This memorandum of Understanding (the “MOU”) is entered into on the date payment for the Equity ticket is made. The effective date as listed on the ticket purchase receipt by and between:

Seller: Boldcashers Sweden: 200675538

Location: Torsbygatan 1 Farsta Sweden

Contact: Peter Knox Sengendo | +46-762878767 | +256 775036603

Buy: Name registered on Cash Chat Wallet ID | Request ID before buying equity

Contact: Mobile number

Witness:

Cash Chat Limited CEO | Asanasio Namanya

Collectively reffered to as the “Parties.”

WHEREAS, the seller is selling 50 thousand equity tickets representing 5% of the shares held in Cash Chat Limited, a company duly registered and existing under the laws of Uganda.

WHEREAS, the buyer desires to purchase a portion of said number of tickets from the seller;

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

  1. SALE OF EQUITY TICKETS: -The seller agrees to sell and transfer a number of equity tickets selected and paid by the buyer, to the owner of the wallet ID (Sponsor code) that is provided or shall be provided by buyer. This MOU is limited to sell of Equity limited to the total number of 50000 Equity tickets. Which represent a 5% total stake in Cash Chat Limited.
  2. CONSIDERATION: -The total consideration for the sale of each Equity ticket is $50 Inc VAT. Payable by the Buyer to the Seller.
  3. REPRESENTATIONS AND WARRANTIES: -The Seller represents and warrants that they are the legal owner of the shares and have the authority to sell the same. -The shares are sold free and clear of any liens, encumbrances, or restrictions. Boldcashers( SP: 200675538) shall on receipt of the dividends from Cash Chat Limited, allocated a portion relative to the total number of equity tickets owned by the buyer.
  4. GOVERNING LAW: -This MOU shall be governed by and construed by the laws of Sweden and Uganda.
  5. CONFIDENTIALITY: -Both Parties agree to keep confidential all information related to this transaction.
  6. WITNESS: – Each Party acknowledges the receipts of the undersigned as evidenced by a receipt that from Stripe that shall be sent to the buy….

Cashless Transactions

Cashless transactions refer to the exchange of goods, services, or financial assets without the physical exchange of currency notes or coins. Instead, the transaction is completed using digital or electronic means. There are several mechanisms and technologies that facilitate cashless transactions, including:

1. **Credit and Debit Cards:** These are plastic cards issued by banks or financial institutions that allow users to access their funds for transactions. When a card is used, the card reader at the merchant’s point contacts the card issuer electronically to authorize the transaction. Once authorized, the transaction amount is transferred from the customer’s account to the merchant’s account.

2. **Electronic Bank Transfers:** These include various forms of bank-to-bank transactions, such as wire transfers, online banking payments, and direct deposits. In these cases, the customer initiates a transfer of funds from their account to another account (which could belong to a business or another individual) using the bank’s online portal or app. The transaction is processed through the banking system.

3. **Mobile Payments and Wallets:** Mobile payment systems and e-wallets allow users to store payment information on their mobile devices or within an app. Payments can be made by tapping the phone against a compatible point-of-sale system (using NFC technology), scanning a QR code, or through in-app transactions. Examples include Apple Pay, Google Wallet, Samsung Pay, and various other mobile wallets.

4. **Digital Currency and Cryptocurrencies:** Digital currencies, including cryptocurrencies like Bitcoin and Ethereum, represent another form of cashless transaction. Users can transfer these digital assets to others as a form of payment, which is recorded on a distributed ledger, commonly known as a blockchain. These transactions bypass traditional banking systems.

5. **Payment Services and Online Platforms:** Services like PayPal, and Stripe allow users to send and receive money online. Users can link their bank accounts or cards to these platforms to easily transfer money to others or pay for goods and services. Transactions are facilitated by the service provider, which acts as an intermediary.

For now it’s the way to go. We are also focusing on cash in a cashless economy for not only Uganda but also in Africa as well. We have also put in wallet, you can now transfer money within a wallet in the same app. So you don’t need to move with your cash. You just go with your app and your money on the wallet, and you can withdraw from any country that you want. So it’s that’s the way to go and there’s no other way right now.

Cashless transactions offer convenience and speed, but they also require robust security measures to protect against fraud and un authorised access. This includes encryption, multi-factor authentication, and continuous monitoring of transaction patterns. The Cash Chat Wallet has already integrated all these security features in addition to more security features more compliant to the African society.

**How They Work:**

– **Authorisation:** The process starts with the payer initiating a transaction using one of the methods mentioned. The payment system verifies the payer’s credentials and checks if there are sufficient funds or credit available.

**Processing:** Once authorised, the transaction details are processed through the respective payment network (Visa, MasterCard, SWIFT, blockchain, etc.). This network facilitates the communication between the payer’s bank, the payment system, and the payee’s bank.

– **Settlement:** Funds are transferred from the payer’s account to the payee’s account. This may happen almost instantaneously (as in mobile or card payments) or might take a few days (as in the case of bank transfers or checks).

– **Confirmation:** Both parties receive a confirmation that the transaction has been completed. This may be in the form of a digital receipt or a transaction ID.

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