Terms of Service

Payeena is a transaction coordination and escrow facilitation platform designed to help buyers and sellers complete safer peer-to-peer transactions.

Payeena facilitates transaction agreements, coordinates payment and delivery workflows, manages confirmation timelines, and supports dispute resolution processes.

Payeena is NOT a bank, financial institution, or licensed escrow provider.

Payeena acts strictly as a transaction coordination platform. We do not hold user funds directly, operate a custodial wallet, process payments independently, or act as a money transmitter.

All payments are processed through licensed third-party payment service providers integrated into the platform. These providers are responsible for payment processing, settlement, and financial custody where applicable.

To use Payeena, you must be at least 18 years old, provide a valid email address, provide a valid National Identification Number (NIN), and complete identity verification through approved third-party providers.

We may reject or suspend accounts that fail verification or present risk indicators.

When registering, you agree to provide accurate information. We use third-party identity verification services to verify your NIN.

As part of verification, we may store your full name, your date of birth, and a securely encrypted, non-reversible representation of your NIN. This is used to verify identity, prevent duplicate accounts, and reduce fraud.

You agree that you will not create multiple accounts using the same identity.

Each transaction on Payeena follows a structured process:

5.1 Deal Creation — Either buyer or seller may create a transaction, including item/service description, amount, delivery expectations, seller delivery deadline, and buyer confirmation window.

5.2 Agreement — Both parties must accept the transaction terms before payment is made.

5.3 Payment — Buyer makes payment via integrated third-party payment providers. Payment confirmation triggers the transaction workflow.

5.4 Delivery — Seller must deliver the agreed product or service within the specified deadline. Seller may upload proof of delivery or completion.

5.5 Buyer Confirmation — Buyer is notified to confirm delivery within a defined timeframe.

5.6 Completion — If the buyer confirms delivery, or fails to respond within the confirmation window without raising a dispute, the transaction may be marked as completed.

5.7 Disputes — Either party may raise a dispute before completion. Disputed transactions are paused until resolution.

Both parties agree that sellers are bound by delivery deadlines specified in each transaction, and buyers are bound by confirmation timeframes after delivery is marked complete.

Failure to act within defined timeframes may result in automatic progression of transaction status, or platform-defined resolution outcomes.

If a dispute is raised, the transaction is temporarily paused, both parties may submit evidence, Payeena may review available information, and a resolution decision will be made based on platform rules.

Possible outcomes include release of funds to seller, refund to buyer, or partial resolution based on evidence.

Payeena may act as a neutral facilitator but does not guarantee dispute outcomes in favor of any party.

You agree not to use Payeena for: illegal goods or services, fraud or deception, money laundering or financial crime, stolen goods, unauthorized chargeback schemes, impersonation or identity fraud, or any activity that violates applicable laws.

We reserve the right to suspend or terminate accounts involved in suspicious or prohibited activity.

Payeena integrates with licensed third-party payment providers. By using Payeena, you also agree to the terms of those providers.

We are not responsible for payment gateway downtime, transaction failures caused by third-party providers, or delays in settlement outside our control.

Payeena may charge service fees for transaction facilitation, dispute handling (if applicable), or platform usage.

All applicable fees will be disclosed before transaction completion.

To the maximum extent permitted by law, Payeena is not liable for: user misconduct, failed deliveries, fraudulent transactions between users, third-party payment provider failures, or indirect or consequential damages.

We provide the platform "as is" and do not guarantee transaction outcomes.

We may suspend or terminate accounts if identity cannot be verified, suspicious activity is detected, terms are violated, or required by law or payment providers.

We may also freeze transactions during investigations.

Your use of Payeena is also governed by our Privacy Policy. We collect and process identity information (including NIN verification data), contact information, transaction data, and usage data.

We implement reasonable security measures, including encryption of sensitive identity data.

You are responsible for maintaining account security, protecting login credentials, and ensuring authorized use of your account.

We may update these Terms from time to time. Continued use of Payeena means you accept updated Terms.

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes will be subject to the jurisdiction of Nigerian courts or arbitration mechanisms as defined by the platform.

For questions regarding these Terms, contact us at support@payeena.com. Company: OLYTH TECHNOLOGIES LIMITED.