Terms & Conditions

Effective Date: 5 January 2026 | Last Updated: 5 January 2026

Welcome to OT-PAY. These Terms & Conditions ("Terms") constitute a legally binding agreement between you ("User," "Merchant," or "you") and OT-PAY ("we," "us," or "the Platform") governing your access to and use of our payment gateway platform and all related services. By creating an account, accessing, or using any part of the Platform, you acknowledge that you have read, understood, and agree to be bound by these Terms in their entirety. If you do not agree, you must discontinue use of the Platform immediately.

1. Scope of Services

OT-PAY provides payment processing, wallet management, and related financial services to registered merchants and users. You agree to use the Platform solely for lawful, legitimate business transactions and to provide accurate, complete, and up-to-date information during registration and throughout your use of the service.

2. Account Responsibility

You are solely responsible for maintaining the confidentiality of your login credentials and for all activities that occur under your account. You must notify OT-PAY immediately upon discovering or suspecting any unauthorised access to your account. OT-PAY shall not be held liable for any loss or damage arising from your failure to safeguard your account credentials.

3. Fees and Charges

Transaction fees, settlement charges, and any other applicable costs shall be levied as disclosed to you during onboarding or as published on our pricing page. The current fee schedule is as follows:

Inward Transactions (Collections):
- Amounts below ₦3,000: ₦20 per transaction
- Amounts from ₦3,000 to ₦10,000: ₦30 per transaction
- Amounts above ₦10,000: ₦50 per transaction
Outward Transactions (Disbursements): ₦20 per transaction

OT-PAY reserves the right to revise these fees at any time. Where required by applicable law, prior notice shall be provided before any fee changes take effect.

4. Adding Funds to Wallet

Important — Wallet Funding Requirements:

When adding funds to your OT-PAY wallet via bank transfer, you must comply with the following requirements:

Name Matching: The originating bank account must bear the same name (personal or business name) used during your OT-PAY registration. Transfers from third-party accounts will not be automatically credited.
Business ID as Remarks/Note: You must enter your unique Business ID in the Remarks or Note field of the bank transfer. This is required for automatic reconciliation of your payment.

Non-compliance: Failure to adhere to either of the above requirements will trigger a manual verification process. Manual verification is not limited to payment confirmation alone — it may also include a full business verification review at OT-PAY's discretion. Depending on the outcome of this review, processing may take between 24 hours and up to 30 days, after which the payment will either be approved or rejected and returned to the originating account.

Purpose: These measures are strictly enforced as part of our fraud prevention and anti-money laundering (AML) obligations to ensure the safety and integrity of all transactions processed through our Platform.

5. Withdrawals

          Withdrawal Processing Schedule: Withdrawals from merchant accounts are processed exclusively on business days between 5:00 AM and 9:00 AM (WAT). Requests submitted outside this window, or during weekends and public holidays, will be queued and processed in the next available business-day batch. Please ensure that all withdrawal requests meet the applicable minimum amount thresholds and verification requirements prior to submission.
        

6. Prohibited Activities

You shall not use OT-PAY to facilitate, directly or indirectly, any illegal activity, money laundering, terrorist financing, fraud, or any transaction that violates applicable laws, regulations, or OT-PAY's internal policies. OT-PAY reserves the right to report suspicious activity to the relevant authorities and to take immediate action, including account suspension, where prohibited activity is detected or reasonably suspected.

7. Privacy & Data Protection

We collect, process, and store personal data in accordance with our Privacy Policy and applicable data protection regulations. By using OT-PAY, you consent to such data processing as described in the Privacy Policy. We are committed to protecting your personal information and implement appropriate technical and organisational measures to safeguard your data.

8. Disputes & Chargebacks

Merchants are required to cooperate fully with OT-PAY and partner financial institutions during chargeback and dispute investigations. You acknowledge that you may be held liable for chargeback amounts and any associated fees if the investigation determines that the merchant is at fault. OT-PAY reserves the right to debit disputed amounts from your wallet or withhold settlement funds pending resolution.

9. Suspension & Termination

OT-PAY may, at its sole discretion, suspend, restrict, or terminate your account for suspected fraudulent activity, breach of these Terms, non-compliance with applicable laws, or as otherwise required by law or regulatory directive. Termination of your account does not relieve you of any outstanding financial obligations owed to OT-PAY.

10. Limitation of Liability

To the maximum extent permitted by applicable law, OT-PAY, its directors, officers, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from or in connection with your use of the Platform, including but not limited to loss of revenue, data, or business opportunity.

11. Indemnification

You agree to indemnify, defend, and hold harmless OT-PAY and its affiliates from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or related to your use of the Platform, your violation of these Terms, or your violation of any applicable law or regulation.

12. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any disputes arising under these Terms shall be subject to the exclusive jurisdiction of the courts of Nigeria.

13. Amendments to Terms

OT-PAY reserves the right to amend or update these Terms at any time. Material changes will be communicated through the Platform or via your registered email address. Your continued use of the Platform following any amendment constitutes your acceptance of the revised Terms. It is your responsibility to review these Terms periodically.

14. Contact

For questions, concerns, or disputes regarding these Terms, please contact our support team through the Platform or via the contact details provided on our website.