1. Introduction and Acceptance
Welcome to ECO Rewards, a rewards-as-a-service platform operated by ECO Rewards Management Limited (“ECO Rewards,” “we," "us," or "our"). These Terms and Conditions ("Terms") govern your use of the ECO platform, website (www.geteco.io), and related services. By creating an account, accessing, or using ECO Reward services, you agree to be bound by these Terms. If you do not agree to these Terms, you may not use our services.
2. Platform Description
2.1 ECO Description
ECO Rewards is a digital rewards platform that enables merchants to reward users with ECO and enables users to earn, manage, and spend ECO across participating businesses.
2.2 Definitions
- ECO: A digital reward system, not a cryptocurrency or digital wallet, used to incentivize user engagement and allow spending across approved businesses in the ECO Rewards network.
- Merchant: A business or individual who registers on the ECO Rewards platform to reward customers and receive ECO as payment.
- User: An individual who receives and spends ECO rewards through interactions with merchants.
- PayID: A unique identifier used to send or receive ECO.
- Transaction PIN: A 4-digit security code used to authorize ECO-related transactions.
3. Account Types and Eligibility
3.1 General Eligibility
- You must be at least 18 years old to create an account.
- You must provide accurate, complete, and current information.
- You are responsible for maintaining the confidentiality of your account credentials.
- Platform available internationally with no geographic restrictions.
3.2 Merchant Accounts
Merchant accounts are for businesses that want to:
- Reward customers with ECO
- Accept ECO as payment for goods/services
- Create multiple business applications under one account
- Convert ECO to fiat currency or digital tokens
3.3 User Accounts
User accounts are for individuals who want to:
- Receive ECO as rewards
- Spend ECO at participating businesses
- Transfer ECO to other users
4. Account Creation and Verification
4.1 Registration Process
- You must provide a valid email address and create a secure password
- You must complete email verification via OTP
- You must create a unique ECO Rewards PayID and Transaction PIN
- You must provide valid personal/business information
4.2 Verification Requirements
Unverified Accounts: Can fund accounts and receive ECO. Verified Accounts are required for converting ECO to fiat currency or digital tokens, adding new business applications (merchants) and full platform functionality. Verification involves KYC, including phone number submission.
5. ECO Rewards
5.1 Nature of ECO Rewards
ECO is a digital reward with a fixed exchange rate of 1 ECO to 60 Nigerian Naira. We reserve the right to adjust this rate at any time, with prior notice to users and merchants. ECO is not a cryptocurrency or investment instrument.
ECO can be earned, transferred, and redeemed within the platform ecosystem. Users cannot convert ECO to fiat currency or digital tokens; ECO can only be spent at participating merchants.
5.2 Earning ECO Rewards
Users may earn ECO in a variety of ways determined by the issuing merchant, including but not limited to:
- Making purchases
- Participating in merchant promotions or campaigns
- Returning as loyal customers
- Receiving performance-based or gift-based rewards from employers
- Completing platform-hosted tasks or gamified experiences (forthcoming)
The amount and conditions of ECO rewards are determined by the issuing merchant or platform campaign.
5.3 Spending ECO
Users can spend ECO at any merchant that accepts ECO as a form of payment, including but not limited to:
- Airtime or data
- Gift cards
- Movie tickets
- Food and beverages
- Retail products
- Wellness or spa services
- Travel and flight tickets
- Pharmacy or grocery items
ECO cannot be transferred for cash or withdrawn into a bank account by users.
6. Merchant Obligations and Services
6.1 Merchant Responsibilities
- Provide accurate business information
- Honor ECO redemptions according to stated terms
- Maintain appropriate customer service standards
- Comply with applicable laws and regulations
- Use ECO for legitimate business purposes only
6.2 Multiple Business Management
- Merchants can create multiple "Apps" under one account
- Each App represents a separate business entity
- ECO can be transferred between merchant's own Apps
- Separate management and reporting for each App
6.3 ECO Conversion
Verified merchants can convert ECO to fiat currency or digital tokens. Withdrawals are subject to processing procedures. Conversion rates and fees are specified in our fee schedule.
7. User Rights and Responsibilities
7.1 User Rights
- Access and manage ECO balance
- Transfer ECO to other platform users
- Redeem ECO at participating businesses
- Update account information and security settings
7.2 User Responsibilities
- Protect Transaction PIN and account credentials
- Use platform for legitimate purposes only
- Provide accurate information for transactions
- Comply with merchant terms when redeeming ECO
8. Transaction Requirements and Security
8.1 Transaction Authorization
- All transactions require Transaction PIN verification
- All transactions must include required remarks/descriptions
- Users/Merchants are responsible for accuracy before confirmation
8.2 Transaction Processing
- ECO transfers are processed immediately
- Transaction history is maintained
- Fees may apply to ECO transfers
8.3 Security Measures
- Email verification for account access
- Transaction PIN protection for all ECO movements
- Maintain account security
9. Platform Rules and Prohibited Uses
9.1 Prohibited Activities
You may not use ECO Rewards to conduct illegal activities, create multiple accounts to circumvent limits, manipulate or exploit the system, engage in fraud, share credentials, or use automated systems without permission.
9.2 Content and Conduct
- Provide accurate information
- Respect other users and merchant partners
- Comply with applicable laws
- Report suspicious activity
10. Fees and Charges
10.1 ECO Transfers
Fees may apply for sending or receiving ECO.
10.2 Merchant Services
Fees may apply for conversions, package purchases, and withdrawals. ECO conversion to fiat at fixed rate of 1 ECO = ₦60.
10.3 Fee Changes
We may modify fees with reasonable notice.
11. Platform Availability and Modifications
11.1 Service Availability
Platform is available 24/7 with possible maintenance windows; uninterrupted service not guaranteed.
11.2 Platform Modifications
We may modify features, update Terms, or suspend services with notice.
12. Account Suspension and Termination
12.1 Termination by User
Users may close accounts at any time. Outstanding ECO must be redeemed or transferred before closure.
12.2 Termination by ECO Rewards
We may suspend or terminate accounts for violations, fraud, inactivity, or regulatory reasons.
12.3 Effects of Termination
Service access ceases; balances may be forfeited if unredeemable; records may be retained per law.
13. Privacy and Data Protection
13.1 Data Handling
Personal data use is governed by our Privacy Policy.
13.2 Cookies and Analytics
We use cookies and analytics (e.g., Posthog). Continued use constitutes consent.
14. Intellectual Property
14.1 ECO Rewards Platform Rights
All platform content and functionality are owned by us.
14.2 User Content
You grant rights necessary to process transactions and provide services.
14.3 Third-Party Rights
Respect third-party intellectual property rights.
15. Disclaimers and Limitations
15.1 Service Disclaimer
Platform provided "as is" without warranties; no guaranteed redemption value outside the platform.
15.2 Merchant Relationship
We are not responsible for merchant products/services; resolve disputes directly with merchants.
15.3 Limitation of Liability
We are not liable for indirect damages, loss due to user error, or third-party issues.
16. Dispute Resolution
16.1 Customer Support
Contact support for account or transaction issues.
16.2 Dispute Process
Contact support, provide details, allow time for investigation; escalate if needed.
17. Governing Law and Dispute Resolution
17.1 Governing Law
These Terms are governed by the laws of the Federal Republic of Nigeria.
17.2 Dispute Resolution
Disputes will be addressed through good-faith negotiations, then mediation in Nigeria if unresolved within 30 days, and finally arbitration in Nigeria under the Arbitration and Conciliation Act, in English. You may also bring proceedings in Nigerian courts.
18. Indemnity
You agree to indemnify ECO Rewards and its affiliates from claims arising from your use of the platform.
19. Disclaimers
19.1 Warranties
No warranties are made regarding availability or reliability.
19.2 Legal Tender
ECO is not legal tender and holds no monetary value outside the platform.
20. Updates to Terms
20.1 Modification Rights
We may update these Terms due to changes in functionality, law, business model, or pricing.
20.2 Notice of Changes
Significant changes will be communicated; continued use constitutes acceptance.
21. Contact Information
Customer Support: Support@geteco.io – Website: www.geteco.io – Business Address: No.39a Allen Avenue, Ikeja, Lagos
22. Severability and Entire Agreement
22.1 Severability
If any provision is unenforceable, the remaining provisions remain effective.
22.2 Entire Agreement
These Terms constitute the complete agreement regarding platform use.
By creating an ECO Rewards account and using our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions.