Last updated 18th December, 2023.

Terms of Use

The website, www.korahq.com (Kora Site), is provided by Kora Payments Network Limited (Kora, we, us) under the following terms and conditions (“Terms”) as a contractual obligation between you and Kora. Your use of the Kora Site implies acceptance of the Terms.

Your use of any of our Services is subject to the Kora’s Privacy Policy, Cookies Policy (in the case of our website), Merchants Service Agreement, and any other legal agreements that apply to you as a Kora customer (collectively, the “Related Agreements''). You should review the terms in the Related Agreements carefully before continuing to use the Services.

If any conflict exists between the Terms and any Related Agreements, the specific terms of the Related Agreements shall apply with respect to the particular service being accessed by you to the extent of the conflict. We may amend these Terms at any time by posting a revised version on our website. The revised version will be effective at the time we post it unless otherwise noted. We will post a notification on our website of any amendments or revisions to these Terms. If our changes reduce your rights or increase your responsibilities, we will provide you with notice of 5 (five) days from the date of the publication

About Us

We are on a mission to democratise payments for all of Africa. Our ideology is that payments within, to and from Africa should be simple, seamless and fast.

For all purposes, we are an independent contractor, and our services are provided without any guarantee that you will achieve any result. We do not have control over, or assume the liability or legality, for the products or services that are paid for with our service.

Age Restriction

Our website and services are not directed to people under the ages of 18, or under the legal age of consent in any country where we provide our services. We do not knowingly transact or provide any services to people younger than the age of 18.

Representation and Warranties

As a business, you represent and warrant to us that:

a. You have full power and authority to enter into, execute, deliver and perform this Agreement;


b. You are duly organised, authorised and in good standing under the laws of any state, region or country of your organisation, and are duly authorised to do business in all the states, regions or countries in which your business operates.‍

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 Kora with these.

Registration

To use Kora, you have to create a Kora account by registering on the Kora Site. To register, we will require 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 parties), after which we will approve your account unless deemed risky. You give us permission to do all these. For further information on how we treat your registration data, please check our privacy notice.

Notification of Change

In the event that you change any information provided to us at registration including your business name, address, financial institution, mode of payments or the products and services that you offer, or where a corporate restructuring occurs you agree to notify us within 14 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.

Account Security



You agree not to allow anyone else to have or use your password details and to comply with all reasonable instructions we may issue regarding account access and security. In the event you share your password details, Kora will not be liable to you for losses or damages. You will also take all reasonable steps to protect the security of the personal electronic device through which you access Kora’s services (including, without limitation, using PIN and/or password protected personally configured device functionality to access Kora’s services and not sharing your device with other people).

Data Compliance and Protection

Kora recognizes the importance of protecting the privacy of those who visit and choose to use the Kora Services. Kora remains compliant with the Payment Card Industry Data Security Standard (PCI/DSS) requirement to the extent applicable. Please note that such requirements may be amended from time to time. With respect to all the Personal Information belonging to, and/or processed in connection with Kora or this website, such Personal Information at all times are in compliance with all Data Protections Laws in the territory, in all respect and in particular the Nigeria Data Protection Act 2023 and all applicable data protection regulation in force.
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Kora maintains a Privacy Notice which provides an overview of the Personal Information we collect about you or that you provide to us and how we store and use the information provided by you in line with applicable Data protection legislations. By using the Kora Services, you consent to such processing and you commit to provide accurate information. Kora acknowledges that you own all your customers’ data. You hereby grant Kora a perpetual, irrevocable, sub-licensable, assignable, worldwide, royalty-free license to use, reproduce, electronically distribute, and display your customer’s data for the following purposes:

a. providing and improving our services;

b. 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;
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c. 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

d. any other purpose for which consent has been provided by your customer.

Publicity

You hereby grant Kora 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:

a. is public knowledge at the time of disclosure by the disclosing party;

b. 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;

c. 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 is independently developed by the receiving party.
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As a condition to the receipt of the Confidential Information from the disclosing party, the receiving party shall:

a. not disclose in any manner, directly or indirectly, to any third party any portion of the disclosing party’s Confidential Information;


b. 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;

c. 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;

d. 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

e. 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.

Our Services

You understand that your use of the Services are subject to these Terms, the Related Agreements, as applicable, and the relevant rules, regulations, guidelines and circulars as published by the regulatory authorities from time to time. Therefore, we may impose necessary limits, restrictions and conditions on your use of the Services at any time with or without notice to you. We will not accept any liability for such limitations, restrictions and or conditions as they affect you or your business.
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Refund
Where any transaction fails or is not completed for any reason, we will, upon a written request received from you, refund the money (including any fees you were charged) through the original payment method you used for the transaction (i.e. credit card, debit card, or direct debit).
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Chargeback
We may require you to reimburse us for chargebacks where you have accepted payment under circumstances determined by us and the relevant payment scheme, and acceptable under the law and you undertake to respond to such requests in accordance with rules stipulated by us.
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Fees
The fees applicable to transactions conducted on our portals can be found in the relevant Related Agreement executed with us and will be disclosed to you in advance each time you initiate a transaction. You understand that where you use your credit card as the payment method when sending money, you may also be charged a cash-advance fee by your card issuer.

Disputes and Reversals

You agree to immediately notify us of any unauthorized or otherwise problematic transaction carried out using your account with us, to enable us take action to help prevent financial loss. All claims against us related to payments should be made within 45 (forty-five) days after the date of such payment. It will be taken that you waive all claims against us, to the fullest extent of the law after the said period of time.

Regardless, you understand and agree that we have no liability for goods and services paid for using our Services. Our only involvement with regard to such transactions is as a payment aggregator.
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We may intervene in disputes between users and merchants concerning payments but have no obligation to do so.
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Your will provide us with the relevant transaction ID and/or transaction details to enable us resolve all disputes

Intellectual Property

If you are using Kora software such as an API, developer’s toolkit or other software application, which may include software provided by or integrated with software, systems or services of our service providers, that you have downloaded or otherwise accessed through a web or mobile platform, then Kora grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited license to access and/or use Kora’s software in accordance with the documentation accompanying such software. This license grant applies to the software and all updates, upgrades, new versions and replacement software.
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You may not rent, lease or otherwise transfer your rights in the software to a third party. You must comply with the implementation, access and use requirements contained in all documentation accompanying the Services. If you do not comply with implementation, access and use requirements you will be liable for all resulting damages suffered by you, Kora and third parties. Kora may update or discontinue any software upon notice to you. While Kora may have (i) integrated certain third-party materials and technology into any web or other application, including its software, and/or (ii) accessed and used certain third-party materials and technology to facilitate providing you with the Services, you have not been granted and do not otherwise retain any rights in or to any such third-party materials. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the software or any third-party materials or technology, or otherwise create any derivative works from any of the software or third-party materials or technology.

You acknowledge that all rights, title and interest to Kora’s software are owned by Kora and any third-party materials integrated therein are owned by Kora’s third-party service providers. Any other third-party software application you use on theWebsite is subject to the license you agreed to with the third party that provides you with this software. You acknowledge that Kora does not own, control nor have any responsibility or liability for any such third-party software application you elect to use on any of our websites, software and/or in connection with the Services.

Trademark

www.korapay.com, www.korahq.com, "Kora,", “Korapay” and all logos related to the Services are either trademarks or registered trademarks of Kora or Kora's licensors. You may not copy, imitate, modify or use them without Kora's prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of Kora. You may not copy, imitate, modify or use them without our prior written consent. All right, title and interest in and to the Kora websites, any content thereon, the Services, the technology related to the Services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of Kora and its licensors.

Restricted Activities

In connection with your use of the Website, any of our Services, or in the course of your interactions with Kora, other Kora customers, or third parties, you must not:

a. Breach these Terms, the Kora Acceptable Use Policy, the Kora Privacy Policy, Merchant Service Agreement (if it applies to you), or any other agreement between you and Kora;

b. Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);

c. Infringe Kora’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;

d. Sell counterfeit goods;

e. Act in a manner that is defamatory, trade libelous, threatening or harassing;

f. Provide false, inaccurate or misleading information;

g. Send or receive what we reasonably believe to be potentially fraudulent funds;

h. Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;

i. Control an account that is linked to another account that has engaged in any of these restricted activities;

j. Conduct your business or use the Services in a manner that usually results in or may result in;



i. Complaints;

ii. fees, fines, penalties or other liability or losses to Kora, other Kora customers, third parties or you;


k. Use the Services in a manner that Kora, Central Bank of Nigeria (CBN) or any other regulatory agency, or any payment scheme reasonably believes to be an abuse of the card system or a violation of card association or network rules;

l. Access the Services from a country that is not included on Kora’s permitted countries list;

m. Take any action that imposes an unreasonable or disproportionately large load on the Websites, our software or systems (including any networks and servers used to provide the Services) operated by us or on our behalf, or the Services;

n. Facilitate any viruses, trojan horses, malware, worms or other computer programming routines that attempts to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorized access to any system, data, information or the Services;

o. Use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our websites without our prior written permission; or use any device, software or routine to bypass our robot exclusion headers;

p. Interfere or disrupt or attempt to interfere with or disrupt the Website, our software, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf, any of the Services or other users’ use of any of the Services;

q. Take any action that may cause us to lose any of the services from our internet service providers, payment processors, or other suppliers or service providers;

r. Use the Services to test credit card behaviors;

s. Circumvent any Kora policy or determinations about your use of the Services such as temporary or indefinite suspensions or other limitations or restrictions; or

t. Harass and/or threaten our employees, agents, or other users.

Potential Actions we May Take Against You if you Engage in a Restricted Activity

If we believe, discover, or get information that you have engaged in any of the restricted activities listed in paragraph 3 above, we have the exclusive and unqualified prerogative to any action including but not limited to the ones under-listed, to protect Kora, its customers and others at any time in our sole discretion.

a. Terminate these Terms, and limit, close and/or suspend your access to the Services, software, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf, immediately and without penalty to us;

b. Refuse to provide the Services to you in the future;

c. Contact third parties who have transacted with you or law enforcement about your actions;

d. Update inaccurate information you provided us;

e. Take legal action against you; or

f. If you violated our Acceptable Use Policy, then you’re also responsible for damages to Kora caused by your violation of this policy.

If we terminate your use of the Services for any reason, we’ll provide you with notice of our actions.
You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by Kora, any Kora customer, or a third party caused by or arising out of your breach of this agreement, and/or your use of the Kora services.

Assignment

You may not transfer or assign any rights or obligations you have under these Terms or the Related Agreements without Kora’s prior written consent. Kora may transfer or assign these Terms or any right or obligation under these Terms at any time.

Fraud Reporting

We are committed to maintaining adequate security controls and procedures to prevent and detect fraudulent or unauthorized activities/transactions on our platforms. Please report all incidents of fraud to [email protected].

Termination

You may terminate this Agreement by closing your Kora Account.
We may suspend your Kora Account and your access to Kora services and any funds, or terminate this Agreement, if;

a. you do not comply with any of the provisions of this Agreement;
b. we are required to do so by a Law;
c. we are directed by the issuing financial institution; or
d. where a suspicious or fraudulent transaction occurs

Disclaimers

We try to keep the Website available at all times, bug-free and safe, however, you use it at your own risk.

The 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, Kora makes no warranty that the Website and/or the Services will meet your requirements or that the 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 Kora, 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 “Kora Parties”) shall create any warranty.

Limitation of Liability

In no event will any of the Kora Parties be liable for (a) any indirect, special, consequential, punitive, or exemplary damages or (b) any damages whatsoever in excess of the amount of the transaction or twenty thousand United States Dollars (US$20,000.00) dollars, whichever is lesser (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 the Website or Services (including, without limitation, use, inability to use, or the results of use of the Websites or Services), whether such damages are based on warranty, contract, tort, statute, or any other legal theory.

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 of the Kora Parties 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 Kora’s Party's liability shall be the minimum permitted under such applicable law.

Indemnification

You hereby indemnify Kora and undertake to keep Kora, its staff and affiliates indemnified against any losses, damages, costs, liabilities and expenses (including without limitation reasonable legal fees and expenses) arising out of any breach by you of any provision of these Terms, or arising out of any claim that you have breached any provision of these Terms. You will indemnify and hold Kora harmless from and against any claim, suit or proceedings brought against Kora arising from or in connection with violations of Intellectual Property or other rights of third parties in relation to your use of the Services.

Applicable Law

These Terms shall be interpreted and governed by the laws currently in force in the Federal Republic of Nigeria and you submit to the non-exclusive jurisdiction of the courts located in Nigeria for the resolution of any dispute.

Legal Disputes

We shall make an effort to settle all disputes amicably. Any dispute arising out of these Terms which is not settled by mutual agreement/negotiation within 2 (two) weeks shall be referred to court of competent jurisdiction in Lagos, Nigeria.

No class action shall be valid against Kora, except in instances where the law prohibits the restriction of class actions.

Court Orders and Regulatory Requirements

If we are notified of a court order or other legal process (including garnishment or any equivalent process) affecting you, or if we otherwise believe we are required to do so in order to comply with applicable law or regulatory requirements, we may be required to take certain actions, including holding payments to/from you, placing a reserve or limitation on your Kora account, or releasing your funds. We will decide, in our sole discretion, which action is required of us. Unless the court order, applicable law, regulatory requirement or other legal process requires otherwise, we will notify you of these actions. We do not have an obligation to contest or appeal any court order or legal process involving you or your Kora account. When we implement a hold, reserve or limitation as a result of a court order, applicable law, regulatory requirement or other legal process, the hold, reserve or limitation may remain in place longer than 180 days.

Severability

If any portion of these Terms 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 and shall not affect the validity or enforceability of any other part in these Terms.

Contact Information

If you have any questions about our Terms of Use, please contact us through any of the details provided below:

Email: [email protected]