Zettle by PayPal Payment Terms and Conditions

PART 1 – Access to and Use of the Payment Service

1. Registration

To access and use the Payment Service, you must create a "Zettle Account," as described in Part 1 of the General Terms.

If there has been no activity on your Zettle Account for at least two consecutive years and you have a balance in your Zettle Account, we will send you a notification to the provided email address and/or the one linked to your Zettle Account, giving you the option to keep your Zettle Account active or to close your Zettle Account and request the payout of any funds we hold for you. If you do not respond to our inquiry within thirty days, we will automatically close your Zettle Account, and any funds we hold for you will be handled in accordance with applicable law and, if permitted, will accrue to us.

To receive funds from your Zettle Account, you must either (i) link your Zettle Account to your PayPal Account (defined below) or (ii) provide and, if we request it, confirm a bank account in your name at a bank in Norway (your "Bank Account"). You will receive funds in accordance with Part 14 either in your PayPal Account or your Bank Account (the "Designated Account").

For these Payment Terms, "PayPal Account" shall be defined as a digital instrument that can be used to send and receive money or make payments through a payment method supported and made available according to PayPal's User Agreement.

From the moment these Payment Terms are accepted, you will fall under one of the Merchant categories described in subsections a) to d) below. These subsections describe the authorization(s) you must grant us to transfer funds from your Zettle Account or PayPal Account (whichever is applicable) to your Bank Account or PayPal Account (whichever is applicable).

a) If you only have a PayPal Account

If you have a PayPal Account and want a Zettle Account, you authorize and instruct us to initiate the transfer of all outstanding balances in your Zettle Account to your PayPal Account.

b) If you have a PayPal Account and Zettle Account

If you have opened a PayPal Account but have a Bank Account linked to your Zettle Account (as described in c) below), you will need to link your Zettle Account to your PayPal Account to receive payouts of the outstanding balance in your Zettle Account to your PayPal Account. To the extent technically possible, you authorize and instruct us to link your Zettle Account to your PayPal Account on your behalf and agree that any payout of outstanding balances in your Zettle Account will be made to your PayPal Account instead of your Bank Account.

c) If you only have a Zettle Account

If you only use the Payment Service and do not have a PayPal Account, you must provide, and if we request it, confirm your Bank Account. After providing a Bank Account, you authorize and instruct us to initiate the payment of the outstanding balance in your Zettle Account to your Bank Account. You grant us the authority to inquire with and obtain information from the relevant bank, including to verify the provided Bank Account. You agree to do what is necessary to assist us in verifying the provided Bank Account. If the information about the provided Bank Account is incorrect or incomplete, or if for any reason we cannot verify that the bank account is in your name, we may remove the Bank Account from your Zettle Account, and you confirm and agree that we will not be obligated to make payments to you until you have provided correct and complete information about your Bank Account and we, as relevant, have verified that you are the holder of the Bank Account.

d) Existing Zettle Account and new PayPal Account

If you have a Zettle Account and subsequently open a PayPal Account, you will need to link your Zettle Account to your PayPal Account to receive outstanding balances in your Zettle Account in your PayPal Account. To the extent technically possible, you authorize and instruct us to link your Zettle Account to your PayPal Account on your behalf and agree that any payout of outstanding balances in your Zettle Account will be made to your PayPal Account instead of your Bank Account.

2. Controls

By entering into the agreement for the Payment Service, you instruct and authorize us to perform credit checks, sanctions checks, and other verifications that may require you to submit additional information and documentation necessary for us to verify your identity and otherwise fulfill our anti-money laundering, anti-terrorist financing, and similar regulatory obligations. We may at any time perform further credit checks and controls to determine whether you continue to qualify for access to and use of the Payment Service. We may also request permission to conduct a physical inspection of your business premises and examine your accounts regarding compliance with these Payment Terms.

You confirm that you will comply with all such requests without undue delay. You authorize us and our Acquirers to obtain information about you at any time and to disclose information about you to third parties, including credit bureaus or agencies and other information providers, and you authorize and instruct such third parties to collect and provide such information to us.

Once we have collected and verified all information, we will assess whether you qualify for access to and use of the Payment Service. You agree that we have the right, at our sole discretion, to decide whether you qualify for access to and use of the Payment Service. We will only be bound by these Payment Terms once we have determined that you qualify for access to and use of the Payment Service.

We reserve the right to suspend your access to and use of the Payment Service and to terminate your Zettle Account if we find that you no longer qualify for access to and use of the Payment Service or if you fail to immediately comply with our requirements as set forth above.

