IMPORTANT NOTICE ABOUT POSSIBLE TERMINATION OF POS DEVICE USE AND RENTAL

Standard Bank will soon be moving the provision and rental of the “Thrive” point-of-sale devices (POS Devices) to Thrive Digital Trade (Pty) Ltd (Thrive), which is a separate company owned by Standard Bank.

For these purposes, Standard Bank gives you this notice that with effect from 1 April 2024 (or such later date as may be notified to you via the thrive app) (Effective Date):

·       Standard Bank will terminate (only) the provisions of its “Thrive Services Consolidated Transaction Terms” with you in regard to (only) your use and rental of the POS Devices; and

·       for the avoidance of doubt, the remainder of those terms (notably, governing the acquiring and settlement of card transactions), and the “Terms and Conditions for Thrive Rebates”, will continue to apply from the Effective Date.

If you wish to continue using and renting the POS Devices from the Effective Date, then you will need to accept updated Thrive App Terms and Conditions (Terms). Thrive will at the same time notify you of any fees applicable to your continued use and rental of the POS Devices. Whilst the Terms will be updated to deal with your use and rental of the POS Devices from Thrive, note that the remainder of the Terms will remain the same as the Terms that are in place now.

Thrive will notify you soon with the updated Terms, which you can accept via the thrive app if you agree to them.

If you accept the updated Terms by 5pm on Thursday, 28 March 2024, they will come into effect (begin) on the Effective Date (being 1 April 2024 or the later date that Thrive will notify you of through the thrive app).

If you do not accept the updated Terms by 5pm on Thursday, 28 March 2024:

·       we will arrange for collection of the POS Devices from you after the Effective Date, and you will no longer be able to use or rent the POS Devices; and

·       The existing Terms will continue to apply to you in regard to the thrive app.