1. Introduction and acceptance
Effective date: 18 August 2026
These Terms & Conditions (“Terms”) govern your access to and use of the NXT Pay mobile application, website and related payment services (together, the “Services”). The Services are provided by VELONXT INFORMATION TECHNOLOGY L.L.C S.O.C, a Dubai limited liability company - single owner, holding Dubai Department of Economy and Tourism commercial licence number 1643456 (“NXT”, “NXT Pay”, “we”, “us” or “our”).
By registering for, accessing or using the Services, you agree to these Terms and any product-specific terms shown before you use a feature. If you do not agree, do not access or use the Services.
These Terms do not exclude or limit any rights or remedies that cannot lawfully be excluded under applicable UAE law.
2. Regulatory status
VELONXT’s Dubai commercial licence records activities including Payment Services Provider, Computer Systems and Communication Equipment Software Design, and Information Technology Network Services. A commercial licence is not, by itself, a representation that VELONXT holds every separate financial-services, stored-value, money-transfer, virtual-asset or payment-services approval that may be required for a particular service or jurisdiction.
We will make a regulated service available only where it is lawfully provided by us or through an appropriately authorised partner. The availability, provider and legal structure of a Service may differ by country, payment corridor and transaction type.
3. Definitions
In these Terms:
- Account means your registered NXT Pay account.
- NXT Balance means the digital value or account balance displayed in the application. It is not a bank account or bank deposit.
- Merchant means a business or other recipient that accepts a supported NXT Pay payment or sends a supported payout.
- Payment Partner means a bank, card processor, mobile-money operator, payment aggregator, settlement provider or other third party involved in providing a Service.
- Transaction means a deposit, cash-out, payment, payout, conversion, transfer or other instruction submitted through the Services.
- User, you or your means the person registered for or using the Services.
4. Eligibility and availability
To use NXT Pay, you must:
- be at least 18 years old and legally capable of entering into a binding agreement;
- use a valid mobile number and provide accurate, current information;
- use the Services only in a country and for a purpose for which they are available; and
- comply with applicable law and these Terms.
We may refuse registration or restrict a feature where required by law, our risk controls, partner requirements or service availability. We do not guarantee that every Service is available in every country.
5. Registration, verification and account security
You must create a secure password or PIN and take reasonable steps to protect your device, Account and authentication credentials. You must not share a password, PIN or one-time verification code.
We or a Payment Partner may request identity, address, source-of-funds, source-of-wealth, transaction-purpose, tax-residency or beneficiary information. You must provide complete and accurate information and promptly update it when it changes. We may limit, suspend or close an Account if verification cannot be completed or if required by law.
Tell NXT Support through an official channel as soon as possible if you believe your device, credentials or Account have been lost, compromised or used without permission. Your responsibility for an unauthorised Transaction will be determined by the facts, these Terms and applicable law; it is not automatically established merely because your credentials were used.
6. Nature of the NXT Balance
NXT Pay is a payment application, not a bank. Unless we expressly tell you otherwise for a specific regulated product:
- the NXT Balance is not a bank deposit, savings or investment product;
- no interest or investment return is paid;
- bank deposit-protection arrangements may not apply; and
- balances may be maintained or settled through one or more Payment Partners under the applicable product structure.
You must not use NXT Pay as a long-term store of value. Information displayed in the application may be subject to pending Transactions, reversals, adjustments, fees or reconciliation.
7. Adding funds
Available funding methods, currencies, minimums, maximums, fees and processing times depend on your location and the relevant Payment Partner. Your NXT Balance is credited only after the funding Transaction has been successfully confirmed and reconciled.
A funding instruction may be delayed, rejected, reversed or refunded where required by law, fraud controls, card-scheme rules, provider rules or a payment failure. You must use a funding method that you are authorised to use.
8. Cash-outs and withdrawals
Cash-outs may be available to supported bank accounts, mobile-money accounts or other destinations. You are responsible for entering the correct beneficiary, mobile number, bank details, currency and amount.
After submission to a Payment Partner, a cash-out may be impossible to cancel or reverse. We do not guarantee recovery of funds sent using incorrect details. Processing times are estimates and may be affected by compliance checks, cut-off times, network conditions and provider availability.
9. Merchant payments
NXT Pay may allow you to pay a merchant using supported payment rails, including supported blockchain infrastructure. Before confirming a payment, verify the merchant, destination address or QR code, network, amount, currency, rate and fee.
A payment sent to an incorrect address, recipient or unsupported network may be permanently lost. Confirmed blockchain Transactions generally cannot be reversed by NXT. Any dispute about goods or services remains between you and the merchant unless applicable law or a specific payment scheme provides otherwise.
10. Receiving merchant payouts
You may receive a payout from a supported merchant by providing the correct NXT Pay address, QR code or other destination information. A payout is credited only after it is confirmed by the merchant, relevant network and any Payment Partner.
NXT cannot guarantee recovery where you give a merchant an incorrect address, network or other payment detail. A merchant’s own payout terms may also apply.
11. Sending and requesting NXT
Where enabled, you may send value to or request value from another NXT Pay user. A request is not a guarantee of payment and does not create a debt owed by NXT.
Verify the recipient and amount before confirming. A completed transfer may be irreversible. If you send to the wrong person, we may assist with a lawful recovery request where technically possible, but we cannot guarantee return of the funds or debit another user’s Account without a lawful basis.
12. Contact invitations
If you choose to invite a contact, you confirm that you have permission to use the contact details and send the invitation. The invitation may be sent through a third-party messaging service whose own terms and privacy practices apply. Do not send unsolicited, misleading or unlawful messages.
13. Fees, rates and taxes
We may charge disclosed fees for funding, cash-outs, conversions, payments or other Services. Payment Partners and recipient institutions may charge additional fees outside our control. Where applicable, the rate, NXT fee and estimated amount to be received will be shown before you confirm.
Quoted exchange rates may be time-limited and may include a disclosed margin or spread. You are responsible for taxes, duties or reporting obligations arising from your use of the Services. NXT does not provide tax advice.
14. Transaction instructions, finality and errors
You authorise us to act on a Transaction instruction that you submit after completing the required authentication steps. You must review all details before confirmation.
Some Transactions cannot be cancelled, changed or refunded after submission or confirmation, including merchant payments, payouts, cash-outs and user transfers. If you notice an error, contact NXT Support immediately. We will take reasonable steps permitted by law and the relevant payment rail, but recovery is not guaranteed and fees may apply.
We may correct a duplicate or erroneous credit, reverse a provisional credit, or adjust the NXT Balance to reflect a lawful chargeback, refund, reconciliation error or provider reversal. We will provide information about a material adjustment where legally permitted.
15. Limits, holds and suspensions
We or a Payment Partner may apply Transaction limits, reserves, holds or restrictions based on law, verification status, country, product, risk profile or provider requirements. We may delay, refuse or cancel an instruction where reasonably necessary to:
- comply with law, sanctions, court orders or regulatory obligations;
- investigate fraud, error, security incidents or suspicious activity;
- protect users, NXT or a Payment Partner;
- complete verification or resolve a dispute; or
- respond to technical or operational problems.
Where lawful and reasonably practicable, we will provide notice or information about a restriction. We may be prohibited from explaining certain compliance actions.
16. Financial-crime compliance
You must not use the Services to launder proceeds of crime, finance terrorism, evade sanctions, conceal beneficial ownership or facilitate unlawful activity. We may screen users, beneficiaries and Transactions and may request supporting documents.
We may block, reject, freeze, report or disclose information about a Transaction where required or permitted by applicable anti-money-laundering, counter-terrorist-financing, sanctions, fraud-prevention or other law.
17. Prohibited use
You must not use or attempt to use the Services to:
- commit fraud, deception, unauthorised payments or unlawful trade;
- purchase or sell prohibited goods or services;
- facilitate illegal gambling or any activity unlawful in the relevant jurisdiction;
- evade sanctions, restrictions, fees or Transaction limits;
- interfere with, reverse engineer, scrape, overload or exploit the application;
- use another person’s identity, Account or payment method without permission;
- abuse a promotion, referral programme, refund or dispute process; or
- infringe another person’s privacy, intellectual property or other rights.
We may suspend or close an Account involved in prohibited activity and may report the matter to the relevant authority.
18. Third-party providers and networks
The Services may depend on banks, card schemes, mobile-money operators, payment processors, identity providers, app stores, telecommunications networks and blockchain networks. Their terms, limits, fees, processing times and privacy practices may apply separately.
NXT does not control an independent provider or decentralised network and cannot guarantee its availability, acceptance or completion times. To the extent permitted by law, we are not responsible for a failure caused solely by a third party or event outside our reasonable control. This does not exclude responsibility for our own acts or omissions or any duty that cannot lawfully be excluded.
19. Security and fraud prevention
We use security controls intended to protect the Services, but no service is completely secure. You must use a secure device and network, install updates, review Transaction notifications and be alert to scams.
NXT personnel will not ask you to disclose a password, PIN or one-time verification code. Do not rely on an unsolicited call, message, payment request, QR code or link merely because it appears to use NXT branding.
