New Scorpion Payments Updates

Since Scorpion Payments is powered by Stripe, we wanted to let you know that Stripe is updating its Stripe Services Agreement. You can read the entire Stripe Services Agreement here. The updates will take effect on October 1, 2022. No action is needed from you, but by continuing to use Stripe’s services on or after October 1, 2022, you are agreeing to the updated Stripe Services Agreement.

Why is this update great for you?

Stripe Services Agreement

• More concise and easier to navigate terms: As we grow our product suite, we’re streamlining our legal terms to make them more concise and easier to understand and navigate.
• Ensures data quality: This agreement governs the processing of personal data by Stripe.
• Protection against third-party claims regarding IP infringement: We’ve added a section explaining the protection we will provide you if a third party claims that your use of our technology or services infringes their intellectual property rights.
• More choice on how we communicate with you about our terms: We may do so by posting a revised version of the terms on the Stripe Legal Page. We typically communicate with you electronically, and we’ve updated our terms and our E-Sign Disclosure to provide more information on how and when we may do so.
• Reduces risk: With our updated terms, you reduce the risk associated with regulations that might affect your business.
• Clear payout process: We clarify how we hold funds before making payouts to you.
• Increased clarity on the information we require on the financial condition or status of your business: We may need to request additional information from you to assess your financial condition and the risk associated with your business.
• More information on the use of your trademarks and ours: We’ve updated the Marks Usage terms, which you can find here, to clarify exactly what we can and can’t do with each other’s trademarks.

Product Terms

• Separate Issuing platform and direct user terms: Stripe Issuing is a dynamic, customizable product, and there are a number of ways you can embed Issuing into your businesses.
• Separate Issuing partner bank terms: Our bank partners provide the key financial services underlying our Issuing product, and it’s important you understand the services they supply to you and your Connected Accounts (if applicable).

Financial Partner Terms

• Stripe Payments Company Terms: The Stripe Payments Company Terms have been updated to improve clarity on the specific services provided by Stripe Payments Company as part of our growing product suite and to align with changes being made to the Stripe Services Agreement.
• Acquirer Terms: The Wells Fargo Bank Acquirer Terms and the PNC Bank Acquirer Terms (each formerly known as Financial Services Terms) have been updated to align with changes being made to the SSA. We’ve added Cross River Bank as an additional acquiring bank for Visa and Mastercard transactions, and theCross River Bank Acquirer Terms apply to the services provided to you in partnership with Cross River Bank.