This Terms of Service is a legal agreement between you and Hakuna Matata Wallet that governs your access to and use of the Hakuna Matata Wallet service as a user. Please review this entire Terms of Service before you decide whether to accept it and continue with the registration process.

Definitions

The following defined terms appear in this Terms of Service.

"You", “you” or "user": A Customer that applies to, or registers to use, or uses, the Service to make Payment Transactions.

Customer: A person that registers with the Service as a user.

User: A Customer that uses the Service to process Payment Transactions.

Payment Instrument: The mobile payment option that is registered by a Customer with the Service, bank transfer service, credit card or debit card to facilitate the processing of Payment Transactions.

Payment Transaction: The processing of a payment through the Service that results in the debiting or charging of the user Amount to dashboard.

Recharge Amount: The amount of a Payment Transaction to fund account, and any related fees, taxes as applicable.

Service: The Hakuna Matata Wallet service, described in this Terms of Service, that facilitates the processing of Payment Transactions on behalf of a user.

Hakuna Matata Wallet is a payment services provider and acts as such by creating, hosting, maintaining and providing our Hakuna Matata Wallet services to you via the internet. Our services allow you to send payments to anyone with a Hakuna Matata Wallet account, and, where available, to receive payments.

“We”, or “us”: Hakuna Matata Wallet, HM Wallet.

Requirements For Registration

In order to use the Service, you hereby consent to provide and agree to complete all required information elements on the Service registration web pages. You must register a valid mobile payment option as a Payment Instrument or use bank transfer or a Credit Card to make Payment Transactions and pay fees and other obligations arising from your use of the Service. You undertake and agree to provide current, complete and accurate information and maintain it as current and accurate. We may require you to provide additional information as a condition of continued use of the Service, or to assist in determining whether to permit you to continue to use the Service.

We, in our sole and absolute discretion, may refuse to approve or may terminate existing registrations with or without cause or notice, other than any notice required by any applicable law, and not waived herein.

By agreeing to this Terms of Service for Buyers, you represent that you are:

18 years old or older; and capable of entering into a legally binding agreement.

Payment Transaction Processing

The Service facilitates the processing of Payment Transactions to complete a payment for a purchase between users. The Service will store information from users, such as their Payment Instruments, and will process Payment Transactions on behalf of users. We may delay payment processing of suspicious transactions or transactions which may involve fraud, misconduct, or violate applicable law, this Terms of Service for Buyers, or other applicable Hakuna Matata Wallet policies, as determined in Hakuna Matata Wallet sole and absolute discretion. users authorize the charge or debit to user’s Payment Instrument as necessary to complete processing of a Payment Transaction. user also authorizes the crediting to user’s Hakuna Matata Wallet Credit in connection with reversals, refunds, or adjustments through the Service.

You acknowledge and agree that payments to requests from other users are transactions between you and the other user and not with Hakuna Matata Wallet.

Holding a Hakuna Matata Wallet Balance

Any Hakuna Matata Wallet balance you hold represents an unsecured claim against Hakuna Matata Wallet. User funds are held separate from Hakuna Matata Wallet corporate funds, and Hakuna Matata Wallet will neither use these funds for its operating expenses or any other corporate purposes nor will it voluntarily make these funds available to its creditors in the event of bankruptcy. You will not receive interest or other earnings on the amounts in your balance.

Adding or Withdrawing Funds

You can add funds to your Hakuna Matata Wallet account by bank transfer, mobile payment or card payment. The amount transferred will be held as a balance in your Hakuna Matata Wallet account.

Withdrawing funds from your balance

If you have a HM Wallet balance, log into your HM Wallet account to see which of these withdrawal options are available in your country/region:

• transferring it to a bank account linked to your HM Wallet account

• transferring it to a mobile wallet account linked to your HM Wallet account

Depending on the country/region in which your account is registered, you may be able to withdraw your funds through a third party service provider. Please see terms of such third party for information regarding currency conversions.

To protect us and our users from loss, we may delay a withdrawal in certain situations, including if we need to confirm that you have authorized the withdrawal or if other payments to your HM Wallet account have been subject to a reversal (for example, as a result of a chargeback, bank reversal or dispute by a user). If we place a limitation on your HM Wallet account, a payment is subject to a hold, or your account or an associated account has a negative balance in any currency while a withdrawal from your HM Wallet account is pending, you will have to reinitiate the withdrawal once the limitation or hold has been lifted, or the negative balance is fully paid off.

We charge a fee to make a transfer to your bank account or mobile wallet.

Managing Your Balance in Multiple Currencies

Holding multiple currencies

Your HM Wallet balance may be held in any of the currencies supported by HM Wallet, and you may hold a balance in more than one of these currencies at the same time.

If you hold a balance in your HM Wallet account:

• We may allow you to convert the balance into another currency. If you convert the balance in your account, HM Wallet transaction exchange rate (including our currency conversion fee) will be used. We may, at our discretion, impose limits on the amount of your balance that you can convert or the number of conversions you can perform.

• You may only withdraw the balance in the opening currency of your account or such other currency that HM Wallet supports for withdrawal in your registered country/region. In order to withdraw the balance in your account which is held in another currency, you will have to convert the currency to the opening currency of your account, or it will be converted for you at the time of your withdrawal. HM Wallet transaction exchange rate, including our currency conversion fee, will be used.

To receive funds in a currency that your account is not currently configured to accept, it may be necessary to create a balance in your HM Wallet account in that currency or convert the balance into another currency. Certain currencies can only be received by converting the balance into another currency that HM Wallet allows you to hold. If the balance is converted, HM Wallet transaction exchange rate (including our currency conversion fee) will be used.

You are responsible for all risks associated with maintaining multiple currencies in your HM Wallet account. You may not manage or convert currencies for speculative trading purposes, conversion arbitrage, conversion options, or any other activity that HM Wallet determines is primarily for the purpose of gaining or making money based on currency conversion rates. HM Wallet may hold, cancel, or reverse any transaction we determine to violate this policy.

Sending payments to or Receiving payments Sending payments

In some countries/regions, you can send funds to a friend or family member from your HM Wallet account using the send payments feature in your HM Wallet account (sometimes called personal payments or peer-to-peer/P2P payments).

You can send funds to a friend or family member even if they don't have a HM Wallet account at the time you send them funds, using their email address or mobile number, in any currency that HM Wallet supports. If the person to whom you are sending funds does not have a HM Wallet account, they can claim it by opening a HM Wallet account. If they don't claim it, it will be refunded to you.

When you send funds to a friend or family member, one of three things may happen: they may accept, decline or fail to claim the funds. If they either decline to accept the funds or don't claim them within 30 days of the date they are sent, the funds (including any fees you were charged) will be refunded.

Receiving payments

If a friend or family member sends funds to you, the funds will appear in your HM Wallet balance. To receive funds in a currency your account is not currently configured to accept, it may be necessary to create a balance in that currency or convert the funds into another currency. Certain currencies can only be received by converting the balance into another currency that HM Wallet allows you to hold. If the balance is converted, HM Wallet transaction exchange rate (including our currency conversion fee) will be used.

Limitations On The Use Of Service

We reserve the right to change, suspend or discontinue any aspect of the Service at any time, including hours of operation or availability of the Service or any Service feature, without notice and without liability. We also reserve the right to impose limits on certain Service features or restrict access to parts or all of the Service without notice and without liability.

We do not warrant that the functions contained in the Service will be uninterrupted or error free, and we shall not be responsible for any service interruptions (including, but not limited to, power outages, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of Payment Transactions or the Service).

We may limit or suspend your use of the Service at any time, in our sole and absolute discretion. If we suspend your use of the Service, we will attempt to notify you by electronic mail and/or SMS.

Username And Password Information

You are responsible for:

1) maintaining the confidentiality of your username and password,

2) any and all transactions by persons that you give access to or that otherwise use such username or password.

3) any and all consequences of use or misuse of your username and password. You agree to notify us immediately of any unauthorized use of your username or password or any other breach of security regarding the Service of which you have knowledge.

Privacy

You understand and agree that personal information provided to us in connection with the Service is subject to the Service’s Privacy Policy

Disputes

Hakuna Matata Wallet will provide various tools to assist Customers in communicating with each other to resolve a dispute that may arise between users with respect to their transaction. If Customers are unable to resolve a dispute, we can mediate disputes between users if either party requests assistance through our support contacts or visiting our office.

Hakuna Matata Wallet is Not A Banking Institution

Hakuna Matata Wallet processes Payment Transactions on behalf of users. Hakuna Matata Wallet is not a bank or other chartered depository institution.

Termination Of Service

We may, in our sole and absolute discretion without liability to you or any third party, terminate your use of the Service for any reason, including without limitation inactivity or violation of this Terms of Service or other policies we may establish from time to time.

Upon termination of your use of the Service, you remain liable for all Payment Transactions and any other obligations you have incurred. Upon termination, we have the right to prohibit your access to the Service, including without limitation by deactivating your username and password, and to refuse future access to the Service by you.

Limitations Of Liability; Force Majeure

Hakuna Matata Wallet shall not be liable to the user in the event of any disruption of the Service or the Payment Platform or any part thereof resulting from Force Majeure and Hakuna Matata Wallet may suspend the Service or part thereof in such an event. Force Majeure for purposes of this Terms of Service means any situation or event that makes it impossible for Hakuna Matata Wallet to perform its obligations and includes but is not limited to any act of God such as lighting, floods, earthquakes, prohibitive decisions made by the government or local authority or civil war conflict and industrial strikes as well as any global or partial dysfunction of the Service caused by disruption or suspension of the telecommunication facilities.

Jurisdiction; Governing Law

This Terms of Service shall be governed in all aspects in accordance with the Laws of Kenya and a court of complete jurisdiction in Kenya shall determine every claim or dispute arising out of or in connection with this Terms of Service.

Modification Of Terms Of Service For users

We have the right, in our sole and absolute discretion, to change, modify, or amend any portion of this Terms of Service at any time by posting notification on Hakuna Matata Wallet Web Site or otherwise communicating the notification to you. The changes will become effective, and shall be deemed accepted by you, after the initial posting and shall apply on a going-forward basis with respect to Payment Transactions initiated after the posting date. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Service.