Effective October 25, 2019
Thanks for using CaresPAY.
Please read these Terms carefully. By using CaresPAY Services, you’re agreeing to these Terms, which will result in a legal agreement between you and CaresPAY (hereinafter “The Agreement”). We’ll start with the basics, including a few definitions that should help you understand these Terms. CaresPAY (“CaresPAY,” “we,” or “us”) provides merchant accounts for online payment processing solutions over the Internet.
1.1 online payment processing
CaresPAY performs the actual processing of a payment – a credit card, separate from the merchant account or acquiring bank which merely acts as the recipient of the transaction proceeds.
A retailer, company or corporation that accepts credit cards as payment from CaresPAY.
1.3 Merchant Account
A type of bank account used to receive the proceeds of credit card transactions. The merchant’s bank is responsible for taking payment from the consumer and depositing them into the merchant account.
A chargeback is a demand by the credit card provider for a retailer to make good on the loss in a disputed or fraudulent credit card transaction. Successful chargeback by consumers results in chargeback fees assessed to the merchant.
Refund is any payment from your customer that is reversed by CaresPAY or Merchant.
ii. Obligations of CaresPAY
2.1 CaresPAY is payment service provider. CaresPAY undertakes for the Merchant, in Internet payment transaction, the collection through credit card, of Merchant’s claims from their Customers, and is instructed to make all statements and decla¬rations for the Merchant necessary hereto. CaresPAY enables you to make payments to and accept payments from third parties. CaresPAY is an independent contractor for all purposes will act in their own name. The payment by credit cards charges will be accepted online and completely processed for the Merchant. The data will be digitally signed by an asymmetric key and verified by the server with a Public Key infrastructure owned by CaresPAY. The integration is made with a simple interface. CaresPAY and related services (the "Service") act as payment gateway between Merchant's Internet web site and the banking network, the Merchant's payment page is located on CaresPAY secure servers. As part of the Service CaresPAY also provides the Merchant with access to a management interface which allows the Merchant to track sales and make certain administrative changes to its account(s) on-line.
2.3 CaresPAY provides customer services. If you have any question, you can contact us at email@example.com or with your account expertise.
iii. Obligations of Merchants and restricted activities
3.1 Merchant undertakes to make available to CaresPAY, all data required to prepare the interface.
3.2 The Merchant undertakes to store all documents and data in connection with the data settings as provided by law, procure back-up copies of the data and keep them secure & separate from the data on the web server in order to enable a reconstruction in the case of a loss of data. CaresPAY has in principal the right to inspect these data.
3.3 Merchant agrees to establish and maintain a fair and uniform policy for the exchange and return of products or services sold. All disputes involving the goods or services purchased via CaresPAY will be settled between the Merchant and the customer. Upon request, Merchant shall provide any information, evidence, assignments or other assistance CaresPAY may need to help resolve any customer billing disputes regarding the nature, quality or performance of the goods or services, or in connection with any return or rejections of such goods and services. Merchant agrees to indemnify and hold CaresPAY harmless from any claim or liability relating to any such dispute.
3.4 In connection with your use of our website, your merchant account, or in the course of your interactions with CaresPAY, you will not:
3.5 Breach this Agreement or any other agreement that you have entered into with CaresPAY;
3.6 Breach any law, statute, contract, or regulation (including, without limitation, those governing financial services including anti-money laundering, consumer protections, unfair competition, anti-discrimination and false advertising);
3.7 Use your Account or the Services in a manner that CaresPAY, Visa, MasterCard, American Express or our bank acquirer and/or payment processors reasonably believe to be an abuse of the bank’s reversal process, credit card system or a violation of credit card association rules;
3.8 Allow your Account to have a balance reflecting an amount owing to us;
3.9 Facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or Information;
3.10 Take any action that may cause us to lose any of the services from our internet service providers, payment processors, or other suppliers;
3.11 Allow your use of the Service to present to CaresPAY a risk of non-compliance with CaresPAY’s anti-money laundering, counter terrorist financing and similar regulatory obligations.
iv. Actions by CaresPAY
4.1 If we have reason to believe that you have engaged in any Restricted Activities, we may take various actions to protect CaresPAY, the Merchant, a third party, from Reversals, Chargebacks, claims, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following:
4.11 We may, at any time and without liability, suspend, block, limit, close or cancel your right to use your Payment Instrument or Account entirely or for any particular transaction, which may in turn suspend, block, limit, close or cancel access to your Account or the Services (such as limiting access to any of your Funding Sources, make withdrawals, or remove financial Information). We will normally give you advance notice of any suspension or cancellation but we may, if it is reasonable to do so (for example if you are in breach of this Agreement or we consider it advisable for security reasons), suspend or cancel your right to use your Payment Instrument or Account without prior notice to you;
4.12 We may refuse any particular payment transaction at any time for any reason and will only be required to make available the fact of the refusal and the reasons for the refusal and how you may resolve the problem, where possible, upon request and provided it is not prohibited by law;
4.13 We may reverse a transaction, that violates this Agreement or which we reasonably suspect of violating this Agreement;
4.14 We may refuse to provide our Services to you in the future;
4.15 We may hold your funds to the extent and for so long as reasonably needed to protect against the risk of liability.
4.2 CaresPAY will release the hold made on your payout under this provision when CaresPAY determines that the Transaction Risk; or risk or exposure associated with your Account, no longer exists. Please note that, notwithstanding the above, if you receive a Dispute, Claim, Chargeback, or Reversal on the transaction payment subject to the hold, the funds (or an amount equal to the relevant payment) may be held in your Reserve Account until the matter is resolved pursuant to this Agreement.
4.3 You agree to provide to CaresPAY any information as CaresPAY may reasonably request to allow CaresPAY to determine whether the transaction risk or risk or exposure to your Account has passed. You may close your Account if you object to the hold under this provision. If your Account is closed for any reason, CaresPAY has the right to hold a payment under this provision for a period of up to 180 days from the date the complete obligations under the contract for sale (to which the payment in question relates) have been discharged.
v. Transaction information
CaresPAY shall provide you with Merchant Panel with which you can see and manage online and virtual terminal credit card transactions. You can also check fees incurred and any other amounts charged to your Account in the relevant period.
CaresPAY shall offer you a further contact including all the service fees.
vii. Termination and suspension
7.1 The term of this Agreement is for a period of time when you successfully register for a CaresPAY account until this Agreement is terminated for whatever reason.
7.2 Upon Account closure, we will cancel any future transactions and you will forfeit any Refunds, Chargebacks, Claims, fees, fines, penalties and other liabilities of whatever nature. We will hold your funds for up to 180 Days to protect CaresPAY or a third party against the risks listed behind.
7.3 CaresPAY may terminate this Agreement, seize any incoming funds and disconnect Merchant’s program immediately if the Merchant fails to pay any charge when due; the Merchant significantly changes the scope or focus of the program/application; Merchant’s insolvency, bankruptcy, receivership, or dissolution; actual or attempted assignment of the Agreement or any of the duties under this Agreement to another party; breaches any part of this Agreement or any of the duties under this Agreement to another party; the Merchant is or was using CaresPAY services for questionable or illegal activity; or if the sum of the chargebacks or return debit notes exceeds the rate that CaresPAY requires of the gross turnover (volume of submission to the bank).
8.1 Neither party shall be responsible for delays or failures in performance resulting from acts beyond its control, such as acts of God, acts of war, computer viruses, epidemics, power outages, fire, earthquakes and other unforeseen disasters.
8.2 It is agreed that all claims arising out of this contract will be subject to Hongkong law.