FINANSIV Wallet allows you to use the Wallet to accept the Virtual Currency from your payers. This functionality can be used by businesses, freelancers and other persons who wish to receive the payments in Virtual Currency from their clients (the "Merchants").
You may only use this Wallet functionality if all of the following conditions are met:
you have successfully completed the account verification process and there are no pending inquiries from FINANSIV team that you have not yet responded to;
you are the owner or the operator of a legitimate business or you are engaged in the legitimate business as a freelancer, self-employee or act in a similar capacity; herein the "business" will have the meaning of any commercial or social activity of a continuous nature which requires frequent payments for the goods or the services provided (including charities, crowdfunding and similar);
the business referred to in sub-clause above is a legitimate business, not subject to any sanctions or legal restrictions in either the jurisdiction of FINANSIV, or the jurisdiction where you or your clients operate or reside;
you apply reasonable and risk-appropriate measures to identify your clients and evaluate their potentially illicit purposes for making payments in the Virtual Currency; if you are unsure whether the measures that you currently apply meet these requirements, please contact FINANSIV before using the Merchant Services.
In addition to the requirements set out in the Terms regarding verification of your identity and account, in order to use the Merchant services, you will be asked to provide additional information and documents, such as your business incorporation documents, your client verification requirements, explanation of the nature of your business, etc. The scope of such additional information and documents and the time of their submission will be determined at the sole discretion of FINANSIV. Your failure to comply with these requirements will result in you being prohibited from using our Merchant services.
FINANSIV will provide a technical infrastructure for accepting the Virtual Currency. However, in line with the Terms, FINANSIV takes no responsibility for improper functionality, technical faults and downtime of the technical infrastructure.
In order to begin using our Merchant services, you have to create a Merchant project at your account. You can create unlimited Merchant projects.
The Merchant services are intended to be used by the persons operating or engaged in businesses as a means of payment collection rather than being used as an alternative to standard account-to-account (Wallet-to-Wallet) transactions. If we detect that the Merchant services or some of your Merchant projects are not used for business purposes, we may at our own discretion and without a prior notice terminate either a specific Merchant project or the whole Merchant services package. You will be solely responsible and liable for any and all consequences which may arise out of such termination of the Merchant services (project).
You may choose any of the available options to accept payments in Virtual Currency. Up-to-date information about currently available options and their implementation can be found on the Site. eCommerce Plugins, API and manual order creation options are available to choose from. We may at our sole discretion at any time and without any prior notice add new or disable existing options.
Once your client makes a payment in Virtual Currency, FINANSIV will add the amount of Virtual Currency to your Wallet. You may opt to automatically convert the payment amount to a supported Fiat Currency. In such case FINANSIV will convert the funds based on the Virtual Currency and Fiat Currency exchange rate published on the Site at the moment of order creation. The converted amount in the chosen Fiat Currency will be sent to your bank account. For the exchange services terms from the Annex 2 apply additionally.
You and not FINANSIV are the owner/seller of your products/services for which you accept the Virtual Currency as a form of payment. You undertake to clearly inform your customers that they buy products/services directly from you. You may not advertise, claim or imply in any way that FINANSIV is involved in selling the goods/services. This, however, does not preclude you from advising your clients that their payments in Virtual Currency will be made through FINANSIV.
FINANSIV will not investigate whether you as a seller must comply with any legal requirements pertaining to your business activity and/or whether you actually comply with them. It is entirely your responsibility to ensure that you know such requirements and comply with them.
FINANSIV is not responsible for the quality and delivery of your products/services, support, refunds and returns. Neither are we responsible for any reversals, chargebacks, fees, fines, penalties and other liability and/or losses arising out of any transaction between you and your customers.
FINANSIV is not involved in the transaction between you and your customers and is not the agent of either of you for any purpose. Therefore, FINANSIV will not be involved in resolving any disputes between you and your customers related to or arising out of any transaction. In case FINANSIV is involved into any dispute by any third party, you will indemnify and hold FINANSIV harmless against any and all liability, claims, suits, losses, costs and legal fees caused by, arising out of, or resulting from any such dispute.
FINANSIV may at any time at its sole discretion, without indicating a reason, suspend or terminate the functionality of the technical infrastructure used for acceptance of the Virtual Currency.