1. Acceptance of Terms
By accessing or using any services provided by Fyatu Financial Technologies Limited (“Fyatu”), you agree to be bound by these Terms of Service (“Terms”). If you do not agree, you may not access or use the platform, APIs, or any services. All services are provided on an “as-is” basis.
These Terms constitute the principal agreement between you (“Client”) and Fyatu. For matters not covered herein, Fyatu may publish supplementary policies on the website. Acceptance of these Terms means consent to both these Terms and all such policies.
2. Fyatu Entities
Fyatu operates through the following registered entity:
- FYATU FINANCIAL TECHNOLOGIES LIMITED — Tanzania, Company No. 173235208
References to “Fyatu,” “we,” “us,” or “our” mean Fyatu Financial Technologies Limited.
3. Services
Fyatu provides the following to card programme operators (“Clients”):
- Card Issuing API — Visa and Mastercard virtual and physical card issuance via REST API, under regulated BIN Sponsors
- Card Programme Management — Dashboard, cardholder management, spend controls, reporting, and reconciliation
- KYC Workflows — Managed KYC or Shared KYC for cardholder verification, per agreement
- Transaction Processing — Real-time authorisation, settlement, and transaction webhooks
- Wallet & Funding Infrastructure — Programme balance funded via stablecoins (USDT/USDC) and supported payment rails
- Add-on Capabilities — 3D Secure 2.0, Apple Pay / Google Pay tokenisation, JIT Authorization, and real-time partner authorisation
Fyatu reserves the right to modify, add, or discontinue any service with reasonable notice.
Excluded: Physical card manufacturing beyond standard runs, custom platform development, networks other than Visa/Mastercard, and first-line cardholder support remain the Client’s responsibility.
4. Eligibility
Fyatu’s services are available exclusively to legally registered businesses and their authorised representatives. By using Fyatu, you represent that:
- Your entity is duly incorporated and in good standing under applicable laws
- You are authorised to bind your entity to these Terms
- Your use does not violate any applicable law or regulation
- Your entity is not subject to sanctions or restricted lists (UN, EU, OFAC, or other authorities)
Fyatu reserves the right to limit, suspend, or terminate access in any jurisdiction for legal, regulatory, or compliance reasons.
5. Registration and Verification
To open an account, you must complete registration by providing accurate information and accepting these Terms. You must provide: company legal name, country of incorporation, registered address, director details, business description, and authorised signatory information.
To access the full platform (verified account), you must complete identity verification by submitting: incorporation documents, certificate of good standing, authorised signatory documents, and beneficial owner details, plus any additional information required by our AML Policy.
Verification is typically completed within 24 hours but may take longer for enhanced due diligence. Incomplete or inaccurate submissions will result in account limitations. You must notify us promptly of any changes to your verification data.
6. Programme Account
Upon registration, your account is created with a USD-denominated programme balance. This balance is used to settle fees and back card spend. Funds can be held indefinitely. Transaction and balance limits apply based on your verification status and are communicated separately.
You are responsible for keeping API credentials and login details confidential. All actions performed with valid credentials are deemed your actions. You must notify us immediately of any unauthorised access or security breach.
Fyatu may lock your account without prior notice for security reasons, suspected fraud, or violations of these Terms.
7. Client Responsibilities
As a card programme operator, you are responsible for:
- Cardholder identity verification and KYC compliance (under Shared KYC), or ensuring Fyatu’s Managed KYC is correctly configured
- Publishing and enforcing end-user terms of service for your cardholders
- AML/CFT compliance in all markets where your programme operates
- Programme-level fraud monitoring and controls
- Holding all regulatory licences required to operate a card programme in your target markets
- Ensuring your cardholders do not engage in prohibited activities (see Section 11)
- Notifying Fyatu promptly of any regulatory investigation, fraud incident, or material change to your business
8. Card Issuance and Management
Cards are issued through licensed BIN Sponsor partners and are subject to Visa/Mastercard network rules. You may issue cards subject to the limits and fees in your pricing schedule.
You are responsible for all transactions on cards issued under your programme. Chargebacks, disputes, and network fines arising from your programme are your responsibility. Fyatu may suspend any card or your entire programme for security reasons, regulatory requirements, or at the direction of a BIN Sponsor.
9. Fees and Billing
Fees for all services are detailed in your Pricing & Commercial Terms schedule. Fyatu does not take a percentage of fees you charge your cardholders.
Fyatu issues an invoice for the Monthly Platform Fee five (5) days before the current billing period ends. Payment is due by the first day of the new period. If unpaid by the due date, default rates apply to five specific fee categories until the invoice is settled — the programme continues operating. Per-unit fees are charged to your Programme Balance as they occur.
Fyatu may adjust per-unit fees once per calendar year on 30 days’ notice. The Monthly Platform Fee is fixed for the Initial Term.
