Merchant Rewards Terms of Service

1. What this is

Bolt Merchant Rewards (the “Program”) is a discretionary loyalty program offered by Bolt Financial, Inc. (“Bolt”) to merchants using Bolt’s payment services (“you”). Participation is free and optional. These terms are in addition to your existing merchant agreement with Bolt; if they conflict, the merchant agreement controls.

The Program is a promotional benefit, not part of what you pay for and not consideration for any obligation of yours. Bolt may change or end the Program as described in §10.

2. Eligibility

The Program is currently available only to merchants domiciled in the United States; Bolt may expand, limit, or condition regional availability at any time. You may participate while your Bolt account is open and in good standing. “Good standing” means your account is not suspended, delinquent, in breach of your merchant agreement, or under investigation for fraud or abuse.

Points are held at the merchant-account level and may be viewed and redeemed only by users with administrator permission on that account. Bolt may rely on any administrator’s actions as the merchant’s own. Referral points (§6), where offered, are held individually by the person who earned them, not by any merchant account.

3. How points are earned

You earn points on Bolt’s processing fees on your qualifying transactions — not on your sales volume, order totals, or any amount you receive.

At launch, the rate is 5% of processing fees, credited at 100 points per $1 of fee (so $1 of processing fee earns 5 points), unless the onboarding interface through which you enrolled, or an onboarding agreement you signed, conveys different Program terms — in which case those control for your account. Only fees denominated in U.S. dollars qualify. Rates may differ by product, program phase, or merchant, and may change prospectively at any time.

Points are earned when the underlying transaction settles and Bolt records the fee. Bolt’s ledger is the sole record of your balance and is authoritative in any dispute; dashboard displays are a convenience.

4. Maturation

Newly earned points are maturing for 30 days and cannot be redeemed during that period. After 30 days they become available and may be redeemed.

Maturing points exist so that reversals (§5) can be applied before value leaves the Program. Neither maturing nor available points are a vested benefit, and either may be reduced or removed at any time under these terms.

5. Refunds, chargebacks, and reversals

If a sale is refunded in any amount, or charged back, all points earned on that sale are removed. Reversal is all-or-nothing by design: a refund of any size — including a partial refund, however small, and a refund issued through any channel — cancels every point the sale earned, whether those points are still maturing or have already become available (and even if the sale’s points were already counted toward a redemption minimum). Points are a thank-you on completed, kept business; a sale that is unwound in any part is not that.

Chargebacks — please read this clause. Points are removed when a chargeback first appears in Bolt’s records in a form that debits you, not when the dispute finally resolves. If you later win the dispute, your money is returned to you automatically; your points are not. The Program’s ledger is append-only and has no automatic re-credit. If you win a dispute for which points were removed, contact Bolt support and Bolt may restore the points manually, at its discretion.

Reversals may reduce your balance below zero. A negative balance is not a debt you owe Bolt; future earnings are applied against it before you accrue anything new.

Bolt may also reverse, withhold, or cancel points that were credited in error, credited as a result of a system fault, or credited on a transaction Bolt determines to be fraudulent, abusive, or not genuine — whenever discovered, including after maturation.

6. Referrals

Bolt may offer a referral program under which individuals earn personal points for referring another business to Bolt. Referral bonuses accrue only if and when Bolt activates the referral program; creating or sharing a referral link, or a referred business signing up, does not by itself entitle anyone to points, regardless of when the link was created or used. When active, launch terms are 10% of the points the referred business earns, for 365 days from its first qualifying transaction, credited to the referring individual’s own Bolt account — not to any merchant account — and redeemable only there.

Referral terms:

• A business can be attributed to at most one referrer, determined by Bolt’s records.
• You may not refer yourself, a business you own or control, or an affiliate, and you may not use a referral link on an account you administer.
• Bolt may void referral points and suspend referral eligibility where it determines, in its sole discretion, that a referral is not a genuine, arm’s-length introduction.
• Referral points follow the same maturation and reversal rules as all other points: if the referred business’s transactions are refunded or charged back, the corresponding referral points are removed in full.
• Ending the referral relationship, or the referred business closing its account, ends future referral earnings. It does not entitle you to points not yet earned.

7. Redemption

Available points may be redeemed for rewards offered through the Program, such as gift cards, at the rate and minimums stated at the time of redemption. At launch, 100 points = $1 of reward value, unless your onboarding interface or a signed onboarding agreement conveys different Program terms. The catalog, rates, and minimums may change at any time without notice; the rate quoted when your redemption order is created is the rate that applies to that order.

Redemption is final. Once an order is placed, it cannot be cancelled, reversed, or exchanged, and the points are spent.

Rewards are fulfilled by third-party providers, not by Bolt, on the provider’s own timeline. Those providers’ terms govern the reward itself — including expiry, usage restrictions, and any dispute about a gift card’s value or delivery. Providers are independent businesses, not Bolt’s agents. Bolt is not the issuer of any reward and is not responsible for a provider’s acts, omissions, insolvency, or failure to honor a reward. Bolt does not warrant that any particular reward will remain available.

If a redemption definitively fails before value is issued, Bolt will restore the points, and that restoration is your sole and exclusive remedy. If Bolt cannot determine whether value was issued, Bolt may hold the order open — including for manual review — and will restore the points only once it confirms nothing was delivered.

8. Points have no cash value

Points are a revocable, limited license to request rewards under these terms. They are not money, not a deposit, not a stored-value or gift card obligation, and not your property. Any dollar-equivalent display is a display and redemption convention only, not a promise of monetary value.

