OCX Payment Terms of Use

Effective date: [17 November 2025] · Version: [v1.0]

These Payments Terms govern your use of OCX payment and financial services, including escrow, wallet balances, payouts, and related features. By using these services, you agree to these Payment Terms in addition to the main OCX Terms of Use. If you are a Seller or operate a business account, additional seller-specific clauses apply.

1) Key Definitions

Account: your OCX account with payment capabilities enabled.
Buyer / Seller: the user purchasing or listing items on the Platform.
Transaction: a purchase completed on the Platform.
Escrow: funds held until shipment, verification, and/or buyer confirmation.
Release Conditions: objective milestones that trigger payment release to Seller.
Linked Payout Account: your verified bank account or e-wallet for payouts.
Owed Amounts: amounts you owe OCX (fees, chargebacks, refunds).
Reserve: funds we hold to cover risk or regulatory requirements.
Chargeback: a payment reversal initiated by the card network or bank.
Dispute: any challenge to a Transaction, including buyer-seller disputes, chargebacks, or fraud claims.
Prohibited Use: activities listed in Section 11.
Payout Currency: the currency in which you receive payouts (e.g., IDR, SGD, USD).
Payment Methods: supported instruments (cards, bank transfers, e-wallets, Wallet balance).
Vault: OCX custody service for storing collectibles.
Wallet: a stored-value balance held by OCX on your behalf. Two types: Buyer Wallet and Seller Wallet.
Buyer Wallet: your Wallet credited from refunds, deposits, or promotions; can be used for purchases.
Seller Wallet: your Wallet credited from sale proceeds; can be cashed out to your Linked Payout Account.
Cash Out: withdrawal of available Seller Wallet balance to your Linked Payout Account, subject to reserves and verification.

2) Nature of Services; Agency; No Deposit Relationship

You appoint OCX as your limited payment agent to accept and hold payments on your behalf, subject to these Terms.
Buyer payment to OCX satisfies Buyer's obligation to Seller; once funds clear, Buyer cannot reclaim them except via authorized refund/dispute mechanisms.
Funds held by OCX or its partners are not deposits. OCX is not a bank. Your Wallet balance and escrow holdings are ledger credits representing amounts owed to you, not insured deposits (not covered by FDIC, PDIC, SDIC, or similar).
OCX may use third-party processors (e.g., Stripe, local payment gateways). Their terms apply to their respective services, but OCX remains your primary point of contact.
Stored value; not a deposit. Wallet balances represent payment obligations owed by OCX, not traditional bank deposits. No interest is paid on balances.
No P2P by default. Wallet balances cannot be transferred user-to-user unless explicitly enabled by OCX.

3) Eligibility; Onboarding; Verification

Basic eligibility
- Age of majority in your jurisdiction (18+ or 21+ in Indonesia).
- Not on any sanctions list (UN, OFAC, EU, MAS, etc.).
- Resident or legally able to transact in a jurisdiction we support.
Identity (KYC) and business verification
- We collect name, date of birth, government ID, address, phone, email.
- If you are a business or high-volume seller, we may require registration documents, beneficial-ownership info, or proof of address.
- Third-party KYC services may be used. You authorize OCX to share your data with these providers for verification.
- Incomplete or inaccurate information can lead to account limitations, holds, or closure.
Linked payout account
- Sellers must link a verified bank account or e-wallet matching the name on the OCX Account.
- We may conduct micro-deposit verification or require supporting documents.
Accuracy and updates
- You must keep your info current. Notify us if your name, address, or bank details change.
- Outdated or incorrect information can delay payouts or refunds.
Ongoing reviews and cooperation
- We may request additional documents or information periodically for compliance.
- Failure to respond within requested timeframes may result in holds or account suspension.
Limits, holds, and reserves based on risk
- New or unverified accounts may have lower transaction limits.
- Higher-risk categories or jurisdictions may require additional reserves or extended hold periods.
- OCX may adjust limits dynamically based on your transaction history, dispute rate, and verification status.
Sanctions and prohibited use
- You affirm you are not a sanctioned individual, entity, or located in a sanctioned region.
Failure to provide information
- If we cannot verify your identity or you refuse to cooperate, OCX may freeze funds and close your account, subject to legal hold periods.

4) Supported Payment Methods; Availability

Supported methods may include: credit/debit cards (Visa, Mastercard, JCB), local bank transfers (via BI-FAST, InstaPay, etc.), e-wallets (GoPay, OVO, Dana, GrabPay, etc.), BNPL (if enabled), and Wallet balance.
Availability, per-transaction limits, and fees vary by method, country, and your Account status.
OCX may add, remove, or throttle methods based on operational or regulatory needs.
You may pay for eligible purchases using your Buyer Wallet balance. Any shortfall will be charged to your backup payment method.
OCX may limit Wallet use by country, category, or user type (e.g., no Wallet for certain high-value or restricted items).

5) Pricing; Fees; Taxes; FX

Fees for acceptance, escrow, payouts, currency conversion, and other services are listed in the OCX Fee Schedule (available in your Account settings or at theocx.com/fees).
Promotions are conditional and may be revoked if you violate Terms. We may update fee schedules with 30 days' notice; continued use = acceptance.
Taxes: you are responsible for income tax, VAT/GST, sales tax, or other taxes on your sales. OCX may collect and remit certain taxes where legally required.
FX: if Buyer pays in a currency different from your Payout Currency, OCX converts at prevailing rates + FX spread (typically 1–3%). Rates are locked at time of transaction.
Wallet fees. OCX may charge Cash Out fees (flat or percentage), currency conversion fees if your Wallet holds multi-currency balances, or monthly inactivity fees after 12+ months of no activity (subject to local regulation).
FX for Wallet. If your Wallet holds multiple currencies, conversions occur at OCX's prevailing rate when you Cash Out or use funds.
Promotional credits. Promo amounts may be non-withdrawable (purchase use only) unless stated otherwise.

6) Escrow by Default; Shipment and Authentication

Buyer funds are held in escrow (minus OCX fees, if collected upfront) until Release Conditions are met.
For OCX-verified categories, authentication at our facility is required before release.
For multi-item orders, OCX may release funds incrementally as each item is delivered/verified.
When Release Conditions are met, funds move to your Seller Wallet. From there, you may Cash Out (subject to reserves, if any).
For cancelled/returned orders, escrowed funds are refunded to Buyer (to original payment method or Buyer Wallet).

7) Release of Funds (Scenarios and Conditions)

Standard shipment (tracked)
- Buyer receives item; no dispute filed within X days (typically 3–7); funds released.
- If Buyer confirms receipt early or auto-confirms, release happens sooner.
High-value items with OCX verification
- Item ships to OCX facility; authenticated; then shipped to Buyer; funds released upon Buyer receipt + no dispute.
Vault intake sale
- Item enters Vault; authenticated; Buyer confirms; funds released (item stays in Vault under Buyer ownership).
Local pickup
- Both parties confirm handover via app; funds released upon mutual confirmation.
Preorder / back-order
- Funds held until item becomes available, ships, and is delivered. If cancelled by Seller or unavailable beyond stated window, full refund issued.
Extensions to release timing
- If a dispute or chargeback is filed, release is delayed until resolution.
- If fraud or policy violation is suspected, OCX may hold funds pending investigation (up to 90 days or as required by law).

8) Wallets and Cash Out

Wallet availability. OCX provides Wallet services where lawful and operationally feasible. We may discontinue Wallet in certain regions or for certain users.
Sources of funds.
- Buyer Wallet: refunds, promotional credits, or deposits you make.
- Seller Wallet: net sale proceeds.
Using Wallet to pay. You may elect to use Buyer Wallet balance first, then a backup payment method for any shortfall.
Cash Out to your Linked Payout Account.
- Sellers request Cash Out from Seller Wallet. Available balance = total balance minus any reserves, holds, or owed amounts.
- Typically processed within T+0 to T+3 business days, depending on method and bank processing.
- Minimum Cash Out amount may apply (e.g., IDR 50,000).
Holds, reserves, and reviews before Cash Out. OCX may delay or deny a Cash Out request if your account is under review, there are pending disputes, or there is suspected fraud.
Negative balances and set-off.
- If chargebacks, refunds, or penalties exceed your Wallet balance, you owe OCX the deficit.
- OCX may deduct Owed Amounts from future sales proceeds, Wallet top- ups, or charge your backup payment method.
- Persistent negative balances may result in account suspension or collection action.
No cash loads (unless enabled). By default, you cannot "top up" Seller Wallet with external funds; it only receives sale proceeds. Buyer Wallet may accept deposits in some jurisdictions.
Dormancy and expiry. OCX may charge inactivity fees or forfeit balances under local unclaimed-property law after extended inactivity (typically 12–24 months of zero activity + failure to respond to notices).
Security and misuse. You are liable for unauthorized Wallet use if you fail to secure your account. Report suspicious activity immediately.
Statements. Wallet activity is viewable in your Account dashboard. Monthly statements may be provided electronically.

9) Risk Controls: Holds, Reserves, Limits

Holds may be applied at transaction level (escrow hold) or account level (pending verification, dispute, or fraud investigation).
Reserves may include:
- Rolling reserve: X% of each sale held for Y days (e.g., 10% for 90 days).
- Minimum reserve: fixed amount held at all times (released after performance improves or account closure).
Reviews and changes:
- OCX reviews reserves periodically; improving metrics may reduce reserves; worsening metrics may increase them.
OCX may place Wallet holds on your entire balance if your account is flagged for review, you have excessive disputes, or you are suspected of prohibited use.
OCX may require a rolling or minimum reserve for high-risk sellers or new accounts with high volume.

10) Refunds, Cancellations, Disputes, Chargebacks (with Evidence Rules)

If a Transaction is cancelled before shipment or fails verification, OCX refunds the Buyer to original payment method or Buyer Wallet (Buyer's choice or per policy).
Platform disputes
- Buyer files "Not as Described" or "Item Not Received" claim within X days of delivery.
- Seller has Y days to respond with evidence (tracking, proof of condition, photos).
- OCX reviews and decides. If upheld: Buyer receives refund; item returned to Seller (Seller pays return shipping if misrepresentation). If denied: funds remain with Seller.
- Evidence rules: clear photos, timestamped messages, tracking scans, third-party grading reports. Failure to provide may result in auto- loss.
Card chargebacks
- If Buyer disputes with their bank, OCX may debit your Seller Wallet and represent the charge on your behalf (with your evidence). If chargeback is lost, you bear the loss + chargeback fee.
BNPL and local-rail disputes: similar to card chargebacks; OCX coordinates with the provider.
Partial refunds: allowed where both parties agree or OCX determines partial resolution is fair (e.g., minor defect).
Outcome hierarchy
- If both a Platform dispute and a chargeback occur, chargeback resolution typically controls (card network rules).
Refund destination. Refunds go to original payment method unless the method is invalid/expired, then to Buyer Wallet.
Reversals after Cash Out. If you already cashed out and a chargeback/refund is later issued, your Wallet goes negative. You must cover the deficit.

11) Prohibited and Restricted Uses

Illegal items or services; stolen, counterfeit, or materially misrepresented goods.
Unapproved financial services, money transmission, or money laundering.
Gambling, adult content, weapons, drugs, hazardous materials (unless pre-approved).
Sanctioned jurisdictions/persons.
Manipulative behavior such as self-dealing, wash sales, shill bidding.
High-risk items without prior approval: precious metals in bulk, digital goods, gift cards for resale.
OCX may update this list; the current version is at theocx.com/prohibited.

12) Data, Security, and Privacy

OCX and its processors handle payment data per PCI-DSS standards and applicable data protection laws (GDPR, Indonesia's PDP Law, PDPA).
You are responsible for account credentials. Use strong passwords and 2FA.
OCX may share necessary data with payment processors, KYC providers, fraud detection services, and regulators.
Data handling is described in the OCX Privacy Policy. By using Payment Services, you consent to such processing.

13) Compliance; Sanctions; Reporting

You confirm that neither you nor your beneficial owners are on any sanctions list (OFAC, UN, EU, MAS, etc.) or located in sanctioned regions.
Examples of restricted regions: North Korea, Iran, Syria, Crimea (list subject to change).
You agree to provide information for tax reporting (e.g., 1099-K in US, equivalent forms in other jurisdictions) if thresholds are met.
OCX may freeze funds or share data with authorities if sanctions or legal violations are suspected.

14) Operational SLAs, Events, Webhooks, and Reconciliation

Webhooks
- OCX may send real-time event notifications (payment.success, payout.completed, dispute.created, etc.) to your registered endpoint.
- You are responsible for verifying webhook signatures and handling retries.
- OCX retries failed webhooks up to N times over M hours; after that, you must poll or reconcile manually.
Idempotent API Actions
- Use idempotency keys to prevent duplicate charges or payouts if you retry a request.
Reconciliation & Statements
- Daily transaction logs available via dashboard or API (CSV/JSON exports).
- Monthly payout statements emailed or downloadable. Discrepancies must be reported within 60 days.
- If you dispute a statement item after 60 days, OCX may decline to investigate unless there is clear error or fraud.
Operational SLAs (targets; may vary)
- Payment authorization: <5 seconds (99th percentile, excluding 3DS/OTP flows).
- Escrow release (auto): within 24 hours of Release Conditions being met.
- Cash Out processing: T+0 to T+3 business days (depending on method and bank).
- Refund processing: T+0 to T+7 business days.
- Dispute response window: Seller has 5 business days; OCX decision within 10 business days.
Notifications & Delivery
- OCX sends notices via email, in-app, or SMS. You must keep contact info current.
- Legal notices to OCX: send to payments-legal@theocx.com with subject line "LEGAL NOTICE."
Data Retention & Audit
- OCX retains transaction records for 7 years (or as required by law).
- You may request copies of your transaction history; fees may apply for bulk exports older than 18 months.
Wallet events via webhook. wallet.credited, wallet.debited, cashout.requested, cashout.completed, cashout.failed.
Reconciliation. Daily exports via dashboard or API; monthly statements emailed.

15) Vault-Specific Terms

Intake and title: upon intake to Vault, title transfers briefly to OCX for verification, then back to you (bailee relationship).
Insurance: Vault is insured up to declared value; you pay insurance premium. Claims follow OCX Claims Policy.
Withdrawal: shipped out via insured courier; fees + shipping apply.
Damage/loss: OCX liability capped at insured value minus deductible; not liable for market-value appreciation.

16) Consumer Information

When you get paid: after delivery confirmation + no dispute (or auto-release period), funds go to Seller Wallet; then you Cash Out.
How refunds work: OCX returns funds to original payment method or Buyer Wallet; processing time varies (typically 5–10 business days).
What a chargeback is: the card network reverses payment; OCX debits your Wallet; you may contest with evidence.
Why payouts are on hold: new account, dispute pending, suspected fraud, or reserve requirement.
Where fees are listed: see theocx.com/fees or Account settings.

17) Communications; E-Sign; Statements

You consent to electronic delivery of notices, agreements, statements, and disclosures (email, in-app, or downloadable PDF).
Monthly payout statements are available in your dashboard; you may request paper copies (fees may apply).

18) Service Changes; Suspension; Termination

OCX may change or discontinue Payment Services with reasonable notice (except emergencies or regulatory requirements).
OCX may suspend or terminate if you violate these Terms, engage in Prohibited Use, fail KYC, or pose unacceptable risk. You will be notified and given a chance to cure (if feasible).
You may terminate by closing your Account and withdrawing all available funds. Outstanding obligations (reserves, disputes, chargebacks) survive termination.
Where my refund goes: usually original payment method; if expired/ invalid, Buyer Wallet.
How I get sale money: funds first go to Seller Wallet after Release Conditions; then you Cash Out.
Cash Out timing: typically T+0 to T+3 business days; longer if manual review needed.
Fees & limits: see the OCX Fee Schedule (theocx.com/fees); limits depend on verification tier.
Promotional credits: may be spend-only (not withdrawable) unless stated otherwise.

19) Warranties; Liability; Indemnity

Payment Services are provided "as is"; OCX disclaims warranties to the extent permitted by law.
To the extent permitted by law, OCX's liability for payment errors, delays, or losses is limited to the amount of the affected transaction(s), and OCX is not liable for consequential or indirect damages.
OCX is not liable for indirect, consequential, or punitive damages (lost profits, business interruption).
You agree to indemnify OCX and its processors from claims arising from your breach, fraud, or misuse of Payment Services.

20) Governing Law; Dispute Resolution

Indonesia: governed by Indonesian law; disputes to arbitration (BANI) or courts in Jakarta. Singapore: governed by Singapore law; disputes to SIAC arbitration or Singapore courts.
Mandatory consumer rights may override arbitration in certain jurisdictions.

21) Assignment; Force Majeure; Miscellany

OCX may assign these Payments Terms to a successor or affiliate. You may not assign without OCX consent.
OCX is not responsible for delays or failures due to force majeure (natural disasters, war, sanctions, government orders, third-party outages).
If any term is invalid, the rest remains enforceable. Waiver of one breach does not waive future breaches.
If translated, the English version controls in case of conflict.
Legal notices to OCX should be sent to payments-legal@theocx.com with subject line "LEGAL NOTICE."

22) Country-Specific Terms

Indonesia: payouts in IDR; OCX may partner with a licensed payment gateway (e.g., Xendit, Midtrans) to facilitate escrow/disbursements.
Singapore: services may require MAS approval if OCX crosses stored-value thresholds; users will be notified.
Malaysia, Philippines, Thailand: local e-wallet or bank-transfer rails may apply; fees and timing vary.
Indonesia. Wallet and Cash Out services may be operated via licensed third-party partners to comply with Bank Indonesia regulations.
Singapore. Wallet may rely on MAS-exempt or licensed payment institutions; stored value may be subject to safeguarding requirements.
Other SEA markets. Wallet features may be limited or unavailable pending local licensing.

23) Contact

Payments Support: <support@theocx.com> (subject: "Payment Issue")