1. Introduction

This Risk Disclosure Statement ("Statement") is provided by TECHNEXT - FZCO ("NXT", "we", "us", "our") to help you understand the risks associated with using the NXT mobile application and related services ("Services"). By creating an account, accessing, or using NXT, you acknowledge and agree that you understand the risks described below.

This Statement does not list every possible risk. Additional risks may exist based on your personal circumstances, the regulatory environment, and technological factors.

2. No Reversal of Transactions

Many NXT transactions, including but not limited to:

  • Merchant payments
  • Merchant payouts
  • Transfers between friends
  • Withdrawals to mobile money or bank accounts
  • Ethereum-based payments made using NXT rails

are final and irreversible once confirmed.

If you enter the wrong wallet address, select the wrong contact, or submit incorrect details:

  • The transaction cannot be reversed
  • NXT cannot recover or retrieve the funds
  • You may permanently lose the funds

You are solely responsible for verifying all details before confirming any transaction.

3. Use of Blockchain-Based Payment Rails

NXT allows users to pay or receive funds using Ethereum blockchain payment rails without holding cryptocurrency themselves. You acknowledge and understand that:

  • Blockchain transactions rely on decentralised networks outside NXT’s control.
  • Network congestion, delays, or high gas fees may affect processing times.
  • Transactions sent to the wrong blockchain address are permanently lost.
  • NXT cannot control, modify, delay, or reverse blockchain confirmations.

4. Third-Party Payment Providers

Deposits and withdrawals may involve external providers such as:

  • Mobile money operators
  • Banks
  • Card processors
  • Payment aggregators

NXT is not responsible for:

  • Delays caused by these providers
  • System downtime or outages
  • Reversals or failed payments outside our control
  • Provider-specific terms, fees, or verification requirements

You are subject to the terms and policies of each third-party provider.

5. Currency Conversion and Exchange Rate Risks

When using NXT:

  • Exchange rates may fluctuate.
  • Conversion fees may apply.
  • Rates are determined at the time of the transaction and may differ from market rates.
  • You may receive more or less local currency due to price movements outside NXT’s control.

NXT does not guarantee fixed conversion rates or protection from currency risk.

6. Regulatory and Compliance Risks

NXT operates in jurisdictions with evolving financial, payments, and digital asset regulations. You acknowledge that:

  • Regulatory changes may impact your use of NXT.
  • Some services may become limited or unavailable due to compliance obligations.
  • NXT may be required to hold, delay, or restrict transactions for AML/KYC reasons.
  • You may be requested to provide additional identification documents.

Failure to comply with verification requirements may result in suspended or closed accounts.

7. Fraud, Scams, and Social Engineering

Digital transactions are at risk of fraudulent activity. You understand that:

  • Scammers may impersonate NXT or a known contact.
  • NXT staff will never ask for your password, PIN, or one-time verification codes.
  • You should never share screenshots of your NXT balance or wallet address with untrusted parties.
  • Sending NXT to friends or contacts is at your own risk.
  • Refunds depend entirely on the recipient’s willingness to return funds.

You should exercise caution when receiving payment requests, links, or invitations.

8. Account Security Risks

You are responsible for securing your device and login details. Risks include:

  • Device theft or loss
  • Malware, keyloggers, or other malicious software
  • Unauthorised access due to weak passwords or PINs
  • Sharing your phone, PIN, or verification codes with others

If someone gains access to your device or credentials:

  • They may access your NXT account and make irreversible transactions.
  • NXT will not be liable for losses arising from compromised credentials or devices.

9. Service Availability Risks

Although NXT strives for high availability, you acknowledge that:

  • Outages may occur due to maintenance, upgrades, or technical issues.
  • Blockchain networks may experience congestion or disruptions.
  • Third-party providers may be offline or unavailable.
  • Withdrawals or payments may be temporarily delayed.

NXT does not guarantee uninterrupted or error-free service.

10. Data and Privacy Risks

While NXT uses industry-standard security controls:

  • No system is completely immune to cyberattacks or data breaches.
  • Third-party processors may be involved in storing or verifying your data.
  • Network vulnerabilities may expose certain metadata.
  • You are responsible for using secure networks when accessing your NXT account.

For more details, please refer to the NXT Privacy Policy.

11. No Financial, Tax, or Investment Advice

NXT is a payment platform, not a bank or investment advisor. We do not:

  • Provide investment advice.
  • Offer speculative or leveraged products.
  • Guarantee returns or future value of any digital asset.
  • Provide tax guidance or reporting services.

Transactions and conversions may affect your financial situation. You should seek independent advice if needed.

12. User Responsibility

By using NXT, you agree that you:

  • Understand and accept all risks outlined in this Statement.
  • Will verify all transaction details before confirming.
  • Are responsible for securing your device and login credentials.
  • Will comply with NXT’s Terms & Conditions and Privacy Policy.
  • Are aware that mistakes or unauthorised transactions may result in permanent loss of funds.

13. Limitation of Liability

To the maximum extent permitted by law:

  • NXT is not liable for losses arising from user error, incorrect addresses, irreversible transactions, fraud, device compromise, or third-party provider issues.
  • NXT’s responsibility is limited to providing the Services “as is” and acting within its technical and regulatory capabilities.

14. Contact Information

If you have questions regarding this Risk Disclosure Statement, you may contact: