Terms of Service

1. Service provider

The GoosunPay payment platform (the "Platform", "we", "us") is operated by YOUNG BIZ SDN. BHD. (Malaysian company registration 202301011255 / 1505177-X, registered in Kuala Lumpur, Malaysia). We are incorporated under the Malaysian Companies Act 2016 and comply with applicable regulations of BNM and SSM.

2. Scope of services

The Platform provides duly registered corporate merchants with:

• Access to international card payments, local payments, e-wallets and cryptocurrency via compliant third-party Payment Service Providers (PSPs);
• Payment link generation, hosted checkout, order management;
• Reconciliation, settlement, multi-currency FX, and withdrawal to the merchant's designated bank account;
• Merchant admin console, agent / distribution system, webhook / API integration services.

Note: the Platform does not directly hold a funds license. Funds clearing is performed by licensed PSP partners (Stripe, Inc. / iPay88 (M) Sdn. Bhd. / Coinbase Commerce and others).

3. Account registration & KYB onboarding

Before using the Platform, merchants must complete Know-Your-Business verification:

• Provide a scanned copy of the business license / certificate of incorporation;
• Provide identification for the legal representative or director;
• Provide evidence of the corporate bank account;
• Provide a business description, product list and estimated monthly transaction volume;
• Confirm the business is not included in our Prohibited Business List.

The Platform reserves the right to review KYB materials and to reject or suspend service.

4. Prohibited business list

The following business activities are strictly prohibited from using the Platform:

• Gambling, betting, lottery (except for licensed lawful operators);
• Adult content, pornography, sexual services;
• Weapons, ammunition, firearms;
• Drugs and controlled substances;
• Unauthorised financial securities, forex, futures, cryptocurrency exchanges;
• Pyramid schemes, Ponzi schemes, fraudulent investment programs;
• Pirated software, infringing content;
• Any business that violates Malaysian law or the law of the merchant's / customer's jurisdiction.

5. Fees

The Platform charges transaction fees per the Merchant Agreement. Fees typically include:

• PSP channel cost (set by the channel, typically 2.4%–3.5% + fixed fee);
• Platform service fee (a percentage of transaction count or amount);
• Cross-border FX fee (if applicable);
• Withdrawal fee (per withdrawal or fixed amount).

6. Settlement & withdrawal

After a successful transaction, the net amount (after fees) is settled to the merchant's platform balance within T+1 to T+7 business days (subject to the PSP and currency). Merchants may request withdrawal to the corporate bank account registered during KYB. Single / daily / monthly withdrawal limits are dynamically adjusted based on merchant tier and AML risk assessment.

7. Refunds & disputes

Refunds are initiated by the merchant and processed after Platform and PSP review — details see Refund Policy. In the event of a chargeback, the merchant must submit evidence within 7 days of notification; otherwise, the corresponding amount will be deducted directly from the merchant account.

8. Data & privacy

The Platform encrypts sensitive merchant and customer information (including but not limited to ID documents, card numbers, CVV and account passwords) at rest and in transit to PCI DSS–compliant standards. Details are described in Privacy Policy.

9. Limitation of liability

To the maximum extent permitted by law, the Platform is not liable for:

• Service disruption due to upstream PSP (Stripe, iPay88, etc.) outages or policy changes;
• Account freezing or funds retention due to false KYB information or merchant misconduct;
• Financial loss caused by cardholder chargebacks, fraud or money laundering;
• Force majeure events (natural disasters, war, policy changes, etc.).

10. Changes to these terms

The Platform may revise these Terms at any time. Material changes will be communicated by email or via a back-office announcement at least 30 days in advance. Continued use of the service constitutes acceptance of the revised Terms.

11. Governing law & dispute resolution

These Terms are governed by the laws of Malaysia. Any dispute relating to these Terms shall first be resolved through friendly negotiation; failing which, the dispute shall be submitted to the Kuala Lumpur Sessions Court.

12. Contact us