Document background
The Merchant Agreement serves as the primary contractual framework for establishing and managing relationships between payment service providers and merchants in the Philippines. This document is essential when businesses wish to accept electronic payments, integrate with payment platforms, or establish online payment capabilities. The agreement covers crucial elements such as transaction processing, fee structures, settlement terms, and compliance requirements under Philippine law, including the E-commerce Act of 2000 and BSP regulations. It provides comprehensive protection for both parties while ensuring alignment with local regulatory requirements, data privacy standards, and consumer protection measures. The Merchant Agreement is particularly relevant in the growing digital economy of the Philippines, where electronic payments and e-commerce transactions are becoming increasingly prevalent.
