Service Agreement
Effective Date: January 2024 Last Updated: January 2024
1. Scope of Services
Hustle 360 LTD ("we," "our," "us") builds technologies and services that enable businesses to manage HR directories, process payroll, and handle third-party invoice processing. These Terms govern your use of Gangmates and the other products, features, apps, services, technologies, and software we offer (the Gangmates Products or Products), except where we expressly state that separate terms (and not these) apply. These Products are provided to you by Hustle 360 LTD.
2. Duration of Agreement
This Agreement will commence on the date of signing and continue until terminated by either party with thirty (30) days written notice.
3. Fees and Payment Terms
You agree to the following fee structure for the services provided under this Agreement:
Flat Fee
A negotiated flat fee to be agreed upon before the activation of services. This flat fee covers the basic setup and activation of the agreed services.
Service Fee
In addition to the flat fee, you will be charged a service fee for each transaction processed through our platform. The service fee structure is as follows:
Transaction Fee Rate: A variable fee calculated at a rate of 2% (0.02) of the transaction amount.
Fixed Fee: An additional fixed fee of NGN 120 is applied to transactions above a certain threshold.
Threshold: For transactions below NGN 2,500, the service fee will be the greater of 2% of the transaction amount or a minimum fee of NGN 50.
Fee Cap: The total service fee for any transaction will not exceed NGN 3,000.
Example Calculations:
For transactions below NGN 2,500, the service fee will be 2% of the transaction amount, but not less than NGN 50.
For transactions of NGN 2,500 and above, the service fee will be 2% of the transaction amount plus NGN 120, but the total fee will be capped at NGN 3,000.
4. Confidentiality
Both parties agree to maintain the confidentiality of all confidential information received from the other party.
5. Termination
This Agreement may be terminated by either party with thirty (30) days written notice to the other party.
6. Liability and Indemnification
We shall not be liable for any indirect, incidental, or consequential damages. You agree to indemnify and hold us harmless from any claims arising from the services provided.
7. Prohibited Businesses
You agree that you will not use Hustle 360’s services or submit transactions to the Payment Schemes if you engage in the following activities wholly or partly:
Any product, service, or activity that is deceptive, unfair, predatory, or prohibited by one or more Card Brands.
Any merchant selling goods or services that represent a violation of any law, statute, or regulation.
Any merchant selling or facilitating the sale of products or services that infringe on the intellectual property rights of others, including counterfeit goods or any product or service that infringes on the copyright, trademark, or trade secrets of any third party, such as many Cyberlockers.
Any merchant that engages in the unauthorized sale of brand name or designer products or services.
Any merchant accepting a card as payment for a dishonored check or for an item deemed uncollectible by another merchant.
Any merchant that accepts a card at a scrip-dispensing terminal.
Adult entertainment and/or adult content websites including Electronic Commerce adult content (videotext) merchants that would include MCC’s 5967, 7273, and 7841.
Bestiality.
Brand or reputational damaging, potential or otherwise, activities including Child Pornography, Escort Services, Prostitution, Mail Order Brides, Occult.
Digital Wallet, Cryptocurrency, or Prepaid Companies.
Drug Paraphernalia.
Firearms, weapons, ammunition, gunpowder, fireworks, and other explosive substances, chemicals, or devices.
Research chemicals, peptides, and other toxic, flammable, or radioactive materials.
Investment or “get rich quick” merchants, businesses, or programs.
Marijuana dispensaries and related products or services.
Multi-Level Marketing Businesses.
“Negative option” marketing, renewal, or continuity subscription practices; marketing activities involving low-dollar trials, “pay only for shipping,” and/or “free trial” periods after which a credit card is charged periodically and/or a significantly larger amount.
Pawn Shops.
Pseudo Pharmaceuticals.
Psychics and “occult” businesses.
Quasi-Cash or Stored Value.
Substances designed to mimic illegal drugs.
Transacting Virtual Currency or credits that can be monetized, re-sold, or converted to physical or digital goods or services or otherwise exit the virtual world.
Identification Providing Services.
Business, content, services, or behavior that promotes, glorifies, or engages in unlawful violence, physical or virtual harm to property, persons, or groups based on race, national origin, religion, disability, gender, or sexual orientation.
Predatory financial services including but not limited to credit counseling, wealth management, or loan consulting.
Pornography or other adult audience products or services including images, video, audio, literature, live chat services, or other media that convey explicitly sexual behavior.
Bail Bond Services, Bankruptcy Lawyers, or Law Firms collecting funds for any service other than legal services fees.
In-person gambling or sweepstakes or contests, fantasy sports leagues offering monetary or value prizes or awards.
Bidding fee auctions.
Using Hustle 360’s card not-present checkout flow as a virtual POS terminal for in-person card-present transactions.
Currency Exchange Services.
8. Restricted Services
Merchants operating (either wholly or partly) in the respective categories outlined below are required to receive pre-approval by Hustle 360, such approval to be granted in Hustle 360’s sole discretion and subject to Hustle 360’s KYC procedure:
Age Restricted Products or Services.
Any Sub-merchant where the anticipated % of International Card Sales is expected to be greater than 20% of total sales.
Marketplaces, which bring together buyers and sellers allowing for online purchases.
Crowd Sourced Fundraising, as defined by Hustle 360 from time to time, except however, Crowd Sourced Fundraising shall not be allowed for the purchase of stock or equity, a promise made to deliver a good or service in the future, or there is no consideration in return for the payment or donation.
Dating Services.
Internet/Mail Order Pharmacies.
NGO / Charities.
Money Transfer, Wire Transfers, Money Orders, Transmitters, and Check Cashing including merchants unless registered and licensed as a Money Service Business or Money Transfer Operator.
Payment Facilitators (unless Registered & Licensed).
Personal Enhancement Products and/or Nutraceuticals.
Sports Betting, sports forecasting or odds making with a monetary or material value prize or award.
Investment or Brokerage services, including but not limited to the purchase of securities or Crypto.
Lending services, debt repayment, or collections.
Buy Now, Pay Later Services or other installment loan services.
Insurance services, whether as a direct underwriter, agent, or broker.
Digital Wallets, Cryptocurrency, Non-Fungible Token (NFTs), or Prepaid Card Companies.
Neobanks or other FinTechs, who partner with licensed financial institutions to offer banking or other financial services to consumers and/or businesses.
Businesses facilitating Money Transfer Services or other remittances.
Travel services such as Airlines, Cruises, Timeshare, Tour Operators, Travel Agency Services, Hotels, and Resorts.
Prepaid Phone Cards and SIM Cards.
Stored Value Services offered as a resale or on behalf of another party.
Governmental agencies including, but not limited to: Embassies, Consulates, and Governmental Services.
Shipping Forwarding Services or Drop Shippers.
Cannabis products or services including dispensaries, delivery services, CBD/THC products.
Tobacco products, including e-Cigarettes.
Lotteries.
Internet gambling.
By using our services, you agree to this Service Agreement.
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