Risk Disclosure

Last updated 5 October 2026

Risk Disclosure

Digital money makes life easier, but every financial product carries risk. This Risk Disclosure explains the main risks of using EriPay so you can make informed decisions. It forms part of our Terms & Conditions. It does not list every possible risk and is not financial, investment, tax or legal advice. If you are unsure whether a product is right for you, please seek independent advice.

1. General risks of electronic money

• Not a bank deposit: your Wallet balance is a claim against EriPay. It is not a bank deposit, earns no interest unless a product says so, and is not protected by the Deposit Protection Fund of Uganda or any similar scheme.
• Partner risk: payments depend on mobile network operators, banks, card issuers, payment aggregators and blockchain networks. Their outages, delays or failures can delay your Transactions.
• Technology risk: internet, power or system failures, cyber attacks or software errors can interrupt the Services. We keep backups and security controls, but no system is free from risk.
• Regulatory risk: laws governing digital payments, crypto and investment products are changing in Uganda and around the world. New rules may change, limit or end certain Services.

2. Fraud and scams

Criminals use fake calls, SMS, social media accounts and websites to trick people into sending money or revealing codes. Common scams include "wrong number" refund requests, fake prize or loan offers, fake investment schemes promising very high returns, and people impersonating EriPay or agent staff. Protect yourself:

• never share your password, Wallet PIN or OTP with anyone;
• only use the official website eripays.com and the official EriPay apps;
• check the name of the recipient before you confirm a transfer;
• be suspicious of urgency, secrecy and promises of guaranteed profit; and
• report suspected scams to info@eripays.com straight away.

3. Currency exchange risk

If you hold money in several currencies, its value in your home currency rises and falls with exchange rates. Exchange rates shown in EriPay include a margin and can change between the time you view a quote and the time you confirm.

4. Digital asset (crypto) risks

• Volatility: the price of crypto assets can rise or fall sharply within minutes, and you may lose some or all of the value you hold. Even "stablecoins" can lose their peg.
• Not legal tender: crypto assets are not legal tender in Uganda and are not issued, guaranteed or regulated by the Bank of Uganda.
• Irreversible transfers: blockchain transactions cannot be reversed. Sending to the wrong address or the wrong network can mean permanent loss.
• Network risk: blockchains can become congested, change their rules (forks) or suffer attacks, which can delay transfers, change fees or affect the value of an asset.
• Liquidity risk: in fast markets it may be hard to convert an asset at the price you expect.
• Delisting: we may stop supporting an asset. We will give notice where possible so that you can convert or withdraw it.
• Tax: gains and losses on crypto may have tax consequences. You are responsible for your own tax obligations.

5. Wallet Earn risks

• Lock-up: amounts staked in a Wallet Earn plan are locked for the plan term and generally cannot be withdrawn early, even if you need the money.
• Counterparty risk: rewards and, where the plan says so, the return of principal are obligations of EriPay alone. They depend on EriPay's continued ability to pay, and they are not guaranteed by any government, bank or insurer.
• Plan terms: some plans pay rewards only and do not return the principal at maturity. Read the plan's terms, including the rate, payout schedule, term and whether principal is returned, before you stake.
• Currency of the plan: a plan denominated in a foreign currency or a crypto asset is exposed to exchange rate or price changes when measured in your home currency.
• Changes and suspension: we may change, close or stop offering plans to new stakes. Changes do not affect stakes already accepted, except where required by law.
• Not an investment product: Wallet Earn is not a bank deposit, a savings account, a unit trust or a collective investment scheme, and it is not supervised as one. Past payouts are not a guide to the future.

6. Virtual card risks

Virtual cards depend on the card issuer and card network. Merchants may decline cards, card payments may be reversed or disputed, and currency conversion and card fees may apply. If your card details are exposed, freeze the card immediately from your Account and contact us.

7. Person-to-person, merchant and agent transactions

When you pay another user, a merchant or an agent, you rely on that person to deliver what was agreed. EriPay does not guarantee the goods, services or cash provided by other users, merchants or agents. Deal only with people you trust, confirm references in the app before handing over cash, and keep evidence of what was agreed.

8. Subscriptions and recurring payments

Subscriptions renew automatically and charge your Wallet until you cancel or turn off auto-renew. Keep enough balance to avoid failed renewals, and review your active subscriptions regularly.

9. Questions

If you have questions about any risk described here, contact us at info@eripays.com before using the product.