Member Benefit Rules
Member Benefit Rules for the 6DOT50 Membership Programme
This document sets out the Benefits available to you as a 6DOT50 Member. You may choose to use any of the benefits included in this document and you authorise 6DOT50 and where relevant 6DOT50 Business Partners to administer and give effect to the benefits that you activate and approve. For information relating to membership refer to the Member Rules.
Our membership programme allows you to receive and purchase our 6DOT50 Digital Vouchers and to redeem them for the purchase of eligible products that we make available to you through our business partners. Each Digital Rand voucher is worth 1 South African Rand and we hold 100% of the value of your active vouchers in our bank account to cover your redemption requests.
BUY 6.50 Digital Rand Vouchers
Members may purchase 6DOT50 vouchers either in cash (subject to such option being available in the territory in which you reside) or by using a bank card or by making payment via electronic funds transfer. You can BUY Digital Rands as follows:
Cash payments for our vouchers are accepted at participating retailer till points across South Africa. Click here for a list of retailers. When you elect to pay for your 6DOT50 vouchers using cash, we will provide you with a payment reference number to be given to the cashier.
To pay for your vouchers using a bank card, instant EFT or any other electronic payment method made available to you by us, please follow the instructions that we will provide to you at that time to complete your purchase.
If for any reason we receive an overpayment or an underpayment, in other words, where we receive more or less than the amount that you accepted on our quote, the amount of Digital Rands that we will allocate to your 6DOT50 Account will be adjusted accordingly. You agree and accept that the fees, if applicable, that would have been applied to your purchase, based on the revised amount received by us, will apply.
Any refund request that may be applicable will be subject to our Refund policy.
On confirmation of payment your voucher value will immediately be available for you to USE and the value will be reflected in your 6DOT50 Account.
Should 6DOT50, for any reason whatsoever, and in its sole and absolute discretion, have reason to believe or suspect that your purchase of 6DOT50 Digital Rands was made by fraudulent or nefarious means, regardless of your payment method, 6DOT50 reserves the absolute right to block your account and to withhold such amount of Digital Rands as it believes were purchased by fraudulent or nefarious means for such period as it may deem necessary or until its investigation into such purchase of Digital Rands is complete. 6DOT50 will contact you to allow you to provide information in relation to such Digital Rand purchase to assist it in its investigation.
6DOT50 and its partners make use of various security software tools, including, but not limited to, the services offered by Chainanalysis®. Chainanalysis is a blockchain data platform which assists businesses and governmental organisations to engage confidently with cryptocurrency, and to flag transactions which, inter alia, involve cryptocurrency obtained through nefarious means or transactions which flout governmental regulations and sanctions, whether intentional or otherwise. Such software tools and security measures may identify your transaction/cryptocurrency as being linked, directly or indirectly, to earlier transactions which contravene(s) governmental and other regulations which our partners are required to adhere to. Such regulations may include, but are not limited to, regulations preventing the circumvention of government imposed sanctions, anti-money laundering regulations, anti-terrorism regulations and prevention of organised crime regulations. In certain scenarios, cryptocurrency transactions which have been flagged by such software as being in contravention with any regulation or self-imposed standard, will be investigated and may result in a refusal by 6DOT50 to accept such payment and, where possible, our partners will provide a refund or, should regulation so require, our partners may be instructed to confiscate such cryptocurrency without compensation.
BUY 6.50 Digital Dollars
You may purchase 6DOT50 Digital Dollar vouchers using Digital Rand vouchers (subject to such option being available in the territory in which you reside).
You will be quoted with a price for Digital Dollars when you place an order for Digital Dollars. The quoted price may include fees and other charges imposed by us in order for us to offer Digital Dollar vouchers to you. 6.50 may offer a limited amount of Digital Dollars for sale at any given time. The total amount of Digital Dollars for sale to all members can be set and adjusted by 6.50 in its sole and absolute discretion and is subject to change from time to time.
Digital Dollar vouchers may only be purchased using Digital Rands and may only be redeemed for Digital Rands. You will be quoted with a price should you elect to use your Digital Dollars to purchase Digital Rands. On acceptance, by you, of the quoted price your voucher values will be adjusted and reflected in your 6DOT50 Account.
Digital Dollars cannot be sent to any other 6DOT50 member and cannot be used to buy any products or services other than Digital Rands. No cash refunds in respect of Digital Dollars are available. Should you wish to request a refund of your Digital Dollar value you will need to purchase Digital Rands and follow the Digital Rand refund process.
SEND Vouchers
Members may send their voucher value to any other person with a valid South African mobile number for free. Unlike physical products, Digital vouchers are easy to transfer from one individual to another. Simply enter the mobile number of the person you want to SEND your voucher value to, confirm the number is correct and confirm your SEND request. When Digital vouchers are sent to a non-member, such person will receive an SMS informing them that Digital Rands have been sent to them. The Digital Rands will be available to them from the moment they register for 6DOT50. Should the recipient not register for 6DOT50 within 7 days of sending, the Digital Rands will automatically be returned to the senders 6DOT50 Account.
There are no transaction fees applicable for sending or receiving vouchers. Sending vouchers to members in different territories may require that you supply 6DOT50 with additional information, this is subject to the Laws applicable in the territory in which you reside.
USE Vouchers
Our voucher product is designed as an alternative way for you to hold value and to access products and services offered by our network of Business Partners. You may only redeem your voucher value for eligible products and services through our website and our mobile applications. The products and services available to you may change over time.
To exchange your voucher value for other products and services follow the USE links available on our mobile apps or through our secure website.
When you choose to redeem your voucher value for a product or service from one of our Business Partners they will request a payment approval from us for the value of purchases that you approve with them. We will, subject to you holding sufficient voucher value with us, authorise the purchase and make the payment directly to our Business Partner. The value of the purchase will reflect as a reduction of the voucher value held in your 6DOT50 account.
Members may also SEND Digital Vouchers to registered 6DOT50 Merchants as a way to pay for goods and services. Merchants will receive instant notification of your value transfer.
Refunds
If you are not 100% satisfied with your purchase or with holding our Digital Vouchers for any reason, simply follow our support links to return your voucher value and request a refund. Our business partners have been tasked to ensure that your get your refund as quick as possible. Unfortunately making sure you get your money back does cost us money so we will have to apply the following fees and limits:
Transaction type: Cash refund at approved retail outlets
Fee: A refund fee will be levied against each refund request. You will be presented with the fee amount to accept before confirming your refund request.
Max refund Value: R1000.00 (One Thousand Rand) plus the applicable fee.
It is important to note that these fees are only applicable to the return of Digital Rand vouchers from individual members and the fees will be added to the refund amount requested. For example, if you have a balance of R100.00 in your Digital Rands account you will need to request a maximum of R90.00 so that you have sufficient value in your account to cover our fees.
Should you wish to return more than the max refund value limit, applied above, please use our support links to make a special request.
Refunds will not apply to FREE Digital Voucher rewards.
All registered 6DOT50 Merchants may request to cash-out their Digital Voucher value using the Refund functionality available on the 6DOT50 Website. All refund requests will be subject to our Merchant Rules.
Rewards
6DOT50 may elect to reward you with FREE Digital Vouchers from time to time either in terms of these Rules, special campaigns, through our partners using the 6DOT50 platform, product promotions or at the sole discretion of 6DOT50. Digital Voucher rewards may only be used to either SEND to other 6DOT50 members to USE or you may USE them in terms of the specific Rules linked to each reward. Unlike Digital Vouchers that are purchased by you, Digital Vouchers issued as an incentive may be subject to additional special terms such as expiry dates and limited USE cases. For the avoidance of doubt all Digital Vouchers issued by us to you as an incentive, promotion or as a loyalty reward will expire if not used within the time frames specified and may not be included in a refund request unless we confirm otherwise in writing.
Cash-Out Services
The Cash-Out functionality available through the 6DOT50 Platform enables eligible Members to convert qualifying voucher value into cash, either through transfer to a nominated bank account or through supported card-less cash withdrawal channels.
Cash-Out services are provided by one or more appropriately authorised and regulated third-party payment service providers. 6DOT50 does not provide regulated payment, remittance, banking, cash withdrawal, or money transfer services and acts solely as a technology platform facilitating access to such services.
To access Cash-Out functionality, Members are required to complete any identity verification, onboarding, screening, or compliance processes required by 6DOT50 and/or the applicable third-party provider. This may include the submission of identity documents, biometric verification, selfies, proof of information, or any additional information reasonably required to satisfy applicable legal, regulatory, risk management, anti-money laundering, counter-terrorist financing, fraud prevention, or compliance requirements.
Access to Cash-Out services is subject to the Member meeting the eligibility, verification, and compliance requirements of the applicable third-party provider. 6DOT50 does not guarantee that any Member will qualify for, retain access to, or successfully complete a Cash-Out transaction.
6DOT50 reserves the right to charge service fees, transaction fees, administration fees, or other charges in connection with the Cash-Out functionality. Any applicable fees will be disclosed to the Member during the Cash-Out process and prior to the Member confirming the Cash-Out request. By confirming a Cash-Out transaction, the Member accepts the applicable fees and authorises their deduction from their 6DOT50 Account.
6DOT50 may utilise multiple third-party Cash-Out providers and reserves the right, at its sole discretion and without notice, to appoint, remove, replace, or change any Cash-Out provider, service, process, channel, eligibility criteria, transaction limits, withdrawal methods, or related functionality.
Once a Member has confirmed a Cash-Out request and such request has been successfully submitted to the applicable third-party provider, the processing, settlement, payment, transfer, withdrawal, and delivery of the Cash-Out transaction shall be subject to the terms, conditions, operational procedures, service levels, and requirements of the applicable third-party provider.
To the fullest extent permitted by law, 6DOT50 shall not be liable for any delays, failures, errors, reversals, rejections, processing issues, compliance decisions, account verification issues, service interruptions, payment failures, cash withdrawal failures, losses, damages, costs, or claims arising from or relating to the provision of Cash-Out services by any third-party provider.
Members acknowledge and agree that any queries, complaints, disputes, claims, investigations, or requests relating to a Cash-Out transaction may be referred by 6DOT50 to the applicable third-party provider and that the Member may be required to engage directly with such provider to resolve the matter.
6DOT50 reserves the right to suspend, limit, decline, reverse, or discontinue access to Cash-Out services at any time where required for regulatory, compliance, operational, fraud prevention, risk management, legal, commercial, or security reasons.
Powered by 6DOT50
From time to time, 6DOT50 may partner with third parties in order to provide additional features to their members via or through the 6DOT50 platform.
Such third parties may have terms and conditions specific to the use, consumption and enjoyment of their features, products and or benefits which may, inter alia, impose additional obligations, contain additional limitations on liability, contain additional rules and generally expand upon these terms and conditions.
Accordingly, you hereby acknowledge that when using the 6DOT50 Platform to access third party products, services and or features, that you will have a direct contractual relationship with such third parties. It is your sole responsibility to familiarize yourself with the terms and conditions of such thirds parties when you access or use the features, products and or services of such third parties via 6DOT50 and you must remain up to date with any amendments thereto.
You will have no claim of whatsoever nature against 6DOT50 arising from any claim arising from the breach of a third party of its obligations in terms of its agreement with you.
Crypto Asset Funding Service
General: 6DOT50 may, from time to time, enable Users to fund their 6DOT50 account, purchase Digital Rands ("DZAR"), acquire vouchers, make payments, or access other services available through the 6DOT50 Platform using cryptocurrency or crypto assets.
By utilising any crypto asset funding option, the User acknowledges and agrees to the terms set out in this section.
Third-Party Crypto Asset Services
6DOT50 does not provide cryptocurrency, crypto asset exchange, crypto asset brokerage, crypto asset custody, crypto asset wallet, crypto asset transfer, crypto asset conversion, virtual asset service provider, or related services.
All crypto asset services are provided exclusively by independent third-party service providers ("Crypto Service Providers") appointed by 6DOT50.
The User acknowledges that 6DOT50's role is limited to the administration of its voucher, payment, settlement, and Digital Rand ecosystem and that 6DOT50 does not participate in the acquisition, holding, transmission, exchange, conversion, or custody of crypto assets.
Allocation of Deposit Addresses
To facilitate crypto asset funding transactions, the Crypto Service Provider may allocate a crypto asset deposit address linked to the User's verified 6DOT50 account.
Such deposit addresses are generated, managed, controlled, and monitored exclusively by the Crypto Service Provider.
The User acknowledges that the deposit address is provided solely for the purpose of receiving supported crypto assets and that 6DOT50 does not control, administer, or have access to the private keys, custody arrangements, or blockchain infrastructure associated with such address.
User Responsibility for Blockchain Transactions
The User acknowledges and agrees that all blockchain transactions are initiated solely by the User or by a third-party wallet provider, exchange, custodian, broker, virtual asset service provider, or other intermediary acting on the User's behalf.
6DOT50 does not initiate, authorise, transmit, route, verify, validate, or execute blockchain transactions.
The User is solely responsible for ensuring that:
a. the correct crypto asset is transferred;
b. the correct deposit address is used;
c. the correct blockchain network, protocol, token standard, and transaction parameters are selected;
d. the crypto asset being transferred is supported by the applicable Crypto Service Provider;
e. sufficient information is obtained from the Crypto Service Provider prior to initiating the transaction;
f. the source of the crypto assets and funds is lawful;
g. all applicable laws, regulations, sanctions requirements, anti-money laundering obligations, exchange control requirements, tax obligations, and reporting obligations are complied with; and
h. any third-party service provider used to initiate the transaction has the authority, capability, and compliance framework necessary to complete the transaction.
The User bears all risk associated with incorrectly initiated transactions, unsupported assets, incorrect network selections, protocol incompatibilities, blockchain errors, incorrect destination addresses, failed transmissions, or any other error arising from the initiation or execution of the blockchain transaction.
Responsibility of Originating Wallets, Exchanges and Service Providers
Where a User utilises a third-party exchange, wallet provider, custodian, broker, virtual asset service provider, payment provider, or any other intermediary to transmit crypto assets, all obligations relating to the initiation, verification, compliance, authorisation, execution, and settlement of the blockchain transaction shall remain solely between the User and such third party.
The User acknowledges that neither 6DOT50 nor the Crypto Service Provider is responsible for ensuring that the User's chosen wallet provider, exchange, or intermediary supports the relevant asset, blockchain network, protocol, or transaction type.
The User and the originating service provider remain solely responsible for ensuring that the crypto asset being transferred is capable of being transmitted to and received by the deposit address designated by the Crypto Service Provider.
Crypto Service Provider Responsibilities
The Crypto Service Provider shall be solely responsible for:
a. receiving supported crypto assets at the allocated deposit address;
b. conducting all required compliance, screening, monitoring, verification, and risk management procedures;
c. performing customer due diligence, know-your-customer (KYC), anti-money laundering (AML), sanctions screening, travel rule compliance, and any other regulatory obligations applicable to crypto asset services;
d. determining and applying exchange rates and conversion methodologies;
e. converting crypto assets into fiat currency; and
f. confirming settlement to 6DOT50 following successful conversion.
No Custody or Handling of Crypto Assets by 6DOT50
At no time does 6DOT50 receive, hold, custody, administer, control, transfer, exchange, convert, or otherwise deal in crypto assets.
6DOT50 receives only fiat currency settlement from the Crypto Service Provider following successful receipt, verification, and conversion of the crypto asset by the Crypto Service Provider.
The User acknowledges that 6DOT50 does not provide crypto asset services and does not act as a crypto asset intermediary, exchange, broker, custodian, or wallet provider.
Conversion and Exchange Rates
6DOT50 does not determine, negotiate, control, influence, or guarantee any crypto asset exchange rate, conversion rate, settlement value, market value, or timing of conversion.
The fiat value settled to 6DOT50 by the Crypto Service Provider following conversion shall be the value used by 6DOT50 when issuing DZAR, voucher value, or other value to the User.
Issuance of Digital Rand Value
Only after the Crypto Service Provider has:
a. received the crypto asset;
b. completed all required compliance and verification procedures;
c. successfully converted the crypto asset into fiat currency; and
d. confirmed settlement to 6DOT50,
will 6DOT50 issue the corresponding DZAR value, voucher value, or other value to the User's account. 6DOT50 shall have no obligation to credit a User's account until fiat settlement has been successfully received from the Crypto Service Provider.
Fees
6DOT50 may charge an administration fee, convenience fee, service fee, or similar fee in relation to transactions funded through a Crypto Service Provider.
Such fees are charged solely in connection with the administration of the transaction, access to third-party services, and operation of the 6DOT50 Platform.
The User acknowledges that such fees do not constitute fees for the provision of crypto asset services by 6DOT50.
The Crypto Service Provider may separately charge exchange fees, conversion fees, network fees, blockchain fees, spreads, commissions, or other charges in accordance with its own terms and conditions. These fees will be included int he Crypto Service Providers Conversion and Exchange rates.
Limitation of Liability
To the maximum extent permitted by law, 6DOT50 shall not be liable for any loss, damage, delay, expense, claim, or liability arising from:
a. blockchain network failures;
b. incorrect wallet addresses;
c. unsupported crypto assets;
d. incorrect network or protocol selections;
e. failed, delayed, reversed, or disputed blockchain transactions;
f. exchange rate fluctuations;
g. market volatility;
h. sanctions restrictions or compliance interventions;
i. actions or omissions of any wallet provider, exchange, custodian, broker, virtual asset service provider, or other intermediary;
j. actions or omissions of the Crypto Service Provider; or
k. any inability to receive, convert, process, settle, or transmit crypto assets.
The User acknowledges that all crypto asset transactions involve inherent technological, operational, legal, and market risks and accepts such risks when electing to utilise a crypto asset funding option.
Indemnity
The User indemnifies and holds harmless 6DOT50, its directors, employees, agents, partners, and service providers against any claim, loss, liability, penalty, regulatory action, cost, or expense arising from:
a. the User's breach of these Terms;
b. the unlawful source of any crypto asset or funds;
c. any failure by the User or its originating service provider to comply with applicable laws or regulations;
d. any incorrect, unsupported, or non-compliant blockchain transaction initiated by or on behalf of the User; or
e. any dispute relating to the ownership, transmission, source, destination, or conversion of crypto assets.
Definitions and Interpretation
The following expressions have the following meanings:
Benefits: Refers to the benefits available to members through the 6DOT50 Membership Programme
Benefit rules: Refers to the business practices as set out in these Rules.
Business Partners: Refers to Payment Facilitators that offer various products and Services to users from a network of retailers and eCommerce merchants and Payment Processors that facilitate the collection and payment of funds due by and to members.
Member: The person contracting with 6DOT50 and bound by these rules.
Membership date: The date when a member completes the minimum requirements to join the 6DOT50 Membership Programme.
Member Rules: Refers to the terms and conditions that are set out in the Member Rules and form the basis of our relationship.
Programme: Refers to the 6DOT50 Membership Programme.
Voucher Value: Refers to the underlying value that a 6DOT50 voucher is linked to. This may include values linked to known and trusted fiat currencies such as the US Dollar.
6DOT50 Account: Refers to your account with 6DOT50 in which your Digital Voucher Value and all transactions affecting the value of your vouchers is reflected.
6DOT50 Membership Programme: Refers to the Membership Programme administered by 6DOT50 (Pty) Ltd.