Terms of service — Pay.

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Facts read from this source

• Entity Report an error

  “Pay.: the private company with limited liability TinTel B.V., having its registered office in Spijkenisse, entered in the Trade Register under number 24283498.”

• Foundation Report an error

  “Foundation: Stichting Derdengelden Pay. is affiliated to Tintel B.V. as a third-party entity and is also supervised by De Nederlandsche Bank. The Foundation is entered in the Trade Register under number 50152769.”

• Segregated funds Report an error

  “The revenue we receive for our clients is held safely on our segregated accounts held separated from Pay. in a foundation (stichting derdengelden). This revenue is frequently paid out to our clients.”

• Initial term Report an error

  “The Agreement takes effect upon its signature and is entered into for the duration of one year (initial term), after which it will be tacitly renewed for an indefinite term unless it is cancelled by one of the parties in accordance with the provisions in this Agreement.”

• Termination notice Report an error

  “Pay. and the Merchant may terminate the Agreement in writing, observing a notice period of three months, after the initial term has elapsed.”

• Pioneer termination Report an error

  “In the case of a Pioneer package, the Parties can terminate the Agreement forthwith (and Pay. with due observance of a notice period of one (1) month), also during the initial term.”

• Availability SLA Report an error

  “Pay. guarantees 99.9% availability of the Payment Platform, with the exception of the availability of third parties including, but not limited to, services of Payment Instrument Suppliers and Payment Networks.”

• Availability discounts Report an error

  “If availability is below 99.9%, the Merchant is entitled to a one-off discount on the monthly package fees, as shown below.”

• Transaction data retention Report an error

  “Pay. will ensure that the Merchants Transaction details can be consulted retrospectively for at least one (1) year via the Payment Platform.”

• Post termination access Report an error

  “In the event of termination of the Agreement, the Merchant will no longer be able to process Transactions and will only retain limited access to the Payment Platform for a period of thirty-five (35) days after termination to retrieve its transaction information.”

• Merchant storage obligation Report an error

  “The Merchant is obliged to keep every storage medium on which data relating to the Transactions are recorded in a secure manner for a period of twenty-four (24) months after the data have become available”

• Pci dss merchant Report an error

  “When accepting credit card Transactions on its own domain the Merchant must be PCIDSS compliant and provide proof of this to Pay.”

• Pci dss pay Report an error

  “Pay. hereby declares to be responsible for the security of the Payment Platform and the secure storage of Transaction details in accordance with (inter alia) the PCI-DSS rules of the Payments Networks.”

• Fair use surcharge exceeded Report an error

  “Pay. is entitled to charge a surcharge of 10.0% on the billed Fees for a specific month for each breach of a specific or multiple Fair Use Policy indicator if the percentage in a certain month falls in the Exceeded category.”

• Fair use surcharge excessive Report an error

  “Pay. is entitled to charge a surcharge of 1.0% on the Volume for a specific month for each breach of a specific or multiple Fair Use Policy indicator if the percentage in a certain month falls in the Excessive category.”

• Currency conversion fee Report an error

  “If a payment is made by the end user in a currency other than the Merchant's settlement currency, Pay. charges an exchange rate fee of €0.03 per payment and 2.75% of the transaction value.”

• VAT exclusive Report an error

  “All Fees stated are exclusive of VAT. Fees are subject to changes in the rate of VAT.”

• Minimum bill Report an error

  “The minimum invoice amount will comprise 75% of the average fees invoiced for the six (6) months preceding the relevant period.”

• Billing cycle Report an error

  “Pay. bills the Fees (not being Transaction Fees) Payable by the Merchant monthly and one (1) month in advance. Transaction Fees are billed weekly or monthly, in agreement with the Merchant.”

• Onboarding fees Report an error

  “Onboarding No costs € 250,- From € 950,-”

• Review fees Report an error

  “Review No costs No costs No costs”

• Event driven review fees Report an error

  “Event Driven Review No costs From € 100,- From € 250,-”

• Risk investigation fees Report an error

  “Risk Investigation case € 100,- From € 100,- From € 250,-”

• Compliance fine per claim Report an error

  “Pay. shall be entitled to suspend its Services in accordance with Article 3.6 and / or demand an immediately due and Payable fine of € 2,500 (in words two thousand five hundred euros) per claim.”

• Admin surcharge on claims Report an error

  “Any claims by Payment Instrument Suppliers and / or Payment Networks will be charged on to the Merchant with the addition of a 15% surcharge to cover administration costs.”

• Liability cap Report an error

  “The total liability of Pay. due to attributable shortcoming in the fulfilment of the Agreement is limited to compensation of the direct damage up to the amount of the stipulated Fees for the six (6) months prior to the incident causing the damage (excluding VAT), with a maximum of € 25,000 (in words: twenty-five thousand euros) for each damage incident.”

• Liability cap annual Report an error

  “Under no circumstances will the total compensation for direct damage amount to more than € 75,000 (in words: seventy-five thousand euros) for each calendar year.”

• Payout speed Report an error

  “Pay. will transfer Payment Instructions and Refunds to the designated receiver of the remittance/Refund within one working day, provided the Merchant’s Book Balance permits this.”

• Rate change notice Report an error

  “Pay. is entitled to revise Fees. A Rate change will be announced to the Merchant no later than thirty (30) days in advance.”

• Deposit hold Report an error

  “The Deposit will be held for up to six (6) months after termination of the Agreement to cover any future Merchant liabilities.”

• Fair use policy thresholds Report an error

  “Chargebacks ratio < 5 of < 0,3% 0,3% to 0,5% 0,5% to 0,75% > 0,75%”

• Merchant audit right Report an error

  “The Merchant has the right, once a year, to appoint an auditor to verify the relevant Pay. administrative records with regard to the Merchant Pay. account and the Book Balance.”

• Acquirer routing Report an error

  “Pay. is free to route transactions to the various acquirers according to its own insights.”

• Foundation account license Report an error

  “The Foundation receives the Payments for which authorisation has been granted on a third party account that is exclusively intended for receiving, the temporary management of and the Payment of funds from authorised Transactions related to the Services, which account is held at a credit institution with a license under the Dutch Financial Supervision Act (Wft).”

• Change agreement notice Report an error

  “Pay. is entitled to change the Agreement. A change will be announced to the Merchant no later than thirty (30) days in advance.”

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• The Payments Engineer European sovereignty
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• The Finance Lead Checkout, SCA & fraud
• The Finance Lead Subscriptions & recurring payments
• The Finance Lead Settlement, reconciliation & API
• The Finance Lead Licence, risk & account terms
• The Finance Lead European sovereignty
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• The Skeptic Checkout, SCA & fraud
• The Skeptic Subscriptions & recurring payments
• The Skeptic Settlement, reconciliation & API
• The Skeptic Licence, risk & account terms
• The Skeptic European sovereignty
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• The SaaS Founder Checkout, SCA & fraud
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• The SaaS Founder Settlement, reconciliation & API
• The SaaS Founder Licence, risk & account terms
• The SaaS Founder European sovereignty
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