Credit Privacy

1. Introduction

1.1 We, WebCash (WebCash SMC Uganda), are the Company that owns, develops and operates the mobile software application WebCash and its associated financial and advertising services (the “App”). We respect your privacy and ensure that all information that you enter in your WebCash account is treated confidentially and is processed in accordance with this Data Privacy Policy. The purpose of this document is to let you know what information we collect when you use WebCash, how we use it, who we share your information with and why, as well as where your information is stored.

Please read this policy carefully to understand how we treat your personal data.

2 What type of information do we collect when you download and use WebCash?

• The personal and business information that you enter when you register to WebCash and throughout the course of using WebCash. Examples include your name, phone number and images of you and your business
• The transaction information that you record using WebCash
• Information about how you use WebCash, such as the frequency and duration of your activities on WebCash
• The communications between you and WebCash SMC Uganda about WebCash
• Information about the devices where you install or access WebCash, depending on the permissions you’ve granted. Examples include technical attributes of the devices such as the operating system and hardware version, and how you are accessing the Internet
• Location information. We may also use GPS technology and other location services to determine your location. You can withdraw your consent at any time by logging out and uninstalling the App from your device.

3. How do we use this information?

WebCash SMC Uganda is passionate about helping its customers to access affordable financing to grow their business and a simple financial record-keeping tool to help them to better manage their business. We use all of the information we have to help us to:
In order to tailor our subsequent communications to you and continuously improve our products and services, we may also ask you to provide us with information regarding your personal or professional interests, demographics, experience with our products and this website, and more detailed contact preferences.

• Provide and improve our services. We will use all of the information that we have to ensure that WebCash and our services are meeting the needs of our users. We use this information to determine whether or not to provide a loan to a user, the amount of the loan, and the terms applicable to the loan. We also use the information to improve the features and usability of the App.
• Improve the technology supporting the App to improve its convenience, efficiency and security.
• Communicate with you. We use this information to respond when you contact us, and when we communicate with you about our service.
• Show targeted advertisements and measure their effectiveness. We use this information to improve our advertising and measure the level of interest that they generate in order to ensure that they are relevant to you.

4. Who do we share your information with, and why?

We may disclose some or all of the data that we collect from you when you download or use the App to credit reference bureaus. The purpose of this is to verify your credit history if you apply for a loan so that we can consider it in our loan decision, and if you receive a loan, to deter and discourage you from defaulting on the repayment of the loan

Your information may be shared with and processed by staff operating inside or outside of Uganda who work for us or for one of our suppliers. These staff need access to all of the information that we collect about you as they may be engaged in providing you with personalized support and processing your loan applications. These staff members are contractually obligated to treat your data confidentially and securely in accordance with this Data Privacy Policy. By using and submitting your data on the App, you agree to this sharing and processing of your data. We will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with this privacy policy.

Besides sharing your data with credit reference bureaus, staff and suppliers, we do not share information that personally identifies you unless you give us your permission in writing or unless we are under a duty to do so in order to comply with any legal or regulatory obligation or request. Personal Information is information like your name, business name, phone number, email address that can by itself be used to contact you or identifies who you are.
We may work with third parties that pay us to issue advertisements on WebCash, providing us with revenues that make it possible to offer our services free of charge to our users. We and our advertising partners want the advertisements on WebCash to be relevant, interesting and ideally helpful for you or your business. With this in mind, we use the information that we have about you and your business to show you advertisements that meet these goals. We do not share your Personal Information unless you give us permission. See definition above for Personal Information.

4.2 WebCash reserves the right to perform statistical analyses of user behaviour in order to measure interest in and use the various areas of our application, so long as such statistical analysis will not be linked to any registered person by a third party.
4.3 Because we don’t want you to miss out on any of the deals and promotions that we may have, and if it is agreeable to you when you register with us or at any other time, we may use your personal information to contact you for market research.
4.4 WebCash may send you promotional materials or details by SMS, e-mail or post in order to update you and keep you advised of any promotions, news, competitions or developments which we think may be of interest to you. We will always give you the opportunity to unsubscribe to the receiving of such direct communications.
4.5 Further, notwithstanding any such preference not to receive promotional information by the user, WebCash reserves the right to contact the user regarding account status, changes to the terms and conditions and other matters relevant to the underlying services and/or the information collected.

5 Where do we store your information?

The data that we collect from you may be transferred to and stored outside of Uganda. We do this in order to keep our costs at a minimum while maintaining high security standards.

5.1 Unfortunately, the transmission of information via the Internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to the App, and any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorized access.

6.What is the minimum and maximum period for repayment?

The minimum period for repayment is 1 (ONE) week and the maximum repayment period being 4 (Four) Months.

7. What is maximum annual percentage rate (APR)?
The maximum APR is 17.854%.

8. Loan Representative example as follows;

DATE of issue	    10/10/2022		     Administrative Costs	         30,000 
	
NAME 	            XXXXXXXXXXXXXX		 Application Fees	             10,000 
	
Loan Amount 	    1,500,000.00

 				
					
DATE             PRINICIPLE	       INTEREST DUE	             TOTAL AMOUNT       REDUCING B/L	

10/10/2022      1,500,000.00 		                         1,500,000.00       1,500,000.00    

09/11/2022	      500,000.00 	     120,000.00 	           620,000.00 		1,000,000.00    

09/12/2022	      500,000.00 	      80,000.00                580,000.00 	      500,000.00    

09/01/2023	      500,000.00 	      40,000.00 	           540,000.00 		         -   

9. How do I manage or delete information from my account?

If you would like to delete your account and all associated information, please contact WebCash SMC Uganda by email at office@micropay.com or by phone at +256(0)702 461049.

10. Changes to this privacy policy

10.1 WebCash reserves the right to amend this privacy policy at any time by posting the amended policy on the website. Unless otherwise stated, the current version will apply each time you access this website.

8. Which laws apply

8.1 This privacy policy will be governed by the laws of Uganda. You consent to the jurisdiction of the Ugandan courts for any dispute which may arise out of this privacy policy.