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Legal Center

Payments Terms of Use

This legal agreement outlines the terms and conditions for using our payment processing services.

Last Updated: January 1, 2025

1. Introduction

These Payments Terms of Service (“Payments ToS”) govern your use of Pandabase’s payment processing services (“Payment Services”), including all features, technologies, and functionalities. By accessing and using these Payment Services, you (“Merchant”) agree to be bound by these Payments ToS, as well as the Pandabase Terms of Service, Acceptable Use Policy, and any other applicable agreements. If you do not agree with any of these terms, you must not use the Payment Services.

2. Definitions

For the purposes of this Payment ToS, the following terms shall have the meanings set forth below:

  • “Payment Services” means the suite of payment processing services provided by Pandabase, including but not limited to the facilitation of transactions, payment gateway services, and associated reporting functionalities.
  • “Transaction” means any payment between a Buyer and a Merchant facilitated by the Payment Services, including purchases, refunds, and chargebacks.
  • “Buyer” means a purchaser of goods or services from a Merchant through the Pandabase platform.
  • “Merchant” means the entity using the Pandabase Payment Services to process payments for goods or services they are offering through the Pandabase platform.
  • “Merchant Account” means the account created by the Merchant within the Pandabase system for use of the Payment Services.
  • “Cardholder Data” means any personally identifiable data associated with a payment card, such as, but not limited to, primary account numbers (PAN), card verification values (CVV), expiration dates, and cardholder names.
  • “Chargeback” means a reversal of a Transaction initiated by a Buyer or a financial institution.
  • “Refund” means the full or partial return of funds to a Buyer for a transaction previously processed through the Payment Services.
  • “Payout” means the transfer of funds to the Merchant, net of applicable fees, for successful Transactions processed through the Payment Services.
  • “Fees” means the charges associated with the use of the Payment Services, as detailed in the pricing schedule, which is located here.
  • “Payment Method” means any payment instrument supported by the Payment Services such as credit cards, debit cards, or other payment instruments.

3. Pandabase as Merchant of Record

Pandabase acts as the Merchant of Record for all Transactions processed through the Payment Services. As such, Pandabase is responsible for all financial obligations, including payment to the Merchant, chargebacks, refunds, and relevant taxes related to a transaction. The Merchant acknowledges that they are not a party to the transaction with the Buyer and have no liability with respect to financial matters with the Buyer.

4. Merchant Responsibilities

  • Account Creation: The Merchant is responsible for the creation, security, and maintenance of their Merchant Account and all activities that occur under it.
  • Compliance: The Merchant shall comply with all applicable laws, rules, and regulations, including but not limited to consumer protection laws, data privacy laws.
  • Transaction Accuracy: The Merchant is responsible for the accuracy of transaction information, including but not limited to product descriptions, pricing, and delivery terms.
  • Prohibited Transactions: The Merchant is prohibited from using the Payment Services for any transaction involving illegal or unethical goods or services as listed in the Acceptable Use Policy.
  • Chargeback Resolution: The Merchant agrees to cooperate with Pandabase in the investigation and resolution of Chargebacks.
  • Data Security: The Merchant will implement and maintain reasonable security measures to protect any data they access or process using the Payment Services and will not store any Raw Cardholder Data.

5. Payment Processing and Payouts

  • Transaction Authorization: Pandabase will authorize payment transactions through its secure payment processing channels.
  • Payout Schedule: For each successful Transaction, Pandabase will typically release funds to the Merchant’s specified bank account or other agreed-upon payment method within three to four business days of the Transaction date (“Standard Payout Period”), net of applicable Fees.
  • Verification and Holds: Pandabase may, in its sole discretion, hold funds for further verification for up to one week from the Transaction date if there are indications of unusual activity, potential fraud, or any other circumstance deemed necessary by Pandabase to ensure the integrity and security of the Payment Services.
  • Abuse Holds: Pandabase reserves the right to place a hold on a Merchant’s funds if Pandabase, in its sole discretion, identifies any activity that constitutes abuse of the platform, violation of these Terms, or any action that is deemed to be detrimental to Pandabase, its users, or the integrity of the Payment Services. This hold may be indefinite while Pandabase investigates and determines the appropriate action, which may include, but is not limited to, the return of funds to affected Buyers.
  • Fees: The Merchant agrees to pay the Fees associated with the use of the Payment Services, as detailed in the pricing schedule which is located here. Pandabase reserves the right to change fees upon notice.
  • Payouts: Pandabase will make Payouts to the Merchant’s specified bank account, net of applicable Fees, and any other outstanding charges in line with the defined Payout schedule.

6. Chargebacks and Disputes

  • Chargeback Initiation: When a Buyer initiates a Chargeback, Pandabase will place a hold on the Merchant’s balance equal to the total purchase amount of the disputed transaction plus a dispute fee of $20 (USD).
  • Dispute Fee: The dispute fee of $20 (USD) will be applied to all chargebacks, regardless of the outcome of the dispute, as this is a fee levied by the card networks and is not controlled by Pandabase.
  • Pre-Chargeback Communication: Buyers are required to attempt to resolve any issues with the Merchant directly and then with Pandabase via our dispute process before initiating a chargeback.
  • Chargeback Resolution: Pandabase will manage the Chargeback process with the card network and will make the final determination of the dispute.
  • Merchant Cooperation: The Merchant agrees to fully cooperate with Pandabase in the investigation and resolution of the Chargeback, including providing any necessary supporting documentation or information requested by Pandabase or the card network.
  • Successful Chargebacks (Buyer Wins): In the event the card network rules in favor of the Buyer, the hold on the Merchant’s funds will be adjusted as follows:
    • Pandabase will return the total purchase amount to the Buyer.
    • Pandabase will retain the $20 (USD) dispute fee.
  • Unsuccessful Chargebacks (Merchant Wins): In the event the card network rules in favor of the Merchant, the hold on the Merchant’s funds will be released and adjusted as follows:
    • Pandabase will retain the $20 (USD) dispute fee.
    • Pandabase will also retain the total purchase amount of the disputed transaction to cover costs.
  • Dispute Resolution:
    • Initial Contact: In the event of any dispute with a Product or Buyer, the Merchant agrees that the Buyer will first contact the Merchant directly to attempt to resolve the issue amicably.
    • Escalation to Pandabase: If the Buyer and Merchant are unable to resolve the dispute, the Buyer may contact Pandabase customer support for mediation. If Pandabase has not been contacted as the first port of call, Pandabase may refer the dispute back to the merchant to resolve.
    • Mediation: Pandabase will act as a mediator to assist in resolving the dispute based on available evidence provided by both the Buyer and the Merchant. Pandabase aims for a fair resolution based on the facts and the circumstances. Pandabase is not an arbitrator.
    • Resolution: Pandabase’s decision regarding any dispute is final and will be considered binding to the extent allowed by applicable law.
    • Information: Merchants may be required to provide purchase details or other information as deemed necessary by Pandabase to process the dispute.
    • Pandabase Responsibility: Pandabase will only get involved if the Merchant does not respond to the dispute within 24 hours.
  • Fraudulent Chargebacks: Pandabase reserves the right to contest chargebacks that are deemed fraudulent, abusive, or not in compliance with our terms. Merchants are responsible for any chargeback processing fees resulting from a fraudulent chargeback, should Pandabase be unable to resolve this with the buyer’s card provider. Pandabase may take legal action against any buyers that perform repeated fraudulent chargebacks.

7. Refunds

  • Eligibility for Refund: Buyers may be eligible for a full refund under the following conditions:
    • The purchased Product is defective or not as described in the product listing.
    • The Buyer requests a refund within 7 days of the initial purchase date.
    • The product is a digital product or service. In these cases, Pandabase has the right to offer a refund.
  • Refund Process:
    • The Buyer must first contact the Merchant directly to attempt to resolve the issue.
    • If the Merchant cannot provide a suitable solution within a reasonable time frame (typically 24 hours), the Buyer may contact Pandabase customer support for assistance.
    • Pandabase will investigate the issue and may request additional information or evidence.
    • If a refund is approved, Pandabase will process the refund to the Buyer’s original payment method, typically within 7-10 business days.
  • Non-Refundable Situations:
    • Refunds will not be granted if the Buyer has misused or abused the Product, including but not limited to using it in violation of the merchant’s intended usage terms.
    • Refunds will not be granted for “change of mind” or buyer’s remorse.
    • Refunds will not be granted if the Buyer fails to initiate the refund process with the merchant first.
    • Service Issues: If the product is a service and the issue is not resolved after an agreed upon time then a prorated refund will be considered for the service not provided.
    • Digital product issues: In the case of digital products that can not be returned a refund may be issued, but only if the issue cannot be resolved by the merchant in a reasonable time frame.

8. Data Privacy, Security, and Intellectual Property

  • Data Handling: The Merchant acknowledges that all transaction data is owned by Pandabase and agrees to only use the data as permitted under this Payment ToS and Pandabase Privacy Policy.
  • No Raw Card Data: The Merchant is expressly prohibited from accessing, receiving, processing, storing, or handling any Raw Cardholder Data via Pandabase.
  • Compliance: The Merchant agrees to comply with the data protection provisions as laid out in the Privacy Policy, the Data Processing Agreement and all other applicable legal documentation.
  • All intellectual property rights related to the Payment Services, including but not limited to the software, logos, design, etc., belong exclusively to Pandabase. The Merchant agrees not to infringe upon any of these rights.

9. Disclaimer of Warranties

PANDABASE PROVIDES THE PAYMENT SERVICES “AS IS” AND “AS AVAILABLE,” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED. PANDABASE EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

10. Limitation of Liability

IN NO EVENT SHALL PANDABASE BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, DATA, OR USE, ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR YOUR USE OF THE PAYMENT SERVICES. PANDABASE’S TOTAL AGGREGATE LIABILITY UNDER THESE TERMS SHALL NOT EXCEED THE AMOUNT YOU HAVE PAID PANDABASE (IF ANY) IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE LIABILITY.

11. Indemnification

The Merchant agrees to indemnify, defend, and hold harmless Pandabase and its officers, directors, employees, and agents, from and against any and all claims, damages, liabilities, losses, costs, and expenses (including reasonable attorneys’ fees) arising out of or in connection with the Merchant’s use of the Payment Services, including but not limited to any violation of these Terms or those of the Merchant’s customers using the application.

12. Termination

Pandabase may terminate this Payment ToS and the Merchant’s access to the Payment Services at any time, with or without cause and with or without notice, without liability to the Merchant. Termination of this Payment ToS does not automatically terminate other legal agreements between Pandabase and the Merchant, but will suspend access to Pandabase payment services.

13. Governing Law and Jurisdiction

These Payments ToS shall be governed by and construed in accordance with the laws of Florida, United States, without regard to its conflict of law principles. The Merchant agrees to submit to the exclusive jurisdiction of the courts located in Florida, United States for the resolution of any disputes arising under these Terms.

14. Changes to these Terms

Pandabase reserves the right to modify these Payments ToS at any time. The Merchant is responsible for checking these Payments ToS periodically for changes. The Merchant’s continued use of the Payment Services after any such changes constitutes their acceptance of the modified Payments ToS. Should the Merchant not agree with the changes, they have 14 days to inform Pandabase, and following that period Pandabase may disable their access to the Payment Services and terminate the Merchant Account.

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