Merchant E-Agreement
MERCHANT E-AGREEMENT
This Merchant E-Agreement ("Agreement") is entered into by and between Pursaa with Cowries Money Co Ltd ("Pursaa"), a company duly registered under the laws of Cameroon, and the Merchant ("Merchant"), collectively referred to as "Parties."
Effective Date: October 5th 2023
1. BACKGROUND
1.1 Pursaa is a reputable financial services provider specializing in remittances, payments, and related financial services. Pursaa offers a secure and efficient platform for individuals and businesses to transfer money globally.
1.2 Merchant is a business entity seeking to utilize Pursaa's services to facilitate payment processing and remittance services for its customers.
2. DEFINITIONS
In this Agreement, the following terms shall have the meanings set forth below:
2.1 "Agreement" means this Merchant E-Agreement, including all appendices, exhibits, and amendments.
2.2 "Pursaa Services" refer to the financial and remittance services provided by Pursaa, including but not limited to payment processing, funds transfer, currency conversion, and related services.
2.3 "Merchant Services" refer to the services offered by the Merchant, as described in Appendix A.
3. SERVICES PROVIDED
3.1 Pursaa Services: Pursaa agrees to provide Merchant with access to Pursaa's payment processing and remittance platform, subject to the terms and conditions of this Agreement.
Pursaa's services include:
Payment Processing: Pursaa will enable Merchant to accept various payment methods, including credit cards, digital wallets, and bank transfers.
Funds Transfer: Pursaa will facilitate the secure transfer of funds between Merchant and its customers.
Currency Conversion: Pursaa offers currency conversion services to facilitate international transactions.
Transaction Monitoring: Pursaa provides real-time transaction monitoring to detect and prevent fraudulent activities.
3.2 Merchant Services: Merchant agrees to offer its services to customers in accordance with the terms and conditions set forth in this Agreement and Appendix A.
Merchant's services may include:
Goods or Services Sales: Merchant may sell products or offer services to customers through its platform.
Customer Support: Merchant shall provide customer support for inquiries, disputes, and issue resolution.
Pricing and Billing: Merchant is responsible for setting prices, managing billing, and refunding customers, if applicable.
4. PAYMENT PROCESSING
4.1 Payment Processing: Pursaa shall facilitate the processing of payments made by customers of Merchant for Merchant Services, including funds transfer and currency conversion.
4.2 Fees: The Parties agree to the fee structure outlined in Appendix B for the utilization of Pursaa's payment processing services.
Pursaa's fee structure may include:
Transaction Fees: Charges incurred per successful transaction.
Currency Conversion Fees: Fees for currency conversion, if applicable.
Monthly Subscription Fees: Fees for access to Pursaa's services.
5. COMPLIANCE
5.1 Anti-Money Laundering (AML): Both Parties shall comply with all applicable AML and Know Your Customer (KYC) regulations. Pursaa shall conduct due diligence on Merchant in accordance with its AML/KYC policies.
Compliance with AML/KYC regulations includes:
Customer Verification: Merchant will ensure that customer identities are verified as per AML/KYC standards.
Transaction Monitoring: Both Parties will monitor transactions for suspicious activities and report them as required by law.
5.2 Data Protection: Merchant and Pursaa shall adhere to all relevant data protection laws and regulations. Pursaa's Privacy Policy (Appendix C) outlines the data protection practices relevant to this Agreement.
Data protection includes:
Data Encryption: Ensuring data security during transmission and storage.
Data Access Control: Limiting access to customer data to authorized personnel.
Data Breach Reporting: Reporting data breaches to regulatory authorities and affected parties as required.
6. INTELLECTUAL PROPERTY
6.1 Ownership: Pursaa retains ownership of all intellectual property, including software, provided to Merchant for the purposes of this Agreement.
Ownership of intellectual property includes:
Software Usage: Merchant may use Pursaa's software solely for the purposes outlined in this Agreement.
Non-Disclosure: Merchant agrees not to disclose or share Pursaa's proprietary software with third parties.
7. TERM AND TERMINATION
7.1 Term: This Agreement shall commence on the Effective Date and continue in effect until terminated by either Party as per the terms outlined in Appendix D.
Termination terms may include:
Termination for Convenience: Either Party may terminate this Agreement with prior notice.
Termination for Cause: Termination due to breaches of the Agreement or legal violations.
8. CONFIDENTIALITY
8.1 Confidential Information: Both Parties shall keep confidential all non-public information received during the course of this Agreement.
Confidentiality obligations include:
Non-Disclosure: Neither Party shall disclose confidential information to unauthorized parties.
Data Security: Implementing security measures to protect confidential data.
9. GOVERNING LAW AND DISPUTE RESOLUTION
9.1 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of [Your Jurisdiction].
Governing law and dispute resolution may include:
Mediation: Attempting mediation to resolve disputes before pursuing legal actions.
Jurisdiction: Defining the jurisdiction where legal disputes will be resolved.
10. MISCELLANEOUS
10.1 Entire Agreement: This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings.
Miscellaneous provisions include:
Amendments: Procedures for amending the Agreement.
Notices: Methods for official communication between Parties.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Effective Date.
Section 11: Contacting Our Merchant Team
11.1 Introduction
This section outlines the various means by which merchants can initiate contact with Pursaa's dedicated Merchant Team for inquiries, assistance, or information related to their merchant account and partnership with Pursaa.
11.2 Contact Options
Merchants are encouraged to reach out to our Merchant Team through the following contact options:
11.2.1 Email Communication
For direct and efficient communication, merchants may send an email to our Merchant Team at merchant@pursaa.com. This email channel is monitored regularly, and our team is committed to providing timely responses to address merchant inquiries and specific needs.
11.2.2 Contact Form
Alternatively, merchants may utilize the contact form available on our official website. To access the contact form, please visit www.pursaa.com/contact. Merchants are requested to provide their contact information along with a brief description of their inquiry. Submission of the form ensures that a member of our Merchant Team specializing in the relevant area will promptly reach out to the merchant.
11.3 Commitment to Support
At Pursaa, we place significant emphasis on the satisfaction and success of our valued merchant partners. Our dedicated Merchant Team is poised to deliver the highest level of service and support, aligning with merchants' business objectives.
11.4 Conclusion
Pursaa values the partnership with its merchants and aims to provide accessible channels for communication and support. This section emphasizes the importance of reaching out to the Merchant Team for inquiries, assistance, and guidance, reinforcing our commitment to fostering successful partnerships.
