Terms & policies
Applies to every Payfjord user.
Draft — needs review by a lawyer. The text below was written by the engineering team to describe accurately how the system works. It is not vetted legal drafting. Have a lawyer review it before opening the service to real users — particularly the scope of crypto-asset regulation in Vietnam.
1. What the service is
Payfjord is a public blockchain monitoring service and forwards the result to the customer's system. Payfjord does not receive, hold, manage or move USDT or any other crypto asset belonging to end users.
Customers enter their own wallet addresses. Buyer funds move directly from the buyer's wallet to the customer's wallet, never through an intermediary wallet controlled by Payfjord. Payfjord does not hold customer private keys.
2. Exception: credit balance
Credit is a prepayment for using the service, and the only asset Payfjord ever receives. It pays service fees, is not merchandise revenue, and is not convertible back into cash.
3. Customer responsibilities
Customers are responsible for the accuracy of the wallet addresses they enter. Money lost to a wrong address cannot be recovered, by Payfjord or anyone else.
Customers must make their callback handling idempotent. Payfjord retries callbacks until it gets a successful response; the customer's system must check request_id before recording anything.
Customers are responsible for complying with the law where they operate, including tax obligations and crypto-asset regulations.
4. Limitation of liability
Chain data comes from third-party providers. Payfjord does not warrant uninterrupted service and is not liable for indirect losses arising from delays or outages at those data sources.
Payments that match no invoice (late transfers, wrong amounts) are listed in the dashboard for the customer to handle. Payfjord neither credits them automatically nor takes responsibility for reconciling on the customer's behalf.
5. Credit refunds
Unused credit is refundable if Payfjord discontinues the service. Refund requests must be made within the window announced at that time.
Accounts suspended for using the service unlawfully are not eligible for a credit refund.
6. Personal data
Payfjord stores your email, a hashed password, and the transaction data needed to run the service. Third-party API secrets (Binance Merchant, for instance) are encrypted with AES-256-GCM before storage.
Payfjord does not sell customer data to third parties.