Terms of Service

1. Agreement to Terms

These Terms of Service ("Terms") govern your access to and use of the Myrica Pay website, mobile application, digital wallet, payment services, and all related features and tools (collectively, the "Services").

By creating an account, accessing, or using the Services in any way, you agree to be bound by these Terms and all applicable laws and regulations. If you do not agree to these Terms, you must not create an account or use our Services.

These Terms apply to all users of the Services, including individual customers, merchants, and agents. Where specific Terms apply to a particular user type, this will be stated clearly.

You must be at least 18 years of age and legally capable of entering into a binding agreement under the laws of your country of residence to use Myrica Pay.

2. About Myrica Pay

Myrica Pay is a digital financial services platform incorporated and operating under the laws of each country in which it holds a valid licence or regulatory authorisation. Myrica Pay operates a multi-country fintech ecosystem beginning in Sierra Leone and progressively expanding to the Gambia, Liberia, Guinea, and other markets as regulatory approvals are obtained.

Myrica Pay operates under the regulatory oversight of the relevant financial authority in each active market. These include but may not be limited to:

• Sierra Leone: Bank of Sierra Leone (BSL) - Licensed
• The Gambia: Central Bank of The Gambia (CBG) - Pending
• Liberia: Central Bank of Liberia (CBL) - Pending
• Guinea: Banque Centrale de la Republique de Guinee (BCRG) - Pending

Specific licence details, registration numbers, and regulatory notices for each active market are published in our Help Centre and updated as new markets go live. Nothing in these Terms constitutes financial, legal, investment, or tax advice.

3. Our Services

Myrica Pay provides a digital financial ecosystem that enables users to:

• Maintain a personal digital wallet in their local currency
• Send and receive money domestically and internationally
• Make cross-border transfers including outbound remittances to the United States and other international destinations
• Pay utility bills, including electricity and water services
• Purchase airtime and mobile data
• Pay merchants and businesses for goods and services
• Perform QR-code based payments at participating locations
• Cash in and cash out through verified Myrica Pay agents
• Make trade and supplier payments to international businesses
• Access transaction history, receipts, and account statements

Service Availability by Country

Not all services are available in every market. Products, features, billers, payment rails, and partner integrations are enabled on a per-country basis and are subject to local regulatory approval. The specific services available to you will be shown within the app based on your registered country. Myrica Pay does not offer cryptocurrency transfers or crypto-related services of any kind.

Service Modifications

Myrica Pay reserves the right to add, modify, suspend, or discontinue any feature or service at any time for operational, legal, regulatory, or security reasons. Where required by applicable law, we will provide reasonable prior notice of material changes.

Transaction Processing

All transactions are processed in accordance with your instructions, applicable law, verification requirements, and the availability of our partner financial institutions and payment networks. Myrica Pay does not guarantee specific delivery times. Estimated delivery windows are provided as guidance only and are displayed transparently to you before you confirm any transaction. Actual delivery may be affected by factors outside our control, including correspondent banking processes, public holidays, and regulatory screening requirements.

4. Eligibility and Registration

To create an account and use the Services, you must:

• Be at least 18 years of age
• Be a resident of or legally present in a country where Myrica Pay is authorised to operate
• Provide accurate, current, and complete personal information
• Comply with all applicable local and international laws
• Not be subject to any sanctions, asset freezes, or restrictions under applicable law
• Not have been previously suspended or terminated from Myrica Pay for violations of these Terms

You are responsible for maintaining the confidentiality of your account credentials, including your password, PIN, and any biometric authentication. You must notify Myrica Pay immediately at support@myricapay.app if you suspect any unauthorised access to your account. You are liable for all activity on your account until you notify us of a breach.

You may only hold one personal account with Myrica Pay. Creating multiple accounts is prohibited and may result in account suspension.

5. Identity Verification (KYC/AML)

Myrica Pay is required by law in all operating markets to verify the identity of its users in compliance with Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter-Financing of Terrorism (CFT) regulations.

By using the Services, you agree to provide accurate and truthful information, which may include:

• Full legal name
• Date of birth
• Residential address
• Nationality
• Government-issued photo identification (national ID, passport, or driver's licence)
• Selfie or biometric verification
• Proof of address
• Source of funds or source of wealth (where required by your KYC tier or applicable law)
• Any additional documentation requested by our compliance team

KYC Tiers

Myrica Pay operates a tiered KYC system. Access to certain features, higher transaction limits, and expanded services depends on your verified KYC tier. Moving to a higher tier requires completing additional verification steps. Tier details and associated limits are published in the app and in the Help Centre.

Myrica Pay may request additional documentation at any time as part of ongoing customer due diligence. Failure or refusal to provide requested information may result in service restrictions, transaction holds, or account closure.

All personal data collected as part of KYC verification is handled in accordance with our Privacy Policy.

6. Transaction Limits

Transaction limits apply to all Myrica Pay accounts and vary based on:

• Your verified KYC tier
• Your country of registration
• The type of transaction (domestic send, international transfer, bill pay, agent cash-in/out, etc.)
• The applicable regulations of the operating market
• Specific partner or payment rail restrictions

Higher KYC verification levels unlock higher transaction limits. Specific limits applicable to your account and country are shown within the app at all times. Myrica Pay reserves the right to adjust transaction limits at any time in response to regulatory requirements, fraud risk assessments, or operational considerations. You will be notified of any material changes to your limits.

7. Fees and Pricing

All applicable fees, charges, and exchange margins will be displayed to you clearly and in full before you confirm any transaction. You will never be charged fees that were not shown to you at the time of confirmation.

Fees may vary based on:

• Country of origin and destination
• Payment method used
• Transaction type and value
• Currency pair
• Delivery method selected

By confirming a transaction, you authorise Myrica Pay to deduct all applicable fees from the amount you are sending or from your wallet balance, as applicable. Myrica Pay does not charge hidden fees. Any promotional fee waivers, including early-access offers, will be clearly labelled as time-limited promotions and are subject to their own terms and conditions.

8. Exchange Rates

For transactions involving currency conversion, the applicable exchange rate will be displayed to you before you confirm the transaction. Exchange rates are live market rates and are subject to fluctuation. The rate shown at the point of confirmation is the rate applied to your transaction.

Exchange rates may differ from publicly quoted interbank rates. Myrica Pay does not apply hidden rate markups beyond what is disclosed at the point of transaction. For cross-border transfers, the exact amount the recipient will receive in their local currency will be shown before you send.

9. Refunds and Cancellations

Cancellation

You may request to cancel a transfer only if the funds have not yet been disbursed to the recipient or collected by an agent. Once a transaction is marked as completed, picked up, or credited to the recipient's account or mobile wallet, it cannot be cancelled or reversed by Myrica Pay.

Refund Processing

If a cancellation is approved, refunds will be processed within a maximum of 30 calendar days from the date the cancellation is confirmed. Refunds will be returned to the original funding source or your Myrica Pay wallet, depending on how the transaction was funded.

Refunds May Be Denied If:

• The transaction has already been completed, collected, or credited to the recipient
• Required compliance or identity verification checks have not been satisfied
• Fraud or suspicious activity is detected in connection with the transaction
• The transaction is under regulatory review or investigation
• The transaction violates these Terms or applicable law

Myrica Pay will notify you of the outcome of any refund request. If a refund is denied, we will provide a reason where permitted by law.

10. Anti-Money Laundering and Counter-Financing of Terrorism

Myrica Pay is fully committed to complying with applicable AML and CFT laws in all markets where it operates. This includes compliance with:

• The Financial Intelligence Unit requirements of Sierra Leone
• Equivalent AML/CFT frameworks in the Gambia, Liberia, Guinea, and all future markets
• United Nations Security Council sanctions and applicable international sanctions regimes
• FATF (Financial Action Task Force) recommendations and standards

Myrica Pay may, without prior notice:

• Delay, hold, or refuse to process any transaction that triggers compliance review
• Report suspicious transactions to the relevant Financial Intelligence Unit or regulatory authority
• Freeze or restrict your account pending investigation
• Cooperate fully with law enforcement and regulatory authorities

You agree not to use the Services for any purpose that would constitute money laundering, terrorist financing, sanctions evasion, or any other financial crime. Myrica Pay is required by law to file suspicious activity reports and is legally prohibited from disclosing to you that such a report has been made.

11. User Responsibilities and Prohibited Conduct

You agree to use the Services lawfully and responsibly. You must not:

• Use the Services for any illegal, fraudulent, or unauthorised purpose
• Misrepresent your identity, nationality, or residential address
• Provide false or misleading information to Myrica Pay at any time
• Share your account credentials or allow any other person to access your account
• Use the Services to facilitate fraud, scams, pyramid schemes, or deceptive practices
• Use the Services to process payments on behalf of a third party without their knowledge or consent
• Conduct transactions that violate any applicable sanctions regime
• Attempt to circumvent transaction limits, KYC requirements, or compliance controls
• Interfere with, disrupt, or attempt to gain unauthorised access to the platform
• Transmit malware, viruses, bots, or any harmful code through the platform
• Use automated tools, scripts, or bots to access or interact with the Services

You are solely responsible for ensuring that all recipient information you provide is accurate and complete. Myrica Pay is not liable for failed, delayed, or misdirected transactions resulting from incorrect recipient details provided by you.