20. Availability and changes to the Services
The Services are provided on an “as available” basis. Maintenance, network congestion, security events, provider outages, law or circumstances outside our reasonable control may interrupt or delay access.
We may add, change, suspend or discontinue a feature. Where a material change adversely affects you, we will give reasonable notice where practicable and legally permitted. Nothing in these Terms guarantees uninterrupted or error-free operation.
21. Privacy
Our Privacy Policy explains how we collect, use, share, store and protect personal data. By using the Services, you acknowledge that your personal data will be processed as described there and as required to provide the Services, meet legal obligations and prevent fraud.
Blockchain Transactions may create public, permanent records. Do not include unnecessary personal information in a public blockchain Transaction.
22. Communications and support
We may provide legally permitted notices through the application, SMS, email, push notification or our website using the contact details associated with your Account. You are responsible for keeping those details current.
Use the official in-app support channel for questions, suspected fraud, Transaction investigations or complaints. We may request proof of payment, identity evidence or other information needed to investigate.
23. Intellectual property
NXT and its licensors own the application, branding, software, content and related intellectual-property rights. We grant you a personal, limited, non-exclusive, non-transferable and revocable right to use the application for its intended purpose, subject to these Terms.
You may not copy, modify, distribute, sell, licence or commercially exploit the Services except where applicable law expressly permits it.
24. Closing or terminating an Account
You may request Account closure through an official support channel, subject to pending Transactions, investigations, disputes, legal holds and applicable fees. You should cash out any available balance before closure where the feature is available.
We may suspend or close an Account for a material breach, prohibited use, security risk, verification failure, legal requirement, prolonged inactivity or discontinuation of the Services. Where lawful and reasonably practicable, we will give notice and provide a way to withdraw an undisputed available balance.
We may retain records after closure where required by law or reasonably necessary for disputes, fraud prevention, security and legitimate business purposes, as described in the Privacy Policy.
25. Liability
Nothing in these Terms excludes or limits liability for fraud, wilful misconduct, gross negligence or any liability or consumer right that cannot lawfully be excluded or limited.
Subject to the paragraph above and to the maximum extent permitted by law, NXT is not liable for indirect, incidental, special or consequential loss, loss of profit or loss of opportunity arising from your use of the Services. We are also not responsible for loss caused solely by:
- incorrect recipient, address, network or account details supplied by you;
- your failure to protect your device or credentials or to report compromise promptly;
- an independent Payment Partner or network outside our reasonable control; or
- an event outside our reasonable control that we could not reasonably prevent.
Any limitation applies only to the extent it is fair, lawful and enforceable in the relevant circumstances. The Services are not supplied with a guarantee that every feature will always be available or suitable for every purpose.
26. Complaints
Please submit a complaint through the official in-app support channel and include the Transaction reference, date, amount and a clear description of the issue. We will acknowledge and investigate the complaint in accordance with applicable law and any relevant Payment Partner process.
Nothing in these Terms prevents you from referring a matter to a competent regulator, consumer-protection body or court where you have the right to do so.
27. Changes to these Terms
We may update these Terms to reflect legal, regulatory, security, operational or product changes. We will provide reasonable notice of a material change through the application, website, email, SMS or another appropriate channel.
The revised Terms take effect on the date stated in the notice. Where the law requires your express consent, we will request it. Otherwise, continued use after the effective date constitutes acceptance; if you do not accept, you must stop using the Services and may request Account closure.
28. Governing law and disputes
These Terms are governed by the federal laws of the United Arab Emirates as applied in the Emirate of Dubai and, where applicable, the laws of the Emirate of Dubai.
Subject to any mandatory consumer right or competent regulatory process, the courts of Dubai have exclusive jurisdiction over disputes arising from or connected with these Terms or the Services.
29. General terms
If a provision is held invalid or unenforceable, the remaining provisions continue in effect. A delay in enforcing a right is not a waiver. We may assign or transfer our rights and obligations as part of a lawful restructuring, sale or service transfer, subject to applicable notice and data-protection requirements. You may not transfer your Account or rights without our written consent.
These Terms, the Privacy Policy, the Risk Disclosure Statement and any product-specific terms presented to you form the agreement governing the Services. If product-specific terms conflict with these Terms, the product-specific terms control for that feature to the extent of the conflict.
30. Contact
For support, complaints or questions about these Terms, use the official support channel in the NXT Pay application. Correspondence should identify VELONXT INFORMATION TECHNOLOGY L.L.C S.O.C and, where relevant, Dubai commercial licence number 1643456.