Terms and Conditions

1. Introduction

NestraPay is a Buy Now, Pay Later (BNPL) platform that allows customers to purchase products from partner merchants and pay over time through structured installments. NestraPay pays a major portion of the bill to the merchant upfront, while customers pay a small initial amount and the remaining balance in scheduled payments.

NestraPay provides a Sharia-compliant shopping facility where no direct cash is given to users. Customers can only shop products available through approved partner merchants using the NestraPay platform or application.

By using NestraPay services, you agree to comply with all terms mentioned on this page.

2. Eligibility & Account Registration

• Users must be 18 years or older.
• Only one primary account per CNIC is allowed.
• Account approval depends on:
  • Account behavior
  • Transaction history
  • Credit assessment
  • Internal verification checks
• NestraPay may approve or reject applications without disclosing the reason.

Sub-Accounts

• Main account holders may create sub-accounts for dependents (subject to good repayment history).
• If no payment method is linked to a sub-account, the main account will be automatically charged for dues.

3. Verification & Compliance

Users may be required to submit:

• CNIC details
• Biometric verification
• Bank statements
• Credit card details
• Credit score checks

Transactions may be restricted if verification is incomplete.
NestraPay complies with all applicable SBP and eCIB regulations related to its services.

4. How NestraPay Works

• Customers pay a small portion of the total bill upfront.
• NestraPay sponsors and pays the remaining amount to the merchant.
• No cash is provided to customers.
• Purchases can be made:
  • Online
  • In-store (partner merchants only)
• Eligibility status can be checked through the mobile application.

5. Payments & Repayment Rules

• Customers must repay installments according to the agreed schedule.
• Early repayment is allowed at any time.
• Payments may be automatically deducted on due dates.
• If balance is insufficient, future incoming funds may be auto-deducted.
• SMS notifications will be sent for payment reminders and updates.

6. Payment Extensions

• Users may request an extension of payment due date through the application.
• A nominal runtime fee may apply for approved extensions.

7. Late Payments & Default

• Late payments may impact your credit score.
• Continued non-payment may result in:
  • Account suspension
  • Frozen credit limit
  • Reporting to Credit Bureau (eCIB)
  • Legal action as per Pakistani law
• Default status may remain on your credit record for a defined period.

8. Fees & Charges

• NestraPay does not charge customers markup on purchases.
• A fixed percentage fee may apply only in case of overdue installments.
• Weekly service or processing fees may apply as defined in the payment plan.
• Fees are non-refundable unless explicitly stated.

9. Device & Security Management

• Maximum 3 devices may be linked to one account.
• New devices require biometric verification.
• Transactions may be blocked without proper verification.
• Users are responsible for:
  • PIN security
  • SIM safety
  • Account credentials
• Unauthorized use or misuse due to negligence remains user responsibility.

10. Data Usage & Privacy

NestraPay may collect and use:

• CNIC and personal information
• Account and transaction history
• Mobile usage and behavior data

Data may be shared with:

• Regulatory authorities
• Law enforcement agencies
• Credit bureaus
• Service partners

11. Risks & Limitations

• Network failures, fraud, or technical issues may occur.
• NestraPay does not guarantee uninterrupted service.
• Users are responsible for risks associated with third-party communication platforms.

12. Notifications & Communication

• Important updates will be sent via:
  • SMS notifications
  • In-app alerts
• Users must ensure their contact information is accurate and active.

13. Changes to Terms

NestraPay may update terms and policies at any time. Continued use of the platform means acceptance of updated terms.

14. Liability Disclaimer

• NestraPay is not responsible for product quality or merchant services.
• Misuse of services or violations of law remain the responsibility of the user.

15. Contact & Support

For assistance or queries, users may contact NestraPay support through official communication channels provided in the application or website.