Last updated August 8, 2024
Welcome to Paymaart! The Paymaart service, website and/or software/mobile application (collectively, the “Service”) enables you to transfer funds between your Paymaart mobile money e-wallet and the e-wallet or account of another user. You may also be able to transfer funds between your e-wallet and your bank account. You may also use your supported Paymaart mobile money e-wallet account or bank/debit card to pay for products and services offered by third parties (“Products”). The Service is operated by AfrimaxPay Limited (“AfrimaxPay”) which trades as Paymaart (“Paymaart”), subject to these Terms of Service (“Terms”).
This is a contract. These Terms constitute a contract between you and Paymaart. You may not use the Service if you do not accept these Terms. By using any part of the Service you accept these Terms. If you are under eighteen (18) years of age, you may not use the Service.
You must register an account with valid information. To use the Service, you must: (a) provide a valid mobile telephone number; (b) agree to the creation of an account associated with such number; (c) accept the present Terms; and (d) submit such other and additional information as Paymaart may request. You agree to provide true, accurate and complete information about yourself as prompted by Paymaart during the Know Your Customer (KYC) registration process. You will be given the option of receiving a unique PIN or Password for the purposes of accessing your Paymaart account. You are responsible for keeping your Paymaart PIN or Password secure.
The Service provides you with a method of discovering offers from independent third-party merchants (“Merchants”). These Merchants sell their respective Products subject to their own terms and conditions. For example:
If you decide to purchase Products such as these from third party Merchants, you do so at your own risk and subject to the relevant Merchant’s terms and conditions. The Products are not investigated, monitored, or checked for accuracy, reliability, appropriateness or completeness by Paymaart. By permitting you to discover Products via the Service, Paymaart does not imply approval or endorsement of such Products. You agree that Paymaart is not responsible or liable for the Products you purchase from Merchants.
In order to facilitate your purchases from Merchants, Paymaart has integrated its Service with the billing solutions of certain mobile money providers and bank/debit card issuing banks (“Payment Processors”). If you purchase a Product from a Merchant using your supported Paymaart mobile money e-wallet or account or bank/debit card, payments will be processed by such Payment Processors. Payment Processors have their own terms and conditions governing your use of their payment services.
You understand and agree that Paymaart does not process payments and is not responsible or liable for any transactions in which you engage. By engaging in a purchase transaction using your Paymaart mobile money account or bank/debit card, you authorize the Merchant (or Paymaart on its behalf) to bill your account or card for the purchase amount.
Paymaart takes the matters of protection and security of its users’ information very seriously. Paymaart’s privacy policy governing the Service is attached to these Terms (“Privacy Policy”). The Privacy Policy is incorporated into these Terms by this reference. By using the Service, you agree to the use of your data in accordance with Paymaart’s Privacy Policy. Paymaart’s Privacy Policy addresses only the information collected by Paymaart in providing the Service to you. Merchants and Payment Processors have their own information gathering practices that will apply when you choose to purchase Products.
If you have any questions, concerns or requests related to a Product you have purchased from a Merchant, you should contact the Merchant directly or contact us at: hello@paymaart.com. Each Merchant maintains its own customer contact desk for handling such requests, however Paymaart may do its best effort to assist you. If you wish to submit a complaint about the practices of a Merchant offering its Products via the Service, you may contact us by email at hello@paymaart.com. For additional information on how Paymaart’s deals with complaints please consult our Complaints Procedure at www.paymaart.com. By agreeing to provide its assistance, Paymaart does not accept any liability for such complaints or delays in, or insufficiency of, the response to the complaints.
You must not use the Service to violate or infringe the rights of any other person, including the rights of other users, Paymaart’s rights in the Service or Merchants’ rights in their Products. You must not breach any laws or regulations when using the Service or attempt to disrupt or interfere with the security or functionality of the Service. In the event Paymaart has the suspicion you are using the Services for illegal activities such as fraud, Paymaart will block your account immediately and reserves the right to report you to regulatory and other authorities as required by law.
You expressly agree that, as part of the Service, you may, from time to time, receive communications from Paymaart via email, instant message, telephone, text message (SMS) or other means. You may stop receiving promotional messages by emailing your request to opt-out, along with your cell phone number and/or Paymaart ID, to hello@paymaart.com, or following the opt-out instructions in the message. Even if you choose to opt out of receiving promotional messages, you may not opt out of receiving service-related messages.
