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In this policy, you will get to learn about the payments available on BSME2E including how we settle payments to the sellers. All the sellers of BSME2E need to create an account on Stripe in order to receive their payments and also add all the Stripe credentials to their dashboard. By using BSME2E Payments Services, you agree to share your information and instructions on your behalf with the payment processor.
Along with the Terms and Conditions and Terms of Sale, BSME2E also incorporates the payment policy for sellers. By using our services, you agree to abide by the policy that we have referred to here.
Our payment processor is Stripe – an online payment processing platform that empowers businesses to accept payments through different payment methods. The processing and settlement of the payments of all the transactions are carried out by the processor. By acknowledging this agreement, you are also agreeing to the Processor’s Terms and Conditions, which is a legal agreement between you and the processor.
By accepting the processor terms, you are agreeing to create an account with the processor for the purpose of receiving payments. BSME2E reserves the right and has the sole discretion to change the processor, subject to our agreement terms with the processor.
The role of Stripe is to process debit cards, credit cards, and other payment types based on geographical location for the sale of your products and services via online transactions.
All the payments will be settled by the BSME2E admin to the sellers by the end of the day through this payment processor. Therefore, the sellers should add all the Stripe credentials to their seller dashboard.
The settlement amount is the total value that you’ve earned through the sale of your products and services. It also means the total amount minus the amounts that you owe to us.
The list of payment methods offered by Stripe includes Google Pay, American Express, Klarna, GrabPay, and much more. The availability of payment methods will vary depending on the location. The available payment methods will be displayed on your Stripe dashboard.
To the extent permitted by law, BSME2E can by requesting the payment processor, collect any obligations that you owe us. We may request the processor to deduct the amount from the funds payable to you arising from the settlement of payments. However, if the amount is not sufficient enough to fulfill your obligations, BSME2E reserves the right to charge the payment method linked with your BSME2E payments account. It will be considered a breach of the agreement if such obligations are not settled and there can be legal actions taken against you. In such a circumstance, all the costs including attorney fees, costs for court proceedings, and other applicable interests will have to be borne by you.
