LOAM Pay Terms

1. What LOAM Pay is

LOAM Pay is the integrated payments product available to merchants on the LOAM platform. It allows you to accept card and digital-wallet payments from your customers and receive payouts directly to your bank account. LOAM Pay is delivered via a regulated payments partner; LOAM itself does not hold or move your funds.

2. Activation and KYC

To activate LOAM Pay you complete a Know-Your-Customer (KYC) flow embedded in your LOAM admin. The information you provide — business details, beneficial owner declarations, tax identifiers, bank account information — is collected by the regulated payments partner that operates LOAM Pay. LOAM does not store or have access to sensitive payments data (card numbers, full bank credentials).

During activation you will be asked to accept the payments partner's service agreement. This acceptance is required by law and cannot be waived; it sits alongside these LOAM Pay Terms.

3. Funds flow

Customer payments flow into a LOAM Pay account issued in your legal name. Funds settle to your nominated bank account on a payout schedule set by the payments partner (typically daily, weekly, or monthly depending on your country). LOAM does not have signing authority over your LOAM Pay balance.

LOAM may deduct a platform fee from each transaction as disclosed in your pricing plan. This fee is in addition to the payments partner's processing fees. Both fees are itemised on your statements.

4. Fees

Processing fees are set by the payments partner and disclosed to you at activation. LOAM's platform fee, where applicable, is set by your current plan; see the User Terms and the pricing page for current rates. We will give you reasonable notice of any fee change.

5. Refunds and disputes

You are responsible for handling customer refunds and chargebacks. Refunds are issued from your LOAM Pay balance; if your balance is insufficient at the time of refund, your nominated bank account may be debited. Chargebacks are subject to dispute fees set by the payments partner and the card networks.

LOAM does not adjudicate refund disputes between you and your customers. We can provide transaction records on reasonable request to support a dispute response.

6. Acceptable use

LOAM Pay may not be used to accept payments for goods or services that violate the payments partner's restricted- business list (which mirrors the card networks' restrictions on adult content, regulated goods, gambling, and similar categories), or that violate applicable law. We reserve the right to pause or terminate LOAM Pay access on reasonable notice — and immediately where required by the payments partner, the card networks, or law enforcement.

7. Suspension and termination

You may close your LOAM Pay account at any time by request to support@loam.st. Outstanding balances will be paid out subject to the payments partner's standard hold periods. Closure of LOAM Pay does not in itself close your LOAM account; you can continue to use the platform with manual payment-collection methods.

8. Data and privacy

Transactional data generated by LOAM Pay is processed jointly by LOAM (for in-platform display, reporting, and fraud analysis) and the payments partner (for processing, regulatory reporting, and fraud control). See the LOAM Privacy Notice and DPA for the role allocation. The payments partner's privacy notice applies in addition to LOAM's where they are the controller.

9. Liability

To the extent permitted by law, LOAM is not liable for losses arising from the payments partner's actions (including processing delays, account suspensions, or dispute decisions). LOAM's total liability under these LOAM Pay Terms is capped per the User Terms.

10. Contact

Questions about LOAM Pay: support@loam.st. Formal notices to LOAM should be sent by email to legal@loam.st. The operating entity for LOAM will be identified in this notice prior to the platform's general availability.