privacy policy
We take the collection of your personal information seriously. Moni Market Financial Services Limited and its affiliates (referred to us “Moni Market”, “we”, “our” or “us”) understand that if you provide personal information to us, you are trusting us to use the personal information for proper purposes. You have our assurance that we will take all reasonable steps to ensure that the personal information you provide to us is protected from misuse or unauthorised disclosure. Personal information collected through our Website, any loan application submitted to us, any loan you hold with us or through any communications you have with us will be held by us in accordance with our privacy policy.
NAVIGATING THIS POLICY
Click on the below links to jump to the relevant section:
- what personal information do we collect?
- how do we collect the personal information?
- how do we use the personal information?
- who we disclose the information to?
- cookies
- security
- marketing
- access to information
- what about links to other websites?
- policy changes
- our contact details
what personal information do we collect?
When you use our Website, apply for or hold a loan from us, or otherwise make enquiries of us, we may request you provide us with personal information, such as your name, email address, telephone numbers, credit card details, bank account details, details of your employment (including income levels and employer’s name), and driver licence number (which is voluntary for you to provide to us, unless we require it as part of the terms of your loan application and/or loan). All the personal information you provide us with your loan application will be collected and stored by us for the purpose of us assessing your application and, if your application is successful, for our administration and any enforcement of the loan. If you fail to give us any personal information we request, we may decline your loan application, restrict the services or products accessible to you and/or be unable to respond to your enquiries.
When you visit our Website we may also collect more personal information, such as the address of your Internet service provider, the name of the web page directing you, and your activity on our site.
We may also collect personal information about you from third parties, such as credit reporters, credit agencies, referees, your present, future or former employer, any other creditor you have, and any former creditor.
When you provide us with your personal information, you are consenting to our use of such information and our right to disclose it to third parties.
how do we collect the personal information?
We collect personal information in the following ways:
- Directly from you when you:
- complete and submit to us any loan application form;
- request us to provide our products and services or make an enquiry about our products and services; or
- subscribe to any communications from us or a third party who we have dealings with such as updates, publications or newsletters.
- In the course of providing our products and services to you.
- Directly from you or from third parties acting on your authority or who you authorise us to make contact with about you.
- Publicly available information searched as part of carrying out checks or as part of the provision of our products or services to you.
- The agents and service providers that we may engage to assist us with fulfilling any of the purposes recorded in this Privacy Policy.
how do we use the personal information?
We may use your information:
- to process your loan application;
- to provide you with services so that we can meet our contractual obligations to you;
- to verify your identity;
- to contact you or reply to your enquiries;
- to conduct credit and other checks concerning your identity and creditworthiness, for debt collection purposes, for our own internal purposes (such as risk management, staff training and billing);
- to help us to develop our Website to be more available and user friendly to our customers;
- to administer your loan with us and for any other use which you may authorise from time to time;
- where you are in default in making loan payment to us (including interest payments), to contact your employer to advise your employer of your default and to have money deducted from your wages to meet your loan payments;
- to communicate with you about our products and services and the products and services of our affiliates and of third parties that we consider may be of interest to you;
- as reasonably necessary for our business operations and purposes; and
- to make your information available to third parties who may have products or services that we consider may be of interest to you, or who may wish to offer to provide products or services to you.
who we disclose the information to
We may disclose your information to our affiliates for any of the purposes outlined above. In addition, in providing our products and services to you, or in carrying out any of the other functions mentioned above, we may also disclose your personal information to our contractors or agents, and any other organisations, as follows:
- Where we are under a duty to comply with the law.
- Where we need to enforce any of our Credit Agreement with you including, our General Terms and Conditions.
- To reputable third parties to enable statistics to be gathered about our customers and related site functions. It is possible that those statistics will identify you.
- To any assignee, transferee, potential assignee or potential of our transferee of our interest in your loan for the purpose of assigning or transferring any rights we have under any loan with you, or any associated rights.
- Where you have consented to receiving promotional materials, to any third party that wishes to contact you in respect of services or products we, or they, think may interest you.
