Onboarding Terms and Conditions

Welcome to WooshPay! Under these Terms and Conditions regarding onboarding, “we”, “us” refers to WooshPay, “you” “your” refers to Merchant (our client).

1.Onboarding Process

To receive our payment services and products, embark on international collections and payments as well as to comply with Know your Customer (KYC), anti-money laundering (AML), combating financing of terrorism (CFT), and to prevent other fraudulent activities , you agree that you will as required by us to go through our onboarding process which includes but not limited to account registration, platform interfacing and transaction testing.

You represent and unconditionally warrant that all information provided by you to us is correct and up-to-date.

2. Account Registration, Identity Verification and Risk Assessment

You agree that you will, as require, to submit your basic business information including without limitation, proof of identity and address, bank account details, business registration documents, tax returns, financial statements, business license and any other documentation for us to conduct background verification. 

After the completion of account registration, and identity verification, you agree that we will conduct due diligence to assess the risk associated with your business, taking into account factors such as the type of business, anticipated transaction volume, chargeback history, geographic locations, third party contributors and compliance history with relevant regulations and industry standards, involving background checks, credit checks, and verification of the information available.

3. Platform Interfacing

We offer various integration solutions and methods which you can choose according to different payment scenarios.

We also have advanced anti-fraud and anti-money laundering monitoring systems to monitor every transaction in real time, providing you and potential users with a security-based, fast and convenient payment platform.

4. Transaction Testing

Before going live (Live domain: https://api.wooshpay.com), you shall test your integration with different platforms to ensure seamless payment processing. We may provide a testing environment (Test domain: https://apitest.wooshpay.com) and technical support where you can simulate transactions and check for any issues, debug the test environment and go live. After going live, we will conduct ongoing monitoring watching for spikes in activities, exceeding thresholds, out-of-area or unusual cross-border activities, changing website products or links, sanction lists, adverse media mentions, and optimisation to efficiency, security and compliance.

5. Information Security Compliance and Data Protection

We will comply with all necessary network and information security statutory requirements in force at the time of the publication of this terms and conditions.

Any data or information processed by us to provide our services will be handled in accordance with our data protection and privacy policies. These policies align with industry regulations and standards such as the General Data Protection Regulation (GDPR) and Payment Card Industry Data Security Standard (PCI DSS), among others. The provision of records and their retention will also follow these guidelines.