BitscardBitscardBitscard.app Terms of Use
Last Updated: 19 October 2025
Introduction
This Terms of Use document (the “Terms”) constitutes a legally binding agreement between you (“User,” “you,” or “your”) and Bitscard Technologies Limited, operating as Bitscard.app (“Bitscard,” “we,” “us,” or “our”), a Fintech company registered in Nigeria. These Terms govern your access to and use of our services, including (but not limited to): crypto exchange, fiat transfers, provision of local and international USD ACH accounts, buying and selling of gift cards, and the issuance or creation of virtual dollar cards (collectively, the “Services”).
By accessing or using Bitscard.app or any Bitscard products or services, you represent that you have read, understood, and agree to be bound by these Terms and all other referenced policies, including our Privacy Policy. If you do not agree to these Terms, do not access or use the Services.
Be at least 18 years old (or the applicable age of majority in your jurisdiction).
Have full legal capacity and authority to enter into binding agreements under Nigerian law.
Not be barred from using the Services under any applicable law, regulation, or governmental order.
Complete all necessary onboarding, registration, and identity verification procedures (“KYC”) as required under Nigerian law and Bitscard’s operational policies.
The Services are primarily intended for users in Nigeria; by using the Services, you warrant that your access does not violate any applicable laws in your jurisdiction. Certain Services, particularly those involving digital assets and virtual accounts, may not be available in all jurisdictions. We reserve the right to restrict or refuse service to any individual or entity, or from particular jurisdictions, at our sole discretion.
Analysis: The user eligibility requirements reflect both the legal minimum age for contractual capacity and typical fintech risk standards as enforced by Nigerian authorities and global best practices. Regulatory and onboarding requirements around proof of identity (KYC) stem directly from AML/CFT and data protection regulations, setting a clear compliance baseline.
You must create a personal account to access the Services. The registration process will require you to provide accurate, current, and complete information, including your name, date of birth, valid means of identification (e.g., NIN, BVN, international passport, driver’s license), contact information, and such other information as Bitscard may request.
As part of our obligations under the Money Laundering (Prevention & Prohibition) Act 2022 and Central Bank of Nigeria (CBN) regulations, you agree to provide all KYC documentation and consent to electronic verification checks. Bitscard may also conduct ongoing Customer Due Diligence (CDD) and may request additional documentation or information at any time.
You are responsible for maintaining the confidentiality of your login credentials (including passwords and any authentication devices or information) and for all activities that occur under your account. You must notify Bitscard immediately of any unauthorized use, suspected breach, or suspicious activity.
Bitscard will never request your password, PIN, or two-factor authentication code outside official channels. You are advised to enable multi-factor authentication where available.
You warrant that all information provided during account registration or thereafter is accurate, complete, and not misleading. Falsification of identity, provision of fraudulent documents, or attempts to circumvent security controls constitutes a breach of these Terms, and may result in account suspension or closure and reporting to regulatory authorities.
Analysis: Bitscard adopts a risk-based approach in compliance with CBN and SEC rules requiring fintechs to establish robust onboarding, KYC, and ongoing monitoring. The integration of biometrics, BVN/NIN verification, and periodic reassessment aligns with contemporary Nigerian fintech compliance obligations and global AML expectations.
Bitscard offers the following Services subject to regulatory approvals, licensing, and these Terms:
Buying, selling, and holding cryptocurrencies and digital assets as permitted by Nigerian law and CBN/SEC regulations.
All digital asset-related activities are conducted in accordance with the most recent SEC rules and CBN guidelines for Virtual Asset Service Providers (VASPs).
Local and cross-border NGN and USD transfers, including peer-to-peer payments, remittances, and withdrawals from designated accounts.
All transfers are processed in compliance with relevant AML/CFT, CDD, and transactional limit regulations.
Creation of local and international USD-denominated accounts (with US routing and account numbers), suitable for ACH and wire transfers.
These accounts are provided via partnering banks or regulated channels, subject to successful KYC and eligibility verification.
The use of virtual USD accounts must not exceed lawful regulatory use-cases and may be subject to transfer and operational limits.
Facilitation of buying and selling gift cards for approved local and international merchants.
All gift card transactions are subject to fraud screening and anti-money laundering controls.
Issuance and management of reloadable or prepaid virtual dollar cards for secure global online transactions.
Cards are for lawful personal or business use only and are subject to CBN, card network, and international transaction limits.
Bitscard reserves the right to add, modify, suspend, or discontinue any Service (or its features) at any time, with or without prior notice, where necessary for regulatory compliance or service improvement.
