Sending money

 

You can send money to a friend or family member using the send money feature in your ZenfiPay account (sometimes called “personal payments” or “peer-to-peer/P2P payments”). You can send money to a friend or family member even if they don’t have a ZenfiPay account at the time you send them money, using their email address or mobile number in any currency that ZenfiPay supports, and you can choose which payment method you want to use. If the person to whom you are sending money does not have a ZenfiPay account, they can claim it by opening a ZenfiPay account. If they don’t claim it, it will be refunded to you.

 

We may, at our discretion, impose limits on the amount of money you can send, including money you send for purchases. You can view any sending limit by logging into your ZenfiPay account.

 

When you send money to a friend or family member who has a ZenfiPay account, one of two things may happen: they may accept or decline the money. If they decline to accept the money, the money (including any fees you were charged) will be refunded to:

 

• The original payment method you used for the transaction, if you used a credit card, debit card, ZenfiPay Credit, a Balance Account, or balance in a business ZenfiPay account as the payment method, or
•  
• The balance in your business ZenfiPay account or the balance in your Balance Account linked to your personal ZenfiPay account if you used a bank account as the payment method and we cannot refund it to your bank account.
•  
• If you do not have a Balance Account linked to your personal ZenfiPay account, the money will be waiting for you to claim by using one of the available transfer methods under Receiving Funds, Holding a Balance or Transferring Funds for personal ZenfiPay accounts.

The fees applicable to sending money can be found on our Fees for Sending Money to Friends and Family page and will be disclosed to you in advance each time you initiate a transaction to send money to a friend or family member. If you convert money in your Balance Account balance or in your business ZenfiPay account balance from one currency to another before sending money, ZenfiPay’s transaction exchange rate (including our currency conversion spread) will be used. If you use your credit card as the payment method when sending money, you may also be charged a cash-advance fee by your card issuer.

 

If you send money to a friend or family member from a third party (non-ZenfiPay) website or by using a third party’s product or service, then the third party will determine if the sender or recipient pays the fee. This will be disclosed to you by the third party before the payment is initiated.

 

You can also use the send money feature in your ZenfiPay account to pay for goods or services. You will not be charged any transaction fee for sending money to purchase goods or services as long as you choose the “send money to pay for goods and services” feature in your ZenfiPay account. In that case, the seller will pay a fee. You must not use the “send money to a friend or family member” feature in your ZenfiPay account when you are paying for goods or services.

   

How to buy something or make a donation

 

You can buy something from a seller who accepts ZenfiPay or make a donation, in any currency that the recipient accepts and that ZenfiPay supports using any payment method linked to your ZenfiPay account. This includes, for example:

 

• Buying something at an online retailer’s website and selecting ZenfiPay as your payment method at checkout.
•  
• Sending money to a seller for goods or services.
•  
• Using your ZenfiPay account to buy something at a seller’s physical store using an electronic terminal, subject to certain limitations.
•  
• Using your ZenfiPay account to buy something at a seller’s physical store using your own mobile device and a QR code, subject to certain limitations.
•  
• Making donations using ZenfiPay.

 

If the seller you are buying from sells goods or services and that seller does not already have a ZenfiPay account, they can claim your payment by opening a ZenfiPay account. If they don’t open a ZenfiPay account within 30 days, your purchase will be refunded.

 

In order to manage risk, ZenfiPay may limit the payment methods available for a transaction when you buy something or make a donation. In addition, payment methods may be limited for certain sellers or recipients, including ZenfiPay payments made through certain third-party websites or applications.

 

When you authorize a payment to a seller who accepts ZenfiPay, some sellers may take up to 30 days to complete the transaction. In these instances, your payment may appear as a pending order in your ZenfiPay account. In that case, your authorization of the payment will remain valid until the seller completes the transaction (but no longer than 30 days). If you used a debit or credit card as the payment method, your debit or credit card issuer also may show a pending authorization for a period of time until they release the hold or receive a completed transaction. If your payment requires a currency conversion by us, ZenfiPay’s transaction exchange rate (including a currency conversion spread) will be used, and may be the rate at the time the payment is processed.

 

 

 

Fees

 

When you buy something from a seller who accepts ZenfiPay or make a donation, you don’t pay a fee to ZenfiPay. If ZenfiPay performs a currency conversion for your purchase or donation, ZenfiPay’s transaction exchange rate (including our currency conversion spread) will be used. Your debit or credit card issuer may also charge you a separate fee for non-U.S. transactions.

 

In addition you may be required to pay a fee to ZenfiPay if you are making a purchase using ZenfiPay Business Payments and the seller discloses to you that you, as the buyer, must pay the fee.

   

 

 

Payment review

 

When ZenfiPay identifies a potentially high-risk transaction, we review the transaction more closely before allowing it to proceed. When this happens, ZenfiPay will place a hold on the transaction and notify the seller to delay shipping of the item. As a buyer, this may delay your receipt of the item you purchased. If we clear the transaction, we will notify the seller and direct them to ship the item. If we don’t clear the transaction, we will cancel it and return the funds to you, unless we are legally required to take other action.

   

 

 

Automatic payments

 

You can agree with a seller who accepts ZenfiPay to use ZenfiPay as the payment method for future purchases with that seller. This agreement is between you and the seller and allows you to pay the seller on a one-time, recurring or sporadic basis. Examples of automatic payments that can be arranged by you either with a seller or with ZenfiPay include those that ZenfiPay calls a “billing agreement,” "subscription," "recurring payment,” “reference transaction,” "preauthorized transfer" or "preapproved payment."

 

If you have a personal ZenfiPay account, you may cancel a recurring automatic payment up to 3 Business Days before the date of the next scheduled payment from your account settings or by contacting us through the ZenfiPay Help Center, or by calling ZenfiPay at (888) 221-1161.

 

Once your automatic payment is canceled, all future automatic payments under your agreement with that seller will be stopped. If you cancel an automatic payment, you may still owe the seller money for the purchase or have additional obligations to the seller for any goods or services that you receive but have not paid for.

 

If you have given advance authorization, either to a seller or to ZenfiPay, that permits a seller to take or receive payments from your ZenfiPay account on a regularly recurring basis (for example, every month or otherwise on a routine billing cycle), and if such payments will vary in amount, you have the right to advance notice of the amount and date of the transfer from the seller at least 10 days before the transfer is made. If the seller provides the option, you may choose to receive this advance notice only when the amount of your automatic payment will fall outside a range established between you and the seller.

 

If you have authorized an automatic payment and ZenfiPay performs currency conversion for an automatic payment transaction, ZenfiPay will use the transaction exchange rate (including ZenfiPay’s currency conversion spread) in effect at the time the automatic payment transaction is processed.

   

 

 

Refunds

 

When you buy something from a seller online using ZenfiPay and the transaction is ultimately refunded, the money will typically be refunded to the original payment method you used for the transaction if you used a debit card, credit card, ZenfiPay Credit, or a balance in your Balance Account or business ZenfiPay account.

 

If you used a bank account linked to a personal ZenfiPay account as the payment method for the transaction, we will attempt to refund the money to your bank account. If we are unable to do so, we will refund the money to your linked Balance Account if you have one. If you do not have a Balance Account, the money will be waiting for you to claim by using one of the available transfer methods under Receiving Funds, Holding a Balance or Transferring Funds for personal ZenfiPay accounts.

 

If you used a bank account linked to a business ZenfiPay account as the payment method for the transaction, we will attempt to refund the money to your bank account. If we are unable to do so, we will refund the money to your balance in your business ZenfiPay account.

 

For purchases you make in a seller’s store location that you paid for using your personal ZenfiPay account and the transaction is ultimately refunded, the money will be refunded to your Balance Account if you have one. If you do not have a Balance Account, the money will be waiting for you to claim by using one of the available transfer methods under Receiving Funds, Holding a Balance or Transferring Funds for personal ZenfiPay accounts.

 

For purchases you make in a seller’s store location that you paid for using your business ZenfiPay account and the transaction is ultimately refunded, the money will be refunded to your balance in your business ZenfiPay account.

 

If you used Pay with Rewards to fund your transaction, your refund will be processed back as a dollar amount: depending on your card agreement with your issuer, your issuer may or may not credit your purchase back to your reward balance.

 

If ZenfiPay performed currency conversion for your transaction and a refund is issued:

 

• Within 1 day of the date of the original payment, ZenfiPay’s transaction exchange rate (including a currency conversion spread) used at the time of the original payment will apply.
•  
• Beyond 1 day of the date of the original payment, ZenfiPay’s transaction exchange rate (including a currency conversion spread) on the date of the refund will apply.

 

Money will be refunded in the currency you paid; or if we are unable to refund in the currency you paid, in your primary holding currency; or we are unable to refund in your primary holding currency, then in U.S. dollars.

   

Selecting a preferred payment method

 

You can choose any of the payment methods in your ZenfiPay account as your preferred payment method. You can select a preferred payment method in your account preferences on www.ZenfiPay.com or in the ZenfiPay app. There may be times when your preferred payment method cannot be used, for example, if you select a credit card that is expired.

 

You can set separate preferred payment methods for online transactions, in-store transactions, and each of your automatic payment agreements, as described below.

 

If you have chosen a preferred payment method, it will be shown as the primary method of payment.

 

If no preferred payment method, it’s still your choice.

 

The availability of certain payment methods may be limited based on that particular seller or the third-party website you are using to complete the transaction.

 

If you have not selected a preferred payment method, or your preferred payment method is unavailable, we will show you available payment methods, including the payment method you used most often or most recently, at the time of transaction. You can also click on the “Manage” link to see all of your available payment methods, or add a new one, and select a payment method during the transaction.

 

 

 

Backup payment method

 

Certain one-time online transactions may require that a backup funding method be used in the event that your selected or preferred payment method is unavailable. In those instances, the backup funding method may be displayed to you on your transaction review page, before you complete the transaction. Note that this only applies for one-time, online transactions, and not for in-store or automatic payments. If ZenfiPay determines currency conversion is necessary for a transaction that also requires a backup payment method, you may not be able to separately choose whether ZenfiPay or your card issuer performs the currency conversion on your backup payment method.

 

 

 

Sending money to friends and family

 

When you send money to friends and family within the U.S. using balance in your Balance Account linked to your personal ZenfiPay account, the balance in your business ZenfiPay account, or your bank account, we waive all fees, so we always show you these payment options first, even if you have a set preferred payment method for your online purchases. Remember, you always have the choice to select any payment method in your ZenfiPay account by clicking the “Change” link on the Send Money page. If you select a payment method with a fee, we will always show you the fee before you send money.

 

 

 

Automatic payments

 

Some sellers allow you to store ZenfiPay as the way you pay when making purchases on their site, so you can check out faster. Often, this entails creating an agreement with the seller that permits them to request that we charge your ZenfiPay account each time you make a purchase. To help minimize disruptions in your automatic payments, we may update your Payment Method information; see Link or Unlink a Payment Method.

 

When you first set up an automatic payment agreement, you may have the option to set up a preferred payment method for such agreement. You can review, set, or change a preferred payment method for an automatic payment agreement in your account settings on ZenfiPay.com.

 

Your preferred payment method for an automatic payment agreement will be used for transactions with that seller. If you have available balance in a linked Balance Account, that balance may be used before your preferred payment method.

 

If you have not set a preferred payment method for an automatic payment agreement, or if your preferred payment method for an automatic payment agreement is unavailable (for example, because it is expired or has insufficient funds) the payment method used will be in the following order, if applicable: 1. Balance Account (if one is linked to your personal ZenfiPay account) or balance in your business ZenfiPay account (if we’ve been able to verify the required identifying information you provide to us); 2. Bank account; 3. ZenfiPay co-branded debit card; 4. ZenfiPay co-branded credit card; 5. Debit card; 6. Credit card; and 7. E-check. This is also the order of payment methods that will be used if a previously selected payment method to be used in a seller agreement is unavailable.

 

 

 

Bank account transfers

 

When you use your bank account as a payment method, you are allowing ZenfiPay to initiate a transfer from your bank account to the recipient. For these transactions, ZenfiPay will make electronic transfers from your bank account in the amount you specify. You authorize ZenfiPay to try this transfer again if the initial transfer is rejected by your bank for any reason.

 

If you use your ZenfiPay account to pay for an item and you select your bank account as the funding method for the transaction, remember that your ZenfiPay account is issued to you by ZenfiPay and not your bank. The terms, benefits, and protections associated with your ZenfiPay account may vary from those that apply to your bank account. If you use your ZenfiPay account to make a purchase that exceeds the balance in your linked bank account, you could incur overdraft fees, even if you chose not to allow overdrafts with your bank. Similarly, the liability limits applicable to your ZenfiPay account may differ from those applicable to your bank account.

 

 

 

E-check

 

E-check is a payment method where you use your bank account as your payment method, and the payment is not received by the recipient until the transaction is processed from the bank. This process usually takes 3-5 Business Days, but this amount of time will increase if the payment is sent from a bank account located outside the United States.

 

 

 

Pay with Rewards

 

ZenfiPay may allow you to redeem rewards associated with your eligible card(s) when making a purchase with your ZenfiPay account through ZenfiPay’s Pay with Rewards program. ZenfiPay may share with and receive information from your issuer about your issuer accounts to complete the redemption of your rewards when using ZenfiPay’s Pay with Rewards program. The exchange of this information is necessary to complete the purchase when you select the Pay with Rewards redemption option.

 

All Pay with Rewards redemptions are subject to the terms of your card agreement with your card issuer. Pay with Rewards is only available for eligible purchases with certain merchants, and ZenfiPay or your issuer may limit, suspend, or terminate your ability to redeem rewards at any time in accordance with this user agreement and your card agreement. Your issuer determines the value of rewards redeemed through ZenfiPay and available redemption methods (e.g., to pay for your purchase or for a statement credit).

 

There may be a delay between checkout and processing of your payment. Only rewards available upon processing of your payment will be used. Because your reward balance and/or transaction balance may change, whenever you request to redeem rewards for a purchase you also authorize ZenfiPay to charge up to the full payment amount to your associated card if that happens. For more information on redeeming rewards and how it works, please see About Payment Methods.

 

 

 

Debit card processing

 

ZenfiPay will process your debit or prepaid card funded transactions through either the ATM debit network or the Visa, MasterCard or Discover network. If we process your debit or prepaid card through an ATM debit network, we may provide you with the opportunity to switch to a Visa, MasterCard or Discover network by changing your preferences for that debit or prepaid card through your ZenfiPay account profile.

If you use the ZenfiPay application on your mobile phone, you may store loyalty card numbers or bar codes, where applicable, for certain sellers in your ZenfiPay account. When you store your loyalty card numbers or bar codes in your ZenfiPay account, you will earn any rewards, subject to the seller’s loyalty card terms and conditions, at the time you make your payment to the merchant by presenting the stored loyalty card number or bar code to the seller at the point of sale. It is your responsibility to make sure you have entered your loyalty card information correctly and that you update it as necessary. It is also your responsibility to ensure that you are receiving the rewards to which you are entitled. ZenfiPay is not responsible for managing your loyalty card account by offering this service and any questions about your loyalty card or associated rewards program should be directed to the seller who offers the card.

When you buy something from a seller who accepts ZenfiPay, you may be eligible for a refund under ZenfiPay’s Purchase Protection program. When applicable, ZenfiPay’s Purchase Protection program may result in coverage for the full purchase price of the item plus the original shipping costs you paid, if any. ZenfiPay determines, in its sole discretion, whether your claim is eligible for the ZenfiPay's Purchase Protection program.

The program terms and conditions are set out in ZenfiPay’s Purchase Protection program page and form part of this user agreement. 

Receiving payments

 

If you use your ZenfiPay account to receive payments for the sale of goods or services or to receive donations, you must:

 

• Pay any applicable fees for receiving the funds.
•  
• Not ask your buyer to send you money using the “send money to a friend or family member.” If you do so, ZenfiPay may remove your ZenfiPay account’s ability to accept payments from friends or family members.

 

By integrating into your online checkout/platform any functionality intended to enable a payer without a ZenfiPay account to send a payment to your ZenfiPay account, you agree to all further terms of use of that functionality which ZenfiPay will make available to you on any page on the ZenfiPay or Braintree website (including any page for developers and our Legal Agreements page) or online platform. Such further terms include the ZenfiPay Alternative Payment Methods Agreement.

 

 

 

Receiving donation payments

 

If you use your ZenfiPay account to accept donations, including using the Generosity Network, the Donate Button, or ZenfiPay Checkout for Donations, you must: 

 

• Pay any applicable fees for receiving the funds. 
•  
• Not use Generosity Network, the Donate Button, ZenfiPay Checkout for Donations, or any other donation services for the sale of goods and services. If you do so, ZenfiPay may remove your ZenfiPay account's ability to use those services or otherwise receive donations. 

 

 

 

No surcharges

 

You agree that you will not impose a surcharge or any other fee for accepting ZenfiPay as a payment method. You may charge a handling fee in connection with the sale of goods or services as long as the handling fee does not operate as a surcharge and is not higher than the handling fee you charge for non-ZenfiPay transactions.

 

 

 

Presentation of ZenfiPay and Venmo

 

You must treat ZenfiPay and/or Venmo payment methods or marks at least on par with any other payment methods or marks offered or displayed at your points of sale where ZenfiPay or Venmo branded services are integrated, including your websites or mobile applications. This includes at least equal or better: logo placement, position within any point of sale, and treatment in terms of payment flow, terms, conditions, restrictions, and fees, in each case as compared to other marks and payment methods at your points of sale. Further, you must not present any payment method or mark upstream (or at an earlier point in the checkout experience) from the presentment of any of ZenfiPay or Venmo services or marks.

 

In representations to your customers or in public communications, you must not mischaracterize any ZenfiPay or Venmo services or exhibit a preference for other payment methods over ZenfiPay or Venmo services. Within all of your points of sale, you agree not to try to dissuade or inhibit your customers from using ZenfiPay or Venmo services or encourage the customer to use an alternate payment method. If you enable your customers to pay you with ZenfiPay or Venmo, whenever you display or exhibit the payment methods that you accept (either within any point of sale or in your marketing materials, advertising, and other customer communications) you agree to display the ZenfiPay or Venmo services payment marks at least as prominently, and in at least as positive a manner, as you do for all other payment methods.

 

 

 

Taxes and information reporting

 

Our fees do not include any taxes, levies, duties or similar governmental assessments of any nature, including, for example, value-added, sales, use or withholding taxes, assessable by any jurisdiction (collectively, “taxes”). It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is solely your responsibility to assess, collect, report and remit the correct taxes to the appropriate authority. ZenfiPay is not responsible for determining whether any taxes apply to your transaction, or for calculating, collecting, reporting or remitting taxes arising from any transaction.

 

You acknowledge that we may make certain reports to tax authorities regarding transactions that we process. For example, ZenfiPay is required to report to the Internal Revenue Service the total amount of payments for goods and services you receive each calendar year into all of your ZenfiPay accounts associated with the same tax identification number once you receive more than (i) $20,000 in payments for good and services and (ii) process more than 200 transactions involving goods or services through those ZenfiPay accounts in the same calendar year (the “Reporting Threshold”). After December 31, 2021, the Reporting Threshold will be reduced to $600 in aggregate payments for goods or services, with no minimum transaction requirement. ZenfiPay is also required to report payments for goods and services to applicable state and local governments.

 

ZenfiPay’s IRS, state, and local reporting obligations are not limited to payments you receive for goods and services transactions. If you receive other types of income (for example, proceeds from the sale of cryptocurrency), these are reportable payments by the aforementioned tax authorities, and ZenfiPay will send you any necessary forms 1099s or 1042-s. These forms will also be transmitted to the relevant tax authority.

 

 

 

Taxpayer Identification Number and Withholding Tax

 

ZenfiPay may request that you provide your tax identification number and/or a U.S. tax form such as W-9 or W-8. If you do not provide ZenfiPay the requested information and documentation, you understand and agree that you may be subject to account limitations and federal and state withholding tax at the applicable rates on all US source income payments received. ZenfiPay will send all withholding taxes to the appropriate taxing authorities and cannot refund those amounts.

 

 

 

Your customer service information, refunds and returns policy, and privacy policy

 

You must publish customer service information with clear instructions on how your customers can contact you. Such instructions must include at least: (1) one active customer service email address or active customer service URL to file tickets for assistance and/or (2) one active customer service telephone number. Such information must be readily accessible for review by your customers.

 

You must publish a refunds and returns policy.

 

You must publish a privacy policy, where required by law.

 

 

 

 

 

Payment review

 

ZenfiPay reviews certain potentially high-risk transactions. If ZenfiPay determines, in its sole discretion, that a transaction is high-risk, we place a hold on the payment and provide notice to you to delay shipping of the item. ZenfiPay will conduct a review and either complete or cancel the payment. If the payment is completed, ZenfiPay will provide notice to you to ship the item. Otherwise, ZenfiPay will cancel the payment and the funds will be returned to the buyer, unless we are legally required to take other action. All payments that complete this payment review will be eligible for ZenfiPay’s Seller Protection program if they meet ZenfiPay’s Seller Protection program requirements. We will notify you about payment reviews by email and/or through your ZenfiPay account.

 

 

 

 

 

In-store payments and QR code transactions

 

If you accept ZenfiPay payments at your physical store, you must communicate the total amount of the transaction to the customer before it takes place. You may charge your customer’s account only for transactions that they have authorized. You must also provide customers with a physical receipt if they request one. You agree that any transaction that you make shall have an accurate and true description of the goods and services being purchased.

 

If you use a QR code to accept payments in your physical store, you must use a QR code intended for goods and services transactions. You must also not use QR codes intended for in-person transactions as a method of accepting payment for goods and services transactions occurring online. For any buyer claims related to QR code transactions, you may be required to provide us with alternative evidence of delivery or such additional documentation or information relating to the transaction.

 

 

 

Marketplace sellers

 

If you’re a seller on a marketplace or through a third-party application where ZenfiPay is offered, you must comply with any rules that apply to the marketplace’s or the third-party application’s buyer protection program for sales you make through that forum. Any such protections may require you to take certain actions and may impact how claims are processed.

 

 

 

ZenfiPay Giving Fund

 

If you are a charity and hold a ZenfiPay account, you may be eligible to participate in ZenfiPay Giving Fund programs. ZenfiPay Giving Fund is a Donor Advised Fund (DAF) recognized by the Internal Revenue Service (IRS) under Section 501(c)(3) of the Code as a tax-exempt public charity (Federal Tax ID: 45-0931286). If you meet the eligibility requirements in the Nonprofit Certification Policy and are either a “Public Charity” under Section 509(a) of the Code or a "Private Operating Foundation" under IRS regulations, you may be automatically enrolled with ZenfiPay Giving Fund upon acceptance of this user agreement. You will receive an email from us confirming your enrollment. Your relationship with ZenfiPay Giving Fund will be governed by the Nonprofit User Agreement, including receiving email communications from ZenfiPay Giving Fund about its current and future partners about its programs. You can opt out of email communications at any time in your ZenfiPay Giving Fund profile. If you don’t want to be enrolled or receive donations from ZenfiPay Giving Fund, you can opt-out at any time by contacting us. For more information, please see ZenfiPay Giving Fund’s Policies.

 

 

 

Card not present transactions

 

Whenever a buyer uses a debit or credit card as the payment method for a transaction using their account to buy something from you as a seller, the transaction will be processed as a “card not present” transaction, even if the buyer is at your store location.

 

 

 

Accepting preauthorized payments

 

As a seller, you can accept payments from a buyer’s account through preauthorized transfers either on a one-time, regular or sporadic basis. This type of transaction is sometimes called a “billing agreement,” "subscription," "recurring payment,” “reference transaction,” "pre-approved payment" or "automatic payment".

        

If you receive preauthorized payments from buyers:
You must:	You must not:
Get each buyer’s prior authorization for the amount, frequency, and duration of any such payment.	Restart future payments without the buyer’s written authorization, if a buyer has stopped or canceled a preauthorized payment.
Provide a simple and easily accessible online cancelation procedure, if buyers sign up for preauthorized payments online.
Provide buyers the ability to stop any such payment up to 3 Business Days before the date scheduled for payment.
Notify the buyer at least 10 days in advance of the amount and date of each preauthorized payment if the preauthorized payment will vary from the preauthorized amount or (at the buyer’s option) any payment that is in an amount that falls outside of the pre-determined range.

Your ZenfiPay transaction fees depend on:

 

• the country of the buyer’s account or the currency of their card;
•  
• whether you are registered as a charitable organization and have active 501(c)(3) status. Your 501(c)(3) status must be documented with ZenfiPay to receive the rates applicable to charitable organizations, and those rates will apply only after you document your status with us.

   

 

 

Standard transaction fees

 

The fees you pay when selling goods or services or receiving donations, and the buyer pays using their ZenfiPay account (or using another authorized wallet), can be found on the Standard Transaction Fees table, with the fees applicable to charitable organizations founds on the Standard Transaction Fees for Charitable Organizations table for the charitable fees. Please note that:

 

• We may revise the fees applicable to future transactions that you process using ZenfiPay, subject to the applicable notice requirements set forth herein.
•  
• If you accept payments using a ZenfiPay product (like ZenfiPay Here or ZenfiPay Payments Pro), the fees applicable to those products will apply to your transactions.

 

 

  

Micropayments

 

You may apply to receive Micropayments pricing for certain lower value transactions processed through your ZenfiPay account.

 

• If your ZenfiPay account has been approved for Dynamic Micropayments (also known as Dynamic Pricing), then ZenfiPay will automatically apply either the Micropayments rate or the applicable higher value transaction rate to each transaction processed through your account based on whichever rate results in the lowest fees to you for that transaction.
   
