Terms of Service

1. Nature of Infrastructure Services

PayTaara Financial Infrastructure Ltd provides financial payment gateway software, virtual NUBAN account generation APIs, and disbursement tools. PayTaara is a technology service provider and operates in technical partnership with CBN-licensed banks and licensed Payment Solution Service Providers (PSSPs).

2. Merchant Registration & KYC Compliance

To use PayTaara APIs or issue dedicated NUBAN accounts, merchants must complete mandatory KYC verification (BVN/NIN for individuals, CAC documentation and Ultimate Beneficial Owner verification for corporate entities) in strict compliance with Central Bank of Nigeria (CBN) AML/CFT 2022 guidelines.

3. Prohibited Transactions & Zero-Tolerance Fraud Policy

The following activities are strictly prohibited on the PayTaara infrastructure:

• Fraudulent transfers, romance scams, advance fee fraud (419), or unauthorized account takeovers.
• Unlicensed gambling, Ponzi/pyramid schemes, weapons sales, or illicit drug transactions.
• Money laundering or terrorism financing.

PayTaara reserves the right to immediately freeze accounts, hold pending payouts, and submit full transaction logs to the Economic and Financial Crimes Commission (EFCC) and NFIU upon suspicious activity detection.

4. Fees & Settlement Terms

Transaction processing fees are applied according to agreed merchant pricing tiers. Settlements are disbursed into designated merchant bank accounts subject to standard clearing house reconciliation windows.

5. Limitation of Liability

To the maximum extent permitted by law, PayTaara shall not be liable for indirect, incidental, or consequential damages resulting from banking network downtime, telecommunication outages, or third-party partner bank delays beyond our reasonable control.