Terms and conditions

I.                REMINDERS

1.     SUBJECT

The Terms and Conditions of Use (TCU) or End User License Agreement (EULA) constitute a contractual document governing the terms of interaction between a service provider and its users. 

The terms and conditions of use do not constitute a binding document. It is an optional document that may be submitted to the user of a service to govern its use. 

It is a contractual document. It is qualified as an adhesion contract as opposed to a negotiated contract. The service user chooses to accept or reject them but does not negotiate their content with the service operator. 

Like any contractual document, the terms and conditions of use commit the service user and its operator to respect their content.

2.     PREREQUISITE

Please read carefully the following Terms and Conditions of Use before starting to use the MOMOKASH service. Its use implies that you certify having read them and accept them without reservation. In case you do not accept the TCU or have reservations, please do not use this Mobile Application. 

To conclude these terms and conditions of use, and access the MOMOKASH mobile application, you must be over 21 years old. 

If you are not in Cameroonian territory, this service is not intended for you. 

If you are Cameroonian and reside in a conflict zone, the MOMOKASH service may be refused to you according to the terms of the clauses stipulated in these terms and conditions of use.

II.              ACCEPTANCE OF THESE GENERAL CONDITIONS

The acceptance of these general terms and conditions of use is done in the dialogue that is triggered when a user dials the USSD code *036# or any other communicated USSD code from their mobile phone to consume the MOMOKASH service. The user thus accepts the particular conditions, concluding the agreement between the MOMOKASH service and themselves (the customer). 

This acceptance grants the MOMOKASH service (via Mobile Money Corporation) the right to debit the customer’s mobile money account in case of total non-repayment of a mobile loan. 

CREDIX.CAM SA reserves the right to modify these general conditions, and will publish updated versions at the following URL address: https://www.credixcm.com or via the partner payment service provider. Any use of the general conditions thus modified will constitute tacit agreement by the customer.

III.            DEFINITIONS

• USSD Code (Unstructured Supplementary Service Data): Protocol or interface used by a GSM terminal to communicate with the operator’s server providing a service. 
• MOMOKASH Savings Account: Virtual electronic account that MTN MoMo users can open through the CREDIX MOMOKASH platform in the books of the partner Financial Institution by transferring money from their MoMo to their special remunerated accounts called MOMOKASH savings accounts. 
• Particular Conditions: The customer’s personalized digital offer that they receive on their mobile phone during MOMOKASH loans or savings and where the specific nano-credit or savings conditions of the customer are defined (via SMS). 
• Repayment Date: Date on which the amount to be repaid indicated in the customer’s particular conditions is requested or any other date that the bank or MOMOKASH MFI may communicate via the MOMOKASH platform. 
• Service Fees: Amounts corresponding to a percentage of the initial loan amount deducted by the CREDIX system from repayments made by customers who have benefited from a MOMOKASH or CORPOCASH nano-credit in remuneration for this instant loan service and for the benefit of the partner Financial Institution, CREDIX and its partner MMC. 
• Financial Institution: Bank or Microfinance Establishment (MFI) having signed a SAAS “software as a service” contract with CREDIX.CAM SA company, holder of the MOMOKASH platform and using it as a tool for collecting small deposits and granting nano-credits. 
• Interest: Amounts corresponding to a percentage of the savings amount to be automatically debited by the MOMOKASH system from the partner Financial Institution’s MoMo MOMOKASH Account in order to constitute a provision in CREDIX’s MoMo MOMOKASH Account to remunerate all deposits made by customers on their MOMOKASH savings accounts. 
• MTN MoMo: Mobile Money service of the Payment Service Provider Mobile Money Corporation. 
• Amount to be Repaid: Designates the total amount to be repaid for the mobile nano-credit/micro-credit obtained by the customer, including all service fees and any penalties. 
• MOMOKASH Nano-credits: Very small loans between 500 and 10,000 FCFA that the partner FINANCIAL INSTITUTION can, thanks to the MOMOKASH technology platform, grant by mobile phone to an MTN MoMo user, for a duration between 15 days or 30 days depending on whether the loan is rescheduled. 
• PIN: Personal Identification Number, confidential, delivered to the customer during their registration on the MOMOKASH platform, thanks to which they can access it and which allows them to use their MOMOKASH account and be recognized for their nano-deposit and nano-credit operations. 
• Payment Service Provider (PSP): Mobile Money Corporation, holder of a payment establishment license issued by COBAC (Central African Banking Commission) and signatory of an interconnection contract with CREDIX.CAM SA company, holder of the MOMOKASH Technology Platform. 
• CREDIX System: Or technology platform is a technology system comprising all tools, hardware, software and servers belonging to CREDIX, which is used by the partner Financial Institution to facilitate and offer its loan granting and savings collection activities to the public, particularly to MTN MoMo users. 
• User: Designates any natural person residing in Cameroon, holder or having the enjoyment of a Mobile subscription who has subscribed to the MOMOKASH platform service through the short number (*036# or any other USSD code that will be communicated to them). 
• Mobile Loan: This is the loan granted through the CREDIX system. 

