TERMS OF SERVICE

"Company", "we", "our", or "us" means SpectraPay, operated by Spectra Technologies Limited, its affiliates, and subsidiaries.

"Services" means the wallet funding, bill payment, bank withdrawal, gift card redemption and trading (once made available), and related services available through the SpectraPay platform.

"User", "you", or "your" means the individual accessing or using the Services.

"Funding Methods" means the bank transfer, debit/credit card, and other means through which a User may fund their SpectraPay wallet.

"Gift Card" means a prepaid card, voucher, or code issued by a third-party merchant or brand that a User submits to SpectraPay for redemption or trade.

"AML" means anti-money laundering; "CFT" means counter-terrorism financing.

These Terms are supplemented by and incorporate by reference our Privacy Policy, AML/CFT Policy, and any other notices or guidelines issued by us from time to time.

SpectraPay provides Services including but not limited to: funding your SpectraPay wallet via bank transfer or card payment, NGN wallet management, bank withdrawals, bill payments (airtime, data, electricity, cable TV, education), internal transfers between SpectraPay users, and, once made available in the app, redemption and trading of Gift Cards.

We reserve the right to modify, suspend, or discontinue any Service at our sole discretion without liability to you.

To access the Services, you must register an account and provide accurate, complete, and current information. You are responsible for safeguarding your login credentials and transaction PIN.

Any activity conducted under your account shall be deemed authorized by you. You must not share your account credentials with any third party.

You agree not to circumvent, disable, or interfere with the security or integrity of the Services. We may restrict or suspend access if we suspect unauthorized use, fraud, or breach of these Terms.

Use of the Services is limited to natural persons who are at least eighteen (18) years of age, resident in Nigeria, and legally capable of entering into binding agreements.

You represent that you are not on any international sanctions list and are not located in a sanctioned jurisdiction.

SpectraPay operates a tiered KYC system.

Tier 0 provides basic access upon registration. Tier 1 is unlocked by verifying your email address and phone number. Tier 2 is unlocked by submitting your BVN and completing biometric identity verification via our licensed KYC provider.

Higher tiers unlock increased transaction and withdrawal limits. You agree to provide accurate documentation and information during verification. Failure to complete KYC may result in restrictions on your account.

You must use the Services in compliance with all applicable Nigerian laws and regulations. You are solely responsible for the accuracy of information you provide and for all activities conducted under your account.

You shall not use the Services to:

(a) engage in fraud, money laundering, or terrorism financing; (b) circumvent or manipulate the platform's security mechanisms; (c) process funds derived from illegal activities; (d) violate any applicable sanctions laws; (e) submit stolen, counterfeit, previously redeemed, or fraudulently obtained Gift Cards; or (f) conduct any activity that disrupts or harms the platform or other users.

Where gift card services are made available in the app, you may submit eligible Gift Cards for redemption or trade at the rates displayed in the app at the time of submission. Rates may change as market conditions change, and a rate displayed earlier is not guaranteed for later submissions.

You confirm that you are the lawful owner of any Gift Card you submit, that it was obtained legitimately, and that you have the right to sell or transfer it.

Each Gift Card is subject to verification. SpectraPay may reject, delay, or reverse a Gift Card transaction if the card is invalid, has already been used, was stolen or fraudulently obtained, does not match the details you provided, or cannot be verified. We may withhold payment while we investigate.

Payment for an approved Gift Card is credited to your SpectraPay wallet. Once a Gift Card has been submitted and accepted, the transaction cannot be cancelled except as required by applicable law.

Wallet funding via bank transfer or card payment is credited automatically once confirmation is received from our payment processor.

All wallet fundings, withdrawals, bill payments, and approved Gift Card transactions are final once processed except as required by applicable law. SpectraPay may delay, hold, or reverse a transaction if it appears suspicious or in violation of these Terms.

SpectraPay charges applicable service fees on card funding and select bill payments. Applicable fees for other services, including Gift Card transactions, are disclosed within the platform before you confirm a transaction.

We reserve the right to update our fees with prior notice published in the app.

All software, designs, logos, trademarks, and content within the SpectraPay platform are owned by or licensed to Spectra Technologies Limited.

You are granted a limited, non-exclusive, non-transferable license to use the Services for lawful personal purposes only.

We may suspend or terminate your account if you breach these Terms, fail KYC or AML checks, engage in prohibited activities, or if required by law or regulation.

We may hold or freeze wallet funds during compliance investigations.

You may request deletion of your account at any time through the app or by contacting support@spectrapay.io. Before deletion, you must withdraw or spend any remaining wallet balance and settle any pending transactions. We may retain certain data where required by law, including for KYC, AML, and regulatory purposes.

Bill payment, funding, and Gift Card services are subject to the availability of third-party billers, banks, payment processors, and Gift Card issuers, and delays or failures on their end are outside SpectraPay's control. SpectraPay processes payments at the prevailing fees and rates applicable at the time of the transaction.

You accept sole responsibility for verifying biller details, account numbers, Gift Card details, and payment information before confirming a transaction.

To the maximum extent permitted by Nigerian law, SpectraPay shall not be liable for indirect, incidental, or consequential losses.

This does not exclude liability for fraud, willful misconduct, or gross negligence on our part.

You agree to indemnify and hold Spectra Technologies Limited harmless against any claims, damages, or expenses arising from your breach of these Terms or misuse of the Services.

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes shall be resolved by arbitration in Lagos, Nigeria, under the Arbitration and Conciliation Act, conducted in English.

SpectraPay may amend these Terms at any time. Updated Terms will be published in the app and on our website. Continued use of the Services after such changes constitutes your acceptance.

Notices will be communicated via email or in-app notifications and are deemed received upon transmission.

For questions regarding these Terms, contact us at: support@spectrapay.io