Agreement Overview
This Terms of Service Agreement ("Agreement") is entered into between Payyng ("Payyng," "we," "us," or "our") and you ("User," "Customer," or "you") regarding your use of Payyng's payment processing and financial services platform. By creating an account or using our services, you acknowledge that you have read, understood, and agree to be bound by these terms.
Service Description
Payment Processing
Payyng provides payment processing services enabling users to send, receive, and manage digital payments within Nigeria and internationally. Our services include peer-to-peer transfers, bill payments, airtime purchases, and merchant payment solutions.
Financial Services
We offer currency exchange, remittance services, virtual cards, and banking integrations. All services are provided subject to regulatory approval and compliance with applicable financial regulations.
Platform Access
Our services are accessible through mobile applications, web platforms, and API integrations. We reserve the right to modify, suspend, or discontinue any aspect of our services with appropriate notice.
Service Availability
While we strive for 99.9% uptime, services may be temporarily unavailable due to maintenance, technical issues, or circumstances beyond our control. We are not liable for losses resulting from service interruptions.
User Responsibilities
Account Security
Users must maintain the confidentiality of their login credentials, PINs, and other security information. You are responsible for all activities conducted through your account.
Accurate Information
All information provided during registration and use of our services must be accurate, complete, and current. Users must promptly update any changes to their personal or financial information.
Compliance with Laws
Users must comply with all applicable local and international laws when using our services. This includes anti-money laundering regulations, tax obligations, and foreign exchange controls.
Prohibited Activities
Users may not engage in fraudulent activities, money laundering, terrorist financing, or any illegal activities. Violation of these terms will result in immediate account suspension.
Fees and Charges
Transaction Fees
We charge fees for various services including domestic transfers (₦10-₦50), international remittances (1.5-3.5%), bill payments (₦5-₦25), and currency exchange (competitive rates with transparent spreads).
Fee Disclosure
All applicable fees are clearly displayed before transaction confirmation. We do not charge hidden fees. Monthly statements and transaction histories are available in your account dashboard.
Fee Changes
We reserve the right to modify our fee structure with 30 days' advance notice. Continued use of our services after fee changes constitutes acceptance of the new fee structure.
Refund Policy
Transaction fees are generally non-refundable except in cases of service errors or technical failures on our part. Refund requests must be submitted within 30 days of the transaction.
Liability and Disclaimers
Service Disclaimers
Our services are provided 'as is' without warranties of any kind. We do not guarantee uninterrupted service availability or error-free operation of our platform.
Limitation of Liability
Our liability is limited to the amount of the specific transaction in question, not to exceed ₦1,000,000 in aggregate. We are not liable for indirect, consequential, or punitive damages.
Third-Party Services
We integrate with third-party services including banks, payment processors, and verification providers. We are not responsible for the performance or reliability of these third-party services.
Force Majeure
We are not liable for delays or failures in performance resulting from circumstances beyond our reasonable control including natural disasters, government actions, or technical infrastructure failures.
Account Types & Limits
Basic Account
Daily limit: ₦50,000 daily
Requirements: Phone number verification
- Domestic transfers
- Bill payments
- Airtime purchase
Standard Account
Daily limit: ₦500,000 daily
Requirements: ID verification + Address proof
- All Basic features
- International transfers
- Virtual cards
Premium Account
Daily limit: ₦5,000,000 daily
Requirements: Enhanced verification + Income proof
- All Standard features
- Priority support
- Advanced analytics
Dispute Resolution
Internal Resolution
We encourage users to first contact our customer support team for dispute resolution. Most issues can be resolved within 48-72 hours through our internal processes.
- • Email: support@payyng.com
- • Phone: +234 (0) 700 PAYYNG
- • Live Chat: Available 24/7
External Arbitration
For disputes that cannot be resolved internally, parties agree to binding arbitration under Nigerian Arbitration and Conciliation Act.
- • Venue: Lagos, Nigeria
- • Language: English
- • Applicable Law: Nigerian Law
Account Termination
User-Initiated Termination
You may close your account at any time by contacting customer support. Account closure may take up to 30 days to process pending transactions and comply with regulatory requirements.
Company-Initiated Termination
We reserve the right to suspend or terminate accounts for violations of these terms, suspicious activities, regulatory compliance, or risk management purposes. We will provide notice when legally permissible.
Post-Termination
Upon termination, remaining account balances will be returned to you subject to applicable fees and regulatory requirements. We may retain certain information as required by law.
Questions About These Terms?
If you have any questions about these Terms & Conditions, please contact our legal team:
- Legal Department
- legal@payyng.com
- Customer Support
- support@payyng.com
- Phone Support
- +234 (0) 700 PAYYNG
- Response Time
- Within 48 hours