These Terms and Conditions (“Terms“, “Agreement“) are an agreement between VFD Microfinance Bank Limited (” VFD MFB, the Company“, “us“, “we” or “our“), Bvndle loyalty Limited (‘Bvndle”) and you (“User“, “you” or “your“) which governs the creation, use, and management of the VTag feature within the V Rewards Hub and the wider VFD Group Ecosystem (‘V app, “VBiz by VFD MFB”, Bvndle App”). By creating or using a VTag, you (“the User”) agree to be bound by these Terms.

1. Definition

1.1 A “VTag” is a unique loyalty username/handle assigned to or created by a User for identification across the VFD Group Ecosystem, including but not limited to the VRewards Hub, the Bvndle application, loyalty programs, referrals, gifting, challenges, leaderboards, and partner platforms.
1.2 Bvndle is the official loyalty service provider powering the VTag system and is an affiliated entity of VFD Group Plc.
1.3 A VTag forms part of the User’s loyalty identity but does not replace their VFD Microfinance Bank account number or any regulated banking identifier.

2. Eligibility & Registration

2.1 Only Users with an active and verified VFD Microfinance Bank account are eligible to create or use a VTag.
2.2 Users must authenticate using their PIN, password, biometrics, or any method prescribed by VFD Microfinance Bank before creating or modifying a VTag.
2.3 By registering a VTag, the User authorizes VFD Microfinance Bank to link the VTag to their VFD Microfinance Bank profile and VRewards activity.

3. Naming Standards & Restrictions

3.1 Users must comply with the following naming rules:

• Length: 4–15 characters
• Allowed characters: letters, numbers, underscores (_)
• Prohibited: spaces, emojis, symbols, and special characters

3.2 A VTag must be unique and must not contain:

• The terms “VFD Microfinance Bank”, “Bvndle”, “Admin”, “Support”, “The Yard”
  b. Names of public offices, brands, celebrities, or government agencies
  c. Abusive, offensive, misleading, deceptive, or impersonating content

3.3 VFD Microfinance Bank reserves the unilateral right to approve, reject, restrict, suspend, or revoke any VTag that violates these rules or is deemed inappropriate.

4. Ownership & Intellectual Property

4.1 A VTag is linked exclusively to the User who created it. It is non-transferable and may not be sold, shared, or assigned to any other party.
4.2 VFD Microfinance Bank retains full intellectual property rights over the VTag system, naming framework, and the underlying loyalty identity infrastructure.

5. Usage Rights & Responsibilities

5.1 The User acknowledges that their VTag may be displayed publicly within the VFD Group Ecosystem, including leaderboards, challenges, rankings, gifting logs, referrals, and loyalty history.
5.2 The User is responsible for all actions performed using their VTag.
5.3 Users must not use a VTag for fraudulent activities, harassment, impersonation, or any misuse of VFD Microfinance Bank services.

6. Tag Validity & Modification

6.1 A VTag remains valid for as long as the User’s VFD Microfinance Bank account remains active.
6.2 Users may modify their VTag once every 30 calendar days.
6.3 Once a VTag is changed, the previous VTag becomes available for reassignment to another User.
6.4 VFD Microfinance Bank may enforce waiting periods, restrictions, or additional verification when a User attempts to change an existing VTag.

7. Integration with Bvndle & Partner Platforms

7.1 Bvndle, as the loyalty service provider for the VFD Group Ecosystem, manages the loyalty engine that powers VTag features and functionality.
7.2 By creating or using a VTag, the User consents to VFD Microfinance Bank sharing relevant personal data with Bvndle, including:
a. Bank Verification Number (BVN)
b. Email address
c. Loyalty activity
d. Transaction histories required to compute loyalty coins, streaks, badges, rewards, and other program features
7.3 VFD Microfinance Bank and Bvndle shall process User data in accordance with applicable data protection laws and the VFD Microfinance Bank Privacy Policy.
7.4 The User consents to loyalty data synchronization and usage across Bvndle and other authorized partner platforms.

8. Data Protection & Privacy

8.1 The creation and use of a VTag involve the processing of personal data.
8.2 All personal data shared with Bvndle is used solely for delivering loyalty services, reward computation, personalization, analytics, and overall enhancement of the loyalty experience.
8.3 The User acknowledges that certain loyalty-related information (e.g., rankings, badges, challenge participation) may be visible to other Users within the ecosystem.

9. Suspension & Termination

9.1 VFD Microfinance Bank may modify, suspend, or disable a User’s VTag if:
a. The User violates any provision of these Terms
b. The VTag is associated with suspicious, fraudulent, or illegal activities
c. Required by law enforcement, regulators, or internal compliance controls
d. The User’s VFD Microfinance Bank account becomes dormant, restricted, or closed
9.2 VFD Microfinance Bank is not obligated to provide prior notice before suspending or revoking a VTag.

10. Disclaimer of Liability

10.1 The VTag service is provided “as is” and “as available.”
10.2 The User is responsible for safeguarding their device, login credentials, and authentication methods.

11. Limitation of liability

You agree that, to the extent permitted by applicable law, your sole and exclusive remedy for any problems or dissatisfaction with the Services, the third-party applications or the third-party application content is to uninstall any VFD MFB Bank software and to stop using the Services, the third-party applications or the third-party application content.

TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT WILL VFD MICROFINANCE BANK, BVNDLE AND ITS OFFICERS, SHAREHOLDERS, EMPLOYEES, AGENTS, DIRECTORS, SUBSIDIARIES, AFFILIATES, SUCCESSORS, ASSIGNS, SUPPLIERS OR LICENSORS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL (INCLUDING LOSS OF USE, DATA, BUSINESS, OR PROFITS) DAMAGES, ARISING OUT OF THE USE OR INABILITY TO USE THE SERVICES, REGARDLESS OF ANY LEGAL THEORY, WITHOUT REGARD TO WHETHER THE COMPANY HAS BEEN WARNED OF THE POSSIBILITY OF THOSE DAMAGES, AND EVEN IF A REMEDY FAILS OF ITS ESSENTIAL PURPOSE, THE AGGREGATE LIABILITY FOR ALL CLAIMS RELATING TO THE SERVICES, SHALL NOT BE MORE THAN THE AMOUNTS PAID BY YOU TO THE COMPANY DURING THE PRIOR THREE MONTHS IN QUESTION. THESE LIMITATIONS WILL APPLY TO ALL CAUSES OF ACTION, WHETHER ARISING FROM BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE) OR ANY OTHER LEGAL THEORY.

Nothing in these Agreements removes or limits the VFD Microfinance Bank’s liability for fraud, fraudulent misrepresentation, death or personal injury caused by its negligence

12. . INDEMNIFICATION

You agree to indemnify and hold VFD Microfinance Bank, Bvndle and its affiliates, directors, officers, employees, and agents harmless from and against any liabilities, losses, damages or costs, including reasonable attorneys’ fees, incurred in connection with or arising from any third-party allegations, claims, actions, disputes, or demands asserted against any of them as a result of or relating to your Content, your use of the Platform or Services or any willful misconduct on your part.

13. Amendments

13.1  VFD Microfinance Bank may amend these Terms at any time without prior notice.
13.2 Continued use of the VTag following modification of the Terms constitutes acceptance of the updated Terms.

14. 14. Governing Law

These Terms shall be governed by and interpreted in accordance with the laws and regulatory frameworks applicable to VFD Microfinance Bank in the Federal Republic of Nigeria.

15Acceptance

By creating or using a VTag, the User acknowledges that they have read, understood, and agreed to be bound by these Terms and Conditions.