Terms of Service
Effective Date: January, 1st 2025
Welcome to Phase 3 Payments (“we,” “us,” or “our”). These Terms of Service (“Terms”) govern your use of our website, products, and services (collectively, the “Services”). By using or accessing our Services, you agree to be bound by these Terms. If you do not agree with any part of these Terms, you may not use our Services.
1. Scope of Services
1.1 Payment Processing and Related Services
Phase 3 Payments offers payment processing, point-of-sale solutions, e-commerce integrations, and related features. The specific services you receive depend on the agreement or application you complete.
1.2 Modifications
We may update or modify the Services, including adding or removing features, at any time. We will endeavor to notify you of significant changes through reasonable means (e.g., an email or notice on our website).
2. Eligibility and Registration
2.1 Merchant Eligibility
To use our payment processing services, you must apply and be approved through our underwriting partners. You agree to provide accurate, complete information during the application process.
2.2 Account Security
You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account. Notify us immediately of any unauthorized access or suspected security breaches.
3. Fees and Payment Terms
3.1 Service Fees
The fees, rates, and charges for our Services are outlined in your merchant agreement or pricing schedule. We will not charge fees beyond those specified without providing prior notice, except where required by law or card network rules.
3.2 Payment of Fees
Fees will be deducted automatically from your settlement deposits or charged to your designated bank account as detailed in your agreement. You are responsible for any penalties, fines, or charges imposed by card networks or banking partners due to your actions or inactions.
3.3 Fee Changes
We reserve the right to modify fees and rates. We will provide you with reasonable notice before changes become effective, except where immediate changes are required by law or regulatory authorities.
4. Use of Our Services
4.1 Compliance with Laws and Rules
You agree to comply with all applicable laws, regulations, and card network requirements when using our Services. This includes, but is not limited to, PCI DSS standards and any local, state, or federal laws governing financial transactions.
4.2 Prohibited Activities
You may not use the Services to engage in or facilitate any illegal or fraudulent activity, including money laundering, terrorist financing, or the sale of prohibited goods and services.
4.3 Right to Suspend or Terminate
We may suspend or terminate your access to the Services if we believe you are in violation of these Terms, your merchant agreement, or any applicable law or regulation.
5. Data Privacy and Security
5.1 Privacy Policy
Your use of our Services is also subject to our Privacy Policy, which explains how we collect, use, and protect your personal information.
5.2 Data Security
You agree to maintain appropriate security measures to protect cardholder data and any other sensitive information. We may provide guidelines or tools to help you comply with industry standards, but ultimate responsibility lies with you.
5.3 Confidentiality
Any nonpublic information exchanged between you and Phase 3 Payments, including transaction or underwriting data, shall be kept confidential and used solely for the purpose of providing the Services.
6. Intellectual Property
6.1 Ownership
All content, trademarks, service marks, logos, and intellectual property on our website or provided through our Services remain the property of Phase 3 Payments or its licensors.
6.2 License
We grant you a limited, non-exclusive, non-transferable license to use our Services for their intended purpose. You may not modify, distribute, sublicense, or resell any part of the Services without our explicit permission.
7. Disclaimer of Warranties
The Services are provided on an “as is” and “as available” basis. To the maximum extent permitted by law, Phase 3 Payments disclaims all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not guarantee that the Services will be uninterrupted, error-free, or secure.
8. Limitation of Liability
To the extent permitted by law, Phase 3 Payments, its officers, directors, employees, and affiliates will not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, revenue, data, or use, arising out of your use of the Services. Our total liability under these Terms shall not exceed the amount of fees paid by you to Phase 3 Payments in the three (3) months prior to the event giving rise to the claim.
9. Indemnification
You agree to indemnify and hold harmless Phase 3 Payments, its affiliates, and their respective officers, directors, employees, and agents from any claims, damages, losses, or liabilities arising out of:
- Your breach of these Terms or any applicable agreement.
- Your violation of any law or regulation.
- Your misuse of the Services, including fraudulent or prohibited transactions.
10. Termination
10.1 Voluntary Termination
You may cancel your merchant account at any time by notifying us in writing, subject to any obligations in your merchant agreement.
10.2 Termination by Phase 3 Payments
We reserve the right to terminate or suspend your access to the Services for any reason, including breach of these Terms or involvement in prohibited activities.
10.3 Effect of Termination
Upon termination, you must immediately cease using the Services. Any outstanding fees or amounts owed to Phase 3 Payments become due and payable.
11. Dispute Resolution and Governing Law
11.1 Governing Law
These Terms and any disputes arising out of or related to them shall be governed by the laws of the State of South Dakota, without regard to conflict-of-law principles.
11.2 Arbitration
Any dispute, claim, or controversy arising out of these Terms or your use of the Services may, at Phase 3 Payments’ sole discretion, be resolved by binding arbitration in accordance with the rules of the American Arbitration Association. The seat of arbitration shall be Sioux Falls, SD, and the language of the arbitration shall be English.
12. Changes to These Terms
We reserve the right to update or modify these Terms at any time. When we do, we will revise the “Effective Date” at the top. Your continued use of the Services after such changes indicates your acceptance of the updated Terms.
13. Miscellaneous
- Entire Agreement: These Terms, along with any additional agreements (e.g., Merchant Agreement) and policies referenced herein, constitute the entire agreement between you and Phase 3 Payments regarding the Services.
- Severability: If any provision of these Terms is deemed invalid or unenforceable, the remaining provisions shall remain in full force and effect.
- No Waiver: Failure by us to enforce any provision of these Terms does not constitute a waiver of future enforcement of that or any other provision.
- Assignment: You may not assign or transfer your rights under these Terms without our prior written consent.
Contact Us
If you have any questions about these Terms, please reach out to us at:
Phase 3 Payments
2304 S Westlake Dr
Sioux Falls, SD 57106
Phone: 855-374-2733
Email: info@phase3payments.com