Terms of Service

Last Update : 14 May 2021

This document shall become legally binding to you upon marking "Accept Terms of Service" checkbox and clicking "Create Account" button. If you have doubts on anything in this document, please contact us. If you do not agree with any term of service mentioned herein the document, please do not mark your acceptance to it by checking the box and do not create the account. You should be aware that there can be substantial risk of loss in Virtual Assets/ Cryptocurrencies as the value of them goes up and down regularly. iPint payment services is one of the businesses supported by Bitfia- a registered entity in Singapore. Bitfia has not yet applied for 'Payment Services Act 2020' but shall be doing so in near future and we may alter certain terms in future. You should carefully consider whether dealing in cryptocurrencies is suitable for you by considering your financial status.

These Terms of Service ("the Terms") govern your use of the products, services or any other features, technologies, platforms or functionalities, websites, mobile services, API, software tools or any other means (collectively the "Services") provided by iPint - a business supported by Bitfia Labs Pte Ltd. 33 Rochester Drive, #24-11, The Rochester Residences, Singapore 138638 (iPint, we, our or us). The terms "you" and "your" refer to the both Merchant as well as Payment Service Providers (PSP) in such cases where Merchants are using services via them, to which we will be providing the Services and the person signing below or otherwise agreeing to the Terms on behalf of the Merchant and/or PSP. Please read the Terms carefully, by using the Services, you agree to the Terms and confirm that you accept them.

iPint reserves the right to modify these 'Terms of Services' at any time. The most current version, and therefore the active Terms of Service, is always available on our website www.ipint.io. If we change these Terms substantially, we will notify you via e-mail. However, it is always your responsibility to check these Terms when using our Services and that you agree with its content.

1. iPint Service

iPint provides a payment service which allows Merchants to accept cryptocurrency payments or deposits with an option to receive payouts in stable Virtual currencies or in Fiat currencies. The payout currency option is decided by the Merchant in their account setting. Our Services are available only to businesses that sell a product or services or to registered charitable organizations that accept donations. We do not provide any financial services and/or other services.

By using the Services, you authorize us to act as your agent so we may receive, hold and disburse funds on your behalf and to take any and all actions that we think are necessary to provide the Services and to comply with applicable law. Payment or deposit by Your Client to iPint will be considered the same as payment made directly to you and will extinguish their outstanding obligation, to the extent of the payment or deposit

The refund option, wherever available in iPint, is not to be used for any other purpose other than to conduct refunds of specific payments back to Your Clients who made the payment. Any other use of the refund option, will cause a suspension or termination of the account in question.

2. Definitions

The definitions shall apply in these Terms as follows:

2.1 Account / Merchant Account / PSP Account means Merchant or Payment Service Provider's virtual interface within the iPint that is intended for their use of our Services. Account is accessible via our website by using the registration email and password (if applicable, one-time password or two factor authentication as well) to login.

2.2 AML/CFT means all applicable laws in relation to anti-money laundering and combating the financing of terrorism

2.3 AML/CFT Policy means the policy that sets out the main principles and guidelines towards compliance with AML/CFT.

2.4 Business Day means a day, indicated on our Website, when we provide our Services.

2.5 Fees or Service Fee means the fees we will charge you for the provision of the Services.

2.6 Fiat or Fiat currency means a currency which in accordance with valid laws is a legal tender.

2.7 Terms or Terms of Service means these Terms and all annexes thereof under which the Parties agree on the terms and conditions of the provision of Services. In case other agreements are concluded between you and iPint with respect to the provision of Services after these Terms are concluded, those subsequent agreements (including individual agreements for the provision of Services) shall be considered as an integral part of these Terms.

2.8 Merchant means a person or an entity which offers products and/or services for sale in Virtual currencies for business purposes or bona fide charitable organizations that accept donations in Virtual currencies.

2.9 Party or Parties individually means any of us and together means you and us.

2.10 Privacy Policy means the document that sets out the main provisions of how, when and under what conditions we process your personal data.

2.11 Risk Warning means the document that sets out the main risks the Client may face while using our Services.

2.12 Virtual currency (also known as cryptocurrency, virtual assets, digital currency or crypto - terms being used interchangeably) means a digital representation of value that can be digitally traded, or transferred using a blockchain, and can be used for payment purposes. Virtual currency do not include plain digital representations of Fiat currencies, securities and other corresponding financial assets.

2.13 Website means our website ipint.io including all its sub-domains.

2.14 Working Hours means a time period, indicated on our Website, when we provide our Services.

2.15 Your Client (also known as Shopper or Purchaser or Depositor or Customer) means a natural or legal person having a monetary obligation towards you under a transaction concluded and intending discharge of such obligation by paying in a Virtual currency. In case you are a charitable organization, Your Client means a natural or legal person providing you with a donation(s) in a Virtual Asset

2.16 Payment Service Provider or PSP or Aggregator or Payment Processor are entities that offer payment solutions to merchants which include electronic bill presentment / payment and accepting instructions through the internet in respect of payments to be made by the Customers for various products and services. Many of these entities offer acquiring bank services by entering into agreements with banks, financial institutions and other payment solution providers including prepaid/cash card providers to offer various facilities through the internet, including Net Banking facilities and providing authorization (from third party clearing house networks) and settlement facilities in respect of payment instructions initiated by the Customers.

2.17 Stablecoin or Stable virtual currency is a cryptocurrency that attempts to offer price stability and is backed by a reserve asset. Stablecoins peg their market value to something more stable such as fiat currencies like the USD or to a commodity's price such as gold. There are three categories of Stablecoins, all based on their working mechanism. They are Fiat-Collateralized Stablecoins like USDT, TUSD or USDC, Crypto-Collateralized Stablecoins like DAI and Algorithmic Stablecoins.

3. iPint Merchant Registration Process

3.1 iPint Merchant Account

To use iPint Payment Services, a Merchant has to open an iPint account.

To open the account you need to provide your contact information such as your name, your organization's legal name, phone number, email address, country of residence, kind of business you are, legal status of your business, your industry, your registered business address and information relating to the ultimate beneficial owner. We will also ask for information of your company's website. The information that you provide at the time of account opening must be accurate and complete. We may require additional information from you (including any person signing below or otherwise agreeing to the Terms on behalf of the Merchant) to help verify your identity and assess your business risk, such as your date of birth.

Payment Service Provider will also provide the information as mentioned hereinabove to create a PSP Account. They will also facilitate opening of their merchants' accounts by providing the above information.

We may also obtain information about you from third parties, such as credit bureaus and identity verification services. We have the right to reject your account registration or to later close your iPint account, if you do not provide us with accurate, complete, and satisfactory information.

3.2 Merchant Tiers

iPint has 3 levels of verification depending on daily/yearly transaction volume you have. Upon registering in iPint and successful verification of the information provided by you, you will automatically be assigned Silver Tier. Silver Tier provides you a daily limit of USD 100 and yearly limit of USD 1000. However, to move up in the tiers, you need to provide us with the documentation necessary to qualify for that Tier.

The next level is Gold Tier which provides you with a daily limit of USD 5,000 and yearly limit of USD 500,000. The documentation necessary to qualify for this tier are -

All documents/images must be either jpg/jpeg, png or pdf files under 5 MB in size. They must be in English and any translation must be notarized.

Next level is Platinum Tier which provides you with a daily limit of USD 50,000 and yearly limit of USD 5,000,000. The documentation necessary to qualify for this tier are all the documentation required for Gold Tier as mentioned above with 3 months of Bank Statements of the Organization.

Next level is Platinum Tier which provides you with a daily limit of USD 50000 and yearly limit of USD 5,000,000. The documentation necessary to qualify for this tier are -

For certain industries, iPint may ask for additional verification documents. For entities providing igmaing, gambling/betting, custodian, FX brokerage, investment and/or prepaid-value/e-currency, e-wallet products or services, the following documents need to be supplied to us additionally as a supplement to the above:

We will not begin to process payments or deposits on your behalf until we have reviewed the documentation that you provide, in accordance with applicable law. If you wish to change to a Tier with a higher limit, you must provide us with the additional required documentation. We will not approve your request to change Tiers and permit you a greater processing volume unless we have reviewed your documentation to our satisfaction.

3.3 Deleting or Deactivating iPint Account

You as an iPint Merchant can choose to terminate your account. iPint will disable your account permanently. Furthermore iPint is required to keep any information related to KYC documentation and completed transactions for 5 years as per the law.

iPint reserves the right to unilaterally block, suspend and/or terminate your use of Services, either temporarily or permanently. This can happen in the following situation:

(a) If we suspect that you have failed to comply with 'iPint Terms of Service'

(b) If we believe that you pose an unacceptable fraud & compliance risk to us, or if you provide any false, incomplete, inaccurate or misleading information

We will not be liable to you for any losses that you incur in connection with closure of our Services or suspension of your account.

3.4 Abuse of iPint Account

You are responsible for maintaining the secrecy of your account information, including username and password you chose when you registered an account. You are fully responsible for all activities that occur with the use of your password or account.

You assume all liabilities arising from unauthorized access of your account. Please notify us immediately of any unauthorized use of your password or account or any other breach of security. If you share your password with others we will not be liable for any loss that you may incur as a result of someone else using your password or account, either with or without your knowledge. We may stop or suspend your use of the Services if we have reasonable grounds for doing so relating to the security of the iPint or the suspected, unauthorized or fraudulent use of the iPint.

Please be aware that only the account holder is allowed to use the account.

iPint recommends that you maintain a high standard of safety adhering to the following:

4. Business

4.1 iPint Business Solutions

iPint offers payment, deposit and withdrawal solution to Merchants. Depending upon the Services availed by them, iPint may need additional compliance documents. Currently the Merchants are provided with deposit service only. iPint deposit service allows Your Clients to top up their accounts using Virtual currencies for specific amount of Fiat. iPint makes the settlements in Fiat or Stablecoin to you after deducting a Fee.

iPint withdrawal service will allow Merchants in specific industry segment like igaming to withdraw Virtual currencies to their clients from available funds in their Merchant account.

The deposit & withdrawal service is to be used only for this purpose, and any misuse will cause a suspension or termination of the accoiunt.

In case of deposit service, iPint will process the incoming amount of cryptocurrency and will enable topping up Your Client's account. If the incoming amount exceeds the requested deposit amount (overpayments) or if incoming amount is less than the requested deposit amount (underpayments), in both cases, iPint will enable the deposit of actual amount in Your Client's account as we do not issue a refund of the surplus amount or in case of insufficient funds, the complete amount. For details on refund in a normal ecommerce payment, please refer further to Section 11 Refunds & Adjustment.

Merchants who would like to use iPint's deposit and withdrawal service will need to submit documentation of their AML/KYC policy and may sign a written agreement where they agree to cooperate with iPint's periodical checks and/or due diligence on the Merchant's clients. iPint may also decide to do separate KYC for Merchant's high value clients at Merchants cost.

4.2 Transaction Limits

iPint imposes daily and annual transaction processing limits on Merchants. When you register for an iPint account and if your account is verified, you will be enabled to transact in the Silver tier. Unless iPint compliance team has done the assessment of your business and verified your documentation related to you and your business, for Gold or Platinum tier, your transaction capabilities shall be limited to Silver tier. In this process, we may also ask for additional documentation.

During the onboarding of your business, you are required to submit the expected yearly transaction volume and the expected maximum amount in a single transaction using iPint services. If a single transaction is USD 10000 or more, additional information/KYC of Your Client may be required by iPint.

The Merchant agrees to cooperate with iPint compliance team and provide the requested information and documentation on transactions of USD 10,000 or above.

At any time, iPint reserves the right to decline transactions that are under suspicion of not being compliant with these Terms and/or iPint's AML/CFT Policy.

4.3 Keeping Records

You must keep all records needed for fulfilling the goods or services sold to Your Client and providing any post-sale support to them. If the sale of the item requires any government registration, you are responsible for such registration. iPint shall maintain records of all documentation and information collected for your Merchant account for the duration that your account is active and up to 5 years thereafter.

4.4 Your Client's Verification

As per the laws & regulations of the place you are established and operate from, it is your sole responsibility for obtaining any/all information required from Your Clients. For instance, if applicable law prohibits a sale to persons under the age of 18 years, you must ensure that Your Client is at least 18 years of age. Similarly, if applicable law requires that Your Client's identity be verified, you must verify their identity. We will not be responsible for your failure to adequately verify Your Client's identities or qualifications.

4.5 Obligations

Your obligations:

  1. to act in good faith and adhere to these Terms of Service as well as other provisions governing the use of our Services, and timely as well as properly fulfill your obligations to us
  2. to provide us with information, documents and data which is accurate, correct and up to date
  3. to promptly, not later than on the same Business Day (in case of non-Business Day, on the earliest Business Day) as you become aware of that, notify us of improperly provided Services, of loss, theft, unauthorized use or illegal acquisition of the iPint login data
  4. to promptly, not later than on the same Business Day (in case of non-Business Day, on the earliest Business Day) as you become aware of that, report to us any suspicions about compliance with these Terms of Service and not carry out any transactions in Virtual currencies until we instruct otherwise
  5. to take all reasonable measures necessary to prevent illegal disclosure, appropriation, or use of your data related to transactions in Virtual currencies
  6. at all times to comply with all applicable laws and regulations, including, but not limited to, AML/CFT regulations, personal data protection laws, unfair commercial practices regulations, consumer rights laws, advertising laws, etc.
  7. to ensure that your use of both, the Services and any Information received is strictly in compliance with Applicable Laws (including but not limited to the Master Direction and Data Protection Rules)
  8. Our obligations to you:

  9. to act in good faith and with discretion to meet your best interests;
  10. to strive to enable the intended use of iPint, take timely measures to correct any operational faults with service provision
  11. to timely and properly fulfill our obligations to you.
4.6 Representation and Warranties

Use of the Services is subject to the laws and regulations of the Singapore regarding the prevention of terrorist financing and anti-money laundering. You agree and acknowledge that your use of the Services would be in conformance with such laws and regulations, including, without limitation, the sanctions programs administered by the Office of Foreign Assets Control of the United States Department of the Treasury.

Your use of the Services is also subject to the following important restrictions:

  1. You have the capacity to enter into this Agreement as required under Applicable law and have the corporate power to perform the obligations under this Agreement including the terms set out hereunder.
  2. You confirm that you have read these Terms of Service and you commit to be bound by these Terms.
  3. You confirm that you have enough knowledge relating to Virtual currencies to use our Services, and understand that you are solely responsible for determining the nature, potential value, suitability, risks and appropriateness of our Services
  4. You confirm that your use of the Services will not contravene any applicable international, federal, state or local law or regulation, including applicable tax laws and regulations
    1. Your use of the Services will not relate to the prohibited activities such as sales of narcotics, research chemicals or any controlled substances;
    2. items that infringe or violate any intellectual property rights such as copyrights, trademarks, trade secrets, or patents;
    3. ammunition, firearms, explosives (including fireworks), or weapons regulated under applicable law or as determined by us; or
    4. transactions that show the personal information of third parties in violation of applicable law;
    5. transactions that support pyramid, Ponzi, or other "get rich quick" schemes;
    6. provide credit repair or debt settlement services;
    7. Sales of Kratom or Nootropics

  5. If your use of the Services relates to one of the following restricted activities, your availment of the Services will be subject to internal review by us and you are only allowed to transact when expressly authorized by iPint in writing:
    1. Providing Currency exchange services
    2. Engaged in Foreign Exchange, Money Service Business or E-Wallets activities
    3. Providing adult content
    4. Transaction that are associated with purchases of annuities or lottery contracts, lay-away systems, banking, offshore banking, transactions to finance, investing, investment related products or
    5. Transactions that involve gambling or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, and sweepstakes, unless you have obtained our prior written approval and you and Your Clients are located exclusively in jurisdictions where such activities are permitted by law.
  6. You confirm to notify us immediately, no later than 10 (ten) calendar days, of any changes to any information you have provided to us in connection with these Terms of Service and/or of any circumstances that have or are likely to have a negative impact on the due discharge of your obligations to us and/or of any circumstances that are material for the performance of these Terms e. g. names of authorized persons, your name/title, code, place of residence/registered office address, place and nature of business, email address, ownership change, restructuring, bankruptcy or liquidation proceedings, etc. On our request, you must also submit any documents (originals, duly certified paper copies or scanned copies) supporting such changes in information or circumstances, irrespective of whether such information or documents have been provided to public registers
4.7 Our Rights

We reserve the right to decline to process a deposit or purchase if we reasonably believe that it violates these Terms or would expose you, other Merchants, Your Clients, or other parties to violate applicable laws. If we reasonably suspect that your iPint account has been used for an illegal purpose, you authorize us to share information about the same, your iPint account, and your account activity with law enforcement authorities.

We may ask for permission to inspect your business location in connection with your use of the Services, or documentation or evidence to support specific transactions. In the event, you refuse to comply with our request, we will have right to suspend or terminate your iPint account.

4.8 Third Party Services

While using the iPint services, you may be offered services, products and promotions provided by third parties. If you decide to use these third-party services, you will do so at your own risk and will be solely responsible for reviewing, understanding and complying with the associated terms and conditions. We expressly disclaim any liability arising out of or in connection with the usage of third-party services and are not responsible for the performance of the third-party services or service providers.

4.9 Security

We have implemented adequate security measures designed to secure your information from accidental loss and from unauthorized access, use, alteration or disclosure. However, we cannot guarantee that unauthorized persons will never gain access to your information, and you acknowledge that you provide your information at your own risk, except as otherwise provided by applicable law.

5. Using your Information

In order to provide the Services, we may share information about you and your iPint account with third parties, including but not limited to your bank and Your Clients.

In order to verify the information you submit via the account registration process as detailed in Section 3 (Merchant Registration Process) we may request information from various third parties, including credit bureaus and identity verification services. By accepting these Terms you authorize us to retrieve information about you by using third parties and acknowledge we may have to share the information you have previously submitted, to do so.

From time to time iPint may engage third parties in order to assist in different aspects of the provision of our Services to you. You acknowledge and agree your use of the Services may require that we share your information with these third parties who may need to review your eligibility to use the Services according to their own verification procedures.

6. Our Ownership of Services & Intellectual Property

6.1 Intellectual property

You agree and acknowledge that we own all right, title and interest to and in the Services, the associated software, technology tools and content, the iPint website, the content displayed on the website, and other materials produced by and related to iPint, including (a) copyrights, rights affording protection similar to copyright, rights in databases, patents and rights in inventions, trademarks, rights in internet domain names and website addresses and other rights in trade names, designs, know-how, trade secrets and other rights in confidential information, including under marketing legislation; (b) all other rights having equivalent or similar effect in any country or jurisdiction in the world (collectively, the iPint IP).

All copyrights, trademarks, patents, trade secrets and other iPint IPs relating to the Services, including the systems, platforms, software and documentation provided by us to you are the property of the iPint and/or the third party which granted us the right to provide/supply them, shall remain at all times the sole and exclusive property of iPint or the relevant third party. You are only permitted to use the Services and the relevant IPs to accept and receive payments, according to these Terms. When you accept the Terms, we grant you a personal, limited, revocable and non-transferable license to use the iPint IP or the relevant third party, without the right to sublicense. You shall not rent, lease, sublicense, distribute, transfer, copy, reproduce, download, display, modify or timeshare the IPs or any portion thereof, or use these IPs as a component of or a base for products or services prepared for commercial sale, sublicense, lease, access or distribution.

You shall not prepare any derivative work based on the iPint IP, nor shall you translate, reverse engineer, decompile or disassemble the iPint IP. You shall not alter, obscure, remove, conceal or otherwise interfere with any eye-readable or machine-readable marking on such Intellectual Property which refers to iPint’s Intellectual Property rights. Further, You shall not either directly or indirectly decompile, decipher, disassemble, reverse engineer or resell the Intellectual Property, directly or indirectly authorize any of your employee/personnel/representatives, your Customer/s and/or any of their employee/personnel/representatives to decompile, decipher, disassemble, reverse engineer the Intellectual Property or discover the source code to such Intellectual Property.

6.2 Development and Modification of iPint Software

We reserve the right to exercise our discretion at any time to develop, improve, and otherwise modify the website and/or the applications comprising the iPint solution or other programs related to our Services, the functions and functionality of the website and/or of the iPint solution, including, but not limited to: number of functions (by both increasing and decreasing it), their scope (by both increasing and decreasing it), procedure for use of the functions, scope of data required for your identification and identification procedures etc. If needed and possible, at our discretion we will publish information about the changes. We assume no responsibility for any losses and inconveniences to you and/or any third parties, which may be sustained as a result of exercising our right indicated in this clause.

While we aim for 100% server up-time, we realize this is not always possible. During our work on improvements and upgrades, there may be occasional server outages.

iPint reserves the right to perform maintenance or changes to the Services at any time it sees fit. This may result in periods during which the services may be temporarily unavailable. iPint will, to the extent that it is possible, announce such interruptions in advance. However, it is not responsible for any damages or losses resulting from server outages, communication networks or blockchain systems.

7. Advertising

By using the Services, we may publish your corporate name, URL, artwork, text, logo, and other publicly available information about your business ("Merchant Info") to iPint's promotional materials and all marketing channels. A third party may use iPint's publicly-available Merchant Info and tailor the data to create entries for directories or other channels, and the data listed on third party directories or channels will be subject to separate third party terms of service.

You represent and warrant to us that you have the right to provide the Merchant Info to us, and that the use, copying, modification and publication of the Merchant Info by us: (a) will not infringe, violate or misappropriate any third party copyright, patent, trade secret or other proprietary rights, (b) will not infringe any rights of publicity or privacy, and (c) will not be defamatory or obscene or otherwise violate any law.

8. Invoices & Settlement

8.1 Invoice Generation and Collecting/Exchanging Virtual Currencies

iPint will collect the Virtual currencies of requisite amount on your behalf. You post a request to iPint to collect a specific Fiat amount's (such as Dollars or Euros) equivalent in Virtual currencies.

iPint will pull the best exchange rate and provide the payment instructions to you for you to display to Your Client as iPint invoice. To calculate the exchange rate for a given Virtual currency in US Dollars or US Dollar Stablecoin, we use the Bids (open orders to buy) directly from our approved exchanges. You hereby authorize us to automatically execute the exchange of the agreed amounts of received Virtual currencies, deduct the applicable Fees and other costs and transfer such amounts to you.

iPint provides a time window in the invoice where the exchange rates are guaranteed. If Your Client's Virtual currency payment gets first confirmation on the blockchain network within this time, you will get the exact amount of Fiat currency or Stablecoin. Invoice timeout information is clearly displayed on each iPint invoice.

While we guarantee the exchange rate as long as Your Client pays within such time window, you agree that you assume the volatility risk of your local currency or the applicable Virtual currency. For instance, if you ask us to collect $100, and Your Client sends the Virtual currency equivalent within the time window, we guarantee you will receive exactly $100, minus applicable Fees. We do not, however, guarantee the value of the U.S. dollar.

The moment of exchange of the received Virtual currencies into Stablecoin or Fiat shall be the moment when the Virtual currencies are received by us with requisite number of confirmations on the blockchain. For example, any payments that are made using the Bitcoin blockchain, an invoice is considered complete by us after the payment/deposit has six (6) block confirmations. You can inform Your Clients about its status through iPint Service. iPint is not liable for settling the invoice which does not have 6 block confirmations.

All Virtual currency exchange risks arising from any transactions will be your sole responsibility.

In relation to payments/deposits in Virtual currencies made to you, any legal relations are between you as a Merchant and Your Client making such payment/deposit. We are not a party to relations between you as a Merchant and Your Clients making payments/ deposits/ donations in Virtual currencies. We do not accept any queries, letters, requests and/or complaints as well as liability for the quality, legality, safety, delivery or any other aspect regarding you, your services, products, activities and/or a payment and/or a donation, or a purchase related to relation between you as a Merchant and Your Clients. Any disputes between you as a Merchant and Your Clients shall be resolved exclusively between two of you.

9. Fees

9.1 Merchant Fees

iPint charges Service Fees from the Merchants of all three tiers. The Service Fee shall be a percentage from the transaction carried out by Merchant's clients. This Service Fee shall be agreed between Merchant and iPint before or at the time of the Merchant account creation.

While making the settlement, Service Fee shall be deducted before settling the amount. A monthly invoice shall be generated for the Service Fee for every Merchant.

During the settlement process, the blockchain network (mining) fee shall be paid by the Merchant.

9.2 Your Client's Fees

We do not charge any fees from Your Clients. However, Your Clients will have to pay an extra cost of network transaction fee while paying the invoice. This additional cost shall be added in the invoice generated for the payment. This network fee is paid to the network participants or miners to transfer the Virtual currency received from Your Client for exchange. This amount is dynamically calculated based on the network fee at the time of generation of the invoice. You may also note that Your Client will have to incur a separate network/mining fee while transferring the Virtual currencies from their wallet to iPint wallet address given in the invoice.

At the time of refund, Your Client's (only in case of a purchaser), network fee is not refunded.

We reserve the right to change our fee structure and pricing. Your continued use of the Services after we notify you of any changes in our Fees constitutes your acceptance of such change.

10. Settlements

We will verify Your Client's payments over the blockchain network and post the balance in their account as well as your dashboard. iPint holds the funds in its wallet temporarily till they are settled. You are given the option to chose your payout preference in your Merchant account.

You can receive a settlement in Stablecoin or Fiat currency. We currently provide the settlement in Stablecoin which may expand to other Virtual currencies in future. You will assume volatility risks of the currency in which you choose to settle. For example, if you choose to settle in bitcoin, then you assume the volatility risk of the bitcoin value.

All settlement information can be seen from the Merchant dashboard.

10.1 Settlement in Fiat

The Fiat currency settlement option shall be opened in future. Direct deposit to a bank account in a Fiat currency shall be available to Merchants located in certain countries. If you wish to receive direct Fiat settlements, you have to provide us with valid bank account information and keep such information current.

We shall inform Merchants directly when we start this.

10.2 Minimum Settlement

iPint has set a minimum payout amount for settlement with Merchant. The information of the same is given in the Merchant Account. If the Merchant's settlement amount is less than the minimum amount in a cycle, the amount is added in the next cycle settlement.

10.3 Exceptions in payment/deposit

In certain situations an invoice is not fully paid or overpaid, it will result in a payment/ deposit exception. iPint accepts payment exceptions in case of deposit or donations and passes on the same amount to the Merchant.

In case of a payment exception related to ecommerce Merchants selling goods and services, the Merchants can resolve it by initiating a refund. Details of the process are given in Refund section.

10.4 Unsupported Virtual currencies

Your Client is shown the Virtual currencies supported by iPint while making a payment or deposit. Once they select the amount and currency, an invoice is generated with a QR code which has the receiving address of the selected Virtual currency. Your Client has to send the same currency, which they selected, on the address given in the invoice. We will not be responsible if any other currency is sent as this transaction will never complete. For example if Your Client selects BTC as the Virtual currency, and once QR code is generated, send ETH on that address mistakenly, the transaction is irrecoverable. The amount of ETH will be lost.

iPint does not support or process payments for unsupported coins, tokens, or blockchain forks. You and Your Clients agree that iPint assumes absolutely no responsibility whatsoever for such payments.

10.5 Deferring settlement

If we need to conduct an investigation or resolve any pending dispute related to your iPint account, we may delay settlement or restrict access to your funds while we do so. Additionally, we may delay settlement or restrict access to your funds if required to do so by law, court order or at the request of law enforcement.

10.6 Your Dashboards

Merchant Account contains dashboards having information of all the payments/deposits a Merchant receives and the history of the same. Dashboards are updated live and are a good resource for the Merchant to monitor its business situation. Should you identify an error, you must notify us within thirty (30) calendar days from the transaction date.

11. Refunds & Adjustments

Refunds are not enabled currently. iPint does not provide refunds in case of deposit/donation services. However our refund process is mentioned below.

iPint can facilitate Virtual currency refunds on your behalf for the purchase made for your goods or services. You authorize us to process refund requests.

You can decide to issue a partial refund or refund the full amount of the initial purchase in Virtual currency to the Clients. We reserve the right to establish the minimum amount that can be refunded on your behalf. If the amount requested is lower than the minimum refundable amount, we reserve the right to not issue the refund.

If you do not have enough funds in your iPint account to cover the refund, iPint may require you to deposit Virtual currency to iPint to cover the refund to Your Client, the purchaser.

Any required currency conversion during the refund process will be calculated at a spot rate determined by iPint. We may charge Fees and deduct other costs for processing refunds on your behalf. For example iPint incurs miner fees to refund a payment. If you request a refund, iPint will deduct the miner fees from the refund amount.

11.1 Underpayments

Underpayments occur when Your Client sends less than the full amount required to mark the invoice as fully paid. Since the invoice is not fully paid and complete, the invoice is eligible for refund. You can initiate the refund process from the dashboard in Merchant account. If you want you can accept the underpayment from the dashboard. iPint will refund the value of invoice minus the relevant fee to Your Client.

11.2 Overpayments

Overpayments occur when an invoice receives excess funds. In cases such as this, this invoice will be marked as overpayment and Merchant can request for refund of excess amount. The amount equivalent to invoice value shall be moved for the payout.

Any requests for overpaid or underpaid amounts can be made to us until we transfer the overpaid or underpaid amounts to you. The maximum time we will keep those will be 30 days. If no requests for refunds of overpaid or underpaid amounts are received by us until 30th day, we will transfer the overpaid or underpaid amounts to you on the exchange rate of that day. After transfer of these amounts to you, you will be fully responsible for any refunds of overpaid or underpaid amounts to Your Clients

11.3 Your Refund Policy

iPint is not responsible for Merchant refund policies. We do suggest Merchants have a clear refund policy for their clients (including, if applicable, "no refunds are allowed as all sales are final"). For certain industries, a refund policy may not be applicable (e.g. where a service is provided). If refunds are permitted, we recommend you to refund the amount of the initial purchase in the currency in which the item was priced.

11.4 Your Client's Complaints

Your Client filing any complaint with iPint about a purchase will be forwarded to you for resolution. iPint reserves the right to terminate accounts which receive excessive complaints.

11.5 Merchant Queries or Complaints

Merchants can write to us on help@ipint.io regarding any complaints or queries. More details on whom to directly talk for specific queries are given in your Merchant account.

12. Account Termination

12.1 Closing Merchant Account

These Terms of Service will no longer be applicable once you close your Merchant account subject to Section 26 (Survival). You may close your iPint account at any time. You will still be obligated to us for any cost or fees incurred, if applicable, before the closure and we will remit to you funds till Your Client's last transaction. You will be responsible for any applicable transfer fees that may be incurred in the funds transfer post closure of your account.

12.2 Our Right to Close or Suspend Your Account

We may terminate your account, at our discretion, with prior notice of 1 (one) day to you via email or phone communication. We may also suspend your access to the Services if we suspect that you have failed to comply with these Terms, pose an unacceptable fraud risk to us, or if you provide any false, incomplete, inaccurate or misleading information with prior notice of 1 (one) day. We will not be liable to you for any losses that you incur in connection with our closure or suspension of your account. Additionally, if your Merchant account does not have a paid transaction for more than twelve consecutive months, iPint reserves the right to suspend your account, disabling processing capabilities.

12.3 Effect of Account Closure

If your iPint account is closed, you agree: (a) to continue to be bound by these Terms, as required by Section 26 (Survival) (b) to immediately stop using the Services, (c) that the license provided under these Terms shall end, (d) that we reserve the right (but have no obligation) to delete all of your information and account data stored on our servers, and (e) that we shall not be liable to you or any third party for termination of access to the Services or for deletion of your information or account data.

13. Indemnification

You agree to indemnify iPint's, its affiliated and related entities, and any of its officers, directors, employees and agents from and against any claims, costs, losses, liabilities, damages, expenses and judgments of any and every kind (including, without limitation, costs, expenses, and reasonable attorneys' fees) arising out of, relating to, or incurred in connection with any claim, complaint, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises or relates to: (a) any actual or alleged breach of your representations, warranties, or obligations set forth in these Merchant Terms; (b) your wrongful or improper use of the Services; (c) the products or services sold by you through the Services, including but not limited to any claims for false advertising, product defects, personal injury, death or property damage; or (d) any other party's access or use of the Services with your account information unless required to be provided by iPint to comply with applicable laws including AML/CFT.

14. Limitation of Liability

14.1 To the extent permitted by law, we exclude all liability and responsibility for any losses, damages, costs or expenses, whether in tort (including negligence), contract or otherwise and whether direct, indirect, or consequential (including in connection with business interruption), which you or any other person may suffer or incur in connection with the Services, the use or inability to use the iPint, and in respect of any Virtual currencies or otherwise.

14.2 Where and to the extent liability for breach or any implied warranty or condition, or otherwise, cannot be excluded, our liability to you is limited to the total amount of the Fees we have earned from you during the last 3 (three) months (from the event giving rise to the claim for liability) as a result of supplying the Services to you. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.

14.3 We take no responsibility for and will not be liable for any financial loss arising from the use of your Account, including, but not limited to, loss due to technical faults resulting in a loss of ability to access your Account; integration of the iPint software, any part thereof, such as application programming interfaces (APIs) and/or plug-ins in your website and/or system; fluctuations of Virtual currencies/Fiat; system hacks; server failure or data loss; technical faults of the Virtual currencies system; forgotten passwords (long-term and one-time); security of your passwords (long-term and one-time) and private keys; unauthorized access to your Account; corrupted files or data; incorrectly constructed transactions or mistyped Virtual currencies addresses.

14.4 To the fullest extent permissible under Applicable Law, iPint expressly disclaims all other warranties of any kind, implied, with respect to the Services, including warranties of merchantability, compatibility, applicability, usability and appropriateness, satisfactory quality, accuracy, title and non-infringement, and any warranties that may arise out of the course of performance, course of dealing or usage of trade

14.5 We take no responsibility for and will not be liable for any non-compliance with Services' quality or quantity requirements laid down in these Terms, all individual agreements thereof or provided otherwise e. g. on our website, if such non-compliance is caused due to non-performance or improper performance of any obligations of any third parties engaged by us for the provision of Services.

14.6 We do not provide any financial, investment or legal advice in connection with the Services. We may provide information on the price, range, volatility of Virtual currencies and events that have affected the price of Virtual currencies, but it should not be considered as investment or financial advice and should not be construed as such. Any decision relating to Virtual currencies is the Merchant's decision and we will not be liable for any loss suffered in relation thereto.

14.7 Without any limitation of other terms in these Terms of Service, you acknowledge that the iPint bears no liability for any damage, loss (including loss of profit), delay, inconvenience, failure in performance or interruption of the provision of Services, in each case caused by or resulting from (directly or indirectly):

  1. any computer virus, spyware, scareware, Trojan horse, worms or other malware or cyber, phishing or spoofing attack that may affect your computer or other device;
  2. any "hard fork", "soft fork", or other change in the operating rules of an underlying Virtual currencies network;
  3. any suspension of the Services permitted under these Terms;
  4. any other cause or condition beyond our reasonable control.

15. Taxes

15.1 It is your own responsibility for paying any taxes applicable to you in relation to using our Services.

15.2 We make no representations in relation to tax liabilities, assume no tax liability for any Merchant or PSP, assume no responsibility for the tax liability of any Merchant or PSP, not for collecting, reporting, withholding or remitting any taxes arising from any Services that you may use.

15.3 In case we are obliged under applicable law or voluntarily decide to report to any competent authorities any information that is related with your tax obligations, you undertake to provide us with the requested documents, data and information.

16. Privacy Policy

Please see our Privacy Policy for information regarding how we collect and use information. The Privacy Policy is part of these Terms, so please make sure that you read it.

17. Assignment

The Merchant undertakes not to assign, delegate, transfer or sell any of the rights, duties or obligations which are incumbent thereon pursuant to these Terms. iPint may assign these Terms of Service, or any rights or obligations hereunder, in whole or in part, without the prior written consent of the Merchant.

18. Severability

Should any provision of these Terms be determined to be invalid or unenforceable under any law, rule, or regulation, such determination will not affect the validity or enforceability of any other provision of this Agreement.

19. Relationship of the Parties

You and iPint are independent contractors and nothing in the Terms and/or individual agreements thereof shall make the us joint venture, partners, employees, agents or other representatives of the other party. Neither, you and us shall make any representation that suggests otherwise.

20. No Waiver

The failure, delay or omission of iPint to give notice of default or to enforce strict performance of any provision of these Terms will not be construed as a waiver, or future waiver, of its right to assert or rely upon such provision or any other provision of these Terms. No waiver or breach of any provision will be deemed a waiver of any other provision, and no waiver will be valid unless it is in writing and executed by iPint. No extension of time for performance of any obligation or act will be deemed an extension of time for any other obligation or act.

21. Entire Agreement

These Terms of Service constitute the entire understanding and agreement between you and iPint hereto and their affiliates with respect to its subject matter, and supersedes all prior or contemporaneous agreements, representations, warranties and understandings of the Parties (whether oral or written). These Terms shall be construed according to its fair meaning and not strictly for or against either you or iPint.

22. Notices

You agree to accept communications from us in an electronic format, and agree that all terms, conditions, agreements, notices, disclosures or other communications that we provide to you electronically will be considered to be "in writing".

23. Governing Law & venue

These Terms of Service and any dispute or claim arising out of or in relation to these Terms shall be governed by and construed in accordance with Singapore law.

Any dispute arising out of or relating to this Agreement, including any dispute concerning the existence or validity of these Terms of Service, shall be subject to mediation under the Singapore Mediation Rules under the Singapore Mediation Centre at Singapore, by a accredited mediator of the Singapore Mediation Centre, with such mediation to be followed by arbitration should this be necessary with such arbitration being by a sole arbitrator appointed by the Singapore International Arbitration Centre from its Panel of Arbitrators. The award shall be binding on the Parties, subject to the Applicable Laws in force, and the award shall be enforceable in any competent court of law.

24. Amendment

We may update or change these Terms from time to time by posting the amended Terms on our website. Such updates or changes shall be effective at the time of posting. If you continue to use the Services after we provide notice of such changes, your continued use constitutes an acceptance of the amended Terms and an agreement to be bound by them. If you do not agree to the amended Terms, you must close your iPint account per Section 12 Account termination section of this agreement and discontinue your use of the Services.

25. Force Majeure

Neither you nor we will be liable for delays in processing or other non-performance caused by such events as fires, telecommunications, utility, or power failures, equipment failures, labor strife, riots, war, nonperformance of our vendors or suppliers, acts of God, pandemic, or other causes over which the respective party has no reasonable control; provided that the party has procedures reasonably suited to avoid the effects of such acts.

26. Survival

The provisions of Sections 4.6 (Representations and Warranties), 4.9 (Security), 6 (Our Ownership of Services & Intellectual Property), 7 (Advertising), 10.5 (Deferring Settlements), 13 (Indemnification), 14 (Limitation of Liability), and 23 (Governing Law; Arbitration) shall survive the termination of these Terms.

Contact compliance@ipint.io for any other clarification.