Merchant terms and conditions

Last Updated: November 26, 2020

This Agreement is entered into between you (the “Merchant”, “you”, “your”) and Kashing Limited, trading as Kashing (“Kashing”, “we”, “us”, “our”).

Kashing, provides a service enabling the acceptance of debit and credit card payments by mobile phone, tablet and online (the "Service"). The following are terms and conditions for the provision of the Service (the "Terms"). By registering an account with Kashing (the "Account") and by accepting the Terms, the user of the payment service (the "Merchant") and Kashing - subject to Kashing’s approval as described in detail in paragraph 4.1.5 below – shall have entered into an agreement (the "Agreement") entitling the Merchant to use the Service.

By making a declaration on a specific location in the registration, the Merchant acknowledges that the Merchant has read and agreed to the Terms and accepts that the Merchant’s rights and obligations with respect to the Service are governed by these Terms and consequently commits to adhere to them. Where applicable, the Merchant also acknowledges responsibility for ensuring that any employee of the Merchant or other person using the Service on behalf of the Merchant, have read, consent to and will adhere to these Terms. The Merchant is however fully responsible for all use of the Service related to the Account, regardless of who actually uses the Service.

1. Information about Kashing Limited

Kashing Limited is a private limited company registered in England and Wales under company registration number 08957266. Our registered office is located at Vintage House, 37 Albert Embankment, Lambeth, London, SE1 7TL. See also clause 28 for regulatory information.

Kashing Limited is registered by the Financial Conduct Authority of the United Kingdom as a small payment institution, FCA registration number 630463. Contact details of the Financial Conduct Authority can be found at FCA contact details

2. Services provided by Kashing Limited

2.1 Subject to paragraph 16.1 the Service enables the Merchant to accept payments made with debit and credit cards ("Cards") by tablet, chip & pin device (“The Chip & Pin”) and online. The Chip and Pin or tablet will process the transactions and transfer the relevant sums into the Merchant’s Kashing account. When a payment is made to the Merchant’s Kashing account, Kashing will update the account history and send a notification confirming that the payment transaction has taken place and setting out the details of the transaction.

2.2 The Merchant gains access to the Service and the Account through the Kashing’s website www.kashing.co.uk (the "Website"). The Service is used by acquiring the payment card information of the paying customer through a chip and pin device that is provided by Kashing.

2.3 Kashing may at any time revise or modify the Service. Kashing shall always attempt to notify the Merchant of any changes with reasonable notice on the Website and by email to the email address specified by the Merchant. However Kashing reserves the right to implement such changes with immediate effect to maintain the security of their systems or to comply with relevant laws, regulations or rules issued by Kashing’s designated bank or the Networks.

2.4 Kashing will deduct a fee for the Services as set out in the page of our website detailing our fees and charges (the “Fee Schedule”). The Fee Schedule is available on the following our fee schedule.

3. Conditions for and limitations to using the Service

3.1 Any usage of the Service means automatically that Merchant has read, understood and accepted the T&Cs.

3.2 By accepting the Terms the Merchant acknowledges that: (i) the Merchant - if the Merchant is a natural person -, and any person using the Service on behalf of the Merchant, is at least 18 years old, the Merchant is domiciled in the UK and (ii) the payments which are carried out through the Service are in accordance with applicable laws and regulations.

3.3. The Merchant must only use Kashing’s Services for the sale of products and services typically associated with the business activities disclosed in the application process. The Merchant must obtain our prior approval for any products or services that fall outside of such typical product or service range.

3.4 The Merchant must not use the Services fraudulently or in a way that is misleading to customers, card holders or any third party.

3.5 The Merchant shall not use the Service to receive payment for goods and services that (i) contain tobacco and are acquired through the Internet, (ii) relate to pornography, including sex clubs, escort services, prostitution, magazines, videos or images with pornographic content and sex toys in cases where such products are the only products marketed, (iii) relate to time-sharing, (iv) are prescription drugs (unless the seller has all applicable authorisations for the supply of such drugs and such supply is made in accordance with applicable laws and regulations) or narcotics, (v) relate to dating (including sex dating), (vi) are weapons, (vii) relate to gambling, betting, lotteries, bingo and other casino services (this does not apply to such gaming and lottery operations conducted in accordance with all applicable laws and authorised by all applicable regulatory authorities), (viii) relate to so-called “anonymity services”, (ix) relate to vouchers with a longer duration than 36 months, (x) relate to virtual currency, (xi) relates to erotic dance or comparable services, (xii) constitute financial services, or (xiii) are prohibited by law or, at Kashing’s sole discretion, are otherwise doubtful from a risk, complaint or reputational perspective. Kashing’s shall at its sole discretion decide whether the Merchant’s use of the Service shall be deemed attributable to any of the above products or services and therefore not in accordance with the Terms.

3.6 The Merchant shall not (i) apply a price threshold for accepting a Card, (ii) apply a higher price or additional fees for the use of a Card in connection with a payment transaction, (iii) make cash deductions during the payment transaction, (iv) carry out payment transactions in territories other than the United Kingdom and in currencies other than GBP, (v) discriminate between Cards for any reason, (vi) present for processing or credit, directly or indirectly, any payment transaction not originating from a payment transaction directly between the Merchant and a cardholder or any payment transaction that the Merchant knows or should have known to be fraudulent or not authorised by a cardholder, (vii) present for processing any payment transaction representing the refinancing of an existing obligation of a cardholder, (viii) require any cardholder to waive their right to dispute a payment transaction, (ix) require any cardholder to disclose his/her PIN at any point during a payment transaction, (x) where a cardholder uses a chip and PIN Card, print data referencing any cardholder's PIN on any receipt, or (xi) process one purchase of goods and/or services as several payment transactions.

3.7 The Merchant may not use the Service to carry out payment transactions with Cards belonging to the Merchant or registered in the Merchant’s name.

4. Registration

4.1. The Account and connection to the Service

4.1.1 In order to use the Service, the Merchant must create an Account. The Merchant is obliged to provide accurate and complete information when registering the Account. If such information changes, the Merchant agrees to promptly notify Kashing of such changes by updating its Account. If the Merchant does not provide Kashing with correct, complete and updated information, Kashing may not be able to provide the Service or otherwise fulfil the Agreement. The Merchant acknowledges that Kashing may also block the Merchant’s Account, refuse access to the Service and/or terminate the Agreement according to paragraph 22.2, if correct, complete and updated information has not been provided by the Merchant.

4.1.2 In order to verify that the Merchant is the holder of the bank account referred to in paragraph 8.1, Kashing has the right to direct necessary questions to the relevant bank in relation thereto. The Merchant acknowledges and agrees that Kashing has such right and agrees to take all reasonable measures to assist Kashing in any such matter.

4.1.3 If the actions referred to in paragraph 4.1.2 reveal, or if it otherwise becomes known to Kashing, that the information concerning the bank account referred to in paragraph 8.1 in any aspect is incorrect or incomplete, Kashing reserves the right not to pay any monies to such bank account until the information has been corrected and completed by the Merchant and thereafter verified by Kashing (in accordance with paragraph 4.1.2). For the avoidance of doubt, regardless of whether such verification has been conducted or not, Kashing assumes no responsibility for any monies which, due to incorrect or incomplete information provided by the Merchant, has been paid to a bank account which does not belong to the Merchant.

4.1.4 When the Merchant has registered for the Service and approved the Terms, Kashing will undertake a verification of the Merchant’s identity and may require the Merchant to supply such documentation and other evidence as is reasonably requested by Kashing in order for Kashing to be able to carry out, and be satisfied that it has complied with, all necessary checks in accordance with the anti-money laundering and anti-terrorism financing regulations.

4.1.5 Kashing shall determine in its sole discretion whether the Merchant should be given access to the Service. Kashing shall only be bound by the Terms after it has decided to give the Merchant access to the Service.

4.1.6 Once verified, Kashing will assign a merchant category to the Merchant according to the business or activity carried on. This will also be used to determine certain thresholds, such as maximum transaction amount, and frequency of transactions that are regarded as typical for that type of business or activity. The Merchant will be notified of the relevant thresholds applicable to them and the Merchant will only be able to accept payment transactions up to defined limits (the “Merchant Transaction Limits”). The Merchant must promptly inform us of any material change to the business activity.

4.1.7 In the event that, in any one week, the Merchant reaches the Merchant Transaction Limits, the Merchant will not be able to accept any further card payments. Kashing will notify the Merchant prior to the Merchant Transaction Limits being reached. In exceptional circumstances and on a case by case basis, Kashing may, in our sole discretion, increase the Merchant Transaction Limits.

4.1.8 The technical requirements for the Merchant's mobile phone or tablet, as dictated by Kashing, are stated on the Website. It is not allowed to use the Service together with a mobile phone or tablet whose technological measures have been circumvented, e.g. by so-called root or jailbreak.

4.1.9 The Merchant’s ability to access the Service by mobile phone or tablet is dependent on services received by the Merchant from a third party. Such third parties may charge the Merchant for access to the Service (e.g. for access to, and transfer of data on, the Internet). The Merchant shall be solely responsible for payment of such fees. The Merchant's use of the Service may also be subject to the terms of the Merchant’s agreement with its supplier of mobile telephone services.

4.1.10 The Merchant may cancel this Agreement in writing at any time within fourteen days, beginning on the day after the Agreement has been entered into according to these Terms. If the Merchant validly cancels this Agreement as above, Kashing will process any refund due to the Merchant within 30 days of the day on which the Merchant gave Kashing notice of cancellation. In this case, Kashing will refund any amount paid in relation to the Services in full. Kashing will usually refund any money received from the Merchant using the same method originally used by the Merchant to pay for the Service. Kashing will, however, not be obliged to refund to the Merchant any fee paid for any transactions effected using the Service before cancellation.

4.2 Password requirements and protection of login data etc.

4.2.1 The Merchant shall follow Kashing’s procedures and safety instructions, as may be amended or updated from time to time, with regard to the Merchant’s password and other login information, which can be found on the Website.

4.2.2 It is the Merchant’s responsibility to ensure that the Merchant’s account number, password and other login information for the Service ("Account Information"), are kept secure and that such information shall not be disclosed to others. The Merchant agrees to keep Account Information secure so that the Service remains inaccessible to unauthorised persons. The Account Information is personal and must not be transferred or used by anyone other than the Merchant.

4.2.3 Kashing assumes that the Merchant is the sender of payment orders and other instructions when sent using the Merchant’s login information and password. The Merchant must therefore immediately either inform Kashing promptly through the Website or change the login information, if there is reason to believe that an unauthorised person has had access to, or knowledge of such information.

4.2.4 Kashing does not warrant that the Services will be compatible with the Merchant’s mobile device or third party carrier.

5. The Chip&PIN and Application

5.1 Installation of The Chip&PIN and the Application

5.1.1 To install The Chip&PIN and the Application the Merchant should follow the instructions described in the Download and Installation Manual available on Kashing Website

5.1.2 Kashing will sell the Merchant a suitable Chip&PIN at a purchase price determined by us from time to time or as published on our website.

5.1.3 The Merchant is not allowed to sell, rent, license or transfer the Chip&PIN to a third party or allow use of the Chip&PIN by a third party. The Merchant is also not allowed to modify the software or the hardware of the Card Reader in any way. The Merchant must not use the Card Reader for any purpose other than effecting payment transactions through the installed version of the Application.

5.2.4 At Kashing’s request, the Merchant must return the Chip&PIN to Kashing, either upon termination or expiry of this Agreement or to replace an existing Chip&PIN. If the Merchant terminates the Agreement, the Merchant must return the Chip&PIN at their own cost. If the Merchant has purchased the Chip&PIN, the Merchant is obliged to transfer ownership back to us.

5.1.5 Kashing will refund the purchase price of the Chip&PIN if required by law or a refund agreed. Kashing may charge a handling fee for processing returns of Card Readers or refunding the purchase price (see our refund policy). If the Chip&PIN is returned in used condition, Kashing may refuse to refund the purchase price.

6. The Merchant’s obligations regarding the use of the Service

6.1 The Merchant shall inform Kashing of the addresses of all their offices and places of business, all trade names used, and a complete description of the products and services provided by the Merchant. If such information changes, the Merchant agrees to promptly notify Kashing of such changes by updating the Merchant’s Account. If any information is inaccurate or incomplete, Kashing has the right to terminate the Account and cancel the Merchant’s access to the Service.

6.2 The Merchant shall at all times comply with applicable law and shall, upon Kashing’s request, provide such reasonable assistance which is necessary in order for Kashing to comply with applicable law, rules issued by Kashing’s designated bank or the Networks and other obligations imposed on Kashing. The Merchant further agrees to abide by any guidelines related to the Service provided by Kashing from time to time.

6.3 The Merchant shall indemnify Kashing from any and all claims raised by a third party against Kashing resulting from the Merchant’s use of the Service in breach of the Terms, applicable laws or regulations, or the rules issued or otherwise applied by Kashing’s designated bank or the Networks.

6.4 The Merchant shall immediately notify Kashing of any insolvency proceeding, receivership, bankruptcy, examination or similar action or proceeding initiated against the Merchant or any owner of the Merchant. The Merchant shall also immediately notify Kashing if the Merchant becomes aware of any violation of law related to this Agreement or the Service.

6.5 The Merchant warrants that all payment transactions are bona fide.

7. License

7.1 Kashing grants to the Merchant a non-exclusive, non-transferable licence to use the Application and the right to use any other of Kashing’s software and Internet-based services required to use the Service. Kashing grants the Merchant the right to download and install updates to the Service as made available to the Merchant by Kashing from time to time.

7.2 The Merchant shall not (i) assign, sub-licence, copy, publish or distribute the Service, (ii) allow third parties to use the Service, (iii) assign the rights that the Merchant has acquired under the Terms, or (iv) circumvent any of the technical limitations of the Service, or decompile or otherwise reconstruct the Service save only to the extent and circumstances permitted by mandatory law.

8. Account

8.1 Funds credited to the Merchant shall be paid out to a bank account designated by the Merchant in accordance with paragraph 18 below.

8.2 Funds that Kashing has received on behalf of the Merchant in respect of the moneys credited to the Merchant’s Account may be mixed together with the funds so held for other Merchants and may be held in one or more client accounts in a bank or banks selected for this purpose by Kashing.

9. Dormant accounts

9.1 If there has been no activity on a Merchant’s Account for at least two consecutive years and a balance is held on the Client Accounts for the Merchant, Kashing will notify the Merchant of this by email to the email address registered by the Merchant and/or through the Application and give the Merchant an opportunity to keep the Account active or to close it and request the withdrawal of any outstanding balance that is held on the Client Accounts. If the Merchant’s response is not received by Kashing within thirty days from the date of dispatch, Kashing will automatically close the Account and the Merchant’s funds will be subject to the applicable law and to the extent so permitted shall accrue to Kashing.

10. Payment terms

10.1 Use of the Service is subject to certain fees as listed on the Website as updated on the Website, by email and/or post from time to time. The Services are as payment services exempt from VAT. Kashing has the right to amend fees in accordance with paragraph 27 below.

10.2 Kashing is entitled to set off the outstanding balance on the Merchant’s Account against any claims that Kashing may have against the Merchant subject to this Agreement.

10.3 All fees shall be charged to the Merchant in conjunction with the transfer of the amount from Kashing’s Client Accounts to the Merchant’s bank account, in accordance with paragraph 18 below.

11. Exchange rates

11.1 From time to time applicable exchange rates for payments made in currencies other than GBP shall be listed on the Website. The Merchant shall, before each payment transaction is completed inform the customer that a currency conversion will occur and of the applicable exchange rate.

12. Provision of the Service

12.1 Kashing shall use its reasonable endeavours to provide the Service 24 hours a day, seven days a week. Kashing does not however warrant that the Service shall be free from errors or interruptions during this time.

12.2 From time to time Kashing will perform maintenance and upgrades of the Service, which may result in interruptions, delays or errors in the Service. Kashing shall try to communicate any planned maintenance in advance, but cannot guarantee that such notification will always be provided. In addition, the Service may contain errors or "bugs" that may lead to interruptions and errors. The Merchant understands this and accepts that Kashing may contact the Merchant in order to help the Merchant with the Service and also to request information needed to identify and remedy such errors.

12.3 The Merchant’s access to the Service is dependent on third-party services (such as mobile telephony services). The Merchant accepts that Kashing shall have no responsibility for the performance of such third-party services.

13. Complaints and the obligation to notify unauthorised transactions

13.1 If the Merchant (i) wishes to identify errors in the Service for the basis of a complaint or (ii) considers that a mistake has been made or that there has been an unauthorised transaction related to the Merchant’s Account, the Merchant must notify Kashing of such complaint or transaction without delay after the Merchant has discovered, or should have discovered the error or transaction, by contacting Kashing through the Website

14. Kashing’s liability for the Service

14.1 Kashing is liable, subject to the limitations set out in paragraph 15 below, to ensure that the payment transactions carried out through the Service are executed properly, that payment orders initiated using the Service are properly transferred to the cardholder’s payment services provider and that funds credited to the Merchant are paid to the Merchant as further described in paragraph 18, unless otherwise as set out in this Agreement. If a payment transaction is not executed properly or executed at all, Kashing shall, upon request from the Merchant, use reasonable endeavours to trace the payment transaction and notify the Merchant of the result.

14.2 Kashing is furthermore liable for fees and/or interest, which if the Merchant is a consumer, must pay due to a payment transaction not having been executed properly or executed at all, provided that such event is a result of Kashing’s fault. If the Merchant is not a consumer, Kashing shall have no such liability.

14.3 Kashing shall not be liable for (i) any other deficiencies or errors in or under the performance of the Service (including those set out in paragraph 12.1), (ii) ensuring that the Service is available at all times to carry out payment transactions, or (iii) unauthorised access to or use of Account Information stored on Kashing’s servers, unless otherwise provided as a matter of mandatory law.

