1. Acceptance of Terms
These Terms and Conditions ("Terms") constitute a legally binding agreement made between you, whether personally or on behalf of an entity ("you") and RENTI PAY Limited ("Renti-Pay", "we", "us", or "our"), concerning your access to and use of the Renti-Pay mobile application and website (collectively, the "Platform").
Please read these Terms carefully before using our Platform. By accessing or using the Platform, you acknowledge that you have read, understood, and agree to be bound by all of these Terms. If you do not agree with all of these Terms, you are prohibited from using our Platform and must discontinue use immediately.
2. Account Registration and Eligibility
To register an account and benefit from the Platform's services, you must satisfy the following criteria:
- You must be at least 18 years of age (or have explicit parental/guardian consent if legally recognized under special circumstances).
- You must be a legal resident of the Federal Republic of Nigeria (or operate in a jurisdiction where Renti-Pay is legally available).
- You must provide accurate, current, and complete registration information, including your legal name, a valid email address, phone number, and Bank Verification Number (BVN).
You are responsible for maintaining the confidentiality of your account credentials and password. You agree to notify us immediately of any unauthorized access or breach of security. Renti-Pay will not be liable for any losses caused by unauthorized use of your account.
3. Savings Rules
Renti-Pay is a tool that allows tenants to plan their finances and save incrementally toward their housing rent. By using the savings features, you agree to the following terms:
- Incremental Savings: Tenants can save weekly, bi-weekly, or monthly by linking a valid debit card or utilizing direct bank transfer methods.
- Savings Management: All rent savings are processed and held through our banking infrastructure powered by Monnify, a CBN-licensed payment service provider. Renti-Pay does not hold savings deposits directly. Funds are stored in dedicated virtual accounts with full regulatory oversight.
4. Payouts, Locks, and Landlord Payout
To help you achieve your savings goal without distraction, Renti-Pay offers structured savings options:
- Locked Savings Goals: If you choose to lock a savings plan, withdrawals are restricted until the specified maturity date (the rent due date). This restriction prevents impulsive spending and secures your housing stability.
- Maturity and Landlord Transfers: Upon reaching maturity, savings can be transferred directly to the designated landlord's verified bank account or paid back to the tenant's registered bank account depending on the platform plan selected.
5. Fees and Charges
Renti-Pay operates under a transparent billing system:
- Zero Hidden Fees: Setting up an account, establishing goals, and depositing funds into your rent savings do not incur registration or platform maintenance fees.
- Transaction Processors: Standard payment gateway transaction fees (imposed by third-party processors like Paystack or Flutterwave) may apply for card-based deposits and are displayed clearly before payment confirmation.
- SMS and Notification Fees: Renti-Pay does not charge for SMS reminders or email alerts.
6. User Conduct and Acceptable Use
You agree to use the Platform only for lawful purposes related to rent savings and payment transparency. You must not:
- Submit fraudulent, deceptive, or misleading KYC documents or BVN validations.
- Use the Platform for any activity that violates anti-money laundering (AML) laws or terrorism financing laws of the Federal Republic of Nigeria.
- Attempt to bypass security systems, launch viruses, or overload Platform servers.
- Harass, threaten, or abuse Renti-Pay employees or other users.
Renti-Pay reserves the right, in its sole discretion, to suspend or terminate your account if we suspect any illegal activity, fraud, or violation of these Terms.
7. Intellectual Property
The Platform and its entire original content, features, and functionality (including but not limited to all information, software, text, displays, images, video, and audio, and the design, selection, and arrangement thereof) are owned by RENTI PAY Limited.
These assets are protected by copyright, trademark, and other intellectual property or proprietary rights laws of Nigeria and international treaties. You are granted a limited, non-exclusive, non-transferable license to access the Platform for your personal, non-commercial use only.
8. Disclaimers and Limitation of Liability
The service is provided on an "as-is" and "as-available" basis. Renti-Pay makes no warranties, expressed or implied, regarding the continuous availability of the app, database synchronization speed, or absence of software bugs.
In no event shall Renti-Pay, its directors, employees, or partners, be liable for any indirect, incidental, special, consequential, or punitive damages (including loss of profits, data, or goodwill) arising out of your access to or inability to use the Platform.
Because Renti-Pay partners with Monnify for banking infrastructure, Renti-Pay is not liable for bank processing failures, partner outages, or acts of God affecting the general financial system, except to the extent required by regulatory guidelines.
9. Governing Law and Dispute Resolution
These Terms and any dispute arising from your use of the Platform shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
In the event of a dispute, we encourage you to first contact us directly at info@rentipayafrica.com to reach an amicable settlement.
If an amicable settlement cannot be reached within 30 days, the dispute shall be referred to and resolved by arbitration in Lagos or Port Harcourt, Nigeria, in accordance with the Arbitration and Mediation Act of Nigeria.