Last updated on 15 May 2018

Terms of Use

Welcome to Yedpay! These Terms of Use set forth here constitute a legally binding agreement between The Payment Cards Group Limited, a company incorporated under the Law of the Hong Kong Special Administrative Region ("Yedpay", "we", "us" or "our"), and the individual(s), application, service, or business named on the registration page ( “you", "your", "user", or “client").
We created the Yedpay service to make it easy for you to accept payment with various platform providers so you can focus on your own product or service. We have also developed additional services that you can use with integrated Payments, allowing you to share data and management of your account with various platforms.
We have tried to draft these Merchant Terms of Service to be readable, but should you have any questions or concerns or would simply like to better understand how we do things at Yedpay, please do not hesitate to contact us at
Below is a quick description of the sections in this Agreement, but there are important details in the whole document, so you should read it.

Yedpay Services

We provide you with software and a service to process your online payments; we will respect and protect your privacy, data and personal information. We do not assume any liability for the products or services purchased using Yedpay Payments. You will be required to register with Yedpay to use Yedpay Payments.
Yedpay enables you to work with various platform providers to help manage your account, provide ancillary services, or perform analytics using your data from your Yedpay account. Yedpay Relay provides you a mechanism for easily publishing your product data to various online channels.

Authorization for Handling of Funds

By accepting this agreement, you authorize us to hold, receive, and disburse funds on your behalf when such funds from your transactions settle from the various platform provider. You agree that you are not entitled to any interest or other compensation associated with the settlement funds held by pending settlement to your designated bank settlement account. The settlement information reflected in the Yedpay management dashboard is for reporting and informational purposes only, and you are not entitled to, and have no ownership or other rights in settlement funds, until such funds are credited to your designated bank settlement account. Your authorizations set forth herein will remain in full force and effect until your Yedpay Account is closed or terminated.

Payment Methods

You may only process payments when authorized to do so by your customer. You are solely responsible for verifying identity of your customers, ensuring that they have authorized the transaction, and determining their eligibility to purchase your products and services. Yedpay does not guarantee or assume any liability for transactions authorized and completed that are later reversed or charged back. You are solely responsible for all reversed or charged back transactions, regardless of the reason for, or timing of, the reversal or chargeback. Yedpay may add or remove one or more payment types or networks at any time. If we do so we will use reasonable efforts to give you prior notice of the removal.

Customer Service

We will provide you with customer service to resolve issues relating to your Yedpay Account, use of the Yedpay Services, and the distribution of funds to your designated bank settlement account. You, and you alone, are responsible for providing service to your customers for any and all issues related to your products and services, including but not limited to issues arising from the processing of payment through Yedpay Payments.


It is your responsibility to determine what, if any, taxes apply to the sale of your products and services and/or the payments you receive in connection with your use of Yedpay Services. It is solely your responsibility to assess, collect, report, or remit the correct tax to the proper tax authority. We are not obligated to, nor will we determine whether Taxes apply, or calculate, collect, report, or remit any Taxes to any tax authority arising from any transaction. You acknowledge that we may make certain reports to tax authorities regarding transactions that we process and merchants to which we provide card payment services.
You acknowledge that we will report to the Inland Revenue Department the total amount of the payments you receive each calendar year as required by law.

Security and Fraud Controls

Yedpay may provide or suggest security procedures and controls intended to reduce the risk to you of fraud (“Security Controls”). You agree to review all Security Controls and choose those that are appropriate for your business to protect against unauthorized transactions and, if necessary, use other procedures and controls not provided by us.

Suspicion of Unauthorized or Illegal Use

We reserve the right to not authorize or settle any transaction you submit which we believe is in violation of this Agreement, any other Yedpay agreement, or exposes you, other Yedpay users, financial services providers, or Yedpay to harm or unnecessary risk, including but not limited to fraud and other criminal acts. You grant us authorization to share information with law enforcement about you, your transactions, or your Yedpay Account if we reasonably suspect that your use of Yedpay has been for an unauthorized, illegal, or criminal purpose.

Registering for Yedpay

You provide us with basic information about your company; we will seek to verify your information (we may work with third parties to do so) and approve your account unless deemed risky (by us or our payment processors). You give us permission to do all this, and to periodically update the information or we otherwise must decline to offer Yedpay Services to you. There are some prohibited activities for which you may not use the Yedpay Services.

  1. Registration
  2. The Yedpay Services are only made available under this Agreement to persons that operate a business selling products or services. To use the Yedpay Services, you will first have to register. When you register, we will collect basic information including your name, company name, location, email address and phone number. If you have not already done so, you will also be required to provide an email address and password for your Yedpay Account. You may not register another account with Yedpay if we have already rejected an account for your business. If you believe your original application was rejected in error, please contact our Support team to review your account.
    For your registration as a business organization, you must also provide information about an owner or principal of the business and you must be authorized to act on behalf of the business, and must have the authority to bind the business to this Agreement. Keep in mind that you are accepting the terms and conditions of this Agreement on behalf of the business. If you are a sole proprietor, the term “you” will mean you, the natural person, as well as the business organization that you represent.

