Wushack Payments Policy
Wushack Payments allows buyers and sellers to use various forms of payments on Wushack.com, and Wushack’s mobile apps and other services. Wushack Payments users can pay with and accept payment by credit card, debit card, Wushack Gift Card, Wushack Credit, some bank transfer services, PayPal (where available), and some country-specific instalment payment methods – all in their domestic Wushack Payments currencies. This policy explains all of your rights and obligations when using Wushack Payments.
- Accepting These Terms
- Third-Party Services
- Wushack’s Rights and Responsibilities
- Seller Rights and Responsibilities
- Appointment of Wushack as Limited Payment Collection Agent for Sellers
- Payment Processing Fees
- Reporting Obligations
1. Accepting These Terms
The Wushack Payments Policy (or the “Policy”) sets out your rights and responsibilities when you use Wushack Payments on Wushack’s services (we’ll refer to Wushack.com, Wushack’s mobile apps, and other services as our “Services”), so please read it carefully. By using Wushack Payments, you’re agreeing to the Policy.
The Policy is a legally binding contract between you and Wushack. If you live in North America or South America, the contract is between you and Wushack; if you live elsewhere, the contract is between you and Wushack, We’ll just refer to Wushack.
Wushack Payments allows sellers to (a) accept payment by authorized credit and debit card transactions, some bank transfers services, PayPal (where available), transactions using Apple Pay, and transactions using Google Pay, (b) have those funds credited to a seller’s payment account with Wushack, and (c) have those funds deposited into a seller’s designated bank account. Wushack reserves the right to add or remove payment methods accepted by Wushack Payments in its sole discretion, with notice where required by applicable law.
Wushack Payments is only available to sellers who are at least 18 years old who register and are approved for a payment account with Wushack. Wushack Payments is currently available to sellers in Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Indonesia, Ireland, Israel, Italy, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Morocco, Netherlands, New Zealand, Norway, Philippines, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States and Vietnam.
Sellers may only use Wushack Payments for the sale of items listed on Wushack’s Services, and agree to ship sold items once a payment transaction is complete and reflected in their payment account. Wushack reserves the right to terminate a seller’s access to Wushack Payments if the seller uses Wushack Payments in any other manner.
Buyers may authorize a payment with any major credit or debit card accepted by Wushack, with Wushack Gift Cards and Wushack Credits, by certain bank transfer services, through PayPal (where available), Apple Pay, Google Pay.
Buyers and Sellers benefit from Wushack having visibility into payments made on Wushack via Wushack Payments, because it can make the Services easy to use and enables Wushack to more effectively provide support to sellers or buyers where relevant. It also can help reduce fraud and other types of misuse of the Wushack platform.
3. Third-Party Services
Wushack has engaged third-party service providers to perform many of the services related to payment processing, including card processing, disbursements, currency exchange, identity verification, fraud analysis, and regulatory compliance.
Wushack partners with PayPal, and other licensed payment providers to facilitate card payments and other payments and the disbursement of funds to sellers. The provider and processing time for your payment will vary based on the country in which you’re located. If there are insufficient funds in your bank account when our provider processes the payment for your purchase, Wushack reserves the right to contact you directly and to seek payment.
Wushack may share your personal or transactional information with those third-party service providers for purposes related to payments processing.
Wushack Gift Cards and Wushack Credits are subject to the Wushack Gift Cards & Wushack Credits Policy
By using a third-party service, you may also be subject to an agreement with the third party. For example, PayPal is a third-party service provided by PayPal Holdings, Inc. and is subject to the PayPal User Agreement.
If Etsy receives notice that your shop’s content or activity violates a third party’s service agreement, we may at our sole discretion take action against your account to comply with their policies. Such actions may include canceling a transaction, disabling listings from your shop, suspending or terminating your selling privileges, or removing certain payment methods.
Wushack supports two versions of PayPal: integrated PayPal and standalone PayPal.
