These Terms and Conditions (the “Agreement”) govern the use of the POS services provided by Prospa (the “Company”) to its members. By using a purchasing a Prospa POS, you agree to be bound by the terms and conditions outlined below:
“Member” refers to any individual or entity using a POS provided by the Company. Any business or entity accepting payments through the Company’s POS Device.
“POS Device/Terminal” refers to the Point of Sale terminal or equipment provided by the Company for transaction processing.
“Transaction” refers to any inbound card transaction conducted using the Company’s POS Device.
“Agreement” refers to these terms and conditions.
Use of POS Services
- Prospa provides POS services to its members for processing payments and transactions with customers.
- The Member agrees to use the POS Device solely for legitimate and lawful transactions and not for any illegal or fraudulent activities.
Ownership and Care of POS Device
- The POS Device remains the property of the Company and is provided to the Member on a lease or rental basis.
- The Member is responsible for the safekeeping of the POS Device and shall take reasonable care to prevent damage or theft.
- In the event of damage, loss, or theft of the POS Device, the Member must inform the Company immediately and may be liable for replacement or repair costs.
- The member agrees to complete at least 40 transactions daily with a minimum value of 10,000.
- The member agrees to the retrieval of the POS in the event of inactivity.
- The Company shall ensure the seamless processing of transactions initiated by Member and due credit into the member’s Prospa account
- Transactions are subject to verification and authorization by the relevant financial institutions.
- The Company reserves the right to flag any transaction deemed suspicious or fraudulent.
Fees and Charges
- The Member agrees to pay the commitment fee outlined by the company.
- The Member agrees to pay the fees and charges associated with the use of the POS services as outlined by the Company.
- The Company may update or modify the fees and charges with prior notice to the Customer.
Confidentiality and Data Protection
- The Company shall take reasonable measures to protect the Member’s personal and financial information in accordance with applicable laws and regulations.
- The Member agrees not to disclose any confidential information related to the Company’s operations and services.
- The Member shall indemnify and hold the Company harmless against any losses, damages, or liabilities arising from the Member’s misuse of the POS Device or violation of this Agreement.
- The Company reserves the right to terminate this Agreement and suspend the provision of services if the Customer breaches any terms outlined herein.
- The Member may terminate this Agreement by providing prior written notice to the Company.
Governing Law and Jurisdiction
- This Agreement shall be governed by and construed in accordance with the laws of the Republic of Nigeria.
- Any disputes arising from this Agreement shall be subject to the exclusive jurisdiction of the courts in Nigeria.