1. Introduction & Regulatory Framework
These Terms of Service constitute a legally binding agreement between you and PlutoPay Technologies Limited ("PlutoPay", "we", "us", or "our"). PlutoPay provides a digital financial orchestration platform enabling users to send money, pay bills, generate invoices, create virtual cards, and manage multi-currency balances.
PlutoPay operates as a financial technology platform and orchestration provider. All core banking, custody of funds, payment switching, and card issuance services are provided in strict partnership with Central Bank of Nigeria (CBN) licensed commercial banks, microfinance institutions, and NDIC-insured financial partners.
2. Eligibility & Account Onboarding
To open and operate a PlutoPay account, you must be at least 18 years of age and legally competent to enter into contracts under the laws of the Federal Republic of Nigeria or your country of residence.
In compliance with CBN Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) directives, you agree to complete our tiered identity verification (KYC) process, providing accurate and authentic Bank Verification Numbers (BVN), National Identification Numbers (NIN), and valid government-issued photographic identification where required.
3. User Credentials & Account Security
You are solely responsible for maintaining the confidentiality of your account login credentials, 4-digit transaction PIN, and multi-factor authentication tokens. Every transaction authorized using your verified PIN or registered biometric signature shall be conclusively presumed to have been executed by you.
You agree to notify PlutoPay immediately at support@plutopay.ng if you suspect or discover any unauthorized access, compromised device, or breach of your account credentials.
4. Virtual Cards & Digital Wallets
Virtual dollar and Naira cards issued through the PlutoPay platform are prepaid payment instruments. Cardholders are prohibited from attempting transactions exceeding their prepaid balance or using cards on unauthorized gambling, prohibited adult content, or sanctioned platforms. PlutoPay reserves the right to freeze or cancel cards associated with suspicious risk scores.
5. Fees, Pricing & Currency Conversion
All fees associated with transactions, card issuance, and foreign exchange conversions are displayed in the application prior to your authorization. PlutoPay does not charge hidden fees or dormant account penalties. Foreign currency conversions reflect real-time market liquidity and applicable regulatory spreads.
6. Prohibited Activities & Account Suspension
You agree never to use PlutoPay services for fraudulent schemes, money laundering, terrorist financing, illicit arms trading, or bypassing international financial sanctions. We maintain automated monitoring systems and will immediately suspend accounts, freeze assets, and notify law enforcement authorities upon detecting suspicious activities.
7. Governing Law & Dispute Resolution
These Terms shall be governed by and interpreted in accordance with the laws of the Federal Republic of Nigeria. Any dispute arising out of or in connection with these Terms shall first be submitted to good-faith mediation in Lagos, Nigeria, before seeking recourse in courts of competent jurisdiction.