Terms and Conditions for the use of "Wave"

The purpose of these general conditions of use hereafter the "GCU " is to define the terms of use of the " Wave " service, offered by Wave Transfer Limited, a limited company company incorporated under the laws of the republic of The Gambia, hereinafter referred to as “Wave”.

Wave  provides the technical platform and a network made up of sub-agents and merchants for the management of business operations and the distribution of electronic money through the " Wave " service. Wave will issue Electronic Money and enter into contracts with the network of sub-agents and merchants it will canvas.

The user of the Wave service, hereinafter referred to as the Customer expressly undertakes to comply with these GCU as well as all subsequent modifications that may occur in connection with the use of the Wave service.

The Wave GCU hereinafter "the Agreement" defines the conditions under which Wave will provide Electronic Money services and mobile applications to you upon request. These conditions affect your rights and it is your responsibility to read them carefully. By accessing and using Wave's electronic money application, you agree to the terms and conditions of this agreement.

These GCU form the Agreement between Wave and the user of the Wave App. The act of registering and using the Wave application means that you expressly agree to accept and be bound by this Agreement. If you do not agree with the terms and conditions of this contract set out below, please do not access the Wave app. 

The Customer’s subscription to the Wave service or the download of the Wave mobile application implies acceptance of these GCU. These can be modified if necessary, by Wave. The  continued use of the Wave service after such amendment will be considered as tacit acceptance of the changes made by Wave.

  1. Definitions

The words "you" and "your" refer to the person who accepts the terms and conditions of this Agreement.

The words " Wave ," "us" and "our" designate Wave Transfer Limited , a company registered in The Gambia.  The word " Wave " also refers to the name of the mobile application .

Wave Money ": electronic money issued by Wave Transfer Limited

Wave Agent": a sub-distributor service provider duly authorised by Wave..

“ Customer ” or “ Holder ” or “Subscriber” or “User”: any mobile phone user who chooses to use the Wave service;

Transaction ": transactions performed via the Wave service ;

Electronic Money ": a monetary value representing a claim on Wave which is stored in an electronic form, including magnetic; issued without delay against the remittance of funds in an amount which is not less than the monetary value issued and accepted as payment by natural or legal persons other than the issuer. It can be used to carry out transactions without involving bank accounts;

PIN code ": personal and secret 4-digit unique and specific code, chosen by the Customer during the procedure for activating his electronic wallet on his cell phone.

Beneficiary”: refers to the person you designate to receive the funds from the Wave Money Transfer .

SMS " means a short message service consisting of a text message.

Wave Account " means the unique electronic money account associated with any Customer of the Wave service , containing information essential to the identification of the holder and accessible through the mobile Wave Application on your mobile phone.

Identity document ": valid national identity card, passport and voter’s card for Gambian nationals or alien card or passport for foreigners. 

  1. Scope

This Agreement is applicable to electronic money distribution services provided by Wave.

  1. Wave service registration conditions

3.1  Use of the Wave service is subject to the identification of each customer on presentation of a valid identity document, as defined under The Gambian applicable legislation and regulations. You agree to provide complete and accurate information as part of the registration process and you also agree to update this information in a reasonable or necessary manner to keep information complete and accurate at all times.   

3.2 The use of Wave services is granted subject to our ability to verify your identity. If you do not provide accurate and complete information when you register, when you request a mobile transfer payment or when making a deposit or withdrawal, we have the right to prohibit you from using the Wave services or refuse to process the service request. In addition, we draw your utmost attention to the fact that if you do not provide exact and complete information when registering or when requesting a transfer, you may cause errors in your requested mobile transfers for which we shall NOT be held liable.  

3.3 You authorize Wave to request a credit report on you and / or to obtain information from other third parties and financial institutions concerning you or the Beneficiary. Wave reserves the right to ask to check your registration information and any other information in connection with a request for services but is under no obligation to do so. You acknowledge that Wave relies in good faith on the information you provide.   

3.4 Each time you access Wave services, you acknowledge that you have confirmed the accuracy and completeness of all registration information. provided to Wave.

3.5 By using the Wave service, you hereby accept to be subject to the transaction limits as below:

  • KYC1 - 20,000 GMD for balance and 30-day inflow limit (deposits and received transfers)

  • KYC2 - 200,000 GMD balance limit and 1,000,000 30-day inflow limit

3.6. In all cases above mentioned, the maximum transaction counts should not exceed the maximum daily limits.

3.7. The limits set-forth above may be amended from time to time, pursuant to any modifications brought to the applicable laws and regulations. Wave would then inform the Customer of such changes which will become effective per the provisions of the laws and regulations.

  1. Description of Wave Money services

Wave services can be used to create and access an electronic wallet on your mobile phone. Activating the Wave Account credited with Electronic Money allows you to perform the following operations:

4.1 Cash deposit / withdrawal from any Wave Agent;   

4.2 Money transfer to any other person via mobile phone;   

  1. Wave Accounts

Wave accounts are opened using the Mobile Wave application  and with the intervention of a Wave agent for identity verification. To become a Wave user, Wave customers  will be subject to the requirements of the Electronic Money Issuer.  Downloading the  Wave app and signing up for a Wave mobile wallet does not create a checking account or any other form of bank account for you or other beneficiaries with Wave or one of its sub- distributors.

  1. P2P mobile money transfers

6.1 To manage your money securely there are transactional and daily limits on your electronic wallet. These limits comply with the prescribed law.  You can access the funds available in your wallet at any time using the Mobile Wave app . You must authorize your transactions with your secret PIN code that you create when you register, or by any other method that we may require from time to time.The balance of your electronic wallet may not at any time exceed your mobile wallet limit in accordance with the provisions of clause 3.5 above.   

6.2 You agree to pay for the amount of money transfer fees and other charges for each transfer initiated or requested using the Wave Application. By requesting a mobile money transfer through the App, you authorize Wave to charge your mobile wallet for the requested transfer amount and applicable service charges. You understand and acknowledge that Wave has no obligation to process or effect a requested transfer if Wave is prevented for any reason from obtaining funds from your mobile wallet for the requested transfer amount and charges.   

6.3 You represent and warrant that any information you enter on the Wave application regarding mobile money transfer is accurate and complete. When processing mobile transfers, Wave will rely on the registration information and the mobile money transfer information you provide. You acknowledge that any error(s) in the information, including incorrect identification of the beneficiary (ies), errors and inconsistencies in account numbers are your full and entire responsibility and that Wave will have no responsibility for the execution of a mobile money transfer based on inaccurate or incomplete information provided or entered by the User.   

6.4 Wave reserves the right to establish specific identification and verification requirements for a Beneficiary so that they can receive funds from a mobile money transfer, subject to respecting your rights and those of the Beneficiary with regard to the protection of personal data and within limits authorised by the regulations in force in the fight against corruption, money laundering and the financing of terrorism.  You expressly agree that Wave may rely in good faith, without further investigation, on identifying information or documentation provided by you or a Beneficiary, including any code or number identifying the mobile money transfer, when paying funds to the Beneficiary. You acknowledge and agree that Wave has the right to refuse to deliver payment to the payee if Wave cannot verify the identity of the Beneficiary. As long as it is clearly specified in this Agreement that Wave  has  the right to establish specific identification and verification requirements, the inability of the Beneficiary to comply with such requirements provides a reason for Wave to have the right to refuse the issuance of mobile money transfer.   

6.5 Wave has the right to reject your money transfer request,or refuse to complete a mobile money transfer request or impose a limitation on your mobile money transfer, without cause or notice. Without limiting the foregoing, Wave may suspend, delay, or reject your mobile money transfer request:   

(A) if the value of one or more of your mobile money transfer requests exceeds any transfer limits established for Wave services;

(B) if Wave is unable to charge your Mobile Wallet for the requested mobile money transfer amount and associated charges;

(C) if your request is incomplete or imprecise;

(D) if Wave is unable to confirm your identity or verify any registration or beneficiary information, including the identity of the Beneficiary;

(E) whether Wave has any suspicion of fraud or irregular or illegal acts relating to the requested transaction;

(F) if Wave and / or its agents  are unable to accommodate your request for any reason; or

(G) for any other reason Wave in its sole discretion deems appropriate or necessary.

You understand and agree that if your mobile money transfer request is rejected for any reason, you will be notified of the rejection by SMS - text message , or on your next online session, or by email, or by any other reasonable means of notification. 

