Terms of Service

1. Acceptance of Terms

These Terms of Service constitute a legally binding agreement between you and VecoXL regarding your use of our platform and related services. By registering an account, accessing, or utilizing any feature of the platform, you acknowledge that you have read, understood, and agreed to be bound by these Terms.

2. Definitions

• "Platform" refers to the VecoXL web and mobile applications, APIs, and underlying infrastructure.
• "Beneficiary" refers to any individual receiving airtime, funds, or digital assets disbursed through the platform.
• "Reserved Account" refers to a dedicated virtual bank account number provisioned by our partner banks for wallet funding.
• "Services" refers to all current and future financial, distribution, and telecommunications products offered by VecoXL.

3. About VecoXL

VecoXL provides a digital platform that currently facilitates bulk airtime distribution. The infrastructure is designed to seamlessly scale into a comprehensive digital giveaway and payment ecosystem. This includes, but is not limited to, the provision of digital wallets, reserved accounts, money distribution tools, beneficiary management, and digital disbursements.

4. Eligibility

To utilize our Services, you must be at least 18 years of age or possess legal corporate authority to bind an entity to these Terms. You represent that you are not barred from receiving financial services under the laws of your applicable jurisdiction.

5. Account Registration

Access to the platform requires the creation of an account. During registration, you are required to provide accurate information, specifically your legal first name, last name, primary email address, mobile phone number, and a secure password. You agree to keep this information updated to maintain platform access.

6. User Responsibilities

You bear sole responsibility for safeguarding your account credentials. You must ensure that all data inputs, including Excel files containing beneficiary phone numbers and airtime values, are accurate prior to submission. VecoXL is not liable for financial loss resulting from compromised credentials or inaccurate beneficiary data uploaded by you.

7. Identity Verification (KYC)

To access enhanced financial features, users must complete Level One KYC requirements. This entails the submission of your middle name, date of birth, Bank Verification Number (BVN), alternative email address, and alternative phone number. Additional verification tiers may be required as future financial products are deployed.

8. BVN Usage

We process your BVN under strict operational parameters. It is exclusively utilized for:

• Identity verification.
• Fraud prevention and anomaly detection.
• Regulatory compliance reporting.
• Generating reserved account numbers through our licensed banking partners.

Crucially, your BVN will NEVER be utilized for lending determinations, credit scoring, or to initiate unauthorized debits from your external bank accounts.

9. Wallets & Reserved Accounts

The platform encompasses digital wallet infrastructure. Upon successful KYC completion, users may be allocated a reserved account number provided by our licensed banking partners. These accounts are strictly for the purpose of receiving funds into your VecoXL wallet to execute platform transactions and campaigns.

10. Bulk Airtime Purchases

The core utility of the platform relies on bulk processing. Users must upload beneficiary data via formatted Excel files. The platform automatically validates the spreadsheet for structural integrity. Upon successful validation and corresponding payment execution, VecoXL immediately processes the disbursement through telco aggregators.

11. Giveaway Services

VecoXL facilitates the creation and execution of structured digital giveaway campaigns. When deploying a campaign, you act as the distributor and bear full responsibility for the legitimacy of the giveaway and adherence to local promotional regulations. The platform merely acts as the execution layer for distributing money or airtime to your stipulated beneficiaries.

12. Payments & Fees

You agree to pay all fees associated with your utilization of the Services. Transaction fees, processing charges, and applicable taxes will be explicitly displayed prior to payment authorization. Funding a wallet or executing a bulk purchase constitutes your authorization for VecoXL to deduct the stipulated total amount.

13. Refund Policy

Due to the instantaneous nature of telecommunication APIs, successfully delivered airtime and processed digital disbursements cannot be reversed, recalled, or refunded. Refunds are exclusively issued in instances of verified system failures where a payment was captured but the platform failed to initiate the corresponding disbursement.

14. Transaction Limits

VecoXL enforces transaction thresholds based on your current KYC verification tier. These limits dictate the maximum daily and monthly volume of wallet funding, bulk purchases, and campaign disbursements. We reserve the right to modify these thresholds to comply with risk management protocols.

15. Prohibited Activities

You are strictly prohibited from utilizing the platform to process transactions related to illicit narcotics, unauthorized gambling, terrorism financing, circumventing sanctions, or any activity that violates local statutes. Furthermore, utilizing automated scripts to scrape or maliciously interact with the platform architecture is forbidden.

16. Fraud & AML Compliance

We operate robust Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) monitoring systems. We maintain the statutory right to flag, investigate, and report suspicious transactional behavior to relevant law enforcement and financial intelligence agencies without prior notification to you.

17. Suspension & Termination

VecoXL reserves the unilateral right to suspend, freeze, or permanently terminate your account if we determine a breach of these Terms, detection of fraudulent activity, or upon mandate by a regulatory authority. Any residual funds in a suspended account remain subject to internal investigation.

18. Intellectual Property

All source code, UI/UX designs, trademarks, logos, and proprietary algorithms within the platform remain the exclusive intellectual property of VecoXL. You are granted a limited, non-transferable license to access the platform solely for its intended transactional purposes.

19. Third Party Providers

Our execution of Services relies heavily on third-party telecommunication networks, banking infrastructure, and payment gateways. We do not exercise operational control over these entities and cannot guarantee their uninterrupted performance.

20. Electronic Communications

By utilizing the platform, you consent to receive all operational notices, legal disclosures, and promotional materials electronically via the email address registered to your account or through in-app notifications.

21. Privacy

The collection, storage, and processing of your personal and beneficiary data are governed by our Privacy Policy. By agreeing to these Terms, you also acknowledge and consent to the data practices outlined in that document.

22. Service Availability

We strive to maintain continuous platform uptime; however, access may be temporarily suspended for scheduled maintenance, infrastructure upgrades, or emergency patching. We will endeavor to provide reasonable advance notice for planned downtime.

23. Disclaimer of Warranties

The Services are provided on an "as is" and "as available" basis. VecoXL explicitly disclaims any implied warranties of merchantability, fitness for a particular purpose, or non-infringement. We do not warrant that the platform will operate completely error-free.

24. Limitation of Liability

To the maximum extent permitted by applicable law, VecoXL shall not be liable for any indirect, incidental, consequential, or punitive damages arising from your use of the platform. Our aggregate liability for any direct claims shall not exceed the total fees paid by you to VecoXL in the three (3) months preceding the incident.

25. Indemnification

You agree to indemnify, defend, and hold harmless VecoXL, its directors, employees, and banking partners from any claims, regulatory fines, or legal expenses resulting from your violation of these Terms, your execution of unlawful campaigns, or your infringement of third-party rights.

26. Changes to the Service

We reserve the right to iterate, expand, or deprecate features within the platform at our discretion. This includes the future rollout of expanded digital payment features, which will be integrated directly into this operational framework.

27. Changes to these Terms

VecoXL may amend these Terms periodically to reflect regulatory shifts or structural product changes. We will notify you of material changes via email. Your continued utilization of the platform following the effective date of an update constitutes binding acceptance of the revised Terms.

28. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any disputes arising from this agreement shall be subject to the exclusive jurisdiction of the competent courts located in Lagos, Nigeria.

29. Contact Information

For legal inquiries, dispute resolution, or detailed platform support, direct all correspondence to our compliance and support teams at hello@vecoxl.com.