Beyonic Terms Of Service
By signing up for an account for the use of the Beyonic digital payments portal (“Beyonic”) on this website (www.beyonic.com) (the “Website”), or by using any of our services, you are deemed a "merchant" and agree to these Terms of Service (the "Agreement").
Please read this Agreement carefully before signing up as a merchant. If you do not agree to any or all of the terms of this agreement, do not use this Website or our services as a merchant.
Beyonic is an interconnected payments platform for businesses, owned and operated by MFS Africa UK Limited and its affiliates ("MFS Africa", "we", "us" or "our"), which enables interoperable digital payments through a web and mobile interface.
Through Beyonic, MFS Africa will provide software capabilities to you, to enable you to: (a) process payments; b) process collections; and, in certain markets, c) send airtime to your contacts (“Beyonic Services”).
We are an independent contractor for all purposes, providing this Website and our Services on an independent service provider basis. We do not endorse, have control or assume the liability or legality for the products or services that are paid for with our Service.
This Agreement is an agreement between you and MFS Africa. It details MFS Africa's obligations to you and highlights certain risks of using the Services and you must consider such risks carefully as you will be bound by the provisions of this Agreement through your use of the Website or any of our Services.
To use the Beyonic Services, you have to create an account on Beyonic (“Account”) by registering on the Website.
To register, you will provide us with certain information such as your email, first name, last name, business name, incorporation documents, phone number government issued identity copies of the directors of your company and other information or documentation that will allow us to verify your identity, after which we will approve your Account, unless approval is deemed risky.
By creating an Account, you give us permission to carry out these verification activities.
In order to use the Beyonic Services, you must have, in your name, a valid mobile money account that you will provide to us and authorise us to charge for payment for your use of the Services (“Settlement Account”);
Change of Information
In the event that you change any information provided to us at registration, such as your business name, address, financial institution, mode of payments or the products and services that you offer (if you are a merchant), or where a corporate restructuring of your business occurs, you agree to notify us within 14 calendar days of such change. We may be unable to respond to you if you contact us from an address, telephone number or email account that is not registered with us, and we reserve the right to suspend your use of our services where your information that is registered with us is not up to date.
Representation and Warranties
You represent and warrant to us that you:
have full power and authority to enter into, execute, deliver and perform the terms of this Agreement;
are duly organised, authorised and in good standing under the laws of the country in which you are incorporated or in which your business operates,
have provided true, complete, and up-to-date contact and billing information;
are not listed on any government list of prohibited or restricted persons; and
will not use the Beyonic Services in a way that violates any laws or regulations.
Users of the Website and Beyonic Services must be at least 18years of age. We will not intentionally engage in any dealings for the purposes of the Beyonic Services with any persons who are less than 18 years of age.
You understand that your password is personal and must not be shared with any one. When your password is used to log into your Account either by you or a third party, access to the Account will be deemed to be regular and we will not be liable to you for any damages, claims or loss that may arise from such access. We may from time to time share information on access to your Account and you undertake to adhere to the same.
You agree to also take all reasonable steps to protect the security of the personal electronic device through which you access the Beyonic Services (including, without limitation, using PIN and or password protected personally configured device functionality to access the Beyonic Services and not sharing your device with other people).
You must inform us immediately if there has been, or if you suspect, any breach of security, confidentiality or of your Account, and update your password details immediately to secure your Account.
We acknowledge that you own any content or data you transfer to us or our equipment as a result of your use of the Beyonic Service (“Data”).
If any of the Data contains personal data, we will process such personal data in accordance with the Data Processing Terms.
By entering into this Agreement, you hereby grant us a perpetual, irrevocable, sub-licensable, assignable, worldwide, royalty-free license to use, reproduce, electronically distribute, and display your Data for the following purposes:
providing and improving the Beyonic Services;
internal usage, including but not limited to, data analytics and metrics, so long as individual customer data has been anonymized and aggregated with other customer data;
complying with applicable legal requirements and assisting law enforcement agencies by responding to requests for the disclosure of information in accordance with local laws; and
any other purpose for which consent has been provided by your customers (in the case of merchants) or the person/s to whom you send payments or airtime to through the Beyonic Service (“Beneficiaries”).
We hereby grant you a revocable, non-exclusive, non-transferable license to use the Beyonic Service in accordance with the accompanying documentation. This license grant includes all updates, upgrades, new versions and replacement software for your use in connection with the Beyonic Services. If you do not comply with the documentation and any other requirements provided by us in respect of the Beyonic Services, you will be liable for all resulting damages suffered by you, MFS Africa and third parties.
Unless otherwise provided by applicable law, you agree not to alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the Beyonic Services.
Upon expiration or termination of this Agreement, you will immediately cease all use of the Beyonic Services or any software and documentation.
We grant you the non-exclusive and non-transferable right to use our trademarks associated with the Beyonic Services (the “MFS Africa Marks”) for the purpose of the Beyonic Services.
Nothing in this Agreement shall alienate our rights and interest in relation to the MFS Africa Marks. You agree that you will not claim or take any steps that would prejudice our interests and rights to the MFS Africa Marks.
Any rights to use the MFS Africa Marks are revocable and will immediately cease once this Agreement expires or is terminated.
Other than those expressly mentioned in this Agreement, we do not grant any right or license to any of our intellectual property rights by implication, estoppel or otherwise.
We will each retain all intellectual property rights, including all ownership rights, title, and interest, in and to our own respective products and services, subject only to the rights and licenses specifically granted herein.
You hereby grant us permission to use your name and logo in our marketing materials including, but not limited to use on our Website, in customer listings, in interviews and in press releases. Such Publicity does not imply an endorsement for your products and services.
The parties recognize that they may have access to information relating to the business, finance, marketing plans, products, strategy, proprietary information, techniques or any other information relating to the operations or activities of the parties (the “Confidential Information”). Confidential Information shall not be deemed to include information that: a) is or becomes publicly known other than through any act or omission of the receiving party; b)was in the other party’s lawful possession before the disclosure; c) is lawfully disclosed to the receiving party by a third party without restriction on disclosure; d)is independently developed by the receiving party, which independent development can be shown by written evidence; or e) is required to be disclosed by law, by any suitable court of jurisdiction or by any regulatory or administrative body.
The Confidential Information shall only be used for this Agreement and access to the information shall be limited to the authorised representatives of the receiving party on a need to know basis who shall be notified of the confidentiality obligations under this Agreement. The parties shall each take reasonable steps to protect the Confidential Information in the same manner as they would handle their own.
Know Your Customer
You shall be responsible for verifying the identities of your customers (in the case of merchants) and or your intended beneficiaries, ensuring that they are authorised to carry out the transactions on your platform, and determining their eligibility to purchase your products and services or receive disbursement payouts.
You are also required to maintain information and proof of service or product delivery to your customer. Where a dispute occurs needing resolution, you may be required to provide us with this information. We reserve the right to suspend or terminate your access to the Services where we receive fraud related complaint.
Our Fees & Pricing Schedule
You agree to pay us for providing the Services to you under this Agreement (the “Fees”) which information is detailed on the Pricing page on the Website. The Pricing page is incorporated into this Agreement.
We reserve the right to revise our Fees at any time and will notify you within 5 (five) business days of such change.
Subject to the terms of this Agreement and based on the settlement timelines provided by applicable law, we will pay into your nominated bank settlement account ("Bank Account") all amounts collected through Beyonic and due to you from your transactions with customers, after deducting our Fees, any reversals or invalidated payments, refunds or other amounts that you owe to us under this Agreement ("Settlement").
In the event the amount due to us exceeds the Settlement due to you, you hereby authorize us to debit your Bank Account for such outstanding amount, and or set-off the outstanding amounts against future Settlements payable to you. On our request, you agree to provide us with all necessary and incidental information relating to the Bank Account.
Information relating to each Settlement will be available on your Beyonic dashboard ("Dashboard") after the Settlement. By login into your Beyonic Account, you will have access to information regarding your transactions that have been processed and settled using Beyonic ("Transaction Statement").
The responsibility to compile and retain permanent records of all transactions completed with your Beyonic Account based on your business needs or your data retention policy shall be yours.
We will use commercially reasonable measures to protect your information from authorised access, modification or accidental loss, and deal with any security incident once we become aware of it.
Once you suspect any fraudulent activity or transaction, you undertake to let us know with immediate effect and halt (i.e. suspend or terminate) the delivery of the Beyonic Services. We also reserve the right to suspend or terminate our provision of the Services to you where we suspect that fraudulent transactions have been initiated and or completed on your Account; we shall not be liable to you for any loss, claim or damages arising from our action.
To reduce the incident or risk of fraud, you shall adopt such other controls or protocol we may recommend or provide and other measures that are necessary for your business.
You agree to report to us any error you detect when reviewing transactions completed any of the Services. We reserve the right to investigate such errors or other issues identified and rectify the situation.
In the event that the error reveals that we owe you money and the value is not disputed, we will transfer the amount to your Bank Account, assuming you owe us no Fees.
You shall immediately notify us of any transaction erroneously processed through your platform, we will take the necessary steps to investigate any such reports and attempt to rectify the errors by crediting or debiting your Bank Account as may be necessary.
Any errors shall be reported within forty five (45) days of its occurrence failing which the rights to any refunds due to such error shall be waived.
