1. Introduction
Welcome to NXT, a digital payments and wallet application that allows users to deposit funds,
withdraw funds, make payments to merchants, receive payouts, and send or request NXT from friends.
By registering, accessing, or using NXT, you agree to these Terms & Conditions (“Terms”). Please read them
carefully. If you do not agree to these Terms, you must stop using NXT immediately.
2. Definitions
In these Terms:
- “NXT” / “we” / “us” / “our” refers to NXT Payments (Pty) Ltd or its operating entity.
- “User” / “you” refers to any person using the NXT application.
- “NXT Balance” means the digital value displayed in your NXT wallet.
- “Merchant” means any business that accepts payments or sends payouts via Ethereum rails supported by NXT.
- “Transaction” means any deposit, withdrawal, payment, payout, or transfer carried out through the NXT platform.
3. Eligibility
To use NXT, you must:
- Be at least 18 years old;
- Have a valid mobile number in international format;
- Provide accurate personal information when required; and
- Comply with all local laws in your jurisdiction.
We may request KYC (Know Your Customer) documents at any time and reserve the right to suspend accounts
that fail verification.
4. Account Registration & Login
- You must register with a valid mobile number and create a secure password.
- You are responsible for keeping your login details confidential.
- Any activity under your account is considered authorised by you.
- If you suspect unauthorised access, you must notify us immediately.
5. Deposits
- Deposit options depend on your country and the payment providers available.
- Deposit amounts are shown in local currency, and your NXT balance will update once the payment provider confirms the transaction.
- Processing times vary by provider but are typically completed within minutes.
- We may charge deposit fees or third-party fees where applicable.
6. Withdrawals
- Withdrawals can be requested to supported bank accounts or mobile money accounts.
- Once you confirm a withdrawal, it is irreversible.
- Withdrawals are processed to the mobile number or account details you provide. You are responsible for ensuring these details are correct.
- We are not responsible for incorrect details supplied by the user.
Important: Once a withdrawal is confirmed, it cannot be refunded, reversed, or stopped. Please double-check all details before confirming.
7. Merchant Payments
NXT allows you to make international merchant payments using Ethereum payment rails
without needing your own crypto wallet.
- Payments require scanning or entering a merchant’s Ethereum address or QR code.
- If you enter or scan the wrong address, the funds may be permanently lost.
- NXT cannot reverse or refund payments sent to the wrong address.
- You must always verify the destination address and payment amount before confirming the transaction.
Important: Transactions sent to the wrong address cannot be reversed. Always double-check the address and the amount.
8. Receiving Merchant Payouts
You may receive payouts from merchants that support Ethereum withdrawals by providing your NXT wallet address or QR code.
- Payouts are credited to your NXT balance once confirmed by the merchant and the underlying network.
- If you provide an incorrect address to a merchant, the payout may be lost and cannot be recovered by NXT.
9. Sending & Requesting NXT Between Friends
NXT allows you to send NXT to friends or request NXT from them via the app.
- Transfers between users are typically instant.
- Once confirmed, transfers are irreversible.
- If you send NXT to the wrong contact, you must request a refund directly from that user.
Important: Once you send NXT to a friend, the transaction cannot be reversed by NXT. Make sure you select the correct contact and amount.
10. Invite a Friend
NXT allows you to invite friends to the platform using your device’s contact list.
By using this feature, you confirm that you have permission to send invitations to the selected contacts
via your preferred messaging apps (such as WhatsApp, Telegram, or SMS).
11. Fees & Charges
- NXT may charge fees on deposits, withdrawals, currency conversions, merchant payments, or other services.
- Where possible, fees will be displayed before you confirm a transaction.
- Banks, mobile money operators, and other third-party providers may also charge their own fees.
12. Transaction Irreversibility
Most NXT transactions cannot be cancelled, changed, or refunded after you confirm them, including:
- Merchant payments
- Merchant payouts
- Withdrawals
- Transfers between friends
You are responsible for checking all transaction details carefully before confirming.
13. Security
- NXT uses industry-standard security measures to protect your account and transactions.
- You must keep your device secure and protect it with a PIN, password, or biometric security where possible.
- Do not share your NXT login details with anyone.
- If your device is lost or compromised, you should contact NXT Support immediately.
14. Prohibited Use
You may not use NXT for any unlawful or prohibited purpose, including but not limited to:
- Fraud, scams, or unauthorised transactions;
- Money laundering or terrorism financing;
- Illegal gambling, illegal trade, or any activity that violates applicable laws;
- Circumventing sanctions or domestic regulations;
- Abusing promotions, referral programmes, or exploiting vulnerabilities in the platform.
We reserve the right to suspend or close accounts involved in prohibited activities.
15. Support & Communication
NXT provides multiple support channels, which may include:
- Email support for transactional issues (proof of payment may be required for investigations).
- WhatsApp or in-app chat support for general queries.
- Access to transaction history and statements from within the app.
16. Limits, Holds & Suspensions
We may apply limits or restrictions to your account at our discretion, including:
- Daily, weekly, or monthly transaction limits;
- Temporary holds on specific transactions or funds; and
- Partial or full account suspension.
These measures may be applied if, for example:
- We detect unusual or suspicious activity;
- We cannot verify your identity or information; or
- We reasonably believe that you have breached these Terms or applicable laws.
17. Liability
To the maximum extent permitted by law, NXT and its affiliates are not liable for:
- Losses arising from incorrect addresses or account details entered by you;
- Delays or failures caused by third-party payment providers, banks, mobile money networks, or blockchain networks;
- Loss of funds due to the irreversible nature of blockchain transactions;
- Unauthorised access to your account resulting from your failure to keep your device or login details secure; or
- Indirect, incidental, special, or consequential damages.
NXT is provided on an “as is” and “as available” basis, without any warranties of uninterrupted or error-free service.
18. Closing Your Account
- You may request to close your NXT account at any time, provided there are no pending transactions or disputes.
- Any remaining balance must be withdrawn before closing your account, subject to applicable limits and fees.
- We may retain certain records as required by law and for legitimate business purposes.
19. Changes to These Terms
We may update these Terms from time to time. When we make material changes, we will take appropriate steps to
notify you, such as updating the “Last Updated” date, sending a notification, or prompting you to accept the
revised Terms in the app.
Your continued use of NXT after the effective date of any changes constitutes your acceptance of the updated Terms.
20. Governing Law
These Terms are governed by the laws of United Arab Emirates. Any disputes arising out of or in
connection with these Terms shall be subject to the exclusive jurisdiction of the courts of that jurisdiction.
21. Contact Information
If you have any questions about these Terms or your NXT account, you can contact us at:
