Last update: 30th July 2020
This AGREEMENT (the Agreement) is made between
Globepay Limited, a company incorporated in England and Wales (under Registration No. 11399473) whose registered office is 23 Franklin Building 10 Westferry Road, London, England, E14 8LS, United Kingdom, and regulated by the Financial Conduct Authority of the UK (the “FCA”) to provide payment services under the registration number 930172 (“Globepay” or “Us”)
Party B the Merchant
Access Codes: usernames, passwords and any other security information required by the Merchant to access the Merchant Account;
Acquiring Services: the processing of Transactions via available payment network on behalf of the Merchant for the sale of Products & Services and the receipt and disbursement of related funds;
Anti-Money Laundering Legislation: all anti-money and counter-terrorist financing legislation in place from time to time in the United Kingdom including, without limitation (i) the Proceeds of Crime Act 2002 (ii) the Terrorism Act 2000 (as amended by the Anti-terrorism, Crime and Security Act 2001) (iii) the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“PSR 2017”); (iv) the Criminal Finances Act 2017; and (v) The Fraud Act 2006.
Applicable Law: any applicable law, regulation, rule, policy, judgment, decree, order or directive, including without limitation any regulatory guidelines or interpretations or regulatory permits and licences issued by governmental or regulatory authorities having jurisdiction over the relevant party, that are applicable to a party or its business or which the party is otherwise subject to, in each case in force from time to time;
Assessment: any assessment, fees, costs, expenses or charge of any nature which is levied under the Rule of Payment Networks at any time directly or indirectly in relation to any aspect of the relationship between the Parties;
Business Day: a day which is not a Saturday, Sunday or observed as a public holiday in the United Kingdom, People’s Republic of China and Hong Kong, Special Administrative Region of PRC on which banks are open for the transaction of regular banking business;
Chargeback: any claim for the return of funds to the card holder (irrespective of the reason for such claim) in accordance with the rules of Payment Networks;
Customer: a person who purchases, or attempts to purchase, goods or services using the payment networks supported by Globepay from a Merchant;
Commencement Date: the date on which the Merchant apply to become a Merchant with Globepay and submits the merchant application form, or, where applicable, the date on which representatives of both Parties sign this Agreement;
Confidential Information: (1) all information of a confidential nature (including trade secrets and information of commercial value including but not limited to all information of a commercially confidential nature relating to the operations, contracts or commercial or financial arrangements) which may become known to one Party (Receiving Party) from the other Party (disclosing Party);
(2) any information relating to a Party’s operations, processes, plans, intentions, designs, market opportunities, marketing, sales, strategies, trade secrets, technical, developmental, product operating, performance, cost, know-how, business and process information, computer programming techniques, file formats, interface protocols, interface formats, computer programs and software (including, but not limited to, source code, object code, software output, screen displays/file hierarchies, graphics and user interfaces), and all record bearing media containing or disclosing such
information and techniques; samples, models or prototypes, or parts thereof; formulas; and third-party confidential information; (3) the provisions of this Agreement and the negotiations relating to it and the operation of this Agreement, but does not include information which is public knowledge or already known to the receiving party receiving the information at the time of disclosure or which subsequently becomes general knowledge other than by a breach of this Agreement or subsequently comes lawfully into the possession of the receiving Party from a third party;
DPA: the following, to the extent they are applicable to a Party: (a) The Data Protection Act 2018 (DPA 2018); (b) The General Data Protection Regulation (Regulation (EU) 2016/679) (GDPR); (c) Privacy and Electronic Communications (EC Directive) Law 2003 and (d) any legislation or regulation that is made under the DPA 2018 or to implement the GDPR;
Fees: the fees applicable to the Services, as specified in Clause 6;
Globepay Merchant Portal: a secured account system available which is accessible only by an authorised user of the Merchant and which is used to store the identification and transaction information of the Merchant.
Large Enterprise: a Merchant whose annual turnover and annual balance sheet total exceeds €2 million and has at least ten (10) employees
Intellectual Property Rights: inventions, patents, registered designs, trademarks, service marks, domain names, trade and business names (including internet and email addresses), applications for any of the foregoing, copyrights, unregistered designs, confidential information, Knowhow and database rights including all extensions and renewals and the goodwill attaching to any of them and
applications for any of them and any right or form of protection of a similar nature and having equivalent or similar effect to any of them which may subsist anywhere in the world;
Merchant Account: the data account in Globepay ‘s systems that record the Transactions, the amounts paid to or payable by the Merchant in relation to the Transactions and Fees; and other information related to the Merchant and the subject matter of this Agreement;
Merchant’s Settlement Account: the bank account that the Merchant is obliged to maintain under Clause 4 of this Agreement;
Merchant ID: the unique number(s) that is assigned to the Merchant Account to identify the Transactions during processing via Payment Networks;
Month: A calendar month;
Party: each party to this Agreement;
Payment Network: payment solutions available to Merchants by Globepay, including but not limited to WeChat Pay, Alipay and UnionPay;
Publicity: any written or oral publicity, news release or other public announcements;
Prohibited and Restricted Product List: specified in Schedule 2;
Refund: the repayment by the Merchant to a Customer of all or part of payment;
Regulator: any person or body concerned with the enforcement or supervision of, making or compliance with Applicable Law;
Representative: all employees, temporary staff, independent contractors, part-time staff, call centre operatives, marketing and sale personnel, legal advisors, agents, representatives and all other people, in each case retained by or otherwise working under the direction of any member of either Party;
Reversal: an instruction initiated by a Payment Network Provider, a Payment Network Acquirer or Globepay to return funds for an existing Charge. Reversals may result from (i) invalidation of a charge by a Payment Network Provider or a Payment Method Acquirer; (ii) funds settled to you in error or without authorisation; and (iii) submission of a Charge in violation of the applicable Payment Method Rules, or where submission of the Charge or your use of Payment Processing Services violates this Agreement;
PCI DSS: Payment Card Industry Data Security Standard
Services: any services provided by Globepay according to this Agreement, as described in Clause 2;
Settlement Amount: the amount owed by either Party to the other as a result of the operation of the Settlement Process in relation to the Transactions;
Settlement Cycle: the period in respect of which the Settlement Amount is calculated in
accordance with the Settlement Process;
Settlement Process: the process specified in Schedule 1;
Supported Currencies: the currencies in which Transactions may be processed under this Agreement, as defined in Schedule 1;
Transaction: a transaction for the purchase of Goods and Services made by a Customer using the Payment Network provided.
Transaction Data: documents, data and records of any kind relating to Transactions;
Terminal Device: POS machine provided by Globepay, support WeChat Pay and Alipay only;
Verification: the use of all reasonable means made available via Globepay and/or Payment Networks to verify that the Merchant and/or Transactions are valid.
1) Paid by the Merchant within seven working days upon the Merchant account opening, or
2) Deducted by Globepay from the Merchant’s unsettled transactions.
During the Term, the Merchant shall:
The seat, or legal place, of arbitration, shall be London.
The language to be used in the arbitration shall be English.
The governing law of the contract shall be the substantive law of England.
28.1 This Agreement shall be governed by and construed in accordance with English law and the
Parties hereto agree to submit to the exclusive jurisdiction of the English Courts.
The Merchant can accept the Agreement by:
(For REFERENCE ONLY, the Merchant could find their actual fee rate in Merchant Account of Globepay Merchant Portal.)
(Online & Offline)
* Alipay online scenario applies when there is an API integration requirement, e.g. for e-commerce business.
* Processing fee will be deducted before payments are settled to merchant’s bank account.
* Merchants with monthly cash flow >£250,000 shall contact Globepay to ask for a fee rate quotation. All other merchants shall pay the processing fee according to this schedule.
* More Payment Networks will be available to the Merchant in the future, the corresponding fee rate shall be agreed by both Parties in writing.
Globepay reserves the right to adjust the rate to reflect the actual monthly transaction level of the merchant if it is lower than agreed. When the merchant is adjusted to a higher rate due to lower monthly transaction level, the merchant shall pay Globepay the difference between the two rates for the previous month transaction value.
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©2018 GlobePay Limited is authorised and regulated by the UK Financial Conduct Authority(FCA), with the Firm Reference Number (FRN) 930172.