Sheet 6.2

Terms of service

These terms govern your use of this website and of the DENVIK payment platform operated by DENVIK LLC (“DENVIK”, “we”, “us”). By using the website or opening an account you agree to them.

1. The agreement

These terms apply to every visitor of the website and to every merchant with a DENVIK account. A merchant account is additionally governed by the agreement signed at account opening, which sets out the plan, the rates, the reserve and any negotiated conditions. Where that agreement and these terms differ, the signed agreement prevails for that account.

2. Opening and keeping an account

An account may be opened by a business or a person acting in a professional capacity. You must provide accurate information about your business, the goods or services you sell and the people who control the business, and keep it up to date. We may ask for documents to verify this information before activating an account or at any later time, and may decline or suspend an account that cannot be verified.

You are responsible for keeping API keys and credentials confidential and for everything done with them. Tell us without delay if you believe they have been compromised.

3. The platform and third-party providers

DENVIK provides the software through which payments are initiated, screened, reported and reconciled. Processing, holding and settlement of funds are carried out by regulated third-party payment providers and acquiring partners. Your use of the platform may require you to accept the terms of those providers, and their decisions on authorisations, holds, reserves and reversals apply to your account.

Payouts are made the next day under every plan, subject to the reserve applicable to your account and to any hold required by a provider, a card scheme or applicable law.

4. Fees and reserves

Fees are those published on the pricing page for the Standard plan and those set out in the signed agreement for Professional and Enterprise plans. Fees are deducted from the amounts settled to you. A rolling reserve, 10% on Standard and as agreed on other plans, is withheld from settled funds to cover refunds, chargebacks and other reversals, and released on a rolling basis as set out in your agreement. There is no setup fee and no minimum term.

5. Acceptable use

You may only use the platform for the business described at account opening and in compliance with the acceptable use policy, applicable law and the rules of the card schemes and payment methods you accept.

6. Refunds, disputes and chargebacks

You are responsible for refunds owed to your customers and for the amount of any chargeback or dispute lost, together with any fee charged by a provider or card scheme for it. We provide tools to collect evidence and respond to disputes; the outcome is decided by the card scheme or payment method, not by us.

7. Data and security

Card data is processed in a PCI DSS compliant environment and data in transit and at rest is encrypted with AES 256-bit encryption. You must not store full card numbers or security codes on your own systems. Our handling of personal data is described in the privacy policy.

8. Term and termination

There is no minimum term. You may close your account at any time by writing to us. We may suspend or close an account for breach of these terms, for a requirement of a provider, card scheme or authority, or where the risk profile of the account changes. After closure, reserves are released as set out in your agreement once pending refunds and disputes have been settled.

9. Liability

The platform is provided with the care expected of a professional service provider. To the extent permitted by law, we are not liable for indirect losses, lost profits or losses caused by a third-party provider, a card scheme, a network failure or an event outside our reasonable control, and our total liability to you for any claim is limited to the fees you paid us in the twelve months before the claim.

10. Governing law and venue

These terms are governed by the laws of the Commonwealth of Kentucky, without regard to its conflict-of-law rules. Any dispute arising from these terms or from the use of the platform shall be brought before the state or federal courts located in Kentucky, and you consent to their jurisdiction.

11. Changes

We may update these terms. The version published on this page applies; material changes affecting merchant accounts are notified by email before they take effect.

12. Contact

Questions about these terms: contact@denvik.io.