TERMS AND CONDITIONS FOR AIRTEL - KWIKA CONSUMER LOANS
The following terms and conditions apply to the Airtel consumer loans product hereinafter referred to as "Kwika" or “Airtel Loans Product”. The product is a micro-loan product which will be available to Airtel Money customers who are over 18 years, have a valid Zambian national ID, and have been active on Airtel Money for at least 6 months.
1. DEFINITIONS
In these Terms and Conditions, the following words and expressions (save where the context requires otherwise) bear the following meanings:
1.1. "Bank" means Access Bank Zambia Limited; being a financial institution duly registered in the Republic of Zambia under number 120070069264, with its principal place of business situated at Stand 746B, Church/Nasser Roads, Lusaka, Zambia;
1.2. "Credit Reference Bureau" means a credit reference bureau duly licensed under the Bank of Zambia to inter alia, collect and facilitate the sharing of customer credit information;
1.3. "Customer" means the person in whose name the Airtel Zambia Subscriber Identity Module (SIM) card is registered with the Bank is existing;
1.4. "Customer Care Centre" means any Airtel Mobile Commerce Zambia Limited (AMCZL) Retail Shops or such other retail outlets or outlets as may be notified to the Customer by the Bank from time to time;
1.5. “Down Payment” means the initial funding that a person makes to the Airtel money Account.
1.6. "Equipment" includes your mobile phone handset, SIM Card and/or other equipment which when used together enables an individual to access the Airtel Money Network;
1.7. “Airtel Money Loans” is the service which enables eligible Airtel Money customers to take a loan or deposit from/to Airtel Money wallets.
1.8. “Airtel Money Menu” means the menu that Airtel Money Customers use to access the loans menu
1.9. "Airtel Loans Account" means your mobile money store of value, being the record maintained by AMCZL of the amount of E-Money from time to time held by you in the AMCZL System;
1.10. "Airtel Money PIN" means the Airtel Money subscriber’s secret code used to access and operate the Airtel Money wallet;
1.11. "Airtel Money Subscriber" means any person registered to use the Airtel Money System to send, receive money or make payments;
1.12. "Network" means the mobile cellular network operated by AMCZL in Zambia;
1.13. "Request" means a request or instruction received by the Bank from an Airtel Money customer or purportedly from an Airtel Money customer through the Network upon which the Bank is authorized to act;
1.14. "AMCZL" means Airtel Money Commerce Zambia Limited, a financial institution incorporated in Zambia and licensed by Bank of Zambia;
1.15. "SIM Card" means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network and to use the Airtel Money System;
1.16. "SMS" means a short message service consisting of a text message transmitted from one mobile phone to another or from the system to a mobile phone;
1.17. "Fees" means any charges that will be charged for providing the loan to the customer. The fees charged are subject to change at any time at the Bank's sole discretion;
1.18. "Reversal" means the act of reversing funds via Airtel Money that were either wrongly credited or debited into a subscriber’s Airtel Loans Account.
1.19. "We," "our," and "us," means the Bank and, where the contents so permits, includes the successors and assigns of the Bank;
1.20. "Airtel Money Loans Account" means an account held by an Airtel Money Customer with the Bank from which the Customer may from time to time transfer money from or to his Airtel Loans Account and vice versa in accordance with these terms and conditions;
1.21. “Airtel Money Loans System” means the technical operational platform operated by AMCZL and or its Partners to provide the Airtel Money Loans Service.
1.22. "You" or "your" means the Customer and includes the personal representatives of the Customer;
1.22.1. The word "Customer" shall include both the masculine and the feminine gender as well as juristic persons;
1.22.2. Words importing the singular meaning where the context so admits include the plural meaning and vice versa.
1.22.3. Headings in these Terms and Conditions are for convenience purposes only and they do not affect the interpretation of this Agreement.
2. ACCEPTANCE OF THE TERMS AND CONDITIONS.
2.1. Before applying to open the Airtel Money Loans via the Airtel Money System you should carefully read and understand these Terms and Conditions which will govern the use and operation of the Airtel Money Loans Account.
