Terms of Service

Table of Contents

1 Definitions

2 The Plastiq Services

3 Eligibility and Usage

4 Acceptable Use

5 Accounts

6 Payment Methods

7 Payments

8 Plastiq Fees

9 Cross-Border Payments

10 Promotions

11 Communications

12 Limitation of Liability

13 Disclaimer of Warranties

14 General

Last Revision Date: February 28th, 2018

Welcome to Plastiq

Thank you for your consideration and usage of Plastiq! Our mission is empowering consumers and businesses with the ability to pay for any good or service on card, regardless of whether or not cards are historically accepted.

The following is a formal description of what you can expect from using our service. We outline how it all works – including your rights as a user and our policies and procedures which enable us to operate this groundbreaking payment service.

Preamble

This User Terms of Service ("Agreement") applies to your use of www.plastiq.com (the "Website") and the Services (as defined herein) and is a legal contract between you and Plastiq Inc. ("Plastiq"/"we"/"us"). If you are in Texas, this is a legal contract between you and PLV Inc. DBA PLV TX Branch Inc., a Plastiq Inc. subsidiary, for whom Plastiq Inc. acts as an agent. (For Texas users, “Plastiq,” “we,” and “us” refer to both PLV Inc. DBA PLV TX Branch Inc. and Plastiq Inc.) Any questions regarding this Agreement should be directed to service@plastiq.com. We may amend this Agreement at any time, for example to reflect changes to the Services or compliance with the law and will post notice of the latest version on the Website. The revised version will be effective immediately after we post it. Changes will not apply retroactively. Your continued use of the Services following any update to this Agreement will be deemed acceptance of the updated Agreement. If you do not agree to the modified terms of this Agreement, you should discontinue your use of the Services.

THIS IS AN IMPORTANT DOCUMENT, WHICH YOU MUST CONSIDER CAREFULLY WHEN CHOOSING WHETHER TO USE THE SERVICES. PLEASE READ THIS AGREEMENT CAREFULLY PRIOR TO USING OUR WEBSITE. BY BROWSING, REGISTERING FOR, ACCESSING OR USING ANY PLASTIQ SERVICE, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREE TO BE BOUND BY THIS AGREEMENT, INCLUDING ANY ADDITIONAL GUIDELINES REFERENCED IN THIS AGREEMENT (INCLUDING OUR PRIVACY POLICY WHICH GOVERNS OUR COLLECTION AND USE OF PERSONAL INFORMATION). IF AT ANY TIME YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS, YOU DO NOT HAVE PERMISSION TO USE THIS WEBSITE AND YOU MUST IMMEDIATELY TERMINATE YOUR USE OF THE SERVICES AND FOLLOW THE APPLICABLE INSTRUCTIONS IN THIS AGREEMENT.

1 Definitions

This agreement may reference one or more of the following terms, which shall be defined as outlined below:

  1. "Account" means a User profile that is created by a consumer or business in order to access and use the Plastiq Services.
  2. "Bill" means information associated to a Payment, which may be stored in the Plastiq Services or retrieved from a third party, and is used to facilitate Payment submission.
  3. "Business Day" is every Monday through Friday, excluding statutory holidays in the USA and Canada.
  4. "Claim" means a demand for money due, for property, for damages or for enforcement of a right, which may be filed against Plastiq.
  5. "Default Payment Method" means a Payment Method set in a User’s Account as the default for all new Payment Submissions.
  6. "Dispute" means a dispute between a User and Plastiq.
  7. "Fee" means the amount paid to Plastiq for access to and use of the Services.
  8. "Merchant Category Code" (or "MCC") means a four-digit number used to classify businesses by the type of goods or services they provide.
  9. "Plastiq," "we," "us" or "our" means Plastiq Inc. and its subsidiaries.
  10. "Payment" means the delivery of funds and data via Services in exchange for rendered goods or services.
  11. "Payment Method" means a permitted payment method used to provide funds for Payments remitted via the Services, including but not limited to credit or debit cards.
  12. "Personal Data" means any personally identifiable information concerning a User, including but not limited to the following: name, email address, billing/shipping address, phone number, and Payment Method data.
  13. "Principal" means the total funds which will be sent to the Recipient pursuant to a Payment.
  14. "Processing Date" is the date on which a Payment Method is debited to initiate the delivery of a Payment.
  15. "Promotion" means any criteria-based program which causes the Services to be provided in a non-standard way, including altered or reduced Fees.
  16. "Provider" means any third party Plastiq uses to provide the Services.
  17. "Recipient" means the receiver of funds and data associated to a Payment.
  18. "Scheduled Payment" is a Payment which has been submitted with a future Processing Date.
  19. "Services" means all our products and services and any other features, technologies and/or functionalities offered by us on the Website or through any other means.
  20. "Submission Date" is the date on which a User initiates a request for Payment delivery via the Services.
  21. "Subsidy" means a portion of the Fee which your Recipient may apply as a discount to the amount owed, which will effectively reduce any additional cost you may incur by your usage of the Services.
  22. "User", "you", or "your" means you and any other person or entity using the Services.
  23. "Website" means the plastiq.com website, including all subpages and successor pages.

2 The Plastiq Services

2.1 Services Description

Plastiq provides Services which enable Payments to Recipients, including Recipients who do not accept a User's preferred Payment Method. Plastiq sometimes partners with Recipients to facilitate their receipt of funds and crediting of customer accounts. Other Recipients also may be paid, often through bill payment networks or with physical checks (cheques). For access to and use of the Services, Plastiq may charge Users a Fee for use of the Services, often at the time of Payment submission.

Currently supported Payment Methods are enumerated in Section 6.2 of this Agreement. Plastiq does not issue payment cards or extend credit.

2.2 Supported Geographies

Plastiq enables Payments to any Recipient that accepts funds in either the United States or Canada. Users can initiate Payments from any geography, provided that their Payment Methods are supported by Plastiq (per Section 6.2).