3. Our Role

The Payment Service enables you to receive and handle payments from your customers that occur (i) by card or their smartphone, tablet, or other compatible mobile device that allows them to make contactless transactions on the smartphone/device using the App installed on your a) smartphone, tablet, or other compatible mobile devices connected to your Zettle reader, or b) directly on a Zettle reader that allows you to make contactless payments, (ii) when your customers pay an invoice online using a card or other payment method that enables online payment as made available by us in your jurisdiction ("Invoice Service"), (iii) when your customers pay for your goods and/or services via a payment link sent to your customers by email, text message, or similar communication tools, and (iv) by using gift cards issued by you through our gift card service ("Zettle Gift Card Service").

If you have registered for a service that allows you to sell products and/or services online and that service has the necessary integrations with our Payment Service, it may enable you to accept and process payments from your customers who can pay online using a card or other electronic payment method made available by us in your jurisdiction.

These payment options and functionalities described in Part 12 may be unavailable in your jurisdiction. For more information, please visit our website.

By offering the Payment Service, we will facilitate the processing of card transactions made through the Payment Service on your behalf, credit funds received through such transactions to your Zettle Account, and make the payment (less our fees, chargebacks, claims, and other outstanding amounts we or another company within the PayPal Group are entitled to) to your designated Bank Account in accordance with these Payment Terms.

You authorize and instruct us to receive, hold, and disburse funds in accordance with these Payment Terms on your behalf. This authorization and instruction will remain in effect until the termination or closure of your Zettle Account.

4. Service Level

The Payment Service is subject to the Card Scheme Rules and may also be subject to special terms applicable to the use of a specific payment method ("Special Terms") provided by us or a third party ("Third-Party Payment Provider"). The Card Scheme Rules as they apply to merchants and the Special Terms related to the payment methods you have chosen will constitute part of your agreement with us. Further information on the Card Scheme Rules and Special Terms can be found here.

You agree to comply with the Card Scheme Rules and the Special Terms, and that the Card Scheme Rules and Special Terms will take precedence over these Payment Terms concerning the relevant payment method, and that, in the event of a conflict between a provision in these Payment Terms and the Card Scheme Rules/Special Terms, the following order of interpretation shall apply: i) Card Scheme Rules, (ii) Special Terms, (iii) Payment Terms.

We may add, delete, and change specific payment methods at any time, and the Card Scheme Rules and Special Terms may also be changed from time to time in accordance with relevant terms and conditions. Such changes may be made unilaterally by us without notice, but we will endeavor to inform you in advance. Your continued use of such payment method constitutes your acceptance of such additions, deletions, or changes. For the avoidance of doubt, if you use a payment method provided by Klarna, we have the right to acquire and transfer claims against the customer resulting from the sale of goods or services to said customer as further described in the Special Terms.

We reserve the right to amend these Payment Terms in accordance with clause 23 of the General Terms, or with shorter notice if the Card Scheme or a Third-Party Payment Provider requires it to comply with the Card Scheme Rules or otherwise make changes to the Payment Service.

5. Zettle Reader

To use the Payment Service for sales at a physical point of sale, you must download and install the App and acquire one of our compatible card readers ("Zettle Reader"). Information on the available Zettle Reader and how to purchase them can be found on our website. You can also purchase Zettle Readers from our online store or from other authorized retailers.

You are also responsible for contacting us if you suspect that your Zettle Reader has been compromised or stolen.

6. Restrictions and Limitations

By accepting these Payment Terms, you agree not to use the Payment Service to accept payments in connection with the following businesses without our prior written consent, which we may withhold or revoke at our sole discretion if we believe it poses a risk to our business and/or reputation: a) private healthcare services, b) gambling and gaming services (regardless of whether such gambling and gaming services are offered in accordance with applicable laws and approved by relevant authorities), c) financial services (regardless of whether such financial services are provided in accordance with applicable laws and approved by relevant authorities), d) gift cards (except for gift cards as described under clause 3 and clause 28 and in accordance with our General Terms), e) services involving the organization of planned public or social events, such as ticket sales, or f) transport and travel.

In addition to other obligations, requirements, restrictions, or limitations set forth in these Payment Terms, you agree not to: a) use a price index to accept a card, b) charge a higher price or extra fees for using a card in connection with a transaction, unless permitted to do so under laws, rules, and regulations of your specific jurisdiction, c) use credits available on the card to provide cash withdrawals to customers, d) in connection with in-store transactions, conduct transactions in territories other than Norway and in currencies other than Norwegian Kroner (NOK), e) differentiate cards regardless of reason, unless permitted by applicable laws, rules, and regulations in your jurisdiction, f) send card transactions that do not originate from the sale of products or services to your customer, i.e., you cannot send a card transaction for processing that originates from sales or activities offered by others, g) send any card transactions for processing that you know or should know are fraudulent or not approved by the customer, h) act as a payment intermediary or facilitator or otherwise resell the Payment Service, i) send a card transaction for processing that represents a refinancing of a customer's existing obligation, j) require a customer to waive their right to dispute a card transaction, k) require a customer to provide their PIN code during a card transaction, l) where a customer uses a Chip and PIN card, print data showing a customer's PIN on a receipt, or m) process a purchase of goods or services as multiple payment transactions.

Our Acquirers and Card Schemes may at any time impose certain limitations regarding our Merchants' annual card transaction volume through the Payment Service. If your annual card transaction volume exceeds the amount specified by the Card Schemes, you will need to enter into supplementary agreements directly with our Acquirers ("Agreements for Commercial Entities"). By accepting these Payment Terms, you agree that, should these threshold values be reached, the Agreement(s) for Commercial Entities will automatically apply between you, us, and the relevant Acquirer, respectively. You can find the agreements here. If you do not enter into Agreement(s) for Commercial Entities, we will not be able to accept transactions beyond these threshold values.

You may not use the Payment Service to process card transactions with your own cards or cards issued in your name.

You may not in any way refer to us, our Acquirers, or the Card Schemes as having approved your products and/or services.

Use of the Payment Service is subject to certain limitations regarding daily card transaction volume, as further specified on the website.

7. Errors and Improper or Illegal Use

We assume that you are the sender of all transactions and other instructions to us when you use your account credentials. You must immediately notify us via our website or contact our customer service at support.no@zettle.com if you discover or have reason to believe that there is an error or improper or illegal use of your Zettle Account and, if possible, change your account credentials to prevent further errors and/or improper or illegal use. You must provide us with all information and documents in your possession concerning the circumstances surrounding such errors and/or improper or illegal use of your Zettle Account and take the necessary steps to assist us in the investigation.

8. Approved Cards

The Payment Service can be used to accept transactions with most credit, debit, and other types of cards ("Cards") whose Card Scheme trademarks are further specified on our website. We may remove or add Cards that we accept at any time without prior notice. We only process transactions that are authorized by the respective Card Scheme or card issuer.

You agree that you are responsible for verifying the identity of your customers and the qualification requirements for each presented Card used to purchase your products and services, and for all reversed or refunded transactions, regardless of the reason, or setting for reversal or refund as further described in clause 17.

9. Fees

To use the Payment Service, you agree to pay fees ("Fees") assessed and calculated by us in accordance with the price list available on our website.

By accepting these Payment Terms, you have agreed that we will charge you the Fees (as a blended merchant service fee) assessed and calculated by us in accordance with the price list.

The Payment Service is a VAT-exempt service. We reserve the right to change our Fees at any time in accordance with clause 23 of the General Terms. Fees will be assessed at the time a card transaction is processed and will be deducted from funds received by us and credited to your Zettle Account.

10. Taxes

In addition to what is stated in clause 10 of the general terms, you declare that you accept that we may from time to time be required to report to tax authorities and provide your name, address, and information about transactions we process on your behalf when you use the Payment Service.

11. Transaction Processing

You must comply with all our instructions regarding the acceptance and approval of card transactions, including those available on the website. You undertake to ensure that all employees and other qualified representatives handling card transactions for you are informed in advance of the content of these Payment Terms and that they have received the necessary training to meet the requirements of these Payment Terms.

When a payment transaction is made, we will update the information about the transaction in your Zettle Account, confirm that the transaction has taken place, and provide details about the transaction as further described in clause 15.

You must provide customers with a receipt if they request it. Customers can receive an electronic confirmation via email or SMS instead of a paper receipt. It is your responsibility to inform the customer that you will use the App to send them a receipt via email or SMS before doing so.

You or your customers cannot withdraw an authorized transaction after the day the customer authorized the transaction.

You agree not to provide incorrect or misleading descriptions of any card transactions you send via the Payment Service, and that the descriptions provided within specified transactions will be an accurate and correct description of the products or services purchased.

We reserve the right not to authorize or process card transactions that you send via the Payment Service that we believe may be in violation of the General Terms, these Payment Terms, or any applicable laws, rules, or regulations, or that may expose you or us to damage, including, but not limited to, fraud or other criminal activities. You authorize us to share information about you, your transactions, or your use of the Payment Services with law enforcement authorities if we suspect that your Zettle Account is being used for illegal or criminal purposes.

