Terms & Conditions

KwikPay Credit Terms & Conditions


By proceeding with this document, you agree that these terms and conditions form a binding agreement between you and Trafalgar Associates Limited (hereinafter referred to as “ KwikPay Credit”, “we” “our” “us” or ”the Lender” )


The interest rate for the Loan is fixed for the tenor of this loan as communicated via the repayment schedule approved and agreed by customer at the point of disbursement.


The Borrower shall repay the principal and interest within one month.

The Borrower will be given a dedicated and customized repayment plan upon approval of the loan application;

The Borrower will be expected to make repayments in accordance with the repayment plan; and

The Borrower hereby agrees that nonpayment of the amount owed by the due date shall render the Borrower in default and entitles. KwikPay Credit Shall take steps to recover the outstanding loan amount.

The Borrower hereby authorises the Lender to debit [his/her] account for the loan obligations or authorize the Payroll Service Provider via direct debit (using Remitta or such other third-party collection partners) or via your debit card from your monthly salary or any other sources of income paid into your designated bank account provided to us, comprising principal and interest

prior to crediting his/her account with the Lender. 


The Borrower authorizes the Lender to obtain and retain on the Credit Risk Management System of the Central Lender of Nigeria, all information relating to the Borrower’s Lender Verification Numbers and the status of indebtedness.

The Borrower authorizes the Lender to access any information available to KwikPay Credit as provided by the Credit Agency.

The Borrower also agrees that the Borrower’s details and the loan application decision may be reported with the Credit Agency.


The Borrower agrees that the lender may communicate with them by sending notices, messages, alerts and statements in relation to this Agreement in the following manner:

To the most recent physical address the Lender holds for the Borrower on file. By delivery to any email address provided during the application process.

By delivery of an SMS to any mobile telephone number the Borrower has provided to Firmus.

  1. EVENT OF DEFAULT (PLEASE READ CAREFULLY) Default in terms of this Agreement will occur if:

The Borrower fails to make any scheduled repayment in full on or before the payment date in accordance with the repayment plan given to the Borrower;

Any representation, warranty or assurance made or given by the Borrower in connection with the application for this loan or any information or documentation supplied by the Borrower is later discovered to be materially incorrect; or

The Borrower does or omits to do anything which may prejudice the Lender rights in terms of this Agreement or causes KwikPay Credit to suffer any loss or damage.

KwikPay Credit shall apply a 1.5% flat default charge daily on overdue principal until the total outstanding amount is cleared.

We reserve the right to notify your contacts (including, but not limited to employer) in the event of default or non-repayment.

In the event of default by the Borrower under this facility, the Lender reserves the right at its discretion, to transfer the defaulting account to a third-party agency to recover any outstanding debt due to the Lender

We reserve the right to institute legal proceedings against the defaulting Borrower and is under no obligation to inform the Borrower before such proceedings commence.

The Borrower shall be responsible for all legal costs and expenses incurred by KwikPay Credit in attempting to obtain repayment of any outstanding loan balance owed by the Borrower. Interest on any amount which becomes due and payable shall be charged.


This Agreement represents the entire understanding between KwikPay Credit and the Borrower. No amendment shall be made unless same is agreed in writing by the parties.

The Borrower agrees and undertakes that for the period of this Agreement, the Borrower will not close the Borrower’s specified bank account.


This Agreement shall be governed by the laws of the Federal Republic of Nigeria and shall be subject to the jurisdiction of the courts of the Federal Republic of Nigeria.

If KwikPay does not strictly enforce its rights under this Agreement (including its right to insist on the repayment of all sums due on the Repayment Due Date) or grant the Borrower an indulgence, KwikPay Credit will not be deemed to have lost those rights and will not be prevented from insisting upon its strict rights at a later date.

The Borrower authorizes and consents to all lawful access, use or disclosure of the Borrower’s particulars in the application by KwikPay Credit which may include but shall not be limited to purposes necessary to promote or sustain the business of KwikPay Credit; and the Borrower waives any claims the Borrower may have against KwikPay Credit arising from any such access, use or disclosure.

Applicants/Borrowers that submit fake or fraudulent documentation shall be reported to appropriate regulatory bodies including, but not limited to the Nigerian Police, for prosecution and/or any other penalties as the regulatory body deems fit.

KwikPay Credit reserves the right to review, verify and screen all details, including but not limited to the loan amount applied for by the Borrower and the Lender is not bound to grant the exact loan amount applied for by the Borrower.


If you have any questions about these Terms and Conditions, you can contact us by email at [email protected]

to top