KUBE PAY
Merchant Terms and Conditions
Kube Finance Limited
Agent of Wonderful Payments Ltd (trading as Asima)
Version 1.0 | Last updated: March 2025 | Effective date: March 2025
1. Introduction and Agreement
These Merchant Terms and Conditions (“Merchant Terms”) govern the commercial relationship between Kube Finance Limited (trading as Kube Pay) (“we”, “us”, “our”) and the Merchant (“you”, “your”) who has registered for a Kube Pay merchant account.
These Merchant Terms should be read alongside our Payment Services Terms and Conditions (“PSTC”), which govern the regulated open banking payment initiation services. In the event of a conflict between these Merchant Terms and the PSTC, the PSTC shall prevail in respect of regulated payment services.
By completing the Kube Pay sign-up process, you confirm that you have read, understood, and agree to be bound by these Merchant Terms and all related policies. These Terms form a legally binding contract between you and Kube Finance Limited.
2. Account Registration and Security
2.1 Registration
To create a Kube Pay merchant account, you must provide accurate and complete information about yourself and your business. You are responsible for ensuring that all information provided to us remains accurate and up to date. We reserve the right to verify information at any time and to suspend accounts where information cannot be verified.
2.2 Account Security
You are responsible for maintaining the security of your Kube Pay account credentials. You must not share your login details with any unauthorised person. If you suspect your account has been compromised, you must notify us immediately at security@kubepay.co.uk.
You are responsible for all activity that takes place under your merchant account, including transactions initiated by any authorised users you have added. We will not be liable for losses arising from unauthorised use of your account where you have failed to maintain reasonable security.
3. Platform Access and Licence
Subject to your compliance with these Merchant Terms and payment of applicable fees, we grant you a non-exclusive, non-transferable, revocable licence to access and use the Kube Pay platform and associated tools for the purpose of collecting payments from your customers.
This licence does not include the right to access the platform’s underlying source code, to reverse engineer any element of the platform, or to resell or sublicence access to the platform to any third party.
4. Pricing, Plans, and Billing
4.1 Plan Selection
Kube Pay offers multiple pricing plans as set out at kubepay.co.uk/pricing. You may select your plan during registration or upgrade/downgrade at any time via your merchant dashboard. Plan changes take effect at the start of the next billing period.
4.2 Fees
Monthly Platform Fees are payable in advance on the first day of each billing month via direct debit or a payment method approved by Kube Pay. Transaction Fees are charged per successfully completed Payment Order and will be set out in your dashboard and on your monthly statement.
All fees are exclusive of VAT. Where applicable, VAT will be added at the prevailing rate. If you fail to pay fees by the due date, we reserve the right to suspend your account until payment is received and to charge interest on overdue amounts at 8% above the Bank of England base rate.
We reserve the right to amend our pricing with not less than 30 days’ written notice. If you do not accept the new pricing, you may terminate your account before the new pricing takes effect.
5. Merchant Responsibilities and Obligations
Ensure that all transactions submitted through the platform relate to genuine, lawful commercial activity
Obtain all necessary consents, licences, and regulatory approvals required for your business activities
Comply with all applicable consumer protection laws, including the Consumer Rights Act 2015, when selling goods or services
Provide payers with accurate information about the goods or services they are paying for, and a clear receipt or confirmation of payment upon completion
Maintain adequate records of all transactions for at least 6 years
Notify us promptly of any change to your business type, ownership structure, or banking details
Ensure your use of the platform complies with our Acceptable Use Policy at all times
Not use the platform in a manner that could damage the reputation of Kube Finance Limited or Wonderful Payments Ltd (Asima)
6. Refunds and Disputes
6.1 Merchant Refunds
Open banking payments are, by design, non-reversible once processed. There is no chargeback mechanism equivalent to card payments. If a Merchant wishes to refund a payer, this must be done as a separate outbound bank transfer directly from the Merchant’s bank account. Kube Pay does not facilitate or manage refund payments on behalf of Merchants.
6.2 Disputed Payments
If a payer disputes a payment and contacts Kube Pay, we will direct them to you as the Merchant in the first instance. You are responsible for resolving commercial disputes with your customers. If a dispute relates to the technical execution of a payment (e.g. a payment that did not reach you), please contact us at support@kubepay.co.uk and we will investigate.
7. Intellectual Property
All intellectual property rights in the Kube Pay platform, software, APIs, branding, and documentation are owned by or licensed to Kube Finance Limited. Nothing in these Merchant Terms transfers any intellectual property rights to you.
By providing your business name, logo, or other content for use in the platform, you grant us a non-exclusive licence to display that content for the purpose of providing the Payment Services to you.
8. Service Levels and Support
We aim to maintain platform availability of 99.5% measured on a monthly basis, excluding planned maintenance windows. Where planned maintenance is required, we will provide at least 48 hours’ notice where practicable.
Merchant support is available via email at support@kubepay.co.uk. We aim to acknowledge support requests within 4 business hours and to resolve issues within 2 business days for standard queries.
Service level commitments are provided on a reasonable efforts basis and do not constitute a guarantee. We are not liable for downtime caused by third-party infrastructure, bank API outages, or the open banking network.
9. Term and Termination
These Merchant Terms commence on the date you complete registration and continue until terminated by either party. You may terminate your account on 30 days’ written notice. We may terminate immediately for material breach, non-payment, regulatory requirement, or in accordance with our Payment Services Terms and Conditions.
Upon termination, your access to the Kube Pay platform will cease. Any outstanding fees become immediately due. Provisions of these Terms that by their nature survive termination (including data retention, confidentiality, liability, and intellectual property) will continue to apply.
10. Governing Law
These Merchant Terms are governed by the laws of England and Wales. Both parties submit to the exclusive jurisdiction of the courts of England and Wales.
Legal Notice
These Merchant Terms are provided as a working draft and do not constitute legal advice. They should be reviewed by a UK-qualified solicitor before going live. Kube Finance Limited is an agent of Wonderful Payments Ltd (trading as Asima), FCA Registration Number 964289.