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When you use our services as a Customer or as an Agent, we understand that you are trusting us with your information. We ensure to protect your information.

This Privacy Policy is meant to help you understand what information we (Jasipay Nigeria limited) collect, why we collect it, and how we use  your information when you use our app (Fundit).

In order to use our services, we need to collect, record, use, share and store personal and financial informtion about you. Your information may include Personal Data and Sensitive Personal Data.

You will be considered to have given your consent to us for the processing of your Personal Data and Sensitive Personal Data when you register, use or continue to use Fundit.

We will process your information including your Personal Data and Sensitive Personal Data on the terms below:

A. We will use your information to manage your account(s), provide our products and services to you. We may also share data with third party intermediries who facilitates communictions, delivery and processing of our products and services. We will only share the minimum informtion necessary for us to achieve these purposes.

B. We will retain informtion about you after the closure of your account. You my request the copy of your information from us by writting to us.

C. Registration data

To use the service, you must register by providing the following informtion:

First and last name: Your first name and last name are required to register. We would verify your name with the name on your bvn to verify your identity.

Email: This is your unique ID to login. when you credit your wallet, you will get the funding informtion in your email.

Phone number: Your phone number is required as a customer or as an agent. You may be called on this line or sent a message from us in case of any urgency on your account or any fraudulent transaction.

D. Updates that would be required upon successful registration.

These would be required of an agent or customer for further verification.

Gender: We require to now your gender as an Agent. This is vital to us, it helps us understand our users and also understand the proportion of male to female users on the platform.  

Photo ID: Provide your personal photo ID (required of agents only) for identity verification. 

Government issued ID: Provide a vaild government issued ID, e.g International passport, drivers license, voters card or national id card. This is required to validate your identity (required of agents only). 

Address: We require your business or shop address so that we can provide you with POS and other publicity materials.

Proof of Address: Provide a proof of address (optional). This is to verify your office or shop address (required of agents only).

BVN: We require your BVN in order to verify your first name and last name. Jasipay cannot access your bank account information with your BVN.

You agree to provide true, accurate and complete information about yourself as prompted by Fundit during the account registration and profile update process. You will be giving option of creating a security pin for the purpose of validating your transactions. 

E. Account Number Disclosure.

Upon successful registration, a Providus account number would be generated in your name and displayed on your home page. You or anyone can send money to this account to credit your wallet. The providus account number is not connected to any other providus account number you may have prior to or after your registration with Fundit.

F. Transaction Details

When you perform any transaction which include bank transfer, cash deposit, withdrawal, airtime purchase, data purchase and bill payment. Your data are only available with the us (Jasipay) and not disclosed to a third party.

Transfer: The recipient account number, bank name and account name is stored for the purpose of generating transaction history. As a customer, you have access to viewing the transfer history you have done through the app.

The recipient account number is made availabe to the third party who processes the payment as this is required for disbursement of funds to the account.

Deposit: For every deposit you do using Fundit scratch card pin or voucher, the details are saved for your easy access of deposit history. The account details of the recipient is not disclosed to any third party unless requested by the payment service provider in case of any frauduent transaction.

The recipient account number is made availabe to the third party who processes the payment as this is required for disbursement of funds to the account.

Airtime & Data Purchase: We do not use the phone numbers provided while buying airtime as data for publicity. We aso do not use it for any other purposes other than the purpose you have used it for on Fundit app. The details provided are saved for your easy access of transaction history.

The recipient phone number is made availabe to the third party who processes the transaction as this is required.

Bill Payment: We do not disclose the phone number or user ID you provided while performing bill payment to an external. The details provided are saved for your easy access of transaction history.

The recipient phone number or user ID is made availabe only to the third party who processes the transaction as this is required.


You are required to read and understand these terms, as they are a binding agreement between you and Jasipay.

The Fundit platform aids last-mile services on behalf of financial services companies, digital goods merchants, utilities, service providers, financial institutions, card schemes, mobile payments operators and more through a network of agents and customers

Fundit enables you transfer funds between your mobile money wallet and your bank account as well as to the wallet and the account of other users. You may also use credit cards to credit your wallet. 