- Where we are either buying a business or assets or selling our business or assets, including our Website.
Additionally, we may use other companies and individuals to perform services on our behalf, such as sending correspondence (including mail and emails), processing payments (for example, our bank) and conducting any loan collection or enforcement services. They will have access to your personal information needed to perform the relevant services, but we will not authorise them to use your information for any other purposes.
We may also disclose information we hold about you to credit reporting bodies for the following purposes:
- assessing your credit capacity, eligibility or history in connection with an application for a loan;
- collecting payments from any loan you hold with us; and
- managing our credit relationship with you.
A credit reporting body may also use your information for other credit reporting services, including the provision of positive or comprehensive credit reporting and the provision of that information to the credit reporting body’s customers.
cookies
Our Website uses a technology called cookies. A cookie is a small element of data that our Website may send to your computer. Any cookie is typically stored on your computer’s hard drive and permits our Website to recognise you when you return. Our use of cookies helps us to provide you with a better service when you use our Website by allowing us to understand what areas of the site are of interest to you. You may configure your web browser to not accept cookies, although you may not have access to some websites as a result.
security
We take security seriously and have taken steps to ensure your personal information is safeguarded against loss, interference and unauthorised access, modification and disclosure, and misuse. We use secure servers and industry standard data encryption whenever we are receiving or transferring your information online.
marketing
By making a loan application to us you consent to us contacting you by email, SMS or telephone. We will not be responsible if any message is received by another person who has access to your computer, mobile phone or telephone. You may elect not to receive marketing material by clicking unsubscribe or by contacting us on feedback@monimarketpng.com
access to information
You may request access to any of your personal information we hold. You may request that the personal information we hold about you be corrected. If you wish to do this, you can contact us on the email provided.
what about links to other websites
Our Website may contain links to other sites that are not under our control. These websites have their own privacy policies and we encourage you to review them. We have no responsibility for linked websites, or their communication with you, and provide them solely for your information and convenience. If you do not wish to receive marketing material from another website provided, you will need to contact the administrator of the relevant website.
policy changes
We reserve the right to change this Privacy Policy at any time and if we do so we will post an updated version of this Privacy Policy on our Website.
our contact details
If you have any queries about this Privacy Policy or personal information we have collected please contact:
Email:
feedback@monimarketpng.com
warning about borrowing
Moni Market specialises in providing fast little loans. You can borrow K100 to K2000 for between 2 and 12 weeks.
When you get a loan with Moni Market, you know exactly what you are getting. We promise there are no hidden costs, no small print and no nasty surprises. What you see is what you get.
Our loans have been designed to provide quick, clear and fair finance for people who need help making ends meet.
Moni Market Financial Services Limited is a registered company operating within PNG.
The Credit Agreement (Loan Agreement) will be governed by the laws of PNG.
- Establishment Fee – K25
- K28 extension fee should you require additional time to repay
- Interest is charged at 25%, 40%, per day on the outstanding balance of the loan based on the original loan size
- K30 wage deduction fee if you fail to repay your loan
- K20 default fee if you fail to make your payment
We will get in touch with you if any of your payments dishonour and if you have a genuine reason we will do everything we can to help you. If you are able to make the payment within 36 hours we will not charge a default fee of K20.
If we have not been able to come to some agreement after ten days, or you have dishonoured more than once, we will arrange to recover the loan by wage deduction.
If we still have not been paid in full we will lodge a default against your credit report, this may be followed by legal action.
If you have experienced some form of hardship e.g. sickness, redundancy, family bereavement—between taking your loan and your payment we will look to put a new schedule together without adding additional fees.
If you fail to repay your loan it will negatively affect your credit rating.
Moni Market loans are only suitable to improve short term cash flow requirements.
Any advice provided is generic in nature and may not suit your individual needs. If you are already in debt we would advise you to seek professional budgeting advice before taking out a Moni Market loan.
If you have any questions about our loan, or do not understand what you are signing you should seek independent legal advice.