 

IV.            LEGAL BASIS OF MOMOKASH SAVINGS ACCOUNTS AND NANO-LOANS

The activity of managing savings accounts and nano-credits on the MOMOKASH Technology Platform (CREDIX system) falls under the responsibility of Financial Institutions approved by COBAC (regulatory body of the financial sector in the CEMAC zone) which use said system as a tool for diversification and improvement of their working methods.

V.              APPLICATION AND MANAGEMENT OF MOBILE NANO-CREDITS

1. Subscription to MOMOKASH service and user authorisations

Before accessing the MOMOKASH loan, the mobile money user must first subscribe to the service. The subscription is validated when the customer pays non-refundable subscription fees of 500 FCFA to the MOMOKASH system by mobile money. 

Through this subscription: 

A. Acceptance of General Conditions 

The customer accepts these general conditions and authorizes MOMOKASH to use their mobile money account for savings, loans, repayments and automatic debits. 

B. Authorization for Access to Personal Information 

The customer authorizes MOMOKASH to have access to all their personal information from the Mobile Operator, in compliance with Law No. 2024/017 of December 23, 2024 relating to the protection of personal data. 

C. Specific Authorizations for Recovery 

The customer expressly accepts that: 

1. Recovery via Multiple Accounts: The repayment of their debt will be made from all Mobile Money accounts associated with phone numbers registered in their name, including but not limited to MTN Mobile Money, Orange Money accounts, and any other electronic money service operational in Cameroon. 
2. Pledge Authorization: In case of non-repayment within contractual deadlines, they authorize CREDIX to pledge and transfer sums available on their Mobile Money accounts with various electronic money operators. 
3. Automatic Debit Authorization: They authorize all Payment Service Providers, partners of the CREDIX system, to debit due amounts from all Mobile Money accounts associated with phone numbers registered in their name, covering the principal amount of the loan, service fees, any penalties and all costs associated with recovery procedures, including legal fees and court costs. 

D. Consent for Data Sharing 

The customer expressly consents to their personal data being shared for the following purposes: 

1. Credit Assessment: Sharing with partner financial institutions and credit bureaus for creditworthiness assessment and credit risk management. 
2. Regulatory Compliance: Transmission to competent authorities (COBAC, BEAC, tax and judicial authorities) within the framework of reporting obligations, anti-money laundering and prosecutions. 
3. Service Improvement: Behavioral analysis for improvement of CREDIX products and services, including scoring and adaptation of offers. 
4. Commercial Partnerships: Sharing with technology partners and mobile operators for the provision and improvement of mobile payment services. 
5. Physical Recovery: Sharing with recovery agencies, bailiffs, and other recovery professionals to facilitate debtor location and execution of amicable and judicial recovery procedures in case of payment default. 

Authorized Partners: Data may be shared with partner Financial Institutions approved by COBAC, MTN Cameroun SA, Mobile Money Corporation, authorized credit bureaus, CREDIX.CAM SA and its subsidiaries, agents and representatives of Financial Institutions in the context of recovery operations, approved recovery agencies, bailiffs, and any other technical partner necessary for service provision, subject to signing appropriate confidentiality agreements. 

