Last updated: January 13, 2025
These Fifth Third Bank Acquirer Terms (“Member Bank Terms”) are additional terms applicable to the Stripe Payments Services for Visa and Mastercard products for which Fifth Third Bank (“Member Bank”) is a Payment Method Acquirer (“VM Payment Processing Services”). In these Member Bank Terms, Visa and Mastercard may be referred to individually as a “Network” and collectively as the “Networks”, and the rules issued by a Network are the “Network Rules.” Additionally, for purposes of these Member Bank Terms, if you are registered with a Network pursuant to applicable Network Rules, you are considered “Network Registered.” Any terms used but not defined in these Member Bank Terms will have the meaning provided in the Stripe Services Agreement (“Agreement”).
These Member Bank Terms constitute a legal agreement among you, Stripe, and Member Bank, a national bank, with offices at 38 Fountain Square Plaza, Cincinnati, OH 45263. The legal agreement is formed by Member Bank’s and Stripe’s offer of these Member Bank Terms to you, your acceptance of these Member Bank Terms, and Member Bank’s and Stripe’s subsequent provision of VM Payment Processing Services to you.
These Member Bank Terms are offered to you, and the legal agreement established by these Member Bank Terms becomes effective as provided below.
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For all users of the VM Payment Processing Services, except Network Registered users: These Member Bank Terms become effective only when you process more than the applicable Transaction volume threshold amount established or approved by any Network within any twelve-month period (the “Network Established Threshold”) through Member Bank. Importantly, the Network Established Threshold for effectiveness of these Member Bank Terms is set by each Network, and either Network may change its threshold for effectiveness of these Member Bank Terms at any time with no notice to you. Until you process more than the Network Established Threshold through Member Bank, these Member Bank Terms are not effective, and you do not have a direct legal agreement with Member Bank with respect to the VM Payment Processing Services.
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For Network Registered users of the VM Payment Processing Services: These Member Bank Terms become effective when you process your first Transaction on a Network through Member Bank.
You understand and agree that Stripe or Member Bank may enforce any provisions of the Agreement that relate to Stripe’s or Member Bank’s provision of or your use of the VM Payment Processing Services, and you acknowledge that you are directly responsible to Member Bank under the Agreement for any liability to Member Bank caused by your breach of the Agreement. Stripe or Member Bank may also terminate these Member Bank Terms at any time, which may limit or terminate your ability to use the VM Payment Processing Services. Further, either Network may, at any time for any reason, terminate these Member Bank Terms with respect to VM Payment Processing Services for its products.
You must accept all of the terms and conditions of these Member Bank Terms to use the VM Payment Processing Services. If you do not accept them, you may not receive VM Payment Processing Services.
1. Network Compliance and Disclosure
a. Important Member Bank Disclosures: Member Bank discloses that (i) it is the only entity approved to extend acceptance of Visa and Mastercard products directly to you under these Member Bank Terms; (ii) it must be a principal party to these Member Bank Terms; (iii) it is responsible for educating you on the Network Rules with which you must comply, but this information may be provided to you by Stripe; and (iv) subject to Section 4 of these Member Bank Terms, with respect to Transactions processed through the VM Payment Processing Services, it is responsible for and must provide the Settlement Funds (as defined below) that it receives to Stripe (or Stripe’s designated financial services provider) for distribution to you; and (v) with respect to Transactions processed through the VM Payment Processing Services, Stripe is responsible for all funds that may be held in reserve that are derived from your Settlement Funds.