Terms of Service

1. Scope of Service

PayungMe operates as a licensed digital lending platform that facilitates the submission, evaluation, approval, and administration of loan applications offered by Gerbang Tunai Resources Sdn. Bhd., a duly licensed moneylender under the Moneylenders Act 1951 (Act 400). All loan facilities provided through the PayungMe platform are governed by a distinct and legally enforceable Loan Agreement, executed between the Borrower ("You") and Gerbang Tunai Resources Sdn. Bhd., in compliance with the Moneylenders (Control and Licensing) Regulations 2003. The Loan Agreement shall adopt the prescribed form under Schedule J of the Regulations for unsecured loans (or Schedule K for secured loans, where applicable), as mandated by the Ministry of Local Government Development (KPKT).

2. User Eligibility and Account Requirements

To access and utilise the PayungMe platform and to apply for any loan facility thereunder, the Applicant ("You") shall meet the following mandatory eligibility requirements:

• Citizenship: You must be a Malaysian citizen or a permanent resident of Malaysia and possess a valid MyKad issued by the National Registration Department (Jabatan Pendaftaran Negara).
• Age Requirement: You must have attained the minimum age of eighteen (18) years at the time of application.
• Residency: You must maintain a permanent residential address within Malaysia, which shall be declared and verified as part of the loan application process.
• Contact and Banking Details: You must possess a valid mobile phone number registered in Malaysia and maintain an active local bank account for the purpose of loan disbursement and repayment.
• Financial and Creditworthiness Criteria: You must satisfy the minimum income, credit score, and debt serviceability standards as determined by Gerbang Tunai Resources Sdn. Bhd. in accordance with its internal lending policies and credit assessment framework.

2.1 Account and Information Accuracy

• Duty of Accuracy: You are required to provide true, complete, current, and accurate personal, financial, and contact information at all stages of registration, onboarding, and loan application.
• Ongoing Obligation to Update: You shall promptly update Gerbang Tunai Resources Sdn. Bhd. of any change in your personal or financial circumstances that may affect your eligibility, creditworthiness, or loan servicing ability.
• Account Security and Confidentiality: You are solely responsible for maintaining the confidentiality and security of your login credentials, including your username, password, one-time password (OTP), and any authentication token provided by the platform.
• Right of Suspension or Termination: The Company reserves the absolute right to suspend, restrict, or permanently terminate your access to the PayungMe platform where it has reasonable grounds to believe that the information provided is false, inaccurate, incomplete, outdated, or misleading.
• Regulatory Compliance: All information provided by you will be collected, processed, and stored in accordance with the Personal Data Protection Act 2010 (PDPA), the Moneylenders Act 1951, and any other applicable laws and regulations of Malaysia.

3. Loan Application and Agreement

3.1 Loan Process

• Application Submission: All loan applications submitted through the PayungMe digital platform shall be deemed as an official request to obtain a loan from Gerbang Tunai Resources Sdn. Bhd.
• Assessment and Eligibility Verification: Each loan application shall undergo a comprehensive eligibility and creditworthiness evaluation, which may include verification of personal identity via eKYC, credit information retrieval from CTOS eCCRIS API, and evaluation of income and financial standing.
• Conditional Offer and Pre-Approval: If the preliminary assessment is satisfactory, the Applicant will receive a conditional approval or pre-approved loan offer.
• Issuance of Formal Loan Agreement: Upon acceptance of the conditional offer, the Applicant shall be provided with a formal Loan Agreement prepared in accordance with Schedule J or Schedule K as prescribed under the Moneylenders (Control and Licensing) Regulations 2003.
• Binding Agreement: The Loan Agreement shall take legal effect only upon digital execution by both parties.
• Right to Withdraw: Prior to execution of the Loan Agreement, the Applicant may withdraw or cancel the application at any time through the platform without incurring penalties.

3.2 Formal Loan Agreement and Statutory Compliance

All loans facilitated through PayungMe are unsecured loans (tidak bercagar), meaning no collateral is required from the borrower. The Loan Agreement shall be prepared strictly in accordance with the Moneylenders Act 1951 (Act 400) and the Moneylenders (Control and Licensing) Regulations 2003. The Loan Agreement may be digitally executed using secure and verifiable methods compliant with the Electronic Commerce Act 2006 and/or the Digital Signatures Act 1997.

3.3 Interest Rates and Statutory Compliance

All interest rates applicable to loans facilitated through the PayungMe platform shall strictly comply with the Moneylenders Act 1951 (Act 400) and the Moneylenders (Control and Licensing) Regulations 2003. No loan facilitated through PayungMe shall carry an interest rate exceeding the regulated statutory ceiling established under Malaysian moneylending regulations.

3.4 Borrower's Rights and Statutory Entitlements

• Right to Full and Accurate Disclosure: Each borrower shall be entitled to receive clear, complete, and non-misleading disclosure of all material information relating to the loan.
• Right to a Copy of the Loan Agreement: Upon execution of a loan, the borrower shall be provided with one (1) complimentary copy of the duly executed Loan Agreement.
• Right to Repayment Receipts: Borrowers shall be issued a valid and itemized receipt for each repayment made.
• Right to Informed Consent: No borrower shall be required or permitted to sign a blank or incomplete Loan Agreement.
• Right to Fair Treatment and Transparency: Borrowers shall be treated with fairness, dignity, and transparency at all times.
• Right to Regulatory Recourse: Borrowers may lodge complaints directly with Gerbang Tunai Resources Sdn. Bhd. or escalate to KPKT's Bahagian Kawalan Kredit Komuniti (BKK).

3.5 Stamp Duty Compliance and Loan Disbursement

In accordance with Section 16 of the Moneylenders Act 1951 and the Stamp Act 1949, every Loan Agreement must be duly stamped before any disbursement of loan funds can be effected. Loan proceeds shall only be disbursed after the Loan Agreement has been stamped through the LHDNM STAMPS system.

4. Repayment Obligations and Payment Procedures

4.1 Repayment Obligations and Methods

The Borrower acknowledges and agrees that all repayments of the loan facility shall be made strictly in accordance with the repayment schedule stipulated in the Loan Agreement. All loan repayments shall be effected only through approved and secure payment channels designated by PayungMe, which may include FPX, online banking transfers, auto-debit instructions, e-wallet transfers, or manual bank transfers.

4.2 Default Interest and Late Payment Charges

In the event the Borrower fails to make any scheduled repayment by the due date, such non-payment shall constitute a default. Default interest shall be calculated on a simple interest basis and shall accrue only on the overdue amount for the period of delay. The applicable rate shall be in accordance with the limits prescribed under the Moneylenders (Control and Licensing) Regulations 2003.

4.3 Collections and Legal Action

In the event of any non-payment or default, Gerbang Tunai Resources Sdn. Bhd. shall have the full legal right to take all necessary steps to recover outstanding amounts. All collection and recovery activities shall be conducted strictly in compliance with the Moneylenders Act 1951 and the Guidelines on Responsible and Fair Debt Collection Practices issued by KPKT.

5. Data Privacy and Security

5.1 Personal Data Protection and Processing

Gerbang Tunai Resources Sdn. Bhd. collects, processes, stores, and safeguards all personal data of its Users strictly in accordance with the Personal Data Protection Act 2010 (PDPA). By accessing or using the PayungMe platform, you expressly acknowledge and consent to the Company collecting, processing, using, and retaining your personal, financial, and transactional data for purposes directly related to the provision of digital moneylending services.

Data collection purposes include:

• Identity verification and authentication (including eKYC processes)
• Credit assessment and scoring through CTOS and CCRIS
• Loan application processing and account management
• Prevention and detection of fraud and money laundering
• Compliance with regulatory reporting obligations
• Communication and notification relating to your loan or account

In accordance with the PDPA, you have the right to request access to your personal data, request correction of inaccurate data, withdraw consent for processing, and make inquiries or lodge complaints regarding data processing practices.

5.2 Security

PayungMe implements and maintains robust security measures in full compliance with the Online Moneylending Guidelines issued by KPKT, the Personal Data Protection Act 2010, and relevant cybersecurity standards. The Company adopts industry-accepted security controls, including encryption of all data in transit and at rest, multi-factor authentication, continuous monitoring, and regular security audits.

6. Prohibited Conduct and Indemnity

6.1 Prohibited Use

You agree not to use the PayungMe platform for any purpose that is unlawful, fraudulent, unethical, or in contravention of any applicable Malaysian law. You expressly agree not to:

• Provide any false, inaccurate, misleading, or deceptive information
• Engage in any fraudulent, deceptive, or unlawful conduct
• Use the platform to launder money or finance terrorism
• Interfere with or compromise the security of the platform
• Infringe upon any intellectual property rights
• Impersonate any person or entity
• Circumvent or abuse the loan process or platform functionalities

6.2 Indemnity

You hereby agree to fully indemnify, defend, and hold harmless Gerbang Tunai Resources Sdn. Bhd., PayungMe, and their respective directors, officers, employees, and agents from and against any and all claims, demands, liabilities, losses, damages, costs, and expenses arising from your breach of these Terms, misuse of the platform, violation of applicable laws, or any false or fraudulent information provided.

7. Governing Law and Dispute Resolution

7.1 Governing Law and Regulatory Compliance

These Terms and Conditions shall be governed by and interpreted in accordance with the laws of Malaysia, including the Moneylenders Act 1951, the Personal Data Protection Act 2010, the Electronic Commerce Act 2006, the Digital Signatures Act 1997, and the Consumer Protection Act 1999. All disputes shall fall under the exclusive jurisdiction of the courts of Malaysia.

7.2 Complaints, Dispute Resolution, and Jurisdiction

If you have any concerns or complaints regarding our lending practices or services, please contact our Customer Service Department at support@payungme.my. All complaints will be acknowledged within seven (7) business days and resolved within twenty-one (21) business days.

Should you remain dissatisfied, you may escalate the matter to KPKT's Bahagian Kawalan Kredit Komuniti (BKK) at bkk@kpkt.gov.my or +603-8891 4351/4352.

Any dispute arising from these Terms shall be subject to the exclusive jurisdiction of the courts of Malaysia and governed by the laws of Malaysia.

8. Amendments and Contact

8.1 Amendments, Updates, and Regulatory Compliance

PayungMe and Gerbang Tunai Resources Sdn. Bhd. reserve the right to amend, modify, or update these Terms and Conditions at any time to comply with regulatory changes, operational improvements, or applicable laws. Any amendments shall take effect upon publication on the PayungMe platform. Your continued use of the platform after amendments constitutes deemed acceptance of the revised Terms.

8.2 Contact Information and Legal Notices