Terms of Service

1. Acceptance of Terms & Regulatory Framework

By accessing or using the Potla Progressive Web App (the "App"), creating a digital pocket, or transacting on our platform, you ("User", "Account Holder") agree to be bound by these Terms of Service ("Terms") and all applicable statutory regulations of the Republic of South Africa, including the Financial Intelligence Centre Act 38 of 2001 ("FICA") and the National Payment System Act 78 of 1998 ("NPSA"). If you do not agree to these Terms, you must immediately discontinue use of the App.

2. The Digital Pocket Architecture & Balances

Potla provides a single, high-speed digital pocket denominated in South African Rand (ZAR). Your pocket balance reflects real-time pre-funded credits. The digital pocket is not a bank deposit account; balances are safeguarded in audited, segregated trust accounts held with accredited South African clearing banks in compliance with Payment Association of South Africa (PASA) directives.

3. Deposits, P2P Transfers & Payouts

Top-Ups: You may fund your pocket via supported payment cards (processed securely via Paystack), instant vouchers, or registered partner cash-in points.

Peer-to-Peer (P2P) Transfers: Transfers to other Potla users are executed instantly via recipient mobile numbers. Because transfers settle in real time, confirmed transfers cannot be recalled, reversed, or refunded by Potla once executed.

Payouts: Users may request a bank payout of available funds at any time. Payout settlements are transmitted to your verified South African bank account and are subject to standard clearing house operating windows.

4. Identification, KYC & FICA Compliance

To prevent financial crime, money laundering, and terrorist financing, Potla enforces Know Your Customer ("KYC") verification. You agree to submit truthful, verifiable personal information, including your full legal name, South African National Identity Number or Passport Number, and verified mobile phone number. Failure to provide requested verification may result in transaction limits, temporary suspension, or account termination.

5. Account Security & Passwordless Authentication

Potla utilizes passwordless one-time password (OTP) verification and biometric device authentication. You are strictly responsible for maintaining control of your registered mobile phone number and SIM card. Never disclose verification codes to third parties. Potla will never contact you via telephone or unsolicited message requesting your OTP.

6. Prohibited Activities

You may not use Potla for any unlawful purpose, including but not limited to: money laundering, terrorist financing, illicit trade, fraudulent pyramid or Ponzi schemes, gambling without statutory licenses, or facilitating unauthorized third-party commercial transactions. Any detected abusive or unlawful activity will result in immediate account freeze and mandatory reporting to the Financial Intelligence Centre (FIC).

7. Fees & Transparency

Potla maintains a transparent fee schedule. Standard P2P transfers are fee-free between personal users. Card funding and instant bank payouts may incur nominal processing fees, which are always displayed and confirmed prior to transaction authorization.

8. Governing Law & Dispute Resolution

These Terms are governed by and construed in accordance with the laws of the Republic of South Africa. Any disputes arising from or in connection with your use of Potla shall be submitted to the competent courts of the Republic of South Africa or resolved through the National Financial Ombud Scheme (NFO).

9. Contact & Support

For legal notices, compliance queries, or customer support regarding these Terms, please contact our legal and customer operations team at support@potla.app.