Terms of Service

1. Introduction and Acceptance

These Terms of Service ("Terms") constitute a legally binding agreement between you ("Merchant", "you", or "your") and Squid Pay Ltd ("Squid Pay", "we", "us", or "our"), a company registered in the Cayman Islands.

By accessing or using our payment processing services, you agree to be bound by these Terms. If you do not agree to these Terms, you may not use our services.

2. Services

Squid Pay provides payment processing services that enable Merchants to accept card payments from their customers. Our services include:

• Processing of credit and debit card transactions
• Merchant dashboard for transaction monitoring
• Payment link generation
• Settlement of funds to your designated bank account

3. Merchant Eligibility and Registration

To use our services, you must:

• Be at least 18 years of age
• Have legal capacity to enter into binding contracts
• Provide accurate and complete registration information
• Complete our KYC (Know Your Customer) verification process
• Not be engaged in any prohibited business activities
• Maintain a valid bank account for settlement purposes

4. Fees and Payments

Transaction Fee: We charge a fee of 0.33% per successful transaction processed through our platform.

Settlement: Funds from processed transactions, less applicable fees, will be settled to your designated bank account according to the settlement schedule agreed upon during registration.

Chargebacks: You are responsible for all chargebacks and associated fees. We reserve the right to deduct chargeback amounts from pending settlements or your merchant balance.

5. Prohibited Activities

You may not use our services for:

• Illegal activities or products/services prohibited by law
• Adult content, gambling (unless properly licensed), or weapons sales
• Fraudulent transactions or money laundering
• Sale of counterfeit goods or intellectual property infringement
• Transactions that violate card network rules
• Any activity that could damage our reputation or services

6. Compliance with Laws

You agree to comply with all applicable laws and regulations, including but not limited to:

• The Proceeds of Crime Act (2020 Revision) of the Cayman Islands
• Anti-Money Laundering Regulations (2020 Revision)
• Card network rules (Visa, Mastercard, etc.)
• Consumer protection laws applicable to your business
• Data protection and privacy laws

7. Refunds and Disputes

Merchant Refund Policy: You must maintain a clear refund policy and honor legitimate refund requests from your customers.

Disputes: In the event of a customer dispute or chargeback, you agree to cooperate fully with our investigation and provide all requested documentation within the specified timeframes.

8. Account Suspension and Termination

We may suspend or terminate your account if:

• You breach these Terms
• We suspect fraudulent or illegal activity
• Your chargeback rate exceeds acceptable thresholds
• Required by law or regulatory authority
• You fail to maintain required documentation

You may terminate your account at any time by providing written notice. Upon termination, we will settle any outstanding balances less any applicable holds for chargebacks or disputes.

9. Limitation of Liability

To the maximum extent permitted by law, Squid Pay shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising out of or relating to your use of our services. Our total liability shall not exceed the fees paid by you in the twelve (12) months preceding the claim.

10. Indemnification

You agree to indemnify and hold harmless Squid Pay, its officers, directors, employees, and agents from any claims, damages, losses, or expenses arising from your use of our services, your breach of these Terms, or your violation of any laws or third-party rights.

11. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of the Cayman Islands. Any disputes arising under these Terms shall be subject to the exclusive jurisdiction of the courts of the Cayman Islands.

12. Amendments

We reserve the right to modify these Terms at any time. We will notify you of material changes by email or through our platform. Continued use of our services after such notification constitutes acceptance of the modified Terms.

13. Contact Information