We may amend this Agreement at any time by posting a revised version on our website. The revised version will be effective at the time we post it. If the revised version includes a Substantial Change, we will provide you with 30 Days' prior notice of any Substantial Change by posting a notice on the "Policy Updates" page of our website. All future changes set out in the Policy Update already published on the “Legal Agreements” page of the BoldPay website at the time you register for the BoldPay Services are incorporated by reference into this Agreement and will take effect as specified in that Policy Update.
Consumer advisory - The BoldPay payment service is regarded as a stored value facility under Singapore law. BoldPay Pte. Ltd., the holder of the BoldPay stored value facility, does not require the approval of the Monetary Authority of Singapore. Consumers (Users) are advised to read these terms and conditions carefully.
This is an important document which you must consider carefully when choosing whether to use the BoldPay Services. Please note the following risks of using BoldPay Services:
Payments received in your Account may be reversed at a later time, for example, if a payment is subject to a Chargeback, Reversal, Claim or is otherwise invalidated. This means that a payment may be reversed from your Account after you have provided the sender the goods or services that were purchased.
If you are a Seller, you can lower the risk of a payment being reversed from your Account by following the criteria set out in the Seller Protection section and by following the other guidance provided in the "Security Center page" accessible via every page of the BoldPay website.
We may close, suspend, or limit your access to your Account or the BoldPay Services, and/or limit access to your funds if you violate this Agreement, the BoldPay Acceptable Use Policy, or any other agreement you enter into with BoldPay.
You are solely responsible for understanding and complying with any and all laws, rules, and regulations of your specific jurisdiction that may be applicable to you in connection with your use of the BoldPay Services, including but not limited to, those related to export or import activity, taxes or foreign currency transactions.
This Agreement is not a solicitation of the BoldPay Services and BoldPay is not targeting any country/region or market through this Agreement.
1. Payment Services and Eligibility.
1.1 Payment Services. BoldPay is a payment services provider and acts as such by creating, hosting, maintaining and providing our BoldPay Services to you via the Internet. Our services allow you to send payments to anyone with a BoldPay Account, and, where available, to receive payments. Our service availability varies by country/region. We offer services in compliance with local laws and regulations. Click here to see which services are available in your country/region of residence.
BoldPay is not a remittance business or a money transfer service and the Personal Payments feature may not be used to remit funds to third parties.
We do not have any control over, and are not responsible or liable for, the products or services that are paid for with our BoldPay Service. We cannot ensure that a buyer or a Seller you are dealing with will actually complete the transaction.
BoldPay is not a common carrier or public utility.
1.2 Eligibility. To be eligible to use the BoldPay Services, you must be at least 18 years old or higher based on the age of majority in your jurisdiction, and a resident of one of the countries listed on the BoldPay Worldwide page.
You must list your correct country/region of residence in your Account. This Agreement applies only to Users who are residents of one of the countries listed in Section 1.1 above. If you are a resident of another country/region, you may access the agreement that applies to you from our website in your country/region.
1.3 Information. In order to open and maintain an Account, you must provide us with correct and updated Information.
Your contact information. It is your responsibility to keep your primary email address up to date so that BoldPay can communicate with you electronically. You understand and agree that if BoldPay sends you an electronic Communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, BoldPay will be deemed to have provided the Communication to you effectively. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add BoldPay to your email address book so that you will be able to view the Communications we send to you.
You can update your primary email address or street address at any time by logging into the BoldPay website. If your email address becomes invalid such that electronic Communications sent to you by BoldPay are returned, BoldPay may deem your Account to be inactive, and you will not be able to transact any activity using your BoldPay Account until we receive a valid, working primary email address from you.
Identity Verification. You authorize BoldPay, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information or documentation, requiring you to provide a taxpayer or national identification number, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report or verifying your Information against third party databases or through other sources.
Credit Report Authorization. If you open a Business Account, you are providing BoldPay with your written instructions and authorization in accordance with any applicable law to obtain your personal and/or business credit report from a credit bureau. You are also authorizing BoldPay to obtain your personal and/or business credit report: (a) when you request certain new products, or (b) at any time BoldPay reasonably believes there may be an increased level of risk associated with your Business Account.
Updates to Information. If your credit card number or expiration date changes, we may update it without any action on your part and we may acquire such updated information from a third party including our financial services partner, the card networks, and your bank or card issuer. If you do not want us to update your card information, you may contact your issuer to request this or remove your Payment Method from your BoldPay Account. If we update your Payment Method, we will keep any preference setting attached to such Payment Method.
1.4 Beneficial Owner.
You must be the beneficial owner of the Account, and conduct business only on behalf of yourself.
1.5 Presentation of BoldPay
You agree to provide equal treatment to BoldPay and/or other payment methods or marks you offer at your points of sale (e.g. websites or mobile applications). This includes at least equal or substantially similar: logo placement, position within any point of sale, and treatment in terms of payment flow, terms, conditions, restrictions, or fees, in each case as compared to other marks and payment methods at your points of sale.
