Terms of Service

Effective Date: 16 February 2026

1. Agreement

These Terms of Service constitute a legally binding agreement between you and Webcilo Inc., a company incorporated in Nigeria.

By accessing or using the Paycilo website, subdomains, APIs, or related services (collectively, the Services), you agree to be bound by these Terms.

If you do not agree to these Terms, you must not use the Services.

2. Definitions

In these Terms:

• “Paycilo”, “We”, “Us”, or “Our” refers to Webcilo Inc. and its affiliates.
• “You” or “User” refers to the individual or legal entity accessing or using the Services.
• “Services” means the Paycilo website, subdomains, APIs, or related infrastructure for sharing payment coordinates, but explicitly excludes the transfer of funds itself.
• “Terms” means these Terms of Service, as may be updated from time to time.

3. Nature of the Service

Paycilo operates as a Technical Service Provider under Regulation 3(j) of the UK Payment Services Regulations 2017.

Important clarifications:

• We are not a bank.
• We are not a Payment Institution.
• We are not an Electronic Money Institution.
• We do not hold, receive, store or transmit funds.
• We do not execute payments.

We provide infrastructure that allows users to share payment coordinates. Any transfer of funds occurs directly between the payer and the payee through their own banking application or digital wallet.

We act as a signalling and information layer only.

4. Eligibility

You must be at least 18 years of age to use the Services.

By creating an account, you confirm that:

• The information you provide is accurate and complete.
• You have the legal capacity to enter into this agreement.
• You will comply with all applicable laws.

5. Account Responsibilities

You are responsible for:

• Maintaining the confidentiality of your login credentials.
• All activity that occurs under your account.
• Ensuring your payment coordinates are correct before sharing them.

We are not responsible for payments sent to incorrect bank accounts or wallet addresses due to user error.

We may require identity verification for certain accounts, particularly where higher usage volumes or fraud risk indicators exist.

6. Acceptable Use

You agree not to use the Services for:

• Fraudulent activity.
• Money laundering or terrorist financing.
• Scams, phishing or impersonation.
• Selling illegal goods or services.
• Misrepresenting your identity.
• Circumventing fraud detection systems.

We reserve the right to suspend or terminate accounts where we reasonably suspect abuse, fraud, or unlawful conduct.

7. No Financial Intermediary Liability

Paycilo is not a party to any transaction arranged using the Services.

We do not guarantee:

• That a payer will send funds.
• That a payee will deliver goods or services.
• That a transaction will succeed.

Once a user initiates a bank or crypto transfer through their own financial institution, we have no technical ability to reverse or cancel that transfer.

8. Consumer Risk Disclosure

Important notice for users in the United Kingdom:

Payments made via direct bank transfer or cryptocurrency are generally not covered by Section 75 of the Consumer Credit Act 1974.

You may not have the same protections that apply to credit card transactions.

You are solely responsible for verifying the identity and trustworthiness of the person or business you are paying.

Given the prevalence of Authorised Push Payment fraud in the United Kingdom, you should exercise caution before sending funds.

9. Fees

Core Paylink functionality is currently provided without charge.

We reserve the right to introduce paid features, subscription tiers, or usage based pricing in the future. Any such changes will be communicated in advance.

10. Intellectual Property

All rights, title and interest in the Paycilo platform, including software, branding, design, and documentation, remain the exclusive property of Webcilo Inc.

You are granted a limited, non exclusive, non transferable licence to use the Services for lawful personal or business purposes.

You may not:

• Reverse engineer the platform.
• Copy or reproduce core functionality.
• Use the Services to build a competing product.

11. Suspension and Termination

By You

You may close your account at any time by contacting us.

By Us

We may suspend or terminate your access immediately where:

• You breach these Terms.
• We suspect fraud or unlawful activity.
• Required by law or regulatory obligation.

Termination does not affect any rights or liabilities accrued prior to termination.

12. Limitation of Liability

To the fullest extent permitted by law:

Webcilo Inc. shall not be liable for:

• Indirect or consequential loss.
• Loss of profits or business interruption.
• Loss resulting from fraudulent counterparty behaviour.
• Payments sent to incorrect details provided by you.

Nothing in these Terms excludes liability for death or personal injury caused by negligence, fraud, or any liability that cannot be excluded under applicable law.

13. Indemnity

You agree to indemnify and hold harmless Webcilo Inc. from any claims, losses, damages or legal costs arising from:

• Your misuse of the Services.
• Your breach of these Terms.
• Transactions you arrange using Paycilo.

14. Privacy

Your use of the Services is also governed by our Privacy Policy.

15. Changes to These Terms

We may update these Terms from time to time to reflect legal, regulatory or operational changes.

Where changes are material, we will provide reasonable notice.

Continued use of the Services after changes take effect constitutes acceptance of the updated Terms.

16. Dispute Resolution

In the event of any dispute, claim, question, or disagreement arising from or relating to these Terms or the breach thereof (a “Dispute”), the parties shall first attempt to resolve the Dispute through good faith negotiation. If the Dispute is not resolved within sixty (60) days of one party providing written notice of the Dispute to the other party, then either party may seek remedies as set forth in Section 17.

17. Governing Law and Jurisdiction

These Terms are governed by and construed in accordance with the laws of England and Wales, without regard to its conflict of law principles.

Subject to the Dispute Resolution provisions in Section 16, any legal action or proceeding arising out of or relating to these Terms or the Services shall be brought exclusively in the courts of England and Wales, and You and Webcilo Inc. irrevocably consent to the exclusive jurisdiction and venue of these courts.

18. Contact

Webcilo Inc.

Email: [email protected]

End of Terms