You are required to read and understand these rules as they are a binding
agreement between you and Contec Global Infotech Ltd, the providers of
By registering for a NOWNOW wallet, you agree to the rules stated in this
document. You are also deemed to accept these rules upon first use of a
registered phone number, or any information related to a NOWNOW account, in
connection with the use of NOWNOW.
1. Definitions The following definitions relate
to these Terms and Conditions
- "Account" is an electronic stored value account on NOWNOW created for
use by the customer or Agent. Credits, debits and charges are applied to
this account. The account is primarily accessed through your mobile
phone and the NOWNOW online systems.
- "Agent" refers to any party or device, including authorized NOWNOW
Agents, Merchants, ATMs, connected kiosks and bank tellers that
facilitate NOWNOW transactions on behalf of customers.
- "ATM" means automated teller machine.
- "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.
- "Debit" means the movement of funds out of an account.
- "IVR" stands for Interactive Voice Response system, the automated phone
line that allows a computer to recognize voice and keypad inputs.
- "Level 1 customer" refers to a new customer who provides the minimum
requirement listed in [4.9] below, either in a self sign-up or to a
NOWNOW agent or authorized administrative centre.
- "Level 2 customer" refers to a NOWNOW user who has submitted his phone
number, full name, full address and a copy of a verifiable ID card to
authorized NOWNOW agent nationwide authorized to perform the upgrade.
- Level 3 customer" refers to a NOWNOW user who has linked his NOWNOW
account to his bank account with one of the banking institutions
recognised by the Central Bank of Nigeria or provided all required KYC
details at a NOWNOW administrative centre authorized to perform the
upgrade to Level 3.
- "Linked bank account" refers to the bank account that you have linked to
your NOWNOW account. This allows you to carry out transactions using
funds from your bank account instead of using your NOWNOW account.
- "Merchant" means a seller of goods and or services who will accept
NOWNOW as payment for these goods and or services.
- "Mobile Payments" describes the service or process that allows customers
to make and receive a variety of payments using their mobile phone,
among other channels. This service is available as part of NOWNOW.
- "Mobile phone" means a GSM or CDMA device which can make and receive
telephone calls and send and receive SMS, among other communication
- "NOWNOW" refers to the financial services products offered by NOWNOW
Limited, with a central feature being a transactional account(s) that
may be used in relation to a wide variety of services.
- "NOWNOW" refers to NOWNOW Limited, a mobile payments platform company
registered under the laws of the Federal Republic of Nigeria.
- "PIN" means personal identification number being the secret code you
choose for secure use of (and access to) your NOWNOW account.
- "Products" refer to NOWNOW products, including person-to-person money
transfer, bill payments, airtime top-up and NOWNOW retail payments
- "Registered phone number" refers to any phone number that has been
registered on NOWNOW.
- "Services" any products and services provided to the customer as part of
- "SMS" or "Short Message Service" is a standard communication service on
GSM phones which is used to exchange short text messages between mobile
- "USSD" or "Unstructured Supplementary Service Data" is a real time
messaging channel accessed from a mobile phone and allows user to
interact with NOWNOW.
2. The NOWNOW Offering
- NOWNOW is a service offered by Contec Global Infotech Ltd and designed
to allow you to:
- Sign up as a customer
- Receiving access to our broad set of products and features within
- Credit a NOWNOW account with cash by
- depositing at our agent locations;
- transferring funds into NOWNOW from a Linked bank account; or
- receiving money into NOWNOW from another customer.
- depositing money at any of our collections banks.
- Pay or transfer money to another party for personal reasons or as
payment for physical or virtual goods or services already received or to
be received in the future.
- Receive money from another party for personal reasons or as payment for
physical or virtual goods or services already provided or to be provided
in the future.
- Perform a cash withdrawal at any of our agent locations.
- No interest will be paid on the balance in your NOWNOW account.
- Amounts loaded into a NOWNOW account will be available for transactions
immediately after it clears.
- These terms and conditions apply to all channels through which
transactions may be carried out on NOWNOW, including SMS; IVR; Online/
Internet; Online/Mobile phone application; USSD; and NOWNOW Agent
3. Opening a NOWNOW Account
- Customers who are under 18 years of age should review these terms and
conditions with a parent or guardian. We strongly recommend that minors
obtain consent from their parents or guardians before joining NOWNOW or
providing information to any third party or before sending any
information about themselves to anyone over any channel.
- In order to sign up to join NOWNOW, an active GSM or CDMA mobile phone
subscription on any supported mobile network is required.
- Customers are limited to one (1) NOWNOW account per phone number.
Multiple phone numbers can however be linked to the same account.
- To setup your account, NOWNOW requires your personal details including
your name and phone number. You must provide complete and accurate
information. Unregistered customers will be able to receive cash to
their phone number. They will also have limited use of NOWNOW pending
- In the process of verifying your identity, NOWNOW has the sole
discretion to refuse any account opening application for any number of
- You may access the available funds in your account at any time using any
of the channels you choose, including your mobile phone and the
Internet. While we make every reasonable attempt to provide the services
as described in our marketing and educational materials, we offer the
services "as is" and without any warranties.
- All payments will be processed in Nigerian local currency i.e. Naira.
- Each transaction will be identified by a unique 5-character Transaction
ID which is used to track and identify all transactions carried out on
the NOWNOW network. This number is important for a variety of uses,
including dispute resolution.
- NOWNOW will send you a message to verify and confirm all transactions
effected from your NOWNOW account or performed at an agent; this message
may be sent via SMS, email, or another available channel.
- You must authorise your transactions with your secret PIN, which you
create when you register, or by such other method as we may prescribe
from time to time.
- To manage your money safely there are daily limits on your account. You
can increase or reduce these limits by contacting Customer Services,
subject to the restrictions placed in terms of paragraphs 4.9.
- Your account will be credited with any deposits made into it, and the
credit will be available for transactions immediately after they are
cleared. However, should you want to make a cash withdrawal of funds you
deposited into your account at a NOWNOW agent, you will only be able to
do so free of charge 14 days after the cash deposit was made. Otherwise,
a charge is incurred for withdrawal of deposited funds.
- We will verify and confirm any record of a deposit into your account.
Our records will be taken as correct unless the contrary is proved.
- The table below outlines the customer classification NOWNOW adopts along
KYC levels along with the applicable transaction limits. You may not
withdraw, transfer or make any payments that together exceed any of the
per transaction or daily limits defined for your category. Should you
attempt to exceed any applicable limits, your transactions will be
declined. NOWNOW may, acting reasonably and in accordance with
regulation set by the Central Bank of Nigeria, vary the limits at any
time and any variation will be notified to customers.