Back to Home

Terms of Service

Effective: March 2026 · Version 1.0 · Nigeria & Canada

Please read these Terms of Service carefully before using SlasPay. By accessing or using the platform, you confirm that you have read, understood, and agree to be bound by these terms. If you do not agree, please do not use SlasPay.

1. Acceptance of Terms

These Terms constitute a legally binding agreement between you and Slas Technologies Limited (“SlasTech”), incorporated under Nigerian law with offices in Lagos, Nigeria, and a branch in Barrie, Ontario, Canada. By creating an account or using SlasPay, you agree to these Terms and our Privacy Policy. If you use SlasPay on behalf of an organisation, you warrant that you have authority to bind that entity to these Terms.

2. Description of Services

SlasPay provides digital payment and wallet services including: NGN, CAD, and USD multi-currency digital wallets; domestic and cross-border money transfers; currency exchange at disclosed rates; local payment processing via Paystack (Nigeria) and Interac e-Transfer (Canada); international card processing via Stripe; Stellar blockchain-powered settlement infrastructure; secure escrow services for SlasProp property transactions; and payment APIs for business and institutional partners.

SlasPay is a technology payment platform. We are not a licensed bank, credit union, or deposit-taking institution. Wallet balances are not covered by CDIC or NDIC deposit insurance. We do not provide financial, investment, tax, or legal advice.

3. Eligibility & Account Registration

You must be at least 18 years of age and legally capable of entering contracts in your jurisdiction to use SlasPay. You agree to provide accurate registration information, keep your account credentials secure, and not share access to your account. You must complete KYC verification before accessing full transaction capabilities. Business accounts require additional verification. Notify us immediately at security@slaspay.com of any unauthorised access to your account.

4. KYC / AML Compliance

SlasPay operates under anti-money laundering obligations in both Nigeria (Money Laundering Prohibition Act, CBN regulations) and Canada (Proceeds of Crime Money Laundering and Terrorist Financing Act, FINTRAC). We are required to verify your identity, monitor transactions, and report qualifying transactions to FINTRAC and the NFIU. We may request additional documentation at any time to satisfy our compliance obligations. Providing false KYC information is a criminal offence and will result in immediate account termination and referral to law enforcement.

5. Wallets and Balances

Your SlasPay wallet balance represents funds held on your behalf in segregated accounts separate from SlasTech operational funds. SlasTech does not lend, invest, or otherwise use your wallet balance for its own account. Your wallet balance is not a bank deposit and does not earn interest. You may withdraw your balance to a verified external bank account at any time subject to applicable limits and withdrawal processing times. SlasTech reserves the right to place a hold on funds suspected of being linked to fraudulent activity or regulatory investigation.

6. Transactions

By initiating a transaction, you authorise SlasPay to debit your wallet and execute the transfer in accordance with the details you have provided. Transactions confirmed by you are final and cannot be reversed, except as expressly provided in Section 9 (Disputes). You are solely responsible for the accuracy of recipient details. SlasPay is not liable for funds sent to an incorrect recipient due to user error. Transaction fees are deducted at the time of execution and are non-refundable except as required by law.

7. Transaction Limits

Transaction limits are determined by your KYC tier, account age, and transaction history. Standard limits: NGN daily send ₦2,000,000; CAD daily send CA$5,000. Enhanced KYC and business accounts have higher limits. We may adjust limits at any time for security or compliance reasons. Attempting to circumvent limits through multiple accounts or structured transactions constitutes a violation of these Terms and applicable AML law.

8. Currency Exchange

Currency exchange rates are sourced from real-time market feeds with a transparent spread disclosed before every transaction. The rate displayed is locked for 30 seconds while you confirm. Once confirmed, the exchange executes at the displayed rate. SlasPay is not liable for exchange rate movements between the time you initiate and the time you confirm a transaction.

9. Disputes & Chargebacks

If you believe a transaction was executed in error or without your authorisation, contact support@slaspay.com within 30 days. We will investigate and respond within 10 business days. For SlasPay-to-SlasPay transfers, recovery depends on the recipient's cooperation. For external bank withdrawals, we will work with our banking partners on a best-effort recall. Chargebacks initiated through Paystack or Stripe for legitimate SlasPay transactions without first contacting us constitute a breach of these Terms.

10. Prohibited Conduct

You must not use SlasPay to:

  • Launder money, finance terrorism, or engage in any financial crime
  • Circumvent sanctions lists (OFAC, UN, Nigerian sanctions)
  • Process payments for prohibited goods or services under applicable law
  • Evade transaction limits through structuring or multiple accounts
  • Use another person's account or provide false identity information
  • Attempt unauthorised access to any part of the platform, servers, or databases
  • Introduce malware, automated bots, or scripts without written consent
  • Scrape, harvest, or reverse-engineer the platform or its APIs
  • Violate any applicable law, regulation, or financial compliance requirement

Violations may result in immediate account suspension, permanent ban, forfeiture of applicable funds to regulatory authorities, recovery of damages, and referral to law enforcement.

11. Intellectual Property

All platform intellectual property — software, algorithms, branding (SlasPay, SlasTech, SFXIM), database structures, APIs, and documentation — is owned by SlasTech. You receive a limited, non-exclusive, revocable licence to use SlasPay for its intended purposes. You may not copy, reverse-engineer, scrape, or create derivative works from the platform.

12. Data Protection & Privacy

We process your data under the Nigeria Data Protection Act 2023 (NDPA), the Nigeria Data Protection Regulation (NDPR) 2019, and Canadian PIPEDA, as applicable. Your data is stored in AWS Canada (ca-central-1). We do not sell your data. See our full Privacy Policy.

13. Disclaimers & Limitation of Liability

The platform is provided “as is” without warranties of any kind. SlasPay does not guarantee uninterrupted service, specific exchange rates, or specific transaction processing times. SlasTech's total aggregate liability for any claim shall not exceed the greater of: (a) the total fees paid by you in the preceding 12 months, or (b) USD 100 equivalent in the applicable currency. SlasTech is not liable for indirect, incidental, special, consequential, or punitive damages, including losses arising from exchange rate movements, banking partner failures, blockchain network congestion, or regulatory actions outside our control.

14. Indemnification

You agree to defend, indemnify, and hold harmless SlasTech and its officers, employees, and agents from any claims, damages, and costs arising from: your use of SlasPay; your breach of these Terms; your violation of applicable law; your provision of false information; or any transaction you initiate on the platform.

15. Service Availability

We target 99.9% platform uptime but do not guarantee uninterrupted availability. Scheduled maintenance is communicated in advance where possible. SlasTech is not liable for losses arising from platform unavailability, third-party payment provider outages (Paystack, Stripe, Interac, Stellar), or banking system disruptions.

16. Account Suspension & Termination

SlasTech may suspend or terminate your account immediately for: material breach of these Terms; suspected fraud or AML violation; regulatory requirement; court order; or 24-month account inactivity. On suspension, transaction capabilities are disabled and your balance is frozen pending investigation. On termination, you may withdraw your remaining balance to a verified bank account within 30 days, subject to any legal hold requirements.

17. Dispute Resolution

Disputes must first be submitted for informal resolution via legal@slastech.com within 30 days of the event giving rise to the dispute. Unresolved disputes proceed to binding arbitration: Lagos Court of Arbitration for Nigerian users; ADR Institute of Canada for Canadian users. Either party may seek emergency injunctive relief from a competent court without first exhausting the informal resolution process.

18. Governing Law

These Terms are governed by Nigerian law. For Canadian users, Ontario law applies where mandatorily applicable by statute. Nigerian users: Lagos courts have non-exclusive jurisdiction. Canadian users: Ontario courts have non-exclusive jurisdiction.

19. Modifications

We may update these Terms at any time. Material changes are notified via email and in-platform notice at least 30 days before taking effect. Continued use of SlasPay after the effective date constitutes acceptance of the revised Terms. All prior versions are archived and available on request from legal@slastech.com.

20. Contact Information

Legal enquiries: legal@slastech.com
Support: support@slaspay.com
Security: security@slaspay.com
Nigeria: Slas Technologies Limited, Lagos, Nigeria
Canada: Slas Technologies Inc., Barrie, Ontario, Canada

Version 1.0 — Effective March 2026. Also see our Privacy Policy and Cookie Policy.