Fast, secure, easy - card processing to support your business
All you need for taking card payments in person
Start taking payments online today
Take payments wherever your customers shop
Your industry supported with card payments
Get access to your funds within hours
Account Updater
Pay out to card in minutes
Get ready for two-factor authentication
Easy, secure and compliant payments for your website
Phone payments made easy for your team
Take card payment on invoices and emails
Access to your data and payment tools in real-time
From ecommerce, to grocery, to furniture and household, we’ve got solutions to support your business.
Financial services businesses have a range of specific needs. From recurring billing to payout, we’re ready to support you and your customers.
We’re redefining the payments industry
Join the team
Cashflows latest press releases
Our Commitment to Sustainability
Read our knowledge articles
Support documents and API's for integrating to Cashflows
Contact us for customer support
Read all our latest posts
Read about how we help our customers transform their businesses
Read our latest research papers
Terms and Conditions
Updated 8 December 2020
IMPORTANT NOTE: THESE ARE THE STANDARD TERMS AND CONDITIONS PURSUANT TO WHICH WE WILL PROVIDE THE ACQUIRING SERVICES TO YOU AND ON WHICH WE INTEND TO RELY. BY REQUESTING OR ACCEPTING THE ACQUIRING SERVICES, YOU ACKNOWLEDGE AND AGREE THAT YOU HAVE READ, UNDERSTAND, AGREE AND SHALL COMPLY WITH THE TERMS OF: (i) THESE TERMS AND CONDITIONS; (ii) THE APPLICATION; (iii) THE PRICING PLAN; AND (iv) THE PRIVACY POLICY (TOGETHER “THE CONTRACT”) AND YOU HAVE BEEN GIVEN AN OPPORhe fxUNITY TO RAISE ANY QUESTIONS YOU MAY HAVE ON THEM.
THESE TERMS AND CONDITIONS are entered into between PayCheckout B.V., using the tradename Cashflows, here and after Cashflows, a company incorporated in the Netherlands whose registered office is at Noorderhof 24, 5804 BV Venray, Netherlands registered with the Dutch chamber of commerce under number 59750111 ("PCO", "we", "our", "us"), the Foundation, and you the merchant ("you", "merchant") and become legally binding on the Operative DatePCO tradename Cashflows is a payment institution authorised and regulated by De Nederlandsche Bank N.V. for the provision of merchant acquiring and other related payment services (firm reference number: [R12887).
“3D Secure” |
means the Card Scheme approved process to allow issuers to authenticate Online Transactions through Cardholders entering an additional password when purchasing Approved Products through Online Transactions” |
“Applicable Laws” |
means all applicable laws, statutes, statutory instruments, acts, regulations, orders and directives including but not limited to PSD2, the Dutch Civil Code (Burgerlijk Wetboek), the Dutch Financial Supervision Act (Wet op het financieel toezicht), the General Data Protection Regulation (Algemene verordening gegevensbescherming), and all orders, regulations and rules issued there under, as amended from time to time; |
"Application" |
means your application to us for the provision of any of the Acquiring Services and Application Form shall be construed accordingly; |
"Approved Products" |
means the goods and/or services you provide to Cardholders which we have approved in writing either as part of the Application or from time to time thereafter; |
"Approved Sub-Contractors List" |
means the sub-contractors in the link set out at www.cashflows.com/subcontractors or as otherwise notified by Cashflows from time to time; |
"Acquiring Services" |
means the services allowing you to accept Cards in order to initiate Transactions pursuant to the Rules, to receive payment for Transactions via Remittances, to affect Refunds and any related or supporting services as provided by Cashflows to you under the Contract and, where such services are provided by us, the Gateway Services; |
"Assessments" |
means any and all assessments, fines, levies, costs, expenses, charges, (liquidated ) damages or imposition of liabilities of any nature which a Card Scheme or any other third-party levies on you or us at any time, directly or indirectly, in relation to any aspect of our relationship with you under the Contract (examples of Assessments can be found on our website at http://support.cashflows.com/merchant-monitoring); |
"Authorisation" |
means the process whereby we obtain at the time of the Transaction (directly or indirectly, for example, where the Gateway Services are provided by a third party) from the Card Issuer confirmation that the Card has not been listed as lost or stolen and that there are sufficient funds for the relevant Transaction; |
"Bank Account" |
means an account held in your name maintained at a Bank or financial institution acceptable to us and held in the currencies in which we receive funds for Remittance (which may be any of Pounds Sterling, Euro or US Dollar) in order to facilitate payment of Remittances; |
"Card" |
means a credit, debit, charge, purchase, prepaid or other card issued by a Card Issuer and licensed by a Card Scheme which we have agreed to process in accordance with the Contract (as notified by us to you from time to time); |
“Card Not Present Transaction” |
means any Transaction where the Card or the Cardholder is not present at your Retail Location, which may include: (i) telephone orders; (ii) mail orders; (iii) online orders; and (iv) recurring transactions (for example, subscriptions); |
