1. Acceptance of Terms
Welcome to Payswitch!
By using our services, you agree to comply with and be bound by these Terms of Use.
If you do not agree with these terms, please do not use our app.
2. Privacy Policy
Your use of our app is also
governed by our Privacy Policy, which can be found here.
Please review the Privacy Policy to understand how we collect, use, and protect
your information.
3. User Registration
To use certain features of our
app, you may be required to register for an account. You agree to provide
accurate and complete information during the registration process and to keep
your account information up to date.
4. Use of the App
4.1. User Responsibilities
- You are solely responsible for maintaining the confidentiality of your
account credentials.
- You agree not to use the app for any illegal or unauthorized purposes.
- You agree not to use the app in a manner that violates the rights of others
or that could harm the app's functionality.
4.2. Data Collection and Use
- Payswitch collects and stores your personal information.
- Payswitch may also collect your debit card details and bank verification number for the purpose of
providing financial services and complying with legal requirements. However, these are not stored on our system.
- We take reasonable measures to protect the security and confidentiality
of your data. Please review our Privacy Policy for more details.
4.3. Communications & Notifications Consent
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By using the App or any Payswitch service, you expressly consent to receive emails, SMS messages, push notifications, alerts, and other forms of communication from Payswitch at any time relating to your account activity, security notifications, service updates, transactions, promotions, or any other use of the App. You acknowledge that such communications are an essential part of the service and cannot be opted out of where they relate to security, compliance, or operational matters.
4.4. Charges
- There is a 1.5% transaction fee applied on USD card transactions.
- There is a 2.5% transaction fee applied on Naira transactions.
- There is a 2.5% + $0.5 cross border charge for USD transactions settled outside the US.
- There is a $0.40 charge on failed transactions caused by insufficient fund on your card. - (We recommend funding your card before transacting or setting it to Inactive when not transacting).
- There is a 2.5% fee for USD payment links, with a maximum of $5.
- There is a 3.0% fee for Naira payment links, with a maximum of 2000 NGN.
- There is a 4.0% fee for incoming transfers on USD bank accounts, with a minimum of $3.
- There is a $3 monthly USD account maintenance charge.
- There is a N400/Naira card monthly maintenance charge.
- There is a N200/Naira card quarterly maintenance charge.
- There is a $0.80/USD card monthly maintenance charge.
- There is a $0.20/USD card quarterly maintenance charge.
4.5. Card Termination
- We may terminate your USD card when 3 consecutive failed transactions occur on your card due to insufficient fund.
5. Financial Services
5.1. Disclaimer - User Responsibility and Fraudulent Activity
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Payswitch is a financial technology platform that provides digital financial services to its users. By using our services, you agree and acknowledge that you are solely responsible for all activities conducted through your account.
Payswitch will not be held liable or responsible for any fraudulent, illegal, or unauthorized activity carried out by any user on the platform. It is the full responsibility of each user to ensure that their actions comply with applicable laws, regulations, and the terms of use governing our services.
Users found engaging in fraudulent activities may have their access to Payswitch permanently restricted, and such actions may be reported to relevant authorities. Payswitch reserves the right to cooperate with law enforcement and regulatory bodies in any investigations related to misuse of our platform.
By continuing to use Payswitch, you confirm that you understand and accept this disclaimer and agree to use the platform lawfully and responsibly at all times.
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Payswitch provides financial services for transactional purposes only.
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We do not guarantee that transactional charges will forever remain the same.
5.2. Third-Party Services
- The app may integrate with third-party financial institutions or
services. Your use of these services is subject to their terms and
policies.
6. Termination
We reserve the right to terminate or suspend your
account at our discretion, with or without cause. You may also terminate your account by contacting us or do so yourself from the app.
7. User Responsibilities and Prohibited Conduct
You agree that you will not misuse Payswitch services. This includes but is not limited to:
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Providing false information or attempting to impersonate another person or entity.
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Attempting to circumvent, disrupt, hack, reverse-engineer, or otherwise interfere with the Platform.
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Attempting to initiate false disputes, fraudulent chargebacks, or frivolous legal claims.
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Using the service for illegal, harmful, deceptive, or abusive activities.
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Engaging in conduct that may damage Payswitch’s reputation, systems, or other users.
Payswitch reserves the right to suspend, restrict, or terminate your access to the Platform without prior notice if any misuse or suspicious activity is detected.
8. No Liability for User Actions, Third Parties, or External Events
To the maximum extent permitted by law, Payswitch shall not be liable for:
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Losses arising from your failure to maintain accurate account information.
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Losses caused by your negligence, device compromise, forgotten passwords, or unauthorized access due to your actions.
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Delays, interruptions, or service failures caused by telecommunications providers, internet issues, banks, payment processors, or other third-party providers.
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Any loss of funds, revenue, data, or opportunities arising from your failure to follow instructions, security guidelines, or verification procedures.
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Any indirect, incidental, consequential, exemplary, or punitive damages.
You acknowledge that Payswitch provides services on an “as-is” and “as-available” basis.
9. Limitation of Liability & Indemnity
1. Limitation of Liability
Payswitch’s total liability to you for all claims, whether in contract, negligence, tort, or otherwise, shall be limited to the total fees you paid to Payswitch in the 1 month preceding the event giving rise to the claim.
2. Indemnity
You agree to defend, indemnify, and hold harmless Payswitch, its directors, employees, affiliates, and partners from any claims, losses, damages, suits, legal fees, or liabilities arising out of:
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Your use or misuse of the Platform
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Your breach of these Terms
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Your violation of any law or rights of a third party
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Any fraudulent, negligent, or harmful conduct by you
This clause survives the termination of your account.
10. No Class Actions / No Frivolous Lawsuits
To protect against abusive legal behavior:
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You agree that any dispute must be brought on an individual basis.
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You waive the right to participate in any class action, consolidated action, or representative proceeding.
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You agree not to initiate frivolous, malicious, or clearly unreasonable legal claims.
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Any claims found to be frivolous or filed in bad faith will entitle Payswitch to recover its legal costs from you.
11. Arbitration & Governing Law
Any dispute arising from the use of Payswitch services shall be resolved through binding arbitration, not court litigation, in accordance with the laws of the Federal Republic of Nigeria.
You agree that:
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Arbitration is the exclusive dispute-resolution method.
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Court involvement is limited only to enforcing an arbitration award.
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Payswitch may seek injunctive relief for illegal, fraudulent, or harmful actions.
12. Changes to Terms
We may update these Terms of Use from time to time.
Any changes will be posted on this page, and your continued use of the app
after such changes constitute your acceptance of the revised terms.
13. Contact Us
If you have any questions or concerns about these
Terms of Use or your account, please contact us at hi@payswitch.africa.