Paymaart may in its sole discretion and at any time terminate your access to the Service or discontinue providing the Service or any part of the Service, with or without notice. You agree that Paymaart will not be responsible or liable to you or any third party for modifying or discontinuing the Service, or for terminating or suspending your access to the Service.
You acknowledge and agree that Paymaart’s Trust bank shall have the right to amend the interest rate applicable to Paymaart funds and you hereby indemnify and waive any/all claims of any nature against Paymaart for interest on your Paymaart funds.
You agree and acknowledge that where the funds in your Paymaart e-wallet have been flagged as or are suspected of being fraudulent in nature, Paymaart may immediately suspend your account and retain the funds pending an investigation. If you elect to lock an amount in your Paymaart e-wallet, such lock will remain in place for an agreed period time. If you elect to lift the lock on the account prior to the agreed date, you agree that Paymaart may impose a surcharge on you for lifting such lock and which amount Paymaart may immediately deduct from your Paymaart e-wallet balance. Interest accrued on your Paymaart e-wallet will be calculated daily and credited quarterly.
The Service is provided without any warranties or guarantees. THE SERVICE IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND. PAYMAART AND ITS SUPPLIERS AND AFFILIATES DISCLAIM ALL WARRANTIES WITH REGARD TO THE SERVICE, INCLUDING ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SERVICE, OR WITH ANY OF THESE TERMS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SERVICE.
Paymaart is not liable for any damages you may incur as a result of using the Services. IN NO EVENT SHALL PAYMAART OR ITS SUPPLIERS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES, OR ANY DAMAGES WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OR PERFORMANCE OF THE SERVICE, WITH THE DELAY OR INABILITY TO USE THE SERVICE, THE PROVISION OF OR FAILURE TO PROVIDE SERVICES, OR OTHERWISE ARISING OUT OF THE USE OF THE SERVICE, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, EVEN IF PAYMAART OR ANY OF ITS SUPPLIERS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
You agree to submit to arbitration any disputes in connection with, or arising from, this Agreement. This Agreement is subject to, and shall be governed by, and construed in accordance with the laws of Malawi. Any matters arising out of, or concerning the interpretation, validity or implementation of this Agreement not resolved amicably by mutual agreement between the Parties shall be submitted to a single arbitrator to take place in Blantyre, Malawi as the seat of the arbitration. The arbitration proceedings and the award itself shall be in the English language.
The arbitration shall be conducted in accordance with, and pursuant to, the Arbitration Act of Malawi. The arbitral decision shall be final and binding on the Parties and may be made an order of court. The Parties unconditionally consent and submit to the jurisdiction of the High Court of Blantyre, Malawi for such purpose. Nothing in this Agreement will be deemed as preventing Paymaart from seeking injunctive relief (or any other provisional remedy) from any court having jurisdiction over the Parties and the subject matter of the dispute as is necessary to protect Paymaart’s name, proprietary information, trade secrets, know-how, or any other intellectual property rights.
Paymaart may modify these Terms from time to time. These Terms and related policies (including but not limited to the Privacy Policy) may be modified by Paymaart without notice at any time in the future. Changes will be posted to www.paymaart.com. By using the Service, you agree to be bound by the latest version of these Terms. It is your responsibility to remain informed of any changes.
Alteration. No alteration, variation or agreed cancellation of this agreement, and this agreement’s associated Privacy Policy, shall be of any effect unless directed so by us.
Whole Agreement. This Agreement constitutes the whole agreement between the parties in regard to the subject matter hereof and no warranties or representations of any nature whatsoever other than set out in this agreement have been given by any of the parties.
Waiver/Relaxation. No relaxation or indulgence which Paymaart may show to you shall in any way prejudice or be deemed to be a waiver of its rights hereunder.
Survival. Each and every provision of this Agreement (excluding only those provisions which are essential at law for a valid and binding Agreement to be constituted) shall be deemed to be separate and severable from the remaining provisions of this Agreement. If any of the provisions of this Agreement (excluding only those provisions which are essential at law for a valid and binding Agreement to be constituted) is found by any court of competent jurisdiction to be invalid and/or unenforceable then, notwithstanding such invalidity and/or unenforceability, the remaining provisions of this Agreement shall be and remain of full force and effect.
