Terms of service
1. Introduction
1.1 This agreement is between Platino Payments SBK LLC (“Platino”, “we”) and the business named in the online application form (the “Business”, “you”).
1.2 The agreement consists of this introduction, these Terms of Service, the Fee Schedule agreed with you and the online application form. If they conflict, the Fee Schedule prevails on fees and these Terms prevail on everything else.
1.3 The agreement takes effect only when we confirm your onboarding in writing and send you a welcome email. Until then we have no obligations to you.
1.4 The services are intended for businesses that sell goods or services to their own customers. They are not offered to individuals acting as consumers.
2. Definitions
2.1 “Account” means your account in the Platino dashboard.
2.2 “Holding Account” means the account where we receive Purchase Amounts from payers before settling them to you.
2.3 “Settlement Account” means the bank account you name in your application, to which we pay out funds.
2.4 “Purchase Amount” means the value of a payment made by your customer.
2.5 “Transaction” means a card, QR or NFC payment, a payout or a transfer processed through the services.
2.6 “Transaction Fee” means the fee we charge for each Transaction, as set out in the Fee Schedule.
2.7 “Fee Schedule” means the rates, limits, reserve and other charges agreed with you in writing.
2.8 “Chargeback” means the reversal of a card payment requested by a cardholder or a card issuer.
2.9 “Restricted Business” and “Prohibited Business” have the meanings given in clauses 5.1 and 5.2.
2.10 “Policies” means our Privacy Policy, AML Policy and Cookie Policy published on the website, as updated from time to time.
2.11 “Force Majeure Event” has the meaning given in clause 19.1.
2.12 “Business Day” means a day other than a Saturday, a Sunday or a public holiday in the jurisdiction in which Platino is registered.
2.13 “Service Dispute” means a dispute arising only from our alleged failure to perform our obligations under the agreement. Any other dispute is a “Dispute”.
3. Business declaration
3.1 You confirm that all information in your application is correct, true and complete, and that you will tell us promptly if it changes.
3.2 Providing false or misleading information may lead to termination, withholding of funds and civil or criminal proceedings.
3.3 The person who submits the application confirms that they have the authority to bind the Business. If they do not, they may be personally liable.
4. Eligibility and onboarding
4.1 To use the services you must submit an application, pass our know-your-customer (KYC) and due diligence checks, and be approved under clauses 5.1 and 5.2.
4.2 We may ask for company documents, ownership and beneficial-owner information, proof of address, bank details, access to your website and any other information we reasonably need, at onboarding and at any time afterwards.
4.3 You consent to us verifying your information with third parties, such as banks, payment partners, credit bureaus and screening providers.
4.4 We may approve or decline any application at our discretion and are not obliged to give reasons.
4.5 If the settlement details you provide are wrong, funds may go to a third party. We are not liable for this, and you must tell us about any error promptly.
5. Restricted and prohibited businesses
5.1 Restricted Businesses include medical and healthcare services, insurance, regulated financial services, real estate brokerage, businesses that need an additional licence, and designated non-financial businesses and professions. You must declare them in your application. They go through an additional review, which we decide at our discretion.
5.2 Prohibited Businesses include crypto-asset trading platforms, unregulated brokers and CFD providers, charities and fundraising, lotteries and raffles, counterfeit goods, fake followers and traffic, pawn shops, crowdfunding, high-value art, precious stones and metals, military and dual-use goods, illegal goods and services, and any business we consider a reputational risk. We do not provide services to Prohibited Businesses.
5.3 We may update both lists at any time. Where practicable, we will tell you about material changes.
5.4 If you start a Restricted or Prohibited activity after onboarding, you must tell us at once. We may terminate the agreement immediately if we believe this happened without our approval.
6. Account and security
6.1 We open your Account once your application is approved. You must keep your details up to date and use the Account only through the Platino dashboard.
6.2 You are responsible for the security of your login credentials and API keys. Each user must have separate credentials, and credentials must not be shared.
6.3 You must tell us immediately if credentials are lost, stolen or compromised. We may suspend the services until new credentials are issued, and we are not liable for interruptions this causes.
6.4 We may ask for additional verification, such as security questions or one-time codes. If you cannot provide them, we may refuse to act on an instruction.
6.5 You must check your dashboard regularly and tell us promptly about anything that looks irregular.
6.6 We do not guarantee uninterrupted access. We schedule maintenance with reasonable notice, but urgent maintenance may be carried out without notice.
7. Payment acceptance service
7.1 Your customers pay by bank card, QR code or NFC. We receive the payment first, and it is not paid directly to you. We then settle the net amount to you under clause 8.
7.2 After each successful Transaction we email you the reference number, amount, fee (plus tax) and date. For some payments we may require extra verification, such as a 3D Secure code.
7.3 Sales are made between you and your customer. We facilitate the payment and are not responsible for the quality, safety, legality or delivery of your goods or services.
7.4 You may use payment links and checkout pages only for genuine customer transactions. Your website must have a privacy policy under which customers consent to their payment data being passed to us and our payment partners.
7.5 We are not responsible for failed payments caused by third parties, such as a failed card check, insufficient customer funds or a decline by the card issuer.
7.6 We may suspend, refuse or reverse any Transaction that we reasonably suspect to be unlawful, fraudulent, in breach of the agreement or a risk to us (a “Bad Transaction”), and may ask you for proof of delivery or of the customer’s consent.
8. Settlement
8.1 We run a daily settlement cycle. Funds normally reach your Settlement Account about 3 Business Days after the Transaction, but we do not guarantee this. Bank holidays, partner delays and system issues may extend the period.
8.2 We settle only when the net amount due to you exceeds the equivalent of USD 5,000. We may change this threshold if your risk profile requires it. On termination we pay out any remaining balance regardless of the threshold.
8.3 We pay in the currency of your Settlement Account. If a conversion is needed, we use our exchange rate at the time of settlement.
8.4 We aim to reconcile payments by the next Business Day but do not guarantee any timescale.
8.5 We pay no interest on funds we hold. We are not a deposit-taking bank and hold funds only for as long as needed to process them.
8.6 If your Transaction records and ours differ, you must tell us as soon as possible and in any case within 30 days. We are not liable for the consequences of late notice.
9. Fees and taxes
9.1 You pay the Transaction Fee for every Transaction, and any other charges set out in the Fee Schedule. We deduct them from the amounts we settle to you.
9.2 Rates published on the website are indicative. Your individual rates are those in the Fee Schedule.
9.3 Fees exclude VAT and other taxes. If we must charge VAT, you pay it in addition.
9.4 We may change fees with at least 14 days’ notice, unless the law requires a faster change. If you keep using the services after the change date, you accept the new fees. If you disagree, you must stop using the services before that date.
9.5 We may introduce fees for new or changed features.
9.6 You are responsible for determining and paying your own taxes and for issuing compliant invoices to your customers. We may appear on your customers’ statements, but you remain the seller.
10. Refunds and chargebacks
10.1 You must have a fair and lawful returns policy and make it visible to your customers. You handle refunds yourself. We take no part in returns.
10.2 On a refund or an accepted Chargeback we do not return the Transaction Fee or any taxes charged on the original Transaction.
10.3 If a Chargeback is raised, we are debited and may be liable to our partners and the card schemes. We do not investigate the Chargeback and have no duty to form a view on it.
10.4 To contest a Chargeback you must send us your response and supporting evidence within 24 hours of our notice. If you do not, you give up the right to contest it and the Chargeback is accepted.
10.5 We recover Chargeback amounts first from funds in your Holding Account and then from future settlements. If we cannot recover the amount within 2 Business Days, we may demand payment from you as a debt.
10.6 You bear all costs of a dispute, including scheme and partner fees, and you indemnify us for losses from Chargebacks.
11. Reversals, reserve and account deficit
11.1 If we reverse a Transaction, you must give us proof of delivery or of the service within 24 hours of our request. Otherwise we have no obligation to process it.
