Asima Terms and Conditions

Last updated on 18 August 2025

Information about us - Service provider

Asima is a division of Wonderful Payments Ltd ("WP", "Asima", "we", "us"), a company incorporated and registered in England and Wales (Company No. 12601267) with its registered office at 41 Luke Street, London EC2A 4DP. Wonderful Payments Ltd is regulated by the Financial Conduct Authority as an Authorised Payment Institution (Firm Reference No. 964289).

WP shall be solely responsible for all obligations, liabilities, and commitments arising from or in connection with the provision of the Services. Any reference to "Asima" in these Terms shall be understood to mean WP.

Information about the end user

These terms and conditions apply to the end user ("end-user", "you"). Each time you use our services, you agree to read, have understood, and to be bound by our terms and conditions.

Contacting us

Please contact us by email at asima@wonderful.co.uk or post to our registered office address.

Contract

Your contract with us comprises these Terms and your signed Order Form. These Terms override any others you may seek to introduce.

  1. Term

    1. This Contract shall commence on the Commencement Date as defined in the Order Form.
    2. It shall remain in force for a fixed term of 12 months ("Initial Term").
    3. The Contract shall automatically renew for successive 12-month terms (each a "Renewal Term") unless either party gives written notice of non-renewal at least 30 days before the end of the Initial Term or any Renewal Term.

  2. Registration and Onboarding

    1. You must provide all KYC/AML documentation we reasonably require. We may refuse or suspend services at our discretion if information is missing, inaccurate or raises compliance concerns.

  3. Compliance with Laws and Regulations

    1. Asima and the Client shall each comply with all applicable laws, regulations, and regulatory requirements in connection with their use and provision of the Services, including but not limited to the Payment Services Regulations 2017 (as amended), the UK General Data Protection Regulation (UK GDPR), the Data Protection Act 2018, and all relevant guidance and rules issued by the Financial Conduct Authority (FCA).
    2. Asima affirms that it is authorised by the FCA to provide Account Information Services and Payment Initiation Services and shall maintain such authorisation throughout the term of this Agreement. The Client shall not use the Services in any way that would cause either Party to breach any applicable law or regulation.
    3. The Client is solely responsible for ensuring that its use of the Services (including any onward data processing or payment instructions) complies with all applicable legal and regulatory obligations, including obtaining any necessary end-user consents where required.

  4. Services

    1. We provide API-based Transaction Services enabling direct account-to-account payments and data services in accordance with the Order Form.

  5. Fees and Payment

    1. Fees comprise a Set-up Fee, Subscription Fees, and any Overage Charges, each detailed in your Order Form.
    2. You will pay monthly in advance, with overage fees (if any) settled monthly in arrears.
    3. We reserve the right to increase fees at the start of each Renewal Term upon written notice.
    4. Late payments attract interest at 3% above the Bank of England base rate.

  6. Intellectual Property

    1. All IP in our Services and APIs remains ours. You are granted a non-exclusive, non-transferable licence for the duration of the Contract to use the Services solely for your internal business purposes.

  7. Use of Services

    1. You must: Keep credentials secure; Not misuse the API or platform; Not breach applicable law.
    2. We may suspend or terminate access if you do.

  8. Support and Maintenance

    1. We provide support in accordance with the SLA. Maintenance windows will be scheduled and communicated in advance where possible. Emergency maintenance may occur without prior notice to address urgent issues.

  9. Service Changes

    1. We may update, modify, or discontinue any part of the Services or APIs with reasonable notice. We aim to minimize disruption and communicate any significant changes in advance.

  10. Force Majeure

    1. Neither party shall be liable for any failure or delay in performance caused by circumstances beyond their reasonable control, including natural disasters, war, strikes, or government actions.

  11. Conflict

    1. If there is any conflict between these terms and terms that apply to additional Services, the terms applying to any additional Services will prevail in the conflict.

  12. Complaints and Dispute Resolution

    1. If you are dissatisfied with any aspect of the Services provided by Asima, you may raise a complaint by contacting us using one of the following methods:
    2. We will acknowledge your complaint promptly and aim to resolve it as quickly as possible, in accordance with our internal complaints handling policy. A copy of our Complaints Procedure is available upon request.
    3. If you are not satisfied with our final response, or if we do not resolve your complaint within 15 business days (or 35 business days in exceptional circumstances), you may be entitled to refer your complaint to the Financial Ombudsman Service (FOS). The FOS is a free and independent service for resolving disputes between customers and financial services providers.
    4. You can contact the Financial Ombudsman Service at:

  13. Technical Issues and Liabilities

    1. While Asima strives to provide reliable and secure access to your Account Information, we cannot guarantee the continuous or error-free functionality or suitability of your bank's systems. We are responsible for retrieving and transmitting your Account Information safely and securely, but we do not control or guarantee the accuracy, completeness, or content of that information, which remains the responsibility of your bank.

  14. Liability

    1. Our total aggregate liability in any Contract Year shall not exceed the greater of £1,000 or 125% of fees paid during that year.
    2. We shall not be liable for indirect losses, loss of profit, or third-party failures (e.g., bank outages).

  15. Termination

    1. Either party may terminate for material breach not remedied within 30 days.
    2. Either party may terminate with 30 days' written notice prior to the end of the Initial or Renewal Term.
    3. We may terminate with immediate effect if required by law or if your continued use could damage our reputation or compliance status.

  16. Confidentiality

    1. Both parties will keep confidential all commercial and technical information for the duration of the Contract and for 2 years following its termination.

  17. Indemnity

    1. You agree to indemnify and hold us harmless from any claims, losses, or damages arising out of your misuse of the Services or breach of these Terms.

  18. Data Protection

    1. Each party will act as independent data controllers and comply with all applicable Data Protection Law.

  19. Data Security

    1. We implement reasonable technical and organizational measures to protect your data from unauthorized access or disclosure.

  20. Data Retention & Deletion

    1. Our data retention and deletion policy is accessible here.

  21. Privacy & Cookies

    1. Our privacy policy is accessible here, and our Cookie policy is accessible here.

  22. Governing Law

    1. This Contract is governed by English law and subject to the exclusive jurisdiction of the courts of England and Wales.

Important: These Terms are issued by Wonderful Payments Ltd, a company authorised by the FCA under the Payment Services Regulations 2017.