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BENEFIT RULES

13/02/2019

MEMBER BENEFIT RULES FOR THE ZING WORLD MEMBERSHIP PROGRAMME

This document sets out the Benefits available to you as a Zing World Member. You may choose to use any of the benefits included in this document and you authorise Zing World and where relevant Zing World Business Partners to administer and give effect to the benefits that you activate and approve. For information relating to membership refer to the Member Rules.

BUY DIGITAL CASH

Members may purchase Digital Cash in the form of Digital Dollars either in cash or by using a bank card or by making payment via electronic funds transfer. You can BUY Digital Dollars as follows:

  • Select BUY on the Zing World Mobile App (Android & iOS) and enter the value of Digital Dollars you wish you wish to purchase.
  • We will confirm the price in your local currency and show you the transaction fees applicable for your purchase. The transaction fees charged are to cover the costs associated with the collection of your payment and to remit the funds to the Zing World bank account in Mauritius where the value of your product is managed by independent and professional custodians. For every Digital Dollar in circulation the equivalent US Dollar is held in the custodian managed bank account and audited monthly.
  • Select how you would like to pay. Given the volatility of emerging market currencies against the US Dollar our quotes are valid for 2 hours. If your quote expires simply request a new quote.
  • You can pay for your purchase in cash at any one of over 100,000 till points across South Africa or use your bank card in app or elect to pay by electronic funds transfer.
  • On confirmation of payment your Digital Dollars will be deposited into your Zing World Account and immediately reflect on your mobile application.
  • The value of your Digital Dollars will always be equivalent to the US Dollar and we will highlight the value of your Digital Dollars in your local currency in app. When your local currency depreciates the value of your Digital Dollars in local currency terms will increase.

SEND DIGITAL DOLLARS

Members may send digital dollars to any other member for free. Unlike physical products, Digital Dollars are easy to transfer from one member to another and therefore are borderless. Simply enter the mobile number of the person you want to SEND Digital Dollars to, confirm the number is correct and confirm your SEND request.

There are no transaction fees applicable for sending or receiving Digital Dollars. The movement of Digital Dollars from one member to another is instant.

USE DIGITAL DOLLARS

Use Digital Dollars to Pay for goods and services offered by our Business Partners giving you access to thousands of retail merchants and eCommerce platforms.

To exchange your Digital Dollar value for other products and services simply link your Digital Dollar Account as a mode of payment on any Zing World Business Partner sites and or applications. By using Digital Dollars to pay for goods and services you will not incur any transaction fees.

Simply purchase what you want from any one of our Business Partners and select to pay with Digital Dollars. Our business partners will request a payment authorisation from us for purchases that you approve with them. We will convert the payment amount requested into US Dollars at the exchange rate published on our website at the time of the transaction and check your Digital Dollar value. If you have sufficient Digital Dollar value we will authorise payment on your behalf, remove the Digital Dollars from your Zing World Account and pay the Business Partner directly.

EARN WITH DIGITAL DOLLARS

As a member you qualify for rewards benefits. By simply holding Digital Dollars we may deposit bonus Digital Dollars into your account on a monthly basis. Bonus Digital Dollars are rewards for being part of the Zing World Membership Programme and are discretionary and subject to Zing World’s internal policies and procedures.

REFUND DIGITAL DOLLARS

Digital Dollars are not susceptible to wear and tear and unlike physical assets do not deteriorate in value. As a result, you may request a refund in the event that you wish to terminate your membership or if you are dissatisfied and no longer wish to hold Digital Dollars in your account with us. Unfortunately, we will have to charge a fee to process your refund. Should you wish to be refunded, select REFUND on the Zing World mobile application and we will confirm the applicable fees associated with your territory and once you have confirmed acceptance we will arrange to refund the amount approved.

DEFINITIONS AND INTERPRETATION

The following expressions have the following meanings:

Benefits Refers to the benefits available to members through the Zing World Membership Programme
Benefit rules Refers to the business practices that as set out in these Rules.
Business Partners Refers to Payment Facilitators that offer various products and Services to users from a network of retailers and eCommerce merchants and Payment Processors that facilitate the collection and payment of funds due by and to members.
Digital Cash Refers to Digital products that have a value linked to a stipulated fiat currency such as Digital Dollars where 1 Digital Dollar has a value of 1 US Dollar.
Digital Dollar Refers to a Digital Cash product linked to the value of the US Dollar.
Member The person contracting with Zing World and bound by these rules
Member activation date The date when a member joins the Zing World Membership Programme.
Member Rules Refers to the terms and conditions that are set out in the Member Rules and form the basis of our relationship.
Programme Refers to the Zing World Membership Programme.
Zing World Account Refers to your account with Zing World in which your Digital Cash value and all transactions affecting the value of your Digital Cash is reflected.
Zing World Membership Programme Refers to the Membership Programme administered by Zing World Limited.