11.2 You must report unauthorised or incorrect Transactions within 6 months of the Transaction date.
11.3 We may hold back a percentage of your settlements as a rolling reserve against Chargebacks and fraud. The percentage and period are set individually in the Fee Schedule and are usually 5–10% held for up to 180 days.
11.4 If Chargebacks, reversals or fees leave a deficit on your Account, we may set it off against funds in your Holding Account. If these are not enough, you must pay the shortfall within 2 Business Days of our request. You may not set off any amounts you claim from us.
11.5 If you act fraudulently or with gross negligence, you are fully liable for all fees and for our losses.
12. Payouts and B2B transfers
12.1 Where we provide mass payouts or B2B transfers (including SWIFT and SEPA), you instruct us through the dashboard or the API. You are responsible for the accuracy of beneficiary names, account numbers and payment references.
12.2 We process instructions on Business Days before the cut-off time shown in the dashboard. Domestic and SEPA payments usually take 1 Business Day and SWIFT payments 1–3 Business Days, but the final timing depends on the banks involved.
12.3 A payout or transfer is irrevocable once we have sent it. If you send funds to the wrong beneficiary, we will try to recall them but do not guarantee recovery.
12.4 Intermediary and beneficiary banks may charge their own fees. Unless the Fee Schedule says otherwise, you bear them.
12.5 We execute payouts only from funds available on your Account. We may delay or refuse an instruction if it exceeds your limits or fails our compliance checks.
13. Compliance, AML and sanctions
13.1 The services depend on successful due diligence and anti-money laundering checks. We may suspend the services if we reasonably believe you are not complying with the law or our Policies.
13.2 You must comply with our Policies and with all laws that apply to your business, including AML, sanctions, consumer protection and tax laws.
13.3 You confirm that neither you nor your owners, directors or beneficiaries are the subject of sanctions imposed by any competent international or national authority.
13.4 We may adjust the services, including fees, speed and limits, to comply with the law, and may do so without prior notice.
13.5 We may retain funds, restrict Transactions or disable credentials where the law, a court or a regulator requires it, or to protect us or our other clients. We will tell you why where the law allows.
13.6 We may report suspicious activity to the competent authorities without notifying you.
14. Data protection and confidentiality
14.1 Each party keeps the other’s confidential information confidential and uses it only to perform the agreement. You are responsible for your staff and contractors.
14.2 You must comply with data protection law and tell your customers that a third party processes payments.
14.3 We protect your personal data and disclose it only where the law requires, to perform the agreement, in connection with a merger or acquisition, or with your consent.
14.4 For your customers’ payment data we act as an independent data controller.
14.5 Our Privacy Policy describes how we process personal data. We publish changes on that page.
14.6 We use reasonable security measures but cannot guarantee that they will always be effective. You must keep your own backups of the data you need.
15. Intellectual property and brand
15.1 Each party keeps all rights in its own trademarks, logos and other brand features. The agreement grants no licence to them.
15.2 You may not use our name or logo except as we agree in writing.
15.3 We own the software, dashboard, API, documentation and all related rights. You receive a limited, non-exclusive, non-transferable right to use them during the agreement for your own business.
16. Warranties
16.1 Each party confirms that it has the authority to enter into the agreement.
16.2 You warrant that you own or are licensed to use your content and intellectual property, that it does not infringe third-party rights, and that you hold all licences needed for your business.
16.3 You warrant that you are not a Prohibited Business, that you provide accurate information and that you comply with the laws on sales and advertising.
16.4 We give no warranties beyond those in the agreement. We do not warrant uninterrupted or error-free services, and no implied terms apply.
16.5 We are not liable for any breach caused by your non-compliance.
17. Limitation of liability
17.1 Nothing in the agreement limits liability that cannot lawfully be excluded.
17.2 We are not liable for lost profit, lost revenue, loss of goodwill, loss of data, the cost of replacement services or any indirect or consequential loss.
17.3 We are not liable for losses caused by your breach, your reliance on our advertising, a change to the services, a malfunction outside our control, unauthorised access to your Account or your own fraud.
17.4 Except for the funds we owe you, our total liability in any calendar year is limited to the Transaction Fees we earned from you in that year.
