Terms and Conditions
Welcome to TruTransact! These Terms and Conditions govern your use of our services as a merchant or customer. Please read these Terms and Conditions carefully before using our website and services. By accessing or using TruTransact, you agree to be bound by these Terms and Conditions. If you do not agree to these Terms and Conditions, please do not use our services. TruTransact is primarily designed for merchants and businesses. It is not intended for personal use or for receiving money from friends and family.
1. Introduction
1.1 TruTransact provides a marketplace, enabling businesses to list products/services and accept various payment methods and manage transactions through our platform.
1.2 By signing up as a merchant or using our services, you acknowledge and agree to comply with the terms and conditions outlined in this document.
2. Account Creation and Verification
2.1 To use our services as a merchant, you must create an account with TruTransact. During the registration process, you will be required to provide your name, email address, and phone number.
2.2 For identity and business verification purposes, you must also provide valid and accurate information, including but not limited to your Tax Registration Number (T.R.N), ID card, passport, driver's license, and business certificate or license.
2.3 TruTransact reserves the right to request additional documentation or information for verification purposes at any time.
3. Payment Methods
3.1 TruTransact accepts a variety of payment methods, including PayPal, credit and debit cards, Cash App, Apple Pay, Bitcoin, and Litecoin.
3.2 Merchants must comply with the terms and conditions of each payment method they choose to offer through TruTransact.
4. Merchant Withdrawals
4.1 To facilitate merchant withdrawals, TruTransact may require bank account details or information regarding a digital wallet.
4.2 Merchants are responsible for providing accurate and up-to-date withdrawal information.
5. Chargebacks
5.1 In the event of a chargeback initiated by a customer's bank, TruTransact reserves the right to deduct the disputed amount from the merchant's balance.
5.2 A chargeback fee may also be applied to the merchant's account.
6. Refunds
6.1 Merchants have the option to offer refunds to their customers through the TruTransact dashboard.
6.2 Merchants are responsible for managing and processing refunds in accordance with their own policies and applicable laws.
7. Customer Information
7.1 As a merchant, you may collect customer information, including names, email addresses, phone numbers, billing addresses, shipping addresses, and IP addresses for transactional record-keeping purposes.
7.2 TruTransact requires merchants to handle customer information in compliance with applicable data protection and privacy laws.
8. Third-Party Services
8.1 TruTransact may integrate with third-party services, such as PayPal, Coinbase, Google Analytics, and Brevo/Sendinblue for email and SMS communications.
8.2 By using TruTransact, you agree to comply with the terms and conditions of these third-party services.
9. Intellectual Property
9.1 All content and materials on TruTransact, including but not limited to logos, trademarks, text, graphics, and software, are the intellectual property of TruTransact and its licensors.
9.2 You may not reproduce, distribute, modify, or create derivative works of the TruTransact platform or its content without prior written consent.
10. Limitation of Liability
10.1 TruTransact and its affiliates shall not be liable for any direct, indirect, incidental, special, or consequential damages resulting from your use of the TruTransact platform or services.
10.2 TruTransact does not guarantee the accuracy, reliability, or completeness of any information or content provided on its
platform.
11. Indemnification
11.1 You agree to indemnify and hold TruTransact and its affiliates harmless from any claims, liabilities, damages, losses, or expenses arising out of your use of the TruTransact platform or services.
12. Termination
12.1 TruTransact reserves the right to suspend or terminate your account at any time, without prior notice, if you violate these Terms and Conditions.
12.2 Upon termination, you must cease all use of the TruTransact platform and services.
13. Modifications
13.1 TruTransact may modify or update these Terms and Conditions from time to time without prior notice.
13.2 It is your responsibility to review these Terms and Conditions periodically for any changes.
14. Governing Law
14.1 These Terms and Conditions shall be governed by and construed in accordance with the laws of Kingston, Jamaica, without regard to its conflict of laws principles.
15. Contact Us
15.1 If you have any questions or concerns regarding these Terms and Conditions, please contact us at support@trutransact.com.
16. Withdrawals
16.1 For the purpose of risk mitigation and security, Trutransact reserves the right to place a hold on payments received from new accounts for a period of up to 5 business days. During this hold period, funds associated with transactions made by new accounts will not be immediately released to the designated recipient. This hold period allows us to conduct necessary reviews and verifications to ensure the legitimacy and security of the transactions and accounts involved. After the hold period expires, payments will be processed and released in accordance with our standard payment release policies.
17. Profile Information Changes and Verification:
At Trutransact, we prioritize the security and accuracy of user profile information to ensure a safe and reliable payment ecosystem. In the event that a user wishes to make changes to their profile information, such as contact details, business information, or payment preferences, the following verification process will apply:
17.1 Request for Changes: Users seeking to modify their profile information must initiate the change request through their account settings or designated platform features.
17.2 Verification Procedure: Upon receiving a profile information change request, Trutransact may require users to undergo a verification procedure. This procedure may include submitting relevant documentation or information to confirm the identity of the account holder or the legitimacy of the requested changes.
17.3 Review and Approval: Our team will carefully review the submitted verification materials. This review process is designed to safeguard against unauthorized changes and maintain the integrity of our platform.
17. 4 Communication: During the verification process, Trutransact may communicate with the user to request additional information or clarification if needed.
17.5 Processing Time: We strive to process verification requests in a timely manner. However, processing times may vary based on the nature and complexity of the changes being requested. Users are encouraged to plan ahead and submit change requests well in advance to avoid any disruptions to their account activities.
17.6 Confirmation: Once the verification process is successfully completed, users will receive confirmation of the approved changes to their profile information.
17.7 Please note that this verification process is implemented to enhance security and prevent unauthorized access to user accounts. Trutransact reserves the right to decline change requests or initiate additional verification steps if necessary.
18. Prohibited Use for Self-Payments and Cash-Outs:
Trutransact is designed to facilitate secure and efficient payment transactions between businesses and their customers. To maintain the integrity of our platform and prevent misuse, we have implemented a policy that prohibits users from using their own accounts to initiate payments to themselves or to engage in cash-out activities. Our platform is intended exclusively for the acceptance of payments from legitimate customers for goods and services provided by the user's business.
The following guidelines apply:
18.1 Prohibited Transactions: Users are not permitted to use their own Trutransact accounts to make payments to themselves or to transfer funds from their personal digital wallets. Any attempt to engage in such transactions is in violation of our terms of service.
18.2 Business Transactions Only: Trutransact accounts should only be used to accept payments from customers for products and services offered by the user's registered business. Transactions must be conducted in accordance with the relevant laws and regulations governing commercial transactions.
18.3 Security and Compliance: Our platform is committed to maintaining the security of user accounts and preventing fraudulent activities. Engaging in self-payments or cash-outs undermines the trust and security we strive to provide to our users and customers.
18.4 Monitoring and Enforcement: Trutransact employs monitoring mechanisms to detect and prevent unauthorized or inappropriate activities. Users found to be violating this policy will be subject to account suspension, termination, and potential legal actions.
18.5 By using Trutransact's services, users acknowledge and agree to abide by this policy. We encourage users to utilize our platform responsibly, ensuring that it is used solely for the purpose of conducting legitimate business transactions with their customers.
These Terms and Conditions were last updated on 26/08/2023.