The Pretium App (the “Service”) is provided by the Pretium (hereinafter referred to as “we”, “us”, “our”, or “Pretium”") through our website (https://pretium.africa/), the “Website”). By accessing, using or attempting to use the Service, you acknowledge being legally bound by these Terms and Conditions as well as the Pretium Privacy Policy and other policies published on our Website (together, this “Agreement”). This Agreement is made between you (“you”, “your”, or “User”) and Pretium.
The Service is one of the services offered by Pretium, and therefore the Pretium Privacy Policy and other published policies apply to the use of the Service, unless otherwise specified herein. These Terms set out additional terms and conditions for users of the Service. In the event of any inconsistency, conflict or ambiguity as to the rights and obligations of the parties, these Terms of Use shall supersede any of the terms of the Privacy Policy or other published policies.
Pretium enables its users to use stablecoins for their everyday financial transactions just as they would do with local or fiat currencies. With Pretium, users are able to use digital assets to conduct merchant and bill payments as they would do with fiat.
3.1 You must meet our eligibility criteria to sign up for an account and use the Service. This means that you must:
3.1.1 be at least 18 years of age;
3.1.2 satisfy all our KYC (Know-Your-Customer) and AML (Anti-Money Laundering) requirements;
3.1.3 not be sanctioned by the US, UK or EU as an individual; and
3.1.4 not be a resident or a citizen of any country under the US, UK or EU sanctions lists (the “Eligibility Criteria”).
4.1 You must sign up for an account with your email address to use the Service. We will provide you with a Blockchain wallet that can hold digital assets.
4.2 Your account allows you to conduct merchant and bill payments using digital assets.
4.3 All activities carried out from your account are deemed to be activities carried out by you personally. You must not intentionally or negligently grant any third party access to your account, and we are not liable for any loss you may incur as a result of a third party gaining access to your account. You must check your account regularly and carefully and contact us immediately if you do not recognise a transaction or believe we have made a payment incorrectly.
4.4 Your merchant and bill payments are recorded in the Recent Transactions section of your account, which can be accessed when logging in to your account. We allocate a Transaction ID to each transaction, and you should quote this Transaction ID when communicating with us about a particular transaction.
5.1 In the course of signing up for an account and making payments with us, we may collect and use certain personally identifiable information (“PII”) provided by you, including, but not limited to, your name, your phone number or biller and/or merchant phone number or bank account number and your email address
5.2 We are committed to protecting your PII and to taking all reasonable precautions for maintaining the confidentiality thereof. Please refer to our Privacy Policy for further details. By creating an account, you consent to our use of your PII to provide our services to you, including for administrative, marketing and customer support purposes.
6.1 Paying for Merchant and Bill Payments Services
6.1.1 You must select the type and amount of digital assets you want to use to conduct merchant payments and bill payments. We will provide you with the conversion rate and fees before you proceed with a transaction. Once we confirm receipt of your digital assets, we will pay the fiat currency (less any fees) into the merchant or biller mobile money or bank account, the details of which you will provide to us.
6.1.2 It is your sole responsibility to ensure that (a) You input the correct amount of fiat currency that you want to pay (b) The biller or merchant mobile money or bank account details are accurate. Once we make a payment to the biller or merchant mobile money or bank account, the payment cannot be refunded, and we are not liable for any errors made by you when providing us with the details of your mobile money or bank account.
6.3 Settlement accounts
6.3.1 You are solely responsible for ensuring the accuracy of the details provided to us in connection with the biller or merchant mobile money account or bank account. We are not liable for any transfers of fiat currency or digital assets not made or incorrectly made if you have made any errors when providing to us and confirming the details of your mobile money account or bank account.
6.3.2 Your Blockchain wallet must be in your name and under your sole legal and beneficial ownership and complete control. You represent, warrant, undertake and attest to us that you are the sole legal and beneficial owner and have complete control of the Blockchain wallet you provide to us in connection with your use of the Service, and that no third party has access to or control over your Blockchain wallet. In the case of you conducting merchant and bill payments, you further represent, warrant, undertake and attest to us that you own and have complete control of all digital assets within your Blockchain wallet used to make bill and merchant payments. You agree that you are liable for and agree to indemnify us against any and all costs and expenses incurred by us (including, without limitation, fines and penalties as well as reasonable attorneys’ fees) as a result of any representation, warranty, undertaking or attestation in this paragraph being incorrect, and, in such case, we may ban your account and take further actions against you.
7.1 Exchange rate. The value of the digital asset will be converted to fiat currency at an exchange rate set by us (the "Exchange Rate"). We use a number of sources to determine the Exchange Rate applicable to the purchase or sale of digital assets. You agree to accept our Exchange Rate as the sole pricing metric in using the Service.
7.2 Payment method. Not all payment methods may be available in your jurisdiction. The available payment method(s) are indicated on the Pretium Mobile App at the time of initiating a transaction. You are able to confirm the payment methods available in your jurisdiction before proceeding with a transaction.
7.3 Transaction completion. A merchant or bill payment is deemed completed once we transfer the fiat currency to the merchant or biller mobile money account or bank account. When a payment is deemed completed, we have no further liability or obligation to you whatsoever.
7.4 Incorrect information. You acknowledge and agree that Blockchain transactions, when completed, are irreversible. It is your sole responsibility to ensure that all information shared with us is complete and accurate, as we are not liable for any loss you may incur as a result of furnishing us with incorrect or incomplete information.
7.5 Third-party service providers. We use third-party payment processors to settle your transactions, and we do not assume (and expressly disclaim) any responsibility or liability for any delays or errors made by any such third-party service providers. We also do not assume (and expressly disclaim) any responsibility or liability for any restrictions or limits set by your Blockchain wallet provider(s) or any other third-party wallet provider(s).
7.6 Transaction limits. At our sole discretion, your payments may be subject to transaction and volume limits while using the Service, and we reserve the right to change any of these limits from time to time, again at our sole discretion. We may review and, should we so determine at our discretion, increase such limits if you meet our requirements for an upgrade, although there is no obligation for us to do so.
7.7 Tax. You are responsible for any and all taxes of any nature whatsoever that may apply to payments you make or receive or transactions you undertake. It is your sole responsibility to report and pay any such taxes to the appropriate tax authorities.
7.8 Unauthorized access. You must inform us immediately if you suspect or discover unauthorized access to your account, PII or other data, by email to hello@pretium.africa. We are not liable for any loss you may incur as a result of unauthorized access to your account. This includes, but is not limited to, where you intentionally or negligently provide access to your account to a third party.
8.1 You undertake not to;
8.1.1 use the Service for anything unlawful, criminal, harmful or fraudulent,
8.1.2 access, store, distribute or transmit viruses, malicious code or other harmful technologies,
8.1.3 expropriate data or do anything that infringes the intellectual property rights of a third party,
8.1.4 reverse engineer, copy, modify, data scape, automate or re-sell any part of the Service,
8.1.5 use someone else’s email address to access the Service or allow anyone else to access the Service using your email address,
8.1.6 use any automated system to send more request messages to our servers than a human can reasonably produce in the same period or put an unreasonably large load on our infrastructure, and
9.2 Where we cannot complete your transaction, we will let you know, if possible, the reasons for the cancellation and an explanation of how to correct any factual errors. However, We will not notify you if such notification would be unlawful. We will refund your digital assets payment to your wallet address, as long as we are permitted to do so under applicable laws.
10.1 You represent to us that:
10.1.1 you meet our eligibility criteria,
10.1.2 all information you will provide to us are true, correct and complete,
10.1.3 you ensure full compliance with relevant laws and regulations while trading with us,
10.1.4 you are the lawful owner of any payment account and wallet you are transferring to and from,
10.1.5 you shall not, directly or indirectly, engage in any activity that would make us to violate any laws, rules, and regulations applicable to you and us, including but not limited to (i) any applicable laws designed to fight the funding of terrorism and money laundering (including but not limited to the anti-money laundering and anti-terrorism laws, rules), and (ii) economic sanctions programs of the United States, United Nations, European Union, United Kingdom, or of any other country.
You agree to indemnify and hold harmless our company, including its shareholders, subsidiaries, affiliates, and their respective directors, officers, employees, agents, and representatives, from any and all losses, liabilities, claims, demands, judgments, or expenses (including reasonable attorneys' fees) that arise from or relate to your use of our services or any breach of this Agreement.
12.1 Unless applicable law requires otherwise, for every default or breach of contract by us, your exclusive and maximum remedy against us is a refund of the digital asset. No other remedy is available to you, including, but not limited to, any remedy for incidental, indirect, special or consequential damages. These limitations apply whether your claim arises due to our negligence, other faults, errors, omissions, or non-performance. We accept no responsibility for the acts or omissions of any third party.
12.2 We shall not be liable to you (a) for any delays or mistakes, or any claims, losses, or damages, resulting from any circumstances beyond our control, including, without limitation, acts of governmental authorities, national emergencies, insurrection, war, or riots; (b) for any claims, losses, or damages resulting from your failure to comply with these terms, communication system failures, or malfunctions attributable to your device, any internet service, or any payment system; (c) if you did not provide us with correct, complete or timely information.
12.3 You expressly agree and understand that the service is provided on an “as is” and “as available” basis. We expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
13.1 You have the right to end this Agreement and close your account at any time by contacting hello@pretium.africa. You must not close your account to avoid an investigation. You agree that you will continue to be solely responsible for all obligations related to your account even after it is banned or permanently closed.
13.2 We may end this Agreement and close your account by giving you reasonable prior notice. We may also ban or close your account without notice in certain circumstances if:
13.2.1 you breach any provision of this Agreement.
13.2.2 We are requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency.
13.2.3 We have reason to believe you are in breach of any applicable law or regulation.
13.2.4 We have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal or illegal activity.
13.2.4 We suspect a security breach or unauthorized or fraudulent use.
14.1 Contact. Please contact hello@pretium.africa or open a support ticket on the Pretium telegram channel with any feedback, questions, or complaints relating to Pretium Site & Services.
14.2 Waiver of Class Action. Disputes arising under this Agreement will be settled in binding arbitration. You and Pretium hereby expressly waive trial by jury and the right to participate in a class action lawsuit or class-wide arbitration. The prevailing party in the proceeding is entitled to reasonable costs and attorneys' fees.
Digital assets are speculative investments and involve a substantial degree of personal risk. The value of a digital asset can quickly increase or decrease at any time, and it may even fall to zero. This means there is the risk of complete loss of capital with no legal recourse. There can be no assurance that any digital asset is or will be viable, liquid, or solvent. You agree and accept the risks associated with buying and selling digital assets through our Service including any risks associated with fluctuations in the relevant exchange rates over time and partner platform. You agree that you will not use our Service for speculative trading. We do not offer financial advice, if you think you need financial advice at any time we recommend that you contact your lawyer or financial advisor before proceeding further.
We are delighted to receive your feedback, suggestions, or inquiries. Our customer support operates around the clock to address any input from our valued partners.