Terms of Service

Welcome to BorderPay Velocity

These Terms of Service ("Terms") govern your access to and use of the BorderPay mobile application, website (borderpayafrica.com or any affiliated sites), and related services (collectively, the "Services") provided by BorderPay Africa, Inc. ("BorderPay," "we," "us," or "our").

By accessing or using the Services, you ("User," "you," or "your") agree to be bound by these Terms, our Privacy Policy (incorporated herein by reference), and our AML/KYC Policy. If you are using the Services on behalf of a business or entity, you represent that you have the authority to bind that entity to these Terms.

BorderPay Africa, Inc. is a B2B global financial platform serving eligible businesses worldwide except in restricted jurisdictions. All new onboarding is restricted to eligible businesses. These Terms continue to govern previously provided Services where applicable. These Terms are governed by the laws of the State of Delaware, USA. Money movement, verification, and account access use regulated financial infrastructure. All user-facing branding, design, logo, and frontend elements (including the app interface and website) are owned and operated exclusively by BorderPay Africa, Inc.

If you do not agree to these Terms, you must not use the Services. We may update these Terms at any time; continued use constitutes acceptance of changes.

1. Eligibility and Geographic Scope

1.1 Global Service

BorderPay Africa, Inc. provides global financial infrastructure to eligible businesses. BorderPay does not onboard consumers. Business entities must complete the applicable business and ownership checks.

1.2 Restricted Jurisdictions

Due to international sanctions, compliance requirements, or regulatory restrictions, we may not be able to onboard users from certain jurisdictions or those appearing on OFAC, UN, EU, or AU sanctions lists. This includes individuals or entities involved in terrorism financing, money laundering, or other prohibited activities.

1.4 Age and Capacity

You must be at least 18 years old (or the age of majority in your jurisdiction) to use the Services. By registering, you represent that you meet this requirement and are not barred from using the Services under applicable law.

1.5 Account Registration

Direct applicants must create a Business account and provide accurate contact, entity, ownership, and verification information. Identity checks for directors, beneficial owners and authorised representatives do not create consumer accounts. You agree to:

• Keep your account credentials confidential and secure
• Notify us immediately of any unauthorized access or use
• Be fully responsible for all activity under your account
• Provide only government-issued identification documents

We reserve the right to suspend or terminate accounts for violations, fraud, suspicious activity, or at our discretion. Under applicable anti-money laundering regulations, we may report suspected illegal activity to relevant authorities.

2. Identity Verification Requirements (KYC)

2.1 Government-Issued Identity Documents

BorderPay Africa, Inc. accepts government-issued identity documents from supported jurisdictions. We verify your identity using documents issued by your government:

2.2 Verification Process

Identity verification is handled through regulated KYC and AML verification infrastructure. The verification process:

• Typically completes within 5-15 minutes
• Requires a clear photo of your government-issued ID document
• May require a selfie for biometric verification
• Fully compliant with applicable AML regulations and KYC requirements
• May require proof of address for certain countries or transaction levels

3. Description of Services

BorderPay Africa, Inc. provides a mobile application and fintech platform for global cross-border payments, remittances, multi-currency digital wallets, planned card access, and related fintech services ("Financial Services"). Our Services use regulated financial infrastructure for processing. Services include:

Services are facilitated through regulated financial infrastructure for payment processing, planned card access when available, compliance controls, and regulatory oversight. We do not hold client funds directly; funds are safeguarded through regulated infrastructure in segregated accounts per applicable banking regulations.

You acknowledge that Services may evolve, and availability depends on your location and regulatory approvals in your country.

4. Services and Fees

Our Services are available to eligible customers worldwide (except in restricted jurisdictions) and include multi-currency accounts, planned card access when available, international transfers, stablecoin support, and eligible African local-bank and mobile-money routes where available.

Account Maintenance Fees: Direct Business account creation and KYB onboarding are free. After successful verification, Business accounts are charged $29.99 USD per month. Consumer onboarding is not offered. Applicable maintenance fees support global account infrastructure, wallet services, payment connectivity, account maintenance, and platform support. BorderPay may deduct a disclosed fee from an available supported wallet balance in accordance with the applicable billing cycle.

Transaction and Route Fees: Applicable transfer, network, and local-route fees are displayed before transaction confirmation. These fees can vary by product, country, route, and payment method. Fees are non-refundable except where required by applicable law.

Taxes: You are responsible for all applicable taxes, including VAT, withholding tax, or other local taxes in your jurisdiction. We may collect and remit taxes where required by law.

5. User Responsibilities and Prohibited Conduct

5.1 Your Obligations

You agree to:

• Use Services only for lawful purposes in compliance with the laws of your jurisdiction
• Provide accurate, current, and complete information during registration and KYC
• Maintain the security and confidentiality of your account credentials
• Comply with all KYC/AML requirements including identity verification
• Report any suspicious activity or unauthorized access immediately
• Not exceed spending caps or transaction thresholds
• Use only government-issued identity documents for verification

5.2 Prohibited Activities

The following activities are strictly prohibited:

• Fraud, money laundering, terrorist financing, or other financial crimes
• Use of fraudulent or falsified identification
• Unauthorized access to accounts or system infrastructure
• Reverse-engineering, decompiling, or attempting to extract source code
• Transactions involving illegal goods, services, or sanctioned entities
• Violating sanctions lists (OFAC, UN, EU)
• Creating multiple accounts to circumvent limits or restrictions
• Using the Services from a restricted or sanctioned jurisdiction

We continuously monitor transactions for compliance with AML/CFT regulations. Violations may result in immediate account suspension or termination, forfeiture of funds where legally permitted, and reporting to relevant authorities including the Nigerian Financial Intelligence Unit (NFIU), EFCC, and other regulatory bodies.

6. Payments, Transactions, and Liability

All financial transactions are processed through regulated financial infrastructure. By using the Services, you authorize BorderPay and its regulated infrastructure providers to debit and credit your wallet or account according to your instructions. Transaction limits and fees apply based on your account type and verification level.

6.1 Transaction Authorization

You authorize all transactions initiated through your account. Once a transaction is confirmed, it cannot be reversed except in cases of unauthorized access, fraud, or system error. Refunds and chargebacks are processed according to applicable payment-network rules and our policies.

6.2 Unauthorized Transactions

If you identify unauthorized transactions, you must notify us immediately via support@borderpayvelocity.xyz or through the app. We will investigate and, if confirmed, reverse the transaction and refund your account. You may be liable for unauthorized transactions if you fail to maintain account security or delay reporting.

6.3 Limitation of Liability

To the fullest extent permitted by Nigerian law and applicable African regulations:

• We are not liable for indirect, incidental, consequential, or punitive damages including lost profits, lost business opportunities, or data loss
• Our total liability is capped at the greater of (a) the transaction value in dispute or (b) $500 USD
• We are not liable for delays, failures, or errors caused by force majeure events including network outages, natural disasters, government actions, or third-party service failures
• We are not liable for losses resulting from your failure to secure your account or comply with these Terms

Regulated Infrastructure: While we strive to provide reliable Services, processing is dependent on regulated payment, banking, and verification systems. We are not liable for infrastructure failures, downtime, or errors in those systems except where we have been negligent.

7. Data Privacy and Security

We collect, process, and store personal data in accordance with our Privacy Policy and applicable African data protection laws, including:

• Nigeria Data Protection Regulation (NDPR): Administered by the National Information Technology Development Agency (NITDA), granting rights to access, correct, and delete personal data
• African Union Convention on Cyber Security and Personal Data Protection: Continental framework for data protection
• Country-Specific Laws: Including Kenya's Data Protection Act, South Africa's POPIA, Ghana's Data Protection Act, and other national legislation

7.1 Data Collection and Use

We collect personal data necessary to provide Services including: name, email, phone number, address, date of birth, identity documents (government-issued only), financial information, transaction history, and device information. Data is used for account management, KYC/AML compliance, transaction processing, customer support, fraud prevention, and service improvements.

7.2 Data Sharing

Your data is shared with regulated infrastructure providers solely for payment processing, planned card access when available, compliance, and regulatory reporting. We also share data with regulated identity verification providers for KYC/AML purposes. Data may be disclosed to regulatory authorities, law enforcement, or other third parties where required by law.

7.3 Data Security

We implement industry-standard security measures including encryption (TLS 1.3+), secure data storage, access controls, and regular security audits. In the event of a data breach, we will notify affected users and relevant authorities within the timeframes required by applicable law (typically 72 hours under NDPR).

7.4 Your Data Rights

Under NDPR and applicable African data protection laws, you have the right to:

• Access your personal data
• Correct inaccurate or incomplete data
• Request deletion of your data (subject to legal retention requirements)
• Object to or restrict certain data processing
• Withdraw consent for data processing (where consent is the legal basis)
• Lodge a complaint with NITDA or your country's data protection authority

To exercise these rights, contact us at support@borderpayvelocity.xyz. We will respond within 30 days or the timeframe required by your local data protection law.

8. Intellectual Property

All Services, including the mobile application, website, content, design, logos, trademarks, and frontend user interface elements, are the exclusive intellectual property of BorderPay Africa, Inc. and are protected by Nigerian copyright, trademark, and intellectual property laws, as well as international treaties including the Berne Convention and WIPO Copyright Treaty.

Regulated backend infrastructure supports parts of the Services and is not user-facing. Business customers are granted a limited, non-exclusive, non-transferable license to use the Services for authorized business purposes. You may not:

• Copy, modify, distribute, sell, or lease any part of the Services
• Reverse-engineer or attempt to extract source code
• Use our trademarks, logos, or branding without written permission
• Create derivative works or competing services based on our platform

You grant us a worldwide, royalty-free license to use any content, feedback, or data you provide solely for the purpose of operating and improving the Services.

9. Account Termination and Suspension

9.1 Termination by You

You may close your account at any time through the app or by contacting support@borderpayvelocity.xyz. Upon account closure, you must withdraw all remaining funds (subject to any outstanding fees, disputes, or legal holds). Account closure is subject to completion of any pending transactions.

9.2 Termination by BorderPay

We may suspend or terminate your account immediately, with or without notice, for:

• Violation of these Terms or our AML/KYC policies
• Suspected fraud, money laundering, or illegal activity
• Use of unsupported identity documents or fraudulent identification
• Failure to complete KYC verification
• Chargebacks, payment disputes, or negative balance
• Inactivity exceeding 12 months
• Regulatory or compliance requirements

For non-urgent violations, we will provide 30 days' notice before termination. Upon termination, your access to Services will end, but you will have 60 days to withdraw remaining funds (subject to any holds or investigations).

9.3 Post-Termination

After termination, we will retain your data as required by law for audit, compliance, and regulatory purposes (typically 6-10 years under Nigerian banking regulations). Certain provisions of these Terms (including intellectual property, liability limitations, and governing law) survive termination.

10. Governing Law and Dispute Resolution

10.1 Governing Law

These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without regard to conflicts of law principles. Where applicable, provisions of African Union conventions and your local country laws also apply, particularly regarding consumer protection, data privacy, and financial services regulation.

10.2 Jurisdiction

Any disputes arising from these Terms or the Services shall be subject to the exclusive jurisdiction of the courts of Lagos State, Federal Republic of Nigeria. However, we may seek injunctive relief in any jurisdiction to protect our intellectual property or prevent unauthorized use.

10.3 Dispute Resolution Process

Before initiating legal proceedings, you agree to:

1. Contact Support: Attempt to resolve disputes by contacting support@borderpayvelocity.xyz
2. Good Faith Negotiation: Engage in good faith negotiations for 30 days
3. Mediation: If unresolved, participate in mediation through the Lagos Multi-Door Courthouse or similar institution
4. Arbitration: If mediation fails, disputes shall be resolved through binding arbitration under the Nigerian Arbitration and Conciliation Act

10.4 Consumer Protection Rights

Nothing in these Terms limits your statutory rights as a consumer under Nigerian consumer protection laws (Federal Competition and Consumer Protection Act 2018) or your country's consumer protection legislation. You retain the right to file complaints with the Federal Competition and Consumer Protection Commission (FCCPC) or your local consumer protection authority.

11. Regulated Infrastructure and Third-Party Services

BorderPay Africa, Inc.'s financial services depend on regulated financial infrastructure:

We carefully select and monitor the infrastructure used to support the Services. You acknowledge that certain Services depend on third-party infrastructure providers operating under their own licenses and terms. We are not liable for their actions, failures, or service interruptions except where we have been negligent in our selection or oversight.

Regulated identity verification providers may process your KYC/AML verification independently. By using our Services, you agree to the applicable privacy and data processing practices for identity verification purposes.

13. Miscellaneous

• Severability: If any provision of these Terms is found to be unenforceable or invalid, that provision shall be severed and the remaining provisions shall remain in full force and effect.
• Waiver: No waiver of any provision shall be deemed a further or continuing waiver. Any waiver must be in writing and signed by an authorized representative.
• Assignment: We may assign these Terms or any rights/obligations hereunder without your consent. You may not assign your account or these Terms without our prior written consent.
• Entire Agreement: These Terms, together with the Privacy Policy and AML Policy, constitute the entire agreement between you and BorderPay Africa, Inc. and supersede all prior agreements or understandings.
• Force Majeure: Neither party shall be liable for delays or failures caused by events beyond reasonable control including natural disasters, war, terrorism, government actions, network failures, or pandemics.
• Language: These Terms are provided in English. Translations may be provided for convenience, but the English version governs in case of conflicts.

14. Contact Information

For questions, concerns, or support regarding these Terms or the Services, please contact us: