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This Terms of Service, and any Order Form where applicable (collectively, the “Agreement”), governs the services provided to you (“Merchant” or “you”) by Privex Pay. By using the Services, you confirm that you have read, understood, and accepted this Agreement. Your use of the Services is conditional upon your acceptance. Privex Pay reserves the right to amend these Terms at any time — continued use after changes take effect constitutes acceptance of the revised Terms. This Agreement is governed by the laws of England and Wales.
The following terms apply throughout this Agreement:Merchant of Record — The legal entity that, for each Transaction, sells the Products to the Buyer in its own name, receives and holds the Buyer’s payment as principal, and is responsible for applicable taxes, refunds, chargebacks, and compliance obligations.Buyer — An individual or entity that purchases Products from the Merchant through the Privex Pay platform, where Privex Pay acts as the Merchant of Record.Privex Pay Fee — The total commercial deductions retained by Privex Pay from the gross proceeds of Transactions in connection with its role as Merchant of Record, including the Merchant Fee and any other applicable charges agreed between the parties.Products — Any digital goods, digital content, software, licences, subscriptions, or other items or services listed by the Merchant in their stores.Services — The commercial services provided by Privex Pay as Merchant of Record, whereby Privex Pay sells the Merchant’s Products to Buyers in its own name, collects payment, retains agreed amounts, and pays the Merchant the net proceeds.Transaction — The sale of a Product by Privex Pay, as Merchant of Record, to a Buyer, where the Product is supplied by the Merchant and payment is collected by Privex Pay.
Privex Pay acts as the Merchant of Record for Transactions in the territories it supports. As Merchant of Record, Privex Pay:
  • Sells Products to Buyers in its own name
  • Receives and holds Buyer payments as principal
  • Is responsible for applicable taxes, refunds, chargebacks, and compliance obligations
Privex Pay works with regulated third-party providers to accept payments for its own retail sales as Merchant of Record. Privex Pay does not provide payment services to Merchants or Buyers directly.
Privex Pay provides the Services only in the territories it supports, as determined in its sole discretion and subject to change.
The Services are not available in the following jurisdictions: Afghanistan, Belarus, Central African Republic, Cuba, Democratic Republic of the Congo, Ethiopia, Iran, Iraq, Lebanon, Libya, Mali, Myanmar (Burma), Nicaragua, North Korea, Somalia, Sudan, Syria, Venezuela, Yemen, and Zimbabwe.
Privex Pay does not provide the Services to any party located in, ordinarily resident in, established under the laws of, or conducting business from any jurisdiction subject to comprehensive trade or economic sanctions, embargoes, or other restrictions under applicable law.
You appoint Privex Pay as your non-exclusive Merchant of Record for your Products in all supported territories. As your Merchant of Record, Privex Pay will:
  1. Set up your Merchant Account on the platform, giving you access to the Merchant Dashboard to track sales, payments, and amounts due to you.
  2. Act as the Merchant of Record for your Products, selling Products to Buyers in its own name, receiving payment as the seller of record, and remitting the net amount to you after applicable fees, taxes, refunds, and chargebacks.
  3. Confirm payment to you and facilitate Buyer access, download, or receipt of the Products.
  4. Provide order support related to payments and handle the calculation, collection, and remittance of applicable sales and transaction taxes.
Your Merchant Account is non-transferable. If you wish to transfer or assign any registered business URLs to another entity or individual, such transfer is only permitted with Privex Pay’s prior written consent and subject to the following conditions:
  1. Security deposit requirement — Privex Pay may require you or the transferee to provide a security deposit.
  2. Risk assessment — The transfer is subject to a full risk and compliance review, including KYC, AML, sanctions screening, and fraud checks.
  3. No automatic rights — You have no automatic right to transfer URLs, and any attempted transfer without prior written consent is void.
  4. Liability beyond deposit — The security deposit does not limit your or the transferee’s liability.
  5. Continuing liability — Until the transfer is formally approved in writing, you remain fully liable for all obligations.
For each Transaction, Privex Pay receives payment from the Buyer, deducts applicable fees and amounts, and pays the agreed net amount to you in accordance with the Settlement Schedule.Applicable deductions include:
  • Any tax due or incurred
  • The Privex Pay Fee (see Financial Terms)
  • Any other charges payable under this Agreement
Payouts
  • Payouts are initiated every Monday for all cleared Transactions.
  • There is no minimum payout amount.
  • Payouts are made to the bank account or crypto wallet you designate.
Fees
  • A standard fee of 10% of the transaction amount is deducted from your proceeds for each purchase processed by Privex Pay as Merchant of Record.
  • Privex Pay may deduct from any payout any fees, charges, taxes, penalties, refunds, chargebacks, or other amounts owed by you.
  • Privex Pay reserves the right to amend its fees at any time with notice.
Set-off rightsPrivex Pay may, at any time and without prior notice, set off, deduct, or withhold from any amounts payable to you any amounts owed by you to Privex Pay, whether arising under this Agreement or otherwise.
Financial terms are subject to change and will be communicated to you in writing.
To use Privex Pay as your Merchant of Record, you must complete the following onboarding steps:
1

Register

Create an account on the Privex Pay platform and complete email verification.
2

Enable two-factor authentication

Enable 2FA in your account settings before proceeding.
3

Complete KYC

Successfully complete the Know Your Customer (KYC) process, including passport or government-issued ID checks, liveness verification, and device and network analysis.
All approved merchants are subject to ongoing monitoring, including daily transaction and activity reviews. Privex Pay reserves the right to reclassify your risk tier or suspend or terminate services at any time.
Before using the Services, and at any time upon request, you must provide complete, accurate, and up-to-date information about your business.You may only use the Services for legitimate transactions with your customers. You are solely responsible for:
  • The legality, quality, and delivery of your products or services
  • Customer support, refunds, and returns
  • Clear disclosure of terms, policies, and pricing
  • Compliance with all applicable laws
Suspension and termination triggersPrivex Pay may suspend or terminate your access if:
  • Your chargeback or fraud rates exceed acceptable thresholds
  • You fail to provide required information
  • You engage in prohibited activities
  • Your activities expose Privex Pay to unacceptable risk
Refund processBecause Privex Pay is the Merchant of Record, you must not issue any invoice or make any direct demand for payment to any Buyer in a Transaction. If you agree with a Buyer to issue a refund, you must notify Privex Pay, and Privex Pay will process the refund to the Buyer.Digital goods policyDigital goods, digital content, software, licences, subscriptions, and other intangible items are deemed delivered, opened, and used in full at the time the sale is completed. No refunds will be processed for digital goods unless required by applicable law.Excessive chargebacksIf Privex Pay determines that one or more of your Products have an excessive chargeback or refund rate, Privex Pay may:
  • Immediately suspend the sale of all or part of your Products
  • Implement additional controls
  • Terminate the Services with immediate effect
  • Share information about your business with its payment service providers
Privex Pay operates under a self-billing arrangement for all settlements made to you. This means Privex Pay generates and issues settlement statements and corresponding self-billed invoices on your behalf.You are responsible for providing Privex Pay with accurate tax details and for updating them promptly. You remain solely responsible for assessing, reporting, and remitting any taxes applicable to your business.
By entering into this Agreement and using the Services, you represent, warrant, and undertake that:
  1. You are duly organised, validly existing, and in good standing under the laws of your jurisdiction.
  2. All information you provide to Privex Pay is true, accurate, complete, and up-to-date.
  3. You will comply with all applicable laws, regulations, and Privex Pay’s Acceptable Use Policy.
  4. All transactions submitted to Privex Pay are genuine, authorised by the Buyer, and represent a bona fide sale.
  5. You will ensure that products or services you sell are accurately described, delivered as promised, and do not infringe any third-party rights.
  6. You will not use Privex Pay’s services for any illegal, fraudulent, deceptive, or prohibited activities.
Privex Pay disclaims any and all warranties, representations, and conditions, whether express, implied, or statutory, regarding the Services to the fullest extent permitted by law. The Services are provided “as is” and without warranties of any kind.To the fullest extent permitted by applicable law, in no event will Privex Pay, its partners, payment processors, or affiliates be liable to you or any third party for any special, incidental, indirect, punitive, exemplary, or consequential damages arising out of or in connection with this Agreement or the Services.
ConfidentialityThe parties acknowledge that they may share confidential information for the purposes of this Agreement. The receiving party shall not use, disclose, or otherwise take advantage of such information, except as expressly permitted in this Agreement. This obligation survives termination or expiry of the Agreement.PrivacyEach party acts as an independent Data Controller for the purposes of Data Protection Laws and agrees to comply at all times with such laws, including GDPR. Privex Pay maintains appropriate administrative, physical, and technical safeguards for the protection of the security, confidentiality, and integrity of personal data.
If you have no sales for a period of two consecutive months and there is an outstanding balance payable to you, Privex Pay reserves the right to charge an account dormancy fee and/or deactivate your account.Dormant accounts with a negative balance and no sales activity in the preceding fifteen days may be deactivated immediately.
Standard terminationEither party may terminate this Agreement by giving the other party at least 30 days’ written notice.Immediate terminationPrivex Pay may terminate this Agreement immediately if:
  • Required by its payment processors or acquiring banks
  • You appear on a high-risk or restricted merchant list
  • Any of your representations or warranties are found to be false
  • There is suspected fraud, criminal activity, or regulatory non-compliance
  • Your chargeback rate is excessive
  • Your products or services breach the Acceptable Use Policy
After terminationTermination or suspension does not release either party from payment obligations accrued before termination. Privex Pay may retain amounts payable to you to cover potential refunds, chargebacks, and other liabilities.Retained funds will be released on the later of six months after termination or the expiry of the longest subscription period sold before termination, minus any deductions.
  • Entire agreement — This Agreement constitutes the entire agreement between the parties.
  • Assignment — Neither party may assign or subcontract without written consent.
  • Force majeure — Neither party will be liable for delays caused by events beyond its reasonable control.
  • Waiver — No delay or omission in enforcing rights shall be deemed a waiver.
  • Severability — If any clause is found invalid, the remainder of the Agreement remains in effect.
  • Independent contractors — The parties are independent contractors and not agents, partners, or employees.
  • Governing law — This Agreement is governed by the laws of England and Wales. The courts of England and Wales have exclusive jurisdiction over any dispute arising under this Agreement.