Payment Aggregation Services Clause Samples
The Payment Aggregation Services clause defines the terms under which a service provider collects and processes payments on behalf of multiple merchants or clients. Typically, this clause outlines the responsibilities of the aggregator, such as receiving funds from customers, distributing payments to the appropriate parties, and ensuring compliance with relevant financial regulations. By establishing clear procedures and obligations, the clause helps streamline payment flows and reduces administrative burdens for merchants, while also mitigating risks related to fund handling and regulatory compliance.
Payment Aggregation Services. You agree that the fees shall be charged according to the manner, rates and frequency determined by ▇▇▇▇▇▇▇▇. Razorpay reserves the right to update the amount of the Fees including for Services for which no charge has been levied previously in accordance with this clause. You agree that You shall be liable to pay any additional fees as determined by Razorpay in the event:
(a) You avail certain value-added services available on the dashboard irrespective of whether they have been available free of charge previously.
(b) You avail any new Services not mentioned in these Terms. You agree that Your use of any Service or a value-added service shall be construed as a consent to any additional fees which may be levied by Razorpay on such additional Service or value-added service.