ZENDA AFRICA USER SERVICE AGREEMENT
Version: 1.1 Last Revised: January 2026
1. THE SCOPE OF AGREEMENT
This Agreement constitutes a legally binding contract between Zenda Africa Technology Ltd ("Zenda," "we," "us") and the User ("you"). This agreement governs the opening, use, and closure of your Zenda Wallet and all associated services including, but not limited to, Peer-to-Peer (P2P) email transfers, Virtual Account funding, and International Remittance.
2. REGULATORY COMPLIANCE & KYC (KNOW YOUR CUSTOMER)
2.1 Verification: In accordance with the Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) regulations, your access to certain transaction limits is tiered based on the level of identity verification provided (Tier 1, 2, or 3). 2.2 Data Validation: You authorize Zenda to make any inquiries we consider necessary to validate your identity. This may include requesting a Bank Verification Number (BVN), National Identification Number (NIN), and biometric verification via third-party databases. 2.3 Ongoing Monitoring: We perform continuous PEP (Politically Exposed Persons) and Sanctions list screening.
3. THE ZENDA WALLET & FUNDING
3.1 Nature of Funds: Funds held in your Zenda Wallet do not expire and do not earn interest. They are "Electronic Money" and are held in segregated trust accounts at our partner commercial banks. 3.2 Virtual Account Numbers: Zenda provides unique virtual account numbers solely for the purpose of wallet funding. These are not full-service checking accounts and cannot be used for direct clearing of checks or other banking activities. 3.3 Error in Funding: If your wallet is credited in error, Zenda reserves the right to debit your wallet to rectify the error without prior notice.
4. VIRTUAL CARD SERVICES (USD)
4.1 Issuance: Virtual cards are issued by third-party partner banks. You are a "Cardholder," not the owner of the card. 4.2 Authorization: Every time you use your USD Virtual Card, you authorize Zenda to deduct the transaction amount plus any applicable foreign exchange (FX) spreads and processing fees. 4.3 Pre-Authorization Holds: Certain merchants (hotels, car rentals) may place a temporary hold on your card. Zenda is not responsible for the duration of these holds. 4.4 Global Usage: You agree not to use the card for transactions involving sanctioned territories or prohibited merchant categories (e.g., crypto-assets, gambling, or illegal pharmaceuticals).
5. P2P TRANSFERS VIA EMAIL
5.1 Delivery: When you initiate a P2P transfer via an email address, the recipient is notified. If the recipient does not claim the funds within [72 hours], the transaction is cancelled and funds are returned to your wallet. 5.2 Finality: Once a recipient with a Zenda account accepts a transfer, the transaction is final and irrevocable.
6. CROSS-BORDER & FX TRANSACTIONS
6.1 Exchange Rates: FX rates provided by Zenda are proprietary and may differ from rates published by central banks or Google. Rates are updated in real-time. 6.2 Intermediary Bank Fees: For international bank transfers, you acknowledge that intermediary banks may deduct fees from the principal amount before it reaches the destination account.
7. CHARGEBACKS & REVERSALS
7.1 User Liability: You are responsible for all reversed transactions, regardless of the reason. 7.2 Indemnification: If a chargeback is filed on a transaction you funded via a linked debit card, you agree to indemnify Zenda for the full amount plus any administrative costs.
8. SAFEGUARDING & FRAUD
8.1 Notification: You must notify Zenda immediately at support@zendaafrica.com if you suspect your account has been compromised. 8.2 Restricted Activities: You shall not use the service to facilitate "Splitting" (breaking a large transaction into smaller ones to avoid reporting thresholds) or "Layering."
9. LIMITATION OF LIABILITY & DISCLAIMER
9.1 Force Majeure: Zenda shall not be liable for delays caused by government actions, telecommunication failures, or "Acts of God." 9.2 Indirect Loss: To the maximum extent permitted by law, Zenda is not liable for loss of profit, loss of business, or any indirect or consequential damages.
10. DISPUTE RESOLUTION
10.1 Mutual Negotiation: Parties shall first attempt to resolve disputes through informal negotiation within 30 days. 10.2 Arbitration: Any unresolved dispute shall be referred to and finally resolved by arbitration under the Lagos Court of Arbitration.