Terms and Conditions for Cashat

Effective Date: August 09, 2025

These Terms and Conditions (“Terms”) constitute a legally binding agreement between you (“User,” “you,” or “your”) and Cashat Technologies Limited (“Company,” “we,” “us,” or “our”), a company incorporated and operating under the laws of the Federal Republic of Nigeria, with its registered office in Lagos, Nigeria. By accessing, downloading, installing, or using the Cashat app, website, USSD codes, WhatsApp bots, or any related services (collectively, the “Platform” or “Services”), you agree to be bound by these Terms, our Privacy Policy, Data Protection Notice, and any additional policies, guidelines, or addendums referenced herein (collectively, the “Agreement”). If you do not agree to these Terms, do not use the Platform.

Cashat is a pan-African fintech super-app designed to facilitate seamless money movement and financial services across Africa and globally. As a platform with international ambitions, we operate in compliance with applicable laws in multiple jurisdictions, including but not limited to Nigeria’s Companies and Allied Matters Act (CAMA) 2020, Central Bank of Nigeria (CBN) regulations, the Nigerian Data Protection Regulation (NDPR), and international standards such as the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic Commerce, the General Data Protection Regulation (GDPR) for EU users, and anti-money laundering (AML) frameworks under the Financial Action Task Force (FATF). Where Services are available in other countries, local laws (e.g., South Africa’s Financial Sector Regulation Act or Kenya’s Data Protection Act) may supplement these Terms. We reserve the right to restrict Services in jurisdictions where prohibited or non-compliant.

We may amend these Terms at any time to reflect changes in laws, features, or operations. Amendments will be posted on the Platform with the effective date. Continued use after changes constitutes acceptance. If changes materially affect your rights, we will notify you via in-app message, email, or SMS.

1. Introduction and Scope of Services

Cashat provides a unified platform for financial transactions and embedded services, including but not limited to:

• Peer-to-Peer (P2P) transfers using phone numbers, emails, or $cashtags.
• Multi-currency wallets for holding and exchanging currencies (e.g., NGN, XAF, USD, EUR, stablecoins).
• QR code and payment link generation for instant, offline-capable payments.
• Bill payments, airtime/data top-ups with commissions.
• Remittances, including international transfers via stablecoins or partners.
• Physical and virtual debit/credit cards for secure purchases.
• Merchant services, including onboarding, dashboards for analytics and inventory, and API integrations.
• Referral and rewards programs (e.g., cashback, bonuses).
• Livestock Trading Marketplace for listing, bidding, and trading livestock (initially cattle in L-PRES states).
• Livestock Payments System for escrow-based secure trades, fee deductions, and dispute resolution.
• Future expansions into lending, insurance, investments, and Banking-as-a-Service (BaaS).

Services are available 24/7 via app, website, USSD, WhatsApp bots, and agents, subject to network availability and maintenance. We do not guarantee uninterrupted access and are not liable for downtime due to force majeure, regulatory actions, or third-party failures.

The Platform is intended for personal and business use in compliance with local and international laws. Transactions are governed by the laws of the jurisdiction where the transaction originates, supplemented by international standards for cross-border activities (e.g., FATF for AML, UNCITRAL for electronic contracts).

2. User Eligibility and Account Creation

• Eligibility: You must be at least 18 years old (or the legal age of majority in your jurisdiction) and capable of entering binding contracts. For business users (merchants, agents), you must be a legally registered entity. Use is prohibited for individuals or entities in sanctioned countries (e.g., under UN, US, or EU sanctions) or on restricted lists (e.g., FATF high-risk jurisdictions). We may require proof of eligibility.
• Account Registration: Register via phone, email, or social login. Provide accurate information for KYC/AML verification, including government-issued ID, proof of address, and business documents for merchants/agents. Incomplete KYC limits Services (e.g., transaction caps per CBN guidelines).
• Multi-Jurisdictional Compliance: For users in different countries, KYC aligns with local laws (e.g., NDPR in Nigeria, GDPR in EU-linked transactions). We may share data with regulators as required.
• Account Security: Maintain confidentiality of login credentials. Enable 2FA/biometrics/PIN. Report breaches immediately. We are not liable for losses from unauthorized access due to user negligence.
• Account Types:
  • Consumer/Herder/Buyer: Personal use.
  • Merchant: Business payments (verification required).
  • Agent: Facilitation services (partnership agreement needed).
  • Admin/Stakeholder: Role-based for market heads, vets, etc. (invited access).
• Prohibitions: No multiple accounts without approval; no use for illegal activities (e.g., money laundering under FATF). Violation leads to suspension.

3. Use of the Platform and Services

• Acceptable Use: Use for lawful purposes only. Prohibited: Fraud, terrorism financing, or violating sanctions. In livestock modules, ensure accurate listings and comply with animal welfare laws.
• Transaction Rules: Transactions are irrevocable once confirmed, subject to escrow in livestock modules. We act as facilitator, not a bank; funds in wallets are not insured (except per local deposit protection laws).
• International Transactions: Governed by the UNCITRAL Model Law on International Commercial Conciliation for disputes, and FATF Recommendations for AML. Cross-border fees apply; users bear currency risks.
• Livestock Modules:
  • Marketplace: Listings must be truthful; bidding is binding.
  • Payments: Escrow holds funds until OTP confirmation; disputes resolved per Section 11.
• Stakeholder Responsibilities: Agents must facilitate honestly (liable for misrepresentation); market heads use dashboards for oversight; vets provide accurate certs (compliant with veterinary laws); government agencies access data for taxes.
• Content and IP: You grant us a license to user-generated content (e.g., livestock photos). We own Platform IP; no reverse engineering.

4. Fees, Payments, and Financial Terms

• Fees Schedule: Detailed in-app; includes transaction fees (1-2%), FX margins, card issuance, and module fees (e.g., 0.5-1% per head in livestock). Fees vary by jurisdiction (e.g., CBN caps in Nigeria).
• Payment Methods: Wallet, bank transfers, cards, agents, or cash pickups. All transactions comply with local monetary laws (e.g., Nigeria’s Money Laundering Act).
• Refunds and Reversals: Processed within 7-14 days for eligible cases (e.g., disputes); non-refundable fees apply. Refunds follow originating jurisdiction’s consumer protection laws (e.g., Nigeria’s Consumer Protection Act).
• Taxes and Withholding: You are responsible for taxes (e.g., VAT in South Africa). We may withhold as required by law (e.g., FATF for high-risk transactions).
• Escrow Mechanics: In livestock, funds held in segregated accounts compliant with trust laws; released on confirmation, with auto-deductions for stakeholders.
• Currency Risks: Users bear exchange rate fluctuations; we use real-time rates from licensed providers.

5. Privacy, Data Protection, and Security

• Data Collection: We collect personal data (e.g., ID, location, transaction history) for KYC, services, and analytics, per our Privacy Policy.
• International Data Transfers: Data may be transferred cross-border, compliant with GDPR (for EU users), NDPR (Nigeria), and equivalent laws (e.g., POPIA in South Africa). We use standard contractual clauses for transfers.
• Security Measures: Encryption, 2FA, biometric/PIN authentication. Report breaches to us immediately.
• User Rights: Access, correct, delete data per applicable laws (e.g., GDPR Article 15). Opt-out of marketing via settings.
• Sharing: Data shared with partners (e.g., banks for remittances, L-PRES for livestock reporting) and regulators as required by AML laws.

6. Intellectual Property Rights

The Platform, including logos, designs, code, and content, is owned by us or licensors. You receive a limited, revocable, non-transferable license for personal/business use. No copying, modifying, or distributing without written permission. User content (e.g., livestock listings) grants us a perpetual license for Platform operations.

7. Disclaimers and Limitation of Liability

• Disclaimers: Services “as is” and “as available.” No warranties for merchantability, fitness, or non-infringement. We don’t guarantee transaction success or livestock quality; users verify independently.
• Limitation of Liability: To the extent permitted by law (e.g., Nigeria’s Limitation of Liability laws), we are not liable for indirect, consequential, or punitive damages (e.g., lost profits from disputes). Max liability: Total fees paid by you in the prior 12 months.
• Indemnification: You indemnify us against claims from your misuse, including violations of AML laws or livestock misrepresentation.
• Force Majeure: No liability for delays due to wars, natural disasters, pandemics, or regulatory changes (e.g., CBN directives).

8. Termination and Suspension

We may suspend/terminate your account for violations (e.g., fraud under FATF), non-payment, or legal requirements, with notice where feasible. Upon termination, access ends; unused balances refunded minus fees (within 30 days, per consumer laws). You may terminate anytime; we process closures within 7 days.

9. Dispute Resolution and Governing Law

• Governing Law: These Terms are governed by the laws of the Federal Republic of Nigeria, without regard to conflict of laws principles. For international users, supplementary laws apply (e.g., UNCITRAL for cross-border contracts, FATF for transactions).
• Dispute Resolution:
  • Informal: Contact legal@cashat.africa for resolution within 30 days.
  • Formal: Binding arbitration under the Nigerian Arbitration and Conciliation Act or UNCITRAL Rules for international disputes, in Lagos (or nearest jurisdiction). No class actions.
  • Livestock Disputes: In-app resolution with escalation to L-PRES/market authorities; governed by Nigerian agricultural laws.
• Jurisdiction: Exclusive courts of Lagos for non-arbitrable matters. For EU users, GDPR rights apply; disputes may use EU Online Dispute Resolution platform.

10. Miscellaneous Provisions

• Severability: If any provision is invalid, others remain enforceable.
• No Waiver: Failure to enforce rights doesn’t waive them.
• Entire Agreement: These Terms, Privacy Policy, and addendums form the full agreement, superseding prior communications.
• Assignment: We may assign rights (e.g., to affiliates); you may not without consent.
• Notices: Delivered via in-app, email, or SMS.
• Third-Party Beneficiaries: Stakeholders (e.g., agents in livestock) may enforce relevant terms.
• International Compliance: Services comply with FATF AML standards, UN sanctions, and local laws (e.g., Egypt’s Central Bank regulations for North Africa users). Users in restricted jurisdictions are prohibited.

11. Contact Us

For questions or complaints:

• Email: legal@cashat.africa