This Payment and Fee Policy (“Policy”) outlines the fee structure and payment terms for sellers creating a shop/stall on FEATSY.  By agreeing to this Policy, sellers acknowledge and agree to the specified fees and payment procedures set forth herein.

1.     Acceptance of terms of use

• FEATSY’s Payment and Fee Policy, details both your and our rights and responsibilities when using FEATSY payments when selling or purchasing items. By accessing or using FEATSY, and using any of our services, you are agreeing to comply with this policy in their entirety as they constitute an agreement between FEATSY and you, making it legally binding.
• Details of the fees payable are detailed hereinbelow. Additional services are available to assist sellers – these fees will only be charged if you request these services in writing from FEATSY.
• If you do not agree or are not legally capable in law and as defined in the Terms of Use document, to accept these terms and conditions, then you are not permitted to use FEATSY.

2.     FEATSY Fees

2.1   Joining and listing fees

2.1.1 It is free to join FEATSY and to list items.

2.2.   Membership fees

2.2.1 A monthly membership fee is payable by each seller, following a 60 (sixty) day free trial period.  There are a few membership packages to choose from, tailored to meet sellers’ needs Crafter – R99/month,  Master – R149/month or Grand Master R189/month. This Membership fee is used to maintain the infrastructure, support, and marketing of FEATSY.

2.2.2 Membership fees due are payable monthly in advance, (i.e. you pay for your use of FEATSY at the beginning of the month). The “month” is unique per vendor as it depends on when registration took place and is not as per a calendar month.   You will be directed to purchase your subscription through FEATSY’s payment processes (ie as a product), via a reminder each month. 

2.2.3 The Membership fee is on a month-to-month basis and can be cancelled at any time by you, via your Stall Dashboard. 

2.2.4 Non-payment of your Membership fee will result in your account being suspended. 

2.3 Commission fee

2.3.1 10% (ten percent) plus VAT sales commission on the selling price of all successful sales,  is payable to FEATSY.
The commission is not charged on delivery fees.

Example:
An item listed and sold at R400 + R90 delivery fee.
The commission fee is charged on R400 at 10% + VAT.

To work out 10% of R400, multiply R400 by 0.10 (R40)
To add VAT, multiply the amount by 15% (0.15)

i.e. (R400 x 0.1) x 1.15 = R46

2.3.2 Commission will be deducted from the price of the goods sold and the seller’s account will be debited with the net amount (ie deducted prior to your withdrawal)

2.4 Transaction /Payment Processing Fee

2.4.1 PayFast, Yoco and the banks charge FEATSY a fixed fee and a percentage of the transaction amount. The total amount charged is for the full transaction, which includes delivery fees and FEATSY commission. An average fee of around 4.5% will be charged by FEATSY on each total transaction.

Example:
Item listed and sold at R400 + R90 delivery fee.
Transaction fee is charged on R490 at 4.5% + VAT.

To work out 4.5% of R490, multiply R490 by 0.45 (R22)
To add VAT, multiply the amount by 15% (0.15)

i.e. (R490 x 0.045) x 1.15 = R26

Less the commission transaction fee (R46 x 0.045) x 1.15 = 2.38

Total transaction fee is R26 – R2.38 + R1.50 = R25.12 

2.4.2 Transaction fees will be deducted from the price of the goods sold and the seller’s account will be debited with the net amount (ie deducted prior to your withdrawal)

3.     Managed Services Fees -Optional Services

3.1    Managed Service 1 – Stall Management fee

3.1.1 FEATSY will manage a stall on behalf of the seller.  

3.1.2 If a seller would like FEATSY to manage their stall on their behalf, from start to finish (i.e. creating the listing to final dispatch of the goods), an additional 20% (twenty percent) of the gross sale amount will be charged plus VAT.

Therefore a total of 30% is payable for each successful transaction if you choose this service (commission + additional management fee).   Packing material costs are not included in this fee and will be an additional charge for the seller’s account.

3.1.3 Costs for this managed service are based on reasonably sized items and the services will be reviewed by FEATSY on a regular basis.

3.2    Managed Service 2 – Dispatch Management fee

3.2.1 FEATSY will manage the dispatching of a seller’s products (delivery process).

3.2.2 If a seller would like FEATSY to manage the dispatching process on their behalf, from storage to final dispatch of the goods, an additional 12,5% (twelve and a half percent) of the gross sale amount will be charged plus VAT.

Therefore, a total of 22.5% (commission + additional management fee) is payable for each successful transaction if you choose this service.   Packing material costs are not included in this fee and will be an additional charge for the seller’s account.

3.2.3 These costs are based on reasonably sized items and the services will be reviewed by FEATSY on a regular basis.

3.3    Managed Service 3 – Listing Management fee

3.3.1 FEATSY creating the listings for a seller

3.3.2 If a seller would like FEATSY to manage the listing process on their behalf, from taking photos to creating the listing in their stall, a fixed fee of          R250 + VAT per listing will be charged.

3.3.3 The seller would need to deliver an example of the listing and provide the information for the item, to FEATSY.

4.     Summary of fees

5.     FEATSY Payment Process

5.1    FEATSY facilitates the payment process as follows:

5.1.1 accepts payment by authorised credit or debit card and for EFTs (PayFast and Yoco).

5.1.2 ensure those funds are credited to a seller’s account with FEATSY.

5.1.3 ensure that funds are available for withdrawal by the seller once the withdrawal criteria is met,

5.1.4 ensure those funds, less any fees and/or commissions payable to FEATSY, are deposited into a seller’s designated bank account.

5.2    FEATSY Payments may only be used by users who are legally competent as defined in the Terms of Use Policy, properly registered and approved for a payment account with FEATSY.

5.3    Sellers may only use FEATSY payments for the sale of items listed on FEATSY  and agree to issue sold items to the customer immediately once a payment transaction is completed and the payment reflects in their payment account. FEATSY reserves the right to terminate a seller’s access to FEATSY’s payments if the seller uses payment account contrary to these terms and conditions of use.

5.4    FEATSY reserves the right, at its sole discretion, to add or remove accepted payment methods through FEATSY payments, with reasonable prior notice where required and in compliance with applicable law.

6.     Third-Party Payment Services

6.1    FEATSY has partnered with third-party service providers, Payfast and Yoco , who offer regulated payment services and handle various aspects of payment processing. These services include card processing, disbursements, and regulatory compliance.  FEATSY may share your personal or transactional information with those third-party service providers for purposes related to payment processing.

6.2    If FEATSY receives notice that your listing and/or shop content or activity violates a third party’s service agreement, we may at our sole discretion take action against your account to ensure compliance with their policies. Such actions may include cancelling a transaction, disabling listings from your shop, suspending or terminating your selling privileges, or removing certain payment methods.

7.     FEATSY’s Rights and Responsibilities

7.1    FEATSY’s payment functionality may be made available, modified, or discontinued by us at any time without notice and is subject to the limitations outlined in the Terms of Use.

7.2    As a security measure, we may impose reasonable transaction limits on customers and sellers  (both financial and number) or deposits over a period of time. We will not be liable to a seller: (a) if we do not proceed with a transaction, deposit, or adjustment that would exceed any limit established by us, or (b) if we permit a customer to withdraw from a transaction or (c)if transactions take place privately and not through the FEATSY payment process.

7.3    FEATSY may refuse payment services to anyone, for any reason, at any time in their sole discretion.

7.4    FEATSY reserves the right to decline or refund transactions deemed high risk, fraudulent, or contrary to FEATSY’s Terms of Use and shall not be responsible for payment made through FEATSY through illegal means (eg stolen or unauthorised credit card use).  FEATSY will provide necessary records, to the extent legally permitted and/or required, in order to assist in the recovery of the monies and to facilitate the reporting of the fraud to third party service providers.

7.5    FEATSY maintains transaction records associated within our payments module,  securely and ensures the protection of sensitive data such as credit card numbers and bank account information. Sellers will receive necessary order details, delivery information, and limited customer account information to enable the seller to fulfill the order.

7.6    For a detailed understanding of how FEATSY handles user information, refer to FEATSY’s Privacy Policy.

8.     Seller Rights and Responsibilities

Use of FEATSY payments

• Using the FEATSY payment process will result in your stall accepting payments through authorised credit and debit card transactions, some bank transfer services, Yoco, PayFast or a FEATSY Gift Card. For you to sign up and receive payments for transactions made through FEATSY, you must provide the mandatory information and complete all required steps, including proof of your bank account. Payments cannot be made to you if incomplete or inaccurate information has been provided to FEATSY.
• As a seller, you are responsible for ensuring that your information is accurate and current. If your bank account changes, please send an e-mail to accounts@featsy.co.za. We will assist you with the process.  Sellers authorise us, and our duly authorised agents, to verify their information (at registration and on occasion when using the services) by accessing public records and obtaining credit reports about the sellers.

