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Merchant Agreement

Last updated: December 21, 2025

Scope of services

  • Tools for receiving buyer wallet payments, issuing refunds, and viewing settlement status.
  • Loyalty and campaign management, including buyer rewards and redemption controls.
  • Bank connectivity and ACH orchestration via Straddle for payouts and settlement funding.
  • Operational notifications via SMS/email for risk, settlement, and account events.

Onboarding, KYC/KYB, and verification

  • Merchants must complete KYB and provide accurate business and ownership details.
  • Straddle may perform KYB, account verification, and risk checks; Plaid may be used to verify payout accounts.
  • We may request additional documents or suspend access if verification fails or risk signals are detected.

Payments, settlement, and fees

  • Buyer payments reduce wallet balances; merchant settlements are initiated per agreed schedules.
  • Settlement timing depends on ACH clearing and bank availability; holds may be placed for risk, returns, or disputes.
  • Fees follow the mutually agreed order form or pricing schedule; taxes and bank fees are the merchant’s responsibility unless otherwise stated.

Data handling & privacy

  • We minimize data and do not retain personally identifiable data beyond what is necessary for compliance, fraud monitoring, and contractual performance.
  • Bank credentials are not stored; Plaid tokens are used for account linking. Straddle processes ACH and payout data; each maintains its own security and privacy controls.
  • Access to dashboards and APIs is role-based; merchants must manage user access and credentials for their staff.

Security, compliance, and acceptable use

  • Merchants must comply with applicable laws, NACHA rules, and card/network/ACH requirements where applicable.
  • Prohibited uses include unlawful transactions, money laundering, and high-risk prohibited goods or services.
  • We may suspend or terminate service for suspected fraud, policy violations, or legal requests.

Support, disputes, and chargebacks/returns

  • Contact support for operational issues; we will coordinate with banks, Straddle, and Plaid as necessary.
  • ACH returns and disputes follow NACHA rules; merchants must respond promptly to information requests.
  • Refunds and adjustments must be processed through VerdPay tools to ensure proper ledger and settlement handling.

Service updates and changes

  • We may update features without materially reducing core functionality; notice will be provided for material changes.
  • Continued use after notice constitutes acceptance of the updated terms.