Data Privacy, Protection & Cookie Policy

This "Privacy Policy" describes your privacy rights regarding Paystack South Africa Proprietary Limited's ("Paystack", "we", "us" or "our") collection, processing and use, storage, sharing and protection of your personal information (as defined in the Protection of Personal Information Act 4 of 2013 ("POPIA")). It applies to our website (https://paystack.com/) and all related sites, applications, services and tools that we make available (collectively referred to as the "services" in this Privacy Policy), regardless of how you access or use them. This Privacy Policy will help you understand how we use your personal information and what we do with it.

We respect the privacy of our online visitors and users of our services, being merchants and customers of merchants ("Users" or "you"), and as such we will take reasonable steps to protect your personal information.

1. About Us

Paystack is an online payment platform that makes it easy for merchants to accept card payments online from customers.

2. Updates, Modifications & Amendments

We may need to update, modify or amend our Privacy Policy as our technology evolves. We reserve the right to make changes to this Privacy Policy at any time by giving notice to Users on this page and/or through the services to Users.

We advise that you check this page often, referring to the date of the last modification hereof on the page. If you object to any of the changes to this Privacy Policy, you must cease using this website and the services, and terminate your account with us in the event an account has been created.

3. Age Restriction

Our website and services are not directed to persons under the age of 18 ("children"). We do not knowingly collect personal information from or about children. If, as a parent or guardian, you become aware that your child has provided us with any personal information without your consent, or we have collected personal information about such child, please contact us via the details set out in this Privacy Policy.

4. The Information we Collect

4.1 Personal Information

To gain full access to our website and services, you must register for a Paystack account. When you register for an account, we will collect Personal Information about you, which may include information about your business.

Personal Information refers to the personal information you submit when you sign up or any information that can be used to identify you, such as, email address, name, identity or registration number, telephone number, location and business details. It may also include pseudonymised information that is linked you specifically, such as your IP address.

We use personal information for the following purposes:

  1. provide you with the services and perform in terms of our agreement with you;
  2. respond to your questions or requests;
  3. manage our relationship with you;
  4. monitor and improve Paystack's operations;
  5. address inappropriate use of our website;
  6. prevent, detect and manage risk against fraud and illegal activities;
  7. target advertisements, send you newsletters and communicate with you for marketing purposes, unless you have opted-out of such communications;
  8. verify information with third parties;
  9. update our database, improve our content, services and website;
  10. carry out market research and surveys, business and statistical analysis and necessary audits;
  11. resolve disputes that may arise; and
  12. comply with our regulatory, legal and other obligations.

We may retrieve additional personal information about you from third parties, such as your financial institution, payment processors and verification services.

With your consent, we may also collect additional personal information in other ways, including via emails, surveys, and other forms of communication. Once you begin using our services through your Paystack account, we will keep records of your transactions and collect information of your activities related to our services.

We will only use or disclose your personal information for purposes set out in this Privacy Policy or any other agreement that we've entered into with you, if the law allows it, if it is in the public interest to do so, or with your consent. All purposes for the processing of your personal information will be legal in terms of applicable law.

4.2 Information that we collect from website visitors

We do not collect your personal information when you visit the website. However, so we can monitor and improve our website and services, we may collect anonymous information (information that does not identify you) about your use of the website. We will not share or disclose this information with third parties except as a necessary part of providing our website and services. We may use the information to target advertisements to you.

4.3 Information that we collect from test users

When you test our services using the "Demo" part of our website, we collect both anonymous information and personal information. Information we collect includes your IP address, information about your computer, and other standard web log information to monitor the test transactions. We also collect and store your email address and card information you provide to conduct the test transactions.

In compliance with the Payment Card Industry Data Security Standard ("PCI DSS Requirements"), we implement access control measures, security protocols and standards, including the use of encryption and firewall technologies, to ensure your card information is safe and secure in our servers. We also implement periodical security updates to ensure that our security infrastructures are in compliance with reasonable industry standards. We will not share and disclose your card information.

4.4 Information that we collect from checkout users

When you checkout with Paystack on a merchant's website (as a customer of the merchant), we collect and store your card information, your email address, your mobile phone number, and billing and shipping address. To ensure your card information is kept safe and secure on our servers, we implement access control measures (physical and virtual), security protocols, policies and standards, including the use of encryption and firewall technologies, in compliance with the PCI DSS Requirements and we implement periodical security updates to ensure that our security infrastructures are in compliance with reasonable industry standards.

We may share your contact information with merchants as part of your purchase details for record purposes. We will not share this information with other third parties except as a necessary part of providing our website and services and in compliance with applicable laws. We do not share your card information with merchants. Please review your merchant's privacy policy to understand the privacy policies guiding the merchant(s) you transact with.

5. Two Factor Authentication ("2FA")

2FA is an additional layer of security we have added to your account. When 2FA is enabled, you will be required to enter a One Time Password (OTP) (which is a verification code we have sent to you for authentication purposes) each time you checkout using Paystack on a merchant's website or platform. While we encourage you to enable this feature on every transaction, you may choose to disable the 2FA feature after your initial enrolment by clicking on the toggle button to disable. However, if you choose to disable this feature, you agree that Paystack shall not be liable for any loss or damages incurred as a result of your action.

6. Cookies

We use cookies to identify you as a User and make your experience easier, customise our services, content and advertising; help you ensure that your account security is not compromised, mitigate risk and prevent fraud; and to promote trust and safety on our website. Cookies allow our servers to remember your account log-in information when you visit our website, IP addresses, date and time of visits, monitor web traffic and prevent fraudulent activities. If your browser or browser add-on permits, you have the choice to disable cookies on our website, however this may limit your ability to use our website.