As required by RBM’s Payment Systems (E-money) Regulations, Paymaart has established a complaints and dispute resolution procedure for its customers, merchants and agents. Details of this procedure, including how to make a complaint, are available to view here.
Last updated August 8, 2024
The terms and conditions set out herewith (this “Agreement”) shall apply to Paymaart Services provided by the Agent. By registering as a Paymaart Agent and accepting these terms and conditions, the Agent automatically agrees to abide by this Agreement. It is important that you read and understand these provisions of this agreement before registering as a Paymaart Agent. These Terms and Conditions shall together with the associated KYC registration process, herein, constitute an Agreement legally binding on you and your successors or personal representatives and assigns.
Paymaart is authorised by Reserve Bank of Malawi (“Reserve Bank” or “RBM”), according to its Guidelines for Application and Authorisation of Payment Service Providers, of October 2017, by a Letter of Authorisation (dated 02 November 2021), to engage in the provision of mobile payment and electronic-money services for the benefit of consumer and enterprise customers in Malawi;
Paymaart is seeking to appoint an Agent for the purposes of performing certain mobile payment and/or electronic money (e-money) services to consumer and enterprise customers within their defined area, including Customer, Agent and Merchant recruitment and new account registration, customer e-money payment transactions and marketing of mobile payment products/services on behalf of Paymaart, hereinafter defined in Annex 1 as the Services;
1.1. In this Agreement, the following terms and expressions shall, unless the context otherwise requires, have the following meanings:
1.1.1. “Active” means, in relation to a SIM Card, that services for which it is enabled are conducted through it on a regular basis;
1.1.2. “Agent’s Paymaart Account” means the Paymaart Account opened in the name of the Agent and featuring a unique Paymaart ID;
1.1.3. “Agent’s SIM Card” means the mobile network SIM Card and assigned MSISDN registered on the Paymaart Platform by the Agent upon registration as a Customer pursuant to clause 4.2;
1.1.4. “Agent Services” means such of the services and functions as are from time to time undertaken by the Agent pursuant to this Agreement in connection with the Paymaart Services including, but not limited to, the registration of Customers, facilitating Cash-in and Cash-out Transactions and payments to Customers, Merchants and/or Merchant Billers;
1.1.5. “Agreement” means this agreement and all Sections hereto;
1.1.6. “Applicant” means any person who applies or is in the process of applying for a Paymaart Account through the Agent;
1.1.7. “Balance” means the amount of e-money from time to time standing to the credit of the Agent’s Paymaart Account;
1.1.8. “Cash Float” means the cash to be provided and maintained by the Agent at the Outlet for the provision of the relevant Agent Services;
1.1.9. “Cash-in Fee” means the fee payable by Customer, if and where applicable, to Paymaart for each Cash-in Transaction undertaken by the Agent at the Customer’s request;
1.1.10. “Cash-in Transaction” means the payment of cash by the Customer to an Agent for the purchase of e-money from the Agent to be credited to a Paymaart Account;
1.1.11. “Cash-out Fee” means the fee payable by Customer to Paymaart for each Cash-out Transaction undertaken by the Agent at Customer’s request;
1.1.12. “Cash-out Transaction” means the process of redeeming e-money from a Customer’s Paymaart Account for cash or real-money from an Agent;
1.1.13. “Commission” has the meaning specified in clause 5.1 and includes all applicable taxes.
1.1.14. “Confidential Information” means all trade secrets, know-how, information and data (including all financial, legal, marketing, technical and other knowledge and information), whether or not in material form, relating to Paymaart and the Paymaart Services and all other confidential information disclosed by or on behalf of either Party to the other including this Agreement;
1.1.15. “Confirmation Message” means a message containing a summary of the transaction details which is delivered to both the Originating Party and the Recipient upon settlement of a Paymaart Transaction;
1.1.16. “Contract Period” means the initial period of Twelve (12) months from the Effective Date and subject to the rights of earlier termination shall automatically be renewed for further periods of Twelve (12) months each until terminated in accordance with clause 13.2 or 13.3;
1.1.17. “Customer” or “Member” means every person (including the Agent, Merchant or Merchant Biller) in whose name a Paymaart Account is KYC Registered in connection with the use of Paymaart Services;
1.1.18. “Equipment” means any equipment, device or apparatus supplied by Paymaart to the Agent for use in connection with the Agent Services;
1.1.19. “E-money” means the electronic value recorded in a Customer’s Paymaart Account, such electronic value representing that Customer’s entitlement to an equivalent amount of the cash amount held in the Trust Account;
1.1.20. “ID” means a person’s Malawi or other country national identity card or passport or other official document that confirms the holder’s identity for the purposes of KYC Registration;
1.1.21. “KYC Registration” means the structured registration process setting out required registration details and acceptance of the relevant Paymaart Terms & Conditions by a Customer, Agent or Merchant;
1.1.22. “Minimum Balance” means the e-money equivalent to MWK 100,000 (One hundred thousand Malawi Kwacha) and Physical Cash Float equivalent to MWK 100,000 (One hundred thousand Malawi Kwacha) for each agent Outlet as may be specified by Paymaart from time to time;
1.1.23. “Mobile Equipment” means the Mobile Phone and the Agent’s SIM Card;
1.1.24. “Mobile Phone” means the Agent’s mobile phone handset;
1.1.25. “MSISDN” means the Mobile Station International Subscriber Directory Number that is registered by Customer for the purpose of accessing the Paymaart Platform;
1.1.26. “Outlet” means the physical address or premises being the Agent’s place of business from which the Agent provides the Agent Service;
1.1.27. “Originating Party” means a person who initiates a Paymaart transaction whereby e-money is transferred to a Recipient;
1.1.28. “Party” means a party to this Agreement and “Parties” shall be construed accordingly;
1.1.29. “Pay-in” means the payment of cash or real money to Paymaart for the purchase of an equivalent amount of e-money;
1.1.30. “Paymaart ID” means the unique reference number provided to Paymaart members, including Agents, Merchants and Merchant Billers that, alongside their MSISDN, uniquely identifies their Paymaart account and is quoted in all Paymaart transactions;
1.1.31. “Paymaart Account” means a Customer’s Paymaart Account being the record maintained by Paymaart of the amount of e-money held by the Customer and represented by an equivalent amount of cash or real money held by Paymaart in the Trust Account on the Customer’s behalf;
1.1.32. “Paymaart Customer Terms & Conditions” means the agreement governing the relationship between Paymaart and its Customers in connection with the Paymaart Services as varied by Paymaart from time to time;
1.1.33. “Paymaart Agent Manual” means the manual issued to the Agent setting out the procedures, guidelines, methods of operation and other practical matters relevant to the provisions of the Agent Services as updated or amended from time to time by Paymaart;
1.1.34. “Paymaart Instruction” means an instruction given via Mobile App or SMS to Paymaart for the transfer of e-money from one Customer to another or otherwise to execute a Paymaart Transaction;
1.1.35. “Paymaart Member” or “Member” means an existing user of Paymaart’s services on the Paymaart Platform;
1.1.36. “Paymaart PIN” or “PIN” means a six (6) digit personal identification number being the secret code that the Agent chooses to access and operate the Agent’s Paymaart Account;
1.1.37. “Paymaart Services” means the services provided by Paymaart for the issue and redemption of e-money and the transfer of e-money between Customers on the basis of Paymaart Instructions including the recording of all Paymaart Transactions, verifying and confirming all Paymaart Transactions concluded and updating Paymaart Account records;
1.1.38. “Paymaart Platform” or “Paymaart” means the system operated by Paymaart providing the Paymaart Services;
1.1.39. “Paymaart Trademarks” & “Trade Names” means the Paymaart name and Logo belonging to Paymaart and which may only be used by the Agent in accordance with the provisions of this Agreement;
1.1.40. “Paymaart Transaction” means any transaction which results in a Customer’s Paymaart Account being credited or debited with e-money pursuant to a Paymaart Instruction;
1.1.41. “Paymaart User Guide” means the document describing the Paymaart Platform and its use;
1.1.42. “Pay-out” means the payment of cash or real money by Paymaart into the bank account of a Paymaart Customer, Agent, Merchant or Merchant Biller, in exchange for an equivalent amount of e-money;
1.1.43. “Price List” means the document setting out the Transaction Fees for Paymaart Services including Cash-in Fees and Cash-out Fees as published and updated by Paymaart from time to time;
1.1.44. “Recipient” means Customer (which may include the Agent) designated by the Originating Party to receive e-money;
1.1.45. “SIM Card” means the subscriber identity module which when used with the appropriate mobile phone equipment and mobile network service enables Customer to use the Paymaart Services;
1.1.46. “SMS” means a short message service consisting of a text message transmitted from one MSISDN to another;
1.1.47. “Supporting Documents” means all identification and other documents required to be presented by Applicants during the online KYC Registration process in support of their application for a Paymaart Account as are more particularly set out in Annex 2;
1.1.48. “Transactions” means Cash-in Transactions, Cash-out Transactions, Customer, Agent, Merchant and Merchant Biller Transactions;
1.1.49. “Transaction Fees” means the actual charges payable by Customers for use of the Paymaart Services as published from time to time in the Price List or on Paymaart’s website;
1.1.50. “Transaction Limits” means the limits placed by Reserve Bank of Malawi with respect to the value of the Transactions that may be executed by the Agent at the Outlet as specified in Annex 3;
1.1.51. “Trust Account/s” means the bank account/s maintained by Paymaart into which all payments are made and held by Paymaart on behalf of Customers.
2.1. Paymaart hereby appoints the Agent as an independent provider, on a non-exclusive basis, of the Agent Services for the Contract Period and the Agent hereby accepts such appointment on a non-exclusive basis and agrees to provide the Agent Services in accordance with the terms of this Agreement and the Paymaart Agent Manual and to perform such other acts, functions and services as it is specifically required to do pursuant to the terms of this Agreement.
2.2. It is hereby agreed and declared that no agency relationship exists between the Parties and the Agent undertakes that it shall not hold out as being Paymaart’s agent in any way or for any purpose whatsoever.
2.3. Each Party shall at all times comply with all applicable laws and regulations in Malawi.
3.1. The Agent undertakes, in accordance with the terms of this Agreement and the Paymaart Agent Manual, to:
3.1.1. use its best endeavours to register new Customers, including other Agents, Merchants and Merchant Billers, for the Paymaart Services;
3.1.2. facilitate and undertake Cash-in Transactions, Cash-out Transactions, Payments to other Customers, Merchants and Merchant Billers on behalf of Customers;
3.1.3. perform such other services and functions ancillary to the above in connection with the Paymaart Services as may be specified by Paymaart from time to time.
4.1. The Agent agrees to comply in all respects and at all times with its obligations as set out in this Agreement and to follow all procedures laid down herein and in the Paymaart Agent Manual.
4.2. The Agent shall forthwith upon execution of this Agreement, if not already done prior to such execution, register with Paymaart as a Customer and open a Paymaart Account in its name (the “Agent’s Paymaart Account”) by completing, signing and submitting Paymaart’s KYC Registration process requirements.
4.3. The Agent shall ensure that at all times during the Contract Period the Balance shall not fall below the Minimum Balance.
4.4. In facilitating the registration of new Customers, the Agent shall:
4.4.1. Ensure that the Applicant is a mobile network Subscriber with an Active SIM Card;
4.4.2. Ensure that KYC Registration is completed accurately and submitted by or on behalf of the Applicant;
4.4.3. Ensure that all Supporting Documents provided are complete and uploaded to Paymaart;
4.4.4. Ensure that the details contained in KYC Registration are verified against the Supporting Documents;
4.4.5. Ensure that copies of all Supporting Documents are verified against and conform to the originals thereof;
4.4.6. Satisfy him/herself as to the identity of the Applicant;
4.4.7. Ensure that the duly completed KYC Registration and Supporting Documents received by the Agent are uploaded to Paymaart Platform for validation and processing.
4.5. Upon submission of an Applicant’s KYC Registration Process duly completed together with all Supporting Documents, and subject to the provisions of clause 4.4, the Agent will request Paymaart to open and activate a Paymaart Account in the name of the Applicant using the Mobile Equipment.
4.6. The Agent shall use every effort to assist Applicants with respect to the KYC Registration process and initial operation of their Paymaart Accounts.
4.7. The Agent must decline to register an Applicant and shall not request Paymaart to open a Paymaart Account for the Applicant where he/she is not satisfied with the proof of the Applicant’s identity.
4.8. The Agent shall use its best efforts to ensure that he/she is in a position to undertake Cash-in Transactions and Cash-out Transactions requested by Customers at all times during the Contract Period.
4.9. In order to facilitate Cash-in Transactions, the Agent shall ensure that the Balance does not fall below the Minimum Balance and in the event that the Balance does fall below the Minimum Balance, the Agent shall immediately execute a Payment of a sufficient amount of money to raise its Balance to at least the Minimum Balance.
4.10. In order to facilitate Cash-out Transactions, the Agent shall ensure that all times he/she maintains a minimum Cash Float of one hundred thousand Malawi Kwacha (100,000 MWK) or such other amount as may be specified by Paymaart from time to time.
4.11. The Agent must ensure that in undertaking any Cash-out Transactions, cash payments are only made upon:
4.11.1. sufficient sums being available in its Cash Float;
4.11.2. checking the accuracy and completeness of the relevant Confirmation SMS; and
4.11.3. being satisfied that the recipient of the cash payments is the owner of the mobile phone on which the relevant Paymaart Instruction with respect to the Cash-out Transaction is being transmitted by verifying the Customer’s ID against the details provided in the Confirmation SMS.
4.12. In the event that the Agent has insufficient cash funds available in his Cash Float to execute a Cash-out Transaction, it must decline to carry out the Cash-out Transaction.
4.13. All Equipment supplied to the Agent by Paymaart pursuant to the delivery of the Paymaart Services shall remain the property of Paymaart and Paymaart shall replace any lost Equipment or Equipment damaged by wear and tear except where such loss or damage was caused by the Agent’s neglect or lack of care.
4.14. Notwithstanding clause 4.13, the Agent shall keep and maintain all Equipment and the Mobile Equipment in working order to the best of its ability, for use only for the purposes of facilitating the Agent Services and in connection with the Paymaart Services and shall ensure that any damage to or loss or theft of the Equipment is immediately reported to Paymaart forthwith and in any event within Twenty-four (24) hours after the occurrence of such damage loss or theft. The Agent shall indemnify Paymaart against all claims, costs and consequences that may arise as a result of any breach of this clause.
4.15. The Agent shall only use the Paymaart Trademarks for the purposes of promoting the Paymaart Services and for providing the Agent Services during the Contract Period and for no other purpose whatsoever.
4.16. The Agent shall only provide the Agent Services at the agreed Outlet within any Transaction Limits placed on such Outlet.
4.17. The Agent shall at all times comply with the terms of this Agreement and the procedures set out in the Paymaart Agent Manual as updated from time to time.
4.18. The Agent shall notify Paymaart of any event or circumstance that may have a material adverse effect on the Agent’s business and its ability to perform its obligations hereunder immediately and in any event within Five (5) calendar days of the occurrence of such event or circumstance.
4.19. The Agent shall comply in all respects with all applicable laws, ordinances, regulations, rules and orders applicable to it, its business and the use by it of the Equipment and Mobile Equipment, as well as in connection with the Agent services including, but not limited to, any anti-money laundering and anti-terrorist financing laws and regulations.
4.20. The Agent shall obtain and maintain all applicable licenses and permits required to conduct its business.
4.21. The Agent shall not be entitled to assign this Agreement to any other person without the prior written consent of Paymaart.
4.22. The Agent shall not be entitled to appoint sub-Agents for the provision of the Agent Services without Paymaart’s prior written consent.
4.23. The Agent agrees to hold in confidence all information, documentation, data, trade secrets and know-how disclosed to it by Paymaart and all other Confidential Information and shall not disclose to any other person or use Confidential Information other than in connection with the performance of this Agreement or any part thereof without Paymaart’s written approval.
4.24. The Agent shall comply with any instructions and/or directions that Paymaart may give the Agent from time to time in connection with the provisions of the Agent Services and/or the Paymaart Services.
