Mycomax MAXMONEY User Policy - Mycomax MicroFinance Solutions

Mycomax MAXMONEY User Policy v5

USER POLICY

INTRODUCTION

Mycomax Microfinance Solutions (Pty) Ltd. (“Mycomax”) provides you and the entity which you represent (collectively, “you/your”) with access to its Loan Management Software. In order to create and manage credit agreements, you need to access the Loan Management Software through the MAXMONEY website, or the MAXMONEY MAXAPP^TM

Throughout this policy the MAXMONEY website and MAXMONEY MAXAPP^TMshall collectively be referred to as “MAXMONEY”.

This User Policy outlines the terms and conditions associated with your use of MAXMONEY and the details the Mycomax policy and procedures in respect of privacy and private information.

In order to access MAXMONEY, you will be required to accept and acknowledge the terms and conditions contained in this User Policy. If you do not agree with any of its terms, please do not continue to use MAXMONEY, as your electronic acceptance of this User Policy and continued use of MAXMONEY, will be deemed as an acceptance of the terms and conditions recorded herein.

Consequent to the initial acceptance of this User Policy, you will be deemed to have accepted these terms and conditions, each time you access MAXMONEY.

PART – A: TERMS & CONDITIONS OF USE

MAXMONEY CONTENT

The content of MAXMONEY consists of the Loan Management Software as well as advertisement of further and/or additional services, from time to time.

The content of MAXMONEY may, without prior notice and at the sole discretion of Mycomax, be amended, added to, or removed from in accordance with the requirements of MAXMONEY and of Mycomax.

The content of the website has been structured to be relevant to you and your business. The content is generally, and to the extent possible related to products, services and needs within the jurisdictions in which Mycomax provides its services, and subject to the Laws and Regulations of that jurisdiction.

Mycomax reserves the right to limit, withdraw or deny access to MAXMONEY, at any time.

MAXMONEY provides you with the capability of originating, tracking and keeping record of, your credit agreements and payments received in respect of such credit agreements.

While you are allowed to print the documentation generated by MAXMONEY, for your record-keeping purposes, MAXMONEY may not be reproduced or transmitted for any other purpose.

Use of MAXMONEY is subject to the Disclaimers and Limitation of Liability section below.

By accessing and using MAXMONEY, you consent to the collection and processing of your personal information, as well as the personal information of the consumer with whom you enter into credit agreement. Mycomax will not use such personal information in any manner which inconsistent with the reason for which such personal information was collected. You will also be requested to agree to Mycomax’s Privacy Policy, which contains the details of Mycomax’s internal policies and procedures in respect of privacy.

COPYRIGHT & INTELLECTUAL PROPERTY

Copyright and Intellectual Property contained in, or displayed in, MAXMONEY is and remains the proprietary assets and Confidential Information, as contemplated in the Service Level Agreement entered into, of Mycomax and remains subject to the Confidentiality and Intellectual Property clause in the aforementioned Service Level Agreement.

Any unauthorized copying, reproduction, retransmission, distribution, dissemination, sale, publication, broadcast, circulation or exploitation of such Confidential Information, will be an infringement of Mycomax’s Copyright and Intellectual Property rights.

No use of such Confidential Information is permitted, unless specifically agreed to by Mycomax and reduced to writing between the parties.

THIRD-PARTY LINKS

MAXMONEY may, from time to time and at its sole discretion contain links to the services and/or products of third parties, unaffiliated with MAXMONEY. These links are intended to improve and enhance your experience on MAXMONEY and refer you to products and services generally utilized in the credit industry.

These links and the content of the website to which they lead, are not endorsed, approved or aligned with the opinions held by Mycomax.

Mycomax assumes no responsibility for the accuracy, completeness, security or legitimacy of such the website to which these links lead, whether express or implied.

By utilizing these third party links and accessing the website to which they lead, you assume all risks and responsibilities associated therewith.

This User Policy, and the parallel Privacy Policy of Mycomax does not cover these third party links or the contents of the website to which they lead.

You may not, without the prior, express written consent of Mycomax, create any link or hyperlink text, which leads to MAXMONEY, on a website, document or software application owned or controlled by you.

FRAMING

Framing is the activity of making one website viewable from another website.

No person, business or group, whether directly or indirectly associated with you in whatsoever manner, or not, may frame MAXMONEY or the Mycomax website, or any of the pages of it, in whatsoever manner.

CRAWLERS & SPIDERS

Crawlers and Spiders are automated bots or coding that systematically searches web pages for certain keywords so that information can be retrieved from that website.

No person, business or group, whether directly or indirectly associated with you in whatsoever manner, or not, may utilize crawlers or spiders or any other similar technology to search and/or gain information from MAXMONEY, without the prior, express written consent of Mycomax.

DISCLAIMERS & LIMITATION OF LIABILITY

Mycomax undertakes all reasonable efforts to ensure that the content of MAXMONEY is up to date and relevant, it makes no warrantees or representations in respect of: –

the accuracy;

the completeness; and

reliability

of any data, information and/or content of MAXMONEY.

The information, ideas and opinions contained in MAXMONEY are of a general nature and should not be misconstrued as financial, legal, accounting, tax, investment or any other form of advice and does not replace the need for you to seek and obtain formal advice from a professional, duly qualified in the subject which you require advice on.

Although MAXMONEY has been developed for use in South Africa, Mycomax makes no representations or warrantees that MAXMONEY is appropriate for use within the jurisdiction of South Africa.

Mycomax Disclaims any form of non-infringement, compatibility, security, accuracy of MAXMONEY.

Mycomax does not warrant the website, or any software available for download, free of viruses and other destructive codes.

Mycomax disclaims itself and its directors of any damage, liability, loss and/or expense, whether directly or indirectly attributable to the use of MAXMONEY or the information contained or received therein, suffered by you or any third party of whatsoever nature, including your dependence on such information.

You agree that Mycomax, is indemnified by you for any information transmitted via the internet, which is, by its very nature, susceptible to monitoring and interception and the risk thereof is carried by you.

Mycomax does not warrant the safety and security of any unsolicited Confidential Information or Intellectual Property, as defined in the Service Level Agreement, if such Confidential Information or Intellectual Property has been transmitted via internet. If any Confidential Information needs to be transmitted to Mycomax, please contact us and we will advise on the most appropriate manner in which to securely transmit such information.

Nothing in this Policy, or on MAXMONEY should be construed as an agreement between the Parties for the provision of MAXMONEY or other services and such an agreement shall separately be entered into. This Policy simply contains the terms and conditions applicable to you accessing MAXMONEY.

PART – B: PRIVACY

SCOPE

This Part applies to the Personal Information of yourself as well as the Personal Information collected, used, stored and protected in the course of Mycomax’s business, including its websites and on the MAXMONEY platform.

This Part will also outline the choices available to you regarding our use of your Personal Information or the Personal Information collected through the utilization of MAXMONEY and how to access, update and request deletion of such information.

The use of Personal Information shall be limited to the purpose of providing the Services for which you have engaged Mycomax.

This Part is aimded at meeting International Privacy and Data Protection Standards, including the statutory requirements applicable within South Africa. This policy will be continually developed and maintained in order to ensure consistent compliance with the aforementioned requirements.

PERSONAL INFORMATION

Personal Information is information or data which identifies or relates to specific individuals. In respect of this Part of the User Policy, this information will also relate to your customers (consumers) and includes, amongst others, the following information: –

Name;
Age;
Gender;
Ethnicity;
Identity Number;
Assets & Liabilities;
Income;
Payment Records.

YOUR CONSENT & AGREEMENT

By submission of your details and/or utilization of MAXMONEY, you expressly consent to the use and disclosure of your Personal Information, in the manners which will be outlined in this Part of the User Policy.

If you, or your customer, object to any of the potential uses of your Personal Information, as outlined in this Part, please do not continue the use of MAXMONEY.

SECURITY & CONFIDENTIALITY

MAXMONEY requires, by its very nature and as is required by law, the collection of certain Personal Information and the provision and/or disclosure of such Personal Information to specified third parties.

We understand the value of Personal Information and have therefore taken all reasonable measures to ensure that the Personal Information collected though the use of MAXMONEY is protected from loss, misuse or unauthorized alteration.

Our security systems meet – and in some instances exceed – industry standards and we committed to ensuring the security systems are regulatory updated and maintained to ensure that Personal Information is adequately protected, at all times.

To this end, Mycomax has entered into an agreement with Google LLC for the use and maintenance of its cloud-based solution upon which MAXMONEY is built and maintained. All data collected and processed through utilization of MAXMONEY are securely stored in foreign data centers, and the territorial location of these servers are decided upon at the sole instance of Google LLP, which may move or utilize another secure server at its sole instance and without prior notice.

Further, Mycomax has entered into a Data Processing Amendment Agreement with Google LLC which facilitates compliance with the Protection of Personal Information Act (“POPIA”) and allows Mycomax to define how data is stored, processed and protected. We are confident in, and satisfied with, the additional capabilities provided by Google LLC and the following compliance certificates have been issued to Google LLC for their cloud-based services and the additional security protocols in compliance with the provisions of , inter alia, POPIA: –

ISO/IEC 27018 – Privacy and security controls for public-cloud service providers that process personally identifiable information (PII);

ISO/IEC 27001 – Provides the requirements for an information security management system (ISMS), specifies a set of best practices, and details the security controls that can help manage information risks;

ISO/IEC 27017:2015 – Provides guidelines for information security controls applicable to the provision and use of cloud services;

ISO/IEC 27701 – The first global privacy standard that focuses on the collection and processing of personally identifiable information (PII). This standard was developed to help organizations comply with international privacy frameworks and laws.

We are confident in the measures taken to ensure the safety and security of the Personal Information collected, processed and retained through the use of MAXMONEY and undertake that continued maintenance and development will be undertaken to ensure that these measures remain compliant and are developed to address new risks which may arise.

Internally, Mycomax has taken the following security measures to ensure the privacy and security of Personal Information: –

Only authorized personnel have access to the data collected, processed and retained through the use of MAXMONEY and such personnel are trained and informed of their obligations and responsibilities in respect of safeguarding and protecting the data to which they have access;

No unauthorized personnel have access to the data collected, processed and retained through the use of MAXMONEY and any such unauthorized person is aware of the consequences and actions which may be taken against them for accessing, or attempting to access, such data;

Internal policies and protocols provide for continuous engagement with service providers of Mycomax, to ensure that MAXMONEY is continuously afforded the latest security and privacy updates, whether internally or procured from a service provider, and that all agreements with such service providers are maintained and renewed.

DATA CONTROLLER & DATA SUBJECTS

Mycomax does not, under the Service Level Agreement entered into for the provision of MAXMONEY, collect, process or retain data, of its own accord or without your consent and direction. The role of Mycomax in the relationship between it and you are to make MAXMONEY available and to continuously maintain and develop MAXMONEY for your use and benefit in the conduction of your business. Therefore, without your use of MAXMONEY, no data can be collected. Yet, it is the role of Mycomax to retain the date collected by you at all relevant times.

For the reasons set out above, you are the “Data Controller”. You are the one who collects Personal Information from data subjects and directs Mycomax to retain, protect and utilize such information in the manner required to give effect to the Service Level Agreement.

The consumers who enter into credit agreements with you and provide you with their Personal Information for the purposes of Loan Application and Agreements are the “Data Subjects”.

Data Subjects who seek to access, correct, amend or delete data relating to their Personal Information, should address such a request to the Data Controller (you). The Data Controller must then execute the request, if it is lawful and fair to do so and within a reasonable amount of time.

If you, as the Credit Provider, seek to amend any Personal Information of yourself or of your business which is held by Mycomax and not accessible through MAXMONEY, a request should be directed to Mycomax utilizing the contact details contained in this Policy.

OUR USE OF INFORMATION AND DATA COLLECTED

Mycomax may, as a result of the Service Level Agreement, transfer and disclose the Personal Information collected through the utilization of MAXMONEY, for the purposes of: –

Providing MAXMONEY to you, and complying with instructions received from you;

Verifying your identity, or the identities of other Data Subjects, with whom you conduct business;

Taking credit decisions;

Compliance with Laws, Public Duties, Court Orders and Authorized Investigations;

For the purposes of security and crime prevention;

For Mycomax’s internal use, with the aim of improving the Services, and for the purposes of market analysis in order to improve Mycomax’s offerings or that of its associated companies;

The conduction of market research; and

Providing you with information via email, telephone, or other means in respect of Mycomax’s products and/or services, from time to time.

Despite the use of the data and/or Personal Information utilized as described above, the Personal Information will still be utilized in a manner which compliant with the privacy and data laws of South Africa and is afforded the same level of security as data and Personal Information, not being utilized.

Mycomax may share or use your data with third parties involved in the process of providing the Services to you. These third parties have been carefully vetted and selected before a trusted relationship is established. All third party service providers are contractually and statutorily bound to maintain the confidentiality and security of the data and Personal Information provided to them, and are restricted to only utilizing such data or Personal Information for the specific purpose to which it relates.

OTHER DATA COLLECTED

In addition to the Personal Information which is collected, processed and retained through the use of MAXMONEY, Mycomax is required to collect additional data relating to you, as the credit provider or representative of the credit provider, in order to provide you with the MAXMONEY functionalities. This information includes, but is not limited to: –

All Personal Information which you (and the company) submitted to Mycomax when entering into the Service Level Agreement, or during negotiations for entering into a Service Level Agreement;

The requisite financial information, as submitted to Mycomax, by you;

All other information submitted to Mycomax, by you, as part of the onboarding process of MAXMONEY;

Information relating to your computer, your IP address, your operating system and browser type. This information is strictly used to ensure that you are able to utilize MAXMONEY.

Statistical Data and browsing patterns, which do not identify any individual’s Personal Information including general internet usage through the use of a cookie file which is stored in your computer’s hard drive. Cookies enable Mycomax to improve its offerings to you, estimate audience sizes and usage patterns, store information relating to your preferences and to recognize you when you return to our website. Please note that your browser settings can be set to refuse cookies, but that this will detract from certain advantages gained when Mycomax is able to access the aforementioned data.

The data and Personal Information noted above are also retained and protected in accordance with the protocols and measures outlined in paragraphs 11 and 13 of this Policy.

Please note that third parties advertise on our websites and that there are links to such third parties’ websites. However, we do not have access to, or control over their websites and therefore cannot take responsibility for the information or data collected from their websites.

PERSONAL IDENTIFICATION NUMBER

When utilizing MAXMONEY, you are provided with an access number, username, password and personal identification number (PIN). It is your responsibility to maintain the confidentiality of these particulars and we cannot be held liable for breaches which occur as a result of sharing and/or disclosing these particulars.

TRANSFERRING OF DATA TO FOREIGN TERRITORIES

Mycomax contracts or receives services from foreign-based entities, from time to time. As a result thereof, data or Personal Information collected through the use of MAXMONEY, or from you, may be transferred outside South Africa.

When data or Personal Information is transferred outside South Africa, we will ensure that the date and information is held securely to standards at least as good as those required within South Africa, and that such data and information is only utilized for the purposes set out in this Policy.

The Personal Information stored by Mycomax may be retained anywhere in the world, including, but not limited to, Europe, Cloud, our servers and the servers of our affiliates and service providers around the world.

DATA RETENTION PERIODS

Mycomax will retain the Personal Information and data collected by it for as long as your account is active, or as needed in order to provide services to you and in accordance with any legislative requirements, as may be prescribed from time to time.

Personal Information and data will be retained, regardless of the existence o a relationship between you and Mycomax, for as long as necessary to comply with its legal obligations, to resolve disputes, for the enforcement of its rights, or as may be directed by a competent authority.

DATA BREACH

In the event that a data breach occurs, or there are reasonable grounds to believe that a data breach has occurred and that the Personal Information of you or of a data subject as been accessed, acquired, compromised or leaked, Mycomax will:-

As soon as practicable, take the appropriate steps to limit the breach and restore the integrity and security of the system;

As soon as reasonable, report to the affected Data Controller(s) the relevant facts and extent of the breach or compromission;

If applicable, report on the identity of the person(s), group(s) or organization(s) suspect of, or known to have, caused the breach or compromission and/or accessed the Personal Information, unless Mycomax has received an order or direction from a competent authority not to do so;

Notify you immediately, if it is necessary for you to stop the utilization of MAXMONEY and the extent to which you are required to stop using MAXMONEY, in order to restore the integrity of it and avoid furthering the scope of the breach or compromission.

RIGHT TO ACCESS & AMEND

You have the right to access the Personal Information that is retained, relating to you utilizing MAXMONEY. To obtain a copy of your Personal Information, as held by Mycomax, please direct an email to the Information Officer, using the contact details listed in Part – C of this Policy. Should there be any amendments required to the data or Personal Information, a request may be directed to the Information Officer, in the same manner.

Similarly, the Data Subjects whose Personal Information is collected through the utilization of MAXMONEY, have the same right contemplated in the preceding paragraph, as it relates to their Personal Information. However, as the Data Controller, their request must be submitted to you, whereafter you will direct an instruction to Mycomax’s Information Officer, using the contact details listed in Part – C of this Policy. Should there be any amendments required to the data or Personal Information, a request may be made in the same manner.

Although Mycomax takes care to ensure that all data output is true and correct, the validity of data and of reports generated using MAXMONEY, are both reliant on the accuracy of the information which you input. Therefore, Mycomax cannot be held responsible for inaccuracies of data captured by you.

ELECTRONIC COMMUNICATIONS AND TRANSACTIONS ACT

Mycomax subscribes to the principles outlined in Section 51 of the Electronic Communications and Transactions Act, 2002 (“ECTA”), which governs your right to having your Personal Information kept private.

In accordance with Section 51 of ECTA, we will only collect, collate, process and store (“use”) your Personal Information, with your permission, as set out in this Policy, unless we are legally obligated to do otherwise. The information and data which we use in terms of this Policy shall only be used for the lawful purpose in terms of which it is required.

This Policy discloses the specific purpose for which Personal Information of you and of your Data Subjects, as collected through the use of MAXMONEY, is requested, used and stored.

No Personal Information will be utilized for any reason other than the reasons outlined in this Policy, without your express consent to do so, unless Mycomax is ordered or directed to do so, by a competent authority.

Personal Information retained by Mycomax will be disclosed, without your consent if: –

We are required by law to do so;

Disclosure is in public interest; and

Such disclosure will be deemed to have carried your express or implied consent.

You are herewith notified that you are entitled to, and understand that you may, option out of any mailing list maintained by Mycomax for commercial and marketing communications.

MARKETING

By acceptance of this Policy but subject to applicable legislation or laws, you consent to be contacted for marketing purposes and agree to be included in marketing efforts by Mycomax. This includes telemarketing, mass distribution of mail, email and sms messages, and you extend a standing invitation to representatives of Mycomax to visit your premises for marketing and service purposes. You may option out of any such marketing campaigns or efforts by giving any written notice to Mycomax.

In respect of emails sent by Mycomax, you may unsubscribe from such mailing lists by using the “unsubscribe” link at the bottom of such emails. This will not affect your transaction and administration related emails in respect of MAXMONEY.

If you wish not to receive marketing calls, please advise the representative calling you and you will be added to our “Do Not Call” list.

Mycomax maintains a “Do Not Call” and “Do Not Mail” list, as legislatively prescribed.

PRIVACY EXCLUSIONS

As detailed in this Policy, Mycomax has taken great care in ensuring the Personal Information and data about you and of your customers are protected and confidential. However, Mycomax will not accept any liability of Personal Information is breached or compromised if: –

the breach or compromission occurred in relation to data stored directly on your hard drive;

the breach or compromission occurred as a result of your failure to keep your username, passwords and PINs private and confidential or distributed the aforementioned information willingly and/or allowed such information to be distributed;

You committed, or allowed to commit without intervention, the use your usernames, passwords and PINs for the purposes of breaching or compromising data;

You engaged in any form of illegal activity, the consequences of which gave rise, directly or indirectly, to a breach or compromission of data;

The data was never in possession of Mycomax;

PART – C: THIS POLICY

AMENDMENTS

Mycomax reserves the right, at its sole discretion, to update, modify, amend or replace this Policy, whether in part or in whole, from time to time as may be required by it, or by law, from time to time.

You agree to review this Policy each time to you access MAXMONEY or the Mycomax websites.

Unless the contrary is clearly indicated in the updated User Policy, such updated policy shall replace and supersede all previous policies.

The most recent version of Mycomax and MAXMONEY’s User Policy, may be accessed, at any time, by following this link:

https://online.maxmoney.co.za/MaxMoney/terms_and_conditions/0/ .

JURISDICTION

This User Policy will be governed, regulated and interpretated in accordance with the laws of South Africa or the laws applicable to a jurisdiction in which you operate. Both you and Mycomax submit and agree to the jurisdiction of a South African court should any dispute arise between the parties.

CONTACT DETAILS

The contact details of Mycomax and of its Information Officer for all matters relating to this User Policy, shall be as follows:

THE INFORMATION OFFICER

MYCOMAX MICROFINANCE SOLUTIONS (PTY) LTD

2^nd Floor, Argo Building, 184 Erasmusstreet, Meyerspark, Pretoria.

P.O. Box 544, La Montagne, 0184

maxmoney@mycomax.com

(+27) 12 110 4300

WARRANTEES

By agreeing to this User Policy and continuing to access MAXMONEY, you warrant that you are legally entitled to do so, on behalf of the entity which you represent;

By obtaining any services and products, or entering into any agreement with Mycomax which results in you obtaining access to MAXMONEY, you warrant that you are duly authorized to enter into such agreements and obtain access on behalf of the entity which you represent;

You warrant that you will not use MAXMONEY, or any of its affiliated services, or any information to which you have access, or which is sent to you by Mycomax, for any purpose which is unlawful in South Africa, in international law, or prohibited in accordance with the terms and conditions recorded in this Policy.

You indemnify Mycomax from any damage or liability which may arise, whether directly or indirectly, as a result of your breach or any of the terms and conditions recorded in this Policy or the warrantees made in section.

ACCEPTANCE

Your acceptance of these terms and conditions is recorded by clicking “I Agree” and the details thereof are as follows:

_______________________[TIMESTAMP]

DATE OF LAST UPDATE OR AMENDMENT TO THIS POLICY: 23/11/2022