Points:

• have no cash value, cannot be redeemed for cash, and accrue no interest;
• cannot be sold, transferred, assigned, gifted, pledged, or combined across accounts;
• do not pass on sale of your business, change of control, or account transfer, except at Bolt’s discretion;
• are not part of any account balance, settlement, payout, or amount owed to you; do not reduce any fee you owe Bolt; and are not recoverable in any bankruptcy, insolvency, or wind-down as a debt of Bolt.

9. Expiry, suspension, and forfeiture

Points do not expire while your account is open and in good standing.

Bolt may suspend your participation, freeze earning or redemption, or forfeit some or all of your balance — with or without notice — if you breach your merchant agreement or these terms, or if Bolt determines in its sole discretion that you have engaged in fraud, abuse, manufactured or non-bona-fide volume, manipulation of earning or referrals, or any attempt to obtain points not genuinely earned. Forfeiture on these grounds is immediate and includes maturing and available points alike.

If your account closes in good standing, Bolt may — but is not obliged to — provide a redemption window for your then-available points, ordinarily 60 days from closure. Points still maturing at closure, and any points not redeemed by the end of any window Bolt provides, are forfeited.

Forfeited points are not compensable, and Bolt is not obliged to pay their notional value.

10. Changes to the Program

Bolt may change the earn rate, maturation period, referral share, referral window, redemption rate, reward catalog, minimums, or any other feature or term at any time, and may suspend earning or redemption independently, or end the Program entirely, in each case at its sole discretion.

Changes to earning apply going forward and do not retroactively alter points already earned. Changes to redemption value, reward availability, maturation, reversal rules, and these terms may apply to points you already hold.

If Bolt ends the Program, Bolt will give notice through the merchant dashboard or by email — ordinarily at least 30 days — during which you may redeem your available points. Points still maturing at the end of that period, and any points not redeemed by then, are forfeited without compensation.

Bolt will post material changes to these terms in the dashboard. Continuing to earn or redeem after a change takes effect means you accept it.

11. Taxes

You are solely responsible for determining and paying any tax arising from your participation, and for any reporting your jurisdiction requires. Bolt may be required to report rewards and may require tax documentation as a condition of redemption. Bolt does not provide tax advice.

12. No warranty; limitation of liability

The Program is provided “as is” and “as available”, and Bolt expressly disclaims all warranties, express or implied, including merchantability, fitness for a particular purpose, and non-infringement. Bolt does not warrant that the Program will be uninterrupted or error-free, or that any balance shown at a moment in time is final, and Bolt may correct errors in your balance at any time. An error, however caused, creates no entitlement.

To the maximum extent permitted by law, Bolt’s total liability arising from the Program is limited to the lesser of (a) the redemption value of the affected points, and (b) $100. Bolt is not liable for indirect, incidental, consequential, special, or punitive damages, or for lost profits or lost business opportunity, arising from the Program, a reward, a third-party provider, or any change to or termination of the Program.

Nothing here limits liability that cannot be limited by law.

13. Disputes, arbitration, and governing law

Ledger disputes. You must raise any dispute about your balance, an earning, a reversal, or a redemption within 60 days of the ledger entry; after that it is final. Bolt’s ledger is conclusive absent manifest error.

Governing law. These terms are governed by the laws of the State of Delaware, without regard to its conflict-of-laws rules.

Mandatory arbitration. Before either party may arbitrate, it must give the other written notice of the dispute (to Bolt: legal@bolt.com) and allow thirty (30) days for informal resolution, following the notice process in Section 11 of the Bolt Merchant Terms of Use. Any dispute not resolved informally will be resolved by final and binding arbitration administered by the American Arbitration Association (AAA) under its Commercial Arbitration Rules, seated in Wilmington, Delaware, before a single arbitrator, with each party bearing its own fees except as those rules provide. This arbitration agreement is governed by the Federal Arbitration Act. Judgment on the award may be entered in any court of competent jurisdiction; any Program dispute not subject to arbitration must be brought exclusively in the state and federal courts located in Kent County, Delaware. Either party may instead bring an individual claim in small-claims court, and Bolt may seek injunctive relief in court for misuse of its services, intellectual property, or the Program. You and Bolt each waive the right to a trial by jury.

Opt-out. You may opt out of this arbitration agreement only at the moment it first applies to you: by written notice to legal@bolt.com before you first earn or redeem any Points. Earning or redeeming Points without having opted out is your agreement to arbitrate. Opting out of arbitration does not affect any other provision of these terms.

Class-action waiver. All disputes must be brought in the parties’ individual capacity only — not as a plaintiff or class member in any purported class, consolidated, or representative proceeding, and the arbitrator may not consolidate claims or preside over any representative proceeding. If this waiver is found unenforceable as to a particular claim, that claim (and only that claim) must proceed in court, and this section’s remaining provisions still apply to all other claims.

One-year limit. Any claim arising out of the Program must be brought within one (1) year after it accrues, or it is permanently barred.

This section is aligned with Section 11 of the Bolt Merchant Terms of Use — the same governing law, the same arbitration provider, and the same informal-notice step — and the two are intended to be read together; for a dispute solely about the Program, this section controls.

14. Entire terms

These terms, together with your merchant agreement, are the entire agreement about the Program and supersede any prior statement about it, including marketing materials. You may not assign your rights under these terms; Bolt may assign to an affiliate or a successor. If any provision is unenforceable, the rest remains in effect. Sections 5, 8, 9, 11, 12, 13, and 14 survive termination of the Program or your participation.

Questions: support@bolt.com.