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PAYPUMP LIMITED

E-WALLET TERMS OF USE

(Version effective from 14 December 2022)


IMPORTANT NOTICE

 

(1)     Paypump Limited (we, us, our) is a privately owned payments company incorporated in the Republic of Mauritius and regulated as a Payment Intermediary Services license-holder under the authority of the Financial Services Commission of Mauritius under license number C116015487.

(2)     We offer a service to customers where such customers (you) may apply for and carry out certain transactions using an electronic wallet account registered with us (‘Paypump e-wallet’). 

(3)     When registering for Paypump e-wallet with us, you agree to be bound by these terms and conditions (Terms). These Terms apply to registration as well as to the use of your Paypump e-wallet account and all transactions you carry out through the account.  

(4)     Our Terms contain specific provisions that limit our liability, allocate risk or liability to you, or assume you know certain facts. These provisions appear in bold and capital letters. You must pay special attention to these provisions, as they limit your ability to recover losses that you may suffer in connection with your Paypump e-wallet account.

(5)     We may change these Terms from time to time. Such changes will take effect as soon as they have been published on our website at www.paypump.net/wallet-terms. You should receive notices about any changes to these Terms, but it is your responsibility to review the Terms before using your Paypump e-wallet account, and to take note of any changes. Your continued use of your Paypump e-wallet account after we have made changes to these Terms will mean that you have agreed to such changes.  

 

PART A: GENERAL INFORMATION


  1. Our contact details
  • Paypump Limited is a company incorporated in Mauritius with registration number C098346 C1/GBL. Our head office is located at Nautica Commercial Centre, Royal Road, Black River, Mauritius.
  • If you need any help with your Paypump e-wallet account, please contact our Helpline at +230 650 3238 or email us at hello@paypump.net. You can also contact us through our Paypump e‑wallet web portal at wallet.paypump.net (Web Portal).

 

  1. Your money

All monies deposited with us will be paid into your Paypump e-wallet account held in a bank account (‘bank’) with a bank regulated by the Bank of Mauritius. Paypump Limited is under the regulatory supervision of the Financial Services Commission of Mauritius.


  1. Transactions you can carry out using your Paypump e-wallet account

You can use your Paypump e-wallet account for the following types of transactions:

  • Cash-in, where you or anyone else transfers money into your Paypump e-wallet account;
  • Transfer, where you send money from your Paypump e-wallet account to another Paypump e-wallet account;
  • Pay-out, where you pay money to a Paypump approved merchant; or
  • Withdrawal, where you withdraw money from your Paypump e-wallet account; and
  • Balance enquiry, where you check the balance on your Paypump e-wallet account.

 

 

PART B: REGISTRATION

 

  1. Opening your account

You can open a Paypump e-wallet account through our web portal. We shall require proof of your age, identity and residence, your email address, mobile number and certain other information about yourself as part of the registration process.

You must meet all the criteria we have set for opening a Paypump e-wallet account. These include criteria needed to comply with applicable law. We may refuse your application if we believe you do not meet these criteria or if you give us false or incomplete information.

If we approve your application, we will send a notice to your chosen email address or mobile phone to confirm your registration. We may also make available a mobile application (Mobile App) that you can download onto your mobile phone. The Mobile App will make it easier for you to use your Paypump e‑wallet account.

Different versions of the Mobile App are available depending on which type of mobile device you use. It is your responsibility to ensure that the Mobile App installed and used by you is the correct version for your particular mobile device. YOU UNDERSTAND THAT YOUR MOBILE SERVICE PROVIDER MAY CHARGE YOU FOR YOUR ACCESS AND USE OF YOUR PAYPUMP E-WALLET ACCOUNT VIA THE MOBILE APP AND THAT YOU ARE RESPONSIBLE TO PAY SUCH CHARGES.


  1. Personal Information and privacy

Personal Information consists of the information that you disclose to us during your relationship with us that is personal to you and protected by law. It includes information from your transactions and instructions, details and analysis of your application for and use of a Paypump e-wallet account and other information we get through providing you with a Paypump e-wallet account.


You agree that we may collect your Personal Information from you and where lawful and reasonable, from public sources for credit, fraud and compliance purposes, as well as for the purposes set out below.


If you give us Personal Information about or on behalf of another person, you confirm that you are authorised to:

  • give us the Personal Information;
  • consent on their behalf to the Processing of their Personal Information, specifically any cross-border transfer of Personal Information into and outside the country/ies where the Paypump e-wallet service is provided; and
  • receive any privacy notices on their behalf.

