Merchant Services Agreement

Effective Date: [Jan 01, -2025]

This Merchant Services Agreement governs a Merchant’s access to and use of WalletPlug payment services. By applying for, accessing, or using the Services, the Merchant agrees to be legally bound by this Agreement.

This Agreement supplements and overrides the WalletPlug Terms of Service where applicable to Merchants.

1. Definitions

Merchant means the business entity approved to process payments through WalletPlug.

Services means payment processing, checkout APIs, plugins, payment links, transaction routing, settlement facilitation, reporting tools, and related services.

Transaction means any payment attempt submitted through WalletPlug.

Chargeback means a transaction reversed or disputed by a cardholder or issuing bank.

Reserve means funds held by WalletPlug to cover potential liabilities.

2. Scope of Services

WalletPlug provides technology to facilitate payment acceptance and settlement through third-party processors and financial partners.

WalletPlug is not a bank, card issuer, money transmitter, or escrow provider and does not guarantee transaction approval, settlement, or payout timing.

3. Merchant Approval and Onboarding

Merchant approval is discretionary and subject to ongoing review.

WalletPlug may require:

• business documentation

• identity verification

• product or service review

• enhanced due diligence

Approval does not constitute a guarantee of continued access.

4. Fees and Pricing

Unless otherwise agreed in writing, the Merchant authorizes WalletPlug to deduct the following fees per successful transaction:

• Transaction fee: 3.5 percent

• Fixed processing fee: 0.35 USD

Additional fees may apply, including but not limited to:

• chargeback fees

• currency conversion fees

• payout or settlement fees

• compliance review fees

All fees are non refundable, including in the event of refunds, reversals, or failed settlements.

5. Authorization to Debit

The Merchant authorizes WalletPlug to:

• deduct fees automatically

• offset fees from settlements

• debit balances to cover chargebacks, refunds, or negative balances

WalletPlug may recover outstanding amounts through any lawful means.

6. Chargebacks and Disputes

The Merchant bears full responsibility for all Chargebacks, disputes, reversals, and associated fees.

WalletPlug may:

• automatically debit disputed amounts

• represent or decline disputes at its discretion

• suspend or terminate accounts exceeding risk thresholds

Failure to provide dispute evidence within required timelines may result in automatic loss.

7. Refunds

Refunds are processed at the Merchant’s discretion subject to WalletPlug approval.

Processing fees are non refundable.

WalletPlug reserves the right to reject or delay refunds where risk, fraud, or compliance concerns exist.

8. Reserves, Holds, and Settlement Delays

WalletPlug may impose:

• rolling reserves

• fixed reserves

• temporary or indefinite payout holds

Reserves may be applied without prior notice where risk is identified.

Settlement timing is not guaranteed and may be delayed due to:

• compliance reviews

• fraud monitoring

• third-party processor actions

  
  

9. 3D Secure and Risk Controls

WalletPlug may require 3D Secure authentication for transactions.

The Merchant agrees to comply with all risk controls implemented by WalletPlug.

Failure to comply may result in transaction blocking or account suspension.

10. Merchant Obligations

The Merchant agrees to:

• operate a lawful business

• deliver goods and services as described

• obtain all required licenses and approvals

• provide accurate transaction descriptors

• respond promptly to information requests

The Merchant must not process prohibited or restricted activities as defined in the Acceptable Use Policy.

11. Prohibited Activities

The Merchant must not use WalletPlug for:

• illegal goods or services

• deceptive or misleading practices

• unauthorized subscriptions or billing

• high-risk activities without written approval

WalletPlug may immediately terminate access upon detection.

12. Suspension and Termination

WalletPlug may suspend or terminate Services immediately where:

• fraud or excessive disputes are detected

• regulatory or compliance risk exists

• information provided is inaccurate or incomplete

Termination does not waive outstanding obligations.

13. Indemnification

The Merchant agrees to indemnify and hold WalletPlug harmless from any claims, losses, fines, penalties, or expenses arising from:

• Merchant transactions

• Chargebacks or disputes

• regulatory violations

• breach of this Agreement

  
  

14. Limitation of Liability

WalletPlug shall not be liable for:

• indirect or consequential losses

• lost profits or revenue

• third-party processor decisions

• declined or reversed transactions

WalletPlug total liability shall not exceed fees paid by the Merchant in the three months preceding the claim.

15. Amendments

WalletPlug may modify this Agreement with notice where required.

Continued use of the Services constitutes acceptance of the updated terms.

16. Governing Law

This Agreement is governed by the laws applicable to WalletPlug place of incorporation, without regard to conflict of law principles.

17. Entire Agreement

This Agreement, together with the Terms of Service and referenced policies, constitutes the entire agreement between WalletPlug and the Merchant.

End of Merchant Services Agreement