Payment Account

Each seller has a unique payment account that is linked to their stall, which details their stall activities and allows the sellers to track payment amounts, refunds, and fees related to transactions and seller services.

• Payment accounts are only available to valid eligible sellers on FEATSY and who have a valid bank account on record with FEATSY.
• Activities on your payment account, such as transactions, withdrawals and fees will be communicated to the seller promptly, using our standard communication process.
• By using FEATSY services, each seller appoints FEATSY as its agent for the sole purpose of receiving, holding, and settling payments on behalf of the seller. FEATSY will settle received payments to each seller, deducting any amounts owed to FEATSY and in accordance with the Terms of Use and respective FEATSY Policies.
• Customer payments received by FEATSY on behalf of Sellers fulfill the customer’s payment obligations. If FEATSY fails to settle payments received to sellers timeously, sellers have recourse only against FEATSY, not the customer.

Disputes

• Sellers are expected to address any disputes directly with the customer, utilising the available dispute management and refund tools on FEATSY, and in accordance with our Terms of Use.
• In the event that a dispute is escalated to FEATSY’s support team by a customer, we reserve the right, but shall not be obliged to, issue a refund to the customer and recover the funds from the seller if the transaction is found to be in violation of our policies.

Returns

• Refer to our Returns Policy for more information about returning products and related refunds or exchanges.
• It is important for the seller to note that any such funds paid by FEATSY to cover refunds will be deducted from their payment account balance. If there are insufficient funds to cover the amount of the refund, the balance will be charged to the seller’s credit or debit card provided by the seller on file or added to the seller’s payment account.

9.     Bank charges

9.1    Your bank or card provider may charge additional fees for transactions that you make on FEATSY. These fees are not charged by us and are at the discretion of your bank. Please contact your bank for further details.

10.    Reimbursement to FEATSY

10.1 FEATSY reserves the right, in our sole discretion, to seek reimbursement from a seller in any of the following circumstances:

(a)     we provide a refund to a customer because a seller did not promptly deliver the goods or we otherwise determine that a refund is warranted in a particular circumstance;

(b)     we discover erroneous or duplicate transactions related to a seller;

(c)     we receive a charge-back from a customer’s credit card issuer or reversal of payment for the amount of a customer’s purchase from a seller; or

(d)    a seller does not act in accordance with FEATSY’s policies.

10.2 We may obtain reimbursement of any amounts owed by a seller to FEATSY by deducting from future payments owed to the seller, reversing any credits to the seller’s payment account balance, charging the seller’s card on file, charging the seller’s payment account, or seeking reimbursement from the seller by any other lawful means, including by using third-party collections services. You authorise us to use any or all of the foregoing methods to seek reimbursement. FEATSY may suspend your selling privileges at any time pending payment of your outstanding balance.

11.    Payment Processing Fees

11.1 Payment processing fees for each transaction processed through FEATSY payments will be deducted by FEATSY.

11.2 The seller is responsible for any payment fees associated with a reimbursement.

12.    Termination

12.1 Sellers may terminate this contract and their acceptance of FEATSY payments at any time by adjusting the settings in their account with FEATSY. FEATSY may also terminate or suspend a seller’s use of FEATSY payments at any time.

12.2 Upon termination, any non-disputed available funds will be deposited into a seller’s bank account. FEATSY reserves the right, upon termination of access to FEATSY payments, to set off against any payments to be made to the seller, an amount determined by FEATSY to be adequate to cover any anticipated charge-backs, refunds, adjustments or other amounts that might be paid to customers in connection with purchases from the seller’s payment account for a prospective 60(sixty)day period. At the end of the 60(sixty)day period following termination, FEATSY will disburse to the seller any amount not used to offset charge-backs, refunds, adjustments, or such other amounts paid to customers, or seek reimbursement from the seller via any of the means authorised in this Policy or in law for any additional amount required to offset charge-backs, refunds, adjustments, or other amounts paid to customers, as applicable.