Wave reserves the right to prevent a Customer that has been involved or seriously suspected to have been involved in any fraud, illegal action or gross breach of the provisions of these GCUs from using WAVE services until further notice.

You fully agree that if Wave refuses to complete a mobile money transfer request for any of the reasons set out in section 6.5 above, Wave has the right to be reimbursed for any fees or expenses and has the right to retain any authorized charges it may have imposed in connection with the mobile money transfer you requested.

6.6 If Wave is unable to complete the disbursement of the mobile transfer money to the beneficiary because you provided incorrect beneficiary information, such as an incorrect phone number or any other error , you will be responsible for any charges, fees, expenses and consequential losses. Wave undertakes to return the mobile money transfer to you, less any applicable processing costs, losses resulting from rate fluctuations, service charges and currency exchange commissions where applicable.   

6.7 If you transfer funds to a recipient who does not have a Wave account, Wave will send the recipient an SMS containing a one-time code to enable them to cash the value sent to them. If the recipient has not cashed their voucher within 15 days, Wave shall proceed with the cancellation of the transfer and funds will be returned to you.

  1. Security and unauthorized use

7.1 In order to ensure the confidentiality of access to the Wave service , the identification procedure is based on the composition of a personal and secret 4-digit code (“PIN code”) unique and specific, chosen by the Customer during the procedure for activating their electronic wallet. The validation of each Transaction must be confirmed by this PIN code. The confirmation of a transaction by this code irrevocably exonerates Wave  from all liability.   

7.2 You are responsible for protecting your PIN, which must be kept secret, and for all transactions that take place on your wallet with your PIN code. It is recommended that you do not communicate your PIN code. It is recommended that you do not communicate this PIN code to third parties; it should be kept very confidential and should never be written on a document. The User must ensure that the PIN code is always dialed out of sight of any individual. Failure to comply with these instructions irrevocably and exonerates Wave  in the event of fraudulent use of this code,     

7.3 If at any time you believe or know that your cell phone or PIN has been stolen or compromised, you can reach our customer service center by the following means: contact@wave.com.   

7.4 We will block the PIN code within a reasonable time. You will be responsible for all transactions that have occurred in your electronic wallet upto the date of blocking your account PIN code.

7.5 If you dispute that any purchase or withdrawal charged to your electronic wallet was authorized by you, you shall prove that it was not authorized by you. Our records will be considered accurate unless proven otherwise.   

  1. Wave account closure

8.1 The closure of your Wave account is subject to an express request from you addressed to Wave or its agents by any means.   

8.2 We may close your Wave account , restrict activity on your account or suspend access to your account if we suspect that your wallet is being used fraudulently for illegal activities or if we are asked for the purpose of complying with the law or if you are in breach of your Agreement or to protect our interests.   

8.3 We may also close your Wave account, subject to an express request from you addressed to Wave UG or our Agents, in the event that you are no longer the owner of the telephone number registered to your account. For the refund of any remaining funds in that account, please contact us at 

  1. Availability of the Wave mobile app

The Wave mobile application is available 24 hours a day, 7 days a week, 365 days a year. Typically, your designated Beneficiary is paid instantly through the Wave mobile application. If ever there is a situation where your transaction is not delivered instantly to the designated recipient, we will contact you to keep you informed about the delay.

  1. Delays or non-fulfillment of Mobile Money Transfer Request.

You agree that Wave will not be responsible for any delay, failure to perform, or error in the execution of your mobile money transfer request due to circumstances beyond Wave's control , whether caused by strikes, power outages, equipment malfunction, acts or omissions of an intermediary bank, war, riots, government or judicial orders, work stoppages or similar events or circumstances. You also agree that Wave may refuse to process or delay processing any request if it is contrary to any guideline, rule, policy or regulation of regulatory and / or government authorities and any fund transfer system. 


  1. Error resolution procedure and cancellation policy

For error resolution, transaction cancellation, questions, complaints or a written explanation of your rights, contact us at contact@wave.com.

You have the right to contest errors in your transactions. There is no charge for this service. If you believe there is an error, contact us within 180 days and provide us with your name, contact details, recipient's name, date of transfer, as well as the reasons why you believe there was a mistake. Wave will determine if an error has occurred and get back to you within 8 weeks (56 days). If Wave was at fault, you will be entitled to a full refund or be entitled to the returned transfer for free. If there is no error or if Wave was not at fault, you will receive written notice, including the information Wave reviewed to make that decision.

In general, because your designated Beneficiary is paid immediately after your mobile money transfer is processed, cancellation of that transfer and / or a refund of a previously settled mobile money transfer will not be processed and Wave has no obligation to honor such request. If, for some unforeseen reason, your designated recipient has not been paid, you can contact us and cancel for a full refund within 30 minutes of payment.

It is expressly agreed that Wave shall not be liable for any loss resulting from Wave's inability to cancel or refund a mobile money transfer.

Unresolved Complaints: If, after the first contact with Wave, the complaint has not been resolved and the complainant is a resident of The Gambia, the complainant may have the right to submit their complaint to the appropriate authorities.

  1. Limitation of Liability.

12.1 Wave shall make all commercially reasonable efforts to execute the mobile money transfer to the designated beneficiary in accordance with your instructions. If the transfer is delayed or mishandled as a result of an error or negligence on the part of Wave,  Wave’s sole obligation to you is to correct the error or refund the amount of the requested mobile money transfer request and Wave applicable fees.           

12.2 Wave's liability  is limited, and any compensation owed by Wave shall never exceed the amount of the disputed mobile money transfer or the value of the mobile portfolio and fees applicable to the Wave service, regardless of the circumstances or reasons for your loss. IN NO EVENT SHALL WAVE BE LIABLE FOR PUNITIVE, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR EXPENSES ARISING OUT OF OR IN CONNECTION WITH A MOBILE MONEY TRANSFER OR THE WAVE APPLICATION EVEN IF WAVE OR ITS REPRESENTATIVES ARE ADVISED OF SUCH DAMAGES, LOSSES OR EXPENSES.          

12.3 The foregoing constitutes your exclusive remedy under or in connection with this agreement and the Wave application. You agree that the foregoing limitation of liability of Wave is a reasonable and acceptable response to your recourse in the circumstances of this Agreement and the use of the Wave Application.           

  1. Indemnification.

In consideration of Wave's agreement to provide you with the Wave application, you agree to indemnify and hold Wave harmless against all claims, lawsuits, judgments, executions, liabilities, losses, damages, costs and expenses - including reasonable attorneys’ fees- related to or arising out of (i) any use of the Wave application, (ii) any breach of this Agreement, or (iii) transactions by Wave acting on your request for mobile transfer under this Agreement. Without limiting the generality of the foregoing obligation, you agree to indemnify Wave for all losses caused by any incomplete or inaccurate information that you provide to Wave and for all losses due to your failure to maintain the secrecy and confidentiality of all your identifiers, passwords and codes and due to unauthorized use of your identity document and/or password.

  1. Amendments.

Wave reserves the right to modify the terms and conditions contained in this Agreement, adding or removing provisions in whole or in part, without notice, except as required by law. If we choose to notify you or are required by law to notify you of changes to this Agreement, we shall be deemed to have fully complied with this obligation, except as specifically provided by applicable law, by mailing or delivering a notice or e-mail message to the last telephone number or address we have on file for you. 

Some fees are subject to change without notice.

  1. Electronic communications

To use the Wave Application, you agree to receive and accept these GCUs, any amendments thereto, as well as all notices relating to the Wave Application by electronic communication including SMS text message and e-mail. In the event that any changes to these GCUs require prior notice, Wave shall notify you by SMS text message or email, to the phone number or email address last provided, or provide you with a link in an SMS text message or email where you can see the revised or amended agreement. 

A record of each transfer payment shall be made available to you by Wave through electronic communication on the Wave mobile application. You acknowledge and agree that in order to use the Wave mobile application , you must have an Android or iPhone mobile phone, or a computer equipped with at least: an Internet browser with 128-bit encryption and a printer or disk drive or other electronic device of storage. You agree that if you withdraw your consent to receive electronic communications, Wave shall terminate your use of the Wave Application. You acknowledge and agree that all SMS text email messages and notifications sent to you regarding the status of mobile transfer payments are only service messages and will not be considered an official Wave document regarding the transfer payment requested on the Wave  mobile money application. In the event of a conflict, Wave's official documents will take precedence over all service messages. 

  1. Applicable Law and Dispute Resolution.

This General Conditions of Use (“GCU”) is governed by the laws of the republic of The Gambia . The relations between Wave  and the Customers of the Wave service are governed by the laws in force in The Gambia applicable to such payments in The Gambia, and relating to the exercise of its electronic money distribution activity. In the event of a dispute, the parties agree to resort to an amicable settlement. In the absence of an amicable agreement, any dispute, claim or question of difference arising from or related to the Wave customer agreement is subject to the exclusive jurisdiction of the courts of The Gambia.

  1. Use of personal data; Confidentiality policy

Your privacy is very important to us. Wave will not rent, sell or share your personal data except in accordance with the relevant policy used by Wave. Wave receives your information through various websites, mobile applications and third parties (the “Services”). By accepting this Confidentiality Policy and the GCUs, you agree to the collection, storage, use and disclosure of your personal information as described in this Confidentiality policy, Wave’s Privacy Notice and applicable laws from time to time..

17.1 Collection and use           

We collect both “personal” and “non-personal data”  to provide and measure the use of our services and improve them over time. By using the Wave service and accessing the Wave Application, you consent to such collection and use.

Data collected during registration: When you create or reconfigure an account on our services, you provide personal data, such as your name, email address, telephone number, and password. You can change your personal data and add optional additional information as an option in the account settings (mobile application). By registering, you authorize us to collect, store and use this personal data in accordance with the attached Confidentiality Policy.

Data generated during the use of the Services: Our services are designed to allow you to send money. As such, we may collect additional personal data in order to facilitate transactions and to comply with the law.

Information collected through technology: In an effort to improve the quality of services, we track information provided by your browser or by our services when you use the services, such as the website you are browsing from, the type of browser you are using, how you interact with links through our services, the access time and date, and other data that does not personally identify you. We track this data using cookies, or small text files, that include a unique and anonymous identifier. Cookies are sent to a user's browser from our servers and are stored on the user's hard drive. Sending a cookie to a user's browser allows us to collect non-personal data about that user and to keep a record of the user's preferences when using our services, both on an individual and aggregate basis. You can ask your browser, by changing its options, to stop accepting cookies or to warn you before accepting a cookie from the websites you visit. We collect this data to help improve our services, including advertising, and to be able to share aggregate statistics.

Data collected by third party services: Wave uses a variety of services hosted by third parties to help provide our services and to help us understand the use of our services, such as Google Analytics. These services may collect data sent by your browser as part of a web page request, such as cookies or your IP address.

 17.2 Data sharing and disclosure           

Wave only discloses your private data under the circumstances described below:

Your Consent: Your data may be shared or disclosed with your consent, such as when you use a third party web application to access your account on our services.

Service Providers / Sub Distributors: We engage trusted third party agents to perform functions and provide services for us. We may share your personal data with these third parties, but only to the extent necessary to perform these functions and provide such services, and subject to obligations reflecting the protections of this Confidentiality Policy.

Law: We may retain or disclose your data if we believe it is reasonably necessary on instructions from judicial or law enforcement authorities or with your express consent to comply with any law, regulation or legal request; to protect the safety of any person; to combat fraud, security or technical issues; or to protect the rights or property of Wave .

Company Transfers: If Wave, or substantially all of our assets are acquired, or in the unlikely event that Wave goes out of business or goes bankrupt, customer personal data would be one of the assets that is transferable to or acquired by a third party. You acknowledge that such transfers may occur, and that any acquirer of Wave  may continue to use your personal data in accordance with this policy.

Non-private or non-personal information: We may share or disclose your aggregated or otherwise non-personal and non-private data, such as the number of users who have clicked on a particular link. 

17.3 Miscellaneous           

Amendment to your personal data. If you are a registered customer of our services, we offer you tools for you to access or modify the personal information you provide to us that is associated with your account.

Confidentiality Policy: Wave may make changes to its Confidentiality policy from time to time. Wave encourages users to regularly consult our Confidentiality Policy for any changes made. If we make a material change to this policy, at our sole discretion, we shall notify you by email to the address associated with your account. Your continued use of our sites and application after any change in this Confidentiality Policy constitutes your acceptance of such change. 

  1. Agreement Terms and Conditions.

By subscribing to Wave Services , you acknowledge that you have read, understood and agree to the provisions of these GCUs. You also confirm that you are able to print or download a copy of these GCUs.