Terms of Service
The rules for using the xtrempay app and website.
We believe transparency builds trust. These terms explain your rights and our responsibilities.
In Summary
- You must be at least 18 years old to use Xtrempay.
- Your savings remain yours at all times.
- Gamified savings features are designed to encourage saving, not gambling.
- You are responsible for keeping your account secure.
- Prohibited conduct may result in account suspension or termination.
- We may update these terms with prior notice.
This summary is provided for convenience. The full terms below are legally binding.
1. Introduction and Acceptance
These Terms of Service (the "Terms") govern your access to and use of the xtrempay mobile application, website located at www.xtrempay.com(the "Site"), and all related services (collectively, the "Services"). The Services are owned and operated by Xtremify Innovations Limited, a company incorporated under the laws of the Federal Republic of Nigeria ("xtrempay", "we", "us", or "our").
1.1 By downloading, accessing, or using the xtrempay app or Site, creating an account, or otherwise using the Services, you agree to be bound by these Terms and our Privacy Policy and Cookie Policy, each of which is incorporated into these Terms by reference. If you do not agree to these Terms, you must not access or use the Services.
2. Eligibility
2.1 To create an account and use the Services, you must:
a) Be at least 18 years of age
b) Have the legal capacity to enter into a binding contract under applicable Nigerian law
c) Hold a valid Bank Verification Number ("BVN") and a valid means of government-issued identification
d) Not be barred from using the Services under any applicable law, including anti-money laundering, counter-terrorism financing, or sanctions laws
2.2 By registering for an account, you represent and warrant that you meet the eligibility requirements set out above and that all information you provide to us is accurate, current, and complete.
3. Our Services
3.1 xtrempay is a behavioural finance platform that combines savings tools with digital payment services. The Services include, without limitation:
a) Digital Wallet
Digital wallet funding, storage, and withdrawal.
b) Savings Products
Savings pockets and savings goals.
c) Payment Services
Instant transfers, bank transfers, bill payments, airtime and data purchases, and electricity bill payments.
d) Reward Features
Gamified savings features, including Raffle Savings, Trivia Savings, and Spin2Save (collectively, the "Reward Features"), described further in Section 8; and transaction history, real-time notifications, and customer support.
4. Account Registration, KYC and Verification
4.1 To use the Services, you must register for an account by providing your email address and phone number and verifying your phone number via one-time password ("OTP").
4.2 As part of our Know-Your-Customer ("KYC") obligations under applicable Central Bank of Nigeria ("CBN") regulations and anti-money laundering laws, you will be required to provide your BVN, a valid means of identification, and to complete facial and/or identity verification. We may use third-party identity verification providers to complete this process.
4.3 We reserve the right to refuse to open an account, to request additional verification information at any time, or to suspend or close an account where we are unable to complete or maintain satisfactory KYC verification.
4.4 You agree to keep your registration information current and to promptly notify us of any changes.
5. Account Security
5.1 You are responsible for maintaining the confidentiality of your username, password, transaction PIN, and any two-factor authentication ("2FA") credentials associated with your account, and for all activities that occur under your account.
5.2 You agree to notify us immediately at support@xtrempay.com or through the in-app support channel if you become aware of any unauthorised use of your account or any other breach of security.
5.3 We are not liable for any loss or damage arising from your failure to comply with this Section 5, including your failure to safeguard your login credentials or PIN.
6. Wallet, Savings, and Withdrawals
6.1 Funds you deposit into your xtrempay wallet or savings pockets remain your property at all times. Participation in the Reward Features does not place your principal savings at risk: your saved balance is not forfeited or reduced based on the outcome of any raffle, trivia challenge, or spin, save as expressly disclosed to you in respect of any fees applicable under Section 7.
6.2 You may withdraw available funds from your wallet to a linked bank account at any time by following the withdrawal process in the app, subject to any applicable transaction limits, processing times, and fees disclosed to you at the point of withdrawal.
6.3 We reserve the right to impose reasonable daily, weekly, or transaction limits on deposits, withdrawals, and transfers for security, regulatory, or risk-management purposes.
7. Fees and Charges
7.1 We may charge fees for certain Services, including but not limited to transfers, bill payments, airtime and data purchases, and withdrawals. Applicable fees will be disclosed to you within the app prior to your confirming any transaction.
7.2 We reserve the right to introduce new fees or amend existing fees from time to time, with reasonable prior notice to you through the app, email, or the Site.
8. Raffle Savings, Trivia Savings, and Spin2Save
8.1 Raffle Savings
For every ₦500 saved, you automatically earn one raffle ticket entry into our weekly live draw. Winners are selected at random during a live draw session and prizes are credited to the winner's wallet. Odds of winning depend on the total number of tickets issued for the relevant draw period.
8.2 Trivia Savings
Upon reaching a qualifying weekly savings target (currently ₦2,500), you unlock access to trivia challenges. Correct answers, speed, and leaderboard performance may determine bonus rewards, as described within the app at the time of the challenge.
8.3 Spin2Save
Saving a qualifying minimum amount (currently ₦250) earns a spin coin redeemable for one spin of the in-app reward wheel, which may award instant cash, bonuses, or other prizes as displayed at the time of the spin.
8.4 General Reward Features Terms
a) Reward Features are provided as an incentive to encourage saving and are not a lottery, betting, or gambling product;
b) Odds, prize values, qualifying thresholds, and draw or challenge schedules may vary and are as disclosed in the app;
c) We reserve the right to verify the eligibility of any winner, including KYC status, before crediting a prize;
d) Prizes are credited to your xtrempay wallet and may be subject to applicable withholding tax under Nigerian law;
e) We may modify, suspend, or discontinue any Reward Feature at any time, subject to honouring rewards already earned;
f) Reward Features are void where prohibited by applicable law and are not available to users who do not meet the eligibility criteria in Section 2.
9. Payments, Transfers, and Bill Payments
9.1 When you initiate a transfer, bill payment, airtime or data purchase, or electricity payment through the Services, you authorise us (and our Partner Institutions and payment processors) to carry out that transaction on your behalf.
9.2 We are not responsible for errors caused by incorrect information provided by you, such as an incorrect account number, phone number, or biller reference, and any transaction completed using such incorrect information is your responsibility. We will make reasonable efforts to assist in recovering misdirected funds but cannot guarantee recovery.
9.3 Certain payment services are provided by, or routed through, third-party billers, banks, and payment processors, whose own terms and service levels may apply in addition to these Terms.
10. Prohibited Conduct
You agree not to:
Violation of these provisions may result in immediate account suspension, termination, and reporting to relevant authorities.
11. Anti-Money Laundering and Compliance
11.1 We are committed to complying with applicable anti-money laundering ("AML"), counter-terrorism financing ("CTF"), and know-your-customer regulations issued by the CBN and other relevant Nigerian authorities.
11.2 We reserve the right to monitor transactions, request additional information or documentation, delay or decline a transaction, or report suspicious activity to relevant regulatory or law enforcement authorities where required by law.
We are committed to complying with all applicable financial crime prevention regulations.
12. Intellectual Property
All content, trademarks, logos, software, and materials made available through the Services, including the xtrempay name and logo, are the property of Xtremify Innovations Limited or its licensors and are protected by applicable intellectual property laws. Except as expressly permitted by these Terms, you may not copy, reproduce, distribute, or create derivative works from any part of the Services without our prior written consent.
13. Third-Party Services and Links
The Services may contain links to, or integrate with, third-party websites, applications, or services, including billers and Partner Institutions. We do not control and are not responsible for the content, policies, or practices of any third party. Your use of any third-party service is at your own risk and subject to that third party's own terms.
14. Disclaimers
14.1 The Services are provided on an "as is" and "as available" basis, without warranties of any kind, whether express or implied, including implied warranties of merchantability, fitness for a particular purpose, or non-infringement, to the maximum extent permitted by applicable law.
14.2 We do not guarantee that the Services will be uninterrupted, error-free, or free of harmful components, or that any particular result (including winning a raffle, trivia challenge, or spin) will occur.
15. Limitation of Liability
To the maximum extent permitted by applicable Nigerian law, xtrempay, Xtremify Innovations Limited, and their respective directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, arising out of or in connection with your use of, or inability to use, the Services, save that nothing in these Terms shall exclude or limit our liability for fraud, wilful default, or any liability that cannot be excluded or limited under applicable law.
16. Indemnification
You agree to indemnify and hold harmless xtrempay, Xtremify Innovations Limited, and their respective directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses, including reasonable legal fees, arising out of or in any way connected with your breach of these Terms, your misuse of the Services, or your violation of any applicable law or third-party right.
17. Suspension and Termination
17.1 We may suspend or terminate your account or access to the Services at any time, with or without notice, if we reasonably believe you have breached these Terms, engaged in fraudulent or unlawful activity, or where required to do so by a regulator, law enforcement authority, or Partner Institution.
17.2 You may close your account at any time by contacting us through the app or at support@xtrempay.com, subject to the withdrawal of any remaining wallet balance and completion of any pending transactions or regulatory checks.
17.3 Sections 6.1, 11, 12, 14, 15, 16, and 20 shall survive termination of your account or these Terms.
18. Dispute Resolution
18.1 If you have a dispute with us, please contact our support team first at support@xtrempay.com so that we can attempt to resolve the matter informally.
18.2 If a dispute cannot be resolved informally within 30 days, either party may refer the dispute to mediation, and failing resolution through mediation within a further 60 days, to binding arbitration conducted in accordance with the Arbitration and Mediation Act 2023, seated in Lagos, Nigeria, before a single arbitrator.
19. Changes to These Terms
We may amend these Terms from time to time to reflect changes in our Services, legal or regulatory requirements, or business practices. We will notify you of material changes through the app, by email, or by posting a notice on the Site. Your continued use of the Services following any such change constitutes acceptance of the amended Terms.
20. Governing Law and Jurisdiction
These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without regard to its conflict of laws principles. Subject to Section 18, the courts of Lagos State, Nigeria shall have exclusive jurisdiction over any dispute arising out of or relating to these Terms.
21. Contact Us
Xtremify Innovations Limited
Trading as Xtrempay
