Terms & Conditions

01

Agreement to These Terms

These Terms and Conditions ("Terms") constitute a legally binding agreement between you ("you", "your", or "the Account Holder") and Olympus Pay Proprietary Limited ("Olympus Pay", "we", "us", or "our"), Registration No. BW00009700756, governing your use of the Olympus Pay digital banking platform, mobile application, and all associated financial services (collectively, the "Services"). By creating an Olympus Pay account, accessing our app, or using any of our Services, you confirm that you have read, understood, and agree to be bound by these Terms. If you do not agree, you must not use our Services. These Terms should be read alongside our Privacy Policy, Acceptable Use Policy, and any product-specific terms that apply to specific services you use.

02

About Olympus Pay

Olympus Pay is a digital banking platform operated by Olympus Pay Proprietary Limited, a company incorporated under the laws of Botswana (Registration No. BW00009700756). Olympus Pay operates as a Digital Bank under the Bank of Botswana Regulatory Sandbox. This means we are authorised to provide digital financial services under sandbox conditions approved and supervised by the Bank of Botswana. As a sandbox participant, we are subject to the oversight of the Bank of Botswana and are required to comply with applicable Botswana financial, AML/CFT, and data protection legislation. Olympus Pay is not yet a fully licensed commercial bank. Our sandbox status allows us to operate within defined parameters while working toward full regulatory licensing. Funds held in your Olympus Pay account are safeguarded as required by the Bank of Botswana Regulatory Sandbox conditions.

03

Eligibility

To open and hold an Olympus Pay account, you must meet the following eligibility requirements:

• You must be at least 18 years of age.
• You must be a resident of Botswana or a business entity incorporated, registered, or operating in Botswana.
• For Business Accounts: your business must be duly registered with the Companies and Intellectual Property Authority (CIPA) of Botswana or an equivalent authority in a jurisdiction we support.
• You must not be subject to any sanctions imposed by the Bank of Botswana, the United Nations, the Office of Foreign Assets Control (OFAC), or any other applicable sanctions authority.
• You must not be subject to a court order prohibiting you from operating a bank account.
• You must have the legal authority to enter into this agreement — if acting on behalf of a business, you confirm you have the authority to bind that business to these Terms.
• You must pass our identity verification (KYC) process to the satisfaction of Olympus Pay and in accordance with Botswana AML/CFT regulations.
• You must not have previously had an Olympus Pay account closed for fraud, misuse, or violation of these Terms.

04

Account Registration and KYC

To open an Olympus Pay account, you must complete our identity verification process, which includes:

05

Services Offered

Subject to eligibility and successful KYC verification, Olympus Pay offers the following services to qualifying customers:

• Business bank account with a unique Olympus Pay account number and sort code.
• Domestic payments and transfers within Botswana.
• International wire transfers and cross-border payments (where enabled and subject to applicable limits).
• Virtual and physical Olympus Pay debit cards for business expenditure.
• Prepaid services including airtime top-up, utility bill payments, and DSTV subscriptions.
• Real-time transaction monitoring and spending insights.
• Invoice creation and payment request tools.
• Multi-currency account capabilities (subject to availability).
• Team and sub-user management for business accounts.
• Access to travel and insurance services through integrated partners.

06

Account Security

You are responsible for maintaining the security of your Olympus Pay account. This includes:

• Keeping your login credentials (email address and password) strictly confidential and not sharing them with any third party.
• Enabling and maintaining multi-factor authentication (MFA) on your account. For transactions above defined thresholds, MFA is mandatory.
• Immediately notifying us at support@olympuspay.co if you suspect your account has been accessed without your authorisation, your device has been lost or stolen, or your login credentials have been compromised.
• Using only your own devices to access your account and logging out after each session when using a shared device.
• Not allowing any other person to use your account credentials, even a trusted employee or family member (they must apply for their own sub-user access through the Team Members feature).
• Keeping your registered email address and phone number up to date so we can reach you in the event of suspected fraud or suspicious activity.

07

Transactions and Payments

When you instruct us to make a payment or transfer:

08

Fees and Charges

Our current fee schedule is available in the Fees & Charges section of the app and at olympuspay.co/fees. By using our Services, you agree to pay all applicable fees. Key fees at a glance: SME/Business accounts carry a BWP 99 monthly maintenance fee. Domestic EFT transfers to Botswana bank accounts cost BWP 5 (standard) or BWP 12 (instant). Within-Olympus transfers are always free. Physical card issuance is BWP 120. Full details are in the Fees & Charges policy. During the Bank of Botswana Regulatory Sandbox period, a maximum single transaction limit of BWP 5,000 and maximum account balance of BWP 20,000 apply by regulatory directive. These limits will be revised upon full licensing. We will always display applicable fees before you confirm a transaction. We reserve the right to change our fees by providing you with at least 30 days' written notice via the app and email before new fees take effect. Continued use of our Services after the notice period constitutes your acceptance of the new fees.

09

Prohibited Activities

You must not use your Olympus Pay account for any of the following:

• Any activity that is unlawful under the laws of Botswana or any other applicable jurisdiction.
• Money laundering, terrorist financing, or any activity that violates the Financial Intelligence Act, 2022 of Botswana or international AML/CFT standards.
• Transactions involving countries, entities, or individuals subject to sanctions by the Bank of Botswana, United Nations, OFAC, or other applicable sanctions authorities.
• Gambling, online gaming with real money, or betting services (unless you hold a valid Botswana licence to operate such services).
• Purchasing, selling, or facilitating transactions in unlicensed financial instruments, unregistered securities, or prohibited assets.
• Processing payments on behalf of third parties without our prior written consent.
• Receiving or processing payments that are the proceeds of fraud, theft, or any other criminal activity.
• Using your account for personal transactions if you hold a Business Account (and vice versa).
• Attempting to reverse engineer, hack, or disrupt our platform, infrastructure, or security systems.
• Providing false, misleading, or incomplete information to Olympus Pay at any time.
• Operating a Ponzi scheme, pyramid scheme, or any other fraudulent investment arrangement through your account.

10

Account Suspension and Termination

11

Intellectual Property

All content, software, trademarks, logos, design elements, and technology associated with the Olympus Pay platform are the property of Olympus Pay Proprietary Limited or our licensors. These are protected by copyright, trademark, and other intellectual property laws. You are granted a limited, non-exclusive, non-transferable licence to use our app and services for your personal or business banking purposes. You may not copy, reproduce, modify, distribute, or create derivative works from any part of our platform without our express written consent.

12

Limitation of Liability

To the fullest extent permitted by Botswana law:

• We are not liable for any indirect, special, incidental, consequential, or punitive losses arising from your use of our Services, even if we have been advised of the possibility of such losses.
• Our total liability to you for any claim arising under these Terms is limited to the amount of fees you paid to Olympus Pay in the 3 months preceding the event giving rise to the claim.
• We are not responsible for losses caused by your failure to maintain account security, including failure to enable MFA or failure to report unauthorised access promptly.
• We are not responsible for losses caused by events outside our reasonable control, including natural disasters, government actions, telecommunications failures, or third-party system outages.
• We are not liable for delays in processing payments caused by third-party banks, payment networks, or regulatory requirements.

13

Indemnification

You agree to indemnify, defend, and hold harmless Olympus Pay, its directors, officers, employees, and agents from and against any claims, losses, liabilities, damages, costs, and expenses (including reasonable legal fees) arising from: your use of our Services in violation of these Terms; your breach of any applicable law or regulation; any transaction you initiate or authorise through your account; your violation of any third party's rights; or any false, inaccurate, or misleading information you provide to us.

14

Governing Law and Dispute Resolution

15

Changes to These Terms

We may update these Terms from time to time to reflect changes in our services, regulatory requirements, or business practices. We will notify you of material changes at least 30 days before they take effect via in-app notification and email. If you do not agree to the updated Terms, you have the right to close your account before the effective date of the changes without penalty. Your continued use of our Services after the effective date constitutes acceptance of the updated Terms. The current version of these Terms is always available in the app and at olympuspay.co/terms.

16

Miscellaneous

• Severability: If any provision of these Terms is found to be unlawful, void, or unenforceable, that provision shall be severed and the remaining provisions shall continue in full force.
• Waiver: Our failure to enforce any provision of these Terms shall not be construed as a waiver of our right to do so in the future.
• Entire Agreement: These Terms, together with our Privacy Policy and Acceptable Use Policy, constitute the entire agreement between you and Olympus Pay with respect to the Services.
• Assignment: You may not transfer your rights or obligations under these Terms without our prior written consent. We may transfer our rights and obligations to a successor entity with 30 days' written notice.
• Language: These Terms are written in English. In the event of any conflict between this English version and any translated version, the English version shall prevail.