Terms and Conditions

Effective Date: January 1, 2025

1. Introduction

Welcome to PayPetal. These Terms and Conditions (“Terms”) govern your access to and use of PayPetal’s services, including our website, mobile application, wallet services, Trust Vault, payment infrastructure (including Tap-to-Pay), and related APIs/SDKs. By accessing or using PayPetal, you agree to be bound by these Terms. If you do not agree, you must not use our services.

2. Definitions

  • “PayPetal,” “we,” “us,” or “our” refers to Omnicore Digital Technologies operating PayPetal.
  • “User,” “you,” or “your” refers to any individual or entity using PayPetal services.
  • “Services” refers to all PayPetal products including Wallet, Trust Vault, POS, Tap-to-Pay, APIs, and related features.
  • “Wallet” refers to the stored-value account provided by PayPetal.
  • “Trust Vault” refers to PayPetal’s conditional payment holding and dispute mediation service.

3. Eligibility

To use PayPetal, you must:

  1. Be at least 18 years old or the legal age of majority in your jurisdiction.
  2. Provide accurate, complete, and verifiable information during registration.
  3. Comply with all applicable laws and regulations.

4. Account Registration and Security

  • You are responsible for maintaining the confidentiality of your account credentials.
  • You agree to notify PayPetal immediately of any unauthorized access or security breach.
  • PayPetal reserves the right to suspend, restrict, or terminate accounts where suspicious, fraudulent, or non-compliant activity is detected.

5. Wallet Services

The PayPetal Wallet allows users to:

  • Store funds electronically;
  • Fund wallets via approved banking/payment partners;
  • Send and receive money;
  • Withdraw funds to supported external bank accounts;
  • Pay applicable transaction fees.

Wallet balances do not constitute a bank account and do not earn interest.

6. Trust Vault Services

PayPetal Trust Vault is a conditional payment system used for transactions between users including buyers, sellers, freelancers, and service providers.

  • Funds are held securely until release conditions are met.
  • The initiating party or agreed transaction controller authorizes release of funds.
  • In case of dispute, funds may be frozen pending investigation.
  • PayPetal acts as a neutral intermediary and dispute facilitator only and is not a party to the underlying transaction.

7. User Obligations

Users agree to:

  1. Use PayPetal only for lawful purposes.
  2. Ensure all transaction details provided are accurate.
  3. Maintain sufficient wallet balance or funding sources.
  4. Refrain from fraudulent, abusive, or unauthorized activity.

8. Prohibited Activities

Users must not:

  • Engage in money laundering, terrorism financing, or illegal activities.
  • Attempt to hack, manipulate, or disrupt PayPetal systems.
  • Provide false identity or misleading information.
  • Share account access or credentials with unauthorized persons.

Violation may result in suspension, termination, or legal action.

9. Fees and Charges

PayPetal may charge fees for transactions, withdrawals, Trust Vault usage, and other services. All applicable fees will be disclosed before confirmation of transactions and may change from time to time.

10. Transaction Limits

PayPetal may impose limits on transactions based on:

  • Risk assessment;
  • Regulatory requirements;
  • System security controls;
  • Operational considerations.

11. Refunds and Disputes

  • Transactions are generally final once confirmed.
  • Refunds may only be issued in cases of system error, proven fraud, or as determined by PayPetal after investigation.
  • Users must report disputes within three (3) days of transaction completion.
  • PayPetal will investigate and provide a resolution based on available evidence.

12. Dispute Resolution (Trust Vault)

For Trust Vault transactions:

  • Funds may be frozen during dispute investigation.
  • PayPetal may request supporting documentation from all parties.
  • PayPetal will act as a neutral mediator and determine appropriate resolution where applicable.

13. Data Privacy and Disclosure

By using PayPetal, you agree to the collection and use of your data in accordance with our Privacy Policy. We may collect personal, financial, technical, and usage data to provide services and comply with regulatory obligations. We may disclose user data when required by:

  • Law enforcement agencies;
  • Regulatory authorities;
  • Courts or valid legal processes.

Users acknowledge that such disclosures may occur without prior notice where legally required.

14. Service Availability and Disclaimer

While PayPetal strives for continuous availability, we do not guarantee uninterrupted or error-free service. We are not responsible for losses arising from:

  • Network or system failures;
  • Third-party service disruptions (including banking partners);
  • User errors in transaction details;
  • Unauthorized access due to user negligence.

15. Limitation of Liability

To the maximum extent permitted by applicable law, PayPetal’s aggregate liability arising out of or in connection with any claim shall be limited to the total fees actually paid by the user to PayPetal for the specific service giving rise to such claim within the period directly related to the disputed transaction. In no event shall PayPetal be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, loss of data, loss of goodwill, or business interruption, whether arising in contract, tort, negligence, or otherwise, even if advised of the possibility of such damages.

16. Indemnity

You agree to indemnify and hold harmless PayPetal from any claims, losses, or damages arising from:

  • Violation of these Terms;
  • Misuse of services;
  • Fraudulent or illegal activity;
  • Breach of applicable laws.

17. Termination of Services

PayPetal may suspend or terminate access to services at its discretion, including where:

  • Terms are violated;
  • Fraud or suspicious activity is detected;
  • Required by law or regulatory authorities.

18. Amendments to Terms

We may update these Terms from time to time. Continued use of PayPetal after updates constitutes acceptance of the revised Terms.

19. Governing Law and Jurisdiction

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes shall be subject to the exclusive jurisdiction of the Nigerian courts.

20. Severability

If any provision of these Terms is found invalid or unenforceable, the remaining provisions shall continue in full force and effect.

21. Entire Agreement

These Terms, together with our Privacy Policy and related legal documents, constitute the entire agreement between you and PayPetal.

22. Contact Us

For Suport or Enquiries:

  • Email: contactus@paypetalhq.com
  • Phone: +234 (0) 7077319147
  • Address: 2 Ogo Oluwa Estate, Airport, Ibadan, Oyo State, Nigeria

By using PayPetal, you acknowledge that you have read and understood this Privacy Policy.