12. Agent-Specific Terms

Agents are individuals or businesses that have entered into a separate Myrica Pay Agent Agreement and are authorised to facilitate cash-in and cash-out transactions on behalf of Myrica Pay customers.

In addition to these general Terms, agents agree to:

• Operate only within their authorised territory and within approved transaction limits
• Maintain their own float from their own resources - Myrica Pay does not provide agents with pre-funded float
• Keep agent wallet balances sufficient to handle expected transaction volumes
• Comply with all applicable KYC and AML procedures when serving customers
• Never facilitate transactions for unverified or suspicious customers
• Maintain accurate records of all transactions
• Comply with Myrica Pay's agent operational standards, training requirements, and security protocols

Agents' commissions, wallet terms, and operational obligations are governed by the Myrica Pay Agent Agreement, which forms a separate legal contract with Myrica Pay. In the event of conflict between these Terms and the Agent Agreement, the Agent Agreement takes precedence for agent-specific matters.

Myrica Pay may suspend or terminate an agent's authorisation at any time for violations of the Agent Agreement, these Terms, or applicable law.

13. Merchant Terms

Merchants who accept Myrica Pay as a payment method must:

• Register and verify their business through the Myrica Pay merchant onboarding process
• Provide accurate business information, including registration documents and beneficial owner details
• Only accept payments for lawful goods and services
• Comply with all applicable consumer protection laws in their operating market
• Not use their merchant account to process personal transfers or agent-style transactions

Merchant fee structures, settlement timelines, and operational terms are governed by the Myrica Pay Merchant Agreement.

14. Intellectual Property

All content, software, features, interfaces, trademarks, logos, trade names, and other intellectual property accessible through the Services are owned by Myrica Pay or its licensors and are protected under applicable intellectual property laws.

You are granted a limited, non-exclusive, non-transferable, revocable licence to access and use the Services for your personal, lawful purposes only. You may not copy, modify, distribute, reverse engineer, scrape, or create derivative works from any part of the Services without express written permission from Myrica Pay.

15. Third-Party Services and Partners

Some Services rely on third-party partners, including commercial banks, mobile money operators, payment processors, foreign exchange providers, and technology vendors. These third parties operate under their own terms and conditions.

Myrica Pay is not responsible for the availability, accuracy, performance, or conduct of third-party services. Where a failure by a third-party partner causes a transaction to be delayed, failed, or reversed, Myrica Pay will use reasonable efforts to resolve the matter but cannot be held liable for losses caused by third-party failures outside our control.

16. Data Protection and Privacy

Myrica Pay collects, processes, and stores your personal data in accordance with our Privacy Policy, which is incorporated by reference into these Terms. By using the Services, you consent to the collection and use of your data as described in the Privacy Policy.

Myrica Pay complies with applicable data protection laws in each operating market. Your personal data will never be sold to third parties for marketing purposes.

You have rights in relation to your personal data, including rights of access, correction, and deletion, subject to legal and regulatory obligations that may require us to retain certain data. Full details are set out in our Privacy Policy at myricapay.com/policies.

17. Disclaimer of Warranties

To the maximum extent permitted by applicable law, the Services are provided on an "as is" and "as available" basis. Myrica Pay does not warrant that the Services will be uninterrupted, error-free, or free from harmful components.

This disclaimer does not affect any rights you may have under applicable consumer protection or financial services legislation in your country of residence, which cannot be excluded or limited by contract.

18. Limitation of Liability

To the fullest extent permitted by applicable law, Myrica Pay will not be liable for any indirect, incidental, consequential, special, or punitive damages, including loss of profits, data, or goodwill, arising out of or in connection with your use of the Services.

Where liability cannot be excluded by law, Myrica Pay's total aggregate liability to you for any claim arising from your use of the Services shall not exceed the greater of: (a) the total fees paid by you to Myrica Pay in the 12 months immediately preceding the event giving rise to the claim, or (b) the equivalent of USD 200 in your local currency.

Nothing in these Terms limits Myrica Pay's liability for fraud, gross negligence, wilful misconduct, or any liability that cannot be limited or excluded under applicable law.

19. Indemnification

You agree to indemnify, defend, and hold harmless Myrica Pay and its officers, directors, employees, agents, and licensors from and against any claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or relating to: (a) your use of the Services in violation of these Terms; (b) your violation of any applicable law or regulation; (c) inaccurate or false information provided by you; or (d) any third-party claim resulting from your actions on the platform.

