Part 1: This Agreement

1.1 Introduction

When you apply for a DigMo account you agree to the terms and conditions (“terms”) contained within this document. The terms form a legal agreement between You and Inclusive Money Technology Limited (“Inclusive Tech”, “we”, “us”, or “the Company”). The terms govern your use of the DigMo account and service, the associated use of the website and/or apps and any related services provided by Inclusive Money Technology Limited.

DigMo is operated by Inclusive Money Technology Limited (“Inclusive Tech” or “the Company”), a private limited entity incorporated in Zambia (Company Registration No 120230060434). Registered at PACRA, Lusaka, Zambia.

1.2 Contact Digmo

You can contact Digmo using the below contact details:

1. Phone MTN: +260 762909028
2. Phone Airtel: +260 979157684
3. Email: support@digmo.co.zm
4. WhatsApp: +260 762909028

Digmo Customer Support is 7am to 11pm, Monday to Friday  

1.3 About Digmo

DigMo is an online money account which issues and redeems electronic money. We are authorised to issue you with e-money under the supervision of the Bank of Zambia (“BoZ”) DigMo is not a mobile money (MoMo) service and can only be accessed through the DigMo app at app.DigMo.zm.

1.4 Overview of Terms and Conditions

The terms and conditions include a number of parts which form the overall document. When you apply for a DigMo account you agree to all parts of these terms which are listed below:

1. DigMo service;
2. DigMo application;
3. Privacy notice which is provided separately.

This agreement is written in English as an official language of Zambia, and all communications between you and us shall be in English only during the sandbox period.

The terms are governed by the laws of Zambia and any legal action shall be taken in a competent court within the jurisdiction of Zambia.

1.5 Definitions

“Consumer” or “Customer”: a user who has applied for a Digmo account for their own purposes. This includes users who have an e-money account with zero balance and those who may not have an e-money account.

“Electronic money” or “e-money”: electronically stored monetary value as represented by a claim against us which is issued against the receipt of an approved currency and can be used as a means of payment for a payment transaction with another party.

‍“Digmo account” or “e-money account”: an account held with us, the e-money issuer, for the purpose of conducting e-money transactions.

“E-money issuer”: a financial institution who is authorised or licenced to issue e-money by the Bank of Zambia, under the regulations governing payment service providers.

“Approved Bank”: a deposit-taking financial institution including a bank or a microfinance institution who are authorised to collect deposits from the public.

“Payment account”: an account which permits debits and credits, opened by a customer or entity with a payment service provider.

“Payment transaction”: a transfer of funds between, into or from a payment account.

“Savings account”: an account with the purpose of holding money, which only permits transactions between your Digmo account, which may offer additional benefits based on the savings balance such as interest or lottery bonds.

“Lottery bonds”: a type of asset-backed security which provides returns through awarding prizes to customers, allowing for a smaller number of accounts to receive a higher return through a random draw.

“Trust account”: a separate account segregated from our own funds held with an approved bank in which we are required to deposit all funds collected from e-money account holders.

“Payment account”: an account which permits debits and credits, opened by a customer or entity with a payment service provider.

“Payment transaction”: a transfer of funds between, into or from a payment account.

“Payment partner”: a company holding a merchant account and agreement with Digmo which allows us to process payments on their behalf.

1.6 General

We reserve the right to amend these terms and conditions, transaction fees and limits at any time and without notice. Any amendments will be communicated to you through the DigMo app and our website.

Where there is a material change to these written terms which is to your detriment, we shall provide you with 30 days’ notice before the change comes into effect, except where the change is required by law. You may terminate your account without notice before accepting the updated terms. Your continued use of the DigMo service after 30 days will indicate your acceptance.

1.7 Confidentiality

We will treat all your personal information as private and confidential (even when you are no longer a customer). Nothing about your accounts nor your name and address will be disclosed to anyone, other than in four exceptional circumstances permitted by law.

These are:

1. Where we are legally compelled to do so;
2. Where it is in the public interest to disclose;
3. Where our interests require disclosure;
4. Where disclosure is made at your request or with your written consent.

Part 2: Digmo account

2.1 Opening a Digmo Account

You need to be at least 18 years old and live in Zambia to open an account. We will need to check your identity to open your account.

1. The DigMo account is a personal account available to customers, aged 18 or over, and a resident of Zambia. You can apply for a DigMo account solely by an application made using the DigMo app.

2. When applying for a DigMo account we are required to identify you and apply due diligence checks known as Know Your Customer (“KYC”). We will use and store the information you provide to verify your identity using independent sources which may include information held by your Telecom provider and the National Registration Office.

3. If your application is successful, we will open your DigMo account and send you confirmation through the DigMo app.

2.2 Using Your Digmo Account

You can access DigMo through our app which lets you send and receive money by MoMo, through one of our partners and to our savings account.

1. Your DigMo account is only available through the DigMo app. We do not offer the option to access or manage your account in any other way, including by telephone or in-person.
   

2. The balance of your DigMo account is in Kwacha (ZMW) and paymenttransactions on your account will be conducted in this local currency.
   

3. The DigMo account supports the following features:some text
   • Payments to or from your mobile money account linked to your registered mobile number.
   • Payments to or from a third-party who holds a supported payment account held with a Zambian Mobile Network Operator (MNO).
   • Payments to or from selected merchants who have partnered with DigMo.
   • Deposits and withdrawals to your own DigMo savings account
     

4. To transfer funds to your DigMo account, you must log into the DigMo app and follow the instructions provided to initiate a payment.
   
5. When we receive money from you or on your behalf, this money will be held by us in the relevant Trust Account in exchange for e-money that we issue to you.

6. When we receive an instruction from you to make a payment from your DigMo account we will redeem e-money in your account to execute the payment transaction.

7. Where a transaction fails or is reversed, we will cancel the relevant issuance or redemption of e-money.

2.3 Closing Your Digmo Account

Contact us to close your account. If we need to close your account, we will usually give you 30 days’ notice.

1. These terms are valid until the closure of the sandbox period or until the agreement is terminated by you or us.
2. You may terminate this agreement by contacting us and requesting that we close your account. We will close your account after 30 days from receiving your request unless otherwise agreed.
3. We may terminate your agreement for any reason by giving you 30 days written notice; however, we reserve the right to terminate your agreement immediately where you are in breach of this agreement or where it is necessary to comply with a legal obligation.

2.4 Know Your Customer

We need to know who you are and confirm it is you.

1. We are required to verify your identity before we can open your Digmo account. This helps us to protect your money from others who may have malicious intentions.
2. We require the following information to open an account:some text
   • Full legal name
   • Your image (live photo)
   • Mobile telephone number
   • Date of birth
   • Taxpayers Identification Number (TPIN)
   • Residential address
   • Copy of a valid Zambia National Registration Card (NRC) or Passport

3. We may also require further information from you to complete our KYC requirements during your application which we will communicate with you during the application process.
   

4. When we request further information from you, failure to provide this information within the timeframe we have communicated to you will mean that we will be unable to open your account.
   
5. By applying for a Digmo account you agree and authorise us to obtain your information from your Mobile Network Provider and information held in the National Registration Office by the Governance of Zambia. You further agree and consent to the disclosure of your information by your Mobile Network provider and National Registration Office.

2.5 Safeguarding Your Money

Your funds are kept in a pooled trust account and cannot be used by us.

1. On receipt of funds to your DigMo account we will issue to you e-money to the same value which shall be stored on your DigMo account. The funds shall be safeguarded in full by depositing them into a pooled trust account held by a deposit taking financial institution in the name of DigMo.
   
2. The use of a pooled trust account does not impair your claim to the funds when redeeming the e-money we have issued to you.
   
3. Digmo has no claim to the funds deposited into the pooled trust account and cannot use the funds for any purpose other than to redeem against e-money we have issued. This means that we cannot use the funds for our own purposes and no other company can claim ownership of these funds.

2.6 Dormant Accounts and Bereavements

If you do not use your account for Two (2) years, it will become dormant.

1. Your account will be considered to be dormant after a period of 12 months of inactivity where you have not accessed your Digmo account or initiated any payment transactions.
   
2. We will inform you both Three (3) months before and 30 days before your Digmo account is considered to be dormant providing you an opportunity to log into the Digmo account.
   
3. Should your account become dormant, you will need to contact us to reactivate your account or redeem the remaining balance.
   
4. If after a period of Two years from your account becoming dormant funds remain unclaimed, they shall be transferred to Bank of Zambia within 30 days. Once funds have been transferred to BoZ, you will have Six (6) years in which you can claim your funds.
   
5. In the unfortunate circumstance whereby the account holder has passed, the next of kin or executor of the estate should contact us at their earliest convenience. Our dedicated team will help outline what we need to close the account and redeem the remaining balance.
   
6. You can provide to us at any time the contact details of your next of kin, who can be contacted in the event of your account being at risk of becoming dormant.

2.7 Your Responsibilities

Keep your account safe and tell us immediately if something is wrong.

1. You are responsible for following all of the instructions found within these terms and any other document or instruction we may provide to you through the Digmo app.
   
2. You agree to:
   • Keep your Digmo account credentials safe by securing your account with a secure password or PIN and ensuring that this does not become known by anyone else.
     
   • The Safekeeping of your mobile device used to access the Digmo application and the sim card used for your registered Mobile Money account.
     
   • Inform Digmo immediately if you believe your Digmo account credentials, mobile device or sim card have come into the possession of an unauthorised person and take steps to secure your accounts.
     
   • Inform Digmo immediately if you believe any unauthorised or fraudulent activity has occurred on your account or you believe your Digmo account, mobile device or sim card has been compromised.

3. Digmo shall not accept liability for any losses, disclosure, or payment transaction where you have failed to comply with these responsibilities; or another person has accessed your Digmo account, mobile device or sim card as a result of you sharing them with another person, or failure to keep them safe. You agree to indemnify Digmo against any claims made in respect of such losses and transactions.

2.8 Complaints

Please let us know if you have any questions or problems. If you do need to complain we will look into your concerns fairly and respond quickly.

1. At Digmo, we are committed to providing exceptional service to our customers. However, we understand that there may be instances where our service does not meet your expectations. To address such situations, we have a structured dispute resolution process that ensures your concerns are heard and addressed promptly and fairly.
   
2. Our complaints handling procedure:
   
   • If you are dissatisfied with any aspect of our service, you have the right to file a complaint. This can be done through your Digmo account or by contacting our customer service team and any other available channels.
   • Upon receiving your complaint, we will promptly acknowledge it, ensuring that you know your concerns are being taken seriously
   • Each complaint will be investigated thoroughly and fairly by our dedicated team. We aim to understand all aspects of the issue and identify the best possible resolution.
   • We strive to resolve all complaints within 15 days of receipt. If we cannot provide a final response within this timeframe, we will issue a written explanation outlining the reasons for the delay and an estimated resolution time.
   • If you are not satisfied with the response or resolution provided, you have the option to escalate your complaint to the CEO of Digmo. The CEO’s office will undertake a review of your complaint and the initial response provided.
   • In the event that you remain dissatisfied after the CEO’s review, you have the right to escalate your complaint to the relevant regulatory authority or an appropriate dispute resolution body. This ensures an impartial and independent review of your complaint.
   • The Bank of Zambia shall take up all referred unresolved complaints or disputed decisions by the Company and act as Arbitrator between the parties and give appropriate directives where required.
   • Where a party is dissatisfied with the decisions of the Bank of Zambia, the aggrieved party may seek redress with the Competition and Consumer Protection Commission for resolution.
     
     
3. At every stage of the complaint and dispute resolution process, we are committed to transparency and fairness. Our aim is to ensure that your concerns are addressed respectfully and effectively.

Part 3: Digmo Service

3.1 Depositing and Receiving Funds

1. For incoming transactions to your Digmo account, you can begin a deposit by pressing the add money option from within the Digmo account and follow the on-screen instructions.
   
2. Funds can be transferred to your Digmo account by MoMo and from our selected partners directly.
   
3. We will need you to confirm some details such as where the money is coming from, how much the transaction is for and a description or reason.
   
4. A payment request will be created for approval which will be communicated to the sender through the relevant payment method.

3.2 Sending and Withdrawing Funds

For outgoing transactions from your Digmo account, you can begin a deposit by pressing the send money option from and follow the on-screen instructions.

Funds can be transferred from your Digmo account through Mobile Money, and you can directly pay selected partner services from within your Digmo account.

We may need to confirm some details such as where the money is going from, how much the transaction is for and a description or reason.

You may be required to approve the transaction within your Digmo account, by re-entering your secure password or pin before we can process your payment.

3.3 Fees

Certain fees may apply which will be clearly communicated to you at the time of your payment request.

1. A list of our current fees can be found in Appendix 1 to these terms, however, they may be changed at any time including where we are required to collect a fee or levy for a transaction or when the cost to process a transaction increases.
   

2. We shall provide you with 30 days’ notice before the change comes into effect, except where we are required by law to make the change sooner.
   
3. We will publish an up-to-date list of general fees on our website and a tariff guide can be obtained from our Head office.

3.4 Limits

There is a limit on how much you can send or receive.

1. To help us protect your money and provide a reliable service to all of our customers, there is a limit on the value you can send and receive in your Digmo account and a maximum total balance. These limits will apply on a per transaction and a periodic basis, subject to the law and any requirements from BoZ.
   
2. When you have reached your limit, you will be unable to send or receive any further funds during that period and any attempted payment transactions will be declined.
   
3. We reserve the right to amend the limits to your account at any time, for any reason, including restricting the limits to zero.

3.4 Holding Transactions and Accounts

Sometimes we may need to ask for information about your transactions so we can help protect your money and keep Digmo safe.

1. We may place a hold on a payment transaction where we have reason to believe that it has not been authorised by you, is fraudulent or is not permitted by law. We will promptly review any held transaction and approve or cancel the payment transaction following our review.
   
2. When we approve a payment transaction it will be processed as instructed and both you and the other party will be notified.
   
3. When we cancel a payment transaction, we will return the funds back to the payment account and notify you, unless we are not permitted by law.
   
4. When we are reviewing any payment transaction, which may be held, successful or cancelled; we reserve the right to freeze your account which will prevent any payment transactions against your Digmo account during our review. We will only do this when we believe it is necessary, for as short a period as possible, in accordance with the law.
   
5. We may require you to provide us with further KYC information or details related to your transactions as part of our review.
   
6. When we request further information from you, failure to provide this information within the timeframe we have communicated to you will mean we will be unable to approve any held transactions or resume your account and may result in us terminating your account without further notice.

3.5 Sharing Payment Transaction Data

We may share some details about your account and transactions for payments to and from our payment partners.

DigMo allows you to send and receive funds directly with our payment partners almost instantly as a direct payment through the DigMo service.

3.6 Redeeming E-Money

We store your balance electronically, but you can still use this to make transactions using the Digmo app.

1. Provided you have an active account in good standing, you have the right to redeem the monetary value of the e-money in your account at any point by initiating a payment transaction within you Digmo account.
   
2. To initiate a payment transaction and redeem e-money on your account, use the send money option and provide the recipient details, transaction amount and any description if applicable.
   
3. On receipt of your instruction we will redeem the equivalent e-money from your account and process your payment transaction, subject to our verification checks. We aim to process payment transactions promptly subject to the availability of the recipient payment service provider.
   
4. While we aim to make transactions as cost-effective as possible, certain fees may apply which will be clearly communicated to you at the time of your payment request.
   
5. Once a payment has been initiated, we cannot guarantee that it can be canceled or reversed. Should you wish to cancel or reverse any transaction please contact us as soon as possible.

3.6 Statements and Notifications

Your transaction information can be found within your Digmo account.

1. You can find a record of your transactions from within your Digmo account which will show your transaction history and balance.
   
2. Should you require an account statement, please contact us and we will issue you with a statement as soon as possible.
   
3. We will provide you with any notifications related to your payment transactions within your online account.

Appendix 1: DigMo Fees and Government Levy

‍The fees below are correct as of the date of this agreement. The fees are subject to change without notice and an up-to-date tariff guide can be found on our website.

Mobile Money Levy*
‍The levy is a tax on mobile money transactions that we are required by the government to collect on certain transactions and pay to the Bank of Zambia.

Deposit
‍All deposits to Digmo are FREE
^{‍While DigMo does not charge you for making a deposit, you may be charged by the sending payment provider}

Withdrawal to Registered Mobile Money Wallet
‍All withdrawals to your own registered mobile wallet are FREE
^{‍We may be required to verify your identity is registered to the mobile number}

‍

Payments to registered merchants and utility bills
‍All bill payments and payments to registered merchants are FREE except to betting companies which are subject to the Government Levy (below)
‍^{You may be charged a levy when making a payment until we can verify that a payment has been made to a registered  merchant or utilities company. A registered merchant means one who is registered with the Zambia Revenue Authority for tax purposes.}

‍

Transfer to DigMo Prize Draw Account
All transfers between your own DigMo accounts are FREE.

Appendix 1: Limits

There is a limit set by the Bank of Zambia on the value you can send and receive in your DigMo account and a maximum total balance. These limits apply on a per transaction and a periodic basis and represent the maximum limits we can apply to an account. We may at our discretion lower the limits applied to your account without notice for any reason.

‍

Simple limits may apply for some accounts while we are approving your application and completing our due diligence checks.

Standard limits are applied to approved DigMo accounts following verification of your identity documents.

Enhanced limits can only be applied following further due diligence where you will be required to provide additional information documents such as a proof of residence, professional reference, confirmation from a reputable person and source of funds. You should contact our customer support team if you require enhanced limits.

We are unable to offer limits exceeding the Enhanced Limits for any reason.

‍