanding obligations.
13.3 Upon termination: (a) the Merchant’s access to the Services shall immediately cease; (b) any outstanding fees or obligations shall become immediately due; (c) Samna Finance shall settle all funds due to the Merchant within ten (10) business days, excluding Rolling Reserve amounts which shall be released in accordance with the service agreement; and (d) Samna Finance shall retain records for the period required by Applicable Law, including a minimum of five (5) years under the PCMLTFA and the RPAA.
The Merchant agrees to indemnify, defend, and hold harmless Samna Finance from and against any claims, losses, damages, liabilities, costs, and expenses (including reasonable legal fees) arising out of: (a) the Merchant’s use of the Services; (b) the Merchant’s breach of these Terms; (c) the Merchant’s violation of Applicable Law; (d) any fraudulent, negligent, or wrongful act by the Merchant; or (e) any claim by a third party arising from the Merchant’s use of the Services.
Samna Finance shall not be liable for any failure or delay in performing its obligations to the extent caused by circumstances beyond its reasonable control, including acts of God, natural disasters, pandemics, war, terrorism, government actions, sanctions, power failures, internet or telecommunications failures, cyberattacks, or the acts of third-party service providers, banking partners, or payment networks.
Complaints may be submitted in writing to compliance@samna-finance.com. Samna Finance shall acknowledge receipt within five (5) business days and respond within thirty (30) business days. If unsatisfied, the Merchant may escalate the matter to the applicable regulatory authority.
Samna Finance reserves the right to modify these Terms at any time by posting the updated Terms on the Website and updating the “Last updated” date. Changes take effect immediately upon posting. Your continued use of the Website or the Services after any modification constitutes your acceptance of the modified Terms. If you do not agree with the changes, you must stop using the Services and close your Merchant Account.
These Terms are governed by the laws of the Province of British Columbia and the federal laws of Canada applicable therein. Any disputes shall be resolved first by good faith negotiation. If the dispute cannot be resolved within thirty (30) days, it shall be submitted to the exclusive jurisdiction of the courts of British Columbia, Canada.
If any provision of these Terms is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect.
These Terms, together with the Privacy Policy and Service agreement and fee schedule between the Merchant and Samna Finance, constitute the entire agreement with respect to the subject matter hereof.