Shopify Merchant Cryptocurrency Credit Reward Program

1. Eligibility to Participate in the Program

1.1 Eligibility. In order to participate in the Program, you must at all times maintain a Shopify Payments account in good standing and accept payment in cryptocurrency using the Cryptocurrency Payment Protocol. Your Shopify Payments account must be open in one of the following eligible regions: United States, Canada, Mexico, or Hong Kong. We may suspend or terminate your participation in the Program if you fail to comply with these Terms or the Shopify Payments Terms of Service.

1.2 Enrollment. You are automatically enrolled to participate in the Program by meeting the eligibility requirements. We do not charge any fees for your enrollment or participation.

2. Earning Credits on Shopify Platform Purchases

2.1. Earning and Calculating Credits. You will earn a Credit when you accept payment for an eligible transaction in cryptocurrency using the Cryptocurrency Payment Protocol. Credits are calculated as a percentage of the total purchase price of eligible purchases that are paid for in cryptocurrency using the Cryptocurrency Payment Protocol. You can view the Credit percentage that applies to you in the Shopify Admin. Credits are calculated at the time of transaction and paid to your Payout Account(s) along with payouts you receive for customer purchases processed through Shopify Payments. If you receive such payouts in cryptocurrency, then you will receive Credit payments in cryptocurrency to the cryptocurrency wallet that you have designated as a Payout Account. If you receive such payouts in fiat currency, then you will receive Credit payments in fiat currency to the financial account that you have designated as a Payout Account.

You are only entitled to receive Credits net of refunds, returns, and other transaction reversals. If a transaction for which you previously received Credits is subsequently subject to a refund, return, or other transaction reversal, then we may withhold or offset future Credit payments, or post a debit entry on your Shopify Payments account statement, to recoup the Credit amount that we provided on the refunded, returned, or reversed transaction.

Unlike traditional cash rewards that maintain a stable value, Cryptocurrencies can increase or decrease in value over short periods of time. This means your Credits might be worth less when you receive or spend them than when you originally earned them. Some Credits may be paid in cryptocurrencies called stablecoins, such as USD Coin. Stablecoins are designed to maintain a stable value (for example, 1 USD Coin should be worth 1 US dollar). However, this stability is not guaranteed. Stablecoins can lose value.

2.2 Restrictions and Recoup of Credits

You are not entitled to earn Credits on transactions that involve violations of these Credit Terms, the Shopify Payments Terms of Service, or any other terms that apply between you and Shopify. If a transaction for which you previously received Credits is subsequently found to have violated any applicable terms of service, then we may withhold or offset future Credit payments, or post a debit entry on your Shopify Payments account statement, to recoup the Credit amount we provided on the violating transaction.

3. Data You Provide

3.1. We may request additional information from you to confirm eligibility to earn Credits, including Personal Data. Any Personal Data that we collect is subject to our Privacy Policy.

4. Additional Legal Terms

4.1. Term, Suspension or Termination. You will become ineligible for the Program if (i) we determine in our sole discretion that you are engaged in suspicious, abusive or fraudulent activity, or (ii) you become ineligible to use the Cryptocurrency Payment Protocol for any reason, including because your Shopify Payments account was terminated. We may suspend or terminate the Program at any time and for any reason, without notice to you.

4.2. Changes to the Program. We may amend the Program at any time and for any reason. We reserve the right, subject to applicable law, to deliver to you any notice of changes by posting an updated version of the Program, and your continued use of the Cryptocurrency Payment Protocol will constitute acceptance of any such changes. You are advised to check these Terms from time to time for any updates or changes that may impact you.

4.3. Taxes. You are solely responsible for taxes, if any, arising from or related to Credits. We may report information with respect to Credits to a tax or governmental authority to the extent such reporting is required by applicable law.

4.4. Transfer and Forfeiture. You may not pledge or transfer any Credits to any third party, including any of your affiliates or subsidiaries. If you attempt to pledge or transfer any Credits by law or agreement, the pledge or transfer will be void, and you will forfeit your Credits. Any earned and unpaid Credits are forfeited upon becoming ineligible for the Program.

e) Entire Agreement. The terms set out in these Terms and in the Shopify Payments Terms of Service constitute the complete understanding of you and us with respect to the Program and supersedes all prior understandings, arrangements, or agreements, whether written or oral, regarding the Program. No waiver by either party of any breach of any provision of these Terms to be performed by a party will be construed as a waiver of any succeeding breach of the same or any other provision of these Terms. We may transfer, sell, or assign any of our rights or obligations under the Program without providing you notice. If any provision of these Terms is held to be invalid or unenforceable, such provision will be deemed to be modified to the minimum extent necessary to make it valid and enforceable and the rest of these Terms will not be affected. We do not waive our rights by delaying or failing to exercise them at any time.