WELCOME TO Lilypoint

This contract is between you and Lilypoint Inc. ("Lilypoint", "we", "us", or "our" as applicable) and governs all aspects of your use of our Services, including the website, app, and any materials provided by Lilypoint. By creating a Lilypoint account, accessing our Services, or interacting with us, you agree to be bound by this Agreement and consent to receive communications in electronic format. You confirm that you are at least 18 years old and legally capable of entering this Agreement. You fully accept the Privacy Policy and Acceptable Use Policy. If you disagree with any terms, you must not use the Services.

It is essential that you read and understand all the terms of each of our policies as well as all the other agreements that are applicable to you. For certain Services, we may have additional terms and conditions that we will communicate to you through the Service or by other means, and these supplementary terms and conditions shall be included in this Agreement.

PURPOSE AND SCOPE OF AGREEMENT

This Terms of Service is an Agreement between you and Lilypoint. It outlines the terms and conditions that govern your use of the Platform and its services, detailing Lilypoint’s obligations to you. It also highlights certain risks involved in using the services, which you must consider carefully, as this Agreement will bind you through your use of this website or any of our services.

Our Services allow you to transfer money, send or receive funds into your Lilypoint Balance, convert currencies, withdraw funds, and send money to recipients. Lilypoint reserves the right to refuse any transaction or account operation at any time.

REGISTRATION

• To use Lilypoint, you must create an account by registering. During registration, you’ll provide information such as your email, name, business name, and phone number. We may verify this information (either directly or through third parties) before approving your account, unless deemed risky. You give us permission to do so.
• If you update your information, such as your business name, address, or payment methods, you agree to notify us within 14 days. We may not respond to unregistered contact information.

GETTING TO KNOW YOU

We are legally obligated to perform necessary security and customer due diligence checks on you (and any parties involved in your transactions, such as recipients) to provide our services. You agree to provide any additional information requested in a format we find acceptable. We may verify your details, including using third-party databases or credit checks. Lilypoint reserves the right to suspend, limit, or close your account if we cannot verify the information. You also authorize us to obtain your credit reports when needed to maintain your account.

ACCOUNT SECURITY

You are solely responsible for the security and control of your email IDs, passwords, or other credentials used to access your Lilypoint Account and Services. You agree not to share these details and to follow all security instructions. Lilypoint is not liable for any losses if you share your password. You must take reasonable steps to secure the device you use to access Lilypoint (e.g., enabling 2FA, using PINs or passwords). Immediately change your password and contact Lilypoint customer support if:

• Anyone asks for your password, OTP, or any other security-related information for your Lilypoint Account.
• Your email address becomes compromised.
• You suspect your Lilypoint Account, password, or login details have been stolen, used without authorization, or otherwise compromised.
• Your Lilypoint Account transaction history shows activities you did not initiate.

We may suspend or limit your Lilypoint Account if we have concerns about its security or suspect unauthorized or fraudulent activity.

AGE RESTRICTION

Our website and services are intended for users aged 18 and above. You may only use the Services if you are 18 or older. We do not knowingly serve individuals under 18.

SOFTWARE LICENSE

For businesses, we grant a revocable, non-exclusive, non-transferable license to use Lilypoint’s APIs and software in accordance with provided documentation. Misuse may result in liability for damages.

CHARGES AND FEES

You agree to pay for the services provided. Fees will be calculated based on the Pricing page on the website. Lilypoint will transfer the settled amount to your designated bank or card account, minus fees and any reversals or chargebacks. If either party disputes an invoice, the dispute must be raised within 48 hours. We reserve the right to change fees.

TRANSACTIONS, SERVICES AND PAYMENTS

You can deposit funds into your Lilypoint account using methods such as bank transfer (ACH, wire, SWIFT, etc.), credit cards, or debit cards. These deposits are managed by third-party providers, and we cannot guarantee the availability of any particular method. We will credit your Lilypoint account once we receive the deposit. In some cases, you may need to provide evidence of the source of funds to meet regulatory requirements. Lilypoint is not a bank, and all funds are safeguarded but not insured by FDIC or similar entities.

It is your responsibility to ensure accurate information when sending or withdrawing funds. Transactions are final and cannot be reversed, except as required by applicable law.

CONFIDENTIAL INFORMATION

The parties acknowledge that during the performance of this Agreement, each may share certain confidential and proprietary information. This includes business plans, technology, and other sensitive data. Confidential Information excludes information that is public, independently developed, or disclosed by third parties without breach. The receiving party agrees to keep such information confidential, only disclose it as necessary for business purposes, and protect it with at least the same care as their own confidential data.

DISCLAIMERS

Lilypoint strives to keep the website bug-free and available, but it is used at your own risk. Our services are provided "as is," without any warranties. Lilypoint does not guarantee that the website will meet your needs, or that it will be uninterrupted or error-free.

LIMITATION OF LIABILITY

YOUR USE OF Lilypoint’S SITE AND SERVICES IS AT YOUR OWN RISK. YOU AGREE TO THE LIMITATION OF LIABILITY TO THE FULLEST EXTENT PERMITTED BY LAW: Lilypoint WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF REVENUE, PROFITS, DATA, OR BUSINESS INTERRUPTION, ARISING FROM YOUR USE OR INABILITY TO USE Lilypoint’S SERVICES, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY.

Certain jurisdictions may not allow these limitations, so they may apply to you only to the extent allowed by law.

KNOW YOUR CUSTOMER

As a business, you are responsible for verifying your customers' identities, ensuring they are authorized to make transactions, and keeping records of product or service deliveries. In case of disputes, Lilypoint may request this information from you.

INDEMNITY

You agree to indemnify and hold Lilypoint, its staff, and affiliates harmless from any losses, damages, liabilities, or expenses (including reasonable legal fees) resulting from your breach of these Terms or claims related to your account actions. This includes changes to your practices, content, or behavior due to any updates to this Agreement. You also agree to indemnify Lilypoint against claims regarding violations of intellectual property or third-party rights arising from your use of the Services.

If you have a dispute with another Lilypoint user or third party, you release Lilypoint from all related claims and damages.

TERMINATION

You may terminate this Agreement by closing your Lilypoint account.

We may, at our discretion, suspend or close your Lilypoint account or terminate this Agreement if:

• You breach any provisions of this Agreement;
• We are required by law or authorities;
• Directed by a financial institution or Card Network;
• Suspicious or fraudulent transactions occur;
• Involvement in illegal activities is suspected.

If your account is terminated, we will notify you and release any unrestricted funds for withdrawal.

HOW DO I CLOSE MY Lilypoint ACCOUNT

You may close your Lilypoint account at any time by following these steps:

• Log in to your account on the mobile app
• Navigate to "More"
• Select "Delete your account"
• Agree to the terms of service
• Tap the "Continue with account deletion" button
• Enter your reason for deleting the account and your account password
• Tap the "Delete account" button

Pending Payments
If there are any pending transactions when you initiate account deletion, your Lilypoint account will be closed once those transactions are completed.

Remaining Balances
Before closing your account, ensure all balances are withdrawn or used. Any unused funds in your Lilypoint account may be lost after account deletion, and Lilypoint will not be responsible for any loss.

You will need to do this for each currency in which you hold funds.

You cannot close your Lilypoint account to avoid an investigation. If you try to close your account during an investigation, Lilypoint may hold your funds until it is fully resolved. You will remain responsible for any obligations tied to your account even after closure. As a regulated financial institution, Lilypoint is required to retain some of your data for compliance purposes, including security, fraud prevention, anti-money laundering, and reporting.

DISPUTE RESOLUTION

...

With regard to your Lilypoint Account, the following are considered Errors:

• Incorrect withdrawal, deposit, or recording of transactions in your Lilypoint Account;
• Sending or withdrawing money with incorrect amounts debited or credited;
• Missing or unlisted transfers in your account statement;
• Mathematical or computational errors related to your account;
• Requests for clarification or status inquiries on transfers to or from your account.

If you suspect an Error, contact us for investigation within 10 business days, or up to 45 days if more time is needed.

• If you give someone access to your Lilypoint Account (by giving them your login information) and they use your Lilypoint Account without your knowledge or permission. You are responsible for transactions made in this situation;
• Invalidation and reversal of a payment or transaction as a result of the actions described under Reversals and Chargebacks;
• Routine inquiries about your Lilypoint Account balance;
• Requests for duplicate documentation or other information for recordkeeping purposes;
• An inquiry about the status of a currency conversion order (except where the funds from the order were not made available to the recipient by the disclosed date of availability);
• A change requested by the recipient of funds sent from you;
• A change in the amount or type of currency received by a designated recipient from the amount or type of currency stated in the disclosure provided you, if we relied on information provided by you in making the disclosure;
• Delays that result from Lilypoint applying holds or limitations. Our decision about holds or limitations may be based on confidential risk management procedures and the protection of Lilypoint, our customers and/or service providers. In addition, we may be restricted by regulation or a governmental authority from disclosing certain information to you about such decisions. We have no obligation to disclose the details of our risk management or security procedures to you;
• Delays based on a review of a potentially high-risk transaction;
• Your errors in making a transaction (for example, mistyping an amount of money that you are sending or choosing an incorrect destination Currency).
• Delays due to actions of third parties (e.g, your or a recipient's bank)

SEVERABILITY

The invalidity or unenforceability of any provision of this Agreement shall not affect the validity of the remaining provisions.

ASSIGNMENT

We may assign or transfer our rights and obligations under these terms. You may not do so without our prior written consent.

REVERSALS AND CHARGEBACKS

If a payment is invalidated, you are responsible for the full amount and any fees. Lilypoint may reverse transactions for fraud, errors, or unauthorized payments.

UPDATES, MODIFICATIONS & ADJUSTMENTS

Lilypoint reserves the right to update these Terms, with changes posted on this page and effective immediately.

DATA PROTECTION

Lilypoint complies with applicable Data Protection Laws, including GDPR, and processes your personal information in line with our Privacy Policy.

THIRD-PARTY MATERIALS

Certain functionalities on the Website or App may provide access to third-party information, products, or services (“Third Party Materials”) through links. By using this functionality, you are directing us to provide you access to these materials.

Your interaction with such materials is strictly between you and the third party, and Lilypoint is not liable for any losses resulting from those interactions. We do not control or endorse third-party materials and are not responsible for their accuracy, validity, or safety.

Your use of Third Party Materials is at your own risk, subject to any applicable third-party terms.

GOVERNING LAW

This Agreement is governed by the laws of the United States of America.

CONTACT US

This website is owned by Lilypoint Inc. If you have complaints or inquiries, contact us via customer support on the website or email at hello@Lilypoint.com.ng.