Terms and Conditions

1. Definitions

In these Terms, unless the context indicates otherwise:

• “BudgetPay, we, us, or our” — means BudgetPay (Pty) Ltd, registration number [INSERT], a company registered in the Republic of South Africa.
• “Customer or you” — means any natural person who registers for and uses the Platform to view outstanding debts, set up payment plans, and make payments.
• “Vendor” — means any business, organisation, or entity that registers on the Platform to receive payments from Customers for goods, services, or outstanding accounts.
• “Platform” — means the BudgetPay website (budgetpay.co.za), mobile application, and all related services, APIs, and tools.
• “Wallet” — means the digital wallet feature on the Platform that allows Customers to store funds for the purpose of making payments to Vendors.
• “Payment Plan” — means a structured arrangement through the Platform by which a Customer agrees to pay an outstanding balance to a Vendor in instalments over a defined period.
• “Debit Order” — means an authorised recurring payment instruction, including DebiCheck-authenticated mandates, through which BudgetPay collects Payment Plan instalments from a Customer's bank account.
• “Commission” — means the fee charged by BudgetPay to Vendors for payment facilitation services, expressed as a percentage of each successful payment collected.
• “SA ID” — means a South African Identity Number as issued by the Department of Home Affairs.
• “NCA” — means the National Credit Act 34 of 2005.
• “POPIA” — means the Protection of Personal Information Act 4 of 2013.

2. About BudgetPay

2.1 What BudgetPay Does

BudgetPay is a payment facilitation platform that connects Customers who have outstanding accounts with Vendors who are owed money. The Platform enables Customers to:

• View their outstanding debts and account balances with participating Vendors;
• Set up structured payment plans to pay off debts in affordable instalments;
• Make payments via debit order, wallet, or direct payment; and
• Track their payment history and progress.

The Platform enables Vendors to:

• Register and onboard their business;
• Upload or connect customer billing data;
• Receive payments collected by BudgetPay;
• Monitor payment status and settlements through a dashboard.

2.2 What BudgetPay Does Not Do

BudgetPay is a payment facilitation and technology platform. BudgetPay is not:

• A bank, deposit-taking institution, or financial services provider as defined under the Banks Act 94 of 1990;
• A credit provider as defined under the NCA (BudgetPay does not advance credit, lend money, or charge interest on its own behalf);
• A debt collector as defined under the Debt Collectors Act 114 of 1998;
• A financial advisor as defined under the Financial Advisory and Intermediary Services Act 37 of 2002;
• A credit bureau as defined under the NCA.

3. Eligibility and Registration

3.1 Customer Eligibility

To register as a Customer, you must:

• Be a natural person aged 18 years or older;
• Be a South African citizen or permanent resident with a valid SA ID number, or a foreign national with a valid passport and South African work/residence permit;
• Have a valid South African bank account in your own name;
• Have a valid email address and South African mobile phone number; and
• Have the legal capacity to enter into binding agreements.

3.2 Vendor Eligibility

To register as a Vendor, you must:

• Be a registered South African business entity (company, close corporation, sole proprietor, or non-profit organisation);
• Have a valid CIPC registration number (where applicable);
• Have a valid South African business bank account;
• Comply with all applicable laws and regulations governing your industry;
• Provide all required registration documents, including proof of business registration, tax number, and director identification.

3.3 Registration and Verification

Upon registration, you agree to:

• Provide accurate, complete, and current information;
• Complete any identity verification (KYC) process required by BudgetPay;
• Keep your registration information updated at all times;
• Not create multiple accounts or register under a false identity.

BudgetPay reserves the right to refuse registration, suspend, or terminate any account at its discretion if it reasonably believes that the information provided is inaccurate, incomplete, or fraudulent, or that the account is being used in violation of these Terms or applicable law.

4. Payment Plans

4.1 How Payment Plans Work

When you set up a Payment Plan through the Platform:

1. You select an outstanding debt owed to a participating Vendor.
2. You choose a payment plan duration (available options may range from 3 to 36 months).
3. You authorise a recurring Debit Order from your bank account for the monthly instalment amount.
4. BudgetPay collects the instalment each month and remits payment to the Vendor, less BudgetPay's Commission.

4.2 Interest and Fees

Payment Plans may include a service fee or interest component. Where interest is charged, the interest rate will be clearly disclosed to you before you confirm the Payment Plan. Interest rates comply with the maximum rates prescribed by the NCA.

4.3 Payment Plan Confirmation

By confirming a Payment Plan, you acknowledge the total amount payable, authorise Debit Order collection, and understand the plan is a binding commitment.

4.4 Early Settlement

You may settle a Payment Plan early at any time by paying the outstanding balance in full. No early settlement penalty will be charged.

4.5 Missed and Late Payments

If a Debit Order fails or a payment is missed:

• BudgetPay will notify you by email and/or SMS;
• BudgetPay will retry the Debit Order within 3 business days;
• Persistent non-payment may result in cancellation of the Payment Plan.

BudgetPay does not report Customer payment behaviour to credit bureaus. However, Vendors may independently report unpaid accounts to credit bureaus in accordance with their own policies and the NCA.

4.6 Cancellation of Payment Plans

You may request cancellation by contacting support@budgetpay.co.za. Payments already collected are non-refundable as they have already been remitted to the Vendor. The outstanding balance reverts to the Vendor and you remain liable under the original debt agreement.

5. Wallet

5.1 Wallet Functionality

The BudgetPay Wallet allows you to top up funds, use them to pay outstanding debts, and view your balance and transaction history.

5.2 Wallet Funds

Wallet funds are held in a designated trust or escrow account for the sole purpose of facilitating payments to Vendors. Wallet funds do not earn interest, are not insured by any deposit insurance scheme, and may only be used for payments on the Platform.

5.3 Wallet Withdrawals

You may request a withdrawal of available Wallet funds to your verified bank account. BudgetPay reserves the right to verify your identity before processing any withdrawal.

5.4 Regulatory Status of Wallet

BudgetPay is consulting with the South African Reserve Bank regarding the regulatory classification of the Wallet feature. If required, BudgetPay will obtain the required licence or modify the Wallet feature accordingly.

6. Debit Orders

6.1 Authorisation

By setting up a Payment Plan or Debit Order, you authorise BudgetPay and its payment service provider (Paystack) to debit your bank account for the agreed instalment amount on the agreed date each month.

6.2 DebiCheck Mandates

Where applicable, BudgetPay will submit a DebiCheck mandate to your bank for electronic authentication. You will receive a mandate request from your bank (via your banking app, USSD, or SMS) which you must approve.

6.3 Disputes and Reversals

If you believe a Debit Order was incorrectly processed, contact support@budgetpay.co.za within 40 days of the debit. BudgetPay will investigate and, if the debit was made in error, will process a refund within 10 business days.

7. Fees and Commissions

7.1 Customer Fees

All fees are inclusive of VAT where applicable.

7.2 Vendor Commissions

Vendors pay BudgetPay a commission on each successful payment collected from Customers. The commission rate is agreed during onboarding, is deducted from the payment before settlement to the Vendor, and varies by category as set out in the Vendor Agreement.

8. Vendor Responsibilities

By registering as a Vendor, you agree to:

• Provide accurate and up-to-date customer billing data;
• Ensure that listed debts are valid, outstanding, and not subject to any legal dispute;
• Not upload or present fraudulent, inflated, or disputed debts;
• Comply with all applicable laws including the NCA, Consumer Protection Act, and POPIA;
• Notify BudgetPay immediately if a Customer's debt is settled outside the Platform, disputed, or subject to legal proceedings.

9. Customer Responsibilities

By using the Platform, you agree to:

• Provide accurate and truthful information during registration;
• Not use the Platform for any unlawful purpose;
• Ensure sufficient funds are available on Debit Order dates;
• Notify BudgetPay immediately if you change your bank account or contact details;
• Not attempt to gain unauthorised access to the Platform or other users' accounts;
• Not reverse or dispute legitimately authorised Debit Orders without first contacting BudgetPay.

10. Intellectual Property

All content on the Platform — including text, graphics, logos, icons, images, software, and the underlying code — is the property of BudgetPay or its licensors and is protected by South African and international intellectual property laws. You may not reproduce, distribute, modify, or commercially exploit any content from the Platform without BudgetPay's prior written consent.

11. Limitation of Liability

11.1 Platform Availability

BudgetPay will use reasonable efforts to maintain platform availability but does not guarantee uninterrupted or error-free operation.

11.2 Accuracy of Debt Information

BudgetPay displays debt information as provided by Vendors and third-party sources. We do not guarantee its accuracy, completeness, or timeliness. If you believe any information is incorrect, please contact the relevant Vendor directly.

11.3 Limitation

To the maximum extent permitted by South African law, BudgetPay's total liability shall not exceed the total fees paid by you in the 12 months preceding the claim. BudgetPay shall not be liable for any indirect, incidental, or consequential damages.

11.4 Consumer Protection

Nothing in these Terms limits your rights under the Consumer Protection Act 68 of 2008, POPIA, or any other applicable South African consumer protection legislation.

12. Dispute Resolution

12.1 Complaints

Contact us at support@budgetpay.co.za with subject “Complaint — [Brief Description]”. We will acknowledge within 2 business days and resolve within 10 business days.

12.2 Escalation

If not resolved to your satisfaction, you may escalate to:

• The National Consumer Commission (Consumer Protection Act matters)
• The Information Regulator (POPIA/privacy matters)
• The National Credit Regulator (NCA/credit matters)

12.3 Governing Law

These Terms are governed by the laws of the Republic of South Africa. Any unresolved dispute shall be subject to the exclusive jurisdiction of the Magistrate's Court or High Court of the Republic of South Africa.

13. Suspension and Termination

13.1 By BudgetPay

BudgetPay may suspend or terminate your account immediately if you breach these Terms, we reasonably suspect fraud or illegal activity, you provide false information, or a regulatory authority orders us to do so.

13.2 By You

You may close your account at any time by contacting support@budgetpay.co.za or using the account closure feature in settings. All active Payment Plans must be settled or cancelled first, and any remaining Wallet balance will be returned to your verified bank account.

14. Privacy

Your personal information is processed in accordance with our Privacy Policy, which forms part of these Terms. By using the Platform, you consent to the processing of your personal information as described in the Privacy Policy.

15. Electronic Communications

By registering on the Platform, you consent to receiving electronic communications from BudgetPay including transactional notifications, account alerts, service updates, and marketing communications (only if opted in). These communications satisfy any legal requirement that communications be “in writing” as contemplated by ECTA.

16. Force Majeure

BudgetPay shall not be liable for any failure or delay in performing its obligations under these Terms resulting from circumstances beyond its reasonable control, including natural disasters, power outages, internet disruptions, pandemics, government actions, or failures of third-party service providers.

17. Severability

If any provision of these Terms is found to be invalid or unenforceable, that provision shall be severed and the remaining provisions shall continue in full force and effect.

18. Entire Agreement

These Terms, together with the Privacy Policy, the fee schedule, and any Vendor Agreement, constitute the entire agreement between you and BudgetPay regarding the use of the Platform.

19. Amendments

BudgetPay may amend these Terms from time to time. We will notify you by email or through the Platform at least 14 days before material changes take effect. Continued use of the Platform after the effective date constitutes acceptance of the amended Terms.

20. Contact Information