Terms of Service

Payeena is a transaction facilitation platform designed to help buyers and sellers complete transactions with greater confidence.

Payeena provides tools for creating and agreeing transaction terms, coordinating payment and delivery workflows, managing confirmation periods, facilitating disputes, coordinating applicable refunds, and coordinating seller payouts.

Payeena is not a bank, financial institution, or licensed escrow provider. Payeena provides transaction facilitation and payment-protection workflows, while payments and related financial transactions are handled through third-party payment providers.

Payeena acts as a transaction coordination and facilitation platform. Payeena does not directly hold user funds, operate a custodial wallet, independently process payment transactions, or act as a money transmitter.

Payments are processed through third-party payment service providers integrated with Payeena. Such providers may be responsible for payment processing, payment authorization, settlement, refunds, transfers, and other financial processing activities.

Payeena's role is to coordinate the transaction workflow and apply its platform rules to the transaction information and evidence available to it.

To use Payeena, you must be at least 18 years old, provide a valid email address, provide the identity information requested by Payeena, and complete any required identity verification.

You must provide accurate and complete information and must not use another person's identity or account.

Payeena may refuse, restrict, suspend, or terminate access where identity verification cannot be completed, suspicious or prohibited activity is detected, or access is otherwise restricted under these Terms or applicable law.

You agree to provide accurate, current, and complete information when creating and maintaining your Payeena account.

Users must complete the required identity verification during registration, including National Identification Number (NIN) verification and facial identity verification. Users cannot sign in to or use their Payeena accounts until the required identity verification has been completed successfully.

As part of verification, Payeena may process and store information such as your full name, date of birth, and a securely protected representation of your NIN for identity verification, fraud prevention, account security, and compliance purposes.

You must not create multiple accounts using the same identity or create an account using another person's identity.

You are responsible for maintaining the confidentiality of your account credentials and for activity carried out through your account, except where the activity results from Payeena's failure to apply reasonable security measures.

Transactions on Payeena follow a structured process. The specific requirements applicable to a transaction may depend on whether the transaction involves a physical product, digital product, service, milestone, or another supported transaction type.

5.1 Deal Creation: The person creating a deal is responsible for specifying the transaction terms, including the product or service, amount, delivery or completion requirements, applicable deadline, and other relevant conditions.

5.2 Agreement: The other party must review and accept the proposed transaction terms before the transaction can proceed to payment.

5.3 Binding Terms: Once both parties have accepted the transaction terms, those terms become binding for the transaction. The transaction terms cannot ordinarily be changed after both parties have agreed. Where a material change is required, the parties may need to cancel or otherwise resolve the existing transaction and create a new transaction.

5.4 Payment: The buyer must complete payment within 72 hours after the counterparty joins and accepts the transaction. Payment is considered received only after Payeena receives and verifies the applicable payment confirmation from its payment provider. Where a deal requires high-value approval, payment cannot proceed until that approval has been granted.

5.5 Failed Payment: A failed, declined, or incomplete payment does not fund the transaction. The buyer may retry payment while the payment period remains open. The seller should not deliver until Payeena confirms that the transaction has been funded.

5.6 Payment Expiry: If the required payment is not successfully completed within 72 hours, the transaction may expire or be cancelled in accordance with Payeena's transaction rules.

5.7 Delivery or Completion: After confirmed payment, the seller or service provider must provide the agreed product or service within the agreed delivery or completion deadline and must provide relevant evidence where required.

5.8 Buyer Confirmation: After the seller marks the transaction as delivered or completed, the buyer may confirm the transaction or raise a dispute during the applicable confirmation window.

5.9 Completion: A transaction is completed when the buyer confirms delivery or completion, or when the applicable confirmation window expires without a dispute being raised.

5.10 Seller Payout: Once a transaction is completed and the seller is eligible for payout, Payeena may initiate the seller payout through the applicable payment provider. Seller payouts are normally sent to the seller's verified bank account.

5.11 Completed Transactions: Once a transaction has been completed, the normal Payeena cancellation, dispute, and refund workflow is closed for that transaction.

5.12 Transaction Limits: Payeena supports transactions from ₦10,000 up to a maximum of ₦10,000,000. Transactions below the minimum or above the maximum cannot proceed.

5.13 High-Value Transaction Review: Transactions above ₦5,000,000 and up to ₦10,000,000 require internal review and approval by Payeena before the buyer can proceed with payment. Payeena may request additional transaction information or supporting evidence during this review. Approval is not guaranteed.