2.2. If you do not agree with these Terms and Conditions, please click "Decline" on the Airtel Money Menu.
2.3. You will be deemed to have read, understood and accepted these Terms and Conditions:
2.3.1. upon clicking on the "Accept" option on the Airtel Money Loans Menu requesting you to confirm that you have read, understood and agreed to abide with these Terms and Conditions; and/or
2.3.2. By using or continuing to use and operate the Airtel Loans Account.
2.4. By applying to open the Airtel Loans Account with the Bank, you agree to comply with and be bound by these Terms and Conditions for the time being and from time to time in force governing the operation of the Airtel Loans account and you affirm that these Terms and Conditions herein are without prejudice to any right that the Bank may have with respect to the Airtel Loans Account in law or otherwise.
2.5. These Terms and Conditions may be amended or varied by the Bank from time to time and the continued use of your Airtel Loan Account constitutes your agreement to be bound by the terms of any such amendment or variation.
2.6. You acknowledge and accept that the Bank offers the Airtel Loans Account only electronically and you agree to do business with the Bank and to operate the Airtel Loans Account only by electronic means via the Airtel Loans Menu on the Airtel Money System. Any query and complaint you may have relating to the Services shall be addressed to the Bank through the Airtel Money Customer Care Centre. For the avoidance of doubt, you acknowledge and accept that you will not be allowed or entitled to receive or demand the Services pertaining to the Airtel Loans Account at any branch or branches of the Bank unless otherwise advised by the Bank in its sole discretion. You further acknowledge and accept that the Customer Care Centre is not a branch of the Bank or the Bank’s Agent for purposes of conducting banking business or transactions and that it will not act as such.
3. QUALIFICATION FOR AIRTEL MONEY LOANS
3.1. In order to qualify for Airtel Loans, you must be a Zambian citizen of at least 18 years and above and a registered and active Airtel Money Subscriber. The Bank reserves the right to verify with AMCZL the authenticity and status of your Airtel Money Account.
3.2.You may open a Airtel Loans solely by way of an electronic application made by you using your Equipment via the Airtel Money Menu on the Airtel Money System.
3.3.You hereby agree and authorise the Bank to request AMCZL for your personal information held by AMCZL pursuant to the agreement between you and AMCZL for the provision of AMCZL's products and services and Airtel Money Service including your phone number, name, date of birth, ID or Passport Number and such other information that will enable the Bank to identify you and comply with the regulatory "Know Your Customer" (Anti Money Laundering) requirements (together the "Personal Information"). You also hereby agree and authorise the Bank to request AMCZL for information relating to your use of the Airtel Money Service, Airtel GSM service and Airtel Money System as the Bank shall require for purposes of providing you the Services ("Airtel Information"). You hereby consent to the disclosure of the Personal Information and the Airtel Information by AMCZL to the Bank and to the aforesaid use of the Personal Information and the Airtel Information by the Bank for a mobile loan facility.
3.4. You hereby agree and authorize the Bank to obtain and procure your Personal Information from AMCZL and you further agree and consent to the disclosure and provision of such Personal Information by AMCZL.
3.5. You hereby further acknowledge and authorize the Bank to verify your Personal Information received from AMCZL pursuant to Clause 4.3 against the information received from AMCZL.
3.6. The Bank reserves the right to request for further information from you pertaining to your application for an Airtel Loans Account at any time. Failure to provide such information within the time required by the Bank may result in the Bank declining to accept your application for an Airtel Loans Account.
3.7. Acceptance by the Bank of your application for an Airtel Loans account shall be done via SMS sent to the Airtel Money Mobile Phone Number associated with your Airtel Account. You acknowledge and accept that the acceptance by the Bank of your application for an Airtel Loans Account does not create any contractual relationship between you and Airtel Money beyond the terms and conditions that apply to your Airtel Account from time to time.
3.8. The Bank reserves the right to decline your application for a Airtel Loans or to revoke the same at any stage at the Bank's sole discretion and without assigning any reason thereto.
4. HOW TO ACCESS AIRTEL MONEY LOANS
4.1. To participate, dial *115# from your device, follow the prompts and accept these Terms and Conditions to opt into the Service.
4.2. Where you opt in to Airtel Loans , your application shall be appraised according to the applicable loan appraisal processes of the Bank. The Bank reserves the right at its sole discretion and without assigning any reason to approve or decline your application for a loan.
4.3. When you opt into the service by accepting these terms and conditions, you can dial *115# to access the Airtel Money Menu and access the Airtel Loans Account provisioned for you.
4.4. You can now deposit onto your Airtel Loans Account and/or take a loan whose maximum limit will be determined by the Bank.
4.5. Follow the prompts in the Airtel Money Menu to make deposits, take a loan, or make payments towards your loan
4.6. The loan tenure is for 7-days, 14-days and 30-days and it attracts a monthly interest between 10% to 23% of the loan amount per month. Failure to pay back the loan by the due date will result in a rollover fee of 10%.
4.7. Should you fail to make full repayment of your loan after the loan tenure or after the rollover period, then the bank in collaboration with AMCZL reserves the right to automatically debit your Airtel Money digital wallet until the full loan amount is recovered.
4.8. You will receive loan repayment reminders from time-to-time to remind you to make payment towards your loan.
4.9. The Bank shall be entitled to terminate this Agreement and close your Airtel Loans Account in accordance with the provisions of Clause 14 without prejudice to any of its rights accruing hereunder if you fail to repay the Loan and/or any interest due thereon within 90 calendar days of the disbursement of the Loan.
4.10. The Bank reserves the right to vary the terms of the Loan including the interest payable thereon from time to time having regard to the prevailing rules and regulations of the Bank of Zambia and the policies of the Bank.
4.12. You hereby expressly consent and authorize the Bank to disclose,
respond, advise, exchange and communicate the details or information pertaining to your Airtel Loans Account to Credit Reference Bureaus as required under the Bank of Zambia.
5. IRREVOCABLE AUTHORITY OF THE BANK
5.1. You hereby irrevocably authorize the Bank to act on all Requests received by the Bank from you (or purportedly from you) through the System and to hold you liable in respect thereof, notwithstanding that any such requests are not authorized by you or are not in accordance with any existing mandates given by you.
5.2. If you request the Bank to cancel any transaction or instruction after a Request has been received by the Bank from you, the Bank may in its absolute discretion cancel such transaction or instruction but shall have no obligation to do so.
5.3. The Bank shall be entitled to accept and to act upon any Request, even if that Request is otherwise for any reason incomplete or ambiguous if, in its absolute discretion, the Bank believes that it can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.
5.4. The Bank is authorized to effect such orders in respect of your Airtel Loans as may be required by any court order or competent authority or agency under the applicable laws.
5.5. In the event of any conflict between any terms of any Request received by the Bank from you and these Terms and Conditions, these Terms and Conditions shall prevail.
6. LOST, STOLEN OR DAMAGED SIM CARD
You agree that even if your SIM card gets lost or damaged, that you will be responsible to pay the loan and interest or any applicable fees for the Product.
7. INTENDED USE ONLY
All Airtel Loans products shall be used solely in accordance with the instructions provided in the relevant Product instruction manuals where applicable.
8. CUSTOMER'S EQUIPMENT AND CUSTOMER'S RESPONSIBILITIES
8.1. You shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by the Bank concerning the use of the System and Services.
8.2. You agree and acknowledge that you shall be solely responsible for the safekeeping of your Airtel Money PIN secret and secure. You shall ensure that your Airtel Money PIN does not become known or come into possession of any unauthorized person. The Bank shall not be liable for any disclosure of your Airtel Money PIN to any third party and you hereby agree to indemnify and hold the Bank harmless from any losses resulting from any Airtel Money PIN disclosure.
8.3. You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all
communications from the Bank are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected.
8.4. You shall immediately inform Airtel’s Customer Care Centre in the event that:
8.4.1. You have reason to believe that your Airtel Money PIN is or may be known to any person not authorized to know the same and/or has been compromised; and/or
8.4.2. You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised. Note that any such notification shall not absolve you of any loan repayment obligation with the Bank.
8.5. You shall at all times follow the security procedures notified to you by the Bank/Airtel from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Airtel Loans Account's confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.
