Yayden Fees & Payments Policy

YaydenPay allows buyers and sellers to use various forms of payments on the Services (i.e., Yayden.com (the “Site”), any mobile apps (the “Apps”) that we may provide, and any other services provided by us). YaydenPay users may pay with and accept payment by credit card, debit card, some bank transfer services, PayPal, Apple Pay, and Android Pay--all in U.S. dollars—depending on which of these payment methods we make available at the time of the payment.


This policy is a part of our Terms of Use, and explains your rights and obligations when using YaydenPay. By using YaydenPay, you are agreeing to this policy and all of our other Terms of Use.


This policy is a legally binding contract between you and Yayden.

1. Overview

Generally, YaydenPay allows a seller to (a) accept payment, (b) have the funds credited to the seller’s payment account with Yayden, and (c) have those funds deposited into the seller’s designated bank account.


Every seller must be at least 18 years old and register and be approved for a YaydenPay payment account with Yayden.


Each seller may only use YaydenPay for the sale of items listed on the Services, and agrees to ship sold items once the payment transaction is completed and reflected in the seller’s payment account. Yayden reserves the right to terminate a seller’s access to YaydenPay if the seller violates this policy.


Each buyer may authorize a payment by credit card, debit card, some bank transfer services, PayPal, Apple Pay, and Android Pay--all in U.S. dollars—depending on which of these payment methods we make available at the time of the payment.

2. Third-Party Services

Yayden has engaged third-party service providers to perform many of the services related to payment processing, including card processing, currency exchange, identity verification, fraud analysis, regulatory compliance, and the disbursement of funds to sellers. By using a third-party service, you may also be subject to an agreement with the third-party. For example, PayPal is a third-party service that has been provided by PayPal Holdings, Inc. subject to a PayPal User Agreement. Apple Pay is a third-party service that has been provided by Apple Inc. subject to Apple Pay Terms and Conditions. Android Pay is a third-party service that has been provided by Google Payment Corp. subject to Android Pay Terms and Conditions for US Users. You agree that if we receive notice that your shop’s content or your activity violates a third party’s service agreement, we may, at our sole discretion, take action against your account to comply with that agreement, and our actions may include canceling a transaction, disabling listings from your shop, suspending your selling privileges, or removing certain payment methods. Further, payment processing times may vary. You agree that Yayden may share your personal or transactional information with those third-party service providers whenever, in our sole discretion, it is necessary to process your payment. You also agree that if there are insufficient funds in your bank account when our provider processes the payment for your purchase, Yayden may, at our discretion, contact you directly to seek payment.

STRIPE

YaydenPay supports Integrated Stripe, which allows a seller to receive funds from Stripe purchases directly into the seller’s YaydenPay payment account, without the need to manage a separate PayPal account. This means that if a buyer pays with Stripe, the funds from the order will be credited to a seller’s payment account along with other buyer’s orders. Although the standard YaydenPay Payment Processing Fee (described below) applies to orders that go through integrated Stripe; there is no additional PayPal fee.
YaydenPay does not accept standalone PayPal (whereby a seller would receive funds directly into the seller’s PayPal account).

PayPal

YaydenPay supports Integrated PayPal, which allows a seller to receive funds from PayPal purchases directly into the seller’s YaydenPay payment account, without the need to manage a separate PayPal account. This means that if a buyer pays with PayPal, the funds from the order will be credited to a seller’s payment account along with other buyer’s orders. Although the standard YaydenPay Payment Processing Fee (described below) applies to orders that go through integrated PayPal; there is no additional PayPal fee.
YaydenPay does not accept standalone PayPal (whereby a seller would receive funds directly into the seller’s PayPal account).

Monthly Installments

With monthly installments, sellers have the choice to allow their products to be purchased at 50% initially and to collect the remaining 50% a month later. Customers can elect for the monthly payment option or pay for the product in full. Customer hereby agrees to pay the the total value of the product with a full payment or within a 30 day span via two 50% payments for the respective product.

Products valued at $100 or more qualifies for the monthly installments. YAYDEN will not place any product on this plan unless permission is granted by the seller. Once an installment purchase is made, YAYDEN will send out a notification email to the buyer regarding this transaction and another 7 days before the deadline to collect the payment. A notification will be sent out every 7 days for collection if transaction is not completed. It is up to the seller and their policies on if the product will be shipped on the initial installment or final transaction. Their policies must state this in the product policy and profile policies.  

In the event the purchase of a product goes purchased with only one in stock, the product will go unlisted. This will not happen if the product has two or more in quantity. 

If customer's payments are late, the seller holds every right to withhold the product until the final payment is made. If the customer does not make the final payment, their interaction with YAYDEN platform will be limited. 

To upkeep the integrity of the YAYDEN installment plans, all cancellations and refund requests will be reviewed. YAYDEN is not obligated to approve a refund or cancellation. We live by this policy in order to keep our customers and honest for payments to be completed on time and not reward non-payment requests.

YAYDEN sellers hereby agrees to fulfill delivery of the purchased products via their policy to deliver on initial payment or via second payment. If the purchased product is damaged before delivery, the customers hold the right for a refund. The seller must keep the purchased item in mint condition until delivery on initial payment or final payment.

3. Yayden’s Rights and Responsibilities

YaydenPay functionality may be made available, modified, or discontinued by Yayden at any time, without notice

YaydenPay is subject to the limitations of Yayden’s Terms of Service.

As a security measure or for any other reason, Yayden may impose transaction limits on any buyers or seller. For example, we may limit the value of any transaction, deposit, or adjustment, or limit the cumulative value of all transactions, deposits, or adjustments during a period of time. We may also limit the number of transactions per day or other period of time. We will not be liable to a seller: (a) if we do not proceed with a transaction, deposit, or adjustment that would exceed any limit established by us, or (b) if we permit a buyer to withdraw from such a transaction.

Yayden may refuse service of YaydenPay to anyone, for any reason, at any time.

Yayden may decline transactions that we believe to be high risk, fraudulent, or in violation of any of the Terms of Use.

Yayden may maintains records associated with transactions on YaydenPay but will not pass secure data, including credit card numbers or bank account information, to sellers. Sellers will only receive shipping information and limited buyer account information necessary to complete their orders. Yayden’s Privacy Policy further explains how we handle user information.

We will send you any relevant notices regarding your use of YaydenPay in accordance with our Electronic Communications Policy.

4. Seller Rights and Responsibilities

A. Required Use of YaydenPay. Each seller is required to sign up for YaydenPay and provide valid account information for a corresponding bank account in the United States.

B. Payment Accounts. YaydenPay is only available to sellers who register and are approved for a payment account. A payment account allows sellers to track payment amounts, refunds, and fees related to transactions. Sellers must provide accurate personal information as requested during registration, and are responsible for maintaining and updating that information as necessary. Each sellers agrees that the seller will not impersonate anyone or use a name that the seller is not legally authorized to use. Each seller authorizes us, and our authorized agents, to verify the seller’s information (including any updated information) by accessing public records and obtaining credit reports about the seller in order to approve a payment account. Sellers also authorize us to verify the sellers’ information from time to time while the sellers are using YaydenPay.
Payment accounts are only available to individuals who are eligible to be sellers on the Services and who have a valid credit or debit card on file with us.

C. Disputes. Each seller agrees to resolve any disputes directly with the corresponding buyer or with the assistance of the dispute management and refund tools available on the Site, and in accordance with our Seller Policy and other Terms of Use. In the event that a dispute is escalated to our Support Team, we reserve the right to issue a refund to a buyer if a transaction is found to be in violation of our Seller Policy or our other Terms of Use.
In the event that a buyer submits a chargeback, we will respond to the credit card networks on behalf of the seller involved in the transaction; the seller agrees to provide any requested information to us within five calendar days of the request. We reserve the right to recoup funds associated with buyer chargebacks.

D. Communications. We will inform sellers of each transaction, or of other information pertaining to YaydenPay, using our standard communication procedures (provided in our Electronic Communications Policy).

E. Refunds. Refunds or adjustments paid by Yayden to buyers for payments made through YaydenPay may be initiated using the refund functionality in the seller's payment account. Any such funds paid by us to cover refunds will be deducted from the seller’s payment account balance. If there are insufficient funds to cover the amount of the refund, the balance will be charged to the seller’s credit card or added to the seller’s bill.
Fully refunded transactions may be eligible for cancellation in accordance with the Seller Policy.

F. International Trade Laws. You agree that your use of YaydenPay will not involve any countries, entities, individuals or items prohibited by sanctions, embargoes, regulations or orders administered by the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) or other government agencies.

5. Appointment of Yayden as Limited Collection Agent for Sellers

Each seller appoints Yayden as its agent for the limited purpose of receiving, holding and settling payments to that seller. Yayden will settle payments that are actually received by us to each seller, less any amounts owed to us and subject to this policy and the other Terms. Each seller agrees that a buyer payment received by Yayden, on behalf of the seller, satisfies the buyer's obligations to make payment to the seller, regardless of whether we actually settle such payment to the seller. If we do not settle any such payment as described in this policy, such seller will have recourse only against Yayden (and no recourse against the buyer).

6. Deposits

A. Payment Account. All funds resulting from a completed transaction will be reflected as a balance in the seller’s payment account. Transactions are considered complete once the payment is approved by Yayden or our fraud analysis service provider. Any refunds, adjustments, or other amounts paid to buyers in connection with purchases, or for funds received since the last payment day, are also applied to the seller’s payment account balance.
Funds in a payment account balance are eligible for deposit (the “Available Balance”) into a seller’s bank account at the end of any applicable deposit delay, reserve, or hold period as determined by the seller’s bank.

B. Country and Currency Options. Available Balances can only be deposited into bank accounts in the United States.

C. Scheduled Deposits. Yayden will instruct our payments partners to initiate a deposit of a seller’s Available Balance into the seller’s bank account on a daily, weekly, biweekly, or monthly basis. Sellers can select the frequency of disbursements from their payment account in their account settings. When a seller selects daily disbursements, disbursements will be made on each day that the seller's payment account has a balance equal to or greater than $25.00. When a seller selects weekly, biweekly, or monthly disbursements, disbursements will be made on every applicable Monday. In this policy we'll refer to the date of disbursement as the "Payment Date". Deposits into a seller’s bank account will generally be credited within three (3) to five (5) business days from the date Yayden initiates the deposit request. The actual timing of the deposit may depend on how quickly a seller’s bank processes the request.
If the scheduled Payment Date falls on a non-business day, the actual Payment Date will fall on the next business day (Monday through Friday, excluding bank holidays). If a seller elects to change the frequency of disbursements, the following deposit will be initiated on the next business day if the seller selects daily disbursements, or on the next applicable Monday if the seller selects weekly, biweekly, or monthly disbursements. When a seller either initially provides or later changes his or her bank account information, the seller must wait at least five (5) calendar days to request a deposit into a bank account. The next scheduled deposit after a change to bank account information will occur on the next applicable Payment Date after a period of five (5) calendar days from the date of the requested change.

D. Holds and Delays. In some cases, a deposit to a seller’s bank account could be temporarily delayed by an issue at Yayden, an issue at our third-party service providers, or an issue at the seller’s bank.

If we believe that a seller's actions may result in buyer disputes, chargebacks, or other claims, then we may, in our sole discretion, put (1) a hold, (2) a deposit delay, or (3) a reserve on the seller’s payment account balance.

We may put a hold on funds associated with a particular transaction if there is a dispute or investigation related to the order, for the shorter of: (a) 180 days after the estimated delivery date; or (b) completion of any investigation regarding the seller’s actions.

A deposit delay will be the number of days between a sale and the day the net amount from the sale becomes available for deposit, provided the payment has been completed. A deposit delay may be between 0 and 180 days. When we apply a deposit delay, we will apply it across all transactions for a seller that occurred on a particular day, and the number of days will be reflected in the seller’s payment account.

A reserve will be a fixed percentage of a seller’s payment account balance delayed prior to being included as part of a seller’s Available Balance for a period of up to 180 days.

You agree that Yayden is not obligated to refund any fees or reimburse any expenses due to holds or delayed deposits.

E. Escheatment. If Yayden cannot settle funds into a seller’s bank account, the funds will remain in the seller’s payment account. It is the seller’s sole responsibility to update his or her bank account information to receive the funds. If a seller fails to update the information to claim the funds within a certain period of time, Yayden may escheat the funds to the relevant government authority in order to comply with escheatment laws.

7. Reimbursement

A. Yayden reserves the right, in our sole discretion, to seek reimbursement from a seller in any of the following circumstances: (a) we provide a refund to a buyer because a seller did not promptly deliver the goods or we otherwise determine, consistent with Section 4 (Seller Rights and Responsibilities), that a refund is warranted in a particular circumstance, (b) we discover erroneous or duplicate transactions related to a seller, (c) we receive a chargeback from a buyer's credit card issuer or reversal of payment for the amount of a buyer's purchase from a seller, or (d) a seller does not act in accordance with the Terms of Use or any policy thereunder.

B. Yayden may obtain reimbursement of any amounts owed by a seller to us by deducting from future payments owed to the seller, reversing any credits to the seller’s payment account balance, charging the seller's credit card on file, charging the seller’s bill, or seeking reimbursement from the seller by any other lawful means, including by using third-party collections services. You authorize us to use any or all of the foregoing methods to seek reimbursement.

8. Payment Processing Fees

A. Overview. Yayden charges each seller a fee ( “Payment Processing Fee”) for processing each transaction through YaydenPay. We will assess the Payment Processing Fee amount based on the gross order amount, including shipping and tax (if applicable). Payment Processing Fees will be reflected in the sellers’ payment accounts. We will deduct the Payment Processing Fee from the total amount of the payment at the time the payment is considered complete. We reserve the right to modify the Payment Processing Fee at any time. In the event of any partial or full refunds credited back to a buyer, the Payment Processing Fee and other applicable fees will be recalculated based on the adjusted sale price. We will apply the difference between the original Payment Processing Fee and the adjusted Payment Processing Fee to the refund amount being credited back to the seller, along with any other applicable fees that we refund on the seller’s bill.

B. Calculation of the Payment Processing Fee Amount. The total amount of each Payment Processing Fee will be a flat $0.25 per transaction plus 3.5% of the gross order amount, including shipping and tax (if applicable).

C. Listing Currency and Payment Currency. All transactions on or through the Services must be in U.S. dollars (“USD”).

D. Interest. In the United States, Yayden may earn interest or other compensation from the balances in our bank accounts that result from the timing difference between our being paid by buyers and our bank account being debited to pay payment account Available Balances to sellers. You agree that all such interest or other compensation will belong to Yayden and you will have no claim to it.

9. Subscription Fees

A. Overview. Each user that has registered a subscription with Yayden as a seller (registration is required to sell anything on the Site or through the services) will pay to Yayden a monthly subscription fee (“Subscription Fee”).

We will typically assess a seller’s Subscription Fee on the same day as the Payment Date for making monthly disbursements to the seller if the seller has elected to receive monthly disbursements (See Section 6C, regarding Scheduled Deposits), or on the day that would be the Payment Date for making monthly disbursements to the seller if the seller had elected to receive monthly disbursements. In any event, you agree that any failure to bill you for any amount owed shall not be a waiver of any right to bill you later and receive payment for such amount.

Subscription Fees are non-refundable.

B. Calculation of the Subscription Fee Amounts. The total amount of each seller’s Subscription Fee will be determined according to the Subscription Plan selected by that seller at registration. Three different Subscription Plans are available: (1) Basic Seller Subscription Plan; (2) Promoted Seller Subscription Plan; and (3) Premium Promoted Seller Subscription Plan. The provisions of each of these Subscription Plans are explained in the registration materials.
For the Basic Seller Subscription Plan, each month Yayden will charge the seller 7% of the total gross order amounts (including shipping and tax, if applicable) for the seller’s sales for that month.

For the Promoted Seller Subscription Plan, each month Yayden will charge the seller $10 plus 4% of the total gross order amounts (including shipping and tax, if applicable) for the seller’s sales for that month.

For the Premium Promoted Seller Subscription Plan, Yayden month we will charge the seller $35 plus 7% of the total gross order amounts (including shipping and tax, if applicable) for the seller’s sales for that month.

C. Payment. Subscription Fees will be deducted from a seller’s payment account to the extent that there are funds available in the account to cover them. All outstanding Subscription Fees must be paid in U.S. dollars (“USD”) within _________ days after we bill the seller for them.

10. Reporting Obligations

United States Internal Revenue Service regulations may require that we file a Form 1099-K to report unadjusted annual gross sales information for sellers located in the United States or being paid in USD that meet both of the following thresholds in a calendar year (reporting):

A. More than $20,000 USD in gross sales, and

B. More than 200 transactions.
In any event, all sellers agree to provide their taxpayer-identification information to Yayden upon request.

11. Termination

Yayden may terminate or suspend a seller’s use of YaydenPay at any time, for any reason. A seller may terminate this contract and the seller’s acceptance of YaydenPay at any time by canceling the seller’s subscription with Yayden. Upon termination, any non-disputed available balance will be deposited into a seller’s bank account. Yayden reserves the right, upon termination of access to YaydenPay, to set off against any payments to be made to the seller, an amount determined by us to be adequate to cover any anticipated chargebacks, refunds, adjustments or other amounts that might be paid to buyers in connection with purchases from the seller's payment account for a prospective 180-day period. At the end of the 180-day period following termination, we will disburse to the seller any amount not used to offset chargebacks, refunds, adjustments, or such other amounts paid to buyers, or seek reimbursement from the seller via any of the means authorized in this Policy for any additional amount required to offset chargebacks, refunds, adjustments, or other amounts paid to buyers, as applicable.

Last updated on 1/13/2021