Scope of Authorization
TechTack is authorized solely as SUPER-SPACE's service provider for the publication and technical operation of the "Pesohere" application on Google Play.
Operational Control
All lending activities, including but not limited to:
(a) The provision of unsecured personal cash loans;
(b) Setting loan terms (minimum 3-month tenure); and
(c) Maintaining maximum 30% APR;
shall remain under SUPER-SPACE's exclusive control and responsibility.
Prohibited Activities
The "Pesohere" application shall not be used for:
(a) credit card debt consolidation services;
(b) corporate or business lending activities;
(c) cross-border lending to non-Philippine residents;
(d) any form of gambling-related financing or betting transactions; or
(e) any cryptocurrency-related financial services, including but not limited to crypto-backed loans or digital asset transactions.
Rights and Obligations
UPER-SPACE shall
(a) Perform quarterly audits of loan pricing structures, debt collection practices, and customer complaint records.
(b) Conduct quarterly reviews of loan pricing, collection records, and user complaint data.
(c) Maintain adequate cybersecurity measures to protect borrower data and ensure system integrity of the "Pesohere" platformd) Monitor TechTack’s compliance with the Truth in Lending Act (RA No. 3765) and SEC regulations.
(d) Promptly notify TechTack of any changes in lending regulations or SEC requirements affecting the "Pesohere" application.
TechTack shall
(a) Application Development & Operation:
- Strictly adhere to SUPER-SPACE’s guidelines during development, publication, and operation.
- Ensure compliance with Philippine laws and regulatory requirements.
- Obtain all necessary platform approvals (Google Play, etc.) before launch.
(b) Data Management & Security:
- Store user data exclusively on servers located within the Philippines (server addresses must be disclosed and registered).
- Prohibit unauthorized collection of user personal information.
- Implement encryption and access controls for all sensitive user data.
(c) Compliance Monitoring:
- Conduct quarterly compliance audits and provide reports to SUPER-SPACE.
- Maintain complete records of all regulatory filings and correspondence.
- Immediately notify SUPER-SPACE of any regulatory inquiries or violations.
(d) Fraud Prevention:
- Verify borrower identities using SEC-approved methods.
- Monitor for and prevent fraudulent loan applications.
- Report suspicious activity to SUPER-SPACE
(e) Customer Support:
- Provide clear loan terms and conditions to all users.
- Maintain a toll-free helpline for borrower inquiries.