Terms of Service

1. Acceptance of Terms

By downloading, installing or using the FlashPay app or website, you confirm that you have read, understood and agreed to be bound by these Terms of Service. These terms form a legal agreement between you and ESSENCE BUSINESS PLATFORM LIMITED, the company that operates FlashPay.

If you do not agree to these terms, please do not use FlashPay. We may update these terms from time to time and will notify you of significant changes through the app.

2. Eligibility

To use FlashPay, you must meet the following requirements:

• You must be at least 18 years of age
• You must be a resident of Nigeria or a Nigerian citizen
• You must have a valid Nigerian phone number
• You must provide accurate and truthful registration information
• You must not have been previously suspended or banned from FlashPay

By creating an account, you confirm that you meet all eligibility requirements. If we discover that any of this information is false, we reserve the right to suspend or terminate your account immediately.

3. Your FlashPay Account

When you create a FlashPay account, you are responsible for:

• Keeping your PIN and login credentials confidential at all times
• All activities that occur on your account
• Notifying us immediately if you suspect unauthorized access to your account
• Ensuring your contact information remains accurate and up to date
• Completing KYC verification to unlock full account features

You may only hold one personal FlashPay account. Creating multiple accounts is a violation of these terms and may result in all your accounts being suspended.

4. Permitted Use

You may use FlashPay for the following lawful purposes:

• Sending and receiving money to and from other FlashPay users
• Transferring funds to Nigerian bank accounts
• Purchasing airtime and data for yourself or others
• Paying electricity bills, TV subscriptions and other utility bills
• Saving money through our FlashSave savings products
• Earning and redeeming FlashPoints rewards
• Any other lawful financial transaction supported by the app

5. Prohibited Activities

You must not use FlashPay for any of the following:

• Money laundering, fraud or any illegal financial activity
• Funding terrorism or any activities that violate Nigerian law
• Sending money obtained through fraudulent means
• Using someone else's account without their permission
• Attempting to hack, bypass or exploit any FlashPay security system
• Using automated bots or scripts to access FlashPay
• Providing false information during registration or KYC verification
• Engaging in any activity that could harm other FlashPay users

Violation of any of these prohibitions may result in immediate account suspension, reporting to law enforcement authorities, and legal action where appropriate.

6. Transactions and Fees

Transaction processing:

All transactions are processed in Nigerian Naira (NGN). Transactions are generally processed instantly but may be delayed due to network issues, bank processing times or system maintenance.

Finality of transactions:

Once you confirm a transaction with your PIN or biometric, it is final and cannot be reversed by you. FlashPay may be able to assist with reversals in specific circumstances such as technical errors, but we cannot guarantee recovery of funds sent to wrong recipients.

Fees:

• FlashPay to FlashPay transfers are free of charge
• Bank transfers may attract a fee based on the transaction amount
• All fees are displayed clearly before you confirm any transaction
• Fees are subject to change with prior notice to users

Failed transactions:

If a transaction fails after funds are deducted, the funds will be reversed to your wallet within 24 hours. If reversal does not occur within 24 hours, contact our support team immediately.

7. FlashPoints Rewards

FlashPoints are earned on eligible transactions and can be redeemed for rewards within the FlashPay app. The following terms apply to FlashPoints:

• FlashPoints have no cash value and cannot be transferred to another account
• FlashPoints expire after 12 months of account inactivity
• FlashPay reserves the right to modify the FlashPoints program with notice
• FlashPoints earned through fraudulent transactions will be forfeited
• Redeeming FlashPoints for rewards is subject to availability

8. Savings Products

FlashSave savings products are subject to the following terms:

• Interest rates are variable and may change with prior notice
• Lock Savings funds cannot be withdrawn before the lock period ends
• Early withdrawal from locked savings may result in loss of interest earned
• FlashPay savings are not covered by NDIC deposit insurance at this time
• Group savings are managed by agreement between group members

9. Limitation of Liability

FlashPay and ESSENCE BUSINESS PLATFORM LIMITED shall not be liable for:

• Losses caused by you sharing your PIN or login credentials with others
• Losses resulting from unauthorized access caused by your negligence
• Transaction delays caused by third party banks or payment processors
• Service interruptions due to maintenance, network issues or circumstances beyond our control
• Losses resulting from transactions you authorized, even if sent to the wrong recipient

Our total liability to you for any claim shall not exceed the value of the disputed transaction. We are not liable for any indirect, incidental or consequential damages.

10. Account Suspension and Termination

FlashPay reserves the right to suspend or terminate your account if:

• You violate any of these Terms of Service
• We detect suspicious or fraudulent activity on your account
• You provide false information during registration or KYC
• We are required to do so by law or regulatory authorities
• Your account has been inactive for more than 24 months

You may close your account at any time by contacting our support team. Upon closure, your remaining wallet balance will be transferred to a bank account you provide within 7 business days.

11. Intellectual Property

All content, features, branding and technology within the FlashPay app and website are the property of ESSENCE BUSINESS PLATFORM LIMITED and are protected by Nigerian and international intellectual property laws.

• The FlashPay name, logo and tagline are registered trademarks
• You may not copy, modify or distribute any FlashPay content without written permission
• You may not reverse engineer or attempt to extract source code from the FlashPay app

12. Governing Law

These Terms of Service are governed by and interpreted in accordance with the laws of the Federal Republic of Nigeria. Any disputes arising from the use of FlashPay shall be subject to the jurisdiction of Nigerian courts.

We encourage users to first contact our support team to resolve any disputes before pursuing legal action. Most issues can be resolved quickly through our support channels.

13. Contact Us

If you have any questions about these Terms of Service, please contact us:

• Email: legal@flashpay.ng
• Support: support@flashpay.ng
• Company: ESSENCE BUSINESS PLATFORM LIMITED
• Address: Ibafo, Ogun State, Nigeria