Terms of Service

1. Eligibility & Account Registration

To use VeePay Technologies, you must be at least 18 years old and legally resident in Nigeria. You agree to provide accurate, complete, and verifiable information during registration, including your full legal name, active Nigerian phone number, and valid email address.

2. Account Security & 4-Digit Transaction PIN

You are solely responsible for maintaining the confidentiality of your login credentials and your 4-digit transaction PIN. Every transaction authenticated with your correct PIN, biometric authorization, or password will be deemed authorized by you. Never disclose your PIN or OTP to anyone, including individuals claiming to represent VeePay Technologies.

3. Dedicated Virtual Accounts & Wallet Funding

VeePay Technologies provides dedicated virtual accounts (via our licensed banking partner PalmPay / ZenithPay) for seamless, automated wallet top-ups. Funds transferred into your assigned account are credited to your digital wallet immediately upon confirmation by the banking network.

4. Interbank Transfers & Finality of Payments

Transfers to external Nigerian commercial banks and microfinance institutions are routed instantaneously through NIBSS switches. Because interbank settlements are immediate, confirmed transfers cannot be canceled or reversed by VeePay Technologies once dispatched to the destination bank. Always cross-verify account numbers and recipient names before inputting your transaction PIN.

5. Airtime, Data & Utility Bill Payments

Purchases of telecom services and utility bills (electricity tokens, cable TV subscriptions) are executed through direct API integrations with service operators. In rare cases of upstream disco or telecom downtime, tokens and value deliveries may take up to 15 minutes. Disputed transactions will be automatically verified and refunded if unfulfilled by the provider.

6. Account Tiers & Daily Limits

In accordance with Central Bank of Nigeria (CBN) regulations, transaction limits are applied based on your verification tier:

• Tier 1 (Phone & Email Verified): Daily transfer limit of ₦50,000; maximum balance of ₦200,000.
• Tier 2 (BVN & NIN Verified): Daily transfer limit of ₦200,000; maximum balance of ₦5,000,000.
• Tier 3 (Address & Document Verified): Daily transfer limit of ₦5,000,000.

7. Prohibited Uses & Account Suspension

You agree not to use VeePay Technologies for illegal activities, money laundering, fraud, terrorist financing, or unauthorized financial intermediation. VeePay Technologies reserves the absolute right to freeze, suspend, or terminate accounts involved in suspicious or abusive operations.

8. Governing Law & Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any disputes arising out of or in connection with these terms shall first be submitted to informal resolution with our customer support before seeking legal arbitration.

9. Contact & Support

If you have any questions regarding these Terms of Service, please reach out to our legal and support team: