Merchant terms

Merchant terms

These terms apply when you use SpotEx to take payments from other people — through payment links, payment buttons, SpotEx Pay checkouts or the merchant API — and to the merchant wallet that holds what you are paid. They add to the Terms of service, which still apply to your account. Where the two differ about taking payments, these terms win.

Who can be a merchant

Applying

You apply from the Merchant page of your account. We review every application and may approve or refuse it at our discretion, without giving every reason. What you tell us — your business name, website and what you sell — must be true and kept up to date. Your business name is shown to buyers on every checkout.

What you may not sell

You may not use SpotEx to take payment for anything illegal where you or your buyer are, or for:

• weapons, explosives, drugs or controlled substances;
• stolen goods, counterfeits, or anything that infringes someone else's rights;
• gambling, lotteries or investment schemes promising returns;
• adult content involving anyone under 18, or any content made without consent;
• services that help others avoid sanctions, taxes or the law, or that launder money;
• "doubling", giveaway or recovery schemes, or anything designed to mislead buyers.

We may refuse, suspend or close a merchant account that we believe breaks these rules, and report it where the law requires.

Payments

How payments work

A buyer pays the price you set, in US dollars, in a coin they choose among those you accept. We turn the price into an amount of that coin at our current price and hold it for a short time. A buyer pays from their SpotEx balance, or by sending crypto from any wallet to an address made for that payment alone.

Fees

We take a fee on each payment, shown in your Merchant Center before you take any. If you choose to receive payments converted into one coin, a higher fee applies to what is converted, also shown there. Fees are taken from what you receive. We may change fees with notice in the Merchant Center; a change never applies to a payment already quoted.

When you are paid

A payment from a balance reaches your merchant wallet at once. A payment sent from a wallet reaches it once the network has confirmed it as we require for any deposit. If less than the quoted amount arrives, we hold what arrived until the rest does, or until you accept it as paid; if neither happens within the period shown in your Merchant Center, we release what arrived to you. A payment that arrives after its price ran out is still yours, at the coin amount that was quoted.

Conversion

If you choose to receive payments in one coin, we sell each payment on the SpotEx spot market as it lands, within a price limit. What cannot be sold within that limit stays in the coin paid, and the extra conversion fee is returned on it. Market prices move; we do not promise any particular rate.

No chargebacks, and refunds are yours to make

Crypto payments cannot be reversed by the buyer, and we do not reverse them. Refunds, returns and disputes with your buyers are between you and them: you may refund from your merchant wallet. We are not a party to your sale and are not responsible for your goods, services or delivery.

Your merchant wallet

What you are paid is held in a merchant wallet apart from your Spot balance. You can move it to your Spot balance at any time to trade or withdraw. Withdrawals follow our normal rules, limits and checks.

We may hold funds in your merchant wallet, or a payment made to you, while we look into a payment that appears connected to fraud, stolen funds, a breach of these terms or a legal request, and we may return funds to their source where the law or a court requires it.

The merchant API

Keys

API keys act for your merchant account. Keep them secret, on your own servers only. Anything done with your key is treated as done by you. A key that can send money must be limited to your servers' IP addresses, and you choose whether it may send only to your whitelisted addresses. Revoke a key at once if you think it is known to anyone else.

Payouts

Payouts made with your key are confirmed by the key alone, without an email or code. Up to the automatic limits shown in your Merchant Center they are sent at once; larger ones wait for our approval. Payouts cannot be undone once sent. Check addresses, networks and memos before you send.

Webhooks

We send payment events to your webhook address and sign them. Check the signature before you rely on an event. We retry for a while if your server does not answer; we do not promise delivery, so check a payment's status through the API before you ship anything of value.

Ending

You may stop being a merchant at any time by telling us through a support ticket. We may suspend or end your merchant account at any time, with notice where we can give it. When a merchant account ends, what is in your merchant wallet remains yours to move to your Spot balance, subject to any hold described above.

Liability

SpotEx provides the merchant service as it is. To the extent the law allows, we are not liable for losses from market prices, network delays or fees, a buyer's conduct, your own systems, or a key you did not keep secret. Nothing in these terms limits liability that the law does not allow to be limited.

Changes

We may change these terms. We will show the date of the latest version on this page, and tell merchants of a material change in the Merchant Center or by email. Continuing to take payments after a change means you accept it.