This Merchant Processing Agreement (“Agreement”) governs your use of the Street Wallet platform and payment processing services provided by Street Wallet (Pty) Ltd (“Street Wallet”, “the Company”, “we”, “us” or “our”).

By clicking “I Agree”, creating an account, or using the Services, you (“Merchant”, “you”) electronically enter into and sign this Agreement and agree to be legally bound by its terms in accordance with the Electronic Communications and Transactions Act of South Africa.

If you do not agree, you may not access or use the Services.

 

1. Appointment as Payment Collection Agent

The Merchant hereby appoints Street Wallet (Pty) Ltd as its authorised payment collection agent for the limited purpose of:

• Receiving payments from patrons on the Merchant’s behalf

• Processing such payments through approved third party payment service providers

• Deducting agreed service fees

• Settling net proceeds to the Merchant via approved payout methods

 

The Merchant acknowledges that Street Wallet acts solely as a payment intermediary and agent for collection, and does not purchase, resell, or take ownership of the Merchant’s services.

Title to funds collected from patrons passes directly to the Merchant upon successful payment authorisation, subject to Street Wallet’s right to deduct agreed fees.

 

2. Description of Services

Street Wallet provides a QR-based payment facilitation platform that:

• Enables patrons to make digital payments to Merchants

• Allows patrons to leave ratings and service feedback

• Displays Merchant information including name, contact details, story, and skillset to potential patrons

• Provides management dashboards for business partners

• Facilitates settlement via SMS Voucher or other approved payout methods

Street Wallet may promote the Merchant’s services publicly through the Application and associated marketing channels.

 

3. Public Profile and Display of Information

The Merchant acknowledges and agrees that:

• Their name, phone number, skillset, story, and related profile information may be displayed publicly to patrons for the purpose of facilitating payments and promoting services.

• Street Wallet may use such information for platform functionality and marketing.

The Merchant warrants that all information provided is accurate and lawful to publish.

 

4. Electronic Signature and Acceptance

By clicking “I Agree”, creating an account, or continuing to use the Services, the Merchant:

• Electronically signs this Agreement

• Agrees that such acceptance constitutes a legally binding electronic signature

• Acknowledges that electronic records of acceptance, including date, time, IP address, device data, and agreement version, shall constitute proof of signature

No physical signature is required for this Agreement to be binding.

 

5. Billing, Fees and Settlement

Street Wallet charges Merchants the following fees:

• A service fee of 5% per successful transaction processed through the Platform

• A payout fee of R8 per settlement issued via SMS Voucher

Street Wallet shall deduct the applicable service fee and payout fee prior to settlement of funds to the Merchant.

Net proceeds, being the transaction amount less applicable fees, will be paid via approved payout mechanisms, currently including Standard Bank Instant Money vouchers or other approved methods.

Income earned on a given day will be paid the following day (T+1), subject to fraud, risk, compliance, or technical review.

Street Wallet reserves the right to modify its fees upon prior notice to the Merchant in accordance with this Agreement. Continued use of the Services following such notice constitutes acceptance of the updated fees.

All sales are final unless otherwise required by law.

 

6. Third Party Payment Processors

All payments are processed through approved third party payment service providers.

Street Wallet does not control such providers and is not responsible for their downtime, errors, or technical failures.

The Merchant agrees to comply with the terms of applicable payment processors where required.

 

7. Compliance With Laws

The Merchant agrees to:

• Comply with all applicable South African laws

• Not use the Services for unlawful purposes

• Not engage in fraud, money laundering, or prohibited activities

Street Wallet reserves the right to suspend or terminate access in cases of suspected fraud, regulatory risk, or policy violations.

 

8. Account Security

The Merchant is responsible for maintaining account security and safeguarding login credentials.

Street Wallet will not be liable for unauthorised access prior to receiving notice of breach.

 

9. Ratings and Platform Conduct

Street Wallet may remove a Merchant from the platform where consistent poor ratings (3 stars and below over a month) occur or where conduct negatively impacts platform integrity.

 

10. Suspension and Termination

Street Wallet may suspend or terminate access:

• For breach of this Agreement

• For regulatory or compliance risk

• For fraud or suspected illegal activity

• At its discretion where necessary to protect the platform

Certain provisions survive termination, including indemnification and limitation of liability.

 

11. Limitation of Liability

The Services are provided on an “as is” and “as available” basis.

Street Wallet shall not be liable for indirect, incidental, special, or consequential damages arising from use of the Services.

 

12. Indemnification

The Merchant agrees to indemnify and hold Street Wallet harmless from claims arising from:

• The Merchant’s services

• Violation of this Agreement

• Unlawful conduct

• Misrepresentation

 

13. Dispute Resolution

Disputes shall first be subject to mediation under the laws of the Republic of South Africa.

If unresolved, disputes shall proceed to arbitration in accordance with South African law.

 

14. Changes to Agreement

Street Wallet may update this Agreement.

Material changes will require renewed electronic acceptance.

 

15. Governing Law

This Agreement is governed by the laws of the Republic of South Africa.