PALMPAY LIMITED, its parent, subsidiaries, successors, assignees and affiliates (“PalmPay,” “we,” “our,” or “us”) provide access to and use of palmpay.co, a website owned and operated by PalmPay, as well as any and all other websites, mobile optimised sites, mobile applications, subdomains owned, operated or controlled by PalmPay (the “Website” “PalmPay App”), together with the content, software, mobile services, financial products and functionality offered on or through the Website and the PalmPay App (collectively, the “Services”).
- CONSENTING TO THESE TERMS
- THE SERVICES WE PROVIDE
PalmPay is a mobile payments platform licensed by the Central Bank of Nigeria (“CBN”). Our Services include, without limitation, the capability to: sign up as a customer; credit a PalmPay account with cash through various channels; pay or transfer money to a third party; transfer funds to a bank account; transfer funds to a PalmPay Account; pay Merchants; receive money from a third party; withdraw cash at any of our Agent locations, PalmPay centres or Automated Teller Machine (“ATM”); request money from registered PalmPay users; perform and/or complete certain functions relating to PalmPay’s Services.
All descriptions of proposed products and Services are based on assumptions (which are subject to change) and you should not rely on the availability or functionality of products or Services until they are actually offered through the Website or the PalmPay App. We reserve the right in our sole discretion to determine how registration and other promotions will be awarded. This determination includes, without limitation, the scope, nature and timing of all such awards.
- THE CONDITIONS TO USE OUR SERVICES
In order to access and use our Services, you must:
- be at least 18 years of age to be able to access or use the Services or create a PalmPay Account (“User Account”, “Account” “Wallet”), as the Services are not intended for children under 18. The Services are not available to any User previously removed from the Services (or whose User Account have been terminated) by PalmPay. You represent and warrant that you possess the legal right and ability to enter into these Terms and to use the Services in accordance with these Terms;
- be registered with us on our App;
- provide all information requested by us, such as your name, gender, date of birth, email address, mobile device number, Bank Verification Number (“BVN”), online credentials for registering with PalmPay and such other information as we request from time to time (collectively, “User Information”);
By giving PalmPay your BVN, you authorize PalmPay to collect and save your data from the BVN database as part of our Know Your Customer (“KYC”) information to fulfil regulatory requirements. All KYC data collected will be treated as confidential. You also permit us to use your BVN to monitor, prevent and detect fraudulent activities and share the same with CBN authorised stakeholders, for the purpose of deterring financial fraud; and
- ensure that all User Information you provide to us from time to time is truthful, accurate, current and complete, and you agree not to misrepresent your identity or your User Information. You agree to promptly notify us of changes to your User information by updating your User account on the App. If we approve of your registration, you will be authorized to use the Services, subject to these Terms and provided that the Services will not be used for fraud.
- THE PROCEDURES INVOLVED IN USING THE SERVICES
- Adding Funding Sources to your Account
- You may access the available funds from other sources asides from your Account or Wallet, customers may link bank accounts and cards to their PalmPay Wallet or Account.
- Confirmation and authorization of your other funding sources by a one-time password, 3D Secure or other authorization methods, as applicable are required. Once authorized, you grant PalmPay and your bank the authority to debit any of your source(s) at your request or at any reoccurring schedule you have indicated. Your authorization is confirmed by your successful login to the PalmPay platform (with the use of your password or fingerprint scan).
- Upon set up and authentication of the funding sources added to your Account or Wallet, all payments processed from your Account or Wallet are deemed genuine and PalmPay shall not be held liable for any form of fraud, oversight or compromise.
- You will be responsible for any charges or penalties from third parties or your bank that occurs as a result of any transactions carried out on your Account or Wallet.
- Do note that some transactions may carry a fee. Our PalmPay fee schedules are available on our website, through communication with our Customer Services and will be displayed on the app before any transaction is confirmed. The fee schedule provides details on the fee amounts, and the method and source of payment for such fees. We reserve the sole discretion to revise the fee schedule from time to time.