“Card Present Transaction” |
means a Transaction where the Card and the Cardholder are present at your Retail Location; |
"Cardholder" |
means a Person who or which is the authorised user of a Card; |
"Card Issuer" |
means a financial institution which issues Cards; |
"Card Schemes" |
means Visa Europe, Visa Inc, MasterCard Worldwide and/or such other scheme that offers a payment method that is accepted by Cashflows for processing; |
“CashBack” |
means providing cash to a Cardholder as part of a Card Present Transaction; |
"Chargeback" |
means where a Card Issuer or Card Scheme requires repayment in respect of a Transaction previously settled to the Foundation and/or to us and/or Remitted to you, notwithstanding that Authorisation may have been obtained (and for the purposes of this definition a Transaction shall also include a Transaction where a Cardholder has used his Card in order to purchase and/or load value onto a prepaid card or prepaid account issued or provided by us and such prepaid value (or part of it) is used to purchase goods or services from you); |
"Confidential Information" |
means information that is designated as "confidential" or which by its nature is clearly confidential including any information relating to a Cardholder or a Cardholder's use of a Card or information concerning any one of the Card Schemes or information concerning our or (as the case may be) the Foundation's or your technology, technical processes, procedures, business affairs, finance, security procedures and premises and may take the form of (but is not limited to) documents, technical specifications, unpublished patent specifications, data, drawings, plans, processes, photographs, databases, computer software in disk, cassette, tape or electronic form and items of computer hardware or oral descriptions or demonstrations; |
“Contactless Transaction” |
means a Transaction using Contactless Technology; |
“Contactless Transaction Limit” |
means the limit set by the Card Schemes for a Contactless Transaction [being €25 per Transaction or such other limit as advised by us or the Card Scheme from time to time]; |
“Contactless Technology” |
means near field communication technology used to complete Transactions to make a payment between a Card and the POS Terminal; |
"Contract" |
means our contract with you for the provision of the Acquiring Services which is made up of these Terms and Conditions, the Application, the Pricing Plan and our Privacy Policy; |
"Control" |
means the right to control directly or indirectly, the activities of a Person, whether through ownership or the ability to control the voting powers of shares, the ability to control the board or management of such Person or otherwise (and "Controls" and "Controlled" shall be construed accordingly); |
"Copy Request" |
means a request from a Card Scheme or Card Issuer which we pass on to you for information regarding a Transaction which is the subject of a potential Chargeback or a Dispute; |
“Credit Transaction” |
means a Payment Transaction (as defined by MasterCard) or Original Credit Transaction (as defined by VISA) that results in a credit to the account of a Cardholder for a purpose other than processing a Refund; |
"Data" |
means documents, data and records of any kind relating to Transactions (including, for the avoidance of doubt, data relating to Cards and Cardholders); |
"Data Controller" |
has the meaning set out in the Data Protection Laws; |
"Data Processor" |
has the meaning set out in the Data Protection Laws; |
"Data Protection Laws" |
means all laws in any relevant jurisdiction that relate to data protection, privacy, the use of information relating to individuals, and/or the information rights of individual including, without limitation, the General Data Protection Regulation (EU 2016/679), and the equivalent in any other relevant jurisdictions, the Electronic Communications Data Protection Directive 2002/58/EC, the Privacy and Electronic Communications (EC Directive) Regulations 2003, all as amended or replaced from time to time; |
"Data Subject" "DCC" |
has the meaning set out in the Data Protection Laws; means the Dutch Civil Code; |
"Dispute" |
means any issue concerning a Transaction or concerning your behaviour which is relevant to the Acquiring Services which is raised with us by any third party; |
“Excessive Fraud/Chargeback Merchant” |
means a Merchant that we reasonably believe has exceeded the fraud and/or Chargeback levels disclosed to us as part of the Application or may exceed the Card Scheme Chargeback and fraud thresholds for Transactions; |
"Fees" |
means the fees payable by you to us for the provision by us of the Acquiring Services as set out in the Pricing Plan or as notified to you by us from time to time; |
"Fixed Fee" |
means the fixed fee charged as part of the Transaction Fees as set out in the Pricing Plan; |
"Foundation" |
means a customer account foundation that safeguards your funds; |
"Fraud Report" |
means a report notified to us by a Card Scheme or Card Issuer relating to a Transaction or Transactions which are believed to be in some way fraudulent as notified by us to you; |
“Floor Limit” |
means the total value of a Transaction you are permitted to make before you need Authorisation from us. The Floor Limit shall be €0 unless agreed by us or as set out in the Pricing Plan; |
