Terms of Service

1. Acceptance of these terms

These Terms of Service ("Terms") form a binding agreement between you and Holda Fintech Technologies Limited ("Holda", "we", "us") governing your access to and use of the Lipasafe mobile application, website, and related services (collectively, the "Services").

By downloading, registering for, or using the Services, you confirm that you have read, understood, and agree to be bound by these Terms together with our Privacy Policy. If you do not agree, do not use the Services.

2. About the service

Lipasafe provides an escrow payment platform. In simple terms: when a buyer and seller (or client and service provider) agree to transact, the buyer pays Lipasafe instead of paying the seller directly. We hold the funds in escrow and release them to the seller only when the agreed conditions — typically delivery or completion of the service — are confirmed.

The Services support transactions including, without limitation: marketplace purchases, delivery-on-payment, rent and house payments, fundi (service provider) jobs, second-hand goods, money requests, and diaspora payments.

3. Eligibility & accounts

• You must be at least 18 years old and legally capable of entering into a contract.
• You must register with accurate, current, and complete information, including a phone number you control.
• One person may not maintain multiple accounts except with our prior written approval.
• You are responsible for all activity under your account and for keeping your credentials secure.
• Notify us immediately at support@lipasafe.co.ke if you suspect unauthorized access.

4. Identity verification (KYC)

To use transaction features you must complete identity verification (Know Your Customer). You agree to provide genuine, unaltered identity documents and to keep your information up to date. We may suspend or limit your account if verification fails, documents expire, or we detect discrepancies. Refusing or failing KYC will restrict your ability to transact but you may request deletion of your data per our Privacy Policy.

5. How escrow works

5.1 Creating a transaction

1. The parties agree on the item, service, price, and terms.
2. A transaction is created in the app and both parties are bound by its stated terms.
3. The buyer funds the transaction via the supported payment method (e.g., M-Pesa).

5.2 Holding of funds

Funded amounts are held in escrow and are not accessible to the seller until release conditions are met, nor to the buyer once funded (except through the dispute or refund process in these Terms).

5.3 Release

Funds are released to the seller when the buyer confirms satisfactory receipt/completion, or when the confirmation window lapses without a dispute being opened, as specified in the transaction.

5.4 Cancellation

An unfunded transaction may be cancelled freely by either party. A funded transaction may be cancelled only by mutual agreement or through the dispute process.

6. Payments, fees & refunds

• Applicable fees (including escrow and payout charges) are displayed in the app before you confirm a transaction. By confirming, you accept the fees.
• All amounts are denominated in Kenya Shillings (KES) unless stated otherwise. Diaspora transactions may be initiated in foreign currency and settled in KES at the rate shown at the time of the transaction.
• Refunds of unfunded or mutually cancelled transactions are returned to the source of payment, less any non-recoverable third-party charges.
• You authorize us to recover amounts you owe (e.g., reversed transactions or chargebacks caused by your fault) from your wallet, pending payouts, or future transactions.
• Payouts are made to the verified M-Pesa number on your account. Ensure your details are correct — we are not liable for payouts sent to details you provided.

7. Delivery & confirmation

• The seller is responsible for delivering the goods or completing the service as described in the transaction.
• The buyer must inspect and confirm — or open a dispute — within the confirmation window stated in the app. Failure to act within the window may result in automatic release of funds to the seller.
• Confirmation is final and irrevocable except in cases of fraud, which are handled through the dispute process.

8. Disputes

If a transaction goes wrong, either party may open a dispute from within the app before funds are released. When a dispute is opened:

1. Funds remain locked in escrow pending resolution.
2. Both parties submit evidence (messages, photos, receipts, delivery proof) through the app.
3. Our dispute resolution team reviews the evidence and may request more information.
4. We issue a decision: full release to the seller, full refund to the buyer, or a split, based on the transaction terms and evidence.

Our decision is binding on the use of the escrowed funds, without prejudice to either party's right to pursue the matter in a court of competent jurisdiction. We may involve law enforcement where fraud or crime is suspected.

9. Prohibited conduct

You must not use the Services to:

• Sell or buy illegal goods or services, counterfeit items, or items you do not own or have the right to sell.
• Commit fraud, money laundering, terrorist financing, or any financial crime.
• Manipulate transactions, collude to defraud another user, or abuse the dispute system.
• Circumvent the platform (e.g., persuading a counterparty to pay outside Lipasafe to avoid fees) — such conduct voids our protection.
• Harass, threaten, or defraud other users or our staff.
• Reverse-engineer, scrape, or disrupt the app or its systems.
• Use another person's identity, account, or payment instrument.

Violations may result in suspension, termination, reporting to authorities, and withholding of funds linked to the violation where legally permitted.

10. Our role & liability

• We provide the escrow mechanism, payment rails, and dispute administration. We are not a party to the underlying sale or service contract between buyers and sellers, and we do not warrant the quality, safety, legality, or fitness of any goods or services.
• We are not liable for the acts, omissions, or insolvency of users, delivery providers, or payment partners, except to the extent required by law.
• The Services are provided "as is" and "as available." To the maximum extent permitted by Kenyan law, we exclude implied warranties.
• Our aggregate liability arising from any transaction is limited to the fees we earned from that transaction, except where liability cannot be limited by law (e.g., fraud or gross negligence).
• We are not liable for losses caused by events beyond our reasonable control, including network failures, M-Pesa downtime, or force majeure.

11. Your representations

You represent and warrant that: (a) all information you provide is true and accurate; (b) you own or are authorized to sell any goods you list; (c) you will comply with all applicable laws; and (d) your use of the Services will not infringe the rights of any third party.

12. Suspension & termination

We may suspend or terminate your access immediately if you breach these Terms, if we suspect fraud or illegal activity, if required by law or a competent authority, or for extended inactivity. You may delete your account at any time through the app or by contacting support, subject to completion or cancellation of open transactions and our legal retention obligations.

13. Intellectual property

The Lipasafe name, logo, app, and all content and software in the Services are the property of Holda Fintech Technologies Limited or its licensors and are protected by intellectual property laws. You are granted a limited, non-exclusive, non-transferable license to use the Services for their intended purpose. All other use requires our written consent.

14. Privacy

Our collection and use of personal data is described in our Privacy Policy, which forms part of these Terms.

15. Changes to these terms

We may revise these Terms from time to time. Material changes will be notified in-app, by SMS, or by email at least 14 days before taking effect, except where changes are required by law or for security reasons (which take effect immediately upon notice). Continued use of the Services after the effective date constitutes acceptance.

16. Governing law & disputes

These Terms are governed by the laws of Kenya. Any dispute arising from or relating to the Services shall first be addressed through our support and dispute resolution channels. Matters not resolved may be referred to the courts of Kenya, unless both parties agree to an alternative dispute resolution mechanism.

17. Contact

• Support: support@lipasafe.co.ke
• Legal: legal@lipasafe.co.ke
• Company: Holda Fintech Technologies Limited, Kenya