  3. Company Descriptions and URL
  4. As part of your registration, you must provide the URL for your business and the name under which you do business, which may be the business’s legal name or a DBA. To avoid customer confusion and transaction disputes, you must enter a description that clearly identifies your business as well as an accurate URL.

  5. Verification and Underwriting
  6. To verify your identity, we will require additional information including your business Registration copy and bank account details. We may also ask for additional information to help verify your identity and assess your business risk including business invoices, a driver’s license or other government issued identification, or a business license. Your failure to comply with any of these requests within five (90) days may result in suspension or termination of your Yedpay Account.
    After we have collected and verified all your information, Yedpay will review your account and determine if you are eligible to use the Yedpay Services. We will notify you once your account has been either approved or deemed ineligible for use of the Yedpay Services.
    By accepting the terms of this Agreement, you authorize us to retrieve information about you by using third parties, including credit bureaus and other information providers. You acknowledge that such information retrieved may include your name, address history, credit history, and other data about you. Yedpay may periodically update this information to determine whether you continue to meet our eligibility requirements.
    You agree that Yedpay is permitted to contact and share information about you and your application (including whether you are approved or declined), and your use of Yedpay with the financial services providers we work with. This includes sharing information (a) about your transactions for regulatory or compliance purposes, (b) for use in connection with the management and maintenance of the program, (c) to create and update their customer records about you and to assist them in better serving you, and (d) to conduct Yedpay’s risk management process.

  7. The Yedpay Services
  8. By registering for Yedpay, you confirm that you are a business entity authorized to conduct business by the state in which you operate.

  9. Prohibited Businesses
  10. There are certain categories of businesses and business practices for which the Yedpay Services cannot be used (“Prohibited Businesses”). Many of these Prohibited Business categories are imposed by Card Network rules or the requirements of our banking providers or processors. We maintain a list here: Prohibited Businesses. By registering a Yedpay Account, you confirm that you will not use the Yedpay Services in connection with any of the Prohibited Businesses. If you are uncertain as to whether a business is a Prohibited Business, or have questions about how these requirements apply to your business, please contact us.

Receiving your Funds from Transactions

Funds from your transactions (minus our fees) are paid to you at a schedule communicated to you once your Yedpay Account is approved. Initial payouts for your transactions are typically sent to your bank within 15 days. A certain amount of your funds may be subject to an additional hold period (e.g. Reserve Account) with terms determined by your perceived risk and transaction history. You are responsible for refunds, returns, and liable for customer disputes (chargebacks).
  1. Processing Transactions
  2. You agree that you will honor all eligible payment by your customers for your products and services , this Agreement and any operating guides that we may provide you from time to time. You agree that you will obtain an authorization for each transaction.
    We may offer you the ability to have funds settled to your bank account in a currency different from the one in which you accepted payment from a customer (“Multi-Currency Processing”). To use this service, you must provide us with a valid bank account for each currency for which you request settlement, based on our list of available settlement currencies. We may add or remove currencies from our list of available settlement currencies at any time.You may change the bank account information or other settings associated with your use of Multi-Currency Processing, but any such changes will only affect subsequent charges.
  3. Payouts and Transaction History
  4. Funds will be settled in the Bank Account in the amounts actually received (less our Fees, as defined below) for transactions processed by YEDPAY Payments. Your Bank Account must be located at bank branch held in the name of your business. You are responsible for the accuracy and correctness of information regarding your Bank Account, including inputting the correct information as part of registering or updating your Bank Account. Funds for transactions may be transferred to your Bank Account prior to funds being settled from the Card Networks. The actual timing of the transfers to your Bank Account of the settling funds will be subject to the Payout Schedule.
    After transfer of funds is initiated to your Bank Account, we will update information in your Yedpay Account to reflect settlement. Information regarding your transactions that are processed and settled using YEDPAY Payments (“Transaction History”) will be available to you when you login to your YEDPAY Account. While will provide Transaction History in your YEDPAY Account, you are solely responsible for compiling and retaining permanent records of all transactions and other data associated with your YEDPAY Account as may be required for your business.
  5. Payout Schedule
  6. “Payout Schedule” refers to the time it takes for us to initiate a transfer to your designated Bank Account of settlement funds arising from card transactions processed through YEDPAY Payments. Once your Bank Account information has been reviewed, YEDPAY will initiate transfer of settlement funds (net of Fees, Chargebacks, and other funds owed to us for any reason) in accordance with the Payout Schedule, the terms of which will be made available to you when you login to your YEDPAY management dashboard.
    We reserve the right to change the Payout Schedule, suspend payouts to your Bank Account, or initiate a Reversal should we determine it is necessary due to pending disputes, excessive or anticipated excessive Chargebacks or Refunds, or other suspicious activity associated with your use of YEDPAY Payments, or if required by law or court order.
  7. Refunds and Returns
  8. You agree to submit all Refunds for returns of your products and services that you used YEDPAY Payments to receive payment through YEDPAY Payments to your customers in accordance with this Agreement.
    Full Refunds must be for the exact dollar amount of the original transaction including tax, handling charges, and other. The Refund amount may not exceed the original sale amount except by an amount equal to any reimbursements to customer for postage costs incurre