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Fincra Technologies Limited

Terms of Use

These terms and conditions (“Terms”) are a contract between you and Fincra Technologies Limited (“Fincra”, “we” or “us”) and apply to your use of Fincra’s payment infrastructure services. You understand that your use of any of our services is also subject to the Fincra Privacy Policy, Fincra Acceptable Use Policy, Merchants Terms of Use, and any other legal agreements that apply to you as a Fincra customer (collectively, the “Related Agreements”). Your continued use of this website ( (“Website”) or any of our service via any other medium acceptable by us constitutes acceptance of these Terms and all Related Agreements.

If any conflict exists between the Terms and any Related Agreements, the specific terms of the Related Agreements shall control with respect to the particular service being accessed by you to the extent of the conflict. We may amend these Terms at any time by posting a revised version on our website. The revised version will be effective at the time we post it unless otherwise noted. We will post a notification on our website of any amendments or revisions to these Terms and your use of the Website and if our changes reduce your rights or increase your responsibilities, we will provide you with advance notice of 5 (five) days from the date of the publication.

About Us

Fincra is an online payment aggregator which facilitates online payment among individuals or companies willing to make or receive payments as the case may be (the “Service”), with the simple idea of making the flow of money and value into, within and from Africa seamless, efficient and cheap.

We are an independent contractor for all purposes, providing this website and our services on an independent service provider basis. We do not have control or assume the liability or legality for the products or services that are paid for with our service. We do not guarantee any user’s identity and cannot ensure that a buyer or seller will complete a transaction.

Our Services

You understand that your use of the Services are subject to these Terms, the Related Agreements, as applicable, and the relevant rules, regulations, guidelines and circulars as published by the regulatory authorities from time to time. Therefore, we may impose necessary limits, restrictions and conditions on your use of the Services at any time with or without notice to you. We will not accept any liability for such limitations, restrictions and or conditions as they affect you or your business.

  • Refund: Where any transaction fails or is not completed for any reason, we will, upon a written request received from you, refund the money (including any fees you were charged) through the original payment method you used for the transaction (i.e. credit card, debit card, or direct debit).
  • Chargeback: We may require you to reimburse us for chargebacks where you have accepted payment under circumstances determined by us and the relevant payment scheme, and acceptable under the law and you undertake to respond to such requests in accordance with rules stipulated by us.
  • Fees: The fees applicable to transactions conducted on our portals can be found in the relevant Related Agreement executed with us and will be disclosed to you in advance each time you initiate a transaction. You understand that where you use your credit card as the payment method when sending money, you may also be charged a cash-advance fee by your card issuer.

Dispute and Reversals

You agree to immediately notify us of any unauthorized or otherwise problematic transaction carried out using your account with us, to enable us take action to help prevent financial loss. All claims against us related to payments should be made within 45 (forty-five) days after the date of such payment. It will be taken that you waive all claims against us, to the fullest extent of the law after the said period of time.

Regardless, you understand and agree that we have no liability for goods and services paid for using our Services. Our only involvement with regard to such transactions is as a payment aggregator.

We may intervene in disputes between users and merchants concerning payments but have no obligation to do so.

You will provide us with the relevant transaction ID and/or transaction details to enable us resolve all disputes.

Intellectual Property

If you are using Fincra software such as an API, developer’s toolkit or other software application, which may include software provided by or integrated with software, systems or services of our service providers, that you have downloaded or otherwise accessed through a web or mobile platform, then Fincra grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited license to access and/or use Fincra’s software in accordance with the documentation accompanying such software. This license grant applies to the software and all updates, upgrades, new versions and replacement software.

You may not rent, lease or otherwise transfer your rights in the software to a third party. You must comply with the implementation, access and use requirements contained in all documentation accompanying the Services. If you do not comply with implementation, access and use requirements you will be liable for all resulting damages suffered by you, Fincra and third parties. Fincra may update or discontinue any software upon notice to you.

While Fincra may have

(i) integrated certain third-party materials and technology into any web or other application, including its software, and/or

(ii) accessed and used certain third-party materials and technology to facilitate providing you with the Services,

you have not been granted and do not otherwise retain any rights in or to any such third-party materials. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the software or any third-party materials or technology, or otherwise create any derivative works from any of the software or third-party materials or technology.

You acknowledge that all rights, title and interest to Fincra’s software are owned by Fincra and any third-party materials integrated therein are owned by Fincra’s third-party service providers. Any other third-party software application you use on theWebsite is subject to the license you agreed to with the third party that provides you with this software. You acknowledge that Fincra does not own, control nor have any responsibility or liability for any such third-party software application you elect to use on any of our websites, software and/or in connection with the Services.

Restricted Activities

In connection with your use of the Website, any of our Services, or in the course of your interactions with Fincra, other Fincra customers, or third parties, you must not:

  • Breach these Terms, the Fincra Acceptable Use Policy, the Fincra Privacy Policy, Merchant Service Agreement (if it applies to you), or any other agreement between you and Fincra;
  • Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);
  • Infringe Fincra’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
  • Sell counterfeit goods;
  • Act in a manner that is defamatory, trade libelous, threatening or harassing;
  • Provide false, inaccurate or misleading information;
  • Send or receive what we reasonably believe to be potentially fraudulent funds;
  • Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;
  • Control an account that is linked to another account that has engaged in any of these restricted activities;
  • Conduct your business or use the Services in a manner that usually results in or may result in;
    1. Complaints;
    2. fees, fines, penalties or other liability or losses to Fincra, other Fincra customers, third parties or you;
  • Use the Services in a manner that Fincra, Central Bank of Nigeria (CBN) or any other regulatory agency, or any payment scheme reasonably believes to be an abuse of the card system or a violation of card association or network rules;
  • Access the Services from a country that is not included on Fincra’s permitted countries list;
  • Take any action that imposes an unreasonable or disproportionately large load on the Websites, our software or systems (including any networks and servers used to provide the Services) operated by us or on our behalf, or the Services;
  • Facilitate any viruses, trojan horses, malware, worms or other computer programming routines that attempts to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorized access to any system, data, information or the Services;
  • Use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our websites without our prior written permission; or use any device, software or routine to bypass our robot exclusion headers;
  • Interfere or disrupt or attempt to interfere with or disrupt the Website, our software, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf, any of the Services or other users’ use of any of the Services;
  • Take any action that may cause us to lose any of the services from our internet service providers, payment processors, or other suppliers or service providers;
  • Use the Services to test credit card behaviors;
  • Circumvent any Fincra policy or determinations about your use of the Services such as temporary or indefinite suspensions or other limitations or restrictions; or
  • Harass and/or threaten our employees, agents, or other users.

Potential Actions we May Take Against You if you Engage in a Restricted Activity

If we believe, discover, or get information that you have engaged in any of the restricted activities listed in paragraph 3 above, we have the exclusive and unqualified prerogative to any action including but not limited to the ones undelisted, to protect Fincra, its customers and others at any time in our sole discretion.

  • Terminate these Terms, and limit, close and/or suspend your access to the Services, software, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf, immediately and without penalty to us;
  • Refuse to provide the Services to you in the future;
  • Contact third parties who have transacted with you or law enforcement about your actions;
  • Update inaccurate information you provided us;
  • Take legal action against you; or
  • If you violated our Acceptable Use Policy, then you’re also responsible for damages to Fincra caused by your violation of this policy.

If we terminate your use of the Services for any reason, we’ll provide you with notice of our actions.

You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by Fincra, any Fincra customer, or a third party caused by or arising out of your breach of this agreement, and/or your use of the Fincra services.


You may not transfer or assign any rights or obligations you have under these Terms or the Related Agreements without Fincra’s prior written consent. Fincra may transfer or assign these Terms or any right or obligation under these Terms at any time.

Age Restriction

Our website and services are not directed to children under 18. We do not knowingly transact or provide any services to children under 18.


We try to keep the Website available at all times, bug-free and safe, however, you use it at your own risk.

The Website and Services are provided “as is” without any express, implied and/or statutory warranties (including, but not limited to, any implied or statutory warranties of merchantability, fitness for a particular use or purpose, title, and non-infringement of intellectual property rights). Without limiting the generality of the foregoing, Fincra makes no warranty that the Website and/or the Services will meet your requirements or that the Website will be uninterrupted, timely, secure, or error free. No advice or information, whether oral or written, obtained by you through our website or from Fincra, its parents, subsidiaries, or other affiliated companies, or its or their suppliers (or the respective officers, directors, employees, or agents of any such entities) (collectively the “Fincra Parties”) shall create any warranty.

Limitations of Liability

In no event will any of the Fincra Parties be liable for (a) any indirect, special, consequential, punitive, or exemplary damages or (b) any damages whatsoever in excess of the amount of the transaction or twenty thousand United States Dollars (US$20,000.00) dollars, whichever is lesser (including, without limitation, those resulting from loss of revenues, lost profits, loss of goodwill, loss of use, business interruption, or other intangible losses), arising out of or in connection with the Website or Services (including, without limitation, use, inability to use, or the results of use of the Websites or Services), whether such damages are based on warranty, contract, tort, statute, or any other legal theory.


Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for certain damages. Accordingly, some of the above disclaimers and limitations of liability may not apply to you. To the extent that any of the Fincra Parties may not, as a matter of applicable law, disclaim any implied warranty or limit its liabilities, the scope and duration of such warranty and the extent of the Fincra’s Party’s liability shall be the minimum permitted under such applicable law.

Applicable Law

These Terms shall be interpreted and governed by the laws currently in force in the Federal Republic of Nigeria.

Legal Disputes

We shall make an effort to settle all disputes amicably. Any dispute arising out of these Terms which is not settled by mutual agreement/negotiation within 2 (two) weeks shall be referred to arbitration by a single arbitrator at the Lagos Multi-Door Courthouse (“LMDC”) and governed by the Lagos State Arbitration Law 2009 (as may be amended from time to time). The arbitrator shall be appointed by both of us (we and you), where both of us are unable to agree on the choice of an arbitrator, the choice of arbitration shall be referred to the LMDC. The findings of the arbitrator and subsequent award shall be binding on both of us. Each of us shall bear our respective costs in connection with the Arbitration. Venue for the arbitration shall be Lagos, Nigeria.

Court Orders and Regulatory Requirements

If we are notified of a court order or other legal process (including garnishment or any equivalent process) affecting you, or if we otherwise believe we are required to do so in order to comply with applicable law or regulatory requirements, we may be required to take certain actions, including holding payments to/from you, placing a reserve or limitation on your Fincra account, or releasing your funds. We will decide, in our sole discretion, which action is required of us. Unless the court order, applicable law, regulatory requirement or other legal process requires otherwise, we will notify you of these actions. We do not have an obligation to contest or appeal any court order or legal process involving you or your Fincra account. When we implement a hold, reserve or limitation as a result of a court order, applicable law, regulatory requirement or other legal process, the hold, reserve or limitation may remain in place longer than 180 days.


If any portion of these Terms is held by any court or tribunal to be invalid or unenforceable, either in whole or in part, then that part shall be severed from these Terms and shall not affect the validity or enforceability of any other part in these Terms.

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