Terms of Service

1. Definitions

In these Terms, the following terms shall have the meanings ascribed to them below:

• "Service" refers to the suite of application programming interfaces (APIs), software, and other services provided by Paytins.
• "Merchant" or "you" refers to the entity or individual registering to use the Service.
• "End-User" refers to the customers of the Merchant who interact with or benefit from the integrated Paytins Service.
• "API Keys" refers to the confidential security credentials provided by Paytins for accessing the Service.
• "Digital Assets" refers to cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and others supported by the Service.
• "Fiat Currency" refers to government-issued currency, such as the Nigerian Naira (NGN) or United States Dollar (USD).

2. Agreement to Terms

These Terms of Service constitute a legally binding agreement between you and Paytins Nigeria Ltd. ("Paytins", "we", "us"). By creating an account or using any part of the Service, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree, you must not use the Service.

3. Description of Services

Paytins provides a technology platform enabling Merchants to integrate various financial services. These include:

• Bill Payment Services: Facilitating payments from your End-Users to third-party billers. We act as an intermediary processor.
• Virtual Card Services: Programmatic issuance and management of virtual cards, subject to the rules of our issuing bank partners and card networks.
• Cryptocurrency Services: Including API access for trading Digital Assets and our Crypto Checkout service, which allows your End-Users to pay in Digital Assets while you receive settlement in Fiat Currency.
• Escrow Payment Services: A service to hold funds from a buyer in a secure account, to be released to a seller upon fulfillment of predefined conditions.

4. Merchant Onboarding and Compliance

To use the Service, you must register for a Merchant account. You agree to provide accurate business information, including but not limited to, CAC registration documents. We will conduct due diligence (Know Your Customer/Know Your Business) as required by Nigerian law. You authorize us to make inquiries, directly or through third parties, to validate your identity and business legitimacy.

5. Prohibited Activities

You may not use the Service for any illegal, fraudulent, or unauthorized purpose. This includes, but is not limited to, transactions involving narcotics, illegal gambling, fraudulent schemes, or any activity that violates the laws of the Federal Republic of Nigeria. You agree to comply with all applicable regulations, including those from the Central Bank of Nigeria (CBN) and the Nigerian Data Protection Regulation (NDPR).

6. Fees, Payments, and Payouts

You agree to pay the fees for the Services as displayed on our Pricing page or as otherwise agreed in writing. Fees are non-refundable. We reserve the right to deduct fees from transaction amounts or your settlement balance. Payouts to your designated bank account will be made according to the schedule outlined in your dashboard. We may place a temporary hold or reserve on funds based on perceived risk.

7. Data and Intellectual Property

You own all data you provide to us. You grant us a worldwide, royalty-free license to use, reproduce, and display this data as necessary to provide the Service. We own all rights, title, and interest in and to the Service itself, including all software, branding, and API documentation.

8. Termination

We may terminate or suspend your account immediately, without prior notice, for a breach of these Terms or a directive from a regulatory authority. You may terminate your account by providing 30 days' written notice to us.

9. Disclaimers and Limitation of Liability

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND. IN NO EVENT SHALL PAYTINS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF PROFITS OR DATA. OUR TOTAL AGGREGATE LIABILITY FOR ANY AND ALL CLAIMS ARISING OUT OF THESE TERMS SHALL NOT EXCEED THE TOTAL FEES PAID BY YOU TO US IN THE THREE (3) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM.

10. Indemnification

You agree to defend, indemnify, and hold harmless Paytins, its directors, and employees from any claims, damages, losses, and expenses (including legal fees) arising from your use of the Service, your breach of these Terms, or your violation of any law or the rights of a third party.

11. Governing Law & Dispute Resolution

These Terms shall be governed by the laws of the Federal Republic of Nigeria. Any dispute arising from these Terms that cannot be amicably resolved shall be settled by binding arbitration in Lagos, Nigeria, in accordance with the Arbitration and Conciliation Act, Cap A18, LFN 2004.