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Terms & Conditions

Welcome to Akibay Pay

These Terms and Conditions ("Terms") govern access to and use of the Akibay Pay platform, website, applications, APIs, software and related services ("Akibay Pay", "Platform", "Service" or "Services") operated by Akibay Pay Solution, Kenya ("Akibay Pay", "we", "us" or "our").

By creating an account, subscribing to Akibay Pay, accessing the Platform or using any Akibay Pay Service, you agree to be bound by these Terms.

If you are using Akibay Pay on behalf of a Chama, group, organization, company or other entity, you confirm that you have the authority to accept these Terms on its behalf.

If you do not agree with these Terms, you must not use Akibay Pay.

1. Definitions

For purposes of these Terms:

  • "Akibay Pay" means the software platform and services operated by Akibay Pay Solution.
  • "Account" means an account created to access and use Akibay Pay.
  • "Administrator" means a person authorized by a Chama or organization to administer its Akibay Pay account.
  • "Chama" means a savings group, investment group, welfare group, association, organization or other group using Akibay Pay.
  • "Member" means an individual registered as a member of a Chama or organization using Akibay Pay.
  • "Customer" means a Chama, organization or other entity that subscribes to Akibay Pay.
  • "Payment Provider" means a third-party financial or payment service provider, including M-PESA and other providers that may be integrated with Akibay Pay.
  • "Content" means information, documents, records, photographs, minutes, financial records, member information and other information submitted to Akibay Pay.

2. About Akibay Pay

Akibay Pay is a software platform designed to assist Chamas and organizations with administration, financial record keeping, member management and related activities.

Depending on the subscription and configuration, Akibay Pay may provide:

  • Member management;
  • Member registration;
  • Savings management;
  • Contributions;
  • Monthly subscriptions;
  • Loan management;
  • Loan applications and approvals;
  • Loan repayments;
  • Welfare contributions;
  • Investment records;
  • Expense management;
  • Income and payment records;
  • Financial reports;
  • Meeting minutes;
  • Document management;
  • Notifications;
  • SMS communications;
  • Payment collection and reconciliation;
  • Statements;
  • User and administrator management;
  • Audit records; and
  • Other related administrative functionality.

The availability of particular features may depend on the Customer's subscription, configuration, technical availability and third-party integrations.

3. Akibay Pay Does Not Hold Customer Funds

Akibay Pay is a software and technology service provider.

Akibay Pay does not hold, store, receive, custody or maintain Customer or Member funds on behalf of a Chama.

Where payment functionality is provided, funds are transferred directly to the receiving account designated by the Customer. This may include a bank account, M-PESA PayBill, M-PESA Till or another supported receiving account.

Akibay Pay does not operate a customer wallet or deposit account.

Akibay Pay is not responsible for safeguarding funds held in a bank account, PayBill, Till or other account belonging to a Customer or third party.

Payment services may depend on third-party providers such as M-PESA. Their own terms, conditions, fees, transaction limits, availability requirements and privacy policies may apply.

4. Chama and Administrator Responsibilities

The Customer and its Administrators are responsible for:

  • Providing accurate information;
  • Maintaining accurate member records;
  • Configuring Chama rules and financial parameters correctly;
  • Ensuring that only authorized persons have administrator access;
  • Protecting usernames, passwords, PINs and authentication credentials;
  • Reviewing transactions and financial records;
  • Verifying payments;
  • Reviewing reports and statements;
  • Managing loans and approvals according to the Chama's own rules;
  • Ensuring that its activities comply with applicable law;
  • Obtaining any necessary consent or authority from its members;
  • Determining who should have access to member information;
  • Removing users who are no longer authorized;
  • Maintaining appropriate governance procedures; and
  • Informing Akibay Pay of suspected unauthorized access or security incidents.

Akibay Pay provides technology to facilitate administration. It does not determine the internal rules, financial decisions or governance of a Chama.

5. Member Responsibilities

Members are responsible for:

  • Providing accurate information;
  • Keeping their login credentials confidential;
  • Using their account only for authorized purposes;
  • Reviewing information associated with their account;
  • Reporting inaccurate information;
  • Reporting unauthorized transactions or access;
  • Complying with applicable laws and the rules of their Chama; and
  • Not attempting to gain unauthorized access to another person's account.

Members should contact their Chama Administrator regarding disputes concerning membership, contributions, loans, welfare, investments, expenses or other Chama decisions.

6. Financial Records and Decisions

Akibay Pay provides tools for recording and managing financial information.

Akibay Pay does not independently verify that:

  • A contribution was legitimately authorized;
  • A loan was properly approved;
  • An expense was legitimate;
  • A member is entitled to a particular payment;
  • A financial record entered by an Administrator is correct;
  • A Chama's investment decision is appropriate; or
  • A Chama's internal financial procedures comply with its constitution or rules.

Customers are responsible for reviewing and approving their own financial records and decisions.

Akibay Pay should not be regarded as providing financial, investment, accounting, legal or tax advice.

7. Loans

Where loan-management functionality is available, Akibay Pay provides technology for recording and administering loans according to parameters configured by the Customer.

The Customer is responsible for:

  • Loan eligibility rules;
  • Loan approval;
  • Interest rates;
  • Penalties;
  • Repayment schedules;
  • Guarantees;
  • Security arrangements;
  • Recovery procedures;
  • Member communications; and
  • Compliance with applicable law.

Akibay Pay does not guarantee repayment of loans and is not a party to loans between a Chama and its members unless expressly agreed in writing.

8. Payments

Akibay Pay may integrate with third-party payment providers, including M-PESA.

Payment transactions may be subject to:

  • Third-party availability;
  • Network connectivity;
  • Payment provider policies;
  • Transaction limits;
  • Payment provider fees;
  • Account configuration;
  • Regulatory requirements; and
  • Temporary service interruptions.

A payment shown as initiated does not necessarily mean that it has been successfully completed.

Customers should rely on confirmed transaction results and reconciliation records before treating a transaction as completed.

Akibay Pay may use transaction references, payment provider responses, callbacks and other technical information to reconcile payments.

9. Subscription Fees

Akibay Pay is provided on a subscription basis.

The standard subscription fee is currently: KES 1,000 per month per subscribed Chama/account, unless a different price is agreed with the Customer.

Akibay Pay reserves the right to introduce different plans, features or pricing.

Any pricing changes will be communicated to affected Customers before they take effect.

Unless otherwise agreed, subscription fees are payable in advance.

Failure to pay applicable subscription fees may result in:

  • Restrictions on account functionality;
  • Suspension of access;
  • Temporary deactivation of certain services; or
  • Termination of the subscription.

Akibay Pay will not intentionally delete Customer data solely because of a temporary payment failure without reasonable notice and an opportunity to resolve the outstanding amount.

10. Taxes and Third-Party Charges

Subscription fees may be subject to applicable taxes.

Payment providers, telecommunications providers or other third parties may charge separate fees.

Such third-party charges are the responsibility of the Customer unless expressly stated otherwise.

11. Documents and Uploaded Content

Customers and Members may upload documents including:

  • Meeting minutes;
  • Identification documents;
  • Supporting financial documents;
  • Agreements;
  • Receipts;
  • Reports; and
  • Other documents relevant to the Customer's activities.

The person uploading Content must have the legal right and authority to upload it.

Customers are responsible for ensuring that uploaded Content is lawful and does not infringe another person's rights.

Akibay Pay may process uploaded Content solely for purposes of providing the Services, maintaining security, complying with legal obligations and performing other legitimate operational functions described in the Akibay Pay Privacy Policy.

12. Personal Data

Akibay Pay processes personal information in accordance with its Privacy Policy.

Where a Customer uses Akibay Pay to store or manage information relating to its members, the Customer may determine the purposes for which that information is processed and Akibay Pay may process the information on behalf of the Customer.

Customers must therefore ensure that they have an appropriate legal basis and authority to provide member information to Akibay Pay.

Akibay Pay will implement reasonable technical and organizational measures appropriate to the nature of the information processed.

13. Security

Akibay Pay takes reasonable measures to protect the Platform and information processed through it.

However, no internet-based service can be guaranteed to be completely secure.

Risks may include:

  • Unauthorized access;
  • Credential theft;
  • Malware;
  • Phishing;
  • Network attacks;
  • Device compromise;
  • Human error;
  • Third-party service failures; and
  • Other events outside Akibay Pay's reasonable control.

Customers must promptly notify Akibay Pay of suspected unauthorized access or security incidents.

14. Availability

Akibay Pay will make reasonable efforts to keep the Service available.

The Service may occasionally become unavailable due to:

  • Maintenance;
  • Software updates;
  • Server failures;
  • Internet connectivity problems;
  • Cybersecurity incidents;
  • Third-party service failures;
  • Payment-provider outages;
  • SMS-provider outages;
  • Force majeure events; or
  • Other circumstances beyond Akibay Pay's reasonable control.

Akibay Pay does not guarantee uninterrupted or error-free availability.

15. Third-Party Services

Akibay Pay may rely on third-party services including hosting providers, payment providers, SMS providers, telecommunications networks and other technology providers.

These may include:

  • M-PESA;
  • SMS service providers; and
  • Contabo or other infrastructure and hosting providers.

Third-party services are governed by their respective terms and policies.

Akibay Pay is not responsible for outages, failures or changes made by third-party providers that are outside Akibay Pay's reasonable control.

16. Prohibited Activities

You must not use Akibay Pay to:

  • Commit fraud;
  • Facilitate money laundering;
  • Conduct unlawful financial activities;
  • Obtain unauthorized access;
  • Circumvent security controls;
  • Introduce malware;
  • Attack or disrupt the Platform;
  • Reverse engineer the Platform except where expressly permitted by law;
  • Attempt to access another Customer's data;
  • Abuse payment integrations;
  • Upload unlawful or malicious Content;
  • Impersonate another person;
  • Misrepresent financial records intentionally;
  • Violate another person's privacy;
  • Infringe intellectual property rights; or
  • Conduct any activity prohibited by Kenyan law.

Akibay Pay may suspend or terminate accounts involved in prohibited activities.

