Stripe Services Agreement Singapore: What You Need to Know

Setting up an online business can be exciting, but it also comes with its own set of challenges. One of these challenges is finding a reliable payment processing service that works seamlessly with your website or app. This is where Stripe comes in – a popular online payment service that has become a favorite among businesses around the world, including Singapore.

If you`re planning to use Stripe for your online business in Singapore, it`s important to familiarize yourself with the Stripe Services Agreement. This agreement outlines the terms and conditions of using Stripe`s payment processing services, including your responsibilities as a user and Stripe`s obligations as a provider.

Here are some key things you need to know about the Stripe Services Agreement in Singapore:

1. Eligibility

To use Stripe in Singapore, you must be a registered business entity with a valid business registration number, and have a business bank account in Singapore. In addition, you must be authorized to use Stripe by the owner of the website or app where the payment processing service will be used.

2. Fees

Stripe charges fees for its payment processing services, including a transaction fee for each payment processed and a monthly account fee. The fees vary depending on the volume of transactions and the type of payment methods used, such as credit card or Alipay. Be sure to check the current fee structure on the Stripe website before signing up.

3. Compliance

As a user of Stripe`s payment processing services, you are responsible for complying with all applicable laws and regulations in Singapore, including those related to money laundering and data privacy. Stripe may also require you to provide certain documentation to verify your identity and business operations.

4. Dispute Resolution

If you encounter any issues with Stripe`s payment processing services, such as a disputed payment or account suspension, the Stripe Services Agreement outlines the process for resolving these disputes. This includes filing a dispute or claim through Stripe`s customer support team, and potentially engaging in mediation or arbitration if necessary.

In conclusion, the Stripe Services Agreement is an important document for any business planning to use Stripe`s payment processing services in Singapore. By understanding the terms and conditions outlined in this agreement, you can ensure a smooth and successful experience with Stripe as your payment provider.

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