The payment services (the “Service”) are provided by Pretium Technologies Ltd (“we”, “us”, “our”, or “Pretium”) through this website. By accessing or using the Service, you agree to these Terms of Use, the Privacy Policy, and any other policy we publish (together, this “Agreement”). This Agreement is between you and Pretium.
1. Background
The Service is one of the services offered by Pretium, so the Privacy Policy and other published policies apply unless these terms say otherwise. If there is a conflict about rights or obligations, these Terms of Use take priority over the Privacy Policy and other published policies. A written agreement with you controls where it differs from these terms.
2. The service
Pretium provides a payments API for collections and disbursements. Businesses use it to receive funds from customers and to pay out to mobile money accounts and bank accounts. We handle the payment instruction, the applicable rail, and settlement status. We are not a bank, and funds are not held as a deposit product.
3. Eligibility
To open an account and use the Service you must:
- Be at least 18 years of age, and have authority to bind the business you represent.
- Satisfy our customer due diligence and anti-money laundering requirements.
- Not be a person sanctioned by the United States, the United Kingdom, or the European Union.
- Not be a resident or citizen of a country on those sanctions lists.
4. Account registration
You register with the business and contact details we ask for. We issue credentials for the API. Those credentials are how your organisation submits collections and payouts.
Activity carried out with your credentials is treated as activity by you. Do not give a third party access to the account. We are not liable for loss that follows from a third party gaining access because credentials were shared or left unprotected. Check the account regularly and contact us at once if you do not recognise a transaction or believe a payment was made incorrectly.
Collections and payouts are recorded against your account. We assign a transaction reference to each payment. Quote that reference when you write to us about a payment.
5. Data protection
When you open an account or submit a payment, we collect and use information you provide, including names, phone numbers, email addresses, and mobile money or bank account details of the payer or recipient.
We take reasonable steps to keep that information confidential. The Privacy Policy explains this in more detail. By creating an account, you agree that we may use the information to provide the Service, including for administration, customer support, and, where you have agreed, marketing.
6. Initiating a transaction
For a collection or payout you tell us the amount, the currency, and the mobile money or bank account that should pay or receive the funds. Where a conversion applies, we show the rate and fees before you confirm. Once we receive cleared funds for a payout, we pay the amount, less any agreed fees, to the mobile money or bank account you specify.
You are responsible for the amount and for the accuracy of the recipient’s mobile money or bank details. After we have paid that account, the payment cannot be recalled, and we are not liable for an error in the details you gave us.
You represent that any account you use to send or receive funds is in the name of the person or business entitled to those funds, and that you are authorised to give the instruction. You agree to cover costs we incur, including fines, penalties, and reasonable legal fees, if that representation is wrong. We may close the account and take further action.
7. Use of the service
Rates and fees. Where a payment is converted, we apply the rate we set and show you before you proceed. You accept that rate as the price for that payment. Fees are those we agree with you.
Payment methods. Not every rail is available in every country. The methods available for a payment are those we confirm for that instruction, which can include mobile money and local bank transfer.
Completion. A payout is complete once we transfer the funds to the recipient’s mobile money account or bank account. After that, we have no further obligation for that payment.
Incorrect information. Payments to mobile money and bank accounts are generally irreversible once sent. You must give complete and accurate information. We are not liable for loss caused by incorrect or incomplete details.
Partners. We use mobile money operators, banks, and other processors to settle payments. We are not liable for their delays, errors, limits, or outages.
Limits. We may set transaction and volume limits and change them. We may raise a limit if you meet our requirements. We do not have to do so.
Tax. You are responsible for taxes that apply to payments you make or receive, and for reporting them.
Unauthorised access. Tell us immediately at hello@pretium.co.ke if you suspect unauthorised access to an account or to personal information. We are not liable for loss from unauthorised access, including where access was given intentionally or negligently.
8. Prohibited use
You will not:
- Use the Service for anything unlawful, criminal, harmful, or fraudulent.
- Introduce viruses, malicious code, or other harmful technology.
- Take data or do anything that infringes another person’s intellectual property.
- Reverse engineer, copy, modify, scrape, automate, or resell any part of the Service, except as needed to call the API for your own integration.
- Use someone else’s credentials, or let someone else use yours.
- Send automated requests at a volume a person could not reasonably produce, or place an unreasonable load on our systems.
9. Transaction cancellation
If we cannot complete a payment, we will tell you the reason and how to correct a factual error where we are allowed to. We will not notify you if doing so would be unlawful. Where the funds have not yet been sent to the recipient, and the law allows it, we will return them to the source of the payment.
10. Representation
You represent that:
- You meet the eligibility criteria.
- Information you give us is true, correct, and complete.
- You will comply with laws that apply to your payments.
- You are authorised to use every mobile money or bank account you instruct us to pay or collect from.
- You will not do anything that would cause us to breach laws that apply to you or to us, including anti-money laundering and counter-terrorist financing rules, and sanctions programmes of the United States, the United Nations, the European Union, the United Kingdom, or any other country.
11. Indemnification
You agree to indemnify Pretium Technologies Ltd, its shareholders, affiliates, and their directors, officers, employees, and agents against losses, claims, and reasonable legal fees that arise from your use of the Service or from a breach of this Agreement.
12. Limitation of liability
Unless the law requires otherwise, your exclusive remedy for a default by us on a payment is a refund of the amount we received for that payment and have not yet paid out. We are not liable for incidental, indirect, special, or consequential damages. These limits apply whether a claim is based on negligence, error, omission, or non-performance. We accept no responsibility for the acts or omissions of a third party.
We are not liable for delay or loss caused by circumstances outside our control, including acts of government, national emergency, insurrection, war, or riot; for loss caused by your failure to follow these terms, by a failure of your systems or internet connection, or by a payment system; or where you did not give us correct, complete, and timely information.
The Service is provided “as is” and “as available”. We disclaim warranties of merchantability, fitness for a particular purpose, and non-infringement, to the extent the law allows. Nothing in these terms limits liability that cannot legally be limited.
13. Account closure
You may end this Agreement and close an account by emailing hello@pretium.co.ke. Do not close an account to avoid an investigation. You remain responsible for obligations related to the account after it is closed.
We may end this Agreement and close an account with reasonable notice. We may also close or suspend an account without notice if you breach this Agreement, if a court, regulator, or law enforcement authority requires it, if we have reason to believe you have broken the law, if we have reason to believe the account is involved in fraud, money laundering, terrorist financing, or other illegal activity, or if we suspect a security breach or unauthorised use.
14. Disputes and governing law
Questions and complaints about the website or the Service can be sent to hello@pretium.co.ke.
These terms are governed by the laws of Kenya, except where a written agreement with you states otherwise. Where a dispute is referred to arbitration, you and Pretium waive a jury trial and the right to bring or join a class action, to the extent that waiver is allowed. The prevailing party may recover reasonable costs and legal fees.
Pretium Technologies Ltd
CPA Centre, next to KCA University, Nairobi, Kenya
131 Continental Dr, Suite 305, Newark, DE 19713, United States