Terms Of Use
Last update: 4th of Apr 2026
1. Introduction and Acceptance of Terms
1.1 These Terms of Service (“Terms”) govern access to and use of the services provided by Yiksi LTD, including services offered through the website https://yiksi.so/ and money remittance platform Toospay (collectively, the “Platform”).
1.2 By accessing, browsing, registering, or using any part of the Platform or services, you confirm that you have read, understood, and agreed to be bound by these Terms. If you do not agree, you must not access or use the Platform or services.
1.3 Yiksi LTD is a company duly registered in the Federal Republic of Somalia (“Yiksi”, “we”, “us”, or “our”).
1.4 These Terms apply to both Business-to-Business (B2B) and Business to Consumer (B2C) users (“User”, “you”, or “your”).
2. Regulatory Status and Legal Framework
2.1 Yiksi LTD is duly licensed as a Money Transfer Business (MTB) by the Central Bank of Somalia (CBS) and operates in accordance with the applicable laws, regulations, directives, prudential guidelines, and circulars issued by the CBS from time to time.
2.3 These Terms are issued pursuant to, and shall be interpreted in accordance with, the Financial Institutions Law, 2025 (Law No. ___ of 2025) of the Federal Republic of Somalia (“FIL 2025”), including but not limited to:
A) Article 5 of FIL 2025, which regulates the licensing, permissible activities, and supervisory oversight of financial institutions and money service providers; and
B) Article 6(1)(e) of FIL 2025, which obligates licensed institutions to establish and maintain effective systems and controls to prevent money laundering, terrorist financing, and other financial crimes.
2.3 Yiksi LTD further complies with applicable international AML/CFT/CPF standards, including the Financial Action Task Force (FATF) Recommendations, to the extent applicable within the Somali legal and regulatory framework.
2.4 Nothing in these Terms shall be construed as limiting the powers of the Central Bank of Somalia or any other competent authority under applicable law.
3. Scope of Services
3.1 Yiksi provides regulated money remittance and payment services, including: – Payout Agent Services; Bulk Payment Services; and – International Money Transfer Services.
3.2 Services are provided strictly within the scope of Yiksi’s Money Transfer Business licence issued by the Central Bank of Somalia and are subject to regulatory limits, reporting obligations, and supervisory oversight.
3.3 Regulatory Disclosure No Deposit Taking: Yiksi LTD is not a bank and does not accept deposits within the meaning of the Financial Institutions Law, 2025. Funds received from Users are processed solely for the purpose of executing payment and remittance instructions and are not held as savings, investments, or interest-bearing balances.
3.4 Nothing in these Terms shall be construed as creating a debtor creditor relationship between Yiksi and any User beyond the execution of a specific transaction.
4. Account Registration and Eligibility
4.1 To access certain services, you may be required to create an account.
4.2 By registering, you represent and warrant that: – You are at least 18 years old and legally capable of entering into binding agreements; – All information provided is accurate, complete, and up to date; and you are acting with proper authority where acting for a business entity.
4.3 Yiksi reserves the right to refuse, suspend, or terminate accounts at its sole discretion in line with applicable laws and risk policies.
5. API Access and Integration
5.1 Yiksi may, at its sole discretion, provide certain Users, partners, or third-party service providers with access to the Platform through an Application Programming Interface (“API”) for the purpose of integrating Toospay into external systems, applications, or platforms.
5.2 Access to and use of the API shall be subject to prior approval by Yiksi and may require the execution of a separate API Integration Agreement, Service Agreement, or Partnership Agreement.
Users accessing the services through the API agree to: Use the API solely for lawful purposes and in accordance with these Terms; Ensure that all end-users onboarded through their systems comply with applicable KYC, AML/CFT, and sanctions requirements; Maintain appropriate security controls, authentication measures, and system safeguards to prevent unauthorized access, misuse, or compromise of the API; Ensure that all data transmitted through the API is accurate, lawful, and obtained with appropriate user consent.
5.4 The User or partner integrating through the API shall remain fully responsible for the conduct of any end-users accessing Yiksi services through such integration.
5.5 Yiksi reserves the right to:
Suspend or revoke API access at any time where misuse, security risk, regulatory concern, or breach of these Terms is identified; Impose transaction limits, monitoring requirements, or additional compliance checks on API-enabled services.
5.6 Yiksi shall not be liable for any losses arising from failures, interruptions, or technical errors occurring within the User’s or partner’s systems or API integration.
5.7 Yiksi may update, modify, or discontinue API functionality at any time where required for security, operational, or regulatory reasons.
6. API Security and Compliance
6.1 Users or partners accessing Yiksi services through the API shall implement and maintain appropriate technical and organizational security controls to protect the integrity, confidentiality, and availability of the API and any data exchanged through it.
6.2 API access credentials, including API keys, authentication tokens, certificates, or other access identifiers, must be kept strictly confidential and must not be shared, transferred, or exposed to unauthorized persons.
6.3 The integrating User shall ensure that its systems implement appropriate safeguards including, where applicable:
- Secure authentication and authorization mechanisms;
- Encryption of data in transit using industry-standard protocols;
- IP address restrictions or whitelisting where required;
- Monitoring of API usage and detection of abnormal or unauthorized activity.
6.4 The integrating User shall promptly notify Yiksi of any actual or suspected security incident, unauthorized access, or compromise affecting API credentials or systems connected to the Platform.
6.5 Yiksi reserves the right to monitor API usage, impose rate limits, suspend API credentials, or restrict access where necessary to protect the Platform, comply with regulatory obligations, or mitigate security risks.
6.6 Yiksi may periodically update API specifications, authentication methods, or security requirements. Integrating Users shall implement such updates within a reasonable timeframe to maintain continued access to the API.
6.7 Yiksi reserves the right to audit or request reasonable information regarding the integrating User’s security controls where necessary to ensure compliance with regulatory obligations, including AML/CFT and data protection requirements.
7. Know Your Customer (KYC), AML and Due Diligence
7.1 In compliance with Article 6(1)(e) of FIL 2025, the Anti-Money Laundering and Countering the Financing of Terrorism Act, and applicable Central Bank of Somalia directives, Yiksi LTD maintains a comprehensive AML/CFT/CPF compliance framework.
7.2 Users shall be subject to Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and ongoing monitoring, commensurate with the assessed risk profile of the User, transaction type, geographic exposure, and delivery channel.
7.3 Yiksi may require, at any time: – Valid government-issued identification; – Proof of address; – Source of funds and/or source of wealth information; – Business incorporation documents, beneficial ownership details, and board resolutions (for B2B clients).
7.4 Yiksi reserves the right to delay, refuse, suspend, or terminate any transaction or account where required information is not provided or where a transaction raises suspicion of money laundering, terrorist financing, fraud, or other unlawful activity.
7.5 Yiksi may file Suspicious Transaction Reports (STRs) and make disclosures to the Central Bank of Somalia, law enforcement agencies, or other competent authorities without notifying the User, as permitted or required by law.
8 Permitted and Prohibited Use
8.1 The User undertakes to use the services strictly for lawful purposes and in compliance with all applicable laws of the Federal Republic of Somalia and relevant international obligations.
8.2 Without limitation, the User shall not use the Platform or services for: – Money laundering, terrorist financing, or proliferation financing; – Fraud, forgery, identity theft, or misrepresentation; – Transactions involving sanctioned persons, entities, or jurisdictions; – Activities prohibited under FIL 2025 or any directive issued by the Central Bank of Somalia.
8.3 Sanctions Compliance: Users represent and warrant that they are not subject to sanctions imposed by: – The United Nations Security Council; – The Central Bank of Somalia; or – Any other applicable competent authority.
8.4 Yiksi reserves the right to screen Users and transactions against applicable sanctions lists and to block, freeze, or reject transactions where sanctions risks are identified, in accordance with law and regulatory directives.
8.5 Yiksi shall conduct transaction monitoring in line with Article 6(1)(e) of FIL 2025 and may report sanctioned or suspicious activity to competent authorities without prior notice.
8.6 Where services are accessed through an API or third-party integration, the integrating party shall ensure that its end-users comply with these Terms.
9. Transactions and Processing
9.1 Transaction execution is subject to successful verification, availability of payment channels, and compliance checks.
9.2 Yiksi does not guarantee processing times and shall not be liable for delays caused by third-party payment providers, correspondent banks, agents, or force majeure events.
9.3 All transactions are final once processed, except where reversal is required by law or regulator instruction.
10. Fees and Charges
10.1 Applicable fees shall have been agreed in a separate formal agreement between the user and Yiksi Ltd.
10.2 Yiksi reserves the right to revise fees in accordance with regulatory requirements and business needs.
11 Agents, Payout Partners, and Third-Party Service Providers
11.1 In accordance with Article 5 of FIL 2025 and applicable Central Bank of Somalia directives, Yiksi may appoint agents, payout partners, correspondent institutions, and third-party service providers to facilitate the delivery of its services.
11.2 All appointed agents and payout partners shall be subject to due diligence, onboarding, and ongoing monitoring consistent with Yiksi’s AML/CFT/CPF obligations.
11.3 Agents and payout partners acting on behalf of Yiksi shall: – Comply with all applicable laws, CBS directives, and contractual obligations; – Perform customer identification and verification where required; – Maintain accurate transaction records and make such records available to Yiksi or the CBS upon request; – Promptly report suspicious or unusual transactions to Yiksi.
