Thank you for your interest in Bolt, Inc. (“Bolt”). Unlike other payment platforms, Bolt provides protection to merchants against certain fraudulent or unauthorized transactions (“Covered Transactions”) if merchants provide Bolt notice of such Covered Transactions within the applicable chargeback claim period, as further described in this policy.
Covered Transactions are transactions that occur when the cardholder does not give authorization for payment to be made. For example:
In addition, in order for a transaction to be a Covered Transaction for purposes of this policy, the transaction must meet the following criteria:
If the transaction does not meet the criteria described above, the transaction is not a Covered Transaction and the merchant is solely responsible for resolving the issue and providing any required chargeback.
Bolt also provides protection to merchants against certain fraudulent or unauthorized transactions for Qualifying Digital Orders that meet the requirements for Covered Transactions as further described in these Chargeback Terms. “Digital Orders” are transactions processed for digital or online-only, non-physical products, such as online-only gift cards or online services. Transactions that require a shipment or physical delivery are not Digital Orders. A percentage of your Digital Orders each calendar month will be considered “Qualifying Digital Orders,” up to an amount equal to one percent (1%) of the total value of all your transactions processed via the Bolt Platform that month. For example, if transactions valued at $1,000 for all sales are processed by us in a calendar month, and $100 of those transactions are for Digital Orders, up to $10 of your transactions for Digital Orders will be Qualifying Digital Orders. Qualifying Digital Orders are considered Covered Transactions under these Chargeback Terms, provided that no Excluded Transactions will qualify as Qualifying Digital Orders.
Bolt is not responsible or liable for costs associated with transactions where the cardholder does not dispute whether they authorized a payment but has disputed a transaction for some other reason (“Excluded Transactions“). For example, Excluded Transactions may include but are not limited to:
Additionally, Bolt is not responsible for:
For any Excluded Transactions, merchants are responsible and liable for:
The merchant is responsible for disputing chargebacks for Excluded Transactions. However, Bolt may help the merchant fight the chargeback. The merchant may need to provide Bolt certain information as requested by Bolt to help fight the chargeback with card networks. If the merchant wins the dispute, the merchant will receive the full order amount and the $15 fee credited back to its account.
Upon verification by Bolt that a transaction is a Covered Transaction eligible for chargeback pursuant to this policy, Bolt will issue a chargeback directly to the cardholder for the total amount that was charged pursuant to the applicable Covered Transaction. The chargeback may take up to 10 business days to transfer to the cardholder’s account. Once issued, a chargeback is the merchant and the cardholder’s sole and exclusive remedy against Bolt for the applicable Covered Transaction.
Note: Notwithstanding anything to the contrary in this policy, the merchant is obligated to mitigate losses with respect to Covered Transactions. Bolt has 10 business days from the date of initiation of any Covered Transaction, but no later than the time that the merchant incurs a loss from such Covered Transaction, to notify the merchant that Bolt has reason to believe or has otherwise detected that a Covered Transaction is fraudulent. The merchant must promptly cancel, invalidate, not process such Covered Transaction, or otherwise make a good faith attempt to mitigate against any loss to the merchant. The merchant must notify Bolt if it was able to mitigate all or some of the loss from such Covered Transaction. If the merchant is able to mitigate against any loss, and to the extent permitted under any applicable agreement between Bolt and the merchant, Bolt reserves the right to withdraw funds previously approved and deposited into the merchant’s account and to refund such amounts to the cardholder directly without any further liability to the merchant.