Terms of Service

1. Acceptance of Terms

By accessing or using FlexPurse ("Platform", "we", "our", or "us"), you agree to be legally bound by these Terms of Service. If you do not agree, you must discontinue use immediately.

2. Nature of Service

FlexPurse is a technology platform that facilitates structured rotating savings and contribution groups.

FlexPurse is not a bank, financial institution, investment company, or money-lending entity.

We do not accept deposits or directly hold user funds. All payments and transfers are processed by our third-party payment processor, Paystack.

3. Payment Processing

All financial transactions on FlexPurse are processed through Paystack, a licensed third-party payment service provider.

By using the Platform, you also agree to comply with Paystack’s applicable terms and policies.

FlexPurse does not store card details or directly custody funds.

4. Chargebacks & Payment Disputes

By making a payment on FlexPurse, you represent and warrant that you are the authorized holder of the payment method used and that the transaction is valid and intentional.

Users agree not to initiate chargebacks, reversals, or payment disputes with their bank or card issuer for valid and authorized transactions related to savings contributions, fees, or other platform services.

If a chargeback or payment dispute is initiated:

• FlexPurse reserves the right to immediately suspend or restrict the user’s account and access to platform features.
• The user may be held liable for the full disputed amount, including any associated processing fees, administrative costs, or penalties imposed by our payment processor.
• Withdrawal privileges and participation in contribution groups may be suspended pending investigation.

FlexPurse does not process payments directly. All transactions are processed by our third-party payment provider. Disputes are handled according to the payment processor’s dispute resolution procedures.

Fraudulent or abusive chargebacks may result in permanent account termination and may be reported to financial institutions or law enforcement authorities where appropriate.

5. KYC & Identity Verification

To comply with applicable financial regulations and fraud prevention standards, FlexPurse may require identity verification (KYC) before enabling certain features.

• Withdrawal privileges may require identity verification.
• Wallet limits may vary depending on verification tier.
• We may request government-issued ID or supporting documentation.

Failure to complete required verification may result in restricted account functionality.

6. User Responsibilities

• Provide accurate personal and payment information.
• Make contributions according to agreed schedules.
• Not engage in fraud, abuse, or misrepresentation.
• Maintain the confidentiality of account credentials.

7. Risk Disclosure

Rotating savings groups rely on member compliance. Delayed or missed contributions by participants may impact payout timing.

FlexPurse does not guarantee profits, investment returns, or protection against member default.

8. Anti-Fraud & Compliance

We reserve the right to suspend, freeze, or terminate accounts suspected of fraud, money laundering, abuse, or regulatory violations.

We may cooperate with law enforcement or regulatory authorities where required by law.

9. Limitation of Liability

To the fullest extent permitted by law, FlexPurse shall not be liable for indirect, incidental, or consequential damages, including loss of savings or delays caused by third-party payment processors.

Our total liability shall not exceed the amount of service fees paid by you within the preceding three (3) months.

10. Suspension & Termination

We may suspend or terminate your account if you:

• Violate these Terms.
• Provide false or misleading information.
• Engage in fraudulent conduct.
• Attempt to bypass security or verification systems.

11. Governing Law

These Terms shall be governed by the laws of the Federal Republic of Nigeria.

12. Contact Information

For questions regarding these Terms, contact:

support@flexpurse.com