Terms and Conditions - myPence Limited
1. INTRODUCTION
Welcome to myPence Limited (“we,” “us,” or “our”). These Terms and Conditions (“Terms”) govern your use of our services, mobile application, and website (collectively referred to as “Platform”). By signing up, accessing, or using any of our services, you agree to comply with and be bound by these Terms. Please read them carefully before registering. If you do not agree with these Terms, you must not register or use our services.
2. DEFINITIONS
- Client/User
- Any individual or entity who signs up or uses myPence’s platform or services.
- Platform
- myPence’s website, mobile application, or any related digital service.
- Merchant/Partner
- Authorised vendors and suppliers affiliated with myPence.
- Hire Purchase
- A contractual agreement under which the client purchases an item through instalment payments over a specified period.
- Agreement
- The contractual relationship between myPence Limited and the client, governed by these Terms.
3. ELIGIBILITY
To register and use our services, you must:
- Be at least 18 years of age.
- Be a Ghanaian citizen or a resident with verifiable identification.
- Be a government worker or an employee eligible under the Controller and Accountant General’s payroll (where applicable).
- Provide accurate, current, and complete information during registration.
myPence reserves the right to verify all submitted information and decline registration if eligibility criteria are not met.
4. REGISTRATION AND ACCOUNT SECURITY
- You agree to create an account using your full legal name, valid email address, and any other information requested.
- You are responsible for maintaining the confidentiality of your account credentials.
- You agree to immediately notify myPence of any unauthorized use or breach of security.
- myPence shall not be liable for any loss arising from unauthorized access caused by your negligence.
5. SERVICES PROVIDED
myPence Limited provides a hire purchase platform allowing clients to:
- Purchase approved goods and services from partner merchants (e.g., Samsung, Hi-Sense, Melcom, etc.).
- Pay in instalments over an agreed period.
- Manage payments and balances through the myPence Mobile App or Web App.
All purchases are subject to credit assessment and approval.
6. PAYMENT TERMS
- Payment shall be made in monthly instalments as specified in your hire purchase agreement.
- Instalments are automatically deducted from your monthly salary or as agreed upon.
- Late payments may attract a penalty fee as stated in your hire purchase contract.
- myPence reserves the right to suspend or terminate your access for default in payment.
- Ownership of goods remains with myPence Limited until full payment is made.
7. CREDIT ASSESSMENT AND APPROVAL
- All clients are subject to a credit assessment process.
- Approval is based on employment verification, income stability, and repayment history.
- myPence reserves the right to reject any application without obligation to provide reasons.
8. DELIVERY AND OWNERSHIP OF GOODS
- Goods will be delivered or made available after initial approval and signing of the hire purchase agreement.
- Ownership transfers to the client only after full payment of all instalments.
- myPence retains the right to repossess goods in cases of default or breach of agreement.
9. CLIENT RESPONSIBILITIES
By using our platform, you agree to:
- Provide accurate personal and employment information.
- Promptly update any change in contact or employment details.
- Make timely payments as per the agreed schedule.
- Use purchased goods responsibly and not resell or transfer ownership before full payment.
10. FEES AND CHARGES
- Registration may be free or subject to a nominal processing fee.
- Late payment, default, or administrative charges may apply.
- All fees are clearly communicated prior to the client’s consent.
11. DATA PRIVACY AND PROTECTION
- myPence values your privacy.
- All personal information provided will be used solely for verification, credit assessment, and service delivery.
- Your information will not be shared with third parties without your consent, except as required by law.
- By signing up, you consent to our Privacy Policy, available on our website.
12. TERMINATION OF ACCOUNT
myPence may suspend or terminate your account if you:
- Breach any term of this agreement.
- Provide false or misleading information.
- Default on payments.
- Engage in fraudulent or unlawful activity.
Upon termination, all outstanding balances become immediately due.
13. LIMITATION OF LIABILITY
myPence shall not be liable for:
- Any indirect, incidental, or consequential damages.
- Delays or delivery failures beyond our control.
- Unauthorized use of your account due to negligence.
Our total liability under this agreement shall not exceed the total fees paid by the client within the preceding 6 months.
14. INTELLECTUAL PROPERTY
All content, logos, designs, and trademarks on the myPence platform remain the exclusive property of myPence Limited. Unauthorised reproduction or distribution is strictly prohibited.
15. COMMUNICATION
- By signing up, you agree to receive transactional messages, promotional emails, and notifications from myPence.
- You may opt out of promotional communications at any time.
16. AMENDMENTS TO TERMS
- myPence reserves the right to amend or update these Terms at any time.
- Any changes will be communicated via the platform or email, and continued use constitutes acceptance of the revised Terms.
17. GOVERNING LAW
These Terms shall be governed by and construed in accordance with the laws of the Republic of Ghana. Any disputes arising shall be subject to the jurisdiction of the courts of Ghana.
18. CONTACT INFORMATION
For inquiries, complaints, or support, contact us at:
19. CLIENT CONSENT
By clicking “I Agree” or signing below, you confirm that:
- You have read, understood, and accepted these Terms and Conditions.
- You consent to the collection and processing of your data for the stated purposes.
- You agree to comply fully with all policies and obligations under this Agreement.
