Wallet Agreement & Policy

Marz Payment Gateway Agreement

This Agreement (the “Agreement”) is entered into between Marz Innovations Limited, a company with its principal place of business at UGANDA, CENTRAL, KAMPALA, NAKAWA DIVISION, BUKOTO II, SSEMPAGALA ZONE A, P.O BOX 185754 KAMPALA GPO (hereinafter referred to as “Marz Innovations Limited” or “Service Provider”), and the client.

1. Purpose of Agreement

This Agreement governs the terms and conditions under which the Client may use the Marz Payment Gateway, a digital payment and financial transaction service provided by Marz Innovations Limited. The Marz Payment Gateway allows the Client to store funds, make payments, and manage transactions through a secure digital platform in compliance with applicable regulatory frameworks.

2. Definitions

1. Marz Payment Gateway: A digital wallet service provided by Marz Innovations Limited for storing funds, processing payments, and managing financial transactions.
2. Client: The individual or entity entering into this Agreement to use the Marz Payment Gateway.
3. Funds: Any monetary value stored in the Client’s Marz Payment Gateway account.
4. Transaction: Any payment, transfer, or withdrawal initiated through the Marz Payment Gateway.

3. Services Provided

Marz Innovations Limited agrees to provide the Client with access to the Marz Payment Gateway, which includes:

1. A secure digital wallet for storing and managing funds.
2. The ability to send and receive payments to/from other Marz Payment Gateway users or external accounts via approved payment methods, subject to applicable fees.
3. Access to transaction history and account statements via the Marz Innovations Limited platform.
4. Customer support for wallet-related inquiries, available via email at info@wearemarz.com or phone at 0790809954

4. Payment Options

4.1. Funding the Wallet

The Client may fund their Marz Payment Gateway using the following approved payment methods:

1. MTN Mobile Money: Deposits via MTN Mobile Money, subject to MTN’s terms and processing times.
2. Airtel Money: Deposits via Airtel Money, subject to Airtel’s terms and processing times.
3. Card Payments: Deposits via debit or credit cards (Visa, Mastercard, or other supported providers), subject to card issuer terms and conditions.
4. Other payment methods as specified by Marz Innovations Limited on the platform or in the Marz Innovations Limited Fee Schedule (available at wallet.wearemarz.com/fees).
5. Funds added to the wallet are subject to processing times and fees as outlined in the Marz Innovations Limited Fee Schedule.

4.2. Transaction Fees

1. Marz Innovations Limited may charge fees for transactions, including but not limited to withdrawals, transfers, currency conversions, or payments via MTN Mobile Money, Airtel Money, or card payments, as detailed in the Marz Innovations Limited Fee Schedule.

FEES SCHEDULE 

Mobile Money Collections & Disbursement

*Apart from Marz to Marz transactions, all charges include telco charges

MTN & Airtel

Wallet to Bank Charges

Card Transactions - 5% per collections

1. MarzPay may change the above schedule at its discretion. Where Marz is effecting a change in the rate, a 30-day prior notice shall be issued to the client.
2. The Client agrees to pay all applicable fees at the time of the transaction.

4.3. Refunds and Chargebacks

1. Refunds for transactions are subject to Marz Innovations Limited’s refund policy, available at wallet.wearemarz.com/refund-policy.
2. For card payments, the Client agrees not to initiate chargebacks with their card issuer without first contacting Marz Innovations Limited to resolve any disputes.
3. Refunds for MTN Mobile Money or Airtel Money transactions will be processed in accordance with the respective provider’s policies and Marz Innovations Limited’s refund policy.

5. Client Responsibilities

The Client agrees to:

1. Provide accurate and complete information during the registration process, including valid identification, contact details, and payment method details.
2. Maintain the security of their Marz Payment Gateway account credentials, including passwords and two-factor authentication methods.
3. Use the Marz Payment Gateway in compliance with all applicable laws and regulations, including but not limited to the National Payment Systems Act (NPS Act), Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regulations, Financial Institutions Act (FIA), Bank of Uganda (BOU) regulations, and Data Protection Act.
4. Promptly notify Marz Innovations Limited of any unauthorized access or suspicious activity in their wallet account.
5. Be solely responsible for any taxes, fees, or other charges imposed by third parties (e.g., MTN, Airtel, or card issuers) in connection with their use of the Marz Payment Gateway.

6. Regulatory Compliance

Marz Innovations Limited operates in compliance with the following regulatory frameworks:

1. National Payment Systems Act (NPS Act): Marz Innovations Limited adheres to regulations governing electronic payment systems as stipulated by the NPS Act.
2. Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT): Marz Innovations Limited implements measures to prevent money laundering and terrorist financing, including Know Your Customer (KYC) verification and transaction monitoring.
3. Financial Institutions Act (FIA): Marz Innovations Limited complies with requirements for financial service providers as outlined in the FIA.
4. Bank of Uganda (BOU) Regulations: Marz Innovations Limited operates under the oversight of the Bank of Uganda, ensuring compliance with national financial regulations.
5. Data Protection Act: Marz Innovations Limited protects Client personal data in accordance with the Data Protection Act, ensuring secure storage, processing, and confidentiality of Client information.

The Client acknowledges that Marz Innovations Limited may require additional documentation or verification to comply with these regulations, and failure to provide such information may result in account suspension or termination.

7. Account Security and Limitations

1. Marz Innovations Limited employs industry-standard security measures to protect Client funds and data, including encryption and compliance with Data Protection Act requirements. However, the Client acknowledges that no system is completely immune to security risks.
2. Marz Innovations Limited reserves the right to suspend or limit access to the Client’s wallet account in cases of suspected fraud, unauthorized access, or violation of this Agreement or applicable regulations (e.g., AML/CFT, NPS Act).
3. The Client is responsible for maintaining adequate security and control of their account credentials. Marz Innovations Limited is not liable for losses resulting from the Client’s failure to secure their account.

8. Termination

1. By the Client: The Client may terminate this Agreement at any time by closing their Marz Payment Gateway account and withdrawing any remaining funds, subject to applicable fees and compliance with AML/CFT and BOU regulations.
2. By Marz Innovations Limited: Marz Innovations Limited may terminate or suspend this Agreement and the Client’s access to the Marz Payment Gateway with written notice if the Client violates any terms of this Agreement, fails to comply with regulatory requirements, or engages in activities deemed harmful to Marz Innovations Limited or other users.
3. Upon termination, any remaining funds in the Client’s wallet will be returned to the Client’s designated bank account or mobile money account (MTN or Airtel), minus any outstanding fees, within 30 days, subject to regulatory approval.

9. Default and Remedies

1. In the event of a breach of this Agreement by the Client, including non-compliance with AML/CFT, FIA, or NPS Act requirements, Marz Innovations Limited reserves the right to take appropriate actions, including but not limited to suspending the Client’s account, withholding funds, or pursuing legal action.
2. If the Client fails to pay any fees or charges due under this Agreement, Marz Innovations Limited may deduct such amounts from the Client’s wallet balance or pursue other collection methods.

10. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of Uganda, with specific adherence to the National Payment Systems Act, Financial Institutions Act, and other applicable regulations under the oversight of the Bank of Uganda. Any disputes arising under this Agreement shall be resolved in the courts of Uganda.

11. Limitation of Liability

Marz Innovations Limited shall not be liable for any indirect, incidental, or consequential damages arising from the Client’s use of the Marz Payment Gateway, including but not limited to loss of funds due to unauthorized access caused by the Client’s negligence. Marz Innovations Limited’s total liability under this Agreement shall not exceed the total fees paid by the Client to Marz Innovations Limited in the twelve (12) months preceding the claim.

12. Amendments

Marz Innovations Limited reserves the right to amend this Agreement at any time to reflect changes in services, payment options, or regulatory requirements (e.g., NPS Act, AML/CFT, Data Protection Act). Clients will be notified of changes via email or through the Marz Innovations Limited platform. Continued use of the Marz Payment Gateway after such changes constitutes acceptance of the revised Agreement.

13. Severability

If any provision of this Agreement is deemed invalid or unenforceable, the remaining provisions shall remain in full force and effect.