Veriff

Payments & Invoicing

1. PAYMENT MODEL

Veriff Service Fees are based on the number of unique End User Sessions, meaning Veriff does not charge for resubmissions. The Customer will not be billed for subsequent verification Sessions in an End User Session if an End User receives a resubmission and has to try again. For clarity, if an End User abandons a Session and later creates a new Session, this will be counted as 2 separate Sessions.

By charging on an End User Session basis, we are taking ownership of subsequent Sessions, as we believe that we are able to provide a conclusive decision on the first attempt using our data capture and feedback process.

It's in both of our interests to perfect efficiency and End User experience, by working together to minimize resubmissions, rather than monetize at the expense of our partners.

2. INVOICING

Service Fee under the Order Form will be invoiced in equal amounts (except for annual and monthly in arrears Payment Schedules), based on the Payment Schedule indicated in the Order Form. For clarity, the invoiced amount assumes that the number of Initial Sessions used during the applicable Payment Schedule period will be used in equal amounts.

Notwithstanding the foregoing, in the event Customer uses more Initial Sessions in the applicable Payment Schedule period than Customer has been invoiced for, then Veriff will submit an additional invoice for such usage. This invoice will be sent at the end of the applicable month where Customer exceeded the number of invoiced Initial Sessions.

Once all Initial Sessions have been used and invoiced, then the Additional Session Fee will apply to all additional Sessions, and Veriff will invoice Customer monthly for such additional usage.

EXAMPLE OF BILLING SCHEDULE

Committed/Initial Sessions: 120,000

Billing Schedule: Quarterly

Start Date: April 1, 2023


Example of Expected Invoice Schedule

Example of an "Actual" Usage

Example of an "Actual" Invoice Schedule