Common use of HONOURING OF CARDS Clause in Contracts

HONOURING OF CARDS. 4.1 You undertake to accept each valid Card that is presented to You by the rightful Cardholder in payment of goods and/or services. 4.2 You undertake to supply the goods and/or services at a price which is not more than Your normal cash price for the goods and/or services and not to discriminate against any Cardholder by adding any surcharge or by setting a minimum or maximum transaction amount as a condition of honouring any Card. 4.3 You may not accept Cards for the purchase of shares, bonds or stock. 4.4 iKhokha shall pay to You the value of all goods and/or services that You supply after an Electronic Transaction, on condition that delayed Settlement will apply when there are outstanding compliance documents. iKhokha shall be entitled to keep funds back in the case of excessive Chargebacks, bankruptcy, fraud or suspected fraud, Laundering or suspected Laundering. 4.5 iKhokha is irrevocably authorised to debit Your nominated bank account at whatever bank this is conducted with the following: 4.5.1 A minimum merchant Transaction Fee of (excluding VAT) which will be deducted from the transactions' value prior to settling to Your account. 4.5.2 A daily Settlement fee of R2.50, which will be deducted from the total amount being settled daily into your account. You will be settled once a day for all transactions performed on that business day. Settlement will only take place when transactions have been performed and once the total amount to be settled exceeds R10.00 4.5.3 A Chargeback fee of R35.00 (excluding VAT) per Chargeback, if your client requests a chargeback from his/her bank with valid reason 4.5.4 A monthly data fee per iKhokha XL package purchased or rented at a minimum charge of R27 (including VAT) per month per device 5.1 The Floor Limit applicable to all transactions is zero. All transactions require prior authorisation from a bank by way of the Electronic Authorisation Function prior to You permitting the Cardholder to spend on a Card.

HONOURING OF CARDS. 4.1 You undertake The Merchant undertakes and agrees to accept each valid Card that is presented to You by the rightful Cardholder in customer to the Merchant as payment for any goods or services or combination of goods and/or servicesand services which the Merchant sells to the customer. 4.2 You undertake The Merchant undertakes to supply the goods and/or and services at a price which is not more than Your normal cash price for the these goods and/or and services and not to discriminate against any Cardholder customer by adding any surcharge (i.e. an extra amount or percentage) or by setting a minimum or maximum transaction Transaction amount as a condition of honouring any Cardthe Merchant’s accepting the Card as payment. 4.3 You The Merchant may not make cash disbursements to customers. The Merchant may not accept Cards for the purchase of sharessecurities as defined in the Securities Services Act, bonds No 36 of 2004, as amended or stockreplaced from time to time. 4.4 iKhokha shall NuPay will pay to You the Merchant the value of all any goods and/or and services which the Merchant supplied to a customer after NuPay receives a Terminal-generated receipt from the Merchant which shows that You supply after an Electronic Transaction, on condition the Merchant posted a related Transaction as defined by the User Manual. NuPay will not pay where it is able to prove that delayed Settlement will apply when there are outstanding compliance documents. iKhokha shall be the Merchant is not entitled to keep funds back in payment because the case Merchant is guilty of asking for unlawful or excessive Chargebacks, bankruptcy, fraud or suspected fraud, Laundering or suspected Launderingposting invalid Transactions, as explained in this Agreement. 4.5 iKhokha is irrevocably authorised The Merchant authorises XxXxx to debit Your the Merchant’s nominated bank account or any of the Merchant’s other bank accounts (regardless of the bank at whatever bank this is conducted which they are held), each month, with the following: 4.5.1 A minimum merchant Transaction Fee Chargeback Recovery values which have not been recovered from Settlements; 4.5.2 Merchant Discount fees that were not recovered in the Settlement process; and 4.5.3 any other fee or charge that may become due and payable as per clause 15 of the Agreement. 4.6 NuPay shall have the right to change the Merchant Discount rates and the basis on which they are debited (excluding VATi.e. from settlement to monthly debits) on the terms and conditions of clause 3.2 of this Schedule. 4.7 If NuPay has approved a terminal or electronic device supplied by someone other than NuPay, which will the Merchant wants to use to process Card Transactions, this terminal or device must be deducted able to accept and process Chip Cards according to the EMV specifications (regardless of whether the Merchant or another person controls and owns the terminal or device). 4.8 The Merchant agrees to meet the EMV compliance requirements set out in clause 4.7 of this Schedule. The Merchant hereby undertakes in favour of NuPay to make good any loss, damage, or other liability which NuPay incurs or suffers at any time, and to pay any claim, arising from the transactions' value prior to settling to Your accountMerchant’s non-compliance with the EMV compliance requirements, brought against NuPay at any time, unless NuPay suffered or incurred this loss, damage or liability, or this claim was brought against NuPay because of NuPay’s gross negligence or fraudulent intent or that of any person acting for or controlled by NuPay. 4.5.2 A daily Settlement fee of R2.504.9 The Merchant with its agents and sub-contractors will ensure, which will be deducted from where applicable, to comply with the total amount being settled daily into your accountPCI DSS and all obligations relating to data security, data compromises, and the steps necessary to demonstrate compliance with the PCI DSS. You will be settled once a day for all transactions performed on that business day. Settlement will only take place when transactions have been performed and once the total amount to be settled exceeds R10.00 4.5.3 A Chargeback fee of R35.00 (excluding VAT) per Chargeback, if your client requests a chargeback from his/her bank with valid reason 4.5.4 A monthly data fee per iKhokha XL package purchased or rented at a minimum charge of R27 (including VAT) per month per device 5.1 The Floor Limit applicable to all transactions is zero. All transactions require prior authorisation from a bank by way Merchant can access full detail of the Electronic Authorisation Function prior to You permitting applicable obligations and processes at the Cardholder to spend on a CardPCI DSS website: xxxx://xxx. xxxxxxxxxxxxxxxxxxxx.xxx.

