PayLoop - High-Risk Merchant Account Provider | Payment Processing Solutions

Acceptance of Terms

Agreement

By accessing or using PayLoop's services, you agree to be bound by these Terms of Service and all applicable laws and regulations. If you do not agree with any part of these terms, you may not use our services.

Eligibility

You must be at least 18 years old and have the legal authority to enter into contracts to use our services. By using PayLoop, you represent and warrant that you meet these requirements.

Modifications

We reserve the right to modify these terms at any time. We will notify you of significant changes via email or through our platform. Continued use after changes constitutes acceptance of the modified terms.

Services Description

Merchant Accounts

PayLoop provides high-risk merchant account services, enabling businesses to accept credit card and electronic payments. We work with banking partners to underwrite and approve merchant applications.

Payment Processing

We facilitate the processing of payment transactions between you and your customers. This includes authorization, settlement, and funding of approved transactions to your designated bank account.

Chargeback Management

Our services include chargeback monitoring, alerts, and management tools to help you reduce disputes and maintain healthy processing ratios. We provide support in responding to chargebacks.

Merchant Obligations

Accurate Information

You agree to provide accurate, complete, and current information during the application process and throughout your relationship with PayLoop. Misrepresentation may result in immediate termination.

Compliance

You must comply with all applicable laws, regulations, and card network rules (Visa, Mastercard, etc.). This includes maintaining proper business licenses and adhering to industry-specific regulations.

Security Standards

You are required to maintain PCI DSS compliance appropriate for your transaction volume. This includes secure handling of cardholder data and implementing required security measures.

Transaction Monitoring

You must actively monitor your transactions for fraudulent activity and take reasonable steps to prevent unauthorized use of your merchant account.

Fees and Payments

Processing Fees

You agree to pay all applicable processing fees as outlined in your merchant agreement. Fees may include per-transaction charges, monthly fees, chargeback fees, and other service-related costs.

Reserve Requirements

PayLoop may require a rolling reserve or holdback of a percentage of your processed volume. Reserve terms will be specified in your merchant agreement and may be adjusted based on your processing history.

Funding

Approved transactions will be funded to your designated bank account according to the funding schedule in your agreement, typically within 2-5 business days, subject to holds for risk management.

Prohibited Activities

Illegal Activities

You may not use PayLoop services for any illegal activity, including but not limited to: money laundering, terrorist financing, fraud, or the sale of illegal goods or services.

Card Network Violations

Activities prohibited by Visa, Mastercard, or other card networks are not permitted. This includes transaction laundering, factoring, and processing for undisclosed third parties.

Prohibited Industries

Certain business types are not eligible for our services despite our high-risk specialization. These include: illegal drugs, weapons trafficking, child exploitation, and other activities that violate law or ethical standards.

Termination

By You

You may terminate your merchant account at any time by providing written notice. You remain responsible for all transactions processed before termination and any applicable early termination fees.

By PayLoop

We may suspend or terminate your account immediately if we detect violations of these terms, excessive chargebacks, suspected fraud, or changes in your risk profile that make continued service untenable.

Effect of Termination

Upon termination, we may hold funds in reserve for up to 180 days to cover potential chargebacks and refunds. Any outstanding fees will be deducted before final settlement.

Limitation of Liability

Disclaimer

PayLoop provides services "as is" without warranties of any kind. We do not guarantee uninterrupted service or that our platform will be error-free. We are not liable for losses due to service interruptions.

Limitation

Our total liability for any claims arising from these terms or your use of our services shall not exceed the total fees paid by you in the twelve months preceding the claim.

Indemnification

You agree to indemnify and hold PayLoop harmless from any claims, damages, or expenses arising from your use of our services, violation of these terms, or infringement of third-party rights.

Dispute Resolution

Governing Law

These terms are governed by the laws of the State of Delaware, without regard to conflict of law provisions. Any disputes shall be resolved in the courts of Delaware.

Arbitration

For disputes exceeding $10,000, either party may elect binding arbitration under the rules of the American Arbitration Association. The arbitration shall take place in Delaware.

Class Action Waiver

You agree to resolve disputes with PayLoop on an individual basis and waive any right to participate in class action lawsuits or class-wide arbitration.

Contact Information

Questions

If you have questions about these Terms of Service, please contact our legal team at legal@payloop.me or through the contact information provided on our website.

Notices

All legal notices should be sent to PayLoop's registered business address. We will send notices to you via email at the address associated with your merchant account.

Terms of Service

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