• This Midpaay Payment Policy outlines the terms and conditions governing the use of Midpaay services for secure financial transactions between buyers and sellers. It is designed to protect both parties by ensuring that funds are safely held in an Midpaay account until all agreed-upon terms of the transaction are met.
  • 1. Introduction
  • Midpaay services act as a neutral third party, holding funds on behalf of the buyer and seller until the transaction is successfully completed. This policy applies to all users utilizing Midpaay services for transactions and must be followed to ensure smooth and secure payments.
  • 2. How Midpaay Works
  • Agreement Setup: Both parties (buyer and seller) agree to the terms of the transaction, including the conditions for releasing the funds.
  • Deposit: The buyer deposits the payment into the Midpaay  account managed by the Midpaay service provider.
  • Verification: The Midpaay service verifies the payment and notifies the seller that funds are securely held.
  • Delivery of Goods or Services: The seller provides the agreed-upon goods, services, or assets to the buyer.
  • Buyer Approval: The buyer inspects the delivered goods or services and confirms satisfaction with the transaction.
  • Release of Funds: Upon buyer approval, the Midpaay service releases the funds to the seller.
  • 3. Roles and Responsibilities
  • Buyer Responsibilities: The buyer must deposit the agreed funds into the Midpaay account on time and confirm receipt and satisfaction with the goods or services within the agreed timeframe.
  • Seller Responsibilities: The seller must fulfill the agreed-upon terms (e.g., delivery of goods, services, or assets) as specified in the transaction agreement.
  • Midpaay Provider Responsibilities: The Midpaay provider holds the funds securely, monitors the progress of the transaction, and releases the funds only when both parties fulfill the transaction terms.
  • 4. Payment Process
  • Deposits: All payments must be deposited into the Midpaay account before the seller initiates any work or delivery.
  • Payment Methods: Payments can be made through various methods such as bank transfers, credit cards, or other online payment gateways supported by the Midpaay provider.
  • Currency: All transactions must be conducted in the currency agreed upon by both parties, unless otherwise specified.
  • 5. Fees
  • Fee Responsibility: In most cases, fees may be shared between both parties or paid by either the buyer or seller as per the agreement.
  • 6. Dispute Resolution
  • Dispute Filing: In the event of a disagreement, either party may file a dispute with the Midpaay service provider.
  • Investigation: The Midpaay provider will review the evidence and communication between both parties to resolve the dispute.
  • Outcome: Funds will remain in Midpaay until the dispute is resolved. The Midpaay provider’s decision is final and binding based on the evidence provided.
  • 7. Refunds
  • Buyer Refunds: If the transaction is not completed or if the buyer is not satisfied with the delivered goods or services, they may request a refund. Refunds are only processed after a thorough review by the Midpaay provider.
  • Partial Refunds: In cases where partial goods or services have been delivered, the Midpaay provider may release part of the funds and return the remaining to the buyer, as agreed upon in the resolution.
  • 8. Transaction Cancellation
  • Mutual Agreement: If both parties agree to cancel the transaction before the completion of the process, the buyer may receive a refund minus any applicable Midpaay service fees.
  • Non-Delivery: If the seller fails to deliver the agreed goods or services within the stipulated timeframe, the buyer may cancel the transaction and request a refund.
  • 9. Fraud Prevention
  • Midpaay services are designed to prevent fraud by ensuring that neither the buyer nor seller has access to the funds until the transaction terms are fulfilled. Any attempts at fraudulent activity will be reported, and legal action may be taken.

  • Midpaay services act as a neutral third party, holding funds on behalf of the buyer and seller until the transaction is successfully completed. This policy applies to all users utilizing Midpaay services for transactions and must be followed to ensure smooth and secure payments.