Fincra Technologies Limited

Terms of Use

Effective date: 7th September 2026

These Terms of Use (“Card Terms”) apply when FINCRA issues a Fincra USD Card to you, makes one available to you or you use Fincra USD Card. By using the Service(s), You agree to be legally bound by (i) the Card Terms; (ii) agree to receive all agreements, communications, contracts, disclosures, notices, and any other items electronically to either the email address(es) You provided to FINCRA or any other email addresses you may subsequently provide to FINCRA, via FINCRA’s platform, and/or website, or other medium.
You agree to provide (i) certain data about You, (ii) your Legal Representative, and (iii) any other
information FINCRA may require to provide the service(s).


These Card Terms apply together with any other agreement you have with FINCRA. Where these Card Terms conflict with another agreement, these Card Terms govern with respect to card services.

You must read these Card Terms before you use the Card and if you do not accept any terms therein, please do not use the service.

Eligibility

You must meet FINCRA’s eligibility criteria to get a Card. FINCRA may ask you for an identity document, an address document, or other information.

FINCRA may refuse to issue a Card to you. FINCRA does not have to give you a reason.

You may hold a Card as an individual, or as a corporate entity. Where you hold a Card as a corporate entity, you are responsible for the compliance of anyone you authorise to use the Card with these Card Terms.

Acceptable Use And Prohibited Activities And Industries

You must not use the Card or the Card Services for a prohibited or illegal transaction, or to help someone else carry one out.

You must not use the Card for a transaction connected with an activity or an industry FINCRA publishes on this link Prohibited Activities and Countries unless FINCRA gives you its prior written consent.

You must not, in connection with the Card or the Card Services:

  1. Download, copy, distribute, transmit, publish, license, or create a derivative work from information you obtain from the Card Services, or offer it for sale, except for a temporary file your device automatically caches for display, or another use these Card Terms expressly permit;

  2. Reverse engineer, decompile, disassemble, or attempt to derive the source code of the Card Services;

  3. Remove or alter a copyright notice, a trademark, a service mark, a trade name, a logo, or another proprietary notice displayed on or through the Card Services;

  4. Use a bot, a hack, a modification, or another unauthorised third-party software to alter the Card Services;

  5. Access or use the Card Services in a way that disables, overburdens, damages, or disrupts them, or that interferes with another person’s access to or use of them;

  6. Attempt to gain unauthorised access to, interfere with, damage, or disrupt the Card Services, another person’s account, or a computer system or network connected to the Card Services;

  7. Circumvent, remove, alter, deactivate, or degrade a technological measure or a protection the Card Services use;

  8. Use a VPN or another tool to bypass a geographic restriction or another restriction FINCRA applies to the Card Services;

  9. Use a robot, a spider, a crawler, a scraper, or another automated tool to extract data from the Card Services;

  10. Introduce a virus, a trojan horse, a worm, or another harmful material into FINCRA’s systems;

  11. Refuse to cooperate in an investigation, or refuse to confirm your identity or the accuracy of information you gave FINCRA;

  12. Send or receive a fraudulent payment, or use the Card Services for an unsolicited advertising or marketing purpose;

  13. Use the Card to obtain a cash advance in a way these Card Terms, or a limit FINCRA publishes, does not permit; or

  14. Use the Card Services in a way this section does not expressly permit.

Where you breach this section, FINCRA may suspend or block your Card under the Suspension and Blocking section of these Card Terms, or end these Card Terms under the Term and Termination section.

Card Services

FINCRA provides the Card Services on the basis of these Card Terms, Applicable Law, applicable regulatory requirements, and the rules of the relevant Card Network.

A Card may be physical, virtual, or another form that FINCRA makes available.

FINCRA may use a bank, a licensed financial institution, a Card Network, a processor, a technology provider, or another third-party service provider to deliver part of the Card Services. That part of the service may also be subject to that third party’s own terms.

FINCRA does not promise that the Card or the Card Services will work without interruption. A technical fault, a Card Network outage, a regulatory requirement, a security concern, a fraud-prevention measure, scheduled maintenance, or another event outside FINCRA’s reasonable control can affect availability.

Keeping Your Card Secure

You are responsible for keeping the following confidential and secure: your Card, your Card details, your PIN, your password, your authentication credential, your one-time password, and any other security credential.

Do not give your PIN or another security credential to anyone. You must take reasonable steps to stop unauthorised access to your Card or your Account.

Tell FINCRA immediately if:

  • Your Card is lost or stolen;

  • You think your Card details may have been exposed;

  • You suspect a Card Transaction that you did not authorise;

  • Your PIN or an authentication credential has been shared or compromised; or

  • You become aware of fraud, a security incident, or other suspicious activity connected with your Card.

Your Transactions

You authorise FINCRA, and a partner or processor it uses, to process a Card Transaction that you initiate using your Card.

FINCRA may authorise, decline, reverse, cancel, or otherwise adjust a Card Transaction. FINCRA does this in line with the applicable Card Network rules, Applicable Law, and FINCRA’s own procedures.

FINCRA may decline or refuse a Card Transaction where:

  1. You do not have sufficient available funds;

  2. The transaction is above an applicable limit;

  3. The transaction looks fraudulent or suspicious;

  4. Your Card has been blocked or suspended;

  5. The law or the Card Network rules prohibit the transaction;

  6. The transaction carries a level of risk FINCRA does not accept; or

  7. A regulator, the Card Network, or another competent authority requires FINCRA or its partner to decline the transaction.

FINCRA cannot control whether a Merchant accepts your Card. FINCRA is not responsible for the quality, legality, availability, or delivery of a good or service you buy from a Merchant.

Limits On Your Transactions

FINCRA may set or change a transaction limit. This includes a daily limit, a monthly limit, a per-transaction limit, or a cumulative limit. FINCRA may set a limit for a regulatory, risk-management, fraud-prevention, operational, security, or other legitimate reason.

FINCRA may apply a different limit depending on the Card, the User, the jurisdiction, the currency, the transaction type, or the customer category involved.

Fees

You agree to pay a fee or charge that applies to your Card or the Card Services, as FINCRA communicates to you. This may include a fee for card issuance, replacement, a transaction, foreign exchange, an ATM withdrawal, conversion, administration, or another applicable purpose.

FINCRA may publish its fees on the Website, tell you about them electronically, or otherwise make them available before it provides the relevant service.

You authorise FINCRA to deduct an applicable fee from your Account, or from another available balance, held with Fincra.

Currency Conversion

A Card Transaction made in a currency other than your Card’s or Account’s own currency may need to be converted.

FINCRA, the relevant Card Network, or another service provider involved may set the exchange rate that applies. This depends on how the transaction is handled. A further conversion fee or foreign-exchange fee may apply.

FINCRA is not responsible for a movement in the exchange rate between the time you make a transaction and the time it is finally processed or settled.

REFUNDS AND CHARGEBACKS

Refunds

If you want a refund for a purchase, contact the relevant Merchant first. A refund can take time to appear in your Account. The time depends on the Merchant, the Card Network, the processor, and the settlement process involved. Fincra will not be involved in any dispute between you and a Merchant or be liable under any transaction between you and the Merchant

Where Fincra decides to assist with a refund, give FINCRA the information it reasonably needs to look into the dispute.

Chargebacks

A payment partner, a Card Network, a Card issuer, or another financial institution involved in a Card Transaction may require FINCRA to repay an amount already settled or paid out. This can happen even where the Card Transaction was authorised at the time. This is a “Chargeback”.

You may have to reimburse FINCRA for a Chargeback where you received the payment connected with the Card Transaction. A Chargeback is calculated on the settlement value of the original Card Transaction, or on the same value converted at the exchange rate FINCRA uses on the day it processes the Chargeback.

Where a Chargeback happens, or where you do not respond to a Chargeback claim within 16 hours of FINCRA’s request, FINCRA may immediately debit your Account, your Card balance, or another available balance to recover:

  1. The full amount of the Chargeback;

  2. A Chargeback fee of USD 35, which applies whether or not the Chargeback succeeds; and

  3. Another cost, expense, liability, or fine FINCRA reasonably incurs because of the Chargeback (together, “Chargeback Costs”).

A Chargeback and Chargeback Costs are an immediate liability you owe FINCRA. Where FINCRA cannot recover the full amount by debiting your Account, your Card balance, or another available balance, FINCRA may recover the remaining amount from you by another means.

A Card Network, a Card issuer, a payment partner, or another financial institution decides whether a Chargeback is valid. FINCRA does not have to investigate that decision, and the decision is final and binding on you.

It is your responsibility to prove, to FINCRA’s satisfaction or to the satisfaction of the relevant Card Network, Card issuer, or payment partner, that a disputed Card Transaction was authorised by you or otherwise.

A Chargeback can arise a long time after the Card Transaction it relates to. FINCRA may still recover a Chargeback and Chargeback Costs after your access to the Card Services ends, where the underlying Card Transaction happened while these Card Terms applied to you.

Where FINCRA reasonably considers that the value of your refunds or Chargebacks is unreasonable, FINCRA may pass on a fine to you, charge you an additional fee, suspend your Card, or end your access to the Card Services under the Term and Termination section of these Card Terms.

Reserve Balance

FINCRA may require you to keep a minimum amount on your Account (a “Reserve Balance”) as a condition of continued access to the Card Services. FINCRA may draw on your Reserve Balance to cover a liability you owe FINCRA connected with your use of the Card Services. You authorise FINCRA to debit your Reserve Balance for a sum you owe FINCRA under these Card Terms. Where you do not keep the required Reserve Balance, FINCRA may suspend the Card Services or end these Card Terms.

Where FINCRA debits your Reserve Balance and it falls below the required amount, you have 3 Business Days to restore it to the required amount.

FINCRA may hold your Reserve Balance for up to 180 days after these Card Terms end, or for a longer period where FINCRA reasonably needs this to cover a liability connected with your use of the Card Services.

Suspension and Blocking

FINCRA may immediately suspend, restrict, or block your Card or the Card Services where:

  1. You do not provide information FINCRA reasonably needs for a compliance purpose;

  2. Applicable Law or a regulatory authority requires it;

  3. A Card Network or payment partner requires it;

  4. FINCRA suspects fraud or unauthorised activity;

  5. FINCRA reasonably suspects money laundering, terrorist financing, or another financial crime;

  6. Your Card or Account has been compromised;

  7. You breach these Card Terms;

  8. You give FINCRA false, incomplete, or misleading information;

  9. You do not meet an applicable KYC or verification requirement;

  10. Your use of the Card carries a material security or operational risk; or

  11. FINCRA reasonably decides that continuing to provide the Card Services could expose FINCRA, a User, a partner, or another person to a legal, regulatory, financial, security, or reputational risk.

Where it is lawful and practical to do so, FINCRA will tell you that it has suspended your Card or the Card Services, and why.

Term and Termination

Your Card is valid until the expiry date on the Card, or until these Card Terms end, whichever happens first.

Either you or FINCRA may end these Card Terms at any time, for any reason, by giving the other 30 days’ written notice.

Regardless of the paragraph above, FINCRA may end these Card Terms immediately, or suspend your access to the Card Services immediately, where:

  1. A regulator requires FINCRA to do so;

  2. You fail to comply with Applicable Law;

  3. You breach these Card Terms;

  4. You fail to meet a technical, security, or access requirement FINCRA communicates to you;

  5. A Card Network requires FINCRA to do so;

  6. You do not give FINCRA sufficient information about a Card Transaction, or about a party connected with a Card Transaction;

  7. Fraud is committed by you, or by someone connected with your use of the Card;

  8. You fail to pay a sum due under these Card Terms by its due date;

  9. FINCRA reasonably believes that something has happened that affects your ability or willingness to meet your obligations under these Card Terms;

  10. FINCRA reasonably decides that continuing to provide the Card Services to you represents an increased risk of loss or liability;

  11. You do not submit complete or accurate KYC or verification information; or

  12. A Card Network, a financial institution, or another third party brings a fine or a claim against FINCRA that arises from your use of the Card, including a claim connected with a security breach or compromise of data relating to your Card or Account.

 

FINCRA will tell you in writing that it has suspended your access (where lawful), and, where you can fix the reason for the suspension, what you need to do and by when.Where you meet the requirement FINCRA communicates to you, FINCRA will restore your access within 48 hours. You bear a reasonable cost that results from a suspension, a restriction, or a reinstatement of your access. FINCRA is not liable to you where it properly exercises a right under this section.

Termination does not remove your obligation to pay a fee, a charge, or another amount you owe FINCRA. A Card Transaction made before these Card Terms end will still be processed and settled.

You must destroy a physical Card, or confirm that a virtual Card is deleted, when your access to the Card Services ends.

Limitation of Liability

FINCRA excludes a condition, a warranty, or a representation about the Card or the Card Services that a statute, common law, or another source would otherwise imply.
FINCRA is not liable to you, whether for negligence, breach of these Card Terms, misrepresentation, or otherwise, for:

  1. A loss you suffer because of a third-party claim, a virus, malware, IP spoofing, exposure of an API key or a security credential, a fraudulent or malicious attack, a power cut, a service interruption, or another IT, hardware, or software fault;

  2. A loss you suffer because of a decision by a court, a regulator, or another authority, or the operation of Applicable Law;

  3. A loss of profit, revenue, business, goodwill, or anticipated saving;

  4. An indirect, a consequential, a punitive, an exemplary, or a similar loss, including reputational damage;

  5. A loss caused by a Merchant, including the quality, legality, availability, or delivery of a good or service you buy from a Merchant;

  6. A loss caused by a Card Network, a processor, a bank, or another third-party service provider that FINCRA reasonably relies on to deliver part of the Card Services;

  7. A movement in an exchange rate, or a delay in the settlement or processing of a Card Transaction;

  8. A loss caused by your failure to keep your Card, your PIN, or another security credential confidential and secure; or

  9. A loss that is the consequence, wholly or partly, of your breach of these Card Terms.

FINCRA’s entire liability to you under or connected with these Card Terms, whether for negligence, breach of these Card Terms, misrepresentation, or otherwise, is limited to the total fees FINCRA earned from your use of the Card Services in the one month immediately before the date your claim arose. This limit applies no matter how many claims you bring.

FINCRA is not liable where an abnormal and unforeseeable event outside its reasonable control stops it meeting an obligation under these Card Terms.

FINCRA is also not liable for a loss that happens during scheduled maintenance of the Card Services that FINCRA told you about in advance.

Any claim you have against Fincra must be brought within one year after the cause of the claim arose, otherwise you loose such claim.

This Limitation of Liability section continues to apply after these Card Terms end or terminate.

Indemnity

You agree to indemnify FINCRA, its affiliates, and their officers, employees, and agents. You agree to hold them harmless against a claim, a demand, a loss, a liability, a cost, or an expense, including a reasonable legal fee, that FINCRA suffers or incurs arising out of or connected with:

  1. Your misuse of the Card or the Card Services;

  2. Your breach of these Card Terms or Applicable Law;

  3. Your breach of a third-party service provider’s terms that apply to part of the Card Services;

  4. Your misconduct or negligence;

  5. A Card Transaction that you authorise, or that FINCRA reasonably treats as authorised because you did not keep your Card, your PIN, or another security credential confidential and secure; or

  6. A claim that a Merchant or another third party brings that is connected with your use of the Card.

This indemnity does not cover a claim, a loss, or an expense caused by FINCRA’s own fraud, gross negligence, or willful misconduct.

Changes to These Card Terms

FINCRA may change these Card Terms at any time. Where Applicable Law requires notice, FINCRA will tell you about a change before it takes effect.


Your continued use of the Card Services after a change takes effect means you accept the change. If you do not accept a change, stop using the Card Services and tell FINCRA that you want to close your Card.

Governing Law and Disputes

These Card Terms are governed by the law of Nigeria. A court of Lagos has authority over a dispute arising from these Card Terms, unless Applicable Law states otherwise.

Definitions

  • “Account” the account, wallet, or similar facility that FINCRA or its partner maintains, through which the Card Services are provided.

  • “Applicable Law” a law, a regulation, a rule, or a regulatory requirement that applies to FINCRA, to you, or to the Card Services.

  • “Business Day” a day, other than a Saturday, a Sunday, or a public holiday, on which banks are open for general business in the jurisdiction FINCRA tells you applies to your Account.

  • “Card” a physical or virtual payment card that FINCRA issues or otherwise makes available, including a replacement or an additional card.

  • “Cardholder” the individual or entity a Card is issued to.

  • “Card Network” or “Card Scheme” means, Mastercard, or another card network or scheme that applies to the Card.

  • “Card Services” the card-related services FINCRA provides, including issuing, activating, managing, and processing a transaction made using a Card.

  • “Card Terms” these Fincra USD Card Terms of Use, as FINCRA updates them from time to time.

  • “Card Transaction” a transaction made using a Card or its associated details, including a purchase, payment, withdrawal, refund, reversal, or another transaction the Card Services support.

  • “Chargeback” the reversal of a Card Transaction that a Card Network, a Card issuer, a payment partner, or another financial institution orders under its own rules.

  • “Chargeback Costs” a Chargeback fee, and another cost, expense, liability, or fine, that FINCRA reasonably incurs because of a Chargeback.

  • “FINCRA” the Fincra entity that issues the Card or provides the Card Services to you, as identified on the Website or in your onboarding documents.

  • “Merchant” a person or entity that accepts a Card or a Card Transaction.

  • “PIN” the personal identification number linked to a Card.

  • “Reserve Balance” a minimum amount FINCRA requires you to keep on your Account, as a condition of continued access to the Card Services.

  • “Services” the Card Services and another service FINCRA expressly makes available to you.

  • “User” a Cardholder, or another person a Cardholder authorises to use the Card Services.

  • “Website” the Fincra website and the Fincra app.

Contact Information

Email: [email protected]