Terms & Conditions

Terms and Conditions for Cypherwave Technology

1. Introduction:

These Terms and Conditions govern the use of the Cypherwave Technology Processing website (“the Website”), provided by Cypherwave Technology, hereinafter referred to as “Cypherwave Technology.” Please review these terms carefully before using the Website. By accessing or using the Website, you agree to these terms. If you do not agree with these terms, please do not use the Website or any services provided by Cypherwave Technology.

2. Parties:

This Agreement is between the user (“Customer”) and Cypherwave Technology, a company registered in Cyprus (Company Reg: HE 461625).

3. Amendments:

Cypherwave Technology reserves the right to modify these terms and conditions at any time. All amendments will be posted online, and continued use of the services implies acceptance of the revised terms.

4. Provision of the Service:

a. Use of the Cypherwave Technology Processing website is currently free. Any applicable charges will be clearly communicated before selecting services, or as per the criteria selected. Customers have access to the services listed on this website for Cypherwave Technology to provide its services to you, the client.

b. The Customer is responsible for transmitting payments to Providers as per the agreed terms and bears no responsibility for payment transmission.

5. Customer’s Obligations:

a. The Customer must complete a registration process, including onboarding specific to the services provided, and create a password for access to saved searches.

b. Information provided must be accurate and promptly updated. Passwords are confidential, and any unauthorized access must be reported to Cypherwave Technology. Cypherwave Technology does not hold or store client data and is GDPR compliant.

6. Intellectual Property Rights:

a. All intellectual property rights in the Cypherwave Technology Processing website, content, and software remain with Cypherwave Technology.

b. Reproduction or use of the service beyond these terms is prohibited.

c. Trademarks such as Cypherwave Technology Processing, www.cypherwavetechnology.com, and the logo are the property of Cypherwave Technology and must not be used without written permission.

7. Termination:

a. Cypherwave Technology may suspend or terminate services if fraud is suspected.

b. Termination does not affect accrued rights or obligations.

8. Limitation of Liability:

a. Cypherwave Technology strives for accurate information but does not guarantee its completeness or suitability.

b. Cypherwave Technology is not liable for any loss or damage connected to service use, website content, or transactions with Providers.

9. No Partnership/Agency:

This Agreement does not establish a joint venture, partnership, or agency relationship between the Customer and the company or supplier of services to the customer.

10. Data Protection:

Cypherwave Technology adheres to applicable data protection laws in Cyprus. For details on personal data usage, contact support@cypherwavetechnology.com.

11. Assignment:

The Customer cannot assign rights under this Agreement. Cypherwave Technology can assign its rights to any person or entity.

12. Force Majeure:

Cypherwave Technology is not liable for breaches caused by events beyond its reasonable control.

13. Entire Agreement and No Waiver:

This Agreement supersedes all other agreements, oral or written. No waiver by Cypherwave Technology releases the Customer from liability.

14. Notices:

All notices under this Agreement must be in writing.

15. Governing Law:

This Agreement is governed by the laws of the European Union. Both parties submit to the non-exclusive jurisdiction of the courts.

16. Refund Policy:

a. Cypherwave Technology understands the importance of customer satisfaction and will aim to resolve any issues as soon as possible.

b. Refund requests must be made within 30 days of the original purchase, via online or in-person methods where applicable.

c. Eligibility for a refund is subject to the terms specified on the respective product or service page. Customized or digital downloadable products may not be eligible.

d. To request a refund, contact our customer support at support@cypherwavetechnology.com.

e. Refunds will be issued to the original payment method and may take up to 7-14 business days to process, unless Cypherwave Technology states otherwise.

f. Cypherwave Technology reserves the right to refuse or cancel refunds at its discretion if the service is abused.

g. Refused transactions may result in the suspension of services.

17. Purchase of Services or Goods:

These terms also apply to the purchase of services or products online or, if applicable, in person via a card reader. Cypherwave Technology provides services, and payment can be made online or, if applicable, in person via a card reader. All fees are standard banking rates.

18. Invoicing and Payment:

a) Invoices for services will be issued according to standard policy and are payable immediately unless stated otherwise by Cypherwave Technology. Payments are processed upon delivery of an approved invoice for services provided. A detailed invoice will be issued upon completion of the provision of services.

b) Cypherwave Technology will send a payment link for the invoice, or payment can be made in person via card if a terminal is available.

19.POS

Cypherwave Technology’s order fulfillment process is meticulously crafted to ensure a seamless experience, including secure payment handling, real-time updates, and integration with various payment methods via our terminals and bank APIs. Please refer to Section 18 on invoicing and payments. However, for trade shows or specific events, payment can be made in person depending on the payment options provided by Cypherwave Technology (Terminal or payment link). Our commitment to user-friendly, secure, and adaptable practices ensures a positive and customizable transaction experience. By utilizing the Cypherwave Technology Processing website, users confirm their agreement to these terms and conditions, including the refund policy.

Last Updated: 01.01.2024.

Card Processing Terms and Conditions – Payment Gateway (only applicable services, ECOM)

1. Introduction

These Card Processing Terms and Conditions (“Terms”) govern the provision of card processing services (“Services”) by Cypherwave Technology (“we,” “us,” or “our”) to the merchant (“you” or “your”). By using our Services, you agree to be bound by these Terms.

2. Definitions

Immediate Payment: The process where funds from transactions are transferred to your account shortly after the transaction is processed, subject to terms and conditions. Payments are processed upon delivery of an approved invoice for services provided.

Rolling Reserve: A portion of your daily transaction volume held back to cover potential chargebacks, disputes, or refunds.

High-Risk Merchant: A merchant categorized as high-risk due to the nature of their business, transaction volume, or other risk factors.

Payout Delay: A delay in the disbursement of funds to your account, applicable to high-risk merchants and under specific circumstances to reduce risk.

3. Agreement to Terms

By agreeing to work with Cypherwave Technology, you acknowledge and accept all terms set out herein. You also agree that rolling reserves and delayed payments will be implemented in all deals to mitigate risk for our acquiring partners and Cypherwave Technology.

4. Services Provided

Our card processing services are used for, unless stated on the website:

eCommerce: Enabling online payment processing for merchants selling goods and services via the internet. These services are available only if managed by Cypherwave Technology.
POS Terminals: Providing point-of-sale terminals for in-store transactions. To access these services, please complete the application form in the acquiring section of this website.
Application Development Gateways and API Integrations: Facilitating integration with various applications and platforms through our secure APIs. Subscriptions for card processing are not offered unless specifically set up through GoCardless.

5. PCI DSS Certification

We hold PCI DSS (Payment Card Industry Data Security Standard) certification, ensuring that we adhere to the highest security standards to protect cardholder data during transactions.

6. Immediate Payment

We strive to provide immediate payment for transactions processed through our Services. However, the actual time frame for fund transfer may vary based on the acquiring bank and other factors beyond our control. Immediate payment is subject to compliance with all terms and conditions outlined herein. However payment is expected Immediately as work will commence according to this instruction.

7. Rolling Reserve

We hold a PCI DSS (Payment Card Industry Data Security Standard) certification, ensuring that we adhere to the highest security standards to protect cardholder data during transactions.

To manage risk and ensure financial stability, we will implement a rolling reserve as follows: A percentage of each transaction will be held in reserve. The reserve will be released after a specified period, typically 7-10 days (unless Cypherwave Technology states otherwise), provided there are no chargebacks, disputes, or refunds. The reserve percentage and holding period will be determined based on your business profile, transaction history, and risk assessment.

8. High-Risk Merchants

High-risk merchants are subject to additional terms due to the increased risk associated with their transactions. If you are classified as a high-risk merchant, a higher rolling reserve percentage will be applied when billing you, and there will be a payout delay on funds to mitigate potential risks, typically lasting 7-14 days. You will be notified of your classification as a high-risk merchant and the specific terms applicable to you.

9. Payout Delay

To further manage risk, a payout delay may be applied in circumstances such as classification as a high-risk merchant as defined in Section 8, large or unusual transaction volumes, potential fraud or compliance issues, and other risk factors identified by Cypherwave Technology or our acquiring partners.

10. Chargebacks and Disputes

In the event of a chargeback or dispute, the corresponding amount will be deducted from your account balance or rolling reserve. You are responsible for managing and resolving chargebacks and disputes in accordance with card network rules. Any unresolved chargebacks or disputes may result in additional reserves or further payout delays.

11. Fees and Charges

You agree to pay all fees and charges associated with our Services as outlined in the fee schedule provided to you. We reserve the right to modify our fee structure without prior notice.

12. Termination

We reserve the right to terminate your access to our Services at any time, with or without cause. Upon termination, any remaining balance in your account, after deducting applicable fees and reserves, will be transferred to you in accordance with our payout terms.

13. Limitation of Liability

We are not responsible for any indirect, incidental, or consequential damages resulting from your use of our Services. Our liability is strictly limited to the total amount of fees you have paid for the Services in the three months preceding the claim.

14. Chargeback Threshold

We do not accept clients with a chargeback rate exceeding 0.3% of total transactions. If your chargeback rate surpasses this threshold while using our Services, we reserve the right to either terminate your access or impose additional reserves and payout delays.

15. Governing Law

These Terms are governed by and construed in accordance with the laws of the United Kingdom and the European Union, excluding any conflict of law principles.

16. Amendments

We reserve the right to modify these Terms at any time. Changes will take effect immediately upon posting the updated Terms on our website. Your continued use of our Services signifies your acceptance of the revised Terms. This agreement governs all our services; if you do not agree with these terms, please do not use our services. By using our services, you agree to comply with these Terms and Conditions. Cypherwave Technology, its officers, and affiliates are not liable for any claims, damages, or losses related to the website, products, or services, including those arising from contract, warranty, negligence, or any other liability. The customer waives any such claims or causes of action.