Terms of Service

Table of Contents

Effective Date: 19 June 2025

1. Introduction

Welcome to Transacta, a cross-border payment platform operated by Transacta Jefes Limited (“Transacta,” “we,” “us,” or “our”), a company incorporated under the laws of the Federal Republic of Nigeria with registration number RC 8560517 and registered office at 9, Karimu St, Lagos State, Nigeria. These Terms of Service (“ToS” or “Agreement”) govern your access to and use of our platform, website, mobile application, and related services (collectively, the “Platform”).

By registering an account, accessing, or using the Platform, you (“User,” “you,” or “your”) agree to be bound by this ToS, our Privacy Policy, and all applicable laws and regulations. If you do not agree to these terms, you must not use the Platform. This Agreement constitutes a legally binding contract between you and Transacta.

2. Definitions

For clarity, the following terms have specific meanings in this ToS:

  • Platform: Transacta’s website, web application, and associated systems for facilitating cross-border payments and related services.
  • User or Customer: Any individual or entity registered to use the Platform.
  • Services: Features provided by the Platform, including fiat currency deposits, cross-border supplier payments, and transaction tracking.
  • Supplier or Recipient: A third party designated by the User to receive payments via the Platform.
  • Transaction: Any deposit, transfer, or payment processed through the Platform.
  • Fiat: Government-issued currencies (e.g., Nigerian Naira (NGN), Ghanaian Cedi (GHS), US Dollar (USD)).
  • KYC/AML: Know Your Customer and Anti-Money Laundering procedures required to verify User identity and ensure compliance with financial crime regulations.
  • Third-Party Providers: External entities (e.g., banks, payment processors, KYC vendors) that support Platform operations.

3. Eligibility

To use the Platform, you must:

  • Be at least 18 years old and have the legal capacity to enter into contracts under applicable law.
  • Reside in a supported jurisdiction, including Nigeria, Ghana, or other countries listed on our website.
  • Not be located in, or a resident of, any jurisdiction subject to comprehensive sanctions (e.g., as designated by the United Nations, United States Office of Foreign Assets Control (OFAC), or Nigeria’s Financial Intelligence Unit (NFIU)).

Transacta reserves the right to restrict access to the Platform based on jurisdictional or regulatory requirements.

4. User Registration & KYC

4.1 Registration: To access the Platform, you must create an account by providing accurate, complete, and current information, including your full name, contact details, and other data as requested. You are responsible for maintaining the accuracy of your account information and promptly updating any changes.

4.2 KYC Verification: Before using the Services, you must complete our KYC process, which includes submitting:

  • A valid government-issued ID (Nigerian National Identification Number (NIN), passport, Ghana Card).
  • Proof of address (utility bill not older than three months).
  • Biometric validation (selfie or facial recognition).

We may use Third-Party Providers to verify your identity against government databases or global watchlists.

4.3 Account Approval: Transacta may approve, reject, or suspend your account at its sole discretion, including for incomplete KYC, suspected fraud, or regulatory concerns. You will be notified of any account decisions via email.

4.4 Account Security: You are responsible for safeguarding your account credentials (e.g., username, password). You must notify us immediately at contact@transacta.to if you suspect unauthorized access. Transacta is not liable for losses resulting from your failure to secure your account.

5. Use of the Platform

5.1 Permitted Use: The Platform enables you to:

  • Deposit fiat currency.
  • Make cross-border payments to Suppliers in supported currencies.
  • Track Transaction status and history.

5.2 Prohibited Activities: You agree not to use the Platform for:

  • Illegal activities, including money laundering, terrorist financing, fraud, or corruption, as prohibited under Nigeria’s Money Laundering (Prevention and Prohibition) Act 2022 and international laws.
  • Transactions involving prohibited goods or services (e.g., drugs, weapons, pyramid schemes).
  • Attempting to bypass KYC/AML checks or using false information.
  • Hacking, reverse-engineering, or disrupting the Platform’s operations.
  • Transactions in jurisdictions or with individuals subject to sanctions.

5.3 Compliance: You must comply with all applicable local and international laws, including tax reporting obligations. Transacta cooperates with regulatory authorities and may disclose User information as required by law.

8. Refunds and Disputes

8.1 No Refunds: Once a Supplier payment is confirmed and funds are transferred, Transactions are final and non-refundable, except where required by law or at Transacta’s discretion.

8.2 Dispute Resolution: If you have a concern about a Transaction, contact us at contact@transacta.to or via our in-app support chat within 14 days of the Transaction. We will investigate and respond within 5 business days.

8.3 Chargebacks: You may not initiate chargebacks or reversals through your bank or payment provider without first contacting Transacta. Unauthorized chargebacks may result in account suspension and liability for associated costs.

8.4 Limitations: Transacta is not responsible for resolving disputes between you and Suppliers. Our role is limited to facilitating the Transaction based on your instructions.

9. Account Suspension & Termination

9.1 Suspension or Termination by Transacta: We may suspend or terminate your account, with or without notice, if:

  • You breach this ToS or engage in Prohibited Activities.
  • You fail to complete KYC or provide accurate information.
  • We suspect fraud, money laundering, or other regulatory concerns.
  • We are required to do so by law or regulatory authorities.
  • Your account is inactive for 12 months.

9.2 User Termination: You may close your account at any time by contacting contact@transacta.to. You must withdraw any remaining funds before closure, subject to applicable fees and compliance checks.

9.3 Remaining Funds: Upon termination, we will return any available funds to your linked bank account within 30 days, minus outstanding fees, provided no regulatory restrictions apply.

9.4 Effect of Termination: Suspended or terminated accounts cannot access the Platform. Transacta may report terminated accounts to authorities if required by law.

10. Data Protection & Privacy

10.1 Privacy Policy: Your personal data is handled per our Privacy Policy (#), which is incorporated into this ToS. We are committed to protecting your data in compliance with the Nigeria Data Protection Act 2023 and international standards (e.g., GDPR principles).

10.2 Data Sharing: We may share your information with:

  • Third-Party Providers for KYC/AML verification, payment processing, or fraud prevention.
  • Regulatory authorities as required by law.
  • Law enforcement in response to legal requests.

10.3 Data Retention: We retain your data for according to our Privacy Policy (#).

11. Intellectual Property

11.1 Ownership: Transacta owns all intellectual property rights in the Platform, including its brand, logos, software, code, and content. All content is protected by copyright and trademark laws in Nigeria and internationally.

11.2 Limited License: We grant you a non-exclusive, revocable license to use the Platform for personal or authorized business purposes, subject to this ToS. You may not copy, modify, distribute, or create derivative works from the Platform.

11.3 User Content: Any feedback or suggestions you provide to us about the Platform may be used to improve our Services without compensation or attribution to you.

12. Limitation of Liability

12.1 No Liability for: Transacta, its affiliates, officers, employees, or Third-Party Providers will not be liable for:

  • Delays or failures by Third-Party Providers
  • Errors in Supplier details or instructions provided by you.
  • Losses from unauthorized account access due to your failure to secure credentials.
  • Interruptions to Platform availability due to maintenance or unforeseen events.

12.2 Liability Cap: Our maximum liability to you for any claim arising from the Services is limited to the total fees paid by you for the most recent Transaction.

12.3 Indirect Losses: We are not liable for indirect, consequential, or incidental damages, including loss of profits, data, or business opportunities, even if advised of such possibilities.

12.4 Force Majeure: Transacta is not liable for delays or failures due to events beyond our control (e.g., natural disasters, government actions, cyberattacks).

13. Indemnification

You agree to indemnify, defend, and hold harmless Transacta, its affiliates, officers, directors, employees, and Third-Party Providers from any third-party claims, losses, or damages arising from:

  • Your breach of this ToS.
  • Your violation of applicable laws or regulations.
  • Your fraudulent, negligent, or illegal use of the Platform.
  • Disputes between you and Suppliers or other third parties.

14. Governing Law & Dispute Resolution

14.1 Governing Law: This ToS is governed by the laws of the Federal Republic of Nigeria, without regard to its conflict of law principles. For international Users, Nigerian law applies to the extent permitted by local regulations, supplemented by international conventions (e.g., UNCITRAL Model Law on Electronic Commerce).

14.2 Jurisdiction: Any disputes arising from this ToS or your use of the Platform shall be resolved exclusively in the courts of Lagos State, Nigeria, unless otherwise required by applicable law in your jurisdiction.

14.3 Alternative Dispute Resolution: At Transacta’s discretion, disputes may be submitted to mediation or arbitration in Lagos, Nigeria, under the rules of the Lagos Court of Arbitration. Arbitration decisions are final and binding. Each party will bear its own costs unless otherwise determined by the arbitrator.

14.4 Informal Resolution: Before pursuing formal legal action, you agree to attempt to resolve disputes informally by contacting contact@transacta.to.

15. Amendments

15.1 Updates: Transacta may modify this ToS at any time to reflect changes in our Services, legal requirements, or business practices. Updated terms will be posted on our website and, where required by law, notified via email at least 14 days before taking effect.

15.2 Acceptance: Your continued use of the Platform after changes constitutes acceptance of the updated ToS. If you do not agree, you must stop using the Platform and close your account.

16. Contact Information

For questions, complaints, or support regarding this ToS or the Platform, contact us at:

We aim to respond to inquiries within 48 hours.

17. Miscellaneous

17.1 Entire Agreement: This ToS, together with the Privacy Policy (#), constitutes the entire agreement with you, superseding any prior agreements.

17.2 Severability: If any provision of this ToS is found unenforceable, the remaining provisions will continue to be effective in full force.

17.3 No Waiver: Our failure to enforce any right or provision of this ToS does not waive that right or provision.

17.4 Assignment: Transacta may assign its rights and obligations under this ToS to a third party (e.g., in case of a business merger or acquisition). You may not be assigned without our consent.

17.5 Electronic Communications: All notices and communications and notices will be sent electronically via email or the Platform, as permitted under Nigeria’s Electronic Transactions Act.