PAYOPTION – TERMS OF SERVICE

Last Updated: 24th November, 2025

Welcome to PayOption (“we”, “us”, “our”). These Terms of Service (“Terms”) govern your access to and use of the PayOption mobile application, website, products, and services (collectively, the “Services”).
By creating an account, using our platform, or accessing any part of the Services, you agree to be bound by these Terms.

If you do not agree, do not use PayOption.

1. Eligibility

To use PayOption, you must:

Be at least 18 years old.
Have full legal capacity to enter into a binding agreement.
Provide accurate, complete, and up-to-date information during registration.
Comply with all applicable laws and regulations in your jurisdiction.

We may refuse service to anyone for any reason permitted by law.

2. Account Registration & Security

You are responsible for:

Maintaining the confidentiality of your login credentials.
All activities that occur under your account.
Keeping your personal and financial information updated.

You agree to notify us immediately of any unauthorized access or suspicious activity. PayOption is not liable for losses arising from compromised accounts where negligence is involved.

3. Description of Services

PayOption provides financial technology solutions, which may include:

Digital wallet and payment processing.
Money transfers.
Bill payments.
Merchant payment tools.
Virtual account or card services.
Financial reporting and transaction history.

Services available to you may vary depending on your region, verification level, and regulatory requirements.

4. Identity Verification (KYC)

To comply with financial regulations and anti-money laundering laws, we may require:

Government-issued identification
Address verification
BVN or equivalent identity checks
Additional documents when necessary

You authorize PayOption to verify your information through third-party verification partners.

Failure to complete KYC may lead to account restrictions or closure.

5. Permitted Use

You agree to use PayOption only for lawful purposes. You must not use the platform to:

Engage in fraud, scams, or deceptive practices
Launder money or finance terrorism
Violate sanctions or regulatory restrictions
Process transactions for illegal goods or services
Interfere with platform functionality
Create multiple accounts to abuse promotions

Violation may result in immediate account suspension or legal action.

6. Fees & Charges

PayOption may charge fees for certain services, including but not limited to:

Transaction fees
Withdrawal fees
Currency conversion fees
Chargeback or dispute fees
Account inactivity fees (if applicable)

All applicable fees will be displayed within the app or communicated prior to use.
Fees are subject to change with or without prior notice, in accordance with applicable law.

7. Transaction Limits

Your transaction limits may depend on:

Verification level
Transaction history
Risk assessment
Regulatory requirements

We may adjust your limits at any time for security or compliance reasons.

8. Refunds, Reversals & Chargebacks

Transactions completed on PayOption are generally final and cannot be reversed once processed.

Refunds or reversals may be granted only when:

Required by law
Initiated by the receiving party
A system error occurred
Chargeback investigations support your claim

PayOption is not responsible for:

Sending money to the wrong recipient due to user error
Transactions authorized with your PIN or password

9. Suspension & Termination

We may suspend or terminate your account if:

You violate these Terms
We detect suspicious or fraudulent activity
You fail identity verification
Required by law enforcement or regulators

You may also close your account at any time, provided no outstanding obligations remain.

10. Intellectual Property

All content, logos, software, trademarks, and materials on PayOption are the exclusive property of PayOption and its licensors.
You may not copy, modify, distribute, or reproduce any part of the Services without written consent.

11. Third-Party Services

PayOption may integrate with third-party partners such as:

Banks
Payment processors
KYC providers
Virtual card issuers

We are not responsible for the performance, policies, or errors of third-party services.

12. Privacy Policy

Your use of PayOption is also governed by our Privacy Policy, which explains how we collect, use, and protect your data.
By using the Services, you consent to our data practices.

13. Service Availability & Disclaimer

PayOption strives for uninterrupted service, but we do not guarantee:

Continuous or error-free access
That defects will always be corrected
That the platform is virus-free or secure
Real-time transaction processing

The Services are provided “as is” and “as available” without warranties of any kind.

14. Limitation of Liability

To the maximum extent permitted by law, PayOption will not be liable for:

Loss of profits
Loss of funds due to user negligence
Delays or failed transactions caused by third parties
Unauthorized access arising from your failure to secure your account
Indirect, incidental, or consequential damages

Our total liability for any claim shall not exceed the total fees paid by you in the 3 months preceding the claim.

15. Indemnification

You agree to indemnify and hold PayOption harmless from any claims, losses, damages, or expenses arising from:

Your misuse of the Services
Violation of these Terms
Infringement of third-party rights
Fraudulent or illegal activity

16. Governing Law & Dispute Resolution

These Terms shall be governed by the laws of Nigeria.

In the event of a dispute:

Parties will attempt amicable resolution first.
If unresolved, disputes will be handled through arbitration or a competent court in the designated jurisdiction.

17. Changes to These Terms

We may update these Terms at any time.
Continued use of the Services after changes take effect constitutes your acceptance.

18. Contact Information

For questions or support, contact us at:

PayOption Support Team
Email: support@payoption.ng
Phone: 09034969755
Website: www.payoption.ng