In-App payment also refers to a mobile-based payment in which the Vendor calls the WeChat payment module by using the open SDK integrated in their mobile-based app to pay for transactions.
Settlement per amount:The minimum amount of transfer to Merchant by Tenpay is US$5,000 or its equivalent in other currencies. If the settlement payment to Merchant is less than US$5,000 or its equivalent in other currencies in any settlement period, such settlement payment will not be remitted to Merchant and will be accrued to the next settlement period.
Settlement Period:Settlement shall be made based on T+1, which means a transaction on T day shall be settled on T+1 (in case of a statutory public holiday at the place where Tenpay is located, settlement shall be made on the day following the statutory public holiday).
The Handling Fee of Transfer shall be shared between the Parties, means that the Handling Fee for transfer of settlement payment receivables by Merchant from the PRC banks to a foreign bank shall be borne by Tenpay, and all other charges such as the costs of intermediary banks or receiving banks shall be borne by Merchant.