You agree that we (and our bank) may Process your Personal Information:

  • to register and maintain your Paypump e-wallet account, verify and update your details, and verify that you qualify to have a Paypump e-wallet account;
  • to enable, process and record the transactions on your Paypump e-wallet account as described in these Terms;
  • to get information that does not identify you, but that tells us more about what products you buy and about your transaction history and related information, and you agree that we may share this information with our business partners;
  • in countries outside the country/ies where the Paypump e-wallet service is provided. These countries may not have the same data protection laws as the country/ies where the Paypump e-wallet service is provided. Where possible, we will ask the receiving party to agree to our privacy policies with regards to the Processing of your Personal Information;
  • to prevent fraud and money laundering and carry out compliance and regulatory checks;
  • to comply with any legal or regulatory requirements;
  • to meet our or our bank’s obligations to any regulatory authority;
  • by sharing your Personal Information with third-party service providers to us or our bank, locally and outside the country/ies where the Paypump e-wallet service is provided. We ask people who provide services to us to protect your Personal Information on at least the same basis as we do if they need access to such information to carry out their services;
  • to inform you about products, services and benefits that we offer and give you the opportunity to make use of them, as far as we are lawfully permitted to do so; and
  • to deliver and improve our products and services to you.

For purposes of these Terms, Process and its derivatives means any operation or activity, automated or not, concerning Personal Information, including: alteration, blocking, collation, collection, consultation, degradation, destruction, dissemination by means of transmission, distribution or making available in any other form, erasure, linking, merging, organisation, receipt, recording, retrieval, storage, updating, modification, or the use of information.


You are solely responsible for keeping your profile information on your Paypump e-wallet account complete, accurate and up to date. Please update your profile immediately if anything changes. You can do this by going to the Web Portal or through the use of the Mobile App (where applicable).


YOU WARRANT THAT ALL INFORMATION YOU GIVE US IS TRUE, ACCURATE, COMPLETE AND UP TO DATE AND THAT NEITHER WE NOR OUR BANK WILL BE LIABLE FOR LOSSES DUE TO THE FACT THAT ANY SUCH INFORMATION IS FALSE, INCORRECT, INCOMPLETE OR NOT UP TO DATE.

 

 

 

PART C: USING YOUR PAYPUMP E-WALLET ACCOUNT

 

  1. Access and authorisation

You can access your Paypump e-wallet account via the Web Portal or the Mobile App where you will be required to follow prompts to choose the transaction you want to carry out. Your e-wallet may permit you to hold and carry out such transactions in different currency types and you must make sure that you select the correct one.

Each time you access your Paypump e-wallet account you will have to enter your secret password. It is your responsibility to make sure that you keep your password secret and that you prevent the unauthorised use of such password. If your password is compromised, or if you become aware of any unauthorised activity on your Paypump e-wallet account, you must notify us immediately. YOU ALONE ARE RESPONSIBLE FOR ANY UNAUTHORISED USE OF YOUR PASSWORD AND FOR ALL TRANSACTIONS CARRIED OUT USING YOUR PAYPUMP E-WALLET ACCOUNT.


We may suspend (stop) transactions on your Paypump e-wallet account or your access to such account at any time. We may also close your account. We will do so if:

  • required by the law or a regulatory authority;
  • we believe or suspect you are using your Paypump e-wallet account wrongly or for unlawful purposes (illegally);
  • we find or suspect that you have breached these Terms; or
  • we find or suspect unauthorised use, abuse, terrorist financing, fraud or money laundering.
  • Your account will be suspended under these circumstances until we are satisfied that the problem has been resolved.


  1. Carrying out transactions

 

The rules below will apply to all transactions you carry out your Paypump e-wallet account. You can only access and use your Paypump e-wallet account through the Web Portal and the Mobile App. You may not use your Paypump e-wallet account for any purpose or in any manner except as we describe in these Terms.

  • Cash-in – You may transfer money into your Paypump e-wallet account using any of the payment channels approved by us. You will be responsible for the costs of using such payment channels. After we have received and allocated the money to your Paypump e-wallet account, it will show as an available cash balance that you can use in line with these Terms.
  • Transfer – You may send money from your Paypump e-wallet account to another Paypump e-wallet account. You will need to give us the Paypump e-wallet account number of the person to whom you are sending the money. It is your responsibility to make sure that you give us the correct account number.
  • Pay-out – You may pay money to any Paypump approved merchant from your Paypump e-wallet account. A list of merchants which have been enabled to receive payment from Paypump e-wallet accounts will be presented to you when you elect to make a pay-out.
  • Withdrawal – You may withdraw and transfer money from your Paypump e-wallet account to your chosen bank account. You will be responsible for the costs of such transfer which may be deducted from the amount being transferred. Once you have withdrawn the money, the money will be deducted from your Paypump e-wallet account balance.
  • Balance enquiries – You may check the balance on your Paypump e-wallet account and get mini-statements at any time. You can do this via the Web Portal or the Mobile App.