- You will be responsible for managing your funding sources, in terms of additions, removals and updates e.g. expired debit cards.
- You may access the available funds in your Account or Wallet at any time using any of the channels you choose, including your mobile. Whilst we make every reasonable attempt to provide the services as described in our marketing and educational materials, we offer the services “as is” and without any warranties. Transactions include but are not limited to the following: funds transfer, cash-in, cash-out, airtime purchase, bills payment and merchant payments.
- All payments will be processed in Nigerian local currency i.e. Naira and Kobo.
- Each transaction will be identified by a unique Transaction ID, which is used to track and identify all transactions carried out on the PalmPay network. Your Transaction ID is important for a variety of uses, including settlement of any issues arising from transactions carried out on your account.
- PalmPay will send you a receipt of all transactions effected from your PalmPay Account or performed as an Agent; this message may be sent via smartphone notification, SMS, email, or another available channel.
- Your Account or Wallet will be credited with any deposit made into it, and the funds will be available for your use once the transaction has been approved.
- The table below outlines the customer classification PalmPay adopts along KYC levels and the applicable transaction limits. You may not withdraw, transfer or make any payments that in aggregate exceed any of the per transaction or daily limits defined for your category. Should you attempt to exceed any applicable limits, your transactions will be declined.
|Customer Level||Verification Requirements||Daily limits||Account Balance Limit|
|Level I||Phone Number and Full Name||₦50,000||₦300,000|
|Level II||Phone Number, Full Name, Full Address and Copy of Verifiable ID Card & BVN||₦200,000||₦500,000|
|Level III||Same as for Level II, plus additional KYC as would be required when opening a bank account||₦5,000,000||Unlimited|
- PalmPay may, acting reasonably and in accordance with regulations set by the Central Bank of Nigeria, vary the limits at any time and any variation will be notified to customers through our website. You must upgrade your account when in order to process transactions are the higher tier limits.
- For the avoidance of doubt, please note that some transaction limits may be further reduced from the approved CBN limits as part of our risk control process (for instance, when we have reservations about transactions carried out on your Account).
- You undertake throughout the duration of your use of PalmPay to comply with anti-fraud and money laundering regulations applicable in Nigeria. In particular, you undertake to respond diligently to any request from PalmPay or a regulatory or judicial authority regarding any anti-fraud and money laundering activity on your Account.
- Any breach or suspected breach of the anti-fraud and money laundering regulations by you constitutes a serious breach of these Term and Conditions and we reserve the right to immediately suspend or close your Account.
- The proceeds from suspected fraudulent or money laundering transactions shall be kept by PalmPay Limited pending an internal decision or a judicial or administrative decision.
- THE PALMPAY LOYALTY PROGRAMME
- PalmPoints (“PalmPoints”, “Points”) is a loyalty programme which allows PalmPay customers to receive Points when their transactions qualify for such Points or by completing certain activities within the PalmPay App, as advised by PalmPay from time to time.
- PalmPoints will be credited to the customer’s PalmPoints account immediately or soon after the qualifying activity / transaction has been completed. The amount of Points awarded may change and will vary depending on the transaction completed; the amount spent; and when the transaction occurred.
- PalmPoints may be redeemed against specific transactions as defined by PalmPay. These transactions may include PalmPay referrals, airtime top-up and bill payment.
- Customers can earn a maximum of 10,000 PalmPoints per day. If you earn over this amount and your behaviour is legitimate, we may contact you to upgrade your account.
- PalmPay is entitled to remove PalmPoints at any time if transactions are reversed or cancelled.
- PalmPay is entitled to remove PalmPoints from a customer’s account if they detect or suspect fraudulent behaviour. This shall include transactions which go above and beyond what could objectively be considered consumer behaviour or personal use.
- PalmPay may set a limit on the number of times PalmPoints may be awarded for a promotional item from time to time.
- The PalmPoints rules will be communicated via our website.
