Terms of Use

By accessing or using the THEPARKPAY Platform (the “Platform”), you agree to these Terms of Use (“Terms”). If you do not agree to these Terms, you must immediately cease all use of the Platform. We recommend that you save or print a copy of these Terms for your records.

These Terms constitute a legally binding agreement between you (“Customer”, “you”, or “your”) and THEPARKPAY Technologies Limited (“we”, “us”, or “our”).

PLEASE READ AND UNDERSTAND THE TERMS OF AGREEMENT CAREFULLY BEFORE AGREEING TO BE BOUND BY ITS TERMS.

The governing language of these terms and all communication between THEPARKPAY and you will be English language.

“Platform” — THEPARKPAY mobile application, website, dashboard and any associated services.

“Services” — Cross-border payment solutions, including receipt of foreign funds, conversion to NGN and settlement to Nigerian bank accounts.

“Customer” — Eligible businesses and individuals who have completed Know Your Customer (KYC) and been approved to use the Services.

“Business Day” — Any day (other than Saturday, Sunday, or a public holiday in Nigeria or the United States) on which commercial banks in Nigeria are open for business.

“KYC” — Know Your Customer verification (and KYB for businesses) as required by the Central Bank of Nigeria (CBN) and AML laws.

“Prohibited Activities / Countries / Industries” — Activities, jurisdictions or sectors prohibited by us, CBN regulations, AML laws, or sanctions rules (updated from time to time and published on the Platform).

“NGN” — Nigerian Naira.

“Data Protection Laws” — Nigeria Data Protection Act 2023 (NDPA), Nigeria Data Protection Regulation 2019 (NDPR), and all related laws.

a. You must be a legally registered business or an individual of legal age (18 years and above) with full capacity and authority to enter into these Terms.

b. You must successfully complete our KYC (or KYB for businesses) process and provide accurate, complete and up-to-date information at all times.

c. We reserve the right to refuse, suspend or permanently close any account at our sole discretion if we suspect fraud, money laundering, terrorist financing, sanctions violations, or non-compliance with regulatory requirements.

d. You are solely responsible for maintaining the confidentiality and security of your login credentials and must notify us immediately of any unauthorized access or suspected security breach.

THEPARKPAY Technologies provides cross-border payment solutions that enable eligible businesses and individuals to receive foreign currency payments from abroad and have them converted into NGN for settlement into designated Nigerian bank accounts.

All Services are subject to:

• Successful completion of KYC/KYB and ongoing due diligence

• Compliance with applicable CBN regulations on inbound cross-border payments and foreign exchange

• Availability of settlement channels

• Applicable exchange rates clearly displayed on the Platform at the time of transaction

Transactions are processed on a principal-to-principal basis.

Important: THEPARKPAY Technologies does not support, facilitate, or engage in any cryptocurrency, virtual asset, or unregulated payment transactions.

We grant you a non-assignable, non-exclusive and revocable license to use the software provided as part of our Services in the manner permitted by these Terms. This license grant includes all updates, upgrades, new versions and replacement software for your use in connection with our Services.

The Services are protected by copyright, trademark, and other laws of Nigeria and other countries. Nothing in these Terms gives you a right to use the THEPARKPAY name or any of THEPARKPAY’s trademarks, logos, domain names, and other distinctive brand features. All right, title and interest in and to the Services are and will remain the exclusive property of THEPARKPAY and its licensors.

If you do not comply with all the provisions, then you will be liable for all resulting damages suffered by you, THEPARKPAY and all third parties. Unless otherwise provided by applicable law, you agree not to alter, re-design, reproduce, adapt, display, distribute, translate, disassemble, reverse engineer, or otherwise attempt to create any source code that is derived from the software.

Any feedback, comments, or suggestions you may provide to us and our Services is entirely voluntary and we will be free to use such feedback, comments or suggestions as we see fit without any obligation to you.

You are responsible for configuring your information technology, computer programmes and platform in order to access our Services. Please ensure you use your virus protection software or application as we cannot guarantee that our Services will be free from viruses or bugs.

You must not attempt to gain unauthorized access to our Services, computers or databases. You must not misuse our Services by introducing trojans, viruses or other materials which are malicious or technologically harmful.

a. All applicable fees, charges, and exchange rates will be clearly displayed before you confirm any transaction. You are responsible for reviewing them carefully.

b. Once confirmed, transactions are generally irrevocable.

c. We will use reasonable efforts to settle approved inbound payments to your nominated Nigerian bank account within two (2) Business Days. Delays may occur due to compliance reviews, regulatory requirements, or banking processes. We are not liable for such delays.

d. You shall bear any charges imposed by your receiving bank or intermediary institutions.

You warrant and undertake that:

a. All information and documents you provide are true, accurate, complete, and up-to-date.

b. You will use the Services only for lawful purposes and in full compliance with Nigerian law, CBN regulations, AML/CFT laws, sanctions requirements, and these Terms.

c. You will not use the Services for any Prohibited Activities, including transactions linked to Prohibited Countries or Prohibited Industries.

d. You will promptly notify us and update your KYC/KYB information whenever requested or upon any material change in your circumstances.

e. You will not reverse-engineer, decompile, tamper with, or attempt to circumvent any security or technical features of the Platform.

f. You are solely responsible for any taxes, duties, or regulatory filings arising from your use of the Services.

You agree not to engage in or facilitate:

• Fraudulent, illegal, suspicious, or sanctioned activities

• Any conduct that violates anti-money laundering, counter-terrorist financing, or sanctions laws

• Provision of false or misleading information

• Circumvention of our compliance or security controls

• Use of the Services on behalf of unauthorized third parties without our prior written consent

We may immediately suspend or terminate your access if we reasonably suspect a breach of this section. You will not be entitled to compensation for any resulting delay or loss.

a. Cross-border payments and foreign currency conversion involve risks, including exchange rate fluctuations and potential settlement delays. You acknowledge and accept that you bear the full risk of any loss arising from these factors.

b. Use of the THEPARKPAY website and services is at your own risk. You agree to the limitation of liability clause to the maximum extent permitted by applicable law. THEPARKPAY will in no way be liable for any direct, indirect, incidental, punitive, consequential, special, or exemplary damages, including damages resulting from loss of revenue, profit, use, data, goodwill, business interruption, or any other intangible losses (whether THEPARKPAY has been advised of the possibility of such damages or not), arising out of or in connection with the use of, or inability to use, THEPARKPAY’s website or services, whether such damages are based on warranty, tort, contract, statute, or any other legal theory. Some jurisdictions do not allow the exclusion of certain warranties or limitations on the scope and duration of such warranties, so the above disclaimers may not apply to you in their entirety, but shall apply to the maximum extent permitted by applicable law.

c. We do not guarantee uninterrupted or error-free operation of the Platform.

You agree to indemnify, defend and hold harmless THEPARKPAY Technologies, its directors, officers, employees and agents from and against any claims, losses, liabilities, damages, costs and expenses (including reasonable legal fees) arising from your breach of these Terms, violation of applicable law, negligence, fraud or willful misconduct. You will indemnify and hold THEPARKPAY harmless from and against any claim, suit or proceedings brought against THEPARKPAY arising from or in connection with violations of intellectual property or other rights of third parties in relation to your use of the Services.

Without prejudice to THEPARKPAY’s other rights under these Terms, if you breach these Terms in any way, THEPARKPAY may take such action as THEPARKPAY deems appropriate to deal with the breach, including suspending your access to the website, prohibiting you from accessing the website, blocking computers using your IP address from accessing the website, contacting your internet service provider requesting that your access to the website be blocked and/or bringing court proceedings against you.

You consent to our collection, processing, storage, and disclosure of your data as necessary to provide the Services, comply with regulatory obligations (including CBN and AML requirements), and prevent fraud. All data handling will be in accordance with our Privacy Policy, the NDPA, and NDPR.

All intellectual property rights in the Platform, software, designs, logos and content belong exclusively to THEPARKPAY Technologies or its licensors. You are granted a limited, non-exclusive, non-transferable, revocable license to use the Platform solely for your internal purposes during the term of these Terms. You may not copy, modify, distribute or create derivative works.

Like many other websites, we use cookies to identify you as a user and to customize and improve our Services. Please refer to our Cookies Notice for more information.

THEPARKPAY recognizes the importance of protecting the privacy of those who visit and choose to use our Services. THEPARKPAY maintains a Privacy Notice which provides an overview of the Personal Information we collect about you or that you provide to us. Please refer to our Privacy Policy Notice for more information.

a. These Terms commence upon your acceptance or first use of the Platform and continue until terminated.

b. We may immediately suspend or terminate your access if you breach these Terms, fail to maintain valid KYC, or if continued provision of Services poses regulatory, legal, or reputational risk.

c. You may terminate your agreement with THEPARKPAY by ceasing to use our services. We may suspend or terminate our Services to you at any time, for any reason including without limitation, breach of these Terms, fraud, impersonation, etc.

Upon termination, your right to use our Services or platform will immediately cease.

The clauses on liability, indemnity, confidentiality, and data protection shall survive termination.

We shall not be liable for any delay or failure to perform due to events beyond our reasonable control, including regulatory changes, government actions, pandemics, or technical failures. Your payment obligations are not excused by force majeure.

THEPARKPAY reserves the right to change, revise or modify these Terms from time to time by updating this page. The changes will not be retroactive and the most current version of the Terms which will always be on this page, will continue to govern our relationship with you. We will also endeavor to notify you of any material changes which could be done via email associated with your account or service notification. By continuing to use our Services after the changes become effective, you agree to be bound by the revised Terms.

a. These Terms shall be governed by the laws of the Federal Republic of Nigeria.

b. You submit to the non-exclusive jurisdiction of the Courts located in Nigeria for the resolution of any dispute.

• Entire Agreement: These Terms constitute the entire agreement between the parties.

• Amendments: We may update these Terms from time to time. Continued use of the Platform after changes constitutes your acceptance of the revised Terms.

• In the event that any of these Terms is held to be invalid or unenforceable, then that provision will be limited or eliminated to the minimum extent necessary, and the remaining provisions of these Terms will remain subsisting and in full effect. THEPARKPAY’s failure to enforce any right or provision of these Terms will not be deemed a waiver of such right or provision. You may not assign your rights or obligations without our prior written consent.

• Notices: All notices will be sent to the email address associated with your account.

By clicking “I Agree”, accessing, or using THEPARKPAY Technologies, you confirm that you have read, understood, and agree to be bound by these Terms of Use.

Questions or support? Contact us via the in-app support or at info@theparkpay.com.