By agreeing to this Terms of Use, you acknowledge and agree that Fundit can maintain a deposit equivalent to your electronic value in one of its pool accounts domiciled at any of the CBN licensed commercial banks or where applicable a third-party provider of the service you are using through Fundit

THIS AGREEMENT is made today BETWEEN JASIPAY NIGERIA LIMITED of  95, Samuel Ekunola Street, Ago palace way, Okota, Lagos, Nigeria(hereinafter called “Jasipay”) of the one part


You  (Hereinafter called “the Agent or Customer”) of the other part.

WHEREAS Jasipay is a limited liability Company duly incorporated in accordance with the laws of the Federal Republic of Nigeria, which manages an agency network called Fundit which has the capability to aid last-mile services of financial services companies, digital goods merchants, utilities service providers, financial institutions, card schemes mobile payment operators, national switches, payment gateways and through a network of agents and customers.

WHEREAS the Agent is a person recruited to perform and ensure active transactions through the Fundit solution/platform, and to provide agency banking and related services under the guidelines of agency banking outlined by the Central Bank of Nigeria.

WHEREAS, the customer is a user who registers on the platform for the purpose of performing financial transactions through the Fundit solution/platform.

WHEREAS Jasipay is desirous in Managing agent networks and customers through Fundit solution/platform.

WHEREAS the Agent has presented to Jasipay that they have the requisite skills, knowledge, experience, capability and all necessary personnel and facilities and are competent to provide the services within the specific area.

WHEREAS the Parties have negotiated and agreed on points hereinafter contained:


In this Agreement:

“Agents” shall mean a person partnered to perform and ensure active transactions through the Fundit solution/platform.

“Agreement” means this Agreement concluded between Jasipay and Agent for the participation of the Agent in providing the Authorised Services  as agreed between both parties as same may be amended from time to time. 

“Customers” refers to Fundit service users or potential users.

“Commissions” means the detailed transaction charges for the services and the approved commissions to be earned by the Agent while providing the services as agreed by the two parties

“Marketing Materials” refers to all items; banner advertisement, press communications, physical or otherwise, designed to promote the Jasipay/Fundit products and services.

“Fundit” means JASIPAY’s managed customers and agent network platform and/or the product name of Jasipay managed agent platform.

"Scratch card" referes to a physical card that can be scratched by customers and agents for performing cash deposit or to credit wallet.

"Scratch card PIN" referes to the code or ten digit code generated by Fundit which can be used by Customers and Agents to perform cash deposit or to credit wallet.

"Amount PIN" referes to the code or ten digit code generated by Fundit which can be used by Customers and Agents to perform cash deposit or to credit wallet.

"Security PIN" refers to the tranction pin created by customers agents in order to validate transaction on fundit android application. 

"Means of Identity" refers of a document to verify the identity of an agent, this could be international passport, voters card or drivers license. This will not be disclosed to a third party. 

"Proof of address" refers of a document to verify address location of an agent, this could be PHCN bill. This will not be disclosed to a third party. 

“Products and Services” refers to all Jasipay branded products and services.

“Point of Sale Terminal (POS)” means an electronic Mobile processing device or any electronic payment charging system approved by Jasipay

"BVN" means Biometric Verification Number used by the banking industry in Nigeria and issued by a CBN approved financial institution.
 This will not be disclosed to a third party. Fundit cannot access your bank account information with your BVN.

“Premises”   The Physical location or place used by the agent to conduct business

“Transaction” means any dealings executed by the Parties within Nigeria or any other market of mutual interest;

“Effective Date” means the date of execution of this agreement by both Parties.

"Content" means all information whether textual, visual, audio or otherwise, appearing on or available through the services.

"Credit" means the movement of funds into an Account or Wallet.

"Debit" means the movement of funds out of an Account or Wallet.

"CBN" means the Central Bank of Nigeria

"USSD" or "Unstructured Supplementary Service Data" is a real time messaging channel accessed from a mobile phone and allows user to interact with Fundit
"Partner Service Provider:" means any person or entity that offer its services or products through Fundit
"Services"; any products and services provided to the customer as part of Fundit


Terms and Conditions of Agreement

I. Age Restriction

If you are under eighteen (18) years  of age, you may not use the service.

J. Agent Presence

The Agent shall have a visible presence in the allocated area or premises in terms of outlets and sales.

Stocking of Products/Services

Jasipay shall supply and the Agent shall adequately have the equivalent in their wallet to access the stock and sell the entire range of the services/ products supplied through Fundit platform/solution


This Agreement shall be for an initial term of  One (1) year where after it shall be renewed automatically on the same terms, for a further period of One (1) year and this is subject to good business performance.

k. Fees and Commission

Agent shall be paid a fee per transaction that will be determined by the Super Agents/Jasipay being the commission for the services provided by the agent as indicated in our service catalogue

Agent shall share with  revenue with Jasipay on fees charged on specific services as indicated in our service catalogue

Nothing in this Agreement shall be construed as creating an employment or agency relationship between the Parties and neither Party can bind the other in any contractual or similar relationship with a third party;

The Agent shall not leverage Jasipay’s association for personal interest. All leveraging shall focus on making Fundit more competitive

All advertising materials shall be designed by Jasipay and any alterations made shall be with prior approval of Jasipay’s Sales and Support Team. The Agent may, however, place contact details on advertising materials;

Jasipay reserves the right to undertake any marketing and sales activity, and introduce more Agents within an Agent's allocated area

This agreement is personal to Jasipay and it shall not be capable of assignment or charge to third parties".  Assigning rights, responsibilities or liabilities shall be by written consent of Jasipay to the Agent.

Jasipay shall perform a Twenty One (21) days assessment of the Agent, followed thereafter by monthly reviews. However, feedback from the said reviews shall determine the course of action to be taken by Jasipay in relation to any renewal of this agreement.

In particular, Jasipay and Agent will be responsible for the following:

As owners of the Fundit Solution, Jasipay will support its Agents and Customers on all technical support required for this venture. 
Will advise the Agent and Customers on any measures for growth when required.
Will work with the Agent on specific reconciliation of revenues and commissions made.
Communicate to the agent if there are changes in commission
Inform Agent on any new product feature additions to boost growth and expansion
Support Agent with initial technical training on Fundit Platform/Solution
Jasipay will support the Agent with branded Fundit marketing materials to boost business.

Agent to support in building the markets available for Fundit solution/platform
Build an effective distribution outlet leveraging on identified channels for driving product/Service usage
Build campaigns on driving product/Service usage

l. Third party merchants offer the goods nd services

The service provides you with  a method of discovering offers from independent third party merchants ("Merchants"). These Merchants sell their respective Products subject to their own terms and conditions. For example:

Airtime: If you choose pre-paid irtime, you do so  pursuant to the relevnt terms nd conditions of your mobile telecommunications provider.

Utilites: If you choose to purchase pre-paid electricity or water, you do so pursuant to the relevant terms and conditions of the utility provider.

M. You must not use the Service to violate any laws.

You must not use the Service to violate or infringe the rights of any other person, including the rights of other users, Jasipay's rights in the Service or Merchants’ rights in their Products. You must not breach any laws or regulations when using the Service or attempt to disrupt or interfere with the security or functionality of the Service. In the event Jasipay has the suspicion you are using the Services for illegal activities such as fraud, Jasipay will block your account immediately.

N. Jasipay may contact you regarding your account or the Service.

You expressly agree that, as part of the Service, you may, from time to time, receive communications from Jasipay via email, instant message, telephone, text message (SMS) or other means. You may stop receiving promotional messages by emailing your request to opt-out, along with your cell phone number, to Even if you choose to opt out of receiving promotional messages, you may not opt out of receiving service-related messages.

O. Jasipay may discontinue the Service.

Jasipay may in its sole discretion and at any time terminate your access to the Service or discontinue providing the Service or any part of the Service, with or without notice. You agree that Jasipay will not be responsible or liable to you or any third party for modifying or discontinuing the Service, or for terminating or suspending your access to the Service.

Obligations of Agent

The Agent shall provide Jasipay with information about the Agent’s premises, network, outlets, distributing patterns, network partners and any other relevant information on a monthly basis;

The Agent shall have liquidity in their wallet to ensure availability at all times in the allocated area taking into account the purchase pattern and yearly events like holidays and the like

The Agent shall behave in a manner that enhances the image of Jasipay and Fundit brand;

The Agent shall be accessible to customers at least ten (10) hours a day and six (6) days a week between the hours of seven (7) am to six (6) pm.

You must keep your account secure. You are responsible for maintaining the confidentiality of your password, security PIN and account. Furthermore, you are entirely responsible for any and all activities that occur through the use of your account security PIN or password. You agree to immediately notify us of any unauthorized use of your account or any other breach of security. Utilisation of your account by either yourself and/or any other individual shall be deemed to be an authorised transaction and hereby indemnify us against and waive any claims relating to the unauthorised use of your account.

Obligations of Jasipay

All advertising materials shall be designed by Jasipay to enhance marketing and any alterations made shall be with prior approval of Jasipay’s Business Development Team for approval. The Agent may, however, place contact details on advertising materials.

Jasipay may at its option, offer capacity building training programs to ensure efficiency and effectiveness in the Agent’s activities and services; and

Jasipay may at its discretion introduce incentives to reward or encourage performance.

Agent Targets

The Agent shall have Transaction targets that will be communicated from time to time by Jasipay

Sales Promotion

Jasipay’s business team ‘may’ advice  Agent on various series of marketing promotions and may require the agent to run campaigns to promote the Fundit service


The Agent shall not disclose any confidential information to any third party during the subsistence of this Agreement and within a period of two (2) years thereafter. The Agent shall, however, seek Jasipay’s approval before providing directly or indirectly information generated to a third party

Agent Prohibited Activities

Agent shall not engage in any of the following prohibited activities outlined below:

Charge unapproved fees outside the specified tariffs directly to the customer

Operate when there is a communication or downtime on the system

Approve any loan or open a bank account on behalf of Jasipay, but can process a loan and open an account on behalf of the customer through any of our service providers

Continue with the agency business when he/she has a criminal record of disciplinary case involving fraud, dishonesty or any other financial impropriety

Provide, render or hold itself out to be providing or rendering banking service which is not specifically permitted in this agreement

Decline any transactions on the basis of race, religion, age, gender or politics

P. Falsification of Customer KYC


Jasipay reserve the right to terminate this agreement without prior notice to the agent.

Jasipay reserves the right to unilaterally terminate this Agreement for the following reasons:

Unauthorised advertising and promotion

Inappropriate use of the brand name “Jasipay/Fundit” on  property

Failure to meet agreed minimum monthly transaction targets

Failure to comply with Jasipay’s expectations in the maintenance of presentation and visibility standards

Agent engaging in fraud and its related activities, and not adhering to the regulations of agency banking of the Federal Republic of Nigeria

Agent violating provisions of the Agent prohibited activities under clause

Breach of any term of this Agreement.

Effects of termination of this Agreement:


The Agent shall lose all rights and privileges enjoyed under this Agreement.

Jasipay shall reserve the right to repossess established kiosk, business related documents, souvenirs, advertising materials and other items of importance

The agent shall not claim or hold against Jasipay payments for any loss of goodwill or profits

The Agent on Jasipay request shall make available the following:

Documentation relating to Jasipay’s products and services

All advertising and promotional materials

Other materials with Jasipay Trademark

Monies due on Termination

Jasipay reserve the right to withhold monies due to the Agent and use the same to offset any liabilities accrued by the agent.       


The agent shall be responsible to maintain such security precautions to ensure the operating environment is secure as well as to obtain suitable and secure safes, cabinets are important to services offered.

Agent will keep in its care materials and equipments entrusted to it by Jasipay and shall be responsible for its safekeeping

The Agent may take out necessary Insurance policies with a reputable insurer to safeguard the premises, equipments in its possession, cash in possession of the Agent and cash in transit against theft, fire, loss, injuries to the persons and any other necessary insurance for the business undertaken as the Agent may deem necessary.

Jasipay shall not be liable for any loss suffered by the agent arising from insecurity or any other means whether or not the agent holds a valid insurance cover.


The Parties shall endeavor to resolve any such dispute by mutual consultation, within ten (10) working days of the occurrence of same.

Any dispute, which cannot be mutually resolved by the parties in accordance with Clause 12.2 above, shall be referred to arbitration in accordance with the provisions of the Arbitration and Conciliation Act Cap A18 LFN 2004 or any statutory re-enactment or modification thereof. A single arbitrator shall be appointed jointly by both parties, provided that should the parties be unable to agree on the choice of a single arbitrator then the appointment shall be made by the Chairman of the Chartered Institute of Arbitrators (UK) Nigeria Branch.

Applicable Law

This Agreement shall be governed by and interpreted in accordance with the laws of the Federal Republic of Nigeria.


Any notice, consent or agreement required to be given under this Agreement shall be in writing and sent by registered mail to