•  
• If your ZenfiPay account has previously been approved for Static Micropayments, then all such transactions processed through your account will receive the Micropayments rate, regardless of the transaction amount. If you have multiple ZenfiPay accounts, but only some of them have been approved for Static Micropayments, then you are responsible for routing your transactions through the appropriate account to receive the desired pricing. Once a transaction is processed, ZenfiPay will have no responsibility to re-route the transaction through a different account or apply different pricing. ZenfiPay may, at its sole discretion, unilaterally convert your account from a Static Micropayments setup to the Dynamic Micropayments setup. ZenfiPay has no obligation to offer the Static Micropayments setup as an alternative to the Dynamic Micropayments setup.

 

Not all payment types are eligible for Micropayments pricing.

 

 

 

ZenfiPay Payouts

 

If you are using ZenfiPay Payouts (formerly Mass Pay), the ZenfiPay Payouts Terms and Conditions will apply.

 

 

 

Your responsibility to notify ZenfiPay of pricing or fee errors

 

Once you have access to any account statement(s) or other account activity information made available to you by ZenfiPay with respect to your business account(s), you will have sixty (60) days to notify ZenfiPay in writing of any errors or discrepancies with respect to the pricing or other fees applied by ZenfiPay. If you do not notify ZenfiPay within such timeframe, you accept such information as accurate, and ZenfiPay shall have no obligation to make any corrections, unless otherwise required by applicable law. For the purposes of this provision, such pricing or fee errors or discrepancies are different than Unauthorized Transactions and other electronic transfer Errors which are each subject to different notification timeframes as set forth in this user agreement.

General information

 

If you receive a payment for selling goods or services that is later refunded or invalidated for any reason, you are responsible for the full amount of the payment sent to you plus any fees (including any applicable chargeback fee or Dispute fee). Whenever a transaction is refunded or otherwise reversed, ZenfiPay will refund or reverse the transaction from your ZenfiPay account. If a currency conversion is necessary (for example if the balance in your Balance Account or your business ZenfiPay account for a particular currency is insufficient to cover the amount of a refund or reversal, or if the buyer paid in a different currency), ZenfiPay will perform a currency conversion in order to refund or reverse the transaction. ZenfiPay’s transaction exchange rate (including our currency conversion spread) at the time the refund or reversal is processed will be used.

 

If you refund a transaction, we’ll retain the fees you paid as set out on our Fees page.

 

 

 

Payments that are invalidated and reversed

 

Payments to you may be invalidated and reversed by ZenfiPay if:

 

• You lose a ZenfiPay Purchase Protection claim submitted to us by a buyer, including as a result of your failure to respond in a timely manner.
•  
• You lose a Venmo Protected Purchase Program claim.
•  
• Your buyer pursues a chargeback related to a card-funded transaction and the transaction is not eligible for ZenfiPay’s Seller Protection program. The card issuer, not ZenfiPay, determines whether a buyer is successful when they pursue a chargeback related to a card-funded transaction.
•  
• You do not fulfill the transaction as promised or you cannot provide proof of shipment or proof of delivery when required.
•  
• Our investigation of a bank reversal made by a buyer or the buyer’s bank finds that the transaction was fraudulent.
•  
• ZenfiPay sent the payment to you in error.
•  
• The payment was unauthorized
•  
• You received the payment for activities that violated this user agreement or any other agreement between you and ZenfiPay.

 

When you receive a payment, you are liable to ZenfiPay for the full amount of the payment sent to you plus any fees if the payment is later invalidated or reversed for any reason. If the buyer paid in another currency, the full amount of that payment may be calculated in that currency, using the ZenfiPay transaction exchange rate (including our currency conversion spread) that applies at the time the refund or reversal is processed. If the balance in your Balance Account or business ZenfiPay account doesn’t cover the payment amount due plus the fees, we may use any of the payment methods linked to your ZenfiPay account to cover the amount due. If the payment methods linked to your ZenfiPay account don’t cover the amount due, this will result in a negative balance. A negative balance represents an amount that you owe to us, and, in this situation, you must immediately add funds to your balance to resolve it. If you don’t, ZenfiPay may:

 

• engage in collection efforts to recover the amount due from you;
•  
• take any or all action as outlined under Amounts owed to ZenfiPay; or
•  
• place a limitation or take other action on your ZenfiPay account as outlined under Restricted Activities and Holds.

  

 

 

Dispute fees

 

ZenfiPay will charge a Dispute fee to sellers for facilitating the online dispute resolution process for transactions that are processed either through a buyer’s ZenfiPay account or through a ZenfiPay Guest Checkout. The Dispute fee applies when the buyer pursues a claim directly with ZenfiPay, a chargeback with their card issuer, or a reversal with their bank. The Dispute fee will be charged at either the Standard Dispute fee rate or the High Volume Dispute fee rate. The Dispute fee will be charged in the currency which you selected for the original transaction listing. If the transaction was in a currency not listed in the Dispute fee table, then the fee charged will be in your primary holding currency. The Dispute fee will be deducted from your ZenfiPay account after the claim is decided.

 

The Dispute fee amount will be determined when the dispute case is created. The fee is based on the ratio of all Item Not Received and Significantly Not as Described claims you receive compared to the total amount of your sales for the previous three calendar months. Your total claims include all Item Not Received and Significantly Not as Described claims that are filed either directly with and escalated to ZenfiPay or with the buyer’s card issuer or bank. Your total claims do not include claims for Unauthorized Transactions. For example, for the month of September, your dispute ratio will be calculated by considering your total claims to sales ratio over June, July, and August. The claims ratio for September will determine the dispute fee for all claims filed in October. Your total claims include all claims filed directly with and escalated to ZenfiPay, except claims for Unauthorized Transactions; and all chargebacks from the buyer’s card issuer or reversals from the buyer’s bank.

 

If your dispute ratio is 1.5% or more and you had more than 100 sales transactions in the previous three full calendar months, you will be charged the High Volume Dispute fee for each dispute. Otherwise, you will be charged the Standard Dispute fee for each dispute.

 

You will not be charged a Standard Dispute fee for disputes that are:

 

• Inquiries in ZenfiPay’s Resolution Center that are not escalated to a claim with ZenfiPay.
•  
• Resolved directly between you and the buyer and not escalated to a claim with ZenfiPay.
•  
• Filed by the buyer directly with ZenfiPay as an Unauthorized Transaction.
•  
• Deemed by ZenfiPay in its sole discretion to have met all the requirements under ZenfiPay’s Seller Protection program.
•  
• Claims with a transaction value that is less than twice the amount of a Standard Dispute fee.
•  
• Decided in your favor by ZenfiPay or your issuer.

 

You will not be charged a High Volume Dispute fee for disputes that are:

 

• Inquiries in ZenfiPay’s Resolution Center and not escalated to a claim with ZenfiPay.
•  
• Resolved directly between you and the buyer and not escalated to a claim with ZenfiPay.
•  
• Filed by the buyer directly with ZenfiPay as an Unauthorized Transaction.

 

Sellers charged High Volume Dispute fees may be required to provide a remediation plan which includes an explanation of the cause of the increased dispute rate, the actions taken to reduce disputes, and the timelines for those actions.

 

Disputes listed above may be excluded from being charged a Standard Dispute fee or a High Volume Dispute fee, but the claim itself may still be included in the overall calculation of your dispute ratio.

 

If you engage in a Restricted Activity, ZenfiPay may charge the High Volume Dispute fees for all current and future disputes, irrespective of your dispute ratio or sales volumes, given ZenfiPay’s increased involvement as a result of such Restricted Activity.

   

 

 

Chargeback fees

 

For transactions that are not processed either through a buyer’s ZenfiPay account or through a ZenfiPay Guest Checkout, and where the buyer pursues a chargeback for the transaction with their card issuer, then ZenfiPay will charge you a Chargeback fee for facilitating the chargeback process. This fee with apply regardless of whether the buyer is successful in pursuing the chargeback with the card issuer.

 The applicable chargeback fee will be deducted from your ZenfiPay account. The chargeback fee is applied as specified in the Chargeback Fee table and will be charged in the currency which you selected for the original transaction listing. If the transaction was in a currency not listed in the Chargeback fee table, the fee charged will be in your primary holding currency.   

 

 

Impact of various purchase protection processes on sellers

 

You should read and understand ZenfiPay’s Purchase Protection program, Venmo’s Protected Purchase Program, and if you sell goods and services to buyers with ZenfiPay accounts in countries other than your own, you also should be familiar with the purchase protection available to buyers in each of those countries. Buyers’ rights under these programs may impact you as a seller. You can find information about ZenfiPay’s protection programs on the Legal Agreements page by selecting your buyer’s location at the top of the page and referring to the corresponding user agreement. You can find information on Venmo’s Protected Purchase Program in Venmo’s user agreement.

 

If you lose a claim under ZenfiPay’s Purchase Protection program in any country, or under Venmo’s Protected Purchase Program:

 

• You must forfeit the full purchase price of the item plus the original shipping cost. This applies when you are the primary seller or a secondary seller of goods or services. For example, event ticketing agents or online travel agents will forfeit the full purchase amount paid by the buyer. In some cases, you may not receive the item back.
•  
• The Purchase Protection claim will only be considered fully resolved if:
  • the refund to a buyer is processed through ZenfiPay or Venmo, as applicable, or 
  • you provide evidence acceptable to ZenfiPay, in its sole discretion, that the buyer agreed to the alternative resolution provided. 
• You will not receive a refund of the ZenfiPay fees that you paid in connection with the sale.
•  
• If the claim was that the item received was Significantly Not as Described, you may not receive the item back, or you may be required to accept the item back and pay for the return shipping costs.
•  
• If the claim was that the item received was Significantly Not as Described and related to an item you sold that is counterfeit, you will be required to provide a full refund to the buyer and you may not receive the item back.

What’s eligible

 

If you sell a good or service to a buyer, you may be eligible for ZenfiPay’s Seller Protection program. When it applies, ZenfiPay’s Seller Protection program may result in you retaining the full purchase amount. ZenfiPay determines whether your claim is eligible for ZenfiPay’s Seller Protection program.

 

The program terms and conditions are set out in ZenfiPay’s Seller Protection program page and form part of this user agreement. 

The ZenfiPay Advertising Program enables you to promote ZenfiPay services, including ZenfiPay’s consumer credit products, through ZenfiPay-hosted banners and buttons on your websites or in your customer emails. ZenfiPay may change the content provided through this program at any time for any reason, and ZenfiPay may choose to discontinue the ZenfiPay Advertising Program at any time.

               

If you participate in this program:
You must:	You must not:
Comply with all integration requirements provided by ZenfiPay or each authorized third party, including those with respect to accurate presentation of all ZenfiPay related information.	Modify any ZenfiPay content or its presentation in any way.
Only use the code for ZenfiPay content as provided by ZenfiPay.	Copy ZenfiPay content from other websites.
Use the ZenfiPay content in its entirety with all the links and language provided by ZenfiPay and without modification by you.	Create, display or host your own ZenfiPay content, unless authorized by ZenfiPay in writing.
Immediately remove all ZenfiPay content from your sites and customer communications and/or cooperate with ZenfiPay or your third-party provider to do so, if you stop using a qualifying ZenfiPay payments solution.	Post ZenfiPay content on social media networks or platforms or anywhere else, unless authorized by ZenfiPay in writing.
Keep all ZenfiPay content current and up to date, including by cooperating with ZenfiPay to manually update the ZenfiPay content as it appears on your sites or in your communications and repair or reinstall the code to facilitate future updates.	Display any non-current ZenfiPay content.
Comply with applicable advertising laws, regulations and standards issued by governmental authorities or advertising self-regulatory bodies including but not limited to the digital advertising standards issued by the Network Advertising Initiative.

 

If you promote the use of ZenfiPay’s consumer credit products on your sites and customer communications through the ZenfiPay Advertising Program, there are additional requirements that apply. If you receive customer inquiries relating to:

 

• ZenfiPay Credit, then you must direct the customer to ZenfiPay Credit Customer Service at (844) 373-4961.
•  
• ZenfiPay, then you must direct the customer to ZenfiPay Customer Service.

 

You are responsible for any damages suffered by ZenfiPay or any third parties resulting from your failure to follow the rules of the ZenfiPay Advertising Program, and if you violate these rules, ZenfiPay may modify or remove the ZenfiPay content you are presenting or require you to remove or modify it immediately. If you fail to follow these rules, we may limit or close your ZenfiPay account.

In connection with your use of our websites, your ZenfiPay account, the ZenfiPay services, or in the course of your interactions with ZenfiPay, other ZenfiPay customers, or third parties, you must not:

 

• Breach this user agreement, the ZenfiPay Acceptable Use Policy, the Commercial Entity Agreements (if they apply to you), the ZenfiPay Balance Terms and Conditions (if it applies to you), or any other agreement between you and ZenfiPay;
•  
• Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);
•  
• Infringe ZenfiPay’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
•  
• Sell counterfeit goods;
•  
• Act in a manner that is defamatory, trade libelous, threatening or harassing;
•  
• Provide false, inaccurate or misleading information;
•  
• Send or receive what we reasonably believe to be potentially fraudulent funds;
•  
• Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;
•  
• Attempt to double dip during the course of a dispute by receiving or attempting to receive funds from both ZenfiPay and the seller, bank or card issuer for the same transaction;
•  
• Control an account that is linked to another account that has engaged in any of these restricted activities;
•  
• Conduct your business or use the ZenfiPay services in a manner that results in or may result in; 
  • complaints;
  •  
  • requests by buyers (either filed with us or card issuers) to invalidate payments made to you;
  •  
  • fees, fines, penalties or other liability or losses to ZenfiPay, other ZenfiPay customers, third parties or you;
•  
• Use your ZenfiPay account or the ZenfiPay services in a manner that ZenfiPay, Visa, MasterCard, American Express, Discover or any other electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules;
•  
• Allow your ZenfiPay account to have a negative balance;
•  
• Provide yourself a cash advance from your credit card (or help others to do so);
•  
• Access the ZenfiPay services from a country that is not included on ZenfiPay’s permitted countries list;
•  
• Take any action that imposes an unreasonable or disproportionately large load on our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf or the ZenfiPay services;
•  
• Facilitate any viruses, trojan horses, malware, worms or other computer programming routines that attempts to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorized access to any system, data, information or ZenfiPay services;
•  
• Use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our websites without our prior written permission; or use any device, software or routine to bypass our robot exclusion headers;
•  
• Interfere or disrupt or attempt to interfere with or disrupt our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf, any of the ZenfiPay services or other users’ use of any of the ZenfiPay services;
•  
• Take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers or service providers;
•  
• Use the ZenfiPay services to test credit card behaviors;
•  
• Circumvent any ZenfiPay policy or determinations about your ZenfiPay account such as temporary or indefinite suspensions or other account holds, limitations or restrictions, including, but not limited to, engaging in the following actions: attempting to open new or additional ZenfiPay account(s) when an account has a negative balance or has been restricted, suspended or otherwise limited; opening new or additional ZenfiPay accounts using information that is not your own (e.g., name, address, email address, etc.); or using someone else’s ZenfiPay account; or
•  
• Harass and/or threaten our employees, agents, or other users.
• Abuse of our online dispute resolution process and/or ZenfiPay’s Purchase Protection program and/or ZenfiPay’s Seller Protection program.

If we believe that you’ve engaged in any of these activities, we may take a number of actions to protect ZenfiPay, its customers and others at any time in our sole discretion. The actions we may take include, but are not limited to, the following:

 

• Terminating this user agreement, limiting your ZenfiPay account (and any linked Balance Account), and/or closing or suspending your ZenfiPay account (and any linked Balance Account), immediately and without penalty to us;
•  
• Refusing to provide the ZenfiPay services to you in the future;
•  
• Limiting your access to our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf, your ZenfiPay account or any of the ZenfiPay services, including limiting your ability to pay or send money with any of the payment methods linked to your ZenfiPay account, restricting your ability to send money or make withdrawals;
•  
• Holding the balance in your Balance Account, the balance in your business ZenfiPay account, or any money waiting to be claimed through your personal ZenfiPay account if you do not have a Balance Account linked to your personal ZenfiPay account, for up to 180 days if reasonably needed to protect against the risk of liability or if you have violated our Acceptable Use Policy;
•  
• Suspending your eligibility for ZenfiPay’s Purchase Protection program and/or ZenfiPay’s Seller Protection program;
  • If your eligibility is suspended, amounts you retained under ZenfiPay’s Seller Protection program in the 30 calendar days prior to your suspension may be recovered as amounts owed to ZenfiPay. These amounts constitute actual damages suffered by ZenfiPay as a result of your actions (i.e., payments that you retained at ZenfiPay’s expense that you were not otherwise entitled to), and we may debit your ZenfiPay account accordingly.
•  
• Charging the High Volume Dispute fees for all current and future disputes irrespective of your dispute ratio or sales volumes, given ZenfiPay’s increased involvement as a result of such Restricted Activity;
•  
• Contacting buyers who have purchased goods or services from you using ZenfiPay, your bank or credit card issuer, other impacted third parties, or law enforcement about your actions;
•  
• Updating inaccurate information you provided us;
•  
• Taking legal action against you;
•  
• If you’ve violated our Acceptable Use Policy, then you’re also responsible for damages to ZenfiPay caused by your violation of this policy; or
•  
• If you are a seller and receive funds for transactions that violate the Acceptable Use Policy, then in addition to being subject to the above actions you will be liable to ZenfiPay for the amount of ZenfiPay’s damages caused by your violation of the Acceptable Use Policy. You acknowledge and agree that $2,500.00 U.S. dollars per violation of the Acceptable Use Policy is presently a reasonable minimum estimate of ZenfiPay’s actual damages - including, but not limited to, internal administrative costs incurred by ZenfiPay to monitor and track violations, damage to ZenfiPay’s brand and reputation, and penalties imposed upon ZenfiPay by its business partners resulting from a user’s violation - considering all currently existing circumstances, including the relationship of the sum to the range of harm to ZenfiPay that reasonably could be anticipated because, due to the nature of the violations of the Acceptable Use Policy, actual damages would be impractical or extremely difficult to calculate. ZenfiPay may deduct such damages directly from any existing balance in any ZenfiPay account you control.

 

If we close your ZenfiPay account or terminate your use of the ZenfiPay services for any reason, we’ll provide you with notice of our actions and make any unrestricted funds held in the balance of your Balance Account linked to your personal ZenfiPay account or in the balance of your business ZenfiPay account, or any money waiting to be claimed through your personal ZenfiPay account if you do not have a Balance Account linked to your personal ZenfiPay account, available for withdrawal.

 

You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by ZenfiPay, any ZenfiPay customer, or a third party caused by or arising out of your breach of this agreement, and/or your use of the ZenfiPay services.

  

What are holds, limitations and reserves

 

Under certain circumstances, in order to protect ZenfiPay and the security and integrity of the network of buyers and sellers that use the ZenfiPay services, ZenfiPay may take account-level or transaction-level actions. Unless otherwise noted, if we take any of the actions described here, we’ll provide you with notice of our actions, but we retain the sole discretion to take these actions. To request information in connection with an account limitation, hold or reserve, you should visit the Resolution Center or follow the instructions in our email notice with respect to the limitation, hold or reserve. Account holds or limitations may impact your ability to move funds to or from your ZenfiPay Savings account.

 

Our decision about holds, limitations and reserves may be based on confidential criteria that are essential to our management of risk and the protection of ZenfiPay, our customers and/or service providers. We may use proprietary fraud and risk modeling when assessing the risk associated with your ZenfiPay account. In addition, we may be restricted by regulation or a governmental authority from disclosing certain information to you about such decisions. You agree that we have no obligation to disclose the details of our risk management or security procedures to you.

 

In order to facilitate ZenfiPay’s actions described above and allow us to assess the level of risk associated with your ZenfiPay account, you agree to cooperate with ZenfiPay’s reasonable requests for financial statements and other documentation or information in a timely fashion.

   

 

 

Holds

 

A hold is an action that ZenfiPay may take under certain circumstances either at the transaction level or the account level. When ZenfiPay places a temporary hold on a payment, the money is not available to either the sender or the recipient. ZenfiPay reviews many factors before placing a hold on a payment, including: account tenure, transaction activity, business type, past customer disputes, and overall customer satisfaction. Some common situations where ZenfiPay will hold payments include:

 

• New sellers or sellers who have limited selling activity.
•  
• Payments for higher-risk categories like electronics or tickets.
•  
• Sellers who have performance issues, or a high rate of buyer dissatisfaction or disputes.

 

Holds based on ZenfiPay’s risk decisions

 

We may place a hold on payments sent to your ZenfiPay account if, in our sole discretion, we believe that there may be a high level of risk associated with you, your ZenfiPay account, or your transactions or that placing such a hold is necessary to comply with state or federal regulatory requirements. We make decisions about whether to place a payment hold based on a number of factors, including information available to us from both internal sources and third parties. When we place a hold on a payment, the funds will appear in your ZenfiPay account with an indication that they are unavailable or pending. We’ll notify you, either through your ZenfiPay account or directly by phone or email, whenever we place a hold.

 

Risk-based holds generally remain in place for up to 21 days from the date the payment was received into your ZenfiPay account. We may release the hold earlier under certain circumstances (for example, if you’ve uploaded shipment tracking information related to the transaction), but any earlier release is at our sole discretion. The hold may last longer than 21 days if the payment is challenged as a payment that should be invalidated and reversed based on a disputed transaction as discussed in the following paragraph below. In this case, we’ll hold the payment in your ZenfiPay account until the matter is resolved (but no longer than 180 days).

 

Holds related to Marketplace transactions

 

If you’re a seller on a marketplace or through a third-party application where ZenfiPay is offered, a hold may be placed on a payment sent to you at the instruction of the applicable marketplace or third party. This is done once you have granted us permission to have your funds held and will be in accordance with your agreement with the third party. These holds will appear in your ZenfiPay account. If you have questions about why the applicable marketplace or third party instructed ZenfiPay to put these holds in place, you will need to contact the marketplace or third party directly.

 

Holds based on disputed transactions

 

If a payment sent to you as a seller is challenged as a payment that should be invalidated and reversed, we may place a temporary hold on the funds in your ZenfiPay account to cover the amount that could be reversed. Any of the situations described under Refunds, Reversals and Chargebacks are situations that could result in us placing a hold on a payment. If we determine the transaction should not be reversed, we’ll lift the temporary hold. If we determine the transaction should be reversed, we’ll remove the funds from your ZenfiPay account.

   

 

 

Account Limitations

 

Limitations are implemented to help protect ZenfiPay, buyers and sellers when we notice restricted activities, an increased financial risk, or activity that appears to us as unusual or suspicious. Limitations also help us collect information necessary for keeping your ZenfiPay account open.

 

There are several reasons why your ZenfiPay account could be limited, including:

 

• If we suspect someone could be using your ZenfiPay account without your knowledge, we’ll limit it for your protection and look into the fraudulent activity.
•  
• If your debit or credit card issuer alerts us that someone has used your card without your permission. Similarly, if your bank lets us know that there have been unauthorized transfers between your ZenfiPay account and your bank account.
•  
• In order to comply with applicable law.
•  
• If we believe in our sole discretion that you have breached this agreement or violated the Acceptable Use Policy.
•  
• Seller performance indicating your ZenfiPay account is high risk. Examples include: indications of poor selling performance because you’ve received an unusually high number of claims and chargebacks, selling an entirely new or high-cost product type, or if your typical sales volume increases rapidly.

 

Unless a permanent limitation is placed on your account, you will need to resolve any issues with your account before a limitation can be removed. Normally, this is done after you provide us with the information we request. However, if we reasonably believe a risk still exists after you have provided us that information, we may take action to protect ZenfiPay, our users, a third party, or you from reversals, fees, fines, penalties, legal and/or regulatory risks and any other liability.

 

 

 

Reserves placed on business ZenfiPay accounts

 

We may place a reserve on your business ZenfiPay account at any time if we believe there may be a high level of risk associated with you, your business ZenfiPay account, your business model, or your transactions. When we place a reserve on your business ZenfiPay account, it means that all or some portion of the money in your business ZenfiPay account is reserved as unavailable for withdrawal in order to protect against the risk of transactions made by you being reversed or invalidated or any other risk related to your business ZenfiPay account or use of the ZenfiPay services. We make decisions about whether to place a reserve based on a number of factors, including information available to us from both internal sources and from third parties.

 

ZenfiPay considers a list of non-exclusive factors and whether and how these factors have changed over time, including:

 

• How long you have been in business.
•  
• Whether your industry has a higher likelihood of chargebacks.
•  
• Your payment processing history with ZenfiPay and other providers.
•  
• Your business and/or personal credit history.
•  
• Your delivery time frames.
•  
• Whether you have higher than average number of returns, chargebacks, claims or disputes.

 

There are two categories of reserves that may be placed on your business ZenfiPay account, and one or both may be applied at the same time:

 

• A Rolling reserve is a reserve where a percentage of each transaction you receive each day is held and then released later on a scheduled basis. For example, your reserve could be set at 10% and held for a 90-day rolling period – meaning 10% of the money you receive on day 1 is held and then released on day 91, 10% of the money you receive on day 2 is held until day 92, etc. Rolling reserves are the most common type of reserve.
•  
• A Minimum reserve is a specific minimum amount of money that you’re required to keep available in the balance of your business ZenfiPay account at all times. The minimum reserve is either taken as an upfront amount deposited all at once (also known as an Upfront reserve) or is established on a rolling basis from percentages of sales until the minimum reserve is achieved, much like a rolling reserve.

