Legal
Terms of Use
Last updated: June 16, 2026
1. Acceptance of Terms
Welcome to LUMPAY ("we," "our," or "the Platform"). By accessing or using our mobile application, website, and services, you agree to be bound by these Terms of Use. If you do not agree to these terms, please do not use our services.
2. About Our Service
LUMPAY is a digital platform that facilitates traditional Nigerian rotating savings groups (Ajo/Esusu). We provide tools for:
- Creating and managing savings groups
- Coordinating member contributions
- Facilitating turn-based payouts
- Processing payments through licensed payment service providers
- Maintaining digital wallets for users
Important: LUMPAY is a technology platform. We are not a bank, financial institution, or money lender. We do not provide financial advice.
3. Eligibility
To use LUMPAY, you must:
- Be at least 18 years old
- Be a resident of Nigeria
- Have a valid Nigerian bank account
- Provide accurate identity verification information (BVN/NIN)
- Have a valid email address and Nigerian phone number
- Comply with all applicable Nigerian laws
4. Liability and Disclaimers
TO THE MAXIMUM EXTENT PERMITTED BY NIGERIAN LAW:
We are not liable for:
- Member defaults or non-payment
- Investment losses or opportunity costs
- Banking system delays or failures
- Errors in user-provided information
- Group management decisions
- Actions of other users
Participating in savings groups involves financial risk. You may lose money if other members default.
5. Contact Us
For questions about these Terms of Use:
Email:
legal@uselumpay.com
Support:
support@uselumpay.com
Address:
House 5, Hanover Court, Dpkay Estate, Lekki, Lagos, Nigeria