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Online Payment Agreement

Online Payment Agreement Template for Malaysia

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Key Requirements PROMPT example:

Online Payment Agreement

"I need an Online Payment Agreement for my Malaysian e-commerce startup that will process credit card payments and digital wallet transactions, with specific provisions for recurring payments and a transaction volume of up to 10,000 transactions per month."

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Document background
This Online Payment Agreement is essential for businesses operating in Malaysia's growing digital economy that need to process online payments securely and efficiently. The agreement is designed to comply with Malaysian legislation, including the Financial Services Act 2013, Payment Systems Act 2003, and Personal Data Protection Act 2010. It establishes the terms and conditions for online payment processing services, including transaction handling, security protocols, service levels, and compliance requirements. This document is particularly relevant for e-commerce businesses, digital service providers, and any organization accepting online payments in Malaysia, providing a structured framework for the relationship between payment service providers and merchants while ensuring regulatory compliance and risk management.
Suggested Sections

1. Parties: Identification of the payment service provider and merchant/client

2. Background: Context of the agreement and brief description of the online payment services

3. Definitions: Definitions of key terms used throughout the agreement

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

5. Service Provider Obligations: Key responsibilities and commitments of the payment service provider

6. Merchant Obligations: Key responsibilities and commitments of the merchant

7. Fees and Charges: Payment processing fees, transaction charges, and payment terms

8. Security Requirements: Security protocols, data protection measures, and compliance standards

9. Service Levels: Performance standards, availability requirements, and support services

10. Term and Termination: Duration of agreement, renewal terms, and termination conditions

11. Confidentiality: Protection of confidential information and trade secrets

12. Data Protection: Compliance with PDPA and data handling requirements

13. Representations and Warranties: Legal assurances provided by both parties

14. Liability and Indemnification: Limitation of liability and indemnification obligations

15. Dispute Resolution: Process for resolving disputes between parties

16. General Provisions: Standard legal provisions including governing law, notices, and amendments

Optional Sections

1. Integration Services: Technical integration requirements and support - include when provider offers integration services

2. Cross-Border Transactions: Additional terms for international payments - include for cross-border payment services

3. Recurring Payments: Terms for handling subscription and recurring payment processing - include if offering recurring payment features

4. Refund Policy: Specific terms for handling refunds and chargebacks - include if merchant requires custom refund handling

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

6. Currency Conversion: Terms for multi-currency transactions - include if supporting multiple currencies

7. Fraud Prevention Services: Additional fraud detection and prevention services - include if offering enhanced fraud protection

8. API License Terms: Terms for API usage and limitations - include if providing API access

Suggested Schedules

1. Schedule 1 - Pricing Schedule: Detailed breakdown of all fees, charges, and payment terms

2. Schedule 2 - Service Level Agreement: Detailed service levels, performance metrics, and support requirements

3. Schedule 3 - Technical Specifications: Technical requirements, API documentation, and integration guidelines

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

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

6. Appendix A - Form of Reports: Templates and formats for required reporting

7. Appendix B - Contact Information: Key contacts and escalation procedures

8. Appendix C - Compliance Checklist: Regulatory compliance requirements and certifications

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

Professional Services

Entertainment and Media

Telecommunications

Relevant Teams

Legal

Finance

Information Technology

Operations

Risk Management

Compliance

Treasury

E-commerce

Digital Payments

Information Security

Commercial

Customer Service

Relevant Roles

Chief Financial Officer

Finance Director

E-commerce Manager

Digital Payment Manager

Legal Counsel

Compliance Officer

Risk Manager

IT Director

Chief Technology Officer

Operations Manager

Commercial Director

Business Development Manager

Treasury Manager

Accounts Receivable Manager

Payment Operations Manager

Chief Information Security Officer

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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