"Allocatable Income "
means gross income less statutory deductions such as income tax, unemployment insurance and maintenance payments, less Necessary Expenses as defined herein below;

"Account Number "
any unique identifier assigned to one data subject; or jointly to more than one data subject, by a financial or other institution which enables the data subject to access his/her/its own funds/credit facilities or which enables a data subject to access joint funds/credit facilities.

"Credit Cost Multiple "
means the ratio of the total cost of credit to the advanced principal debt, that is, the total cost of credit divided by the advanced principal debt expressed as a number to two decimal places;

"Credit Profile "
means the consumer's payment profile, including adverse information on a credit record held by a credit bureau;

"Discretionary Income "
means Gross Income less statutory deductions such as income tax, unemployment insurance fund, maintenance payments and less Necessary Expenses (at a minimum as defined herein); less all other committed payment obligations including such as may appear from the credit applicant's credit records as held by any Credit Bureau which income is the amount available to fund the proposed credit installment;

"Gross Income "
means all income earned without deductions from whatever source;

"Joint Consumers "
means consumers that are co-principal debtors who are jointly and severally liable with regard to the same credit agreement and apply jointly for the credit agreement excluding the surety or a credit guarantor under a credit guarantee;

"National Credit Regulator "
means the National Credit Regulator established in terms of section 12 of the Act;

"Necessary Expenses "
means the consumer's minimum living expenses as determined in accordance with regulation 23A(9)together with any other necessary living expenses excluding debt repayments;

"The Act "
means the National Credit Act, 2005 (Act No.34 of 2005) as amended. Amend the Regulations made in terms of the National Credit Act, 2005, as published in Government

"POPIA"
“Personal information” includes, but is not limited to information relating to race, gender, marital status, national, ethnic, or social origin, colour, age, physical or mental health, well-being, disability, religion, belief, culture, language, and birth of the person; the education, medical, financial, criminal and employment history of the person; any identifying number, symbol, e-mail address, physical address, telephone number, online identifier, or other particular assignment to the person; biometric information of the person; the name of the person if it appears with other personal information relating to the person or if the disclosure of the name itself would reveal information about that person.

“Data subject ”
The person to whom personal information relates.

“Operator”
Means a person who processes personal information for a responsible party in terms of a contract or mandate, without coming under the direct authority of that party.

“Person”
Means a natural or a juristic person.

“Processing”:
Means any operation or activity or any set of operations, whether or not by automatic means, concerning personal information, including the (a) collection, receipt, recording, organisation, collation, storage, updating or modification, retrieval, alteration, consultation or use; (b) dissemination by means of transmission, distribution or making available in any other form; or (c) merging, linking, as well as restriction, degradation, erasure or destruction of information.

“Responsible party ”
Means a public or private body or any other person which, alone or in conjunction with others, determines the purpose of and means for processing personal information.
"Special Personal Information"
Any information about (a) the religious or philosophical beliefs, race or ethnic origin, trade union membership, political persuasion, health or sex life or biometric information of a data subject or
(b) the criminal behaviour of a data subject to the extent that such information relates to
(i) the alleged commission of a data subject of any offence; or
(ii) any proceedings in respect of any offence allegedly committed by a data subject or the disposal of such proceedings.

MaxMoney Definitions

MaxCollect
Payment collection module used for payment collection and payout integrations with 3rd party service providers.

MaxAVR
Real time account verification through a 3rd party service provider.

MaxConsumer
Credit Enquiries module used for credit check integrations with 3rd party service providers.

Global Loan Protection (GLP)
Credit Insurance module used for insurance products of 3rd party service providers.

MaxUp
Voluntary insurance and other value add products of 3rd party service providers.

MaxMail
Email module.

MaxSMS
SMS module.

MaxMedia
Client photo / image / picture module.

MaxAssist
MaxMoney chatbot.

MaxApp
MaxMoney cell phone application.

MaxIntegrate
MaxMoney API.

MaxChat
Messaging module.