Payment & Wallet Terms

1. Introduction

These Payment and Wallet Terms ("Payment Terms") govern all financial transactions conducted through the Avely Platform, including buyer payments, seller wallet balances, commission deductions, and payout procedures. These Payment Terms form part of and must be read alongside Avely's Terms of Service and Seller Agreement.

By making or receiving payments through the Platform, you agree to these Payment Terms and to the terms and conditions of Stripe, Avely's third-party payment processor.

2. Payment Processor — Stripe Connect

2.1 Stripe Integration

Avely uses Stripe Connect, a payment processing platform operated by Stripe, Inc., to process all buyer payments, manage seller wallet balances, facilitate automatic commission splits, and process seller payouts.

2.2 Stripe as Independent Processor

Stripe operates as an independent payment processor and is not an agent of Avely. By using the Platform's payment features, you acknowledge and agree to be bound by Stripe's applicable terms in addition to these Payment Terms.

2.3 Stripe KYC Requirements

To receive payouts as a seller, you must complete Stripe's identity verification (Know Your Customer) process. Avely cannot facilitate payouts to sellers who have not successfully completed Stripe's KYC process. Avely is not responsible for any delays or rejections arising from Stripe's KYC procedures.

3. Buyer Payment Process

3.1 How Buyers Pay

Buyers complete purchases using payment methods accepted through Stripe, which may include major credit cards, debit cards, and other payment instruments made available by Stripe in your region.

3.2 Currency

All transactions are processed in Israeli New Shekel (ILS / ₪) unless otherwise indicated on the Platform. Buyers paying from international payment methods may be subject to foreign exchange conversion charges applied by their payment provider. Avely is not responsible for such charges.

3.3 Secure Payment

Avely does not store full payment card details on its own systems. All payment data is securely handled by Stripe in compliance with Payment Card Industry Data Security Standards (PCI DSS).

4. Platform Commission Structure

4.1 Commission Rate

Avely charges a commission of 15% of the total transaction value on each completed transaction (inclusive of any applicable taxes charged to the buyer).

4.2 Automatic Deduction

Commission is automatically deducted from each transaction at the point of sale by Stripe Connect before the net proceeds are credited to the seller's wallet balance.

4.3 Example Transaction

4.4 Commission on Refunded Transactions

In the event of a full refund issued to a buyer due to seller fault, the commission charged on the original transaction may be refunded to the seller's wallet at Avely's discretion. Where a refund is due to buyer-initiated cancellation without seller fault, the commission is non-refundable.

4.5 Changes to Commission Rates

Avely reserves the right to modify its commission rates. Sellers will be notified no less than 30 days in advance of any commission rate changes. Continued use of the Platform following the effective date constitutes acceptance of the revised rate.

5. Seller Wallet

5.1 Seller Wallet Balance

Each registered seller has a Stripe connected account (the "seller wallet") which holds earned proceeds from completed sales, net of platform commission.

5.2 Wallet Credits

Net proceeds from a completed sale are credited to the seller's wallet balance after the transaction is confirmed, the applicable commission has been deducted, and any applicable dispute hold period has passed.

5.3 Wallet Currency

Wallet balances are denominated in Israeli New Shekel (ILS / ₪) unless Stripe applies a different settlement currency based on the seller's registered jurisdiction.

5.4 Dispute Hold Period

Proceeds from a sale may be subject to a hold period of up to 7 days after order confirmation, or until any open dispute is resolved, whichever is later.

6. Payout Procedures

6.1 Payout Eligibility

To initiate a payout, sellers must have successfully completed Stripe's KYC identity verification, have a wallet balance meeting or exceeding Stripe's minimum payout threshold, and have a linked, verified bank account in good standing.

6.2 Payout Schedule

Payouts are subject to Stripe's standard payout schedule, which typically processes transfers within 2 to 7 business days following the request. Avely cannot accelerate payout timelines determined by Stripe.

6.3 Payout Request

Sellers may initiate a payout from within their seller account dashboard, subject to wallet balance availability and eligibility criteria.

6.4 Payout Fees

Stripe may charge processing fees for payouts or currency conversions. These fees, where applicable, will be clearly disclosed within your Stripe dashboard and deducted from your payout amount.

6.5 Failed Payouts

If a payout fails due to incorrect bank account information, account restrictions, or any other reason attributable to the seller or their bank, the seller is responsible for correcting the issue. Avely is not liable for payout failures outside of its control.

7. Chargebacks and Payment Disputes

7.1 Chargeback Responsibility

A chargeback occurs when a buyer disputes a charge with their card issuer. In the event of a chargeback:

• Stripe will notify Avely and may temporarily freeze the disputed funds;
• Avely will notify the seller and request available evidence to contest the chargeback;
• The seller must provide evidence within the timeframe specified by Stripe;
• If the chargeback is upheld, the disputed amount will be deducted from the seller's wallet balance;
• An additional chargeback processing fee (as determined by Stripe) may also be deducted.

7.2 High Chargeback Rates

Sellers with persistently high chargeback rates may be subject to additional scrutiny, account restrictions, or termination, consistent with Stripe's requirements and Avely's platform integrity policies.

8. Fraud Prevention and Account Holds

8.1 Fraud Detection

Avely and Stripe employ automated fraud detection systems. Transactions flagged as potentially fraudulent may be held pending review. Avely reserves the right to cancel or reverse transactions found to be fraudulent.

8.2 Account Holds

Avely or Stripe may place a temporary hold on a seller's wallet balance where fraudulent activity is suspected, an unusual volume of disputes or chargebacks is detected, or a legal obligation requires the funds to be preserved. Avely will notify the affected seller of a balance hold where permissible by law.

8.3 No Interest on Held Balances

Avely does not pay interest on held or uninstructed wallet balances.

9. Dormant Accounts

Wallet balances in accounts with no seller activity for a period exceeding 12 consecutive months may be subject to a dormancy review. Avely reserves the right to notify the seller and, if no response is received, to take steps consistent with applicable unclaimed property laws.

10. Tax Reporting

Sellers are solely responsible for all tax obligations arising from sales conducted through the Platform, including income tax and VAT. Sellers may access their transaction history and sales records through their account dashboard for tax reporting purposes. Where required by applicable law, Avely may be obligated to report seller income data to relevant tax authorities.

11. Prohibited Payment Activity

You must not use the Platform's payment infrastructure to process fraudulent transactions, conduct money laundering or other financial crime, receive payments for prohibited products or services, circumvent Stripe's or Avely's fraud detection or compliance systems, or facilitate transactions outside the Platform in breach of the Terms of Service.

12. Limitation of Liability

Avely is not liable for payment processing failures or delays caused by Stripe, banks, or card networks; exchange rate fluctuations; unauthorized access to payment data caused by factors outside Avely's reasonable control; or any indirect, consequential, or financial losses arising from payment processing issues.

13. Contact

For payment and wallet enquiries, please contact: payments@avely.com