11.4 Yiksi shall remain accountable to the Central Bank of Somalia for services delivered through its agents, without prejudice to contractual rights of recourse against such agents.
11.5 Yiksi shall not be liable for independent acts or omissions of agents or third parties that fall outside the scope of their authority or contractual mandate.
12 . Account Suspension and Termination
12.1 Yiksi may suspend, restrict, or terminate access to services where: – Required by law or regulatory directive; – There is suspected or confirmed breach of these Terms; – There is suspected financial crime or misuse of services; or – The User fails to provide requested information.
12.2 Any remaining obligations shall survive termination.
13. Funds Safeguarding and Settlement Risk
13.1 In accordance with applicable Central Bank of Somalia requirements and international best practice for money transfer businesses, Yiksi LTD maintains appropriate funds safeguarding and settlement controls.
13.2 Funds received from Users for the purpose of executing remittance or payment instructions are: Held solely for transaction settlement purposes and segregated operationally and/or contractually from Yiksi’s own operating funds, where required by law or regulatory directive.
13.3 Yiksi does not use customer funds for proprietary trading, lending, investment, or any purpose other than the execution of the specific transaction instructed by the User.
13.4 Settlement Risk Disclosure: Users acknowledge that settlement of transactions may be subject to risks arising from: Delays or failures of correspondent banks, payout partners, or payment service providers, Cut-off times, time zone differences, or system outages.
13.5 Yiksi shall take reasonable measures to mitigate settlement risk but shall not be liable for losses arising from circumstances beyond its reasonable control, except where caused by Yiksi’s gross negligence or wilful misconduct.
14 Data Protection and Confidentiality
14.1 Yiksi shall process personal data in accordance with applicable data protection laws and its Privacy Policy.
14.2 User information may be disclosed to regulators, law enforcement, correspondent institutions, or agents where legally required or permitted.
15. Limitation of Liability
15.1 Services are provided on an “as is” and “as available” basis.
15.2 To the maximum extent permitted by law, Yiksi shall not be liable for indirect, incidental, or consequential losses.
15.3 Nothing in these Terms limits liability where such limitation is prohibited by law.
16. Indemnity
You agree to indemnify and hold harmless Yiksi, its directors, employees, and agents against any claims arising from your breach of these Terms or misuse of the services.
17 . Regulatory Reporting and Record Retention
17.1 In compliance with FIL 2025, Central Bank of Somalia directives, and applicable AML/CFT/CPF laws, Yiksi LTD shall maintain accurate, complete, and auditable records of: – Customer identification and due diligence documentation; – Transaction records, including originator and beneficiary details; – Agent and payout partner agreements and monitoring reports; – Regulatory filings, including Suspicious Transaction Reports.
17.2 Records shall be retained for a minimum period of five (5) years from the date of completion of the transaction or termination of the business relationship, or such longer period as may be required by applicable law or regulatory instruction.
17.3 Yiksi shall make such records available to the Central Bank of Somalia or other competent authorities upon lawful request.
18. Amendments
18.1 Yiksi may amend these Terms from time to time.
18.2 Continued use of the services constitutes acceptance of revised Terms.
19. Governing Law and Jurisdiction
19.1 These Terms of Service shall be governed by and construed in accordance with the laws of the Federal Republic of Somalia, including the Financial Institutions Law, 2025.
19.2 The courts of the Federal Republic of Somalia shall have exclusive jurisdiction over any dispute, claim, or controversy arising out of or in connection with these Terms or the services, subject to any mandatory regulatory or supervisory powers of the Central Bank of Somalia.
20. Consumer Protection and Complaints Handling
20.1 Yiksi is committed to fair treatment of customers and effective resolution of complaints in line with Central Bank of Somalia consumer protection expectations.
20.2 Users may lodge complaints, disputes, or service concerns through: – Email: info@yiksi.so or – Any official communication channel published on the Platform.
20.3 Complaints shall be acknowledged within a reasonable timeframe and investigated promptly. Yiksi shall endeavour to resolve complaints fairly and transparently.
20.4 Where a User is dissatisfied with the outcome, the complaint may be escalated internally in accordance with Yiksi’s complaints escalation procedures.
20.5 Nothing in this section limits the User’s right to refer unresolved complaints to the Central Bank of Somalia or other competent authorities, where permitted by law.
21. Contact Information
For questions, complaints, or regulatory inquiries, contact:
YIKSI LTD
Email: info@yiksi.so
Website: https://yiksi.so
Acceptance
By using the Platform and services, you confirm your acceptance of these Terms of Service.
Yiksi is licensed by the Central Bank of Somalia as a Remittance Service Provider and operates in full compliance with all applicable regulatory, compliance, and governance standards.
Company
Legals
Contact Us
Yiksi HQ
Abdiaziz District, Mogadishu, Somalia
+252 770738009
info@yiski.so