Analysis: This detailed breakdown is designed to ensure transparency and comply with required disclosures under the Investments and Securities Act 2025, SEC digital asset regulations, and CBN guidelines. It also enables risk-based controls and product structuring in line with the evolving landscape of Nigerian and global financial regulations.
Conducting legal personal or business financial transactions.
Storing, exchanging, or transferring lawful digital or fiat assets.
Lawful purchase and redemption of gift cards.
Managing USD ACH accounts or virtual cards in accordance with regulatory rules and these Terms.
You are expressly prohibited from using the Services for, or in connection with:
Violating any law, regulation, or directive of Nigeria or any relevant foreign jurisdiction, including but not limited to anti-money laundering, anti-terrorism, fraud, or unauthorized financial activities.
Engaging in or facilitating money laundering, terrorist financing, tax evasion, or other illicit activities.
Attempting to mask the source or destination of funds.
Transacting in virtual currencies in violation of relevant CBN/SEC rules.
Buying or selling counterfeit or fraudulent gift cards, or attempting to defraud other users.
Exploiting service vulnerabilities, engaging in unauthorized access, reverse engineering, denial of service, or any form of cyberattack or abuse of the Bitscard infrastructure.
Harassment or abuse (verbal or non-verbal) of Bitscard staff, partners, or other users.
Other activities as may be designated by Bitscard as prohibited.
If you are found to be using the Services for any prohibited activities, Bitscard may suspend or terminate your account, report offenses to law enforcement authorities, and take such other action as permitted or required by law.
Analysis: Enforcement of permitted/prohibited activities is directly required by CBN, SEC, and global AML frameworks. Clear, specific prohibitions are consistent with industry best practices and comply with FCCPC consumer protection mandates—the explicit mention of cyber, fraud, and abuse risks addresses both regulatory and operational risk vectors.
Bitscard strives to maintain fair and transparent pricing. You agree to pay all applicable fees and charges associated with your use of the Services, as disclosed at the point of transaction or in Bitscard’s current Fee Schedule (available on the website or app).
Crypto exchange transactions (buy/sell/spread/withdrawal fees).
Fiat transfers (inbound/outbound transfer fees, currency conversion fees).
USD ACH/virtual account creation or maintenance.
Gift card purchases or redemptions.
Issuance, maintenance, and usage of virtual dollar cards.
Chargebacks, failed transaction, dispute resolution, or account maintenance.
Any other value-added service or transaction as may be announced.
Fee structures are subject to change in accordance with regulatory requirements and operational costs. Bitscard will use reasonable efforts to provide advance notice of material changes, but reserves the right to amend fees at its sole discretion, subject to applicable laws. Up-to-date fee information will always be accessible prior to completing a transaction.
When converting currencies or performing international transfers, FX rates and other charges may apply, and will be clearly disclosed where practicable.
Analysis: Transparent, pre-disclosed pricing is mandated by the FCCPC and CBN Guide to Charges. Prompt disclosure and real-time updates also align with best practices for user protection and emerging competition/consumer laws in Nigeria. It is essential to display and update fees in the platform, especially for FX-linked or cross-border services.
All content, features, trademarks, copyrights, logos, trade secrets, and other intellectual property associated with Bitscard.app, including software, source code, UI/UX, databases, and documentation, are owned by or licensed to Bitscard or its affiliates or licensors.
You are granted a non-exclusive, non-transferable, revocable license to use the Services for your personal or business (as permitted) purposes in accordance with these Terms.
You may not copy, modify, distribute, display, perform, publish, license, reverse engineer, or create derivative works based on the Services or any content therein.
You may not use Bitscard’s logos or trademarks (in any form) without express authorization.
Where intellectual property is made available by partners (payment networks, banks, third parties), all rights therein remain with the applicable owner.
By submitting any user content (e.g., feedback, reviews), you grant Bitscard a non-exclusive, worldwide, royalty-free right to use, reproduce, modify, adapt, and publish such content in connection with the provision, marketing, or improvement of the Services, subject to applicable privacy laws.
You agree that your use does not infringe the intellectual property rights of others. Upon receiving proper notice of alleged infringement, Bitscard will respond in accordance with applicable law and may remove or disable access to allegedly infringing materials.
Analysis: These clauses follow best practices, the Patents and Designs Act, the Copyright Act, and standards for fintech platforms in protecting core technology, brands, and business models. They also mirror the customary approach taken in leading Nigerian fintech terms and global technology licensing.