Transaction deadlines are important parts of the agreed transaction terms. Both parties are expected to comply with the applicable delivery, completion, payment, and confirmation deadlines.

6.1 Payment Deadline: The buyer must successfully complete payment within 72 hours after the transaction becomes available for payment unless the transaction is otherwise cancelled or expires earlier.

6.2 Physical Products: The buyer has 42 hours after the seller marks the product as delivered to confirm receipt or raise a dispute.

6.3 Digital Products: The buyer has 24 hours after the seller marks the digital product as delivered to confirm receipt or raise a dispute.

6.4 Services: The buyer has 24 hours after the service is marked as completed to confirm completion or raise a dispute.

6.5 The applicable confirmation window is determined by the transaction type and is not freely selected by either party.

6.6 If the buyer confirms delivery or completion, the transaction is completed and the seller becomes eligible for payout subject to Payeena's applicable processing rules.

6.7 If the buyer does not confirm delivery or raise a dispute before the applicable confirmation window expires, the transaction may automatically be marked as completed and the seller may become eligible for payout.

Cancellation rights depend on the stage of the transaction.

7.1 Before Payment: A buyer may cancel a transaction before payment is completed, subject to the transaction status and applicable platform rules.

7.2 After Payment: After payment has been completed, the buyer cannot simply cancel the transaction through the normal cancellation workflow. The buyer may contact the seller to request cancellation or raise a dispute where the circumstances qualify under Payeena's dispute and refund rules.

7.3 Seller Cancellation: A seller may cancel a transaction before delivery or completion. Where the seller cancels before payment, the transaction is cancelled without a refund. Where the seller cancels after successful funding but before delivery, Payeena automatically initiates the buyer's eligible refund using the applicable refund calculation, without requiring additional approval. Automatic refunds remain subject to payment verification, available funds, and any applicable dispute, chargeback, or security hold.

7.4 Buyer-Caused Failure: Where a transaction cannot be completed because of the buyer's actions or failure to provide required information, cooperate, accept a valid delivery, or otherwise comply with the agreed terms, the refund outcome may depend on the circumstances and applicable refund rules.

7.5 Completed Transactions: Completed transactions cannot ordinarily be cancelled through Payeena.

A buyer may raise a dispute while a transaction is active and before the applicable confirmation window expires. A dispute must be raised before the buyer confirms delivery or completion.

8.1 When a dispute is raised, Payeena may place the transaction on hold and prevent the seller's payout from being processed until the dispute is resolved.

8.2 Both parties may be required to provide relevant evidence, including messages, photographs, screenshots, delivery records, tracking information, receipts, files, service records, or other information relevant to the transaction.

8.3 Payeena reviews the available evidence against the agreed transaction terms and applicable Payeena policies.

8.4 Possible outcomes include a full refund, partial refund, release of the seller's eligible payout, or another resolution permitted under Payeena's applicable rules.

8.5 Payeena may request information from either party and may set case-specific deadlines for responses or evidence. There is no guaranteed fixed dispute-resolution timeframe.

8.6 If either party fails to respond within a deadline provided by Payeena, Payeena may make a determination using the evidence and information available at the time.

8.7 A dispute decision made through Payeena's internal dispute process is final within the platform, subject to any rights available to the parties under applicable law.

8.8 Payeena does not guarantee a particular outcome for either party.

A buyer may be eligible for a full or partial refund where the circumstances satisfy Payeena's applicable refund rules.

9.1 Circumstances that may support a refund include seller non-delivery, seller cancellation, an item being materially different from the agreed transaction, receipt of a damaged or incorrect item, failure to deliver an agreed digital product, failure to complete an agreed service, mutual cancellation, or another valid circumstance determined under Payeena's policies.

9.2 Refunds may not equal the full amount originally paid. The amount refunded depends on the circumstances of the transaction, the stage at which the refund occurs, and Payeena's applicable refund rules and disclosed charges.

9.3 Refund Calculation: Where a payment was collected but funding could not be completed, the buyer receives the total amount paid less the applicable non-refundable payment gateway fee and an additional ₦200 charge. Where a transaction has been successfully funded and subsequently qualifies for cancellation or a full refund, the buyer receives the total amount paid less the applicable non-refundable gateway fee and a ₦500 charge. For partial refunds arising from disputes, the refundable amount is determined by Payeena based on the circumstances and available evidence. Payeena retains its applicable service fee on partial refunds. All refunds are subject to the applicable transaction status, eligibility requirements, and payment-processing conditions.

9.4 Where a physical item must be returned as part of a refund resolution, the buyer may be required to return the item before the refund is processed.

9.5 Where the seller is responsible for the return, the seller may be responsible for the applicable return delivery cost in accordance with Payeena's return procedures.

9.6 Where the buyer is responsible for the return, the buyer may be responsible for the applicable return delivery cost.

9.7 If a seller refuses or obstructs a return that Payeena has determined is required, Payeena may review the available evidence and determine the appropriate transaction outcome under its dispute and refund rules.

9.8 If a buyer refuses or fails to return an item when a return is required, Payeena may withhold the applicable refund and may allow the seller's eligible payout to proceed.

9.9 Refund Authorization: Eligible seller-initiated cancellations and qualifying funding failures are processed automatically, subject to the applicable financial and security controls. Refunds resulting from disputes or buyer-initiated post-funding cancellation requests require internal review and approval by Payeena before financial execution. No refund may be processed more than once for the same refundable amount.

9.10 Approved refunds are sent only to the buyer's verified bank account saved with Payeena, subject to successful payment-provider processing.

Where a transaction uses milestones, each milestone represents a defined portion of the agreed work, product, or service.

10.1 The buyer is responsible for reviewing each milestone before approving it.

10.2 Approved Milestones: Once the buyer approves a milestone, that milestone is considered completed and accepted. The amount associated with the approved milestone is final and non-refundable through Payeena's normal transaction workflow.

10.3 Unapproved Milestones: Milestones that have not been approved remain subject to Payeena's applicable cancellation, dispute, and refund rules. Where a dispute affects an unapproved milestone, Payeena may determine the eligible partial refund amount based on the transaction terms and available evidence, subject to internal review and approval.

10.4 Refund Where No Milestone Has Been Approved: If a milestone transaction qualifies for cancellation or a full refund after successful funding and no milestone has been approved, the buyer's refund is calculated by deducting the applicable non-refundable payment gateway fee and a ₦500 charge from the total amount paid.

10.5 Refund Where a Milestone Has Been Approved: Where at least one milestone has already been approved, the approved milestone amount remains non-refundable. Any refund relating to unapproved milestones is treated as a partial refund. Payeena retains its applicable service fee, and no portion of that service fee is refunded.

You must not use Payeena for illegal goods or services, fraud or deception, money laundering or financial crime, stolen goods, impersonation or identity fraud, unauthorized chargeback activity, or any activity that violates applicable law or payment-provider requirements.

You must not intentionally provide false transaction information, manipulate transaction evidence, misuse the dispute process, or attempt to obtain funds through fraudulent or deceptive means.

Payeena may suspend or terminate accounts, hold transactions, restrict platform functionality, or take other appropriate action where prohibited or suspicious activity is detected.

Payeena uses third-party payment service providers to process payments, refunds, transfers, and related financial transactions.

By using Payeena's payment functionality, you agree to comply with the applicable terms, requirements, and procedures of the relevant payment provider.

A payment is not considered successfully completed for Payeena transaction purposes until Payeena receives and verifies the applicable payment confirmation from the payment provider.

Payeena is not responsible for payment-provider downtime, payment failures caused by third-party systems, banking delays, provider restrictions, or settlement delays outside Payeena's reasonable control.

Payeena may charge a transaction or service fee for facilitating transactions and providing platform services.

Applicable payment-provider or gateway charges are included within Payeena's displayed transaction fee and are not presented as a separate additional customer fee where covered by that fee.

The applicable fee and total amount payable will be shown to the relevant party before payment is completed.

Payeena may apply different fee arrangements depending on the transaction amount and whether the buyer, seller, or both parties are responsible for the applicable fee.

Fees that have already been applied may not be fully refundable where a refund is subsequently issued, subject to Payeena's applicable refund rules.

A seller must have a verified bank account before creating or joining a transaction where seller payout is required.

14.1 Seller payout becomes eligible after the transaction is completed and any applicable dispute, review, or hold has been resolved.

14.2 For a completed transaction with no unresolved dispute, chargeback, security hold, or other payout restriction, Payeena automatically initiates the eligible seller payout when the required funds are available through its payment provider. No separate seller payout request or additionalapproval is required for normal completed transactions.

