These Terms of Use constitute an electronic financial service and end user license agreement, and by registering for or using any portion of the Mkopo Wallet service (“Service”), You acknowledge that You have read, understood and agree to these Terms of Use and will be bound by them. If You do not agree to be bound by these Terms of Use, You may not access or use any portion of the Service. These Terms of Use constitute a legally binding agreement between You, as an individual user (“You” or “Your”) and Ip Impulsando tu Progreso, S.A.P.I. de C.V. SOFOM E.N.R. / Mkopo Wallet (“We” or “Us”).
You may not use the Services if you do not agree to these Terms. By using any part of the Services you agree to these Terms. If you are under eighteen (18) years of age, you may not use the Services.
Our Privacy Policy governing the Services is attached to and incorporated into these terms ("Privacy Policy"). By accepting these terms and conditions and using the Services, you consent to and authorize the collection and use of personal information in accordance with the Privacy Policy.
You agree to provide true, accurate and complete information about yourself ("Account Data") when requested, and you confirm that you have full authority to provide the Account Data, particularly with respect to the person you provide as your contact information. You agree to fully indemnify us and make We fully liable. You also agree to update the Account Data to keep it current.
You are responsible for maintaining the confidentiality of your password and account. In addition, you are responsible for any and all activities that occur through the use of your account or password. You agree to notify us immediately of any unauthorized use of your account or any breach of security. Use of your account by you and/or any third party will be deemed an authorized transaction and we hereby indemnify and hold harmless any claims related to unauthorized use of your account.
You hereby authorize us to review your information as we deem appropriate. You further authorize us to share your account data and personal information with verification vendors, information vendors, and other parties working on behalf of Mkopo Wallet to verify information about you, including but not limited to eligibility, authorization, employer background checks, employment verification, criminal record checks, driver’s license verification, passport verification, identity verification, and any other personal information required to verify and verify your information. You understand and agree that your consent information will be used at all times for all existing and future personal requests and verification, investigation, and verification of information about you.
Loan fees are calculated based on the loan amount and loan term. The details are as follows:
The interest is calculated at an annual interest rate of 10.95%, and the formula is as follows: Interest expense = (annual interest rate ÷ 365) × loan term (days) × loan amount
For example, if the loan amount is 100,000 and the term is 210 days, the interest expense is: (10.95% ÷ 365) × 210 × 100,000 = 6,300
Additional service fees depend on the term of your loan and your credit score. These fees reflect your financial integrity and the term of the loan.
The total fees that a consumer is required to pay are the total of interest fees and service fees.
You will see all fees clearly displayed on the page after reviewing your creditworthiness and before borrowing a loan.
We are committed to providing transparent and fair methods of calculating fees to ensure that every consumer fully understands their repayment obligations.
You must repay the loan by the date specified when you received the loan ("payment date"). Make sure you repay the loan and interest by the due date. If you do not do so, we will, at our discretion, charge your loan an additional fee of two percent (2%) ("Late Term Fee") per day. You must repay the loan amount, interest and any refund fees before the payment is due.
We are committed to providing transparent and fair methods of calculating fees to ensure that each user fully understands their repayment obligations.
If you have not paid the loan amount and fees within 30 days, you will be in default. After you have failed to pay your loan amount, we may report this to a credit reference agency, and such reporting may affect your ability to borrow money in the future. You will be liable for any applicable fees that we or our suppliers may incur in collecting payment in accordance with applicable law. The overdue amount will be rounded up to the nearest whole Tanzanian shilling.
After the account registration process, you may have the opportunity to apply for a loan of a certain amount. We reserve the right to decline a loan application for any reason. However, if we accept your application and grant you a loan, we will charge you a fee that you must pay along with the repayment of the amount you borrow ("interest"). The interest payable is stated along with the loan amount when you apply for each loan. The loan will be deposited into your Mkopo Wallet account after deducting applicable interest.
You expressly agree that, as part of the Services, you may, from time to time, receive communications from us via text message (SMS) or email, including our newsletters or other information about the Services. You may opt out of receiving promotional messages by following the opt-out instructions in such messages. Even if you opt out of receiving promotional messages, you cannot opt out of receiving service-related messages. You also expressly authorize us to contact your next of kin to verify your information, when we are unable to contact you or when we have not received payment from you. You confirm that your next of kin has consented to share their information with us and for us to contact them regarding your use of the Services.
We grant you a limited, non-transferable, personal right and license to use the Services and any related software that the Services may provide. You may not copy, disassemble, reverse engineer, disassemble, attempt to derive the source code of the software, modify or create derivative works from the software (except only to the extent that applicable law prohibits any of the foregoing restrictions or restricts any to the extent permitted by the license terms for the use of open source components).
We may, in our sole discretion and at any time, terminate your access to the Service or discontinue the provision of the Service or any portion of the Service, with or without notice. You agree that we have no obligation or liability to you or anyone else to modify or terminate the Service, or to suspend your access to the Service.
IN NO EVENT WILL WE OR OUR SERVICE PROVIDERS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES OR DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, DATA OR PROFITS, in any way arising out of or in connection with the use or performance of the Services, delay in or inability to use the Services, provision of or failure to provide the Services, or any credit available through the Services, or in any way arising out of the use of the Services, whether based on contract, tort, negligence, strict liability or otherwise, even if the application and game or any of its suppliers have been advised of the possibility of such damages.
The Services are provided "as is" without warranty of any kind. WE AND OUR SERVICE PROVIDERS DISCLAIM ALL WARRANTIES RELATED TO THE SERVICES, INCLUDING ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT. If you are dissatisfied with any portion of the Services or these terms and conditions, your sole remedy is to discontinue use of the Services.
Any dispute relating to the interpretation, validity or enforcement of this Agreement which cannot be resolved by mutual agreement between the parties shall be submitted to arbitration in the English language by a sole arbitrator having his seat in Dar es Salaam, Tanzania. The arbitration shall be conducted in accordance with the Arbitration Rules of the Institute of Certified Arbitrators. The arbitration award shall be final and binding on the parties and may be entered into in an order of the court. For this purpose, the parties unconditionally consent to and submit to the jurisdiction of the High Court of Dar es Salaam, Tanzania.
If any court of competent jurisdiction finds any provision of this Agreement (excluding only those provisions that are legally necessary to form a valid and binding agreement) to be invalid and/or unenforceable, such invalidity and/or unenforceability, the remaining provisions of this Agreement shall remain in full force and effect.
These terms may be changed at any time in the future without notice. Changes will be posted at https://mkopo-wallet.com/MW-Privacy.html or its successor URL. It is your responsibility to keep yourself informed of any changes as you are bound by the most recent version of the terms and conditions.