Terms of Service
TERMS UPDATED ON JANUARY 10, 2019
These Terms of Service ("the Terms") govern your use of the products, services or any other features, technologies or functionalities (the "Services") provided by AtomicPay (we, our, or us) through AtomicPay's website, API or through any other means. The terms "you" and "your"" refer to the merchant to which we will be providing the Services or the person agreeing to the Terms on behalf of the merchant. Please read the Terms carefully; by using the Services, you agree to the Terms and confirm that you accept them.
1. The Services
We are a non-custodial cryptocurrency payment processor. We enable you to accept cryptocurrency as payment for goods or services, directly from your customer (Purchaser), in a secured and trustless environment. We are a payment solution but we do not store or withhold any of your funds. We do not act as a middleman or proxy during the payment process between you and your customer. Payments are made directly to your wallet and you have immediate ownership of funds, whenever your customer pays you. AtomicPay is an entirely P2P payment solution, with the convenience and benefits of a payment processor. We are not a cryptocurrency exchange, wallet, or a platform to buy or sell cryptocurrencies. Our Services are only available to businesses or individuals that sell a product or services or to registered charitable organizations that accept donations.
In order to use the Services, you must open a AtomicPay account. When you open an account, we will ask you for contact information such as your name, email address, and information relating to the ultimate owner of the account. The information that you provide at the time of account opening must be accurate and complete and you must inform us within ten business (10) days of any changes to such information. KYC ("Know Your Customer") is not a requirement, however you may choose to lower the processing fees ("the Charges") by submitting documents to comply with our KYC process.
2.2 Protecting Your Password
You will choose a password when registering your account. You are responsible for maintaining the confidentiality of your password and account access information. You are fully responsible for all activities that occur with the use of your password or 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. You may not use anyone else's password or account at any time.
3. Your Sales
3.1 Transaction Volume Limits
AtomicPay imposes daily and annual transaction processing limits on merchant accounts that have not comply with our KYC verification. While KYC is not a requirement, these limits are necessary to prevent money laundering and illicit activities. The transaction limits should not have drastic effects for individuals or small medium businesses. If you know that you are already handling high volume of sales, please consider to comply with our KYC verification to remove transaction limits. Requests to remove your transaction limits will not be approved unless and until we have reviewed your documentation to our satisfaction and have confirmed the accuracy and authenticity of the information therein.
3.2 Invoices and Records
AtomicPay does not require any identifiable or sensitive personal information of your customer (Purchaser). You must keep all records needed for fulfilling the goods or services sold to the Purchaser and providing any post-sale support to the Purchaser. If the sale of the item requires any government registration of the sale, you are responsible for such registration. AtomicPay is required to maintain records of all documentation and usage or transactional information collected for your merchant account for the duration that your account is active, and up to 10 years thereafter.
3.3 Customer Verification
Consistent with your local laws and regulations, you are solely responsible for obtaining any information required of those who purchase your goods or services. For instance, if applicable law prohibits a sale to persons under the age of 18 years, you must ensure that a Purchaser is at least 18 years of age. Similarly, if applicable law requires that a Purchaser's identity be verified, you must verify the Purchaser's identity. We will not be responsible for your failure to adequately verify your Purchasers' identities or qualifications.
3.4 Representation and Warranties
Use of the Services is subject to the laws and regulations of Thailand regarding the prevention of terrorist financing, anti-money laundering and illicit activities. You agree and acknowledge
that your use of the Services would and will comport with such laws and regulations, including, without limitation, the United Nations Security Council Sanctions Lists complied by
the Government of Thailand.
Your use of the Services is also subject to the following important restrictions:
- You are at least eighteen (18) years old or older and have the right, power and contractual capacity to agree to these Terms.
- Your use of the Services will not contravene any applicable international, federal, state or local law or regulation, including applicable tax laws and regulations.
- Your use of the Services will not relate to the following prohibited activities:
- sales of narcotics, research chemicals or any controlled substances;
- sales of cash or cash equivalents, including items used for speculation or hedging purposes (such as derivatives), and the sale or trade of virtual currencies;
- sales of items that infringe or violate any intellectual property rights such as copyrights, trademarks, trade secrets, or patents;
- sales of ammunition, firearms, explosives (including fireworks), or weapons regulated under applicable law or as determined by us;
- transactions that show the personal information of third parties in violation of applicable law;
- transactions that support pyramid, Ponzi, or other "get rich quick" schemes;
- transactions that provide credit repair or debt settlement services
- If your use of the Services relates to one of the following restricted activities, your activities are subject to internal review and you are only allowed to transact when
expressly authorized by AtomicPay in writing:
- Engaged in Foreign Exchange, Money Service Business activities or E-wallets;
- Providing Currency exchange services;
- Transactions that are associated with purchases of annuities or lottery contracts, lay-away systems, banking, offshore banking, transactions to finance, investing, investment related products or
- 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 customers are located exclusively in jurisdictions where such activities are permitted by law.
3.5 Our Right to Reject
We reserve the right to decline to process a sale if we reasonably believe that it violates these Terms or would expose you, other merchants, Purchasers, or other parties to harm or financial losses. If we reasonably suspect that your AtomicPay account has been used for an illegal purpose, you authorize us to share information about you, your AtomicPay account, and your account activity with law enforcement.
4. Third Parties
4.1 Your Use of Third-Party Services
In using the AtomicPay website or the Services, you may be offered services, products and promotions provided by third parties. If you decide to use these third-party services, you do so at your own risk and are solely responsible for reviewing, understanding and complying with the associated terms and conditions. We expressly disclaim any liability for the third-party services and are not responsible for the performance of the third-party services or providers.
We have implemented 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. Our Ownership of the Services and the AtomicPay Website
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 AtomicPay website, the content displayed on the website, and other materials produced by and related to AtomicPay (collectively, the AtomicPay IP). You are only permitted to use the Services and the AtomicPay IP 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 AtomicPay IP, without the right to sublicense. You shall not rent, lease, sublicense, distribute, transfer, copy, reproduce, download, display, modify or timeshare the AtomicPay IP or any portion thereof, or use the AtomicPay IP 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 AtomicPay IP, nor shall you translate, reverse engineer, decompile or disassemble the AtomicPay IP.
6. Invoices, Rates, Fees and Exceptions
6.1 Invoice Generation and Exchange Rate Guarantee
AtomicPay's hosted invoice user interface (UI) shall be used during the payment process. To create an invoice for your Purchaser, you may post a request to AtomicPay to collect a specific amount in any of the
supported cryptocurrencies. AtomicPay will pull the exchange rate, where applicable, and provide the payment instructions to you or your customer (Purchaser). We set exchange rates for
fiat currencies using the Bitcoin Average API and market depth from major exchanges. We guarantee the exchange rate to you as long as the Purchaser pays within the expiration time
window after the invoice is created. Invoice expiration information is clearly displayed on each AtomicPay invoice. While we guarantee the exchange rate as long as the Purchaser pays
within such time window, you agree that you assume the volatility risk of your local currency or the applicable cryptocurrency.
An invoice is considered complete by us after the payment has six (6) block confirmations. You have the option to inform your Purchaser earlier about the status of the invoice, however please note that AtomicPay is not liable for settling invoices with a payment that never receives six (6) block confirmations. AtomicPay employs techniques to detect payments that are at risk of never receiving six (6) block confirmations, however these measures do not completely eliminate the risk associated with unconfirmed or invalid payments.
6.2.1 Merchant Fees
We charge a flat rate processing fee per transaction, with no hidden charges. Our plans are based on post-paid charging model. Merchants only pay for their usage at the end of the month. In addition, we offer merchants the option to top-up their account with pre-paid credits which will be used to offset billing invoice automatically at the end of each month.
6.2.2 Purchaser Fees
Cryptocurrency transactions require a miner fee. These miner fees are automatically created by the Purchaser's wallet and sent to the Network miner. These miner fees are not collected by AtomicPay. The miner fees paid to the Network determines the speed of transaction and are irreversible.
6.3 Payment Exceptions
In certain situations when an invoice is underpaid, overpaid or paid after an invoice has expired, it will result in a payment exception. You can check payment exceptions from the AtomicPay merchant panel.
6.3.1 Underpaid Invoices
Underpayments occur when the Purchaser sends less than the full amount required to mark the invoice as fully paid. Since the invoice is not fully paid or complete, you should not process the order of Purchaser. Instead, please contact the Purchaser to arrange for a refund or request a new payment for the due amount. If Purchaser's email is provided during the invoice generation, AtomicPay will send an email to the Purchaser to inform the Purchaser of underpayment.
6.3.2 Overpaid Invoices
Overpayments occur when an invoice receives excess funds. In cases such as this, the invoice will be marked with Exception Status ("Overpaid") and you are required to contact Purchaser for a refund of the excess funds. If Purchaser's email is provided during the invoice generation, AtomicPay will send an email to the Purchaser to inform the Purchaser of overpayment.
6.3.3 Paid After Invoice Expired
Expired payments occur when a transaction is received outside the time window referenced in Section 8.1. In cases such as this, the invoice will be marked with Exception Status ("Paid After Expiry") and you are required to contact Purchaser for a refund or coordinate with the Purchaser on the order process. If Purchaser's email is provided during the invoice generation, AtomicPay will send an email to the Purchaser to inform the Purchaser of expired payment.
7. Refunds and Complaints
7.1 Refund Procedures
Due to the design of our non-custodial solution, AtomicPay does not have the ability or permission to process outgoing transactions on behalf of merchants. In the event of payment exceptions, you are required to process refunds to Purchaser manually.
7.2 Disclosure of Your Refund Policy
AtomicPay is not responsible for Merchant refund policies. We do suggest Merchants to have a clear refund policy for their customers (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.
7.3 Purchaser Complaints
Purchasers filing complaints with AtomicPay about a purchase will be forwarded to you for resolution. AtomicPay reserves the right to terminate accounts which receive excessive complaints.
7.4 Merchant Complaints
8. Account Termination
8.1 Your Right to Close Your Account
These Terms apply only for as long as you use the Services. Once you cease using the Services, these Terms no longer apply, subject to Section 12.11 (Survival). You may close your AtomicPay account at any time. You will still be obligated to us for any fees incurred, if applicable, before the closure.
8.2 Our Right to Close or Suspend Your Account
We may terminate your account, at our discretion, upon notice 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 the public, 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 our closure or suspension of your account. Additionally, if your merchant account does not have a paid transaction for more than twelve consecutive months, AtomicPay reserves the right to suspend your account, disabling processing capabilities.
8.3 Effect of Account Closure
If your AtomicPay account is closed, you agree: (a) to continue to be bound by these Terms, as required by Section 12.11 (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.
You agree to indemnify AtomicPay, 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 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.
10. No Warranties
WE PROVIDE THE SERVICES ON AN "AS IS" AND "AS AVAILABLE" BASIS, AND YOUR USE OF THE SERVICES IS AT YOUR OWN RISK. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE PROVIDE THE SERVICES WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED (INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT). WITHOUT LIMITING THE FOREGOING, WE DO NOT WARRANT THAT THE SERVICES (AND OUR WEBSITE): WILL OPERATE ERROR-FREE OR THAT DEFECTS OR ERRORS WILL BE CORRECTED; WILL MEET YOUR REQUIREMENTS OR WILL BE AVAILABLE, UNINTERRUPTED OR SECURE AT ANY PARTICULAR TIME OR LOCATION; ARE FREE FROM VIRUSES OR OTHER HARMFUL CONTENT. WE DO NOT ENDORSE, WARRANT, GUARANTEE OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE OFFERED OR ADVERTISED BY A THIRD PARTY THROUGH THE SERVICES OR THROUGH OUR WEBSITE, AND WE WILL NOT BE A PARTY TO NOR MONITOR ANY INTERACTIONS BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.
11. Limitation of Liability
IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR ANY LOSS, THEFT, DISAPPEARANCE, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST DATA OR OTHER INTANGIBLE LOSSES THAT RESULT FROM THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SERVICES, REGARDLESS OF THE FORM OF ACTION AND WHETHER OR NOT WE KNEW THAT SUCH DAMAGE MAY HAVE BEEN INCURRED. IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING, VIRUS TRANSMISSION OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES, YOUR ATOMICPAY ACCOUNT, OR ANY INFORMATION CONTAINED THEREIN. IN NO EVENT WILL OUR LIABILITY FOR ANY DAMAGES ARISING IN CONNECTION WITH THE SERVICES EXCEED THE FEES EARNED BY US IN CONNECTION WITH YOUR USE OF THE SERVICES DURING THE 6 MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY. THE FOREGOING LIMITATIONS OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
You are responsible for determining any and all taxes assessed, incurred, or required to be collected, paid, or withheld for any reason in connection your use of our software and services ("Taxes"). You also are solely responsible for collecting, withholding, reporting, and remitting correct Taxes to the appropriate tax authority. We are not obligated to, nor will we determine whether Taxes apply, or calculate, collect, report, or remit any Taxes to any tax authority arising from any transaction.
You may not transfer or assign these Terms, or any rights granted by these Terms. You agree and acknowledge that we may assign or transfer these Terms.
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.
Our failure to assert any right or provision in these Terms shall not constitute a waiver of such right or provision, and no waiver of any term shall be deemed a further or continuing waiver of such or other term.
12.6 Entire Agreement
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".
12.8 Governing Law; Arbitration
This Agreement will be governed by and construed in accordance with the laws of Thailand without reference to conflict of law or choice of law provisions, and applicable international law. If a disagreement or dispute in any way involves the Services or these Terms and cannot be resolved between you and us with reasonable effort, the disagreement or dispute shall be resolved exclusively by final and binding administration by jurisdiction of the courts of Thailand. You agree that the arbitration shall be held in Thailand , or at any other location that is mutually agreed upon by you and us. You agree that the arbiter will apply the laws of Thailand, and will honor and agree to all applicable statutes of limitation. You agree that, unless prohibited by law, there shall be no authority for any claims to be arbitrated on a class or representative basis, and arbitration will only decide a dispute between you and us. Arbitration proceedings must be initiated within one (1) year after the disagreement or dispute arises. If any part of this Arbitration clause is later deemed invalid as a matter of law, then the remaining portions of this section shall remain in effect, except that in no case shall there be a class arbitration.
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 AtomicPay account per the termination section of this agreement and discontinue your use of the Services.
12.10 Force Majeure
Neither you nor we will be liable for delays in processing or other non-performance caused by events such as fires, telecommunications, utility, or power failures, equipment failures, labor strife, riots, war, nonperformance of our vendors or suppliers, acts of God, 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.
The provisions of Sections 3.4 (Representations and Warranties), 4.2 (Security), 5 (Our Ownership of the Services and the AtomicPay Website), 9 (Indemnification), 10 (No Warranties), 11 (Limitation of Liability), and 12.8 (Governing Law; Arbitration) shall survive the termination of these Terms.