Consumer Terms & conditions

Last Update: March 20, 2019

These terms and conditions apply between you, the User of this Website (including any sub-domains, unless expressly excluded by their own terms and conditions), and ByteFoundry Limited, the owner and operator of this Website. Please read these terms and conditions carefully, as they affect your legal rights. Your agreement to comply with and be bound by these terms and conditions is deemed to occur upon your first use of the Website. If you do not agree to be bound by these terms and conditions, you should stop using the Website immediately.

1. Introduction

1.1 The Parties to this Agreement.

  1. These are the terms and conditions (the "Terms and Conditions") that apply to your access to, and use of, PayFlexi's payment platform ("Platform", "Services") developed and owned by ByteFoundry Limited ("we", "us" and "our" and includes our officers, employees, contractors, agents, successors and assignees). Accordingly, please read these terms and conditions carefully.
  2. Where we refer to "you" or "your" in these Terms and Conditions, we mean any individual using the Platform.
  3. By accessing and using the Platform, you acknowledge you have read, and agree to comply with, these Terms and Conditions. If you do not wish to be bound by these Terms and Conditions, do not download, access or use the Platform.

1.2 Changes to this Agreement.

We reserve the right to amend these Terms and Conditions, in whole or in part, for any reason at any time. If we amend these Terms and Conditions the amendments will be effective immediately upon posting of the amended Terms and Conditions on our website and the date at the beginning of these Terms and Conditions will be updated to the date such amendments take effect. We will also email you with a link to the new Terms and Conditions. Any amendments we make do not change the Terms and Conditions of a purchase made using the Platform and the payment of the Purchase Price that applied at the time of the purchase. You are responsible for checking, and ensuring you are familiar with, the latest Terms and Conditions applicable at the date of purchase. Your continued use of the Platform after any amendments are made will be confirmation of your acceptance of these Terms and Conditions as amended.

1.3 Your Eligibility

To be eligible to use the PayFlexi platform, you are at least the age of majority in your state or province of residence and are legally capable of entering into a binding contract.. However, PayFlexi may only be used in the Nigeria at the moment. If you are between 10 and 15 years old, you must obtain permission from your parent or legal guardian to use PayFlexi. PayFlexi may change these eligibility requirements at any time, and reserves the right to refuse membership to any applicant for any reason, in its sole discretion.

2. Your Account

2.1 Opening of User Account.

To become a User of the PayFlexi Services, you must create a PayFlexi User Account. By opening a User Account and accepting the terms as outlined in this Agreement, you attest that you are establishing the Account to enable yourself to use PayFlexi to finance & purchase goods and services from PayFlexi Merchants.

  1. When you first use the Platform, you will be required to provide certain log in information (including first name, last name, email and password) that will enable you to access the Platform each time you wish to use the Platform to purchase products or services. You must keep your log in information secure to avoid use of the Platform using your log in details by other persons.
  2. You must not permit use of the Platform using your log in details by any other person. If the Platform is used by any other person with your log in details, or if you know or suspect any other person has obtained your log in details, you must immediately notify us at help@payflexi.co.
  3. You must exercise every possible care to ensure the safety of your computer or mobile device by taking all reasonable care to prevent loss, theft and unauthorised or fraudulent use.
  4. If the Platform is used by another person to purchase a Product or Service, you will be personally liable to pay the Purchase Price of that Product or Service to us in accordance with these Terms and Conditions.

2.2 Account Activation

To create a PayFlexi User Account, we may require that you provide us with your mobile phone number and prove that you have possession of that device by entering an OTP. User identification properties that we ask for include, but are not limited to, first and last name, address, and date of birth. We may also ask you to provide us with your Bank Verification Number (BVN). To finalize your User Account creation we may ask you to link a bank account to your PayFlexi User Account.

2.3 Account Security

PayFlexi identifies User Accounts by the mobile phone number linked to the User Account. We use 2-factor authentication to secure your Account. The first factor is a Personal Identification Number or PIN. This number is created by you and can be changed at any time in your Account Profile. The second factor we use is a One Time Password ("OTP") that we Short Message Service ("SMS") to your mobile phone number. The OTP proves that you have possession of your mobile phone number and the device you are using with PayFlexi Services. PayFlexi uses device identification techniques and algorithms to remove the need for the OTP when we recognize a previously identified and approved device.

3. Buy Now, Pay Later

3.1 The "Buy Now, Pay Later" Service.

PayFlexi "Buy Now, Pay Later" is a closed-end installment loan product with standard terms of 1 - 12 months (other terms may be available at select merchants) offered by PayFlexi. Loan term options may vary based on purchase price and merchant. "Buy Now, Pay Later" allows you to buy goods or services offered by merchants ("Merchants") for personal and business use. If you agree to use "Buy Now, Pay Later," PayFlexi will pay the Merchant on your behalf in exchange for your promise to repay the same amount plus a finance charge as determined by your creditworthiness.

3.2 Your Promise to Pay

Before completing any transaction on your behalf through any PayFlexi Services, PayFlexi will secure your promise to pay by disclosing all terms and conditions applicable to that transaction and securing your affirmative consent to those terms for that transaction, including your promise to pay the amount of the goods and services financed by the PayFlexi Merchant or PayFlexi. By accepting this Agreement and confirming the financing of any purchases through the PayFlexi Merchant or PayFlexi, you give us the right to collect any unpaid portions of the financed purchase.

3.3 Interest Rates

PayFlexi "Buy Now, Pay Later" rates range from 2.5% to 10% fixed monthly rate, depending on your creditworthiness. The interest payable by you to PayFlexi in relation any Loan shall be displayed by PayFlexi at the point of checkout. PayFlexi shall be entitled to set and charge interest rates, in connection with your use of the Services and from time to time amend or vary its interest rates for the Services.

3.4 PayFlexi's Role in the transaction

PayFlexi is not engaged in the sale of any goods or services financed by PayFlexi. PayFlexi does not have control of, or liability for, the products or services financed through the PayFlexi Services. We provide a service that allows you to finance your purchase from PayFlexi Merchants.. If you have a dispute with a PayFlexi Merchant, PayFlexi can provide a dispute resolution service in the PayFlexi User Account dashboard to aid in your dispute process.

4. Save To Buy (Target Savings or Pay Small Small)

4.1 The "Save To Buy" Service.

PayFlexi "Save To Buy" service can also be refered to as ("Target Savings", "Pay Small Small"). PayFlexi "Save To Buy" service lets you spread the cost of your purchases over a scheduled weekly or monthly payments which is set by the merchants, making buying what you want that much easier.

4.2 Payment of Deposit and Instalments.

At the point of purchase, you would be require to pay a minimum deposit of 20% of the total purchase price of the products/services. The merchant has the full right to set the minimum and maximum percentage they would accept upfront.

The merchant will also set the weekly or monthly schedules for subsequent payment which may defer based on the merchant preferences.

Based on the schedule you selected when making the purchase, PayFlexi will collect the instalment amount as at when due from your Account, Wallet, Card or your bank account on file. If you do not have sufficient funds in your Account, Wallet, Card or your bank account, you will be notified to fund your payment method on file.

4.3 Interest Rates

We charge no interest to you in connection with using your PayFlexi Account to make purchases with our "Save To Buy" service.

4.4 Service Charge

The "Save To Buy" service is subject to a service charge of 1% of the total purchase amount capped at N2,000. This charge is paid upfront when you make your first payment and shall be displayed by PayFlexi at the point of checkout.

4.5 Collection of Goods/Services on Full Payment

After successfully completing your payment. The merchant will automatically be notified to start the delivery of the goods/services. Delivery schedule may defer based on the item purchased and is subject to merchant terms and conditions which you would agreed on before making your first payment.

4.6 Canceling Transactions

If you decide to cancel the purchase anytime before the final payment, a cancellation charge of up 10% of the total order will be deducted from your account. This deduction will be made from all your payment towards that purchase till that point in time before the balance is refunded back to you.

4.7 Late Payment Fee

You will not be charged any late fees for any payment schedule before the final due date. However at the final due date, if you still have any outstanding payment, you may be charged a late payment fee of 5% of total order amount.

5. Partial Payment

5.1 The "Partial Payment" Service.

PayFlexi "Partial Payment" allows you to make payment for products/services in two installments. You pay an upfront amount as determined by the merchant, and the balance at a later date.

5.2 Payment of Deposit and Final Payment.

At the point of purchase, you would be require to pay a minimum deposit of 20% of the total purchase price of the products/services. The merchant has the full right to set the minimum and maximum percentage they would accept upfront.

The merchant will also set the date from the initial payment for the final payment.

PayFlexi will collect the final amount as at when due from your Account, Wallet, Card or your bank account on file. If you do not have sufficient funds in your Account, Wallet, Card or your bank account, you will be notified to fund your payment method on file.

5.3 Service Charge

The PayFlexi "Partial Payment" service is subject to a service charge of 1% of the total purchase amount capped at N2,000. This charge is paid upfront when you make your first payment and shall be displayed by PayFlexi at the point of checkout.

6. Cash Back

6.1 The "Cash Back" Service.

PayFlexi "Cash Back" service lets you earn rewards cash ("Cash") by making qualifying purchases at certain retail and service companies and through other promotions and offers that may be provided by merchants (“merchants,” whom we may also refer to as “partners”) or other merchants.

7. Group Deals

7.1 The "Group Deals" Service.

PayFlexi "Group Deals" service are short-time offers of items that may be deeply discounted and of limited availability by merchants.

  1. Deals can be set up with a duration that lasts anywhere between one (1) day and seven (7) days.
  2. Buyers can participate in a Group Deal by clicking on the Get Deal button in the Item Detail Page for that item. This is called "committing" to a Group Deal.

8. Liability

8.1 Your Liability

You are responsible for all Reversals, fees, fines, penalties and other liability incurred by PayFlexi, a User, a PayFlexi Merchant, or a third party caused by or arising out of your breach of this Agreement, and your use of the PayFlexi Services. You agree to reimburse PayFlexi, a User, or a third party for any and all such liability.

8.2 Reimbursement for Your Liability

If you are liable for any amounts owed to PayFlexi, you authorize PayFlexi to process and collect such amounts from your Account, Wallet, Card or your bank account on file. If you do not have sufficient funds in your Account, Wallet, Card or your bank account, you acknowledge that PayFlexi may engage in collection efforts to recover such amounts from you.

8.3 Actions by PayFlexi - Restricted Activities.

If PayFlexi, in its sole discretion, believes that you may have engaged in any Restricted Activities, we may take various actions to protect PayFlexi, PayFlexi Merchants, other Users, other third parties, or you from Reversals, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following:

  • We may close, suspend, or limit your access to your Account or the PayFlexi Services (such as limiting your ability to make payment, send money, make withdrawals, or remove financial Information);
  • We may contact Merchants you have interacted with, contact your bank, and warn other Users, law enforcement, or impacted third parties of your actions;
  • We may update inaccurate Information you provided us;
  • We may refuse to provide any or all PayFlexi Services to you in the future;
  • We may take legal action against you; and

PayFlexi, in its sole discretion, reserves the right to terminate this Agreement, your access to its website, your access to PayFlexi and all other PayFlexi Services for any reason and at any time upon notice to you.

8.4 Actions by PayFlexi - Court Orders or Other Legal Process.

PayFlexi, in its sole discretion, may take various actions including any limitation on your Account in the event it receives notice of a court order or other legal process that restricts the use of or access to your Account. PayFlexi will give notice of a limitation it makes to comply with a court order or other legal process, unless the court order or other process directs that PayFlexi does not provide you notice, in which case the court order or other process supersedes any notice obligation PayFlexi has undertaken or agreed to under the terms of this Agreement. PayFlexi has no obligation to contest or appeal from any such order or process. PayFlexi will decide in its sole discretion the appropriate scope of a limitation to assure compliance with a court order or other legal process.

