Merchant Payment Policy

  • Merchant Payment Policy
  • 1. Payment Services Overview
  • RENTAAA provides payment services through various financial service providers, enabling merchants to accept payments from customers for transactions. We may limit or refuse processing of charges for restricted businesses or transactions that violate this agreement. Merchants may also be required to agree to separate agreements with financial service providers as outlined in Section 5.
  • The following terms apply to the use of RENTAAA's payment services:
  • 1.1 Charge: A credit or debit instruction to capture funds from a customer’s account in connection with a transaction.
  • 1.2 Refund: An instruction initiated by the merchant to return funds to a customer for an existing charge.
  • 1.3 Dispute: A customer-initiated request, either with a financial service provider or RENTAAA, to return funds for an existing charge (including chargebacks and disputes on debit networks).
  • 1.4 Reversal: An instruction initiated by a financial service provider or RENTAAA to return funds for an existing charge due to settlement errors, unauthorized transactions, or violations of network rules.
  • 1.5 Return: An instruction initiated by the merchant, customer, or financial service provider to return funds unrelated to an existing charge.
  • 1.6 Transfer: An instruction to credit or debit funds from an account designated by the merchant with a financial service provider.
  • 1.7 Fine: Any penalties imposed by RENTAAA or a financial service provider due to violations of laws, agreements, or network rules.
  • 1.8 Network Rules: The guidelines, bylaws, rules, and regulations imposed by financial service providers that govern the payment networks supported by RENTAAA (e.g., Visa, MasterCard, American Express).
  • 2. Merchant Registration and Account Verification
  • When registering for a RENTAAA account, merchants may be required to provide financial and personal information about themselves, their representatives, principals, and beneficial owners. RENTAAA may share this information with financial service providers to verify eligibility, monitor charges, and conduct compliance reviews. Merchants must maintain accurate business and banking details to avoid payment disruptions.
  • RENTAAA does not function as a bank and does not provide loans or credit. If a merchant accepts payments for preorders, RENTAAA may impose reversals or hold reserves to mitigate risk. Merchants must contact RENTAAA in advance if they wish to process payments for preorders.
  • 3. Processing Transactions and Handling Disputes
  • 3.1 Merchants may only submit charges that are properly authorized by customers.
  • 3.2 Merchants are responsible for customer relationships, transaction verification, providing receipts, and ensuring compliance with all legal and regulatory requirements.
  • 3.3 Authorized transactions may still be subject to disputes, refunds, or reversals.
  • 3.4 RENTAAA is not liable for financial losses resulting from fraudulent transactions, and merchants are encouraged to implement security controls to mitigate fraud risks.
  • 3.5 If a reversal occurs, RENTAAA will notify the merchant and provide details regarding the reason for the reversal.
  • 4. Merchant Responsibilities
  • Merchants using RENTAAA’s payment services agree to:
  • 4.1 Accurately communicate transaction details before submitting charges.
  • 4.2 Provide accurate receipts for each transaction.
  • 4.3 Maintain a transparent refund and cancellation policy.
  • 4.4 Inform customers that RENTAAA processes transactions on their behalf.
  • 4.5 Avoid deceptive or unfair sales practices.
  • 4.6 Ensure compliance with laws governing subscription and recurring payments, including notifying customers of ongoing charges and cancellation options.
  • 4.7 Provide legal disclosures and avoid deceptive trade practices when dealing with individual consumers.
  • 5. Financial Service Providers and Compliance
  • 5.1 Use of RENTAAA’s payment services is subject to financial service provider terms, as well as RENTAAA’s own legal terms.
  • 5.2 RENTAAA may add or remove financial service providers and modify applicable terms at any time.
  • 5.3 Financial service providers may enforce their own terms directly against merchants.
  • 5.4 RENTAAA is authorized to hold, receive, and disburse funds on behalf of merchants.
  • 5.5 Settlement funds may be held in a clearing account before being transferred to merchants’ payout accounts.
  • 6. Payment Processing Rules and Card Network Compliance
  • 6.1 Merchants must comply with Visa, MasterCard, American Express, and other network rules when processing card payments.
  • 6.2 Payment cards may only be used for legal and legitimate commercial transactions.
  • 6.3 Merchants cannot impose surcharges on card payments unless legally permitted.
  • 6.4 Merchants must provide receipts that meet legal and network requirements.
  • 6.5 Card transactions must be processed within three days of authorization and retained for a minimum of five years.
  • 6.6 High chargeback rates (typically over 1%) may result in the suspension of card payment services.
  • 6.7 RENTAAA may report merchants engaging in fraudulent activity to terminated merchant lists, potentially restricting their ability to accept card payments.
  • 6.8 Merchants processing high American Express volumes may be required to enter into a direct agreement with American Express.
  • 7. Transfers and Payout Schedule
  • 7.1 Merchants can transfer funds between their RENTAAA account and designated payout accounts.
  • 7.2 Funds will be transferred according to the payout schedule visible in the RENTAAA dashboard.
  • 7.3 Initial payouts may be subject to delay for verification.
  • 7.4 RENTAAA may modify the payout schedule or suspend transfers in cases of disputes, fraud, or regulatory compliance issues.
  • 8. Clearing Funds and Reserves
  • 8.1 RENTAAA holds merchant funds in pooled clearing accounts before processing payouts.
  • 8.2 RENTAAA may impose a reserve if a merchant’s activities present increased risk.
  • 8.3 Reserves may be established due to high dispute rates, regulatory concerns, or network violations.
  • 8.4 Merchants will be informed about the conditions of the reserve and any withheld amounts.
  • 8.5 Reserve amounts may be deducted from payouts or requested directly from merchants.
  • 9. Security Interests, Debt Collection, and Set-Off Rights
  • 9.1 RENTAAA maintains a lien on funds held in merchant payout accounts in cases of outstanding debts or policy violations.
  • 9.2 RENTAAA reserves the right to collect owed amounts by deducting from merchant balances, reserves, or linked payout accounts.
  • 9.3 Merchants failing to fulfill payment obligations will be responsible for legal fees, collection costs, and interest.
  • 9.4 RENTAAA may require a business guarantee in cases of increased financial risk.
  • 10. Business Closure and Chargebacks
  • 10.1 If a business closes down and RENTAAA receives a chargeback for a transaction, the signing authority of the merchant account is directly responsible for the refund.
  • 10.2 If the signing authority or director resigns or is no longer in their position, they must notify RENTAAA within three business days of ceasing operations.
  • 10.3 If the business fails to pay any losses, disputes, or chargebacks, the signing authority will be personally liable for the full amount.
  • 11. Error Resolution and Account Reconciliation
  • 11.1 Merchants must review their RENTAAA dashboard to verify transactions and report discrepancies immediately.
  • 11.2 Errors must be reported within 60 days of discovery to maintain claim eligibility.
  • 11.3 RENTAAA will investigate and correct errors where possible, but reimbursement is not guaranteed if funds are no longer recoverable.
  • 12. Dormant Accounts and Unclaimed Funds
  • 12.1 If a merchant account remains inactive for an extended period, RENTAAA may be required to report and transfer unclaimed funds to government agencies per applicable regulations.
  • 12.2 RENTAAA will attempt to notify the merchant before deeming funds abandoned.