Terms of service
1. Who we are
Switch Pay is a service of Verdant Payments ("Switch Pay", "we", "us"). These terms are a contract between Switch Pay and the business that opens a merchant account ("you", "merchant"). By applying for or using a Switch Pay account, the hosted checkout, the WooCommerce plugin or the API, you agree to these terms.
2. The service
Switch Pay provides payment technology that lets your shoppers pay for goods and services by sending USDC, PYUSD or Bitcoin from an app or wallet they already use to a one-time payment address. We detect the transfer, notify your store, and credit the order amount to your merchant account in USDC.
Switch Pay is a technology provider. We are not a bank, a money transmitter for your shoppers, an exchange or a custodian of shopper funds. Shoppers send funds from their own accounts and remain responsible for their own apps and wallets.
3. Eligibility and account
- You must be a legally registered business, or a sole proprietor, able to enter a binding contract.
- You must give accurate information in your application and keep it current, including your legal name, website, contact details and receiving wallet.
- We may ask for additional documents to verify your identity, business or ownership at any time, and may decline or close an account at our discretion.
- You are responsible for everyone who uses your account and for keeping your API keys, secrets and portal logins confidential.
4. Acceptable use
You may only use Switch Pay to accept payment for lawful goods and services that you actually deliver. You may not use the service for anything illegal where you or your shopper are located, for fraud, for money laundering, to evade sanctions, or for any activity we tell you in writing is not permitted. We may suspend an account while we review activity that appears to break these rules.
5. Fees
Our fees are published on the pricing page and consist of a one-time setup fee per payment option, a monthly fee per enabled payment option, a percentage transfer fee and a flat event fee per completed payment. By default the transfer fee and the event fee are added to the shopper's total at checkout. Setup and monthly fees are billed to you. We may change fees with 30 days' notice by email or in the portal.
6. Settlement and payouts
- A payment is complete when the shopper's transfer is confirmed on the relevant network for the full amount shown at checkout.
- Completed payments are credited to your merchant account in USDC (treated as one US dollar per USDC) and paid out to the receiving wallet you registered and we verified.
- You are responsible for the accuracy of your receiving wallet address. Funds sent to a wallet address you supplied cannot be recalled.
- We do not hold rolling reserves. We may delay a payout only where required by law, a court order, or a good-faith investigation of suspected fraud, and we will tell you when we do.
7. Refunds and disputes
Stablecoin and Bitcoin transfers are final. There is no card-network chargeback. Refunds to shoppers are your decision and are issued by you from the portal. Our refund policy explains how refunds, underpayments, overpayments and wrong-network transfers are handled, and forms part of these terms.
8. Your shoppers
You are responsible for your relationship with your shoppers, including your own terms of sale, delivery, customer service and refund practices. You will clearly disclose to shoppers that the transfer fee and the event fee are added to their total. You will not represent Switch Pay as the seller of your goods.
9. Compliance
You will comply with all laws that apply to your business, including tax, consumer protection, sanctions and anti-money-laundering rules. We may report activity to authorities where the law requires. We may screen payment addresses and decline transfers that are associated with sanctioned parties or illicit activity.
10. Intellectual property
Switch Pay, the wordmark, the hosted checkout, the plugin and the API are owned by Verdant Payments and its licensors. You get a limited, revocable, non-exclusive licence to use them to accept payments while you have an account. Names of third-party apps belong to their owners and are used only to identify the app a shopper chooses.
11. Disclaimers and liability
The service is provided as is. We do not guarantee that any third-party app, wallet or network will be available or will complete a transfer. To the fullest extent the law allows, Switch Pay's total liability to you for any claim in any 12-month period is limited to the fees you paid us in that period, and we are not liable for lost profits or indirect, special or consequential damages.
12. Termination
You may close your account at any time from the portal or by emailing support. We may suspend or close your account for breach of these terms, legal risk, or with 30 days' notice for any reason. Completed payments owed to you are paid out after closure, less any amounts you owe us.
13. Changes and contact
We may update these terms. We will post the new version here and, for material changes, email you at least 14 days before they take effect. Continued use after that date is acceptance. Questions: [email protected].