Terms of Service

Last updated: January 14, 2022

Please read these Terms and Conditions ("Terms", "Terms and Conditions", "Terms of Service") carefully before using the application (the "Service") operated by ("PayPeg", "PayPeg", "PayPeg App", "us", "we", or "our"). Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service. By accessing or using the service you agree to be bound by these Terms. If you use the service on behalf of your company, your company agrees to them too.

1. Eligibility

Using the PayPeg App requires that you’ll need to be at least 18 years old or the age of majority in your country. You’ll need to give us some more information about you, and we’ll need to be able to verify your identity. Certain features of the Service will only be available for use in Nigeria. Some features, such as buying airtime is only available in Nigeria, Ghana and the United States of America.

2. Transaction History

You can find your transaction receipts and account statements in the History section of your PayPeg App. Other transaction information such as adding money to your PayPeg balance will be emailed to you.

3. Transaction Error

Contact us if you see any errors or issues with your account along with a description of the process and timeline for us to look into your issue. Our contact information is in the support section of the app. You can also email our support team at help@paypeg.me. We will investigate within 10 business days after we hear from you and will correct any error promptly. If we need more time however, we may take up to 45 days to investigate your complaint or question.

4. PayPeg Tags

You may choose a unique username for PayPeg App, which will be your “PayPegtag” and must begin with the "$" sign. If you choose a PayPegtag that is too confusing or deceptive, we might require you to change it.

5. Sharing of Your Information

We will share Account Information and transaction information, including your name, the amount, and a description, with the other party to your transaction and in accordance with our Privacy Policy.

6. PayPeg Fees

The fee for using PayPeg is found in the "info" button when making international transfers and is displayed in a notification box when adding or withdrawing money from the PayPeg app. We reserve the right to charge for or change the fees associated with the use of PayPeg at any time subject to these Terms. A fee may be imposed by your bank or card for these transactions.

7. Funding Your PayPeg Balance

I. Eligible Bank Account. You may use funds from your Eligible Bank Account to fund your PayPeg App Balance.

II. Bank Transfers. You may direct payments from your bank account into your PayPeg App Balance using the bank details provided to you. Such Bank Transfers are governed by the terms and conditions provided by the applicable bank.

III. Debit Card. You may link a debit card to fund your PayPeg App Balance. To do so, you must have a valid debit card issued by your bank or financial institution bearing the Visa Inc. (“Visa”), MasterCard International Inc. (“MasterCard”) logo.

III. Mobile Money. You may direct funds from your eligible mobile money account to fund your PayPeg App.

IV. Access to Funds. Certain funding features (such as adding money, bank transfers and mobile money) may be unavailable or delayed from time to time due to risk-based restrictions, scheduled maintenance, changes to our Services, unforeseen circumstances, or outages.

8. Transferring Funds to Your Bank or Mobile Money Account

You can transfer funds from your PayPeg App balance to your eligible bank or mobile money account. These transfers can take up to one to five days. We may limit your ability to transfer funds to your bank account, based on some circumstances. For instance, we may delay transfers while we screen for fraud or risks. You are responsible for all amounts owed on your account even after it is closed. We will settle these electronic transfers via flutterwave in the amount you instruct, and you will not be able to cancel the transfer. Such transfer to your Eligible Bank or Mobile Money Account will typically arrive within one to five business days.

9. Limitations

PayPeg may limit how many transfers you can initiate from your PayPeg App to your Eligible Bank or Mobile Money Account and the amount of funds you can transfer in a single transaction. We reserve the right to delay or further limit such transfers while we screen for risk, or we may request you provide additional information to verify your identity. You may not transfer funds from your PayPeg App Balance to your Eligible Bank or Mobile Money Account to evade a payment investigation. If you attempt to transfer your PayPeg App Balance while we are conducting an investigation, we may hold your funds at our discretion to protect PayPeg or a third party against the risk of reversals, chargebacks, claims, fees, fines, penalties and other liability. We also may defer or redirect payout or restrict access to your funds as necessary to comply with applicable law, subpoena or court order, or if requested by any governmental entity. You will remain liable for all obligations related to your Account even after the Account is closed.

10. Interest

You will not receive interest on the funds that you have in your PayPeg balance. You agree that you will not receive interest on or other monies derived from the funds that PayPeg handles.

11. Sending Funds

The peer-to-peer Service (“Peer-to-Peer Service”) allows you to send funds or receive funds for peer-to-peer personal, non-commercial purposes. You agree that we shall incur no liability if we are unable to complete any transaction because of: (i) insufficient funds in your Eligible PayPeg Account; (ii) malfunction of the Peer-to-Peer Service due to circumstances beyond our control or due to circumstances that you were already aware of at the time you initiated your Payment Instruction; (iii) inaccurate or insufficient Payment Instructions from the sender or recipient; or (iv) either the sender or the recipient does not provide us with any information that we request, or we are unable to verify your identity or the identity of the recipient to our satisfaction.

12. Requesting Funds

You may also request funds to be transferred to you through the Service by specifying the amount of funds requested and your selected Sender. If the Sender approves your Request, it will become the Sender’s Payment Instructions and be processed as described in these Terms.

13. Receiving Funds

Any P2P Payment you receive via the Peer-to-Peer Service will be stored in your PayPeg App Balance.

14. Payment Amount Limits

Senders may not send more than one thousand dollars ($1,000) or its equivalent in any one transaction or in multiple transactions over any seven (7) day period. We may adjust these limits at any time in our discretion.

15. Service/Transaction Fees

Sending money to other PayPeg users in the same country (local transactions) is currently free, but we can charge fees in the future. The fee for sending funds through the PayPeg App will be displayed at the time of the transaction. We reserve the right to charge for or change the fees associated with use of the App at any time subject to these Terms.

16. Payment Cancellation, Stop Payment Requests and Refused Payments

Our ability to stop a P2P Payment Instruction or recover funds associated with an unauthorized Payment Instruction will depend on how the Payment Instruction was initiated, and whether the Payment Instruction has begun processing. We will attempt to return any unclaimed, refused, refunded, prohibited, or denied P2P Payment to your Eligible Transaction Account, as applicable. If we are not able to do so, we may use other reasonable means to return the P2P Payment to you, as permitted by applicable law.

17. Invalid P2P Payments

If we believe you received a payment that should not have been made for some reason, you give us permission to reverse that payment. We are not responsible for any payments that you receive, even if you don’t know who sent the payment.

18. Risk of Fraudulent Transactions

The Peer-to-Peer Service is a money transmission service. As a result, fraudulent transactions may result in the loss of funds with no recourse.

19. Termination of Account

PayPeg may terminate, close, or suspend your Account or use of the Service at any time if after investigations and your account is found violating any of our rules for any reason. Any such termination does not relieve you of any of your obligations to PayPeg under these Terms and any amounts owed to us as provided in these Terms, the General Terms, or any other agreement you have with us. We will not be responsible for any loss, damage, harm or consequences, including any delay or inconvenience you may suffer as a result of our exercise of our rights under this section.

20. Limitations on Use

You will use PayPeg legally and in accordance with debit and credit card network rules. You agree to not abuse the payment system or the service. We may block or reverse any transaction, including those that violate our terms or the law, at your expense. You agree that you are independently responsible for complying with all applicable laws in all of your activities related to your use of the Service and for all communications you send through the Service. We reserve the right to block, refuse, or reverse any transaction, in our sole discretion. We will notify the affected parties promptly if we decide to do so, but notification is not required if the transaction is prohibited by these terms or applicable law. Neither we nor third parties to whom we assign or delegate rights or responsibilities will be liable for any claims or damages resulting from prohibited transactions. All costs for research and resolution for any misapplied, misposted or misdirected prohibited transactions will be your sole responsibility and not ours.

21. Limitations on Our Liability for Failure to Complete Transactions

We will not be liable, for failure to complete transactions in the following circumstances:
(a) Through no fault of ours, there are insufficient funds in your PayPeg App Account to complete the transaction;
(b) The information supplied by you is incorrect, incomplete, ambiguous or untimely;
(c) Access to funds in your PayPeg App Account have been blocked;
(d) The transaction cannot be completed because your debit/credit card is damaged;
(e) There is a hold or your funds are subject to legal or administrative process or other encumbrance restricting their use;
(f) We have reason to believe the requested transaction is unauthorized;
(g) Circumstances beyond our control (such as fire, flood, power failure, strike, labor dispute, critical service provider failure, computer breakdown, telephone line disruption, government or regulatory action, or a natural disaster) prevent or delay the completion of the transaction, despite reasonable precautions that we have taken; or
(h) Any other exception stated in our Agreement with you.

22. Referral Programs

We may often offer referral programs or incentives for inviting others to use the Service (a “Referral Program”). Any bonuses or incentives under such Referral Program shall be subject to the then current Referral Program terms, if applicable, and otherwise at our sole discretion. Our referral programs may be terminated at anytime for any reason.

23. Verified PayPeg Accounts

An account with a blue check mark badge next to the account's name means PayPeg has confirmed that the owner of said account is the authentic presence of the public figure, celebrity, or global brand it represents.
An account may be verified if it's of public interest, such as a celebrity or global brand. We are not accepting requests to verify PayPeg accounts at this time. If for any reason PayPeg finds a verified account abuse its verification priviledges, its verification will be lost.

24. Compliance with Governmental Authorities

PayPeg may freeze, withhold, or remit funds in your Account in response to a facially valid subpoena, court order, search warrant, or other binding order from a governmental authority, including but not limited to tax levies or wage garnishment orders.