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Terms of Use
- These Terms of Use (“Terms”) govern the use of the Globus Bank Payment Gateway (“Gateway”) by merchants and their authorised users (“Merchant”, “you”, or “your”).
- By registering for, integrating with, or using the Gateway, you acknowledge that you have read, understood, and agree to be bound by these Terms, as well as any applicable Globus Bank policies, agreements, and regulatory guidelines.
- If you do not agree with any part of these Terms, you must discontinue use of the Gateway immediately.
For the purpose of these Terms:
- •“Bank” or “Globus Bank” refers to Globus Bank Limited and its affiliates.
- •“Merchant” means any business or entity approved by the Bank to receive online payments via the Gateway.
- •“Customer” means any person who initiates payment to the Merchant using the Gateway.
- •“Transaction” means a payment instruction initiated through the Gateway.
- •“Chargeback” means a reversal of a transaction initiated by a customer’s issuing bank.
- •“Settlement” means the transfer of funds from the Bank to the Merchant’s designated account.
- •“Dispute” means a transaction queried or challenged by a customer or financial institution.
- •“Integration” means the process of connecting a Merchant’s system or website to the Gateway through API or plugin.
3.1 The Merchant must be a duly registered entity with a valid CAC certificate of registration, Tax Identification Number, license to operate (where applicable), and an operational Globus Bank Account.
3.2 The Merchant must provide all KYC documentation requested by the Bank, including SCUML registration (where applicable)
3.3 The Bank reserves the right to reject or terminate onboarding at any stage if documentation or due diligence findings are unsatisfactory.
3.4 The Merchant shall not represent or act on behalf of the Bank without prior written authorisation.
4.1 The Globus Bank Payment Gateway enables Merchants to:
4.1.1 Accept online card wallet payment, USSD payment and account-based payments from customers;
4.1.2 Access real-time transaction monitoring dashboards;
4.1.3 Receive settlement into a designated Globus Bank Account in accordance with agreed timelines.
4.2 The Service does not include:
4.2.1 Credit issuance or lending facilities;
4.2.2 Foreign currency conversions outside approved settlement arrangements agreed on the merchant SLA;
4.2.3 Storage of customer card data (the Bank is PCI-DSS compliant and processes data through secure networks only).
- •Money laundering or terrorism financing;
- • Sale of restricted goods (e.g., weapons, narcotics, counterfeit products, adult content);
- • Unlicensed financial or crypto-asset transactions.
6.1 Globus Bank shall:
6.1.1 Maintain and operate the Payment Gateway in line with the Nigeria Data Protection Act (NDPA) 2023 and other relevant regulatory standards.
6.1.2 Provide the Merchant with API documentation, integration support, and testing access.
6.1.3 Ensure settlement of successful transactions within the agreed settlement cycle as defined in the Merchant Payment Processing Agreement.
6.1.4 Provide transaction monitoring tools and periodic reports.
6.1.5 Investigate and support resolution of disputes and chargebacks within prescribed SLAs.
6.1.6 Implement industry-standard data security, encryption, and fraud prevention measures.
7.1 The Merchant shall pay applicable transaction fees and commissions as communicated and agreed in writing.
7.2 Fees are automatically deducted from each successful transaction prior to settlement.
7.3 The Bank reserves the right to review and adjust its fees, provided that notice is given to the Merchant prior to implementation.
7.4 Where any regulatory changes necessitate an adjustment, the revised charges shall take effect upon notification to the Merchant.
8.1 Settlement shall be made into the Merchant’s nominated Globus Bank account, subject to agreed timelines.
8.2 The Bank may withhold settlement in cases of suspected fraud, regulatory investigation, or unresolved chargebacks.
8.3 Any settlement errors must be reported within 24-48 hours of occurrence; beyond this window, the Bank bears no liability.
9.1 Customers may raise disputes through their issuing banks or via Globus Bank’s customer channels.
9.2 The Merchant is required to provide valid documentation to contest chargebacks within the timeframe stipulated by the card scheme or regulator.
9.3 Failure to provide evidence within the stipulated period shall result in the reversal of funds to the customer.
9.4 The Bank reserves the right to debit the Merchant’s account for any chargeback loss.
9.5 All unresolved disputes between the Merchant and the Bank shall be settled amicably; failing which, they shall be referred to a Court of competent jurisdiction.
10.1 The Bank shall process all personal data in compliance with the Nigeria Data Protection Act (NDPA).
10.2 The Merchant agrees not to store, copy, or reuse customer payment credentials.
10.3 The Merchant must implement reasonable data protection measures and notify the Bank of any breach immediately.
10.4 The Merchant authorises the Bank to share relevant transactional data with regulators, card schemes, or law enforcement agencies as required by law.
11.1 The Bank will use reasonable efforts to ensure uptime of the Gateway, but does not guarantee uninterrupted access.
11.2 Scheduled maintenance or system upgrades shall be communicated in advance.
- •Merchant system errors;
- •Network or telecom failures;
- •Force majeure events.
12.1 The Merchant is granted a limited, non-exclusive, non-transferable license to use the Gateway solely for its business operations.
12.2 The Merchant shall not copy, modify, or attempt to reverse engineer any part of the Gateway.
- The Bank shall not be liable for any indirect, incidental, special, or consequential losses or damages, including loss of profits, loss of business, loss of goodwill, or loss of data, whether arising in contract, tort (including negligence), or otherwise, and whether foreseeable or not, arising from the use or inability to use the Gateway or any interruption, error, defect, delay, or failure in the performance of the Gateway, even if the Bank has been advised of the possibility of such losses or damages.
14.1 The bank strives to keep the Gateway available, secure, and error-free; however, the merchant acknowledges that use of the Gateway is at its own risk.
14.2 The Gateway and all related services are provided “as is” and “as available,” without any express, implied, or statutory warranties of any kind, including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, title, accuracy, or non-infringement.
14.3 Without limiting the generality of the foregoing, the bank does not warrant that the Gateway or any associated services will meet the merchant’s requirements or expectations, or that operation will be uninterrupted, timely, secure, or error-free.
14.4 No advice or information, whether oral or written, obtained by the merchant from the bank or its affiliates, officers, employees, or agents shall create any warranty not expressly stated in this agreement.
15.1 The Bank reserves the right to suspend or terminate the Merchant’s access to the Gateway if:
15.1.1 Fraudulent or suspicious activity is detected;
15.1.2 The Merchant violates these Terms or regulatory guidelines;
15.1.3 Required KYC documents are found invalid or expired.
15.2 Either party may terminate this Agreement by giving not less than 30 days’ prior written notice.
15.3 Upon termination, the Merchant shall cease using all Gateway credentials, return and delete any proprietary materials belonging to the Bank.
16.1 Both parties shall maintain confidentiality of all non-public information obtained during the course of the relationship.
16.2 Confidential information shall not be disclosed to any third party without prior written consent, except as required by law.
- The Bank may amend these Terms from time to time to reflect operational, legal, or regulatory changes.
- Continued use of the Gateway after notice of amendment constitutes acceptance of the updated Terms.
- These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
- Any disputes shall be resolved in accordance with the Merchant Payment Processing Agreement.
- If any portion of these Terms of Use is held by any court or tribunal to be invalid or unenforceable, either in whole or in part, then that part shall be severed from these Terms of Use and shall not affect the validity or enforceability of any other part in these Terms of Use.
- By continuing to use the Globus Bank Payment Gateway, the Merchant acknowledges that they have read, understood, and agree to be bound by these Terms of Use.
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© Globus Bank Limited. All rights reserved.
Head Office: Plot 722, Akinbo Savage Street, Victoria Island, Lagos
Website: www.globusbank.com