Glossary of Terms

Definitions of Financial Benefits and Terms(for full details you should review the PayPal Partner Agreement)

Rate – means the Revenue Share applicable to partners on Referred Merchants' TPV – paid quarterly

Referred Merchant – means a merchant resident in mainland China that following the Effective Date (i) either (A) transacts with the Partner Button Source Code for the first time or (B) has transacted with the Partner Button Source Code historically and successfully transacts for the first time using PayPal Express Checkout or (C) has transacted with the Partner Button Source Code historically but not in the 12 months immediately preceding the Effective Date, and transacts using the Partner Button Source Code; and (ii) signs up, or has already signed up, for a PayPal Account; and (iii) has accepted PayPal's User Agreement and successfully completed PayPal's account registration process.

Effective Date – means the date that PayPal notifies a partner that he has been accepted into the PayPal Partner Program.

PayPal TPV (total payment volume) – means the net merchant sales calculated as the sum of payments with the Partner Button Source Code made to a merchant through PayPal's Express Checkout API, or Website Payments Standard HTTP form post that are paid to the merchant's PayPal account, minus any chargebacks, refunds, and reversals. PayPal TPV excludes any payments processed through the Direct Processing API, the Virtual Terminal interface, through PayPal Mobile services, or on or in connection with the eBay marketplace.

Partner Button Source Code or BN code – means the unique button source code provided by PayPal to its partners and added by its partners to the PayPal buttons used by merchants to offer the PayPal Services that are enabled through Partner Product, such button source code providing a means of identifying and tracking Referred Merchants' payments.

PayPal Services – means the online payment services provided by PayPal to its merchants, including Website Payments Standard, and Express Checkout services.

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