5.1. In consideration of the Agent providing the Agent Services, Paymaart will pay the Agent a commission for every Paymaart Account opened pursuant to successful registration of a Customer by the Agent at the rates specified in Annex 1 (the “Commission”). The Commission due to the Agent will be paid by e-money to be credited to the Agent’s Paymaart Account upon validation of each Paymaart Account registered by the Agent.
5.2. The Commission may be amended by Paymaart from time to time and such amendment shall be notified to the Agent through mobile app notification, email and/or SMS within Seven (7) days of the amendment. The Agent will be required to accept the amendment of the Commission upon receipt of Paymaart’s notification, via the mobile app, or by email, as proof of acceptance by the Agent of the amended Commission.
5.3. The Agent will be responsible for any deductions or tax required to be paid by law on the Commission received.
5.4. Paymaart shall charge the Customer Cash-in Fees and Cash-out Fees, as prescribed from time to time by Paymaart in the Price List, and the Commission set out in Annex 1 shall be payable by Paymaart to the Agent for each Cash-in Transaction or Cash-out Transaction undertaken by the Agent at the Customer’s request.
5.5. Paymaart shall pay the Commissions for each month’s Transactions to the Agent at the end of the following month in accordance with Clause 5.1.
5.6. No warranties or representations are made by Paymaart with respect to potential revenues that may be earned by the Agent from the provision of the Agent Services or otherwise in connection with the Paymaart Services and no reliance should be placed on any statements or projections provided, whether in writing or verbally, in this regard.
6.1. The Agent shall treat as confidential all information relating to Applicants, Customers, and Transactions.
6.2. Each Party agrees to keep the Confidential Information confidential and agrees that it shall not without the prior written consent of the owner of the Confidential Information, disclose such Confidential Information either directly or by its representatives, employees, and/or agents, to any person or in any manner whatsoever, in whole or in part. The Parties agree that the Confidential Information shall not be used by the Parties or their representatives, employees, and/or agents other than in connection with this Agreement and each Party shall be responsible for and indemnify the other against any loss suffered as a result of any breach of this clause by their representatives, employees, and/or agents.
6.3. The Parties agree that the Confidential Information shall so remain until such information becomes part of public domain through no fault or breach of this Agreement.
7.1. The Agent shall ensure that all records in relation to the provision of the Agent Services are kept confidential including that:
7.1.1. The Agent shall not be privy to a customer’s PIN.
7.1.2. The Agent shall not share data received from customers/prospective customers with any third party.
7.1.3. The Agent shall not share any transaction history or pattern of customers/prospective customers with any third party.
7.1.4. The Agent shall not share the customers’ account details with any third party.
8.1. In the event of any loss or theft of the Agent’s SIM Card the Agent must notify Paymaart immediately in accordance with the Paymaart Agent Manual in order that Paymaart may disable the same to prevent its further unauthorized use. The Agent is responsible for any losses costs and expenses incurred in the period between the losses or theft of the Agent’s SIM Card and such time as Paymaart shall have received written notice of such loss or theft.
8.2. The Agent is responsible for the safekeeping and proper use of the Mobile Equipment, and for keeping the PIN secret, and for all Paymaart Instructions initiated using the PIN. The Agent shall indemnify and keep Paymaart indemnified against any and all actions, claims, demands, damages, liability, costs and expenses whatsoever and howsoever arising as a result of any negligent or wrongful use of the Mobile Equipment or PIN.
8.3. The Agent must not use the Mobile Equipment to commit any offence under any applicable law.
9.1. Paymaart shall supply and make available to the Agent the Paymaart mobile applications for smartphone devices running iOS and/or Android operating systems for access to Paymaart Platform.
9.2. Paymaart shall ensure that the Agent’s SIM Card and associated MSISDN is enabled to perform the relevant functionality with respect to KYC Registration of Customers.
9.3. Paymaart will validate new Paymaart Accounts upon receipt of the relevant KYC Registration and Supporting Documents duly uploaded to the Paymaart Platform by the Agent.
9.4. Paymaart reserves the right to disable the Agent’s access to the Paymaart Platform or Paymaart System at any time if it determines, at its sole discretion, that the Agent’s Account is being used unlawfully or for purposes other than in connection with the Agent Services or Paymaart Services or that the Agent is not complying with the terms of this Agreement and/or the Paymaart Agent Manual.
9.5. Paymaart excludes warranties of all kinds and shall not be liable for any costs, loss, liability or damage whether direct, special or consequential whatsoever and howsoever arising whether from any suspension or termination of this Agreement or otherwise.
9.6. Paymaart will provide the Paymaart Agent Manual to the Agent as soon as practicable after execution of this Agreement.
9.7. Paymaart shall have the right at any time during the Contract Period to inspect the Agent’s business premises, Outlets and business operations to ensure compliance with the terms of this Agreement.
9.8. Paymaart reserves the right to vary the terms of this Agreement, the Paymaart Agent Manual and the rates at which the Commission is payable at any time and for any reason whatsoever. Variations will be notified by way of email message, Mobile application Notification, SMS, or on Paymaart’s Website and/or by using any other suitable means and the Agent shall be deemed to have been notified of any such variations whether or not they have actually come to the Agent’s attention. By continuing to use the Paymaart Service after any such variation, the Agent shall be deemed to have agreed to the variations.
10.1. Paymaart shall provide the Agent with branding and advertising material at no cost but which shall at all times remain the property of Paymaart returnable on demand or upon termination of this Agreement.
10.2. The Agent shall erect, display and use all such branding and advertising material in such manner as Paymaart requires.
10.3. The Agent agrees that all goodwill accruing to any of the Paymaart Trademarks & Trade Names by virtue of the use thereof by the Agent in accordance with this Agreement shall accrue to Paymaart and that the Agent acquires no rights in any of the Paymaart Trademarks & Trade Names or other intellectual property of Paymaart.
10.4. The Agent shall promptly notify Paymaart of any actual, threatened or suspected infringement or improper or wrongful use of any Paymaart Trademarks & Trade Names or other intellectual property rights belonging to Paymaart which comes to the Agent’s attention or notice.
10.5. The Agent shall, at the expense of Paymaart, take all reasonable measures to assist Paymaart to protect and maintain Paymaart’s intellectual property rights and shall display at the Outlet, and on all stationery and literature used by the Agent, the text as specified by Paymaart from time to time disclosing to the public that the Agent is authorized by Paymaart to provide the Agent Services and is not a branch or agent of Paymaart. The Agent shall also display at the Outlet such notices with respect to trade or service marks or copyright as Paymaart may specify from time to time.
10.6. The Agent shall procure that its employees, servants or agents shall only use the Paymaart Trademarks & Trade Names, or any other intellectual property of Paymaart which the Agent is authorized to use, only in accordance with and for the purposes of this Agreement.
11.1. The Agent shall not be liable whatsoever for any loss or damage that is occasioned to Paymaart under the following circumstances:
11.2. Where loss or damage is caused by the following excepted risks:
11.2.1. War, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power, confiscation or nationalization or requisition or destruction of or damage to property by or under the order of any government or public or local authority;
11.2.2. Ionizing radiation from or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel, radioactive toxic explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof;
11.2.3. Any action taken in controlling, preventing or suppressing any of the risks outlined above;
11.3. Where loss or damage is caused by the following:
11.3.1. The negligence, act, omission or default of Paymaart or its employees, servants or agents;
11.3.2. Any defect in the Agent’s equipment or software;
11.3.3. Any faults in the telecommunications network;
11.3.4. Any technical fault or error or malfunction of the Paymaart System or the Paymaart Platform;
11.3.5. Any errors or omissions in any data entry or transaction data supplied by the Agent or the Agent’s customers.
11.4. Paymaart shall not be liable for any loss of profits, loss of goodwill or any indirect or consequential loss or damage.
11.5. Paymaart’s total liability under this Agreement shall be limited to the total Commission paid to the Agent for the preceding three (3) month period or such shorter period as may have elapsed since the Agent’s appointment under this Agreement or in the case of continuing breaches such sum as may be equivalent to the value of such breaches.
12.1. Each Party (the “Indemnifying Party”) shall indemnify and hold harmless the other Party (the “Indemnified Party”) from and against all claims, demands, actions, suits, proceedings, liabilities, losses, damages, costs and expenses