Terms & Conditions for Payment Processing Services

1.1
VortexPay

VortexPay facilitates online payments from customers to your business website. We offer local payment methods across multiple countries. Any activation of new payment methods on your website requires prior approval from VortexPay. VortexPay acts as an independent contractor and not as your agent or trustee. Our payment methods are intended solely for the commercialization of products or services.

1.2
Assignment

The rights and obligations under this Agreement apply specifically to the products and services approved for commercialization on websites authorized by VortexPay. You may not transfer, assign, or resell any rights or obligations without prior written consent from VortexPay. VortexPay reserves the right to transfer this Agreement to another company within its group.

1.3
Contact Information

Technical support is available 7 days a week via email ([email protected]) and by phone (+) from 9am to 7pm (EST-time), Monday to Friday. Official notifications to us must be sent to [email protected] and are deemed valid upon receipt confirmation.

2.1
Eligibility

2.2
Identity Authentication

You authorize VortexPay to validate your identity through inquiries as necessary under local laws. This includes requesting additional information, verifying identities, and conducting credit checks or using third-party databases. Failure to provide required information within 72 hours may result in account suspension.

2.3
Customer Monthly Minimum

Transactions per Customer ID are subject to a Monthly Minimum of USD 25,000.00.

3.2
Fraud Prevention Mechanisms

You must maintain policies to prevent abuse, utilizing security measures such as SSL protection and following VortexPay API instructions. Notify VortexPay immediately of any suspicious transactions.

3.3
Antifraud Screening

Transactions are screened by VortexPay’s antifraud systems to minimize risks, though complete prevention cannot be guaranteed.

3.4
Restricted Activities

Engaging in activities listed on VortexPay’s compliance website is prohibited.

3.5
Security

Ensure compliance with laws and regulations in marketing and using VortexPay Payment Methods, restricting use to individuals aged 16 or older. Promptly provide requested Customer identity information upon request.

3.6
Business Operation Permissions

You are responsible for marketing and using VortexPay Payment Methods in compliance with policies and regulations.

3.7
Password Security and Keeping Your Email and Address Updated

Maintain security over IDs, passwords, and personal information used for accessing VortexPay Services. Ensure all information shared with VortexPay is accurate and up-to-date.

3.8
Payment Processing Transaction and Electronic Transmissions

Authorize electronic transmission for Transaction processing and Settlement, ensuring reliable network communication and assuming responsibility for associated telecommunication costs.

3.9
Duty of Information

Notify monthly volume per each product/service.

3.10
Your Refund Policy and Privacy Policy

Maintain published return and privacy policies complying with data protection laws.

3.11
Your Business

Notify VortexPay of any changes in product/services being processed through our platform.

3.12
Anti-Money Laundering (AML) and Know Your Customer (KYC) Compliance

All users must comply with Vortex Pay’s AML and KYC policies. Users are required to provide accurate and complete information and documentation for verification purposes. Failure to comply may result in suspension or termination of services.

3.13
Prohibited Activities

Users are prohibited from engaging in illegal activities, including but not limited to, money laundering, and fraud. Any violation of this clause will result in immediate termination of services.

4.1
Permission to Perform Payment Processing Services

VortexPay holds all necessary permits, permissions, and licenses to provide Payment Methods.

4.2
Assignment

VortexPay reserves the right to transfer rights or obligations under this Agreement within the VortexPay Group.

5.1
Chargeback Policy

Users are responsible for maintaining adequate documentation to defend against chargebacks. Vortex Pay reserves the right to withhold funds to cover potential chargebacks. Users must respond to chargeback disputes within the specified timeframe.

5.2
Transaction Monitoring

Vortex Pay will monitor transactions to detect suspicious activities. Users consent to this monitoring and agree to cooperate with any investigations.

5.3
Taxes

VortexPay is not responsible for paying taxes, all merchants are responsible to pay duly taxes.

5.4
VortexPay’s Responsibility to Withhold or Collect Taxes

VortexPay collects certain taxes mandated by local law during Transactions.

5.5
Notice

VortexPay will inform you promptly of any new legislation affecting Services.

5.6
Management Reports

Access reports and Transaction data 24/7, treated as Confidential Information.

6.1
Reserve

VortexPay may place a Reserve on funds in your Business Account based on risk assessment. This will be previously approved in the service contract. We operate on a 30/70 basis for 72hrs, meaning we transfer 70% of funds via crypto every 72hrs and retain the 30% of the funds received that day until we reach $1M.

6.2
Fixed Reserve

VortexPay may apply a fixed Reserve for the initial 180 days of payment processing.

7.1
Payment Processing Fee

Authorize deduction of Service Fees from Settlements as per Pricing in service agreement.

7.3
Refund Fee

Refund Fees apply per Refund processed.

8.1
Availability of Funds

Transactions via VortexPay Payment Methods are available for settlement 4 days after payment confirmation.

8.2
Bank Account Information

You must provide your bank account information on your Dashboard, matching the account approved during onboarding. Incorrect information may prevent settlements.

8.3
Ownership of Bank Account

Your bank account must be owned by the entity in this Agreement.

8.4
Settlement Currency and Frequency

Settlements are made via bank wire transfer in USD or EUR or via Crypto wallet transfer. Indicate your preferred settlement frequency to VortexPay, or settlements may default to USD or USDT.

8.5
Settlement Requests

We will confirm receipt of your settlement request within 1 business day and complete the settlement within 4 days. VortexPay is not responsible for delays caused by your bank.

9.1
General Liability

You are responsible for refunds, chargebacks, claims, fees, fines, and other liabilities arising from your breach of this Agreement or your use of VortexPay Services. We may withhold funds from your balance for reimbursement.

9.2
Refunds

Cooperate with VortexPay for any issues affecting payment methods. Refunds must be requested within 90 days of the transaction.

9.3
Customer Complaints

You are solely responsible for resolving customer service issues. VortexPay will refer customer complaints to you and cooperate with you in resolving them, responding within 2 business days. VortexPay will not interfere in disputes except to confirm payment instructions.

9.4
Payments on Demand

VortexPay Payment Methods are for product or service sales only. You are responsible for compliance with applicable laws and our policies. Using payment methods for illegal purposes may result in termination and legal action.

9.5
Reimbursement for Liability

If your balance is insufficient, you must immediately add funds to cover the negative balance, or we may engage in collection efforts.

9.6
Restricted Activities Liability

VortexPay may take action to protect against reversals, chargebacks, claims, fees, fines, and other liabilities. Selling prohibited products can result in immediate termination and reimbursement responsibilities.

9.7
Account Closure and Limited Access

VortexPay may close your account or limit access based on confidential criteria related to risk management and security. We will notify you of our actions, but are not obliged to disclose the criteria used.

10.1
Exclusivity

VortexPay will be your exclusive service provider for online payment processing, handling at least 80% of your transactions. Seeking similar services from others requires prior approval.

10.2
Equality of Conditions

Products and services sold using VortexPay Payment Methods must be offered at the same price and conditions as other payment methods.

10.3
Intellectual Property

VortexPay trademarks and logos must be used according to our guidelines.

10.4
Permission to Use Copyrighted Material

You grant VortexPay the right to use your logo and name for promotional purposes.

10.5
Customer Data Usage

Customer data may be used for marketing purposes, and you must include a privacy policy clause allowing this.

10.6
VortexPay Pixel

This tool tracks customer activities for marketing. Data must remain anonymous and its usage is regulated by VortexPay.

10.7
Data Protection

VortexPay complies with data protection laws and uses personal data according to our Privacy Policy. Notify each other immediately of any security breaches.

10.8
Limitations of Liability

VortexPay is not liable for various potential losses, including service interruptions, third-party actions, or unauthorized access.

10.9
Indemnification

You will indemnify VortexPay for any claims or damages arising from your breach of this Agreement or improper use of services.

10.10
Force Majeure

If uncontrollable events prevent us from performing our obligations, we will notify you and seek a resolution.

10.11
Data Security and Privacy

Vortex Pay is committed to protecting the confidentiality and security of user data. Measures include encryption, secure data storage, and compliance with applicable data protection regulations (e.g., GDPR, CCPA). Users are responsible for maintaining the security of their systems.

10.12
Limitation of Liability

Vortex Pay shall not be liable for any indirect, consequential, or punitive damages arising from the use of its services. Users agree to indemnify and hold Vortex Pay harmless from any claims resulting from their activities, including but not limited to violations of gambling regulations.

10.13
No Waiver

Failure to act on a breach does not waive our right to address future breaches.

10.14
Amendment

Changes to the Agreement require written approval. VortexPay may revise terms electronically or on our website. Continued use implies acceptance.

10.15
Signing Authority

Signatories must have legal authority to bind their respective parties.

10.16
Contractual Coalition

New services offered by VortexPay may involve additional agreements and conditions.

11.1
Agreement Duration

The Agreement starts on the specified date and lasts for 3 years, unless terminated with 60 days’ notice or due to breach of terms.

11.2
Non-Compliance

VortexPay reserves the right to suspend or terminate the provision of the Services at any time and for any reason, including non-compliance with the VortexPay T&C, detection of fraudulent or suspicious activities, and legal or regulatory requirements.

11.3
Regulatory Demands

A one-time email will be sent in case of a regulatory issue. Closure of accounts will occur 24 hours after.

11.4
Termination

Vortex Pay reserves the right to terminate or suspend services for any user engaging in prohibited activities, failing to comply with AML/KYC requirements, or violating these Terms. Users will be given notice of such actions and may appeal suspensions as per the provided procedures.

11.5
Amendment

VortexPay may amend these T&C at any time by publishing the updated terms on its website. The continued use of the Services after the amendments constitutes acceptance of the new T&C.

12.1
Disputes with VortexPay

Attempt to resolve disputes informally by contacting us.

12.2
Governing Law

The laws of The United Kingdom govern these Terms. Any disputes arising from these Terms shall be resolved through arbitration in [Jurisdiction] unless otherwise specified.

Fee Details

Request the VortexPay Fee Chart for specific fees and charges.