14.4 In the event Kashing becomes aware that an unauthorised person has, or has had, access to Account Information stored on Kashing's servers, Kashing shall inform the affected Merchant of this and, to the extent possible, provide details of what information has been disclosed.

15. Disclaimer

15.1 Subject always to paragraph 15.2, Kashing is not, under any circumstances, liable for indirect damages, loss of profit, loss of data or any other losses resulting from the use or non-use of the Service.15.2 Notwithstanding paragraph 15.1, Kashing shall be liable for death or personal injury caused by Kashing, damages incurred by the Merchant due to Kashing’s intent or gross negligence, fraud or fraudulent misrepresentation, losses for which it is prohibited by section 7 of the Consumer Protection Act 1987 to limit liability or any other matter for which it would be illegal or unlawful for Kashing to exclude or attempt to exclude liability.

15.2 Still subject to the above, Kashing shall only be liable for damages due to Kashing’s own fault and assumes no liability for any acts or omissions by any third parties. Furthermore, Kashing shall in no event be liable for any damages or loss incurred by the Merchant as a result of Kashing’s obligation to comply with applicable law, any act or omission of any governmental authority, act of war, accident, natural disaster, strike, blockade, or other similar event, regardless of if Kashing is an instigator or subject of such event.

16. Processing payment transactions

16.1. Accepting payments from credit cards etc.

16.1.1 As part of the Service, payment transactions can only be carried out with the Cards specified on the Website. The range of Cards that are accepted can be changed at any time and without prior notice. The Merchant shall accept all Cards specified on the Website for any of the full range of goods and/or services that it supplies.

16.1.2 If any Card is not equipped with an EMV chip (so-called EMV chip technology), the Merchant may, depending on the functionality of the device used by the Merchant for the Service, have to enter the required information relating to the Card manually.

16.2 Verifications in connection with a payment transaction

16.2.1 When using the Services for a transaction and provided that the Payment Card presented to the Merchant supports PIN, the Merchant must first ensure that the PIN is entered for verification purposes.

16.2.2 When using the Services for a transaction requiring a signature, the Merchant shall compare the cardholder’s signature on the signature receipt with the signature on the Card and, where appropriate, on the form of identification produced by the cardholder. In cases of doubt in this regard, the Card shall not be accepted as a means of payment.

16.2.3 In addition, the Merchant shall, by visual inspection ensure that (i) the Card has not expired, (ii) the account number embossed on the Card matches the account number appearing on the Card’s reverse side, (iii) the Card bears the signature of the cardholder and that such signature matches any signature made by the cardholder on the screen of the device used for the Service, (iv) the Card does not bear traces of modifications or otherwise look tampered with, (v) the Card information such as gender of the cardholder name is consistent with the Merchant’s observation, and that (vi), when identification card/document is presented, the name embossed on the Card is the same as on the cardholders identification card/document. In cases of doubt in the above regard, the Card shall not be accepted as means of payment.

16.3 Approval of the payment transaction

16.3.1 The Merchant must ensure that the cardholder accepts the payment transaction and that the amount is deducted from the cardholder's account by signing the electronic signature receipt with his/her name at the specified place in the Application, unless the Application prompts the use of PIN.

16.3.2 When processing transactions, the Merchant must submit the full amount of the invoiced goods/service as one transaction. If the transaction is declined, the Merchant cannot split the transaction into smaller amounts. Please note that the card issuer retains the right to issue a chargeback if the Merchant splits a transaction. Splitting transactions can result in the Merchant’s funds being withheld and the merchant account terminated.

16.4 Receipts

16.4.1 The Merchant shall upon request from a cardholder provide such cardholder with a written receipt concerning a performed payment transaction.

16.5. Confirmations of transactions

16.5.1 When a payment is made to the Merchant’s Kashing account, Kashing will update the account history and send a notification confirming that the payment transaction has taken place and setting out the details of the transaction:

a reference number to identify payment transactions made during the relevant month and, where appropriate, the customer and information transferred with the payment transaction;
the amount of the payment transactions made during the relevant month, shown in the currency in which your account is denominated;
the amount and breakdown of the transaction charges in respect of the transactions made during the relevant month; and
the credit value date.

17. Refunds to cardholders

17.1 The Merchant should only process a refund where:

the total transaction amount is being refunded (i.e. The Merchant cannot refund partial transaction amounts);
the refund is initiated within 21 days from the date of the transaction to which the refund relates; and
the card used by the cardholder to make the transaction is still valid.

17.2 The Merchant shall (i) maintain fair rules for the return and cancellation of products or services and regulation of Card payments, (ii) hand out the Merchant’s rules on returns and cancellations to the customers at the time of purchase, (iii) not reimburse a customer with cash and (iv) not accept cash incentives or other consideration to facilitate a reimbursement.

17.3 If the Merchant agrees to replace a product and the replacement gives rise to a difference in purchase price, the Merchant must reimburse the total amount for the returned products and register a new purchase for the new products.

17.4 To process a refund the Merchant must select the relevant transaction to be refunded in the transaction history, which is accessible through the transaction history tab on the Kashing application. After selecting the relevant transaction, press the refund button. This action will constitute consent to the transaction being refunded. This action cannot be revoked if a refund has been received by Kashing.

17.5 The refund will be received by the recipient’s payment service provider (e.g. the card issuer) after three business day after Kashing received the refund order. By “business day” Kashing means normal business hours on any day between Monday and Friday (inclusive) but not including bank holidays or other public holidays in the UK. Authorisations not received on a business day will be deemed to have been received on the next business day.

18. Payments to the Merchant’s bank account

18.1 The Merchant must at all times maintain a bank account into which Kashing can pay funds for successfully processed transactions (“Settlement Account”). The Merchant must inform Kashing immediately of any changes or closure of the Settlement Account no later than 7 business days prior to the change and the Merchant is solely responsible for the proper operation and maintenance of the Settlement Account in the event of any changes. Changes to the Settlement Account will require Kashing to re-perform the verification and identification process. Should the verification process fail, Kashing has the right to terminate the agreement. The Merchant shall indemnify Kashing against all losses arising out of failure to do so. The Merchant are solely responsible for the operation of Settlement Account and the payment of any fees associated with Settlement Account.

18.2 If required by Kashing, the Merchant must provide Kashing a direct debit mandate over the Settlement Account for debiting amounts owed by the Merchant to Kashing.

18.3 Funds credited to the Merchant for a payment transaction will not be paid to the Merchant’s bank account until the transaction is deemed completed. A payment transaction will, for the purpose hereof, be deemed completed when Kashing has received the funds on the Client Accounts. Once Kashing has verified the Merchant’s bank account, Kashing will automatically initiate a payment to the Merchant’s bank account on the business day immediately following the business day on which Kashing has received the funds on the Client Accounts, unless otherwise as set out in this Agreement. Depending on the type of card reader used, whether the Card information has been retrieved through the use of a card reader or entered manually and whether the Merchant's customer has approved the payment transaction by signature or pin, payments to the Merchant’s bank account will vary according to the timeframes and limits communicated to the Merchant from time to time. Information regarding the applicable timeframes and limits can be found through the Application or on the Website. Through the Application, the Merchant will be informed of initiated payments to the Merchant’s bank account.

18.4 Kashing reserves the right to withhold funds received and credited to the Merchant to the extent necessary for Kashing to complete any on-going investigation or to resolve an on-going dispute or if required by law or by court order or otherwise requested by an applicable law enforcement authority or other governmental entity.

19. Chargebacks and disputed transactions

19.1 Within certain time limits determined by law, transactions may be reversed through a process called chargeback (“Chargeback”) if such transaction:

is disputed in any way (including in relation to the non-supply of the goods or services supplied or their failure to meet required standards),
for any reason is reversed by the relevant Network, designated bank, the cardholder or the card issuer,
is not authorised or Kashing have reason to believe that the transaction is not authorised, or
is alleged to be illegal, questionable or in violation of the Terms or rules from the designated bank or the Networks. The Merchant shall not resubmit or reprocess any payment transaction that has been the subject of a Chargeback.

19.2 For each transaction which Kashing receives a Chargeback request, Kashing has the right to deduct the amount of the Chargeback and any associated fees, fines, or penalties from:

any settlement proceeds due to the Merchant, and/or
any reserve Kashing hold, and/or
Settlement Account.

19.3 If there are insufficient funds held for the Merchant in the Client Accounts to cover any Chargeback, the Merchant shall immediately reimburse Kashing for the amount of the Chargeback (including Kashing’s expenses associated with the Chargeback).

19.4 If Kashing consider that Chargebacks related to the Merchant’s Account are too frequent, Kashing reserves the right to conduct inspections or impose conditions to govern the Account and the Service, including establishing new fees for the processing of transactions, asking for a reasonable reserve amount to cover future potential Chargebacks and related fees or fines, limiting the right of the Merchant to claim monies held for it from the Client Accounts and terminating the Agreement and terminating the Service.

19.5 If Kashing considers, in reasonable discretion, that a transaction may be subject to a Chargeback, Kashing may withhold the amount of such potential Chargeback (including any associated fees or fines) until Kashing can reasonably assess if such Chargeback will occur or not. If Kashing assess that a Chargeback is based on a justified complaint from one of the Merchant’s customers, Kashing will retain the funds. If the period of time under which a customer may dispute a transaction according to applicable law has expired, or if Kashing determine that a Chargeback on the transaction will not occur, we will release the funds for regular settlement.

19.6 Where Kashing have reason to believe that any transaction processed through our Services was fraudulent, Kashing may suspend the Services until such time as the situation has been resolved to satisfaction.

19.7 The Merchant agrees, at Kashing’s request, to provide reasonable assistance in relation to any disputed payment transactions, including the verification of any transactions carried out through the Service. Kashing may also request necessary information from the Merchant in order to dispute the Chargebacks.

19.8 The Merchant hereby indemnifies Kashing for any and all costs, losses and liability which it may incur as a result of any claims made against it arising from provision of the Service, including, but not limited to, any claims relating to defects in the products or services purchased with Cards processed by Kashing.

20. Card and data security standards

20.1 The Merchant shall handle Card information in accordance with the standards and guidelines that are issued by Payment Card Industry Security Standards Council (PCI Council) whose data security standards and policies (the “PCI Standards”) can be found at PCI Security Standards Website

20.2 It is the Merchant’s responsibility and obligation by accepting Payment Cards to determine which PCI Standards are applicable to their business. Based on the information Kashing holds on the Merchant, Kashing may recommend that the Merchant take certain actions in order to become compliant with relevant PCI Standards, however, recommendations shall not constitute legal or compliance advice and Kashing shall not be liable to the Merchant for the accuracy of any recommendations given.

20.3 Upon request, the Merchant must demonstrate how it complies with applicable PCI Standards and must provide sufficient documentary, organisational or technological evidence of your compliance, including but not limited to a completion of a PCI assessment or self-assessment questionnaire. The Merchant must at all times adhere to any instruction given by Kashing with regards to compliance with PCI Standards.

20.4 For the business typically undertaken by our merchants there are currently no direct fees associated with the certification of compliance with PCI Standards, however, this may not apply to the Merchant’s particular circumstances and the Merchant should carefully check the applicable PCI Standards and associated certification procedures. Kashing also cannot guarantee that any currently free certification procedure will remain free of charge. The cost of compliance with applicable PCI Standards and any associated fees shall be borne by the Merchant.

20.5 Further to the privacy policy, the Merchant acknowledges and agrees that Kashing may disclose any information provided to Kashing or its designated bank to the Networks, for the purpose of determining the identity of an individual, including cardholders, in accordance with the rules issued by the Networks and as permitted by applicable law.

21. Feedback on the Service

21.1 The Merchant can submit feedback or ideas about the Service online selecting from a drop box menu or directly to Kashing’s Customer Service Centre. Kashing is not required to implement such feedback and ideas. The Merchant has no right to compensation for the feedback and ideas presented, but Kashing may freely use them and assimilate all rights pertaining to these.

22. Term and termination

22.1 The Agreement is in force until further notice. The Merchant may at any time terminate the Agreement and terminate the Merchant’s Account with immediate effect by informing Kashing through the Website. Kashing has the right to terminate the Agreement subject to a notice period of two months, subject to paragraph 22.2.

22.2 Kashing have the right to block the Merchant’s Account, refuse the Merchant access to the Service and/or terminate the Agreement immediately if (i) it comes to Kashing’s attention or Kashing otherwise has reasonable grounds to believe, that the Merchant uses or will use the Service in violation of the Terms or any applicable law or regulation or the rules of Kashing’s designated bank or the Networks, (ii) information relating to technical or administrative routines for data security has been revealed so that there are reasonable grounds to believe that the Merchant’s Account will be abused, (iii) there are other reasonable grounds to believe that the Merchant’s Account has been abused or will be abused, (iv) the Merchant withdraws its consent to the processing of Personal Data, (v) if a personal guarantee is not issued upon Kashing’s request and in accordance with paragraph 30.1, (vi) if the Merchant’s annual card transaction volume on MasterCard and VISA branded Cards exceeds the equivalent of 100,000 USD for MasterCard or 100,000 USD for Visa or 150,000 USD for both MasterCard and VISA (or equivalent amount in the currency in which your account is denominated) (vii) if the Merchant fails to provide correct, complete and up-to-date information in relation to the Account.

22.3 Upon expiration of the Agreement Kashing shall, unless otherwise set out in these Terms, account for any funds kept separate on behalf of the Merchant after the deduction of any potential fees. Upon expiration, the Merchant shall no longer be entitled to use the Service and the licence granted shall expire.