Integrated PayPal. In countries where PayPal is available and can be integrated with Wushack Payments, Integrated PayPal allows sellers to receive funds from PayPal purchases directly into their Wushack payment account, without the need to manage a separate PayPal account. This means that if a buyer pays with PayPal, the funds from the order will be credited to a seller’s payment account along with the rest of the orders. The standard Wushack Payments Payment Processing Fee (described below) applies to orders that go through integrated PayPal; there is no additional PayPal fee.
Standalone PayPal. Standalone PayPal exists only for sellers in countries that are not yet eligible for Wushack Payments and/or, in Wushack’s discretion, in some markets where it’s not an Wushack requirement to use Wushack Payments. Standalone PayPal will not be available to new sellers who join Wushack if Wushack Payments is available in that seller’s country. If this is the case, the seller will be required to register on Wushack Payments as part of their onboarding to Wushack. For sellers accepting standalone PayPal, you will receive funds from PayPal purchases directly into your PayPal account. Sellers who accept standalone PayPal will continue to pay PayPal fees. Orders paid through standalone PayPal are not covered by Wushack’s Seller Protection Program. Wushack reserves the right to allow certain sellers in countries that are eligible for Wushack Payments to also use Standalone PayPal for a limited time. Please note, during this transition period, it may be necessary for Wushack to process some PayPal transactions through integrated PayPal. For example, if a buyer chooses to pay with an Wushack Gift Card or Wushack Credit and covers the remaining balance using PayPal, Wushack can only process the transaction through integrated PayPal. Similarly, if a buyer purchases items from multiple shops in a single transaction and chooses PayPal as the payment method, Wushack may have to process the transaction through integrated PayPal.
4. Wushack’s Rights and Responsibilities
As a security measure, we may impose transaction limits on buyers and sellers. For example, we may impose limits relating to the value of any transaction, deposit, or adjustment, or limits relating to the cumulative value of all transactions, deposits, or adjustments during a period of time. We may also impose limits related to the number of transactions per day or other period of time. We will not be liable to a seller: (a) if we do not proceed with a transaction, deposit, or adjustment that would exceed any limit established by us, or (b) if we permit a buyer to withdraw from a transaction.
Wushack may refuse service of Wushack Payments to anyone, for any reason, at any time.
In the event that a buyer does not make payment for the purchase of a legitimate item sold using Wushack Payments (e.g., where the buyer used a stolen or unauthorized credit card), Wushack may provide limited payment protection to the seller, in the interest of fairness. You can learn more about our Seller Protection Program here.
Wushack will send you any relevant notices regarding your use of Wushack Payments in accordance with our Electronic Communications Policy.
5. Seller Rights and Responsibilities
A. Use of Wushack Payments. If you live in a country in which Wushack Payments is available, you are required to sign up for Wushack Payments, except as otherwise determined by Wushack in its sole discretion. Using Wushack Payments will result in your shop accepting payment through authorized credit and debit card transactions, some bank transfer services, PayPal, Apple Pay, and Google Pay. For you to sign up for Wushack Payments and receive payment for transactions made through Wushack Payments, you must provide all required information and complete all required steps, including in some markets, verifying your bank account, for compliance purposes. Without this information, Wushack cannot pay you! If you live in a country in which Wushack Payments is available and you do not provide Wushack with this information, Wushack may refuse you access to the Services until you do so.
B. Payment Accounts. A payment account allows sellers to track payment amounts, refunds, and fees related to transactions and seller services. Sellers must provide accurate personal information as requested during registration, and are responsible for maintaining and updating that information as necessary. Sellers will not impersonate any person or use any name they are not legally authorized to use. Sellers authorize us, and authorized agents, to verify their information (at registration and on occasion when using the Services) by accessing public records and obtaining credit reports about the sellers. Wushack verifies sellers’ information in order to safeguard the integrity of the marketplace and reduce the risk of fraud, money laundering, terrorist financing, and the violation of trade sanctions.
