These terms of service govern your use of FractionalPay, the website at fractionalpay.com, the dashboard and the API (together, the "Service"), provided by the administrator of the fractionalpay.com service ("we", "us"). By creating an account or paying for a plan you accept these terms on behalf of the business you represent. The Service is intended for businesses, not for consumers acting outside their trade.
1. What the Service does
FractionalPay is software: a rules, ledger and orchestration layer for splitting payments. It reads payment events from the platform account you hold at a licensed payment operator, applies the split rules you define, records the result in a double-entry ledger, schedules payouts, sends payout instructions to your operator account and reconciles balances.
2. What the Service does not do
- We do not hold funds. Money moves only through your own account at your payment operator. At no point is it received, held or transmitted by us.
- We are not a payment institution, bank or money transmitter. The licensed operator you connect is responsible for moving money.
- You keep your own operator account and all obligations attached to it, including the operator's terms, its licence requirements and its fees.
- You are responsible for verifying your beneficiaries (KYC and KYB) at your operator, and for the agreements you have with them.
- You are responsible for tax compliance, including tax forms, withholding, VAT and reporting. Tax data features help you collect and organise information, they are not tax advice.
- The amounts and rules you configure are your decisions. We execute them as configured.
3. Accounts
You must give accurate information, keep your password and API keys secret and make sure that everyone you invite follows these terms. You are responsible for activity under your account and keys. Tell us at once at [email protected] if you suspect unauthorised access.
4. Demo
Before buying you can use the split simulator and a sandbox workspace with demo data once per account. The demo has no live connection and no payouts, and it does not renew.
5. Plans, subscriptions and payment
- Plans, prices and limits are those shown on the pricing page at the time of purchase. Prices are in USD and exclude taxes, which are added where required.
- Subscriptions renew automatically at the end of each monthly or yearly period until you cancel.
- Upgrades take effect immediately. When you move to a higher plan or from monthly to yearly billing, the prorated difference for the rest of the current period is charged at once, and the higher limits apply after that payment succeeds.
- Downgrades take effect at the end of the paid period. No credit is given for the remaining time.
- Cancel anytime from the billing portal in the dashboard. Cancelling stops the next renewal and your plan stays active until the end of the paid period.
- Limits are counted as usage in the billing period. Deleting a rule, beneficiary or other record does not reduce the usage meter, which resets with the next period.
- FractionalPay charges no transaction fees. Your payment operator's fees are separate and are charged by the operator.
- Payments are final. Refunds are given only in the cases listed in the refund policy, which is part of these terms.
- If a payment fails we retry it. If it remains unpaid, paid features may be suspended until it is settled.
6. Uptime commitment on Scale
For workspaces on the Scale plan we commit to 99.9 percent monthly availability of the dashboard and API, excluding scheduled maintenance announced in advance, and outages caused by your payment operator, your systems, your internet connection or events beyond our reasonable control. If availability in a calendar month falls below 99.9 percent, you may request a service credit within 30 days after the end of that month: 10 percent of that month's subscription fee below 99.9 percent, and 25 percent below 99.0 percent. Service credits are applied to future invoices, are not paid in cash and are your sole remedy for unavailability.
7. Acceptable use
You may not use the Service to:
- process payments for illegal goods or services, or for any business your payment operator does not allow,
- launder money, finance terrorism or evade sanctions,
- split funds to beneficiaries you have not verified as your operator requires,
- attack, overload, scan or reverse engineer the Service, or access data that is not yours,
- resell the Service as your own product without our written consent.
We may suspend access immediately when we reasonably believe the Service is being used in breach of this section or of the law, and we will tell you why unless the law forbids it.
8. Your data
You own the data you put into the Service. You grant us the rights needed to host, process and display it to provide the Service. We process personal data as described in the privacy policy, and as your processor where it concerns your customers and beneficiaries. You can export your data from the dashboard at any time, and for 30 days after your account ends.
9. Availability and changes
We improve the Service continuously. We may change features, provided that a paid plan does not lose a core feature during a period you have already paid for. We announce material changes to these terms by email at least 14 days before they apply. If you do not accept a change, you can cancel before it takes effect.
10. Limitation of liability
The Service calculates and records splits according to your configuration. To the extent permitted by law, we are not liable for indirect or consequential losses, lost profits, lost revenue or lost data, or for losses caused by your payment operator, your configuration or your beneficiaries. Our total liability in any 12 months is limited to the fees you paid us in those 12 months. Nothing in these terms limits liability that cannot be limited by law, such as liability for intent or gross negligence.
11. Termination
You can close your account at any time. We may terminate these terms with 30 days' notice, or immediately for a serious breach, including non-payment or a breach of section 7. Sections that by their nature should survive termination, such as sections 2, 5, 8 and 10, continue to apply.
12. Chargebacks
If you dispute a charge with your bank without first contacting us at [email protected], we treat it as a breach of these terms and may close the account.
13. Governing law and disputes
These terms are governed by the law of the country where the administrator of the fractionalpay.com service has its registered seat, without regard to its conflict of law rules. Disputes are resolved by the competent courts of that place, unless mandatory law gives you a different forum. We will always try to resolve an issue by email first.
14. Contact
Write to [email protected] for any question about these terms.