These terms (“SPC Terms”) are an agreement between you, being the sole proprietor or legal entity identified as the owner of an account with Stripe, Inc. (“Stripe”), and Stripe Payments Company (“SPC”) which has its principal place of business at 510 Townsend Street, San Francisco, CA 94103. SPC is a licensed money transmitter and federally registered money services business.
Certain services offered as part of the Services may be money transmission within the meaning of laws that apply to those services. To the extent you use our regulated money transmission or similar services, those services are the “SPC Services” and are provided to you by SPC, not by Stripe, Inc. These SPC Terms set out the terms that are applicable to those SPC Services.
To use the SPC Services, you must accept these SPC Terms. You must also have an agreement with Stripe, Inc. for technology services that enable instructions to be relayed to SPC. SPC will not charge you fees for the provision of the SPC Services; fees payable for the Services (including technology services related to the SPC Services) will be determined under your agreement with Stripe.
1. Relationship to Stripe Services Agreement
You expressly agree to the terms and conditions of these SPC Terms, the Stripe Services Agreement, and any updates or modifications to either of those documents made from time to time by Stripe. Capitalized terms used in these SPC Terms but not defined have the meanings given in the Stripe Services Agreement. You represent to SPC that all of the information that you provide to SPC directly or through your use of the Services is accurate and complete, and that you are authorized to agree to these SPC Terms.
These SPC Terms apply as between you and SPC with respect to the services that SPC provides to you in its role as a Financial Services Provider under these SPC Terms and the Stripe Services Agreement. These SPC Terms incorporate via reference the terms of the Stripe Services Agreement, except that in each case “Stripe” will be deemed to be a reference to SPC, and the application of the incorporated terms will be limited to the SPC Services. Please note that all other parts of the Services will remain governed by the Stripe Services Agreement between you and Stripe, Inc.
Please read these SPC Terms carefully. To the extent that there is a conflict between the Stripe Services Agreement, as incorporated into these SPC Terms, and these SPC Terms, these SPC Terms will prevail.
2. The SPC Services
By using the API or your Dashboard, you may use the Stripe Services to send instructions to SPC for the following:
a. Funding of money transmissions. You may pass information, including a bank account and dollar amount, to SPC for purposes of funding a money transmission. You authorize SPC to use this information to attempt to debit your bank account. If a debit is successful, you will receive a money transmission receipt specifying the dollar amount you have provided to SPC for money transmission purposes. From time to time, SPC may also make other means of funding a money transmission available to you, and will provide you with a money transmission receipt after each successful funding transaction.
b. Sending money transmission instructions. You may pass transmission instructions to SPC, including information to identify your intended recipient, the date on which you would like your transmission to occur, and the dollar amount of the transmission. SPC will use this information to attempt to complete the transmission to your intended recipient.
c. SPC’s obligation to transmit funds. SPC will attempt to transmit funds as instructed by you, including on the date you specify in your money transmission instructions. Funds that cannot be delivered to your intended recipient will be returned to you. Depending on the information you provide, and your other use of the SPC Services and the Services provided to you by Stripe, you agree to allow SPC to pause any transmissions for illegal activity, fraud, risk or compliance purposes, which may include (i) withholding transmission funds to offset chargeback or other fraud losses owed to Stripe, (ii) interdicting transmission funds for compliance purposes, such as to comply with U.S. sanctions obligations, (iii) pausing your use of the SPC Services.
d. Your use of SPC’s Services. You may not use the Services or SPC Services for illegal activities or for any of the business activities found on the Restricted Business List. During your use of the SPC Services, your funds will be held in a pooled account that is segregated from any accounts used for operating expenses of SPC or Stripe. Funds will be held for your benefit, and neither SPC nor Stripe will voluntarily make such funds available to creditors in the event of bankruptcy. Depending on where your business is headquartered, additional protections may apply to the funds under your state’s money transmission laws. SPC may receive interest on amounts it holds on your behalf. You hereby assign all rights, interests and claims in any such interest amounts to SPC.
3. SPC Services not available for personal, family or household use
You may not use the SPC Services to send money transmissions for personal, family or household use. By using the SPC Services, you expressly warrant and represent to SPC that you are a corporate legal entity or a sole proprietor.
4. Allocation of liability and dispute resolution
Under section 1 of these SPC Terms, the Stripe Services Agreement is expressly incorporated into these SPC Terms. Your rights and obligations with respect to SPC and the SPC Services are subject to the terms of the Stripe Services Agreement. Without limiting the general incorporation of the Stripe Services Agreement terms, please ensure that you carefully review the following provisions:
a. Sections E.6, E.7, E.8 and E.9, which allocate responsibility and liability between you and SPC with respect to matters arising under these SPC Terms; and
b. Section E.11, which provides that a dispute, claim or controversy arising out of or relating to statutory or common law claims, the breach, termination, enforcement, interpretation or validity of any provision of these SPC Terms, and the determination of the scope or applicability of your agreement to arbitrate any dispute, claim or controversy originating from these SPC, but specifically excluding any dispute principally related to either party’s intellectual property (which such dispute will be resolved in litigation before the United States District Court for the Northern District of California), will be determined by arbitration in San Francisco, California before a single arbitrator, in accordance with the provisions of Section E.11.
5. Contact and complaints
You can contact SPC by email or by sending mail to Stripe Payments Company, 510 Townsend Street, San Francisco, CA 94103.
SPC may provide you with information and notifications in the relation to the SPC Services via your Stripe Dashboard.