Terms & Conditions
Last updated: September 5, 2026 · Operational Jurisdiction: Nigeria & International
1. Acceptance of Terms
By accessing, registering, or using any service provided by Wicomi Global Services ("Wicomi", "we", "our", or "us"), including our API infrastructure, mobile apps, payment checkout links, virtual accounts, and loan facilities, you ("User", "Merchant", or "Customer") agree to be bound strictly by these Terms & Conditions.
If you do not accept these terms in full, you must immediately cease accessing or using Wicomi platforms.
2. Platform Services & APIs
Wicomi provides financial technology infrastructure, including payment collection gateways, payout disbursements, virtual USD/NGN account generation, POS terminal applications, developer APIs, and business lending solutions.
Wicomi reserves the right to modify, suspend, or discontinue any feature or endpoint at any time with appropriate notice to merchants.
3. Account Eligibility & Know Your Customer (KYC)
In compliance with Nigerian financial regulations and anti-money laundering frameworks, all users must submit valid identity information (including Bank Verification Number - BVN, National Identification Number - NIN, CAC registration documents for businesses, and proof of address) to access full platform capabilities.
- You must be at least 18 years of age or possess legal authority for corporate entity registration.
- You are solely responsible for keeping your PIN, passwords, and API secret keys confidential.
- Wicomi reserves the right to freeze accounts engaging in suspicious or unverified activities.
4. Credit & Lending Terms
Wicomi offers credit facilities to qualified Individual and Business accounts. By applying for a loan on Wicomi, you acknowledge and agree to the following lending conditions:
Key Lending Terms & Eligibility Criteria:
- Individual Accounts: Eligible for loans ranging from ₦5,000 to ₦1,000,000, provided the account has been active for at least 3 months with cumulative transaction volume ≥ ₦500,000.
- Business Accounts: Eligible for loans ranging from ₦1,000,000 to ₦50,000,000, provided the account has been active for at least 3 months with cumulative transaction volume ≥ ₦1,000,000.
- Interest & Repayment: Interest is calculated at a flat rate of 3.5% monthly over the chosen tenure (1 to 12 months). Monthly installments are automatically deducted or due on designated dates.
- Approval & Default: All loan applications are subject to administrative review and risk profiling. In the event of default, Wicomi reserves the right to report non-payment to licensed Credit Bureaus in Nigeria and pursue legal recovery mechanisms.
5. Fees & Payment Settlement
Transactions processed via Wicomi are subject to standardized transparent fees (e.g. 1.4% capped at ₦2,000 for collections, ₦50 flat fee for bank disbursements, and $1 for stablecoin payouts). Fees are automatically deducted at the point of settlement.
6. Prohibited Activities
Users are strictly prohibited from utilizing Wicomi infrastructure for illegal gambling, fraudulent schemes, Ponzi operations, unauthorized money service businesses, or terrorism financing.
7. Limitation of Liability
To the maximum extent permitted by law, Wicomi Global Services shall not be held liable for indirect, incidental, or consequential damages resulting from network outages, third-party bank delays, or unauthorized account access caused by user negligence.
8. Governing Law & Regulatory Compliance
These terms are governed by the laws of the Federal Republic of Nigeria. Wicomi operates in compliance with all applicable Nigerian financial laws, anti-money laundering (AML) laws, and data protection frameworks (NDPR).
9. Registered Business Details
Wicomi Global Services is registered with the Corporate Affairs Commission (CAC) under Business Name Number: BN 9796404.
Nigerian Address: DANDIVE ESTATE, COMPREHENSIVE NEIGHBORHOOD, EGBU, OWERRI, IMO STATE, NIGERIA.
UK HQ Address: 48 West George Street, Glasgow, G2 1BP, Scotland, UK.