Please read the following Terms of Service carefully. By
using Paga or this website, you are agreeing to these Terms
Paga is provided by
Pagatech Limited (âPagatechâ or âWeâ), a private limited liability company licenced by the
Central Bank of Nigeria
to provide electronic payment systems services.
You are required to
read and understand these terms, as they are a binding agreement between you and Pagatech.
Customers who are under
By registering for a
Paga Account or Wallet or using any of the services provided on this website, you
and all rules,
guidelines, policies, terms, and conditions applicable to such
service, and they shall be deemed to be incorporated into this Terms
of Use and shall be considered as part and parcel of this Terms of
equivalent to your electronic value in one of its pool accounts domiciled at any of the CBN
licensed commercial banks or where applicable a third-party provider of the service you are
using through Paga.
- 1.1. "Account" or "Wallet" is an electronic stored value account
on Paga created for
use by the customer or Agent. Credits, debits and charges are applied to this Account. The
primarily accessed through your mobile phone, the Paga online systems, and mobile
- 1.2. "Agent" refers to any party or device, including authorized Paga
Agents, Merchants, ATMs,
connected kiosks and bank tellers that facilitate Paga transactions on behalf of customers.
- 1.3. "ATM" means automated teller machine.
- 1.4. "BVN" means Biometric Verification Number used by the banking industry
in Nigeria and issued
by a CBN approved financial institution.
- 1.5. "CBN" means for the Central Bank of Nigeria
- 1.6. "Content" means all information whether textual, visual, audio or
otherwise, appearing on or
available through the services.
- 1.7. "Credit" means the movement of funds into an Account or Wallet.
- 1.8. "Debit" means the movement of funds out of an Account or Wallet.
- 1.9. "IVR" stands for Interactive Voice Response system, the automated
phone line that allows a
computer to recognize voice and keypad inputs.
- 1.10. "Level 1 customer" refers to a new
customer who provides the minimum requirement listed in [4.9] below and as defined in the
CBN three tier
Know Your Customer (KYC) requirements, either in a self sign-up process or to a Paga agent
- 1.11. "Level 2 customer" refers to a Paga user who has submitted his phone
number, full name,
full address and a copy of a verifiable ID card or phone number and BVN as defined in the
CBN three tier KYC
requirements either in a self sign-up process or to a Paga agent or authorized
- 1.12. "Level 3 customer" refers to a Paga user who has linked his Paga
Account with his BVN or has
linked his Paga Account to his bank account with one of the banking institutions licensed by
the CBN and has
provided all required KYC information as defined in the CBN three tier KYC requirements,
either in a self
sign-up process or to a Paga agent or authorized administrative centre.
- 1.13. "Linked Bank Account/Card" refers to the bank account or bank debit
or credit card that you
have linked to your Paga Account. This allows you to carry out transactions using funds from
account or bank card instead of using your Paga Account balance.
- 1.14. "Merchant" means any person or entity who offers and or accepts
payment for goods or
services using Paga.
- 1.15. "Mobile Payments" describes the service or process that allows
customers to make and receive
a variety of payments using their mobile phone, among other channels. This service is
available as part of
- 1.16. "Mobile phone" means a GSM or CDMA device, which can make and receive
telephone calls and
send and receive SMS, among other communication options.
- 1.17. "NUBAN" means Nigerian Unified Banking Account Number.
- 1.18. "OTP" means One Time Pin, used to authorize transactions or
- 1.19. "Paga" refers to the financial services products offered by
Pagatech, with a central feature being a transactional account(s) that may be used in
relation to a wide
variety of services.
- 1.20. "PIN" means personal identification number being the secret code you
choose for secure use
of (and access to) your Paga account.
- 1.21. "Products" refer to Paga products, including person-to-person money
transfer, bill payments,
airtime top-up, Paga retail payments services or other Merchant products and services
provided through Paga.
- 1.22. "Registered phone number" refers to any phone number that has been
registered on Paga.
- 1.23. "Services" any products and services provided to the customer as
part of Paga.
- 1.24. "Paga Wallet" means an electronic stored value account on Paga used
to perform transactions.
- 1.25. "Partner Service Provider:" means any person or entity that offer its
services or products through Paga.
- 1.26. "Transaction Savings Wallet": An electronic stored value savings
account on Paga, used by the
customer or Agent to save, earn interest and perform typical Paga transactions.
- 1.27. "SMS" or "Short Message Service" is a standard
communication service on GSM phones, which is used to exchange short text messages between
- 1.28. "USSD" or "Unstructured Supplementary Service Data"
is a real time
messaging channel accessed from a mobile phone and allows user to interact with Paga.