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 and locally in Cameroon.
1.2 Merchant is a business entity seeking to utilize Pursaa's services to facilitate payment processing and remittance services for its customers through wallet-based systems and other payment solutions.
2. DEFINITIONS
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, wallet services, funds transfer, currency conversion, and related services.
2.3 "Merchant Services" refer to the services offered by the Merchant, as described in Appendix A.
2.4 "Wallet" refers to the digital account provided by Pursaa for Merchants to receive, store, and transfer funds electronically.
3. SERVICES PROVIDED
3.1 Pursaa Services: Pursaa agrees to provide the Merchant with access to Pursaa's payment processing, remittance platform, and wallet solutions, subject to the terms and conditions of this Agreement.
Pursaa's services include:
Payment Processing: Pursaa will enable the Merchant to accept various payment methods, including credit cards, digital wallets, bank transfers, and mobile money.
Wallet Services: Merchants will receive access to Pursaa’s wallet system, allowing for secure storage of funds, transfers to customers, and local withdrawals.
Funds Transfer: Pursaa will facilitate secure transfers of funds between the Merchant and its customers.
Currency Conversion: Pursaa offers currency conversion services to facilitate both local and international transactions.
Transaction Monitoring: Pursaa provides real-time transaction monitoring to detect and prevent fraudulent activities.
3.2 Merchant Services: The 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: The Merchant may sell products or offer services to customers through its platform.
Customer Support: The Merchant shall provide customer support for inquiries, disputes, and issue resolution.
Pricing and Billing: The 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 the Merchant for Merchant Services, including wallet funding, transfers, and withdrawals.
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 includes:
Transaction Fees: Charges incurred per successful transaction.
Currency Conversion Fees: Fees for currency conversion, if applicable.
Wallet Maintenance Fees: Monthly charges for the operation and maintenance of digital wallets.
Subscription Fees: Optional fees for premium features and 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 the Merchant in accordance with its AML/KYC policies.
Compliance measures include:
Customer Verification: Merchants must ensure 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.
6. INTELLECTUAL PROPERTY
6.1 Ownership: Pursaa retains ownership of all intellectual property, including software, provided to the Merchant for the purposes of this Agreement.
Ownership includes:
Software Usage: The Merchant may use Pursaa’s software solely for the purposes outlined in this Agreement.
Non-Disclosure: The 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 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 Cameroon.
Dispute resolution may include:
Mediation: Attempting mediation to resolve disputes before pursuing legal actions.
Jurisdiction: Defining Cameroon’s courts as the jurisdiction for legal disputes.
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.
11. CONTACTING OUR MERCHANT TEAM
11.1 Introduction
Merchants can contact Pursaa’s dedicated Merchant Team for inquiries, assistance, or account-related information.
11.2 Contact Options
Email Communication: Merchants may email merchant@pursaa.com for direct support.
Contact Form: Visit www.pursaa.com/contact and submit the online form. A Merchant Team member will respond promptly.
11.3 Commitment to Support
Pursaa is committed to providing excellent service and support to our valued merchant partners.
Last Updated: January 5, 2025
