Privacy Policies

Monnify is committed to managing your Personal Information in line with global industry best practices. You can read our Privacy Policy to understand how we use your information and the steps we take to protect your information.

Disclaimers

WE TRY TO KEEP MONNIFY AVAILABLE AT ALL TIMES, BUG-FREE AND SAFE, HOWEVER, YOU USE IT AT YOUR OWN RISK.

OUR 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, MONNIFY MAKES NO WARRANTY THAT OUR WEBSITE AND SERVICES WILL MEET YOUR REQUIREMENTS OR THAT OUR 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 MONNIFY, 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, "MONNIFY PARTIES") SHALL CREATE ANY WARRANTY.

Limitation of Liability

IN NO EVENT WILL ANY OF THE MONNIFY 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 MONNIFY’S WEBSITE OR SERVICES (INCLUDING, WITHOUT LIMITATION, USE, INABILITY TO USE, OR THE RESULTS OF USE OF MONNIFY’S WEBSITES OR SERVICES), WHETHER SUCH DAMAGES ARE BASED ON WARRANTY, CONTRACT, TORT, STATUTE, OR ANY OTHER LEGAL THEORY.

Exclusions

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 Monnify Party 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 Monnify’s Party's liability shall be the minimum permitted under such applicable law.

Indemnity

You agree to defend, indemnify, and hold Monnify, its officers, directors, employees, agents, licensors, and suppliers, harmless from and against any claims, actions or demands, liabilities and settlements including without limitation, reasonable legal and accounting fees, resulting from, or alleged to result from, your violation of this Agreement.

Updates, Modifications & Amendments

We may need to update, modify or amend our Merchant Terms of Service as our technology evolves. We reserve the right to make changes to this Merchant Terms of Service at any time by giving notice to users on this page.

We advise that you check this page often, referring to the date of the last modification on the page If you have any objection to any of the changes to this Merchant Terms of Service, you must cease using our website and/or services immediately.

Applicable Law

These Terms of Use 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 this Agreement which cannot be settled, by mutual agreement/negotiation within 1 (one) month shall be referred to arbitration by a single arbitrator at the Lagos Multi-Door Courthouse (“LMDC”) and governed by the Arbitration and Conciliation Act, Cap A10, Laws of the Federal Republic of Nigeria. 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.

Severability

If any portion of these Terms of Use 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 of Use and shall not affect the validity or enforceability of any other part in this Terms of Use.

Miscellaneous

You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing. Assigning or sub-contracting any of your rights or obligations under these Terms of Use to any third party is prohibited. We reserve the right to transfer, assign or sub-contract the benefit of the whole or part of any rights or obligations under these Terms of Use to any third party.

Acceptable Use Policy

By accessing or using Monnify, you agree to comply with the terms and conditions of this Acceptable Use Policy.

Restricted Activities

You may not use Monnify in connection with any product, service, transaction or activity that:

  • violates any law or government regulation, or promotes or facilitates such by third parties;
  • violates any rule or regulation of Visa, MasterCard, Verve or any other electronic funds transfer network (each, a “Card Network”);
  • is fraudulent, deceptive, unfair or predatory;
  • causes or threatens reputational damage to us or any Card Network;
  • involves any of the business categories listed in clause 2 below; or
  • results in or creates a significant risk of chargebacks, penalties, damages or other harm or liability.

Certain Business Categories

You may not use Monnify in connection with any product, service, transaction or activity that:

  • falls within the Prohibition List of the Nigerian Customs Administration of the Federal Republic of Nigeria
  • relates to the sale and/or purchase of:
    1. banned narcotics, steroids, certain controlled substances or other products that present a risk a consumer's safety;
    2. blood, bodily fluids or body parts;
    3. burglary tools;
    4. counterfeit items;
    5. illegal drugs and drug paraphernalia;
    6. fireworks, destructive devices and explosives;
    7. identity documents, government documents, personal financial records or personal information (in any form, including mailing lists);
    8. lottery tickets, sweepstakes entries or slot machines without the required license;
    9. offensive material or hate speech or items that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
    10. police badges or uniforms;
    11. chemicals;
    12. recalled items;
    13. prohibited services;
    14. unlicensed financial services, stocks or other securities;
    15. stolen property;
    16. items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction;
    17. sales of currency without Bureau De Change license, certain cryptocurrency operators;
    18. obscene material or pornography;
    19. certain sexually oriented materials or services;
    20. certain firearms, firearm parts or accessories, ammunition, weapons or knives; or
    21. any product or service that is illegal or marketed or sold in such a way as to create liability to Monnify.
  • relate to transactions that:
    1. show the personal information of third parties in violation of applicable law;
    2. support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs;
    3. are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card;
    4. pertain to ammunitions and arms; and
    5. involve gambling, gaming and/or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes unless the operator has obtained prior approval from Monnify and the operator and customers are located exclusively in jurisdictions where such activities are permitted by law.

Actions by Monnify

If, in our sole discretion, we believe that you may have engaged in any violation of this Acceptable Use Policy, we may (with or without notice to you) take such actions as we deem appropriate to mitigate risk to Monnify and any impacted third parties and to ensure compliance with this Acceptable Use Policy. Such actions may include, without limitation:

  • Blocking the settlement or completion of one or more payments;
  • Suspending, restricting or terminating your access to and use of the Monnify’s Services;
  • Terminating our business relationship with you, including termination without liability to Monnify of any payment service agreement between you and Monnify;
  • Taking legal action against you;
  • Contacting and disclosing information related to such violations to (i) persons who have sold/purchased goods or services from you, (ii) any banks or Card Networks involved with your business or transactions, (iii) law enforcement or regulatory agencies, and (iv) other third parties that may have been impacted by such violations; or
  • Assessing against you any fees, penalties, assessments or expenses (including reasonable attorneys’ fees) that we may incur as a result of such violations, which you agree to pay promptly upon notice.

Updates, Modifications & Amendments

We may need to update, modify or amend our Acceptable Use Policy at any time. We reserve the right to make changes to this Acceptable Use Policy.

We advise that you check this page often, referring to the date of the last modification on the page.