Merchant Acceptance Policy

Any translation of the English version of this Agreement is provided for convenience only and only the English version shall be legally binding.

1. Introduction

LavaPay Payment System allows merchants to accept LavaPay e-currency as well as supported payment methods for online businesses. Supported payment methods may additionally impose specific requirements and restrictions on the business type as well as merchant acceptance. The following requirements are mentioned on the relevant pages of the payment method activation.

At LavaPay we are guided by a value system that is steadfastly focused on building relationships with companies who do business with trust and integrity. Only merchants who comply with this policy, and the guidelines reflected below, will be approved.

These guidelines will be updated and varied periodically. In addition, where a merchant is already approved, LavaPay may suspend or withhold their service from merchants if they no longer meet the criteria required, as may be determined from time to time.

2. Limitation of Liabilities

You acknowledge that LavaPay is solely providing a payment service and that some limitation of liability on LavaPay Company's part is reasonable and customary in an Agreement such as this. Accordingly, you agree that LavaPay shall not be liable for:

  • Any validation provided by LavaPay not being acted upon by a Participating Merchant for any reason;
  • Any delay or failure to carry out LavaPay Company’s obligations under this Agreement arising from maintenance or upgrade of the system, or failure of the system or other event beyond our reasonable control;
  • Any loss or damage (including direct, indirect or consequential loss or damage or loss of profits, business, revenue or opportunity) arising from any delay or failure to carry out LavaPay Company's obligations under this Agreement.

3. Termination and Indemnity

We may block or terminate the account and the contract with any client immediately if we suspect any fraud or misuse of a LavaPay e-payments occurring, if we have other security concerns or we need to do so to comply with the law. The remaining account balance may be used as a compensation for the losses due to damage to the image and reputation of the Сompany. This is valid in case it is suspected that LavaPay Policies and requirements have been violated both intentionally or unintentionally.

You hereby indemnify and agree at all times to hold LavaPay harmless from and against all losses, demands, claims, damages, expenses (including reasonable legal costs) and liabilities arising from any third party claim resulting from your use or misuse of the LavaPay payment system, or for harm suffered directly or indirectly by LavaPay as a result of your breach or non-observance of your obligations under this Agreement.

4. Requirements for Merchant Approval

The LavaPay Service will not approve a merchant if:

  1. The website or activity undertaken will be deemed oriented to any sensitive and negative subjects listed in the “Restricted Business Categories” below.
  2. The merchant has not provided all the information required for KYC (Know Your Customer) purposes to the complete satisfaction of LavaPay.
  3. All rights, licenses, permits and authorisations necessary to enable the merchant to operate the business and comply with all relevant laws and regulations are not obtained. For gaming merchants this will include a valid gambling licence issued by a recognised authority. All companies will need to submit a copy of the Company registration documents (Certificate of Incorporation) and Company Statutes (Memorandum & Article of Association) as a minimum.
  4. There is significant derogatory background information about the merchant and/or any person, body or organisation associated directly or indirectly with the merchant. This will include directors, employees, partners, principals and shareholders. LavaPay has the right to request any information in this regard from the appropriate sources including using credit reports, trade and bank references, criminal records, PEP, OFAC and other sanction databases, personal and business financial statements and tax returns.
  5. A valid URL address is not linked to a working website or will not exist prior to the merchant being activated. The URL must link directly to web pages that contain information about the merchant’s service or products. Links that redirect through or to domains other than the one specified in the LavaPay merchant account settings will not be accepted.
  6. LavaPay is not given full and unfettered access to the merchant’s web site at any time as reasonably determined by LavaPay.
  7. In the sole opinion of LavaPay, false, confusing or misleading statements are made directly or indirectly by the merchant or if there is a failure to disclose a material fact about their programs, products or services, or any aspect thereof.
  8. The procedures and controls required by LavaPay, including Anti Money Laundering and Anti Terrorist Funding controls, are not implemented.

5. Requirements for Authorized Exchangers Approval

General Terms:

  1. "Exchange operations" - business activity related to purchasing, selling or exchanging third-party financial instruments, including cash, e-money and banking exchanges, from personal funds and (at your own) costs; "Exchange Service" – created by verified LavaPay account holder service to perform exchange operations publicly with other LavaPay registered(verified or unverified) account holders.
  2. Exchange operations involving cash funds in local or foreign currency from personal funds in your own name carried out as a business activity (that is on commercial basis) can be performed only by verified LavaPay account holder, who have undergone an identity check.
  3. For activities, breaching the terms of the given document, the User is hereby subject to the liabilities, namely:
    - performing commercial exchange operations without registering as a Merchant at the Exchange Services leads to temporary account suspension of the Exchange Service and any other users, involved in its activity/functioning until full elimination of the rules' breach and compensation to the affected party upon a our decision;
    - Performing commercial exchange operations for the unidentified or third party and violating the payment reference (comment) field requirement leads to temporary account suspension of the Exchange Service and any other users, involved in its activity/functioning until full elimination of the rules' breach and compensation to the affected party upon our decision;

Starting exchange business by LavaPay account holder.

  1. To start an exchange business, a LavaPay account holder has to verify his account.
  2. Fill exchangers form out
  3. add "We accept LavaPay" button to the website
  4. Implement payments via LavaPay check-out system

Authorized Exchanger's obligations.

  1. Authorized Exchanger has no right to hold clients money for longer that 24 hours after receiving client's funds.
  2. Exchange order has to be completed(paid out) not later than 24 hours after LavaPay transaction is credited into exchanger's account.

Terms and conditions for exchange service businesses.

  1. Exchange websites must contain accurate, valid and unambiguous information regarding exchange rate and terms. All exchange transactions should be conducted as per published exchange rates and terms. Websites should contain the description of exact steps customers should take to complete the exchange.
  2. Exchanger has to pay all LavaPay fees. It is forbidden to exchanger take LavaPay fees from the client.
  3. It is forbidden for exchangers charge fee higher than 10%.
  4. Exchanger can't receive direct transfers via send money option. All incoming transactions into exchangers LavaPay account must be done via check-out page(It is not allowed to accept LavaPay payments manually)
  5. Exchanger has to include description to each exchange related transaction containing clients details(ewallet, FullName or cards number and etc: example - "order 12345 Paypal")
  6. Exchange from LavaPay can't take longer that 24 hours after LavaPay transaction is credited into exchanger's account.

6. Monitoring and Compliance

The LavaPay Security Department will, on an ad hoc basis, review live merchants to monitor compliance with the above guidelines. LavaPay will suspend or terminate a non-complying merchant, subject to the terms of the merchant’s contract.

A Merchant must not be involved or associated with any activities or materials which may infringe, dilute, denigrate, or impair the goodwill and/or reputation of the LavaPay brand.

7. Restricted Business Categories

LavaPay will not under any circumstances knowingly approve Merchants associated directly or indirectly with the following products or services:

  1. Terrorism, Racism and Violence: products and associated websites which in any way promote violence or advocate violence against a target group. A target group is distinguished by its race or ethnic origin, colour, national origin, religion, disability, sex, age, veteran status or sexual orientation/gender identity.
  2. Body parts: promotion, sale or dealings of nature in body parts or human remains or the non-consensual mutilation of a person or body part.
  3. Copyright unlocking devices: modchips or other devices designed to circumvent copyright protection.
  4. Abusing copyright or counterfeit goods: All products and services presented by merchants must respect copyright and trademark law. Unauthorised or "bootleg" copies of media, software, or other licensed or protected material will not be acceptable. In addition products that are replicas or imitations of designer goods without the appropriate announcement; products without a celebrity endorsement that would normally require such an association, fake autographs, counterfeit stamps, and other potentially unauthorized goods will also fall into this category.
  5. Drugs, drug paraphernalia, and drug test circumvention aids: promotion of illegal drugs and drug accessories, including herbal drugs such as salvia and magic mushrooms and drug test circumvention aids and products such as drug cleansing shakes and urine test additives. Tobacco products and alcohol.
  6. Illegal goods and services: materials, products, or information promoting illegal goods or enabling illegal acts e.g. illegal knives or other illegal weapons. Other examples included in this category are manuals, how-to guides, information or equipment enabling illegal access to software, servers, websites, or other protected property and products that descramble cable and satellite signals in order to obtain free service.
  7. False representation: fake IDs, passports, diplomas, and noble titles.
  8. Personal Information: content that includes contact or personal information about another individual without their permission.
  9. Adult Merchants associated directly or indirectly in either the URL or the homepage to child pornography and under age sex, bestiality, incest, rape, brutality, forced sex or prostitution and escort services. Pyramid Schemes, unregulated e-money and foreign exchange beneficiaries, get rich quick schemes, High-Yield Investment Programs are unacceptable but legitimate Multi-level Marketing businesses will be acceptable.
  10. Payment Services intended for a beneficiary from a website offering gambling services where it is strictly forbidden for citizens or residents of that country to receive such payments from such websites.
  11. Schemes that do not fully verify the identity of all parties involved and do not allow LavaPay full visibility and access to information relating to the entire transaction associated with a LavaPay e-currency.

8. Obligations

Merchant is hereby informed about all the requirements and agreements of using LavaPay electronic payment services, accepts them and agrees to follow and incorporate them into the business.

Merchant agrees to promptly, but not later than 2 working days, notify LavaPay using the Support Desk service of any changes in the status, type, category or other information related to the business.

Последняя редакция: 12 апреля 2016