DEFINITIONS AND INTERPRETATION
In this Agreement, unless the context otherwise requires, the following words and expressions shall have the following meanings:
“Account” means your MyPay Wallet Account, being the record maintained by us of the amount of E-Money from time to time held by you and represented by an equivalent amount of cash held by the Bank Trust Accounts on your behalf;
“Agent” means a person appointed to offer MyPay Wallet registration, cash in and cash out Services and includes participating ATM networks, further details of which may be obtained from MyPay;
“Cash” means the lawful currency of the Zambia;
“E Money” means the electronic monetary value depicted in your MyPay Wallet Account representing an equal amount of Cash held by the Custodian and which may be redeemed through an Agent for an equal amount of Cash;
“Foreign National” means a person who is not a citizen of Zambia irrespective of whether the person is permanently resident in Zambia.
“Log Book” means the book maintained by the Agent in which all Transactions are recorded and which serves as conclusive evidence of the successful completion of those Transactions;
“Manager” means a person who is legally authorised to access funds in your mobile wallet account in the event of your permanent disability and incapacity;
“MyPay Wallet Services” or “MyPay Wallet” means the money transfer services provided by MyPay including issuance, management and redemption;
“MyPay Wallet Service” and the “Service” refer to the services provided by MyPay through MyPay Wallet as described in this document;
“MyPay Wallet System” or “MyPay Wallet” means the system operated by MyPay providing the MyPay Wallet Services;
“Network” means the Global System for Mobile Telecommunication (“GSM”) system covering those areas within the Zambia as stipulated from time to time by us;
“Outlet Operator” means the assistant attending to you at an Agent Outlet;
“Outlet” means any shop, unit or other retail premises or portion thereof operated by an Agent;
“Participant” or “User” means any person that participates in the System by using the Services to send or receive money and includes any person that facilitates the redemption of E-Money;
“PIN” means your personal identification number being the password you choose to access and operate your Account and includes the one-time [4]-digit PIN sent to you on registration for the purpose of activating your Account;
“Pre-paid Airtime” means mobile phone calling credit on a Network;
“Registration Form” means the registration form containing registration details and your acceptance of these Terms and Conditions;
“Products and Services” means any products and services provided to you by MyPay whether under this Agreement or otherwise;
“Secret Word” means the secret password allocated to you upon activation of your Account by keying in the PIN;
“SIM Card” means the Subscriber Identity Module which when used with the appropriate mobile phone equipment enables you to use the Services; “SMS” means a short messaging service that enables the transmission of text messages from one mobile phone to another;
“Administrator” means a person who is legally authorised to access funds in your Account in the event of your death;
“Transaction” means the movement of money in to, or out of your Account;
“Trustee” means the MyPay Holding Company Limited;
“Trust Deed” means together the Declaration of Trust Deed executed by the Trustee constituting the trusts under which the Trustee holds all amounts of cash received for your Account in trust for you upon the terms and conditions therein specified;
“You” or “your” means the Customer who has registered to use the Service;
In this Agreement (including the recitals), unless the context otherwise requires:
Words denoting the singular shall include the plural and vice versa and reference to the masculine gender shall include a reference to the feminine gender and neuter and vice versa;
References to clauses are references to the clauses of this Agreement;
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References to “Parties” shall mean the parties to this Agreement being MyPay and the Client and to “Party” shall mean either of them as the context may indicate;
The expression “person” includes a natural person, body corporate, unincorporated venture, trust, joint venture, association, statutory corporation, state, state agency, governmental authority or firm; and
Headings to clauses are used for convenience only and shall not affect the construction and interpretation of this Agreement.
· MyPay operates the MyPay Wallet mobile money transfer service that allows you to send and receive money through your registered mobile phone.
· MyPay Wallet is available to all subscribers upon registration for the Services and your acceptance of these Terms and Conditions.
· You may register for a MyPay Wallet Account with any MyPay Wallet Agent or at any by completing the Registration Procedures.
· MyPay may in its absolute discretion restrict or limit the number of accounts you may operate at any one time.
· By registering to use the Service you agree to these Terms and Conditions (the “Terms and Conditions”), which shall form a legally binding agreement between you and MyPay.
· MyPay may in its absolute discretion refuse to register or revoke the registration of any person on the System.
