Terms of Service

These Terms of Service ("Terms") constitute a legally binding agreement between KATSOFT LIMITED (Company Registration Number: RC 8852192), operating as "Katpay", and you (the "Merchant" or "you") concerning your access to and use of our payment gateway services.

By registering for a Katpay account, integrating our APIs, or using any of our services, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree to these Terms, you must not access or use our services.

For the purposes of these Terms:

• "Services" means all payment processing services, APIs, virtual accounts, and related features provided by Katpay.
• "Platform" means your website, mobile application, or other digital channel integrated with Katpay.
• "Transaction" means any payment (pay-in or pay-out) processed through Katpay's platform.
• "Customer" means your end-users who make payments through your Platform using Katpay.
• "Merchant Account" means your Katpay account used to receive and manage payments.
• "Virtual Account" means dedicated bank account numbers generated by Katpay for receiving payments on your behalf.
• "Settlement" means the transfer of funds from your Merchant Account to your designated bank account.

3.1 Eligibility Requirements

To use Katpay services, you must:

• Be a registered business entity in Nigeria with a valid CAC registration
• Be at least 18 years old (for individual business owners)
• Provide accurate and complete business information
• Comply with all applicable Nigerian laws and regulations
• Not be engaged in any prohibited business activities (see Section 8)

3.2 Account Verification (KYC)

You must provide the following information for verification:

• Valid government-issued ID (BVN, NIN, or International Passport)
• CAC Certificate of Registration
• Business address verification documents
• Bank account details for settlements
• Business contact information (email, phone number)

Katpay reserves the right to request additional documentation and conduct background checks to comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.

4.1 Payment Processing Services

Katpay provides the following services:

• Virtual Accounts: Static dedicated bank accounts for receiving payments from Customers
• Pay with Transfer: Dynamic virtual accounts generated for individual transactions
• Pay with Card: Credit and debit card payment processing
• Pay with Wallet: Direct payments from PalmPay wallet users
• Pay with USSD: USSD code-based payment collection
• Pay Out Services: Single and bulk disbursements to recipients

4.2 API Integration

You may integrate Katpay's payment APIs into your Platform. You must ensure that your integration complies with our API documentation and security standards. Katpay is not responsible for errors arising from improper implementation of our APIs.

5.1 Transaction Fees

The following fees apply to transactions processed through Katpay:

• 0.5% capped at ₦500 per transaction (for daily transaction volumes ≤ 5,000)
• 0.4% capped at ₦200 per transaction (for daily transaction volumes > 5,000 but ≤ 20,000)
• 0.3% capped at ₦100 per transaction (for daily transaction volumes > 20,000)

All fees are exclusive of VAT and will be charged at the prevailing VAT rate.

5.2 Fee Deduction

Transaction fees are deducted at source before settlement into your Merchant Account. You will receive the net amount (transaction amount minus fees).

5.3 Fee Changes

Katpay reserves the right to modify fees at any time. We will provide at least 30 days' notice before implementing any fee increases. Continued use of our services after fee changes constitutes acceptance of the new fees.

6.1 Settlement Timeline

Settlements are processed on a T+1 basis, where T is the transaction date and +1 is the next business day. Funds will be transferred to your designated bank account within one business day after a successful transaction.

6.2 Settlement Bank

You must provide valid Nigerian bank account details for settlement. If your settlement bank differs from our default settlement partner, additional inter-bank transfer fees may apply and will be deducted from your settlement amount.

6.3 Withheld Settlements

Katpay may withhold settlements in the following circumstances:

• Suspected fraudulent transactions or unusual activity
• Pending dispute resolution or chargeback investigation
• Non-compliance with these Terms or applicable laws
• Court orders or regulatory directives

As a Merchant using Katpay services, you agree to:

• Comply with all applicable Nigerian laws, including CBN regulations, AML/CFT laws, and data protection laws
• Maintain accurate records of all transactions for at least 10 years
• Provide clear product/service descriptions and pricing to Customers
• Honor all valid transactions and deliver purchased goods/services
• Notify Katpay within 24 hours of any security breaches or data compromises
• Keep your account information up-to-date and accurate
• Not use Katpay for illegal, fraudulent, or unauthorized transactions
• Implement proper security measures on your Platform
• Cooperate with Katpay in dispute resolution and fraud investigations
• Provide customer support for payment-related inquiries

You may not use Katpay services for the following purposes:

• Illegal goods or services (drugs, weapons, counterfeit items)
• Adult content or services
• Gambling or betting services (unless properly licensed)
• Ponzi schemes, pyramid schemes, or multi-level marketing
• Money laundering or terrorist financing
• Cryptocurrency trading or exchange services
• Unauthorized financial services or lending
• Sale of tobacco, alcohol without proper licensing
• Any activity that violates Nigerian laws

9.1 Refund Processing

Refunds will be processed within 15 business days from the date you initiate the refund request. Refunds will be returned to the original payment source, and transaction fees will not be refunded.

9.2 Unauthorized Transactions

You must cooperate with Katpay to reverse any unauthorized, fraudulent, or erroneous transactions. Refunds for such transactions will be processed after joint reconciliation and investigation.

9.3 Chargebacks

In the event of a chargeback, Katpay will notify you and deduct the chargeback amount (plus any applicable fees) from your Merchant Account or future settlements. You are responsible for providing evidence to dispute chargebacks within the timeframe specified by Katpay.

Both parties will comply with the Nigeria Data Protection Act (NDPA) 2023, Nigeria Data Protection Regulation (NDPR) 2019, and the General Application and Implementation Directive (GAID) 2025.

You acknowledge that Katpay may collect and process personal data of Customers for the purpose of providing payment services. Our Privacy Policy governs how we collect, use, and protect personal data.

You must implement appropriate security measures to protect Customer data and notify Katpay immediately of any data breaches.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, KATPAY SHALL NOT BE LIABLE FOR:

• Indirect, incidental, special, or consequential damages
• Loss of profits, revenue, or business opportunities
• Service interruptions due to force majeure events
• Errors or delays caused by third-party service providers (banks, payment networks)
• Losses arising from your failure to secure your account credentials
• Disputes between you and your Customers

Our total liability for any claim arising from these Terms shall not exceed the fees paid by you to Katpay in the 3 months preceding the claim.

12.1 Termination by You

You may terminate this agreement at any time by providing 60 days' written notice to Katpay at support@katpay.co.

12.2 Termination by Katpay

Katpay may suspend or terminate your account immediately if:

• You violate these Terms or applicable laws
• We detect fraudulent or suspicious activity
• You engage in prohibited business activities
• Your account poses a risk to Katpay or our partners
• Required by law or regulatory authorities

12.3 Effects of Termination

Upon termination, all pending transactions will be completed, and your remaining balance will be settled to your designated account within 30 days after final reconciliation, subject to any holds for disputes or chargebacks.

13.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

13.2 Dispute Resolution

Any dispute arising from these Terms shall first be resolved through good-faith negotiation within 30 days. If negotiation fails, the dispute shall be submitted to arbitration under the Arbitration and Mediation Act 2023 before a single arbitrator appointed by the Chartered Institute of Arbitrators (CIArb), Nigeria Branch.

The arbitration shall be conducted in Lagos, Nigeria, in the English language. The arbitrator's decision shall be final and binding on both parties.

For questions about these Terms of Service, please contact us at: