Payment Terms for Drop Innovations Limited
- Scope of Payment Terms
These Payment Terms apply to all users of the Drop platform, including but not limited to:
– Riders/Customers
– Drivers
– Car Rental Companies
– Chauffeur Service Providers
– Other Third-Party Service Providers
By engaging in any transaction on the Drop platform, you consent to these terms as part
of the overall Terms of Service.
- Payment Methods
Drop Innovations accepts a variety of payment methods to accommodate the diverse
preferences of our users, including:
2.1 Credit/Debit Cards**
We accept Visa, MasterCard, American Express, and other major credit/debit cards for
seamless online transactions.
2.2 Mobile Payments
Payments can be processed through mobile platforms such as Apple Pay, Google Pay,
and other supported e-wallets.
2.3 Bank Transfers
For larger transactions (e.g., corporate accounts or car rental payments), we support
direct bank transfers, subject to verification.
2.4 In-App Wallet
Users may load funds into an in-app wallet, which can be used to pay for services on the platform.
2.5 Cash Payment
Drop Innovations offers a cash payment option for users who prefer to settle their
transactions in cash.
– Cash Payment Process:
– Riders selecting cash payment will be required to have the exact fare ready at the
end of the service.
– Drivers will collect the cash payment directly from the rider at the conclusion of the
trip.
– For security reasons, drivers may only carry limited amounts of cash. As such, large
cash payments (for long trips or car rentals) may require advance notice or confirmation
of cash availability.
– Car rentals or chauffeur services booked through Drop that include cash payments
may also require an upfront deposit, payable via cash or another approved method.
- Billing Process
3.1 Rides and Service Charges
For services such as rides, car rentals, and chauffeurs, Drop will automatically calculate the total fare or service charge at the end of each trip or service based on the following
factors:
– Distance Traveled
– Time Spent
– Applicable Discounts or Promotions
– Additional Fees: Such as tolls, parking, or waiting charges.
Once the service is complete, the total cost will be displayed to the user, and the
payment will be processed using the payment method linked to the account, or collected
in cash as appropriate.
3.2 Pre-authorization for Non-Cash Payments
For certain transactions (e.g., long-distance rides, car rentals, or high-value services),
Drop may place a temporary hold on your payment method to ensure funds are
available. The pre-authorization amount will not be charged but held until the final cost is calculated and charged.
- Refund Policy
4.1 Refund Requests
Drop Innovations allows users to request refunds under specific circumstances, such as:
– Service Disruptions: If the service was not delivered as expected due to driver or
platform errors.
– Cancellation Errors: If the ride or service was canceled incorrectly, leading to anunnecessary charge.
All refund requests must be submitted within 30 days of the transaction. To submit a
request, you can contact Drop support through the app or by email.
Refunds are only applicable to non-cash payments (e.g., credit card, mobile payments,
in-app wallet). Cash payments are non-refundable, except in cases where a driver or
service provider has failed to deliver the service as agreed. In such cases, a refund may
be issued in the form of in-app wallet credit.
- Cancellation Fees
Drop Innovations allows users to cancel services (e.g., rides, rentals) under the
following guidelines:
5.1 Rides
– Free Cancellation Window: You can cancel a ride within the first 2 minutes of a driver
accepting your request without incurring a fee.
– Cancellation Fee: After the free cancellation window, a cancellation fee will apply. This
fee is designed to compensate drivers for their time and resources.
– Cash Payment Cancellation: If you opted for a cash payment and cancel after the
free window, you may still be liable for the cancellation fee, payable via an alternative
method before your next ride.
5.2 Car Rentals and Chauffeur Services
– Advance Notice: Cancellations for car rentals or chauffeur services must be made at
least 24 hours before the scheduled start time to avoid penalties.
– Late Cancellation Fee: If you cancel within 24 hours of the scheduled service, a late
cancellation fee will be charged, up to 50% of the total service cost, depending on the
provider’s policy.
- Disputed Charges
If you believe a charge on your account is incorrect, you may dispute it by contacting
Drop Innovations’ customer support.
6.1 Dispute Timeframe
All disputed charges must be reported within 30 days from the date of the transaction.
Beyond this period, Drop reserves the right to refuse dispute claims.
6.2 Dispute Resolution
Drop will investigate disputed charges thoroughly. The following factors will be
considered:
– Trip or Service Logs
– GPS Data
– Driver and User Feedback
– App Usage Data
After a full investigation, Drop will either issue a refund or provide an explanation of the
charges. The resolution process typically takes up to 14 days. For disputes involving
cash payments, refunds will typically be issued as in-app credits.
- Taxes and Additional Fees
Drop Innovations charges all applicable taxes and fees related to the use of its services.
These include:
– Local, State, and Federal Taxes
– Service Fees: Drop may charge a service fee for processing certain transactions, such
as car rentals, special dispatches, or premium services.
7.1 Rider Taxes
Riders may be subject to sales tax, VAT, or other applicable taxes on rides and services
based on their local regulations.
7.2 Driver Taxes
Drivers are responsible for ensuring that they comply with all tax regulations in their
jurisdiction. Drop provides tax summaries to drivers but does not withhold income tax
unless required by law.
- Promotions, Discounts, and Credits
From time to time, Drop Innovations may offer promotions, discounts, or credits to its
users. These are subject to the following terms:
8.1 Promotional Code Usage
Promotional codes must be applied before the start of the service. Each code may have
specific conditions, including expiration dates, minimum spend requirements, or
restrictions to specific services or locations.
8.2 In-App Wallet Credits
Drop may issue credits to users for future rides or services. Credits cannot be
exchanged for cash, are non-transferable, and must be used within the timeframe
specified in the promotion.
- Driver Payouts
9.1 Payment Cycles
Drivers receive payouts on a weekly basis, unless otherwise specified in their contract.
The payout amount is calculated based on completed rides or services minus Drop’s
commission and any other applicable fees.
9.2 Commission and Fees
Drop charges a commission on all driver earnings. The commission percentage is
disclosed during the driver’s onboarding process and is subject to change with notice.
Drivers may also incur additional fees, such as processing fees for withdrawals or
account management.
9.3 Withholding Payments
Drop reserves the right to withhold driver payouts if there are unresolved disputes, fraud
investigations, or breaches of contract. Drivers will be notified of any such withholdings
and provided with instructions on how to resolve the issue.
9.4 Cash Payments to Drivers
Drivers accepting cash payments must reconcile these earnings with Drop through the
app. The reconciliation process may include submitting proof of cash receipt, which will
be reflected in the driver’s earnings for that week. Failure to report cash earnings may
result in delayed payouts or account suspension.
- Payment Security
Drop Innovations prioritizes the security of all financial transactions on its platform.
10.1 Data Encryption
All payment data is encrypted using industry-standard SSL encryption protocols to
prevent unauthorized access.
10.2 Third-Party Payment Processors
Drop partners with reputable third-party payment processors. These processors comply
with the highest standards of security, including PCI-DSS certification, to ensure your
data is protected.
10.3 Fraud Prevention
Drop employs real-time fraud monitoring to identify and prevent fraudulent transactions.
Suspicious activity may result in the temporary suspension of your account until the
issue is resolved.
- Termination of Services for Non-Payment
Drop Innovations reserves the right to terminate or suspend your access to the platform
for non-payment or any breach of these Payment Terms.
11.1 Outstanding Balances
Users with outstanding balances will not be able to access services until the debt is
settled. In cases of persistent non-payment, Drop may refer the matter to collections or
pursue legal action.
11.2 Reinstatement of Service
To reinstate your account after a suspension for non-payment, you must pay the
outstanding balance in full, including any late fees or penalties.
- Modifications to Payment Terms
Drop Innovations reserves the right to modify these Payment Terms at any time. Users
will be notified of any significant changes via email or in-app notifications.
12.1 Effective Date of Changes
Any changes to the Payment Terms will take effect immediately for new users and after
30 days for existing users. If you do not agree with the updated terms, you have the
right to discontinue using the platform and request the closure of your account.
- Contact Information
For questions regarding these Payment Terms or your account, please contact us at:
Drop Innovations Limited
Email: paymentsupport@ridedrop.ng
Address: 93, CMD ROAD SHANGISHA IKEJA, LAGOS
Phone: