1. Introduction
This Payment Processing & Settlement Disclaimer Policy (“Policy”) explains the operational payment structure used within the KeynoBite platform ecosystem.
KeynoBite is a restaurant commerce and operational technology platform operated by Keynoverse FZC.
This Policy is intended to clarify the role of KeynoBite in relation to:
- payment processing,
- merchant onboarding,
- settlement flows,
- operational integrations,
- and restaurant/vendor payment infrastructure.
By using the platform, all users, merchants, vendors, and related parties acknowledge and agree to the structure described in this Policy.
2. Nature of the Platform
KeynoBite operates solely as:
- a SaaS platform provider,
- restaurant commerce infrastructure provider,
- operational workflow system,
- technology integration layer,
- and merchant enablement ecosystem.
KeynoBite itself does not operate as:
- a payment service provider (PSP),
- payment gateway,
- payment facilitator,
- wallet operator,
- remittance provider,
- fund custodian,
- marketplace settlement operator,
- acquiring institution,
- or regulated financial institution.
3. Independent Merchant Model
Restaurants/vendors using KeynoBite operate as independent business entities.
Each restaurant/vendor remains solely responsible for:
- its own business operations,
- customer transactions,
- tax obligations,
- compliance obligations,
- refunds,
- and financial activities relating to its own customers.
Customer transactions occur directly between:
- the customer,
- and
- the respective restaurant/vendor.
4. Merchant Payment Infrastructure
Where payment functionality is enabled within the KeynoBite ecosystem:
- restaurants/vendors maintain their own independent relationship with licensed payment service providers (PSPs),
- restaurants/vendors undergo direct PSP onboarding and KYC/compliance verification,
- restaurants/vendors receive their own merchant accounts or PSP-issued credentials,
- and restaurants/vendors independently process customer transactions through their own PSP relationship.
KeynoBite may provide operational integration capabilities enabling merchants to connect their PSP-issued APIs or payment credentials into platform workflows.
5. Settlement Structure
For restaurant/vendor transactions:
- settlement occurs directly between the licensed PSP and the respective restaurant/vendor,
- funds are settled directly into the merchant/vendor’s designated bank account,
- and the merchant/vendor independently receives and manages its own transaction proceeds.
KeynoBite does not:
- receive merchant settlement funds,
- pool merchant balances,
- intermediate settlements,
- reroute funds,
- temporarily hold customer transaction proceeds,
- operate custodial accounts,
- or distribute merchant payouts.
6. No Marketplace Settlement Model
KeynoBite does not operate a marketplace settlement structure.
Specifically, KeynoBite does not:
- collect customer payments on behalf of merchants,
- aggregate merchant transactions,
- maintain merchant wallets,
- manage escrow balances,
- perform split settlements,
- or redistribute transaction proceeds to merchants.
Restaurants/vendors independently process their own customer transactions through their own PSP relationships.
7. Merchant Referral & PSP Integration Model
KeynoBite may maintain partnerships or integrations with licensed PSPs for the purpose of:
- merchant referrals,
- onboarding facilitation,
- operational integrations,
- workflow enablement,
- and payment infrastructure connectivity.
Under this structure:
- merchants are onboarded directly with the PSP,
- merchants remain independent entities under the PSP relationship,
- merchants undergo direct compliance review by the PSP,
- and merchants maintain independent payment processing capabilities.
KeynoBite does not act as a sub-merchant master account, payment intermediary, or settlement operator.
8. Subscription & SaaS Charges
Separately from restaurant/vendor customer transactions, KeynoBite may independently charge:
- SaaS subscription fees,
- onboarding fees,
- enterprise software fees,
- operational module fees,
- integration fees,
- or related platform service charges
for access to KeynoBite’s own software services.
In such cases, KeynoBite acts solely as merchant-of-record for its own software and technology services.
These charges are separate from restaurant/vendor customer transaction processing.
9. Payment Security
Payment processing activities are handled within the secure environments of licensed PSPs.
KeynoBite itself does not:
- store customer card information,
- process card authorizations directly,
- or maintain sensitive payment credentials within its platform infrastructure.
Payment pages, hosted checkout environments, tokenization systems, and payment authorization controls may be operated directly by the applicable PSP.
10. Merchant Responsibilities
Restaurants/vendors remain solely responsible for:
- complying with PSP requirements,
- maintaining lawful business operations,
- handling refunds and disputes,
- customer support,
- tax obligations,
- chargeback management,
- and regulatory compliance applicable to their own activities.
KeynoBite may suspend integrations or platform access where fraud, misuse, compliance concerns, or unlawful activity are identified.
11. Limitation of Liability
To the maximum extent permitted by applicable law, KeynoBite shall not be liable for:
- PSP operational failures,
- settlement delays,
- banking interruptions,
- payment disputes,
- chargebacks,
- merchant financial losses,
- or third-party payment infrastructure issues.
Restaurants/vendors acknowledge that payment processing and settlement remain subject to the terms, policies, operational procedures, and compliance frameworks of their respective PSP providers.
12. Changes to This Policy
KeynoBite may update this Policy periodically to reflect:
- operational changes,
- platform enhancements,
- regulatory considerations,
- PSP integrations,
- or infrastructure updates.
Continued use of the platform constitutes acceptance of the updated Policy.
13. Contact
For payment infrastructure, compliance, or operational inquiries:
Email: info@keynobite.com
Website: KeynoBite
Operated by: Keynoverse FZC