This article explains what payment contracts are and the different possibilities in relation with Smeetz
1. Payment contracts
A payment contract is a legally binding buyer-seller agreement, which is designated to protect both parties. Smeetz has an overall established payment contract with a PSP, from which organisers can also benefit.
PSP: (Payment service provider) enables third parties to accept online payments, usually by credit card. The PSP relies on acquiring banks that guarantee access to the payment network.
Organisers can choose between being under Smeetz payment contract or to have their own contract with a PSP.
2. Using Smeetz payment contracts
There are a few points to take into consideration if organizers want to use our own payment contracts:
- This saves small/medium size companies a lot of time, since they have no need to negotiate with PSP's
- It provides a wide range of payment methods for their clients
- The organizer-negotiated commission might be higher than the Smeetz one
3. Using your own payment contracts
It is also possible for companies that already have/want to have their own payment contract with a PSP to go by their own contract terms. By doing so, Smeetz will allow the organizer to conform to their own payment contract instead of channeling payments through the Smeetz payment contract.
- It is more profitable and easier to use their own contract
- The commission paid is lower
- Convenient for big companies
Smeetz does not accept to implement this with already existing customers. Please contact us for further information.
If you are interested in having your own payment contract, please contact us directly at firstname.lastname@example.org or by phone: +41 21 588 19 26