ShopBase Marketplace Payments Policy

Welcome to ShopBase Marketplace Payments.

This ShopBase Marketplace Payments Services Policy (“Policy”) is an official policy applied for ShopBase Marketplace Payments users. In this document, ShopBase Marketplace Payments are referred to as as “ShopBase Marketplace Payments”, "we", “us”, or “our” and the entity or person are referred to as “you”, “user”, or “your”.

If you do not understand any of the aspects of this Policy, please contact us before using the Services.

A. Supported & Restricted Businesses

1. Supported Businesses

Only merchants of White labels, and Dropshipping businesses can register for ShopBase Marketplace Payments.

2. Restricted Businesses

The following categories of businesses and business practices are prohibited from using the Payments Services (“Prohibited Businesses”). Prohibited Business categories may be imposed by law or through the Payment Network Rules, by ShopBase or the requirements of the Processor’s Financial Services Providers. The types of businesses listed below are representative but not exhaustive. If you are uncertain as to whether your business is a Prohibited Business or have questions about how these requirements apply to you, please contact us. We may add to or update the Prohibited Business list at any time.

2.1. Financial and professional services

Investment and credit services

Securities brokers; mortgage consulting or debt reduction services; credit counseling or repair; investment services; real estate opportunities; lending instruments

Money and legal services

Financial institutions, money transmitters and money services businesses, check cashing, wire transfers, money orders; currency exchanges or dealers; bill-pay services; crowdfunding; insurance; bail bonds; collections agencies; law firms collecting funds for any purpose other than to pay fees owed to the firm for services provided by the firm (e.g., firms cannot use ShopBase to hold client funds, collection or settlement amounts, disputed funds, etc.)

Virtual currency or stored value

Virtual currency that can be monetized, resold, or converted to physical or digital products and services or otherwise exit the virtual world (e.g., Bitcoin); cryptocurrency mining equipment; initial coin offerings; digital wallets, sale of stored value or credits maintained, accepted and issued by anyone other than the seller

2.2. IP Infringement, regulated or illegal products and services

Adult content and services

Pornography and other obscene materials (including literature, imagery and other media) depicting nudity or explicitly sexual acts; sites offering any sexually-related services such as prostitution, escorts, pay-per view, adult live chat features; sexually oriented items (e.g., adult toys); adult video stores and sexually oriented massage parlors; gentleman’s clubs, topless bars, and strip clubs; sexually oriented dating services

Counterfeit or unauthorized goods

Counterfeit goods; unauthorized sale or resale of brand name or designer products or services; sale of goods or services that are illegally imported or exported

Gambling

Lotteries; bidding fee auctions; sports forecasting or odds making for a monetary or material prize; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; games of chance including legal or illegal forms of gambling, internet gambling, sweepstakes and contests with a buy-in or cash prize; charity sweepstakes and raffles for the explicit purpose of fundraising

Intellectual property or proprietary rights infringement

Sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder; any product or service that directly infringes or facilitates infringement upon the trademark, patent, copyright, trade secrets, or proprietary or privacy rights of any third party; use of ShopBase intellectual property without express consent from ShopBase; use of the ShopBase name or logo, including use of ShopBase trade or service marks inconsistent with the ShopBase Trademark Usage Guidelines, or in a manner that otherwise harms ShopBase or the ShopBase brand; any action that implies an untrue endorsement by or affiliation with ShopBase

Regulated or illegal products or services

Cannabis dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online pharmacies; prescription-only products including card-not-present pharmaceuticals; peptides and research chemicals; fake references or ID-providing services; age restricted goods or services; weapons and munitions; gunpowder and other explosives; fireworks and related goods; toxic, flammable, and radioactive materials; products and services with varying legal status on a state-by-state basis; goods or services, the sale of which is illegal under applicable law in the jurisdictions to which your business is targeted or directed

Sanctions

Use of the Payments Services or use of ShopBase Marketplace Payments in or for the benefit of a country, organization, entity, or person embargoed or blocked by any government, including any person/entity on government sanctions lists

2.3. Products or services that are otherwise prohibited by law or our financial partners

Aggregation

Engaging in any form of licensed or unlicensed aggregation of funds owed to third parties, factoring, or other activities intended to obfuscate the origin of funds; payment facilitation

Drug paraphernalia

Any equipment designed for making or using drugs, such as bongs, vaporizers, and hookahs

High risk businesses

Bankruptcy lawyers; remote technical support; psychic services; essay mills; chain letters; door-to-door sales; medical benefit packages; telemedicine and telehealth services; travel reservation services and clubs; airlines; cruises; timeshares; circumvention, jamming and interference devices; prepaid phone cards, phone services; telemarketing, offering substantial rebates or special incentives as an inducement to purchase products or services; telecommunications manipulation equipment; forwarding brokers; negative response marketing; subscriptions over one year; extended warranties; government grants; embassy, foreign consulate, or other foreign governments; charities without proper registration; credit card and identity theft protection; the use of credit to pay for lending services; any businesses that we believe poses elevated financial risk, legal liability, or violates card network or bank policies; any business or organization that a. engages in, encourages, promotes or celebrates unlawful violence or physical harm to persons or property, or b. engages in, encourages, promotes or celebrates unlawful violence toward any group based on race, religion, disability, gender, sexual orientation, national origin, or any other immutable characteristic

Multi-level marketing

Pyramid schemes network marketing and referral marketing programs

Pseudo pharmaceuticals

Nutraceuticals, pseudo-pharmaceuticals and other products that make health claims that have not been approved or verified by the applicable local and/or national regulatory body

Sale of Twitter followers, Facebook likes, YouTube views, Instagram followers, and other forms of social media activity

Substances designed to mimic illegal drugs

Sale of a legal substance that provides the same effect as an illegal drug (e.g., salvia, kratom)

Use of ShopBase Marketplace Payments in a manner inconsistent with its intended use or as expressly prohibited in the Processor Terms

Use of ShopBase Marketplace Payments principally as a virtual terminal (e.g., submitting card transactions by manually inputting card information); processing where there is no bona fide good or service sold, or donation accepted; card testing; evasion of card network chargeback monitoring programs; cross-border acquiring; sharing cardholder information with another merchant for payment cross-sell product or service

Video game or virtual world credits

Sale of in-game currency unless the merchant is the operator of the virtual world

2.4. Unfair, predatory, or deceptive practices

Get rich quick schemes

Investment opportunities or other services that promise high rewards

Mug shot publication or pay-to-remove sites

Platforms that facilitate the publication and removal of content (such as mug shots), where the primary purpose of posting such content is to cause or raise concerns of reputational harm

No-value-added services

Sale or resale of a service without added benefit to the buyer; resale of government offerings without authorization or added value; sites that we determine in our sole discretion to be unfair, deceptive, or predatory towards consumers

2.5. Dropshipping products via third parties such as Amazon, Walmart, eBay, etc. without a fixed supplier

2.6. Print-on-demand products

2.7. Digital products

B. ShopBase Marketplace Payments Pricing

The payment processing rate (also known as application fee) applied for all ShopBase Marketplace Payments users is 3.95% + $0.3 per order.

The registration of ShopBase Marketplace Payments is free of charge.

An additional 1% fee will apply per transaction if your customers pay for orders by international cards (card's issuing country is different from your account's country, which is the you registered on the KYC form when you signed up for ShopBase Marketplace Payments). For example, if your registered ShopBase Marketplace Payments account's country is the United States, if a customer makes a payment with a card issued from the United Kingdom, an additional 1% will be charged per transaction.

C. Registration for ShopBase Marketplace Payments

To register for ShopBase Marketplace Payments, go to Settings > Payment Providers > Register for ShopBase Marketplace Payments account. Please refer to this document on how to register for ShopBase Marketplace Payments for detailed information.

Your registration form will be reviewed within 7 calendar days. During the review period, ShopBase Marketplace Payments team will contact you to request additional documents if necessary. Your registration form will be expired if we do not hear from you after 7 calendar days and you need to contact our support team via Live Chat if you wish to re-register the form.

Only merchants with at least 30-90 days of sales record on the ShopBase platform will be reviewed and approved to use ShopBase Marketplace Payments if they meet the requirements. New registrations by merchants with no business activities on ShopBase platform would be rejected.

D. Holds & Payouts

Holds

ShopBase Marketplace Payments is holding a reserve of your funds over 90 days for all of your business transactions. The reserve is money from incoming payments that we set aside in your ShopBase Marketplace Payments account to cover losses due to chargebacks, claims or payment reversals.

After you have successfully created a ShopBase Marketplace Payments account, the hold rate of your account will be classified into one of the following levels based on your store's shipping and fulfillment performance:

Normal risk levels:

(*) When an account reaches R2 - Elevated High Risk level, 20% of your total revenue in the last 30 days (minimum US$10,000) will be held until your risk level is reduced to R3. This hold amount (also called reverse amount) is used to cover the chargeback fee in case there is an increase in chargebacks. This reverse amount is released 90 days after the account's risk level reduces, or reach R1 when the account is terminated.

Your level will be classified based on your store's operational status, dispute rate & fulfillment performance. In case your account's level changes, your order profit will be released corresponding to the new level's rule. For any further support on verifying your stores and accounts, kindly contact ShopBase Marketplace Payments team.

If your risk level remains at R2 for 90 consecutive days without any improvements, the level will be adjusted to R1 and the account will be terminated. To achieve the lower risk level, you need to constantly improve your business performance (for example: lower dispute rate, reduce fulfillment time, etc.).

In case your risk level changes, a notification will be sent to your registered email, and any existing orders that have not been available to payout will be updated with the new risk level's hold rate.

Payouts

The amount that is collected from ShopBase Marketplace Payments will be moved to Pending to review section in your ShopBase Balance. It will be moved to Available to payout after at least 3 calendar days (depending on your risk level). Please refer to this article for more information on how to payout with ShopBase Marketplace Payments.

The first payout will be reviewed within at least 10 business days after the request creation date.

Actions

You must routinely monitor and update the production and shipping status of orders in your store to ensure a seamless sales process, minimize disputes, and maintain a stable payment gateway.

The ShopBase Marketplace Payment Support team will notify you via email or the in-app notification tool of any orders with fulfillment issues that may result in disputes in accordance with this policy. In some cases, ShopBase will need to cancel these orders in order to avoid disrupting the payment gateway operation. As a result, when using this payment method, you must actively resolve the issue per ShopBase's request and notify the support team once the request is completed.

E. Supported countries

ShopBase Marketplace Payments currently supports 03 countries in the world. You can see a full list of supported countries by ShopBase Marketplace Payments in this article.

F. Termination

We may suspend your ShopBase Marketplace Payments Account and your ability to access funds in your ShopBase Marketplace Payments Account, or terminate this Agreement, if:

(i) your dispute rate is high

(ii) we determine in our sole discretion that you are ineligible for the Services because of significant fraud or credit risk, or any other risks associated with your ShopBase Marketplace Payments Account;

(iii) you use the Services in a prohibited manner or otherwise do not comply with any of the provisions of this Policy;

(iv) any Law, Payment Method Provider or Payment Method Acquirer requires us to do so; or

(v) we are otherwise entitled to do so under this Policy.

What will happen if my account is terminated?

Kindly refer to the image below to see what will happen if your account is suspended.