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This is a general guide to your Merchant Guarantee agreement.
Remember the agreement only comes into effect when you have applied for the Merchant Guarantee, and Worldpay have accepted your application. You must pay all agreed fees by their due dates, and follow the rules of the agreement.
Under the Merchant Guarantee service, we will pay you the value of payments which are subject to qualifying chargebacks that result from fraudulent use of the card details by any person, other than the authorised cardholder.
A 'qualifying chargeback' means a chargeback that fulfills the rules below and that is guaranteed by us, Worldpay, in accordance with those rules.
A 'risk alert' is an email notification by us to you of potential fraud. There are two types of risk alert, a caution and a warning. Payments associated with a warning type of risk alert are not subject to guarantee protection. A caution level of risk alert is covered by the Merchant Guarantee, but we expect you to take reasonable steps to investigate the payment, once you have received the caution. The Merchant Guarantee does not cover any payment associated with warning level of risk alert.
The payment must have originally been authorised by the card issuer, (acknowledged as such by us to you) and be a payment that is not associated with a warning type of risk alert.
You must try to get your money back in the usual way (e.g. recover goods delivered where possible) and/or obtain reimbursement first from any other party, including any chargeback or general insurance cover you may have.
The Merchant Guarantee does not apply to any payment over £250 in value or local currency equivalent (or such other amount as we notify to you) unless we have agreed in writing a specific limit either in general for your payments or for particular large value payments.
If you want us to apply this guarantee to any payment over £100 in value or local currency equivalent (or such other amount as we notify to you) you must obtain proof of delivery of goods to the shopper in fulfillment of the payment. For lower value payments we may call for proof of delivery where appropriate or for other reasonable evidence that you have fulfilled the contract of supply.
If you get a warning from us of a possible chargeback please use the Dispute Management function of the system.
You must use due care and disclose all relevant information to us in good faith.
A chargeback does not qualify if we suspect you have colluded or acted unlawfully or improperly.
The payment must relate to goods that, in our opinion, are substantially the same as those declared in your application or as subsequently notified to and acknowledged by us.
You must fulfill your legal and contractual obligations to the shopper.
Please contact us as quickly as possible by email at guarantee@worldpay.com.
Please explain all the relevant circumstances and quote the unique payment number contained in our email to you confirming the payment (without which we cannot process the claim).
We will need to have access to any correspondence, contract and relevant information that concerns the shopper.
If it appears to us that you have a higher than normal rate of disputed payments (that require either refunds or result in chargebacks), we may remove the Merchant Guarantee protection. For new customers, we will not settle guarantee claims for 3 months from the date you have first used our payment processing services.
In no circumstances shall we be liable to you for more than the amount of the transaction.
This guarantee is personal to you, and the benefit may not be assigned or dealt with in any other way.
You authorise us as your agent to take over any rights you may have to seek payment for any transaction where we have accepted your claim and credited you. We will pay all relevant costs from that time and keep the proceeds but shall not be obliged to seek recovery of the debt. You will also automatically transfer to us all other rights you have against the Cardholder or Issuer.
If, whilst a claim is being considered or following our acceptance of a claim you receive full or part payment (or returned goods) relating to the transaction, you must email us to tell us at once. We will reduce the amount we must pay you by the amount of the money (or the original purchase price of the returned goods) you have received.
We may increase the price of this service on giving you notice or we may impose additional conditions or vary the service at any time in respect of future transactions.
The Merchant Guarantee does not extend to any amount of the Transaction represented by Value Added Tax (VAT) or other taxes which are recoverable by you, nor the amount of our charges to you for the relevant Transaction.
The Merchant Guarantee service will cease with immediate effect and we will not consider any claims if you default in paying us any amounts due to us under this or any other agreement or are in breach of this agreement or if you fail to cooperate with us in dealing with claims.
Where required you must provide reasonable and timely co-operation (including access to your related records) with any enquiries into suspected fraud carried out by us, our authorised agents, the Police or other official investigators.
The Merchant Guarantee applies to payments for tangible goods, it does not apply to payments for intangibles, for example downloads such as MP3 files.
The Merchant Guarantee charge is payable in the same manner as the equivalent monthly and payment charges comprising the Service Charge in your agreement and is subject to the relevant tax as applicable. During the period you have the Merchant Guarantee, you do not need to pay the Fraud Screening Charge (FSC), normally payable on each transaction.
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