Cashback Program For Kuda Business Customers

Terms & Conditions

Kuda Microfinance Bank Limited (“Kuda”) is offering new and existing Kuda Business customers (“Participant(s)”) the opportunity to earn cashback on airtime purchases and bill payments (the “Program”). The Program in its entirety is governed by these Terms and Conditions (in addition to the general terms and conditions that apply to your Kuda Business account) and by participating in the Program, you as a Participant agree to be bound by the terms specified herein as well as any subsequent changes or modifications made by Kuda to these Terms and Conditions.

Please note the following preliminary points in relation to the Program:

  • The Program is only available to Kuda Business accounts, whether new or existing who elect to participate in the Program by opting in;
  • To open a Kuda Business account, your business/company must have been incorporated with the Corporate Affairs Commission and you must provide all relevant KYC documents at onboarding.
  • The Program is available for a defined period only, at Kuda’s discretion (“Offer Period”) and may be discontinued at anytime;
  • Cashback is only applicable on airtime purchases and bill payments completed via the Kuda Business app (“Qualifying Transactions”), at a fixed rate as determined by Kuda;
  • For standard Kuda Business accounts, the starting rate is 1.5% of the transaction amount. That is, whenever you buy airtime or pay a bill on Kuda Business, we’ll pay a 1.5% cash-back into your Kuda Business account. That’s 1.5% of the transaction amount. For example, if you buy airtime worth NGN1,000, we’ll send you NGN15.
  • For our Open API customers (with Kuda Business Accounts), we offer them a 3% cashback on bills paid with our bill payment API. This means that whenever Open API customers (or their customers) buy airtime or pay bills, the Open API customer can earn up to 3% commission from us.
  • For our Open API customers (with Kuda Business Accounts), we offer them a 3% cashback on bills paid with our bill payment API. This means that whenever Open API customers (or their customers) buy airtime or pay bills, the Open API customer can earn up to 3% commission from us.
  • We reserve the right to change or modify this rate at any time during the Offer Period.
  • Cashback is paid into your Kuda Business account within 24 hours of completing the above-stated transactions, and you will receive a notification when paid.
General Terms:
  • The claiming of a cashback by a Participant is subject to verification by Kuda and may depend on any additional factors set by Kuda. A cashback paid to a Participant in relation to incorrect information or inaccurate KYC documents automatically disqualifies the Participant from earning additional cashbacks under the Program.
  • Kuda reserves the right to modify, amend or suspend at any time, the Program, these Terms and Conditions and/or the methods through which cashback is earned, with or without notice to the Participant, and shall not be liable for any such change or modification or actions. Termination, modification or suspension may affect a Participant’s ability to earn cashback. A Participant’s continued participation in the Program after any such modifications or amendments would constitute an acceptance of the updated Terms and Conditions.
  • Kuda also reserves the right to disqualify any Participant from the Program at any time at our sole discretion, including without limitation if such Participant fails to meet the requirements, does not comply with any of these Terms and Conditions or otherwise fails to comply with any applicable laws.
  • A Participant hereby undertakes to indemnify Kuda, its group member companies, affiliates and subsidiaries, together with their respective employees, directors, officers and agents from any and all claims, actions, demands, damages, losses, liabilities, costs or expenses caused by, arising out of, or in connection with the Participant’s participation in the Program, including without limitation the use or misuse of the cashback given under the Program.
  • In relation to the Program, a Participant undertakes not to:
    • resell, trade, barter or otherwise generate income by providing access to the Program to others;
    • conduct any illegal activity or solicit the performance of any illegal activity;
    • attempt to gain unauthorized access to the Program, other accounts, computer systems, or networks connected to the Program;
    • impersonate any person or otherwise misrepresent their identity;
    • In relation to the Program, a Participant undertakes not to:
    • violate any applicable law.
  • Kuda reserves the right to prohibit a Participant from participating in the Program or receiving a cashback, if it determines that such a Participant is attempting to undermine (or has undermined) the fairness, integrity or legitimate operation of the Program in any way by (a) cheating, hacking, deception, or any other unfair conduct; (b) using any affiliate website, affiliate network properties or automated systems to participate in the Program; (c) using multiple or fake emails addresses or accounts, fictitious identities or bots or other device or artifice to participate in the Program or receive cashback.
  • The Participants understand and agree that Kuda shall not be liable for any direct, indirect, incidental, special, consequential, or exemplary damages, including, but not limited to, damages for loss or use of data or other intangible losses, resulting from (i) the use or the inability to use the Program; (ii) transactions entered into through, from, or as a result of the Program; (iii) unauthorised access to or alteration of their data; (iv) statements or conduct of any third party on or made in connection with the Program.
  • If one or more provisions of these Terms and Conditions are void or invalid, this will not affect the validity of the remaining conditions herein.
  • These Terms and Conditions shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.

February 2024