Credit Wallet Terms of Use

Effective Date: 2026 | Compliance: Nigeria Data Protection Act 2023 (NDPA)

1. Overview

These Credit Wallet Terms of Use ("Wallet Terms") govern the operation and use of the Credit Wallet ("Wallet") made available to every account holder on the SNB Marketplace Platform ("Platform"), as referenced in clause 11 of the Returns and Refunds Policy. These Wallet Terms form part of, and are to be read together with, the Platform's Terms and Conditions, the Returns and Refunds Policy, and the Platform's Privacy Policy. In the event of any conflict between these Wallet Terms and the Returns and Refunds Policy on a matter specific to the Wallet, these Wallet Terms shall prevail.

2. Nature of the Wallet

3. Funding Sources

A Wallet may be credited from the following sources only:

• a. Store credit issued following an approved return or refund request under the Returns and Refunds Policy;
• b. Direct top-up by the account holder using an approved payment method on the Platform (Card, Bank Transfer);
• c. Promotional credit, cashback, or similar incentives issued by the Platform at its discretion; and
• d. Any other source expressly permitted by the Platform from time to time.

The Platform reserves the right to set minimum and maximum top-up amounts and to impose limits on the total balance a Wallet may hold at any time.

4. Use of Wallet Balance

A Wallet balance may be used only to pay, in whole or in part, for goods or services purchased on the Platform. Where a Wallet balance is applied to a purchase together with another payment method, the Wallet balance shall be applied first, unless the Platform specifies otherwise at checkout.

5. No Cash Withdrawal

Wallet balances, regardless of source (including store credit, direct top-up, or promotional credit), are not withdrawable in cash and cannot be transferred to a bank account, card, or any other external account. Where a purchase paid for using Wallet balance is subsequently returned or refunded, the refunded amount shall be returned to the Wallet as store credit and not to the account holder's original payment method, unless the Platform determines, at its discretion, that exceptional circumstances warrant an alternative refund method.

6. Expiry of Wallet Balance & Account Closure

Wallet balances do not expire for so long as the account holder's Platform account remains active and in good standing. The Platform will provide at least thirty (30) days' prior written notice to the account holder before introducing or applying any expiry period to Wallet balances, whether generally or in respect of a specific category of credit (such as promotional credit, which may carry its own stated expiry at the time it is issued).

Upon closure of an account holder's Platform account:

• Any unused Wallet balance derived from direct top-up shall, on request made within ninety (90) days of closure, be addressed in accordance with the Platform's account closure procedure;
• Unused balance derived from store credit or promotional credit shall be forfeited upon closure, save as otherwise required by applicable law.

7. Security and Account Responsibility

The account holder is responsible for maintaining the confidentiality of their Platform account credentials, biometric authorization, and 4-digit Wallet PIN, and for all activity conducted through their Wallet. The account holder must notify the Platform promptly of any unauthorised access to, or use of, their account or Wallet. The Platform will investigate reported unauthorised transactions and, subject to verification, may restore any balance improperly deducted, but shall not be liable for loss arising from the account holder's failure to safeguard their account credentials.

8. Suspension and Restriction

The Platform may suspend or restrict a Wallet, including freezing its balance, where the Platform reasonably suspects fraud, abuse of the return and refund system, money laundering, a breach of these Wallet Terms or the Platform's Terms and Conditions, or where required to do so by law or regulatory direction. The Platform shall, where reasonably practicable, notify the account holder of the reason for suspension and the steps required to resolve it.

9. Data Protection (NDPA 2023)

The Platform processes personal data connected to Wallet transactions (including funding source, transaction history, and balance information) in accordance with the Nigeria Data Protection Act 2023 ("NDPA 2023") and the Platform's Privacy Policy. Such data is processed for the purposes of operating the Wallet, preventing fraud, complying with applicable law, and resolving disputes, and is retained only for as long as reasonably necessary for those purposes or as required by law. The account holder's rights in respect of their personal data, including the rights of access, correction, and erasure, are as set out in the Privacy Policy.

10. Relationship to the Returns and Refunds Policy

Store credit issued under clause 7(b) and referenced in clause 11 of the Returns and Refunds Policy is credited to the Wallet and is subject to these Wallet Terms. Nothing in these Wallet Terms limits any right or liability allocation set out in clause 10 (Liability for Refunds) of the Returns and Refunds Policy.

11. Amendments

The Platform may amend these Wallet Terms from time to time. Material changes will be notified to account holders in advance through the Platform or by email. Continued use of the Wallet following such notice constitutes acceptance of the amended Wallet Terms.