Terms & Conditions

In these Terms and Conditions, the following definitions apply:

• →"BuySafePay", "we", "us", "our" — refers to BuySafePay Ltd, a company incorporated in Nigeria under the Corporate Affairs Commission (CAC).
• →"Platform" — refers to the website located at buysafepay.com and all related services, APIs, and mobile interfaces.
• →"Student", "you", "applicant", "user" — refers to any individual who accesses or uses the Platform.
• →"Financing" or "Loan" — refers to the deferred payment arrangement extended by BuySafePay to an approved applicant.
• →"Voucher" — refers to the digital code issued to an approved student to purchase a laptop from a BuySafePay partner store.
• →"Repayment Schedule" — refers to the monthly payment plan generated upon approval of a financing application.
• →"Partner Store" — refers to any retail outlet or online store authorised by BuySafePay to accept voucher redemptions.
• →"Principal" — refers to the original loan amount disbursed before interest accrues.

To apply for financing through BuySafePay, you must meet all of the following criteria at the time of application:

• →Be currently enrolled as a full-time or part-time student at an accredited Nigerian university, polytechnic, or college of education.
• →Be at least 18 years of age.
• →Hold a valid, unexpired student ID card from your institution.
• →Possess a valid Nigerian phone number and email address.
• →Not have an existing active or defaulted BuySafePay loan.
• →Not be a Politically Exposed Person (PEP) as defined under Nigerian AML/CFT regulations.

Submitting an application does not guarantee approval. The application process includes:

• →Completion of the online application form at buysafepay.com/apply.
• →Upload of a valid student ID and proof of enrollment.
• →Agreement to a credit and identity verification check, including BVN linkage for loans above ₦100,000.
• →Review by BuySafePay's underwriting team within 48–72 hours.
• →Notification of approval, rejection, or request for further information via SMS and email.

BuySafePay may decline an application without obligation to provide a reason, subject to applicable regulatory requirements. All decisions are final unless successfully appealed through our complaints process.

Upon approval, BuySafePay will extend a financing arrangement subject to the following terms:

• →Interest Rate: A flat annual rate of 7% applied to the principal amount. Interest is not compounded.
• →Loan Amount: Between ₦50,000 and ₦500,000, subject to your approved plan and available funds.
• →Repayment Duration: 3, 4, 5, or 6 months as selected at application.
• →Total Cost of Credit: Disclosed to you in full before you accept the financing offer. The total amount repayable equals: Principal × (1 + 7% × months/12).
• →No Hidden Fees: No processing fee, no origination fee, no prepayment penalty.
• →Late Payment Fee: ₦1,500 per week for each week a repayment is overdue, capped at 10% of the outstanding balance.

By accepting a financing offer, you agree to repay the full amount according to the approved repayment schedule. Specifically:

• →Monthly payments are due on the same calendar date each month as specified in your repayment schedule.
• →Payments are made via the BuySafePay dashboard using a debit card, bank transfer, or any Paystack-supported payment method.
• →You authorise BuySafePay to attempt automatic debit of your registered payment method on the due date.
• →Payments not received within 7 days of the due date are classified as overdue and attract late fees.
• →Accounts 90 days overdue may be referred to a licensed third-party debt recovery agent.
• →You may repay your loan early at any time with no penalty. Early repayment does not attract a discount unless stated in your offer letter.

The BuySafePay voucher is a digital code issued to approved students for the purpose of purchasing a qualifying laptop. The following conditions apply:

• →One voucher is issued per approved application. Vouchers are non-transferable and may not be shared.
• →Vouchers are valid for 90 days from the date of issue. Expired vouchers are void and cannot be reactivated.
• →Vouchers may only be redeemed at BuySafePay-authorised partner stores for the purchase of laptops.
• →Vouchers cannot be converted to cash, credit, or used for any purpose other than laptop purchase.
• →The voucher amount must not exceed your approved loan amount.
• →BuySafePay must receive purchase confirmation from the partner store before the loan is considered disbursed.
• →Any attempt to misuse, duplicate, or fraudulently redeem a voucher will result in immediate account termination and may be reported to law enforcement.

BuySafePay collects, processes, and stores your personal data in accordance with the Nigeria Data Protection Act (NDPA) 2023 and our Privacy Policy, available at buysafepay.com/privacy.

• →By submitting an application, you provide explicit consent to the collection and processing of your personal and financial data for the purpose of credit assessment.
• →Your data will not be sold to third parties. It may be shared with regulated service providers (e.g., Paystack, Supabase, Africa's Talking) for the sole purpose of delivering our service.
• →You have the right to request access to, correction of, or deletion of your personal data at any time by emailing privacy@buysafepay.com.
• →Loan records are retained for 7 years as required by CBN regulations. Identity documents are deleted 2 years after loan closure.
• →Rejected applicants' data is deleted within 90 days unless you opt into marketing communications.

By using the BuySafePay platform, you agree not to:

• →Provide false, misleading, or fraudulent information at any stage of the application or repayment process.
• →Attempt to apply for multiple simultaneous loans using different identities or contact details.
• →Access or attempt to access another user's account or data.
• →Use the platform in any manner that violates applicable Nigerian laws or regulations.
• →Reverse-engineer, scrape, or interfere with the platform's technical infrastructure.
• →Use the voucher for any purpose other than the purchase of a qualifying laptop from an authorised partner.

Violation of these conduct rules may result in immediate termination of your account, cancellation of any active loan offer, and referral to the relevant Nigerian law enforcement authorities.

To the fullest extent permitted by Nigerian law:

• →BuySafePay provides its platform "as is" and makes no warranty that the service will be uninterrupted, error-free, or free of security vulnerabilities.
• →BuySafePay is not liable for any indirect, consequential, or incidental loss arising from your use of the platform, including but not limited to loss of data, lost earnings, or failed transactions.
• →BuySafePay's total liability to you in connection with any claim shall not exceed the principal amount of your active loan.
• →BuySafePay is not responsible for the quality, condition, or suitability of any laptop purchased using a voucher. Disputes regarding product quality must be directed to the partner store.

BuySafePay reserves the right to suspend or terminate your access to the platform and cancel any pending financing offer if:

• →You are found to have provided false information during the application process.
• →You breach any of these Terms and Conditions.
• →Your account shows signs of fraudulent or suspicious activity.
• →You fail to comply with repayment obligations and do not engage with our hardship programme.
• →BuySafePay is required to do so by a regulatory authority or court order.

Termination does not absolve you of any outstanding repayment obligations. All amounts due remain payable in full upon termination.

These Terms and Conditions are governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

• →Step 1 — Internal Resolution: Submit your complaint to complaints@buysafepay.com. We will acknowledge within 24 hours and resolve within 7 business days.
• →Step 2 — FCCPC Escalation: If unresolved, you may escalate to the Federal Competition and Consumer Protection Commission (FCCPC) Consumer Portal at fccpc.gov.ng.
• →Step 3 — Arbitration: Disputes not resolved through the above steps shall be referred to arbitration under the Arbitration and Conciliation Act (ACA) 2023, with proceedings in Lagos, Nigeria.
• →Each party bears its own legal costs unless otherwise ordered by an arbitrator.

BuySafePay reserves the right to update these Terms and Conditions at any time. Changes will be communicated via:

• →An email notification to your registered email address at least 14 days before the changes take effect.
• →A prominent notice on the BuySafePay website.

Your continued use of the platform after the effective date of any changes constitutes your acceptance of the updated terms. If you do not agree to the revised terms, you must stop using the platform and contact us to discuss your outstanding obligations.

For any questions, complaints, or requests related to these Terms and Conditions: