1. Introduction and Acceptance
These Payment Processing Terms and Conditions ("Terms") govern your use of payment processing services provided through the Zipy platform, operated by Frontier Fintech Limited ("Zipy", "we", "us", "our"). By activating payment processing on your Zipy website, you agree to be bound by these Terms in addition to Zipy's general Terms of Service.
2. Payment Processing Service
Zipy facilitates payment processing through Stripe Connect, a third-party payment platform operated by Stripe, Inc. ("Stripe"). When you activate payment processing:
- You create a Stripe Connected Account linked to your Zipy website
- You become the merchant of record for all transactions processed through your account
- Payments from your customers are processed by Stripe and deposited into your linked bank account
- Zipy acts solely as a technology platform facilitating the connection between you and Stripe
3. Merchant of Record Status
As the merchant of record, you acknowledge and agree that:
- You are the seller of goods and/or services to your customers
- All transactions are between you and your customers directly
- You are responsible for the quality, delivery, and fulfilment of all goods and services sold
- Your business name will appear on customer bank/credit card statements
- You must comply with all applicable consumer protection laws in New Zealand and any jurisdiction where you sell
4. Chargebacks and Disputes
You are solely and entirely responsible for all chargebacks, payment disputes, and fraud claims related to transactions processed through your Stripe account. This includes:
- Chargeback fees: Stripe charges a fee for each chargeback (currently NZ$25 per dispute). You are responsible for paying all chargeback fees
- Dispute resolution: You must respond to and manage all payment disputes directly through your Stripe dashboard
- Fraudulent transactions: You bear all risk and liability for fraudulent transactions processed through your account
- Refunds: You are responsible for issuing refunds to customers when appropriate
- Negative balances: If chargebacks exceed your Stripe balance, you are responsible for covering the negative balance
Zipy (Frontier Fintech Limited) accepts no liability whatsoever for any chargebacks, disputes, fraud, or financial losses arising from payment transactions processed through your Stripe account.
5. Fees and Charges
The following fees apply to payment processing:
- Zipy Payments Addon: NZ$10/month subscription fee for access to payment processing features
- Stripe Processing Fees: Stripe's standard processing fees apply to all transactions (currently 2.7% + $0.30 per transaction for NZ cards). These fees are set by Stripe and may change
- Chargeback Fees: As described in Section 4 above
- International Transaction Fees: Additional fees may apply for international transactions as determined by Stripe
6. Your Obligations
As a payment-enabled merchant on Zipy, you agree to:
- Provide accurate and truthful business information to Stripe during onboarding
- Maintain accurate product descriptions and pricing on your website
- Fulfill all orders in a timely manner as described on your website
- Respond to customer inquiries and complaints promptly
- Comply with Stripe's Connected Account Agreement and Services Agreement
- Comply with Payment Card Industry Data Security Standards (PCI DSS)
- Not process payments for prohibited or illegal goods and services
- Maintain appropriate records of all transactions for at least 7 years
- Provide clear refund and return policies to your customers
7. Prohibited Activities
You must not use the payment processing service to:
- Process payments for illegal goods or services
- Engage in money laundering or terrorist financing
- Process fraudulent or unauthorized transactions
- Sell counterfeit goods or infringe on intellectual property rights
- Process payments on behalf of third parties without proper authorization
- Violate any Stripe prohibited business list or restricted business requirements
8. Zipy's Role and Limitation of Liability
Zipy's role is limited to:
- Providing the technology platform that connects your website to Stripe
- Facilitating the initial Stripe Connect onboarding process
- Displaying payment links and checkout functionality on your Zipy website
Zipy does not:
- Process, hold, or have access to your customer payment funds
- Guarantee any payment transaction will be successful
- Bear any responsibility for disputes between you and your customers
- Provide fraud prevention or chargeback protection services
- Act as a payment processor, bank, or financial institution
9. Indemnification
You agree to indemnify, defend, and hold harmless Frontier Fintech Limited, its directors, officers, employees, and agents from and against any and all claims, losses, damages, liabilities, costs, and expenses (including reasonable legal fees) arising from:
- Your use of the payment processing service
- Any chargebacks, disputes, or fraud related to your transactions
- Your breach of these Terms
- Your violation of any applicable law or regulation
- Any claim by a third party related to goods or services you sold
10. Data and Privacy
Regarding payment data:
- Zipy does not store credit card numbers or sensitive payment data
- All payment data is handled directly by Stripe in compliance with PCI DSS
- We may store transaction metadata (amounts, dates, product names) for your dashboard
- Your Stripe account data is governed by Stripe's Privacy Policy
11. Account Suspension and Termination
Zipy may suspend or terminate your payment processing capabilities if:
- You violate these Terms or Stripe's terms of service
- Your Stripe account is suspended or terminated by Stripe
- You have excessive chargebacks (above industry standard thresholds)
- We reasonably believe your account is being used for fraudulent activity
- Your Zipy subscription is cancelled or expires
12. Refund Policy Requirements
You must maintain a clear and accessible refund policy on your website. If you do not have a specific refund policy, the following default terms apply: Customers may request a refund within 14 days of purchase for goods not yet delivered or services not yet rendered. You must process approved refunds within 5 business days.
13. Tax Obligations
You are solely responsible for:
- Collecting and remitting all applicable taxes (including GST in New Zealand)
- Issuing tax invoices or receipts to your customers as required by law
- Reporting income from sales to the appropriate tax authorities
- Registering for GST if your turnover exceeds the NZ threshold (currently NZ$60,000)
14. Dispute Resolution
Any disputes arising from these Terms will be governed by the laws of New Zealand. You agree to first attempt to resolve any dispute through good-faith negotiation. If negotiation fails, disputes will be submitted to mediation in Auckland, New Zealand. If mediation fails, disputes will be resolved by arbitration under the Arbitration Act 1996 (NZ).
15. Changes to These Terms
We may update these Terms from time to time. We will notify you of material changes via email at least 14 days before they take effect. Continued use of the payment processing service after changes take effect constitutes acceptance of the updated Terms.
16. Contact Information
For questions about these Payment Processing Terms:
- Email: [email protected]
- Company: Frontier Fintech Limited
- Address: Auckland, New Zealand
17. Severability
If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force and effect. The unenforceable provision will be modified to the minimum extent necessary to make it enforceable while preserving its original intent.
— END OF TERMS AND CONDITIONS —
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