Terms & Conditions

These Terms and Conditions govern your use of PayLock, a New Zealand–based escrow-style payment service that facilitates secure offers between Buyers and Sellers using Stripe. By using PayLock, you agree to these Terms.

1. Definitions

"PayLock" refers to the payment-facilitation platform operated by PayLock (NZ). PayLock is not a marketplace, seller, buyer, courier, authenticator, or dispute resolution service.

"Buyer" refers to any user who submits an Offer, commits funds, or uses PayLock to facilitate the purchase of an item from a Seller.

"Seller" refers to any user who accepts Offers and receives funds from a Buyer through PayLock.

"User" refers to any individual or entity who accesses or uses the PayLock Service, including both Buyers and Sellers. Users are bound by these Terms and Conditions and are responsible for all activity under their account or payment authorization.

"Offer" means a Buyer's paid commitment to purchase an item or pay a deposit for professional work, employment, duty, assistance or help at a specified price using PayLock's escrow system. When a Buyer submits an Offer, the payment amount is immediately authorized and held in escrow by Stripe.

"Escrow Period" means the seven (7) day period during which funds are held by Stripe until released to the Seller in accordance with these Terms.

"Stripe" means Stripe, Inc. and its affiliates, the third-party payment processor used by PayLock to manage all payments, holds, verifications, and disbursements.

"Service" means the PayLock website and payment-escrow functionality.

2. How PayLock works

PayLock allows Buyers to submit Offers and securely commit funds into a Stripe-managed escrow hold. If the Seller accepts the Offer, the funds remain in escrow until:

• the Buyer confirms the offer; or
• the escrow period expires without confirmation, at which point funds are automatically released to the Seller.

If a Seller declines an Offer, the escrow is cancelled immediately, and funds are released back to the Buyer.

PayLock never stores payment information. All financial data is handled exclusively by Stripe.

3. Seller responsibilities

Sellers must accurately describe the item/work being sold and comply with New Zealand consumer and fair-trading laws. Sellers must ensure that all item/work descriptions, prices, and representations are accurate and truthful at the time an Offer is received. By accepting an Offer through PayLock, the Seller enters a binding agreement to supply the item exactly as described and to complete the offer with the Buyer.

Sellers are responsible for ensuring the item/work is available, functional, and ready for handover at the agreed meeting time or ready for shipment if applicable. Once the Seller accepts the Offer, the Seller must make reasonable efforts to communicate with the Buyer to arrange pick-up, delivery or completion of work.

If a Buyer disputes the offer (see section 9) condition or non-receipt of an item, the Seller must provide clear evidence – such as photographs, messages, or shipping documentation – when requested. Failure to provide proof may result in the authorized funds being refunded to the Buyer after manual review.

Sellers must not engage in misleading conduct, must not attempt to circumvent the escrow process, and must not request direct payment from Buyers. Sellers acknowledge that PayLock releases funds only after Buyer confirmation or after the standard escrow period expires. Sellers are responsible for complying with all applicable New Zealand laws relating to the sale of goods.

Sellers must comply with Stripe's onboarding requirements for a payout account and provide all documentation required by Stripe.

4. Buyer responsibilities

Buyers must ensure they understand the item/work being paid for and submit Offers only when they intend to complete the offer. Buyers must inspect the item at the time of pickup or delivery and confirm the offer only when satisfied.

If the Buyer's Offer is accepted, the Buyer has seven (7) days to confirm the offer. During this period, the Buyer may accept the offer is complete whereby the funds will automatically be released to the Seller from escrow or dispute the offer in accordance with section 9.

If the Buyer does not act to confirm nor dispute the offer within seven (7) days of the Seller accepting the Offer, PayLock will consider the offer complete, at which point the funds are automatically released to the Seller. PayLock cannot reverse or override this process once a Seller has accepted an Offer.

If a Buyer changes their mind before the Seller accepts the Offer, the Buyer may cancel the Offer, and the authorized funds are immediately released back to the Buyer.

If a Buyer changes their mind after the Seller accepts the Offer, the Offer becomes binding within the PayLock process. PayLock cannot reverse or override this process once a Seller has accepted an Offer. At this point, the Buyer is committed to the purchase unless a dispute is raised in accordance with section 9.

It is the Buyer's responsibility to read item descriptions carefully, ask questions if needed, and take all necessary precautions to ensure satisfaction with the offer. Buyers must communicate directly with Sellers regarding inspection and pick-up arrangements and must attempt to resolve any disputes with the Seller independently.

Buyers are fully responsible for their own security and due diligence when meeting or dealing with Sellers.

5. PayLock responsibilities

PayLock provides a secure payment-flow system that uses Stripe to hold and release funds. PayLock must ensure its website and escrow logic function correctly.

PayLock does not directly:

• verify users
• authenticate, inspect, store or sell items
• authenticate, interview or verify work professionals
• guarantee communication between users
• handle or store credit card numbers, bank accounts, or ID documents.

PayLock does not override Stripe decisions, including risk holds, verification requests, or delays.

PayLock is responsible only for the correct operation of its platform and the initiation of payment instructions to Stripe.

6. Stripe services

All payments made through PayLock are processed by Stripe.

By using PayLock, you also agree to Stripe's Terms of Service. Stripe may request additional identity verification from Sellers, and Sellers must complete these steps to receive payments.

Stripe securely encrypts and processes all financial data. PayLock does not store, access, or transmit your bank details, card information, or identity documents.

Stripe maintains a presence in New Zealand, including an office in Wellington, and is widely used by major NZ businesses.

7. Privacy and data storage

PayLock collects only minimal information required for the service to function, such as email addresses for sending invoices or payment links.

PayLock does not store:

• credit card numbers
• bank account numbers
• identity documents
• payment authentication data.

All sensitive data is stored and processed by Stripe.

PayLock complies with the New Zealand Privacy Act 2020.

PayLock does not sell or share user data.

8. Disclaimers and limitation of liability

To the fullest extent permitted by New Zealand law:

• PayLock is not responsible for fraud, scams, misrepresentations, damaged goods, quality issues, disputes, failed meetups, or theft
• PayLock is not responsible for losses arising from the actions, omissions, or behavior of users
• PayLock does not guarantee the completion of any offer
• PayLock does not control Stripe's decisions, delays, verification requirements, or risk procedures
• PayLock is not liable for indirect, consequential, or financial loss resulting from use of the Service.

Your use of the Service is at your own risk. You must exercise caution when meeting unknown users or handling private sales.

9. Disputes

PayLock does not mediate disputes between users, and encourages both parties to attempt resolution safely, amicably and respectfully. If, for whatever reason, no mutual agreement is reached between the users, the Buyer has up to seven (7) days from the time an Offer is accepted to dispute the offer. Disputes may be raised for reasons including, but not limited to, the item not being as described, the item not being available, or the item not being provided at all.

Once a dispute is lodged, the escrow funds are immediately paused, and no money will be released to either party until PayLock has completed a manual review. Both the Buyer and the Seller must provide any relevant documentation that supports their claim. This may include screenshots of messages, photos, videos, timestamps, pick-up agreements, or proof of delivery.

If either party fails to provide sufficient information, PayLock may make a determination based on the available evidence.

PayLock will review the information provided and decide whether the funds are to be released to the Seller or refunded to the Buyer. All decisions made by PayLock regarding disputed offers are final and not subject to appeal. Once Stripe releases funds to either the Buyer or the Seller according to the escrow rules, the offer is considered final.

To prevent abuse of the disputes process, PayLock reserves the right to take action against users who repeatedly file disputes without valid justification or in bad faith. This may include limiting the user's ability to initiate future disputes, temporarily or permanently suspending access to the PayLock service, or flagging the account for review. Repeat offenders may also be subject to further restrictions or permanent removal from the platform at PayLock's discretion.

10. Termination

PayLock may suspend or terminate access to the Service at any time if misuse, fraud, abuse, or violation of these Terms is detected.

11. Amendments

PayLock may update these Terms at any time. Your continued use of the Service constitutes acceptance of the revised Terms.

12. Governing law

These Terms are governed by the laws of New Zealand. Any disputes shall be submitted to the appropriate courts in New Zealand.