2.3 Transaction Classification

Insofar as Plastiq supports Payments made in exchange for rendered goods or services, associated card authorizations are prepared and submitted as purchases rather than cash advances.

In some cases where Plastiq does not have an existing relationship with the merchant, your transactions may be treated as a cash advance. If this is the case, we will notify you prior to Payment submission, and you may switch to a different card or opt out of the submitting the Payment altogether.

Treatment of Plastiq authorizations is managed in the sole discretion of the issuing banks. You agree to not to hold Plastiq liable for any consequences resulting from issuer treatment of card authorizations, which may include but are not limited to cash advance fees, impacted reward program earnings, or altered credit programs and interest rate terms.

2.4 Fund Ownership

Principal funds to most US Recipients do not pass into Plastiq’s legal ownership at any time from Payment initiation to successful delivery, including any subsequent refunds.

Plastiq uses an account at Silicon Valley Bank (SVB) that is held in SVB’s name. The account title also shows that this account is for the benefit of customers of Plastiq. Plastiq has the right to instruct SVB on the use of funds in the account, including to receive funds from you and to then send funds to your Recipient based on your instructions.

SVB acts only as a service provider to Plastiq, and its role in the completion of a payment is restricted to treasury disbursement. You are not a customer of SVB. Plastiq provides card processing services to you and dispatches payment instructions to SVB for the purpose of accomplishing these payments.

For transactions involving PLV Inc., principal funds do pass to PLV's legal ownership.

2.5 An Independent Third-Party

Plastiq is an independent, third-party service that is not formally affiliated with your Recipients, except where otherwise indicated. You acknowledge and agree that your use of the Services does not in any way constitute a tri-party agreement between you, Plastiq, and your Recipients.

Accordingly, Plastiq assumes no responsibility and will have no liability for any consequences resulting from your interactions or contracts with Recipients, including but not limited to payment terms, the proper and timely delivery of goods or services, and any associated disputes which may arise. Plastiq in no way endorses, recommends, or bears any responsibility or liability for any products, services or statements presented by Recipients. Recipient statements and opinions are not representative of Plastiq or its business partners.

3 Eligibility and Usage

3.1 Eligibility Requirements

In order to use the Services, you must (i) be an individual at least 18 years of age and able to form legally binding contracts under applicable law, (ii) have a valid and active e-mail address, and (iii) have a valid deposit account or payment card issued on the MasterCard®, Visa®, and American Express® networks. Other restrictions may apply.

3.2 Identity Authentication

Personal Data provided through accessing the Website and using the Services is governed by our Privacy Policy located at plastiq.com/privacy. To help the government fight terrorism and money laundering activities, Plastiq obtains, verifies, and sometimes stores certain Personal Data. You authorize Plastiq, directly or through third parties, to make any inquiries we consider necessary to verify your identity. This may include asking you for further information, requiring you to take steps to confirm ownership of your email address or financial instruments, and verifying your Information against third party databases or through other sources. If Plastiq cannot verify your identity, Plastiq reserves the right to deny you use of the Services. For more information, please review our Privacy Policy.

3.3 Referral Data

If you are referred to the Plastiq Services from another business or partner, you acknowledge and accept that the third party may pass data to Plastiq about your personal identity, contact details, payment information, or usage and behavior metrics in order to facilitate your use of the Services. Plastiq is not responsible for obtaining the necessary consent for the transmission of such data, though once the data are passed into our Systems, they will be governed by our Privacy Policy located at plastiq.com/privacy.

3.4 Individual Usage

You agree that you will not provide access to your Plastiq Account to any party other than yourself, and you will take reasonable precautions to safeguard your password and other authentication details and keep them confidential. You are responsible for all actions submitted and data accessed by your Account, and Plastiq holds no liability for any costs, difficulties, or disputes arising from unauthorized or compromised usage of your Account, except where Plastiq has explicitly accepted responsibility.

3.5 System Availability

Plastiq will use commercially reasonable efforts to make the Services available at all times except for: (a) planned downtime for routine maintenance or system updates, or (b) any unavailability due to Force Majeure. Plastiq will attempt to notify you in advance of any planned downtime.

3.6 Browser Support

Plastiq supports the latest versions of all major web browsers, and reserves the right to deprecate support for older versions at any time. Web browsers currently supported by Plastiq include Microsoft Internet Explorer 11, Microsoft Edge 12 & 13, Mozilla Firefox 46 & 47, Google Chrome 50 & 51, Apple Safari 8 & 9, iOS Safari 8.4 to 9.2, Chrome for Android 47. Please upgrade to the latest version of your preferred web browser for an optimal experience.

3.7 External Links

The Web Site may contain links to third-party web sites ("External Sites"). These links are provided solely as a convenience to you and not as an endorsement by us of the content on such External Sites. The content, products, or services (collectively, "Content") of such External Sites is developed and provided by others. You should contact the site administrator or webmaster for those External Sites if you have any concerns regarding such links or any Content located on such External Sites.

We are not responsible for the Content of any linked External Sites and do not make any representations regarding the accuracy or functionality of any Content on such External Sites. You should take precautions when downloading files from all web sites to protect your computer from viruses and other destructive programs. If you decide to access any External Sites, you do so at your own risk.

3.8 Applicable Taxes and Penalties

You are responsible for all, if any, applicable taxes arising from your use of the Services. You are furthermore responsible for all fees, fines, penalties and other liability incurred by Plastiq, yourself, or a third party caused by or arising out of your breach of this Agreement, and/or your use of the Services. You agree to reimburse Plastiq or a third party for any and all such liability.

In the event that you are liable for any amounts owed to Plastiq, Plastiq may initiate a transaction via your Default Payment Method or other available payment methods to pay any such amounts. If you do not have sufficient funds available to fulfill such payment, Plastiq may engage in collection efforts and/or other legal actions to recover such amounts from you.

4 Acceptable Use

4.1 Restricted Activities

You agree not to use the Services:

  1. For unsupported transfers, including sending money
    1. to yourself or an entity in which you have control;
    2. on behalf of another party;
    3. not in direct exchange for a rendered good or service;
    4. for alimony or to escrow accounts;
    5. for goods or services whose delivery or completion has not yet been confirmed;
    6. as a donation to an organization not classified as a registered charity;
    7. other than for legitimate payment purposes (e.g., to test or probe card behaviors).
  2. For unsupported goods and services, including
    1. gambling and related activity (such as lotteries, bidding fee auctions, sports forecasting or odds making, fantasy sports leagues, internet gaming, contests, sweepstakes, and games of chance);
    2. unsupported debt types (such as credit card balances or uncollateralized loans);
    3. certain investment accounts or to fund unsupported investments, including but not limited to 401(k) accounts, 403(b) plans, 457 plans, 529 plans, and IRAs;
    4. controlled substances and related goods or services;
    5. tobacco, e-cigaretttes, and e-liquid;
    6. products sold by online pharmacies;
    7. pornography, obscene materials, and sexually-related services;
    8. weapons, munitions, gunpowder, fireworks, and other explosives;
    9. toxic, flammable, and radioactive materials; or
    10. other goods and services subject to government regulation.
  3. For uses not supported by specific Payment Methods:
    1. For Visa cards, mortgage payments are not supported.
    2. For Payments to Recipients in the United States, the use of American Express cards is not supported beyond the following industries: Government, Utilities, Education, Residential Rent, and Club Fees & Memberships.
    3. For Payments to Recipients in Canada, the use of American Express cards is not supported beyond the following industries: Government, Utilities, School, School K-12, Business Services and Residential Rent.
  4. In violation or potential violation of applicable law, regulation, rule, or legal interest, including
    1. sending or receiving potentially fraudulent funds;
    2. in the course of any activity regulated by the Financial Crimes Enforcement Network (FinCEN) or any other relevant regulatory body;
    3. infringement or potential infringement of any party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
    4. acting in a manner that could be defamatory, trade libelous, threatening or harassing;
    5. using your Account or the Services in violation of applicable payment network rules;
  5. In a manner detrimental to our provision of the Services, including
    1. the provision of outdated, false, inaccurate, or incomplete information;
    2. using any promotional or referral programs in a manner deemed abusive or against the intention of said programs;
    3. maintain or using multiple Accounts;
    4. allowing other individuals to access or use your Account;
    5. using an anonymizing proxy;
    6. using the Services in a manner that results in or may result in complaints, Disputes, Claims, chargebacks, fees, fines, penalties and other liability to Plastiq, a third party, or you;
    7. imposing unreasonable demands on our technical or personnel resources;
    8. facilitating viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or Information;
    9. using any robot, spider, other automatic device, or manual process to access, monitor or copy our website without our prior written permission;
    10. using any device, software or routine to bypass our robot exclusion headers, or interfere or attempt to interfere, with our website or the Services;
    11. taking any action that may cause us to lose any of the services provided by our Recipients, payment processors, or other suppliers;
    12. Reselling, re-skinning, or otherwise distributing our Services;
    13. breaching this Agreement or any other agreement or policy that you have agreed to with Plastiq.

If you have a payment use case which is not explicitly mentioned above, and for which you would like to confirm support, please check with our Member Services team by emailing service@plastiq.com.

4.2 Remediation

Plastiq may request more information relating to your use of the Services to seek to identify Restricted Activities. You agree to cooperate in any investigation and to provide confirmation of your identity and any Information you provide to us, as we may require.

If we have reason to believe that you have engaged in any Restricted Activities, Plastiq reserves the right to, in its sole discretion and at any time, take any or all of the following actions:

  1. Close, suspend, or limit your access to your Account or the Services;
  2. Hold, return, or reclaim funds;
  3. Update inaccurate information you provided to Plastiq;
  4. Refuse to provide Services to you in the future;
  5. Contact your bank or notify other Users, law enforcement, or impacted third parties of your actions;
  6. Take legal action against you.

When not otherwise obligated by regulatory or compliance considerations, Plastiq will provide you with notice of any such actions. If applicable, Plastiq may request more information regarding your use of the Services to better determine whether or not Restricted Activities may have occurred.

4.3 Supported Industries

4.3.1 Visa, Mastercard, Discover, JCB and Diners Club

Except as otherwise provided, Users may use Visa, Mastercard, Discover, JCB and Diners Club Payment Methods in any Industry.

4.3.2 American Express

Use of American Express Payment Methods is limited to industries made available to users when selecting your recipient category. Non-accepted categories are noted by Plastiq with a clear warning message indicating as such, and submission of payments to non-permitted industries is a violation of our terms. By selecting the recipient category, you acknowledge that the payment you are making is for the category type you indicate and which is allowable by American Express.

5 Accounts

5.1 Your Plastiq Account

Registering for a Plastiq Account requires providing the following information:

  • Your full name
  • Your email address
  • Your phone number
  • A secure password

You agree to provide complete, accurate, and up-to-date information for all of the above. Additionally, your email address must be confirmed in order to complete your registration.

Successful registration provides you access to the Services, but does not make any warranties about the extent of your access or privileges. Plastiq reserves the right to impose limitations on the size, frequency, and time frame of Payments submitted.

Depending on your usage of the Services, more information may be requested to verify your identify. You acknowledge that your failure to provide satisfactory information upon request may result in limitations being placed on your Account, which may include complete restriction from access and usage of the Services.

5.2 Add-On Services

While Plastiq endeavors to support all payment use cases via its core Services, there are some payment types that will necessitate additional setup, oversight, and/or on-going maintenance. Support for these non-standard use cases may be provided via additional services (“Add-Ons”), which must be specifically activated and may require the collection of additional information and the execution of addendum agreements, which may include different terms and fee structures than those outlined in this Agreement.

Presently, the following Add-Ons are supported:

  • Direct Debit Payments – Plastiq can support payments for which Recipients would prefer to debit a Plastiq bank account rather than receive payments via check (cheque) or bank transfer. Please contact directdebit@plastiq.com to learn more and get started.
  • Payroll Payments – Plastiq can work with all major payroll service providers to enable businesses to fund their payroll on card. Please contact payroll@plastiq.com to learn more and get started.

The availability and terms of Add-Ons are subject to change at any time, and Plastiq reserves the right to deny or revoke access to its Add-On Services at any time at its sole discretion.

5.3 Recipient Programs

Some Plastiq Recipients choose to participate in programs which extend the Plastiq Services. The terms in this Section 5.3 refer to your usage of the Plastiq Services, insofar as you choose to enroll in a Recipient program.

To enroll in a program, you can either follow an invitation link sent from your Recipient or manually enroll via a participating Recipient’s profile in your Plastiq Account.

5.3.1 AutoPay

Plastiq’s AutoPay Program lets you provide a Recipient access to one of your Payment Methods for automatically collecting payments from you.

By enrolling in AutoPay, you authorize your Recipient to charge a designated Payment Method on your behalf, and you further agree to pay all Plastiq Fees applicable at time of Payment submission. Plastiq does not take responsibility for ensuring that your Recipient collects payment on time or in full, or for any consequences resulting from a failed Payment, late Payment, or a Recipient’s failure to credit your customer account.

You may cancel your AutoPay enrollment or change your designated Payment Method at any time.

5.4 Closing Your Account

You may request the closure of your Account at any time by emailing Plastiq at service@plastiq.com.

You will remain liable for all obligations related to your Account even after your Account is closed, including any fees or charges already due to Plastiq. You may not close your Account to evade an investigation. Plastiq also reserves the right to close your Account at any time with or without notice to you.

Any Payments processed prior to Account closure will be completed by the Services, except those that may be cancelled following a Payment review, per Section 8.3. All Scheduled Payments whose Processing Dates have not yet passed at the time of Account closure will be considered cancelled.

Plastiq may retain data associated to your usage of the Services in accordance with applicable regulatory and compliance obligations.

6 Payment Methods

6.1 Usage

Payment Methods are used to submit Payments via the Services, and may be saved to your Account for easy reference and submission. Plastiq supports a limited set of Payment Method types, which are enumerated in Section 6.2 below.

All Payment Method usage associated to Payments submitted via the Services are subject to existing terms for your Payment Method, including any relevant credit or transactional limits, credit and interest terms, and rewards programs. Where applicable, Plastiq retains all rights and authority for the treatment of your Payment Methods via the Services, which may supercede your Payment Method program terms. For example, Plastiq may impose a transactional limit on your Payment Method for Payments via the Services, which may be a lower value than the amount allowed by your program.

Promotions and programs via the Services may be applicable to defined subsets of Payment Methods. Such eligibility may be subject to change at any time, and is determined at the sole authority of Plastiq, except where obligated by regulation.

6.2 Supported Payment Methods

Subject to the restrictions above in Section 4, cards issued on the following payment networks may be used as Payment Methods via the Services:

  • MasterCard®
  • American Express®
  • Visa®
  • Discover®
  • JCB®
  • Diners Club®

Upon addition to your Account, your cards may be authorized to confirm their validity. A temporary, small authorization charge may appear on your card statement.

7 Payments

7.1 Payment Submission

Plastiq Payments can be submitted for immediate or future processing via the Services. Payment submission requires at least the following to be specified:

  • a Recipient;
  • a Payment Method;
  • a Payment amount;
  • any applicable Payment data (see Section 8.1.1)

Any or all of the above fields may be pre-filled for you, particularly if you were referred to the Plastiq Services for your Payment (per Section 3.3).

Please note that terms governing Cross-Border Payments (Section 10) may apply if your Payment’s funds will be crossing international borders.

7.1.1 Payment Data

Plastiq may require additional information from you at time of Payment submission, which is primarily used to help Recipients acknowledge and account for your incoming Payments. Recipients that partner with Plastiq may customize the information they collect from you via Plastiq.

The data fields requested are subject to change at any time and may include but are not limited to your full name, home address, phone number, and invoice number. As further outlined in our Privacy Policy, you agree to allow Plastiq to share this information with your Payment Recipient.

7.1.2 Scheduled Payments

Payments may be submitted with a Processing Date in the future ("Scheduled Payments"), but must be assigned to a Payment Method at time of submission which remains valid through the Payment Processing Date. The details of a Scheduled Payment, including associated Fees and Promotions, are locked in at time of submission, except where noted otherwise.

Prior to its Processing Date, a Scheduled Payment may be cancelled or edited via the Services. Editing a Scheduled Payment is functionally treated as the deletion of the original Scheduled Payment and creation of a new Scheduled Payment, and accordingly may result in alterations not specifically requested including but not limited to recalculation of associated fees (per Section 9.1), qualification for current Promotions or disqualification for expired Promotions (per Section 11.1), and reiteration of any applicable Payment review processes (per Section 8.3).

7.1.3 Satisfactory Goods or Services

By submitting your Payment for processing by the Services, you agree that the goods or services provided by your Recipient in exchange for the Principal have already been rendered to your satisfaction. You hereby forfeit any future claims regarding insufficient or unexpected quality or untimely delivery of the goods and services provided, including those Services rendered by Plastiq in exchange for your payment of Fees.

7.1.4 Payment Processing

Payments submitted for immediate processing will require successful Payment Method authorization at time of submission, while Payments marked for future processing will require Payment Method authorization on the Processing Date indicated for the Payment. If a Payment Method fails to authorize, Plastiq will be unable to continue to process your Payment, and will notify you via the Services.

The failure of any portions of the Payment process, which many include but are not limited to additional Fee authorizations, third-party service calls, and fraud analyses will result in a full rollback of any completed portions of the submission. Occasionally, this may require the void of previously succeeded Payment Method authorizations. Depending on your Payment Method, your billing statement may show temporary authorizations from Plastiq, which should disappear without any action within a couple days to a few weeks. You agree to absolve Plastiq of liability for any of the consequences which may arise from execution of a Payment rollback, including pending authorizations which may temporarily reduce your available credit line.

7.1.5 Payment Delivery

A Payment’s fund disbursement channel and expected delivery timeframe will be presented to you upon review, prior to submission. If Plastiq identifies an opportunity to improve upon the delivery timeline or expected success of a Payment, Plastiq may modify the fund disbursement channel post your submission. The expected delivery timeframe is a projected estimate based on Plastiq’s historical performance for a given disbursement channel, and is subject to change. All remedies for failure to deliver a payment within the quoted timeframe will be subject to Plastiq’s Payment Guarantee, outlined in Section 8.4.

7.2 Recipient Payment Terms

By submitting a Payment via the Plastiq Services, you agree to remain bound by all applicable terms and conditions of the Recipients to whom you submit Payments. You further acknowledge that your use of Plastiq Services does not alter or affect any Recipient payment terms including but not limited to deadlines, payment plans, late fees, and refunds. Any obligations arising from your relationships with Recipients may not be assigned to Plastiq.

7.3 Payment Review

At any time post submission, your Payment may be subject to review, which serves to better understand the nature of and reason for your Payment. During this review process and for any reason, Plastiq may place a temporary hold on the delivery of your Payment, and may request more information from you including but not limited to verification of your identity, an associated bill or invoice, or other evidence of your payment terms with the Recipient.

Communications from our Account Services team may be initiated via email or phone call using the contact details you provided for your Account. You acknowledge that Plastiq’s ability to efficiently and effectively review your Payment is reliant upon your cooperation, and you absolve Plastiq from any negative impacts to the delivery of your payment arising from delayed, incomplete, or insufficient responses to our inquiries.

At its sole discretion, Plastiq reserves the right to cancel any Payment. In such cases and as permitted by applicable law, your funds will be returned to you via the original Payment Method, or if necessary via other means. You relieve Plastiq of any liability you may incur, including but not limited to late fees, penalties, or interest due to Payments that are held, denied, or reversed.

7.4 Delivery Guarantee

Plastiq guarantees delivery of your Payments to Recipients within the timeframes projected at time of Payment review, prior to submission. If this guarantee is not fulfilled, you are eligible for reimbursement of any late fees associated to the Payment which may have accrued between the quoted delivery timeframe and actual delivery.

To obtain your reimbursement, please email guarantee@plastiq.com with the following:

  • Plastiq Payment ID
  • Proof of the due date (e.g., bill or invoice)
  • Evidence of late fees charged or owed

Reimbursements must be claimed within thirty (30) calendar days of the Payment Processing Date, and will be issued within thirty (30) calendars days of reimbursement confirmation from Plastiq. You agree that any qualified reimbursements not claimed within this timeframe will be forfeited.

This delivery guarantee will not apply for all Payments which be affected by any of the following:

  • Service provider downtime or delays, including but not limited to the United States Postal Service (USPS), Canada Post, and banking partners.
  • Recipient rejection or return of the Payment.
  • Recipient mishandling or delayed posting of a Payment.
  • Delivery failure due to incorrect or incomplete information provided by you.
  • Cancellation prior to payment delivery.

7.5 Payment Refunds

In certain situations following a Payment submission, you may request a refund by contacting Plastiq at refunds@plastiq.com. The availability of refunds and processes for their execution are dependent on the disbursement channels by which Payments are delivered to Recipients. Plastiq is unable to issue partial refunds. More specific information is provided below in Sections 8.5.1 and 8.5.2.

Plastiq is also unable to initiate refunds in cases where a Recipient has already received your Payment. If this is the case, you should contact your Recipient directly to request a refund, pursuant to their payment terms (applied per Section 8.2).

In the event of a Principal refund, Plastiq will also refund a proportional amount of the Plastiq Fee, less any unrecoverable costs Plastiq may incur. Principal refunds effected via clawback or chargeback mechanisms, however, will not result in a refund of the Plastiq Fee, in whole or in part.

7.5.1 Refunds for Electronic Payments

Plastiq may refund electronic Payments, including those delivered via Electronic Fund Transfer (EFT), Automated Clearing House (ACH), and bill payment network providers, prior to their disbursement.

7.5.2 Refunds for Check (Cheque) Payments

Plastiq may refund Payments disbursed via check (cheque) prior to their deposit by your Recipient. If Plastiq has already sent a check (cheque), we may place a "stop payment" request to ensure it cannot be deposited. In such cases, we suggest that you contact your Recipient to let it know not to deposit the stopped check (cheque).

If your Recipient attempts to deposit a stopped check (cheque), it may be charged a fee from its bank for the exception, which it may attempt to assign to you. You accept the responsibility of notifying your Recipient to not deposit your check (cheque), and you agree not to hold Plastiq liable for any costs you may incur from your Recipient in such a case.

7.6 Payment Issues and Inquiries

If you encounter any Payment-related issues or have a question about your Payments, please contact service@plastiq.com. Including any relevant Payment IDs in your messages will help our team provide you better, quicker service. Payment IDs are presented on your Payment confirmation page and email notifications.

If you message us from an email that does not match the one associated to your Account with Plastiq, or via an alternate channel like social media or SMS, we may require further verification of your identity prior to providing any information or making any changes.

For Texas users who have contacted Plastiq and still have an unresolved complaint regarding the company’s money transmission or currency exchange activity, please direct your complaint to: Texas Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705, 1-877-276-5554 (toll free), www.dob.texas.gov

If a Payment issue can be traced to some deficiency or defect in the Services, Plastiq will use commercially reasonable efforts to fulfill its responsibilities as represented in this Agreement. You agree that Plastiq is not liable for any costs or difficulty arising from actions we may take in the process of investigating or rectifying a Payment issue.

You are responsible for confirming the correctness and completeness of your Payment at time of submission. If a Payment issue can be traced to any incorrect or incomplete information you confirmed at time of Payment review, even for information which may have been pre-filled by Plastiq or a third party, you agree to hold responsibility for any resulting consequences, which may include but not be limited to an unintended Recipient accepting and retaining your Payment, an issue in a Recipient accounting for your Payment, or an inability to complete your Payment.

At this time, Plastiq treats Payments as atomic operations, which means that once a Payment is processed, it must be either completed or cancelled. One consequence of this policy is that Plastiq cannot support re-issuing checks (cheques) or resending electronic disbursements for Payments. If your recipient has misplaced, disposed of, or not received your Payment, we can cancel it and refund your Payment Method, and you can either re-submit via Plastiq or via another channel.

8 Plastiq Fees

8.1 Service Fees

You understand and agree that Plastiq may charge Fees for access to and use of the Plastiq Services. Fees will be charged to your Payment Method, either in a separate transaction from any Principal payments or in a single transaction including both amounts, depending on applicable rules.

Recipients or other third parties may choose to subsidize a portion of your Plastiq Fees. If a Subsidy is applicable, it will be presented to you during review of your Payment, prior to submission.

Fees for immediately processed Payments are charged in real-time upon submission. Fees for Scheduled Payments are locked in at time of submission and will be charged on the Payment’s Processing Date. If a Scheduled Payment is edited prior to its Processing Date, the applicable Fee will be recalculated based on the presently defined rules.

8.2 Fee Updates

Fees may vary, depending upon factors including but not limited to the Payment’s Recipient, the Payment Method, any applicable Promotions, and other variables both which may or may not be controlled by Plastiq. Fees are subject to change at any time without prior notice and are calculated in real time and presented to you during review of your Payment, prior to submission or edit.

8.3 Fee-Free Dollars

Fee-free dollars (FFDs) are dollars that can be sent through Plastiq without any fees. They can be earned or granted in association with various actions, events, or Promotions including but not limited to our referral program (per Section 11.2) or other engagement.

If a Payment's Principal amount is less than the total FFDs available on you Account, no Fees will apply to the Payment and any leftover credit will apply to the next Payment. If a Payment’s Principal amount is greater than the total FFDs available on your Account, Fees will only be charged on the Principal amount in excess of the amount of FFDs available.

The FFD balance of an account will reset to zero 90 days after the last time they were used or earned.

9 Cross-Border Payments

9.1 Introduction and Implications

A Cross-Border Payment ("CBP") is defined as a Payment for which Recipient funds are delivered in a different country from which they originate (e.g., a credit card issued in the United States paying a Recipient in Canada). CBPs may be subject to higher fees, further reviews, and longer delivery timelines.

Depending on your Payment Method, currency exchange may occur in conjunction with a CBP and may be exchanged at a rate which is not disclosed to you via the Services at time of submission. Modifications to any applicable credit programs, alterations of fee structures and amounts levied by Plastiq or other third parties, and impacts to Payment delivery channels and timelines may also apply.

9.2 Exchange Rate Fluctuations

Principals and Fees associated with Cross-Border Payments may be subject to exchange rate fluctuations. You acknowledge and accept that credits to and debits from Payment Methods in association with Cross-Border Payments may be executed in unexpected and varying amounts as converted to and from a Recipient’s local currency.

For example, a difference in exchange rate between the Submission Date and Processing Date of a Scheduled Payment may result in your Payment Method being debited for a different amount than that presented at time of submission. Additionally, Payment refunds associated with Cross-Border Payments will be subject to current exchange rates, which may differ from the exchange rate observed at time of Payment processing. You agree that Plastiq is not liable for any consequences arising from exchange rate fluctuations. If exchange rate fluctuations associated to actions on your Payments materially impact Plastiq’s ability to provide its services, Plastiq may seek remedies accordingly.

9.3 Multi-Currency Card Processing

Plastiq may offer the ability to pay a Recipient in a different currency than a card Payment Method is originally issued ("Multi-Currency Processing" or "MCP").

MCP Payments submitted in the local currency of a card (rather than the Recipient’s currency) will NOT be charged an additional Plastiq Fee. The foreign exchange rate applied for MCP Payments will be calculated on the Payment Processing Date, and where possible will be presented on the Payment review page, prior to submission.

The MCP program is currently available for the following currencies:

  • Chinese Yuan (CNY)

Additional terms for each of the above currencies may be outlined in the following sections, and supercede other terms found in this Agreement, where applicable.

9.3.1 Chinese Yuan (CNY)

Credit cards, debit cards and pre-paid cards issued in China on the MasterCard® network may submit Plastiq Payments in Chinese Yuan (CNY). Cards issued on networks other than MasterCard® are not eligible for the MCP program.

Users who submit an MCP Payment in CNY agree to be bound by the "Notice of the State Administration of Foreign Exchange on Standardizing Administration of Foreign-currency Bank Cards," including but not limited to Items (4) through (7) in Section 3 – Issuance and Use of Domestic Cards. Those terms are included below, for convenience:

(4) A Domestic Card may be used for overseas consumption payment under current account, but not for other transactions. The detailed requirements are set forth in Items (5) to (10) in this Section.

(5) The card issuing financial institutions shall properly set up their systems in accordance with the merchant category codes (MCCs) listed in the Merchant Category Codes for Overseas Use of Domestic Bank Cards (See Annex 1), and strictly control offline transactions.

(6) Merchant category codes listed in Annex 1 fall within three categories: forbidden, amount restricted and unrestricted. "Forbidden" means card holders are not allowed to conduct transactions under such codes. "Amount restricted" means card holders are allowed to conduct transactions under other codes than 6010 and 6011 with each transaction amount not exceeding the equivalent of USD 5,000. "Unrestricted" means card holders are allowed to conduct transactions without amount limit.

(7) The card issuing financial institutions shall set up combined limit on overseas withdrawal under codes of 6010 (withdrawal at counter) and 6011 (withdrawal from an automated teller machine), which is not more than the equivalent of USD 1,000 per day, USD 5,000 per month and USD 10,000 per six months.

Plastiq-supported MCCs which may be subject to SAFE limitations include but are not limited to:

  • 7997 – Clubs (Amount Restricted)

10 Promotions

10.1 Promotion Terms

From time to time, Plastiq may offer Promotions which affect aspects of payment scheduling and submission which may include, but are not limited to the following:

  • Altered fee structure, schedule, or calculation
  • Altered payment delivery timelines, funding methods, or notifications
  • Altered card processing procedures, arrangements, or partnerships
  • Altered presentation of the Plastiq user interface

Timeframes and terms of Promotions are subject to change at any time, and apply only at the time of payment submission or scheduling. Any Promotions applied based on future user engagement with Plastiq (e.g., a reduced rate for scheduling future payments) may be rescinded in the event that the user does not adhere to the terms of said future user engagement. In such a case, to the extent any portions of a rescinded Promotion have already been applied, Plastiq reserves the right to seek appropriate compensation from the user. Additionally, if a fee amount must be calculated to determine appropriate compensation, Plastiq will apply its current fee structure sans any discounts or promotions.

10.2 Referral Program

Plastiq offers its Users a referral program to encourage sharing Plastiq with their contacts. For each contact who registers with Plastiq via the program and completes payments totaling at least $500, the referrer will earn 1000 Fee-free Dollars and the newly referred user will also earn 500 Fee-free Dollars. Application of FFD credits may take up to one business day to appear in the appropriate User Accounts, excluding any delays caused by payment review or processing.

In order for FFD credits to be applied, any referred users must be an individual or business whose identity has never before been associated to a Plastiq User Account. Plastiq reserves the right to withhold or reverse FFD crediting, or to take further action including but not limited to closing your Plastiq Account if it suspects improper usage of the referral program.

10.2.1 Tracking via Website

Users can obtain their unique referral links via the Plastiq Website by navigating to "Account Settings > Rewards & Referrals" once signed into their Accounts. Contacts who follow these referral links and register new Accounts with Plastiq in the same Website session will be tracked as referred Users, and their payment activity may trigger referral program payouts.

11 Communications

11.1 Consent to Electronic Disclosures

Because the Services are provided electronically, you must consent to Plastiq providing important information electronically. Plastiq will issue the following information and disclosures electronically on this Website or via electronic mail ("email"):

  1. this Agreement
  2. Any future changes to the Agreement
  3. The Plastiq Privacy Policy
  4. Transaction history information, and
  5. Any other notices, legal communications, or disclosures.

To receive this information electronically, and access and retain any disclosures received, you will need a computer with Internet access, and the ability to receive and read email.

By proceeding with use of the Services:

  1. You agree to receive information and disclosures electronically on this website and via email, and confirm that you will download or print any disclosures for your records;
  2. You acknowledge that you can access information that is provided electronically on this website and via email;
  3. You are authorizing the delivery of disclosures regarding the Services electronically on this website and via email and providing your consent to receive electronic communications pursuant to the Electronic Signatures in Global and National Commerce Act and intend that this statute apply to the fullest extent possible;
  4. You agree to receive email, SMS, or push notifications regarding the Services.
  5. You agree to be bound by our Privacy Policy, located at plastiq.com/privacy.

You can withdraw your consent to receive most electronic communications from Plastiq by emailing us at service@plastiq.com or following the unsubscribe procedure contained in any electronic communication you receive from us. However, if you withdraw your consent, you may no longer be eligible to use certain portions of the Services. Withdrawing your consent will not affect the completion of pending Payments or the validity of completed Payments.

Plastiq reserves the right to send all members that have provided an email address updates that are transactional in nature including, but not limited to payment receipts, password reset notifications and other account-related information in accordance with applicable government regulations.

If you wish to update your contact information at any time, log in to Plastiq and click on "Account Settings".

11.2 Opt-In for Communications

By providing your email address and phone number to Plastiq you are granting Plastiq implied consent to send business-related communications including marketing and product updates. You may opt out of receiving marketing messages at any time via the opt out link provided in each message.

Per the Canadian Anti-Spam Law, the affirmative use of a check box by members located in Canada is not interpreted by the Company as explicit consent to receive messages beyond the two-year period permitted with implied consent.

11.3 Contacting Plastiq

Unless otherwise stated in this User Agreement, notices, inquiries, and requests to Plastiq should be emailed to service@plastiq.com. For your convenience, the Services may also make available communication channels for live chat and support tickets.

Please note that email communications sent to Plastiq for Account-related matters (e.g., late fee reimbursements, refund requests, etc.) must come from the email address listed in your Account. Account-related communications initiated via other channels may require identify verification in order to obtain information or change settings.

In connection with your use of the Web Site and/or Services, you may elect to submit feedback, suggestions and/or other comments regarding the Web Site and/or the Services (collectively, the "Feedback"). Plastiq may, in its sole discretion, decide to incorporate some or all of this Feedback into the Web Site and/or the Services. You hereby grant Plastiq a worldwide, perpetual, nonexclusive, sublicensable, royalty-free license to use, reproduce, distribute, transmit, disclose, display, modify and create derivative works of all such Feedback. You further represent and warrant that you have all rights necessary to provide Plastiq the Feedback and that the use of the feedback by Plastiq will not violate, infringe otherwise misappropriate any third party rights.

12 Limitation of Liability

IN NO EVENT SHALL PLASTIQ, OUR SUPPLIERS AND OUR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS (COLLECTIVELY, THE "PLASTIQ PARTIES") BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR WEB SITE, OUR SERVICE, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE). THE TOTAL LIABILITY OF THE PLASTIQ PARTIES (IN AGGREGATE) TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES ACTUALLY INCURRED IN THE SIX (6) MONTHS PRIOR TO THE DATE UPON WHICH THE APPLICABLE CAUSE OF ACTION AROSE. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages so the above limitation or exclusion may not apply to you. In such case, the liability of the Plastiq Parties shall be limited to the greatest extent permitted under applicable law.

13 Disclaimer of Warranties

THE PLASTIQ PARTIES PROVIDE OUR SERVICES "AS IS" AND WITHOUT ANY REPRESENTATION, WARRANTY OR CONDITION OF ANY KIND, WHETHER EXPRESS, IMPLIED OR STATUTORY. WE SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, MERCHANTABLE QUALITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. THE PLASTIQ PARTIES ARE NOT RESPONSIBLE FOR YOUR OR PLASTIQ’S FAILURE TO PERFORM OBLIGATIONS UNDER THE AGREEMENT AND DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY YOU, PLASTIQ, OR ANY THIRD PARTY.

Plastiq does not have any control over the products or services that are paid for using the Services and Plastiq cannot ensure that a Recipient you are dealing with will actually complete the transaction or is authorized to do so. Plastiq does not guarantee continuous, uninterrupted or secure access to any part of our Service, and operation of our site may be interfered with by numerous factors outside of our control. Plastiq will make reasonable efforts to ensure that requests for electronic debits and credits involving credit cards are processed in a timely manner but Plastiq makes no representations or warranties regarding the amount of time needed to complete processing because the Services are dependent upon many factors outside of our control, such as delays in the banking system. Some jurisdictions do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you. This paragraph gives you specific legal rights and you may also have other legal rights that vary depending on the jurisdiction in which you are resident.

14 General

14.1 Complete Agreement

This Agreement together with any other Plastiq documents, policies and/or agreements referenced herein sets forth the entire understanding between you and Plastiq with respect to the Services. The following sections of this Agreement and all other terms which by their nature should survive, will survive the termination of this Agreement: Sections 1 (Definitions), 13 (Limitation of Liability), 14 (Disclaimer of Warranties), and 15 (General). If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced.

14.2 Intellectual Property

"plastiq.com", "Plastiq", and all logos related to Plastiq, are either trademarks or registered trademarks of Plastiq or its licensors. You may not copy, imitate or use them without Plastiq's prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of Plastiq. You may not copy, imitate, or use them without our prior written consent. All right, title and interest in and to the Plastiq website, any content thereon, the Services, the technology related to the Services, and any and all technology and any content created or derived from any of the foregoing, is the exclusive property of Plastiq and its licensors.

14.3 Arbitration

For any Claim (excluding Claims for injunctive or other equitable relief), the party requesting relief may elect to resolve the Dispute in a cost-effective manner through binding non-appearance-based arbitration. If a party elects arbitration, that party will initiate such arbitration through an established alternative dispute resolution (ADR) provider mutually agreed upon by the parties. The ADR provider and the parties must comply with the following rules: a) the arbitration shall be conducted by telephone, online and/or be solely based on written submissions, the specific manner shall be chosen by the party initiating the arbitration; b) the arbitration shall not involve any personal appearance by the parties or witnesses unless otherwise mutually agreed by the parties; and c) any judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction.

14.4 Governing Law

With respect to Services rendered in the United States, this Agreement will be governed by, and construed in accordance with, the laws of the Commonwealth of Massachusetts. With respect to Services rendered in Canada, this Agreement will be governed by, and construed in accordance with, the laws of the Province of Ontario. Each party hereby waives any right to jury trial in connection with any Dispute in any way arising out of or related to this Agreement.

14.5 Class Action Waiver

Any proceedings to resolve or litigate any dispute in any forum will be conducted solely on an individual basis and not in a class or representative action. Neither party to this Agreement will seek to have any dispute heard as a class action, private attorney general action, or in any other proceeding in which either party acts or proposes to act in a representative capacity. No arbitration or proceeding will be combined with another without the prior written consent of all parties to all affected arbitrations or proceedings.

14.6 Improperly Filed Litigation

All Claims you bring against Plastiq or in respect of the Services must be resolved in accordance with this Agreement. All Claims filed or brought contrary to this Agreement shall be considered improperly filed a breach of this Agreement. Should you file a Claim contrary to this Agreement, Plastiq may recover attorney fees and costs (including in-house attorneys and paralegals), provided that Plastiq has notified you in writing of the improperly filed Claim, and you have failed to promptly withdraw the Claim.

14.7 Release of Plastiq

If you have a dispute with one or more Recipients or other third parties, you release Plastiq (and our officers, directors, agents, joint ventures and employees) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.

14.8 Force Majeure

Plastiq shall not be liable for any issues or delayed performance caused by circumstances beyond Plastiq's reasonable control, including without limitation, acts of God, acts of government, flood, fire, earthquakes, civil unrest, acts of terror, strikes or other labor problems, service provider failures or delays.

14.9 Assignment

You may not transfer or assign any rights or obligations you have under this Agreement without Plastiq's prior written consent. Plastiq reserves the right to transfer or assign this Agreement or any right or obligation under this Agreement at any time.

14.10 Severability

If any provision of this Agreement is held to be contrary to law, such provision shall be changed and interpreted so as to best accomplish the objectives of the original provision to the fullest extent allowed by law and the remaining provisions of this Agreement shall remain in full force and effect.

14.11 No Waiver

If Plastiq fails or delays in exercising any right, power or remedy or to take action against any breaches of this Agreement, it does not mean that it waives its right at a later time to enforce the same.

14.12 Indemnification

You agree to defend, indemnify and hold the Plastiq Parties harmless from any Claim or demand (including attorneys’ fees) made or incurred by any third party arising out of or relating to (a) your breach of any provision of this Agreement; (b) your use of the Plastiq Services; (c) your obligations to pay fees or fines to Plastiq or any third parties; (d) negligence or willful misconduct of your affiliates, employees, contractors, or agents; and (e) all third-party indemnity obligations Plastiq incurs as a direct or indirect result of your acts or omissions (including indemnification of any payment card network, card issuer, or intermediary bank).

14.13 Language

If you decide to use our Services, you expressly agree that the agreement between you and us and any associated documents will be in the English language.

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