8.5 Limitations of Liability.

IN NO EVENT SHALL WE, OUR PARENT AND AFFILIATES, AND THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF PAYFLEXI BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF DATA OR LOSS OF BUSINESS) ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, THE PAYFLEXI SERVICES, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE), UNLESS AND TO THE EXTENT PROHIBITED BY LAW. OUR LIABILITY, AND THE LIABILITY OF OUR PARENT AND AFFILIATES, AND OUR AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES. IN ADDITION, TO THE EXTENT PERMITTED BY APPLICABLE LAW, PAYFLEXI, OUR PARENT, AND AFFILIATES, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND SUPPLIERS ARE NOT LIABLE, AND YOU AGREE NOT TO HOLD THESE PARTIES RESPONSIBLE, FOR ANY DAMAGES OR LOSSES (INCLUDING, BUT NOT LIMITED TO, LOSS OF MONEY, GOODWILL, OR REPUTATION, PROFITS, OR OTHER INTANGIBLE LOSSES OR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES) RESULTING DIRECTLY OR INDIRECTLY FROM: (1) YOUR USE OF OR YOUR INABILITY TO USE PAYFLEXI’S SITES AND SERVICES; (2) DELAYS OR DISRUPTIONS IN PAYFLEXI’S SITES AND SERVICES; (3) VIRUSES OR OTHER MALICIOUS SOFTWARE OBTAINED BY ACCESSING PAYFLEXI’S SITES OR SERVICES OR ANY SITE OR SERVICE LINKED TO PAYFLEXI’S SITES OR SERVICES; (4) GLITCHES, BUGS, ERRORS, OR INACCURACIES OF ANY KIND IN PAYFLEXI’S SITES OR SERVICES OR IN THE INFORMATION AND GRAPHICS OBTAINED FROM THEM; (5) THE CONTENT, ACTIONS, OR INACTIONS OF THIRD PARTIES; (6) A SUSPENSION OR OTHER ACTION TAKEN WITH RESPECT TO YOUR ACCOUNT; (7) YOUR NEED TO MODIFY PRACTICES, CONTENT, OR BEHAVIOR, OR YOUR LOSS OF OR INABILITY TO DO BUSINESS, AS A RESULT OF CHANGES TO THIS USER AGREEMENT OR PAYFLEXI’S POLICIES. PAYFLEXI RESERVES THE RIGHT TO MODIFY ITS POLICIES AND THIS USER AGREEMENT AT ANY TIME CONSISTENT WITH THE PROVISIONS OUTLINED HEREIN.

9. Disputes With PayFlexi.

9.1 PayFlexi Contact.

If a dispute arises with PayFlexi, our goal is to learn about and address your concerns as soon as possible. Disputes with PayFlexi regarding the PayFlexi Services may be reported to support@payflexi.co or by calling 08109276123 from 9 AM to 5 PM GMT+1.

9.2 Applicable Law.

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

9.3 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 at the Lagos Multi-Door Courthouse (“LMDC”) and governed by the Arbitration and Conciliation Act, Cap A10, Laws of the Federal Republic of Nigeria. The arbitrator shall be appointed by both of us (we and you), where both of us are unable to agree on the choice of an arbitrator, the choice of arbitration shall be referred to the LMDC. The findings of the arbitrator and subsequent award shall be binding on both of us. Each of us shall bear our respective costs in connection with the Arbitration. Venue for the arbitration shall be Lagos, Nigeria.

9.4 Indemnification.

You agree to defend and indemnify us, and hold us and our affiliates harmless, and our and their respective directors, officers, agents, contractors, and employees against any losses, liabilities, claims, expenses (including legal fees) in any way arising from, related to or in connection with your use of our website, your violation of the Terms, or the posting or transmission of any materials on or through the website by you, including but not limited to, any third party claim that any information or materials provided by you infringe upon any third party proprietary rights.

9.5 No Waiver.

Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.

9.6 Assumption of Rights.

If PayFlexi pays out a Refund on a Dispute that you file against a PayFlexi Merchant, you agree that PayFlexi assumes your rights against the PayFlexi Merchant and third parties related to the payment, and may pursue those rights directly or on your behalf, in PayFlexi's discretion.

9.7 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.

10. General Provisions

10.1 Assignment.

You may not transfer or assign any rights or obligations you have under this Agreement without PayFlexi’s prior written consent. PayFlexi reserves the right to transfer or assign this Agreement or any right or obligation under this Agreement at any time.

10.2 Complete Agreement.

This Agreement, along with any applicable policies and agreements on the Legal Agreements page on the PayFlexi website, sets forth the entire understanding between you and PayFlexi with respect to the PayFlexi Services. Sections which by their nature should survive will survive the termination of this Agreement. Unless stated otherwise in this Agreement, if any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck, and the remaining provisions shall be enforced