Developing Terms and Conditions for Push Payments

Merchants must provide the terms and conditions for their service. It is strongly recommended that merchants prompt senders to accept the terms and conditions prior to sending any transactions (through a click to accept check box or similar) and retain evidence of such consent.


A Merchant's terms and conditions should clearly address policies and procedures for handling disputes and exceptions.

The terms and conditions provided to customers should include, but not be limited to, the topics described in this table.

Product/Service Description- Merchants should provide clear description and details of product/service functionality and features.
Security of PINs and Passwords- To prevent account takeover scenarios, customers should protect PINs and passwords.
- Merchants should provide customers with customer service contacts should the security of PINs/passwords be compromised.
Limits- Right of the merchant and/or its partners to apply maximum transaction and/or volume limits
- Details of limits
Fees/Charges- Sender agrees to pay fees (set out in transaction fee schedules) - Fees may include service fees, cancellation fees, fees for returns and refunds, and foreign exchange fees
- Sender should be aware that the issuer may charge fees to the recipient, in accordance with the Cardholder agreements.
Use- Who can participate
- Whether the service is domestic, cross-border, or both and, where applicable, which currencies are supported on cross-border transactions
- How the transaction may be funded (e.g., cash, bank account, debit/prepaid/credit card)
- What channels are supported (e.g., Internet, kiosk, ATM, mobile), including any restrictions/terms of service
- Right of refusal (e.g., the merchant may refuse to accept the funding source without reason or explanation)
- How the sender will be informed if a funds transfer is not possible and what this means to the sender’s account
- P2P Money Transfers are not to be used by merchants as a replacement for purchase transactions.
Sending Funds- The sender will not send funds for illegal, unlawful, or fraudulent activity.
- The sender is wholly responsible for providing the correct payment credential of the recipient as well as the correct Money Transfer amount
Use of Sender’s and Recipient’s Personal Information- Personal information collected from a cardholder must only be used for activities related to the service.
- The following information can be requested from senders using a card to fund an instant push transaction for use in card and cardholder verification:
1. Cardholder address (for account verification check)
- Merchants are prohibited from storing the CVV2 information following authorization of a transaction. If card payment credential
and expiration date are stored, data must be stored in accordance with the PCI DSS.
Compliance- The merchant and/or its partners reserves the right at any time to block or reject transactions that would or may infringe on legal or regulatory requirements in either the sender’s or the recipient’s country
Liability- Merchant and sender liability associated with the transaction
- Merchant policies in the case of sender error (i.e., sender initiated the transaction to the wrong payment credential or sent the wrong amount)
Dispute Policies and Procedures- Clear dispute policies and procedures in case of a dispute
- Merchant customer service telephone number or an email address to contact in the event of a dispute
Funds Availability- Any delays in availability of funds
- Sender should contact the merchant if the recipient has not received funds within the specified time frame.
- Recipient should contact the issuer. If non-delivery of funds is due to cardholder limits, the cardholder can ask the issuer to adjust.
Contact Information- Merchants should provide relevant customer service information, such as phone numbers, website URLs, and/or an email address to the sender.