Trendzz Payments allows buyers and sellers to use various forms of payment on www.Trendzz.store and the mobile application of Trendzz. The users of Trendzz Payments can pay or accept payments through debit card, credit card, Trendzz Gift Card, Trendzz Credit, Trendzz Coupon, PayPal (where available), Apple Pay, Google Pay. This policy explains all of your rights and obligation while using Trendzz Payments.
This policy is a crucial part of our Terms of Use. By using Trendzz Payments, you agree to these policies and Terms of Use.
The Trendzz Payments Policy is about your rights and responsibilities when you use Trendzz Payments for any of Trendzz's services. In this policy, our website, mobile application, and all other services will be referred as Services. By using Trendzz's services, you agree to the payment and all other policies.
The policy is a legal contract between the user (you) and Trendzz.
Trendzz allows sellers to take payments through credit and debit cards, Paypal services wherever they are available, transactions through Apple Pay and Google Pay. These transactions are credited into the seller's Payment account with Trendzz and then deposited into the seller's authorized bank account. Trendzz has the authority to remove or add payment methods in Trendzz Payments services. We are only obliged to notify the seller about the changes where required by law.
Trendzz Payments is only accessible to sellers whose age is 18 years or older and have an approved Trendzz Payments account.
Sellers are expected to use Trendzz Payments only for the sale of items that are listed on Trendzz's services. Seller also is bound to dispatch the product once the payment has been cleared and can be seen in their payment account. If a seller is found using Trendzz Payments for any other use and personal gain apart from selling at Trendzz services, Trendzz has the right to terminate the seller's Payments account or restrict his or her access to the account.
Buyers can purchase items from Trendzz's services by using any major credit or debit card that is accepted by Trendzz, Trendzz gift card, coupon or credit cards (only if they are acceptable and applicable), PayPal (subject to its access to different areas), Apple Pay and Google Pay. See Trendzz Gift Card, Coupons, and Credit Cards Policy.
Trendzz utilizes the services of third-party service providers to facilitate buyers and sellers in making payments, processing funds, currency exchange, identity verification, assessment of fraudulent processes, card processing, and other significant regulatory compliances.
Trendzz partners with Braintree and Hyperwallet and other licensed payment providers for services relating to card payments or paying the funds to sellers. The processing time and the type of third-party service you can use will depend on your location. If our provider finds your account has insufficient funds upon processing of purchase, Trendzz has the right to contact you directly to seek payment.
For managing payment processing, Trendzz may share your personal or transactional information with third-party service providers.
Trendzz gift cards, credit, and coupons are subject to Trendzz Gift Card, Coupons, and Credit Cards Policy.
By using a third-party service provider, you will also be agreeing to their policies. For example, using PayPal, which is an independent third-party transactional service provider by PayPal Holdings, Inc. and is subject to PayPal User Agreement. Apple Pay is a third-party service provider provided by Apple Inc. and is subject to Apple Pay Terms and Conditions. Google Pay is a third-party service provided by Google Payment Corp. and is subject to the Google Pay Terms of Service for users. Hyperwallet and Braintree are the services by PayPal that are used at Trendzz so, their terms of service also are agreed upon if you take part in any service of Trendzz.
If it comes to Trendzz's attention or we are notified about your store not following the policies of third-party service providers, we have the right to take action against you and your account and ensure that you comply with the service provider's policies. The actions include terminating the selling rights of your store, changing payment methods, canceling the transaction, among others.
We have the right to change, give access or disable Trendzz's Payment service at any time without notifying priorly. These Payments services are subject to Trendzz's Terms of Use.
As part of our security strategy, we have set transaction limits for both buyers and sellers. For example, we may set a limit of the maximum amount an order can be purchased or sold. We may also impose a limit on the total amount of transactions done during a given period of time. Trendzz will not be liable to a seller if we do not proceed with any kind of transaction, including deposit or adjustments if it crosses the limit set by us. We will also not be liable to the seller if we allow the buyer to withdraw from any purchase or transaction.
Trendzz also has the right to refuse the use of its Payment Services to anyone at any time for any reason.
If we feel that the transaction is a high risk, fraudulent, violates either the trade sanctions or simply the Trendzz's Terms of Use, we have the right to decline that payment.
Trendzz may provide limited payment protection to sellers in case a buyer purchases products with an unauthorized or stolen credit card. You can learn more about our Seller Protection Program here.
Trendzz keeps the records of transactions linked with Trendzz Payments. Any form of secured data is not transferred to sellers. Information like credit card numbers, bank account details are considered secured data. Sellers are only given information that is necessary for them to complete the order. Delivery address and a limited amount of buyer's account information are only provided to the seller. Privacy Policy of Trendzz tells how we manage user information.
Trendzz will notify you about your use of our Payment services per our Electronic Communications Policy.
Each seller appoints Trendzz as a temporary holding, settling, and receiving party of their payments. The payments that are received by Trendzz will be settled to sellers. Seller agrees that if a buyer pays Trendzz on behalf of the seller, the buyer's responsibility to pay for the product being purchased is fulfilled. Now it is up to Trendzz that we settle the payment with the seller or not. If Trendzz does not settle with the seller, the seller has no right to claim it from the buyer but can only recourse it against Trendzz.
Funds from successful transactions will be displayed in the seller's payment account. Once the payments are either approved by Trendzz or our Fraud Analysis Service provider, the transactions are then marked complete. Any refunds, adjustments, or payments received since the last payment day, all these pieces of information are updated in the seller's payment account and can be displayed for their convenience.
Funds that can be viewed in the seller's payment account are the available funds and can be deposited into the seller's bank account. The conditions of the Reserve, hold and deposit delay as described in section B (Reserves, Holds, and Delays) must be met before the money can actually be withdrawn from the bank account or otherwise mentioned by the seller's bank.
If you want to deposit less than the threshold limit set, then a deposit fee will apply to it. Section 9 covers details of the deposit fee. A minimum limit of the deposit is also applicable in different markets. Funds can only be deposited if they exceed the minimum limit set for the deposit.
In order to protect the Trendzz service users and Trendzz, we may take certain account and transactional level actions to minimize risk and maintain the integrity of our marketplace. The decisions about reserves, hold, and deposits resonate with the seller's ability to fulfill consistent orders by following all the policies of Trendzz. These criteria are crucial for the safety of our users and also for our risk management. Trendzz has the right to use reserves, holds, and deposits towards your account in any way we wish to.
Reserves.A reserve is an amount kept in your account which is set for pending settlements. We place a reserve on your account if we consider your actions, your transactions, your account, or your business model a financial risk to us.
When a reserve is applied to your payment account, it means that a certain percentage of your money will be held as a reserve for a limited period of time and will not be available for you to deposit in your bank just as the available funds can be. The reserve percentage is the amount from your account that you cannot disburse. The percentage of the Reserve is calculated by the risk level that your activities can bring for Trendzz, and it helps in creating a threshold amount that is applied to your payment account while you are in the reserve state.
Threshold amount applicable to your account
The threshold amount is the number of mandatory funds for you to keep in your Payment account while being in Reserve before being able to disburse your money. It is also called the threshold reserve amount. It will maintain the reserve percentage for your payment account. So it can increase or decrease corresponding to the latest activity in your payment accounts like sales, refunds, and chargebacks, and the reserved amount released back to you. The Threshold Reserve Amount will also determine the funds that are available funds and can be disbursed in your bank account and the funds which are to be restricted in your Trendzz Payment Account during your Reserve period. Funds that are more than the reserved amount are available for you to disburse in your bank account. Funds below the Threshold Reserve Amount are considered as a reserve and cannot be disbursed until the period of Reserve completes. If your reserve fund falls below the threshold reserve amount because of any charges, then funds from your next sales will be utilized to compensate for the funds being lesser than the Threshold Reserve Amount. You can view the funds available for disbursing and the funds retained as Reserve in your Payment Account. Reserve funds are kept to spend on expenses like chargebacks, refunds, and seller fees where Available funds are not utilized. The amount of funds left after spending on all of these expenses is released to be disbursed after the given time period. If a buyer opens a case against you and you don’t have enough available funds, then your reserve funds will not be released for you to disburse. Trendzz utilizes a different set of criteria to assess the numbers of reserve funds necessary for your payment account. A few are mentioned below:
Types of Account Reserves:
A fixed reserve is a percentage of funds from your payment account at the time Reserve is placed on your account, which is to be held for a specific period of time. Both the percentage and the period of time differ for every case. Once the Reserve is applied to your account, the same percentage is held as Reserve from every sale you made. These funds will be utilized where chargebacks, refunds, and seller fee payments are due. Reserve funds are only released on a rolling basis after the Reserve period is passed, and if no other case by a buyer has started during the Reserve time. The funds above the threshold reserve can be disbursed by the seller as described in section 7A.
For example, your Reserve is set at 30% for a period of 45 days. This means if you made a sale on day 1, 30% of the funds you made from that sale would be held in Reserve and be available for disbursing on the 46th day. Similarly, if you made a sale on the 4th day, 30% of the funds will be held in Reserve and will be made available on 49th day. If during the reserve period a chargeback, refund, or seller fee requires funds and your available funds are not enough, then the reserve funds will be utilized. A variable reserve is a percentage of the seller’s payment account balance determined by Trendzz’s risk assessment team. A variable reserve percentage of a seller’s payment account balance (i) delayed before including it in the available funds for up to 180 days, (ii) deducted from seller’s payment account as a reserve for a period of 90 days. It can be placed in addition to the Fixed Reserve placed on a seller’s payment account. Account reserves are placed on a case-to-case basis and are reviewed from time to time.
If the risk factors change and the risk assessment done by Trendzz’s risk management team suggests the same about the seller, then Trendzz can decrease the reserve percentage or completely remove it at their own discretion. It is also possible if the seller’s performance goes positive by reducing the number of cases against his store or improving the fulfillment rate of buyers. Trendzz also has the authority and the right to increase the reserve percentage or reserve time period by reviewing the seller’s account as per the factors listed above. If the reserve conditions are changed due to risk assessment, then we will notify you about it.
Holds and Delays. In some cases, there can be a delay in the transfer of payments to the seller’s payment account due to some issue at Trendzz, our third-party service provider, or a seller’s bank. We’ll do our best to sort the matter out and communicate with the affected seller.
If we believe that the actions of a seller may result in disputes with buyers, bring cases, cashback, and refunds, increase the risk of fraud and counterfeiting, then we have the right to hold and delay on seller’s payment account balance along with applying reserves on it.
We also strive towards minimizing and avoiding delays. Please keep it in mind that Trendzz is not responsible for reimbursing the expenses or refunding any fee during the time period of holding and delayed deposits.
Overview. Trendzz charges a Payment Processing Fee for processing transactions through Trendzz Payments. This fee is calculated as per the gross order amount, which includes delivery charges and taxes as well (if applicable). This fee will be visible in your Trendzz payment account and will be deducted when the payment is marked complete. Trendzz has the right to modify the Payment Processing Fee at our own free will. If your payments are below the minimum threshold, this fee will be payable by you. This fee is deducted from your Available Funds at the time of the deposit. If a buyer is credited in full or partial return, then the processing fee is recalculated according to the readjusted sale price. The difference between the original and the adjusted payment processing fee is applied to the refund fund credited back to the seller. Other applicable fees and the deposit fee (if the deposit is returned to the seller’s account) will be refunded to the seller’s payment account.
Internal Revenue Service regulations require that we file a Form 10099-K and report any unadjusted annual gross sales information regarding sellers in the US or getting paid in USD.
If a seller exceeds 150 sales from his or her store regardless of their volume, he or she has to provide his taxpayer-identification information to Trendzz. This ensures that sellers comply with all the terms.
Sellers can terminate this contract and the use of their Trendzz Payments by changing the settings in their Trendzz account. Trendzz can also terminate the seller rights of using Trendzz Payments.
After termination, the funds that are part of no dispute will be made available to the seller by transferring them to his or her bank account. Once you terminate your account, Trendzz has the right to determine an amount and withhold it to cover any possible cashback, refund, or any other form of financial adjustments that the buyer claims to get from the seller's payment account for a period of 180 days. After this time period, we will disburse the payment left in seller’s payment account to his or her bank account.