Our Members’ Payment Account
Three types of Payment Accounts are available through the Service:
If the members are a permanent U.S. resident, a U.S. citizen, or a business entity authorized to do business and having a physical presence in the United States, they may hold monetary balances in their Payment Account (your "Balance").
They are not required to maintain a Balance to use the Service.
When the users carry a Balance, they appoint us as their agent with respect to their Balance. The users’ Balance is not insured by the Federal Deposit Insurance Corporation. Prior to disbursing funds to the users, we may:
Our users will not receive interest or any other earnings on your Balance. To the extent required by applicable laws:
It is required that the users maintain a minimum balance in their Payment Account or establish a separate reserve account (a "Reserve") to secure the performance of their payment obligations under this Agreement.
The Reserve will be in an amount we determine to cover our risk from providing the Service to you, including without limitation anticipated Chargebacks or credit risk; or the amount designated by our Processor (described below).
The Reserve will be established upon the users’ initial use of the Service and may be raised, lowered or removed from time to time. The users agree that we may fund
The users grant us a security interest in and lien on all funds held in any Reserve, and they also authorize us to make any withdrawals or debits from the Reserve, without prior notice to them, to collect amounts that they owe us, our Affiliates, or other customers.
The users will execute any additional documentation required for us to perfect our security interest in any funds in the Reserve. This security interest survives for as long as we hold funds in their Reserve. The users irrevocably assign to us all rights and legal interests to any interest or other earnings that accrue or are attributable to their Reserve.
Availability of Funds.
The users’ Payment Accounts may be subject to certain limits, which may affect their capacity to make or receive payments or to withdraw funds. Any limit might be modified at any time. These limits may be affected by several factors:
In addition to account limits, we may restrict transactions to or from the users’ Payments Account or limit access to funds in their Payment Account in an amount and for a period of time we deem necessary to protect us or other users from the following cases:
We may inspect the users’ Payment Account for any reason.
Buyer Dispute Program
When the users sell goods or services using our Service, they will cooperate with us to resolve complaints submitted through our Buyer Dispute Program. The sellers will respond to our inquiries and deliver to us any information requested by us regarding any disputed sales transactions within 5 business days of our request.
The Buyer Dispute Program includes our "StoresGo Guarantee," which applies only to claims involving the sale of physical goods. If we receive a claim under the StoresGo Guarantee (or any substantially consistent offer) concerning one of the clients’ transactions,the seller will deliver to us within 5 business days with respect to the transaction:
If the claim:
Then the seller should pay to StoresGo:
If the users (as a buyer or seller) are involved in a dispute with another user involving the sale of physical goods under our StoresGo Guarantee, the seller should release us (and our agents and employees) from any and all claims, demands, and damages (actual and consequential) in any way connected with the dispute and the transaction.
When a deposit, payment, or withdrawal is authorized to or from the user’s Payment Account, we will update the account activity on the Site, Seller Central (as applicable) and provide the user the transaction confirmation. The confirmation will serve as the receipt.
Except as required by law, you are solely responsible for:
Unauthorized Account Activity
If the user believes that there is an error or unauthorized transaction in the activity associated with the Payment Account, the user should contact us immediately.
The User’s Payment Transactions: Our Role
StoresGo is not a bank, therefore does not offer banking services. We use the services of one or more third parties to provide the Service and process the user’s transactions (each a "Processor"). We just qualify that the transactions are under our Payment Protection Policy described in the Specific Terms for Seller Accounts and Business Accounts. We do not guarantee payments on behalf of any user.
We have a limited role in processing payments that the user authorizes or initiates; we are not involved in any underlying transaction between the user, any other user, or any service providers enrolled in the StoresGo Service “Provider".
StoresGo is not a selling agent in connection with any sale or purchase by the users of goods or services to any person. We have no control over the quality, fitness, safety, reliability, legality, or any other aspect of any good or service that the user may purchase or sell using the Service or any Provider's Application that the users may use to access the Service.
The Users’ Authorization
The users authorizes us to hold, receive and disburse funds in accordance with the user’s payment instructions, whether provided to us directly or through a Provider's Application; or else, to us in our own capacity; furthermore, in our capacity as payment processor acting on behalf of the sellers of goods or services and other third parties that have appointed us as agent for the limited purpose of receiving payments.
The user’s authorization permits us:
We may limit the recipient's ability to use or withdraw the committed funds for a period of time we have agreed with the recipient. The users’ authorizations will remain in full force and effect while they maintain their Payment Accounts with us and for any Bank Account.
We may delay, suspend or reject a transaction from any Payment Account for any of the following reasons:
The amount of a transaction may be charged back or reversed to the user’s Payment Account (a "Chargeback") if the transaction:
The user has to pay immediately to StoresGo the amount of any Chargeback and any associated fees, fines, or penalties listed in the Fee Schedule or assessed by our Processor, processing financial institutions, MasterCard, Visa, American Express, Discover, and other payment card networks, associations, or companies ("Networks").
The users agree to assist us when requested, at their expense, to investigate any of their transactions processed through the Service.
For Chargebacks associated with Cards, we will work with the users to contest the Chargeback with the Network or issuing banks should they choose to contest the Chargeback.
We will request necessary information from the users to contest the Chargeback. Their failure to timely assist us in investigating a transaction, including without limitation providing necessary documentation within 10 days of our request, may result in an irreversible Chargeback.
Subject to this Agreement, we will deposit to the user’s Payment Account the amounts actually received by us for transactions submitted through the Service (less any applicable fees or other amounts we may collect under this Agreement). Unless we, in our sole discretion, elect to deposit funds earlier, funds for any given transaction will not be deposited until we have received or sent the funds and we or the designated financial institutions have accepted the transaction or funds.
Payment Terms: Our Fees
The users agree to pay the applicable fees listed on our Fee Schedule ("Fees") whenever the users use our Service. We reserve the right to change our Fees at any time, including without limitation if we determine the users are incurring excessive Chargebacks. All Balances and all fees, charges, and payments collected or paid through the Service are denominated in U.S. currency. All Fees are charged at the time we process a transaction.
Set-off and Collection Rights
Without limiting our other rights, we may set-off or deduct any amount the users owe us or our Affiliates from your Balance, any proceeds due to the users, their Bank Account, and/or other payment instrument registered with us. If we are unable or do not wish in our sole discretion to set-off any amount the users owe us or our Affiliates, they will immediately pay us, upon demand, such amount. The users also agree to pay all costs and expenses associated with collection in addition to the amount collected, including without limitation any applicable interest, attorneys' fees, court costs, collection agency fees, and other legal expenses.
If there is an error in the processing of any transaction, the users authorize us to debit or credit their Payment Account or Bank Account, as applicable, to correct such error. If we are unable to debit the Bank Account the users select for any reason, the users authorize us to resubmit the debit, plus any applicable fees, to any other Bank Account or payment instrument that the users have on file with us.
The users are responsible for determining any and all taxes and duties assessed, incurred, or required to be collected, paid, or withheld for any reason in connection with any request for:
The users also are responsible for collecting, withholding, reporting, and remitting correct Taxes to the appropriate tax authority. We may provide the users a means for the users to determine and apply taxes to their transactions, but we and our Affiliates are not obligated to determine whether taxes apply and are not responsible for calculating, collecting, reporting, or remitting any taxes to any tax authority arising from any transaction. Information about the users and their transactions using the Service may be reported to the Internal Revenue Service (“IRS”).