Please Read Our Policies
Our Policies are made to be as clear as possible and to serve the purpose of protecting our users and ensure the continued growth and success of the Payswif Digital Payment Platform.
Welcome to Payswif’s Usage Terms and Conditions .
This document serves as a binding agreement between Payswif and you; referred to as the “user, customer, you” henceforth who is registered or is in use of the Payswif Services; “Payment Processing, Money Transfers, API Access and Payswif enabled devices & mediums (Payswif Prepaid Cards)” referred to as “Services” henceforth, you agree to comply to this agreement and all of its uses, terms and conditions in order to use any aspect of the services provided.
Payswif provides the services which includes but not limited to, accepting payments for products or services or to receive donations to your charity/NGO from your (“Customers”).
Our services are extensible covered through additional descriptions on our website, we may provide you with software libraries or application programming interfaces (API) that can be used to access the services or additional resources that are available to you from our website.
Upon registering a Payswif account you are agreeing to adhere to the terms and conditions of this agreement in it’s full entirety and may not subject any one particular to indemnify any others through claims of legal action.
In conjunction with, you are required to agree to the additional:
Acceptable Use Policy
You also agree to adhere to the electronic consent clause of this agreement, which you acknowledge is a legal form of consenting or signing into this and other accompanying policies. We reserve the right to amend this agreement and any of the other policies list from time to time and will take immediate effect after notifying of its publication. If you disapprove of the changes you are allowed to terminate your agreement in accordance of this agreement and the applicable guidelines, clauses and effects of termination will take effect.
Section 1: Payswif Account
Payswif operates as a Pay as you use service with a semi-unbanked framework. You are not required to have a banking or financial account linked to your Payswif Account beit (Personal or Business). Payswif offers two main account types. Personal and Business, both accounts only differ in the limits applied for the services offered by Payswif in accordance to compliance and laws in the country of Payswif’s operations.
Opening a Payswif Account
Upon registration of your account, you will be asked to provide information that identifies you or the company that will be using either of the account types accordingly. Please ensure to check our AUP. You will then agree that the information you provide is truthful and unaltered for the sole purpose of your account creation.
Business accounts will require additional documentation and verification, you may be asked to provide but not limited to; business account registrations, bank statements, receipts or invoices,identification of authorized personnels associated with or owners of the business. we reserve the right to accept, approve, disapprove, ban, lock or terminate existing accounts that violate or terms and conditions or any other policies of Payswif.
Personal accounts can be upgraded at anytime but must require the same steps as outlined above. Personal accounts are means for consumer usage with low volume transactions.
The information provided to Payswif for both account types must be valid and match the Payswif account ID which uses a mobile phone number as it’s secondary system ID which ensures easy account management. Both accounts require phone number verifications before registration and are used as a second level authentication within Payswif.
Account Termination, Suspension
We have the right to cancel, disapprove, block for any reason your registration should it be in breach or not in the best faith of Payswif. Your account will remain under supervision for activities within an undisclosed period of time known only to the department responsible.
Your account registration verification must be completed through sms, a code verification to ensure that your Account ID (“Mobile/Landline Number”) is of your possession.
Using our services, your name (or the name used to identify you or your business) and URL may appear on your Customers’ bank or other statements and within the Payswif System. You are responsible to clearly outline your business activity or conduct to your Customers.
You must only use our services to facilitate transactions as described; You may use our services to send money to others of the Payswif Network in accordance to the limits imposed by your account type and compliances of Payswif operations within the recipients country, to conduct any personal or business transactions for business services such as; Bill Payments, Food & Beverage Purchases, Hotel & Car Hire Booking services, Medical & Educational Services, Arts. Please inquire with us directly if your intended use of our services are in compliance before proceeding to conduct such transactions.
Both accounts allows Users to;
Closing your Account
You are allowed to close your account at anytime and terminate this agreement with us. You will however remain obligated to fulfill any requirements prior to the termination. You affirm that your balance must be withdrawn before your account can be closed, negative balances as result of fines or fees must be paid in full.
You may not be allowed to close your account in cases where you are under investigation by the authorizes that govern you or Payswif based of operations., for opened or pending disputes and negative account balances.
Dormant Accounts are to be closed after 48 months of no activities, with remaining balances passed over the the appropriate authorizes. Payswif will not pass any balances to family members or associates without explicit instructions by the account holder. Should death or unfortunate event proceeds that renders the account holder incapable of providing such instructions, the balances will go to any appropriate authorizes which handles as such. Notifications and reach for communication will be made public, using existing contact information store within a dormant account will also be used. After 60 days of no response, the process of dormant account termination and transfers will begin.
At any time during the terms of this agreement and your use of the services, we may require additional information from you to verify beneficial ownership or control of the business or account being used to validate information you provided, verify you or your Representative’s identity, and assess the risk associated with your business or personal account usage.