You shall to cooperate with us by providing us with any relevant information we may reasonably request
Termination and suspension
You may terminate this Agreement by closing your Beyonic Account.
Notwithstanding any other provisions in this Agreement, we may suspend your Account and your access to our Services and any funds, or terminate this Agreement, where:
you do not comply with any of the provisions of this Agreement or any laws or regulations applicable to your operations;
so directed by applicable laws;
where so directed to do so by any licensed partner responsible for processing your transactions; or
where a suspicious or fraudulent transaction occurs.
Where access to any funds is suspended, we will suspend the processing of the relevant transaction(s), or withhold Settlement until an investigation into the transaction(s) has been certified as completed or concluded by us. Any funds we retain as a result will under no circumstances incur interest or other compensation in favour of you.
OUR WEBSITE AND BEYONIC SERVICES ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS, IMPLIED AND OR STATUTORY WARRANTIES (INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED OR STATUTORY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, TITLE, AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS). WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, WE MAKE NO WARRANTY THAT OUR WEBSITE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE OR MEET YOUR SPECIFIC REQUIREMENTS. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU THROUGH OUR WEBSITE OR US, OR OTHER AFFILIATED COMPANIES, OR ITS OR THEIR SUPPLIERS (OR THE RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS OF ANY SUCH ENTITIES) (COLLECTIVELY, THE "MFS AFRICA PARTIES") SHALL CREATE ANY WARRANTY WHATSOEVER.WHILE WE TRY TO ADOPT CONTROLS TO KEEP THE WEBSITE AND SERVICES BUG-FREE, SAFE AND AVAILABLE AT ALL TIMES, YOU HOWEVER USE IT AT YOUR OWN RISK.
You shall indemnify and keep us the MFS Africa Parties indemnified against any claims, actions or demands, liabilities and settlements including without limitation, reasonable legal and accounting fees, resulting from, or alleged to result from, your violation or breach of the terms of this Agreement.
Limitation of Liability
IN NO EVENT WILL ANY OF THE MFS AFRICA PARTIES BE LIABLE FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, PUNITIVE, INCIDENTAL OR EXEMPLARY DAMAGES OF ANY KIND WHATSOEVER OR HOWSOEVER CAUSED INCLUDING BUT NOT LIMITED TO ANY LOSS OF COMMERCIAL OPPORTUNITIES, LOSS OF REVENUE, OR OTHER INTANGIBLE LOSSES (WHETHER ARISING UNDER CONTRACT, DELICT, TORT, STATURE OR OTHERWISE AND WHETHER THE LOSS OR DAMAGE WAS ACTUALLY FORESEEN OR REASONABLY FORESEEABLE) ARISING OUT OF OR IN CONNECTION WITH THE WEBISTE OR THE BEYONIC SERVICES.
Where any of the warranties, disclaimers or the limitation or exclusion of liability for certain damages are not permitted in any jurisdiction, they shall not apply to you. The unaffected warranties, disclaimers or exclusion of liability for damages shall continue to subsist. Where as a matter of applicable law any MFS Africa Party does not, disclaim any implied warranty or limit its liabilities, the scope and duration of such warranty and MFS Africa Party's liability shall be the minimum permitted under such applicable law.
Updates, Modifications & Amendments
We reserve the right to amend or revise this Agreement at any time by giving notice to you on this page, the date of last modification will be stated on this page and shall not have retroactive effect.
We advise that you check this page often to remain aware of any modification to this Agreement.
You may object to any of the changes or modifications to this Agreement by ceasing to use our website and or the Services immediately. Your continued use of the website and or the Services will be deemed as your acceptance of the changes.
This Agreement shall be interpreted and governed by the laws of England. Any dispute that cannot be settled by the parties within a period of fourteen (14) days, shall by resolved by arbitration under the commercial rules of the London Court of International Arbitration (“LCIA”) then in effect and shall be conducted in English Language, in London. The number of arbitrators shall be one provided that where the parties are unable to agree on the choice of the arbitrator, reference may be made by either Party to the President of the LCIA for the appointment of the Arbitrator.
Where any term of this Agreement is determined by any court or tribunal to be invalid or unenforceable, either in whole or in part, that part shall be severed or stricken off from this Agreement and shall not affect the validity of any other part in this Agreement.
All communications that we provide to you electronically satisfy any legal requirement that such communications should be in writing. All notices sent pertaining to this Agreement shall be sent to the email or physical addresses that you have provided when registering an Account, or as updated by you from time to time. MFS Africa nominates the following address for the service of any legal notices: 51 Eastcheap, London, EC3M 1JP, United Kingdom.
Assigning or sub-contracting any of your rights or obligations under this Agreement to any third party is prohibited. We reserve the right to transfer, assign or sub-contract the benefit of the whole or part of any rights or obligations under this Agreement to any third party.