User Responsibilities
By using PayFam, you agree to:
- Provide accurate and up-to-date information during registration and while using our services.
- Keep your account credentials secure and notify us immediately of any unauthorized access or use of your account.
- Refrain from using PayFam for any unlawful, fraudulent, or malicious activities.
- Abide by all applicable laws and regulations when using our platform.
Pricing and Fees
PayFam charges the following fees for transactions processed through our platform:
- Bank Transfer - Wallet Static: 1.4% of the transaction amount, capped at N1,500.
- Bank Transfer - Temporary virtual: 1.5% of the transaction amount, or N10 flat, capped at N1,500.
- Card Payments: 1.5% + N50, capped at N2,000.
- International Cards: 4% + $0.12.
- Phone Number Payments: 1.4% of the transaction amount, capped at N1,500.
- Bank Details: 1.4% of the transaction amount, capped at N1,500.
Settlement Policy: All settlements are processed on a T+1 basis (next business day).
Service Usage
PayFam strictly prohibits the use of its platform for:
- Fraudulent or deceptive activities.
- Money laundering or financing of illegal operations.
- Transacting for goods or services prohibited by law.
Violation of this policy may result in suspension or termination of your account and may be reported to the relevant authorities.
Privacy and Data Protection
- PayFam collects user data to ensure the smooth functioning of our services.
- Data may be shared with our Partners for processing purposes.
- User data may also be disclosed upon receipt of a valid court order.
- We take appropriate measures to protect your data but cannot guarantee absolute security.
Disclaimer
- PayFam is not responsible for any loss incurred that does not arise directly from our system.
- PayFam operates in partnership with trusted partners and is not liable for any issues beyond its control.
Dispute Resolution
- PayFam offers 24/7 customer support to resolve any disputes or complaints. You can contact us via customercare@payfam.com.ng.
- If a resolution cannot be achieved amicably, disputes shall be resolved under the jurisdiction of Federal High Courts.
