11 Nov 2021

PLEASE CAREFULLY READ THIS AGREEMENT!

By Accessing This App(africash) or Using Any of Our Services, You Agree to Be Bound By:

  • THE TERMS OF THIS AGREEMENT,
  • THE PRIVACY POLICY OF AFRICASH.

IF YOU DO NOT AGREE WITH THESE TERMS, PLEASE DO NOT ACCESS THE APP OR USE ANY OF THE SERVICES OFFERED.

Note: Africash is a peer to peer mobile payment application that enables users to send or receive money, contribute money for important causes, split bills among friends, and also shop in a regulated marketplace via an electronic wallet.

1 Definition of Terms

This document describes how you should use our Service and the conditions to which you are subject to when you use it.

1.1 Coverage of terms:This document covers all the terms and conditions on which we supply the Services (defined below) to you. When you use the App (Africash), you accept and agree to abide to the conditions of these terms.

1.2 Need to read Terms: Carefully go through these terms of Service. These terms tell you who we are, what we stand for, how we provide the Service, and why we may make changes to these terms or any other important information.

2 Definitions and Interpretation

2.1 The following are definitions that apply to the terms used in this document:

Africash:Means African Cash an App which is owned by Brighly Software (Nigeria) Limited, incorporated and registered in Nigeria with company number RC1829458, trading as “Africash”. The terms “Africash”, "we", "us", and "our" refer to Africash company doing business as “Mobile AppTransactions” together with its employees, consultants, directors, successors, subsidiaries, affiliates, and assignees.

App:refers to the electronic mobile software application called “Africash” developed by us and through which we provide Services to our clients.

Business Day:refers to a day other than a Saturday, Sunday or public holiday in Nigeria.

Contract:This is strictly between you and us, and it applies immediately after you accept the terms and conditions in this document.

Exchange Rate:For now all transactions on the app will be conducted in Nigerian Naira (N), in future, an exchange rate as determined by us will be applied once we expand our services to other African countries.

Fee:refers to the fees payable by you to us for the Service we offer.

Natural Disaster Event:refers to any act of God, such as; Earthquakes, Flood, Disease epidemic or pandemic; terrorist attack, fire, shutdown of internet, riots, civil war, imposition of sanctions/embargo, or breaking off of diplomatic relations; nuclear, chemical or biological contamination, any sanctions taken by a government or public authority, which may include imposing an export or import restriction, quota or prohibition, or failure to grant or renew a required license, building collapse, non-performance by suppliers, subcontractors or other third parties.

Prohibited Use:means any unlawful usage, including the transfer or receipt of payment for illegal activities, the transfer of funds which constitute proceeds of crime or money laundering under the CYBERCRIMES (PROHIBITION, PREVENTION, ETC) ACT, 2015 or any transaction under any CBN Regulatory Framework For Mobile Money Services in Nigeria or money which are obtained by illegal activity, the transfer of funds for the purpose of funding illegal or terrorist activity, the transfer of funds for the purpose of avoiding the seizure by law enforcement authorities or under orders of any court of law and any transfer of funds without the permission of their owner. Recipient: means the person who is the intended recipient of funds under a Transfer.

Service:refers to the services (Peer to Peer, Market Place, Funds Transfer, Split Payment, Social Network) provided by Africash through the App in accordance with these terms and conditions.

Transfer:refers to an instruction to use your account given to us to provide service on the App.

You and your:The terms "you," "your," and “Customer” refer to users of the Service, this means a person who has opened an account with Africash that allows them to access and use the Service. whether in their capacity as senders, recipients, beneficiaries, or visitors to our App.

2.2 Status of Transfer This makes reference to the “Status of Transfer” shown on the screen in the App. Accordingly, any reference to the “Status of Transfer” shown on the screen shall include any change of name we may make to it from time to time.

2.3 Payment These terms make reference to the “Pay” button in the App. Which will lead to a payment gateway, which enables the payment process to be completed. Any future changes applicable will be conveyed to all users of the system.

2.4 Guideline Any words used but not otherwise defined in these terms shall be interpreted in accordance with the definitions given in the CYBERCRIMES (PROHIBITION, PREVENTION, ETC) ACT, 2015 or under any CBN Regulatory Framework For Mobile Money Services in Nigeria.

3 How to get our Contact Information

3.1 Who we are: We are Africash owned by Brighly Software (Nigeria) Limited, a company registered in Nigeria trading as “Africash” with company number is RC1829458. Our head office is at 5 Stratford Street, Nigeria, and our registered office is at no.1 Herbert Macauley Street, Tinubu Square, Lagos, Nigeria. We are a third party service provider, offering online banking services via electronic wallet to customers with Nigerian bank accounts irrespective of their location.

3.2 How to contact us: You can contact our customer support team at +234 (0)803 000 0000 (between 9 am to 5 pm, Monday to Friday excluding public holidays in Nigeria) or by email on support@Africash.com.

3.3 How we may contact you: When we need to contact you, it will be done via the App or to your email address or phone number given to us.

3.4 Language: All communications will be in English, most especially all legal information and notices.

3.5 Copy of these terms: All information that we provide to you is backed up law in relation to the services contained in these terms. A copy can always be obtained on the app.

4 How the Services will be provided

4.1 Peer to Peer Transactions: Once you are a verified user of the Africash app, Africash will create a digital wallet for you. The purpose of this wallet is to enable easy online transactions & cashless digital economy. The wallet will be credited from your personal bank accounts. You may only carry out transactions with other verified users on the platform of Africash app via wallet to wallet transactions. This aid the system keeps track of transaction history, records, Invoice/receipts for accountability purposes, & all these should be retrievable or made available upon request. You may only use Africash to send money transfers to linked & verified bank accounts (Personal, family and friends) from your Africash wallet. Using Africash for Fraudulent purposes is prohibited.

4.2 Market Place: Users of the Africash app will be able to buy & sell commodities on the market platform. The digital wallet will make this trade easier and allows a user to credit wallet of other users, create special page for business, create a wallet for a particular purpose/transaction or separate business and personal wallet. In addition, the local quality standards of each country/region trade is being conducted from must be adhered to. Africash provides a return policy on unsuitable goods. Complaints and processes of return of goods must be filed within a seven (7) day period.

4.3 Split Payment: Africash app offers split payment services where two (2) verified users of the system known as parties can split bills. Users can come together, combine funds to settle bills. A split payment request is made to the wallet(s) of the other party or parties, based on an agreed sharing formula. In the case where one (1) party violates the terms of agreement and it is proven, the Africash system reserves the right to apply the appropriate measures/sanctions.

4.4 Social Network: Africash will provide a comment function, where users of the system can view or make comments on payments. Users have the option of assigning a public or hidden status to payment. When a user’s status is “public” it means other users can view & make comments on his/her transactions. If status is hidden, no one can view or make comment on your payments. The App allows you to add friends, everybody on your contact list automatically becomes your friend once registered on the app. Note; you can’t request money from people not your friends on the app. An end to end encryption will be incorporated into the Africash app system for maximum security of user information. Password hashing would also be used to enhance user privacy.

4.5 Funds Transfer: Username and phone number is required to transfer funds from wallet to wallet or wallet to account on the Africash app.

4.5.1 Making a Transfer: Guidance will be provided on the App showing all the steps and information needed to make a transfer and fees will have been specified at standard rates for each particular Transfer.

4.5.2 Status of Transfers: Every Transfer is a request offer by you to use our services subject to these terms and your acceptance in accordance with these terms.

4.5.3 Authorisation of Transfers: Your consent to the execution of each Transfer is given immediately after the “Pay” button is pressed in the App in relation to that Transfer.

4.5.4 Orders cannot be changed: All details must be critically checked and seen to be correct before pressing the “Pay” button in the App.

4.5.5 Receipt of your Transfers: Once you press the “Pay” button, the ‘status of transfer’ should show completed on the screen, it is then assumed that the transaction has been approved by us.

4.5.6 Acceptance of your Transfers: When confirmation is given in the App that your transaction is being processed it signifies our acceptance of the Transfer. Except where clause 4.5.7 or clause 8.7 applies, all Transfers, will be processed within 24 hours following receipt.

4.5.7 Declined Transfers:There are exceptions where a transfer is not accepted and services will be refused in any the following circumstances:

  • If we have any doubts about the accuracy of the details stated in the Transfer.
  • There are insufficient funds in your payment card to satisfy the Transfer and our Fee.
  • If we are requested to do so by any regulatory body or bank.
  • If our security validation, verification and anti-money laundering procedures have not been completed to our satisfaction.
  • If you are in breach of any of these terms or any representation, warranty or statement provided by you is untrue, inaccurate or misleading
  • If we believe that the performance of the Transfer might cause us or you to breach any applicable law, regulation, authorisation or permission
  • If you or the Recipient has exceeded the maximum number or value of Transfers permitted by us
  • If your Transfer amount is below our minimum threshold or Otherwise in our absolute discretion.

Except where notification would be unlawful, if we do not accept a Transfer, we will notify you in the App and by email. You can contact our customer support team who can, where possible, provide you with the reasons for the refusal and the procedure you need to follow for rectifying any errors that led to the refusal.

Furthermore, do not attempt to use the service to send money to unknown person’s Fraudulent scammers try many ways to convince others to send them money. The best way to avoid such a scam is simple: send only to people you know personally. If you receive a request and are unsure if it's legitimate, try to confirm identity before proceeding. You can unsubscribe from request emails anytime. You may not submit or receive a funds transfer on behalf of any other person or entity.

4.8 Spending limits:Setting spending limits is a measure taken to protect your account with us, we have placed limits on the number and currency value of transactions that can be made within a set period of time. Refer to the FAQ section of the App at africash.com or contact our customer support team.

4.9 Financial advice:When using the Service, you must rely on your own judgment. As we are not a financial advice body, even as we offer quality platform for financial transactions

5 Payment statements

We will provide you with information in the App and by email related to each Transfer we have accepted, including:

  • A reference enabling you to identify the Transfer
  • The amount you are sending in Nigerian Naira
  • The amount the Recipient will receive in Nigerian Naira
  • The Exchange Rate used for the Transfer
  • The Fee payable to Africash for the Transfer
  • Your Recipient’s details including their bank details used for the Transfer

6 Safeguards and corrective measures

6.1 Security credentials:You must take all reasonable steps to keep safe and confidential all personal details and credentials that we use to authenticate and verify your identity, the use of your account on the App and Transfers.

6.2 Notice of unauthorised use:You must take all reasonable steps to keep safe and confidential all personal details and credentials that we use to authenticate and verify your identity, the use of your account on the App and Transfers.

6.3 If we suspect any unauthorised use:if we suspect any fraud or security threat to your account, we immediately stop the ongoing transaction and may temporary suspend the use of your account on the App. You will be informed about our actions by email or phone.

6.4 Suspension of your account:We may suspend or stop usage of your account on the App if:

  • We receive any notification from you under clause 6.2
  • We consider that it is reasonable to do so on grounds relating to the security, or the suspected fraudulent or unauthorised use, of your account on the App
  • Our security validation, verification and anti-money laundering procedures have not been completed to our satisfaction.

6.5 Right of redress for unauthorised Transfers:If we mistakenly process a transfer not authorized by you, we will refund the amount of the unauthorised payment transaction back to you before the end of the next Business Day, once notified of the unauthorised transaction. Note that refunds to your account may take a further three and five Business Days.

6.6 Our liability for correct execution:. We are liable to you for the correct execution of a Transfer, mistakes in execution may require refunds which will be made to your account to the exact transaction amount without delay.

6.7 Entitlement to refunds:Your entitlement to a refund under clause 6.5 and clause 6.6 is conditional on you notifying us without delay after you become aware (and in any event within a period of 6 months of the transaction) of the unauthorized transaction.

7 Fees and Exchange rates

7.1 Information Provided:Transaction information would be provided to users before they click “Pay” in relation to a transfer, these includes the following:

  • The Fee payable by you to us for the Transfer
  • Details of the Exchange Rate to be applied for the Transfer

7.2 Submit Transfers:When you submit a Transaction, you automatically consent for us to permit payment of the Fee for that Transfer using your payment card details previously supplied by you.

8 Our rights, responsibilities and liability

8.1 Quality of service:We will perform the Service with reasonable speed, care and skill.

8.2 Reasons we may suspend the supply of the Service to you:Services may be temporarily suspended in order to:

  • Deal with technical problems or make technical changes
  • Update the App to reflect changes in relevant laws and regulatory requirements

8.3 Our responsibility for loss and damage suffered by you:We are only liable for loss or damage you suffer that is a foreseeable result of our direct failure to perform our obligations agreed under these terms. We have no contingency plans for non-foreseeable losses.

8.4 Liability which is not excluded:This includes any liability as a result of death or personal injury due to negligence of employees, agents or subcontractors, or fraudulent misrepresentation.

8.5 Maximum amount of our liability:Our liability to you is limited to the total Fees paid by you to us. no excess or punitive claims is allowed.

8.6 We are not liable for exercising our rights:We are under no liability to you when we exercise our rights and discretions under these terms, this includes if instances where we may refuse to accept a Transfer, suspend or stop use of your account on the App.

8.7 We are not liable for matters outside our control:In cases where there is a delay in service delivery or performance outside our control, including any natural disaster, you would be contacted as soon as possible and steps taken to minimize the effect of the delay will be stated clearly.

8.8 We are not liable for Personal business losses:We only supply the Service for private use. If you use the Service for any commercial or business purpose, we will not have any liability or accountability to you for any personal loss of profit, interruptions or opportunity.

8.9 Intellectual property in the App:We are the owner of all intellectual property rights in the App, as well as associated materials published on it. We are compliant with Copyright Act Cap C28 LFN 2004. All such rights are reserved.

9 Your obligations

Your promises to us. You accept and confirm to us that:

  • You are aged over 18 years old
  • All personal details you have provided us about yourself are detailed and accurate
  • All information, including the Recipient’s details, provided to us as part of a Transfer will be correct
  • All funds which you transfer will be paid from a card registered in your name
  • You will not use or attempt to use the App or the Service for any unlawful purpose or any Prohibited use
  • You will only use the Service for your own use and not for any commercial purpose or as an agent or for the benefit or on behalf of any other person

9.2 Your obligations:You are obligated to provide us with information, about your identity and source of funds, this is in compliance with our regulations and any applicable law.

10 Changes and Termination of Terms

10.1 Duration of the Contract:The Contract is valid and binding until otherwise terminated by you or by us in accordance with this clause 10.

10.2 Changes to these terms:Changes to these terms may occur periodically. When this happens, details will be provided at least two months before the date on which they are to take effect.

10.3 Your acceptance or rejection of changes:It is assumed you have accepted any changes to these contract proposed by us, with prior notice unless you decide to terminate this agreement before the date on which the changes become effective.

10.3 Your acceptance or rejection of changes:It is assumed you have accepted any changes to these contract proposed by us, with prior notice unless you decide to terminate this agreement before the date on which the changes become effective.

10.4 If you want to terminate your contract with us:You may terminate this agreement at any time by contacting our customer support team. Once you terminate this agreement, you will not be able to access or utilize the services.

10.5 Our right to terminate:We reserve the rights to terminate this agreement by giving you not less than two months’ written notice.

11 Use of your personal information

We will only use your personal information as set out in our privacy policy which you can view by clicking africash.com.

12 Complaints

12.1 If you are unhappy with our Service:Providing the best quality level of service possible to our esteemed customers, is our ultimate target. You can get in touch by using our contact details provided above once you experience any problem with the app. We will always seek to resolve problems as quickly and efficiently as possible.

12.2 Escalation to the Ombudsman Service:All complaints will be addressed promptly and professionally until a suitable conclusion is reached. In cases where you are not satisfied with our final decision or there is a delay of up 8 weeks after your initial complaint was made then you can refer your complaint to Ombudsman Service, Public Complaints Commission House, Central Business District, Abuja-FCT, Nigeria.

13 Other important Issues

13.1 Transfer the Contract to someone else:Our rights and obligations under these terms to another organization in event of merger or takeover. We will inform you prior to this happening and will ensure the transfer does not affect your rights under these terms.

13.2 You may not transfer your rights to someone else:You may not transfer any of your rights or your obligations under these terms to any other person.

13.3 Nobody else has any rights under this contract:This Contract is confidential and personal between you and us. No other party has rights to enforce the terms of this contract.

13.4 Delay in enforcing this contract:If there is a delay in enforcing the conditions these terms, or delay in taking steps against you in event of a breach of the Contract, it does not mean no action will be taken against you in respect of the contract breach at a future date.

13.5 Payment services regulations:These regulations only need to apply to payment transactions in Naira (N), and executed entirely within the Nigeria, in Nigerian Naira & involves no currency conversion for now.

13.6 All terms of the agreement between us:This document consists of all agreement between you and us. It is legally binding and compliant with operating laws and regulations.

13.7 No remedies for other terms:Both parties can be held liable for any statement, representation, assurance or warranty (whether made innocently or negligently) that is not stated in this Contract in accordance to the terms of agreement.

13.8 The law applicable to this contract:These terms are governed by laws of Nigeria.

13.9 Where you may bring legal proceedings:You may bring legal proceedings in respect of these terms if issue cannot be solved by arbitration or conflict resolution bodies. Any Court of law with legal Jurisdiction on location where is committed can handle the case.