Types of Data Shared: Within the framework of the purposes mentioned above, the following types of data may be shared: 

• Identification Data: Name, first names, date and place of birth, identity card number, unique identifier number, profession, residential address 

• Contact Data: Phone numbers (primary and secondary), email address, postal address 

• Geolocation Data: Historical and real-time GPS coordinates obtained via mobile phone location services 

• GSM and Mobile Money Data: Transaction history, account balances, telephone traffic data, network usage patterns 

• Contact-related Data: Telephone contact list, frequency and nature of communications with these contacts 

• Behavioral Data: Movement habits, service usage frequency, consumption profiles 

• Financial Data: Declared or estimated income, other financial commitments, credit history 

E. Consent for Marketing Communications 

The customer accepts to receive personalized marketing communications: 

1. Types of Communications: SMS, phone calls, push notifications, and emails relating to promotional offers, new products, and financial services from CREDIX and its partners.
2. Personalization: Communications will be personalized based on their credit profile, transaction habits, and presumed preferences. 
3. Unsubscription Right: The customer may at any time unsubscribe from these communications by choosing the “stop marketing” option from the “my account” menu or by contacting customer service at +237 681 480 507. 

F. Data Subject Rights 

In accordance with Law No. 2024/017 of December 23, 2024, the customer has the following rights: 

1. Right of Access: Obtain confirmation that their data is being processed and access to this data 
2. Right of Rectification: Correct inaccurate or incomplete data 
3. Right of Erasure: Request deletion of their data under certain conditions 
4. Right of Portability: Retrieve their data in a structured format 
5. Right of Opposition: Object to the processing of their data for certain purposes 

These rights may be exercised by contacting the CREDIX Data Protection Officer at: dpo@credixcm.com or by postal mail to CREDIX.CAM SA, P.O. Box 14209 Yaoundé. 

G. Data Security 

CREDIX commits to implementing appropriate technical and organizational measures to protect personal data against any unauthorized access, alteration, disclosure or destruction. 

H. Data Retention 

Personal data is retained for the duration necessary for the purposes for which it is processed, and for a maximum of 10 years after the end of the contractual relationship, except legal obligation for longer retention. 

I. Annual Review 

As the MOMOKASH general conditions are subject to annual review, users who have already subscribed to the MOMOKASH service must re-subscribe to the revised general conditions at the beginning of each year before granting any new loan. In this case, the cost of the new subscription is set at 300 FCFA non-refundable. 

2. Mobile nano-credits concept

Mobile nano-credits are emergency mobile consumer loans that can be made on a terminal. Mobile nano-credits are non-overlapping and may be granted to adult natural or legal persons. The minimum value is 500 FCFA and the maximum amount cannot exceed 10,000 FCFA. 

The validation of the amount of mobile loan requested by the customer is sovereignly evaluated by the partner Financial Institution according to a pre-registered rating in the MOMOKASH platform that ensures consistency. 

The duration of the nano-credit is 15 days, from the date of electronic transfer of the loan to the customer’s Mobile Money account or to any other Mobile Money account designated by them. 

In case of non-repayment of a loan, the loan (including service fees) is automatically renewed (only once) the day after the due date, under the same conditions as the initial loan. 

The loan renewal takes place after an attempt at complete recovery by automatic debit of the customer’s account at the end of the 15th day of the loan without success. 

Following this unsuccessful attempt at complete loan recovery, an automatic debit mechanism of the customer’s account triggered by any funding of this customer’s account is put in place.

3.     Service fees

(i)    MOMOKASH service fees

Service fees represent 7.5% of the principal of loans granted by the Financial Institution for a duration of 15 days from the date of electronic transfer of the loan to the customer’s Mobile Money account or to any other Mobile Money account designated by them. 

MOMOKASH service fees collected in the Financial Institution’s collection account opened at MMC as well as penalties must be distributed by the Financial Institution among all system actors in accordance with the corresponding consensual distribution grid. 

(ii)   CORPOCASH service fees

This product is divided into three as follows: salary advances, business loans and professional loans (liberal cash). 

The partner Financial Institution alone determines the amount that each of its customers can borrow via the CREDIX system. This customer information produced by the Financial Institution is parameterized in the CREDIX system to allow automated digital loans. Service fees defined by the bank (between 0% and 15% according to regulation) are applied to each loan granted to the FINANCIAL INSTITUTION’s customer for a non-renewable period of 30 days. 

The responsibility for recovering this product lies primarily with the partner Financial Institution, which must, at maturity, automatically debit its customer’s bank account in repayment of their debt. However, in case of insufficient funds in its customer’s bank account, the Financial Institution may rely on the CREDIX system’s automatic debit mechanism on its defaulting customer’s MTN MoMo account. 

CORPOCASH service fees collected in the Financial Institution’s collection account opened at MMC as well as penalties must be distributed by the Financial Institution among all CREDIX system actors in accordance with the consensual distribution grid relating thereto. 

VI.            MOMOKASH or CORPOCASH mobile nano-credits application

To use a MOMOKASH nano-credit or a CORPOCASH micro-credit, the customer dials the USSD code *036# or any other USSD code provided on their mobile phone and chooses the options displayed in the menu at their convenience. At the end of this electronic exchange, the loan may be granted or refused. 

The Customer acknowledges and accepts that their mobile loan application via the CREDIX system creates no contractual relationship between the lending Financial Institution and them before said loan is actually transferred to their Mobile Money account or to any other Mobile Money account designated by them. 

1. MOMOKASH of the mobile nano-credit guarantee

To guarantee that in case of insolvency the lending Financial Institution recovers its rights, the customer authorizes all Payment Service Providers partners of the CREDIX system to debit their Mobile Money account to repay their debt which consists of the principal loan plus service fees and, where applicable, penalties. 

The customer undertakes not to contest with the Payment Service Provider the amount of sums that the CREDIX system claims from them: Any dispute can only be made with CREDIX General Management or in case of non-conciliation before the courts of Yaoundé and Douala. 

It is understood that the irrevocable transfer order, which the customer validates on the platform, is only triggered and automatically executed by the Payment Service Provider when said customer has not repaid their debt within 15 days or when the customer is declared insolvent by the CREDIX system. 

Insolvency is established when, after the due date, the current loan (principal + service fees) has been renewed and this renewal has been subject to penalties on the 31st day of the loan. 

2. Notification in the particular conditions of the MOMOKASH mobile nano-credit

In the MOMOKASH menu of their phone, the customer receives a USSD notification in the MOMOKASH menu of their phone, proposing the Financial Institution willing to grant them a loan and the loan granting conditions. In case of acceptance, the customer receives an SMS message confirming that the loan has been approved. 

3. MOMOKASH nano-credit rating

To avoid having to process users‘ loan applications on a case-by-case basis, which would result in the inability to manually process the large number of desired applications, the partner Financial Institution opts for a prior and automated credit analysis which consists of recording in a credit rating file, the factors that allow the CREDIX system, in collaboration with the partner Payment Service Provider platform, to assign ratings that frame and determine loan limits. 

4.     Credit limit

The determination of the credit limit is based on the rating attributed by the CREDIX system to the customer based on the credit rating validated by the partner Financial Institution. 

VII.          WITHDRAWAL OF MONEY FROM A MOMOKASH ACCOUNT

Customers wishing to withdraw money from their MOMOKASH account must enter the short code *036# or any other USSD code provided. A menu will appear allowing them to choose the withdrawal option then follow the procedure suggested by the menu.

1. Repayment of a MOMOKASH mobile loan

The duration of a MOMOKASH nano-credit is 15 days renewable once. 

At the latest on the due date, the customer is obliged to repay the loan consisting of the principal plus the corresponding service fees. 

If the customer does not know how the amount to be repaid has been calculated, they can call the indicated MOMOKASH Customer Service for an explanation. However, the customer may consult an independent financial advisor for more explanations. The lending Financial Institution will not be held responsible for any inaccurate explanation or statement obtained from Customer Service. 

The loan is deemed transferable as soon as it is placed in the customer’s mobile money account or to any other Mobile Money account designated by them. 

The customer can then choose to repay it partially, provided they ensure that the debt is extinguished on the loan due date. 

The day after the due date, if the customer has still not fully repaid, the loan balance is automatically renewed under the same conditions as the initial loan with the implementation of an automatic debit mechanism of the account with each recharge until complete debt repayment. 

The customer who wishes to repay the loan enters the USSD code *036# or any other USSD code provided, selects the “repay” option from the menu, then follows the different steps displayed for guidance.

2. Forced recovery and penalties

The day after the first loan due date, the automatic recovery procedure, which consists of asking the PSP to execute, within the limit of the claimed sum, the automatic transfer orders (unconditional auto debit) that the customer “signed” when requesting the loan is triggered. 

