Ant Merchant Service Agreement

Effective Date: April 7, 2025

This Merchant Service Agreement (“Agreement”) is made between Ant Technology Limited (“Ant”, “we”, “us”, or “our”) and you (“Merchant”, “you”, or “your”). This Agreement governs your use of Ant’s payment processing services (the “Services”) to accept and manage payments.

1. Definitions

• Merchant: The business or individual using Ant’s Services.

• Services: The payment processing, settlement, reporting, and support services provided by Ant.

• Transaction: Any payment received by you via the Platform.

• Settlement Account: The bank account designated by you to receive funds from processed Transactions.

• Chargeback: A reversal of a Transaction initiated by the customer’s bank.

2. Scope of Services

Ant provides you with a platform to:

• Accept payments via multiple methods (e.g., debit/credit cards, bank transfers, mobile payments).

• View and manage Transaction histories.

• Settle funds directly into your designated Settlement Account.

• Access business tools and analytics designed to help you grow your business.

3. Merchant Obligations

As a Merchant, you agree to:

• Compliance: Use the Services only for lawful business purposes and in compliance with all applicable laws and industry standards.

• Accurate Information: Provide and maintain accurate business information, including your Settlement Account details.

• Transaction Integrity: Ensure all Transactions are genuine, and clearly represent the goods or services provided.

• Security: Implement reasonable security measures to protect customer data and promptly report any suspected fraud or security breaches.

• Communication: Clearly disclose your refund, return, and cancellation policies to your customers.

4. Fees and Settlement

• Fees: You will be charged processing fees as detailed in our pricing schedule. These fees may include a fixed fee per Transaction and/or a percentage of the Transaction amount.

• Billing and Taxes: All fees are exclusive of applicable taxes. You are responsible for any taxes that apply.

• Settlement Schedule: Funds from Transactions (net of fees) will be settled to your designated Settlement Account within the next business day (T+1) or as soon as possible if “instant settlement” is activated by the merchant – subject to instant settlement terms. In any case, Ant reserves the right to withhold funds in cases of suspected fraud or other risk factors.

5. Chargebacks and Refunds

• Chargebacks: You are responsible for managing any chargebacks or disputes. Ant will notify you of any chargebacks, and you must respond promptly with the necessary documentation.

• Refunds: Refunds must be processed in accordance with your published policies. Processing fees may not be refunded.

6. Security and Data Protection

• Data Security: Ant employs industry-standard security measures (e.g., encryption, firewalls) to protect your and your customers’ data. However, you are responsible for maintaining the security of your account credentials.

• Cookies and Tracking: We use cookies and similar technologies to monitor and improve the Services. By using the Services, you consent to this use.

7. Term and Termination

• Term: This Agreement is effective on the Effective Date and will continue until terminated by either party.

• Termination: Either party may terminate this Agreement with 30 days’ written notice. Ant may suspend or terminate your access immediately for any breach of this Agreement or if fraudulent activity is suspected.

• Effect of Termination: Upon termination, all rights granted to you under this Agreement will cease. You remain liable for any Transactions or fees incurred prior to termination.

8. Indemnification

You agree to indemnify, defend, and hold harmless Ant, its officers, directors, employees, and agents from any claims, losses, or expenses (including reasonable attorney fees) arising from your breach of this Agreement, unlawful use of the Services, or violation of any laws or third-party rights.

9. Limitation of Liability

To the maximum extent permitted by law, Ant’s total liability under this Agreement will not exceed the total fees paid by you in the three (3) months preceding the event giving rise to the claim. Ant is not liable for any indirect, incidental, or consequential damages.

10. Governing Law and Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of Nigeria. Any disputes shall be resolved through binding arbitration in accordance with Nigerian law.

11. Miscellaneous

• Entire Agreement: This Agreement, along with any schedules and policies incorporated herein by reference, constitutes the entire agreement between the parties.

• Amendments: Ant reserves the right to modify this Agreement. Material changes will be communicated to you, and continued use of the Services constitutes acceptance of the updated terms.

• Assignment: You may not assign this Agreement without our prior written consent.

12. Contact Information

For questions or issues regarding this Agreement, please contact us at:

• Email: support@ant.africa

• Website: https://ant.africa