7. How we protect your Personal Information

Paystack is committed to managing your Personal Information in line with global industry best practices. We protect your Personal Information using physical, technical, and administrative security measures to reduce the risks of loss, misuse, unauthorized access, disclosure and alteration, we also use industry-standard Transport Layer Security (TSL) encryption technology to safeguard your Personal Information. Other security safeguards include but are not limited to data encryption, firewalls, and physical access controls to our building and files and only granting access to Personal Information to employees who require it to fulfil their job responsibilities.

We will report any security breach to the applicable regulatory authority in terms of applicable law and to the individuals or companies whose Personal Information is involved in the breach. If you want to report any concerns about our privacy practices or if you suspect any breach regarding your Personal Information, kindly notify us by sending an email to [email protected]

8. How we share the Personal Information you provide

To enable us render our services to you on our website, we may share your Personal Information with trusted third parties, such third parties include financial institutions such as banks, payment processor verification services, as well as any third parties that you have directly authorized to receive your Personal Information. Your Personal Information may be stored in locations outside the direct control of Paystack, for instance, on servers or databases co-located with hosting providers.

We may disclose your Personal Information in compliance with applicable law or a legal obligation to which we are bound.

Please note that merchants, sellers, and Users you buy from or contract with have their own privacy policies, and although Paystack's Merchant Terms of Use does not allow the other transacting party to use this information for anything other than as authorised by you, Paystack is not responsible for their actions, including their information protection practices.

The use of your information by such third party will be subject to their applicable privacy policy, which you should carefully review.

If we engage third party processors to process your Personal Information, the processors will only be appointed in terms of a written agreement which will require the third party processors to only process Personal Information on our written instructions, use appropriate measures to ensure the confidentiality and security of your Personal Information and comply with any other requirements set out in the agreement and required by applicable law.

Due to the nature of the services and our business being established in different countries, we may need to transfer Personal Information to and from the different countries for internal business purposes. We may transfer your Personal Information to recipients in other countries. We will only transfer Personal Information to third parties in countries with adequate data protection laws or do so in terms of a written agreement with the recipient which imposes data protection requirements on that party as required by applicable law.

Please note that when you transfer any Personal Information directly to a third party in another country (i.e. we do not send your Personal Information to the third party), Paystack is not responsible for that transfer of Personal Information (and such transfer is not based on or protected by this Privacy Policy). Any Personal Information that we receive from a third party country will nevertheless be processed in terms of this Privacy Policy.

9. The Data that we Retain

We will retain your information for as long as your account is active or as needed to provide you with our services, comply with our legal and statutory obligations or verify your information with a financial institution.

Paystack is statutorily obligated to retain the data you provide us with in order to process transactions, ensure settlements, make refunds, identify fraud and in compliance with laws and regulatory guidelines applicable to us, our banking providers and card processors.

Therefore, even after closing your Paystack account, we will retain certain data to comply with these obligations and for the purposes necessary to establish, exercise or defend any legal rights.

Rights

Right to object: You may, on reasonable grounds, object to us using your Personal Information for certain purposes, including for direct marketing purposes. If you object, we will stop using your Personal Information, except if applicable law allows its use. To exercise this right or to discuss it with us, please contact us on [email protected]

Quality: We want to ensure that your Personal Information is accurate and up to date. You may ask us to correct or remove any Personal Information that you think is inaccurate, by sending us an email on [email protected]

Right to erasure: You have the right to request that we delete your Personal Information, subject to applicable limitations and exceptions.

Restrict processing: You may request that we temporarily or permanently stop processing your Personal Information.

Access: You have the right to request that we provide you with Personal Information that we hold about you. You must contact us directly to do so or send an email to [email protected] This request may be subject to an access to information request in terms of applicable laws and may require you to verify your identity, identify the rights you are wishing to exercise and pay a fee. The right to access your Personal Information may further be limited in terms of applicable law.

Right not to be subject to automated decision-making: Where a decision that has a legal or other significant effect is based solely on automated decision making, including profiling, you may request that your Personal Information not be processed in that manner.

Lodging a Complaint

If you want to raise any objection or have any queries about our privacy practices, you can contact our data protection officer on [email protected].

You also have the right to formally lodge a complaint in terms of applicable laws as follows:

Regulatory body: The Information Regulator

Website: http://www.justice.gov.za/inforeg/index.html

Address: SALU Building, 316 Thabo Sehume Street, Pretoria

Tel: 012 406 4818

Fax: 086 500 3351

Email: [email protected]

Acceptable Use Policy

By accessing or using Paystack's website and/or services, as a merchant or user, you agree to comply with the terms and conditions of this Acceptable Use Policy.

1. Restricted Activities

You may not use Paystack's website or services in connection with any product, service, transaction or activity that:

  • violates any law or government regulation, or promotes or facilitates such by third parties;
  • violates any rule or regulation of Visa, MasterCard, Verve or any other electronic funds transfer network (each, a "Card Network");
  • is fraudulent, deceptive, unfair or predatory;
  • causes or threatens reputational damage to Paystack or any Card Network;
  • involves any of the business categories listed in clause 2 below; or
  • results in or creates a significant risk of chargebacks, penalties, damages or other harm or liability for customers, yourself as a merchant, Paystack, the service providers that we rely on to provide our services or any Card Network.

2. Certain Business Categories

You may not use Paystack in connection with any product, service, transaction or activity that:

  • falls within the Consolidated List of Prohibited and Restricted Imports and Exports, maintained by SARS Customs and Excise in terms of section 113(8)(a) of the Customs and Excise Act 91 of 1964;
  • is prohibited by the Card Networks;
  • relates to the sale and/or purchase of:
    1. banned narcotics, steroids, certain controlled substances or other products that present a risk a consumer's safety;
    2. unlawful tobacco and electronic smokeless products;
    3. blood, bodily fluids or body parts;
    4. burglary tools;
    5. counterfeit items;
    6. illegal drugs and drug paraphernalia and illegal pharmaceutical products;
    7. fireworks, destructive devices and explosives;
    8. identity documents, government documents, personal financial records or personal information (in any form, including mailing lists);
    9. lottery tickets, sweepstakes entries or slot machines without the required license;
    10. offensive material or hate speech or items that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
    11. chemicals;
    12. recalled items;
    13. prohibited services;
    14. unlicensed financial services, stocks or other securities;
    15. stolen property;
    16. items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction;
    17. sales of currency without a Bureau De Change license, cryptocurrency operators;
    18. obscene material or pornography;
    19. certain sexually oriented materials or services;
    20. certain firearms, firearm parts or accessories, ammunition, weapons or knives;
    21. any product or service that is illegal or marketed or sold in such a way as to create liability to Paystack; or
    22. production of military and paramilitary wears and accoutrement, including those of the Police and the Customs, Immigration and Prison Services.
  • relate to transactions that:
    1. show the personal information of third parties in violation of applicable law;
    2. support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs;
    3. are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card;
    4. pertain to ammunitions and arms; and
    5. involve gambling, gaming and/or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes unless the operator has obtained prior approval from Paystack and the operator and customers are located exclusively in jurisdictions where such activities are permitted by law.

3. Actions by Paystack

If, in our sole discretion, we believe that you may have engaged in any violation of this Acceptable Use Policy, we may (with or without notice to you) take such actions as we deem appropriate to mitigate risk to Paystack and any impacted third parties and to ensure compliance with this Acceptable Use Policy.

Such actions may include, without limitation:

  • Blocking the settlement or completion of one or more payments;
  • Suspending, restricting or terminating your access to and use of Paystack's services;
  • Terminating our business relationship with you, including termination without liability to Paystack of any payment service agreement between you and Paystack;
  • Taking legal action against you;
  • Contacting and disclosing information related to such violations to (i) persons who have sold/purchased goods or services from you, (ii) any banks or Card Networks involved with your business or transactions, (iii) law enforcement or regulatory agencies, and (iv) other third parties that may have been impacted by such violations; or
  • Assessing against you any fees, penalties, assessments or expenses (including reasonable attorneys' fees) that we may incur as a result of such violations, which you agree to pay promptly upon notice.

4. Updates, Modifications & Amendments

We may need to update, modify or amend our Acceptable Use Policy at any time. We reserve the right to make changes to this Acceptable Use Policy.

We advise that you check this page often, referring to the date of the last modification on the page.

Terms of Use

By using this website (www.paystack.com), any of our websites and/or services, you agree to these Terms of Use. The website Privacy Policy, Acceptable Use Policy and Merchant Terms of Service (where applicable) are incorporated by reference into these Terms of Use.

About Us

Paystack South Africa Proprietary Limited ("Paystack", "we", "us" or "our") is an online payment gateway that makes it easy for merchants to accept credit and debit card payments online from users or customers ("you" or "User").

We are an independent contractor for all purposes, providing this website and our services on an independent service provider basis to the supplier of the products and services that you are using our services to purchase. We do not have control or assume the liability or legality for the products or services that are paid for with our service. We do not guarantee any user's identity and cannot ensure that a buyer or seller will complete a transaction.

This Terms of Use is an agreement between you and Paystack. It details Paystack's obligations to you. It also highlights certain risks on using the services and you must consider such risks carefully as you will be bound by the provision of this Agreement through your use of this website or any of our services.

Privacy Policy

Paystack is committed to managing your Personal Information in line with global industry best practices. You can read our Privacy Policy to understand how we use your information and the steps we take to protect your information.

Age Restriction

Our website and services are not directed to persons under the age of 18. We do not knowingly transact or provide any services to persons under the age of 18.

Disputes & Reversal

If you believe that an unauthorized or otherwise problematic transaction has taken place, you agree to notify us immediately to enable us take action to help prevent financial loss.

All claims against us related to payments should be made within 45 (forty-five) calendar days after the date of such payment. If you have not made a claim regarding an unauthorised or problematic transaction within that time, you will have waived your right to bring any claims against us.

If you enter into a transaction with a merchant and have a dispute over the goods or services you purchased, Paystack has no liability for such goods or services and your claim must be brought against the merchant. Paystack's only involvement with regard to such transaction is as a payment gateway.

We may intervene in disputes between users and merchants concerning payments but have no obligation to do so.

Your transaction ID and/or transaction details will be required to resolve all disputes.

Acceptable Use Policy

You are independently responsible for complying with all applicable laws related to your use of our website and services. However, by accessing or using Paystack's website or services, you agree to comply with the terms and conditions of our Acceptable Use Policy which is available on our website.

Disclaimers

WE TRY TO KEEP THE PAYSTACK WEBSITE AND SERVICES AVAILABLE AT ALL TIMES, BUG-FREE AND SAFE, HOWEVER, YOU USE IT AT YOUR OWN RISK.

