VaultPay.NG Agent Terms and Conditions:

1. Website Ownership and Control: Agents operating under VaultPay.NG will be provided with their own website by VaultPay.NG for the purpose of running bill payment and Value-Added Services (VAS), including Virtual Top-Up (VTU) services. VaultPay.NG retains absolute ownership and control over the website provided to the agent.

2. Promotion and Service Rendering: Agents are responsible for promoting their assigned website and providing VTU services to customers. This includes but is not limited to advertising, marketing, and customer engagement efforts to drive traffic to the website and increase transaction volume.

3. Transaction Requirement: Agents are required to perform a minimum of 100 transactions within a calendar month to maintain active status and eligibility for continued partnership with VaultPay.NG.

4. Settlement Terms: Agents will be settled on a weekly or monthly basis, with VaultPay.NG taking 60% of the revenue generated from transactions, while agents receive 40%. 

5. Funds Provision: VaultPay.NG will provide the necessary funds for agents to carry out transactions on their assigned website. Agents must utilize these funds exclusively for authorized transactions and are prohibited from using them for personal or unauthorized purposes.

6. Compliance and Regulation: Agents must comply with all applicable laws, regulations, and guidelines governing the provision of electronic payment services and Value-Added Services (VAS) in Nigeria. This includes adherence to anti-money laundering (AML) and know your customer (KYC) requirements.

7. Customer Service Standards: Agents are expected to uphold high standards of customer service when interacting with customers on their assigned website. This includes providing accurate information, resolving customer inquiries and issues promptly, and ensuring a positive customer experience.

8. Data Security: Agents must implement appropriate measures to safeguard the security and confidentiality of customer data and transaction information processed through their assigned website. This includes using secure communication channels, adhering to data protection regulations, and implementing strong security practices.

9. Performance Monitoring: VaultPay.NG reserves the right to monitor the performance and activity of agents on their assigned websites to ensure compliance with these terms and conditions and to maintain the integrity of the platform.

10. Termination of Agreement: VaultPay.NG reserves the right to terminate the agent agreement at any time if the agent fails to comply with these terms and conditions or engages in activities that are detrimental to the platform’s reputation or operations.

11. Modification of Terms: VaultPay.NG reserves the right to modify or update these terms and conditions at any time. Agents will be notified of any changes, and continued use of the platform after the effective date of the modifications constitutes acceptance of the revised terms.

By operating as an agent under VaultPay.NG and utilizing the provided website for bill payment and VTU services, you acknowledge that you have read, understood, and agree to abide by these terms and conditions. Failure to comply with these terms may result in the suspension or termination of your agent account.

Last update 23rd March, 2024.