We are a Bitcoin payment processor—we enable you to accept Bitcoins as payment for goods or services, and process Bitcoin payments that you receive from your customers. We are not a Bitcoin exchange, Bitcoin wallet, or a place to purchase Bitcoin. By using the Services, you authorize us to receive, hold and disburse funds on your behalf and to take any and all actions that we think are necessary or desirable to provide the Services and to comply with applicable law.
Use of the Services is subject to the laws and regulations of the United States regarding the prevention of terrorist financing and anti-money laundering. You agree and acknowledge that your use of the Services would and will comport with such laws and regulations, including, without limitation, the sanctions programs administered by the Office of Foreign Assets Control of the United States Department of the Treasury.
Daily Transaction Volume
You agree to adhere to the transaction processing limits applicable to your Tier. You agree that, if you exceed that limit, BitPay has the right to hold the over-the-limit funds until you have provided us with the additional documentation required to qualify for the next Tier, and until we have had the opportunity to review such documents. We will take additional measures if you exceed your limit. If you are a “Trusted” merchant, you may create an unlimited value of invoices (see Section 8.1), although you will only receive payments from us up to the specified limit. If you are not a “Trusted” merchant, you may not create a value of invoices that exceeds your specified limit.
You are solely responsible for obtaining any information required of those who purchase your goods or services. For instance, if applicable law prohibits a sale to persons under the age of 18 years, you must ensure that a purchaser is at least 18 years of age. Similarly, if applicable law requires that a purchaser’s identity be verified, you must verify the purchaser’s identity. We will not be responsible for your failure to adequately verify your purchasers’ identities or qualifications.
Representation and Warranties
Your use of the Services is subject to several important restrictions. Specifically, you represent and warrant to us that:
- Your use of the Services will not contravene any applicable international, federal, state or local law or regulation, including applicable tax laws and regulations, and that your use of the Services will not violate the laws of the United States of America.
- Your use of the Services will not relate to sales of (i) narcotics, research chemicals or any controlled substances, (ii) cash or cash equivalents, including derivatives, (iii) items that infringe or violate any copyright or trademark,(iv) ammunition, firearms, explosives, or weapons regulated under applicable law, or (v) any services which compete with BitPay.
- Your use of the Services will not relate to transactions that (i) show the personal information of third parties in violation of applicable law, (ii) support pyramid or Ponzi schemes, matrix programs or other “get rich quick” schemes,(iii) are associated with purchases of annuities or lottery contracts, lay-away systems,￼banking, off-shore banking, foreign exchange or transactions to finance investing or investment related products, or refinancing debts funded by a credit card,(iv) are associated with Money Service Business activities, as defined by the Financial Crimes Enforcement Network of the United States Department of the Treasury, or (v) provide credit repair or debt settlement services.
- Your use of the Services will not involve gambling or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, and sweepstakes, unless you have obtained our prior approval and you and your customers are located exclusively in jurisdictions where such activities are permitted by law.
- You have the right, power and ability to enter into and perform under these Terms.
Our Right to Reject
We reserve the right to decline to process a sale if we believe that it violates these Terms or would expose you, other merchants, purchasers, or other parties to harm. If we reasonably suspect that your BitPay account has been used for an illegal purpose, you authorize us to share information about you, your BitPay account, and your account activity with law enforcement.
We have implemented security measures designed to secure your information from accidental loss and from unauthorized access, use, alteration or disclosure. However, we cannot guarantee that unauthorized persons will never gain access to your information, and you acknowledge that you provide your information at your own risk, except as otherwise provided by applicable law.
How we Collect, Use and Share Information
In order to provide the Services, we may share information about you and your BitPay account with third parties, including but not limited to your bank and purchasers.
Our Ownership of the Services and the BitPay Website
You agree and acknowledge that we own all right, title and interest to and in the Services, the associated software, technology tools and content, the BitPay website, the content displayed on the website, and other materials produced by and related to BitPay (collectively, the BitPay IP). You are only permitted to use the Services and the BitPay IP to accept and receive payments, according to these Terms. When you accept the Terms, we grant you a personal, limited, revocable and non-transferable license to use the BitPay IP, without the right to sublicense. You shall not rent, lease, sublicense, distribute, transfer, copy, reproduce, download, display, modify or timeshare the BitPay IP or any portion thereof, or use the BitPay IP as a component of or a base for products or services prepared for commercial sale, sublicense, lease, access or distribution. You shall not prepare any derivative work based on the Company IP, nor shall you translate, reverse engineer, decompile or disassemble the Company IP.
By mutual consent, we may publish your corporate name, artwork, text and logo (Merchant Content) on the BitPay website and promotional materials to acknowledge you as our customer. You represent and warrant to us that you have the right to provide the Merchant Content to us, and that the use, copying, modification and publication of the Merchant Content by us: (a) will not infringe, violate or misappropriate any third party copyright, patent, trade secret or other proprietary rights, (b) will not infringe any rights of publicity or privacy, and (c) will not be defamatory or obscene or otherwise violate any law.
Fees & Settlement
We do not charge a processing fee on transactions in our basic payment processing plan. We do charge a processing fee on transactions in our Business and Enterprise Plans. The proceeds payable to you will equal the amount of the invoice (assuming that we have received the full amount of the invoice from the purchaser), unless you agree to accept less than the amount of the invoice, minus the processing fee. We reserve the right to change our fee structure and pricing. Your continued use of the Services after we notify you of any changes in our fees constitutes your acceptance of such change. Current pricing information is provided on the BitPay website at https://bitpay.com/pricing