 

If we place a reserve on funds in your account, the funds will be shown as "pending" and we’ll notify you of the terms of the reserve.
 If we change the terms of the reserve due to a change in our risk assessment, we’ll notify you of the new terms.

If we are notified of a court order or other legal process (including garnishment or any equivalent process) affecting you, or if we otherwise believe we are required to do so in order to comply with applicable law or regulatory requirements, we may be required to take certain actions, including holding payments to/from your ZenfiPay account, placing a reserve or limitation on your ZenfiPay account, or releasing your funds. We will decide, in our sole discretion, which action is required of us. Unless the court order, applicable law, regulatory requirement or other legal process requires otherwise, we will notify you of these actions. We do not have an obligation to contest or appeal any court order or legal process involving you or your ZenfiPay account. When we implement a hold, reserve or limitation as a result of a court order, applicable law, regulatory requirement or other legal process, the hold, reserve or limitation may remain in place longer than 180 days.

To protect yourself from unauthorized activity in your ZenfiPay account, you should regularly log into your ZenfiPay account and review your ZenfiPay account statement. ZenfiPay will notify you of each transaction by sending an email to your primary email address on file. You should review these transaction notifications to ensure that each transaction was authorized and accurately completed.

 

ZenfiPay will protect you from unauthorized activity in your ZenfiPay account. When this protection applies, ZenfiPay will cover you for the full amount of the unauthorized activity as long as you cooperate with us and follow the procedures described below.

   

 

 

What is an Unauthorized Transaction

 

An “Unauthorized Transaction” occurs when money is sent from your ZenfiPay account that you did not authorize and that did not benefit you. For example, if someone steals or fraudulently obtains your password, uses the password to access your ZenfiPay account, and sends a payment from your ZenfiPay account, an Unauthorized Transaction has occurred.

 

 

 

What is not considered an Unauthorized Transaction

 

The following are NOT considered Unauthorized Transactions:

 

• If you grant authority to someone to use your ZenfiPay account (by giving them your login information) and they exceed the authority you gave them. You are responsible for transactions made in this situation unless you have previously notified ZenfiPay that you no longer authorize transfers by that individual.
•  
• Invalidation and reversal of a payment as a result of the actions described under Refunds, Reversals and Chargebacks.

 

 

 

Reporting an Unauthorized Transaction

 

If you believe your ZenfiPay login information has been lost or stolen, please contact ZenfiPay customer service immediately or call: (888) 221-1161 or write: ZenfiPay, Attn: Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950.

 

Tell us AT ONCE if you believe that an electronic fund transfer has been made without your permission using your login information or by other means. You could lose all the money in your ZenfiPay account. If you tell us within 60 days after we provide you your ZenfiPay account statement showing transfers you did not make, you will be eligible for 100% protection for Unauthorized Transactions.

 

Also, if your ZenfiPay account statement shows transfers that you did not make, including those made with your ZenfiPay login information or by other means, tell us at once. If you do not tell us within 60 days after we provided the statement to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we may extend the time periods.

What is an Error

 

An “Error” means the following:

 

• When money is either incorrectly taken from your ZenfiPay account or incorrectly placed into your ZenfiPay account, or when a transaction is incorrectly recorded in your ZenfiPay account.
•  
• You send a payment and the incorrect amount is debited from your ZenfiPay account.
•  
• An incorrect amount is credited to your ZenfiPay account.
•  
• A transaction is missing from or not properly identified in your ZenfiPay account statement.
•  
• We make a computational or mathematical error related to your ZenfiPay account.
•  
• You request receipt or periodic statement documents that ZenfiPay is required to provide to you.
•  
• You request information concerning preauthorized (recurring) transfers to your ZenfiPay account that ZenfiPay is required to provide to you.
•  
• You request additional information or clarification concerning a transfer to or from your ZenfiPay account, including a request you make to determine whether an error has occurred.
•  
• You inquire about the status of a pending transfer to or from your ZenfiPay account.
•  
• You request documentation or other information, unless the request is for a duplicate copy for tax or other record-keeping purposes.

 

 

 

What is not considered an Error

 

The following are NOT considered Errors:

 

• If you give someone access to your ZenfiPay account (by giving them your login information) and they use your ZenfiPay account without your knowledge or permission. You are responsible for transactions made in this situation.
•  
• Invalidation and reversal of a payment as a result of the actions described under Refunds, Reversals and Chargebacks.
•  
• Routine inquiries about the balance in your Balance Account or business ZenfiPay account, or any money waiting to be claimed through your personal ZenfiPay account if you do not have a Balance Account linked to your personal ZenfiPay account.
•  
• Requests for duplicate documentation or other information for tax or other recordkeeping purposes.

 

 

 

In case of Errors or questions about your electronic transfers

 

Telephone us at (888) 221-1161, contact us through the ZenfiPay Resolution Center; or write us at ZenfiPay, Attn: Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950.

 

Notify us as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

 

• Tell us your name and account number (if any).
•  
• Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
•  
• Tell us the dollar amount of the suspected error.

 

If you tell us orally, we may require that you send us your complaint or question in writing within 10 Business Days.

 

We will determine whether an error occurred within 10 Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your ZenfiPay account within 10 Business Days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days, we may not credit your ZenfiPay account.

 

For errors involving new ZenfiPay accounts, point-of-sale transactions, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new ZenfiPay accounts, we may take up to 20 Business Days to credit your ZenfiPay account for the amount you think is in error.

 

We will tell you the results within 3 Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

We will rectify any processing error that we discover. If the error results in:

 

• You receiving less than the correct amount to which you were entitled, then we will credit your ZenfiPay account for the difference between what you should have received and what you actually received.
•  
• You receiving more than the correct amount to which you were entitled, then we will debit your ZenfiPay account for the difference between what you actually received and what you should have received.
•  
• Our not completing a transaction on time or in the correct amount, then we will be responsible to you for your losses or damages directly caused by this failure, unless: 
  • through no fault of ours, you did not have enough available funds to complete the transaction;
  •  
  • our system was not working properly and you knew about the breakdown when you started the transaction; or
  •  
  • the error was due to extraordinary circumstances outside our control (such as fire, flood or loss of Internet connection), despite our reasonable precautions.

 

Processing errors are not:

 

• Delays that result from ZenfiPay applying holds, limitations or reserves.
•  
• Delays based on a payment review.
•  
• Delays described under How to buy something related to the time it may take for a purchase transaction to be completed in some situations.
•  
• Your errors in making a transaction (for example, mistyping an amount of money that you are sending).

What is a Remittance Transfer

 

You may be protected for certain errors when you send money using a ZenfiPay account outside of the U.S. A “Remittance Transfer” is a transaction that meets the following criteria:

 

• The payment is sent from a personal ZenfiPay account that is used primarily for personal, family or household purposes,
•  
• The payment is made for personal, family or household purposes,
•  
• The payment is made using the send money feature through your ZenfiPay account,
•  
• The payment amount equals or exceeds $15 U.S dollars (excluding fees charged to you) or the foreign currency equivalent calculated using exchange rates in effect at the time of the transaction, and
•  
• The recipient of the payment has a ZenfiPay account in a country outside the U.S.

 

Payments that you make at a merchant website or location by selecting ZenfiPay as a payment option are not “Remittance Transfers.”

 

 

 

What qualifies as a Remittance Transfer Error

 

A “Remittance Transfer Error” occurs if:

 

• You paid an incorrect amount to send the Remittance Transfer. For example, you were charged more than the total shown on the remittance transfer receipt you received (unless the total shown on the receipt was an estimate, and the difference results from application of the actual exchange rate, fees, and taxes).
•  
• ZenfiPay made a computational or bookkeeping error, such as a miscalculation of the amount the recipient received.
•  
• The amount stated in the remittance transfer receipt was not made available to the recipient, unless: 
  • we stated in the remittance transfer receipt that we used estimates and the difference in the amount received and the amount stated in the remittance transfer receipt results from application of the actual exchange rate, fees, and taxes, or
  •  
  • the problem was caused by extraordinary circumstances outside our control.
•  
• Funds were available to the recipient later than the date of availability that was disclosed to you on the remittance transfer receipt or were not delivered, unless: 
  • extraordinary circumstances outside our control caused the delay, and we could not reasonably anticipate those circumstances,
  •  
  • delays resulted from fraud screenings, or were caused by requirements of the Office of Foreign Assets Controls or similar requirements, or
  •  
  • you (or someone assisting you) made the transfer with fraudulent intent.
•  
• You request documentation or information concerning the Remittance Transfer, such as information required to determine if a Remittance Transfer Error occurred.

 

 

 

What is not considered a Remittance Transfer Error

 

The following are NOT considered Remittance Transfer Errors:

 

• An inquiry about the status of a Remittance Transfer, except where the funds from the transfer were not made available to a designated recipient by the disclosed date of availability,
•  
• A request for information for tax or other recordkeeping purposes,
•  
• A change requested by the designated recipient, or
•  
• A change in the amount or type of currency received by the designated recipient from the amount or type of currency stated in the disclosure provided you, if we relied on information provided by you in making the disclosure.

 

 

 

What to do if you think there has been a Remittance Transfer Error or problem

 

If you think there has been a Remittance Transfer Error or problem with your Remittance Transfer:

 

• Call us at: (888) 221-1161.
•  
• Write us at: ZenfiPay, Attn: Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950.
•  
• Log in to your ZenfiPay account at ZenfiPay.com and go to the Resolution Center and dispute a transaction.

 

You must contact us within 180 days of the date we promised to you that funds would be made available to the recipient. When you do, please tell us:

 

• Your name, address and telephone number,
•  
• The error or problem with the transfer, and why you believe it is an error or problem,
•  
• The name of the person receiving the funds, and if you know it, his or her telephone number or address,
•  
• The dollar amount of the transfer, and
•  
• The confirmation code or number of the transaction.

 

We will determine whether an error occurred within 90 days after you contact us and we will correct any error promptly. We will tell you the results within 3 Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation.

If you provide us your mobile phone number, you agree that ZenfiPay and its affiliates may contact you at that number using autodialed or prerecorded message calls or text messages to: (i) service your ZenfiPay branded accounts, (ii) investigate or prevent fraud, or (iii) collect a debt. We will not use autodialed or prerecorded message calls or texts to contact you for marketing purposes unless we receive your prior express written consent. We may share your mobile phone number with service providers with whom we contract to assist us with the activities listed above, but we will not share your mobile phone number with third parties for their own purposes without your consent. You do not have to agree to receive autodialed or prerecorded message calls or texts to your mobile phone number in order to use and enjoy the products and services offered by ZenfiPay. You can decline to receive autodialed or prerecorded message calls or texts to your mobile phone number by updating your preferences in your ZenfiPay account settings at www.ZenfiPay.com, by contacting customer support, by calling us at 1-844-629-9108, or by replying STOP to a message. The frequency of messages may vary, and standard telephone minute and text charges may apply. Neither we nor your phone carriers are liable for delayed or undelivered messages.

 

ZenfiPay may communicate with you about your ZenfiPay account and the ZenfiPay services electronically as described in our Electronic Communications Delivery Policy. You will be considered to have received a communication from us, if it’s delivered electronically, 24 hours after the time we post it to our website or email it to you. You will be considered to have received a communication from us, if it’s delivered by mail, 3 Business Days after we send it.

 

Unless you’re communicating with us about a matter where we’ve specified another notice address (for example, our Liability for Unauthorized Transactions and Other Errors process), written notices to ZenfiPay must be sent by postal mail to: ZenfiPay, Inc., Attention: Legal Department, 2211 North First Street, San Jose, California 95131.

 

You understand and agree that, to the extent permitted by law, ZenfiPay may, without further notice or warning, monitor or record telephone conversations you or anyone acting on your behalf has with ZenfiPay or its agents for quality control and training purposes or for our own protection. You acknowledge and understand that while your communications with ZenfiPay may be overheard, monitored, or recorded not all telephone lines or calls may be recorded by ZenfiPay, and ZenfiPay does not guarantee that recordings of any particular telephone calls will be retained or retrievable.

ZenfiPay suspension and termination rights

 

ZenfiPay, in its sole discretion, reserves the right to suspend or terminate this user agreement, access to or use of its websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf or some or all of the ZenfiPay services for any reason and at any time upon notice to you and, upon termination of this user agreement, the payment to you of any unrestricted funds held in your ZenfiPay account.

 

 

 

Security interest

 

As security for the performance of your obligations under this user agreement, you grant to ZenfiPay a lien on, and security interest in and to, funds held in your ZenfiPay account.

   

 

 

Amounts owed to ZenfiPay

 

If the balance in your ZenfiPay account becomes negative for any reason, that negative balance represents an amount that you owe to ZenfiPay. ZenfiPay may deduct these amounts from funds that are added to your ZenfiPay account later, either by you or from payments you receive. If you have more than one ZenfiPay account, we may set off a negative balance in one ZenfiPay account against a balance in your other ZenfiPay account(s), including a Balance Account. If you continue using your ZenfiPay account when it has a negative balance, you authorize ZenfiPay to combine the negative balance with any debit or transaction sent from your account when that combination is disclosed to you in advance of initiating the debit or transaction.

 

If you hold funds in a ZenfiPay account in multiple currencies, and the balance for one of the currencies becomes negative for any reason, ZenfiPay may set off the negative balance by using funds you maintain in a different currency. If you have a negative balance in non-U.S. dollars for a period of 21 days or longer, ZenfiPay will convert this negative balance to U.S. dollars. In either case, a currency conversion will be necessary, and ZenfiPay’s transaction exchange rate (including our currency conversion spread) will be used.

 

In addition to the above, if you have a past due amount owed to us or our affiliates, ZenfiPay may debit your ZenfiPay account to pay any amounts that are past due.

 

 

 

Insolvency proceedings

 

If any proceeding by or against you is commenced under any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, we’ll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this user agreement.

 

 

 

Assumption of rights

 

If ZenfiPay invalidates and reverses a payment that you made to a recipient (either at your initiative or otherwise), you agree that ZenfiPay assumes your rights against the recipient and third parties related to the payment, and may pursue those rights directly or on your behalf, in ZenfiPay’s discretion.

 

 

 

No waiver

 

Our failure to act with respect to a breach of any of your obligations under this user agreement by you or others does not waive our right to act with respect to subsequent or similar breaches.

In this section, we use the term “ZenfiPay” to refer to ZenfiPay, Inc., our parent ZenfiPay Holdings, Inc., and our affiliates, and each of their respective directors, officers, employees, agents, joint venturers, service providers and suppliers. Our affiliates include each entity that we control, we are controlled by or we are under common control with.

 

 

 

Indemnification

 

You must indemnify ZenfiPay for actions related to your ZenfiPay account and your use of the ZenfiPay services. You agree to defend, indemnify and hold ZenfiPay harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party due to or arising out of your breach of this user agreement, your improper use of the ZenfiPay services, your violation of any law or the rights of a third party and/or the actions or inactions of any third party to whom you grant permissions to use your ZenfiPay account or access our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf, or any of the ZenfiPay services on your behalf.

 

 

 

Limitation of liability

 

ZenfiPay’s liability is limited with respect to your ZenfiPay account and your use of the ZenfiPay services. In no event shall ZenfiPay be liable for lost profits or any special, incidental or consequential damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf, any of the ZenfiPay services, or this user agreement (however arising, including negligence), unless and to the extent prohibited by law.

 

Our liability to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, ZenfiPay is not liable, and you agree not to hold ZenfiPay responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (1) your use of, or your inability to use, our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf, or any of the ZenfiPay services; (2) delays or disruptions in our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf and any of the ZenfiPay services; (3) viruses or other malicious software obtained by accessing our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf or any of the ZenfiPay services or any website or service linked to our websites, software or any of the ZenfiPay services; (4) glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf or any of the ZenfiPay services or in the information and graphics obtained from them; (5) the content, actions, or inactions of third parties; (6) a suspension or other action taken with respect to your ZenfiPay account; or (7) your need to modify your practices, content, or behavior, or your loss of or inability to do business, as a result of changes to this user agreement or ZenfiPay’s policies.

No warranty

 

The ZenfiPay services are provided “as-is” and without any representation or warranty, whether express, implied or statutory. ZenfiPay specifically disclaims any implied warranties of title, merchantability, fitness for a particular purpose and non-infringement.

 

ZenfiPay does not have any control over the products or services provided by sellers who accept ZenfiPay as a payment method, and ZenfiPay cannot ensure that a buyer or a seller you are dealing with will actually complete the transaction or is authorized to do so. ZenfiPay does not guarantee continuous, uninterrupted or secure access to any part of the ZenfiPay services, and operation of our websites, software, or systems (including any networks and servers used to provide any of the ZenfiPay services) operated by us or on our behalf may be interfered with by numerous factors outside of our control. ZenfiPay will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, debit cards, credit cards, and check issuances are processed in a timely manner but ZenfiPay makes no representations or warranties regarding the amount of time needed to complete processing because the ZenfiPay services are dependent upon many factors outside of our control, such as delays in the banking system or the U.S. or international mail service. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you.

 

 

 

Release of ZenfiPay

 

If you have a dispute with any other ZenfiPay account holder, you release ZenfiPay from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release you expressly waive any protections (whether statutory or otherwise, for example, California Civil Code § 1542) that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.