OUR WEBSITE AND SERVICES ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS, IMPLIED AND/OR STATUTORY WARRANTIES (INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED OR STATUTORY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, TITLE, AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS). WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, PAYSTACK MAKES NO WARRANTY THAT OUR WEBSITE AND SERVICES WILL MEET YOUR REQUIREMENTS OR THAT OUR WEBSITE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU THROUGH OUR WEBSITE OR FROM PAYSTACK, ITS PARENTS, SUBSIDIARIES, OR OTHER AFFILIATED COMPANIES, OR ITS OR THEIR SUPPLIERS (OR THE RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS OF ANY SUCH ENTITIES) (COLLECTIVELY, "PAYSTACK PARTIES") SHALL CREATE ANY WARRANTY WHATSOEVER.

Limitation of Liability

IN NO EVENT WILL ANY OF THE PAYSTACK PARTIES BE LIABLE FOR ANY COSTS, CLAIMS, PENALTIES, ACTIONS, JUDGEMENTS, SUITS, EXPENSES, DISBURSEMENTS, FINES OR OTHER AMOUNTS WHICH YOU MAY SUSTAIN, BE THREATENED WITH OR SUFFER, OR DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, THOSE RESULTING FROM LOSS OF REVENUES, LOST PROFITS, LOSS OF GOODWILL, LOSS OF USE, BUSINESS INTERRUPTION, OR OTHER INTANGIBLE LOSSES), ARISING OUT OF OR IN CONNECTION WITH PAYSTACK'S WEBSITE OR SERVICES (INCLUDING, WITHOUT LIMITATION, USE, INABILITY TO USE, OR THE RESULTS OF USE OF PAYSTACK'S WEBSITES OR SERVICES), WHETHER SUCH DAMAGES ARE BASED ON WARRANTY, CONTRACT, TORT, STATUTE, OR ANY OTHER LEGAL THEORY, IN EXCESS OF THE AMOUNT OF THE TRANSACTION OR THE EQUIVALENT OF TWENTY THOUSAND UNITED STATES DOLLARS (US$20,000.00) DOLLARS, WHICHEVER IS LESSER.

THE PAYSTACK PARTIES WILL NOT BE LIABLE FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES OF ANY KIND WHATSOEVER OR HOWSOEVER CAUSED (WHETHER ARISING UNDER CONTRACT, DELICT OR OTHERWISE AND WHETHER THE LOSS OR DAMAGE WAS ACTUALLY FORESEEN OR REASONABLY FORESEEABLE), INCLUDING BUT NOT LIMITED TO ANY LOSS OF COMMERCIAL OPPORTUNITIES OR LOSS OF PROFITS, AND WHETHER AS A RESULT OF NEGLIGENT (INCLUDING GROSSLY NEGLIGENT) ACTS OR OMISSIONS OF THE PAYSTACK PARTIES.

By agreeing to these Terms of Use, you agree to indemnify, defend and hold the Paystack Parties harmless against any claim by any third party for any costs, damages (including, without limitation, indirect, extrinsic, special, penal, punitive, exemplary or consequential loss or damage of any kind), penalties, actions, judgements, suits, expenses, disbursements, fines or other amounts arising, whether directly or indirectly, from a breach of this Terms of Use by you.

Exclusions

Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for certain damages. Accordingly, some of the above disclaimers and limitations of liability may not apply to you. To the extent that any Paystack Party may not, as a matter of applicable law, disclaim any implied warranty or limit its liabilities, the scope and duration of such warranty and the extent of the Paystack Party's liability shall be the minimum permitted under such applicable law.

Updates, Modifications & Amendments

We may need to update, modify or amend our Terms of Use as our technology evolves. We reserve the right to make changes to this Terms of Use at any time by giving notice to Users on this page.

We advise that you check this page often, referring to the date of the last modification on the page. If a User objects to any of the changes to the Terms of Use, the User must cease using our website and/or services immediately as your continued use of the website and/or services will be deemed as your acceptance of the changes.

Applicable Law

These Terms of Use shall be interpreted and governed by the laws currently in force in the Republic of South Africa.

Legal Disputes

We shall make an effort to settle all disputes amicably. Any dispute arising out of this Terms of Use which cannot be settled by mutual agreement/negotiation within 1 (one) month shall be referred to arbitration by a single arbitrator in accordance with the Commercial Rules for Arbitration as stipulated by the Arbitration Foundation of South Africa ("AFSA"). The arbitrator shall be appointed by both of us (we and you), failing which either party will be entitled to approach the Secretariat of AFSA to appoint an arbitrator. The findings of the arbitrator and subsequent award shall, in the absence of manifest error, be binding on both of us. Each of us shall bear our respective costs in connection with the arbitration. The venue for the arbitration shall be Johannesburg, South Africa.

Severability

If any portion of these Terms of Use is held by any court or tribunal to be invalid or unenforceable, either in whole or in part, then that part shall be severed from these Terms of Use and shall not affect the validity or enforceability of any other part in this Terms of Use.

Suspension of the website and/or services

We may, without liability, temporarily suspend the website and/or services for any reason, including for repairs or upgrades to the website and/or services or as a result of the third-party services that we make use of. Paystack will take reasonable efforts to notify Users of such suspensions in advance.

Terms of Service

By signing up for an account on this website (www.paystack.com), or by using any of our websites and/or services, you are deemed a "merchant" and agree to these Merchant Terms of Service (the "Agreement").

PLEASE READ THIS AGREEMENT CAREFULLY BEFORE SIGNING UP AS A MERCHANT. If you do not agree to any or all of the terms of this Agreement, DO NOT USE THIS WEBSITE OR OUR SERVICES AS A MERCHANT.

About Us

Paystack South Africa Proprietary Limited ("Paystack", "we", "us" or "our") is an online payment gateway that makes it easy for merchants to accept credit and debit card payments online from users or customers.

We are an independent contractor for all purposes, providing this website and our services on an independent service provider basis. We do not endorse, have control or assume the liability or legality for the products or services that are paid for with our service. We do not guarantee any user's identity and cannot ensure that a buyer or seller will complete a transaction.

Agreement

This Agreement is an agreement between you, the merchant, and Paystack. It details Paystack's obligations to you. It also highlights certain risks of using the services and you must consider such risks carefully as you will be bound by the provisions of this Agreement through your use of this website or any of our services.

This Agreement applies in addition to the Merchant Services Agreement that you will enter into with Paystack. Where the terms of this Agreement are inconsistent with the terms of the Merchant Services Agreement, the terms of the Merchant Services Agreement shall prevail to the extent of the inconsistency.

Registration

To use Paystack's services, you have to create a Paystack account by registering. To register, you will provide us with certain information such as your email, first name, last name, business name and phone number and we may seek to verify your information (by ourselves or through third party service providers), after which we will approve your account unless deemed risky. By creating an account, you give us permission to carry out these activities.

Any personal information that we process when registering your account will be processed in accordance with our privacy policy.

Change of Information

In the event that you change any information provided to us at registration, such as your business name, address, financial institution, mode of payments or the products and services that you offer, or where a corporate restructuring of your business occurs, you agree to notify us within 14 calendar days of such change. We may be unable to respond to you if you contact us from an address, telephone number or email account that is not registered with us, and we reserve the right to suspend your use of our services where your information that is registered with us is not up to date.

Representation and Warranties

You represent and warrant to Paystack that:

  1. you have full power and authority to enter into, execute, deliver and perform in terms of this Agreement; and
  2. you are duly organised, authorised and in good standing under the laws of the Republic of South Africa or any state, region or country of your organisation and are duly authorised to do business in all other states, regions or countries in which your business operates.

Age Restriction

Our website and services are not directed to persons under the age of 18. We do not knowingly transact or provide any services to persons under the age of 18.

Account Security

You agree not to allow anyone else to have or use your password details to access your account and to comply with all reasonable instructions we may issue regarding account access and security. In the event you share your password details, or should anyone enter your password details (whether that be you, or anyone else), we assume that the person using the services is you, and Paystack will not be liable to you for any losses or damages that you or any third party may suffer as a result. You agree to also take all reasonable steps to protect the security of the personal electronic device through which you access Paystack's services (including, without limitation, using PIN and/or password protected personally configured device functionality to access Paystack's services and not sharing your device with other people).

You must inform us immediately if there has been, or if you suspect, any breach of security, confidentiality or of your account, and update your password details immediately to secure your account.

Data Compliance

You agree to comply with all data privacy and security requirements of the Payment Card Industry Data Security Standard ("PCI DSS Requirements") and any applicable law or regulation that may be in force, enacted or adopted regarding confidentiality, your access, use, storage and/or disclosure of user information. Information on the PCI DSS Requirements can be found on the PCI Council's website. It is your responsibility to comply with these standards as they are applicable to you.

We are responsible for the security and protection of Card Holder Data (CHD) that we collect and store. Accordingly, we implement access control measures, security protocols and standards, including the use of encryption and firewall technologies, to ensure that CHD is kept safe and secure on our servers in compliance with the PCI DSS Requirements. We also implement periodical security updates to ensure that our security infrastructures are in compliance with reasonable industry standards.

We acknowledge that you own all your customers' data. By entering into this Agreement, you hereby grant Paystack a perpetual, irrevocable, sub-licensable, assignable, worldwide, royalty-free license to use, reproduce, electronically distribute, and display your customers' data for the following purposes:

  1. providing and improving our services;
  2. internal usage, including but not limited to, data analytics and metrics, so long as individual customer data has been anonymized and aggregated with other customer data;
  3. complying with applicable legal requirements and assisting law enforcement agencies by responding to requests for the disclosure of information in accordance with local laws; and
  4. any other purpose for which consent has been provided by your customer.

Software License

We hereby grant you a revocable, non-exclusive, non-transferable license to use Paystack's APIs, developer's toolkit, and other software applications (the "Software") in accordance with the documentation accompanying the Software. This license grant includes all updates, upgrades, new versions and replacement software for your use in connection with Paystack's services. If you do not comply with the documentation and any other requirements provided by Paystack in respect of the Software, you will be liable for all resulting damages suffered by you, Paystack and third parties.

Unless otherwise provided by applicable law, you agree not to alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the Software.

Upon expiration or termination of this Agreement, you will immediately cease all use of any Software and documentation.

Trademark License

We hereby grant you a revocable, non-exclusive, non-transferable license to use Paystack's trademarks that are used to identify our services (the "Trademarks") solely in conjunction with the use of our services. You agree that you will not at any time during or after this Agreement assert or claim any interest in or do anything that may adversely affect the validity of any Trademark or any other trademark, trade name or product designation belonging to or licensed to Paystack (including, without limitation registering or attempting to register any Trademark or any such other trademark, trade name or product designation). Upon expiration or termination of this Agreement, you will immediately cease all display, advertising and use of all of the Trademarks.

Intellectual Property

Other than those expressly mentioned in this Agreement, we do not grant any right or license to any Paystack intellectual property rights by implication, estoppel or otherwise.

Each party shall retain all intellectual property rights, including all ownership rights, title, and interest, in and to its own products and services, subject only to the rights and licenses specifically granted herein.

Publicity

You hereby grant Paystack permissions to use your name and logo in our marketing materials including, but not limited to use on our website, in customer listings, in interviews and in press releases. Such Publicity does not imply an endorsement for your products and services.

Confidential Information

The parties acknowledge that in the performance of their duties under this Agreement, either party may communicate to the other (or its designees) certain confidential and proprietary information, including without limitation information concerning each party's services, know how, technology, techniques, or business or marketing plans (collectively, the "Confidential Information"), all of which are confidential and proprietary to, and trade secrets of, the disclosing party. Confidential Information does not include information that: (i) is public knowledge at the time of disclosure by the disclosing party; (ii) becomes public knowledge or known to the receiving party after disclosure by the disclosing party other than by breach of the receiving party's obligations under this section or by breach of a third party's confidentiality obligations; (iii) was known by the receiving party prior to disclosure by the disclosing party other than by breach of a third party's confidentiality obligations; or (iv) is independently developed by the receiving party.

As a condition to the receipt of the Confidential Information from the disclosing party, the receiving party shall: (i) not disclose in any manner, directly or indirectly, to any third party any portion of the disclosing party's Confidential Information; (ii) not use the disclosing party's Confidential Information in any fashion except to perform its duties under this Agreement or with the disclosing party's express prior written consent; (iii) disclose the disclosing party's Confidential Information, in whole or in part, only to employees and agents who need to have access thereto for the receiving party's internal business purposes; (iv) take all necessary steps to ensure that its employees and agents are informed of and comply with the confidentiality restrictions contained in this Agreement; and (v) take all necessary precautions to protect the confidentiality of the Confidential Information received hereunder and exercise at least the same degree of care in safeguarding the Confidential Information as it would with its own confidential information, and in no event shall apply less than a reasonable standard of care to prevent disclosure of the Confidential Information.

Know Your Customer

You agree that you are solely responsible for verifying the identities of your customers, ensuring that they are authorised to carry out the transactions on your platform, and determining their eligibility to purchase your products and services.

You are also required to maintain information and proof of service or product delivery to your customer. Where a dispute occurs needing resolution, you may be required to provide Paystack with this information.

Card Network Rules

Each "Card Network" (meaning Visa, MasterCard and any other applicable card association) has its own rules, regulations and guidelines. You are required to comply with all rules of the Card Networks ("Network Rules") that are applicable to merchants. You can review the Network Rules as published by Mastercard, Visa, Verve and other Card Networks. The Card Networks reserve the right to amend the Network Rules from time to time.

Customer Payments

You may only process payments when authorised to do so by your customer. We will only process transactions that have been authorised by the applicable Card Network or card issuer.

We do not guarantee or assume any liability for transactions authorised and completed that are later reversed or charged back (see Chargebacks below). You are solely responsible for all reversed or charged back transactions, regardless of the reason for, or timing of, the reversal or chargeback.

Paystack may add or remove one or more payment types or Card Networks at any time. If we do so we will use reasonable efforts to give you prior notice of the removal.

Our Fees & Pricing Schedule

You agree to pay us for the services we render to you as a payment gateway for payment of your goods and services. Our "Fees" will be calculated as demonstrated on the Pricing page on the website and can be calculated on the same page using the "little calculator" we have provided. The Fees on our Pricing page are integral to and forms part of this Agreement.

We reserve the right to revise our Fees. In the event that we revise our Fees, we will notify you within 5 (five) business days' of such change.

Payouts

Subject to the terms of this Agreement, Paystack will send to your designated bank or card settlement account ("Bank Account") all amounts settled and due to you from your transactions with customers, minus our Fees as stated in the Fee Schedule, any Reversals, Invalidated Payments, Chargebacks, Refunds or other amounts that you owe to Paystack under this Agreement ("Payout"). If the Payout is not sufficient to cover the amounts due by you to Paystack, you agree that we may debit your Bank Account for the applicable amounts due, and/or set-off the applicable amounts against future Payouts due to you. By entering into this Agreement, you agree to provide us with all necessary Bank Account and related information on our request, and grant us permission to debit amounts due by you from your Bank Account.

After a transfer of funds (“Payout”) is initiated to your Bank Account, we will update information on your Paystack dashboard ("Dashboard") to reflect settlement of the transactions that the Payout relates to. Information regarding your transactions that are processed and settled using Paystack ("Transaction History") will be available to you when you login to your Paystack Dashboard.

While we will provide Transaction History in your Paystack Dashboard, you are solely responsible for compiling and retaining permanent records of all transactions concluded with customers and other data associated with your Paystack account as may be required for your business. Paystack is not responsible for maintaining Transaction History or other records in a manner consistent with your record retention obligations.

Payout Schedule

Your "Payout Schedule", which is the time it takes us to initiate a transfer of settled funds from card transactions processed through us to your Bank Account, is on your Paystack Dashboard. We reserve the right to change your Payout Schedule, suspend Payouts to your Bank Account or initiate a Reversal (as set out below) should we deem it necessary due to pending disputes, excessive or anticipated excessive Chargebacks or Refunds (as discussed below), or other suspicious activity associated with your use of Paystack's services, or if required by law or court order.

How we handle your Funds

You authorise and instruct Paystack to hold, receive, and disburse funds on your behalf when such funds from your card transactions settle from the Card Networks. By accepting this Agreement, you further authorise Paystack on how your card transaction settlement funds should be disbursed to you as Payouts and the timing of such Payouts (as set out in the Payout Schedule).

You agree that you are not entitled to any interest or other compensation associated with the settlement funds held by Paystack pending settlement and Payout to your Bank Account.

Settlement funds will be held in a deposit account by Paystack pending Payouts to you in accordance with the terms of this Agreement. We may periodically make available to you information about pending settlements yet to be received by us from the Card Networks.

Your authorisations as provided in this section will remain valid and be of full effect until your Paystack account is closed or terminated.

Security and Fraud Controls

Paystack is responsible for protecting the security of payment data, including CHD, in our possession and will maintain commercially reasonable administrative, technical, and physical procedures to protect all the personal information regarding you and your customers that is stored in our servers from unauthorised access and accidental loss or modification. Although we cannot guarantee that unauthorised third parties will never be able to defeat those measures or use such personal information for improper purposes, we will take all reasonable and commercially achievable measures to implement and address any security incident as soon as we become aware of such security incident.

You agree to use other procedures and controls provided and/or recommended by us and other measures that are appropriate for your business to reduce the risk of fraud.

In the event that you suspect any fraudulent activity by a customer, you agree to notify Paystack immediately and terminate the delivery of the service to that customer. In addition, where we suspect that there have been frequent fraudulent transactions on your account, we reserve the right to suspend or cancel our service to you and/or your account without liability.

Notification of Errors

You agree to notify us immediately where any error is detected while reconciling transactions that have been concluded using our services. We will investigate all errors and rectify such errors once verified. In the event that we notice any errors, we will also investigate and rectify such errors.

Where we owe you money as a result of such errors, we will refund the amounts owed to you by a bank transfer to your Bank Account assuming you owe us no fees.

If a transaction is erroneously processed through your platform, you agree to report such error to us immediately. We will investigate any such reports and attempt to rectify the errors by crediting or debiting your Bank Account as appropriate. You agree to cooperate with Paystack and provide us with relevant information as we may reasonably request.

Failure to notify us within 45 (forty-five) days of the occurrence of an error will be deemed a waiver of your rights to any amounts that are owed to you due to an error. You agree that Paystack will not be liable for any interest on any amounts that may be owed to you by Paystack for any reason whatsoever.

Chargebacks

A "Chargeback" usually happens when a customer files directly with or disputes through his or her credit or debit card issuer a payment on their card. A dispute may result in the reversal of a transaction and the value of the transaction (and associated fees) being charged to you.

You may be assessed Chargebacks for (i) customer disputes; (ii) unauthorised or improperly authorised transactions; (iii) transactions that do not comply with Network Rules, the terms of this Agreement or transactions that are allegedly unlawful or suspicious; or (iv) any reversals for any reason by a Card Network, our processors, or the acquiring or issuing banks. Where a Chargeback occurs, you are immediately liable for all claims, expenses, fines and liability that we incur arising out of that Chargeback, and agree that we may recover these amounts by debiting your Bank Account or setting them off against any future amounts that are due to you from Paystack. Where these amounts are not recoverable by debiting your Bank Account or through set-off, you agree to pay all such amounts through any other means.

Reserves

In our sole discretion, we may place a reserve on a portion of your Payouts by holding such portion for a certain period where we believe there is a high level of risk associated with your business ("Reserve"). If we take such steps, we will provide you with the terms of the Reserve which may include the percentage of your Payouts to be held back, the duration of the Reserve and any other such restrictions that Paystack may deem necessary. Where such terms are changed, we will notify you.

You agree that you will remain liable for all obligations related to your transactions during and after the release of any Payouts held in Reserve. In addition, we may require you to keep your Bank Account available for any open settlements, Chargebacks and other adjustments.

To secure your performance of this Agreement, you grant Paystack a legal claim to the funds held in the Reserve as a lien or security interest for amounts payable by you.

Refunds

You agree that you are solely responsible for accepting and processing returns of your products and services with customers. We are under no obligation to process returns of your products and services, or to respond to your customers' inquiries about returns of your products and services. You agree to submit all Refunds for returns of your products and services that were paid for through Paystack's services to your customers in accordance with this Agreement and relevant Network Rules.

Termination and suspension

You may terminate this Agreement by closing your Paystack Account.

In addition to any other provisions in this Agreement, we may suspend your Paystack Account and your access to Paystack's services and any funds, or terminate this Agreement, if:

  1. you do not comply with any of the provisions of this Agreement;
  2. we are required to do so by applicable laws;
  3. we are directed to do so by a Card Network or issuing financial institution; or
  4. where a suspicious or fraudulent transaction occurs.

Where access to any funds is suspended, Paystack will suspend the processing of the relevant transaction(s), or withhold settlement until an investigation into the transaction(s) has been certified as completed or concluded by Paystack. Any funds retained by Paystack as a result will under no circumstances incur interest or other compensation in favour of you, the merchant.

Restricted Activities & Acceptable Use Policy

You are solely responsible for complying with all applicable laws related to your use of our website and services. However, by accessing or using Paystack's website or services, you agree to comply with the terms and conditions of our Acceptable Use Policy and are restricted from the activities specified in it. The policy is available on our Acceptable Use Policy page.

Privacy Policy

Paystack is committed to managing your Personal Information in line with global industry best practices and applicable laws. You can read our Privacy Policy to understand how we use your information and the steps we take to protect your information.

Disclaimers

WE TRY TO KEEP THE PAYSTACK WEBSITE AND SERVICES AVAILABLE AT ALL TIMES, BUG-FREE AND SAFE, HOWEVER, YOU USE IT AT YOUR OWN RISK.

OUR WEBSITE AND SERVICES ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS, IMPLIED AND/OR STATUTORY WARRANTIES (INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED OR STATUTORY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, TITLE, AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS). WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, PAYSTACK MAKES NO WARRANTY THAT OUR WEBSITE AND SERVICES WILL MEET YOUR REQUIREMENTS OR THAT OUR WEBSITE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU THROUGH OUR WEBSITE OR FROM PAYSTACK, ITS PARENTS, SUBSIDIARIES, OR OTHER AFFILIATED COMPANIES, OR ITS OR THEIR SUPPLIERS (OR THE RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS OF ANY SUCH ENTITIES) (COLLECTIVELY, THE "PAYSTACK PARTIES") SHALL CREATE ANY WARRANTY WHATSOEVER.

Limitation of Liability

IN NO EVENT WILL ANY OF THE PAYSTACK PARTIES BE LIABLE FOR ANY COSTS, CLAIMS, PENALTIES, ACTIONS, JUDGEMENTS, SUITS, EXPENSES, DISBURSEMENTS, FINES OR OTHER AMOUNTS WHICH YOU MAY SUSTAIN, BE THREATENED WITH OR SUFFER, OR DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, THOSE RESULTING FROM LOSS OF REVENUES, LOST PROFITS, LOSS OF GOODWILL, LOSS OF USE, BUSINESS INTERRUPTION, OR OTHER INTANGIBLE LOSSES), ARISING OUT OF OR IN CONNECTION WITH PAYSTACK'S WEBSITE OR SERVICES (INCLUDING, WITHOUT LIMITATION, USE, INABILITY TO USE, OR THE RESULTS OF USE OF PAYSTACK'S WEBSITES OR SERVICES), WHETHER SUCH DAMAGES ARE BASED ON WARRANTY, CONTRACT, TORT, STATUTE, OR ANY OTHER LEGAL THEORY, IN EXCESS OF THE AMOUNT OF THE TRANSACTION OR THE EQUIVALENT OF TWENTY THOUSAND UNITED STATES DOLLARS (US$20,000.00) DOLLARS, WHICHEVER IS LESSER.

THE PAYSTACK PARTIES WILL NOT BE LIABLE FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES OF ANY KIND WHATSOEVER OR HOWSOEVER CAUSED (WHETHER ARISING UNDER CONTRACT, DELICT OR OTHERWISE AND WHETHER THE LOSS OR DAMAGE WAS ACTUALLY FORESEEN OR REASONABLY FORESEEABLE), INCLUDING BUT NOT LIMITED TO ANY LOSS OF COMMERCIAL OPPORTUNITIES OR LOSS OF PROFITS, AND WHETHER AS A RESULT OF NEGLIGENT (INCLUDING GROSSLY NEGLIGENT) ACTS OR OMISSIONS OF THE PAYSTACK PARTIES.

Exclusions

Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for certain damages. Accordingly, some of the above disclaimers and limitations of liability may not apply to you. To the extent that any Paystack Party may not, as a matter of applicable law, disclaim any implied warranty or limit its liabilities, the scope and duration of such warranty and the extent of the Paystack Party's liability shall be the minimum permitted under such applicable law.

Indemnity

You agree to defend, indemnify, and hold Paystack, its officers, directors, employees, agents, licensors, and suppliers, harmless from and against any claims, actions or demands, liabilities and settlements including without limitation, reasonable legal and accounting fees, resulting from, or alleged to result from, your violation of these Agreement.

Updates, Modifications & Amendments

We may need to update, modify or amend this Agreement as our technology evolves. We reserve the right to make changes to this Agreement at any time by giving notice to you on this page.

We advise that you check this page often, referring to the date of the last modification on the page. If you have any objection to any of the changes to this Agreement, you must cease using our website and/or services immediately as your continued use of the website and/or services will be deemed as your acceptance of the changes.

Applicable Law

This Agreement shall be interpreted and governed by the laws of the Republic of South Africa.

Legal Disputes

We shall make an effort to settle all disputes amicably. Any dispute arising out of this Agreement which cannot be settled, by mutual agreement/negotiation within 1 (one) month shall be referred to arbitration by a single arbitrator in accordance with the Commercial Rules for Arbitration as stipulated by the Arbitration Foundation of South Africa ("AFSA"). The arbitrator shall be appointed by both of us (we and you), failing which either party will be entitled to approach the Secretariat of AFSA to appoint an arbitrator. The findings of the arbitrator and subsequent award shall, in the absence of manifest error, be binding on both of us. Each of us shall bear our respective costs in connection with the Arbitration. The venue for the arbitration shall be Johannesburg, South Africa.

Severability

If any portion of this Agreement is held by any court or tribunal to be invalid or unenforceable, either in whole or in part, then that part shall be severed from this Agreement and shall not affect the validity or enforceability of any other part in this Agreement.

Miscellaneous

You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing. All notices sent pertaining to this Agreement shall be sent to the email or physical addresses that you have provided when registering an account, or as updated by you from time to time. Paystack nominates the following address for the service of any legal notices: 45 Kingfisher Drive, Fourways, Sandton, Gauteng, 2191, South Africa.

Assigning or sub-contracting any of your rights or obligations under this Agreement to any third party is prohibited. We reserve the right to transfer, assign or sub-contract the benefit of the whole or part of any rights or obligations under this Agreement to any third party.

Effective Date: Friday, Jul 23, 2021