Payment Links: Bulk Upload and Terms of Service features
Payment Links get you paid from anywhere via the Peach Payments payment gateway. Merchants can now send payment links in bulk, and add their terms of service to their payment links.
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Everything you need to know about using Peach Payments' payment gateway in high-risk industries, like dropshipping, betting and marketplaces.
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What products and services are prohibited?
What products and services are restricted?
Why have my settlements been paused?
At Peach Payments, we understand that every business venture is unique, and so are the challenges and opportunities you face. In line with our commitment to compliance and adherence to regulatory standards, we want to provide you with essential information regarding high-risk industries. Being aware of these categories can help you make informed decisions when using our platform and ensure a smooth and successful partnership.
Compliance is Key
First and foremost, it's crucial to understand that Peach Payments operates in compliance with the rules and regulations set out by reputable entities, including the Payments Association of South Africa (PASA), the South African Reserve Bank (SARB), and card associations like Visa and Mastercard. These regulations are in place to maintain the integrity of financial transactions and protect both consumers and businesses alike.
Prohibited Merchant Categories
To maintain a secure and reputable payment ecosystem, Peach Payments prohibits transactions related to the following categories:
Restricted Business Categories
Certain industries are subject to restrictions and may require prior written approval to transact through Peach Payments. These include, but are not limited to:
Please note that while the above list represents common high-risk industries, it is not exhaustive. If your business falls into a category you believe might pose a compliance challenge, please reach out to our support team for guidance.
Settlement and Documentation Verification
At Peach Payments, we may need to pause settlement briefly if additional documentation or proof of services is required for specific transactions. This is a necessary step to ensure transaction authenticity. While we understand the importance of cash flow for your business, this verification process is in place to protect all parties involved. Our support team will promptly request any needed documents, and your cooperation in providing them will help expedite settlement and maintain a secure payment environment.
We'd like to emphasize that Peach Payments' policy strictly discourages merchants from relying solely on settlement to fund client orders. Depending solely on settlement can lead to order fulfillment delays due to processing times. We encourage all merchants to have alternative funding mechanisms in place to ensure timely order fulfillment.
Moreover, please be aware that the option for daily settlement may not be immediately available; it depends on your trading history with us. This approach ensures a smoother and more reliable transaction process as you establish a successful trading relationship with our platform.
Additional Prohibitions:
Noncompliance
As a user of Peach Payments’ services based in South Africa, it is imperative to adhere to our compliance guidelines. Our compliance teams may periodically request you to revise your marketing materials or aspects of your user experience to ensure ongoing compliance with relevant national and provincial laws and regulations governing the use of financial products. Failure to meet the requested compliance deadlines could result in the closure of your Peach account.
Dropshipping with Peach Payments
To sign up as a dropshipping merchant with Peach Payments, amongst your normal FICA documentation we will also request additional information to ensure a sustainable relationship.
You will be required to provide:
The following policies should be clearly outlined on your website
Please note the application will be reviewed by our risk team upon receipt of the application and this may take 3-5 business days.
In conclusion, we appreciate your partnership with Peach Payments, and we are committed to providing you with a secure and compliant payment processing experience. If you have any questions or require further clarification regarding high-risk industries or any other aspect of our services, please do not hesitate to contact our dedicated support team.
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