These terms are effective as of the date set forth above. Paythium Ltd is a company incorporated and registered in England and Wales with company number 15503200, whose registered office is 85 Great Portland Street, First Floor, London, W1W 7LT ("we", "us", "our" and "Paythium").
These Merchant Terms (the “Terms”) govern your access to and use of Paythium's Payment Services. By using the Payment Services, you agree to comply with these Terms. If you do not agree, you must not use the Payment Services.
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1. Eligibility
1.1 To use the Payment Services, you must:
• Be a business in the UK selling goods or services (not for personal, family, or household use).
• Register for a Paythium Account, either as an individual (sole proprietor) or as a legal entity.
1.2 You represent and warrant that:
• You are at least 18 years old.
• You have the authority to accept these Terms on behalf of your business.
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2. Account Registration and Access
2.1 You must provide accurate and up-to-date information when registering for a Paythium Account, including your business name, address, email, phone number, and registration number.
2.2 Your Paythium Account includes registration for a Processor Account under separate Processor Terms. By creating a Paythium Account, you agree to share your details with both Paythium and the Processor for payment processing purposes.
2.3 You are responsible for maintaining the confidentiality of your login credentials. Notify us immediately of any unauthorized use or security breaches.
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3. Fees and Responsibilities
3.1 You agree to pay fees for payment processing as outlined in your Paythium Schedule. These fees (“Processing Fees” or “Fees”) are collected by the Processor for Pay by Card payments and by us for Pay by Bank payments.
3.2 Pay by Bank fees will be charged by direct debit every 30 days. We will generate and send an invoice to Merchants on the 1st day of each month and take payment 5 days after the invoice date.
3.3 We may suspend a Merchant's use of the Platform if payment is overdue by more than 14 days.
3.4 You are responsible for any applicable taxes, including VAT.
3.5 We may change the fees with 30 days' notice. Continued use of the Payment Services after this notice constitutes acceptance of the updated fees.
3.6 You are liable for penalties or fines resulting from unauthorized use of the Payment Services.
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4. Permitted Use
4.1 You may only use the Payment Services for lawful purposes related to your business activities.
4.2 You must not:
• Violate applicable laws or regulations.
• Copy, modify, or distribute the Payment Services.
• Attempt to reverse-engineer or extract the source code.
• Use the Payment Services in a way that harms our systems or disrupts other users.
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5. Intellectual Property
5.1 We retain all rights, title, and interest in the Payment Services, including intellectual property rights.
5.2 You are granted a limited, non-exclusive, revocable license to use the Payment Services.
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6. Privacy and Data Protection
6.1 We process personal data in accordance with our Privacy Policy and applicable data protection laws, including UK GDPR and the Data Protection Act 2018.
6.2 By using the Payment Services, you consent to data processing as described in our Privacy Policy.
6.3 You are responsible for ensuring the security of your devices and networks when accessing the Payment Services.
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7. Changes to the Terms
7.1 We may update these Terms from time to time. If significant changes occur, we will notify you via email or the Software. Continued use after such changes constitutes acceptance.
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8. Limitation of Liability
8.1 We are not liable for losses resulting from:
• Legal or regulatory requirements.
• Unforeseeable events beyond our control (e.g., industrial action, system failures).
• Third-party services, including your bank or payment processor.
8.2 Our total liability to you shall be limited to £1,000.
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9. Termination
9.1 Either party may terminate this agreement with 14 days' notice.
9.2 We may suspend or terminate your access immediately for breach of these Terms or as required by law.
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10. Governing Law and Dispute Resolution
10.1 These Terms are governed by the laws of England and Wales.
10.2 Disputes shall be subject to the jurisdiction of the courts of England and Wales.