Terms and Conditions
This Service Agreement for GSPAY Processing Solutions is made by and between
GSPAY LIMITED ("GSPAY") and you (the "Merchant").
In consideration of the mutual covenants herein contained and intending to be
legally bound by the provisions of this Agreement, the parties agree as follows:
1. Description of Services
1. GSPAY and
related services (the "Service") act as an intermediary between Merchant's
Internet web site and the banking network, the Merchant's payment page is
located on GSPAY secure servers. As part of the Service GSPAY also
provides the Merchant with access to a management interface which allows the
Merchant to track sales and make certain administrative changes to its
2. We do not provide any type of Customer user
support or technical support concerning your Merchandise or Services. Our
Customer support is limited to assisting potential Customers in the use of
the GSPAY Site and its shopping cart to make purchases of Merchandise or
Services, providing information concerning the status of your fulfillment
of Orders, and assisting Customers regarding refunds, returns and billing
questions. We will refer any other type of support inquiries from
Customers or prospective Customers to you, and you agree to provide
reasonable Customer support for such inquiries.
The following terms are defined for use in this Agreement:
"Agreement" means this GSPAY Processing Solutions Agreement and all
exhibits and attachments hereto.
"Authorized Agent" means an individual authorized by Merchant to act as the
legal representative of the Merchant for all matters pertaining to this Agreement.
"Bank" means a member bank of Visa and MasterCard, or any other credit
card company with which the Merchant has entered a separate agreement to receive
an Internet merchant account.
"Merchant" means the entity that accepts these terms and conditions.
"Customer" means any person desiring to purchasing goods or services from
"Fraud Scrub" is an additional service made available by GSPAY whereby
Merchant's transactions are evaluated prior to an authorization to determine if
the transaction is potentially fraudulent or at risk for non-payment.
"GSPAY" means GSPAY Limited.
"Merchant Agreement" means the agreement executed between Bank and
"Processing Solutions" means GSPAY integrated payment processing service
and all other related services.
3. Service Fees
GSPAY's pricing model is unique and rates are determined by individual
negotiation based on business profile (e.g. business type, processing volume and demographics). The
tables below are an example for some of our rates:
Transaction Fee. GSPAY will charge a per transaction fee at a rate of
USD $0,50-$1,00 depending on bank acquirer for credit card transaction services.
Refund Fee. GSPAY will charge a per refund fee at a rate of USD
$0,50-$1,00 depending on bank acquirer.
Chargeback Fee. A fee of USD $35.00 will be charged to the Merchant for every
transaction which we process on the Merchants behalf which is "charged-back" by
Wire transfer Fee. GSPAY will charge a fee of USD$40.00 per wire transfer to a
Holdbacks are 10% of monies
earned by Merchant which are held back for a period of six months. After
six months the monies will be paid to Merchant on the next calendar month. Holdbacks are required to protect against fraud and charge-backs. GSPAY is
in no way responsible for any losses you sustain, including claims for lost income or profits,
on account of the imposition of Reserves for any reason.
We will issue payment to you
based on your Payout information that you provide in our Merchant
Control Panel. We reserve the right to charge any fees deductions against
the holdback. We have two weeks delay before first payment for new GSPAY
merchants since first successful transaction made. GSPAY make following
payouts weekly. We send payments directly to your bank account via Wire
Transfer, also called Tele-Transfer in some countries. Any applicable fees
for this payment are specified in the Products and Servicess. Your bank
may also directly collect additional fees to receive the payment, and you
will be solely responsible for any such fees.
6. Compensation, Accounting
following compensation for the services rendered by GSPAY is agreed upon.
a. GSPAY will charge for each individual transaction a processing fee. The individual processing fee will be listed in your
b. For each payment operation Merchant will be charged a certain per transaction fee. The individual amount is seen
in your GSPAY account.
c. For each chargeback the Merchant will be charged 35 USD for chargeback transactions.
d. The Merchant has to pay all the bank charges arising with the execution of this mandate, in particular the fees for returns/ return debit notes and objections, costs for bank transfers to
and from abroad or a foreign currency account and all possible contractual penalties which may be charged to GSPAY for an excess of the rate for chargebacks, the origin of which lies with the Merchant customers.
The amount of penalty is 100 USD per chargeback if the number of chargebacks exceeds 2% of the gross turnover per month.
e. Merchant is responsible for any penalty GSPAY which was initiated by acquiring bank and/or VISA/MASTERCARD if the origin of which lies to Merchant's transactions as payment method for following content which:
-is unlawful or violates any applicable local, state, federal, national or international law;
-is associated with any form of adult, sexually oriented, or obscene materials or services, including without limitation, any material clearly designed to sexually arouse the viewer/reader (e.g., books, text, photos, videos, X-rated movies, pornographic materials, etc.);
-infringes on any patent, trademark, trade secret, copyright, intellectual property, or other proprietary right of any party, including, but not limited to, the unauthorized copying and posting of trademarks, pictures, logos, software, articles, musical works and videos;
-contains harmful content, including, without limitation, software viruses, Trojan horses, worms, time bombs, cancel bots, spy-ware, or any other files, software programs, or technology that is designed or intended to disrupt, damage, surreptitiously intercept or expropriate the Services or any system;
-is associated with the sale of (a) any controlled drug
that requires a prescription from a licensed practitioner unless you are authorized by the National Association of Boards of Pharmacy to offer such products as a Verified Internet
Pharmacy Practice Site and only if such a prescription has been issued by the practitioner after a bona fide examination of the patient.
-In cases of controlled substance is found on registered or non-registered website, website was used for illegal transaction processing, GSPAY reserves the right to apply a penalty of 35 000.00 USD (Thirty fve thousand US dollars) per each URL.
-In case GSPAY is penalized by VISA/MASTERCARD EPI and/or Bank, GSPAY reserves the right to apply an extra penalty fee to the merchant in amount of 35 000.00 USD (Thirty fve thousand US dollars). Merchant holds full financial responsibility to all and any claims represented by VISA or EPI or the partner bank.
-In case of processing of unregistered Internet shop - site, the 35 000.00 USD (Thirty five thousand US dollars) penalty is applied for every unregistered site.
2. The minimum amount to be remitted is
2,000 USD. If Merchant turnover is less than this amount, they will be
collected and remitted to Merchant, after deduction of the above-mentioned
costs, when the minimum turnover has been reached.
The number of chargebacks is, in this agreement, limited to 2% of the gross turnover (volume of submission to the bank).
will unilaterally freeze (hold) unpaid balance for 2 months under if the risk for chargebacks is unusually high;
if the Merchant stop accepting and processing (provide access to services/merchandise shipment) orders or number of chargebacks
has increased, compared with the preceding month, for 2,5%; GSPAY may increase
the holdback for the sum of the chargebacks for three last processing months.
5. Should return charges or return debit notes of payments occur, or should the objection by Merchant
Customer(s) be received and GSPAY thereby be directly charged, GSPAY may set-off payments already remitted with
payments to be remitted in the future or demand repayment from Merchant. All damages and costs occurring in connection
with non-collectible claims return charges or return, debit notes will be paid by Merchant.
6. The Merchant's minimum turnover per month should be not less then $10,000 USD (or 100 successful transactions).
7. Merchant's Obligation
1. You do not offer for sale any product which falls within the list of
prohibited products available at the following URL: Prohibited Products
which may not be sold
through the GSPAY Site. The list of Prohibited Products available through the above hyperlink is incorporated by reference into this Agreement. GSPAY may update the Prohibited Products list at any time and at its sole discretion.
2. Customers must place orders themselves through the
GSPAY Site. You will not place orders on behalf of Customers, nor allow
anyone to place orders on a Customer's behalf.
3. Merchant agrees
that it will comply at all times with all applicable federal,
state/provincial, or local laws, rules and regulations including any
applicable card association or Automated Clearing House rules. Merchant is
fully responsible for the content and promotion of its Web site.
Merchant further agrees that it will not use GSPAY Processing Solutions for
sale, promotion, or engagement in illegal activities including, but not
limited to, spam, pyramid schemes, check-cashing services, collection
agencies, child pornography, bestiality, gambling, and lotteries. Merchant
agrees that it will not use the service to sell airline tickets or any
other travel-related goods or services.
5. Merchant represents and
warrants to GSPAY that it is the owner and/or that it has full right and
authority to use and disseminate all information, data, graphics, text,
video, music or other intellectual property which either forms a part of
its Web site, which is provided by Merchant to Customers, or which is used
by Merchant in its advertising or promotion. Merchant is solely responsible
for maintaining the confidentiality of its password(s) and account(s).
Merchant is responsible for any and all activities that occur under Merchant's
6. For merchants selling tengible goods, upon receipt of
purchase order, you agree to fulfill Customer's order by promptly
delivering the ordered Merchandise to the Customer. You must use a common
carrier such as the United States Postal Service, United Parcel Service,
Federal Express, UPS or Registered mail etc., shipping charges prepaid,
with instructions to deliver the Merchandise to the Customer. As our
Merchant, you have all risk of loss during the shipment of Merchandise
until it is delivered to the Customer. You are responsible for purchasing
and paying for any insurance you deem necessary to protect your interests
while the Merchandise is in transit to the Customer. You are responsible
for ensuring that each shipment of Merchandise is accurately addressed to
the Customer address disclosed to you in the Purchase Order. You are
responsible for complying with all applicable shipping laws and
regulations necessary to ensure prompt delivery of the Merchandise to the
Customer, including the declaration of accurate values and descriptions
necessary for applicable customs regulations, and the payment of any
necessary duties or the like. If you choose to deviate from these shipping
standards, doing so is at your risk.
7. While GSPAY make reasonable
efforts to avoid Chargebacks we reserve the right to request from new and
current Merchants accurate information concerning your fulfillment of our
Customer's order. You should provide us any proofs of shipment (Tracking
numbers, copies of receipt) by request of GSPAY on email or fax.
GSPAY reserves the right to process a refund for any order which it, at
its sole discretion, is believed to be of a fraudulent nature, transacted
in a manner inconsistent with the terms and conditions of this Agreement,
or is in violation of any other statute or law.
9. If a shipment of
Merchandise or Services is not safely delivered intact to the Customer
within 20 days, or if we receive word from a Customer that the Merchandise
was damaged upon arrival and was either not accepted or was accepted from
the shipping carrier and later determined to be damaged, or Services not
provided in full, we will promptly forward any information concerning such
incident to you via e-mail. You agree to promptly resolve the concern,
either by authorizing a Refund for the transaction or by reshipping (at no
additional cost to GSPAY or the Customer) new Merchandise in place of the
lost or damaged Merchandise. You must bear all costs to return any damaged
Merchandise back to you. You may choose to purchase (at your cost)
adequate shipping insurance to cover your potential losses arising out of
shipping Merchandise, as we will not be responsible for reimbursing you
for any of these losses. If you fail to adequately respond to our
forwarding of the inquiry or complaint concerning a lost or damaged
shipment by the end of three full business days that passes after we have
sent the inquiry e-mail to you (either by reshipping, communicating your
intention to reship within 5 business days of the inquiry being sent to
you, or by authorizing a Refund), then GSPAY may unilaterally make a
Refund to the Customer as described below.
"Spam" generally involves the sending of unsolicited commercial e-mail and
includes, but is not limited to, telemarketing. The use of Spam to promote a
site receiving service hereunder is prohibited. Upon receipt of a verifiable
complaint that Spam has been generated on behalf of a site receiving Service
hereunder, GSPAY reserves the right to suspend the Merchant's account.
9. Merchant Information
Merchant is responsible for providing information which is timely, complete,
truthful, and not misleading. Merchant must provide a valid, working e-mail
address on enrollment. Merchant will notify GSPAY of any changes of ownership,
regulatory actions or financial conditions that could materially affect GSPAY'
rights under this Agreement.
Each party represents and warrants that it has the legal capacity and authority
to enter into and perform its obligations under this Agreement and that those
obligations shall be binding without the approval of any other person or entity.
Each person signing this Agreement on behalf of a party represents and warrants
that they have the legal capacity and authority to sign this Agreement on behalf
of that party.
11. Fraud Scrub Service
The Fraud Scrub service is provided as a mandatory service. Acceptance or denial
of transactions remains solely the discretion of GSPAY. GSPAY will not be
responsible for any failed transactions or any losses from any transactions that
result from this service.
GSPAY Credit Card Processing Services and all information and documentation
relating thereto, including the terms and conditions and prices of fees
associated with this Agreement, shall be held in confidence by Merchant and may
not be used by Merchant (other than for the furtherance of the purposes of the
Agreement) nor disclosed to third parties without GSPAY prior written consent.
Notwithstanding anything in this Agreement to the contrary, either party may
disclose to third parties the fact that Merchant is using GSPAY' services. Merchant
recognizes that the services and documentation thereof contain the valuable,
confidential and trade secret information of GSPAY.
In consideration for payment of any applicable fees, Merchant is granted a
personal, non-exclusive, non-transferable license to use software and related
documentation provided by GSPAY to Merchant in connection with the Service (the
"Software"), in object code form only, solely in connection with the Service
(the "License"). Merchant shall not: (i) attempt to reverse engineer, decompile,
disassemble or otherwise translate or modify the Software in any manner; or (ii)
sell, assign, license, sublicense or otherwise transfer, transmit or convey
Software, or any copies or modifications thereof, or any interest therein, to
any third party. All rights in the Software, including without limitation any
patents, copyrights and any other intellectual property rights therein, shall
remain the exclusive property of GSPAY and/or its licensors. Merchant agrees that
the Software is the proprietary and confidential information of GSPAY and/or its
licensors subject to the provisions of Section 11 ("Confidentiality") above. The
License shall immediately terminate upon the earlier of: (i) termination or
expiration of this Agreement; (ii) termination of the Service(s) with which the
Software is intended for use; or (iii) failure of Merchant to comply with any
provisions of this Section.
The Merchant is fully responsible for and agrees to pay all taxes and other
charges imposed by any government authority on the services provided under this
Agreement and on any transactions processed pursuant to this Agreement.
15. Limitations of Liability
GSPAY ASSUMES NO LIABILITY FOR DISRUPTIONS OF THE GSPAY SERVICE, INCLUDING, BUT
NOT LIMITED TO, VANDALISM, THEFT, PHONE SERVICE OUTAGES, INTERNET DISRUPTIONS,
EXTREME OR SEVERE WEATHER CONDITIONS OR ANY OTHER CAUSES IN THE NATURE OF "ACTS
OF GOD" OR FORCE MAJEURE. GSPAY SHALL NOT BE RESPONSIBLE FOR ANY SPECIAL,
INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES INCLUDING ANY LOSS OF PROFIT,
REVENUE, SOFTWARE OR DATA, EVEN IF GSPAY IS ADVISED OF THE POSSIBLITY OF SUCH
DAMAGES. IN ANY OTHER CASE(S), Merchant AGREES THAT IT SHALL NOT BE ENTITLED TO
RECOVER DAMAGES FROM GSPAY WHICH EXCEED THE SUM OF THE SERVICE FEES PAID TO
GSPAY UNDER THIS AGREEMENT FOR THE ONE MONTH PRIOR TO THE EVENT GIVING RISE TO
THE CLAIM FOR DAMAGES.
16. Disclaimer of Warranties
EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT, GSPAY MAKES NO WARRANTIES,
EXPRESS OR IMPLIED, AS TO ANY GSPAY SERVICES, RELATED PRODUCTS, SOFTWARE OR
DOCUMENTATION. GSPAY SPECIFICALLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES,
INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE.
Merchant agrees to indemnify and hold harmless GSPAY, its employees, officers,
agents, and directors from any and all fines, penalties, losses, claims,
expenses (including attorney fees and allocable costs of in-house counsel), or
other liabilities resulting from or in connection with this Agreement. GSPAY
assumes no liability of Merchant for failure to comply with this Agreement and any
results caused by the acts, omissions or negligence of Merchant, sub-contractor or
an agent of Merchant or an employee of any one to them, including, but not limited
to, claims of third parties arising out of or resulting from or in connection
with Merchant's products or services, messages, programs, caller contracts,
promotions, advertising, infringement or any claim for libel or slander or for
violation of copyright, trademark or other intellectual property rights.
18. Term and Termination
initial term of this Service Agreement shall be for 12 months beginning
upon execution of this document by Merchant. The term shall automatically
renew at the end of the initial term and each consecutive
12 month period thereafter unless GSPAY receives written notice of non-renewal from Client no
less than 30 days prior to the expiration of any such 12 month
period. GSPAY may add to or modify these conditions and rules upon notice
to you. If you do not meet and follow all of the these
conditions and rules, you may not enter into this agreement. GSPAY reserves the right to
terminate this Agreement without cause upon 30 days prior notification to
Merchant. GSPAY may further terminate this Agreement immediately without notice
and without payment at any time if Merchant breaches any part of this Agreement,
if Merchant is believed to be engaged in fraudulent activity, or if Merchant account
has incurred an excessive number of charge-backs in GSPAY' opinion. Upon
cancellation or notice of non-renewal by Merchant, payment to GSPAY shall be made
in accordance with the section entitled Payment, above.
In the event Merchant defaults in any provision or fails to perform pursuant to
this Agreement, GSPAY shall be entitled to damages, costs and attorney's fees
20. Invalid or Non-enforceable Provisions
The invalidity or unenforceability of any provision of this Agreement, as so
determined by a court of competent jurisdiction, shall not affect the other
provisions hereof, and in any such occasion this Agreement shall be construed in
all respects as if such invalid or unenforceable provision were omitted.
21. Governing Law
This agreement is governed by the laws of the United Kingdom. Merchant
acknowledges and agrees that UK courts have jurisdiction over this
agreement and GSPAY, that London is an appropriate place for venue of
any litigation, and that all litigation, to the extent possible, shall be in
The captions in this Agreement are for convenience only and shall not be used in
interpreting, construing, performing or enforcing this Agreement, except that
the section entitled "Payment" shall be used to construe the manner in which
GSPAY is to receive its fees.
23. Amendments and Modifications
GSPAY may amend this Agreement to take into account changes in law or
regulations or industry mandates and to accommodate changes imposed on GSPAY,
and to make other changes deemed necessary by GSPAY, provided that such changes
do not materially alter the ongoing obligations of the parties, by sending
Merchant a specimen of the changed Agreement, or making a specimen of the changed
agreement available upon a web page located on the World Wide Web. Unless Merchant
rejects the changed Agreement and terminates this Agreement by notice to GSPAY
in writing within fifteen (15) days after GSPAY sends the changed Agreement, or
makes said changed agreement available on the World Wide Web, the changed
Agreement shall replace this Agreement and be in full force and effect.
24. Survival of Claims
Any claim against GSPAY must be made within thirty (30) days of the event of the
25. Entire Agreement
By accepting this Agreement, the Merchant or Merchant's authorized representative
acknowledges that Merchant has read, understood, and accepted this Processing
Agreement, that this Processing Agreement contains the entire agreement of the
parties and that no other agreements, instruments or writings are in effect, and
that Merchant assumes all obligations under this Processing Agreement pertaining
to the web sites described in this Processing Agreement and its schedules.
Any and all notices to GSPAY, or other communications under or with respect to
this Agreement to GSPAY, shall be in writing, and shall be delivered by hand;
mailed postage pre-paid, either by registered or certified mail, return receipt
requested; or by overnight courier to the following address:
MERCHANTS GATEWAY LLP
SUITE 2, 23-24 GREAT JAMES STREET
Or via e-mail to: info AT gspay dot com
27. Transfer and Assignment
Merchant may not sell, assign or transfer any of its rights or obligations under
this Agreement without the prior written consent of GSPAY.
28. Survival of Obligations
The rights and obligations of the parties hereunder which by their nature would
continue beyond the termination or cancellation of this Agreement (including,
without limitation, those relating to confidentiality, payment of charges and
limitations of liability) shall survive any termination or cancellation of this
29. Merchandise sample assessment
GSPAY and/or its clearing partners leave the right to request the merchant a sample of the electronic device such as cell phone, mp3 player, GPS system and other at own discretion that generally should obtain the guarantee period and other possible post sales service for assessment possible charge backs and refunds risks which may occur due to low quality product. GSPAY will not reimburse the merchant the cost of the sample either its delivery expenses or does not guarantee the sample would be returned the merchant.
By clicking "I Agree", "I Accept"; or by using or attempting to use the Service;
or by signing a GSPAY signature page which states that you understand and agree
to these terms and conditions, Merchant agrees that Merchant has read, understands,
and agrees to abide by this Agreement, and any documents incorporated by
reference, and Merchant agrees that Merchant intends to form a legally binding
contract; and that this Agreement constitutes "a writing signed by Merchant" under
any applicable law or regulation. Any rights not expressly granted herein are
reserved by GSPAY LIMITED.