18. Indemnification
18.1 You indemnify us, our affiliates and our staff against claims, losses and costs, including reasonable legal fees, arising from your breach of the agreement, a Prohibited or unapproved activity, infringement of third-party rights, misuse of the services, your fraud, or your liability to your customers.
18.2 We will tell you promptly about any claim, and you will cooperate with us in handling it.
19. Force majeure
19.1 A Force Majeure Event is an event beyond a party’s reasonable control, including natural disaster, war, terrorism, pandemic, strike, sanctions, government action and failure of utilities, networks or banking systems.
19.2 The affected party must notify the other in writing within 7 calendar days. Its obligations are suspended while the event lasts, and it is not liable for non-performance caused by it.
19.3 If a Force Majeure Event lasts more than 60 days, either party may terminate the agreement by written notice.
20. Term, suspension and termination
20.1 The agreement continues until terminated. You may terminate it at any time by notifying us. We verify the request and confirm it by email.
20.2 We may terminate the agreement for any reason on written notice. Where the law, risk or security concerns do not allow notice, we may terminate without it.
20.3 We may suspend the services if you materially breach the agreement, if the risk you pose is unacceptable, if you provide false information, or if we suspect fraud or a security problem. We will tell you where possible and restore the services once the issue is resolved.
20.4 If we terminate for fraud or prohibited activity, an account closure fee under the Fee Schedule applies. We deduct it from funds we hold and may do so up to 6 months after termination.
20.5 On termination you remain liable for accrued fees and lose access to your Account, and we disable payment links. Pending Transactions are cancelled, Transactions in progress are completed, and we pay the remaining balance to your Settlement Account after deductions.
20.6 We pay no compensation for termination or suspension. Clauses that by their nature should continue, including those on fees, liability, indemnification, confidentiality and governing law, survive termination.
20.7 We will report major operational or security incidents that affect you as soon as possible.
21. Service disputes and complaints
21.1 You must resolve customer enquiries that we pass to you within 3 Business Days.
21.2 Send Service Disputes to info@platinopayments.com. We aim to acknowledge them within 7 calendar days and to give our decision within 14 calendar days.
21.3 Send other complaints to info@platinopayments.com. We acknowledge them within 7 days and respond within 15 Business Days.
21.4 If we make an error in processing a Transaction, we may debit or credit your Account to correct it.
21.5 We may set additional terms for certain payment methods or devices and may exclude categories such as gaming and payments in cryptocurrency or virtual currency.
22. Governing law and dispute resolution
22.1 The agreement and any dispute arising from it are governed by the law of the jurisdiction in which Platino is registered.
22.2 The courts of that jurisdiction have exclusive jurisdiction over disputes that are not resolved through the procedure in clause 21.
22.3 Before starting proceedings, the parties will try in good faith to settle the dispute through negotiation for at least 30 days.
23. Notices and communications
23.1 The agreement is in English. If a translation conflicts with the English version, the English version prevails.
23.2 We may communicate with you electronically, by posting on the website or dashboard or by email to the address in your application. These communications count as written notices.
23.3 You must keep your own records of the agreement and of all notices.
23.4 A notice sent by email is treated as received on the next Business Day after it is sent.
24. General provisions
24.1 Nothing in the agreement creates a partnership, agency or joint venture between the parties.
24.2 You may not assign or transfer your rights or obligations without our written consent. We may assign ours to an affiliate or to a successor to our business.
24.3 A waiver is effective only if given in writing. If we do not enforce a right, we do not waive it.
24.4 If a provision is invalid or unenforceable, the rest of the agreement continues, and the provision is read so as to reflect the original intent as closely as possible.
24.5 Only the parties, and those entitled to indemnity under clause 18, may enforce the agreement.
24.6 The agreement, together with the Policies and the Fee Schedule, is the entire agreement between the parties and replaces all earlier arrangements. We may amend the agreement as these Terms allow; any other amendment must be in writing and signed by both parties.
24.7 Questions about these Terms: info@platinopayments.com.