Changes to Your Payswif Account
You agree to keeping your Payswif Account information current and must promptly update with any changes affecting you, the nature of your business activities, your representatives, beneficial owners, principals, or any other pertinent information. We may suspend your Payswif Account or terminate this Agreement if you fail to keep this information current.
By registering for a Payswif Account, you agree that the registration constitutes your electronic signature, and you consent to electronic provision of all disclosures and notices from Payswif , including those required by Law. You also agree that your electronic consent will have the same legal effect as a physical signature.
Available Payment methods
The nature of Payswif’s semi-unbanked design allows Non Payswif registered customers the ability initiated payments via credit or debit cards, in the main currency of USD from Visa or MasterCard options. Registered customers or users of Payswif can still enable direct debit or credit payments within the system or use their Payswif Account Balance with our digital currency “Swifcash” to complete payments.
Supported Currencies include; USD & Eastern Caribbean Dollars (EC). You are responsible for any loss in conversion between both currencies at any given time.
Issuing card payments by visa or mastercard. Payswif does not store a customer’s credit card information within our servers.
Payswif Balance “swifcash”
Payswif Account Balance that is either topped up or recharge by using credit/debit card, bank transfer, local Agent, amount added by result of sales.
Payswif Prepaid Card
Our custom development payment card system, which uses NFC technology linked to a user’s Payswif account can also be used to facilitate payments, through Point of Sale systems and Smart Kiosk machines.
To unlink a Prepaid card, please enter into your account dashboard and select unlink permanently or temporary disabling of your Prepaid card.
Withdrawing your Balance
You affirm that transactions that sum your Payswif Accounts balance can be withdrawn only in cash in the sum less than or equal to $2000 EC at our base of operations in the countries listed or by any of our approved Agents. Amounts of greater value must be Direct-Deposited to a financial institution supported by Payswif. Wire transfers are also possible with regards to additionals fees being processed by you and or the receiving entity.
You affirm that Direct-Deposits or wire transfers can be withdrawn and reflected between 12-72 business hours for local and regional territories and 3-5 business days for USA, Canada & United Kingdom.
Payswif does not automate the transfer process of funds from your account balance to any Payout accounts that might be linked within your Account dashboard.
You affirm that Payswif provides a pooled environment of funds with our various banking providers to enable the services we deliver. These amounts are accounted for every account within the system and does not go towards risk investments neither cooperate expenses.
At any time, Payswif may delay withdrawals from accounts if we suspect incorrect information or fraudulent pampering within a user’s account or misuse of our service in accordance to our AUP.
Account activity Statements
You are provided Full activity statements from within your Payswif Account Activity Page, you affirm that Payswif does not allow modifications or alterations to existing transaction that will result in a completely new transaction. Non-affecting balance amending transaction records can be added to your transaction activity based on the discretion of Payswif.
Your account activity can be downloaded in a CSV file formation from within the activity page.
You an authorized account representative must affirm to Payswif that both parties are aware of the actions and has permissions to conduct further representation. Your representative also becomes a legal binding party to the terms of this agreement and you are liable to the actions of him/her and vice versa.
We may require you or your Representative to provide additional information or documentation demonstrating your Representative’s authority.
Without the express written consent of Payswif , neither you nor your Representative may register or attempt to register for a Payswif Account on behalf of a user Payswif previously terminated from use of the services.
Your account does not incur any registration or annual fees as of the time of this agreement was made. As outlined below, you only pay fees when you receive a payment or conduct money transfers, account security options can enhance your overall account protection and may incur fees for example; SMS notifications to designated numbers. Please read more about our pricing via our website.
Section 2: Money Transfers and Buying
Payswif allows you to send money to other users within the network, Peer-to-peer “P2P”, based on your account type you will have transfer limits applied in the total amount being sent within a span of 30 days.
You cannot use money transfers as a subtitle for payments and if found in violation to this your account terminated with a fine may be applicable. There is a fee applicable for each transfer made, please view our pricing page.
Buying from Sellers, using Smart Kiosk Machines
You can buy or pay for products and services offered by businesses or personal account holders using Payswif.
You are required to read the seller’s policies before you conduct any purchase or payments, you accept that Payswif is not directly liable for any loss through the negotiations of refunds with these sellers. Please read the refund section for more information.
Sellers that do not have a payswif account would not be able to accept any of our Payment methods. Ask your seller to register a Payswif account on our website.
When making a purchase from a seller, using our smart kiosk systems or POS systems that accept Payswif as a payment option you do not pay a fee. Debit-credit card providers may charge their own separate fees outside of Payswif. Currency conversions may be applied in some transactions using USD.
Payments may be refunded directly to your Account Balance or to the card payment provided option used. Refunds must first be queried with the seller and if unresolved , it will be escalated to us. You are required to read the sellers policies before you conduct any purchase or payments, you accept that Payswif is not directly liable for any loss through the negotiations of refunds with the sellers. We do however monitor and apply appropriate fines and actions to repeated offenses.
Preferred Payment Method
As stated above, you have the choice of using your Payswif Account Balance, Payswif Prepaid Card or Card Processing for Credit and Debit Card Payments.
Using your Payswif account or Prepaid card to make payments allows you to track payments and manage features that is not available for card processing payments.
Topping Up Your Account
As a result of design, Payswif’s semi-unbanked system allows you to transfer funds to your account on a day to day basis, enhancing your security .
Topping up your account via a local agents always the most cost effective option when compared to topping up your account via credit-debit card or making direct credit or debit payments.
Payswif Prepaid Cards
Your Payswif prepaid card maybe obtained from a business partner of the Payswif Network and branded with their images, text and logos. You can still make purchases to any Payswif accepted entity or Smart Kiosk Machines, look for the powered by Payswif Logo on your Prepaid Card.
Some branded business Payswif Prepaid cards may make use of our rewards or accounts APIs which will allow them to offer more convenience to their services.
You affirm that Payswif has no liability to how these companies execute or manage these API endpoints, we advise that you read their usage policies that every company must provide for their custom branded Payswif Prepaid card.
Some businesses may choose to share rewards or link accounts across multiple businesses of the same or different affiliates and or departments.
Claims or disputes
When products or services were not delivered , arrived damaged, or not as described within the sellers description your first course of action is to contact the seller or service provider. Payswif ensures that these sellers state or issue a terms of service, refund policy and delivery policy publicly to all potential customers. It is your sole responsibility to review a sellers policies before making a purchase, Payswif will not be held accountable for any losses if you failed to read the mentioned policies.
Opening a Case
We strive to protect our buyers and service users on both ends of the transactions and will further investigate any claims or disputes. Holding the seller or buyer accountable is the final verdict after an opened case is closed. Sellers and buyers may face penalties or fines for fraudulent or abuse of the Payswif System and or bad ecommerce practices which can result in account termination or suspension without notice.
Cases more that 45 days old, without response from either party will be assessed by Payswif and a final verdict will be made on the information provided.
Additionally, upon opening a case; please provide to Payswif any and all evidence of the completed purchase with example; screenshots, receipts and photos of the product or service received. These can better help us determine the outcome of the case.
Items that may not be covered by our protection;
Payswif does not encourage or advocate these types of transactions due to the nature of their construct in regards to legalities or technical anomalies. We will not cover or open cases for these purchases and are at your sole discretion to proceed knowingly the risk of purchasing. Payswif will not be accountable for any loss or held to legal action thereof.
Real estate or properties
Financial products or investment schemes ( business, venture funding)
Automobiles ( cars, trucks vans, motorcycles. etc)
Custom-made Items or constructs (Machinery,parts)
Crowdfunding or cash options
Prohibited Items within our Acceptable Use Policy
Section 3: Selling and Receiving Payment
Receiving Payments for products or Services
Payswif accounts both Personal and Business holders are required to pay the transaction fee forthwith upon receiving a payment. You must not ask buyers to use vouchers, local agents or money transfers to negate payment fees, this can result in account termination or suspension.
Obtaining your Custom Branded Payswif Prepaid Cards
As a business account holder you are allowed to create custom branded Prepaid Cards that will be linked to a user’s Payswif account. These prepaid cards can enable your business to use faster face-to-face and Point-of-Sale payments or enable use of your Kiosk App through our Smart Kiosk Machines.
You can also take advantage of using our Accounts API which allows your customers to link your business to their payswif account directly, which enables faster use of the Smart Kiosk Machine with your Kiosk App. You can also offer loyalty, or your custom points to users accounts via our Rewards API.
You affirm that you must provide policies to illustrate your clear usage of the APIs linked to your Business Branded Prepaid Cards.
There is a cost associated with each printed card, this cost must be covered by you or the user receiving it. Please contact us for more information.
Payswif fees do not include taxes of any kind. It is your sole responsibility to ensure that if taxes are applicable to you or your business you must retrieve and report them within the transactional process and provide accountability to the necessary authorities.
Payswif will routinely make reports to the necessary tax authorities regarding transactions we process to ensure compliance with the authorities of country or state of operations.
Listing Products & Services
When selling products or services, you are required to be very descriptive, truthful and faithful to completing the purchase to the customer. You must provide policies in compliance with our delivery & refund
You will pay the transaction fees forthwith upon receiving a completed payment, refunding a transaction will return the full amount received to your Account balance for that transaction. Payswif reserves the right to amend and or implement new fee structures at anytime. The standard fee rate can be subject to reduction at Payswif’s discretion. Please contact us for more details, you can view fees via our website’s pricing page.
You are responsible for issuing refunds for goods and services bought from you or your business. The full amount must be returned with any fees applicable, should the customer request a refund or a chargeback dispute is made, you are responsible for the chargeback fees associated.
Payment are subjected to automatic reversal or refunds should;
You affirm that Payswif reserves the right to engage in actions, legal or not to recover amounts owed to the company by you or your business for transactions within the system.
Smart Kiosk Apps
As a business account holder, you can request a custom developed App for use on your Smart Kiosk Machines in various locations. You are required to meet compliances that secure the communication and processing of data with your Application Flow/Code implementation.
You must provide policies that outlines the usage, privacy, refund and delivery of goods or services purchased through your KAPP. Please visit our pricing page to find out more details.
Smart Kiosk Machines
As a business account holder you can host one of our smart kiosk Machines within your location of operations and obtain revenue for doing so per each transaction along with a fixed hosting payout to your account monthly.
You are required to meet compliances with security measures, liability for damages of unauthorized use or accidents.
You may be eligible for fee reductions or other applicable reductions determined by Payswif.
Payswif provides its developed API and technologies that can be used to access the services it provides as outlined via its website and documentations most of which is manageable from your Payswif Account dashboard or through direct partnership communication with Payswif.
You are not allowed to use our API for any other function or feature not described in the documentation or outline via the website. API documentation and technologies are subjected to updates to ensure security, functionality and growth of the Payswif Services in the form of removal, additions or depreciations. Payswif will provide notices in accordance with this agreement where applicable.
Available to you may be Live & testing environments, demo or protype enabled devices upon request for your development needs.
Acceptable User Policy
You must accept this policy in its entirety along with any other policies provided by Payswif.
Actions requiring approval includes, gambling, lotteries and sweepstakes should the customers are within locations where these activities are legal.
You are not allowed to use Payswif for the following Actions:
Please read how and for what reasons we may share your data;
Refund, Returns, Cancellation & Delivery Policy
It is our goal to ensure the protection of sellers and customers that use the Payswif platform. Please ensure to read all areas of this and other policies listed in this document carefully, should you not agree, cancel or terminate any and all transactions forthwith.
Agreement as a Seller
You affirm that Payswif is not required or to be held accountable for not reviewing each and every sellers policies at the time of creation, modification, adjustments or amendments.
You affirm that you will provide to your customers your business/seller policies in non-conflicting coordination with the terms within this policy, and all other policies of Payswif, you agree to cross-link to this policy from the Payswif website as a reference to customers.
Failure to comply with these terms may result in your account suspension, balances frozen, fines or warnings and full account termination in accordance with this and other Payswif Policies.
Agreement as a Customer
You are responsible as a customer to review the policies of the seller in accordance with Payswif Policies, should you not find any policies of the seller, you agree to not complete any transactions with the seller.
Return, Cancellation, Refund & Delivery
Your policy directed to customers of Payswif must at a minimum for the purpose of;
Product or Services (Non-recurring);
As a seller you must provide a realistic delivery timeframe to which a product or service will be fulfilled to your customer. This information must be clearly visible to the customer from your website’s product or services pages and at checkout. As a customer it is your sole responsibility to seek out the delivery timeframe and or applicable costing for returns and if the cost is covered by the seller or by you.
As a seller you must indicate your return terms to which cost are covered by you or the customer, the approved time frames in which the returns must be commenced is also required.
For the timeframes or terms that are not mentioned within this document that fits the criteria of a customer’s dispute or claims, you as the customer affirm that it is of the sole discretion of the seller to issue a refund.
Refund, Cancellation, Loss or Claims and Disputes, Chargebacks
You affirm that the first point of contact for any of the following; refund, cancellation, loss or claims and disputes to this section must be conducted with the seller directly.
Should the seller be unresponsive at a minimum of three (3) days within the timeframe bond to their policies in accordance to this and our other applicable policies you are allowed to open a case with Payswif. Please visit our Usage, Terms and Conditions to review the applicable measures for opening and providing proof towards your claims or disputes with a seller.
Loss or Claims
Payswif is not liable for any result in loss or damages to you or your business, with your affirmation that no legal action thereof can or should be taken against Payswif or any of the direct employees or partners. You agree to this policy in its entirety as an account holder of Payswif customer or seller, or Non-Registered User (customer).
Payswif will alert a seller and may suspend a withdrawal based on a chargeback initiated from a customer’s card provider. Should the chargeback be accepted valid by the provider, as the seller you are required to pay any fees associated with the total amount of the chargeback to Payswif. We may reduce, deduct or negate a balance from your account until all fees are paid in full.