WELCOME TO SNAPPURSE

SnapPurse (“Platform”/ “App”) is a Quick Response (QR) payment solution developed by Sterling Bank Plc. (“Us, We, Our”).

The following Terms and Conditions (“Terms”) govern your access to and use of the Platform. Please read these terms carefully as access to, and use of SnapPurse’s services (“Services”), and Platform is conditional on your agreement to these Terms. You must read, agree with, and accept all the terms and conditions contained in these Terms. By signing up, or by using the Platform, you are bound to these Terms, and you indicate your continued acceptance of these Terms.

ABOUT SNAPPURSE

SnapPurse is a Quick Response (QR) payment solution that facilitates the receipt of payments through a QR code. The Platform is an easy to use, quick to launch payment receipt Platform that uses a static QR code to collect payment and can be used offline without internet connection. The Platform facilitates receipt of funds/payments from any Nigerian Quick Response (NQR) enabled bank App. You can use the Platform for the following services available as at the date of this document:

1. Receipt of payment/funds
2. Transfer of the received payment to any Bank account profiled on the Platform.

The benefits of the Platform include but is not limited to:

ACCESS TO THE SERVICE AND USE OF THE PLATFORM

To be eligible to use the Platform you must;

• Be 18 years or above. If you are under 18 and you wish to access or use the Services, your parents or legal guardian must consent to our Terms, otherwise, you shall immediately discontinue its use. We also reserve the right to discontinue your use of the Platform if you are less than 18 years and have not gotten the consent of your parents or legal guardian.
• Own a Nigerian bank account with any bank in Nigeria.
• Have access to a digital smart device e.g., an Android or Apple phone, iPad etc.

ACCOUNT ENROLLMENT

To access the Services on the Platform, first, you need to download the App from the google or Apple play store, then sign up on the App. You will need to sign up on the App with your google or Apple account then input your preferred username and create a password. Once you sign up on the App, you will be required to provide certain information (User Information) and follow the following steps to enable us validate your identity

• Input your registered Nigerian phone number.
• Input a one-time password (OTP) sent to the phone number provided.
• Select your Bank and input your bank account details.
• Take a picture!
• Upon completion of the above steps a Sterling merchant account is created for you

In exchange for your use of the Services. You agree to:

• Provide true, accurate, current and complete information about yourself.
• Each time you log on, maintain and promptly update such User Information to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or we have reasonable grounds to suspect that such Account information is untrue, inaccurate, not current or incomplete, we reserve the right to refuse any future request(s) to use the Services.

PAYMENT PROCESSING TERMS

The following steps details how a payment can be initiated and received by you on the Platform:

• Tap on the SnapPurse App to open the Platform.
• By default, the app would open to the QR code screen showing a static QR code and the Sterling Bank account for receipt of payment at the bottom of the Platform.
• A person initiating payment to you will scan the code generated by you on the Platform by using the NQR payment option on their NQR enabled Bank app.
• You will receive a pop-up notification on the App letting you know if the transaction was successful or not, followed by an email or SMS notification of a credit alert if the transaction was successful.
• Once payment is completed and received by you into your Sterling merchant account, you may initiate a funds transfer of the funds received to any bank account profiled on the Platform.
• Where the person initiating payment to you does not have a NQR enabled bank app, they can simply make a transfer to the account number displayed on the Platform and you will receive the funds within a few seconds.

Applicable Fees and transaction charges

We do not charge for the use of the Platform; however, your mobile network provider may charge you to access the App. You are responsible for the charges and fees charged by your mobile network provider to access and operate the App.
We may charge you a fee for payment transactions consummated on the App and for funds credit and debit notifications sent to your phone number via text messages facilitated by a mobile network provider.
The following charges/ fees apply to transactions initiated on the Platform, these charges should serve as a guide to you as to the charges that we may deduct for transactions initiated on the Platform, we may at our sole discretion amend these charges in line with regulatory policies, industry standards and market realities.

The applicable fees and charges are as follows:

• Less than NGN 250NGN 0.50
• NGN 250 – NGN 999NGN 1.00
• NGN 1,000 – NGN 4,999NGN 5.00
• NGN 5,000 and aboveNGN 25.00

The transaction fees stated above are exclusive of VAT which will be paid by anyone initiating a payment to you via the Platform.

Upon your account enrollment, you give us permission to deduct any fees/charges listed above or we communicate or notify you, on any transaction done on the Platform. If these fees change, you will be notified before initiating any transaction and given the option to discontinue the transaction.

Disputed or Failed Transactions

Resolution of all disputed or failed transactions will be handled by our customer success team. To initiate a transaction resolution process for a failed or disputed transaction, you can send us a message via the chatbot on the app, call us on 017004271 or send an email to hello@SnapPurse.ng and we will promptly handle your request and give you a feedback

Account Documentation and Transaction Limit

At onboarding on SnapPurse, a financial inclusion 1 account (Kia Kia account), designed for individuals with no documentation is opened for you. The account will have a daily single spend limit of N50,000 and daily deposit of N300,000 and will go into restriction thereafter, until the account is upgraded for you, when you the provide additional KYC documentation to be notified to you.

REPRESENTATIONS AND WARRANTIES

You represent and warrant that:

1. You have full power, capacity, and authority to access the Platform/use the Services;
2. The terms hereof do not violate any obligation by which you are bound, whether arising by contract or operation of law, or otherwise; and
3. You shall promptly notify us if any of your representations or warranties in this Agreement are no longer true or completely accurate.

USER’S RESPONSIBILITIES

We have compiled a list of things you need to do to help us keep your SnapPurse account safe:

1. It is your sole responsibility to keep your SnapPurse account safe: Security Details, PIN and any part of your account security should not be shared with anybody else or carelessly stored or disclosed under any circumstance.
2. If you leave your Electronic Access Device without logging out, write your PIN down in a public space or share your details with anybody, we will not be liable for any errors, or results that may come of it.
3. We will always use all reasonable efforts to keep the App and service safe, and your security settings will help us narrow it further down. However, if these issues arise due to carelessness with any part of your account security, there is very little we can do, and we will be relieved of any liability as regards the occurrence of a breach
4. If you believe or reasonably suspect that there is a fraudulent act, we haven’t caught it is your duty to notify us immediately. We will then investigate and report back to you through the most secure channel you provide to us.
5. You are required to change your security options if you believe any part of your security has been compromised.
6. Where you notify us of your intention to change your password, PIN or security options, we will, with your approval, delete these details and allow you set up new ones.
7. After initial sign up, we will not contact you (or ask anyone to do so on our behalf) with a request to disclose your log in details or transaction password/PIN. If you receive any such request from anyone (even if they are using our name and logo and appear to be genuine) then it is likely to be fraudulent and you must not provide your log in details to them under any circumstances. Also, you should report any such request to us immediately.

PROHIBITED USE

Below are examples of activities prohibited on the Platform. This list is not exhaustive, and we reserve the right to restrict access to and/or investigate any User who, in our sole discretion, violates any of the terms listed below:

1. Not to use your account in any manner that is misleading, fraudulent, or otherwise harmful to us, our service providers, and other customers.
2. Not to violate any law, regulation, industry requirement, or third-party guidelines or agreements related to the Platform by which you are bound.
3. Not to provide information or carry out transactions that are fraudulent, misleading, inaccurate, or dishonest.
4. Not to fund a ransom, human trafficking or exploitation, vigilantism, bribes or bounty.
5. Not to use, or misuse, the Platform in any way which may impair its functionality.
6. Not to use another person’s email address, identity or contact detail.
7. Not to copy, modify, translate, or otherwise create derivative works from any part of, or reverse engineer any part of the Platform (or attempt to do so, or assist anyone else to do so).
8. Not to sell, transfer, or assign any rights you have in relation to the Platform – this includes sharing your access or information from the Platform with any other person you are solely responsible for all activities that occur using your password and login whether or not you authorize the activity.

INTELLECTUAL PROPERTY

You agree that all intellectual property rights and database rights, whether registered or unregistered, in the Platform, information content on the Platform and all the website designs, including, but not limited to, text, graphics, software, photos, video, music, sound, and their selection and arrangement, and all software compilations, underlying source code and software shall remain at all times vested in us or our licensors. Use of such material will only be permitted as expressly authorized by us or our licensors.

Any unauthorized use of the material and content of this Platform is strictly prohibited, and you agree not to, or facilitate any third party to, copy, reproduce, transmit, publish, display, distribute, commercially exploit or create derivative works of such material and content.

DATA PROTECTION

• The Platform may be under constant upgrades, and some functions and features may not be fully operational during periods of upgrade or software maintenance.
• We disclaim any liability arising due to the vagaries that can occur in the electronic distribution of information.
• You acknowledge that third party services may be available on the Platform. We may have formed partnerships or alliances with some of these third parties from time to time in order to facilitate the provision of certain services to you. However, you acknowledge and agree that at no time are we making any representation or warranty regarding any third party's services, nor will we be liable to you or any third party for any consequences or claims arising from or in connection with such third party including, and not limited to, any liability or responsibility for, death, injury or impairment experienced by you or any third party. You hereby disclaim and waive any rights and claims you may have against us with respect to a third party’s services.
• We do not, in any way, endorse any information or service offered or described on the Platform. In no event shall we be liable to you or any third party for any decision made, or action taken in reliance on such information.
• You assume all responsibility and risk with respect to your use of the Platform. The services are provided and available “as is,” and “as available”. You understand and agree that, to the fullest extent permitted by law, we disclaim all warranties, representations and endorsements, express or implied, with regard to the Platform, including, without limitation, implied warranties of title, merchantability, non-infringement and fitness for a particular purpose.
• We do not warrant use of the Platform will be uninterrupted or error-free or that errors will be detected or corrected. We do not assume any liability or responsibility for any computer viruses, bugs, malicious code or other harmful components, delays, inaccuracies, errors or omissions, or the accuracy, completeness, reliability or usefulness of the information disclosed or accessed through the services.
• In no event, under no legal or equitable theory (whether tort, contract, strict liability or otherwise), shall we or any of our respective employees, directors, officers, agents or affiliates, be liable hereunder or otherwise for any loss or damage of any kind, direct or indirect, in connection with or arising from the use of the Platform/ services or our agreement with you concerning the services, including, but not limited to,

1. The use of or inability to use the Platform, the service, or the content
2. Any transaction conducted through or facilitated by the Platform.
3. Any claim attributable to errors, omissions, or other inaccuracies in the Platform, the service and/or the content,
4. Unauthorized access to or alteration of your transmissions or data, or
5. Any other matter relating to the Platform or the service and any compensatory, direct, consequential, incidental, indirect, special or punitive damages, lost anticipated profits, loss of goodwill, loss of data, business interruption, accuracy of results, or computer failure or malfunction, even if we have been advised of or should have known of the possibility of such damages.

AVAILABILITY OF SERVICES

• Whilst we use our best endeavor to ensure the Platform and Services are available optimally, we make no warranty that any part of the Platform will operate uninterrupted or error free and we accept no liability for loss or damage caused from any interruption or error on any part of the Platform.
• We do not guarantee secure, continuous, uninterrupted access to any part of the services, software, or systems, including any networks and servers used to provide any of the services stated herein. Accordingly, we are not responsible for the matters, which include actions of hackers and other unauthorized third parties that breach our reasonable security procedure. No method of electronic transmission or storage is 100% secure, therefore, we cannot guarantee absolute security of the Platform.
• We will also not be liable for any failure to provide Services, in part or full, due to abnormal or unforeseen circumstances beyond our control, the consequences of which would have been unavoidable despite all efforts to the contrary. This includes but is not limited to network failures, or in the case of mobile networks, when you are in not in an area of mobile coverage.
• We reserve the right to remove a service from the Platform with no obligation to give advance notice, and we shall not be liable for losses, costs or expenses arising from any such refusal or removal. You assume the risks associated with the use of the Platform.

DISCONTINUATION OF SERVICES OR YOUR ACCOUNT

We reserve the right to suspend your usage of the Platform or any of the Services immediately and without advance notice;

• In order to maintain security
• You have breached the terms and conditions.
• You give us false information at any time.
• We suspect fraud or an attempt at fraud.
• If there is suspicious activity on your account
• You have not satisfied any anti-money laundering and combating the financing of terrorism requirements.
• You have broken the law or attempt to break the law.
• We receive notice of your mental incapacity, bankruptcy or death.
• There are system maintenance issues which need to be addressed promptly.
• New upgrades are being introduced to the Platform.
• We have legal obligations to do so.

We will attempt to notify you, except it would compromise our security measures, or it is unlawful to do so, or impracticable within the circumstances. Suspension or discontinuation of your right to use the Service or Platform, shall not affect any outstanding obligation you owe us.

MODIFICATIONS TO THE TERMS

• We may change these terms from time to time. This is solely at our discretion and changes will be effective when posted on the Platform with no other notice provided.
  • Please check the Terms regularly for updates as changes shall be effective immediately.
  • We may indicate the date of such revision.
• We may change, suspend, or discontinue any aspect of the Services at any time.
  • We may also impose limits on certain services or restrict your access to parts or all of the Platform or the Services provided without notice or liability.
• You are free to decide whether or not to accept a revised version of these Terms.
  • Accepting these Terms, as revised, is required for you to continue accessing or using the Platform and Services.
  • If you do not agree to these Terms or any revised version of these Terms, your sole recourse is to terminate your access or use of the Services.
• Except as otherwise expressly stated by us:
  • Your access and use of the Services are subject to, and constitute your acceptance of, the version of these Terms in effect at the time of your access or use.

ADDITIONAL TERMS