Terms of Service

1. Acceptance of Terms

Welcome to Peso Mate. These Terms of Service ("Terms") constitute a legally binding agreement between you ("Borrower", "you", or "your") and Peso Mate ("we", "us", or "our"). By downloading, installing, accessing, or using our mobile application and services (collectively, the "Service"), you agree to be bound by these Terms. If you do not agree to these Terms, please do not use the Service.

2. Eligibility Requirements

To use our Service and apply for a loan, you must:

• Be a Filipino citizen or a legal resident of the Philippines
• Be at least 18 years of age but not older than 65 years
• Have a valid government-issued identification document
• Have an active mobile phone number registered in your name
• Have a valid bank account or e-wallet in your name
• Have the legal capacity to enter into binding contracts
• Not be subject to bankruptcy proceedings
• Provide accurate and complete information during registration

We reserve the right to verify your eligibility and reject any application at our sole discretion.

3. Loan Terms and Conditions

3.1 Loan Amounts

Peso Mate offers loans ranging from ₱1,000 to ₱50,000. The specific loan amount you are eligible for will be determined based on your credit assessment, income verification, and our internal credit policies.

3.2 Loan Terms

Loan terms range from 91 days to 365 days. The specific term available to you will depend on the loan amount and your creditworthiness.

3.3 Interest Rates and Fees

Our interest rates comply with Philippine lending regulations and do not exceed the maximum rates allowed by law. Current rates include:

• Interest Rate: 0.05% - 0.1% per day, depending on loan term and creditworthiness
• Processing Fee: Up to 2% of the loan amount (one-time)
• Service Fee: Up to ₱500 per loan (one-time)
• Late Payment Fee: ₱200 per day of delay, maximum ₱3,000

The exact rates and fees applicable to your loan will be clearly disclosed in your loan agreement before you accept the loan.

3.4 Disbursement

Upon loan approval, funds will be disbursed directly to your designated bank account or e-wallet within 24 hours on business days. We are not responsible for delays caused by third-party payment processors or financial institutions.

3.5 Repayment

Repayment is due on the maturity date specified in your loan agreement. You may repay your loan through:

• Automatic debit from your registered bank account or e-wallet
• Manual payment via authorized payment channels
• Over-the-counter payment at partner establishments

Early repayment is allowed without penalty. Partial payments are accepted but do not extend the loan term or reduce late fees already incurred.

4. Application Process and Credit Assessment

When you submit a loan application, we will assess your creditworthiness using various factors including:

• Your credit history and credit score
• Income and employment verification
• Bank statements and transaction history
• Your relationship with Peso Mate (for returning customers)
• Information from credit bureaus and other financial institutions

We reserve the right to approve, reject, or modify any loan application. Loan approval does not guarantee future loan approvals. Each application is evaluated independently.

5. Borrower Obligations

As a borrower, you agree to:

• Provide accurate, current, and complete information
• Maintain the accuracy of your information by updating it promptly
• Use the loan for lawful purposes only
• Repay the loan according to the agreed terms
• Notify us immediately of any changes to your contact information
• Cooperate with our collection efforts if payment is overdue
• Not attempt to defraud or manipulate our systems
• Comply with all applicable laws and regulations

6. Late Payments and Collections

6.1 Late Payments

If you fail to make payment on the due date, late fees will apply as specified in Section 3.3. Additionally:

• Your account will be marked as delinquent
• We may report the delinquency to credit bureaus
• You may become ineligible for future loans
• Your credit score may be negatively affected

6.2 Collection Activities

In the event of non-payment, we may:

• Contact you via phone, SMS, email, or in-app notifications
• Contact your emergency contacts after reasonable attempts to reach you
• Engage third-party collection agencies
• Report the debt to credit bureaus
• Pursue legal action to recover the outstanding amount

All collection activities will be conducted in accordance with Philippine law and fair debt collection practices.

7. Account Security

You are responsible for maintaining the confidentiality of your account credentials. You agree to:

• Use a strong password and keep it confidential
• Not share your account with others
• Notify us immediately of any unauthorized access
• Be responsible for all activities under your account

We are not liable for any loss or damage arising from your failure to protect your account.

8. Intellectual Property Rights

The Service, including all content, features, functionality, software, and design, is owned by Peso Mate and is protected by international copyright, trademark, and other intellectual property laws. You may not:

• Copy, modify, or distribute our content without permission
• Reverse engineer or decompile our software
• Use our trademarks or branding without authorization
• Create derivative works based on our Service

9. Prohibited Activities

You may not use the Service to:

• Provide false or misleading information
• Impersonate another person or entity
• Engage in fraudulent activities
• Attempt to gain unauthorized access to our systems
• Interfere with or disrupt the Service
• Use automated means to access the Service without permission
• Violate any applicable laws or regulations
• Harass or abuse our staff or other users

Violation of these prohibitions may result in immediate termination of your account and legal action.

10. Disclaimers and Limitations of Liability

10.1 Service Availability

The Service is provided "as is" and "as available". We do not guarantee that the Service will be uninterrupted, secure, or error-free. We may suspend or terminate the Service at any time for maintenance or other reasons.

10.2 Limitation of Liability

To the fullest extent permitted by law, Peso Mate and its affiliates, officers, directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the Service, including but not limited to:

• Loss of profits or revenues
• Loss of data or information
• Business interruption
• Errors or inaccuracies in content

Our total liability for any claims related to the Service shall not exceed the amount you paid in fees during the 12 months preceding the claim.

11. Indemnification

You agree to indemnify, defend, and hold harmless Peso Mate and its affiliates from any claims, liabilities, damages, losses, costs, or expenses (including reasonable attorneys' fees) arising from:

• Your use of the Service
• Your violation of these Terms
• Your violation of any rights of another party
• Any false or misleading information you provide

12. Modifications to Terms

We reserve the right to modify these Terms at any time. We will notify you of material changes via email or in-app notification. Your continued use of the Service after such modifications constitutes acceptance of the updated Terms. If you do not agree to the modified Terms, you must stop using the Service.

13. Termination

We may suspend or terminate your access to the Service at any time, with or without cause or notice, including for:

• Violation of these Terms
• Fraudulent or illegal activity
• Non-payment of loans
• Providing false information

Upon termination, your right to use the Service ceases immediately, but your outstanding obligations (including loan repayment) remain in effect.

14. Dispute Resolution and Arbitration

Any disputes arising from or relating to these Terms or the Service shall first be resolved through good faith negotiations. If negotiations fail, the dispute shall be resolved through binding arbitration in accordance with the rules of the Philippine Dispute Resolution Center, Inc. (PDRCI).

The arbitration shall be conducted in Metro Manila, Philippines, and the language shall be English. The arbitrator's decision shall be final and binding.

15. Governing Law and Jurisdiction

These Terms are governed by and construed in accordance with the laws of the Republic of the Philippines. Any legal action or proceeding arising from these Terms shall be brought exclusively in the courts of Metro Manila, Philippines, and you consent to the jurisdiction of such courts.

Our lending operations comply with:

• Republic Act No. 9474 (Lending Company Regulation Act of 2007)
• Republic Act No. 10173 (Data Privacy Act of 2012)
• Republic Act No. 8792 (Electronic Commerce Act of 2000)
• Bangko Sentral ng Pilipinas (BSP) regulations
• Securities and Exchange Commission (SEC) regulations

16. Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable.

17. Entire Agreement

These Terms, together with our Privacy Policy and any specific loan agreements, constitute the entire agreement between you and Peso Mate regarding the Service and supersede all prior agreements and understandings.

18. Contact Information

For questions, concerns, or complaints regarding these Terms or the Service, please contact us: