Last updated: June 27, 2020
Welcome to Maesh and to taking back control of your payment processing fees! 🎉 This Maesh Services Agreement (“Agreement”) is entered into by and between:
Maesh Pte. Ltd. (“Maesh, “we”, “us” or “our”), and the entity or person (“merchant”, “you” or “your”) who registered on the Maesh Dashboard page to receive certain payment processing and analytics services (each, a “Service”, collectively, “Services”).
Whereas: You have a need for the Services; and We have an interest in performing the Services for you; and We wish to set forth the Terms and Conditions for your use of the Services If anything is unclear about this Agreement, do reach out to us at firstname.lastname@example.org before making use of any of the Services. By using any of our Services you agree to abide by all of the Terms and Conditions in this Agreement.
1. Data protection and Privacy
In all our Services we adhere to Singapore’s Personal Data Protection Act.
2. Dispute Resolution
If any dispute (“Dispute”) arises out of or relating to this Agreement, or to the interpretation, breach, termination or validity of this Agreement, Maesh and the merchant must use their best efforts to resolve the Dispute through consultation or mediation.
If a Dispute is not settled within 30 days, the Dispute must be referred to and resolved by arbitration in Singapore in accordance with the Rules of the Singapore International Arbitration Centre (“SIAC”). The tribunal will consist of one arbitrator, to be appointed by the President of the SIAC. The language of the arbitration will be English.
The transaction fees (“Fees”) that we charge for our services are specified on our main landing page. We reserve the right to revise our Fees at any time, but we will give prior notice to existing merchants on our platform. Our Fees are automatically deducted from the money settled to you at payout days.
Maesh is not responsible for your product or service. Any losses that may occur because of errors arising from, but not limited to, erroneous transactions, whether by misconfiguration or by faulty behavior from those you accept payments from (your “Customer”) are carried by you. We provide no warranty for any of the services we provide.
5. Payment License
Maesh has been granted an exemption by the Monetary Authority Singapore (MAS) from holding a license under the Payment Services Act for providing Merchant Acquisition Services until January 28, 2021. Maesh is allowed to continue to provide such services pursuant to the Payment Services (Exemption for Specified Period) Regulations 2019.
6. Payment Processing
Maesh offers Payment Processing Services for you to accept payments from your Customers. Even though Maesh does this through Corporate PayNow, we also accept these payments (“Transactions”) on your behalf in order to automate the reconciliation of both the payment and the order.
Unlike cards, bank transfers are irreversible. Therefore, when using Maesh as a payment gateway, you will not have to deal with chargebacks or any fines/fees associated with it. It is possible, however, that your Customer wants to return their purchased product/service and request for a refund. Currently, Maesh does not have any automated refund policy in place. In case you’d like to do a refund to your Customer and the Transaction has not been settled yet into your bank account, please reach out to us on email@example.com. Otherwise, if the payout for the said transaction has been made before the refund was requested, refunds are the responsibility of the merchant.
8. Restricted Businesses
We only allow you to use our Services if your business offers legal services/products that are sold through legitimate Transactions. Maesh reserves the right to suspend the account of any merchant that it deems not to uphold our terms in this Agreement. Businesses with business activities/practices in the following non-exhaustive list are prohibited from using any of our Services:
- Adult content/services
- Fake/Counterfeit products
- Pawn Broker
- Regulated or illegal products/services We reserve the right to update this list with any other businesses deemed inappropriate.
9. Right to Amend
We have the right to change or add to the terms of this Agreement at any time and to change, delete, discontinue, or impose conditions on use of the Services by posting such changes on our website. We will provide onboarded merchants with a notification of any changes through the Dashboard and/or via email. Your continued use of the Services after we publish any such changes on our website constitutes your acceptance of the terms of the updated Agreement. If you do not accept a change to this Agreement, you can terminate your Agreement with us by reaching out to us at firstname.lastname@example.org.
10. Services Support
We distinguish ourselves from any other services by our competitive pricing and prompt and above-and-beyond customer support. You can always reach us at email@example.com and - if you’re onboard - you may always call/ping us on the Whatsapp provided to you.
11. Settlement and Payout Schedule
To keep our Fees as low as possible, we use the GIRO payment rails to settle all outstanding amounts (“Payout”). Depending on the time of day and the day of the week, it may take between 1-5 days for the settlement to arrive in your bank account. Do note that these Payout rules are not dictated by us, but by our banking partner:
- Payouts only happen on business days (weekend days and holidays will not have payouts)
- The cut-off time for a Payout is on the next business day at 6PM
Example 1: A Transaction for your business is successful and arrives on Monday morning at 11AM. The Payout will be the next business day: Tuesday (1 day later).
Example 2: A Transaction for your business is successful and arrives on Thursday evening at 8PM. The Payout will be on the next but one business day (and after the weekend): Monday (4 days later).
Our Fees are exclusive of any applicable taxes.
It goes without saying; we are sorry to see you go, but you may terminate this Agreement at any time. We will make this process more automated - but for the time being - you can do so by reaching out to us via firstname.lastname@example.org.