Payment Terms

This Payment Processing Addendum (“Addendum”) amends and forms a part of the written or electronic agreement(s) (the “Agreement”) by and between the legal entity subject to the Agreement (“Customer”) and Company (as defined below), governing Customer’s use of the Company’s products and services (the “Services”). Capitalized terms not otherwise defined in this Addendum shall have the same definitions as in the Agreement.

1. PROCESSING SERVICES

In addition to its core services offering, Company makes available, through its payment processing channel relationships, embedded payments processing services, which includes credit card, debit card, ACH, and other payment processing services, as may be offered from time-to-time (collectively the “Processing Services”).

2. FEES AND TAXES

Related to the Processing Services, Company will charge Customer according to the fees listed below (“Processing Fees”). All Processing Fees payable under this Addendum are exclusive of taxes which must be collected or paid by Customer.

Card processing fees

Card Transaction Volume Fee: 2.9%
Card Transaction Per Item Fee: $0.30

ACH processing fees

ACH Volume Rate: 0.5%, Capped at $10

Ancillary fees

Chargeback, Dispute, or ACH Return: $29.00

3. FAIR USE FEE POLICY

Company may increase the Transaction Volume Fee or Transaction Per Item Fee if Customer’s (a) American Express credit card payment dollar volume exceeds twenty percent (20%) of total monthly credit card payments; (b) corporate credit card payment volume exceeds ten percent (10%) of total monthly credit card payments; or (c) payment returns and disputes exceed 1% of payments by dollar volume or transaction count. Such increases shall become effective only after Company has provided Customer with thirty (30) days’ written notice setting forth the proposed fee changes (the “Notice Period”). In such case, Customer may elect to terminate this Addendum by providing written notice to Company before the end of the Notice Period. Absent any notice of termination by Customer before the end of the Notice Period, such fee changes shall be deemed accepted by Customer.

4. DATA SHARING AND EXPORT

Customer authorizes the sharing of relevant Customer data and payment method data with Company’s authorized payment processing channel relationships as necessary for the provision of the Processing Services, and the export of such data to the Company of its designated representatives.

5. PROCESSING TERMS AND CONDITIONS

By using the Processing Services, Customer agrees to the Processing Terms and Conditions available at https://legal.rainforestpay.com/processingterms, which may be amended at any time on notice. Customer acknowledges that the Processing Terms and Conditions incorporated into this Addendum include a direct debit authorization, which authorizes Company’s payment processing partner (Rainforest Pay, Inc.) to retrieve funds from the Customer’s bank account if payment returns exceed proceeds from payments for a scheduled deposit.

6. TERM

The term of this Addendum begins on the earlier of the date Customer accesses the Processing Services or accepts the terms and conditions of the Payment Processing Addendum and continues until terminated by either party.

7. AGREEMENT

All other provisions of the Agreement remain in full force and effect, other than any provision that conflicts with the terms and spirit of this Addendum, which shall be deemed to be amended appropriately in order to be consistent with this Addendum.