Payment Policy
Payment Processing Framework of the LQTTA Marketplace
This Payment Policy outlines how payments are processed for transactions conducted through the LQTTA digital marketplace platform.
1. Approved Payment Methods
All transactions must be processed exclusively through LQTTA’s authorized third-party payment service providers. Vendors are strictly prohibited from requesting, encouraging, or accepting off-platform payments for orders initiated through LQTTA.
- Online card payments
- Other electronic payment methods enabled by the Platform
2. Payment Authorization
By placing an order, customers authorize LQTTA to collect payment solely as a limited payment collection agent on behalf of the independent Vendor. Customers also authorize the relevant third-party payment service provider to process the total transaction amount, including applicable fees and taxes.
Payment authorization, processing, and settlement are subject to the approval policies and procedures of the relevant payment service provider and issuing financial institution.
3. Role as Limited Collection Agent
LQTTA collects payments on behalf of Vendors solely as a limited payment collection agent. Receipt of funds by LQTTA constitutes receipt by the Vendor for purposes of the underlying transaction between Customer and Vendor.
Vendors authorize LQTTA to deduct applicable commissions, service fees, refunds, chargebacks, reversals, and policy-related adjustments prior to payout release.
4. No Custody or Stored Value Services
LQTTA does not operate digital wallets, stored value accounts, escrow services, custodial financial accounts, or electronic money services. Funds are processed and settled through licensed third-party payment service providers in accordance with their regulatory frameworks.
5. Payment Security
Payment processing is conducted via third-party providers utilizing industry-standard encryption and security protocols. LQTTA does not store full payment card details on its servers.
6. Fraud and Risk Monitoring
LQTTA reserves the right to review, delay, suspend, or cancel transactions suspected of fraud, suspicious activity, policy violations, or regulatory non-compliance.
7. Chargebacks and Reversals
In the event of chargebacks, payment disputes, or reversals, LQTTA may recover the disputed amount and associated costs from pending or future Vendor payouts. Vendors remain financially responsible for disputes related to their products or services.
8. Limitation of Liability
LQTTA shall not be liable for delays, processing failures, payment authorization declines, banking errors, system interruptions, or losses arising from third-party payment service providers, financial institutions, or unauthorized use of payment methods.