MUSTANG FINANCIAL (PTY) LTD
USER TERMS AND CONDITIONS


Revision History:
Version      Changes              Date Modified           Date Approval
1.0           First Version         17 October 2024



Approvals:
Document Owner: Mustang Financial (Pty) Ltd – Compliance Department
Approved By: 


• Application of the General Terms and Conditions
These General Terms and Conditions ("General Terms and Conditions") form an integral part of the Agreement regarding the payment services provided by the Third-Party Payment Platform (TPPP) to the User. These General Terms and Conditions shall apply unless otherwise agreed in writing between the User and the TPPP. The Agreement will come into effect when the User initiates a transaction using the TPPP for payment processing on a merchant's platform.


• Definitions
The following definitions shall apply to these General Terms and Conditions:
Agreement refers to the terms governing the use of the TPPP’s services by the User.
User means the individual who purchases goods or services from a merchant and uses the TPPP to process payments.
Merchant refers to the seller of goods or services with whom the User is transacting, and who uses the TPPP to process payments.
TPPP refers to the Third-Party Payment Platform that facilitates the payment processing between the User and the Merchant.
Personal Data refers to any information about the User that is collected during the payment process, including payment information and transaction details and is regulated by the Protection of Personal Information Act No. 4 of 2013 (POPIA) as amended. 


• General Obligations of the User
The User is responsible for ensuring that they provide accurate and complete payment information when using the TPPP for online purchases. The User is required to review and agree to the Merchant's terms and conditions to be read in conjunction with the Master Terms of Service Agreement for the goods or services being purchased before initiating a payment. The User must ensure that sufficient funds or credit limits are available in their chosen payment method to complete the transaction. The User must promptly notify the TPPP and the Merchant of any unauthorized or suspicious transactions. The User is responsible for any fees or charges imposed by their financial institution for the use of the payment services. The User must comply with all relevant laws and regulations of the Republic of South Africa when using the TPPP to complete transactions and must refrain from any illegal activity. 

• General Obligations of the TPPP
The TPPP will process payment transactions initiated by the User on the Merchant’s platform, facilitating the transfer of funds from the User’s payment method to the Merchant. The TPPP is responsible for maintaining the security and confidentiality of the User’s payment information in accordance with applicable data protection laws and regulations.
The TPPP will ensure that all payment processing complies with relevant security standards, including the Payment Card Industry Data Security Standard (PCIDSS). The TPPP will make reasonable efforts to ensure that the service is available 24 hours a day, with the aim of 99.5% service availability, excluding maintenance periods or other justified downtime. The TPPP is not responsible for any issues related to the delivery of goods or services purchased from the Merchant, as its role is limited to processing the payment. The TPPP will provide support services to the User in relation to payment processing issues but is not responsible for resolving disputes between the User and the Merchant.

• Payment Transactions
The User authorizes the TPPP to process payments for goods or services purchased from the Merchant. Once the User submits payment details and authorizes the transaction, the TPPP will initiate the transfer of funds to the Merchant’s designated account. The User acknowledges that the TPPP merely facilitates the payment and does not guarantee the delivery or quality of the goods or services purchased from the Merchant. Refunds, chargebacks, or any payment reversals are subject to the Merchant’s policies, and the User must contact the Merchant directly to resolve such issues. The User acknowledges that the TPPP may take reasonable steps to prevent fraud or unauthorized transactions, which may include transaction monitoring or temporary suspension of suspicious transactions.

• Fees and Charges
The User may be subject to fees for the use of certain payment methods or services offered by the TPPP, which will be disclosed to the User prior to completing the transaction. The User’s financial institution may also charge fees for transactions processed through the TPPP, and these fees are the User’s responsibility. The TPPP will not charge the User directly for the service unless specified otherwise, as fees are generally borne by the Merchant.

• Security and Data Protection
The TPPP will take appropriate technical and organizational measures to protect the User’s payment data against unauthorized access, loss, or damage. The TPPP will only collect, store, and process the User’s personal data to the extent necessary to facilitate the payment transaction, in accordance with POPIA. The User agrees that their personal data may be shared with the Merchant and other necessary third parties to complete the payment process. The TPPP will not sell or disclose the User’s personal data to any third party, except where required by law or where necessary to complete the payment transaction.

• Limitation of Liability
The TPPP is not responsible for any delays, failures, or errors in processing payments caused by factors outside its reasonable control, such as technical issues, network failures, data breaches or leaks, or actions taken by the Use. The TPPP’s liability to the User is limited to the amount of the transaction processed on behalf of the User. The TPPP accepts no liability for any disputes between the User and the Merchant regarding the delivery, quality, or condition of goods or services purchased. The User agrees to indemnify and hold the TPPP harmless from any claims, losses, or damages arising from their use of the TPPP’s services, except where such claims or damages are directly caused by the TPPP’s gross negligence or wilful misconduct.

• Term and Termination
The Agreement between the User and the TPPP is effective for the duration of the payment transaction initiated by the User. The User may stop using the TPPP at any time by discontinuing purchases from Merchants who use the TPPP for payment processing. The TPPP reserves the right to suspend or terminate the User’s ability to use the service in the event of suspected fraud, unauthorized transactions, or any breach of these General Terms and Conditions by the User.

• Governing Law
These General Terms and Conditions are governed by the laws of The Republic of South Africa, and any disputes arising from the use of the service shall be subject to the jurisdiction of the courts in South Africa.