Merchant Terms of Use

Effective Date: July 2026 | Last Updated: July 2026

These Merchant Terms of Use (“Terms“) constitute a legally binding agreement between you (“Merchant“, “you“, “your“) and vBuy Limited (“vBuy“, “we“, “us“, “our“), a company registered in England and Wales. By registering as a merchant on the vBuy platform (“Platform“), you agree to be bound by these Terms in their entirety. If you do not agree, you must not register or use the Platform as a merchant.

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1. Definitions

In these Terms, the following words have the meanings set out below:

“Consumer” or “Customer” means a registered buyer on the Platform.
“v£” (v-Pounds) means the digital reward token used on the Platform, redeemable at a fixed rate of v£1 = £1 GBP at checkout.
“Distribution Wallet” means the merchant wallet that holds v£ purchased from vBuy, used exclusively to fund customer cashback rewards.
“Acceptance Wallet” means the merchant wallet that receives v£ from completed sales, subject to a 30-day lock period.
“Multiplier” means the rate at which a merchant purchases v£ from vBuy (e.g., 2× multiplier means £1 GBP buys v£2).
“Master Product” means a shared product definition on the Platform under which multiple merchants may list their own pricing, stock, and reward percentages.
“Withdrawal Rate” means the GBP value at which merchants may withdraw v£ from their Acceptance Wallet, currently v£1 = £0.80 GBP (subject to change by vBuy).
“Working Day” means any day other than a Saturday, Sunday, or public holiday in England and Wales.

2. Eligibility & Registration

2.1 To register as a merchant, you must be a business entity or sole trader lawfully operating in the United Kingdom. You must be at least 18 years of age and have the legal authority to bind the business you represent.

2.2 During registration you must provide accurate and complete information including, but not limited to: your full legal name, business trading name, registered business address, company registration number (if applicable), VAT registration number (if applicable), contact telephone number, email address, and time trading.

2.3 You must not register more than one merchant account. Each merchant account corresponds to a single business entity. If you operate multiple businesses, you must contact vBuy to discuss separate registrations.

2.4 Registration does not guarantee acceptance onto the Platform. All merchant applications are subject to review and approval by vBuy administration, which may be withheld at our absolute discretion.

2.5 Upon registration, you will be assigned an internal unique identifier for platform and wallet purposes.

3. KYC & Document Verification

3.1 As part of the application process, you must upload Know Your Customer (KYC) documentation to verify your identity and business legitimacy. Required documents include:

Certificate of Incorporation (or equivalent for sole traders)
Articles of Association (if applicable)
Proof of Business Address (utility bill or bank statement dated within the last 3 months)
Government-issued photo identification of a beneficial owner or director
Proof of personal address of the beneficial owner

3.2 vBuy reserves the right to request additional documentation at any time, both during the application process and after approval, for ongoing due diligence in accordance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

3.3 Documents that are rejected must be re-uploaded within 14 days. Failure to provide satisfactory documentation may result in the rejection or suspension of your merchant account.

3.4 All documents are stored securely and processed in accordance with our Privacy Policy (Section 21 below).

4. Account Responsibilities

4.1 You are responsible for maintaining the confidentiality of your account credentials. You must not share your login details with any third party.

4.2 You must promptly notify vBuy of any unauthorised access to your account or any security breach.

4.3 You must keep your business information, contact details, and bank details up to date at all times. Changes to bank details require re-validation by vBuy administration before future withdrawals can be processed.

4.4 Merchant accounts are for selling purposes only. Merchants may not use the Platform to purchase products as a consumer. If you wish to buy products, you must register a separate consumer account.

5. Product Listings

5.1 You are solely responsible for the accuracy, completeness, and legality of all product listings you create on the Platform, including but not limited to: product titles, descriptions, images, pricing, stock quantities, and shipping details.

5.2 All products must comply with applicable UK laws and regulations including, without limitation, the Consumer Rights Act 2015, the Consumer Protection from Unfair Trading Regulations 2008, the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, and all relevant product safety legislation.

5.3 Products must be physical goods. The Platform does not support digital, downloadable, or virtual products.

5.4 Each product must have a valid barcode (EAN/UPC, 11–16 digits). Barcodes are used for product identification and must pass EAN-13 checksum validation where applicable.

5.5 Product titles and descriptions must not contain offensive, banned, or misleading language. vBuy maintains a banned words list and reserves the right to block publication of products that contain prohibited terms.

5.6 Product images must accurately represent the product being sold. Images are subject to automated moderation and may be flagged or blocked if they contain inappropriate content (including but not limited to adult, violent, or racy imagery). vBuy uses Google Cloud Vision SafeSearch technology for image moderation.

5.7 All new product listings are created in draft status. You must ensure all required fields are completed before publishing. Published listings are visible to consumers on the Platform.

5.8 vBuy reserves the right to suspend, delist, or remove any product listing at any time and for any reason, including but not limited to: legal non-compliance, consumer complaints, image moderation failures, or breach of these Terms.

6. Master Products & Shared Listings

6.1 Where a product with the same barcode already exists on the Platform (a “Master Product”), you must list under the existing product definition rather than creating a duplicate listing.

6.2 When listing under a Master Product, the product title, description, images, categories, and attributes are locked and shared across all merchants selling that product. You may only set your own price, stock quantity, reward percentage, and shipping details.

6.3 If you wish to change the shared fields of a Master Product (e.g., update an image or correct a description), you must submit a change request through the Platform. Change requests are reviewed and approved or rejected by vBuy administration at its discretion.

6.4 The “Featured Seller” for a Master Product is the merchant offering the lowest net price to the consumer (calculated as price minus cashback reward value). The Featured Seller is displayed as the default purchase option on the product page.

7. Pricing & Cashback Rewards

7.1 You set your own sale prices for all products. All prices must be displayed in GBP (£) and include VAT where applicable, in accordance with the Price Marking Order 2004.

7.2 You must set a cashback reward percentage for each product. The minimum reward percentage is set by vBuy (currently 8% of the GBP-paid portion, though this minimum may be adjusted). The maximum reward percentage is set per merchant by vBuy administration during the onboarding process.

7.3 Rewards are calculated on the GBP-paid portion of the product price and shipping cost. Where a consumer applies v£ rewards at checkout, the reward is calculated only on the remaining GBP balance, not on the v£ portion.

7.4 You must maintain a sufficient v£ balance in your Distribution Wallet to cover all advertised rewards across your published product listings. If your Distribution Wallet balance falls below the minimum required liability, your listings may be automatically suspended until you top up.

8. v£ Wallet System

8.1 Overview. v£ is a digital reward token used exclusively on the vBuy Platform. v£ is not legal tender, cryptocurrency, or an electronic money instrument. It functions as a voucher or reward credit redeemable only within the Platform ecosystem.

8.2 Distribution Wallet. Your Distribution Wallet holds v£ purchased from vBuy. These tokens are used exclusively to fund cashback rewards for consumers who purchase your products. You may not use Distribution Wallet funds for any other purpose.

8.3 Acceptance Wallet. Your Acceptance Wallet receives v£ from completed sales. The total v£ received equals the full product price plus shipping cost of the order. All v£ in the Acceptance Wallet is subject to a mandatory 30-day lock period from the date of purchase (see Section 8.6).

8.4 Purchasing v£. You may purchase v£ from vBuy at the multiplier rate set for your account. For example, at a 2× multiplier, £1 GBP purchases v£2. The multiplier rate is set by vBuy during your onboarding and may be adjusted at any time at vBuy’s discretion. Multiplier rates range from 1.5× to 5.0×. An enhanced onboarding multiplier may be offered for your initial v£ allocation.

8.5 Internal Transfers. You may transfer v£ from your Acceptance Wallet to your Distribution Wallet (subject to the 30-day lock and refund reserve requirements). Transfers in the reverse direction (Distribution to Acceptance) are not permitted.

8.6 30-Day Lock Period. In accordance with the Consumer Credit Act 1974 and consumer protection best practice, all v£ received into your Acceptance Wallet is locked for 30 days from the date of the underlying transaction. During this period, v£ cannot be withdrawn or transferred. This lock period is mandatory and cannot be overridden by vBuy or the merchant.

8.7 No Interest. v£ held in any wallet does not accrue interest. vBuy is not a bank and does not provide banking services.

9. Order Fulfilment & Shipping

9.1 Upon receiving an order, you must process and dispatch the product(s) within the processing time stated in your listing. Failure to fulfil orders promptly may result in account penalties, listing suspension, or termination.

9.2 You are responsible for providing accurate shipping information and valid tracking details where applicable. Shipping costs must be clearly stated in your product listing.

9.3 You bear all risk of loss or damage during transit until the product is delivered to the consumer. In accordance with the Consumer Rights Act 2015, goods remain at the trader’s risk until they come into the physical possession of the consumer (or a person identified by the consumer to take possession).

9.4 Orders not fulfilled within 24 hours of payment are subject to automatic cancellation. Consumers may also cancel pending orders manually at any point before dispatch.

9.5 The Platform supports multi-vendor carts. A single consumer order may contain products from multiple merchants. You are responsible only for fulfilling the items you sell within that order.

10. Refunds & Disputes

10.1 Consumer Rights. Under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, consumers have a statutory right to cancel an online purchase within 14 days of receiving the goods without giving any reason. This right is in addition to any rights under the Consumer Rights Act 2015 (e.g., goods not as described, faulty, or not fit for purpose).

10.2 Refund Requests. When a consumer requests a refund, you will receive a notification through the Platform. You must respond to all refund requests within 3 Working Days by either approving or rejecting the request with a clear reason.

10.3 Refund Processing. Refunds on the vBuy Platform are processed by vBuy administration, not by the merchant directly. When a refund is approved, vBuy pays the consumer the GBP refund amount. All v£ movements associated with the original transaction are fully reversed.

10.4 Disputes. If a consumer’s refund request is rejected by the merchant, the consumer may raise a dispute. Each rejected refund allows one dispute. Disputes are reviewed by vBuy administration, whose decision is final and binding on both parties. There is no further appeal beyond vBuy’s dispute resolution.

10.5 Partial Refunds. Multi-product orders support per-item refund processing. Each item within an order may be refunded independently; the overall order status will reflect “Partially Refunded” where applicable.

10.6 v£ Refund Option. Consumers may opt to receive their GBP refund as v£ credit plus a 5% bonus. This election is made by the consumer and does not affect your obligations.

10.7 Excessive Refund Rate. vBuy reserves the right to investigate merchants with an unusually high refund or dispute rate. Persistent quality or service issues may result in account suspension or termination.

11. Payments & Settlement

11.1 All consumer payments are collected by vBuy via its payment service providers (currently Stripe for card payments and open banking). vBuy acts as the merchant of record for consumer transactions.

11.2 Upon a confirmed and completed order, v£ equal to the full product price plus shipping is transferred from the vBuy Admin Distribution Wallet to your Acceptance Wallet. Simultaneously, v£ equal to the consumer’s cashback reward is transferred from your Distribution Wallet to the consumer’s Rewards Wallet.

11.3 No v£ transfers occur until payment has been confirmed by the payment gateway. Failed, cancelled, or timed-out payments result in no v£ movement.

11.4 Where a consumer applies v£ at checkout, the v£ discount is split proportionally across all vendors in the cart (based on each vendor’s share of the total including shipping). Your Acceptance Wallet receives the full product price + shipping in v£, regardless of whether the consumer paid partly in v£ or entirely in GBP.

12. Withdrawals

12.1 You may request withdrawal of unlocked v£ from your Acceptance Wallet at any time. Withdrawal requests are subject to review and approval by vBuy administration.

12.2 Withdrawal Rate. Withdrawals are paid at the current withdrawal rate, which is v£1 = £0.80 GBP at the time of writing. This rate is set by vBuy and may be adjusted at any time. You will be informed of the applicable rate before confirming any withdrawal request.

12.3 Alternative: Spending v£. As an alternative to withdrawing at the withdrawal rate, you may spend v£ on the Platform at full face value (v£1 = £1), including purchasing from other merchants. Spending v£ yields approximately 25% more value than withdrawing, and vBuy actively encourages on-platform spending.

12.4 Bank Details. On your first withdrawal request, you must provide your bank account details (account holder name, account number, and sort code). These details are stored encrypted and displayed in masked format for subsequent withdrawals. Changes to bank details require re-validation by vBuy administration before further withdrawals can be processed.

12.5 Refund Reserve. Your Acceptance Wallet must retain a sufficient reserve to cover any potential refund liabilities within the 30-day lock period. vBuy will not approve withdrawals that would reduce your balance below this reserve.

12.6 Payment Method. Withdrawal payouts are made by bank transfer to the verified bank account on file. vBuy aims to process approved withdrawals within 5 Working Days but does not guarantee a specific timeframe.

13. Fees & Commission

13.1 vBuy does not charge commission on sales. There is no percentage taken from your product sales.

13.2 vBuy’s revenue model is based on the v£ minting margin and the spread between the merchant withdrawal rate and the market resale value of v£. This model does not directly impact the price you pay or the revenue you receive per sale.

13.3 vBuy reserves the right to introduce additional fees or charges in the future with at least 30 days’ written notice. Continued use of the Platform after such notice constitutes acceptance of the updated fee structure.

14. Prohibited Conduct

14.1 You must not:

List or sell any product that is illegal under the laws of England and Wales or any other applicable jurisdiction;
List weapons, firearms, ammunition, explosives, drugs, controlled substances, or any item restricted under the Firearms Act 1968, Offensive Weapons Act 2019, or Psychoactive Substances Act 2016;
List counterfeit, stolen, or unauthorised replica goods;
Misrepresent product condition, origin, specifications, or any material attribute;
Engage in price manipulation, fake reviews, or any form of unfair trading practice as defined in the Consumer Protection from Unfair Trading Regulations 2008;
Attempt to manipulate the v£ reward system, including but not limited to creating fictitious transactions, self-purchasing, or any scheme designed to generate v£ rewards fraudulently;
Transfer, sell, or assign your merchant account to any third party without prior written consent from vBuy;
Use the Platform to collect consumer personal data for purposes outside of order fulfilment;
Circumvent, interfere with, or attempt to bypass any security feature or access control of the Platform.

15. Intellectual Property

15.1 You retain ownership of the content you upload (product images, descriptions, etc.), but you grant vBuy a non-exclusive, royalty-free, worldwide licence to use, display, reproduce, and distribute such content for the purpose of operating and promoting the Platform.

15.2 You warrant that all content you upload does not infringe the intellectual property rights of any third party. You are solely responsible for ensuring you have the necessary rights and licences for all product images and descriptions.

15.3 The vBuy name, logo, and branding are the intellectual property of vBuy Limited. You may not use our branding without prior written permission, except as necessary for identifying yourself as a vBuy marketplace seller.

16. Limitation of Liability

16.1 The Platform is provided on an “as is” and “as available” basis. vBuy does not guarantee uninterrupted access, error-free operation, or any specific level of sales or revenue.

16.2 To the maximum extent permitted by law, vBuy shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, loss of data, business interruption, or loss of goodwill, arising out of or in connection with your use of the Platform.

16.3 vBuy’s total aggregate liability to you for any claim arising under or in connection with these Terms shall not exceed the total v£ withdrawal payments made to you in the 12 months preceding the claim.

16.4 Nothing in these Terms excludes or limits liability for death or personal injury caused by negligence, fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited by applicable law.

17. Indemnification

17.1 You agree to indemnify, defend, and hold harmless vBuy, its directors, officers, employees, and agents from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or in any way connected with: (a) your breach of these Terms; (b) your product listings; (c) your fulfilment or failure to fulfil orders; (d) any claim by a consumer or third party relating to products you have sold through the Platform; or (e) your violation of any applicable law or regulation.

18. Suspension & Termination

18.1 vBuy may suspend or terminate your merchant account at any time for breach of these Terms, suspected fraudulent activity, failure to maintain minimum service standards, failure to respond to refund requests, or any other reason at vBuy’s reasonable discretion.

18.2 Upon termination: (a) all active product listings will be immediately delisted; (b) pending orders must still be fulfilled; (c) v£ in your Acceptance Wallet remains subject to the 30-day lock period; (d) after the lock period, remaining v£ may be withdrawn at the applicable withdrawal rate, subject to refund reserve deductions.

18.3 You may request termination of your account at any time by contacting vBuy administration. Termination does not release you from obligations relating to orders already placed or pending refund liabilities.

18.4 Listings may be automatically suspended if your Distribution Wallet balance falls below the minimum required to cover advertised rewards. Listings will be reactivated once you top up your Distribution Wallet to a sufficient level.

19. Changes to These Terms

19.1 vBuy reserves the right to amend these Terms at any time. Material changes will be communicated to you via the email address associated with your merchant account at least 14 days before the changes take effect.

19.2 Continued use of the Platform after the effective date of any changes constitutes your acceptance of the updated Terms. If you do not agree with the changes, you must cease using the Platform and request account termination.

20. Governing Law & Jurisdiction

20.1 These Terms are governed by and construed in accordance with the laws of England and Wales.

20.2 Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of England and Wales.

20.3 Nothing in these Terms affects the statutory rights of consumers under English law.

21. Privacy Policy for Merchants

This section sets out how vBuy collects, uses, stores, and protects personal data relating to merchants, in compliance with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.

21.1 Data Controller

vBuy Limited is the data controller for personal data collected through the Platform. Our contact details are provided in Section 22 below.

21.2 Personal Data We Collect

We collect the following categories of personal data from merchants:

Identity Data: Full name, title, date of birth, gender, government-issued identification documents.
Contact Data: Email address, telephone number, business address, personal address.
Business Data: Company name, trading name, company registration number, VAT number, years/months trading, business category.
Financial Data: Bank account details (account holder name, account number, sort code) for withdrawal processing. We do not store payment card details — these are processed directly by our payment service provider (Stripe).
KYC Documents: Certificates of incorporation, proof of address, photo identification, articles of association, and other verification documents.
Transaction Data: v£ wallet balances, transfer history, withdrawal requests, top-up history, order data, and refund records.
Technical Data: IP address, browser type, operating system, login timestamps, and session identifiers.
Communications Data: Messages sent through the Platform messaging system, change request content, and dispute correspondence.

21.3 Lawful Basis for Processing

We process your personal data on the following lawful bases under Article 6 of the UK GDPR:

Contract: Processing necessary for the performance of these Terms (e.g., managing your account, processing orders, wallet transactions, withdrawals).
Legal Obligation: Processing required to comply with applicable laws, including anti-money laundering regulations, tax obligations, and consumer protection requirements.
Legitimate Interest: Processing necessary for our legitimate business interests, including fraud prevention, platform security, and service improvement, where such interests are not overridden by your rights and freedoms.
Consent: Where you have opted in to marketing communications. You may withdraw consent at any time.

21.4 How We Use Your Data

To process and manage your merchant application and account;
To perform KYC and identity verification;
To manage v£ wallet transactions, top-ups, and withdrawals;
To process and settle orders, refunds, and disputes;
To communicate with you about your account, orders, and Platform changes;
To detect and prevent fraud, abuse, and security incidents;
To comply with legal and regulatory obligations;
To send marketing communications (where you have consented).

21.5 Data Sharing

We may share your personal data with:

Consumers: Your store name and publicly listed business information are visible to consumers. Personal details (name, email, phone) are not shared unless required for order fulfilment or dispute resolution.
Payment Processors: Stripe and other payment service providers, for processing consumer payments and merchant withdrawals.
Cloud Infrastructure Providers: Google Cloud Platform (data stored in the EU/UK region), for hosting, database, and media storage services.
Email Service Providers: For transactional and notification emails.
Legal and Regulatory Authorities: Where required by law, court order, or regulatory request.
Professional Advisers: Lawyers, auditors, and accountants, where necessary for legal compliance or dispute resolution.

We do not sell your personal data to third parties.

21.6 International Transfers

Your data is primarily stored on servers located in the United Kingdom (Google Cloud Platform, europe-west2 region). Where data is transferred outside the UK (e.g., to payment processors with global infrastructure), we ensure appropriate safeguards are in place, such as Standard Contractual Clauses approved by the Information Commissioner’s Office (ICO).

21.7 Data Retention

We retain your personal data for as long as your merchant account is active and for a period of 6 years after account termination, in accordance with HMRC record-keeping requirements and the Limitation Act 1980. KYC documents are retained for 5 years after the end of the business relationship, as required by the Money Laundering Regulations 2017. Transaction records are retained for 6 years for tax and audit purposes.

21.8 Your Rights

Under the UK GDPR, you have the following rights:

Right of Access: Request a copy of the personal data we hold about you.
Right to Rectification: Request correction of inaccurate or incomplete data.
Right to Erasure: Request deletion of your data where there is no compelling reason for its continued processing (subject to legal retention requirements).
Right to Restriction: Request that we restrict processing of your data in certain circumstances.
Right to Data Portability: Request a machine-readable copy of data you have provided to us.
Right to Object: Object to processing based on legitimate interests or direct marketing.
Right to Withdraw Consent: Where processing is based on consent, you may withdraw it at any time without affecting the lawfulness of prior processing.

To exercise any of these rights, please contact us at the details provided in Section 22. We will respond to your request within one month, as required by the UK GDPR.

21.9 Cookies

The Platform uses essential cookies for session management, authentication, and shopping cart functionality. Analytics cookies may be used with your consent. For full details, see our site-wide Cookie Policy.

21.10 Data Security

We implement appropriate technical and organisational measures to protect your personal data, including: encryption in transit (TLS/SSL), encryption at rest for sensitive data (bank details), access controls, regular security monitoring, and Google Cloud Platform’s enterprise security infrastructure. However, no method of transmission or storage is 100% secure, and we cannot guarantee absolute security.

21.11 Complaints

If you are unhappy with how we have handled your personal data, you have the right to lodge a complaint with the Information Commissioner’s Office (ICO):

Website: ico.org.uk
Telephone: 0303 123 1113

22. Contact Information

For any questions about these Terms or our privacy practices, please contact us at:

Email: support@vbuy.io
Platform: Use the messaging function within your merchant dashboard

These Merchant Terms of Use were last updated in July 2026.