Payment contract for the acceptance of TWINT
This contract governs the payment services offered by TWINT Acquiring AG (hereinafter referred to as “TWINT”) and shall be concluded between the contracting party and TWINT. Should specific additional services be required, a separate agreement must be concluded.
Within the framework of this contract, TWINT authorises the contracting party to accept TWINT as a cashless payment method for its point-of-sale and distance transactions and shall ensure the processing of all transactions generated by the payment system. TWINT possesses the requisite authorisation to do so from the TWINT licensor.
This contract shall be supplemented by the relevant current versions of the General Terms and Conditions for the Acceptance of TWINT (hereinafter referred to as “GTC”). The GTC forms an integral part of this contract. The GTC can be viewed at www.twint.ch at all times.
Prices, payment and contract term
| Prices and fees | The prices for the processing of transactions via the TWINT payment system as well as the other fees are listed in the current version of the schedule of prices and services. TWINT may amend the schedule of prices and services and the prices and fees listed therein in accordance with Section 14 of the GTC |
| Processing period | TWINT shall endeavour to process transactions within two days. |
| Settlement (payout) | Processed transactions are generally paid out collectively once a week. Alternatively, the contractual partner can request daily payment in the merchant portal. |
| Bank working days | The processing period refers to bank working days, i.e. Saturdays, Sundays and public holidays are not counted and payments are not made on these days. |
| Deferral of payment | TWINT may defer payments for a period of up to 30 days on the basis of an internal risk assessment. This shall be subject to further provisions in the GTC, particularly in the event of fraud. |
| Settlement of the transaction prices and fees | In accordance with business principles, all transaction prices in each individual transaction are rounded to the nearest centime, added up and deducted from the payment amount for the transaction together with any fees incurred (net settlement). |
| Contract term and termination | The contract shall be concluded for an indefinite period of time. The contract may be terminated by either party subject to a notice period of one month to the end of the calendar month. TWINT reserves the right to terminate this contract extraordinarily in accordance with the GTC. |