These terms apply to all customers with payment institution type business accounts that receive services from payware LLC. If you have been directed to this page from within our product, these terms also apply to your account regardless of the country in which your business activity is registered. If you have any questions regarding which payware entity you receive services from, please reach out to customer service via support center.
These Terms incorporate the payware Framework Agreement by reference. The Framework Agreement contains general legal terms, platform safety rules, liability provisions, and administrative procedures that apply to all payware accounts and services. In the event of a conflict between these Terms and the Framework Agreement, these Terms shall prevail.
My payware payment institution account
This document sets out the terms and conditions for your payware payment institution account (the account) and its related services.
For the purposes of this Terms, a Payment Institution shall be defined as any legally established financial entity that offers payment services, as defined, and regulated by the relevant government or central bank authorities and has been granted authorization to provide such services. Examples of such institutions include, but are not limited to, banks, e-money operators, payment processors, financial institutions that specialize in payment services, digital wallets, and money transfer providers.
A payware payment institution account is a partner's profile definition in payware systems. It holds configurational information for your transactions and visualization preferences alongside any other related data required for the proper payware services operations.
Once you open your payware payment institution account you'll be able to use our services. For example, you can do the following:
We add new features and services all the time. We'll let you know about these through the payware business web portal or by email.
You can access the payware business web portal through the business web portal reference on our website. You manage your account through the payware business web portal, which only you and the appropriate authorized by you persons will have access to.
By accepting these terms and conditions you confirm that:
You must be over 18 to open a payware payment institution account, and you may only open it under this agreement for the business purposes of a regulated and licensed payment institution.
You must have the legal rights to represent a payment institution and have the authority to act and sign on its behalf.
When you ask to open your account, the following apply:
We will only give you access to your payware payment institution account, the payware business web portal and payware services once we have all the information we need.
You can't open more than one payware payment institution account or open a new payware payment institution account if we've previously closed a payware payment institution account that you held.
We can refuse to let you open or hold a payware payment institution account if you carry out a business or activity that we are not comfortable with. Or we may apply restrictions, which we will communicate to you before allowing you to open the account.
You can check all transactions into your account through the payware business web portal. We will not make any changes to the information, and it will be available to you through the payware business web portal until you close your account. If you need the information after then, you will need to download it while your account is still active. You can download information from the business web portal at any time. This information is provided as a Transient Technical Reflection of the records held by the relevant payment institution (the Authoritative Source), in accordance with Section C.1 of the Framework Agreement.
The payment institution must:
API is an Application Programming Interface that allows you to carry out certain activities such as setting up payment information exchange into your account and displaying transactions' status. You will have access to the API.
See the API reference page for more information about our API.
Fees applicable to your payment institution account are set out in the applicable Payment Institution Partnership Addendum. For details on fee structure, calculation, and remittance, refer to your payware Payment Institution Partnership Terms. The fees set out in the applicable Addendum form part of these Terms.
payware processes received instructions immediately and provides the necessary information to the payer's payment institution. You must promptly notify payware once you have committed to the transfer of the requested funds to the payee's account.
The safety of your account is important to us. We might prevent you from exchanging payment transaction information from your account with the API access if we're reasonably concerned about its security or that it might be used fraudulently or without your permission.
We might also have to block your account to meet our legal obligations.
We'll tell you through the payware business web portal or by email before, or as soon as possible after, we block your account or API access. We'll also let you know why we've done it (unless it would reduce your or our security or it would be unlawful).
For the purposes of Section D.7 of the Framework Agreement, the repayment timeframe under these Terms is the period indicated in your invoice (usually 15 days).
In addition to the exceptional circumstances listed in Section B.8 of the Framework Agreement, the following payment institution-specific circumstances also apply: