Disclosures

Terms effective as of 26 January 2025

This Disclosures page provides important information regarding Bead’s role, services, and limitations and is intended to supplement Bead’s marketing materials, website content, and applicable Terms of Service.

Scope of Services

Bead provides payment orchestration technology to merchants and platform partners. End consumers interact with Bead-enabled payment experiences through participating merchants.

Bead does not provide consumer-facing financial services directly to end users.

Bead's Role

Bead is a payments orchestration platform. Bead is not a bank, lender, or money transmitter.

Bead provides technology that enables merchants and partners to offer alternative payment methods through supported third-party providers. Regulated financial activities are performed by third-party financial institutions and payment providers, not by Bead.

Banking Services

Banking services, including settlement of U.S. dollar (USD) funds, are provided by Lead Bank, Member FDIC, and/or other regulated financial institutions, as applicable.

Bead does not accept deposits, hold customer funds, or provide FDIC insurance coverage.

Digital Asset Transactions

Bead enables acceptance of supported digital assets, including USD Coin (USDC), through third-party payment and conversion providers.

• Bead does not custody digital assets or customer funds

• Digital asset transactions are processed and converted through third-party providers in accordance with their terms

• Digital asset transactions are irreversible once confirmed

Digital assets are not legal tender, are not backed by any government, and are not FDIC insured.

Buy Now, Pay Later (BNPL)

Buy Now, Pay Later (BNPL) functionality is not currently live.

When available, pay-later options will be:

• Provided by licensed third-party lenders

• Subject to the lender’s terms, disclosures, conditions, and approval

Bead does not provide credit, underwriting, lending services, or consumer eligibility determinations.

Payment Availability and Settlement

Payment methods, features, settlement timing, and availability:

• Vary by merchant, integration, eligibility, and third-party provider

• May differ by use case (e.g., online vs. in-store)

Settlement timing is determined by third-party financial institutions and payment providers. Bead does not guarantee settlement timing.

Fees and Pricing

Fees and pricing:

• Vary by payment method, transaction type, volume, and integration model

• Are provided to merchants during onboarding through Bead or authorized partners

Bead does not guarantee lower fees compared to other payment methods or providers.

No Guarantees or Outcomes

Bead does not guarantee:

• Payment approval or transaction success

• Settlement timing

• Reduced fraud, disputes, or chargebacks

• Increased conversion, revenue, or customer engagement

Performance outcomes depend on many factors, including customer behavior, payment method selection, and third-party provider terms.

Availability, Illustrations, and Marketing References

References to payment methods, providers, features, logos, illustrations, or examples on Bead’s website are for informational purposes only and do not constitute a guarantee of availability or functionality.

Features and services may change over time and are subject to eligibility, integration, and third-party approval.

Geographic Availability

Bead’s services are currently available only to U.S.-based merchants and customers. Bead does not offer services outside of the United States at this time.

Prohibited Use

Bead’s services may not be used for prohibited or restricted activities, including certain business types, products, or jurisdictions, as determined by Bead and its partners.

Use of Bead’s services is subject to Bead’s applicable Terms of Service, policies, and compliance requirements.

Third-Party Trademarks

All third-party names, logos, and trademarks displayed on Bead’s website are the property of their respective owners. Use of third-party marks is for identification purposes only and does not imply endorsement or partnership.

Changes to Disclosures

These disclosures may be updated from time to time. Continued use of Bead’s website or services constitutes acceptance of the updated disclosures.

Contact

For questions regarding these disclosures, contact: [email protected]