As of the 8th of January 2018, we're updating our Merchant Agreement to clarify and simplify several important items.
The Merchant Agreement has been updated to:
- Clarify what is meant by a “Chargeback” in terms of the agreement;
- confirm that you accepted the agreement by clicking the acceptance button on sign up;
- include FICA as a step in the “Merchant Onboarding Process”;
- require you to let us know if you make any changes in the ownership of your business or if the authorised account holder changes;
- give Yoco the right to debit your Bank Account if there are not sufficient funds in your Merchant Account to do so to effect a Chargeback or settlement error;
- clarify that transactions may be processed outside of South Africa but must be in amounts denominated in South African Rands;
- highlight that you are responsible for your Merchant Account for as long as you are the authorised account holder;
- request you to inform us if you become aware of any infringement of intellectual Property by Yoco;
- reflect the latest company details.