Thank you for using our payment services which are governed by these Terms of Use. Please read them
carefully.
Scope of these Terms of Use
These Terms of Use govern the opening, use and closure of your Smartpay Account and other related payment
services as referred to herein. Together with our Privacy Policy, and any other terms and conditions referred to
therein, they constitute the legal relationship between you and us. For the use of additional services you may
have to accept additional terms and conditions as notified to you when you are ordering or using such
services. You are advised to print or download and keep a copy of these Terms of Use for future reference. You
can always view the current Terms of Use on our Website. A copy of these Terms of Use will be emailed to
you after registration for a Smartpay account.
2.2. You are also advised to read the answers to the “Frequently Asked Questions” which are published on our
Website.
2.3. Depending on the type of Smartpay Account you have, additional terms and conditions may apply and will
be communicated to you at the appropriate time.
Your Smartpay Account
3.1. Your Smartpay Account is an electronic money account which enables you to send and receive electronic
payments.
3.2. The electronic money on your Smartpay Account is issued in accordance with the Payment Systems Act
2003 (Act 662)
3.3. Your Smartpay Account is denominated in Ghana Cedis. You cannot change the currency of your Smartpay
Account.
3.4. Subject to section 7, the electronic money held on your Smartpay Account does not expire but it will not
earn any interest.
3.5. You have the right to withdraw funds from your Smartpay Account at any time. However, you may be
required to confirm your identity beforehand. There is no minimum withdrawal amount but the funds on your
Smartpay Account must be sufficient to cover any applicable withdrawal fee. You can choose the method of
withdrawal when submitting your withdrawal request.
3.6. Electronic money accounts are not bank accounts. By accepting these Terms of Use you acknowledge that
in the unlikely event that we become insolvent, you may lose the electronic money held in your Smartpay
Account. However, we strictly adhere to the legal requirements under the Payment Systems Act 2003 (Act
662) national legislation which are designed to mandate the Bank of Ghana to promote and supervise
electronic and other payment, funds transfer, clearing and settlement systems, to ensure the safety and
liquidity of funds deposited in electronic money accounts.
3.7. The electronic money on Smartpay Account belongs to the person or legal entity which is registered as the
Smartpay Account holder. No person other than the Smartpay Account holder has any rights in relation to the
funds held in a Smartpay Account, except in cases of succession. You may not assign or transfer your Smartpay
Account to a third party or otherwise grant any third party a legal or equitable interest over it.
3.8. Your Smartpay Account may be subject to adding of funds, payments and withdrawal limits, depending on
your country of residence, the verification status of your Smartpay Account, channel or mode of transaction
and other factors used by us to determine such limits from time to time at our sole discretion.
Opening Your Smartpay Account
4.1. In order to use our payment services you must first open a Smartpay Account by registering your details on
our Website or through our Mobile App. As part of the signup process you will need to accept these Terms of
Use and our Privacy Policy and you must have legal capacity to accept the same. If you order additional
services, you may be asked to accept additional terms and conditions.
4.2. If you are an individual, you must be 18 years or older to use our services and by opening a Smartpay
Account you declare that you are 18 years or older. This does not apply to products for which we set a
different age limit. We may require at any time that you provide evidence of your age.
4.3. You may only open one Smartpay Account per email address unless we explicitly approve otherwise.
4.4. You may only open a Smartpay Account if it is legal to do so in your country of residence. By opening a
Smartpay Account you represent and warrant to us that your opening of a Smartpay Account does not violate
any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection
with your breach of this section.
4.5. All information you provide during the signup process or any time thereafter must be accurate and
truthful.
4.6. You may only add payment instruments (such as bank accounts, credit or debit cards) to your Smartpay
Account if you are the named holder of that payment instrument. We take any violation of this requirement
very seriously and will treat any attempt to add a payment instrument of which you are not the named holder
as a fraudulent act.
4.7. During signup you will be asked whether you intend to use your Smartpay Account for private or
commercial purposes. If you have any intention to use your Smartpay Account for commercial purposes, you
must tell us, even if you use it also for private purposes. If you have stated that you will use your Smartpay
Account for private purposes only, you must tell us immediately before, at any point in the future you use it
for commercial purposes by contacting Customer Service. You are using your Smartpay Account for commercial
purposes if you are receiving payments for or in connection with any business activity. We reserve the right to
determine whether, in our reasonable opinion, you are using your Smartpay Account for commercial purposes.
If you are using your Smartpay Account for commercial purposes, in addition to these Terms of Use, you shall
be bound by our Merchant Agreement and you shall pay fees as detailed in the agreement or on our website.
If you are in any doubt about whether or not an activity amounts to a commercial activity, you should contact
Customer Service.
4.8. Within 15 days of the date of opening your Smartpay Account, you may close your Smartpay Account at no
cost by contacting Customer Service, however, if you have uploaded funds into your Smartpay Account, you
may be required to provide identification documents before being able to withdraw funds. Transactions and
fees for transactions undertaken before you close your Smartpay Account (including those transactions that are
not revocable and have been initiated but not completed before closure of your Smartpay Account) will not be
refunded.
Maintaining Your Smartpay Account
5.1. You must ensure that the information recorded on your Smartpay Account is always accurate and up to
date and we shall not be liable for any loss arising out of your failure to do so. We may ask you at any time to
confirm the accuracy of your information or to provide documents or other evidence.
5.2. We may contact you by e-mail or in other ways described in section 18 with information or notices
regarding your Smartpay Account. It is your responsibility to regularly check the proper functioning of your e-
mail account or other methods of communication that you have registered with your Smartpay Account and to
retrieve and read messages relating to your Smartpay Account promptly. We shall not be liable for any loss
arising out of your failure to do so.
5.3. Account funding, payments received, payments sent and fund withdrawals are displayed in your online
transactions history. Each transaction is given a unique transaction ID and shown in the transaction history.
You should quote this transaction ID when communicating with us about a particular transaction. You should
check your Smartpay Account balance and transaction history regularly. You should report any irregularities or
clarify any questions you have as soon as possible by contacting Customer Service.
5.4. Subject to the provisions of section 8 below and without prejudice to the provisions of section 9.5(A), in
order to claim a refund for an unauthorised or incorrectly executed payment transaction on your Smartpay
Account you must notify us without undue delay after becoming aware of the unauthorised or incorrect
transaction and in any event no later than thirty (30) days after the debit date of the transaction.
Keeping Your Smartpay Account Safe
6.1. You must take all reasonable steps to keep your Smartpay Account password and security details safe at all
times and never disclose it to anyone. Our personnel will never ask you to provide your password or security
details to us or to a third party. Any message you receive or website you visit that asks for your password,
other than the Smartpay Website, should be reported to us. If you are in doubt whether a website is genuine,
you should contact Customer Service. It is advisable to change your password regularly (at least every three (3)
to six (6) months) in order to reduce the risk of a security breach in relation to your Smartpay Account. We also
advise you not to choose a password that is easily guessed from information someone might know or gather
about you or a password that has a meaning. You must never allow anyone to access your Smartpay Account or
watch you accessing your Smartpay Account.
6.2. If you have any indication or suspicion of your Smartpay Account, login details, password or other security
feature being lost, stolen, misappropriated, used without authorisation or otherwise compromised, you are
advised to change your password. You must contact Customer Service without undue delay on becoming
aware of any loss, theft, misappropriation or unauthorised use of your Smartpay Account, login details,
password or other security features. Any undue delay in notifying us may not only affect the security of your
Smartpay Account but may result in you being liable for any losses as a result. If you suspect that your Smartpay
Account was accessed by someone else, you should also contact the police and report the incident.
6.3. We may suspend your Smartpay Account or otherwise restrict its functionality on reasonable grounds
relating to the security of the Smartpay account or any of its security features or if we reasonably suspect that
an unauthorised or fraudulent use of your Smartpay Account has occurred or that any of its security features
have been compromised. We will notify you of any suspension or restriction and of the reasons for such
suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or
restriction has been imposed, unless notifying you would be unlawful or compromise our reasonable security
interests. We will lift the suspension and/or the restriction as soon as practicable after the reasons for the
suspension and/or restriction have ceased to exist.
6.4. You must take all reasonable care to ensure that your e-mail account(s) are secure and only accessed by
you, as your e-mail address may be used to reset passwords or to communicate with you about the security of
your Smartpay Account. In case any of the e-mail addresses registered with your Smartpay Accounts are
compromised, you should without undue delay after becoming aware of this contact Customer Service and
also contact your e-mail service provider.
6.5. Irrespective of whether you are using a public, a shared or your own computer to access your Smartpay
Account, you must always ensure that your login details are not stored by the browser or cached or otherwise
recorded. You should never use any functionality that allows login details or passwords to be stored by the
computer you are using.
6.6. Additional products or services you use may have additional security requirements and you must
familiarise yourself with those as notified to you.
Closing Your Smartpay Account
7.1. You may close your Smartpay Account at any time by contacting Customer Service.
7.2. If your Smartpay Account holds a balance at the time of its closure, we will ask you to withdraw your funds
within a reasonable period of time, during which your Smartpay Account will be accessible for the purpose of
withdrawing the remaining balance only. After the expiry of this period you will not be able to access your
Smartpay Account but you may withdraw any remaining funds by contacting Customer Service and requesting
that the funds are sent to you in a manner that is reasonably acceptable for us. You may do so for a period of
sixty days from the date of closure of your Smartpay Account but we suggest that you withdraw your remaining
funds as soon as possible as they will not earn any interest while being deposited in your Smartpay Account.
Your obligations with regards to keeping your Smartpay Account safe as set forth in section 6 shall continue to
apply.
7.3. We reserve the right to carry out any necessary money laundering, terrorism financing, fraud or other
illegal activity checks before authorising any withdrawal of your funds, including in relation to returning any
funds to you after you have closed your Smartpay Account.
Adding Funds
8.1. You can add funds by visiting the Website, logging into your Smartpay Account and following the relevant
Add Funds instructions. You may be presented with a number of different Add Funds methods, depending on
which payment instruments you have added to your Smartpay Account and which payment methods are
available in your country of residence and the amount you want to add. Add fund methods are payment
services provided by third party financial institutions (for example, the issuer of the payment card you use to
upload funds or third party direct banking service providers) and are not part of our service. We do not
guarantee the use of any particular upload method made available, and may make changes to or discontinue
the acceptance of any particular upload method at any time without following the procedure set out in section
17. Notwithstanding section 8.7 below, we shall not be responsible for the upload payment until the uploaded
funds are received by us.
8.2. You may be asked to answer security questions or to complete other activities that we may reasonably
require to ensure proper authorisation of an add fund transaction.
8.3. If you choose an Add Fund method using a payment instrument that may be subject to chargeback rights
such as (but not limited to) credit or debit card or direct debit, you declare that you will not exercise such
chargeback right other than for unauthorised use of the payment instrument or for a breach by us of these
Terms of Use which would result in you having a right to a refund of the uploaded amount. Otherwise, you
may not charge back any Add Funds transaction or allow a chargeback of any upload transaction for reasons
for which we are not responsible including (but not limited to) disputes with merchants for non-delivery of
goods or services or insufficient balance on the payment instrument account. We reserve the right to charge
you fees and expenses we incur in connection with such chargeback and any action undertaken to challenge
the same.
8.4. You may allow a merchant that you wish to pay through us on a regular basis (e.g. for a subscription
service) to debit your Smartpay Account for each recurring payment. In this case you authorise us to debit the
payment instrument (e.g. your credit card or bank account) which you used to make the original payment also
for each subsequent payment. In order to cancel recurring payments for the future, you should (a) contact us and (b) notify the merchant from which you have purchased the goods or services that you have cancelled the
recurring payment. You should not cancel or otherwise reverse such recurring transactions by simply
contacting the issuer of the payment instrument (e.g. your credit card provider or bank) without following the
cancellation steps mentioned in this section 8.4. Subject to section 8.5, we will not be liable for any recurring
payment(s) that are made before you have notified us of the cancellation and if your Smartpay Account
balance goes into negative as a result of such payment(s), you will be liable to repay such amount to us.
8.5. We will refund any past recurring payment(s) initiated by or through the merchant provided that (a) the
original authorisation given to us or the merchant did not specify the exact amount of the payment and (b) the
amount of the payment exceeded the amount that you could reasonably have expected taking into account
your previous spending pattern and the circumstances of the case. You must request such a refund within
eight weeks from the date the funds were debited from your Smartpay Account. You agree to provide us with
such information as is reasonably necessary to ascertain whether the conditions for a refund described in this
section 8.5 are satisfied. Within ten (10) Business Days of receiving a request for a refund or, where applicable,
of receiving any further information we requested from you, we will either refund the full amount of the
payment or provide you with justification for refusing to refund the payment.
8.6. If a chargeback or reversal of an Add Fund transaction results in a negative balance in your Smartpay
Account, you will be required to repay such negative balance by Adding sufficient funds into your Smartpay
Account. Failure to do so is a breach of these Terms of Use. Repayment of the negative balance is due
immediately without notice. We reserve the right, at any time, to send you reminders or to take other debt
collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue
the claim in court. We reserve the right to charge you the expenses we reasonably incur in connection with
any debt collection or enforcement efforts.
8.7. Added funds will be credited to your Smartpay Account after the funds have been received by us. Some
Add Funds transactions, such as those by credit or debit card, direct debit or direct banking will be credited to
your Smartpay Account immediately, but are subject to reversal in case the actual funds do not reach us within
a reasonable time in which case we will deduct such reversed transaction from the balance of your Smartpay
Account. If your Smartpay Account balance is insufficient, we reserve the right to require repayment from you.
8.8. For the purposes of an Add Fund transaction through a payment instrument, we are a payment recipient
and not a payment service provider.
8.9. You must not make an Add Fund transaction through a payment instrument if you are not the named
holder of that payment instrument. We take any violation of this requirement very seriously and will treat any
attempt to use a payment instrument of which you are not the named holder as a fraudulent act. Without
prejudice to claiming further damages, if we are required to return funds uploaded from a payment
instrument that is not in your name, we may charge an administration fee which will be communicated prior
to.
8.10. Funds added may be subject to Add Fund limits due to security and legal requirements. These limits are
set dynamically depending on your verification status and the Add Fund method you want to use. You should
be aware that depending on your verification status your Add Funds limits may be higher than your
withdrawal or spending limits. You can view these limits at any time in the relevant section of your Smartpay
Account profile.
8.11. Transaction fees and currency conversion fees for Adding Funds depends on which upload method and
payment instrument is chosen. Please see section 13 for details.
Making Payments
9.1. To make a payment you are required to authorise the payment with your login details and password. We
may also ask you additional security questions relating to you or your Smartpay Account. If your Smartpay
Account is protected by additional security measures such as password tokens, you need to follow the instructions provided to you with such additional security measures. If your Smartpay Account is enabled to
make mass payments, the procedure to make such payments will be communicated to you in the relevant
integration manual.
9.2. Every recipient of a payment you wish to make through us must have a valid means that we can use for
their identification. For most of our services that means of identification will be a valid e-mail address but
other means of identification may be required for our other services (for example for the Smartpay to Smartpay send services, we may require you to provide us with the recipient's email address and mobile telephone
number).
9.3. If you are asked to provide d etails of the recipient’s e -mail address or other means of identification, where
applicable, you must take great care to properly type the exact details of who you wish to send money to. We
use those details as the unique identifier to determine the intended recipient of the payment which you
instruct us to process. Other information you provide along with the recipient’s means of identification may be
disregarded and we shall not be liable for any error you make when entering the recipient’s means of
identification.
9.4. If the e-mail address of the intended recipient is registered with us, the funds will be instantly credited to
the Smartpay Account associated with that e-mail address.
9.5. If the recipient’s e-mail address is not registered with us, we will send a notification e-mail to that e-mail
address with instructions on how to claim and receive the payment. If the recipient does not claim the
payment within 14 days, the transaction will be cancelled and the funds will be returned to you. You may also
cancel the transaction at any time before the funds have been credited to the recipient’s Smartpay Account. To
cancel a transaction you should log into your Smartpay Account, locate the relevant transaction in your
transactions history and select “Cancel”.
5(A). To provide a money transfer using our Send Money transfer service, we may use third party
intermediaries to complete the money transfer to a recipient if the recipient does not have a Smartpay
Account. Therefore when providing this service the funds will be instantly credited to the Smartpay Account of
the relevant intermediary. That intermediary shall then be responsible for ensuring the onward transmission
of the payment to the recipient. As a consequence, sections 9.4 and 9.5 shall not apply to the Send Money
service. Without prejudice to section 16.4, our obligations under these Terms of Use for the onward
transmission of funds shall be complete once such funds have been credited by us to the Smartpay Account of
the relevant intermediary. As a consequence, once such credit has been made by us, we shall not be
responsible for the onward transmission of such funds by that intermediary.
You can make recurring payments by setting up a recurring payment order on your iWalet Account. You can
cancel your recurring payment order for future payments at any point by logging into your Smartpay Account
and deleting it. You will not be able to cancel transactions that have already been credited to the recipient.
Automatic money transfers on a regular or recurring basis are not provided as part of the Send Money service
where the recipient does not have a Smartpay Account and therefore this section 9.6 shall not apply to that
service.
Payments are subject to payment limits due to security and legal requirements. These limits are set
dynamically depending on your verification status (Minimum and enhanced KYC status). You can view these
limits at any time in your Smartpay Account profile. You should ensure that your limits are sufficient to cover
the payment you intend to make as well as any applicable fees including service fees and currency conversion
fees. You should be aware that the recipient of a payment may also be subject to spending and withdrawal
limits and that this may affect the recipient’s access to the funds you intend to send.
Sending payments is subject to fees and currency conversion fees depending on the type of payment you make
and the type of Smartpay Account you hold. Please see section 14 for details.
Receiving Funds
10.1. If you receive funds into your Smartpay Account, we will send you a notification e-mail and display the
payment in your Money Story. You should regularly reconcile incoming payments with your own records.
10.2. You should be aware that receipt of funds to your Smartpay Account does not necessarily mean that
these transactions cannot be reversed. We reserve the right to reverse a payment in case the payer or the
payer’s bank or payment service provider has charged back or otherwise reversed (or is reasonably likely to
charge back or otherwise reverse) an Add Fund or other payment which was used to fund the payment to you.
10.3. If a person received a payment notification from us indicating that someone has sent them funds to an
email address that is not registered, they will not be credited with the payment until it has been claimed in
accordance with the instructions laid out in the notification e-mail. Until then, there will be no contractual or
fiduciary relationship between us and the intended recipient. The funds remain those of the sender.
Prohibited Transactions
11.1. It is strictly forbidden to send or receive payments as consideration for the sale or supply of:
- Tobacco products
- Prescription drugs
- Drugs and drug paraphernalia
- Weapons (including without limitation, knives, guns, firearms or ammunition)
- Satellite and cable TV descramblers
- Pornography, adult material, material which incites violence, hatred, racism or which is considered
obscene
- Government IDs and licences including replicas and novelty items and any counterfeit products
- Unlicensed or illegal lotteries or gambling services (including without limitation the use of or
participation in illegal gambling houses)
- Unregistered charity services
- Items which encourage or facilitate illegal activities
- Prepaid debit cards or other stored value cards that are not associated with a particular merchant
and are not limited to purchases of particular products or services
- Multi-level marketing, pyramid selling or ponzi schemes, matrix programmes or other “get rich quick”
schemes or high yield investment programmes
- Goods or services that infringe the intellectual property rights of a third party.
- Un-coded/miscoded gaming
- Timeshares or property reservation payments (On and Off Plan)
We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such
categories either to these Terms of Use or an acceptable use policy published on the Website.
11.2. It is strictly forbidden to make payments to or to receive payments from persons or entities offering
illegal gambling services, including (but not limited to) illegal sports betting, casino games and poker games.
We may suspend or terminate your Smartpay Account at any time or refuse to execute or reverse a transaction
if we believe that you directly or indirectly use or have used your Smartpay Account for or in connection with
illegal gambling transactions. Countries where online gambling is illegal include the United States of America,
Turkey, China, Malaysia and Israel. This list is not exhaustive and it is your responsibility to ensure that you do
not use our services for transactions that may be considered illegal in your jurisdiction.
11.3. It is strictly forbidden to use your Smartpay Account for any illegal purposes including but not limited to
fraud and money laundering. We will report any suspicious activity to the relevant law enforcement agency.
You are prohibited from using your Smartpay Account in an attempt to abuse, exploit or circumvent the usage
restrictions imposed by a merchant on the services it provides.
11.4. You may only accept payments for certain categories of business after approval from us in our sole
discretion. Such business categories include but are not limited to:
- money exchange or remittance businesses, including but not limited to bureaux de change, currency
exchanges and purchase of travel money;
- the collection of any form of donations or payments to charitable or not-for-profit organisations;
- dealing in natural resources such as jewels, precious metals or stones;
- live streaming
- the sale or supply of alcoholic beverages;
- the sale or supply of dietary supplements and alternative health products;
- any other business category published in an acceptable use policy on the Website from time to time.
In case you are in doubt whether your business falls under any of the above categories, you must contact
Customer Service. We reserve the right in our sole discretion, to add business categories requiring approval by
adding such categories either to these Terms of Use or an acceptable use policy published on the Website.
11.5. If you conduct or attempt to conduct any transaction in violation of the prohibitions contained in this
section 11 or without the necessary approval under section 11.4, we reserve the right to:
- reverse the transaction; and/or
- close or suspend your Smartpay Account; and/or
- report the transaction to the relevant law enforcement agency; and/or
- claim damages from you; and
- charge you an administration fee of up to GHS500 in case we apply any of the above.
11.6. It is your and not our responsibility to ensure that you only send payments to or receive payments from
persons or entities for the sale or supply of goods and services that you may provide or receive in compliance
with any applicable laws and regulations. The mere fact that a person or entity accepts payments through us is
not an indication of the legality of the supply or provision of their goods and services. If you are in doubt as to
the legality of a supply or purchase, you should not continue with your payment.
Withdrawing Funds
12.1. You can request a withdrawal of all or part of the funds held in your Smartpay Account at any time. To do
this you must log into your Smartpay Account and select a withdrawal method and enter the amount to be
withdrawn. Withdrawal methods are payment services provided, at least in part, by third party financial
institutions (for example, the bank where you hold a bank account). We do not guarantee the availability of
any particular withdrawal method and may make changes to or discontinue a particular withdrawal method at
any time without following the procedure set out in section 18 as long as there is at least one withdrawal
method available to you. Where the withdrawal payment is received by you through the involvement of a
payment service provider (such as the bank where you hold a bank account), we shall not be responsible for
the withdrawal payment once the withdrawn funds are received by your payment service provider.
12.2. Your Smartpay Account is subject to withdrawal limits. These limits are adjusted dynamically depending
on the type of identification documentation (KYC Level) we hold on you. Before Adding Funds into your
Smartpay Account, you must ensure that your current withdrawal and spending limits meet your withdrawal
and spending requirements as we legally cannot allow you to exceed these limits.
12.3. If your withdrawal request exceeds the current limit, we may decline your request and instead require
you to send us documents verifying your identity and address prior to allowing a withdrawal of funds or to
otherwise cooperate with us to verify your identity.
12.4. Withdrawals are subject to withdrawal fees and currency conversion fees depending on which
withdrawal method and payment instrument is chosen. Please see section 13 for details.
12.5. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.
12.6. You must not make a withdrawal to a bank account or other payment instrument if you are not the
named holder. We take any violation of this requirement very seriously and will treat any attempt to use a
payment instrument of which you are not the named holder as a fraudulent act. Without prejudice to claiming
further damages, if we are required to investigate a withdrawal to a payment instrument that is not in your
name, we may charge an administration fee.
12.7. You must ensure that the payment details you enter when withdrawing funds are correct and complete.
We will not be liable for withdrawn funds being sent to the wrong payment instrument where this is due to
you providing incorrect payment details. When withdrawing to a bank account, you must ensure that the
account number, sort code, IBAN and/or BIC/SWIFT are correct. If you have withdrawn funds to the wrong
payment instrument, you may request that we assist you in reclaiming the funds, however, we will charge you
an administration fee for doing so and we cannot guarantee that the reclaim efforts will be successful.
Fees
13.1. Fees depend on whether you are using your Smartpay Account for personal or commercial purposes.
13.2. Transaction related charges can be viewed at any time in the "Fees" section of our Website. Additional
fees apply to Smartpay Accounts used for commercial purposes in accordance with the applicable terms and
conditions referred to in section 4.7 above. You should print or download and keep a copy of the "Fees"
section together with a copy of these Terms of Use. For clarity, the "Fees" section forms part of these Terms of
Use. Fees are subject to change in accordance with section 18. Under certain circumstances we may charge
additional fees as set out in sections 8.3, 8.9, 11.6, 12.6 and 12.7.
13.3. Your transactions may be subject to currency conversions. If you make a payment from your Smartpay
Account denominated in one currency to a Smartpay Account denominated in another currency, you will be
asked to either make the payment in the currency of your Smartpay Account or in another currency. If you
choose the currency of your Smartpay Account, then the recipient will pay the fee for the conversion into the
currency of his or her Smartpay Account. If you choose the currency of the recipient’s Smartpay Account, you will pay the fee for the currency conversion into the currency of the payment. If you choose a currency that is
neither the currency of your Smartpay Account nor the currency of the recipient’s Smartpay Account then you
will pay the fee for the conversion into the currency of the payment, and the recipient will pay the fee for the
conversion of the payment currency into the currency of his or her Smartpay Account.
13.4. For every currency conversion, we will apply our then current wholesale exchange rates which are
available online in the Currency Conversion Fees section of the "Fees" page and which are updated on a
regular basis throughout the day. Changes in these exchange rates may be applied immediately and without
notice. In addition we will apply a foreign exchange fee, which is also displayed in the "Fees" section of the
Website and which is expressed as a percentage applicable in addition to the transaction fee.
13.5. Our Fees are either expressed as a percentage of the transaction or as a fixed amount in Ghana Cedis
(GHS). Where fixed fee amounts are displayed in a currency other than GHS, this is for information purposes
only. If fees are deducted from a balance or a transaction denominated in a different currency, the GHS fee
amount will be converted into an equivalent fee in that other currency based on the Smartpay wholesale
exchange rates applicable at the time and available under the "Currency Conversion Fees" section of the
"Fees" section and then deducted. We will not apply a foreign exchange fee on currency conversions of fees.
13.6. Fees payable by you will be deducted from your Smartpay Account balance and you hereby authorise us
to do the same. Transaction fees will be charged when the transaction is executed. If your Smartpay Account
balance is insufficient to cover the fees, we may refuse to execute the payment. Reversal or chargeback fees
will be deducted when incurred.
13.7. If the deduction of fees results in a negative Smartpay Account balance, you will be required to repay
such negative balance by Adding sufficient funds into your Smartpay Account. Failure to do so is a breach of
these Terms of Use. Repayment of the negative balance is due immediately without notice, however, we
reserve the right at any time to send you reminders that you need to upload funds or to take other debt
collection measures including but not limited to instructing a debt collection agency or solicitors or to pursue
the claim in court. We reserve the right to charge you expenses we have reasonably incurred in connection
with any debt collection or enforcement efforts.
Your Data
14.1. The processing of your data is governed by our Privacy Policy which can be found on our Website. By
accepting these Terms of Use, you also agree to the terms of our Privacy Policy, Anti-Money Laundering Policy
and every other policy we display on our website. You should print and keep a copy of the Privacy Policy
together with these Terms of Use.
14.2. As a default, you will receive e-mail newsletters that will inform you about new product features, events,
promotions, special deals etc. By accepting these Terms of Use, you agree to receive such e-mail newsletters
on a regular basis. If you do not wish to receive any newsletters from us, you can opt out at any time by
logging into your Smartpay Account and changing the appropriate setting in your Smartpay Account Notification
Settings. You can also opt out of receiving newsletters by contacting Customer Service. Any e-mail newsletter
you receive will also give you the option to unsubscribe from any future newsletter. You however will not be
able to opt out of system, transaction or account critical email notifications from Smartpay.
Liability
15.1. In case of an unauthorised payment or a payment that was incorrectly executed due to an error by us,
we shall at your request immediately refund the payment amount including all fees deducted therefrom. This
shall not apply:
15.1.1. where the unauthorised payment arises from your failure to keep the personalised security features of
your Smartpay Account safe in accordance with section 6 in which case you shall remain liable for the first
GHS20 (or equivalent in the currency of your Smartpay Account) unless section 16.1.3 applies;
15.1.2. if you fail to notify us without undue delay of any loss of your password or other event that could
reasonably be expected to have compromised the security of your Smartpay Account after you have gained
knowledge of such event in which case you shall remain liable for losses incurred up to your notification to us;
15.1.3. if the transaction was unauthorised but you have compromised the security of your Smartpay Account
with intent or gross negligence in which case you shall be solely liable for all losses; or
15.1.4. If you fail to dispute and bring the unauthorised or incorrectly executed transaction to our attention
within 2 weeks from the date of the transaction.
15.2. Section 16.1.1 shall not apply to transactions made after you have notified us in accordance with section
15.3. Without prejudice to the foregoing, you are asked to check the transactions history of your Smartpay
Account regularly and frequently and to contact Customer Service immediately in case you have any questions
or concerns.
15.4. In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you
with tracing and recovering such payments.
15.5. Subject to the foregoing, we shall not be liable for any disruption or impairment of our service or for
disruptions or impairments of intermediary services on which we rely for the performance of our obligations
hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances
beyond our reasonable control or the control of the intermediary affected.
15.6. We shall not be liable for any indirect or consequential losses including but not limited to loss of profit,
loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with
legal and regulatory requirements.
15.7. Nothing in these Terms of Use shall operate to exclude liability for death or personal injury due to
negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded
or amended by agreement between the parties.
15.8. Our obligation under these Terms of Use is limited to providing you with an electronic money account
and related payment services and does not make any statement in relation to or endorsement of the quality,
safety or legality of any goods or services provided by a Smartpay customer, merchant or intermediary.
15.9. We shall not be liable for the assessment or payment of any taxes, duties or other charges that arise
from the underlying commercial transaction between you and another Smartpay customer.
15.10. Indemnification/re-imbursement. You agree to defend, reimburse or compensate us and hold us and
our other companies in our corporate group harmless from any claim, demand, expenses or costs (including
legal fees, fines or penalties) that we incur or suffer due to or arising out of your or your agents' breach of
these Terms of Use, breach of any applicable law or regulation and/or use of the services. This provision shall
survive termination of the relationship between you and us.
Termination and suspension
16.1. We may terminate your Smartpay Account or any payment service associated with it by giving you two
weeks’ prior notice. You may terminate your Smartpay Account with us at any time. Different termination
provisions may apply if you use your Smartpay Account for commercial purposes as set out in section 4.7
above.
16.2. Together with a termination notice or at any time thereafter we may give you reasonable instructions on
how to withdraw remaining funds.
16.3. If your Smartpay Account is subject to a reserve, termination of your Smartpay Account will not affect our
right to hold the reserve and to make deductions therefrom for the time agreed.
16.4. We may at any time suspend or terminate your Smartpay Account without notice in case:
16.4.1. You breach any condition of these Terms of Use or any other condition applicable to specific services
covered by separate terms and conditions;
16.4.2. You violate or we have reason to believe that you are in violation of any law or regulation that is
applicable to your use of our services; or
16.4.3. We have reason to believe that you are in any way involved in any fraudulent activity, money
laundering, terrorism financing or other criminal activity.
16.5. We may suspend your Smartpay Account at any time if:
16.5.1. We reasonably believe that your Smartpay Account has been compromised or for other security
reasons; or
16.5.2. We reasonably suspect your Smartpay Account to have been used or is being used without your
authorisation or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is
not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify
you.
Changes to these Terms of Use
17.1. These Terms of Use and any additional terms and conditions that may apply are subject to change.
Changes will be implemented with prior notice from us under the procedure set forth in this section.
17.2. We shall give notice to you of any proposed change by sending an e-mail to the primary e-mail address
registered with your Smartpay Account.
17.3. The proposed change shall come into effect one (1) week after the date of the change notice, unless you
have given us notice that you object to the proposed changes before the changes come into effect. Changes
that make these Terms of Use more favourable to you shall come into effect immediately if so stated in the
change notice. Changes to exchange rates shall come into effect immediately without notice and you shall not
have the right to object to such a change.
17.4. If you object to the changes, they will not apply to you, however, any such objection shall constitute a
notice by you to terminate and close your Smartpay Account. Your Smartpay Account will be closed in
accordance with the provisions of section 7 above.
How We Communicate
18.1. We usually communicate to you via e-mail. For this purpose you must at all times maintain at least one
valid e-mail address in your Smartpay Account profile. You are required to check for incoming messages
regularly and frequently. E-mails may contain links to further communication on our Website. Any
communication or notice sent by e-mail will be deemed received by you on the same day if it is received in
your e-mail inbox before 5.30 pm on a Business Day. If it is received in your email inbox after 5:30pm on a
Business Day or at any other time, it will be deemed received on the next Business Day.
18.2. Where legislation requires us to provide information to you on a durable medium, we will either send
you an e-mail (with or without attachment) or send you a notification pointing you to information on our
Website in a way that enables you to retain the information in print format or other format that can be
retained by you permanently for future reference. You are required to keep copies of all communications we
send or make available to you.
18.3. You can request a copy of the current Terms of Use or any other contractual document relevant to you
by contacting Customer Service or visiting the website.
18.4. In order to view emails you need a computer with e-mail software that can display e-mails in HTML
format. We may also send you attachments in Adobe Systems Inc.’s Portable Document Format (PDF), for
which you need Adobe’s Acrobat Reader, which can be downloaded for free at www.adobe.com.
18.5. We will never send you any e-mails with executable files attached or with links to any executable files. If
you receive any e-mail with such attachments, you should delete the message without clicking on the
attachment. If you are unsure whether a communication is originating from us, please contact Customer
Service.
18.6. We will communicate to you in English and will always accept communications made to us in English. For
non-standard communication, we reserve the right to communicate with you in English. Documents or
communications in any other languages are for convenience only and shall not constitute an obligation on us
to conduct any further communication in that language.
18.7. Apart from communicating via e-mail, we may contact you via letter or telephone, where appropriate. If
you use any mobile services, we may communicate with you via SMS. Any communication or notice sent by
post will be deemed received ten days from the date of posting for Ghana post or within 14 days of posting for
international post. Any communication or notice sent by SMS will be deemed received the same day.
18.8. You may contact us at any time by sending a message to Customer Service via the “E-Mail Support”
facility on our Website.
Complaints
19.1. Any complaints about us or the services we provide should be addressed to us in the first instance by
contacting Customer Service. You should clearly indicate that you are wishing to make a complaint to us. This
helps us to distinguish a complaint from a mere query. We send you a complaint acknowledgement by post or
by e-mail within 48 hours of receiving your complaint in accordance with our complaints procedure.
19.2. We endeavour to provide you with an answer or resolution to your complaint within reasonable
timeframes. Should this not be possible due to unforeseen circumstances or lack of information, we will
contact you.
Miscellaneous
20.1. No person other than you shall have any rights under these Terms of Use and the provisions of the
Payment Systems Act 2003.
20.2. Your Smartpay Account is personal to you and you may not assign any rights under the Terms of Use to
any third party.
20.3. Your Smartpay Account is operated in Ghana and these Terms of Use shall be governed by and
interpreted in accordance with the laws of Ghana. Any dispute under these Terms of Use or otherwise in
connection with your Smartpay Account shall be brought exclusively in the courts of Ghana except where
prohibited by Ghana law.
20.4. If any part of these Terms of Use is found by a court of competent jurisdiction to be invalid, unlawful or
unenforceable then such part shall be severed from the remainder of the Terms of Use, which shall continue
to be valid and enforceable to the fullest extent permitted by law.
Definitions
Various terms in these Terms of Use have a defined meaning as follows:
“Business Day” means any day other than a Saturday or a Sunday or a public or bank holiday in Ghana;
“Customer Service” means our customer service, which you can reach by sending a message through the
“Contact Us” or email facility on the Website.
“Fees” shall mean the charges payable by you to us for using our services;
“Privacy Policy” is the Smartpay’s policy governing the processing of personal data which is available on the
Website, as may be amended from time to time;
“ Smartpay Account” shall mean the electronic money account you open and maintain thr ough the Smartpay
Website and Mobile App;
“Terms of Use”, shall mean these Smartpay Account Terms of Use, published on the Website and as may be
amended from time;
“We”, “us”, “our” shall mea Smartpay;
“You”, “your” shall mean you, the natural person or legal entity in whose name the Smartpay Account is
opened and maintained;