- PalmPoints awarded at the time of the transaction or PalmPoints already issued may be removed or cancelled if PalmPay determines that the Points were collected in breach of these terms and conditions or were awarded in error. For the avoidance of doubt, any advice or actions of our staff that is contrary to these terms and conditions will not have the effect of changing these terms and conditions.
- PalmPoints have no value until converted into transaction discounts at the point of redemption. The current conversion value of Points is one Point equal to one Naira. This conversion rate may change in the future.
- PalmPay is under no obligation to award PalmPoints for any reason outside of qualifying transactions.
- INSURANCE OF DEPOSITED FUNDS
Unless otherwise stated, all funds in your PalmPay Account shall be insured up to the maximum coverage level for depositors in line with the Nigerian Deposit Insurance Act. This protection is provided by the Nigerian Deposit Insurance Corporation Act.
- RULES THAT APPLY TO MERCHANT TRANSACTIONS AND THIRD PARTY WEBSITES
- When making a payment to any person or entity in exchange for goods or services on PalmPay (“Merchant”), you will be required to confirm the transaction. At this time, you may also be requested to enter your Password or PIN depending on the channel. By entering your Password or PIN to confirm the transaction you agree and confirm that you have authorised the transaction. You cannot directly reverse or cancel any payment once it has been approved by you.
- When making a payment on a Merchant website using PalmPay, you will be required to log into your PalmPay account, before payment can be made, in which case clause 4.2 will still be applicable.
- As we are unable to reverse or charge-back any payments made, should you have a dispute with any Merchant, you should resolve such disputes with the Merchant directly.
- Disputes between you and a Merchant will not affect our right to recover payments from you.
- You acknowledge that your dealings with a Merchant is solely at your own risk and you agree that PalmPay shall not be responsible for any loss or damage of any sort relating to your dealings with a Merchant. All rules, policies (including privacy policies) and operating procedures of a Merchant will apply to you while on the Merchant’s site.
- Clause 7.5. also applies to the websites of third parties, advertisers, special offers or other events or activities that are not owned, controlled or operated by us, links to which may be found on our Services.
- HOW WE TREAT YOUR PERSONAL INFORMATION?
- THE SECURITY MEASURES WE PUT IN PLACE FOR YOUR PALMPAY ACCOUNT
- When signing up for a PalmPay Account, you will be prompted to create a unique username (you mobile number); Personal Identity Number (PIN); and may be prompted to create a password or TouchID for applicable channels; you will also be asked to provide answers to one or more security questions of your choosing and may be asked to select a security image. You are responsible for the safekeeping and proper use of this security data.
- You are responsible for protecting your password, PIN and security In view of this, you are responsible for all transactions that occur on your Account as well as applicable channels and you undertake to indemnify us against any claims made in respect of transactions made on your Account. For fingerprint access, you are responsible for ensuring that the fingerprints stored on your smartphone are yours alone and indemnify us against any claims made in respect of transactions made on your Account using fingerprint access.
- If at any time you believe or discover that your password or PIN has been stolen or compromised, we advise that you immediately login to your Account and change the password or PIN. In the event that you are unable to change your security details we advise you to contact our Customer Services immediately. We will temporarily suspend your Account to prevent any transactions from being carried out within a reasonable timeframe. You will remain responsible for all transactions that occur until your Account is put in suspense.
- Should you dispute any purchase or withdrawal debited to your Account, you will be required to prove that it lacked your authorization. Such transactions will be investigated once we receive an affidavit clearly stating that you had not authorised the transaction, supported by proof of this.
- We reserve the right to immediately suspend or withdraw a User Account or Wallet if we have reasonable grounds to believe that there may be a breach of security of that User Account or Wallet, we suspect unauthorised or fraudulent use of that Account or we are required by law to do so.
- We may ask certain questions to confirm your identity when you call our customer service. Once your identity has been confirmed, we will execute your instructions. However, please note that we will never ask for your Password or PIN. We advise that you do not disclose your Password or PIN to anyone under any circumstances.
- We care about the integrity and security of your User Information. We have implemented commercially reasonable technical and organizational measures designed to secure your User Information from accidental loss and from unauthorized access, use, alteration or disclosure. However, you acknowledge and agree that despite our reasonable security measures, we cannot guarantee that electronic communications over the Internet will be 100% secure and that unauthorized third parties will never be able to defeat those measures or use your User Information for improper purposes. You acknowledge that you are under no obligation to use the Services, and that you provide any personal or sensitive information in order to use the Services at your own risk.
- OWNERSHIP OF INTELLECTUAL PROPERTY RIGHTS TO THE CONTENT ON ALL PALMPAY PLATFORMS
You acknowledge and agree that content, including, without limitation, text, software, music, sound, photographs, video, graphics, images, logos, button icons, editorial content, notices, design, compilation, magnetic translation, digital conversion, software (including, without limitation, HTML-based computer programs), other materials and other information presented to you through the Services or other matters related to the Services (collectively “Content”), are protected under applicable copyrights, trademarks and other proprietary (including but not limited to intellectual property) rights. You are only permitted to use this Content as expressly authorized by PalmPay or the Services. You do not acquire ownership rights to any Content viewed through the Website or any express or implied licence to our intellectual property or the intellectual property of our licensors. Use of the Content other than as expressly permitted by these Terms are strictly prohibited. The posting of information or materials on the Website or App does not constitute a waiver of any right in such information and materials.
- MANAGING USER CONTENT
The Services may permit you to submit content, send emails and other communications, and provide other information for publication or distribution to third parties (collectively, “User Content”). Any User Content must not be illegal, threatening, obscene, racist, defamatory, libellous, pornographic, infringing of intellectual property rights, promoting of illegal activity or harm to groups and/or individuals, invasive of privacy, purposely false or otherwise injurious to third parties, or objectionable and must not consist of or contain software, computer viruses, commercial solicitation, political campaigning, chain letters, mass mailings, or any form of “spam.” If you submit User Content, and unless we indicate otherwise, you grant us a nonexclusive, perpetual, royalty-free, irrevocable, and fully sublicensable (through multiple tiers) right to use, modify, reproduce, adapt, translate, publish, create derivative works from, distribute, display, and otherwise exploit such User Content throughout the world in any media. We take no responsibility and assume no liability for any User Content submitted by you or any other user or third party. You acknowledge that your disclosure is gratuitous, unsolicited and without restriction; and will not place PalmPay under any fiduciary or other obligation. You further acknowledge that, by acceptance of your submission, PalmPay does not waive any rights to use similar or related ideas previously known to PalmPay, or developed by its officers, employees, agents or contractors, or obtained from sources other than you.
You give explicit consent that PalmPay may use your personal data for its marketing purposes, and that you may be contacted by PalmPay for these purposes by email. PalmPay will in this context not provide any personal data to third parties.
You acknowledge that the above described consent can be withdrawn any time (without giving reason) by sending an email to firstname.lastname@example.org.
- RESTRICTIONS TO THE USE OF THE SERVICES
The viewing, printing or downloading of any content, graphic, form or document from the Website or App grants you only a limited, nonexclusive right to use, solely by you for your own personal use and not for republication, distribution, assignment, sublicense, sale, preparation of derivative works, benefit of any third party or other use. No part of any content, form or document may be reproduced in any form or incorporated into any information retrieval system, electronic or mechanical, other than for your personal use (but not for resale or redistribution). You hereby agree not to engage in: (a) copying, modifying, distributing, or disclosing any part of the Services in any medium, including, without limitation, by any automated or non-automated “scraping” or creating any derivative product; (b) collecting or harvesting any User Information, including, without limitation, account names from the Services; (c) impersonating another person or entity or otherwise falsely stating or misrepresenting your identity or affiliation with a person or entity, conducting fraud, hiding or attempting to hide your identity; (d) interfering with the proper working of the Services; (e) accessing any content on the Services through any technology or means other than those provided or authorized by the Services; (f) disassembling, decompiling or reverse engineering the Services or any part of the Services or otherwise seeking to obtain the source code of the Services, except to the extent that such restriction is expressly prohibited by Law; (g) using the Services in any way that are illegal, harmful, fraudulent, deceptive, threatening, harassing, defamatory, obscene or otherwise objectionable as we may determine in our sole discretion; or (h) jeopardizing the security of your User Account or any other users’ Accounts.
- INDEMNITIES THAT APPLY
In addition to any other indemnity clause provided in these Terms, you agree to indemnify, hold harmless and reimburse PalmPay, its affiliates, its agents, licensors, suppliers, contractors and third-party service providers, and their respective employees, members, officers and directors, (Collectively “Indemnified Parties”) from and against any and all claims, losses, suits, damages (actual and consequential), obligations, penalties, any losses arising out of the loss or theft of your User Information or your mobile device or from unauthorized or fraudulent transactions associated with your User Account, fines, liabilities, settlements, costs or debt, and expenses (including, without limitation, court costs and reasonable attorneys’ fees) (“Losses”) arising from or in any way connected to any third-party claims relating to your use of the Services, violation of these Terms, applicable law or any third-party rights, or your fraud or wilful misconduct. This defence and indemnification obligation will survive any termination of these Terms and your use of the Services.
- PROCEDURES FOR THE SUSPENSION/CLOSURE OF ACCOUNTS
- You agree that to the extent permitted by applicable law, we may, in our sole discretion and without liability to you, terminate (or suspend access to) your use of the Services, Content, or your Account for any reason, including, but not limited to, your breach of these Terms.
- We will not be responsible to you for any direct, indirect, consequential or special damages arising from any act or omission by us or any third party for whom we are responsible; whether arising in contract or statute; or if we close or suspend your Account in accordance with these Terms.
- In any case where your PalmPay Account is closed for any reason and has a balance of funds, you may make a request to our customer service for your balance, and this will be made available to you for withdrawal barring any legal or regulatory provisions preventing such a withdrawal.
- TERMINATE YOUR USE OF OUR SERVICE
You may terminate your use of our Services at any time upon notice to PalmPay and in accordance with directives provided by PalmPay.
Please contact PalmPay for the applicable notice period and requirements.
- HOW TO CONTACT PALMPAY
All notices to PalmPay or you as the case may be, shall be in writing and shall be made via email (Support@palmpay.co) using your email and address provided by you. Customer care is available on 07007256729.
- CHANGING THESE TERMS
PalmPay may post notices or links to notices through its Services to inform you of changes to the Terms, the Services, or other matters of importance.
- OTHER CONSIDERATIONS
- Governing Law. These Terms are made under and will be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without giving effect to any principles that provide for the application of the law of another jurisdiction.
- No Waiver. The failure of PalmPay to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.
- Severability. If any provisions of the Terms are found by a court of competent jurisdiction to be invalid, the invalidity of such provision shall not affect the legality, enforceability or validity of the remaining provisions which shall remain in full force and effect.
- Assignment. PalmPay expressly reserves the right to assign, delegate and transfer these Terms and its rights and obligations under these Terms in part or as a whole and including without limitation, to a subsidiary, affiliate, successor or any third-party whatsoever without your consent. You shall not transfer, assign or delegate these Terms, or your rights, obligations and User Account in any manner whatsoever under these Terms, to any person or entity without our prior written approval.
- Additional Terms. In conjunction with your access or use of the Services, you may be subject to additional terms, rules, policies, and conditions that are posted on the Website, including, but not limited to, terms and conditions for our referral or rewards programs (the “Additional Terms”), which are hereby incorporated by reference into these Terms. In the event of a conflict between any Additional Terms and these Terms, these Terms shall prevail.