Terms of Service

1. Eligibility and Account Registration

To register for and use PAYVORA's Services, you must:

• Be at least 18 years of age.
• Be a resident of Nigeria or an eligible jurisdiction where our Services are available.
• Possess a valid Bank Verification Number (BVN) issued by the Central Bank of Nigeria.
• Have the legal capacity to enter into a binding contract.
• Not be prohibited from using financial services under applicable law.

By registering, you represent and warrant that all information you provide is accurate, current, and complete. You agree to promptly update your information if it changes. PAYVORA reserves the right to decline registration or restrict access to anyone at its sole discretion.

2. Description of Services

PAYVORA provides the following financial technology services:

PAYVORA is a financial technology company, not a bank. Banking, card issuance, and regulated financial services are provided through our licensed banking and payment partners in accordance with CBN guidelines. The availability and features of these Services may change over time.

3. Account Security and Responsibilities

You are responsible for:

• Maintaining the confidentiality of your login credentials, transaction PIN, and two-factor authentication (2FA) codes.
• All activity that occurs under your account, whether authorized by you or not.
• Immediately notifying PAYVORA at security@payvora.org if you suspect unauthorized access, loss of your device, or a compromised PIN.
• Ensuring your device is protected with a screen lock, up-to-date operating system, and current security patches.

PAYVORA will never ask for your full password, PIN, or 2FA code via email, SMS, phone call, or any channel outside the official app. Any request for these credentials is fraudulent.

You may not create more than one account per person. Multiple accounts may be merged or terminated at PAYVORA's discretion.

4. KYC, AML, and Regulatory Compliance

PAYVORA operates under the regulatory oversight of the Central Bank of Nigeria (CBN) and complies with:

• CBN Know Your Customer (KYC) and customer due diligence requirements.
• The Money Laundering (Prevention and Prohibition) Act 2022.
• The Terrorism Prevention Act 2011 (as amended) — Anti-Terrorism Financing obligations.
• NFIU reporting requirements for suspicious transactions.

You agree to provide accurate KYC documents (including BVN, NIN, or government-issued ID) as required to upgrade your account tier or increase transaction limits. We may suspend or restrict your account pending completion of KYC verification. We may report suspicious activity to the appropriate Nigerian authorities without notifying you in advance, as required by law.

5. Virtual Cards

By using PAYVORA virtual cards, you acknowledge and agree that:

• Virtual cards are prepaid instruments funded exclusively from your PAYVORA Naira wallet at the prevailing USD/NGN exchange rate at the time of funding.
• Cards are subject to daily and monthly spending limits based on your KYC verification tier, as displayed in the app.
• PAYVORA is not liable for transactions declined by merchants due to merchant-side restrictions, insufficient card funds, or address verification failures.
• You may not use virtual cards for gambling, adult content, narcotics, firearms, or any activity prohibited by Nigerian law or the card network's acceptable use policy.
• Unused balances on terminated cards may be refunded to your wallet at PAYVORA's discretion, subject to CBN guidelines.

6. Gift Card Trading

When trading gift cards on PAYVORA, you represent and warrant that:

• You are the rightful owner of the gift cards you submit for trading.
• The cards were obtained through lawful means and are not stolen, fraudulent, or linked to any illegal activity.
• The card details (codes, PINs) are valid and have not been fully or partially redeemed prior to submission.

Exchange rates are set by PAYVORA at its sole discretion based on market conditions and are displayed in the app at the time of trade. Rates may change without notice. Once a gift card trade is submitted and verified, it is final and non-reversible. PAYVORA reserves the right to decline any gift card trade it deems fraudulent or in violation of this policy. Accounts found submitting stolen or fraudulent gift cards will be permanently suspended and reported to law enforcement.

7. Bill Payments and Airtime

Bill payments and airtime recharges are processed through our licensed payment infrastructure partners. You acknowledge that:

• You are responsible for ensuring the accuracy of the meter number, account number, phone number, or any other identifier entered for a payment.
• Once a payment is initiated and confirmed as successful, it cannot be reversed by PAYVORA. Errors in recipient details are the user's responsibility.
• Delivery of airtime, data, or utility credits is subject to the availability and systems of the respective utility provider or network operator. PAYVORA is not liable for delays caused by third-party systems.
• In the event of a confirmed transaction failure where funds were deducted, PAYVORA will initiate a reversal within 5 working days.

8. Fees and Pricing

PAYVORA's current fee schedule is available on our Pricing page. By using the Services, you agree to pay all applicable fees. Key terms:

• Bill payments, airtime recharges, and peer-to-peer Naira transfers are provided at zero service fee for Free-tier users.
• Virtual card creation and maintenance fees, if any, are displayed in the app before you confirm.
• Gift card exchange rates include PAYVORA's margin; no additional fee is charged.
• Currency conversion rates for USD card funding and USDT-to-NGN conversions are calculated at the time of each transaction and displayed for your confirmation.
• PAYVORA reserves the right to introduce or modify fees with at least 14 days' advance notice to registered users.

9. Prohibited Activities

You may not use the Services to:

• Engage in, facilitate, or conceal money laundering, terrorist financing, or other financial crimes.
• Process payments for illegal goods or services, including narcotics, firearms, or human trafficking.
• Submit stolen, fraudulent, or unauthorized payment instruments or gift cards.
• Circumvent transaction limits, KYC requirements, or security controls.
• Use automated scripts, bots, or scraping tools to access the Services without our prior written consent.
• Impersonate PAYVORA, our employees, or any other person or entity.
• Interfere with or attempt to disrupt the integrity, performance, or security of our systems.
• Use the Services in any manner that violates any applicable Nigerian or international law or regulation.

Violation of this section may result in immediate account suspension, permanent termination, forfeiture of wallet balances (subject to legal requirements), and referral to Nigerian law enforcement authorities.

10. Intellectual Property

All content, trademarks, logos, trade names, software, designs, and intellectual property associated with PAYVORA are owned by PAYVORA Technologies Ltd. or its licensors. Nothing in these Terms grants you any right to use the PAYVORA name, logo, or brand without our prior written consent.

You are granted a limited, non-exclusive, non-transferable, revocable licence to access and use the Services for your personal, non-commercial purposes, subject to these Terms. This licence does not include the right to sublicence, sell, resell, copy, modify, create derivative works from, or reverse engineer any part of the Services.

11. Disclaimers and Warranties

THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE"

To the maximum extent permitted by applicable law, PAYVORA expressly disclaims all warranties, whether express, implied, statutory, or otherwise, including implied warranties of merchantability, fitness for a particular purpose, and non-infringement. PAYVORA does not warrant that:

• The Services will be uninterrupted, error-free, or available at all times.
• Information provided through the Services is accurate, complete, or current.
• The Services will meet your specific requirements.
• Any defects or errors in the Services will be corrected.

Exchange rates, transaction outcomes, and third-party network availability are outside PAYVORA's direct control and are not guaranteed.

12. Limitation of Liability

To the maximum extent permitted by the laws of Nigeria, PAYVORA, its directors, officers, employees, agents, and partners shall not be liable for:

• Any indirect, incidental, special, consequential, or punitive damages.
• Loss of profits, data, business, goodwill, or revenue.
• Damages arising from unauthorized access to your account due to your failure to maintain credential security.
• Service interruptions caused by third-party networks, utility providers, or force majeure events.

In any event, PAYVORA's total aggregate liability to you for all claims arising out of or relating to these Terms or the Services shall not exceed the greater of (a) the total fees paid by you to PAYVORA in the twelve (12) months preceding the claim, or (b) ₦50,000.

13. Indemnification

You agree to defend, indemnify, and hold harmless PAYVORA Technologies Ltd. and its officers, directors, employees, contractors, and agents from and against any claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or relating to:

• Your breach of these Terms or any applicable law or regulation.
• Your use or misuse of the Services.
• Your submission of fraudulent, stolen, or inaccurate information.
• Your violation of any third party's rights, including intellectual property rights.

14. Termination and Suspension

By You: You may close your account at any time by contacting our support team at hello@payvora.org. Upon closure, all pending transactions will be processed, and remaining wallet balances will be disbursed to your verified Nigerian bank account within 10 working days, subject to AML compliance checks.

By PAYVORA: We may suspend, restrict, or permanently terminate your account without prior notice if we determine, in our sole discretion, that you have:

• Violated these Terms or any applicable law.
• Engaged in or are suspected of fraudulent or illegal activity.
• Provided false information during registration or KYC.
• Posed a risk to PAYVORA or other users.
• Failed to complete required KYC verification within a reasonable period.

Upon termination, your licence to use the Services immediately ceases. We will retain your data as required by law (see Privacy Policy Section 9).

15. Dispute Resolution and Arbitration

Please read this section carefully. It requires you to resolve most disputes through binding arbitration rather than in court, and waives your right to participate in class action litigation.

Informal Resolution: Before initiating any formal proceedings, you agree to contact PAYVORA at legal@payvora.org and attempt to resolve the dispute informally for a period of 30 days.

Binding Arbitration: If informal resolution fails, any dispute, claim, or controversy arising out of or relating to these Terms or the Services shall be resolved by binding arbitration conducted by a mutually agreed arbitrator in Lagos, Nigeria, under the Arbitration and Conciliation Act (Cap A18, Laws of the Federation of Nigeria 2004). The arbitration shall be conducted in the English language. The arbitrator's decision shall be final and binding and may be enforced in any court of competent jurisdiction.

Class Action Waiver: All proceedings shall be conducted on an individual basis. You waive any right to bring claims as a plaintiff or class member in any purported class or representative action.

Exceptions: Either party may seek emergency injunctive relief in a Nigerian court of competent jurisdiction to prevent irreparable harm pending the outcome of arbitration.

16. Governing Law

These Terms and any dispute arising out of or in connection with them shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without regard to its conflict of law provisions. Subject to Section 15 (Arbitration), you irrevocably submit to the exclusive jurisdiction of the courts of Lagos State, Nigeria, for any matter not subject to arbitration.

17. Changes to These Terms

PAYVORA may revise these Terms at any time. When we make material changes, we will notify registered users by email and through an in-app notice at least 14 days before the changes take effect. Your continued use of the Services after the effective date of any updated Terms constitutes your acceptance of those changes. The current version of these Terms is always available at www.payvora.org/terms.

If you do not agree to revised Terms, you must stop using the Services and close your account before the effective date.

18. Contact Us

If you have questions about these Terms, please contact our legal team: