1. Introduction & Acceptance
These Merchant Terms of Service ("Terms") govern your access to and use of the VistaLock merchant onboarding portal, dashboards, APIs, and related services (collectively, the "Platform") operated by Vistapro Limited ("Vistapro", "we", "us", or "our"), a company incorporated in the Federal Republic of Nigeria (CAC RC8204344). VistaLock is the trading brand under which the Platform is provided.
By creating a merchant account, submitting an application, or using the Platform, you ("Merchant", "you", or "your") agree to be bound by these Terms, our Privacy Policy, and all policies referenced herein. If you do not agree, you must not use the Platform.
These Terms constitute a binding agreement under the laws of Nigeria, including the Nigeria Data Protection Act 2023 (NDPA), the Nigeria Data Protection Regulation (NDPR) 2019, the Federal Competition and Consumer Protection Act (FCCPA) 2018 where applicable to B2B arrangements, and applicable Central Bank of Nigeria (CBN) guidelines for payment system participants and consumer credit arrangements.
2. Eligibility & Onboarding
You represent that you are a duly registered business in Nigeria (or an authorised sole proprietor with valid Business Name registration), that you have authority to bind the business, and that all information supplied during onboarding is accurate, complete, and not misleading.
VistaLock may verify your identity and business credentials using NIN, BVN, CAC records, tax identification, bank account validation, and other lawful sources. Submission of false or forged documents is grounds for immediate rejection and may be reported to relevant authorities.
- Valid Corporate Affairs Commission (CAC) registration or Business Name certificate where applicable
- Accurate director/principal identification and contact details
- Settlement bank account in the legal or trading name of the business
- Compliance with Know-Your-Customer (KYC) and Anti-Money Laundering (AML) requirements
3. Platform Services
VistaLock provides technology infrastructure that enables approved merchants to offer device financing and buy-now-pay-later (BNPL) products to eligible customers, subject to credit decisions, financier rules, and regulatory limits.
We do not guarantee approval of your application, loan volume, or revenue. Financiers, payment partners, and credit bureaus retain independent discretion over credit and settlement decisions.
4. Data Protection (NDPA, NDPR & Privacy)
Vistapro processes personal data in accordance with the Nigeria Data Protection Act 2023 (NDPA), the Nigeria Data Protection Regulation (NDPR) 2019, and guidance issued by the Nigeria Data Protection Commission (NDPC). Our lawful bases include contract performance, legal obligation, legitimate interests, and explicit consent where required.
You consent to the collection and processing of BVN, NIN, government-issued identification, financial information, and business records solely for onboarding, identity verification, fraud prevention, credit assessment, regulatory reporting, and service delivery.
We implement appropriate technical and organisational measures to protect data. We do not sell personal data. Cross-border transfers, where necessary, are conducted with adequate safeguards as required by the NDPA and NDPR.
Data subjects may exercise rights of access, rectification, erasure, restriction, and objection by contacting privacy@vistalock.ng. You must handle customer data obtained through the Platform in compliance with applicable data-protection law and only for permitted purposes.
5. Credit Bureau & Verification Consent
You authorise VistaLock and its licensed partners to conduct credit checks, fraud screening, and identity verification through Credit Registry and other CBN-licensed credit bureaus, NIBSS, and verification service providers, in line with the CBN Consumer Credit Regulations and CRC Act.
You confirm that consents obtained from your customers for credit checks and device financing are valid, informed, and documented in accordance with applicable law.
6. Device Locking & Security Technology
Devices financed through the VistaLock ecosystem may include security software that restricts functionality upon default, delinquency, or breach of the customer finance agreement, subject to consumer disclosure requirements and CBN consumer protection standards.
You agree not to tamper with, circumvent, or instruct others to disable locking technology on financed devices. You will cooperate with lawful recovery and customer support processes.
Customers must receive clear disclosure of locking terms before completing a finance transaction. You are responsible for accurate product descriptions and honest sales practices.
7. Settlements, Fees & Banking
Settlement of merchant proceeds will be made to the verified bank account you designate, according to your selected settlement schedule (e.g. T+1, T+2) and subject to financier funding, chargebacks, disputes, and regulatory holds.
VistaLock and its partners may deduct applicable fees, commissions, penalties, and taxes before remittance. You are solely responsible for all taxes arising from your business activities, including VAT and withholding obligations under FIRS regulations.
You must notify VistaLock promptly of any change to settlement account details through verified channels. VistaLock is not liable for losses arising from incorrect account information you provide.
8. Merchant Obligations
- Comply with all applicable Nigerian laws, including consumer protection, advertising standards, and sector regulations
- Sell only genuine products and maintain accurate inventory and pricing on the Platform
- Do not engage in fraud, misrepresentation, money laundering, or terrorist financing
- Train staff on BNPL disclosures, customer consent, and complaint handling
- Cooperate with audits, compliance reviews, and regulatory requests
- Maintain confidentiality of login credentials, API keys, and customer information
9. Suspension & Termination
VistaLock may suspend or terminate your access immediately for breach of these Terms, suspected fraud, regulatory direction, non-payment of fees, or risk to customers or the Platform.
Upon termination, outstanding obligations, chargebacks, and indemnities survive. We may retain records as required by law and regulation.
10. Limitation of Liability
To the fullest extent permitted by Nigerian law, VistaLock shall not be liable for indirect, consequential, or punitive damages, loss of profits, or business interruption arising from use of the Platform.
Our aggregate liability for direct damages shall not exceed the total fees paid by you to VistaLock in the three (3) months preceding the claim, except where liability cannot be limited by law (including fraud or wilful misconduct).
Nothing in these Terms excludes liability for death or personal injury caused by negligence, or any liability that cannot be excluded under the FCCPA or other mandatory Nigerian law.
11. Indemnity
You agree to indemnify and hold harmless VistaLock, its directors, employees, and partners against claims, losses, penalties, and expenses arising from your breach of these Terms, violation of law, misrepresentation during onboarding, or misconduct in customer sales and collections.
12. Dispute Resolution & Governing Law
These Terms are governed by the laws of the Federal Republic of Nigeria. Parties shall first attempt good-faith negotiation. If unresolved within thirty (30) days, disputes shall be referred to mediation in Lagos, Nigeria, before litigation.
The courts of Lagos State shall have exclusive jurisdiction, subject to any mandatory arbitration or regulatory dispute mechanisms prescribed by CBN or other competent authorities.
13. Changes to Terms
We may update these Terms to reflect legal, regulatory, or product changes. Material updates will be notified via the Platform or registered email. Continued use after the effective date constitutes acceptance of revised Terms.
The version and acceptance timestamp recorded at submission form part of your compliance record.
14. Contact
Vistapro Limited (VistaLock)
RC Number: RC8204344
Registered address: Rose wale filling station, 136 Lagos - Ibadan Expy, Iwo Road, Ibadan 121108, Oyo, Nigeria
Email: legal@vistalock.ng | Privacy: privacy@vistalock.ng | Support: support@vistalock.ng
Website: https://vistalock.ng