10. Your Responsibilities
You agree to:
- Provide accurate, current, and complete information at all times
- Keep API credentials and login details confidential
- Notify us immediately of unauthorised access or security breaches
- Maintain a sufficient Programme Balance to cover card spend and fees
- Use secure, up-to-date systems for API integration
- Not use the platform for illegal purposes or Prohibited Activities (see Section 11)
- Accept responsibility for your cardholders’ transactions, chargebacks, and disputes
- Comply with the laws of all jurisdictions in which your programme operates
11. Prohibited Activities
The following are strictly prohibited:
- Money laundering, terrorist financing, or sanctions evasion
- Fraud, identity theft, or misrepresentation
- Unlicensed financial or investment services
- Gambling or betting (unless specifically authorised in writing by Fyatu)
- Purchase, sale, or facilitation of illegal goods (drugs, weapons, counterfeit items)
- Distribution of malicious software or hacking tools
- Circumventing platform security measures or rate limits
- Reselling or sublicensing API access to third parties
- Impersonating Fyatu or its representatives
A full list of prohibited goods and services is published in our Acceptable Use Policy. Violations may result in immediate programme suspension, fund freezing, reporting to authorities, and legal action.
12. Liability and Disclaimer
The Client is solely responsible for losses, chargebacks, fines, fraud losses, and regulatory sanctions arising from its card programme — including its cardholders’ conduct, its KYC processes, and any breach of law or card-network rules.
Fyatu is not liable for:
- Losses arising from unauthorised access caused by the Client’s negligence
- Third-party payment service failures or delays
- System downtime for maintenance or causes beyond our control
- The Client’s violation of applicable laws or card-network rules
- Indirect, consequential, or lost-profit damages
- Transaction approval rates, network availability, or BIN Sponsor uptime
Fyatu’s total liability under these Terms is capped at the Monthly Platform Fee paid in the calendar month immediately preceding the event giving rise to the claim.
The Client will indemnify Fyatu against all claims, costs, and legal fees arising from the Client’s programme operation, its cardholders’ conduct, regulatory investigations of the Client, or any breach of these Terms.
13. Platform Licence
Fyatu’s platform, APIs, code, brand, and documentation are proprietary to Fyatu. The Client receives a limited, non-transferable, revocable licence to use them solely to operate its card programme. The Client may not reverse-engineer the platform, resell or sublicense API access to third parties, or use Fyatu’s brand without prior written consent.
The Client owns its transaction and cardholder data. Fyatu may use anonymised, aggregated data for platform improvement.
14. Confidentiality
Each party will keep the other’s non-public information confidential. For the Client, this means Fyatu’s pricing, API credentials, and non-public technical specifications. For Fyatu, this means the Client’s business information and cardholder data. The existence of the commercial relationship between the parties is not confidential. Confidentiality obligations survive termination for two (2) years.
15. Communication
All operational communication between Fyatu and the Client takes place exclusively through two channels: a dedicated shared Slack channel created for each Client at programme activation, and email. Fyatu will not accept support requests, escalations, or formal notices through any other channel.
Upon go-live, Fyatu will invite the Client’s designated contacts to a shared Slack channel. This channel is the primary channel for day-to-day support, technical queries, and incident communication. For formal notices (termination, amendments, legal matters), email is required: [email protected] for legal matters, [email protected] for commercial matters. Communication is available in English and French.
16. Amendments and Termination
Amendments: Fyatu may update these Terms by publishing the revised text on the website with at least 30 days’ notice. Continued use after the effective date constitutes acceptance. Per-unit fee changes may take effect with shorter notice as described in Section 9.
Termination by the Client: The Client may terminate with 30 days’ written notice after the Initial Term.
Termination by Fyatu: Fyatu may terminate with 30 days’ written notice after the Initial Term. Fyatu may terminate immediately — without notice — for: insolvency, fraud or illegal activity, material breach of card-network rules, or invoices unpaid for 60+ days.
Wind-down on termination: On termination, Fyatu will terminate all active cards, refund card balances to the Programme Balance, refund the Programme Balance (net of outstanding fees and disputes) to the Client’s designated account within two (2) calendar days, and export Client data in standard formats (CSV, JSON). Where funds are held by a BIN Sponsor or banking partner, release may take up to 14 calendar days.
Setup fees and already-paid Monthly Platform Fees are non-refundable.
17. Governing Law and Disputes
These Terms are governed by the laws of the United Republic of Tanzania. Disputes will first be submitted to good-faith negotiation for 30 days. If unresolved, disputes will be referred to binding arbitration under the UNCITRAL Arbitration Rules, seated in Dar es Salaam, conducted in English.
18. Contact
For questions about these Terms or legal matters:
- Legal inquiries: [email protected]
- Business & onboarding: [email protected]
- General support: [email protected]
Appendix: Prohibited Goods and Services
The following are prohibited for sale, purchase, or facilitation via Fyatu:
- Weapons, ammunition, and defense products
- Drugs, controlled substances, and production materials
- Prescription medications and production instructions
- Falsified identification or government documents
- Hacking devices, malicious software, and exploit tools
- Stolen personal data or spam-related services
- Goods or services violating intellectual property rights
- Child exploitation material
- Counterfeit or fake goods
- Explosive, toxic, or radioactive materials
- Unlicensed financial or investment services
- Gambling, lotteries, and betting (unless authorised in writing by Fyatu)
- Any services promoting violence, terrorism, discrimination, or hatred
- Advertising or promotion of any items listed above