Product Construct. For purposes of the High-AOV Product only, and regardless of any provisions to the contrary in the Agreement, the Parties have agreed to the following “Product Construct”:
a) Once Affirm has finalized Customer Agreements in consultation with Shopify in accordance with Section 5.1 of the Agreement (provided, that Affirm will have sole control and discretion related to any Customer Agreements), Shopify shall generate a final digital product of such Customer Agreements and render as a payment option for Customers within Shop Pay at checkout on the Platform. In the event a Customer selects the Program option to pay for goods or services, it shall be directed to payment details and underwriting, as agreed upon by both parties. Shopify is responsible to render the Customer Agreements as directed by Xxxxxx and to provide Affirm [***] reports to validate that each Customer viewed the required Customer Agreements. Failure by Shopify to meet its obligation as to the Customer Agreements will subject it to penalties as agreed by the Parties. In addition, Affirm shall have the right to refuse to provide the Program to Customers in the event Shopify does not render the Customer Agreements as directed by Xxxxxx.
b) With respect to data collection at checkout, Bank and Affirm may use the Customer Information provided to it by Shopify through the SHOP App for purposes of providing or underwriting the High-AOV Product to Customers. To the extent additional GLBA NPI is needed by Affirm from the Customer to provide the High-AOV Product, Affirm shall direct Shopify to render and collect the GLBA NPI and ensure its proper use and storage. Shopify is responsible to render the GLBA NPI request and store/use it as directed by Xxxxxx. Upon request, Shopify will provide Affirm with a report to validate its compliance with Affirm’s directions, such compliance to be subject to validation by Affirm through reporting or audit rights.
c) Any Customer electronic mail (“email”) and SMS text communications regarding the terms or repayments of the Financial Product shall be sent by Affirm with mutually agreed upon Shop Pay branding with a link out to the Shop mobile app and from the “[***]” email address with “[***]” as the sender. As to all other communications to Customers, including but not limited to, (i) welcome messages, (ii) general Program information, (iii) general account creation, (iv) general Shop Pay information (check account, update information, etc.), Shopify is permitted to ...
Product Construct. For purposes of the First Product only, and regardless of any provisions to the contrary in the Agreement, the Parties have agreed to the following “Product Construct”:
a) Once Affirm has finalized Customer Agreements, Shopify shall [***] render as a payment option for Customers within Shop Pay [***] to be called a mutually agreed upon Program name. In the event a Customer selects the Program option to pay for goods or services, it shall be directed [***] for the [***]. Shopify is responsible to [***] and to [***]. [***]. In addition, Affirm shall have the right to [***].
b) With respect to data collection [***], Affirm may [***]. To the extent additional GLBA NPI is needed by Affirm from the Customer to provide the First Product, Affirm shall [***]. Shopify is also responsible to provide Affirm monthly reporting [***].
c) Any Customer electronic mail (“email”) and SMS text communications regarding the terms or repayments of the Financial Product shall be sent [***] from the “[***]” email address with “Shop Pay” as the sender. As to [***] communications to Customers[***] (i) welcome messages, (ii) general Program information, (iii) general account creation, (iv) general Shop Pay information (check account, update information, etc.), Shopify [***].
d) With respect to the post-purchase user/Customer portal, the Parties agree [***]. Shopify is responsible [***]. The Parties agree [***] to optimize the Customer’s user experience for the Financial Product as set forth in Section 14 of the Agreement.
Product Construct. Lucky Savers is as 12-month Share Certificate, with dividend/interest rates that are set independently by each participating credit union. For every $25 in month-over-month balance increase in a Lucky Savers account, that account holder will be entered into the monthly and quarterly prize drawings, with a limit of 10 entries per month, per member. See Exhibit B: Official Rules Template for current prize allocation, amounts and other information. Each credit union may also opt to offer additional monthly prizes for their members and staff. These prize amounts are to be determined by the credit union and will be funded by the credit union. Prizes will be awarded in the form of dividends to the winners’ traditional share accounts and must be included in an annual 1099 form, which must be provided by the credit union. Other accrued interest should be deposited into the Share Certificate account. Details of the account: 12-month Share Certificate with ongoing deposit functionality Interest rate and payments: set independently by each Credit Union Minimum opening deposit and minimum balance requirement: $25 Minimum deposits/month: none Maximum deposits/month: none* Account dollar cap: none* Withdrawal: one per 12 month term Withdrawal penalty: $25 Account holder requirements: Age 18+ Employee participation: yes Employee’s family: no restrictions (Credit Unions may make exceptions at their discretion and can include such restrictions in the Exhibit B: Official Rules Template). Corporations, limited liability companies, partnerships, associations, sole proprietorships, trust accounts, business and labor organizations, other public or private entities, employees, board of directors, officers and vendors of participating credit unions are not eligible. *Credit unions may choose to cap the certificate value provided it doesn’t limit the member to less than the total maximum entries per month. Members must be permitted to deposit up to $250 per month which totals $3,000 per year. If you choose to implement a cap, you must disclose this in your truth-in-savings disclosure and official rules document.
Product Construct. For purposes of the First Product only, and regardless of any provisions to the contrary in the Agreement, the Parties have agreed to the following “Product Construct”:
(a) Once Affirm has finalized Customer Agreements, Shopify shall [***] and render as a payment option for Customers within Shop Pay [***] to be called a mutually agreed upon Program name. In the event a Customer selects the Program option to pay for goods or services, it shall be directed [***] for the [***]. Shopify is responsible to [***] and to [***]. Failure by Shopify to meet its obligation as to the Customer Agreements will subject it to penalties as agreed by the Parties. In addition, Affirm shall have the right to [***].
(b) With respect to data collection [***], Affirm may [***]. To the extent additional GLBA NPI is needed by Affirm from the Customer to provide the First Product, Affirm shall [***]. [***]. Shopify is also responsible to provide Affirm monthly reporting [***].
(c) Any Customer electronic mail (“email”) and SMS text communications regarding the terms or repayments of the Financial Product shall be sent [***] from the [***] email address with “Shop Pay” as the sender. As to [***] communications to Customers, [***], (i) welcome messages, (ii) general Program information, (iii) general account creation, (iv) general Shop Pay information (check account, update information, etc.), Shopify [***].
(d) With respect to the Customer Engagement Functionality, the Parties agree [***]. Shopify is responsible [***]. The Parties agree [***] to optimize the Customer’s user experience for the Financial Product as set forth in Section 14 of the Agreement.
Product Construct. For purposes of the POS Product only, and in addition to (i) Section 2 of Exhibit C-1 (First Program Outline - Low AOV Product) (as amended, the “Low AOV Program Outline”) and (ii) Section 2 of the Exhibit C-2 (Second Program - High AOV Product) (as amended, the “High AOV Program Outline”), the Parties have agreed to the following as the minimum requirements necessary for the “Product Construct” for the POS Product. To the extent that there are any changes to the POS Product the Parties will mutually agree to such changes (email sufficient).
