Summary of Key Elements of the Agreement
| Summary of Key Elements of the Agreement | |
|---|---|
| Date of Agreement | This Agreement shall become effective as of the “Effective Date”, as such term is defined in the Terms of Services of the Merchant Agreement, and shall remain in full force and effect until terminated in accordance with the provisions set forth therein. |
| Acquirers | Credit Acquiring Services: Peoples Trust Company Address: 888 Dunsmuir Street, Suite 1400 Vancouver, BC, Canada, V6C 3K4 Telephone: 1.604.683.2881 Website: www.peoplestrust.com/about-us/contact/ Interac Debit Services: PayFacto Payments Inc. Address: 1 Place du Commerce Suite 402, Verdun, Quebec, H3E 1A2 Telephone: 1.877.341.8293 Website: www.payfacto.com |
| Payment Processor, Payment Facilitator and Aggregator | Payment Processor: PayFacto Payments Inc., 1 Place du Commerce Suite # 402, Verdun, Quebec, H3E 1A2, www.payfacto.com, 1.844.762.3222, support@payfacto.com PayFacto is an Independent Sales Organization (ISO) and is not an affiliate, subsidiary, or member of Peoples Trust Company. ISO is the Merchant's agent for the delivery of transactions via the applicable processing. ISO becomes the merchant’s agent for the delivery of transactions via the applicable processing. |
| Cancellation of contract(s) and applicable penalties | Merchants have the right to cost certainty over the course of their agreements related to the provision of Card processing. Merchants can cancel their agreements related to the provision of Card processing, without any form of penalty, within 70 calendar days after the effective date of the following: (1) an increase of any existing Acquirer/Processor Fee or applicable domestic Card Association Core Fee passed on in part or in full to a merchant; (2) the introduction of a new Acquirer/Processor Fee or applicable domestic PCNO Core Fee passed on in part or in full to a merchant; and/or (3) a reduction in applicable domestic PCNO Core Fees that are not passed on in full to a merchant. After a merchant provides notice of its intent to exit, the Acquirer or PayFacto will send the merchant any necessary documentation to process the cancellation within five (5) business days. The cancellation will become effective on the date requested by the merchant, provided that: (1) the merchant has fulfilled any outstanding obligations for cancellation (e.g., rental equipment returned and necessary forms signed); and (2) the requested date is at least 30 calendar days after the date the merchant submits any required cancellation documentation, unless an earlier date is agreed to by PayFacto, the Acquirer and the Merchant. Acquirers or Downstream Participants, as applicable, must notify their merchants between 30 and 60 calendar days prior to the effective date of: (1) any new or increased Acquirer/Processor Fee passed on in part or in full to merchants; (2) any new or increased applicable domestic PCNO Core Fee passed on in part or in full to merchants; or (3) any reductions in applicable domestic PCNO Core Fees not passed on in full to merchants. Cancellation must be submitted in writing to PayFacto Payments Inc. by email or mail. If the merchant cancels the contract for any other reason than stated above, unless PayFacto is in breach of the contract, merchant will pay a penalty fee as follows: If the merchant’s average monthly card processing volume is less or equal to $15,000 over the last 12 months (or since the beginning of the contract if it has not been in force for 12 months), a flat fee of $300 per location; or If the merchant’s average monthly card processing volume is over $15,000 over the last 12 months (or since the beginning of the contract if it has not been in force for 12 months), an amount equal to: the number of months remaining in the term of the contract multiplied by the average monthly card processing fees received by PayFacto plus any costs and legal fees incurred in connection with collecting such damages. Contract renewals. The term of the contract extends automatically for a period of six months per extension. Notice of non-renewal. Should the merchant not wish to renew the contract at the end of its term or any renewal period, he or she must provide PayFacto Payments Inc. with notice of no less than 45 days prior to the end of the term or the renewal |
| Complaint handling procedures | Merchant complaints should be addressed to PayFacto Payments Inc. 1 Place du Commerce Suite # 402, Verdun (Québec) H3E 1A2 Site Web : https://payfacto.com/file-a-complaint/ complaints@payfacto.com 1-844-762-3222 Or People Trust Company 888 Dunsmuir Street, Suite 1400 Vancouver, BC, Canada, V6C 3K4 https://www.peoplestrust.com/en/about-us/resolving-your-concerns/complaints@peoplesgroup.com 604-683-2881 |
| Transaction return policy | All returned transactions are subject to a per transaction fee and any Interchange or card brand assessments levied. |
| Code of Conduct for the Payment Card Industry in Canada | The Code of Conduct for the Payment Card Industry in Canada provides increased pricing transparency, flexibility, and choice for merchants with respect to accepting payment cards. It sets out several rights that merchants have in relation to their agreements and their statements for payment card processing services. All payment card networks operating in Canada have adopted the Code. More information about the Code of Conduct can be found here: https://www.canada.ca/en/financial- consumer-agency/services/industry/laws-regulations/credit-debit-code-conduct.html |
| Statements | Merchant statements are sent by email and are available using PayFacto's merchant portal |
| Information about payment terminals, if applicable | Not applicable. |
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