Merchant Terms

These are the terms under which Kuentoo B.V. provides payment acceptance, settlement and payouts. They form part of every quote and Merchant Agreement; the exact version you accepted is printed on your signed quote and shown in the Merchant Portal under Agreements.

1. Parties and scope

These Merchant Terms ("Terms") form part of every Kuentoo quote and Merchant Agreement between Kuentoo B.V., Kaya C.E.B. Hellmund 6, Kralendijk, Bonaire, Caribbean Netherlands, Chamber of Commerce Bonaire 13506, CRIB 310011553 ("Kuentoo", "we") and the business named in the quote ("Merchant", "you"). By signing a quote, the Merchant accepts these Terms. If a signed quote and these Terms conflict, the quote prevails for the fees, payout schedule and reserve it states; these Terms prevail for everything else.

2. What Kuentoo provides

Kuentoo is a payment facilitator. We give the Merchant one account to accept card payments, wallet payments and local payment methods in-store, online and through payment links, and we pay the collected funds out to the Merchant's bank account after deducting the agreed fees. Card authorisation, capture and the storage of card data are performed on a PCI DSS Level 1 certified platform operated by our licensed acquiring partner. The Merchant is a sub-merchant of that acquiring partner and agrees to comply with the card scheme rules (Visa, Mastercard, American Express) as they apply to sub-merchants.

3. Onboarding and verification

Before the account goes live, the Merchant supplies the information Kuentoo requests: legal entity, registration and tax numbers, identity of the directors and ultimate beneficial owners, the nature of the business, expected volumes and the bank account for payouts. Kuentoo may verify this information with third parties and may decline or close an account without stating reasons where required by law, scheme rules or our acquiring partner. The Merchant informs Kuentoo within 5 working days of any change in ownership, directors, business activity, trading name, address or bank account.

4. Fees

The fees are those stated in the signed quote: a percentage and/or fixed amount per transaction, per payment method and channel, and any monthly, terminal, chargeback or other fees listed there. Fees are quoted exclusive of ABB (Bonaire general expenditure tax) or other applicable turnover tax, which is added at the statutory rate on the monthly fee invoice. Fees are deducted from collected funds before payout. Kuentoo may change fees with 30 days' written notice; a change caused by a card scheme, acquirer or regulator may take effect on the date it takes effect for Kuentoo, with notice as soon as practicable.

5. Settlement, payouts and statements

Collected funds are recorded per transaction in the Merchant's ledger, visible in the Merchant Portal. Payouts are made to the verified bank account on the schedule stated in the quote, after deduction of fees, refunds, chargebacks, chargeback fees and any reserve. Kuentoo may delay or withhold a payout where it reasonably suspects fraud, a breach of these Terms or scheme rules, an unusual pattern of chargebacks or refunds, or where required by law or the acquiring partner, and will inform the Merchant of the reason where legally permitted. A monthly statement with a numbered fee invoice is issued in the Portal; objections must be raised within 30 days of the statement date.

6. Rolling reserve

Where the quote states a rolling reserve, Kuentoo retains that percentage of each day's collected funds for the number of days stated and releases it automatically thereafter. Kuentoo may introduce, increase or extend a reserve with written notice where the Merchant's chargeback or refund ratio, business type or financial position materially changes. Reserve balances are shown in the Portal and are released on termination once all chargeback windows have closed.

7. Refunds and chargebacks

The Merchant issues refunds through the Portal or API; a refund can only be made to the original payment method and up to the original amount. The Merchant is liable for every chargeback on its transactions, including the chargeback fee stated in the quote, regardless of the outcome of the dispute. Kuentoo notifies the Merchant of each chargeback in the Portal with the evidence deadline; the Merchant supplies evidence before that deadline and Kuentoo submits it on the Merchant's behalf. Amounts owed for refunds and chargebacks are deducted from the next payout or reserve; if these are insufficient, the Merchant pays the balance within 14 days of invoice.

8. Merchant obligations

The Merchant: (a) only accepts payments for the goods and services described at onboarding and delivered by the Merchant itself; (b) displays its trading name, contact details, prices, delivery and refund policy clearly to its customers; (c) does not set minimum amounts, surcharges or conditions that the card scheme rules prohibit; (d) keeps its Portal credentials, API keys and terminals secure and tells Kuentoo immediately of any suspected compromise; (e) does not store card numbers, CVC codes or PINs in any form; (f) complies with all laws applicable to its business, including anti-money-laundering, sanctions, consumer and tax law; (g) cooperates with reasonable requests for information from Kuentoo, the acquiring partner, the card schemes or a regulator.

9. Prohibited business

Kuentoo does not process payments for, among others: illegal goods or services; adult content; gambling or lotteries without a licence; sale of tobacco, vaping products, weapons or drugs; unlicensed financial, investment, crypto-asset or money-transfer services; multi-level marketing; counterfeit goods; or any activity prohibited by the card schemes or the acquiring partner. The full list is available on request and may be updated. Processing for a prohibited business is a material breach and grounds for immediate termination.

10. Data protection and security

Kuentoo processes personal data of the Merchant's customers as a processor on the Merchant's behalf for the purpose of executing payments, and as an independent controller for fraud prevention, dispute handling and legal compliance. Kuentoo's Privacy Policy at kuentoo.com/privacy describes this in detail. Kuentoo applies bank-grade encryption, mandatory two-factor authentication on all accounts, signed webhooks and nightly encrypted backups, and keeps an audit trail of all account actions. The Merchant remains responsible for the security of its own systems and for obtaining any consent its customers' data requires.

11. Availability and support

Kuentoo aims for continuous availability of the Portal, the API and the payment page and publishes its live status at kuentoo.com/status. Planned maintenance is announced in advance where possible. Support is available by e-mail at support@kuentoo.com and by phone at +599 786 9464 during opening hours; live merchants receive a response within four hours during opening hours. Kuentoo does not guarantee uninterrupted availability of services provided by third parties, including card schemes, banks and the acquiring partner.

12. Term and termination

The Merchant Agreement starts on the date the quote is countersigned and runs for an indefinite period. Either party may terminate with one month's written notice. Kuentoo may terminate or suspend immediately if the Merchant breaches these Terms or scheme rules, becomes insolvent, ceases trading, provides false information, or if the acquiring partner or a card scheme requires it. On termination, Kuentoo completes payment of collected funds after deducting fees, refunds, chargebacks and any reserve, which is released once the applicable chargeback periods (up to 180 days) have expired.

13. Liability

Kuentoo is liable only for direct damage caused by its own gross negligence or wilful misconduct, up to the total fees paid by the Merchant in the six months preceding the event. Kuentoo is not liable for indirect or consequential damage, loss of profit, loss of data, or damage caused by third parties including card schemes, banks, telecommunications providers or the acquiring partner, nor for chargebacks, fraud or refunds on the Merchant's transactions. The Merchant indemnifies Kuentoo against claims by third parties, fines by card schemes or regulators and costs arising from the Merchant's breach of these Terms, scheme rules or applicable law. Nothing in these Terms limits liability that cannot be limited by law.

14. Changes to these Terms

Kuentoo may change these Terms with at least 30 days' notice by e-mail and in the Portal, stating the new version number. Continued use of the services after the effective date constitutes acceptance. If the Merchant does not accept a change, it may terminate before the effective date without notice period.

15. Governing law and disputes

These Terms and every Merchant Agreement are governed by the law applicable in Bonaire, Caribbean Netherlands. Disputes are submitted to the competent court of the Caribbean Netherlands, Bonaire location, after the parties have first tried in good faith to resolve the matter within 30 days. These Terms are drawn up in English; translations are provided for convenience only.

Questions about these Terms: info@kuentoo.com. See also the Terms of Use of the website and our Privacy Policy.