Payment terms

1. What these terms cover

These payment terms apply when your business collects money from customers through Antly One, for example by payment link, online order or booking deposit. They add to the terms of service. Cash, transfers to your own account and card terminals you run yourself are recorded in Antly One but are not collected by us.

2. How the money moves

Your customer pays by card, bank transfer or USSD on a payment page run by our payment processor. The money is paid into Byte Cognetics Ltd.’s account, and we collect it on your behalf as your agent. Once your customer’s payment is confirmed, they have paid you.

We keep a record of what we hold for your business, called your balance, in Money → Online payments. Money we hold for you is not a deposit and does not earn interest.

3. Getting verified

• Before we pay you, we need to verify your business, using your identity or your CAC registration.
• Your payout bank account must be in the verified name of you or your business.
• Only an owner can add or change the payout account, and doing so needs a fresh sign-in code.
• We may ask for more information at any time to meet anti-fraud and financial rules.

4. When you get paid

• Money from a confirmed payment normally reaches us the next working day. Until then it shows as “on the way”.
• We pay settled money to your payout account in a payout run on each working day, once at least ₦1,000 is available.
• For a new business, the first payout is held for 7 days after its first online payment.
• When the payout account changes, payouts are held for 72 hours and every owner is told.
• Payouts can be delayed by our payment processors, by banks, or by a hold under section 7. We will show you any delay.

5. Fees

The payment processor’s fee and any Antly One service charge are shown to you before you send a payment link and against each payment in the app. They are deducted from your balance before payout. We will give you at least 30 days’ notice before we introduce or increase a service charge.

6. Refunds, disputes and chargebacks

You decide your own refund policy and must honour it and the law. Refunds of online payments are made through us and deducted from your balance.

If a customer disputes a card payment with their bank, we will tell you and ask for evidence, such as proof of delivery. If the dispute goes against you, the amount and any fee charged to us are deducted from your balance. If your balance is not enough, you must pay us the difference, and we may deduct it from later payments.

7. Holds and reserves

We may hold some or all of your balance, or keep a reserve, if we reasonably suspect fraud or a breach of these terms, if your business has an unusual number of disputes or refunds, if your business type carries higher risk, or if a court, regulator or the law requires it. We will tell you why unless the law prevents it, and release the money as soon as the reason has passed.

8. Your responsibilities

• Sell only lawful goods and services, and describe them and their price honestly.
• Deliver what your customers paid for, and deal with their complaints.
• Do not use payment links for anything listed in the acceptable use policy.
• Keep your own records and pay the taxes due on your sales.

9. Statements and records

Every payment, fee, refund, chargeback and payout appears in Money → Online payments. If you think something is wrong, tell us within 60 days at support@antly.one with the payment reference.

10. If you stop using payments or close your account

You can stop using online payments at any time. When you close your account, we pay out your remaining balance once pending payments have settled and any hold has ended, after taking off refunds, chargebacks and fees owed.

11. Our responsibility

We are responsible for paying you money we have received for your business, in line with these terms. We are not liable for delays or failures caused by payment processors, banks or networks outside our reasonable control, but we will help you trace any payment.