8.6. You shall not at any time operate or use the Services in any manner that may be prejudicial to the Bank.
8.7. You shall at any time be responsible for any transaction made to and or from your Accounts, and you guarantee you agree that Airtel Loans transactions are not reversible.
9. EXCLUSION OF LIABILITY
9.1. The Bank shall not be responsible for any loss suffered by you, should the Services be interfered with or be unavailable by reason of (a) the failure of any of your Equipment, or (b) any other circumstances whatsoever not within the Bank's control including, without limitation, force majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
9.2. The Bank will not be liable for any losses or damage suffered by you as a result of or in connection with: -
9.2.1. Unavailability of sufficient funds in your Airtel Money Account and 9.2.2. failure, malfunction, interruption or unavailability of the Airtel Money System and/or Airtel service, your Equipment and the Network;
9.2.3. your failure to give proper or complete instructions for payments or transfers relating to your Airtel Loans Account;
9.2.4. any fraudulent or illegal use of the Airtel Money Services, Airtel System and/or your Equipment; or
9.2.5. Your failure to comply with these Terms and Conditions and any document or information provided by the Bank concerning the use of the System and the Services.
10. INTELLECTUAL PROPERTY RIGHTS
You acknowledge that the intellectual property rights in the System (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that the Bank provides to you through the System or otherwise are vested either in the Bank or in other persons from whom the Bank has a right to use and to sub-license the System and/or the said documentation. You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the System and associated documentation without the prior written consent of the Bank.
11. INDEMNITY
11.1. In consideration of the Bank complying with your instructions or Requests in relation the Airtel Loans Account, you undertake to indemnify the Bank and hold it harmless against any loss, charge, damage, expense, fee or claim which the Bank suffers or incurs or sustains thereby and you absolve the Bank from all liability for loss or damage which you may sustain from the Bank acting on your instructions or requests or in accordance with these Terms and Conditions.
11.2. The indemnity in clause 11.1 shall also cover the following:
11.2.1. All demands, claims, actions, losses and damages of whatever nature which may be brought against the Bank or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond the Bank's control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by the Bank.
11.2.2. Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs.
11.2.3. Any unauthorized access to your Airtel Loans Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.
11.2.4. Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by the Bank as a consequence of any breach of these Terms and Conditions.
11.2.5. Any damages and costs payable to the Bank in respect of any claims against the Bank for recompense for loss where the particular circumstance is within your control.
12. VARIATION AND TERMINATION OF RELATIONSHIP
12.1. The Bank may at any time, upon notice to you, terminate or vary its business relationship with you and close your Airtel Loans Account and in particular but without prejudice to the generality of the foregoing, the Bank may cancel credits which it has granted and require the repayment of outstanding debts resulting therefrom within such time as the Bank may determine.
12.2. Without prejudice to the Bank rights under clause
13.1. the Bank may at its sole discretion suspend or close your Airtel Loans and Account:
12.2.1. if you use the Airtel Loans Account for unauthorized purposes or where the Bank detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
12.2.2. if your Airtel Money Account or agreement with AMCZL is terminated for whatever reason;
12.2.3. if the Bank is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;
12.2.4. if the Bank reasonably suspects or believes that you are in breach of these Terms and Conditions (including non-payment of any Loan amount due from you where applicable);
12.2.5. where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety;
12.2.6. to facilitate update or upgrade the contents or functionality of the Services from time to time;
12.2.7. where you remain inactive for any period of time determined by the Bank in its reasonable discretion; or
12.2.8. If the Bank decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion.
12.3. You may close your Airtel Loans Account at any time at any Customer Care Centre.
12.3.1. If your Airtel Loans Account has any credit balance at the time of its closure, the Bank will return any such balance to you, less any applicable interest. If your Airtel Loans Account is in arrears at the time of closure of your Airtel Loans Account, you agree to pay immediately all amounts you owe the Bank.
12.3.2. Termination shall however not affect any accrued rights and liabilities of either party.
12.3.3. If the Bank receives notice of your demise, the Bank will not be obliged to allow any operation or withdrawal from your Airtel Loans Account by any person except upon production of Grants of Letters of Administration or Probate by your legal representatives duly appointed by the Court.
13. CONFIDENTIALITY
13.1. The Parties undertake to keep confidential the provisions of these terms, as well as any information disclosed during the use of these Services
and that either Party shall use such information only to the extent necessary to perform the obligations stated in these terms or as may be required by law.
14. DISCLOSURE OF INFORMATION
14.1. You hereby expressly consent and authorize the Bank to disclose, receive, record or utilize your personal information or data relating to your Airtel Loans Account and any details of your use of the Services:
14.1.1. to and from any local or international law enforcement or competent regulatory or governmental agencies so as to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud;
14.1.2. to and from the Bank's service providers, dealers, agents or any other company that may be or become the Bank's subsidiary or holding company for reasonable commercial purposes relating to the Services;
14.1.3. to a Credit Reference Bureau;
14.1.4. to the Bank's lawyers, auditors or other professional advisors or to any court or arbitration tribunal in connection with any legal or audit proceedings;
14.1.5. to AMCZL in connection with the Airtel Money Service and the Services;
14.1.6. for reasonable commercial purposes connected to your use of the Services, such as research related activities; and
14.1.7. in business practices including but not limited to quality control, training and ensuring effective systems operation.
15. DATA PROTECTION AND PRIVACY
15.1. We recognize the importance of protecting the privacy of all information provided by our Customers. This statement is meant to affirm our utmost respect for your rights to privacy.
15.2. We collect directly or indirectly personally identifiable information that we use to profile our Customers and administer individual Accounts, update our databases and provide user support. You must not provide any false, inaccurate, incomplete or misleading information and you warrant and undertake to comply with all obligations imposed under all applicable laws and regulations.
15.3. Save as provided above, we do not share your personal information with unauthorized persons and adequate safeguards have been put in place to prevent unauthorized access and to ensure confidentiality of your personal information.
16. MISCELLANEOUS
16.1. These Terms and Conditions (as may be amended from time to time)
form a legally binding agreement binding on you and your personal successors.
16.2. This Agreement and any rights or liabilities accruing thereunder may not be assigned by you to any other person.
16.3. The Bank may vary or amend at any time and without notice to you these Terms and Conditions and the interest. Any such variations or amendments may be published in posters or pamphlets available at AMCZL's Agents outlets, in the daily newspapers, on the Bank and/or AMCZL Limited's website and/or by any other means as determined by the Bank and any such variations and amendments shall take effect immediately upon publication.
16.4. No failure or delay by either yourself or the Bank in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy.
16.5. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.
16.6. If any provision of these Terms and Conditions shall be found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provision shall not affect the other provisions herein.
16.7. Any addition or alteration to these Terms and Conditions may be made from time to time by the Bank and you consent that the additions or alterations shall be binding upon you as fully as if the same were contained in these Terms and Conditions.
17. NOTICES
17.1. The Bank may send information concerning the Airtel Loans Account via SMS to the Airtel Money Mobile Phone number associated with your Airtel Money Account.
17.2. You acknowledge that you have no claim against the Bank for damages resulting from losses, delays, misunderstandings, mutilations, duplications or any other irregularities due to transmission of any communication pertaining to the Airtel Loans Account.
18. DISPUTE RESOLUTION
18.1. You may contact Airtel’s Customer Care Center to report any disputes or Airtel Loans Account discrepancies.
18.2. Any dispute referred to in Clause 18.1 above shall be referred to the Bank by Airtel for resolution.
18.3. This Agreement shall be governed by and construed in accordance with the laws of the Republic of Zambia.
19. QUESTIONS AND COMPLAINTS
19.1 For any inquiries, you may reach the Airtel Customer Care Centre via their 24-hour telephone service, by visiting a designated Help Desk, or through electronic mail at AirtelCustomerServices@zm.airtel.com. Mobile subscribers may dial 111 (toll-free) from an Airtel line.
19.2 A representative shall notify you concerning the status of any reported discrepancy. Notwithstanding that certain issues may require a more protracted resolution timeframe, Airtel shall provide acknowledgment of receipt in such circumstances. Airtel further undertakes to update you on the progress of the complaint within three (3) business days following its submission.