Terms of Service
Last updated: 9 October 2026
1. About PaySphere
PaySphere is owned and operated by Alphastrive Company Limited ("PaySphere", "we", "us", "our"). PaySphere is a Nigerian web and mobile platform. Depending on what we have switched on for your account, you may sell gift cards for NGN, hold an NGN wallet, withdraw to a Nigerian bank, pay listed bills, receive supported cryptocurrencies that are converted to NGN, buy eSIM data plans, and order gadgets. A plain-language walk-through of each step is at paysphere.ng/legal/how-paysphere-works. That page does not replace these Terms. By creating an account or using the platform, you agree to these Terms. If you do not agree, do not use PaySphere.
2. Not a Bank
PaySphere is not a bank and is not insured by the Nigerian Deposit Insurance Corporation (NDIC). Funds held in your PaySphere wallet are not bank deposits.
3. Fees and Rate Changes
Gift card and crypto conversion rates can change at any time and apply to the next trade or inbound conversion. We will give 7 days notice before we introduce a new fee on an existing wallet balance or withdrawal that we already advertised as free.
4. Anti-Money Laundering & Know Your Customer
We run identity checks, including BVN and a selfie, to reduce fraud and to meet Nigerian financial-crime rules. We may report suspicious activity to the Nigerian Financial Intelligence Unit (NFIU) or other authorities where the law requires it. Completing KYC is required before withdrawals and before full trading limits.
5. Safeguarding of Customer Funds
Customer wallet balances are held in segregated accounts and are not used for PaySphere operational expenses.
6. Escalation of Unresolved Disputes
If internal dispute resolution fails you may escalate to the Nigeria Data Protection Commission (NDPC) or seek arbitration under the Arbitration and Conciliation Act.
7. Force Majeure
PaySphere shall not be liable for delays or failures caused by circumstances beyond our reasonable control including but not limited to power outages, internet disruptions, regulatory actions or acts of God.
8. Eligibility
You must be at least 18 years old and a resident of Nigeria to use PaySphere. PaySphere is currently offered to Nigerian users only. By registering, you confirm that all information you provide is accurate, current, and belongs to you.
9. Account Registration & BVN Verification
To trade on PaySphere, you must complete identity verification, including providing your Bank Verification Number (BVN). BVN verification is required to comply with Nigerian financial regulations and to protect the platform and its users from fraud. You are responsible for keeping your account credentials confidential.
10. Nature of the Service
When you sell a gift card, PaySphere reviews the card and, if we accept it, credits NGN to your wallet. We do not manufacture, issue, or guarantee any gift card. The NGN rate is set by us and can change before you submit. The rate that applies is the rate shown at submission.
11. Prohibited Activities
You agree not to: submit fraudulent, stolen, counterfeit, or previously used gift cards; attempt money laundering or any other financial crime; create or operate multiple accounts; misrepresent your identity or the source of any card or funds; or otherwise use PaySphere for any unlawful purpose. Violations may be reported to the appropriate law enforcement or regulatory authorities.
12. Trade Processing & Payments
Trades are reviewed and verified by PaySphere before payment is made. Once a trade is marked as paid, funds are credited to your PaySphere wallet and the trade is final. Withdrawals from your wallet to your bank account are subject to identity verification and any applicable processing times.
13. Account Suspension & Termination
We reserve the right to suspend or terminate your account at our sole discretion, without prior notice, where we suspect fraudulent activity, a violation of these Terms, chargebacks, or any activity that puts the platform or its users at risk.
14. Dispute Resolution
If you believe a trade was processed incorrectly, you must raise the issue with our support team as described in our Refund & Dispute Policy. We will investigate in good faith and aim to resolve disputes promptly. Where a dispute cannot be resolved directly, either party may pursue resolution through the courts of Nigeria.
15. Limitation of Liability
To the fullest extent permitted by law, PaySphere is not liable for indirect, incidental, or consequential damages arising from your use of the platform, including losses relating to rate changes, delays, or the rejection of an invalid card.
16. Changes to These Terms
We may update these Terms from time to time. Continued use of PaySphere after changes are posted constitutes your acceptance of the revised Terms.
17. Governing Law
These Terms are governed by the laws of the Federal Republic of Nigeria. Any dispute arising from these Terms or your use of PaySphere is subject to the exclusive jurisdiction of the courts of Nigeria.
18. Company Information
Alphastrive Company Limited, RC 7467693, Lagos, Nigeria, [email protected]
19. Virtual Dollar Cards
Virtual dollar cards are not generally available. If we enable them later, they will be issued by a partner (not by PaySphere as a card scheme member). Partner and network rules will apply. A waitlist is not a card, not a credit line, and not a promise that we will issue you a card.
20. Cryptocurrency Receive and Conversion
We do not give you a crypto balance and we do not store private keys. If crypto receive is on for your account, we (through our partner, currently Bitnob) give you a receive address. Supported coins sent to that address on the listed network are converted to NGN at the rate at confirmation and credited to your NGN wallet. You receive NGN only. Sending crypto out of PaySphere is not available. Conversion is final. Wrong network or wrong address usually means the value cannot be recovered. Whether this receive-and-convert service requires a specific licence is a matter of applicable law. By using it you confirm you are not receiving proceeds of a crime.
21. eSIM Services
PaySphere may offer eSIM data plans through third-party network providers. eSIM activation and data services are subject to the terms and coverage maps of the underlying network provider. PaySphere is not liable for service outages, data speeds, or coverage gaps caused by the network provider. Unused eSIM data may not be refundable once the eSIM is activated. Compatibility with your device is your responsibility to verify before purchase.
22. Gadget Store
PaySphere may offer a gadget marketplace where users can purchase electronics and accessories. Listings are sourced after you pay; PaySphere does not operate a Nigerian warehouse for these goods. Prices are in Naira and may change without notice. Delivery times are estimates. You must accept the gadget checkout terms before payment. After delivery is marked, you have 24 hours to upload an unboxing video of the sealed package on the order page. If you do not upload within that window, every claim (including damage, defect, wrong item, or refund) is void. Damage after the package is opened is not refundable. Dead-on-arrival claims are only considered if a valid unboxing video was uploaded in time. PaySphere is not the manufacturer and does not give a manufacturer warranty. Support for an existing order is available from the order page (including WhatsApp), not as a substitute for checkout.
23. Gift Card Purchases
Buying gift cards with your wallet is not generally available. If we enable it, sales will be final once the code is delivered, and the brand's own rules will apply.
24. Referral Program
PaySphere may operate a referral program that awards bonuses or credits when you invite new users who successfully register and complete a qualifying trade or transaction. Referral bonuses are credited at PaySphere's sole discretion and subject to change or termination at any time. Self-referrals or referrals made through fraudulent means will result in forfeiture of bonuses and may result in account suspension. Referral credits cannot be exchanged for cash unless explicitly stated.
25. Points and Rewards
PaySphere may operate a points or rewards system that recognises trading activity, streaks, or user levels. Points and rewards have no cash value and cannot be transferred, sold, or redeemed for currency. PaySphere reserves the right to modify, suspend, or terminate the rewards program at any time without notice. Points expire if your account is inactive for more than 180 days or upon account termination.
26. Contact
Questions about these Terms can be sent to [email protected].