Merchant Terms of Service

Mind Fractal Media Inc.

Effective date: August 18, 2026
Last updated: August 18, 2026

1. Who we are and what these terms cover

These Merchant Terms of Service ("Terms") are an agreement between Mind Fractal Media Inc. ("MindFractal", "we", "us"), a company incorporated in British Columbia, Canada, and the business that accepts them ("Merchant", "you").

MindFractal operates software platforms that include the ability to accept card payments from your customers. These Terms govern that payment capability. They do not govern your use of any MindFractal software product, which is covered by that product's own agreement, and they do not govern any separate commercial or revenue-sharing arrangement between us.

By submitting a merchant onboarding application, or by accepting a payment through a MindFractal platform, you agree to these Terms.

2. Definitions

Platform means the MindFractal software through which payments are accepted.

Processor means Finix Payments, Inc., the payment processor MindFractal uses. Card networks, acquiring banks and the Processor impose rules that flow through to you.

Transaction means a payment, refund, or reversal processed through the Platform.

Fee Schedule means the current fee schedule published at mindfractal.ai/merchant-fees, incorporated into these Terms by reference.

Chargeback means a Transaction reversed or disputed by a cardholder or their issuing bank.

3. Getting approved

To accept payments you must complete a merchant onboarding application and be approved by the Processor's underwriting team. You agree to provide accurate, current and complete information about your business, its ownership, and its expected processing activity.

Approval is not guaranteed and is not within MindFractal's control. Applications may be approved, returned for more information, or declined. A decline is not a breach of these Terms by either party.

You must tell us promptly if any information you provided changes, including your legal name, ownership, business model, bank account, or the products and services you sell.

4. What the payment service is, and what it is not

MindFractal is not a bank and does not hold your funds on deposit. Payments are processed by the Processor and settled to the bank account you designate.

MindFractal provides the software through which payments are initiated and reported. The movement, holding, and settlement of funds is performed by the Processor and its financial institution partners under their own agreements with you, which you accept during onboarding.

Card data is collected directly by the Processor's hosted payment fields. Card numbers, expiry dates and security codes never pass through or reside in MindFractal systems.

5. Fees

You pay MindFractal the fees set out in the Fee Schedule.

Fees are deducted at the time of settlement unless we tell you otherwise. Fees are exclusive of any taxes, which are your responsibility.

Fees are not returned when you refund a customer. If you fully refund a $249 payment, the fee charged on the original payment stays charged.

We may change the Fee Schedule on thirty (30) days' written notice to the email address on your account. If you do not accept a change, your remedy is to stop accepting payments through the Platform and terminate under Section 14 before the change takes effect. Continuing to accept payments after the effective date means you accept the new fees.

6. Settlement and payouts

Settlement timing is determined by the Processor and the payout configuration on your account. Settlement is not instant and is not guaranteed to occur on any particular day.

You are responsible for keeping a valid bank account on file. Failed payouts caused by incorrect or closed bank details, including any return fees charged by the Processor, are your responsibility.

7. Chargebacks and disputes

You are financially responsible for every Chargeback on your Transactions, including the full disputed amount and any associated fee, as set out in the Fee Schedule.

If a Chargeback occurs we will notify you and may ask you for evidence to contest it. You agree to respond within the deadline we give you, which is set by the card networks and is not extendable. If you do not respond in time, the dispute is lost.

If your settlement balance is insufficient to cover a Chargeback and its fee, you agree to pay the shortfall on demand, and you authorise us to debit the bank account on file for that amount.

Excessive Chargeback activity may result in suspension under Section 13, a reserve under Section 12, or termination by the Processor, none of which is within MindFractal's sole control.

8. PCI compliance

Card network rules require you to attest to a PCI Self-Assessment Questionnaire within ninety (90) days of your merchant account being approved, and annually thereafter.

You are responsible for completing this on time. The Processor charges a fee for each overdue compliance form, charged repeatedly until the form is completed. That fee is passed to you as set out in the Fee Schedule.

You must also keep any credentials, API keys, and dashboard access secure, and tell us immediately if you believe they have been compromised.

9. Prohibited activity

You may not use the Platform to accept payments for anything illegal, or for any business type prohibited by the card networks or the Processor. You may not:

We may investigate any Transaction we reasonably believe breaches this section, and may withhold settlement of that Transaction while we do.

10. Your obligations to your customers

You own the relationship with your customers. That means you are responsible for:

MindFractal does not provide support to your customers and will direct any customer who contacts us back to you.

11. Data

Each party is responsible for its own compliance with applicable privacy law, including the Personal Information Protection and Electronic Documents Act (PIPEDA), British Columbia's Personal Information Protection Act, and any applicable law in the jurisdictions where your customers are located.

Our handling of information is described in full in the MindFractal Privacy Policy. In summary: we collect your contact information, platform usage records, and communications with us. We do not sell personal information and do not share it for cross-context behavioural advertising. Payment processing is performed by Finix Payments, Inc.; we receive transaction records and status from Finix, never full card numbers, expiry dates, or security codes. Financial and transaction records are typically retained for at least seven years. We apply safeguards appropriate to the sensitivity of your information, including encryption in transit and access controls.

You may not use Transaction data for any purpose other than operating your business, and you may not sell it.

12. Reserves

If we or the Processor reasonably determine that your account presents elevated risk, a reserve may be placed on some portion of your settlement funds. We will tell you if this happens, why, and what it would take to release it. Reserves are released when the underlying risk has passed.

13. Suspension

We may suspend your ability to accept payments immediately, with notice as soon as reasonably practical, if:

Suspension is not termination. We will tell you what is required to lift it, where anything can be.

14. Term and termination

These Terms begin when you accept them and continue until terminated.

You may terminate at any time by giving us written notice and ceasing to accept payments through the Platform.

We may terminate on thirty (30) days' written notice, or immediately if you materially breach these Terms, if the Processor terminates your merchant account, or if required by law or card network rules.

On termination, you remain responsible for Chargebacks, refunds, and fees arising from Transactions processed before termination. We may hold settlement funds for a reasonable period, not normally exceeding one hundred and eighty (180) days, to cover those.

Sections 5, 7, 8, 14, 16, 17, 18 and 20 survive termination.

15. Changes to these Terms

We may update these Terms. Material changes take effect thirty (30) days after we notify you at the email address on your account. Continuing to accept payments after that date means you accept the updated Terms.

16. Disclaimers

The Platform is provided "as is". To the fullest extent permitted by law, MindFractal disclaims all warranties, express or implied, including merchantability, fitness for a particular purpose, and non-infringement.

We do not warrant that the Platform will be uninterrupted or error free, and we are not responsible for outages, delays, or failures caused by the Processor, card networks, banks, or other third parties.

17. Limitation of liability

To the fullest extent permitted by law, neither party is liable to the other for indirect, incidental, special, consequential, or punitive damages, or for lost profits, revenue, or data.

MindFractal's total aggregate liability under these Terms will not exceed the total fees you paid to MindFractal in the three (3) months immediately before the event giving rise to the claim.

Nothing in this section limits your obligation to pay Chargebacks, refunds, and fees.

18. Indemnification

You will indemnify and hold harmless MindFractal, its officers, employees and agents from any claim, loss, liability, or expense, including reasonable legal fees, arising from:

19. Assignment

You may not assign these Terms without our written consent. We may assign them to an affiliate or in connection with a merger, acquisition, or sale of assets.

20. Governing law and disputes

These Terms are governed by the laws of the Province of British Columbia and the federal laws of Canada applicable in that province, without regard to conflict of laws rules.

Any dispute will be brought exclusively in the courts of the Province of British Columbia sitting in Vancouver, and both parties irrevocably attorn to that jurisdiction.

The parties have requested that these Terms and all related documents be drawn up in English. Les parties ont demandé que cette convention et tous les documents connexes soient rédigés en anglais.

21. Currency

Unless stated otherwise, all amounts are in United States dollars (USD).

22. Entire agreement

These Terms, together with the Fee Schedule and the Privacy Policy, are the entire agreement between us regarding payment services, and supersede any prior discussions on that subject. If any provision is held unenforceable, the rest remains in effect.

23. Contact

Mind Fractal Media Inc.
2002 – 1111 Alberni Street
Vancouver, BC V6E 4V2
Canada

Email: support@mindfractal.ai