1. Service Overview

Bank9ja Collect (“Service”) is a digital payment collection platform provided by 9 Payment Service Bank Limited (“9PSB”, “we”, “our”, or “us”). It allows registered merchants and users (“Merchant”, “you”, or “your”) to receive payments via electronic channels and have these collections settled into their nominated bank account. These Terms constitute the entire agreement between you and 9PSB regarding the use of the Service and supersede all prior or contemporaneous communications, understandings, and agreements.

2. Eligibility

You must be a registered business or verified individual capable of entering into legally binding agreements. You agree to provide accurate and up-to-date information during onboarding and throughout your use of the Service.

3. Merchant Onboarding and KYC

Use of the Service is subject to successful Know-Your-Customer (KYC) verification and compliance with applicable laws and regulations.

4. Consent to Collection Settlement

 By using the Service, you authorize 9PSB to:

• Receive, hold, and process payments on your behalf.
• Settle collected funds, less applicable fees, to your nominated bank account.
• Reverse or adjust settlements in cases involving disputes, chargebacks, refunds, or errors.

5. Fees, Commission and Charges
   • You agree to pay all applicable fees and charges for the Service as may be communicated to you by 9PSB from time to time. These fees may be revised at any time with or without prior notice to you.
   • The commission rates and structures for referral commissions are solely determined by 9PSB and may be revised at the Bank’s discretion, with or without prior notice.
   • Commissions shall be disbursed as part of transaction settlements and may be subject to reconciliation and compliance verification prior to payment.
   • 9PSB reserves the right to withhold or reverse any referral commissions under the following circumstances:
     • Instances of fraudulent referral(s), self-referral(s), or colluding activities.
     • Violation of any applicable laws, regulations, or these Terms.

6. Merchant Terms & Condition

• Merchant’s Referral

Registered Merchants on 9PSB’s platforms may refer individuals or registered entities to 9PSB’s products and services using approved referral mechanisms, such as referral codes, unique links, or direct onboarding channels.

• Merchant Responsibilities

           You agree to:

• Use the Service for lawful purposes only.
• Ensure that all transactions are legitimate.
• Protect your login credentials.
• promptly notify 9PSB, in writing, if you suspect that the login information is lost, stolen, compromised, or misused.
• Provide accurate information during onboarding and after onboarding.
• Cooperate during audit or investigation activities.

• Merchant Eligibility for Referral Commissions

           To be eligible for referral commissions:

• The referred party must successfully complete onboarding and satisfy any applicable minimum requirements related to transactions, deposits, or account activation, as specified by 9PSB from time to time.
• The referral must be tracked through the official referral method assigned to the Merchant.
• The referrer must have an active 9PSB account registered for the purpose of receiving commissions.
• Referral commission for Merchant shall be credited to the Merchant’s designated 9PSB account upon fulfillment of all applicable referral criteria as stated in this Terms.
• A merchant may forfeit any earned commission if found to have engaged in any misrepresentation or misleading promotion of 9PSB’s products or services.

7. Refunds and Chargebacks

• Refund Responsibility

You agree to be solely responsible for issuing refunds to customers as the need arises. Upon your acceptance of a dispute, 9PSB is hereby authorized to debit the refund amount, along with any applicable fees, from your available balance or from subsequent transactions or settlements.

• Chargebacks

A chargeback is a transaction reversal initiated by the customer through their bank. In the event of a chargeback, 9PSB will notify you and may withhold the equivalent amount to the disputed transaction. You agree to provide all relevant supporting documentation to dispute the chargeback within one (1) business day of receiving such notification.

• Liability

You agree to be fully liable for all chargebacks and related fees. Unrecoverable chargeback (when your account is not adequately funded to cover the chargeback(s)) amounts must be paid by you within 1 business day upon demand.

• Excessive Chargebacks

If your monthly chargeback ratio exceeds an acceptable threshold of 1% (one percent) of the total transaction value with more than 50 chargebacks, 9PSB reserves the right to:

• Impose additional fees or reserves.
• Suspend your account.
• Terminate your access to the Service with immediate effect.

8. Transaction Disputes

• Notification of Dispute

You agree to notify 9PSB in writing of any suspected unauthorized or erroneous transaction within 5 days of the transaction date, including all supporting documentation.

• Investigation of Dispute

9PSB will conduct a fair investigation and may request additional information. You agree to cooperate fully where such request is made.

• Resolution of Dispute

9PSB will make commercially reasonable efforts to resolve disputes within 15 business days. If the dispute is resolved in the customer’s favor, you authorize 9PSB to recover the disputed amount from your account.

• Finality

The outcome of 9PSB’s dispute resolution process in respect of customer complain shall be final, unless otherwise mandated by law or resolved through mediation.

9. Indemnity

• You agree, at your own expense, to indemnify, defend and hold harmless 9PSB, its suppliers, agents, directors, officers, employees, representatives, successors, and assigns from and against any and all loss, damage and expense, including reasonable attorney’s fees, and amounts paid in settlement arising from any and all third party claims that: (i) Arises out of your use or misuse of the Service in violation of the Terms of Service; (ii) Your violation or breach of this Terms of Service and which in turn infringes such party’s intellectual property rights; (iii) Arising from your instruction given in respect of settlements; (iv) where refund(s) and chargebacks have been processed.
• You shall have the right, at your expense, to assume the exclusive defense and control of any such third-party claim(s) and 9PSB may only cooperate with you in asserting any available defense.

10.    Limitation of Liability

• To the maximum extent allowed by law, 9PSB shall not be liable for indirect, incidental, or consequential damages, including loss of revenue, arising from your use of the Service.
• 9PSB shall not be held liable for a temporary or permanent loss of Service resulting from a change in your onboarding information whether intentionally or unintentionally, which has not been communicated to 9PSB in accordance with this Terms of Service.

11. Termination

• 9PSB may suspend or terminate your account at any time for breach of these Terms, excessive chargebacks, or for regulatory reasons. You may terminate the Service by giving a written notice of not less than 30(thirty) days’, subject to settlement of all obligations.
• 9PSB reserves the right to modify or terminate the referral product or service at any time without incurring any liability. However, for referrals that satisfy all applicable conditions prior to such termination shall be terminated in accordance with clause 11.1 above.

12. Data Protection

Your data will be processed in accordance with the Nigeria Data Protection Act (NDPA) and 9PSB’s Privacy Policy. By using the Service, you unequivocally consent to the processing of your data.

13. Amendments

9PSB may revise these Terms at any time. Updates will be communicated to you and become binding upon continued use of the Service.

9PSB may amend, enhance, add to, withdraw, or otherwise change the Service, and/or feature functionality within the Service without notice to you. Such modifications shall be effective immediately and shall inure to the benefit of the parties and their respective successors and permitted assigns.

14. Governing Law and Dispute Resolution

• This Term of Service shall in all respects be governed by and construed and enforced in accordance with the laws of the Federal Republic of Nigeria.
• If any dispute arises out of or in relation to this Agreement, which cannot be amicably resolved between the Parties within fifteen (15) days after the notification by a Party of such dispute, then either Party may refer such dispute to mediation upon giving the other Party fifteen (15) days written notice.
• The Parties irrevocably agree that such disputes or claims will be resolved via mediation at the Lagos Multi-Door Courthouse (“LMDC”) under the provisions of the LMDC Rules 2007. The mediation shall consist of 1 (one) mediator appointed by the LMDC. Any agreement reached pursuant to the mediation shall be final and binding on the Parties and shall be reduced into writing and executed by the Parties, which shall thereafter be presented to a Court of competent jurisdiction for adoption as an enforceable judgment of the said Court in respect of the said dispute, difference or claim. The Parties shall bear the costs for the dispute resolution.
• Nothing in this clause shall preclude the rights of either Party from seeking any injunctive relief.

15. Fraud Monitoring and Risk Controls

9PSB reserves the right to monitor all transactions for fraud, money laundering, and other illicit activities. We may:

• Delay, suspend, or cancel suspicious transactions.
• Request additional verification documents.
• Report suspicious activities to regulatory authorities as required by law.

16. Intellectual Property

All intellectual property rights in the Service, including software, content, branding, and documentation, remain the exclusive property of 9PSB and its licensors. Merchants may not reproduce, distribute, or create derivative works without express written consent.

17. Miscellaneous Provision

• Failure by either you, 9PSB, or any third-party to exercise or enforce any provision hereof shall not constitute or be construed as a waiver of any such right or the provision of the right to enforce it at a later time.
• You shall not assign the rights, obligations and/or duties under this Terms of Service without the prior written consent of the 9PSB.

18. Severability

These Terms of Service shall be enforced to the fullest extent permitted by applicable law. If any provision is found by a court of competent jurisdiction to be invalid or unenforceable in any respect, then:

• such provision shall be interpreted, modified, or limited to the extent necessary to make it valid, enforceable, and consistent with its original intent; and

• the invalidity or unenforceability of that provision shall not affect the validity or enforceability of the remaining provisions of these Terms of Service.

19. Contact Information

For questions or complaints, contact us at:
Email: hello@9psb.com.ng
Phone: +234 700 220 0005
Address: 9 Payment Service Bank, Head Office – 16, Adeola Odeku, Victoria Island, Lagos

By registering for and/or using Bank9ja Collect, you confirm that you have read, understood, and agree to be bound by these Terms of Service.