23. Charges and Fees

23.1 In consideration of Kashing’s provision of the Services to the Merchant, the Merchant agrees to pay the fees set out in the Pricing Schedule available on Kashing’s website

23.2 Kashing will send the Merchant electronic invoices for any fees charged. By entering into this Agreement, the Merchant consents to that Kashing may send electronic invoices. Kashing will not send paper invoices.

23.3 Kashing reserves the right to amend the Pricing Schedule. The Merchant will be notified of such amendments no later than two months before the date upon which the amendments are to take effect. The changes will be notified to the Merchant through a message within the Kashing Application. Should the Merchant not wish to accept any such change to the terms, the Merchant is entitled to terminate the Agreement. To continue the use of the Services following notification of the changes shall be deemed to be an acknowledgement of acceptance of the amended fees.

23.4 All fees stated on the website are exclusive of VAT. If VAT is or becomes chargeable in respect of all or any of the amounts payable to us under this Agreement agreed that the Merchant will, upon receipt of a valid VAT invoice, pay to Kashing VAT at the applicable rate in respect of the relevant supply of goods or services by Kashing.

24. Notices and information

24.1 Written notices from Kashing to the Merchant will be in English and sent by email to the email address specified by the Merchant or through the Application. A notice that has been sent to the Merchant in this manner shall be deemed to have been received by the Merchant no later than the following day.

25. Transfer

25.1 The Merchant shall not transfer any rights or obligations in connection with the Service or the Merchant’s Account to a third party without Kashing’s written consent. Kashing has the right to fully or partially transfer Kashing’s rights under the Agreement to another party without the consent of the Merchant.

26. Additions and amendments

26.1 Kashing has the right, from time to time, to make additions and amendments to the Terms. Such amendments will be in English. If the Merchant does not accept the amendments or additions so advised to it, the Merchant is entitled to terminate the Terms as set out in paragraph 22. If the Merchant has not informed Kashing that the Merchant does not accept proposed amendments or additions before the date of their entry into force, the Merchant is deemed to have accepted them. For the avoidance of doubt, if the Merchant is not a consumer, amendments or additions shall enter into force immediately.

26.2 Kashing shall always have the right to immediately adopt amendments (including price changes) required by law, regulation or authority decision or by regulations and rules issued by Kashing’s designated bank or the Networks.

27. Disputes and conflicts

27.1 This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) are governed by English law.

27.2 Kashing Limited is a small payment institution registered by the Financial Conduct Authority of the United Kingdom (the “FCA”) with FCA License number 630463. The address of the FCA is: 25 The North Colonnade, Canary Wharf, London E14 5HS, United Kingdom. They can be reached by telephone on (+44) 20 7066 1000 or via its website at www.fca.org.uk.

27.3 In case a dispute or complaint cannot be resolved satisfactory, the Merchant may bring a complaint before the UK Financial Ombudsman Service. The Merchant may contact the Financial Ombudsman Service by writing to The Financial Ombudsman Service, Exchange Tower, London, E14 9SR or by calling 0800 023 4567 (from the UK) or +44 20 7964 0500 (international). Information can also be found on their website at www.financial-ombudsman.org.uk.

28. Entire Agreement

28.1 This Agreement constitutes the entire agreement between the parties in relation to its subject matter. It replaces and extinguishes all prior agreements, draft agreements, arrangements, collateral warranties, collateral contracts, statements, assurances, representations and undertakings of any nature made by or on behalf of the parties, whether oral or written, in relation to that subject matter.

28.2 Each party acknowledges that in entering into this Agreement it has not relied upon any oral or written statements, collateral or other warranties, assurances, representations or undertakings which were made by or on behalf of the other party in relation to the subject-matter of this Agreement at any time before its signature (together “Pre-Contractual Statements”), other than those which are set out in this Agreement.

28.3 Each party hereby waives all rights and remedies which might otherwise be available to it in relation to such Pre-Contractual Statements.

28.4 Nothing in this paragraph shall exclude or restrict the liability of either party arising out of its pre-contract fraudulent misrepresentation or fraudulent concealment.

29. Third party websites

29.1 The Website may contain links or directions to websites which are not operated by Kashing. Kashing does not control and assumes no responsibility for any content of such websites. The Merchant is fully responsible for its use of such websites and is therefore advised to carefully read any terms and conditions and policies concerning data protection and secrecy which may be applicable.

30. Third Party Rights

30.1 A person who is not party to these Terms shall not have any rights under or in connection with them under the Contracts (Rights of Third Parties) Act 1999.