Bitscard is committed to safeguarding the privacy and security of your personal data in accordance with the Nigeria Data Protection Act 2023 (NDPA), the Nigerian Data Protection Regulation (NDPR) 2019, and applicable international standards.
You consent to Bitscard collecting, processing, storing, retaining, and sharing your personal data (including but not limited to KYC documents, transactional records, device and usage data) for the purposes of:
Providing and improving the Services.
Complying with legal/regulatory mandates (AML, CFT, reporting).
Fraud detection, account security, and risk management.
Marketing, analytics, and service personalization (only as permitted by law).
Bitscard may share data with third-party service providers (e.g., banks, card issuers, compliance vendors) as required to deliver the Services, subject to appropriate safeguards. Where data is transferred outside Nigeria, such transfers will be carried out in accordance with the NDPA, NDPR, and applicable adequacy frameworks.
You have certain rights with respect to your personal data, including the right to access, rectify, or erase your data; object to or restrict processing; data portability; and the right to lodge complaints with the Nigerian Data Protection Commission (NDPC).
Bitscard implements appropriate technical and organizational measures to protect your data from unauthorized access, disclosure, alteration, or destruction. Regular audits and compliance reviews are conducted as required by NDPA, NDPR, and sector-specific standards (e.g., PCI DSS).
Analysis: Data protection and user privacy have become strategic compliance issues in Nigeria with the enactment of the NDPA. Mandatory registration, DPO appointments, and strong user rights/consents underpin the approach. Failure to comply attracts regulatory penalties and reputational damage.
Bitscard operates under the regulatory oversight of the CBN, SEC, NDPC, and other relevant authorities. You agree and acknowledge:
AML/CFT/KYC policies are in place in line with CBN and Money Laundering (Prohibition) Act 2022 requirements.
Customer verification may involve checks against global sanctions lists, Politically Exposed Person (PEP) databases, and adverse media screening.
Ongoing monitoring and reporting of suspicious or unusual transactions are mandatory; suspicious activity may trigger reporting to the NFIU and regulatory or law enforcement authorities, as legally required.
You warrant that the source of all funds or assets transacted via Bitscard is lawful and not derived from or related to crime, fraud, or any other unlawful activity.
Bitscard reserves the right to request additional information, impose transaction limits, suspend or close accounts, or decline specific activities based on its risk assessment, and/or in compliance with Nigerian and international laws.
Analysis: These AML/CFT frameworks respond to Nigeria’s FATF grey list status and rising fintech-related fraud and compliance risks. Bitscard’s procedures for onboarding, monitoring, reporting, and periodic review are directly aligned with statutory and international best practices.
The Services are provided on an “as is” and “as available” basis. Bitscard does not guarantee that the Services will always be secure, uninterrupted, error-free, or free from viruses or other harmful components. Your use is at your own risk.
Nothing in the Services or these Terms constitutes, or should be construed as, legal, tax, investment, or financial advice. You use all features at your own risk and are solely responsible for any decisions made using the Services.
To the maximum extent permitted by law, Bitscard disclaims all warranties, express or implied, including merchantability, fitness for a particular purpose, title, non-infringement, or that the Services will meet your requirements.
While Bitscard provides integrations or access to third-party providers (banks, payment processors, card networks), it is not responsible for the acts, errors, or omissions of such third parties.
Analysis: Standard “as is” disclaimers protect the company and reflect market risk, regulatory change, and operational realities, particularly pronounced in Nigeria’s volatile, fast-evolving fintech sector. These clauses align with prevailing practices from established fintech and digital payments providers.
To the fullest extent permitted by law, Bitscard, its affiliates, officers, directors, employees, agents, or service providers will not be liable for any:
Direct, indirect, incidental, special, punitive, or consequential damages.
Damages for lost profits, data, business interruption, or other intangible losses arising from or related to the use or inability to use the Services.
This applies even if Bitscard has been advised of the possibility of such damages.
Where liability cannot be excluded by law, Bitscard’s total aggregate liability arising out of (or relating to) the Services or these Terms shall not exceed the greater of: (a) the total fees you paid to Bitscard in the twelve (12) months preceding the claim; or (b) NGN 100,000.
The above limitations may not apply to you in jurisdictions where such disclaimers or exclusions of liability are not permitted by law, but will apply to the maximum extent permitted therein.
Analysis: These clauses are customary and consistent with CBN, SEC, and global industry standards, providing legal certainty for Bitscard and operationalizing the “user at risk” principle for digital and financial service platforms.
Before commencing formal proceedings, you agree to first attempt to resolve any dispute, claim, or controversy relating to these Terms or the Services by contacting Bitscard customer support and working in good faith towards a solution.
Any unresolved dispute, claim, or controversy arising out of or in connection with the Services or these Terms—including issues regarding their existence, validity, interpretation, or termination—shall be referred to and finally resolved by arbitration in accordance with the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria, as amended. The arbitration shall be conducted in Lagos, Nigeria, in English, by a single arbitrator jointly appointed by the parties with expertise in fintech and technology law. The arbitral award shall be final and binding.
Nothing in this section shall preclude either party from seeking injunctive relief or other urgent remedies from a Nigerian court of competent jurisdiction to prevent irreparable harm, misuse, or unauthorized disclosure of confidential or intellectual property.
Analysis: Arbitration as a primary dispute resolution mechanism is standard in Nigerian and global fintech contracts; it offers privacy and technical expertise in settlement. The provision for urgent injunctive relief recognizes areas where immediate judicial intervention may be essential.
These Terms and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with them or the Services shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without regard to conflict of law provisions.
Analysis: Specifying Nigerian law ensures consistency, legal predictability, and alignment with regulatory approvals, as required for all fintech entities operating in the country.
You may close your account at any time by following the closure procedures on the Bitscard platform, settling all outstanding transactions, and paying any fees or charges due. Closing your account does not relieve you of responsibility for prior obligations (e.g., fees owed, disputed transactions) or regulatory compliance.
Bitscard reserves the right to suspend, restrict, or terminate your access to the Services at any time, without notice or liability, including (but not limited to) where:
Regulatory, legal, or compliance concerns arise (e.g., suspected fraud, AML/KYC non-compliance).
You breach these Terms or other Bitscard policies.
Your use of the Services violates any applicable law.
The provision of Services becomes unlawful, impracticable, or subject to force majeure.
Upon termination, your right to use the Services will immediately cease, but provisions relating to fees owed, liability, indemnity, dispute resolution, and any other clause which by its nature should survive will remain in effect.
Bitscard will process any remaining balances or assets in accordance with applicable law, regulatory reporting, or government directives. Bitscard may retain information as required for legal, regulatory, data protection, or fraud prevention purposes.
Nothing herein excludes your right to seek redress in the event of wrongful, unlawful, or discriminatory termination arising solely from Bitscard’s breach of these Terms or willful misconduct, subject to applicable Nigerian law.
Analysis: The termination clause balances regulatory compliance, user autonomy, and fair notice. Nigerian law—via judicial precedent and current contract doctrines—emphasizes explicit description of express, implied, and force majeure termination rights for contracts to be considered valid by courts.
Bitscard is committed to the principles of transparency, fairness, and accountability, as set by the Federal Competition and Consumer Protection Commission (FCCPC). All customer complaints will be tracked, investigated, and resolved promptly in accordance with the FCCPA 2018 and the CBN Consumer Complaints Management guidelines.
Complaints can be lodged via the Bitscard website/app support portal, by email, or telephone, and should contain adequate details to facilitate investigation.
If not resolved satisfactorily within 30 days, complaints may be escalated to the FCCPC and/or the CBN Consumer Protection Department via their complaint portal or official channels. You have a right to receive updates and a formal resolution notice.
Bitscard will comply with CBN and FCCPC regulations regarding prompt reversal or refund of unauthorized, disputed, or failed transactions, typically within 48 hours for bank-initiated errors, and as soon as practicable otherwise.
Bitscard may amend these Terms from time to time to comply with regulatory changes, improve service, or correct errors. Where material changes are made, we will use reasonable efforts to notify you (e.g., via email, SMS, or app notification) at least seven (7) days prior to the effective date. Your continued use after notice constitutes acceptance.
You may not assign or transfer your rights or obligations under these Terms without Bitscard’s prior written consent. Bitscard may assign rights and obligations without restriction, except as prohibited by law.
If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will remain valid and enforceable to the fullest extent permitted by law.
These Terms, together with the Privacy Policy and any supplemental terms or guidelines, constitute the entire agreement between you and Bitscard regarding the Services and supersede any prior agreements.
No waiver of any breach or default of these Terms shall be deemed a waiver of any other breach or default. Bitscard’s delay or failure to enforce any provision does not constitute a waiver.
Bitscard Technologies LimitedRegistered Office:18 Admiralty way, lekki, LagosCustomer Support: support@bitscard.appFor Regulatory Complaints (FCCPC): complaints.fccpc.gov.ng
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