Merchant Policy

This Merchant Policy is an integral part of Paywint’s Terms and Conditions and governs the services provided to businesses (hereafter referred to as “Merchants”) that utilize Paywint’s payment platform. By registering as a merchant and using Paywint’s services, you agree to comply with the terms outlined below. This policy establishes clear guidelines to ensure a smooth and secure payment experience for all parties involved.

Overview of Merchant Services

Merchants are business entities or individuals who register with Paywint to utilize its payment platform for managing transactions. By creating a merchant account, you gain access to several features that enhance financial interactions with payors, vendors, and other stakeholders. These features include:

  • Instant Payment Processing: Transactions are processed instantly for seamless business operations.
  • Paywint My Store: A built-in eCommerce feature allowing merchants to list products for direct purchase.
  • Advanced Security Measures: Fraud detection, encryption, and multi-layer authentication.
  • Detailed Transaction Reports: Insights into transaction trends and payment analytics.

Transaction Fees for Merchants

To maintain high-quality services, merchants are required to pay a nominal fee for each transaction:

  • A fee will be charged on the total funds collected from payors.
  • This fee is deducted automatically before the amount is credited to the Paywint wallet.
  • Fees are non-refundable, including in cases of disputes or chargebacks.
  • Usage-based dynamic fee adjustments are implemented based on:

    • Transaction volume
    • Payment frequency
    • Number of successful and failed transactions
    • Disputes and chargebacks
  • Merchants with higher transaction volumes benefit from lower fees, while lower volumes may incur comparatively higher fees.

Merchant Responsibilities and Dispute Liability

Merchants using Paywint’s platform must take full responsibility for their transactions and interactions with payors or vendors.

Prohibited Transactions:

  • Payments from restricted countries or industries, as defined by laws and Paywint policies, are prohibited.
  • Paywint bears no responsibility for legal complications arising from such transactions.
  • Merchants must ensure compliance with all transaction restrictions.

Legal Disclaimer:

  • Paywint is not a bank or an FDIC-insured institution.
  • It acts as a payment gateway using third-party services for transaction processing.
  • Paywint is not liable for legal issues related to improper platform usage.

Third-Party Agreements:

  • By using Paywint, merchants agree to the terms and conditions of Paywint’s third-party service providers.

Handling Disputes:

  • Paywint reserves the right to deduct disputed amounts from the merchant’s wallet balance until resolution.
  • If the wallet balance is insufficient, merchants must fund the account to cover disputes.
  • Failure to comply may result in account suspension.

    Compliance with Laws and Regulations

    Merchants must comply with all applicable local, state, and federal laws governing their business activities and transactions processed through Paywint.

    • Non-compliance may lead to account suspension, termination, or other necessary actions.
    • Merchants should regularly review their practices to ensure legal compliance.

      Termination of Merchant Accounts

      Paywint reserves the right to terminate merchant accounts under the following circumstances:

      • Violations of this Merchant Policy or Paywint’s Terms and Conditions.
      • Engagement in fraudulent, deceptive, or illegal activities.
      • Repeated disputes or failure to resolve disputes in a timely manner.

      In case of account termination:

      • Funds in the merchant’s Paywint wallet may be withheld until outstanding disputes are resolved.
      • Paywint will notify the merchant of termination details and next steps.

      Policy Updates and Amendments

      Paywint reserves the right to update or amend this Merchant Policy at any time to ensure its relevance and effectiveness.

      • Significant updates will be communicated via email or platform notifications.
      • Continued use of Paywint services after updates constitutes acceptance of the revised policy.
      • Merchants are encouraged to review this policy periodically for any changes.

      This Merchant Policy ensures fair and responsible use of Paywint’s services. For any questions or clarifications, please contact our support team at support@paywint.com.