Merchant Agreement

By submitting an application or using the payment processing services provided by Vertura Payments (“Vertura,” “we,” “us,” or “our”), you (“Merchant,” “you,” or “your”) agree to be bound by this Merchant Agreement (“Agreement”).

1. Services

Vertura provides merchant account services, payment processing, and related support through its partner processors (including but not limited to Beacon Payments). We act as an Independent Sales Organization (ISO) and do not directly process transactions.

2. Merchant Obligations

You agree to:

• Provide accurate and complete information during onboarding and throughout the term of this Agreement.
• Comply with all applicable laws, including PCI DSS security standards.
• Accept full responsibility for all transactions processed on your account.
• Maintain current and valid business information, including bank account details.

3. Fees and Pricing

Fees, rates, and pricing are provided during the application process or via separate rate schedule. Rates are subject to change with notice. You are responsible for all fees associated with your merchant account, including but not limited to transaction fees, monthly fees, chargeback fees, and equipment fees (if applicable).

4. Chargebacks and Liability

You are solely responsible for all chargebacks, returns, and disputes. Vertura and its processing partners reserve the right to debit your account for any chargebacks, fees, fines, or losses. You agree to maintain sufficient funds in your account to cover potential liabilities.

5. Equipment

Any equipment provided (terminals, readers, etc.) remains the property of Vertura or its partners until paid for in full (if applicable). You are responsible for the care and return of equipment upon termination of services.

6. Termination

Either party may terminate this Agreement with written notice. Upon termination, you remain liable for all outstanding fees, chargebacks, and obligations incurred prior to termination.

7. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, VERTURA PAYMENTS AND ITS PARTNERS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES. Our total liability under this Agreement shall not exceed the fees paid by you in the three (3) months preceding the claim.

8. Indemnification

You agree to indemnify, defend, and hold harmless Vertura Payments, its officers, agents, and processing partners from any claims, damages, losses, or expenses arising from your use of the services or breach of this Agreement.

9. Compliance and Prohibited Activities

You may not use the services for any illegal activity or prohibited business types as defined by card networks and our processing partners. We reserve the right to suspend or terminate accounts engaged in high-risk or non-compliant activity.

10. Governing Law

This Agreement shall be governed by the laws of the State of Tennessee, without regard to conflict of law principles. Any disputes shall be resolved in the courts located in Tennessee.

11. Entire Agreement

This Agreement, together with any rate schedules and applications, constitutes the entire agreement between you and Vertura Payments and supersedes all prior agreements.