“FX Mark-Up” |
FX Mark-Up has the meaning set out in clause 5.1; |
"Gateway Services" |
means the provision of a communication network to transfer Transaction information between the payment page of your online store and the payment processing system we use to deliver the Acquiring Services; |
"Gateway Services Fee" |
means the fee payable by you to us for the provision of the Gateway Services which, where relevant, will be set out in the Pricing Plan; |
"Group Companies" |
means PCO, any subsidiary or holding company from time to time of PCO and any company which is a subsidiary from time to time of any holding company of PCO; |
"High Risk Warning Fee" |
means the fee set out in the Pricing Plan payable by you to us each time a illegal transaction is reported to us under this Contract; |
“Illegal Transactions” |
means: (i) selling products other than Approved Products; (ii) processing Transactions that do not match the type of transactions you confirmed in your Application Form; (iii) processing Transactions that breach your obligations and requirements under Contract; and (iv) processing a Transaction which may be detrimental to our or the Card Scheme’s reputation and/or goodwill; |
"Intellectual Property Rights" |
means any and all intellectual property rights of whatever nature including patents, inventions, , registered designs, copyrights, database rights, rights in software, design rights, rights affording equivalent protection to copyright, trademarks, service marks, logos, domain names, business names, trade names, moral rights, and all registrations or applications to register any of these, rights in the nature of unfair competition rights and rights to sue for passing off and all such rights in any country or jurisdiction; |
"Interchange Fees" |
means the fees charged to us by the Card Issuer which relate to the processing of a Transaction; |
“Losses” |
means any and all losses (as meant in article 6:95 DCC), therefore including charges, claims, damages, expenses and costs, liabilities, fines or penalties suffered by us and/or the Foundation (or, if mentioned in a specific clause under this agreement, any other party) as a result of any act or omissions by you, including a breach of any of your obligations under this Contract or any other contract and any unlawful act; |
“Mobile Payment Transaction” |
means the payment for Approved Products using Card details stored on a smart-phone (or equivalent) device, including Apple Pay, Google Pay and Samsung Pay; |
“Materials” |
means any promotional materials provided by us (or the Card Schemes) displaying the Cards you may accept for Transactions; |
“Minimum Monthly Service Charge (MMSC )” |
means the minimum monthly service charge we charge for providing the Acquiring Services |
"Online Portal" |
means the secure online system that allows you and us to manage and exchange information in relation to the Acquiring Services; |
“Online Transaction” |
means a Transaction where the Cardholder provides Payment or Card details over the internet; |
"Operating Instructions" |
means any operating instructions setting out procedures, information and instructions which you must follow in connection with the Acquiring Services provided by Cashflows and any amendments from time to time; |
"Operative Date" |
means the date when we process your first Transaction; |
“Payment” |
means a payment for Approved Products which the Cardholder has Authorised; |
"PCI DSS" |
means the Payment Card Industry Data Security Standards published and updated from time to time by the Payment Card Industry Security Standards Council at https://www.pcisecuritystandards.org and which merchants and others processing Data must comply with; |
“PCI Agent” |
has the meaning set out under clause 9.12; |
"Person" |
means any individual, legal entity, corporation, firm, (unincorporated ) association, foundation, general or limited partnership, government, state or agency of a state and joint venture; |
"Personal Data" |
has the meaning set out in the Data Protection Laws; |
“PIN” |
means the Cardholder’s personal identification number relating to a Card; |
“POS Terminal” |
means the point of sale terminal, hardware, equipment, software, and/or any other device (approved by us) used by you to process Card Present Transactions; |
“Pricing Plan” |
means the document setting out the Fees payable by you for the Acquiring Services and provided to you following submission of your Application; |
"Primary User" |
means your representative (as notified to, and approved by us as part of your Application) authorised by you to access the Online Portal; |
“Privacy Policy” |
means our privacy policy on how we use your information which can be located at www.cashflows.com/privacy-policy; |
“Procedure Guide” |
means a procedure guides or operating manuals provided by us (or a third-party on our behalf) on the procedures and processes you must follow when processing Transactions, as amended, updated or replaced from time to time; |
"Processing" "PSD" "PSD2" |
has the meaning set out in the Data Protection Laws; means the Directive (EU) 2007/64/EC; means the Directive (EU) 2015/2366; |
"PSRs" |
means the Payment Services Regulations 2017 (and any amendments made to the PSRs from time to time); |
"Reason Code" |
means codes designated by some or all of the Card Schemes categorising undesirable or non-compliant acts or omissions of merchants; |
"Refund" |
means the reimbursement of a Transaction to a Cardholder at your request (or as initiated by us in accordance with the Contract) by such electronic means as shall have been approved by us which represents the complete or partial reversal of a Transaction with the intention of crediting the Cardholder's account; |
"Remittance" |
means the payment due to you in respect of Transactions (and "Remitted" shall be construed accordingly); |
“Remittance Scheduler" |
means a remittance scheduler which we may, on request, make available to you to manage your remittances to accounts based in the European Union as approved by Cashflows; |
“Retail Location” |
means your retail outlet (within jurisdictions authorised by us) from which you provide Approved Products; |
"Rules" |
means the rules, regulations, operating guidelines and procedures issued by the Card Schemes pertaining to Cards, Cardholders, Transactions and any related activity including the processing of Data (as amended or extended from time to time); |
"Scheme Fees" |
means the fees charged by the Card Schemes which we incur and which relate to the processing of a Transaction; |
“Security Code” |
means the security provisions contained within the Card, including the magnetic stripe, the Card verification value in the magnetic stripe or Card chip, the Card security code and the PIN; |
"Security Credentials" |
means the password and username that is required for accessing the Online Portal; |
"Trading Limit" |
means any limit on the aggregate value of Transactions that you may complete in any specified period which we may notify to you from time to time; |
"Transaction" |
means any payment to you for Approved Products (including supplying CashBack) using a Card, or any Refund, or otherwise to debit or credit the applicable Cardholder's account with the Card Issuer, which includes a Contactless Transaction, Mobile Payment Transactions, Card Present Transaction and a Card Not Present Transaction; |
“Transaction Data” |
has the meaning set out under clause 9.13; |
“Transaction Fee" |
means our Fees excluding the Interchange Fees, the Scheme Fees and any other fees charged to us by the Card Issuer or Card Schemes, and which we charge to you; |
"Transaction Personal Data" |
means Personal Data relating to a specific Transaction and which it is necessary to Process in connection with the provision of the Acquiring Services; |
“VAT” |
means value added tax and or any other similar tax or duty; and |
"Void Transaction" |
means a transaction which is abandoned by you or by the Cardholder or by us after an Authorisation has been obtained but before the Cardholder account has been debited. |
(i) where there is no genuine evidence that the Cardholder Authorised the Transaction or the Cardholder denies Authorising a Transaction;
(ii) if a Transaction is processed contrary to the terms of this Contract;
(iii) where we or the Foundation receive a claim (from a Cardholder or Card Issuer) connected to a Transaction processed by you, relating to the Approved Products being faulty or not as described, not receiving the Approved Products, or where the Transaction was subsequently cancelled;
(iv) for Card Present Transactions, you fail to obtain the Cardholder’s signature where you are required to manually enter the transaction as a result of the Card being unable to be read;
(v) where the Transaction relates to a non-Approved Product or an Illegal Transaction;
(vi) where you fail to obtain Authorisation for the Transaction in accordance with terms of this Contract;
(vii) a Transaction is processed for someone other than the Cardholder;
(viii) where we treat you as an Excessive Chargeback/Fraud Merchant; and
(ix) where set out in the Procedure Guide.
Compliance
PCI DSS and Storing Data
Card Present Transactions
Provision and Disclosure of Information
It shall be your responsibility to ensure all Data provided by you is complete and accurate. If you do not provide the information or Data we require, we may withhold the payment of Remittance to you in accordance with clause 14 until such time as we are satisfied there is no risk and you can meet your obligations under this Contract.
Websites (Online Transactions)
Online Portal
except, in each case, if and to the extent caused by or contributed to by our negligence or any material breach of the Contract by us.
howsoever caused arising out of, or in connection with, any supply, failure to supply or delay in supplying the Acquiring Services or otherwise in connection with the Contract.
PayCheckout B.V.Noorderhof 24, 5804 BV, Venray, the Netherlands Marked for the attention of: General Manager or such other individual as we may notify you of from time to time with a copy to be delivered to the General Counsel.
Email: support@cashflows.com copied to compliance@cashflows.com
to the address of the other party as set out in this Contract or as otherwise notified by such party from time to time.
A complaint submitted in writing or via email must be signed and shall contain at least:
a. The name and the address of the complainant
b. The date; and
c. The description of the conduct against which the complaint is addressed
We may process special categories of Personal Data under this Contract relating to criminal convictions, where necessary for the purposes set out in clause 19.3 of this Contract.