Terms and Conditions
Welcome to V-Xpress (ValiPay). These Terms and Conditions ("Terms") are between you (“Users”) and V-Xpress. It governs your access to and use of the V-Xpress application, website, services, and tools (collectively, the "Services") provided by V-Xpress NIG LTD ("Company", "we", "us", or "our").
Your registration, access or use of these Services signifies your agreement and consent to be bound by these Terms and our Privacy Policy. Should you not agree to these terms, kindly refrain from using the Services.
1. Definitions
Escrow: A financial arrangement where a third party holds and regulates funds until the completion of a transaction between two parties.
Buyer: The user who is purchasing goods or services.
Seller: The user who is providing goods or services.
Disbursement: Release of funds from escrow to either the buyer or seller upon successful transaction or resolution.
Dispute: A disagreement raised by either party regarding the transaction.
2. Eligibility/Capacity to enter into these Terms and Condition
You warrant to us that you have the required legal capacity to agree and be bound by these terms and conditions.
To use our Services, you must: (a) be a Nigerian citizen (or a legal resident) of not less than 18 years of age, (b) have full legal capacity to enter into a binding agreement, (c) provide accurate registration and verification information as required.
We reserve the right to refuse access to the Services to anyone for any reason at any time.
3. User Account and Security
You must register and create an account with a valid name, email, phone number, necessary bank details and other required information or such other information that we may request from time to time.
You are responsible for maintaining the confidentiality of your account credentials.
You must take all reasonable precautions to keep safe and prevent fraudulent use of your devises and security information.
You agree to promptly notify us of changes to your user information by updating such information on our platforms.
You agree to notify us immediately of any unauthorized use of your account.
Without limiting the foregoing, you agree not to (and not to allow any third party to): (a) use any robot, spider, scraper, or other automatic or manual device, process, or means to access the Services or copy any content, except as expressly authorized by us; (b) take any action that imposes or may impose (in our sole determination) an unreasonable or a disproportionately large load on the Services or our infrastructure; (c) utilize any device, software, or routine that will interfere or attempt to interfere with the functionality of the services; (d) rent, lease, copy, provide access to, or sublicense any portion of the Services or content to a third party; (e) use any portion of the Services or Content to provide, or incorporate any portion of the services or content into, any product or service provided to a third party; (f) reverse engineer, decompile, disassemble, or otherwise seek to obtain the source code of the Services or Content; (g) modify the services or content or create any derivative product from any of the foregoing; (h) remove or obscure any proprietary or other notices contained in the Services or Content; (i) use the Services or content in any way that is illegal, harmful, fraudulent, deceptive, threatening, harassing, defamatory, obscene, or otherwise objectionable, as we may determine in our sole discretion; (j) jeopardize the security of your V-Xpress Account or any other person’s V-Xpress Account (such as allowing someone else to use your username and password to access the Services); (k) attempt, in any manner, to obtain the username, password, account, or other security information from any other user of the Services; (l) violate the security of any computer network or crack any passwords or security encryption codes; or (m) run any form of auto-responder or "spam," or any processes that run or are activated while you are not logged in to access the Services.
We may but are not obliged to monitor your use of the services and content.
4. Escrow Process
Transaction Initiation: the Buyer initiates a transaction and agrees to fund it through escrow.
Funds are securely held in a designated escrow account until completion.
Delivery and Confirmation: the Seller delivers the agreed goods or services. The Buyer confirms delivery and satisfaction.
Disbursement: upon confirmation, we release funds to the Seller deducting applicable fees.
Disputes: either party can raise a dispute within a window of 7days from the transaction date. We will mediate the dispute and determine the final resolution.
5. Fees and Charges
Service fees and charges are applicable per transaction and are displayed at the time of transaction initiation.
You agree that all fees and charges are final, non-cancellable and non-refundable unless otherwise stated.
We may from time to time upon 10 (ten) business days prior written notice to users, vary applicable fees and charges subject to regulations and money market conditions. Such changes will be communicated either directly to the buyers and sellers or via a general notice to all Users.
6. KYC and MLPA, AML/CFT Compliance
You acknowledge that we are committed to complying with Know Your Customer (KYC) laws and regulations, The Money Laundering (Prevention and Prohibition) Act 2022, and the Central Bank of Nigeria (Anti-Money Laundering and Combating the Financing of Terrorism in Banks and other Financial Institutions in Nigeria) Regulations 2013.
Users will be required to submit identification documents, such as a valid government issued ID, utility bill, or business registration documents for corporate entities.
For our compliance purposes, to enhance due diligence and in order to provide the services to you, you hereby authorize us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and Bank Account information. When you register for the Services and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you such as; a copy of your government-issued photo ID, such as a passport or driver’s license; a copy of a utility bill, bank statement, affidavit, or other bill, dated within three months of our request, with your name and Nigerian street address on it; and such other information and documentation that we may require from time to time.
We reserve the right to: (a) delay or withhold fund disbursements pending identity verification (b) report suspicious activities to the relevant regulatory authorities, (c) suspend or terminate accounts that fail to comply with KYC, MLPA and AML/CFT requirements.
Failure to provide accurate and verifiable information may result in restricted access or account termination.
7. Prohibited Activities
Users must not: (a) use the platform for illegal transactions or unlawful purposes, (b) use false identity, impersonate any entity or provide false or misleading information, (b) violate national or international applicable laws, regulations or sanctions, (c) attempt to bypass our security or verification processes, (d) engage in money laundering, terrorism financing or any other criminal activities.
8. Third-Party Services
Our Services may integrate with or rely on third-party platforms, such as: (a) payment processors, (b) Identity verification providers, (c) cloud infrastructure services.
You acknowledge that: (a) we are not responsible for the performance, availability, or legal compliance of third-party services, (b) your use of such services may be subject to additional terms and privacy policies provided by those third parties.
9. Application Programme Interface (API) Access and Usage
If you are granted access to our API: (a) you must use it in accordance with our API Documentation and guidelines (b) API access is subject to approval, rate limits, and security reviews.
You shall not: (a) reverse-engineer, decompile, or misuse the API, (b) use the API for activities that violate these Terms or applicable law, (c) resell or license the API without our prior written consent.
We reserve the right to revoke API access at any time for misuse or security concerns.
10. Dispute Resolution
If a dispute arises between a buyer and a seller: you must first attempt direct resolution. If unresolved, you may escalate to our support within 7 (seven) days from transaction date. We will investigate and may require evidence (e.g., communication records, delivery proofs etc). Our resolution decision regarding escrow funds is final and binding.
11. Limitation of Liability
To the fullest extent permitted by applicable law, you agree that V-Xpress, its affiliates and their respective employees, officers, directors, shareholders, consultants, agents, and third-party service providers will not be liable to you or any third party for, Including and without limitation to: (a) goods or services exchanged between users. (b) the quality or delivery of goods/services exchanged (c) the performance of the services or the inability to use the services; (d) any indirect, incidental, special, consequential, punitive, or exemplary damages, whether based in contract, tort, or otherwise, including, but not limited to, damages for loss of profits, arising from disputes, goodwill, use, data, or other intangible losses, even if such persons have been advised of the possibility of such damages, which arise out of or are in any way connected with these terms, the services, or content; (e) unauthorized access resulting from compromise of Users access codes (f) any amount, in the aggregate, in excess of the greater of 20,000 naira or the amount transferred from your debit card to your V-Xpress account via the services; or (f) any event beyond our reasonable control.
12. Indemnity
At our request, you agree to defend, indemnify, and hold harmless V-Xpress, its affiliates, and its and their respective employees, officers, directors, agents, and third-party service providers from and against any and all claims, suits, liabilities, damages (actual and consequential), losses, fines, penalties, costs, and expenses (including reasonable attorneys’ fees) arising from or in any way related to any third-party claims relating to your use of the Services, violation of these Terms, applicable law or any third-party rights, or your fraud or willful misconduct. Such indemnified parties reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defenses.
13. Warranties and Representations
To the fullest extent permitted by applicable law and except as otherwise expressly provided in these terms, you expressly understand and agree that your use of the services and all information, products, and other content (including that of third parties) included in or accessible from the services is at your sole risk. The services are provided on an "as is" and "as available" basis without any warranty of any kind. To the maximum extent permitted by applicable law, we and our third party service providers expressly disclaim any and all conditions, representations, and warranties of any kind as to the services and all information, products, and other content (including that of third parties) included in or accessible from the services, whether express, implied, statutory, or otherwise, including, but not limited to, any implied warranty of merchantability, fitness for a particular purpose, and non-infringement, compatibility, security and accuracy.
Without limiting the foregoing, we and our third-party service providers make no warranty that (a) the services will meet your requirements, (b) the services will be uninterrupted, timely, secure, or error-free, (c) the results that may be obtained from the use of the services will be accurate or reliable, (d) the quality of any products, services, information, or other material purchased or obtained by you through the services will meet your expectations, or (e) any errors in the services will be corrected. No oral or written information or advice obtained by you from us or our third party service providers through or from the services will create any warranty not expressly stated in these terms.
Any material downloaded or otherwise obtained through the services is done at your own discretion and risk, and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material.
14. Termination and Suspension
We reserve the right to terminate or suspend your account: (a) If you violate or breach a material term of these terms and condition or applicable laws, (b) If we suspect your account is being used for an illegal or fraudulent activity, or we have reasonable grounds to suspect fraudulent use of your security details or we have reasonable grounds for believing you have committed or about to commit a crime in connection with your account, or we suspect there has been suspicious activity on your account, (c) If you stop holding any account in respect of which V-Xpress services may be used, (d) If required by law enforcement or regulatory authorities.
We reserve the right to freeze or withhold funds in cases of suspected fraud, disputes or legal order.
15. Privacy
We take the privacy of Users seriously. You understand that by using the services, you consent to the collection, use, storage and disclosure of your information as set further in these terms and condition and our privacy policy.
16. Intellectual Property
All content, software, trademarks, and features are owned by V-Xpress NIG LTD or its licensors. We expressly reserve all rights and remedies under applicable laws. Except as expressly provided by these terms or with our prior written consent, you may not use, reproduce, modify, decompile, reserve engineer, distribute, rent, sell, license, publish, display, download, transmit or otherwise exploit any content, in any form, by any means
17. Modifications
We may amend, revise, update or modify these Terms from time to time in accordance with the provisions of the law and you agree to be bound by the version of the terms and condition that exist at the time you access V-Xpress. Notice of material changes will be communicated to users via the app or email address. Continued use after updates indicates your acceptance of the revised Terms.
18. Notice
You permit us to issue notices required in terms of these terms and conditions, legislations or regulations by making such notification available via our communication system. Any notices so issued by us, will as far as they contain contractual terms relating to V-Xpress, also form part of these terms and conditions.
19. Governing Law and Jurisdiction
These Terms are governed and construed in accordance with the laws of the Federal Republic of Nigeria without reference to any conflict of law provisions, and any dispute arising therefrom shall be determined in accordance with such laws.
20. Contact Information
If you have any question, comments or concerns regarding these terms or the services, please contact us at:
Support Email: [email protected]
Phone: +234 706 391 2506
By registering or using the services, you acknowledge that you have read, understood, and agreed to be bound by these Terms and Conditions.