These Terms and Conditions apply to and regulate the provision of financing and credit services provided by Quantum African Experience Limited, powering technology and financial services across Africa through the brand "Mkopo Easy."
These Terms and Conditions constitute Quantum's services and set out the terms governing this Agreement.
BUY NOW PAY LATER, is a trade tools financing service offered by Quantum by accepting this service, an account is set up with Quantum and you agree that you have read these Terms and Conditions. You authorize Quantum to review your personal information including your credit report and you understand that this account may be subject to transaction fees and default fees and is governed by the Laws of the Republic of Kenya.
By accepting these Terms and Conditions, you have agreed to Quantum granting you our above services, subject to the conditions herein and the terms and conditions of related master terms and conditions.
You will be asked to provide your personal information and data, as well as your current residential address, and/or any other KYC requirement as may be required from time to time, for the opening of an account and processing of your financing application. This information shall be used for verification purposes.
To ensure that we can provide communications to you electronically, you must notify us of any change in your email address and your mobile device number or other text message address by updating your profile.
How to use the trade tools financing account
This is a credit account where you access an indirect loan or credit facility by Quantum financing the purchase of your trade tools, while you repay the loan or credit facility on a future date on the Payment Due Date at interest on the loan of 10% per month and subject to the terms of your financing application.
Definitions
In this agreement, the terms: "You", "Your", "Customer", and "Borrower" shall mean the person who applied for this Account and agrees to this Agreement while "We", "us" and "our" and "Lender" shall mean Quantum, and following an assignment, any person, company or bank to whom the rights and/or obligations of Quantum have been assigned.
Account means the Customer's account with Quantum
Disbursement Date means the date Quantum advanced the financing to the Customer
Payment Due Date means a period between 1 day to 12 weeks
Credit Limit means the financing limit approved by Quantum
Loan means the actual amount advanced to the Borrower by Quantum
1. Conditions for use
To apply and qualify for financing:
You must:
a. accept and agree to these Terms and Conditions;
b. register with us for an account;
c. be a Kenyan citizen of at least 18 years of age;
d. be a gig economy user; and
e. provide all information as may be requested by us, such as your name, email address, mobile device number, and such other information as we may request from time to time ("Customer Information").
You represent and warrant that all Customer Information you provide us from time to time is truthful, accurate, current, and complete, and you agree not to misrepresent your identity or your Customer Information.
You agree to promptly notify us of changes to your Customer Information by updating your profile.
If we approve your registration, you will be authorized to use your account, subject to these terms:
For our compliance purposes and to provide the services to you, you hereby authorize us to, directly or through a third party, obtain, verify, and record information and documentation that helps us verify your identity and other information.
When you register and from time to time thereafter, we may require information and documentation to identify you, such as:
A copy of your government-issued photo ID (national ID, passport, voter’s card, or driver’s license)
A copy of a utility bill, bank statement, affidavit, or other bill (dated within 3 months) with your name and address
Any other information/documentation we may require
By using the account and providing Customer Information, you authorize us (and third-party service providers) to obtain information about you from third-party websites and databases as necessary. You grant Quantum and its service providers a limited power of attorney for this purpose.
You acknowledge that when Quantum or its providers access third-party websites, they act as your agent.
Third parties may rely on this authorization.
We do not review third-party data for accuracy, legality, or non-infringement. Quantum owns your confidential Customer Information (as between Quantum and providers).
2. Customer consent
By ticking "I agree to the Terms and Conditions" (your electronic signature), you consent that:
We can provide materials/information about your legal rights and duties electronically.
We may share/receive/use your data with/among affiliated third parties (switches, MNOs, utilities, aggregators, credit bureaus, financial institutions, e-commerce platforms, etc.).
You consent to cross-border data transfer and accept associated risks.
Your e-signatures have ink-equivalent effect.
We may send disclosures via our website or your provided email.
We will alert you electronically when disclosures are available.
You can print or download disclosures.
Consent applies to this and future disclosures unless withdrawn per procedure.
Electronic disclosures have the same effect as paper.
3. Borrower's obligations
Pay the loan sum (including convenience, default, penalty fees, interest, and other amounts) on or before the Payment Due Date.
We may presume authorization of any loan application made in your name unless you notify us of imminent fraud within 24 hours.
You may repay early if you give notice and pay full principal plus flat interest.
Provide authentic, current personal, phone, and financial records we request.
Pay all collection costs (including reasonable attorneys’ fees) unless prohibited by law.
Do not provide false information or signatures.
Pay any Late or penalty fee as applicable.
Notify us of changes to name, address, email, or phone.
Honour all promises in this Agreement.
Only accept if of legal age and capacity.
Do not use the account for illegality.
Fill the application form accurately.
4. Lender's obligations
Make available approved financing.
Perform after confirming identity.
Demand repayment when due.
Conduct investigations before opening an account.
Use reasonable lawful means to collect principal, default, transaction, and penalty fees.
5. Credit reference
We may use credit agencies for reports.
You authorize access to information from such agencies.
Your details and decision may be registered with a credit agency.
6. Notices
We may communicate via:
Email (address supplied in application)
SMS (mobile number supplied)
Posting on our website
7. Event of default
Default occurs if:
You fail to make any scheduled repayment in full by the due date;
Any representation/information provided is materially incorrect;
You do anything prejudicing our rights or causing loss/damage.
If default:
We may set off any of your balances with us against obligations (without notice).
We may assign to a Collections Agency.
We may institute legal proceedings without prior notice.
You bear legal costs and accruing interest.
8. Termination of the account
We may terminate anytime (subject to law).
We may terminate by written notice to your application address.
12 months inactivity (no debit/credit) may lead to termination without notice.
Amendments may be made and communicated in writing.
Governed by laws and courts of the Republic of Kenya.
No liability for special, indirect, incidental, consequential damages.
Failure to enforce is not waiver.
We may assign rights/obligations; you will be notified only if administration changes.
You consent to lawful access/use/disclosure of your data; you waive related claims.
We may revise these Terms; latest version available under "Quantum Terms and Conditions."
10. Indemnification
You indemnify Quantum and Third Party Providers (and officers, directors, agents, partners, employees, licensors, distributors, representatives) from all claims, losses, damages, costs, and reasonable attorneys' fees arising from your access/use, incorrect/incomplete/misleading info, IP infringement, defective products, injury, or legal violations.
11. Communication
Contact: info@quantumafricaexp.com (or updated address). We will acknowledge by email/SMS or in-app notification.
12. Dispute Resolution
Parties shall attempt amicable settlement. Unresolved disputes (contract, tort, fraud, misrepresentation) shall be resolved exclusively by Kenyan High Courts under Kenyan law.
The terms shall be construed and enforced under the laws of the Republic of Kenya.