20. Force Majeure

Myrica Pay will not be liable for any failure or delay in performing its obligations under these Terms where such failure or delay results from circumstances beyond its reasonable control. This includes but is not limited to: acts of God, government actions or regulatory orders, war, civil unrest, sanctions, banking system failures, telecommunications outages, cyber attacks, pandemics, or the failure of third-party payment partners.

In the event of a force majeure event, Myrica Pay will notify affected users as soon as reasonably practicable and will use reasonable efforts to resume normal operations.

21. Account Suspension and Termination

Myrica Pay may suspend or terminate your access to the Services at any time, with or without prior notice, if:

• You violate any provision of these Terms
• You fail to complete required KYC verification or provide false documentation
• Suspicious, fraudulent, or high-risk activity is detected on your account
• Required by a regulatory authority, court order, or law enforcement agency
• Your account is inactive for an extended period (as defined in the Help Centre for your market)
• You are found to be operating in a country where Myrica Pay is not authorised to provide services

You may close your account at any time by contacting Myrica Pay support or through the account settings in the app. Upon account closure, any remaining balance will be refunded to you after deduction of any outstanding fees, provided you have completed the required identity verification and there are no compliance holds on your account.

Sections of these Terms that by their nature should survive termination - including intellectual property, limitation of liability, indemnification, dispute resolution, and governing law - will remain in effect after termination.

22. Governing Law and Jurisdiction

These Terms, and any dispute arising out of or in connection with them, shall be governed by and construed in accordance with the laws of the country in which you are registered as a Myrica Pay user and in which the relevant Services are provided to you.

This means users are subject to the laws of their country of registration:

• Users registered in Sierra Leone are subject to the laws of the Republic of Sierra Leone
• Users registered in The Gambia are subject to the laws of the Republic of The Gambia
• Users registered in Liberia are subject to the laws of the Republic of Liberia
• Users registered in Guinea are subject to the laws of the Republic of Guinea
• As Myrica Pay expands to new markets, governing law for users in those markets will be updated accordingly and published in advance

Where you use the Services to send money to a recipient in a different jurisdiction, this does not change your governing law, which remains that of your country of registration.

23. Dispute Resolution

Step 1 - Contact Us First

Before initiating any formal dispute, you must first contact Myrica Pay's support team at support@myricapay.app or legal@myricapay.app and give us a reasonable opportunity to resolve the matter. We will acknowledge your complaint within 5 business days and aim to provide a resolution within 30 business days.

Step 2 - Escalation to Regulator

If you are not satisfied with Myrica Pay's response, you have the right to escalate your complaint to the relevant financial regulator or consumer protection authority in your country of registration. Details of the relevant authority for your market are available in the Help Centre.

Step 3 - Formal Dispute Resolution

If a complaint cannot be resolved through the above steps, disputes shall be referred to binding arbitration conducted under the rules of the relevant arbitration body in your governing jurisdiction. Each party shall bear its own costs unless the arbitrator determines otherwise.

Class action claims and group litigation against Myrica Pay are expressly excluded to the fullest extent permitted by applicable law.

24. Changes to These Terms

Myrica Pay may update these Terms from time to time to reflect changes in our Services, applicable law, or our operating model. When we make material changes, we will notify you by email, in-app notification, or prominent notice on our website at least 14 days before the changes take effect.

Your continued use of the Services after the effective date of updated Terms constitutes your acceptance of the revised Terms. If you do not agree to the updated Terms, you must stop using the Services and may close your account in accordance with Section 21.

A history of previous versions of these Terms is available upon request.

25. Complaints Policy

Myrica Pay is committed to resolving complaints fairly, promptly, and transparently. If you wish to raise a complaint:

• Email: support@myricapay.app
• In-app: Use the Help & Support section
• Legal matters: legal@myricapay.app

All complaints will be acknowledged within 5 business days. We target full resolution within 30 business days. For complex matters, we will keep you informed of progress if more time is required. Myrica Pay treats all complaints confidentially and uses feedback to improve our Services.

26. Entire Agreement

These Terms, together with the Privacy Policy, Cookie Policy, and any applicable product-specific agreements (including the Agent Agreement and Merchant Agreement), constitute the entire agreement between you and Myrica Pay with respect to the Services and supersede all prior agreements, understandings, or representations on the same subject matter.

If any provision of these Terms is found to be invalid or unenforceable under applicable law, that provision will be modified to the minimum extent necessary to make it enforceable, and the remaining provisions will continue in full force and effect.