Terms of Service

Last updated: June 12, 2026

1. Agreement

These Terms of Service ("Terms") govern access to and use of the payment processing services, APIs, dashboards, and website (together, the "Services") provided by AssetPay, an AssetRails company ("AssetPay", "we", "us"). By applying for or using a merchant account you ("Merchant", "you") agree to these Terms. If you sign a separate Merchant Agreement with us, that agreement prevails where it conflicts with these Terms.

2. Eligibility and onboarding

• The Services are available to businesses only, not consumers.
• All accounts are subject to Know-Your-Business (KYB) verification, sanctions and AML screening, and ongoing compliance review. We may request documents about your entity, directors, and ultimate beneficial owners at any time.
• You must provide accurate, complete information and keep it up to date. Approval is at our sole discretion and may be subject to conditions (for example reserves or volume limits).
• Regulated verticals (for example gambling, forex/CFD, or tobacco) must hold and maintain all licences required in the markets they serve, and provide copies on request.

3. The services

Depending on your approval, the Services may include: card acquiring and processing (including Apple Pay and Google Pay), cryptocurrency payment acceptance (USDT and USDC on supported networks), virtual IBAN collection accounts, foreign exchange, and settlement in fiat or stablecoins. We may add, change, or withdraw features with reasonable notice.

4. Merchant obligations

• Sell only lawful goods and services, accurately described to your customers.
• Use the Services only for the business, website(s), and vertical(s) disclosed during onboarding; obtain our approval before material changes.
• Maintain a fair refund and customer service policy and honour it.
• Do not process transactions on behalf of third parties (no aggregation or transaction laundering).
• Comply with card scheme rules, applicable law, and sanctions regimes.
• Keep API keys and credentials confidential; you are responsible for activity under your keys until you notify us of a compromise.

5. Prohibited businesses

We do not serve, and you must not use the Services for: sanctioned persons or jurisdictions; child sexual abuse material or any sexual services involving minors; sale of weapons, explosives, or controlled drugs; counterfeit goods or intellectual-property infringement; Ponzi, pyramid, or deceptive investment schemes; terrorist financing or money laundering; or any activity illegal in the customer's or merchant's jurisdiction. We may update this list and refuse any business we consider an unacceptable risk.

6. Fees

Fees are set out in your Merchant Agreement or fee schedule (typically a percentage of transaction value plus fixed fees, and per-event fees for refunds, chargebacks, and payouts). We may change fees with at least 30 days' notice. Processing fees are charged on the gross transaction amount and are non-refundable, including for refunded or charged-back transactions unless stated otherwise.

7. Settlement, reserves, and holds

• Standard settlement timing is T+7 during the first four weeks after go-live, then T+3 thereafter, unless your agreement states otherwise. Stablecoin settlement (USDC/USDT) is available for qualifying merchants.
• We may maintain a rolling reserve (typically up to 10% for up to 180 days) and adjust it based on risk, chargeback performance, or regulatory requirements.
• We may delay, suspend, or withhold settlement where we reasonably suspect fraud, illegality, excessive disputes, or breach of these Terms, or where required by our partners or the law.
• You are responsible for the accuracy of payout bank details and wallet addresses. Crypto payouts sent to the address you configured are final.

8. Chargebacks and disputes

You are liable for the full amount of chargebacks and associated fees. Excessive chargeback ratios may lead to reserves, fines passed through from card schemes, suspension, or termination. We will pass on dispute notifications promptly; you must respond with evidence within the deadlines shown in the dashboard.

9. Crypto-specific terms

• We accept only whitelisted token contracts (official USDT and USDC) on supported networks (currently TRON, Base, and Polygon). Tokens sent from other contracts or networks are unsupported and may be unrecoverable.
• Exchange rates are locked for a limited window at checkout; underpaid or late payments may be marked underpaid or expired and handled per our Refund Policy.
• Blockchain transactions are irreversible. Confirmation thresholds apply before funds are treated as final.
• You bear network risk (congestion, forks, protocol changes) outside our reasonable control.

10. APIs and security

We grant you a limited, revocable, non-exclusive licence to use our APIs and dashboards for your own business. You must not resell access, reverse engineer the Services, exceed rate limits designed to protect the platform, or store card data outside PCI DSS-compliant systems. Webhook endpoints you configure must verify signatures.

11. Suspension and termination

Either party may terminate with 30 days' written notice. We may suspend or terminate immediately for breach, unacceptable risk, regulatory or partner requirements, insolvency, or prolonged inactivity. After termination we may retain reserves for up to 180 days to cover chargebacks, refunds, and fees, and will then settle the balance.

12. Warranties and liability

The Services are provided "as is" without warranties of uninterrupted or error-free operation. To the maximum extent permitted by law, our aggregate liability for any claims in a 12-month period is limited to the fees you paid us in that period, and neither party is liable for indirect or consequential losses. Nothing limits liability for fraud or where limitation is not permitted by law.

13. Indemnity

You will indemnify us against losses, fines, and claims arising from your breach of these Terms, your products or services, your violation of law or scheme rules, or disputes with your customers.

14. General

These Terms are governed by the law stated in your Merchant Agreement. We may update these Terms with reasonable notice; continued use after the effective date constitutes acceptance. If any provision is unenforceable, the remainder stays in effect. Notices may be given by email to your registered contact.

15. Contact

Questions about these Terms: legal@assetpay.io.