1. Acceptance of Terms
By creating a merchant account, accessing our APIs, or utilizing BettaPay payment infrastructure, you ("Merchant" or "User") agree to be legally bound by these Terms of Service. If you are entering into this agreement on behalf of a corporate entity, you represent that you possess full authority to bind such entity.
2. Description of Services
BettaPay provides non-custodial digital payment gateway software, checkout interfaces, payment link generators, and SEP-24 Stellar anchor routing services. Our platform enables merchants to accept digital assets (including USDC and XLM) and automatically trigger fiat conversions into local currency bank accounts. BettaPay does not directly hold merchant funds or operate as a fractional reserve bank.
3. Merchant Obligations
As a merchant utilizing our platform, you agree to:
- Provide accurate, complete, and verifiable KYC business identification data during onboarding.
- Comply with all applicable trade laws, export controls, and Anti-Money Laundering (AML) regulations.
- Refrain from using BettaPay for prohibited activities, including illegal gambling, unauthorized pharmaceuticals, counterfeit goods, or deceptive marketing.
- Maintain the strict security of your API keys, webhook signing secrets, and non-custodial wallet credentials.
4. Fees & Payment
BettaPay charges transaction processing fees as specified in your merchant agreement or public pricing schedule. Platform fees and partner SEP-24 anchor conversion markups are deducted automatically at the moment of payment settlement. All fee schedules are transparently displayed prior to transaction execution.
5. Intellectual Property
All patents, trademarks, service marks, software codebases, documentation, logos, and UI designs associated with BettaPay remain the exclusive property of BettaPay Technologies Inc. Subject to compliance with these terms, we grant merchants a limited, revocable, non-exclusive license to integrate our APIs and display checkout badges.
6. Confidentiality
Each party agrees to safeguard non-public information, proprietary source code, security credentials, and commercial terms disclosed by the other party with the same degree of care used for its own confidential assets.
7. Term & Termination
This agreement commences upon account registration and continues until terminated. Either party may terminate this agreement at any time with 30 days written notice. BettaPay reserves the right to immediately suspend or terminate account access in cases of suspected fraud, regulatory mandate, or material breach of terms.
8. Warranty Disclaimer
The services, APIs, and payment links are provided on an "AS IS" and "AS AVAILABLE" basis without warranties of any kind, whether express or implied, including warranties of merchantability, fitness for a particular purpose, or non-infringement. We do not guarantee uninterrupted blockchain network connectivity.
9. Limitation of Liability
To the maximum extent permitted by law, BettaPay Technologies Inc. shall not be liable for indirect, incidental, punitive, or consequential damages, loss of profits, blockchain network congestion losses, or unauthorized key compromises. Our cumulative aggregate liability shall not exceed the fees paid by merchant to BettaPay in the preceding 6-month period.
10. Indemnification
Merchant agrees to defend, indemnify, and hold harmless BettaPay, its directors, officers, employees, and anchor partners against any third-party claims, damages, liabilities, or expenses arising from merchant's breach of these terms, illegal sales activity, or violation of consumer protection laws.
11. Governing Law
These terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without giving effect to conflicts of law principles.
12. Dispute Resolution
Any controversy or claim arising out of or relating to this agreement shall be submitted to binding arbitration under the rules of the Lagos Court of Arbitration. Arbitral proceedings shall take place in English, and the award rendered shall be final and enforceable in any court of competent jurisdiction.
13. General Provisions
If any provision of these terms is deemed unenforceable, the remaining provisions shall remain in full force. Failure to enforce any right does not constitute a waiver. These terms, together with our Privacy Policy, constitute the entire agreement between the parties.