Terms & Policies – As a high-risk payment gateway service provider, Bridge2pay have specific terms and policies that we require our merchants to adhere to in order to use our services. These terms and policies are designed to manage risk and ensure that our services are used responsibly and ethically. Below, we will provide a detailed overview of our terms and policies.
Underwriting Requirements: Our underwriting requirements are designed to assess the risk of each merchant and determine their eligibility for our services. We review a variety of factors, including the merchant’s credit history, financial stability, industry type, processing history, and any potential legal or regulatory issues. Merchants must provide accurate and complete information during the underwriting process, and we reserve the right to request additional information or documentation as needed. Merchants who do not meet our underwriting requirements may be denied access to our services.
Chargeback Management: Chargeback’s can be a significant risk for high-risk merchants, so we have policies in place to manage them effectively. We require merchants to maintain a chargeback ratio below a certain threshold, and we may monitor their chargeback activity closely. Merchants are also required to implement fraud prevention measures, respond to disputes in a timely manner, and cooperate with any investigations related to chargeback’s or other disputes.
Transaction Limits: To manage risk, we may impose transaction limits on merchants. These limits may be based on a variety of factors, including the merchant’s processing history, industry type, and the types of transactions being processed. Merchants must comply with these limits, and we reserve the right to adjust them as needed.
Reserves: We may require merchants to maintain a reserve account to cover potential chargebacks or other losses. The reserve amount and terms may vary depending on the merchant’s risk profile, and we reserve the right to adjust the reserve amount or release funds as needed. Merchants must comply with our reserve policies and ensure that they have sufficient funds available to cover any potential losses.
Fees and Rates: High-risk merchants may be subject to higher fees and rates than traditional merchants due to the increased risk associated with their business. Our fees and rates are designed to cover the costs of providing our services and managing risk. Merchants should carefully review our fee structure and ensure that they understand all fees and charges. We reserve the right to adjust our fees and rates as needed.
Compliance Requirements: High-risk merchants may be subject to a variety of legal and regulatory requirements, including PCI DSS compliance and anti-money laundering regulations. Merchants must comply with all applicable laws and regulations and provide us with any information or documentation required to demonstrate compliance. We reserve the right to terminate our services if a merchant fails to comply with applicable laws or regulations.
Termination and Holdback Policies: We may have termination and holdback policies in place to protect against losses. Merchants should carefully review these policies and ensure that they understand our procedures for terminating services or holding back funds. We may terminate services if a merchant violates our terms and policies, engages in illegal or fraudulent activity, or poses an unacceptable risk to our business. We may also hold back funds if we suspect fraud or other suspicious activity.
Prohibited Activities: We prohibit certain types of activities and transactions that are considered high-risk or illegal. These may include but are not limited to, gambling, adult entertainment, illegal drugs, and weapons. Merchants must ensure that their business activities and transactions are legal and comply with all applicable laws and regulations.
Data Security: We take data security seriously and require our merchants to comply with our data security policies. Merchants must implement appropriate security measures to protect sensitive data, such as credit card information, and must comply with all applicable data security regulations.
Intellectual Property: Merchants must ensure that they have the right to.