HONOURING OF CARDS. 4.1 You undertake The Merchant undertakes and agrees to accept each valid Card that is presented to You by the rightful Cardholder in customer to the Merchant as payment for any goods or services or combination of goods and/or servicesand services which the Merchant sells to the customer. 4.2 You undertake The Merchant undertakes to supply the goods and/or and services at a price which is not more than Your normal cash price for the these goods and/or and services and not to discriminate against any Cardholder customer by adding any surcharge (i.e. an extra amount or percentage) or by setting a minimum or maximum transaction Transaction amount as a condition of honouring any Cardthe Merchant’s accepting the Card as payment. 4.3 You The Merchant may not make cash disbursements to customers. The Merchant may not accept Cards for the purchase of sharessecurities as defined in the Securities Services Act, bonds No 36 of 2004, as amended or stockreplaced from time to time. 4.4 iKhokha shall NuPay will pay to You the Merchant the value of all any goods and/or and services which the Merchant supplied to a customer after NuPay receives a Terminal- generated receipt from the Merchant which shows that You supply after an Electronic Transaction, on condition the Merchant posted a related Transaction as defined by the User Manual. NuPay will not pay where it is able to prove that delayed Settlement will apply when there are outstanding compliance documents. iKhokha shall be the Merchant is not entitled to keep funds back in payment because the case Merchant is guilty of asking for unlawful or excessive Chargebacks, bankruptcy, fraud or suspected fraud, Laundering or suspected Launderingposting invalid Transactions, as explained in this Agreement. 4.5 iKhokha is irrevocably authorised The Merchant authorises XxXxx to debit Your the Merchant’s nominated bank account or any of the Merchant’s other bank accounts (regardless of the bank at whatever bank this is conducted which they are held), each month, with the following: 4.5.1 A minimum merchant Transaction Fee Chargeback Recovery values which have not been recovered from Settlements; 4.5.2 Merchant Discount fees that were not recovered in the Settlement process; and 4.5.3 any other fee or charge that may become due and payable as per clause 15 of the Agreement. 4.6 NuPay shall have the right to change the Merchant Discount rates and the basis on which they are debited (excluding VATi.e. from settlement to monthly debits) on the terms and conditions of clause 3.2 of this Schedule. 4.7 If NuPay has approved a terminal or electronic device supplied by someone other than NuPay, which will the Merchant wants to use to process Card Transactions, this terminal or device must be deducted able to accept and process Chip Cards according to the EMV specifications (regardless of whether the Merchant or another person controls and owns the terminal or device). 4.8 The Merchant agrees to meet the EMV compliance requirements set out in clause 4.7 of this Schedule. The Merchant hereby undertakes in favour of NuPay to make good any loss, damage, or other liability which NuPay incurs or suffers at any time, and to pay any claim, arising from the transactions' value prior to settling to Your accountMerchant’s non-compliance with the EMV compliance requirements, brought against NuPay at any time, unless NuPay suffered or incurred this loss, damage or liability, or this claim was brought against NuPay because of NuPay’s gross negligence or fraudulent intent or that of any person acting for or controlled by NuPay. 4.5.2 A daily Settlement fee of R2.504.9 The Merchant with its agents and sub-contractors will ensure, which will be deducted from where applicable, to comply with the total amount being settled daily into your accountPCI DSS and all obligations relating to data security, data compromises, and the steps necessary to demonstrate compliance with the PCI DSS. You will be settled once a day for all transactions performed on that business day. Settlement will only take place when transactions have been performed and once the total amount to be settled exceeds R10.00 4.5.3 A Chargeback fee of R35.00 (excluding VAT) per Chargeback, if your client requests a chargeback from his/her bank with valid reason 4.5.4 A monthly data fee per iKhokha XL package purchased or rented at a minimum charge of R27 (including VAT) per month per device 5.1 The Floor Limit applicable to all transactions is zero. All transactions require prior authorisation from a bank by way Merchant can access full detail of the Electronic Authorisation Function prior to You permitting applicable obligations and processes at the Cardholder to spend on a CardPCI DSS website: xxxx://xxx. xxxxxxxxxxxxxxxxxxxx.xxx.