YOU ALONE ARE RESPONSIBLE FOR ANY PIN OR AUTHORISATION CODE WE HAVE GIVEN TO YOU.


  1. Limitations

We may place limits on what the balance of your Paypump e-wallet account must be, as well as on particular transaction types. We will notify you of these limits as and when they are applied.

We do not give any credit, so you cannot authorise any transactions that will result in a negative cash balance on your Paypump e-wallet account. If you try to carry out a transaction that will result in a negative cash balance, it will be declined. 


  1. Fees and interest

We will set out our fees and any changes to them on the Web Portal. We will give notice of any changes to our fees. WE DO NOT REFUND FEES PAID TO US, EVEN IF WE REVERSE A TRANSACTION.

 

You will be responsible for all costs to transfer funds to and from your Paypump e-wallet. Transactions that involve currency conversion will incur added conversion costs which may be quoted to you in advance.

You will not receive interest on the positive cash balance in your Paypump e‑wallet account.


  1. Transaction reversals

Transactions you have carried out using your Paypump e-wallet account are generally not reversible, but you may be able to cancel a transaction if the funds have not yet been transferred.


  1. Availability

You acknowledge that your Paypump e-wallet account may at times not be available for various reasons and that we have the discretion to suspend the Paypump e-wallet service from time to time including for systems maintenance. We may also from time to time alter, add or deactivate merchants, payment channels and/or other services offered via the Paypump e-wallet service.

Abuse

You may not use your Paypump e-wallet account in any manner that is abusive, unlawful, fraudulent or contrary to these Terms. You agree that you will comply with our reasonable instructions and the standard usage processes and policies that we let you know about from time to time (including as set out in these Terms) when you carry out any transaction using your Paypump e-wallet account. If we are notified, or have reason to believe, that you are abusing your account or that you are using it unlawfully, fraudulently or contrary to these Terms, we may suspend (stop) or end access to your account until we have fully investigated the matter and reached a determination. You agree to cooperate with us in any such investigation. This includes cooperating with any law enforcement authorities that may be involved.


  1. Closure

Your Paypump e-wallet account may be closed:

  • by you, via the Web Portal or the App. If there is any money in your Paypump e-wallet account when you close it, you may transfer such money into your chosen bank account; or
  • by us:
  • to comply with any legal or regulatory requirement;
  • if you contravene these Terms;
  • if you do not carry out any transactions for a period of 3 months;
  • if you no longer meet the criteria for the Paypump e-wallet service for any reason; or
  • if we end our Paypump e-wallet service.

If we close your Paypump e-wallet account and the law allows us, you have the right to receive payment of all the money in your Paypump e-wallet account from us. We will let you know if we close your account and explain what you have to do to get such payment.


  1. DISCLAIMER

 

YOU USE YOUR PAYPUMP E-WALLET ACCOUNT AT YOUR OWN RISK. WE DO NOT GIVE ANY WARRANTIES ABOUT THE PAYPUMP E-WALLET AND WE DO NOT GUARANTEE THAT YOUR PAYPUMP E-WALLET ACCOUNT WILL ALWAYS BE AVAILABLE FOR YOU TO USE OR THAT ALL TRANSACTIONS WILL BE CORRECTLY PROCESSED.

 

UNDER NO CIRCUMSTANCES WILL WE OR OUR BANK OR OUR PERSONNEL OR SUBCONTRACTORS BE RESPONSIBLE FOR ANY KIND OF CLAIM, LOSS OR DAMAGE THAT ARISE FROM THE USE OF YOUR PAYPUMP E-WALLET ACCOUNT (WHETHER IN CONTRACT, TORT OR STATUTE (INCLUDING FOR NEGLIGENCE)) AND YOU AGREE TO PAY FOR ANY SUCH CLAIM, LOSS AND/OR DAMAGE, EXCEPT TO THE EXTENT PROHIBITED BY LAW.

 

  1. General
  • The laws of the Mauritius apply to these Terms and to the relationship between you and us as far as these Terms and this relationship have to do with the use of Paypump e-wallet or anything that may result from it.
  • These Terms will be incorporated into and regulate all transactions which you make using your Paypump e-wallet account and will become binding upon you in respect of each such transaction.
  • Any changes made by us to these Terms will not mean that we cancel the agreement between you and us.
  • Each of the clauses of these Terms stands on its own and if any of these clauses are found to be invalid, illegal or unenforceable, this will not affect the validity, legality and enforceability of the rest of the clauses.
  • You may not vary any of these Terms.
  • You give us permission to subcontract, delegate, cede, assign or otherwise transfer any of our rights or obligations under these Terms to any third party. You also agree that we do not have to let you know if we do so.
  • No relaxation or indulgence that we give you will prejudice (harm) our rights under these Terms in any way.