In representations to your customers or in public communications, you agree not to mischaracterize BoldPay as a payment method or exhibit a preference for other payment methods over BoldPay. Within all of your points of sale, you agree not to try to dissuade or inhibit your customers from using BoldPay or encourage the customer to use an alternate payment method. If you enable your customers to pay you with BoldPay, 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 BoldPay payment marks at least as prominently, and in at least as positive a manner, as you do for all other payment methods.
2. Sending Payments.
2.1 Sending Limits. We may, at our discretion, impose limits on the number of payments you can send through the BoldPay Services. You can view your sending limit, if any, by logging into your Account. If you have a Verified Account, we may increase your sending limits.
2.2 Default Payment Methods. When you make a payment, if you have not selected a Preferred Payment Method, BoldPay will fund your transaction in this order (subject to availability based on your Payment Methods and country/region of registration):
In certain countries, You may be able to nominate a Preferred Payment Method in your Account Profile or select a Preferred Payment Method each time you make a payment, except for a Preapproved Payment.
For a Preapproved Payment in these countries, you can select a Preferred Payment Method when you provide your initial authorization for this payment and through the My Preapproved Payments section of your Account Profile.
BoldPay may limit the Payment Methods available for a transaction. Some Payment Methods may not be available in certain circumstances, including:
American Express may not be available as a Payment Method for certain merchants, such as branded airlines and certain travel merchants;
Some credit cards may not be available as a Payment Method for certain merchants, such as those in the gambling industry; and
Credit cards cannot be used to send Personal Payments or to top up your BoldPay balance.
If the Preferred Payment Method fails (for example, a credit card or debit card expires) and your BoldPay account cannot complete a transaction, it may be used again to try to complete the transaction. If the Preferred Payment Method in your BoldPay account cannot complete a transaction after repeated attempts, each of the other payment methods available in your BoldPay account may be used to try to complete the transaction.
2.3 Cards as Payment Methods. By adding a debit card or credit card as a Payment Method, you are providing BoldPay with continuous authority to automatically charge that card to obtain the relevant funds when the card is used as a Payment Method pursuant to this Agreement. You can stop the continuous authority in respect of any card by removing that card as a Payment Method in your Account Profile.
2.4 Preferred Payment Method. You may select a Preferred Payment Method each time you make a payment, except for a Preapproved Payment or a No Log-In Payment.
For a Preapproved Payment and, in most instances, a No Log-In Payment, you can select a Preferred Payment Method when you provide your initial authorization for this payment and through the My Preapproved Payments section of your Account Profile.
If eCheck is your Preferred Payment Method, it will be used to fund your BoldPay payment, even if you have a balance.
2.5 Refused and Refunded Payments. When you send a payment, the recipient is not required to accept it. Any unclaimed, refunded or denied payment will be returned to your balance or to your original Payment Method. We will return any unclaimed payment to you within 30 Days of the date you initiated the payment.
2.6 Merchant Processing Delay. When you send a payment to certain Merchants, you are providing an Authorization to the Merchant to process your payment and complete the transaction. The payment will be held as pending until the Merchant processes your payment. Some Merchants may delay processing your payment. In such an instance, your Authorization will remain valid for up to 30 Days. If your payment requires a currency conversion, the exchange rate will be determined at the time the Merchant processes your payment and completes the transaction.
2.7 Preapproved Payments. A Preapproved Payment is a payment in which you Authorize a Merchant to directly charge your Account on a one-time, regular, or sporadic basis. Preapproved Payments are sometimes called "subscriptions", "recurring payments”, “preauthorized transfers” or "automatic payments". Within two (2) Business Days of any Preapproved Payment made from your Account, you will receive a confirmation of this transaction by email.
Notice for Certain Preapproved Payments. If a Preapproved Payment will vary in amount and is made using an Instant Transfer, eCheck, debit card Payment Method or your BoldPay balance, you have the right to advance notice of the amount and date of the transfer from the Merchant at least 10 Days before the transfer is made. If the Merchant provides the option, you may choose to receive this advance notice only when the amount of your Preapproved Payment will fall outside a range established between you and the Merchant. This notice is designed to protect you from having insufficient funds in your bank account to cover the Preapproved Payment.
2.8 Stopping a Preapproved Payment. You may stop a Preapproved Payment at any time up to 3 Business Days prior to the date the next payment is scheduled to be made by notifying BoldPay. To stop a Preapproved Payment, access the "My Preapproved Payments" section of your Account Profile and follow the links to stop the payment. You may also stop a Preapproved Payment by calling BoldPay at 1-402-935-2050 (in the U.S.). Once you contact BoldPay to stop a Preapproved Payment, all future payments under your agreement with the Merchant will be stopped. If you stop a Preapproved Payment you may still be liable to the Merchant for the payment or for other penalties under the terms of your agreement with the Merchant and you may be required to pay the Merchant through alternative means. We will be liable for your losses or damages directly caused by our failure to stop any Preapproved Payment if you have followed the instructions in this section to notify us.
3. Eligibility for Use.
3.1 Ability to Receive Payments. The ability to receive payments varies by country/region. To determine whether you have the ability to receive payments, click here.
3.2 Automatic Transfer Countries. If you are a resident of an Automatic Transfer Country, then you have the ability to receive payments but you must withdraw the full amount of your payment through an available withdrawal method. If you do not do so, the amounts will be automatically withdrawn from your Account to your withdrawal method on a regular basis. For additional terms regarding Automatic Transfer, please click here.
3.3 Liability for Invalidated Payments. When you receive a payment, you are liable to BoldPay for the full amount of the payment sent to you plus any Fees if the payment is later invalidated for any reason. This means that, in addition to any other liability, you will be responsible for the amount of the payment sent by the sender, plus the applicable Fees listed in Exhibit A (Fees) of this Agreement if you lose a Claim or a Chargeback, or if there is a Reversal of the payment.
You agree to allow BoldPay to recover any amounts due to BoldPay by debiting your balance. If there are insufficient funds in your balance to cover your liability, you must reimburse BoldPay through other means. If a sender of a payment files a Chargeback, the card issuer, not BoldPay, will determine who wins the Chargeback.
3.4 No Surcharges. You agree that you will not impose a surcharge or any other fee for accepting BoldPay as a payment method without our prior written consent. You may charge a handling fee in connection with the sale of goods or services, as long as the handling fee is not higher than the handling fee you charge for non-BoldPay transactions.
3.5 Receiving Personal Payments. If you are selling goods or services, you may not ask the buyer to send you a Personal Payment for the purchase.
3.6 Preapproved Payments and/or No Log-In Payments. If you receive Preapproved Payments and/or No Log-In Payments you must receive your buyer’s Authorization to the payment amount, frequency and duration prior to submitting the payment.
3.7 Micropayments for Digital Goods. To qualify to receive Micropayments for Digital Goods, you must submit an application, be approved by us, and have an Account in good standing. By applying for Micropayments for Digital Goods, you agree that for Digital Goods transactions you receive up to the amounts in the table below, then if a buyer opens a Dispute, BoldPay may reverse the transaction, and remove the funds from your Account without requiring the buyer to escalate the Dispute to a Claim.
4. Account Balances.
4.1 Balances. If you hold a balance, BoldPay will hold your funds in pooled accounts separate from its corporate funds, and it will not use your funds for its operating expenses or for any other corporate purposes. BoldPay will not voluntarily make your funds available to its creditors in the event of bankruptcy. You will not receive interest or other earnings on the amounts in your balance. BoldPay may receive interest on amounts that BoldPay holds on your behalf. You agree to assign your rights to BoldPay for any interest derived from your funds.
4.2 Setoff of Past Due Amounts. If you have a past due amount owed to BoldPay, an Affiliate, BoldPay may debit your Account to pay any amounts that are more than 30 Days past due.
4.3 Negative Balances and Multiple Currencies. If your Account has a negative balance, BoldPay may set-off the negative balance with any funds that you subsequently add or receive into your Account. If you have multiple currency balances in your Account and one of the currency balances becomes negative for any reason, BoldPay may set-off the negative balance by using funds you maintain in a different currency balance. If you open more than one Account, BoldPay may set off the negative balance in one Account by using any balance that you maintain in your other Account(s). In the event that a negative balance is offset by BoldPay pursuant to this paragraph, it may be bundled with another debit coming out of your Account.
5. Withdrawing Money.
5.2 Withdrawal Limits. Depending on the degree to which you have Verified your Account, we may limit your ability to withdraw funds until you comply with our requests for information. You can view your withdrawal limit, if any, by logging into your Account. In addition, we may delay withdrawals of large sums of money while we perform a risk review. Please see terms and conditions of the BoldPay Retiros service for information regarding the limits applicable to such service.
5.3 Withdrawal Fees. When withdrawing your balance, you will be charged a little to non depending on the method of withdrawal. In addition, if you withdraw your balance in a currency other than the currency in which the balance on your Account is denominated, you will additionally be charged Currency Conversion Fees as set out in Exhibit A (Fees).
6. Closing Your Account.
6.1 How to Close Your Account. You may close your Account at any time by following the instructions in your Account Profile. Upon Account closure, we will cancel any pending transactions and you will forfeit any balances associated with Redemption Codes, unless otherwise legally prohibited. You must withdraw your balance prior to closing your Account.
6.2 Limitations on Closing Your Account. You may not evade an investigation by closing your Account. If you close your Account while we are conducting an investigation, we may hold your funds to protect BoldPay, Affiliates or a third party against the risk of Reversals, Chargebacks, Claims, fees, fines, penalties, and other liability. You will remain liable for all obligations related to your Account even after the Account is closed.