14.3 Payout timing may depend on the payment provider and receiving bank. Payeena does not guarantee an exact settlement time.

14.4 If a payout fails, Payeena may retry the payout, require the seller to correct or verify bank details, or take other appropriate steps to complete the payout.

A chargeback or payment dispute initiated through a payment provider is separate from Payeena's normal transaction dispute process.

15.1 Where a chargeback occurs while a transaction is still active or before seller payout, Payeena may place the transaction and seller payout on hold while the chargeback is reviewed and handled with the payment provider.

15.2 Where a chargeback is initiated against an active Payeena transaction, Payeena may temporarily restrict the buyer's account, place the transaction on hold, and suspend any pending seller payout while the matter is investigated. Payeena may review the transaction records, payment history, available evidence, and information provided by the payment service provider. Where Payeena determines that the buyer intentionally misused the chargeback process or engaged in fraudulent activity, the buyer's account may be permanently suspended. A chargeback does not automatically establish fraud, and restrictions may be reviewed based on the investigation and applicable legal requirements.

15.3 Payeena may provide transaction records, delivery evidence, confirmation records, communications, and other relevant evidence to the payment provider when responding to a chargeback.

15.4 Where a chargeback occurs after a seller payout has already been made, Payeena may review the transaction and determine appropriate action based on the circumstances, available evidence, payment-provider requirements, and applicable law.

15.5 Chargeback-related losses, recovery actions, account restrictions, or other consequences may be handled on a case-by-case basis.

Once a transaction is completed, the normal Payeena transaction workflow is closed.

16.1 A buyer cannot use the normal Payeena dispute, cancellation, or refund workflow to reopen a completed transaction.

16.2 Where a buyer experiences an issue after completion, the buyer should first contact the seller directly.

16.3 A buyer may report a post-completion issue to Payeena for record-keeping or review where appropriate, but submitting such a report does not automatically reopen the transaction or create an entitlement to a refund.

16.4 Payeena may take action outside the normal transaction workflow where there is evidence of fraud, abuse, unlawful activity, or another serious violation of these Terms.

To the maximum extent permitted by applicable law, Payeena is not responsible for losses arising from user misconduct, failed or defective deliveries, disputes between users, fraudulent conduct by users, third-party payment-provider failures, banking delays, or circumstances outside Payeena's reasonable control.

Payeena provides the platform and its transaction facilitation services on an 'as is' and 'as available' basis and does not guarantee that every transaction will be completed successfully or that either party will achieve a particular transaction outcome.

Nothing in these Terms excludes or limits liability that cannot lawfully be excluded or limited under applicable law.

Payeena may suspend, restrict, or terminate an account where identity verification cannot be completed, suspicious or fraudulent activity is detected, these Terms are violated, prohibited activity is suspected, a payment-provider requirement applies, or action is required by law.

Payeena may place transactions, refunds, or payouts on hold while investigating suspected fraud, disputes, chargebacks, account abuse, or other risks.

Suspension or termination of an account does not automatically cancel financial obligations or transaction obligations that arose before the suspension or termination.

Your use of Payeena is also governed by the Payeena Privacy Policy.

Payeena may collect and process identity information, verification information, contact information, transaction information, payment-related information, communications, evidence, device information, and usage information as described in the Privacy Policy.

Payeena implements reasonable security measures designed to protect personal and transaction information against unauthorized access, misuse, alteration, or disclosure.

You are responsible for maintaining the security of your account credentials and for notifying Payeena if you believe your account has been compromised or used without authorization.

You must not share your login credentials, authentication codes, or other security information with another person.

Payeena may temporarily restrict account or transaction activity where necessary to investigate suspected unauthorized access or security risks.

Payeena may update these Terms from time to time to reflect changes to the platform, transaction processes, payment providers, applicable requirements, or applicable law.

Where required, Payeena may notify users of material changes through the platform or other appropriate communication channels.

Your continued use of Payeena after updated Terms become effective constitutes acceptance of the updated Terms, except where applicable law requires a different form of consent.

These Terms are governed by the laws of the Federal Republic of Nigeria.

Subject to any mandatory rights or dispute-resolution requirements applicable under Nigerian law, disputes relating to these Terms or the use of Payeena will be subject to the jurisdiction of the competent courts of Nigeria.

For questions regarding these Terms, contact us at support@payeena.com.

Company: OLYTH TECHNOLOGIES LIMITED.