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Terms of Service

1. General Terms

This Terms of Service Agreement (“Agreement”) governs the relationship between the Merchant (“Merchant”) and SUNPAY USA LLC (“SUNPAY”) in connection with the Merchant’s use of the payment processing services provided. By entering into this Agreement, the Merchant agrees to the following terms and conditions:

2. Member Bank Information

  • Member Bank: Evolve Bank & Trust
  • Address: 6070 Poplar Ave Ste 200, Memphis, TN 38119-3905
  • Phone: (866) 397-2754

3. Important Bank Responsibilities

  1. Evolve Bank & Trust is the sole entity authorized to extend acceptance of Visa products directly to the Merchant.
  2. Evolve Bank & Trust is responsible for educating Merchants about Visa Operating Regulations, which the Merchant must comply with.
  3. Evolve Bank & Trust is responsible for funds held in reserve and must provide settlement funds to the Merchant.
  4. Evolve Bank & Trust must be a principal signer of the Merchant Agreement.
  5. No provision of the Merchant Agreement may limit Evolve Bank & Trust’s responsibilities.

4. Important Merchant Responsibilities

  1. Ensure compliance with cardholder data security and storage requirements.
  2. Review and understand the terms of the Merchant Agreement.
  3. Maintain fraud and chargebacks below established thresholds.
  4. Comply with all card brand operating regulations.

5. Merchant Application and Agreement Acceptance

By executing the Merchant Application, the Merchant represents and warrants that:

  1. All information provided in the Merchant Application is accurate, true, and complete.
  2. The individual executing the Application has legal authority to bind the Merchant.
  3. The Merchant will comply with all Visa, Mastercard, Discover, and other payment network regulations.
  4. The Merchant Agreement shall become effective upon approval by Evolve Bank & Trust and issuance of a Merchant Number.
  5. The term of this Agreement is three (3) years, renewable annually unless terminated by either party per the terms set forth herein.

6. Personal Guarantor

By signing, each Guarantor agrees to:

  1. Unconditionally guarantee payment and performance of all Merchant obligations under this Agreement.
  2. Be personally liable for any debts or liabilities incurred under the Merchant Agreement, including attorney’s fees and court costs.
  3. Acknowledge that liability is not limited or canceled due to bankruptcy proceedings or modifications to the Agreement.

7. Account Cancellation

  1. The Merchant may cancel their account at any time without prior notice.
  2. SUNPAY USA LLC reserves the right to cancel the Merchant’s account with 30 days’ notice.
  3. If the Merchant account is canceled, the Merchant has 30 calendar days to return the terminal provided by SUNPAY. Failure to return the terminal will result in a $500 charge.
  4. The contract is month to month, and there are no cancellation fees.

8. Equipment Provision

  1. SUNPAY USA LLC will provide the Merchant with a complimentary VL550 terminal, if that is the package they have chosen. The terminal remains the property of SUNPAY and must be returned upon cancellation or termination of the Agreement.

9. Settlement and Funding

  1. For low-risk accounts, SUNPAY USA LLC provides next business day funding.
  2. Transactions batched out before 5:30 PM EST will be deposited into the Merchant’s designated bank account the next business day.

10. Fees and Charges

  1. Merchants are responsible for all applicable rates and fees, as outlined in the Merchant Agreement and associated schedules.
  2. High-risk accounts are subject to reserves and a $24.95 monthly high-risk fee.

11. Compliance

  1. Merchants must comply with all applicable laws, regulations, and card brand requirements.
  2. Any violation of compliance standards may result in termination of the Agreement and associated penalties.

12. Amendments

SUNPAY USA LLC reserves the right to amend this Agreement with 30 days’ written notice to the Merchant. Continued use of the services after the notice period constitutes acceptance of the amended terms.

13. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State in which SUNPAY USA LLC operates.

14. Entire Agreement

This Agreement, together with the Merchant Application and any addenda, constitutes the entire understanding between the Merchant and SUNPAY USA LLC.
By entering into this Agreement, the Merchant acknowledges they have read, understood, and agreed to be bound by its terms.