12. Card Transaction Processing

You can use the Payment Service for processing card transactions (i.e., transactions where both the card and the customer are present at the time of the transaction) by inserting the card into the Zettle Reader and obtaining the customer's PIN, or swiping the card and obtaining the customer's signature. The App will ask you which identification control is necessary, based on the customer's Card. If the customer's card has an electronic chip, you must always prioritize obtaining Chip and PIN authorization before obtaining a signature.

Depending on the availability in your jurisdiction, you may also use the Payment Services to process keyed-in transactions (i.e., transactions where neither the customer nor the Card is present at the time of the transaction and you instead enter the card number, expiration date, and security code), however, you cannot process a keyed-in transaction when your customer's Card is present.

You may use the Payment Service to process contactless transactions (i.e., transactions made using wireless induction technology in a Zettle Reader or a compatible mobile device that supports contactless transactions made by card transaction or transactions via smartphone or device with near-field communication technology or QR codes), but you cannot process a contactless transaction that has a value exceeding the currently applicable amount limit for the transaction as determined by an Acquirer, Card Schemes, and/or us, as described on our website.

13. Refunds and Chargebacks

You must fulfill any request for a refund or adjustment for the return of your goods or services through the Payment Service to the customer's Card in accordance with these Payment Terms and applicable card schemes. All refunds and corrections related to a Card must be made to the customer's Card. You are obligated to: a) have a reasonable refund, cancellation, or correction procedure, b) provide the refund or cancellation procedure to customers at the time of purchase, c) not provide a cash refund to a customer in connection with a card transaction, unless required by law, and d) not accept cash or other valuables to prepare for a refund of a card transaction.

Full refund must correspond to the exact amount of the original transaction, including fees and processing charges. The refund amount cannot exceed the original sales amount, excluding amounts equivalent to covering the customer's costs for postage and return of the item. Refunds processed through the Payment Service must be sent within thirty days after the original transaction. For approved refunds, we will deduct the refund amount (including any applicable fees) from available funds from the processing of other transactions or funds credited to your Zettle Account. If such funds are insufficient, you agree to pay any outstanding amount immediately upon request. You are responsible for accepting and processing returned products or services.

Through the settings for your Zettle Account, you can choose and instruct us to maintain outstanding balances in your Zettle Account reserved for refunding or to expedite the processing of refunds.

14. Payout of Funds

Funds from card transactions credited to your Zettle Account will not be paid out to the Designated Account until the transaction is considered complete. A card transaction is considered complete when we have received the funds from the relevant Card Scheme or Acquirer. Once we have verified the Designated Account (if applicable), we will take the necessary steps within commercially reasonable limits to initiate the payout of funds (less our fees, reserves, refunds, chargebacks, claims, and other amounts we are entitled to) to the Designated Account on the first business day after the day we received the funds into our client settlement account ("Customer Account"), unless otherwise specified in these Payment Terms.

Through the settings for your Zettle Account, you can choose the frequency of payouts of funds to the Designated Account. We will then pay out all your funds in accordance with the selected intervals. Payouts of funds to your designated bank account are subject to certain limitations as further specified on our website.

Payouts to a Bank Account are performed, at least in part, by third-party financial institutions. We are not responsible for the final crediting of funds to your Bank Account once we have paid out funds to your Bank Account. We will also not be responsible for any funds that, due to incorrect or incomplete information about the Bank Account provided by you, are paid to a bank account that is not in your name.

We reserve the right to temporarily suspend and/or defer payouts to the Designated Account and/or limit access to funds credited to your Zettle Account when we need to conduct investigations or resolve any ongoing disputes related to your Zettle Account and/or as required to comply with Card Scheme Rules, applicable laws, or court orders, or as otherwise required by law enforcement or other governmental authorities.

15. Transaction Information

You can access information about your transactions by logging into your Zettle Account. You will also be able to access downloadable reports. The transaction information will also show all accrued fees, and any other amounts charged to your Zettle Account during the relevant period and information about payouts to the Designated Account.

We will provide you with information about card transactions with a reference so that you can identify the transaction, the transaction amount in the currency credited to your Zettle Account, and the fee for the transaction. By accepting these Payment Terms, you request and agree that we may collect information in the categories of brand, application, payment instrument, and inter-settlement fees applicable to the transaction, where appropriate, and that we may regularly make this information available to you, at least once a month via your Zettle Account in a format that allows it to be stored and reproduced unchanged.

16. Reserve Amount

We reserve the right to set an amount that you must maintain in your Zettle Account and/or set aside a reserve on your behalf (a "Reserve") to ensure the fulfillment of your payment obligations under these Payment Terms or other claims that we may deem necessary to protect against risks associated with our business relationship with you. We may require and/or hold a Reserve for any reason, including if you have a high rate of chargeback claims, refunds, or other indications of problems related to your use of the Payment Service.

The Reserve will serve as security to cover expected chargeback claims, refunds, and/or unfulfilled products or services or credit risk based on your processing history, and we will have the right to collect and set aside from the Reserve any amounts you owe us under these Payment Terms. You authorize and instruct us to make any withdrawals or debits from the Reserve, without prior notice, to collect and set aside amounts you owe us under these Payment Terms.

17. Chargebacks

Any amounts attributable to a payment transaction may be reversed or debited back to your Zettle Account (a "Chargeback") if the transaction: a) is disputed in any way, b) is reversed for any reason by the card scheme, our Acquirer, the cardholder, or the card issuer, c) was not authorized, or if we have reason to believe it was not authorized, and/or d) is alleged to be illegal, suspicious, or in violation of these payment terms.

Because all card transactions that we consider may result in a Chargeback, we have the right to withhold potentially chargeback amounts in a Reserve. We may collect the chargeback amount as well as all associated fees, fines, or penalties assessed by the Card Scheme or our Acquirers from funds credited to your Zettle Account, or any other funds we owe you under the Payment Terms. If we believe a Chargeback is likely with respect to any card transactions, we may withhold the amount for the potential chargeback from you under these Payment Terms until: a) a Chargeback is assessed due to customer complaints, in which case we will retain the funds, b) the time period according to applicable laws or regulations for the customer to dispute the transaction has expired, or c) we determine that a Chargeback of the transaction will not occur. If we are unable to collect funds related to a Chargeback for which you are responsible, you must pay the full amount of the Chargeback immediately upon request. You agree to pay all costs and expenses, including, but not limited to, attorney's fees and other legal expenses, incurred by us or on our behalf in connection with the collection of any outstanding amounts owed by you.

If we find that you are incurring an undue amount of chargebacks or that chargebacks related to you are too frequent, we may establish controls or terms for your Zettle Account, including, but not limited to: a) establishing a reasonable Reserve set by us to cover expected chargebacks and related fees, penalties, or fines, b) suspending access to and use of the Payment Service, and/or c) terminating and closing your Zettle Account and PayPal Account.

You confirm and agree that you will assist us, at your own expense, in investigating any transactions processed via the Payment Service. Furthermore, you agree that we may share information about a Chargeback with your customer, the customer's financial institution, and your financial institution to investigate and/or communicate a Chargeback. You acknowledge that any failure to assist us when investigating a transaction, including not providing necessary information and documentation within ten days of our request, may result in an irreversible Chargeback. We reserve the right, after notifying you, to charge a fee for facilitating and/or investigating Refund Disputes.

18. Your Privacy and Security

In addition to what is stated in clause 11 of the General Terms, you agree that we are obligated to report your business name and the names of beneficial owners and/or principals to the "MATCH listing" (Member Alert to Control High Risk Merchants) operated by MasterCard and to which American Express has access and updates, the VMAS database held by Visa, and potentially according to Card Scheme Rules. You hereby specifically commit to fulfilling the obligations related to such reporting and you guarantee and agree to hold us harmless from any claims and liabilities that you may incur as a result of such registration and reporting.

We are responsible for securing the card information in our possession. We have implemented administrative, technical, and organizational procedures to secure personal data stored on our servers against unauthorized access and accidental loss, alteration, or disclosure. However, we cannot guarantee that unauthorized third parties will never be able to bypass these measures or use such information for illicit purposes.

19. Your Additional Warranties

In addition to all other warranties in these Payment Terms and in clause 14 of the General Terms, you warrant that: a) any card transactions you have performed through the Payment Service will represent a bona fide sale by you, b) any transaction sent by you through the Payment Service will provide an accurate description of the products or services sold and delivered to your customer, c) you will fulfill all your obligations to each customer on whose behalf you process a transaction and will resolve disputed amounts or complaints directly with the customer, d) you and all transactions from you via the Payment Service will comply with all laws, rules, and regulations for your business and the Payment Service, e) except in ordinary business, no transactions sent by you via the Payment Service will constitute a sale to a principal, partner, owner, or other representative of the business, f) you will not use the Payment Service, either directly or indirectly, for any fraud or in any way that may hinder the Payment Service.

20. Additional Liability and Indemnification

In addition to what is set forth in clause 15 of the General Terms, you are responsible for all chargebacks, refunds, fees, fines, sanctions, and other liabilities that a third party or we incur due to access to and use of the Payment Service and/or as a result of a breach of any of the provisions of these Payment Terms. You agree to reimburse a third party or us for any liability.

Notwithstanding the foregoing or any other provision in these Payment Terms, and in addition to what is stated in clause 15 of the General Terms, you agree to defend, and hold us, our Acquirers, Card Schemes, and each of our respective directors, agents, affiliates, and representatives harmless from any claims (including third-party claims), costs, lawsuits, losses, liabilities, damages, actions, proceedings, penalties, interest, and expenses (including, but not limited to, reasonable attorney's fees) arising from or related to: a) your actual or alleged breaches of any provisions of the Card Scheme Rules, any transaction you have conducted through the Payment Service, and c) obligations regarding third-party indemnification that we incur as a direct or indirect consequence of your actions or omissions (including compensation to Acquirers or Card Schemes).

Should you owe us any amount, we may immediately demand that it be covered by funds we hold on your behalf. If there are sufficient funds to cover your obligations, you agree to refund us otherwise immediately upon request.

21. Our Liability

In accordance with clauses 16 and 17 of the General Terms, we are responsible for ensuring that transactions initiated via the Payment Service are correctly transferred to the customer's (cardholder's) payment service provider and that card transactions performed via the Payment Service are correctly executed, provided that: a) the transaction has been approved by the customer (cardholder), b) the transaction complies with the terms of these Payment Terms, and c) you have fulfilled your obligations under these Payment Terms. In accordance with clauses 16 and 17 of the General Terms, we are further responsible for ensuring that the funds credited to your Zettle Account are paid out to the Designated Account in accordance with clause 14, provided that we have received such funds from the relevant Card Scheme or Acquirer into the Customer Account.

If an authorized card transaction is not executed correctly or not executed at all, we will, upon request, do our utmost to trace the transaction and attempt to correct any errors that you or we may discover and inform you of the outcome. If the error results in you receiving less than the amount you were entitled to, we will credit your Zettle Account for the difference. If the error results in you receiving more than you were entitled to, we will debit the excess funds from your Zettle Account. We will only attempt to resolve transactions that you process incorrectly if you notify us of this without undue delay and at the latest within sixty days after the error was first discovered on your electronic transaction history.

PART 2 – Other Legal Provisions

22. Application of Certain Parts of the EU Revised Payment Services Directive (Directive 2015/2366/EU) ("PSD2")

By accepting these Payment Terms, you agree that, if and to the extent that the provision of Services is at any time subject to other legislation in any jurisdiction implemented for the purpose of implementing PSD2 ("PSD2 Legislation"): the following PSD2 provisions, as implemented by any PSD2 Legislation, shall not apply to these Payment Terms or the provision of Services:

1. Article 40 (Remuneration for information), 41 (Burden of proof for information requirements), 42 (Exemption from information requirements for low-value payment instruments and e-money), 44 (Previous general information), 45 (Information and terms), 46 (Information for the payer and the payee after initiation of a payment order), 47 (Information for the account servicing provider for the payer in connection with a payment initiation service), 48 (Information for the payer upon receipt of the payment order), 49 (Information for the payee after execution, 51 (Previous general information), 52 (Information and terms), 53 (Access to information and terms in the framework agreement), 54 (Changes to terms in the framework agreement), 55 (Termination), 56 (Information before execution of individual payment transactions), 57 (Information for the payer regarding individual payment transactions), 58 (Information for the payee regarding individual payment transactions), 59 (Currency and currency conversion), 60 (Information on additional charges or reductions), 62(1) (Relevant charges), 64(3) (Consent and withdrawal of consent), 71 (Notification and correction of unauthorized or incorrectly executed payment transactions), 72 (Evidence of authentication and execution of payment transactions), 74 (Payer's liability for unauthorized payment transactions), 76 (Refund of transactions initiated by or through a payee), 77 (Requests for refund for payment transactions initiated by or through a payee), 80 (Irrevocable payment orders), 89 (Liability of payment service providers for non-executed, defective, or late execution of payment transactions; and 90 (Liability in relation to payment initiation service providers for non-executed, incorrect, or delayed payment transactions); and
2. where transactions are not in Euro or British Pounds, the requirements regarding execution and dating for time-value dating set forth in any PSD2 Legislation implementing Articles 83 to 85 of PSD2 shall not apply to this Agreement or the provision of such Services, to the extent permitted by applicable law.

23. Duration and Termination

These Payment Terms are valid from the date of signing and until they are terminated either by you or by us.

In addition to what is stated in clause 22 of the General Terms, we may terminate these Payment Terms or your use of the Payment Service or suspend or terminate your Zettle Account and PayPal Account, without prior notice: a) at the request of a card scheme or an Acquirer, b) if our agreement with an Acquirer or card scheme expires or is terminated, regardless of the reason, c) if we are deregistered as a payment facilitator with a card scheme or an Acquirer, d) if your activities or actions are, in our sole discretion, harmful or damage our name or reputation or the name or reputation of a card scheme or Acquirer, e) if you have registered for payment as a company or other business and there are changes in the management of such company or other business, or f) if owners or other persons associated with you appear on European or American sanctions lists (such as the OFAC SDN list and the EU list of economic sanctions or list of terrorists), or g) if the Designated Account is your PayPal Account and your PayPal Account is terminated, either by us or by you.

Any funds credited to your Zettle Account that we hold on your behalf when your Zettle Account is suspended or terminated will be paid out to you in accordance with clause 14, unless otherwise stated in these Payment Terms.

Termination of these Payment Terms or the termination or suspension of your Zettle Account does not exempt you from your obligations under these Payment Terms, and we may choose to continue to withhold funds we deem necessary pending the resolution of other terms or obligations as set forth in these Payment Terms, including, but not limited to, chargebacks, fees, refunds, or other investigations or processes.

24. Personal Guarantee and Other Security

If you have registered for the Payment Service as a company or other business, you confirm and agree that we may require a personal guarantee from the owner, director, principal, or other representatives of the business or establish a bank guarantee or other appropriate security to ensure the correct fulfillment of your payment obligations under these Payment Terms. In addition, to ensure that you comply with these Payment Terms, you grant us a claim against your funds in your Designated Account as security for any amount you may owe us. If we require a personal guarantee, bank guarantee, or other form of security, we will inform you separately. You agree that we will determine the scope of such guarantees or other security. We reserve the right to suspend your access to and use of the Payment Service and to terminate and close your Zettle Account if you fail to provide such guarantees or other security upon our request.

25. Audit Right

You confirm and agree that we may require you or a third party designated by us to be granted the right to conduct an audit of your business and facilities to ensure that you comply with these Payment Terms and the Card Scheme. We reserve the right to suspend your access to and use of the Payment Service and to terminate and close your Zettle Account if you do not grant us or a third party designated by us permission to conduct such an audit upon our request.

26. Maintenance, Deduction, and Collection Rights

If you have taken out a loan from, or used any other form of financing agreement offered by any other company within the PayPal group, you acknowledge and instruct us to, on your behalf, collect, deduct, and then transfer to any lender or financing source (or their correspondent bank or other service provider), any amount that is due (or otherwise agreed to be paid) in connection with such loan or financing from your net transaction income from transactions or other funds held or maintained by us on your behalf until the point at which the amount you owe us in connection with such loan or financing arrangement has been paid in full. In this context, you authorize and instruct us, on your behalf, to comply with collection claims, deduction claims, or transfer claims received from a relevant lender or financing source (or their correspondent bank or other service provider).

27. Special Terms Related to the Invoice Service

You may only use the Invoice Service to issue, manage, and administer invoices in accordance with these Payment Terms. Any invoice issued through the Invoice Service shall not exceed the limits we set from time to time, which are further specified on our website. The Invoice Service enables you, when your customer chooses to pay by invoice, to independently retrieve information about your customers and to subsequently store and process such information about your customer to the extent necessary for you to issue, process, and administer invoices through the use of the Invoice Service ("Customer Information"). Customer Information may include email address, name, address, social security number (or equivalent), company name, registration number, phone number, and purchase information.

When you issue an invoice through the Invoice Service, the customer will receive an email containing the invoice and a link to a website where the customer can pay the invoice online. When the customer has paid the invoice online using a Card, or by using another payment method that enables online payment as made available by Zettle in your jurisdiction, in a correct manner, the customer shall be deemed to have fulfilled their obligation to you in connection with such invoice.

By using the Invoice Service, you agree that we are not responsible for, and that you are solely responsible for a) issuing, managing, and processing invoices generated by the Invoice Service in accordance with applicable laws, rules, and regulations, and privacy policies, b) the accuracy and completeness of your invoices, c) ensuring that your customers pay according to the invoices issued through the Invoice Service, d) any incorrect payment instructions, e) funds that, due to your providing incorrect information, have been transferred to a bank account that does not belong to you, and f) that the recipient of the invoice has the technical installations, firewalls, domains, software, etc. that enable them to receive electronic messages, and g) providing adequate customer support to your customer, where required, related to invoices issued through the Invoice Service, regarding the products, services, and/or similar provided by you, or in connection with other questions or circumstances for which we are not responsible.

You are responsible for, and guarantee, collecting, storing, and processing Customer Information in accordance with applicable laws, regulations, and rules, and your privacy policy, which includes that you have the right to, and have ensured that you have a suitable legal basis for, collecting, storing, and processing Customer Information obtained through the use of the Invoice Service. Except for this, we will handle errors in connection with what is described in clause 21.

28. Special Terms Related to the Gift Card Service

Zettle's Gift Card Service provides you with a platform to offer your customers gift cards for use in your physical retail store for your products and services, and to manage and administer gift card sales. Zettle's Gift Card Service is integrated into your Zettle Account and enables you to sell, track, and redeem gift cards in your physical retail store. Zettle's Gift Card Service does not include the delivery of physical cards or other vouchers.

Further information on Zettle's Gift Card Service can be found on our website. You are solely responsible for the issuance and administration of gift cards. We assume no responsibility for verifying or otherwise checking gift cards issued by you to customers, and you are solely responsible for providing accurate descriptions, information, and content in connection with the gift cards issued by you through Zettle's Gift Card Service.

Gift cards issued by you can only be redeemed in your store for goods or services provided by you in your retail locations. Your issuance of gift cards through Zettle's Gift Card Service is subject to VAT regulations. You acknowledge and understand that Zettle's Gift Card Service only supports vouchers that can be used for multiple purposes, meaning that VAT will only be paid when the voucher is redeemed for goods or services.

You may not issue gift cards with a value higher than NOK 10,000 (or equivalent in another currency) or add value to a previously issued gift card such that the total amount deposited into the gift card within a single day exceeds NOK 10,000. Furthermore, you may not issue gift cards for more than NOK 50,000 (or equivalent in another currency) to a single person within a single day.

You may not issue gift cards through Zettle's Gift Card Service with a validity period longer than thirty-six (36) months from the date of issue.

You may not refund gift cards in cash beyond refunds required by law. You may not redeem a previously issued gift card with another gift card. All liability for the use or misuse of your gift cards, and all third-party claims arising from or in connection with your gift cards, is your sole responsibility.

You may only accept payment for gift cards through the payment methods offered by us at the relevant time in your jurisdiction, such as card payments or cash.

You are responsible for providing information to your customers regarding the terms of these Payment Terms that apply to issued gift cards, for example, that you cannot refund gift cards in cash, that amount limits apply, and that only certain payment methods are accepted. Additionally, you agree to inform your customers about the expiration date of the issued gift card as described on the receipt you are required to provide in accordance with clause 11.

You are solely responsible for compliance with laws and regulations applicable to your gift cards. You are also responsible for providing customer service to purchasers and holders of gift cards.

Your use of Zettle's Gift Card Service may mean that you: a) issue e-money in Norway, which may require you to be authorized or registered by the Financial Supervisory Authority as an e-money institution under the Financial Institutions Act; and/or b) provide payment services in Norway, which may require you to be authorized or registered by the Financial Supervisory Authority as an e-money institution under the Financial Institutions Act or a payment institution under the Financial Institutions Act. According to the Financial Institutions Act, one cannot provide payment services or issue e-money in Norway without a concession from the Financial Supervisory Authority. However, according to §§ 2-3 and 2-4 of the Financial Institutions Act, read in conjunction with § 1-7 of the Financial Institutions Regulation and Section 11 of the Financial Agreements Act, it is not considered issuing e-money or providing payment services under these laws if the service is based on a payment instrument that can only be used to purchase goods or services from a supplier in its retail locations or within a limited network of suppliers or for a limited range of goods or services.

Provided that you comply with these Payment Terms, Zettle considers your use of Zettle's Gift Card Service to fall within the exceptions of the legislation. That is, you will not be considered to be issuing e-money or providing payment services under the Financial Institutions Act or the Financial Agreements Act. However, Norwegian law and regulations may change, and you are at all times solely responsible for making an assessment of applicable law and deciding whether your use of Zettle's Gift Card Service requires a concession from the Financial Supervisory Authority.