Payment accounts are only available to individuals who are eligible to be sellers on Wushack’s Services and who have a valid credit or debit card on file with Wushack, unless they are exempt from this requirement. Sellers who have bank accounts established in Austria, Germany, and the Netherlands are not required to have a credit card on file with Wushack to have a payment account.
In the event that a buyer submits a chargeback, Wushack will respond to the credit card networks on behalf of the seller involved in the transaction; the seller agrees to provide any requested information to us within five calendar days of the request. Wushack reserves the right to recoup funds associated with buyer chargebacks from the seller.
D. Communications. We will inform sellers of each transaction, or of other information pertaining to Wushack Payments, using our standard communication procedures (detailed in our Electronic Communications Policy), including by email or through Wushack’s Messages tool.
E. Refunds. Refunds or adjustments paid by Wushack to buyers for payments made through Wushack Payments may be initiated using the refund functionality in the seller’s payment account for a period of 180 days after the purchase was made. The Wushack Payments Platform does not have refund functionality after 180 days from the original purchase date. Any such funds paid by Wushack to cover refunds will be deducted from the seller’s payment account balance. If there are insufficient funds to cover the amount of the refund, the balance will be charged to the seller’s card on file or added to the seller’s payment account. Refunds issued by Wushack will be in the original form of payment, and if such payment is not available, an Wushack credit will be issued.
Fully refunded transactions may be eligible for cancellation in accordance with our Cancellation Policy.
F. International Trade Laws. You agree that your use of Wushack Payments will not involve any countries, entities, individuals, or items prohibited by sanctions, embargoes, regulations, or orders administered by the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) or other government agencies. See our Sanctions Policy for more information.
G. Information on Cardholder Charges. Please note that your bank or card provider may charge additional fees (including cross-border fees) for transactions that you make on Wushack. These fees are not charged by Wushack and are at the discretion of your bank. Please contact your bank for further details.
6. Appointment of Wushack as Limited Collection Agent for Sellers
Each seller appoints Wushack as its agent for the limited purpose of receiving, holding, and settling payments to seller. Wushack will settle payments that are actually received by Wushack to each seller, less any amounts owed to Wushack and subject to these Terms. Each seller agrees that a buyer payment received by Wushack, on behalf of seller, satisfies the buyer’s obligations to make payment to seller, regardless of whether Wushack actually settles such payment to seller. If Wushack does not settle any such payments as described in these Terms to a seller, such seller will have recourse only against Wushack and not the buyer.
A. Payment Account. All funds resulting from a completed transaction will be reflected as a balance in a seller’s payment account. Transactions are considered complete at the later of once the payment is approved by Wushack or our fraud analysis service provider. Any refunds, adjustments, or other amounts paid to buyers in connection with purchases, or for funds received since the last payment day, are also applied to the seller’s payment account balance.
Funds displayed in a seller’s payment account balance are eligible for deposit (the “Available Funds”) into a seller’s bank account at the end of any applicable deposit delay, reserve, or hold period as determined by the seller’s bank. For deposits below designated thresholds in certain markets, a deposit fee will apply. See Section 9 below for details on deposit fees. A deposit minimum also applies to deposits in certain markets. Funds will only be available for deposit if they exceed the applicable deposit minimum.
B. Country and Currency Options. Available Funds can only be deposited into bank accounts, in the domestic currency of the account, in the United States, Australia, Canada, the European Union, Hong Kong, Indonesia, Israel, Malaysia, Mexico, Morocco, New Zealand, Norway, Philippines, Singapore, South Africa, Switzerland, Turkey, and Vietnam in the following currencies: US Dollars (USD), Australian Dollars (AUD), Canadian Dollars (CAD), Swiss Francs (CHF), Danish Krone (DKK), Euros (EUR), British Pounds (GBP), Hong Kong Dollars (HKD), Indonesian Rupiah (IDR), Israeli Shekel (ILS), Moroccan Dirham (MAD), Mexican Peso (MXN), Malaysian Ringgit (MYR), New Zealand Dollars (NZD), Norwegian Krone (NOK), Philippine Peso (PHP), Swedish Krona (SEK), Singapore Dollars (SGD), Turkish Lira (TRY), South African Rand (ZAR), and Vietnamese Dong (VND).
C. Scheduled Deposits. Wushack will instruct our payments partners to initiate a deposit of a seller’s Available Funds into the seller’s bank account on a daily, weekly, biweekly, or monthly basis. Sellers can select the frequency of disbursements from their payment account in their account settings. When a seller selects daily disbursements, disbursements will be made on each day that the seller’s payment account has a balance equal to or greater than the minimum daily disbursement thresholds listed below. When a seller selects weekly, biweekly, or monthly disbursements, disbursements will be made on every applicable Monday. In this policy we’ll refer to the date of disbursement as the “Payment Date.” Deposits into a seller’s bank account will generally be credited within three (3) to five (5) business days from the date Wushack initiates the deposit request. The actual timing of the deposit may depend on how quickly a seller’s bank processes the request.
Daily Disbursement Thresholds by Currency:
Disbursement Minimums by Country:
The Payment Date will fall on the next business day (Monday through Friday, excluding bank holidays) if the scheduled Payment Date falls on a non-business day. If a seller elects to change the frequency of disbursements, the following deposit will be initiated on the next business day if the seller selects daily disbursements, or on the next applicable Monday if the seller selects weekly, biweekly, or monthly disbursements. When a seller either initially provides or later changes their bank account information, the seller must wait at least five (5) calendar days to request a deposit into a bank account as a security precaution. The next scheduled deposit after a change to bank account information will occur on the next applicable Payment Date after a period of five (5) calendar days from the date of the requested change.
D. Holds and Delays. In some cases, deposits to a seller’s bank accounts could be temporarily delayed by an issue at Wushack, Wushack’s third-party service providers, or a seller’s bank. We’ll do our best to communicate with any affected seller as soon as we can.
If we believe that a seller’s actions may result in buyer disputes, chargebacks, or other claims, then we may, in our sole discretion, put a hold, deposit delay, reserve on the seller’s payment account balance.
A hold may be put on funds associated with a particular transaction if there is a dispute or investigation related to the order, for the shorter of: (a) 180 days after the estimated delivery date, or (b) completion of any investigation regarding the seller’s actions.
Deposit delays are defined as the number of days between a sale and the day the net amount from the sale becomes available for deposit, provided the payment has been completed. A deposit delay may be between 0 and 180 days. A deposit delay is applied across all transactions for a seller and the number of days is reflected in each seller’s payment account.
A reserve is defined as a fixed percentage of a seller’s payment account balance (i) delayed prior to being included as part of a seller’s Available Funds for a period of up to 180 days or (ii) deducted from a seller’s payment account as a reserve for a period of up to 90 days.
If Wushack places a hold, deposit delay, or reserve on a seller’s account, we’ll do our best to communicate with the affected seller as soon as we can.
We always work hard to avoid and minimize any delays. However, please note that Wushack is not obligated to refund any fees or reimburse any expenses due to holds or delayed deposits.
A. We reserve the right, in our sole discretion, to seek reimbursement from a seller in any of the following circumstances: (a) we provide a refund to a buyer because a seller did not promptly deliver the goods or we otherwise determine, consistent with Section 5 (Seller Rights and Responsibilities], that a refund is warranted in a particular circumstance, (b) we discover erroneous or duplicate transactions related to a seller, (c) we receive a chargeback from a buyer’s credit card issuer or reversal of payment for the amount of a buyer’s purchase from a seller, or (d) a seller does not act in accordance with Wushack’s policies.
B. We may obtain reimbursement of any amounts owed by a seller to Wushack by deducting from future payments owed to the seller, reversing any credits to the seller’s payment account balance, charging the seller’s card on file, charging the seller’s payment account, or seeking reimbursement from the seller by any other lawful means, including by using third-party collections services. You authorize us to use any or all of the foregoing methods to seek reimbursement. Wushack may suspend your selling privileges at any time pending payment of your outstanding balance.
