Pocketi Payment Terms

Pocketi Payments Terms & Settlement Policy

Effective Date: 30 Nov 2025
Last Updated: 11 Nov 2025

These Pocketi Payments Terms (“Payment Terms”) form part of and supplement the Pocketi Terms of Service (“Main Terms”). They govern how payments, settlements, refunds, and disputes are handled when you use Pocketi’s invoicing and payment collection features (the “Payment Services”) provided in partnership with Paystack and other licensed payment processors.

By using Pocketi to receive payments from your customers, you agree to these Payment Terms in addition to the Main Terms.

1. Payment Processing and Service Providers

Pocketi enables you to collect payments via card, bank transfer, and other supported methods through our licensed payment partner, Paystack Payments Limited, a registered payment service provider authorized by the Central Bank of Nigeria and operating in Ghana under applicable regulations.

When you accept a payment through Pocketi:

  • Paystack processes the transaction and settles the funds into your verified bank or mobile money account (“Payout Account”).
  • Pocketi acts only as a technology facilitator and not as a licensed financial institution or payment processor.
  • Your use of Paystack’s services is also governed by Paystack’s own Merchant Terms, incorporated here by reference: https://paystack.com/terms.

2. Fees and Charges

  • Transaction fees and service charges (“Fees”) apply to each payment processed through Pocketi.
  • The applicable rates are displayed on Pocketi’s pricing page or as communicated to you in-app. These fees are inclusive of Value Added Tax (VAT) unless otherwise stated.
  • Fees may change from time to time. Pocketi or Paystack will provide at least 7 days’ notice before any rate change takes effect.
  • You are responsible for any bank fees, settlement costs, or third-party charges associated with receiving payments.
  • If your use of the Payment Services violates Paystack’s rules or results in fines or penalties, you agree to reimburse Pocketi and Paystack for any such costs.

3. Taxes and Regulatory Compliance

  • You are solely responsible for determining, collecting, reporting, and remitting any taxes (including VAT, income tax, or other levies) applicable to your sales or services.
  • Pocketi and Paystack may withhold or deduct taxes from payouts where required by Ghanaian law or a regulatory directive.
  • If you are registered for VAT or hold a tax exemption certificate, you must provide valid documentation to Pocketi or Paystack.
  • Pocketi may share transaction data with the Ghana Revenue Authority (GRA) or other regulators if required by law.

4. Settlements and Payout Schedule

  • Funds from successful transactions will be settled to your verified Payout Account (bank or MoMo) in Ghana Cedis (GHS).
  • For local transactions, payouts are typically initiated within one (1) business day (T+1) after the transaction date or when Paystack or our provider settles the amount.
  • For international card transactions, settlement may take up to seven (7) business days (T+7) or when Paystack or our provider settles the amount.
  • Settlement timelines may be delayed due to bank or processor issues outside Pocketi’s control. Pocketi is not liable for any delay or failure by a bank, card network, or payment processor to complete a payout.
  • You are responsible for ensuring that your payout details are accurate. Pocketi and Paystack will not be liable for funds sent to incorrect accounts due to inaccurate information provided by you.

5. Disputes, Chargebacks and Reversals

A Dispute (also called a Chargeback) occurs when a customer’s bank or card issuer reverses a transaction due to fraud, non-delivery, or dissatisfaction with goods or services.

  • You are fully responsible for all Disputes, chargebacks, or reversals related to your transactions.
  • If a Dispute occurs, Paystack may deduct the transaction amount and related fees from your upcoming payouts or debit your payout account.
  • Pocketi and Paystack may suspend settlements if there is suspected fraud, excessive disputes, or a regulatory investigation.
  • This obligation survives the termination of your Pocketi account.

6. Refunds and Returns

  • You are solely responsible for handling customer refunds for goods or services.
  • All refunds must be initiated through your Pocketi dashboard or directly via Paystack in line with Card Scheme rules.
  • Processing fees are non-refundable, even if the original transaction is refunded.
  • You must maintain adequate funds in your account to cover potential refunds or chargebacks.

7. Withholding, Offsets, and Negative Balances

Pocketi or Paystack may deduct or withhold amounts from your settlements to cover:

  • Transaction fees, refunds, or chargebacks
  • Regulatory fines or penalties
  • Outstanding debts owed under these Terms
    If your account has a negative balance, Pocketi or Paystack may debit your linked payout account or future settlements until the balance is cleared.

8. Fraud Prevention and Compliance

  • Pocketi reserves the right to suspend, delay, or block settlements if we detect suspicious or unauthorized activity.
  • You must cooperate with Pocketi, Paystack, banks, or regulators in any investigation or audit related to your use of the Payment Services.
  • You agree not to process transactions that are illegal under Ghanaian law or card network rules.

9. Termination or Suspension

Pocketi or Paystack may suspend or terminate your access to the Payment Services if:

  • You engage in fraudulent, illegal, or suspicious transactions;
  • You violate these Terms or Paystack’s merchant rules;
  • Required KYC or business verification information is missing or inaccurate;
  • We receive a regulatory or court order to do so.

Outstanding disputes, chargebacks, or withheld funds may be settled or recovered even after termination.

10. Limitation of Liability

Pocketi provides the Payment Services “as is” and does not guarantee uninterrupted or error-free operation.
Pocketi is not liable for:

  • Delays in settlement caused by banks, card networks, or payment processors;
  • Losses resulting from incorrect payout information provided by you;
  • Indirect, consequential, or incidental damages arising from use of the Payment Services.

11. Governing Law and Dispute Resolution

These Payment Terms shall be governed by the laws of the Republic of Ghana.
Any dispute arising out of or relating to these Terms shall first be resolved amicably, and if unresolved, referred to arbitration under the Alternative Dispute Resolution Act, 2010 (Act 798) in Accra, Ghana.

12. Contact

For questions about payments or settlements:
📧 support@pocketiapp.com
🌐 https://pocketiapp.com