By signing up for an account on this website, any of our websites and/or services, you are deemed a Merchant and agree to the terms of this Merchant Service E-Agreement. PLEASE READ THIS E-AGREEMENT CAREFULLY BEFORE SIGNING UP AS A MERCHANT. If you do not agree to any or all of these Terms, DO NOT USE THIS SITE OR ANY OF OUR SERVICES!

SEERBIT is a proprietary payment gateway and trademark of CENTRIC GATEWAY LIMITED a company duly incorporated under the laws of Nigeria. SEERBIT is also incorporated as Seerbit Limited in Ghana and Centric Gateway Limited in Kenya.

This agreement is made between CENTRIC GATEWAY LIMITED (hereinafter referred to as "SEERBIT" which expression shall where the context so admits include its successors- in-title, agents, legal representatives and assigns);

AND,

You (hereinafter referred to as the "Merchant" which expression shall where the context so admits include its successors-in-title, agents, legal representatives and assigns), Both hereinafter referred to jointly as "Parties" or individually as "Party".

WHEREAS:

  • SEERBIT is a payment services and financial technology company that provides a range of payment solutions, payment integration and value-added services for businesses and financial institutions on web, mobile and offline channels.
  • SEERBIT has developed and owns a payment gateway and by collaborating with the Acquirer, it facilitates card acquiring and other payment services for Merchants through its payment gateway.
  • The MerchantisdesiroustopartnerwithSeerBittouseitspaymentgatewayforprocessingof payments from its customers.
  • The Parties hereby wish to set out in this Agreement, the general principles and terms that will govern their relationship in respect of the proposed services hereinafter explained and described.

NOW IT IS HEREBY AGREED as follows:

Definitions

The following terms when used in this Agreement will have the meanings set forth in this Section: "Card Scheme" means any of the major credit and debit card companies, including but not limited to MasterCard, Verve and Visa and any successor organizations. Card scheme also refers to any comparable bodies which provide Cards, and regulate Card acceptance."Card Issuer" means any financial institution or company that issues or causes to be issued, debit, credit and prepaid cards.

"Chargeback" means a Transaction that has been returned to the Merchant by the card issuer in accordance with the Rules.

"Confidential Information" means any and all information disclosed to one Party by the other Party or gained in the course of one Party's relationship with the other (in a manner clearly indicating its confidential nature), including but not limited to information relating to the business of the other Party and or Merchant pricing, the terms of this Agreement, programs, devices, trade secrets, methods, processes, financial data, sales offices, or lists of customers or suppliers;

"Card" means any valid credit or debit card which is issued by an issuer for the exclusive use of an authorized cardholder for card transactions. Subject to the terms of this Agreement, such cards may include MasterCard, Verve and Visa cards

"Loss" means any loss incurred by either party for any reason attributable to this Agreement, including but not limited to fines, assessments, and penalties imposed by a Card Scheme or amounts attributable to non- compliance with the Rules, uncollected Charge backs, uncollected fees and Merchant fraud;

"Marks" means the names, logos, trade names, logotypes, trademarks, service marks, trade designations, and other designations, symbols, and marks, including but not limited to SEERBIT, the Merchant and the Card Scheme brand marks that SEERBIT, the Merchant and the Card Schemes and/or their affiliates or subsidiaries own, manage, license, or otherwise control and make available for use by banks and other authorized entities.

"Merchant Agreement" or "Agreement" means this written contract entered into by SEERBIT and the Merchant for the provision of Payment Processing services;

"Nominated Account" means the Merchant's settlement account with SEERBIT where the net proceeds from the transactions are credited.

"Acquiring Services" means the payment processing services provided by SEERBIT to the Merchant which enables the Merchant to accept Cards as payment in respect of sale of goods and services supplied by the Merchant;

PCI DSS" means Payment Card Industry Data Security Standards as stipulated by the PCI Security Standards Council from time to time and enforced by the payment schemes;

"Rolling Reserves" means an amount of the Merchant's payout reserved for a specified period to cover obligations arising from the Merchant's transactions.

"Rules" means the rules and regulations and procedures issued by the Card Schemes as amended from time to time

"Services" means the Acquiring Services, the technical support, risk management, underwriting, payment solutions and any other products or services that SEERBIT may offer to the Merchant in accordance with this Agreement;

"Transaction" means the purchase by a cardholder/customer of goods or services from the Merchant, by use of a Card. The term includes credit transactions and adjustments, when appropriate;

"URL" means the Universal Resource Locator which is the global address of documents and other resources on the World Wide Web. It also refers to any websites owned and operated by the Merchant where the Merchant accepts, or states that it will accept, payments by Payment Methods supported by SEERBIT

This Agreement is entered into on a non-exclusive basis.

initiatives which do not violate any applicable laws, public policy or morality and which do not reflect negatively upon the business reputation of SEERBIT.

The Merchant shall, in relation to this agreement, engage in advertising and marketing initiatives which do not violate any applicable laws, public policy or morality and which do not reflect negatively upon the business reputation of SEERBIT.

The Merchant agrees that SEERBIT may run further checks on Merchant's identity, creditworthiness and background by contacting and consulting relevant registries and governmental authorities or any other relevant sources.

If a Chargeback occurs for a Transaction in respect of which the Merchant already received Payout of the related funds, this will result in the conditional obligation for the Merchant to immediately return the remitted funds to SEERBIT after a reconciliation has been conducted between the Merchant and SEERBIT;

The Merchant shall ensure that its platform is not used as an avenue for fraud or fraudulent transactions.

The merchant agrees to maintain its chargeback within a minimum threshold specified by SEERBIT. SEERBIT reserves the right to suspend or terminate services under this agreement if the merchant's chargebacks exceed this threshold.

The merchant shall only utilize SeerBit and by extension SEERBIT's APIs for the purposes of processing transactions related to its stated business activities. The merchant shall also ensure it notifies SEERBIT by written communication if it is desirous of processing transactions arising from business activities not stated prior to the execution of this Agreement.

The merchant is prohibited from utilizing SeerBit and by extension SEERBIT's APIs for the processing of transactions arising from business activities which are in violation of any national laws, regulations or card scheme rules.

The Merchant shall ensure that its platform is not used as an avenue for fraud or fraudulent transactions.

SEERBIT will review Merchant's application and if satisfied, SEERBIT shall enable the Payment Processing Services for the Merchant within 4 days of receipt of confirmation that all such requirements have been satisfied. For purposes hereof, the Merchant shall be granted access to SEERBIT's merchant administration system and SEERBIT shall ensure that it creates a profile in the Merchant's system for purposes of accessing daily report of the transaction made and tracking of payments processed through the SEERBIT platform.

SEERBIT will review Merchant's application and if satisfied, SEERBIT shall enable the Payment Processing Services for the Merchant within 4 days of receipt of confirmation that all such requirements have been satisfied. For purposes hereof, the Merchant shall be granted access to SEERBIT's merchant administration system and SEERBIT shall ensure that it creates a profile in the Merchant's system for purposes of accessing daily report of the transaction made and tracking of payments processed through the SEERBIT platform.

This Agreement is entered into on a non-exclusive basis.