9. Payment Processing Fees
A. Overview. Wushack charges a fee (the “Payment Processing Fee”) for processing each transaction through Wushack Payments. The fee amount will be assessed on the gross order amount, including shipping and tax (if applicable). Payment Processing Fees will be reflected in your payment account and will be deducted from the total amount of the payment at the time the payment is considered complete. We reserve the right to modify the Payment Processing Fee at any time. For deposits below designated thresholds in certain markets, a deposit fee will apply, as described in the table below. Deposit fees are deducted from your Available Funds and reflected in your payment account at the time of your scheduled deposit. In the event of any partial or full refunds credited back to a buyer, the Payment Processing Fee and other applicable fees will be recalculated based on the adjusted sale price. The difference between the original Payment Processing Fee and the adjusted Payment Processing Fee will be applied to the refund amount being credited back to the seller. Other applicable fees will be refunded to the seller’s payment account. Deposit fees will be refunded if the deposit is returned to a seller’s payment account.
B. Fee Amount. Payment Processing Fees vary based on the location of a seller’s bank account. Please see this chart for further details:
|Location of Bank Account||Wushack Payments Fees (% of total sale price + flat fee per order) exclusive of VAT, where applicable||Deposit fee where applicable (exclusive of VAT, where applicable)|
|Australia (domestic orders)||4% + 0.25 AUD|
|Australia (international orders)||4% + 0.25 AUD|
|Austria||4% + 0.30 EUR|
|Belgium||4% + 0.30 EUR|
|Bulgaria||4% + 0.30 EUR|
|Canada (domestic orders; orders from the US)||4% + 0.25 CAD|
|Canada (international orders)||4% + 0.25 CAD|
|Croatia||4% + 0.30 EUR|
|Cyprus||4% + 0.30 EUR|
|Czech Republic||4% + 0.30 EUR|
|Denmark||4% + 2.50 DKK|
|Estonia||4% + 0.30 EUR|
|Finland||4% + 0.30 EUR|
|France||4% + 0.30 EUR|
|Germany||4% + 0.30 EUR|
|Greece||4% + 0.30 EUR|
|Hong Kong||4.4% + 2.00 HKD|
|Hungary||4% + 0.30 EUR|
|Indonesia||4.5% + 7,000 IDR||28,000.00 IDR for deposits less than 1,400,000.00 IDR|
|Ireland||4% + 0.30 EUR|
|Israel||4.5% + 2.00 ILS||7.00 ILS for deposits less than 350.00 ILS|
|Italy||4% + 0.30 EUR|
|Latvia||4% + 0.30 EUR|
|Lithuania||4% + 0.30 EUR|
|Luxembourg||4% + 0.30 EUR|
|Malaysia||4.5% + 2.00 MYR||8.00 MYR for deposits less than 400.00 MYR|
|Malta||4% + 0.30 EUR|
|Mexico||4.5% + 10.00 MXN||40.00 MXN for deposits less than 2000.00 MXN|
|Morocco||4.5% + 5.00 MAD||20.00 MAD for deposits less than 1000.00 MAD|
|Netherlands||4% + 0.30 EUR|
|New Zealand (domestic orders)||3% + 0.30 NZD|
|New Zealand (international orders)||4% + 0.30 NZD|
|Norway||4% + 2.50 NOK|
|Philippines||4.5% + 25 PHP||100.00 PHP for deposits less than 5,000.00 PHP|
|Poland||4% + 0.30 EUR|
|Portugal||4% + 0.30 EUR|
|Romania||4% + 0.30 EUR|
|Singapore||4.4% + 0.35 SGD|
|Slovakia||4% + 0.30 EUR|
|Slovenia||4% + 0.30 EUR|
|South Africa||4.5% + 8.00 ZAR||30.00 ZAR for deposits less than 1,500.00 ZAR|
|Spain||4% + 0.30 EUR|
|Sweden||4% + 3.00 SEK|
|Switzerland||4% + 0.50 CHF|
|Turkey||6.5% + 3.00 TRY||42.00 TRY for deposits less than 600.00 TRY|
|United Kingdom||4% + 0.20 GBP|
|United States||4% + 0.30 USD|
|Vietnam||4.5% + 11,550 VND||45,000 VND for deposits less than 45,000 VND|
C. Listing Currency Conversion Considerations for Sellers. When a seller lists and subsequently sells an item in a currency other than the currency of the seller’s payment account, Wushack will settle the associated transaction proceeds in the currency of the seller’s payment account. When such a service is required, Wushack applies an additional 2.5% currency conversion fee. Calculation rates are updated regularly.
D. Value-Added Tax (VAT). Depending on your business status and location, Wushack may be required to charge VAT on seller fees accrued each month and remit it to the relevant tax authority. VAT is collected on Wushack Payments processing fees for sellers located in eligible Wushack Payments countries where required. To learn more about how VAT works on Wushack, see this Help article.
E. Browsing Currency Considerations for Buyers. In the case of a buyer purchasing from a seller who lists in a currency other than the buyer’s browsing currency, Wushack will automatically calculate the listing price in the buyer’s browsing currency. If a seller chooses to show rounded prices to buyers browsing the site in a currency other than the seller’s listing price, Wushack will calculate the listing price in the buyer’s browsing currency and round it in accordance with the rounding rules. Wushack will display the rounded price to a buyer in the buyer’s browsing currency. When such a calculation is required, Wushack applies an additional currency conversion charge. Calculation rates are updated regularly.
F. Interest. In the United States, Wushack may earn interest (or other compensation) from the balances in our bank accounts because of the timing difference between our being paid by buyers and our paying sellers (when our bank account is being debited to pay Available Funds in payment accounts to sellers).
10. Reporting Obligations
Internal Revenue Service regulations require that we file a Form 1099-K to report unadjusted annual gross sales information for sellers located in the United States or being paid in USD in certain circumstances. Please see this Help article for more details.
To comply with these regulations, sellers who approach 150 (one hundred and fifty) transactions in a calendar year, regardless of sales volume and aggregated across his or her Shops, will be required to provide taxpayer-identification information to Wushack.
Wushack is also required to report tax information to local tax authorities in certain countries outside the US. These reporting obligations are triggered when sellers make sales via Wushack to buyers in those countries and the sales (in the aggregate) exceed the applicable VAT or local tax threshold (which may be based on transactions or sales value) in a calendar year.
To comply with these reporting obligations, Wushack requires that you add your taxpayer name and VAT ID to your Wushack shop as you approach the VAT sales threshold or local reportable threshold in the relevant country or countries. You can read more information on how Wushack will notify you that you’re approaching, or have reached, the applicable local threshold and the countries to which these requirements apply here. Your Wushack selling privileges may be suspended until you provide this information.
Sellers may terminate this contract and their acceptance of Wushack Payments at any time by adjusting the Settings in their account with Wushack. Wushack may also terminate or suspend a seller’s use of Wushack Payments at any time.
Upon termination, any non-disputed Available Funds will be deposited into a seller’s bank account. Wushack reserves the right, upon termination of access to Wushack Payments, to set off against any payments to be made to the seller, an amount determined by us to be adequate to cover any anticipated chargebacks, refunds, adjustments, or other amounts that might be paid to buyers in connection with purchases from the seller’s payment account for a prospective 180-day period. At the end of the 180-day period following termination, we will disburse to the seller any amount not used to offset chargebacks, refunds, adjustments, or such other amounts paid to buyers, or seek reimbursement from the seller via any of the means authorized in this Policy for any additional amount required to offset chargebacks, refunds, adjustments, or other amounts paid to buyers, as applicable.
Last updated on January 11, 2021