Privacy Policy
By Using Zpayd Merchant Solution as a payment method for your invoices, you agree to be bound by these Zpayd Merchant Terms (“Terms”). As used in the Terms (i) “we” , “our”, “us” or “Zpayd” means Zpayd., and its Affiliates, where “Affiliates” means any entity that directly or indirectly controls, is controlled by, or is under common control with Zpayd; and “Merchant”, “you”, “your”, “their” means any individual or legal entity that offers or uses Zpayd Merchant as a payment method for its invoices/bills.
Please read these Terms carefully, as they are a legally binding agreement between you and Zpayd Merchant Solution. By offering or using Zpayd Merchant as a payment method for your invoices (“using Zpayd Merchant Solution” or “use of Zpayd Merchant”), you agree to be bound by the Terms. Any new features or tools which are added to the current Zpayd Merchant offering shall also be subject to the Terms.
Zpayd Merchant Solution reserves the right to update and change any portion of the Terms by posting updates and changes to https://merchant.zpayd.com We may update the Terms from time to time, so please check back for any changes that may impact you. If you do not accept any such updates or changes, you must stop using Zpayd
1. Zpayd Merchant Solution
Zpayd Merchant enables businesses and individuals to submit invoices to their respective customers along with work order and get paid using Zpayd Merchant Platform. Work order and invoices are delivered for final work and under no circumstances, Merchant should charge customers for any advanced payment.
Zpayd Merchant Solution allows registered Merchants to send payment request to their respective customers in three (3) supported currencies; USD, EUR and CAD.
Merchants can initiate withdrawal request and have their funds pushed to their local bank in local currency.
2. Account Limit
Approved Zpayd Merchants have $2,500 CAD temporary monthly limit posed on the account. Account limits are reviewed periodically and updated according to Merchant’s risk evaluation with Zpayd Merchant Solution.
3. Transaction Conversion
Zpayd Merchant settled currency is Canadian Dollar (CAD). Merchants billing their customers in any currency (other than CAD) are subject to conversion based on domestic market currency rates.
4. Transaction Limit
4.1 Zpayd Merchant transactions are set at $1 CAD minimum and $2, 500.00 CAD maximum (Subject to change based on account performance).
4.2 Zpayd Merchant withdrawal transaction limit is set at $100.00 CAD minimum and $2, 500.00 CAD maximum.
5. Fees
Zpayd Merchant fees are subject to change with prior notice provided to platform billers. Current fees are structured as follows:
5.1 Zpayd Merchant Card Processing Fee is set at 3% on all cards. Fee is by default passed on to Merchant’s customers, itemized as “Convenience Fee” at the checkout. If Merchant wants to absorb card processing fee, instead of their respective customer, they must submit a request to Zpayd Merchant Solution to have this setting changed on their account.
5.2 Transaction Fee for any withdrawal request, regardless of dollar amount, is set at $1.75 CAD
5.3 Conversion Fee on withdrawal is structured based on dollar amount withdrawal request. For any amounts less than $1,000.00 CAD, 6% mark up rate on foreign exchange applies. For amount $1,000.00 CAD or greater but below $2,000 CAD, 4.5% mark up and for amounts $2,000.00 CAD or greater, mark up rates are set at 3%.
6. Rolling Account Hold
Zpayd Merchant Solution holds 25% of all transactions on a 90 Day Rolling Account against any potential chargeback claim brought by biller’s customers. Funds are released to Zpayd Merchant on the 90th day when the hold matures. For transparency, Zpayd Merchants have visibility of the rolling account and can view amounts held for each transaction.
7. Chargeback
Merchants are solely responsible for any chargeback claim related to transactions performed on Zpayd Merchant platform. Should a chargeback claim be made against the Merchant, Zpayd Merchant Solution reserves the right to deduct the funds from the Merchant's account along with any imposed penalties. Zpayd Merchant Solution will use all means disposable at the company or its affiliates to recover any funds that may result in loss for Zpayd Merchant Solution. Zpayd Merchant reserves the right to terminate customer and merchant who make and cause multiple chargeback claims against the company.
8. Declined Transactions
Multiple failed or declined transactions will be evaluated and can be viewed as a sign of fraud and will go against Merchant’s rating. Merchants should know their customer and only submit valid payment requests for valid performed work.
9. Fraud
Merchants or transactions deemed as fraudulent will be prosecuted according to local and international laws.
9.1 Money Laundering and Terrorist Financing are criminal acts and as such, will be subject to reporting rules set out domestically and internationally.
9.2 Impersonation of an individual is a crime. Zpayd Merchants can only request payments from entities or individuals that are named on the invoice. If cardholder and invoice name do not match, transactions will fail.
10. Biller Responsibility
Merchant is responsible for maintaining the account according to Zpayd Merchant Solution Terms of Service (TOS) set out in this document and as per any future updated version of TOS provided at https://merchant.zpayd.com
11. Termination
Zpayd Merchant Solution reserves the right to terminate any Merchants immediately for any reason it deems as sufficient to commence termination. Merchants have the right to appeal termination, at which point a governing body of Zpayd Merchant Solution will review those appeals and assess them individually.
12. Declaration
By using Zpayd Merchant Solution, user acknowledges having received, read and understood the terms contained under this document and privacy policy posted on https://merchant.zpayd.com and agrees to use the service according to these rules and to any future updated terms and conditions that user might receive.
Location: Toronto
