Important notice – Sticitt (“Sticitt”), acting under a KYC reliance agreement with MPay Digital Pty Ltd (“MPay” / “MPay digital”), will perform the Know Your Customer (“KYC”) verification process on behalf of MPay digital. Customers will be onboarded onto MPay digital’s platform under MPay’s Terms and Conditions below, with KYC procedures carried out by Sticitt in accordance with regulatory requirements. By accepting these Terms you give full consent to Sticitt to share some or all of your personal information with MPay to enable the services referenced under these Terms and Conditions. Under no circumstance will Sticitt or MPay share any of your personal information with any other third parties other than as may be required by law.

Important: please note that certain clauses are printed in bold to draw your attention thereto.

1. Terms and Conditions – MPay digital

These terms and conditions (“terms”) govern your access to and use of Mpay’s digital asset wallet application. By accessing or using MPay digital, you agree to be bound by these terms. if you do not agree to these terms, please do not use MPay digital. Mpay is currently operating under the applicable FSCA exemption provisions while its Financial Services Provider (FSP) license application is pending approval. The company is therefore authorised to continue trading in the ordinary course of business within the permitted regulatory timelines.

2. Acceptance of Terms

   1. By accessing or using MPay digital, you acknowledge that you have read, understood, and agree to be bound by these terms.

   2. We reserve the right to modify these terms at any time without prior notice, provided that such modification is not unreasonably prejudicial to you. any changes to these terms will be effective immediately upon publication thereof..  should any modification of these terms warrant the consideration of the revised terms by you, as determined by us in our reasonable discretion, we shall bring the amended terms and conditions to your notice in such manner as we may, in our reasonable discretion determine. in all circumstances, your continued use of MPay digital after the publication of such changes constitutes your acceptance thereof.

3. Eligibility

   1. You must be at least 18 years old and a resident of South Africa to use mpay digital.

   2. By using MPay digital, you represent and warrant that you meet the eligibility requirements set forth in these terms.

4. Registration, Account Security, and KYC Process

   1. To use certain features of MPay digital, you may be required to create a MPay digital account and you agree to provide accurate and complete information.

   2. You are further required to maintain the accuracy of your account details by updating your account information as required from time to time.

   3. You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.

   4. You agree to immediately notify MPay digital of any unauthorised use of your account or any other breach of security.

   5. KYC Reliance Agreement: Sticitt (“Sticitt”), acting under a KYC reliance agreement with MPay Digital, will perform the Know Your Customer (“KYC”) verification process on behalf of MPay Digital. Customers will be onboarded onto MPay Digital’s platform under MPay Digital’s Terms and Conditions, with KYC procedures carried out by Sticitt in accordance with regulatory requirements.

   6. Transition of Customer Relationship: Once Sticitt obtains its own FSCA Category 1 license, the primary customer relationship will transfer from MPay Digital to Sticitt. Customers will be duly notified of this transition, and their continued use of the services will be subject to Sticitt’s Terms and Conditions at that time.

5. Digital Asset Transactions

   1. MPay digital allows you to store, buy, and spend digital assets, including cryptocurrencies, subject to applicable laws and regulations.

   2. You acknowledge and accept that the value of digital assets is subject to market fluctuations and that MPay digital does not guarantee the value or performance of any digital assets unless MPay digital explicitly states otherwise, for instance, “stable coins”.

   3. MPay digital reserves the right to suspend, restrict, or terminate your access to MPay digital or any digital assets at any time for any reason whatsoever, including but not limited to legal or regulatory requirements. In the event that the asset holds a financial value, and your account is terminated, the value, less MPay digital’s fees, shall be returned to a registered bank account in your name, unless ordered otherwise by a lawful request.

   4. Rewards programme

      1. MPay digital may, from time to time, issue rewards to eligible users in the form of a proprietary reward token (“Reward Token”). These reward tokens may be earned based on qualifying actions, transactions, or promotions as determined at MPay digital’s sole discretion.

      2. Reward Tokens may be: Swapped for eZar (a digital asset referencing the South African rand) at a rate determined by MPay digital and subject to applicable terms and conditions; or spent at participating reward partners who accept the reward token as a form of payment.

      3. Reward Tokens are non-transferable, have no inherent fiat value, and may only be redeemed or utilised within the MPay digital ecosystem or through authorised channels.

      4. MPay digital reserves the right to amend, suspend, or terminate the rewards programme or any aspect thereof, including the redemption options, rate of exchange, or eligibility criteria, at any time and without prior notice

      5. By accepting these Terms and Conditions, you mandate MPay digital to automatically swap any reward tokens for eZAR

6. Compliance with Laws and Regulations

   1. The parties agree to comply with all applicable laws, regulations and directives governing digital assets and related products and services, including but not limited to the Financial Advisory and Intermediary Services Act (“FAIS”), the Financial Intelligence Centre Act (“fica”) and the Crypto Asset Service Provider (“CASP”) requirements set forth by the financial sector conduct authority (“FSCA”).

   2. MPay digital agrees to comply with Anti-Money Laundering (“AML”), Counter-Terrorist Financing (“CTF”), and Customer Due Diligence (“CDD”) obligations under fica. and as such, you acknowledge that MPay digital may be required to collect and verify certain information about you, including your identity and source of funds, in accordance with regulatory requirements and applicable laws.

   3. Sticitt, as the entity responsible for performing KYC on behalf of MPay, shall ensure compliance with all applicable regulatory requirements, including customer verification and risk assessment procedures.

   4. Upon Sticitt obtaining its own FSCA Category 1 license, all compliance obligations related to customer relationships will transition accordingly from MPay to Sticitt.

7. Personal Information

   1. By using MPay digital, you consent to the collection, processing, and storage of your personal information by Sticitt and MPay digital in accordance with the Protection of Personal Information Act (“popia”) and our privacy policy.

   2. We may collect and process personal information such as your name, email address, phone number, and financial information for the following purposes of providing service and improving MPay digital, complying with legal and regulatory requirements, and communicating with you. This could include sharing your data with 3rd party licensed financial institutions to make use of their service(s) in order to facilitate transactions.

   3. We may share your personal information with third-party service providers, including licensed financial institutions, only for the following purposes:

      1. To make use of their service(s) in order to facilitate transactions.

      2. Process transactions and payments securely.

      3. Verifying your identity and complying with AML obligations.

      4. Providing fraud detection and risk management services.

   4. We ensure that all third parties we engage with comply with strict data protection measures. Your personal information will not be shared for marketing purposes without your explicit consent.

   5. We will implement appropriate, reasonable technical and organisational security measures to protect your personal information against loss, theft, misuse, unauthorized access, disclosure, alteration or destruction. These measures include encryption, access control, secure data storage and regular security audits.

   6. We will retain your personal information only for as long as necessary to fulfil the purpose stated in these terms, to comply with legal obligations, and meet regulatory and auditing requirements.

   7. If we become aware of a data breach that affects your personal information, we will notify you and the relevant regulatory authorities as required by law. we will provide details of the breach, the type of data affected, potential risks and steps taken to mitigate the impact. If you suspect unauthorised access to your account or data, please contact us immediately at support@mpayd.io.

   8. You may request access to, correction of, or deletion of your personal information held by MPay digital by contacting us at support@mpayd.io.

8. No Investment Advice

Mpay digital does not provide investment advice in any form whatsoever and any services or communication by MPay digital should not be construed as investment advice.

9. Limitation of Liability

   1. You acknowledge and agree that you assume full responsibility for your use of MPay digital, including the MPay digital site and service. You acknowledge and agree that any information you send or receive during your use of the site and service may not be secure and may be intercepted or later acquired by unauthorised parties. you acknowledge and agree that your use of the site and service is at your own risk. 

   2. In recognising such, you understand and agree that, to the fullest extent permitted by applicable law, neither Sticitt nor MPay digital nor any related entities, suppliers or licensors will be liable to you for any direct, indirect, incidental, special, consequential, punitive, exemplary or other damages of any kind, including without limitation damages for loss or any other damages based on contract, tort, strict liability or any other theory, resulting from the site or service.

   3. The use or the inability to use the site or service; unauthorised access to or alteration of your transmissions or data; statements or conduct of any third party on the site or service; any actions we take or fail to take as a result of communications you send to us; human errors; technical malfunctions; failures, including public utility or telephone outages; omissions, interruptions, latency, deletions or defects of any device or network, providers, or software (including, but not limited to, those that do not permit participation in the service). 

   4. Any injury or damage to computer equipment; inability to fully access the site or service or any other website; theft, tampering, destruction, or unauthorised access to, images or other content of any kind; data that is processed late or incorrectly or is incomplete or lost; typographical, printing or other errors, or any combination thereof; or any other matter relating to the site or service. 

10. Indemnification

    1. You indemnify and hold harmless Sticitt, MPay digital and its representatives, affiliates, officers, directors, employees, agents from any claims, losses, liabilities, damages, costs, and/ expenses arising out of, or relating to, or in connection with your use of your violation of these terms or a third party claim pursuant to your violation of the terms and applicable law.

    2. No delay or omission on the part of MPay digital in exercising any right shall be construed as a waiver of such rights.

11. Sophistication and Risk of Cryptographic Systems

    1. By utilising the service or interacting with MPay digital in any way, you represent that you understand the inherent risks associated with cryptographic systems; and warrant that you have an understanding of the usage and intricacies of native cryptographic systems including but not limited to smart contracts and blockchain technology.

    2. MPay digital could be impacted by one or more regulatory inquiries or regulatory action, which could impede or limit the ability of MPay digital to continue to develope, or which could impede or limit your ability to access or use the service. best efforts will be made to effectively communicate and anticipate any regulatory changes to its customers.

    3. You understand that blockchain technologies and associated currencies or tokens are highly volatile due to many factors including but not limited to adoption, speculation, technology and security risks.

    4. You also acknowledge that the cost of transacting on such technologies is variable and may increase at any time causing impact to any activities taking place on MPay digitals’ systems and platforms. you acknowledge these risks and represent that MPay digital or any related entity or person cannot be held liable for such fluctuations or increased costs.

12. Governing Law and Dispute Resolution

    1. These terms shall be governed by and construed in accordance with the laws of South Africa, including the Protection of Personal Information Act.

    2. Any dispute arising out of or in connection with these terms shall be resolved through arbitration in accordance with the rules of the Arbitration Foundation of South Africa (“AFSA”).

13. Duration and Termination

    1. We will provide you with the services from the time of commencement of the use of the services by you, until such time as you terminate your MPay digital account, or the agreement is otherwise terminated by you or us in accordance with these terms.

    2. Notice by you of termination of the agreement should be sent to us at support@mpayd.io.

14. Time Limitation

You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to the use of the service or the terms must be filed within one (1) year after such claim or cause of action arose. Should you fail to institute such claim within one (1) year after the claim or cause of action arose, you hereby waive all rights to institute proceedings in respect of such claim subsequent to such one (1) year period.

15. Matters Beyond Our Control

We will not be liable for any breach of the terms of use if it is caused by a matter beyond our reasonable control, including but not limited to acts of god, force majeure, internet failures (including your internet provider), computer equipment failures, telecommunication equipment or other equipment failures, electrical power failures, fire, lightning, explosion, war, flood, industrial disputes, sabotage, severe weather, or acts of local or central government or other competent authorities.

16. Breach

    1. MPay digital is entitled without notice, in addition to any other remedy available to it at law or under these terms, including obtaining an interdict, to limit or deny such customer use of the services, or to claim specific performance of any obligation, in either event without prejudice to MPay digital’s right to claim damages, should any customer:

       1. breach any of these terms;

       2. in the sole discretion of MPay digital, use the services  in an unauthorised manner; or

       3. infringe any statute, regulation, ordinance or law.

    2. MPay digital reserves the right to institute legal proceedings against you pursuant to a breach of the terms by you, and you agree to reimburse the legal costs incurred pursuant to such legal action to MPay digital on an attorney and own client scale.

17. Notices

    1. Except as is expressly stated otherwise, any notices shall be provided to MPay Digital via email to support@mpayd.io. Notice shall be deemed to have been given twenty-four hours after the email is sent (excluding weekends and government holidays), unless the sending party is notified that the receiving email address is invalid.

    2. MPay digital may give you notice by registered mail, postage prepaid and return receipt requested, to the address which you have provided to MPay digital. In such case, notice shall be deemed to have been given seven (7) days after the date of mailing, unless proof of receipt has been received prior to such time period. you acknowledge that all agreements, notices or other communication required to be given in terms of the law or these terms may be given via electronic means and that such communications shall be deemed to be “in writing”. Should such notice be given electronically, notice shall be deemed to have been given twenty-four hours after the email is sent (excluding weekends and government holidays), unless the sending party is notified that the receiving email address is invalid).

18. Disputes

    1. In the event of a dispute you must give MPay digital written details of any dispute as soon as it arises, and by no later than five (5) business days thereafter, by submitting a ticket via our support platforms.

    2. If you do not advise MPay digital of a dispute within the required time frame, MPay digital may reject the dispute.

    3. Any dispute arising out from or in connection with these terms, including any questions regarding their existence, validity and termination, shall be referred to and finally resolved by arbitration in accordance with the rules of the arbitration foundation of South Africa (“afsa”).

    4. The arbitration shall be conducted in the city of cape town before a single arbitrator appointed by agreement between the parties, failing which the arbitrator shall be appointed by AFSA. The arbitration proceedings shall be conducted in English, and the decision of the arbitrator shall be final and binding on the parties. Nothing in this clause shall prevent a party from seeking urgent interim relief from a court of competent jurisdiction.

19. Modification of Terms

These terms may be discretionarily modified or replaced at any time unless stated otherwise herein. The most current version of these terms will be posted on the site. any changes or modifications will be effective immediately upon posting the revisions to the site. you shall be responsible for reviewing and becoming familiar with any such modifications. you waive any right you may have to receive specific notice of such changes or modifications. Use of the service by you after any modification to the terms constitutes your acceptance of the terms as modified. if you do not agree to the terms in effect when you access or use the service, you must stop using the service.

20. Contact Information

If you have any questions or concerns about these terms or MPay digital, please contact us at support@mpayd.io, alternatively log a support ticket on our website at https://www.mpayd.io/contact

21. Entire Agreement

Notwithstanding clause 18.1, these terms (and any additional terms, rules and conditions of participation that may be posted on the service) constitute the entire agreement with respect to the service and supersedes any prior agreements, oral or written. In the event of a conflict between these terms and the additional terms, rules and conditions of participation, the latter will prevail over the terms to the extent of the conflict.

22. Severability

If any provision of these terms is held unenforceable for any reason, the remainder of this agreement shall continue in full force and effect.

23. General Terms

    1. You shall not be entitled to cede your rights or assign your rights or delegate your obligations in terms of these terms to any third party without the prior written consent of MPay digital.

    2. No party shall be bound by any express or implied term, representation, warranty, promise or the like not recorded herein.

    3. The headings to the paragraphs to these terms are inserted for reference purposes only and shall not affect the interpretation of any of the provisions to which they relate.

    4. Words importing the singular shall include the plural and vice versa, and words importing the masculine gender shall include female and words importing persons shall include partnerships and corporate and unincorporated entities, to the extent applicable

    Terms of Use Last updated on 18 July 2025