• The Program is open to all new and existing Kuda retail customers.
• To participate in this Program and thereby earn coins, the Participant needs to have a Tier 3 Kuda account. Existing Kuda customers can upgrade their accounts to tier 3 on the Kuda App.
• By participating in the Program, Participants hereby agree to receive email and in-app communications for information, promotions and/or other purposes.

• Kuda reserves the right to suspend or modify the Program, at its discretion, at any time with or without notice to Participants. Termination, modification or suspension may affect a Participant’s ability to redeem accumulated coins.
• A Participant’s continued participation in the Program constitutes his or her acceptance of any changes to these Rules.

1. Earning coins on the Program
   

   To earn coins on the Program, you must:

   • Complete eligible transactions on the Kuda App.
   • Eligible transactions include - transfers above N1,000, bill payments, airtime purchase and any other such qualifying transactions that may be included or delisted based on Kuda’s discretion, at any time with or without notice.
   • Participants earn 1 coin for each eligible transaction completed, within 24 hours of completing the transaction.
   • Participants can earn an additional 25 coins each month by maintaining a minimum average balance of N50,000 in their account, during the previous month.
   • Coins earned are capped at 250 coins per month. Users can’t earn more than this amount in a month.
2. Reward Tiers:
   • There are two reward tiers for the Program - Regular and Premium.
   • Participants would earn the same number of coins for the same transaction on Premium as they would on a Regular Tier.
   • All Participants will be assessed at the start of each month to determine their reward tier and if they meet the criteria for Premium, they will be upgraded to Premium or their existing Premium access will be renewed for another month. In the event that the criteria for Premium is not met, the participants will maintain their Regular access levels or they will be downgraded from Premium if they were on Premium previously.
   • Participants must earn at least 50 coins in a month to maintain their Premium tier status.
   • First time entrants into Premium will be given a 2 month grace period if they fail to meet the Premium criteria in the subsequent month. Each Participant is only entitled to a single grace period during the Program.
   • The conditions and criteria for migrating Participants from Regular to Premium, and the grace period is at Kuda’s discretion, and this may be changed at any time with or without notice.
3. Redeeming Coins:
   • Redemption value:
     The redemption value of 1 Coin is N1.00 (One Naira only)
   • Place of redemption: For now, Participants can only redeem coins on the Kuda App (through airtime purchase or bill payments) or earn rewards/discounts with participating stores for the Program, when available.
   • Participants cannot exceed the total number of coins available in their Cashback Wallet.

4. Coins Expiration:

   Coins earned per month on the Reward tier expire on the last day of the month and Participants on the Reward tier are not entitled to cashback nor redemption of the Coins.

   Coins earned per month that qualify for the Premium tier are automatically credited to the cashback wallet and do not expire at the end of the month. Participants who are downgraded from Premium to Regular lose the coins earned on the last day of the month. Kuda reserves the right to modify the expiration timeline, at its discretion, at any time with or without notice.

By participating in the Program, each Participant accepts all responsibility for, and hereby releases, indemnifies and holds harmless Kuda, its group member companies, affiliates, and subsidiaries, together with their respective officers, directors, employees, shareholders, agents and service providers from and against any claims, actions, demands, losses, liabilities, damages, 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 Coins/rewards given under the Program.

Kuda does not guarantee and shall not be liable for the satisfactory quality, merchantability, or fitness of rewards or third-party goods and services acquired through the Program.

1. Kuda reserves the right to suspend or disqualify a Participant who uses, or, in the case of suspension, is suspected of using the Program in a manner inconsistent with these terms and conditions or otherwise fails to comply with applicable laws. Kuda shall have the right to take appropriate administrative and/or legal action, including criminal prosecution, as it deems necessary in its sole discretion.

2. Coins are not transferable between Participants.

3. Participants are responsible for safeguarding their Kuda App information and login credentials. Kuda shall not be responsible for the loss or use of coins by Participants in eligible transactions or obtaining rewards.

4. Participants undertake 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;
   • violate any applicable law.

5. Kuda reserves the right to prohibit a Participant from participating in the Program or receiving a coin or reward, 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 coins or rewards.

6. Each Participant understands and agrees 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.

7. 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.

8. The Program and these terms and conditions are subject to all applicable laws and regulations of the Federal Republic of Nigeria.