Terms and Conditions

Last Updated: December 13, 2021


These Terms and Conditions (T&Cs) of Use govern your access to, and use of Vendy for licensed Payments Service Providers. By continuing usage of the Vendy services, you consent to be bound by these T&Cs for use of and access to the Vendy services. You need to understand each clause of the rules set out in this document. You are required to keep these rules as they constitute a binding agreement between you and Vendy.


I (“Customer”) confirm and agree that the following terms and conditions shall govern my use of the vendy platform and services.
2.2 By clicking on the “I AGREE” button or a similar affirmation, or by acknowledging acceptance of these Terms and Conditions by any other method allowed by vendy and Payments Service Providers, or by using or accessing the vendy Services through any means permissible including, without limitation via a computer or a mobile application, Customer acknowledges and agrees that: (i) it has reviewed and understands these Terms and Conditions; (ii) it agrees to be legally bound by these Terms and Conditions; and (iii) its use of the vendy Services and any related products or services will be governed by these Terms and Conditions.
2.3 If Customer does not agree or is not willing to be bound by these terms and conditions, Customer should not click on the “I AGREE” button and should not seek to obtain or use the vendy Services.


By accepting these Terms and Conditions, Customer represents and warrants that:
(a) the Customer or the person agreeing to these Terms and Conditions on behalf of Customer is 18 years of age or older
(b) all information you have provided to your bank or third party who enrolled you or signed you up for the vendy service is true and correct in all respects, and
(c) you will update your bank or third party who enrolled you or signed you up for the vendy service with any changes to information you have previously supplied.
(d) Customer further represents and warrants that Customer has the legal authority to accept these Terms and Conditions and that such acceptance will be binding on Customer. vendy reserves its right, in its sole discretion, to refuse to provide Customer with the vendy Service if Customer is in breach of any provisions of these Terms and Conditions.


Use of the vendy platform or services constitutes acceptance of these vendy Terms and Conditions of Use as may be amended from time to time.


When you initiate and confirm a transaction using the vendy services or platform, you agree to be bound by and pay for that transaction. Do not commit to a transaction unless you are ready to pay and have confirmed that all information provided is accurate as all completed transactions are final.
5.2 To prevent financial loss or possible violations of the law, vendy reserves the right to use its discretion in disclosing details of any payments associated with you to payment service providers, law enforcement agencies, or impacted third parties (including other users). Such disclosures may originate from an order of any trial court with the jurisdiction to compel such a disclosure.
5.3 You agree and confirm that you will not use this vendy services for money laundering, terrorism and any illegal activities or violate any law related to such.
5.4 vendy reserves the right to demand explanation(s) from you regarding any matter pertaining to the law(s) of Nigeria relating to 5.4.
5.5 Normal SMS charges or other charges for services (if applicable) by the Mobile network operators may be applied for each transaction conducted via vendy services or platform.


You consent to us carrying out identity and fraud prevention checks and sharing information relating to the vendy services with the Nigerian Police or any fraud prevention, law enforcement or security agency.
10.2 You consent to us providing details to the Nigerian Police or any fraud prevention, law enforcement or security agency, of any conduct on your account that gives reasonable cause to suspect that the vendy service or platform is being used for improper purposes.
10.3 You understand and agree that the record of this suspicion will then be available to other members of the Nigerian Police or any fraud prevention, law enforcement or security agency.


You may terminate this agreement by giving notice to your bank or the third party who enrolled you or signed you up for the vendy service.


Customer represents and warrants that at all times during the term of these Terms and Conditions:
12.1 all representations and statements made by you to your bank or third party who enrolled you or signed you up for the vendy service is true and correct in all respects, or in any other document relating hereto by you or on your behalf, are true, accurate and complete in all material respects Customer is engaged in a lawful business and has all necessary rights and authorizations to sell and distribute its products and/or services;
12.3 Customer will comply, at Customer’s own expense, with all laws, policies, guidelines, regulations, ordinances or rules applicable to Customer, these Terms and Conditions, End User data or the vendy Platform or services, including, without limitation: (a) the Payment Network Rules; (b) the Payment Card Industry Data Security Standard(c) any regulatory body or agency having jurisdiction over the subject matter hereof; and (d) the Services Documentation


Customer must select an ID and password to enable Customer to access Customer’s payment gateway account and use vendy Services. Customer will restrict access to such ID, password, and account to Customer’s employees and agents as may be reasonably necessary consistent with the purposes of these Terms and
Conditions and will ensure that each such employee and agent accessing and using the account is aware of and otherwise complies with all applicable provisions of these Terms and Conditions regarding such use and access.
9.2 Customer is solely responsible for maintaining adequate security and control of any and all IDs, passwords, or any other codes for purposes of giving Customer access to the Transaction Services. vendy shall be entitled to rely on information it receives from Customer where such information contain with valid IDs and passwords/PINs and may assume that all such information was transmitted by or on behalf of Customer.
9.3 Customer shall comply with all NIBSS


Customer agrees that vendy owns and retains all right, title and interest in and to the vendy Trademarks, vendy Services, copyrights and any related technology utilised under or in connection with the mCASH services, including but not limited to all intellectual property rights associated therewith.
10.2 No title to or ownership of any of the foregoing is granted or otherwise transferred to Customer or any other entity or person under these Terms and Conditions. Customer will not reverse
engineer, disassemble, decompile or otherwise attempt to discover the source code or trade secrets for any of the vendy Services or related technology.


Under no circumstances will vendy or any of its parents, affiliates or vendors (or any officers, directors, employees or agents of the parties, or its parents, affiliates or vendors) be liable for any indirect, incidental, consequential, special or exemplary damage or loss suffered or incurred by Customer, regardless of the form of action, or any loss of revenue, profits or business, anticipated savings, loss of goodwill or reputation, costs of delay, lost or damaged data, or the incurring of liability for loss or damage of any nature whatsoever suffered by third parties, all whether in contract, strict liability or tort (including negligence), regardless of whether it has been advised of the possibility of such damages.
11.2 The vendy services are provided on an “as is,” “as available” basis without any representations or warranties. vendy does not represent or warrant that the vendy services will be uninterrupted, timely, secure, accurate, complete, or entirely error-free.
11.3 Customer may not rely upon any representation or warranty regarding the transaction services by any third party in contravention of the foregoing statements.
11.4 Customer understands and agrees that vendy shall bear no risk with respect to customer’s sale of products or services.


In connection with the exercise of Customer’s rights and obligations under these Terms and Conditions (including, without limitation, any related to individual privacy), Customer will comply, at Customer’s own expense, with all laws, policies, guidelines, regulations, ordinances, rules applicable to Customer, these Terms and Conditions, End User data or transactions conducted on the Vendy platform or services and/or orders of any governmental authority or regulatory body having jurisdiction over the subject matter hereof.
12.2 Customer shall not use the Vendy Services in any manner, or in furtherance of any activity that may cause Vendy to be subject to investigation, prosecution, or legal action.


We reserve the right to, at any time, amend these Terms and Conditions by notice and any such amendment will be deemed not constituting a violation of these Terms and Conditions.
13.2 We will not be responsible to you for any indirect consequential or special damages arising from any act or omission by you or any third party for whom you are responsible for and whether arising in contract, statute or tort.
13.3 You are responsible for your connection to the internet and all costs associated with that same connection.
13.4 These Terms and Conditions shall be in addition to and not in derogation from the regulations, circulars, orders, notifications, instructions issued by Central Bank of Nigeria (CBN) from time to time, including any Mobile Banking Regulations (hereinafter collectively referred to as the “Regulations”).
13.5 We may retain the details of transactions or payments you make via Vendy platform or services after the transaction is completed. This information will only be made available to third parties if required by law.
13.6 You agree that your Unique Information, including your personal information, and your transactions on the Vendy platform or services may be recorded and stored for record keeping purposes for up to seven (7) years from date of closure of account;
or any other length of time as required by law.
13.7 Words and phrases with initial letters capitalized and not otherwise defined herein shall have the meaning set forth in Section 23.

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