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Online Payment Agreement

Online Payment Agreement Template for India

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Key Requirements PROMPT example:

Online Payment Agreement

"I need an Online Payment Agreement for my e-commerce marketplace launching in March 2025, which will process both domestic and international payments using multiple payment gateways, with specific emphasis on recurring subscription payments and fraud prevention measures."

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Document background
The Online Payment Agreement serves as a crucial legal framework for businesses operating in India's growing digital economy. This document is essential when establishing a formal relationship between payment service providers and merchants who wish to accept online payments through various digital payment methods. It addresses key aspects required by Indian regulators, particularly the Reserve Bank of India's guidelines for payment aggregators and gateways, while incorporating necessary compliance elements from the Information Technology Act and Payment and Settlement Systems Act. The agreement typically covers technical integration requirements, security protocols, fee structures, settlement terms, and risk allocation, making it suitable for businesses ranging from e-commerce platforms to digital service providers. It's designed to protect both parties while ensuring regulatory compliance in India's evolving digital payments landscape.
Suggested Sections

1. Parties: Identification of the payment service provider and the merchant/business entity, including registration details and regulatory licenses

2. Background: Context of the agreement, business relationship, and intended payment services

3. Definitions: Detailed definitions of technical terms, payment-related terminology, and key concepts used in the agreement

4. Scope of Services: Detailed description of payment processing services, supported payment methods, and service levels

5. Technical Integration: Requirements for API integration, security protocols, and technical specifications

6. Service Fees and Charges: Fee structure, payment terms, and settlement timeline

7. Security Requirements: Data security obligations, PCI-DSS compliance, encryption standards

8. KYC and Compliance: Know Your Customer requirements, anti-money laundering procedures, and regulatory compliance obligations

9. Representations and Warranties: Legal assurances from both parties regarding capacity, authority, and compliance

10. Liability and Indemnification: Allocation of risks, limitation of liability, and indemnification obligations

11. Term and Termination: Duration of agreement, renewal terms, and termination rights

12. Dispute Resolution: Process for handling disputes, jurisdiction, and governing law

13. Confidentiality: Protection of confidential information and trade secrets

14. Force Majeure: Provisions for unforeseen circumstances affecting service delivery

15. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment

Optional Sections

1. International Transactions: Additional terms for cross-border payments and currency conversion - include if merchant accepts international payments

2. Recurring Payments: Specific terms for subscription or recurring payment processing - include if offering recurring payment services

3. Refund and Chargeback Handling: Detailed procedures for processing refunds and managing chargebacks - include if these services are offered

4. Settlement Currency Options: Terms for multiple currency settlement options - include if offering multi-currency settlement

5. Value Added Services: Terms for additional services like fraud detection, analytics - include if offering premium services

6. White Label Services: Terms for white-labeled payment solutions - include if offering white label options

7. Payment Gateway Integration: Specific terms for third-party payment gateway integration - include if using external payment gateways

Suggested Schedules

1. Schedule A - Fee Structure: Detailed breakdown of all fees, charges, and commission rates

2. Schedule B - Technical Specifications: API documentation, integration requirements, and technical protocols

3. Schedule C - Service Level Agreement: Performance metrics, uptime guarantees, and support response times

4. Schedule D - Security Standards: Detailed security requirements, compliance standards, and certification requirements

5. Schedule E - Supported Payment Methods: List of supported payment methods and associated terms

6. Appendix 1 - KYC Documentation Requirements: List of required KYC documents and verification procedures

7. Appendix 2 - Dispute Resolution Procedures: Detailed procedures for handling different types of disputes and chargebacks

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions







































Clauses



































Relevant Industries

E-commerce

Retail

Financial Services

Technology

Healthcare

Education

Travel and Hospitality

Digital Services

Telecommunications

Professional Services

Software as a Service

Online Gaming

Digital Entertainment

Non-profit Organizations

Relevant Teams

Legal

Finance

Information Technology

Compliance

Risk Management

Operations

Business Development

Product Management

Information Security

Treasury

Technical Architecture

Digital Solutions

Customer Support

Integration

Relevant Roles

Chief Technology Officer

Chief Financial Officer

Head of E-commerce

Digital Payments Manager

Legal Counsel

Compliance Officer

Risk Manager

IT Security Manager

Operations Director

Business Development Manager

Integration Specialist

Finance Controller

Treasury Manager

Product Manager - Payments

Technical Architecture Lead

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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