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Merchant Service Agreement

Effective Date: July 3, 2025

This Merchant Service Agreement ("Agreement") is entered into between MyBundlePay LTD ("MyBundlePay", "we", "our", or "us"), a company duly incorporated under the laws of the Federal Republic of Nigeria with RC No. 8179333, and the individual or entity registering for or using the MyBundlePay Platform ("Merchant", "you", or "your").

By creating a merchant account, integrating our APIs, or using any MyBundlePay service, you acknowledge that you have read, understood, and agree to be legally bound by this Agreement.

1. Scope of Agreement

This Agreement governs your access to and use of the MyBundlePay merchant platform, including all related payment processing services, payment gateway services, APIs, wallets, virtual card services, settlements, reporting tools, and any additional products or services made available by MyBundlePay.

2. Eligibility

To use the Platform, you represent and warrant that:

  • You have the legal authority to enter into this Agreement.

  • All information provided during registration is accurate, complete, and current.

  • Your business complies with all applicable laws and regulations.

  • You will promptly update any information that changes.

MyBundlePay reserves the right to request additional information or documentation at any time.

3. Merchant Verification

You agree to complete any Know Your Customer (KYC), Know Your Business (KYB), Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), sanctions screening, or other compliance procedures required by MyBundlePay or applicable law.

Verification documents may include, but are not limited to:

  • CAC registration documents

  • Government-issued identification

  • Proof of address

  • Business ownership information

  • Tax identification details

  • Any additional documents reasonably requested by MyBundlePay

Failure to complete verification may result in restricted access, suspension, or termination of your account.

4. Services

Subject to this Agreement, MyBundlePay may provide one or more of the following services:

  • Payment Gateway

  • Wallet Services

  • Bank Transfer Collections

  • Card Payment Processing

  • USSD Payment Processing

  • Virtual Card Services

  • API Access

  • Airtime and Bill Payment APIs

  • Merchant Dashboard

  • Settlement Services

  • Additional financial technology services introduced from time to time

The availability of any service may vary by jurisdiction, compliance status, or business category.

5. Merchant Responsibilities

You agree to:

  • Use the Platform only for lawful business purposes.

  • Maintain accurate account information.

  • Protect your login credentials and API keys.

  • Implement appropriate security measures within your systems.

  • Comply with all applicable laws, regulations, and industry standards.

  • Cooperate with compliance reviews and investigations.

  • Promptly notify MyBundlePay of any unauthorized access or security incident.

You are solely responsible for your products, services, customer support, pricing, taxes, and fulfillment obligations.

6. Prohibited Activities

You shall not use the Platform for activities involving:

  • Fraud or deceptive practices

  • Money laundering or terrorist financing

  • Sanctioned individuals or entities

  • Illegal gambling

  • Child exploitation

  • Human trafficking

  • Counterfeit goods

  • Intellectual property infringement

  • Unauthorized financial services

  • Any business prohibited by Nigerian law or MyBundlePay's Acceptable Use Policy

MyBundlePay may suspend or terminate accounts engaged in prohibited activities without prior notice.

7. Fees

Transaction fees, settlement fees, API pricing, and any applicable charges shall be communicated through the Merchant Dashboard, pricing schedule, or other official MyBundlePay communication.

MyBundlePay reserves the right to modify its pricing by providing reasonable notice where required.

8. Settlements

Approved transactions will be settled in accordance with the settlement schedule applicable to your account.

Settlement times may vary due to:

  • Compliance reviews

  • Banking network delays

  • Public holidays

  • Third-party payment providers

  • Regulatory requirements

  • Risk investigations

MyBundlePay may delay settlements where necessary to investigate suspicious activity, chargebacks, fraud, or legal obligations.

9. Chargebacks, Refunds and Disputes

Merchants remain responsible for disputes relating to the products or services they sell.

MyBundlePay may:

  • Investigate disputed transactions.

  • Reverse settlements where legally permitted.

  • Hold settlement funds while disputes are investigated.

  • Require merchants to provide supporting documentation.

Refunds shall be processed in accordance with the MyBundlePay Refund Policy.

10. Virtual Card Services

Where Virtual Card services are made available:

  • Funding requests are processed through licensed financial infrastructure partners.

  • Card availability may depend on provider policies.

  • Merchant authorization holds remain the responsibility of the merchant accepting the card.

  • Refund timelines for merchant-initiated refunds are determined by the merchant and applicable card networks.

MyBundlePay does not guarantee merchant acceptance of any card.

11. API Services

API access is provided solely for integrating approved business applications.

Merchants agree to:

  • Protect API credentials.

  • Prevent unauthorized access.

  • Implement reasonable security controls.

  • Respect API usage limits.

  • Avoid abusive or automated misuse of the Platform.

MyBundlePay may suspend API access where misuse, excessive traffic, or security risks are detected.

12. Compliance Monitoring

MyBundlePay reserves the right to monitor transactions for:

  • Fraud prevention

  • AML/CFT compliance

  • Regulatory reporting

  • Risk management

  • Security purposes

Where required by law, MyBundlePay may report suspicious activities to relevant regulatory or law enforcement authorities.

13. Suspension and Termination

MyBundlePay may suspend, restrict, or terminate your account immediately where:

  • Fraud is suspected.

  • Regulatory obligations require action.

  • False information was provided.

  • This Agreement has been breached.

  • Continued access presents legal, financial, or reputational risk.

Termination does not relieve either party of obligations arising before termination.

14. Data Protection

Both parties shall comply with applicable data protection and privacy laws, including the Nigeria Data Protection Act (NDPA) and other applicable regulations.

Merchants must not store, process, or disclose sensitive payment credentials except as expressly permitted by law and applicable security standards.

15. Intellectual Property

All intellectual property rights relating to the MyBundlePay Platform, trademarks, software, APIs, documentation, and branding remain the exclusive property of MyBundlePay or its licensors.

Nothing in this Agreement transfers ownership of any intellectual property.

16. Confidentiality

Each party agrees to keep confidential any non-public information obtained through this Agreement and shall not disclose such information except where required by law or with prior written consent.

17. Limitation of Liability

To the fullest extent permitted by applicable law, MyBundlePay shall not be liable for any indirect, incidental, consequential, special, punitive, or exemplary damages arising from:

  • Third-party service interruptions

  • Banking system failures

  • Internet outages

  • Regulatory actions

  • Force majeure events

  • Merchant errors

  • Customer disputes

MyBundlePay's total liability under this Agreement shall not exceed the total fees paid by the Merchant to MyBundlePay during the three (3) months immediately preceding the event giving rise to the claim, except where prohibited by law.

18. Indemnification

You agree to indemnify and hold harmless MyBundlePay, its directors, officers, employees, affiliates, and partners from any claims, liabilities, losses, damages, costs, or expenses arising from:

  • Your breach of this Agreement;

  • Your products or services;

  • Your negligence or misconduct;

  • Violation of applicable laws or third-party rights.

19. Force Majeure

Neither party shall be liable for delays or failure to perform obligations resulting from events beyond its reasonable control, including natural disasters, governmental actions, war, terrorism, labor disputes, banking failures, telecommunications failures, cyberattacks, or widespread internet outages.

20. Amendments

MyBundlePay may amend this Agreement from time to time.

Updated versions will be published on the Platform or website. Continued use of the Services after publication constitutes acceptance of the revised Agreement.

21. Governing Law

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

Any dispute arising out of or relating to this Agreement shall be subject to the exclusive jurisdiction of the competent courts of Nigeria, unless otherwise required by applicable law.

22. Contact Information

For questions regarding this Agreement, please contact:

MyBundlePay LTD

Email: [email protected]

Phone: +234 916 848 5853

In-App Support: Available through the MyBundlePay Platform