Merchant Agreement for Malta

Merchant Agreement Template for Malta

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Merchant Agreement

"I need a Merchant Agreement for my Malta-based online gaming company that will process transactions in multiple currencies, with specific focus on fraud prevention and compliance with gaming regulations, planned to go live by March 2025."

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What is a Merchant Agreement?

The Merchant Agreement serves as the foundational contract governing the relationship between payment service providers and merchants in Malta's growing financial services sector. This agreement is essential for businesses requiring payment processing capabilities, whether operating in physical locations or through digital channels. It outlines the terms and conditions for payment processing services, including transaction handling, settlement procedures, fees, and compliance requirements. The document is specifically tailored to comply with Maltese legal requirements and EU regulations, including the Payment Services Directive 2 (PSD2), GDPR, and local financial services laws. The Merchant Agreement is particularly crucial in Malta's context as a European financial services hub, addressing both traditional and emerging payment processing needs while ensuring regulatory compliance.

What sections should be included in a Merchant Agreement?

1. Parties: Identification of the contracting parties - the payment service provider/acquirer and the merchant

2. Background: Context of the agreement and brief description of the business relationship

3. Definitions: Definitions of key terms used throughout the agreement

4. Services: Detailed description of payment processing and other merchant services to be provided

5. Merchant Obligations: Core obligations of the merchant including operational, security, and compliance requirements

6. Provider Obligations: Core obligations of the payment service provider/acquirer

7. Fees and Payment Terms: Detailed fee structure, payment processing fees, settlement terms, and payment schedules

8. Security Requirements: Security protocols, PCI DSS compliance, and data protection measures

9. Representations and Warranties: Standard representations and warranties from both parties

10. Compliance: Regulatory compliance requirements including AML, KYC, and consumer protection

11. Term and Termination: Duration of agreement and termination provisions

12. Liability and Indemnification: Allocation of risks and indemnification obligations

13. Confidentiality: Protection of confidential information

14. Data Protection: GDPR compliance and data processing terms

15. Dispute Resolution: Process for handling disputes between parties

16. General Provisions: Standard boilerplate clauses including governing law, notices, and assignment

What sections are optional to include in a Merchant Agreement?

1. Integration Services: Technical specifications for integration with payment systems - include if technical integration is part of the service scope

2. Value-Added Services: Additional services beyond basic payment processing - include if offering premium or additional services

3. Multi-Currency Processing: Terms for handling multiple currencies - include if offering multi-currency support

4. Fraud Prevention Services: Specific fraud monitoring and prevention services - include if offering dedicated fraud services

5. Card Present Transactions: Specific terms for physical point-of-sale transactions - include for brick-and-mortar merchants

6. E-commerce Transactions: Specific terms for online transactions - include for online merchants

7. Settlement Currency Options: Terms for settlement in different currencies - include if offering multiple settlement currency options

8. Reserve Requirements: Terms for maintaining a reserve account - include for high-risk merchants or specific business types

What schedules should be included in a Merchant Agreement?

1. Schedule A - Pricing Schedule: Detailed breakdown of all fees, charges, and commission rates

2. Schedule B - Service Level Agreement: Detailed service levels, performance metrics, and response times

3. Schedule C - Technical Integration Requirements: Technical specifications and integration requirements

4. Schedule D - Security Standards: Detailed security requirements and PCI DSS compliance obligations

5. Schedule E - Prohibited Activities: List of prohibited merchant activities and restricted business types

6. Schedule F - Data Processing Agreement: Detailed terms for GDPR compliance and data processing

7. Appendix 1 - Merchant Application Form: Standard merchant application form with business details

8. Appendix 2 - Required Documentation: List of required merchant documentation and compliance certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Retail

E-commerce

Hospitality

Travel and Tourism

Financial Services

Technology

Entertainment

Professional Services

Healthcare

Education

Food and Beverage

Telecommunications

Digital Services

Gaming and Gambling

Transportation

Relevant Teams

Legal

Finance

Compliance

Operations

Risk Management

Treasury

Commercial

Business Development

Merchant Services

Payment Operations

Account Management

Technical Integration

Customer Support

Audit

Product Management

Relevant Roles

Chief Financial Officer

Finance Director

Payment Operations Manager

Compliance Officer

Legal Counsel

Commercial Director

Business Development Manager

Operations Manager

Risk Manager

Treasury Manager

Merchant Services Director

E-commerce Manager

Retail Operations Director

Financial Controller

Payment Solutions Specialist

Accounts Receivable Manager

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