1. Acceptance of Terms

These Terms of Use ("Terms") constitute a legally binding agreement between you ("User", "you", "your") and Virtual Chelete (Pty) Ltd ("Virtual Chelete", "we", "our", "us") governing your access to and use of the Virtual Chelete mobile application, website, and related services (collectively, the "Platform").

By creating an account, accessing, or using the Platform, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree to these Terms, you must not use the Platform.

2. Eligibility

To use Virtual Chelete, you must:

• Be at least 18 years of age
• Be a legal resident of South Africa or have a valid South African bank account
• Have the legal capacity to enter into a binding contract
• Not be prohibited from using financial services under any applicable law
• Provide accurate and complete information during registration

Virtual Chelete reserves the right to verify your identity and eligibility at any time.

3. Account Registration

To access the Platform, you must create an account. You agree to:

• Provide accurate, current, and complete information during registration
• Maintain and promptly update your information to keep it accurate
• Keep your login credentials confidential and secure
• Notify us immediately of any unauthorized access to your account
• Accept responsibility for all activities that occur under your account

4. KYC and Identity Verification

In compliance with the Financial Intelligence Centre Act (FICA) and anti-money laundering regulations, Virtual Chelete is required to verify the identity of all users. You agree to:

• Provide valid South African identification documents (ID or passport)
• Submit proof of residential address where required
• Provide additional information or documentation as requested
• Consent to third-party identity verification checks

Failure to complete verification may result in restricted account functionality or account closure.

5. Digital Wallet Services

Virtual Chelete provides a digital wallet that allows you to:

• Store and manage funds in your wallet balance
• Send money to other Virtual Chelete users
• Add and manage bank cards
• Generate and scan QR codes for payments
• View transaction history and account statements
• Top up your wallet (when PayFast integration becomes available)

Funds held in your Virtual Chelete wallet are not insured by the South African Deposit Insurance Corporation (DIC) unless specifically stated otherwise.

6. Transactions and Payments

When using Virtual Chelete for transactions, you acknowledge and agree that:

• All transactions are final and irreversible once processed
• You must have sufficient funds in your wallet to complete transactions
• We may impose daily, weekly, or monthly transaction limits
• Transactions may be delayed or declined for security or compliance reasons
• We are not responsible for disputes between users regarding goods or services
• Chargebacks may be initiated only through your linked bank card provider

7. Fees and Charges

Virtual Chelete may charge fees for certain services. These fees will be disclosed to you before you complete a transaction. Current fee structure includes:

• Wallet-to-wallet transfers: Free (subject to change)
• QR code payments: Free
• Bank card linking: Free
• Top-up fees: As disclosed when top-up becomes available
• Inactivity fee: May apply after 12 months of account inactivity

Virtual Chelete reserves the right to modify fees with 30 days' notice.

8. QR Code Payments

The QR code feature allows you to make and receive payments by scanning codes. You agree that:

• You are responsible for verifying the recipient before scanning
• QR codes expire after a certain period for security purposes
• We are not liable for payments made to incorrect recipients
• You will not use QR codes for illegal activities

9. Prohibited Activities

You agree not to use the Platform for any unlawful or prohibited purposes, including but not limited to:

• Money laundering or terrorist financing
• Fraudulent transactions or identity theft
• Gambling or gaming activities where prohibited
• Purchase or sale of illegal goods or services
• Circumventing any transaction limits or security measures
• Attempting to reverse engineered or hack the Platform
• Creating multiple accounts or impersonating others

10. Security and Liability

You are responsible for maintaining the security of your account. You agree to:

• Use strong, unique passwords
• Enable multi-factor authentication where available
• Not share your account credentials with anyone
• Report any suspicious activity immediately
• Log out after each session on shared devices

Virtual Chelete is not liable for any unauthorized transactions resulting from compromised account credentials if you fail to exercise reasonable care.

11. Intellectual Property

All content, trademarks, logos, and intellectual property on the Platform are owned by Virtual Chelete or its licensors. You may not:

• Copy, modify, or distribute any content without permission
• Use our trademarks or branding without written consent
• Reverse engineer any part of the Platform

12. Suspension and Termination

Virtual Chelete may suspend or terminate your account at any time for any reason, including but not limited to:

• Violation of these Terms
• Suspected fraudulent or illegal activity
• Failure to complete KYC verification
• Inactivity for 12 months or more
• At our sole discretion

Upon termination, any remaining funds will be returned to you after verification, subject to applicable fees and legal holds.

13. Limitation of Liability

To the maximum extent permitted by South African law, Virtual Chelete shall not be liable for:

• Any indirect, incidental, or consequential damages
• Loss of profits, data, or business opportunities
• Unauthorized access to your account due to your negligence
• Delays or failures caused by circumstances beyond our control

Our total liability shall not exceed the amount of fees paid by you in the 12 months preceding the claim.

14. Dispute Resolution

Any dispute arising from these Terms or your use of the Platform shall be resolved as follows:

• Informal Resolution: You agree to contact us at support@virtualchelete.co.za to resolve disputes informally before pursuing legal action
• Arbitration: If informal resolution fails, disputes shall be resolved through binding arbitration in Cape Town, South Africa, in accordance with the Arbitration Act No. 42 of 1965
• Small Claims: You may bring claims in the Small Claims Court in your jurisdiction
• Class Action Waiver: You agree to bring disputes only in your individual capacity, not as a class action

15. Amendments

Virtual Chelete reserves the right to modify these Terms at any time. We will notify you of material changes via:

• Email to your registered address
• In-app notification
• Posting on our website

Continued use of the Platform after changes constitutes acceptance of the modified Terms.

16. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Republic of South Africa, without regard to its conflict of law provisions. The courts of South Africa shall have exclusive jurisdiction over any matters arising from these Terms.

---