Terms and Conditions

Last Updated: April 9, 2026 | Effective Date: April 9, 2026

1. Definitions

For purposes of these Terms, the following definitions apply:

• "Account" means the registered user account created to access our Services.
• "Business Day" means Monday through Friday, excluding federal holidays in the United States.
• "Card Network" means any payment card network, including Visa, Mastercard, American Express, and Discover.
• "Chargeback" means a reversal of a payment transaction initiated by the cardholder or issuing bank.
• "Content" means all information, text, images, data, links, software, or other materials available through our Services.
• "Customer" means an individual or entity that makes a payment to a Merchant through our Services.
• "Merchant" means a business or individual that uses our Services to accept payments.
• "PCI DSS" means the Payment Card Industry Data Security Standard.
• "Prohibited Business" means any business activity prohibited under Section 6 of these Terms.
• "Transaction" means any payment processed through our Services.

2. Eligibility and Account Registration

2.1 Eligibility Requirements

To use our Services, you must:

• Be at least 18 years of age or the age of majority in your jurisdiction
• Have the legal capacity to enter into a binding contract
• Be a resident of or have a business entity registered in a supported jurisdiction
• Provide accurate, complete, and current information during registration
• Not be subject to sanctions or restrictions under applicable laws
• Not have been previously suspended or terminated from our Services

2.2 Account Registration

When registering for an Account, you agree to:

• Provide truthful, accurate, current, and complete information
• Maintain and promptly update your account information
• Maintain the security of your account credentials
• Accept responsibility for all activities that occur under your Account
• Notify us immediately of any unauthorized use or security breach

2.3 Verification

We may require you to provide additional information and documentation to verify your identity, business legitimacy, and compliance with applicable laws. This may include:

• Government-issued identification
• Business registration documents
• Financial statements or bank records
• Proof of address
• Tax identification numbers

3. Services Description

3.1 Payment Processing Services

Virtual Transfer provides payment processing services that enable Merchants to:

• Accept credit and debit card payments
• Process ACH (Automated Clearing House) transactions
• Accept digital wallet payments (Apple Pay, Google Pay)
• Process recurring and subscription payments
• Issue refunds and manage chargebacks
• Access reporting and analytics tools

3.2 API and Integration Services

We provide Application Programming Interfaces (APIs) and integration tools subject to:

• Compliance with our API documentation and guidelines
• Maintaining security standards consistent with PCI DSS requirements
• Not using our APIs for unauthorized or illegal purposes
• Accepting that API availability may be subject to scheduled maintenance

3.3 Service Limitations

We reserve the right to:

• Modify, suspend, or discontinue any aspect of our Services
• Impose transaction limits based on risk assessment
• Require additional verification for high-value transactions
• Decline to process transactions that violate these Terms

4. Fees and Payments

4.1 Fee Structure

Our fees may include:

• Transaction Fees: Percentage of each transaction value plus a fixed fee per transaction
• Monthly Fees: Recurring fees for account maintenance and service access
• Chargeback Fees: Fees associated with disputed transactions
• Refund Fees: Fees for processing refunds
• ACH Fees: Fees for ACH transactions, including returns and reversals

4.2 Fee Schedule

Current fees are available on our Pricing page and may be updated with 30 days' notice. All fees are non-refundable unless otherwise specified.

4.3 Payment of Fees

You authorize us to:

• Deduct fees from transaction proceeds before settlement
• Charge fees to your designated bank account or payment method
• Adjust for fees in the event of refunds or chargebacks

4.4 Taxes

You are responsible for all applicable taxes related to your use of our Services. Fees quoted do not include taxes unless expressly stated.

5. Transaction Processing

5.1 Authorization

By submitting a transaction, you represent and warrant that:

• The transaction is authorized by the Customer
• The transaction amount is accurate and owed by the Customer
• You have provided accurate goods or services as described
• The transaction complies with all applicable laws and Card Network rules

5.2 Settlement

Transaction proceeds will be settled to your designated bank account according to our settlement schedule, typically within 2-3 Business Days, subject to:

• Risk assessment and hold periods for new accounts
• Reserve requirements as determined by our risk management
• Deduction of fees, chargebacks, and adjustments

5.3 Refunds

You may process refunds through our Services subject to:

• Refund amount not exceeding the original transaction amount
• Compliance with your refund policy disclosed to Customers
• Applicable refund fees as specified in our fee schedule

5.4 Chargebacks

You understand and agree that:

• Customers may dispute transactions through their issuing bank
• You are responsible for chargeback fees regardless of dispute outcome
• We may debit your account for chargeback amounts and fees
• Excessive chargebacks may result in account suspension or termination
• You will cooperate in providing evidence to dispute chargebacks

6. Prohibited Businesses and Activities

6.1 Prohibited Businesses

You may not use our Services for the following business activities:

• Illegal drugs, controlled substances, or drug paraphernalia
• Counterfeit goods or copyright/trademark infringement
• Gambling, betting, or lottery services (unless legally licensed)
• Money laundering, terrorist financing, or sanctioned activities
• Ponzi schemes, pyramid schemes, or fraudulent investments
• Adult content, escort services, or sexually oriented businesses
• Weapons, ammunition, or explosives
• Tobacco, e-cigarettes, or vaping products (where prohibited)
• Virtual currency or cryptocurrency exchanges (without prior approval)
• Debt collection or credit repair services
• Telemarketing or outbound sales (without prior approval)
• Any business that violates applicable laws or regulations

6.2 Prohibited Activities

You may not:

• Use our Services for any illegal purpose
• Process transactions on behalf of third parties without authorization
• Submit fraudulent, unauthorized, or fictitious transactions
• Circumvent transaction limits or security measures
• Interfere with or disrupt our Services or servers
• Attempt to access accounts or data belonging to others
• Use our Services to harass, abuse, or harm others
• Violate any Card Network rules or operating regulations

7. Security and Compliance

7.1 PCI DSS Compliance

You agree to:

• Comply with all applicable PCI DSS requirements
• Never store full track data, CVV codes, or PIN data
• Implement appropriate security measures to protect cardholder data
• Complete annual PCI DSS self-assessment questionnaires as required
• Report any security incidents or data breaches immediately

7.2 Data Security

You are responsible for:

• Maintaining secure systems and networks
• Implementing appropriate access controls
• Training employees on security best practices
• Promptly reporting any suspected security breaches

7.3 Regulatory Compliance

You represent and warrant that your business:

• Complies with all applicable federal, state, and local laws
• Maintains all required licenses and permits
• Complies with anti-money laundering (AML) regulations
• Complies with Office of Foreign Assets Control (OFAC) sanctions
• Complies with consumer protection laws

8. Intellectual Property

8.1 Our Intellectual Property

All content, trademarks, logos, software, and materials available through our Services are owned by or licensed to Virtual Transfer and are protected by intellectual property laws. You may not:

• Copy, modify, distribute, or create derivative works without authorization
• Use our trademarks without prior written consent
• Reverse engineer or decompile our software
• Remove or alter any copyright or proprietary notices

8.2 License to You

Subject to these Terms, we grant you a limited, non-exclusive, non-transferable license to access and use our Services for their intended purpose.

9. Confidentiality

You agree to maintain the confidentiality of:

• Your account credentials and API keys
• Customer payment information
• Any non-public information about our Services
• Any information designated as confidential by either party

10. Termination

10.1 Termination by You

You may terminate your Account at any time by providing written notice. Termination does not relieve you of obligations incurred prior to termination.

10.2 Termination by Us

We may suspend or terminate your Account immediately if:

• You violate these Terms or applicable laws
• We determine your use poses a security or legal risk
• You engage in fraudulent or prohibited activities
• Required by law, regulation, or court order
• You fail to cooperate with our verification requests

10.3 Effect of Termination

Upon termination:

• Your right to access and use our Services immediately ceases
• We may withhold pending settlements to cover potential chargebacks
• You remain liable for all fees and obligations incurred
• We may retain data as required by law or for legitimate business purposes

11. Disclaimers and Limitation of Liability

11.1 Disclaimer of Warranties

OUR SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMITTED BY LAW, WE DISCLAIM ALL WARRANTIES, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

11.2 Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY LAW, VIRTUAL TRANSFER SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, DATA, OR GOODWILL, ARISING FROM OR RELATED TO THESE TERMS OR YOUR USE OF OUR SERVICES.

11.3 Maximum Liability

OUR TOTAL LIABILITY TO YOU FOR ANY CLAIM ARISING FROM OR RELATED TO THESE TERMS SHALL NOT EXCEED THE TOTAL AMOUNT OF FEES PAID BY YOU TO US IN THE THREE (3) MONTHS PRECEDING THE EVENT GIVING RISE TO LIABILITY.

12. Indemnification

You agree to indemnify, defend, and hold harmless Virtual Transfer and its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses (including reasonable attorneys' fees) arising from or related to:

• Your use of our Services
• Your violation of these Terms
• Your violation of any third-party rights
• Your violation of applicable laws or regulations
• Any content or materials you submit or transmit

13. Dispute Resolution

13.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of Illinois, without regard to its conflict of law principles.

13.2 Arbitration

Any dispute arising from or relating to these Terms shall be resolved through binding arbitration administered by the American Arbitration Association (AAA) in accordance with its Commercial Arbitration Rules. The arbitration shall take place in Chicago, Illinois.

13.3 Class Action Waiver

YOU AGREE THAT ANY PROCEEDINGS WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS, CONSOLIDATED, OR REPRESENTATIVE ACTION.

13.4 Small Claims Court

Notwithstanding the arbitration agreement, either party may bring an individual action in small claims court.

14. General Provisions

14.1 Entire Agreement

These Terms constitute the entire agreement between you and Virtual Transfer regarding the subject matter hereof and supersede all prior agreements and understandings.

14.2 Severability

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

14.3 Waiver

Our failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.

14.4 Assignment

You may not assign or transfer these Terms without our prior written consent. We may assign these Terms without restriction.

14.5 Notices

All notices shall be in writing and delivered to the addresses provided during registration or to the contact information below.

14.6 Force Majeure

We shall not be liable for any failure or delay in performance due to circumstances beyond our reasonable control.

15. Contact Information

16. Changes to Terms

We reserve the right to modify these Terms at any time. Material changes will be notified via:

• Email notification to registered users
• Notice posted on our website
• Notification within our Services

Your continued use of our Services after changes constitutes acceptance of the updated Terms.