The request for execution of the irrevocable transfer order “signed” by the customer will only be used as compensation if the customer’s MOMOKASH account is insufficient, empty or non-existent. 

Debtor customers on the due date of the renewed loan are deemed insolvent, may be blacklisted in the CREDIX system and will no longer be eligible for loans, unless they pay their debt in full and after a suspensive period of 1 month has been observed. 

The MoMoKash forced recovery procedure complies with Law No. 2019/021 of December 24, 2019 laying down certain rules relating to credit activity in the banking and microfinance sectors in Cameroon. This law notably exposes the insolvent debtor to banking prohibition, fines and imprisonment. 

The MoMoKASH forced recovery is a two-phase process: 

• The amicable recovery phase 

• The judicial recovery phase 

The amicable recovery phase begins on the 31st day. 

Insolvent customers are contacted by SMS, call, via their social networks (WhatsApp, etc.) or by any other means to again inform them of the amount of their debt, the urgency of repayment and to negotiate a repayment plan. 

This phase concludes on the 45th day. 

The judicial recovery phase begins from the 46th day and is conducted by recovery firms (lawyers or other partners expert in the recovery field) mandated by Financial Institutions through CREDIX.CAM SA. It may be carried out with the support of judicial police officers seized by the mandataries. Summons issued by these services will be scanned and communicated to concerned customers via WhatsApp or any other appropriate means, so that they present themselves at the police station or gendarmerie brigade to answer for the banking insolvency facts reproached to them. From the 46th day of delay, any insolvent customer is required to repay their debt (remaining principal due + service fees + penalty), with a 20% increase covering procedure fees and fees of recovery firms mandated by CREDIXCAM. These fees are automatically deducted from the customer’s account upon any recharge or may be voluntarily paid by the latter to the platform. 

If the insolvent customer does not pay their debt after 60 days, their file may be transmitted to the Public Prosecutor by the diligence of MoMoKash recovery partners. From the 60th day, if the Public Prosecutor’s office is seized by recovery partners mandated by CREDIX, court fees as well as any damages are then entirely at the expense of the insolvent customer. 

VIII.        MOMOKASH LOAN MECHANISM

• It is understood that the MOMOKASH loan is only granted to the user by the Financial Institution duly authorized by COBAC for this purpose and that Mobile Money (MMC), in collaboration with its value-added service provider CREDIX.CAM SA, has the sole role of managing the application solution allowing its realization. 

• In case the customer is granted a loan, the MOMOKASH platform will open for the customer, based on personal information collected from MMC (KYC), an identified bank account (Financial Institution account) in which the amount of the loan granted to the customer will be credited. 

• By validating the appropriate icon in the MOMOKASH menu of their terminal, the customer thus instructs the eponymous platform to debit their bank account at the Financial Institution opened at the time of loan granting, in order to credit their existing mobile money account or to any other Mobile Money account designated by them at MMC, via the Financial Institution’s mobile money payment account at MMC. 

• The mobile money payment account that the Financial Institution opens at MMC is intended to transform loans transferred to it from Financial Institution bank accounts of customers in the form of fiduciary money into electronic money on one hand, and on the other hand, to transform repayments made by debtor customers in the form of electronic money into cash to be transferred to debtor customers’ bank accounts. 

• To repay their loan, the customer must, from their terminal, instruct the MOMOKASH platform to debit, in one or several times, their mobile money account at MMC for the amount of their debt to credit the lending Financial Institution’s electronic payment account for the same amount, thus canceling the debt paid in their existing bank account at this Financial Institution. 

• By validating the General Conditions, the customer explicitly authorizes the lending Financial Institution to automatically debit their mobile money account at MMC for the amount of their debt to credit the Financial Institution’s payment account, if at the expiration of the MOMOKASH loan period, the customer has not voluntarily settled their debt. 

IX.            FREE CHOICE OF THE FINANCIAL INSTITUTION BY CUSTOMER

The Customer acknowledges that their acceptance of the particular conditions that preceded the granting of their nano-credit or acceptance of their savings, and in which appears the name of the Financial Institution covering their operation and which they could have refused, is equivalent to their free choice of the Financial Institution. 

X.              RIGHT TO USER’S PERSONAL INFORMATION

By accepting these general conditions, the user authorizes the lending Financial Institution acting through the MOMOKASH platform to request from its partner PSPs all personal information and data they hold to offer and manage CREDIX products and services, including any other information that may allow said Financial Institutions to better identify the user, manage their risk and comply with regulatory requirements of the banking profession and “Know Your Customer” evaluation methods. 

By accepting these general conditions, the user authorizes and gives consent to partner PSPs and lending Financial Institutions acting through the MOMOKASH platform to disclose any personal information that these structures may hold concerning them and which could be used for optimal management of their MOMOKASH operations on the platform. 

The user also authorizes hereby that in the context of nano-credit applications, partner Financial Institutions acting through the MOMOKASH platform also reserve the right to request, if necessary and at any time, and obtain additional information. Failure to provide us with such information in a timely manner may result in rejection of the mobile nano-credit application or stopping of the nano-credit function for this customer. 

XI.            TERMINATION OF THE AGREEMENT WITH CREDIX SYSTEM

1. a) In case of default:

Without prejudice to other provisions of these General Conditions, the CREDIX system, acting on behalf of its partner Financial Institutions, may exclude users from its system and thus cease to receive their nano-credit applications or refuse to credit their MOMOKASH savings accounts, in case of customer default for various reasons. 

• a) If Financial Institutions acting through the CREDIX system terminate their relationship with the PSP for any reason, the customer will then be notified by the CREDIX system. 

• b) Upon termination of any Agreement with the Customer, all amounts to be repaid will be due in full. 

XII.          COURT FEES   AND OTHER DISPUTES

If the customer fails to pay the total amount to be repaid after the stipulated deadline: 

The Financial Institution acting through the MOMOKASH platform will be entitled to charge the customer reasonable costs (including court fees where applicable) incurred in the recovery process to the last cent of the amount to be repaid. 

XIII.      CUSTOMER EQUIPMENT AND RESPONSIBILITIES

The lending Financial Institution cannot be held responsible for any error or failure due to equipment malfunction on the user’s premises, nor for any loss or delay due to partner PSP system failure. 

The user accepts and acknowledges that they have full responsibility to protect and properly use their equipment and ensure confidentiality and security of their secret information. 

The customer must immediately inform the MOMOKASH platform through its Customer Service in the following cases: 

• When the User has reason to believe that their PIN Code or MOMO Password is or may be known to an unauthorized person and/or has been compromised; 

• When they have reason to believe that unauthorized use of Services has occurred, may have occurred or may occur and that a transaction may have been fraudulently carried out or compromised. 

The customer must systematically follow security procedures notified to them from time to time by the MOMOKASH platform or any other procedure that may apply to services from time to time. 

The customer must never exploit or use the CREDIX System in a manner detrimental to the lending Financial Institution. 

XIV.       DISCLAIMER

The lending Financial Institution, acting through the MOMOKASH platform, will not be responsible for any loss or damage suffered as a result of or in connection with: 

• any circumstances whatsoever beyond the control of the CREDIX system, including but not limited to force majeure or error, interruption, delay or system unavailability, terrorist attack or war resulting in equipment failure, power outage, adverse weather or atmospheric conditions and failure of public or private telecommunications system. 

If, for any reason, MOMOKASH services are disrupted or unavailable, the Financial Institution acting through the MOMOKASH platform will be solely responsible for restoring service availability as soon as possible. 

No dispute between the customer and their Mobile Operator will give them the right to avoid their obligation to pay the amount to be repaid. 

XV.         INTELLECTUAL PROPERTY

The user undertakes not to infringe the intellectual property rights of the MOMOKASH service. 

XVI.       INFORMATION DISCLOSURE

The customer accepts and expressly authorizes hereby the CREDIX system to share their personal information with its Financial Institutions, with its other technical partners or others or to disclose, receive, record or use their personal information held by them. 

Consequently, under the terms of these TCU, the user waives any right or claim they may assert against the CREDIX system and its partners regarding the disclosure of the aforementioned information by them or for their purposes. 

XVII.      NOTIFICATION

The MOMOKASH service may send transaction information by SMS or any other technological means to the customer’s mobile phone number, whether or not associated with the customer’s MOMOKASH or mobile money account. 

XVIII.    DISPUTE RESOLUTION, JURISDICTION AND ARBITRATION

Any dispute arising from or in connection with these TCU not resolved by MOMOKASH Customer Service may be submitted to the courts of the Republic of Cameroon which will have sole jurisdiction. 

XIX.       INCONSISTENCY OF TERMS

In case of inconsistency between these general terms and conditions of use and the particular conditions of the customer’s USSD menus, the terms of the customer’s particular conditions will prevail. 

XX.      HANDLING COMPLAINTS RELATING TO DATA PROTECTION

In case of complaint relating to personal data processing, the customer may: 

1. Contact CREDIX customer service at +237 681480 507 
2. Contact the Data Protection Officer at dpo@credixcm.com 
3. File a complaint with the Cameroon Personal Data Protection Authority (once operational) 

Important: The customer acknowledges that geolocation data, contact data, and GSM/Mobile Money information constitute sensitive data necessary for the proper functioning of the micro-credit service and recovery procedures. The use of this data is strictly limited to declared purposes and is subject to enhanced security measures. 

XXI.      INTERNATIONAL TRANSFERS

No transfer of personal data to third countries will be carried out without prior authorization from the Cameroon Personal Data Protection Authority and without appropriate guarantees for data protection. 

By subscribing to the MoMoKash service, I, the undersigned, understand and hereby accept the terms and conditions, including the Usage Agreement and Privacy Policy. 

AMENDMENT No. 1: CONCERNING THE TERMS AND CONDITIONS OF MOMOKASH

• Purpose of the Amendment:
  This Amendment No. 1 pertains to the General Terms and Conditions of Use of the MoMokash Agent Finance (AF) product, which is a derivative of the classic MoMoKash product.
  Therefore, this partnership agreement between the client and the CREDIX platform, the terms of which are contained and available online at the link https://credixcm.com/terms-and-conditions/, is modified by this Amendment as follows:
• Definition of MoMoKash Agent Finance (AF):
  Based on the same operational principle as the classic MoMoKash, MoMoKash Agent Finance is a technological solution that enables a consortium of banking and/or microfinance institutions to grant instant nano-loans remotely and by phone to any holder of an electronic wallet with an Operator and recognized by the Operator as an agent commonly referred to as a “coll box” or “Mobile Money point.”
  AF loans are exclusively intended for the Distributor Agents of MTN products (Air time and Mobile Money) initially identified and scored by MMC.
• Subscription to the AF Product:
  The subscription to the AF product costs 1,000 FCFA per year. It is done using the merchant SIM card number or the personal number, referring to the merchant SIM card.
• AF Loan Ceiling:
  The amounts for AF loans range between 500 and 100,000 FCFA and are non-cumulative.
• AF Service Fees:
  The service fee for the AF loan is 0.3% per day on the principal amount of the debt until the 30th day.
• AF Loan Duration:
  The duration of the Agent Finance loan is seven (7) days.
  On the eighth (8th) day of the AF loan, if the debt has not been fully settled, the platform will initiate forced collection through its auto-debit system on the lender’s number or any other number identified in the name of the beneficiary of the debt.
• Penalty:
  On the eighth (8th) day of the AF loan, if the client has not fully settled their debt, a penalty of 1,000 CFA will be added to the remaining amount of the debt.
  This penalty will increase by 1,000 FCFA each week (7 days) until the 30th day, at which point the case will be referred for forced collection to the experts.
• Procedure Fees with the Expert (Lawyer or Others):
  On the 30th day of the debt, the interest calculation stops, and the case is referred for pre-judicial or judicial collection.
  On the thirtieth (30th) day of the debt, if the client has not fully settled their debt, it will be increased by 20% to cover the procedure fees with the Lawyer or any other procedure deemed necessary by CREDIX CAM.
  The payment of procedure fees with the expert (Lawyer or others) is the responsibility of the client. To this effect, CREDIX and/or MMC will make their platform available to the collection agency for the receipt of these fees without any deductions.
• Integration:
  This Amendment forms an integral part of the partnership agreement available online at the link https://credixcm.com/terms-and-conditions/. The provisions that have not been amended remain applicable.

• PREAMBLE

These special conditions MOMOKASH GO Loan are in addition to the general conditions MOMOKASH classic still in effect for this service, as well as the customer path to be approved electronically through the short numbers *036# (or any other short number communicated for this purpose) by the subscriber of the product on the platform CREDIX.

All these contractual documents constitute the General Terms of Use (GTU) or End User License Agreement (EULA) governing the terms of interaction between the service provider and its users, who must comply with them.

Therefore and prior to any validation of these and other conditions of service MOMOKASH GO the user declares to have read and approved the general conditions MOMOKASH at the following URL: https://www.credixcm.com/ or via its mobile operator partner.

• PURPOSE OF THE MOMOKASH GO SERVICE

MOMOKASH GO is an instant digital nano-credit product based on the same operational principle as the classic MOMOKASH,with the difference that the loans are for pre-selected MTN Mobile Money Clients.

The targeted beneficiaries can thus access and refund their MOMOKASH GO loans, following the ATADAWAC principle (“Any Time, Any Device, Any Place, Any Content”), that is, from their cell phones, anywhere and anytime, without the need to go to the counter of a bank or a Micro Finance Institution.

The customer benefits from the service by dialing the short code *036# (or any other short number communicated for this purpose) to communicate with the platform and carry out his cancellation or refund operations with banks or Micro Finance Institutions (MFIs) of the MOMOKASH GO system.

• CREDIT LIMIT AND LOAN AMOUNT

The amount of the MOMOKASH GO loan is between 50 and 10 000 FCFA maximum, depending on the credit limit that MTN MMC grants to the customer.

The credit limit to the customer is calculated on the basis of a scoring model validated by MTN, CREDIX.CAM SA and the partner banks and EMFs without exceeding the maximum limit of 10 000 FCFA.

• DURATION OF LOAN

The maximum duration of the loan is 15 days, non-renewable, from the moment the lending bank or MFE actually transfers the loan amount to the beneficiary’s wallet.

However, it can be repaid before its maturity by the beneficiary.

• SERVICE SUBSCRIPTION

The subscription to the service is free and is effective when the beneficiary uses the MoMoKash Go loan deposited in his MTN MoMo account. However, the beneficiary can cancel at any time the loan received within 48 hours after receiving it, provided that he/she has not made use of it.

• SUBSCRIPTION FEES.

The subscription to the MOMOKASH GO service is free.

• LOAN VALIDATION

The MOMOKASH GO loan is deemed granted to the MTN MoMo customer when the lending MFE’s wallet is debited with the loan amount and successfully transferred to the beneficiary’s wallet and the beneficiary makes partial or full use of it within 48 hours. Otherwise, the loan is automatically cancelled.

• SERVICE FEES APPLICABLE ON THE MOMOKASH GO LOAN.

The MoMoKash Go loan is a 0% service charge loan.

• CANCELLATION OF A MOMOKASH GO LOAN.

The MoMoKash Go loan is automatically cancelled by self-debit 48 hours after its deposit in the beneficiary’s MoMo account in case of non-use.

The beneficiary may cancel the loan received at any time within 48 hours of receipt of the loan provided it has not been used by dialing the USSD code *036# (or any other short number provided for this purpose) by selecting the “cancel” menu option.

• REFUND.

To pay off their MOMOKASH Go debt, the beneficiary dials the USSD code *036# (or any other short number provided for this purpose) selects the “pay off” option from the menu, and then follows the various steps displayed to guide them.

The loan is deemed to be transferable as soon as it is placed in the beneficiary’s wallet and its partial or total use within 48 hours of its placement.

The debt to be repaid consists of the principal loan only.

If the beneficiary does not voluntarily repay his debt within 30 days, he hereby authorizes MMC and any other wallet holder in his name, to self-debit the amount of his debt, in order to credit the amount of the lending MME, without the need for any other prior procedure for this forced repayment.

The insolvency of the beneficiary is established after 30 days following the partial or total use of the loan.

Under these conditions, the beneficiary may be subject to legal proceedings in accordance with Law No. 2019/021 of 24 December 2019 to set out certain rules concerning credit activity in the banking and microfinance sectors in Cameroon.

The defaulting beneficiary agrees not to dispute with the host of his wallet, the amount of money that the MOMOKASH Go system claims:

Any dispute can only be made at the lending MFE or at its agent CREDIX.CAM SA, or in case of non-conciliation in the courts of Yaoundé and Douala.

The statements of insolvency are drawn up by CREDIX.CAM SA on behalf of the lending banks or EMFs, on the basis of a slip that it sends to the hosts of the defaulting Agent’s wallet to practice self-debits or any other existing sanction.