Merchant Agreement Policy
MiarichPay – Comprehensive Merchant Services Agreement
Effective Date: June 20, 2025
1. Agreement Overview
This Merchant Agreement Policy governs the relationship between MiarichPay and merchants utilizing our payment processing services. By signing up for our merchant services, you agree to comply with all terms, conditions, and policies outlined in this agreement.
Key Agreement Points: This agreement establishes the legal framework for payment processing services, defines responsibilities of both parties, and ensures compliance with industry standards and regulations.
2. Merchant Eligibility Requirements
To qualify for MiarichPay merchant services, businesses must meet specific eligibility criteria:
Business Registration
- Valid business license
- Tax identification number
- Business bank account
- Registered business address
Financial Standing
- Good credit history
- Financial statements
- No recent bankruptcies
- Stable business operations
Compliance Requirements
- No prohibited business activities
- PCI DSS compliance
- Industry-specific licenses
- Risk assessment approval
Documentation
- Government-issued ID
- Business incorporation papers
- Financial records
- Processing history (if applicable)
3. Account Setup and Verification
Application Process
The merchant application process includes comprehensive verification to ensure compliance and security:
- Complete online application with business details
- Submit required documentation and financial records
- Undergo identity and business verification
- Risk assessment and underwriting review
- Account approval and setup (typically 24-48 hours)
Verification Requirements
All merchants must complete identity verification (KYC) and business verification processes. This includes verification of business ownership, financial stability, and compliance with applicable regulations.
Important: Providing false or misleading information during the application process may result in immediate account termination and potential legal action.
4. Prohibited Business Activities
MiarichPay strictly prohibits the following business activities and transactions:
Illegal Activities
- Money laundering or terrorist financing
- Sale of illegal drugs or controlled substances
- Counterfeit goods or intellectual property violations
- Fraud or identity theft services
- Unlicensed financial services
High-Risk Activities (Require Special Approval)
- Adult entertainment and dating services
- Online gambling and gaming
- Cryptocurrency exchanges
- Multi-level marketing programs
- Debt collection services
- Tobacco and e-cigarette sales
Restricted Business Types
- Firearms and ammunition sales
- Pharmaceutical sales without proper licensing
- Psychic and fortune telling services
- Escort services
- Check cashing and payday loans
Violation Consequences: Engaging in prohibited activities will result in immediate account suspension, fund holds, and potential termination of services.
5. Fee Structure and Pricing
Our transparent fee structure is designed to provide competitive rates while maintaining service quality:
| Service Type | Standard Rate | High-Volume Rate | Additional Notes |
|---|---|---|---|
| Credit Card Processing | 2.9% + $0.30 | 2.5% + $0.25 | Per transaction |
| Debit Card Processing | 1.9% + $0.30 | 1.5% + $0.25 | PIN and signature |
| ACH Processing | 0.8% + $0.25 | 0.5% + $0.20 | 3-5 business days |
| International Transactions | 3.9% + $0.30 | 3.5% + $0.30 | Currency conversion included |
| Chargeback Fee | $15.00 | $10.00 | Per chargeback incident |
| Monthly Account Fee | $25.00 | Waived | For active accounts |
Volume-Based Pricing
High-volume merchants processing over $50,000 monthly qualify for reduced rates. Custom pricing is available for enterprise-level merchants with special requirements.
No Hidden Fees: All fees are clearly disclosed upfront. We provide detailed monthly statements showing all charges and transactions.
6. Payment Processing Terms
Transaction Authorization
All transactions must be properly authorized before processing. Merchants are responsible for obtaining valid authorization for each transaction and maintaining proper transaction records.
Settlement and Funding
- Standard settlement: Next business day
- Same-day settlement: Available for qualified merchants
- Weekend and holiday processing available
- Automatic deposits to designated bank account
Transaction Limits
Transaction limits are established based on merchant risk profile and processing history:
- New merchants: $5,000 per transaction, $50,000 monthly
- Established merchants: $25,000 per transaction, $500,000 monthly
- High-volume merchants: Custom limits available
- Limits can be increased with approval
7. Risk Management and Security
Fraud Prevention
MiarichPay employs advanced fraud detection systems to protect merchants and customers:
- Real-time transaction monitoring
- Machine learning fraud detection
- Velocity checking and pattern analysis
- Address and CVV verification
- 3D Secure authentication
Reserve Requirements
Based on risk assessment, we may require merchants to maintain a reserve fund:
- Rolling reserve: 5-15% of monthly volume
- Fixed reserve: Set dollar amount
- Reserve terms based on business type and history
- Reserves released according to agreed schedule
Security Requirements: Merchants must maintain PCI DSS compliance and follow security best practices. Failure to comply may result in additional fees or account suspension.
8. Chargeback and Dispute Management
Chargeback Process
When a chargeback occurs, MiarichPay provides comprehensive dispute management services:
- Immediate notification of chargeback initiation
- Detailed chargeback reason and documentation
- Assistance with representment process
- Evidence collection and submission
- Win/loss tracking and reporting
Merchant Responsibilities
Merchants must actively participate in the chargeback process by:
- Responding to chargeback notifications promptly
- Providing compelling evidence for disputes
- Maintaining detailed transaction records
- Following best practices to prevent chargebacks
Excessive Chargeback Program
Merchants with chargeback ratios exceeding 1% may be enrolled in our monitoring program, which includes additional oversight and potential account restrictions.
9. Compliance Obligations
Regulatory Compliance
Merchants must comply with all applicable laws and regulations, including:
- Payment Card Industry Data Security Standard (PCI DSS)
- Anti-Money Laundering (AML) requirements
- Consumer protection laws
- Industry-specific regulations
- International compliance for cross-border transactions
Reporting Requirements
Merchants may be required to provide additional documentation or reports for compliance purposes, including financial statements, transaction details, and business operations updates.
Compliance Support: Our compliance team provides ongoing support to help merchants meet regulatory requirements and maintain good standing.
10. Account Termination and Suspension
Termination Rights
Either party may terminate this agreement under the following conditions:
- 30-day written notice for convenience
- Immediate termination for material breach
- Immediate termination for prohibited activities
- Regulatory requirements or compliance violations
Account Suspension
We may temporarily suspend merchant accounts for:
- Suspected fraudulent activity
- Excessive chargebacks or disputes
- Compliance violations
- Risk management concerns
Final Settlement
Upon termination, final settlement will occur according to our standard procedures, typically within 30 days after all pending transactions are resolved and any reserve requirements are satisfied.
11. Data Protection and Privacy
MiarichPay is committed to protecting merchant and customer data in accordance with applicable privacy laws and industry standards. We implement comprehensive data security measures and provide regular security updates and training.
Merchants are responsible for ensuring their own compliance with data protection regulations, including GDPR, CCPA, and other applicable privacy laws.
12. Support and Service Level Agreements
Customer Support
- 24/7 technical support for critical issues
- Business hours support: Monday-Friday, 9:00 AM – 6:00 PM EST
- Dedicated account managers for high-volume merchants
- Online merchant portal with real-time reporting
Service Level Commitments
- 99.9% uptime guarantee
- Transaction authorization within 3 seconds
- Support response within 2 hours during business hours
- Monthly service reports and analytics
13. Contact Information
For questions about this Merchant Agreement Policy or merchant services, please contact us:
MiarichPay Merchant Services
Email: [email protected]
Phone: +1 (803) 760-7442
Address: 701 Cleveland Street
Greenville, SC 29601, United States
Business Hours: Monday – Friday, 9:00 AM – 6:00 PM EST