17. Intellectual Property

Akibay Pay and its underlying software, designs, interfaces, source code, trademarks, logos, documentation and technology are owned by or licensed to Akibay Pay Solution.

Except for the limited right to use the Platform under these Terms, no intellectual property rights are transferred to the Customer.

Customers retain ownership of their own Content.

By uploading Content, the Customer grants Akibay Pay a limited right to host, process, transmit, back up and otherwise use that Content solely as reasonably necessary to provide the Services and comply with legal obligations.

18. Customer Data

Customers retain ownership of their data.

Akibay Pay will not sell Customer financial records or member records to third parties for unrelated commercial purposes.

Akibay Pay may process Customer data where necessary to:

  • Provide the Services;
  • Maintain and secure the Platform;
  • Provide support;
  • Process payments;
  • Send notifications;
  • Perform backups;
  • Diagnose technical problems;
  • Comply with legal obligations;
  • Prevent fraud and abuse; or
  • Protect its rights and the rights of users.

19. Account Suspension and Termination

Akibay Pay may suspend or terminate access where:

  • Subscription fees remain unpaid;
  • The account is used unlawfully;
  • The account presents a security risk;
  • These Terms are materially breached;
  • Fraud is suspected;
  • The Platform is abused; or
  • Suspension is required by law or a competent authority.

Where reasonably possible, Akibay Pay will provide notice before suspension or termination.

20. Customer Cancellation

A Customer may cancel its subscription by contacting Akibay Pay or using any available account cancellation functionality.

Cancellation does not automatically extinguish outstanding financial obligations between a Chama and its members.

Customers remain responsible for their own records and should export or otherwise retain information they require before terminating their account.

21. Data After Termination

Following termination, Akibay Pay may retain certain information where necessary for:

  • Legal compliance;
  • Accounting and tax purposes;
  • Fraud prevention;
  • Dispute resolution;
  • Security;
  • Enforcement of contractual rights; or
  • Other legitimate purposes.

Other Customer data may be deleted or anonymized in accordance with Akibay Pay's retention practices and applicable law.

22. No Guarantee of Financial Accuracy

Akibay Pay provides software for recording and managing information.

Akibay Pay does not guarantee that information entered by Customers or Members is accurate, complete or current.

Customers are responsible for reconciling their records with their actual bank, M-PESA or other receiving accounts.

23. Disclaimer

To the maximum extent permitted by applicable law, Akibay Pay provides the Platform on an "as available" basis.

Akibay Pay does not guarantee that:

  • The Platform will always be available;
  • The Platform will be completely error-free;
  • Every payment will succeed;
  • Third-party services will remain available;
  • Information entered by users will be accurate;
  • The Platform will satisfy every Customer requirement; or
  • Data will never be affected by an unforeseen security incident.

Nothing in these Terms excludes liability that cannot lawfully be excluded under Kenyan law.

24. Limitation of Liability

To the maximum extent permitted by law, Akibay Pay shall not be liable for indirect, incidental, special, consequential or punitive losses arising from use of the Platform.

This includes losses arising from:

  • Loss of profits;
  • Loss of business;
  • Loss resulting from inaccurate information entered by users;
  • Chama disputes;
  • Unauthorized decisions by Administrators;
  • Failure of third-party payment providers;
  • Network failures;
  • Third-party service interruptions; or
  • Events beyond Akibay Pay's reasonable control.

Nothing in these Terms limits liability where such limitation is prohibited by applicable law.

25. Indemnification

To the extent permitted by law, the Customer agrees to indemnify and hold Akibay Pay Solution harmless from claims, losses, liabilities and reasonable expenses arising from:

  • The Customer's unlawful use of Akibay Pay;
  • Violation of these Terms;
  • Unauthorized use of member information;
  • Infringement of third-party rights;
  • Fraudulent activity;
  • Content uploaded by the Customer; or
  • Disputes arising from the Customer's internal Chama decisions.

26. Changes to the Service

Akibay Pay may modify, add, remove or discontinue features.

Where a material change substantially affects the Customer's use of the Service, Akibay Pay will provide reasonable notice where practicable.

27. Changes to These Terms

Akibay Pay may update these Terms from time to time.

The updated Terms will be published through the Platform or website.

Continued use of Akibay Pay after the effective date of updated Terms constitutes acceptance of the updated Terms, except where applicable law requires a different form of acceptance.

28. Governing Law

These Terms shall be governed by and interpreted in accordance with the laws of the Republic of Kenya.

Any dispute that cannot be resolved amicably shall be submitted to the courts of competent jurisdiction in Kenya, unless the parties agree to another lawful dispute-resolution mechanism.

29. Severability

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.

30. Entire Agreement

These Terms, together with the Akibay Pay Privacy Policy and any other written agreements expressly incorporated into the Customer's subscription, constitute the agreement governing use of Akibay Pay.

31. Contact

For questions regarding these Terms, please contact:

Akibay Pay Solution
Kenya
Phone: +254 716 327 828 | +254 723 947 679 | +254 726 860 901
Email: support@akibapay.africa
Website: www.akibapay.africa