Terms of Service

Written by Lightning Pay Limited

Updated March 27, 2024



Lightning Pay provides Services allowing its New Zealand individuals and merchants to buy and sell Bitcoin. In addition, Lightning Pay provides Services to Merchants and Business users providing them a means to accept payments in bitcoin from their customers in exchange for goods and services, providing the option to have bitcoin forwarded to an external wallet, or sell bitcoin and receive NZD in their bank account.

These Terms of Service apply to all users of our platform. It should be read in conjunction with our Privacy Policy. By accessing or using the platform or the services within, you acknowledge and agree that you have read these documents.

The usages of the offered services are limited only for New Zealand residents and citizens, and limited only to geographical areas governed by New Zealand law.


Acceptance of Terms of Service

These Terms of Service apply to the platform (lightningpay.nz), all of its subdomains, our mobile app, and application program interfaces (APIs) (referred to in this document as “The Platform”) that is owned and operated by Lightning Pay Limited, NZBN 9429051417789 (hereinafter referred to as: “The Company”, “We”, “Our”, “Ours”).

Please read the following Terms of Service carefully. If you (hereinafter referred as: “You”, “User”, “Users”) do not accept the following Terms of Service, the usage of the platform is not permitted.


User Account

To use the Platform and Services, you must register and create an account with us (User Account).

You must be eighteen (18) years of age or older to use The Platform or any of our Services. By using This Platform and the Services of The Company, you warrant and represent that you are at least eighteen (18) years of age.

When you create a User Account, you will provide personal information to us and you must ensure all of this is accurate and current. The Company reserves the right to terminate your User Account if it suspects any inaccuracy of the personal information provided. In addition, you authorize Lightning Pay to use your personal information to verify your identity, either directly or by a third-party service, in accordance with our Privacy Policy.

The User agrees they are solely responsible for the security of their login information (email account and two-factor authentication). The company may freeze or terminate a user account if it suspects the User Account has been compromised.


Risks Acknowledgment

The User must acknowledge that bitcoin that has left The Platform is no longer the responsibility of the Company. It is the User’s responsibility to ensure that the instructions provided to the company for the destination of user funds is accurate and complete. In addition, the user acknowledges that the security of the wallet or destination of funds is solely their responsibility, and the company has no control over the security of an end user wallet. 

The user acknowledges that Bitcoin carries risks, and before using The Platform, they will ensure they are informed about these risks.

Risks presented by trading or holding bitcoin include but are not limited to significant price volatility and tax liabilities. Financial loss could be significant.

The user will carefully review any support or informational material present on the Platform to ensure compatibility with The Platform and its withdrawal mechanisms with the users external wallet or software.


Fees and Payments

When a user places an order to buy or sell Bitcoin on This Platform, the User is provided with an estimate of the rate. The rate is estimated until we receive funds from the user, and is not final until the transaction has been completed.

The quoted rate on The Platform is only valid for a limited time, and you must pay promptly in order to secure the quoted rate. 

The User acknowledges that We charge a fee or commission for the purchase or sale of Bitcoin, or other potential actions performed on the User Account. The User also acknowledges that fees may be incurred that are out of the control of the Company or The Platform. Specifically, any fees incurred to transfer bitcoin in and out of the service are not the responsibility of The Company, but are solely the responsibility of the User. 

The User acknowledges that as soon as we receive payment, you have entered into a transaction that will be executed at the best rate (with fees added) available at the moment the transaction arrives at The Platform, and the details of the transaction are final, and cannot be changed. 

Lightning Pay is a non-custodial exchange. The User agrees to withdraw any purchased Bitcoin from the platform, as soon as practicable, utilizing the withdrawal services of The Platform. 


Merchant and Business Services

In addition to the Lightning Pay exchange service, the Platform provides merchants and businesses a means to accept payment in bitcoin from their customers in exchange for goods and services. Payments are received by the Merchant or Business into their User Account. Lightning Pay will direct payments as instructed by the merchant or business user, and will not take custody of user funds.

The User may elect to receive final settlement in NZD at the time of payment, in part or in full, bitcoin received to the User Account will be sold as instructed. The User acknowledges that the bitcoin received for payment in return for goods and services is a contract between the User and their customer, as Lightning Pay is not a party to the transaction. 

If instructed by the User, Lightning Pay will send bitcoin received to the User Account, in part or in full, to an external wallet immediately upon receipt to the User Account. The User Acknowledges that it is their responsibility to ensure the accuracy of any instructions provided to Lightning Pay. The User also acknowledges that Lighting Pay is not responsible for the security, reliability or performance of an external software wallet. In the event of a payment failure to the User’s designated wallet, it is the User’s responsibility to withdraw any bitcoin from Lightning Pay as soon as practicable.

All transactions are final. The User takes full responsibility for the transaction between a Merchant or Business user and its client.


User Conduct

By using The Platform, you agree that you will only use the platform for legitimate purposes, and that they will comply at all times with New Zealand Law.

If The Company suspects any unlawful or illicit activity, it may immediately suspend or freeze a user account, pending investigation, and may forward any information it may have about the user or their transactions to law enforcement.

The User agrees they  will not attempt to interfere or impair The Platform in any way that may cause damage to The Platform, other users, or The Company.

The Company reserves the right to terminate without prior notice an account if suspects or doubts of the accuracy of the provided personal data and information, or if anyone who is not the registered User is allowed to access The Platform.

At the request of any government body, The Company reserves the right to terminate or suspend an account without notice.


Intellectual Property

The user acknowledges that all intellectual property rights in and to The Platform, is protected by copyright law and other intellectual property laws. All materials, including the Services, the software operating the platform, any content, images, logos, and media are property of The Company.

The user is granted non-exclusive, non-transferrable, and revocable rights and license to use The Platform and The Services according to these terms of service.

Any reproduction or use of the content within The Platform or its Services, unless explicitly granted to the User by the Company in writing, is prohibited.



The Company may terminate a User Account without prior notice, under its sole discretion, for any reason, including but not limited to breaches of the terms of service.

The company will, unless restricted by regulation or law, provide you with the reason for suspension or termination, and will use reasonable endeavors to restore your access if you provide demonstration that the reason for suspension or termination no longer exists.


Disclaimers and Limitations of Liability

Except in accordance with applicable law, including but not limited to the Fair Trading Act of 1986 or the Consumer Guarantees Act of 1993, The Company provides no warranty, and the services within are only provided on an “as is” basis. The User acknowledges that the company is not liable for any caused manage, loss of funds, or expenses that may occur while using the Platform.

The User acknowledges that any transactions entered into on The Platform are entirely at your own risk, and the company is not liable for authenticity, completeness, functionality on The Platform. 

The user Acknowledges that upon withdrawal, the completeness and accuracy of the information provided are solely their responsibility, and not the responsibility of the Company. The Company does not warrant against loss of funds due to incompatibility between the services and a user's own wallet or its selected destination for purchased bitcoin.


Third Party Content

The company will not be liable or responsible in any way for the accuracy, legality, information or any aspect of the content or services provided by third-parties on external websites or services, including those websites or services that may be linked to on The Platform.

We make no representation to the security or reliability of external services linked on The Platform or its services. Any personal information that may be collected by a linked third-party service or website is not the responsibility of The Company, and The Company is not liable for any breaches relating to the User’s personal information. 



To the maximum extend permitted by applicable law, The User shall indemnify The Company, its executives, agents, employees and affiliated companies for any claim, damages, liabilities, penalties, or costs associated with any claim asserted by a third party attributable to Users activity on The Platform. 

This indemnity includes without limitation, liability relating to intellectual property rights, defamation and breaches of privacy and liability related to damages made on the platform.


Dispute Resolution

Lightning Pay is committed to ensuring that we treat all of our customers fairly. Any complaints or disputes should be handled in a timely manner.

Should you have the need to lodge a complaint, you can contact Lightning Pay via email at support@lightningpay.nz

If for any reason, we are unable to resolve your complaint through our internal process, Lightning Pay is also a participant of the IFSO Scheme (5007317). The IFSO Scheme provides a free, independent dispute resolution service to consumers.  You can contact the IFSO Scheme by:

Email: info@ifso.nz   

Website: www.ifso.nz or make an online complaint.

Freephone: 0800 888 202

Address: P O Box 10-845, Wellington 6143



The terms of service can be amended or changed in part or in their entirety at any time. The new terms will be effective after 7 days after publication on The Platform, unless the change is required by law to go into effect at an earlier time. By continuing to use the services or The platform, you agree to any changes to these terms of service.

The User may be notified of changes to the terms of service, at the discretion of The Company. In any case, the User should periodically check the terms of service for updates. 

If the User does not agree with the amended terms, you must stop using The Platform or its services.


Auditing and Monitoring

The Company, The Platform and its services endeavor to provide users with as many personal data protections and privacy assurances as we can, but the law and regulation may require us to monitor, audit or review transactions for suspicious activity.

If alerted to suspicious activity, The Company will take any action it believes it must take in accordance with our policies, and the policies of our regulatory supervisors, including the suspension of the User Account, or reporting any suspicious or illegal activity. 


Contact Information

For any other questions about the Platform or the Services, please contact us at support@lightningpay.nz