Merchant Terms

9        Merchant Services

9.1      Merchant Services

Users who intend to sell goods and/or services (each, a “Merchant”) and who wish to accept Digitised Cards, UPI, Digital Currencies from purchasers as a method of payment may use a suite of tools and related services for this purpose (the “Merchant Services”). Through the Merchant Services, HCEWALLET enables Merchants to accept Digital Currency from customers as a method of payment, and processes the transfer of Digital Currency to Merchants from their customers. Merchants may also sell Digital Currency to, or buy Digital Currency from, HCEWALLET, and otherwise utilize the HCEWALLET Services, in the same manner as any other User. Use of Merchant Services is subject to this Part 2 and is also subject to General Use terms, including without limitation the releases, indemnities, disclaimers, limitations of liability, prohibited use, dispute resolution, and cancellation policies set forth above.

9.2      Merchant Profile

Each Merchant User is required to provide accurate information necessary to complete a merchant profile associated with the User’s HCEWALLET Account. This information may include business name, address and other contact information, website URL, taxpayer or other government ID, corporate documents, and other information HCEWALLET may request. HCEWALLET may limit Merchant transaction volumes depending on (i) the Merchant’s historical activity on HCEWALLET, (ii) satisfactory completion of a Merchant profile; (iii) satisfaction of reasonable requests for additional information; (iv) perceived risks; (v) repeated customer complaints; and/or (vi) any indication that the Merchant has violated this Agreement. Newly on-boarded Merchants may be required to submit to additional verification procedures as necessary to verify that the Merchant operates a legitimate business.

Merchant Transactions and Settlement

9.3      Transaction Confirmation

HCEWALLET will provide Users of Merchant Services with an order notification indicating when or whether the Merchant has been paid by its customer.

9.4      Completed Order Notifications

Upon Merchant’s customer’s submission of a valid and completed payment through Merchant Services, HCEWALLET will send a callback to Merchant’s designated callback URL to confirm successful transfer of the customer’s payment to Merchant—so designated as a “completed” order. Except on suspicion of fraud, error, or abusive use, HCEWALLET will not reverse a payment and/or corresponding Digital Currency credit which it has designated as completed.

9.5      Timing of Completed Order

HCEWALLET will initiate an order status callback when HCEWALLET detects that the corresponding Digital Currency transaction has been confirmed by the corresponding Digital Currency network.

9.6      Mispaid Order Notifications

A callback may also indicate an order status as “mispaid,” meaning HCEWALLET has detected transfer of an amount of Digital Currency which does not correspond with the Digital Currency Price and/or that the customer transferred Digital Currency after expiration of a checkout window. “Mispaid” orders may result in transfer of Digital Currency to Merchant’s HCEWALLET Wallet for further processing by Merchant in accordance with Merchant’s refund and order processing policies, but shall not be deemed completed by HCEWALLET.

9.7      Limitations

HCEWALLET may delay order verifications if Merchant has not provided its legal name, logo, website, phone number, address, taxpayer identification number, designation of business location and type. Until completion of such applicable verification procedures, newly-boarded Merchants may experience delayed processing of Digital Currency Transactions or Conversion Service transactions. HCEWALLET will designate any such delayed transaction as “pending,” and funds will not be available in the Merchant’s HCEWALLET Account and/or Currency Account until the pending transaction is completed. HCEWALLET reserves the right to refuse to process, cancel, or to reverse any Merchant transactions at its sole discretion.

9.8      Instant Conversion

Merchants who have successfully linked a payout method to their HCEWALLET Account may use the Instant Conversion Service. The Instant Conversion Service will allow Merchants to designate the price of their goods and services in Fiat Currency and customers to pay for their purchases from such Merchant in Digital Currency based on the Sell Price Conversion Rate quoted by HCEWALLET on the HCEWALLET Site and displayed to the customer at the time that the customer approves the purchase.

9.9      Merchant Transactions

Each Merchant acknowledges and agrees that HCEWALLET has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that the Merchant may sell to customers using the HCEWALLET Services. Each Merchant is responsible for handling customer inquiries related to the goods and/or services it sells to customers through the HCEWALLET Services, except for inquiries related to payment for such goods or services which will be handled by HCEWALLET. Each Merchant warrants that it will not use any HCEWALLET Services in connection with any Prohibited Use. Each Merchant confirms that by opening a HCEWALLET Account, the Merchant will not use the HCEWALLET Services to accept payments in connection with any of the Prohibited Businesses. Each Merchant further warrants that it will not use HCEWALLET Services in connection with transactions which involve pre-payment of an order which the Merchant does not intend to fulfill within thirty (30) days.

9.10   Obligations of Merchants

In addition to the obligations set forth elsewhere in this Agreement, Merchants agree to:

(a) At all times maintain all licenses, registrations, authorizations and approvals required to operate their business, conduct all activities related thereto, and utilize the HCEWALLET Services in connection therewith.

(b) Ensure that all aspects of their business, including (i) all Merchant activities, and the activity of any third party engaged by the Merchant, (ii) the goods and services offered for sale by Merchant, and (iii) the acts or omissions of each Merchant in connection with their use of HCEWALLET Services comply with applicable law at all times.

(c) Promptly provide, and cause third parties under its control to promptly provide, such information as HCEWALLET may request from time to time regarding (i) the Merchant, its policies, procedures, and activities, (ii) any good or service offered for sale and for which the Merchant may accept payment by use of HCEWALLET Services, or (iii) any transaction conducted through the use of HCEWALLET Services, to the extent HCEWALLET deems such information reasonably necessary to comply with its policies or procedures, applicable law, an audit, or the guidance or direction of, or request from, any regulatory authority or financial institution.

(d) Within the HCEWALLET-hosted payment page, accurately identity the sale item in the Item Name field and provide an accurate and succinct description of the same sale item in the Item Description Field.

(e) Authorize HCEWALLET to, directly or through third parties, (i) make any inquiries we consider necessary to verify your identity and/or account information, and (ii) request and obtain any consumer report, credit report or similar information relating to you and to take action we reasonably deem necessary based on the results of such inquiries and reports, and hereby authorize any and all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests.