Integrations & custom solutions: What are the three-way payments in India?

Welcome to Stripe This Stripe Services Agreement ("Agreement") is an agreement between Stripe India Private Limited ("Stripe", "we", "us" or "our") and Stripe India Private Limited ("Stripe"). ("Stripe", "we" or "us") and the entity or person who registers on the Stripe account page for payment processing, data, technology and analytics services, and other business services provided by Stripe and its subsidiaries (collectively, the "Services"). ") between you and the entity or person who registers on the Stripe Account page to access payment processing, data, technology and analytics services, and other commercial services provided by Stripe and its affiliates (collectively, the "Services") (hereinafter referred to as "You", "Your" or "User"). Depending on your location, the location of your customers, and the nature of the services provided by Stripe, we may employ service providers, sub-processors, and Stripe affiliates to assist in providing the Services to you. A list of current service providers, sub-processors and Stripe affiliates that we may use is available [here]. This Agreement sets forth the terms and conditions of your use of the Services.

If any part of this Agreement is unclear, please seek clarification before using the Services. Access to or use of any of the Services is prohibited unless you agree to abide by all of the terms and conditions contained in this Agreement.

This Agreement outlines a general overview of the Services that may be provided by Stripe, including those that enable you to accept payment for goods or services from customers or donors of your organisation (your "Customers"). We provide a more detailed description of the Services through published software libraries, application programming interfaces ("APIs"), and other resources available on the Site.

To use the Services, you must register with Stripe and create an account ("Stripe Account").Section A explains the process of registering for and using your Stripe Account.Section B details your use of the API and the Services.Section C describes the Payment Processing Service, a type of service provided by Stripe. a type of service.Section D covers the appropriate processing, management, and use of data generated during your use of the Services, including your customer data. Finally, Section E outlines your liability for all losses related to your Stripe account, your agreement to resolve all disputes with Stripe through arbitration rather than litigation, and other legal terms that apply to you.

a. Registration and Permitted Activities: Only businesses (including self-employed persons) and other entities or individuals located in India are eligible to apply for a Stripe account to use the Services described in this Agreement.Stripe and its Affiliates may provide the Services to you or your Affiliates in other countries or territories under separate agreements.

To register for a Stripe Account, you or your representative must provide us with your business or trading name, physical address, email, telephone number, business and tax identification numbers, URL, the nature of your business or activities, and other information we request. We may also collect personal information (including name, date of birth, and government-issued identification number) about your beneficial owners, key personnel, and the administrator of your Stripe Account. Your Stripe Account will be made available in preliminary form until we have reviewed and approved all required information, during which time we may terminate it at any time for any reason.

If you use the Payment Processing Service, your name (or the name used to identify you) and URL may appear on your customer's bank or other billing statements. To minimise confusion and avoid potential disputes, these descriptors must be recognisable to your customers and must accurately describe your business or activities. You may only use the Payment Processing Services to facilitate Transactions (as defined below) with your Customers. You may not use the Payment Processing Services to send money to others, to conduct any personal or non-commercial transactions, or for any other purpose prohibited by this Agreement.

b. Business Representatives: You and Your Representative each confirm to Stripe that (i) Your Representative is authorised to provide the information described in this Section A.2 on Your behalf and is authorised to bind You to this Agreement; and (ii) You and Your Representative are not "incapable of contracting" within the meaning of the Indian Contracts Act (1872) (unless You are an individual or self-employed person and You are under 18 years of age, in which case the special requirements set out below in this Section will apply). unless you are an individual or sole trader and you are under the age of 18, in which case the special requirements set out below in this section will apply). We may require you or your representative to provide additional information or documentation to prove your representative's authorisation. You or your representative may not register or attempt to register for a Stripe account on behalf of a user whose use of the Services has previously been terminated by Stripe without the express written consent of Stripe.

If you are an individual or self-employed person, you and your representative must also acknowledge that your representative is personally responsible and liable for your use of the Services and for your obligations to your customers, including the payment of any amounts due under this Agreement. The following special requirements apply to persons under the age of 18. If you are an individual or self-employed person and you are under the age of 18, but you have reached the age of 13, your representative must be your parent or legal guardian. If you are a legal entity owned directly or indirectly by an individual under the age of 18, but the individual is over the age of 13, your representative must have the approval of your board of directors or authorised officer. Any such approved board of directors, authorised officer, parent or legal guardian shall be liable to Stripe and shall be legally bound by this Agreement as if it had agreed to the terms of this Agreement. If you are under the age of 13, you may not use the Services.

c. Verification and Coverage: At any time during the term of this Agreement and your use of the Services, we may ask you to provide additional information to verify beneficial ownership or control of the business, to verify the information you have provided, to verify the identity of you or your representatives, and to assess the risks associated with your business. Such additional information may include commercial invoices, copies of government-issued identification, business licences or other information relating to your business, its beneficial owners or key personnel. If you use the Payment Processing Services, we may also require you to provide copies of financial statements or records related to your compliance with this Agreement or require you to provide personal or corporate guarantees. Failure to provide such information or materials may result in the suspension or termination of your Stripe account.

You authorise us to obtain information about you from our service providers and other third parties (including banks, credit reporting agencies and information bureaus) and you authorise and instruct such third parties to compile and provide such information to us. You acknowledge that this may include your name, address, credit history and other data about you or your representatives. You acknowledge that we may use your information to verify any other information you provide to us and that any information we collect may affect our assessment of your overall risk. You acknowledge that in certain circumstances, such information may result in the suspension or termination of your Stripe account and that Stripe may periodically update such information as part of our underwriting criteria and risk assessment process.

d. Updating Your Business and Keeping Your Stripe Account Current: You agree to keep the information in your Stripe Account current. You must promptly update your Stripe Account to reflect any changes affecting you, the nature of your business activities, your representatives, beneficial owners, key personnel or any other relevant information. If you fail to keep such information current, we may suspend your Stripe Account or terminate this Agreement.

You further agree to notify us in writing no later than three days after any of the following occurs: you are the subject of any voluntary or involuntary petition, action, proceeding, receivership or similar action in bankruptcy or insolvency (collectively, "Bankruptcy Proceedings"); there is an unfavourable change in your financial condition; you are planning or anticipate liquidation or a a material change in the nature of the underlying business; a transfer or sale by you of $251,000,000 or more of your total assets or any change in control or ownership of your business or parent company; or the receipt by you of a judgement, writ or garnishment, lien or attachment against $251,000,000 or more of your total assets. You may only use the Services to conduct lawful transactions with your customers. You know your customers better than we do, and you are responsible for their relationships.Stripe is not responsible for the products or services you advertise or sell, or that your customers purchase using the Services. You acknowledge that you are solely responsible for the nature and quality of the products or services you provide, including delivery, support, refunds, returns and any other ancillary services you provide to your customers. You will ensure that your website clearly indicates the terms and conditions of these ancillary services and the timelines for processing returns and refunds.

Stripe provides the Services to you, but we have no way of knowing whether any particular purchase, sale, order or other transaction (collectively, "Transaction") is accurate or complete, or consistent with your business. You are responsible for knowing whether a Transaction initiated by your customer is incorrect (e.g., the customer purchased an item they intended to order) or suspicious (e.g., an unusual or large purchase, or a request for shipment to a foreign country where shipments do not normally occur). If you are unsure whether a transaction is incorrect or suspicious, you agree to investigate the transaction and, if necessary, contact your customer before fulfilling or completing the transaction. You are solely responsible for any losses suffered as a result of using the Services as a result of an erroneous or fraudulent transaction.

You expressly agree and acknowledge that Stripe acts solely as a payment intermediary in transactions between you and your customers. We are not, and will not be treated as, (i) a banking company as defined under the Banking Act, 1949; and (ii) a non-banking financial institution as defined under the Reserve Bank of India Act, 1934.

Stripe will provide the Services to you at the rates described on [page] (the "Fees"), which is linked below and incorporated into this Agreement. Fees include fees for transactions (e.g., processing payments) and other events related to your Stripe account (e.g., processing disputed charges). The Fees do not include any amounts for Merchant Discount Rates ("MDR Fees"), which will be charged separately in accordance with applicable law, and the details of which are also described in your Stripe Fee Schedule.Stripe reserves the right to waive any such MDR Fees. For this purpose, Merchant Discount Rate means the fee applicable to Debit Card, BHIM UPI, Aadhar-Pay transactions and any similar fees charged by the Card Network or third party service or access providers (other than Stripe).

We may amend the Fees at any time. However, we will give you at least 30 days' notice (or longer if applicable law requires a longer notice period) before the Fees become effective for you. In addition to the Fees, you are responsible for any fines or penalties imposed on you or Stripe by Stripe or any Payment Method Provider or Payment Method Acquirer (collectively, the "Payment Method Acquirer") as a result of your use of the Payment Processing Services in a manner that does not comply with this Agreement or the Payment Method Provider's rules and regulations, or with applicable law. fines or penalties imposed on you or Stripe. You are also obligated to pay any taxes, fees and other charges ("Taxes") imposed by any government agency ("Government"), including any value added tax, goods and services tax, provincial sales tax and/or harmonised sales tax. If you are exempt from Taxes, you must provide us with appropriate certificates or other proof of exemption satisfactory to us. Upon our reasonable request, you must provide us with information about your tax affairs.

We will provide you with support for general questions related to your Stripe account and your use of the Services. Such support includes the relevant resources and documentation that we make available to you through the current version of Stripe's [Documentation], [Documentation], and other pages on our website (collectively, "Documentation"). The most effective way to do this is to review our Documentation. If after reviewing the Documentation you still have questions, please [contact us].

You are solely responsible for providing support to your customers regarding transaction receipts, product or service delivery, support, returns, refunds, and any other issues related to your products and services and business activities. We are not responsible for the support of your customers for the provision of the Services unless we agree to provide it in a separate agreement with you or your customers.

If you have a complaint about the Payment Processing Service, please contact us through the appropriate channels mentioned in our [Complaints Policy].

Our fees do not include any applicable taxes, unless expressly stated to the contrary. You are solely responsible and liable for (i) determining the applicability of any taxes, including taxes on your sale of products and services, acceptance of donations, or payments received in connection with your use of the Services, and (ii) assessing, collecting, reporting, and remitting taxes on your business to the appropriate tax and revenue authorities. If we are required to withhold any taxes, or if we are unable to verify any tax-related identifying information you provide to us, we may deduct such taxes from the amount due and pay them to the appropriate taxing authority. If you are exempt from such taxes, you must provide us with original certificates or other evidence of your tax-exempt status that meets the requirements of applicable law. Upon our reasonable request, you must provide us with information about your tax affairs.

We may send you and the tax authorities tax information relating to the Services. You agree that we may send tax information to you electronically. We will send you tax invoices, but you are responsible for (a) providing us with the information necessary to populate tax invoices in a timely manner and (b) the accuracy of the information you provide (including tax registration IDs). Without limiting the foregoing paragraph, you are responsible for paying tax to the taxing authorities on any tax deduction source ("TDS") arising from the use of the Payment Processing Service. For this purpose, you must determine the appropriate tax rate, complete the appropriate forms, and make the appropriate TDS payments. After completing and paying the appropriate TDS amount, you will receive a tax certificate from the tax authorities showing the exact TDS amount paid under Stripe's permanent account number (AAXCS5874N). 如果您在证书发出日期后的30天内将证书提交给Stripe至[email protected] Stripe will refund you the TDS paid (as shown in the certificate).

Stripe may, at its sole discretion, make monthly advance payments of your TDS if you provide Stripe with a valid Tax Withholding Account Number (TAN). You will complete the appropriate forms, make the appropriate TDS payments to the tax authorities and promptly send Stripe the tax certificates you have received.If, due to your acts or omissions, Stripe is unable to claim or does not receive full credit for any TDS previously prepaid by Stripe, Stripe may debit your Stripe account with the appropriate amount.Stripe does not liable for any tax, interest or penalties resulting from your acts or omissions, including your delay or failure to pay TDS to the tax authorities.

a. Compliance with Applicable Laws: You must use the Services in a lawful manner and comply with all laws, rules and regulations applicable to your use of the Services and transactions ("Laws"). As applicable, this may include compliance with national and international laws relating to the use or provision of financial services, notice and consumer protection, unfair competition, privacy and false advertising, and any other laws relating to transactions. Subject to our written notice, we may require you and any third party service providers engaged by you to comply with all laws that may be relevant to your use of the Services, whether or not such laws are directly applicable to you or the third party service providers, including compliance with the Reserve Bank of India's ("RBI") circular on "Payment Systems" dated 6 April 2018 (the "Circular"). ("RBI") on 6 April 2018 ("Circular") on "Storage of Payment System Data" and any directions or instructions in relation to the Circular, which you will promptly comply with, and to ensure that your Third Party Service Providers comply with such laws.

b. Restricted Businesses and Activities: You may not use the Services to enable any person (including yourself) to benefit from any activity that Stripe has determined to be a "Restricted Business" (collectively, "Restricted Businesses"). Restricted Business includes use of the Services in or for the benefit of any country, organisation, entity or person that is banned or blocked by any government (including organisations on sanctions lists established by India or the United States).

Please review the list of [RESTRICTED BUSINESS] carefully before registering and opening a Stripe account. If you are unsure whether a business category or activity is restricted, or have questions about how these restrictions apply to you, please [contact us]. We can add or update the Restricted Business list at any time.

c. Other Restricted Activities: You may not use the Services to facilitate illegal transactions or allow others to use the Services for personal, family or household purposes. In addition, you may not permit, nor may you allow others to: (i) access or attempt to access non-public Stripe systems, programs, data, or services; (ii) copy, reproduce, republish, upload, post, resell, or in any way distribute any data, content, or any portion of the Services, except as expressly permitted by applicable law; (iii) act as a service bureau or non-value-added agent for the Services to provide the Services; (iv) assign any rights granted by you under this Agreement; (v) circumvent any technical limitations of the Services or enable disabled or prohibited features; (vi) reverse engineer or attempt to reverse engineer the Services, except as expressly permitted by applicable law; (vii) perform, or attempt to perform, any action that would interfere with the proper operation of the Services or affect the use of the Services by other users of ours; (viii) impose an unreasonable or disproportionate burden on the Services (viii) impose an unreasonably or unbalanced load on the Services; or (ix) use the Services for values in excess of the monetary limits prescribed by the Reserve Bank of India ("RBI") from time to time.

We may refuse, impose conditions or suspend any transaction if we believe that it may violate this Agreement or other agreements you may have with Stripe; be unauthorised, fraudulent or illegal; or expose you, Stripe or others to risks unacceptable to Stripe. If we suspect or know that you are using or have used the Services for unauthorised, fraudulent or unlawful activities, we may share any information about such activities with appropriate financial institutions, regulators or law enforcement agencies in accordance with our legal obligations. Such information may include information about you, your Stripe account, your customers, and transactions conducted through your use of the Services.

a. Consent to Electronic Disclosure and Notification: This document is an electronic record under the Information Technology Act 2000 ("IT Act") and its related regulations (collectively, the "IT Regulations") and is subject to the IT Act and all other applicable laws governing electronic records. and all other applicable laws governing electronic records. By clicking the Accept button, registering for a Stripe account, accessing, using or installing the Stripe API, Dashboard or any part of the Services, you expressly agree to be bound by the terms and conditions of this Agreement. Your registration for a Stripe account or access, use or installation of the Stripe API, Dashboard or any part of the Services constitutes your electronic signature and your consent to Stripe providing all disclosures and notices ("Notices"), including those required by law. You also agree that your electronic consent will have the same legal effect as a physical signature.