OLIVE PAYMENT SOLUTIONS LIMITED

MERCHANT (POS) APPLICATION FORM

Effective Date: 9/3/2025

AGREEMENT AND ACKNOWLEDGMENT

By using OlivePay's POS system, you, the Merchant, agree to comply with these Terms and Conditions. Please read carefully, as these terms form a binding legal agreement between you and OlivePay.

DEFINITIONS

• Merchant: Any individual or entity that registers to use OlivePay's POS system for the sale of goods or services.
• Platform: The Point of Sale (POS) platform operated by OlivePay for conducting transactions.
• Customer: Any individual purchasing goods or services from the Merchant using the Platform.
• OlivePay: Refers to Olive Payment Solution Limited.

USE OF POS SYSTEM

Transaction Processing: The Platform may be used solely for lawful transactions, in compliance with all applicable regulations.

REGISTRATION AND ACCOUNT MANAGEMENT

• Eligibility: Merchants must be at least 18 years of age and possess the legal authority to operate a business.
• Account Creation: Merchants must provide accurate and complete information during the account setup process.
• Account Responsibility: Merchants are responsible for maintaining the security of their account credentials and are liable for all activities under their account.
• Account Updates: Merchants agree to keep their account information updated, including contact information, business location, and banking information for pay-outs.
• Product Listing: Merchants agree to provide accurate product descriptions, pricing, and other details. Misrepresentation of products is prohibited.
• Payments: All transactions processed through the Platform are subject to OlivePay's processing fees, which may vary based on payment type.
• Refunds and Cancellations: Merchants must comply with OlivePay's refund policies and make customers aware of any return or refund terms applicable to their purchase.

FEES AND PAYMENTS

• Service Fees: Merchants agree to pay any applicable fees for use of the Platform, which will be deducted from transaction proceeds.
• Disbursement: Payments will be disbursed to the Merchant's registered bank account within a specified period, subject to processing times.
• Chargebacks: Merchants are responsible for handling any chargebacks, disputes, or fraud claims arising from transactions on the Platform.

DATA PRIVACY AND SECURITY

• Data Collection: OlivePay may collect certain data from Merchants and Customers to facilitate transactions, subject to the OlivePay Privacy Policy.
• Data Security: Merchants are required to safeguard Customer data and must not engage in unauthorized data sharing or misuse.
• Compliance: Merchants must comply with applicable data protection laws.

PROHIBITED ACTIVITIES

• Restricted Products: Merchants may not sell items prohibited by law or that violate OlivePay policies.
• Fraud and Misconduct: Fraudulent activity, misrepresentation, or abuse of the Platform is prohibited and may result in account termination.
• Intellectual Property: Merchants may not infringe upon any intellectual property rights in their use of the Platform.

TERMINATION AND SUSPENSION

• Termination by Merchant: Merchants may terminate their account by providing OlivePay with written notice.
• Termination by OlivePay: OlivePay reserves the right to suspend or terminate a Merchant's account for violation of these Terms or any fraudulent, harmful, or illegal activity.
• Effect of Termination: Upon termination, the Merchant will lose access to the Platform, and any outstanding payments due will be processed in accordance with the terms.

LIMITATION OF LIABILITY

• Disclaimer: OlivePay makes no guarantees about the performance, security, or reliability of the platform.
• Liability Cap: OlivePay's liability to the Merchant is limited to the fees paid by the Merchant to OlivePay in the 12 months preceding the claim.
• Indemnification: The Merchant agrees to indemnify OlivePay against any claims, damages, or expenses arising from the Merchant's use of the Platform.

GOVERNING LAW AND DISPUTE RESOLUTION

• Governing Law: These Terms are governed by the laws of Nigeria.
• Dispute Resolution: Any disputes arising from or related to these Terms will be resolved through arbitration in Lagos, Nigeria.

MODIFICATION TO TERMS

• Updates: OlivePay reserves the right to modify these terms at any time. Merchants will be notified of significant changes.
• Continued Use: Continued use of the Platform after changes to the Terms constitutes acceptance of the new terms.

CONTACT INFORMATION

For any questions regarding these Terms, please contact OlivePay at:

• Email: support@olivepayment.com
• Phone: 02013303200
• Address: 150 Awolowo Road Ikeja, Lagos