Chapter I General Provisions

1.1 This Agreement is jointly entered into by yumpay and you, and has contractual legal effect. Before using the services provided by yumpay, please read and fully understand all the terms, especially those regarding liability limitation, dispute resolution, and applicable law. Liability limitation clauses may be highlighted in bold, and you should focus on these. You are not entitled to use the services unless you have read and accepted all the terms. By using the services, you signify your agreement to the terms. If you have any questions about the Agreement, please consult our customer service.

Chapter II Definitions

2.1 The following terms are defined as:

• Merchant Account: The account used to log in and operate the merchant platform. After you successfully apply for a Merchant Account, yumpay will send an email to the contact email address specified in this Agreement, informing you of your login account and initial password for the merchant platform. You can modify the initial password in the merchant platform and set a corresponding merchant key for the login account as needed to query and operate your yumpay merchant account.
• Merchant Key: The password used to log in and operate the merchant platform. After you successfully apply for a Merchant Account, yumpay will send an email to the contact email address specified in this Agreement, informing you of your login account and initial password for the merchant platform. You can modify the initial password in the merchant platform and set a corresponding merchant key for the login account as needed to query and operate your yumpay merchant account.
• Settlement: After users purchase your goods or services, yumpay credits the transaction funds to your yumpay merchant account within a certain period and withdraws them to your bank account according to the agreement and your withdrawal settings.
• Withdrawal: yumpay issues a transfer instruction to the reserve fund deposit bank based on your instructions or the agreement, requesting the bank to transfer the corresponding funds to your designated legal collection account.

Chapter III Service Content

3.1 yumpay provides payment services for transactions when users purchase your goods or services, including WAP and H5 payments.

3.2 The service is limited to approved goods/services and transaction limits set by yumpay.

Chapter IV Rights and Obligations of yumpay

• 4.1 yumpay is responsible for the construction, operation, and security of the payment system.
• 4.2 yumpay provides transaction query services and verifies payment instructions using your Merchant Account and password.
• 4.3 yumpay may suspend or terminate services if you violate regulations or engage in illegal activities.
• 4.4 yumpay may delay settlement if suspicious transactions are detected.
• 4.5 yumpay may disclose your commercial information when required by financial regulatory authorities.
• 4.6 yumpay may share your information with service providers, regulatory bodies, and affiliated companies as needed.
• 4.7 yumpay has the right to manage risks by monitoring transactions and may take measures such as delaying settlement and limiting collection amounts.

Chapter V Rights and Obligations of the Merchant

• 5.1 You must provide accurate information when applying for a Merchant Account and promptly notify yumpay of any changes.
• 5.2 You are responsible for the secure use of your Merchant Account and must not share it with others.
• 5.3 You must not store sensitive user information and must properly retain transaction data for at least three years.
• 5.4 You must ensure transactions are based on genuine transactions and comply with all applicable laws and regulations.
• 5.5 You must properly handle payment instructions and are responsible for any losses from failed refunds due to insufficient funds.
• 5.6 You must not infringe on yumpay's intellectual property rights and must use the service in accordance with the agreed scope.
• 5.7 You must ensure the security of your own system and comply with yumpay's technical specifications.
• 5.8 You must retain transaction data and vouchers as required and provide them promptly when requested by yumpay.
• 5.9 If you operate a third-party online trading platform, you must manage the identity and qualifications of secondary merchants and monitor their transactions.
• 5.10 You must take measures to prevent illegal activities such as credit card cashing and money laundering by secondary merchants.
• 5.11 You must not engage in illegal activities such as credit card cashing and money laundering.
• 5.12 You must apply for separate Merchant Accounts for physical and virtual goods/services and must not mix them.
• 5.13 You must not reverse-engineer, crack, or modify yumpay's systems and programs.
• 5.14 You must protect consumers' legitimate rights and interests and must not discriminate based on payment method.
• 5.15 You must comply with other obligations stipulated in the Agreement, such as proper use of equipment and compliance with operational requirements.

Chapter VI Service Fees and Settlement

• 6.1 You must pay yumpay service fees, which are deducted from each transaction. The fee rate is determined by yumpay and may be adjusted based on policies or your business status.
• 6.2 Settlement is made to your designated bank account after deducting service fees. yumpay's data prevails in case of discrepancies.
• 6.3 yumpay may adjust withdrawal cycles based on your business conditions and will notify you by email.

Chapter VII Security Deposit

• 7.1 yumpay may require you to pay a risk deposit, which is frozen in your account and cannot be withdrawn in advance.
• 7.2 yumpay may adjust the deposit amount based on your business conditions and will notify you to top up if needed.
• 7.3 If you have no breaches, the deposit will be unfrozen and returned to you after one year of account cancellation.
• 7.4 yumpay may use your deposit to compensate for losses caused by your breaches or illegal activities.

Chapter VIII Refund Policy

• 8.1 You must have sufficient funds in your Merchant Account for refunds. yumpay will deduct the refund amount from your account. If a refund fails due to bank or user issues, the amount will be returned to your Merchant Account.
• 8.2 No additional handling fees are charged for refunds, but you must bear any bank fees incurred.
• 8.3 You are responsible for resolving any disputes arising from user payment refusals.

Chapter IX Confidentiality

• 9.1 Both parties must keep confidential all contents of the agreement. user information, and technical details unless required by law or regulatory authorities.
• 9.2 yumpay may disclose your commercial information when required by regulatory authorities or for user complaints.
• 9.3 The confidentiality obligation lasts for five years after the Agreement terminates.

Chapter X Liability and Indemnity

• 10.1 You indemnify yumpay against losses from your breach of this Agreement, illegal activities, or failure to manage your account properly.

Chapter XI Account Termination

• 11.1 yumpay may terminate your Merchant Account if you violate this Agreement, engage in illegal activities, or if the Agreement is terminated.

Chapter XII Force Majeure

• 12.1 yumpay is not liable for service failures due to force majeure events such as natural disasters, wars, or government actions.

Chapter XIII Risk Management

• 13.1 You must take reasonable measures to prevent risks in e-commerce transactions and protect user information.

Chapter XIV Intellectual Property

• 14.1 yumpay owns all intellectual property rights related to its services, including trademarks, logos, software, and technical interfaces.

Chapter XV Agreement Amendment

• 15.1 yumpay may modify this Agreement and will notify you through the merchant platform. Continued use of the service indicates your acceptance of the changes.

Chapter XVI Governing Law and Dispute Resolution

• 16.1 This Agreement is governed by the laws of the People's Republic of China. Disputes shall be resolved through friendly consultation; if unsuccessful, litigation may be initiated in the courts with jurisdiction in yumpay's location.

Chapter XVII Agreement Duration and Termination

• 17.1 This Agreement is valid until terminated by either party with one month's written notice. Certain clauses remain effective after termination, including those on confidentiality, refunds, and liability.