Supplemental terms – South Africa

1. About these terms

1.1. You have previously agreed to the prevailing terms of service (herein "Terms") of the Zeam Platform (herein "Zeam Platform") that is made available by Paytec Technologies B.V, a private company duly incorporated in the Netherlands with registration number 90126041 (herein "Paytec Technologies").

1.2. These supplemental terms (herein "Supplemental Terms") augment the Terms and govern your use of the certain features and services of the Zeam Platform that are specific to South Africa (herein "Regulated Services") and are concluded between you and our South African affiliate, Zeam South Africa Proprietary Limited (herein "Zeam ZA"), with:

1.2.1. physical address: First Floor, 98 Dorp street, Stellenbosch, 7600, South Africa

1.2.2. email address: hello@zeam.money

1.3. Zeam ZA is a juristic representative of Paytec Services (Pty) Ltd (herein "Paytec Services"). Paytec Services is a Financial Service Provider (herein "FSP") rendering services in respect of crypto assets (herein "CASP") in terms of the Financial Advisory and Intermediary Services Act of South Africa, and is subject to regulatory oversight by the Financial Sector Conduct Authority of South Africa. Paytec Services has been assigned an FSP number (53737) pending the final determination of its CASP application. Paytec Services is also a registered accountable institution in terms of the Financial Intelligence Centre Act, 38 of 2001 under registration number ORG 65501.

1.4. If you do not agree to our prevailing Supplemental Terms, or are not legally capable of doing so, you may not use any of the Regulated Services.

1.5. We reserve the right to change these Supplemental Terms from time to time in our sole discretion, with the updated Supplemental Terms taking effect when they are published. Your continued use of the Zeam Platform and any Regulated Services after the publication of such amended terms shall constitute your acceptance of the revised Supplemental Terms.

2. About the Zeam Platform

2.1. Using your Zeam Wallet, you can:

2.1.1. purchase Zeam Coins (represented as the 'total value' in your Zeam Wallet) by placing fiat into Zeam ZA's local bank account, using a unique code as the payment reference;

2.1.2. give Zeam Coins to other Zeam Wallet holders; and

2.1.3. sell your Zeam Coins for legal tender to be paid into your South African bank account, or use your Zeam Coins to purchase airtime, mobile money, ATM vouchers or other items supported by the Zeam Platform from time to time.

3. Zeam Wallet and Zeam Coins

3.1. The Zeam Platform enables any qualifying South African resident to operate a Zeam Wallet (herein "Zeam Wallet"), which is an electronic store of value on the Zeam Platform.

3.2. Due to the way the Zeam Platform achieves the ubiquitous storage and transfer of value, certain services offered by Zeam ZA are regulated in South Africa.

3.3. The Zeam Platform uses a proprietary crypto asset (herein "Zeam Coin") as its universal store of value. This means that all value that enters the Zeam Platform, that is not already denominated in Zeam Coins, is converted to this store of value through the purchase of Zeam Coins. Accordingly, but depositing currency into your Zeam Wallet, you are effectively purchasing Zeam Coins.

3.4. Each Zeam Coin is uniquely created (i.e. minted) by Zeam Mint Proprietary Limited (herein "Zeam Mint") on its prevailing blockchain service provider and is pegged at a 1-to-1 ratio with a matching fiat currency or USDC coin. Zeam Coins are backed 100% by Zeam Mint reserves.

4. Risks associated with purchasing Zeam Coins

4.1. By purchasing Zeam Coins, you acknowledge the intrinsic risks associated with crypto assets, including but not limited to:

4.1.1. faults, defects, hacks, exploits, errors, protocol failures, or unforeseen circumstances occurring in respect of a crypto asset or the technologies or economic systems on which the crypto assets rely;

4.1.2. transactions in crypto assets being irreversible, consequently, losses due to fraudulent or accidental transactions may not be recoverable;

4.1.3. network delays causing transactions to not be settled on the scheduled delivery date; and

4.1.4. fraud or cyber-attacks on the protocol or technologies on which a crypto asset depends.

5. Custodial service

5.1. The proper functioning of the Zeam Wallet requires that Zeam ZA manage the private keys to your Zeam Wallet on your behalf.

5.2. We store wallet private keys using industry standard security procedures and controls in a combination of online and offline storage.

6. Transfers

6.1. The transfer of Zeam Coins from your Zeam Wallet to another Zeam Wallet is completed upon your instruction and cannot be reversed or refunded, except as set forth in these Supplemental Terms.

6.2. If you transact in a currency other than the applicable currency, our banking partners will convert such funds to ZAR or USD at such bank’s applicable conversion rate and may charge additional fees for completing such currency conversion.

7. Fees

7.1. Zeam ZA may charge fees in connection with the use of the Zeam Platform, with our prevailing charges being set out at […]. We may change these charges from time to time in our sole discretion, with the revised charges taking effect on the date of publication.

7.2. You are responsible for, and agree to pay, all charges that may be charged by your financial institution or other gateways in connection your use of your Zeam Wallet.

8. Transaction limits

8.1. Zeam ZA reserves the right to change the deposit, withdrawal, storage, transfer, and velocity limits on your Zeam Wallet as we deem necessary.

8.2. We may establish individual or aggregate transaction limits on the size or number of deposits, withdrawals, transfers, or other transactions that you initiate using your Zeam Wallet during any specified time period.

9. Unauthorised transactions and errors

9.1. You irrevocably authorise us to process any transaction authenticated with your user credentials.

9.2. You should notify us immediately if:

9.2.1. you believe that an unauthorised transaction or error has occurred;

9.2.2. your password has been compromised;

9.2.3. a device on which you have downloaded the Zeam Platform has been stolen or lost; or

9.2.4.you believe there is an error in your transaction records or account history, or you have a question regarding your transaction records or account history.

10.Limitation of liability and indemnity

10.1. To the maximum extent permissible under applicable law, we disclaim any liability for any cost, claim, damage, loss, expense, penalty, or other adverse consequence that you may incur arising from these Supplemental Terms or the use of the Zeam Platform, your Zeam Wallet, any related services, or otherwise. Without limiting the aforegoing, we shall not be liable for any direct, indirect, consequential, special, or punitive damages, inclusive of loss of profit.

10.2.You agree to indemnify us from any cost, claim, damage, loss, expense, penalty, or other adverse consequence that may arise from your use of the Zeam Platform or your Zeam Wallet, or non-compliance with these Supplemental Terms.

10.3.The provisions of this clause 10 shall apply for the benefit of us and our Affiliates.