*General Eligibility Criteria and Terms
The promotional offer described below (“Offer”) is available from May 15, 2024 to June 30, 2024 (the “Offer Period”) and is available only to merchants located in Canada who meet each of the following criteria (the “Eligibility Criteria”):
1. The merchant is not an existing Paystone merchant, and must enter into a merchant agreement for credit and debit card processing (“Merchant Agreement”) with Paystone Inc. (“Paystone”) during the Offer Period.
2. The merchant successfully signs up for a Desk5000, Move5000, Newland N910, Virtual Terminal, or eCommerce, while supplies last.
3. The following must not apply to the merchant: (i) the merchant currently participates in a merchant program for franchisees, trade associations, member associations or other buying groups; and (ii) the merchant has processed an aggregate Visa® and Mastercard® transaction volume of $2,500,000 CAD or greater in the three (3) months preceding acceptance of the Offer.
4. The merchant must remain with Paystone for 12 months from the approval date of their Merchant Agreement (“Merchant Agreement”) and process a minimum of $280,000 credit card volume within the first 12 months to be eligible in accordance with the table below. Gift Card Amount shall be determined at the end of the initial 12 month period after onboarding once the Annual Credit Card Volume is determined, and Gift Card Amount shall be issued to merchants within 90 days of this anniversary date.
Offer Details and Limitations:
Merchants that fulfill the Eligibility Criteria will receive the following, as determined by Paystone acting in its sole discretion:
1. Paystone will waive rental fee for the first 3 months on the eligible device at the start of the term upon entering into a Merchant Agreement for credit and debit card processing with Paystone.
2. Paystone will issue a one-time Amazon Gift Card of up to CAD $500 to the merchant based on the merchant’s Visa and Mastercard credit card transaction volume (purchase transactions only) during the first 12 months of entering into a Merchant Agreement. The Gift Card amount is calculated at the sole discretion of Paystone in consideration of the merchant’s total processing volume.
Pursuant to the terms of this offer, the Amazon Gift Card shall be a value of up to CAD $500 that will be mailed directly to the merchant. This Gift Card shall not constitute a cash refund or a cash disbursement. The Gift Card must be accepted as awarded and cannot be received in another other format, substituted, transferred, or exchanged for cash or other value.
If a merchant declines the Offer option that is made by Paystone, Paystone shall have no obligation to offer an alternative option.
Offer is limited to one (1) device per merchant that fulfills the Eligibility Criteria. This limit applies regardless of whether the merchant is party to more than one Merchant Agreement.
Paystone is under no obligation to approve a merchant for any services and reserves the right to determine a qualified merchant in accordance with its credit adjudication and other policies and procedures. Following satisfactory internal Paystone approval, merchants will be required to agree to, and agree to be bound by, the terms and conditions under the Merchant Agreement. The Offer is subject to change, withdrawal or cancellation at any time and is not valid or combinable with any other offer for Paystone payment processing services. The merchant remains responsible for all other fees and payments in accordance with their Merchant Agreement, including applicable restocking fees.
All applicable fees and charges in the Merchant Agreement apply throughout the Offer Period and thereafter.
Limitation of Liability
Paystone, its officers, directors, employees, shareholders, promotion agencies, agents, successors, assigns and service providers will not be liable for any direct, indirect, incidental, special, or consequential damages arising out of the Offer, even if advised of the possibility of such damages. By participating in the Offer, the merchant waives any and all rights to bring any claim or action related to such matters in any forum. The merchant agrees that any and all disputes, claims and causes of action arising out of or connected with the Offer, shall be resolved individually, without resort to any form of class action.
By participating in the Offer, the merchant agrees to release and hold harmless Paystone and each of its parents, subsidiary, affiliate and related companies, and its and their respective officers, directors, employees and agents, from and against any losses, damages, rights, claim or cause of action of any kind arising or resulting, in whole or in part, directly or indirectly, out of participation in the Offer or from acceptance, possession, use or misuse of any item given in connection with the Offer.
**This example uses Mastercard’s Core Contactless Interchange Rate and includes our average markup. We Pass Through the Direct Cost of Interchange and Assessment Rates plus our markup rate for our services. On average, our markup is 0.4% on credit card transactions, but this depends on the merchant’s processing volume, industry, and whether they process in-store and/or online. There is a standard $0.05 fee on all debit and credit card transactions, plus an extra $0.035 for Interac Flash (tapped debit card) transactions.
***All merchant accounts are subject to a monthly minimum charge of $20. This does not include monthly payment terminal rental prices.
Our online payment gateway and/or virtual terminal have a one-time upfront setup fee of $99. Depending on the acquirer, all e-commerce transactions have an extra authorization fee.
