This Merchant Service Agreement (“MSA” or “Agreement”) is entered into between Dollr Services Ltd (“Dollr”, “we”, “us”, or “our”) and the merchant or business entity identified in the onboarding application (“Merchant” or “you”). This Agreement supplements and should be read together with our Terms of Use and Privacy Policy.

By completing the merchant onboarding process and activating your account, you accept the terms of this Agreement.

1. Merchant Onboarding and KYC

Before processing live transactions, you must complete our Know Your Customer (KYC) and Know Your Business (KYB) verification process. This includes:

Submission of valid government-issued identification for all beneficial owners (persons with ≥ 25% ownership).
Business registration documents: Certificate of Incorporation, Memorandum & Articles of Association, and Business Permit where applicable.
Tax Identification Number (TIN) or equivalent tax registration documentation.
Bank account verification in the name of the registered business entity.
Proof of business address (utility bill or official correspondence not older than 3 months).

Dollr reserves the right to request additional documentation at any time, including during periodic compliance reviews. Failure to provide requested documentation within 10 business days may result in account suspension or fund holds.

2. Payment Processing Services

Dollr will provide you with access to the following services as agreed in your plan:

Card payments (Visa, Mastercard, Verve, and other supported schemes).
Bank transfers and direct debit.
Mobile money (MoMo, Orange Money, Airtel Money, and other supported operators).
USSD payment collection.
API and SDK-based payment collection for custom integrations.
Payout services to bank accounts and mobile wallets.
Multi-currency acceptance and conversion (where supported by your plan).

3. Merchant Obligations

As a Merchant, you agree to:

Use the Services exclusively for the business activities described in your onboarding application. Material changes to your business model require prior written notification to Dollr.
Maintain accurate product/service descriptions so customers can clearly identify what they are paying for.
Honour all transactions approved through the Dollr platform unless a valid refund or dispute process is initiated.
Display clear refund and cancellation policies to your customers before they complete payment.
Maintain your own records of transactions, invoices, and customer communications for at least 7 years.
Comply with all applicable payment card industry standards (PCI-DSS) when handling or storing cardholder data.
Not store full card numbers, CVVs, or PINs in any system other than Dollr's certified vault.
Notify Dollr immediately if you suspect any data breach or unauthorised access to payment data.

4. Prohibited Business Categories

Dollr does not provide Services to businesses engaged in the following categories, regardless of legality in the Merchant's jurisdiction:

Unlicensed financial services (forex trading, investment schemes, unlicensed lending).
Online gambling, sports betting, or lottery services without the applicable regulatory licence.
Adult content or adult entertainment platforms.
Sale of pharmaceutical products or controlled substances without appropriate licences.
Cryptocurrency exchanges, token sales, or NFT marketplaces (without prior written approval).
Multi-level marketing or pyramid schemes.
Sales of weapons, ammunition, or related accessories.
Any business on international sanctions lists.

If we discover that your business falls into a prohibited category after onboarding, we will suspend your account and hold funds pending compliance review. Any funds legitimately owed will be remitted after the completion of the review.

5. Transaction Limits and Controls

Your account is subject to transaction limits based on your verified account tier:

Starter tier: Up to ₦5,000,000 (or equivalent) per month in aggregate collections.
Growth tier: Up to ₦50,000,000 (or equivalent) per month in aggregate collections.
Scale tier: Custom limits agreed in writing with your account manager.

Exceeding your tier limit may result in transaction holds pending manual review. To request a limit increase, submit a request through your dashboard or contact your account manager.

6. Fees and Pricing

Fees are charged per transaction and vary by payment method, currency, and your pricing plan. The applicable fee schedule is accessible in your merchant dashboard and at heydollr.app/pricing. Fees are deducted from transaction proceeds at the time of settlement unless you have a separate invoiced billing arrangement.

Additional charges may apply for:

Chargeback processing (₦5,000 or equivalent per chargeback received).
Expedited or same-day settlement (where available).
International transfers above your plan's included volume.
Dedicated account management (Scale tier only).

Dollr reserves the right to revise pricing with 30 days' written notice. Continued use after the effective date constitutes acceptance.

7. Settlement

Collected funds are held in a segregated trust account and settled to your registered bank account on the following schedule:

Card payments: T+1 business day (next business day after transaction).
Bank transfers: T+0 to T+1 business day.
Mobile money: T+1 to T+2 business days depending on operator.
International payouts: T+2 to T+5 business days depending on destination country.

Settlement may be delayed if: (a) suspicious activity is detected on your account; (b) chargeback ratios exceed acceptable thresholds; (c) you have not completed required KYC documentation; or (d) your account is under regulatory review. Dollr will notify you of any settlement delay and the reason within 1 business day.

8. Chargebacks and Disputes

A chargeback occurs when a cardholder disputes a transaction with their issuing bank. When a chargeback is received:

We will notify you by email within 48 hours of receiving the chargeback notification.
The disputed amount will be held from your next settlement pending resolution.
You will have 5 business days to submit compelling evidence via your dashboard.
Dollr will compile and submit the evidence package to the relevant card scheme on your behalf.
Resolution timelines are determined by the card scheme (typically 45–90 days).

Merchants with a chargeback ratio exceeding 1% of monthly transaction volume may be subject to a rolling reserve, increased scrutiny, or account suspension.

9. Rolling Reserve

For higher-risk merchant categories or merchants with elevated chargeback or fraud rates, Dollr may apply a rolling reserve: a percentage of transaction proceeds (typically 5–10%) held for a defined period (typically 90–180 days) as a security deposit against chargebacks and disputes. Reserved funds are released automatically at the end of the reserve period assuming no outstanding claims. You will be notified in writing before a rolling reserve is applied.

10. Refunds

You are responsible for processing refunds to your customers in accordance with your stated refund policy. Refunds must be processed through the Dollr dashboard or API within 180 days of the original transaction. Refund amounts will be deducted from your next settlement. Dollr does not refund processing fees on refunded transactions.

11. Fraud Prevention

Dollr applies automated fraud scoring to all transactions. Transactions flagged as high-risk may be declined, held for review, or subject to additional authentication (3DS). You may configure your own fraud rules in your dashboard within the limits permitted by your account tier.

You must not knowingly process fraudulent transactions or attempt to circumvent our fraud controls. Doing so will result in immediate account termination and reporting to relevant authorities.

12. Term and Termination

This Agreement remains in effect until terminated by either party. You may terminate by providing 30 days' written notice to [email protected]. We may terminate with immediate effect for material breach, prohibited activity, regulatory requirement, or prolonged inactivity (12+ months with no transactions).

Upon termination: (a) API access is revoked immediately; (b) outstanding settlements are processed within 7 business days after any applicable review period; (c) data is retained per our Privacy Policy and applicable law.

13. Liability Cap

Dollr's aggregate liability under this Agreement is limited to the fees paid by you to Dollr in the 3 months immediately preceding the event giving rise to the claim. Dollr is not liable for indirect, consequential, or punitive damages.

14. Governing Law

This Agreement is governed by the laws of the Federal Republic of Nigeria. Disputes shall be resolved by binding arbitration under the Monrovia Court of Arbitration rules. The seat of arbitration shall be Monrovia, Liberia.

15. Contact

Merchant support: [email protected]
Compliance queries: [email protected]
Dollr Services Ltd.