Legal
Terms of service
The agreement between MolnPay and a merchant using it — what we undertake to do with money we are holding, and what you undertake in return.
The full terms are not yet published. The fee terms under “In force now” already apply to every account: you accept them when you sign up and each time you fund your balance. The outline after them is what the full document will add.
In force now.
- Your prepaid balance
- Every MolnPay fee is drawn from a prepaid balance you fund in advance, in Billing. Money you send to fund it, including the payment that activates your account and every top-up after it, whether made by you or automatically, is a credit for MolnPay fees. It is not money held for you.
- Non-refundable
- That credit is non-refundable. It cannot be withdrawn, moved to another account or refunded, in whole or in part, for any reason. That includes an account you stop using, an account that is paused or suspended, and an account closed by you or by us, including for breaking these terms or the Acceptable Use Policy. Any credit left when an account closes is forfeited.
- You are told before you pay
- Every screen where you fund your balance states this before you pay. Funding your balance is your acceptance of it.
- What it does not cover
- This applies only to the prepaid balance. Payments your customers make to you are not fee credit and are not affected by it.
What it will cover.
- What the service is, and what it is not
- Custody of crypto assets between a payment and your withdrawal, payment processing, and payouts. Not banking, not exchange, not investment, and no fiat settlement in v1.
- Custody and your funds
- That balances are held for you, that you may withdraw to your own allowlisted addresses, the 24-hour cooling period on adding one (which our team can release early on request), the verification asked for before your first withdrawal, and what happens to a balance if an account is paused, suspended or closed.
- Fees and how they are charged
- The plan you are on; that when the balance runs out we top it up from your own or service wallet unless you switch that off; and the notice you get before your rate changes. The prepaid balance itself is covered above, and is in force now.
- Finality, reorgs and corrections
- That a payment is yours on confirmation, and what happens in the rare case where a confirmed payment is later reorganised out of the chain — including that a correcting event is emitted so your ledger can be fixed.
- Account states and termination
- The three merchant states — active, paused, suspended — what moves an account between them, the reason you are given, and how either side ends the relationship.
- Liability, and the limits of it
- Including the honest ones: the parts of the service that run on chain have not been audited by a third party, and chains can and do fail in ways no service provider controls.