· You may acquire E-Money in your mobile account by depositing Cash at a MyPay Agent or receiving a remittance of E-Money from another Participant, through an international money remittance from a participating remittance service provider or through any other acceptable means that MyPay may provide.
· All Transactions shall be denominated in the official local currency of Zambia. The MyPay Wallet System may not recognise any monetary value depicted as Ngwees. You hereby agree to round down any Transaction value to the nearest round number as prescribed by the System. Your Cash represented as E-Money is held in a Bank Trust Account for you by designated banks, under which the Bank declared itself bearer of the moneys held for you in the Account and other Participants as beneficiaries. By participating in and/or continuing to use the Services you acknowledge the sufficiency of the Bank as creating a valid custody over funds held by the Bank on your behalf upon the terms specified by the Bank’s terms of service.
· You acknowledge that the Trust Account Bank may treat the records of the MyPay Wallet System as conclusive evidence of the amount of E-Money at any time standing to the credit of your Account and the Trustee is not bound to make any independent investigation of your beneficial entitlement to the Cash held in the Bank Trust account.
· Subject to the prescribed Transaction limits and the provisions of these Terms and Conditions, the balance of your mobile wallet account is redeemable at any time and shall be disposed of only in accordance with your instructions given via the System.
· You acknowledge that MyPay Wallet is neither a bank nor a deposit-taking institution. However, might be associated with business operations which falls within the definition of a bank or a deposit-taking institution.
· All charges applicable to the MyPay Wallet service is set forth in a separate fee schedule available at Cash Agent outlets and as may be published from time to time by MyPay and are subject to change at any time at MyPay’s sole discretion.
· The following conditions must be met before opening an MyPay Wallet account in your name:
1) You must be at least [18] years old with capacity to enter into contracts.
2) You must complete Registration and submit it when duly completed and authorised by you. For the avoidance of doubt a completed Registration shall bear your name as it appears on your ID and such other information as may be required.
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You must provide sufficient proof of identification (ID). For the purpose of this agreement, sufficient proof of (ID) shall be an original national if you are a national; and original Alien Nation ID, Refugee ID, Diplomatic ID or Passport if you are a foreign national. Copies of the ID provided may be retained by the Agent facilitating your registration.
3) You must not provide any false, inaccurate, incomplete or misleading information.
§ Notwithstanding the generality of the foregoing, a person with Parental Authority may open and maintain an account in their name for and on behalf of a minor. For purposes of this agreement, a person with Parental Authority shall include the birth parents of a minor, legal guardian, or other person who can demonstrate legitimate authority over the minor’s affairs.
§ You are responsible for ensuring that your registration details are maintained up to date.
§ MyPay may reject your application at its discretion if any of the account opening requirements are not met or if you fail to provide us with satisfactory proof of identification.
§ MyPay reserves the right to request further information pertaining to your account at any time failure to which may result in limitation on usage of the Service, suspension or termination of the account.
§ No interest will be paid on any funds held in your MyPay Account.
§ Subject to due diligence and vetting, you may obtain an official statement of your Account from any MyPay Wallet centre for which you may be charged a fee. An official statement of account shall be conclusive evidence of the Transactions carried out on your Account during the period covered in the statement.
§ For the avoidance of doubt subject to any written laws of Zambia MyPay shall not be obliged to adduce evidence in any civil or criminal court in relation to the contents of any statement obtained from the MyPay electronic platform.
· MyPay recognizes the importance of protecting the privacy of all information provided by users of MyPay Wallet. This statement is meant to affirm our utmost respect for your rights to privacy.
· MyPay and its partners collects personally identifiable information that we use to profile Users and administer individual accounts, update databases, and provide User support.
· Save as provided hereunder, MyPay and its partners do not share your personal information with unauthorized persons and adequate safeguards have been put in place to prevent unauthorized access and to ensure confidentiality of your personal information.
· You acknowledge that by using the Services, some of your personal information will be passed on to any person whom you receive E-Money from, or send E-Money to and will be available to any third party involved in the operation of the service including without limitation, MyPay Financial Solutions Limited, Agents, ATM Switch providers.
· You hereby authorise to share with, provide or disclose to third parties with which you have separately contracted or with which you intend to contract (and have informed MyPay of this intention in writing or electronically through the MyPay Wallet System), your personal information including any Transaction data, information pertaining to you or your Account, or your usage
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of MyPay Products and Services provided that the authority given to MyPay to disclose information to such third parties (not being a law enforcement, investigative or regulatory authority) pursuant to this clause may be withdrawn at any time.
· You acknowledge that MyPay may verify your identity information through publicly available and/or restricted government databases in order to comply with regulatory requirements.
· You accept that MyPay and its partners shall have the right to monitor your account usage and may disclose personal information to local law enforcement or investigative agencies or any competent regulatory or governmental agencies to assist in the prevention, detection or prosecution of money laundering activities, fraud or other criminal activities;
· MyPay employees who handle personal information are under an obligation to treat it confidentially and may not disclose it to unauthorized third parties. MyPay employees are also responsible for the internal security of the information. Employees who violate MyPay’s privacy policies are subject to a range of disciplinary actions.
· Any person submitting any information to MyPay through the MyPay Wallet System may be granted access rights to that information. MyPay has developed systems that enable access and correction of information submitted to it.
· After your account has been opened and activated, you will be able to initiate the following Transactions:
1) load E-Money through a participating Agent outlet;
2) send E-Money to and receive E-Money from other users;
3) withdraw Cash from your Account through participating Agents;
4) withdraw Cash from your Account through participating ATM networks;
5) purchase Prepaid Airtime;
6) pay utility bills or make one-off or periodic payments or remittances to participating utility providers, financial institutions charity organisations, etc.;
7) pay for goods purchased from participating merchants;
8) manage your Account (e.g. check balance inquires, change PIN, etc.); and
9) any other Transactions as may be introduced by partners from time to time.
Conditions or policies affecting usage and shall notify you of such changes through appropriate means. Your continued use of the Service shall be deemed to be your acceptance of all such varied terms and conditions or polices.
· MyPay does not warrant that all functionalities shall be available at all times and may withdraw any functionality or the Service in general as a direct result of new or amended legislation, statutory instrument, Government regulations or policy or any other compelling reason.
· MyPay may provide additional functionality on the MyPay Wallet menu following integration with platforms of financial institutions and other entities providing you with specified services. Such functionality may give you limited access to platforms of the financial institutions or other entities. By using such functionality to gain access to other platforms, you hereby agree to indemnify MyPay against, and hold MyPay harmless from any losses arising from your access to such external platforms.
In the event of any review of our business planning, technical, public interest or operational reasons, changes within the industry, recommendations from regulatory bodies or similar events, MyPay may vary these Terms and Conditions or policies affecting usage and shall notify you of such changes through appropriate means. Your continued use of the Service shall be deemed to be your acceptance of all such varied terms and conditions or polices.
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1) Access to the MyPay Wallet Services is PIN protected. You hereby agree to guard your PIN and not to disclose it to any third party including Participating Outlet Operators, or any person purporting to have authority to ask for it.
2) You acknowledge that you shall be solely responsible for the security of your PIN. MyPay shall not be liable for any disclosure of your PIN to any third party and you hereby agree to hold MyPay harmless from any losses that may result from any PIN disclosure.
3) You are responsible for all instructions given to MyPay in relation to your MyPay Wallet Account.
4) MyPay shall deem each correct PIN entry as being performed by the legitimate owner of the account and shall regard all subsequent Transactions as validly performed by you.
· You may load E-Money into your MyPay Wallet Account only and not directly into another MyPay Wallet participant’s MyPay Wallet Account.
In order to load E-Money, you must complete the information requested,
including passing the identity and security validation and verification procedures to ascertain that you are the owner of the account and then hand over Cash equivalent to the E-Money sought to be loaded to the MyPay Wallet Agent
· MyPay reserves the right to prescribe Transaction limits and may allocate some MyPay Wallet Accounts with higher or lower limits.
· Transaction limits and charges as prescribed by MyPay shall apply each time you use the “Send Money”, “Pay Bill”, “Buy Goods” or other functionalities that effect the transfer of funds from your MyPay Wallet Account.
· Your Transaction request will not be completed:
1) If you have insufficient funds in your MyPay Wallet Account to complete a Transaction or to cover the charges for a Transaction;
2) If you have reached the maximum Account balance limit prescribed by MyPay;
3) If you have reached the daily limit prescribed by MyPay;
4) If your Account has been temporarily suspended or permanently frozen on valid grounds;
5) If there are any other compelling reasons such as temporary system delay or outage.
6) In the event that you have a low Airtime balance and are not able to make use of Short-Message-Service technology as provided by your Mobile Network Provider, the transaction might not be able to be completed.
· You may send E-Money to any Participant on the MyPay Wallet system as well as any mobile telephone user on any network in Zambia by following the instructions on your phone’s MyPay Wallet menu.
· You will be charged a fee for any transactions you undertake. The fee will be in accordance with the published tariffs.
· If the E-Money in your MyPay Wallet Account is not sufficient to carry out your Transaction (including covering the Transaction cost) request in full, the Transaction will not be completed and no E-Money will be debited from your MyPay Wallet Account.
· Upon the successful completion of your Transaction to another MyPay Wallet Participant, MyPay will immediately cause the transfer of the E-Money to the other Participant’s MyPay Wallet Account. You and the recipient will both be notified by SMS as to the completed status of your transaction.
· Where MyPay is unable to complete a transaction, you will be notified by SMS as to the reasons for not completing the transaction.
· Each Transaction you undertake will be accompanied by a unique receipt number that will appear in the confirmation SMS sent to you and will include an updated balance of your Account. This receipt number may be used to track & identify the Transactions carried out on your Account and the SMS should therefore not be deleted if reliance on it will be required.
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Upon the successful transmission of E-Money from your Account to the recipient’s MyPay Wallet account, title to the E-Money will pass to the recipient.
· Where the recipient is not registered on the MyPay Wallet System, title to the E-Money will remain with you. However, you will not be able to withdraw the funds or send the funds to any other recipient or otherwise reverse the Transaction unless the initial Transaction is cancelled by MyPay upon the failure of the recipient Participant to accept the remittance within the stipulated time-frame as provided in this agreement.
· If the recipient does not have an MyPay Wallet account, MyPay will send the recipient an SMS containing information to enable them cash the value sent to them
· If, within [7] days (or such longer period as may be determined by MyPay) of the Transaction being made to a non-registered recipient, the recipient has not opened or cashed their voucher, MyPay will cancel the Transaction and the E-Money will be sent back to your account. You will be notified by SMS of the cancellation and reversion of the E-Money.
· A Transaction once completed is final and irrevocable. As such, MyPay shall not be under any compulsion to reverse any Transaction.
· MyPay reserves the right, at its sole discretion, to cancel or reverse a Transaction if reasonable grounds such as manifest error or fraud are shown and PROVIDED that the recipient has not redeemed the E-Money and the reversal claim is made within one (1) month of the erroneous Transaction date.
· MyPay will not be compelled to refund or compensate the sender if the E-Money is sent to a recipient mistakenly or in error or fraudulently or under duress and subsequently redeemed for Cash or otherwise spent by the recipient of the mistaken, erroneous or fraudulent Transaction and you hereby agree to hold MyPay harmless for any losses arising from a mistaken, erroneous or fraudulent transfer of funds or any transfer of funds from your account effected under duress or under coercion or criminal force.
· If you are registered on the MyPay Wallet system and you receive an SMS informing you that you have received E-Money from another MyPay Wallet Participant or through an international money remittance, the E-Money shall be loaded to your MyPay Wallet Account immediately and you may redeem the E-Money at any Agent Outlet or participating ATM networks or transfer the funds to a third party by following the MyPay Wallet menu options on your mobile phone.
· If you receive funds in error you acknowledge that you shall be obliged to return the funds to the sender failing which MyPay may reverse the payment to the sender.
· You may be liable to face prosecution for consuming or utilising funds sent to you in error
· Agent Outlets: Upon passing the vetting requirements conducted by an Agent, you may withdraw your E-Money at participating Agent Outlets by accessing your Account and following the prompts on your phone’s MyPay Wallet menu; however, any withdrawal Transaction must be initiated and completed within an Agent’s premises.
· ATM Outlets: You may withdraw your E-Money at participating ATM network Outlets at any time by accessing your MyPay Wallet Account and following the prompts on your phone’s MyPay Wallet menu. You will receive a one-time voucher which should be cashed at participating ATM networks within the prescribed timeframe. Failure to do so will cause the voucher received to expire.
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