Legal

Terms of Service

Last updated: April 13, 2026

1. Acceptance of Terms

By downloading, installing, or using the Cool mobile application ("the App"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, do not use the App.

Cool is operated by IKANISA Ltd, a company registered in Rwanda ("we", "us", "our").

2. Eligibility

  • You must be at least 18 years old to use Cool.
  • You must have a valid Rwandan mobile phone number.
  • You must have access to a Mobile Money account (MTN MoMo or Airtel Money).

3. Account Registration

  • You register using your phone number and WhatsApp OTP verification.
  • You are responsible for all activity under your account.
  • You must provide accurate and complete information.
  • One account per person. Duplicate accounts may be suspended.

4. Services Provided

Cool provides the following services:

ServiceDescription
Group Savings (Ibimina)Create and join digital savings groups with transparent contribution tracking.
BioPayFace-scan, NFC, and QR code payment capabilities using on-device biometrics.
Mobile Money IntegrationUSSD-initiated payments with automatic SMS verification and ledger recording.
Bank Account OpeningFacilitated account opening with partner banking institutions.

5. Fees

Cool charges zero fees to savers. There are no subscription fees, transaction fees, or hidden charges for making savings contributions or managing your groups. Standard Mobile Money operator charges may apply when initiating USSD payments — these are charged by your mobile operator, not by Cool.

6. Savings and Funds

  • All savings contributions are held in custodial bank accounts managed by our banking partner (Equity Bank Rwanda).
  • Cool does not hold, manage, or have direct access to your funds.
  • Cool is not a bank, microfinance institution, or deposit-taking entity.
  • Withdrawals are subject to the rules agreed upon by your savings group.
  • Cool acts as a technology intermediary — a digital ledger and payment facilitation platform.

7. Mobile Money Payments

  • Payments are initiated by you via USSD dial on your device.
  • Cool does not integrate with any payment gateway API.
  • Cool reads Mobile Money SMS confirmations (with your permission) to verify transactions.
  • The canonical USSD string for contributions is *182*8*1*23456*2000# (amount varies).
  • Once a payment is verified and recorded, it cannot be reversed through Cool. Disputes must be raised with your Mobile Money operator.

8. BioPay

  • Biometric data is processed entirely on your device.
  • No biometric data is transmitted to or stored on our servers.
  • You can disable BioPay at any time in your app settings.
  • Cool is not liable for biometric authentication failures caused by device limitations.

9. User Responsibilities

You agree to:

  • Use the App only for lawful purposes.
  • Not attempt to manipulate, falsify, or tamper with savings records.
  • Not share your account credentials or allow others to use your account.
  • Not use the App for money laundering, fraud, or any illegal financial activity.
  • Report any suspected unauthorized access to your account immediately.

10. Group Rules

  • Each savings group may set its own rules regarding contribution amounts, schedules, and withdrawal terms.
  • Cool provides the technology platform but does not arbitrate disputes between group members.
  • Group administrators are responsible for managing their group's rules and membership.

11. Limitation of Liability

To the maximum extent permitted by Rwandan law:

  • Cool is provided "as is" without warranties of any kind.
  • IKANISA Ltd is not liable for losses arising from Mobile Money operator outages, SMS delivery failures, or device malfunctions.
  • IKANISA Ltd is not liable for decisions made by banking partners regarding account opening or credit.
  • Our total liability shall not exceed the amount of fees you have paid to us (which is zero for savers).

12. Intellectual Property

The Cool name, logo, design, and all associated content are the intellectual property of IKANISA Ltd. You may not copy, modify, or distribute any part of the App without written permission.

13. Account Suspension and Termination

We may suspend or terminate your account if:

  • You violate these Terms.
  • We detect fraudulent or suspicious activity.
  • Required by law enforcement or regulatory order.

You may delete your account at any time. See Account Deletion.

14. Governing Law

These Terms are governed by and construed in accordance with the laws of the Republic of Rwanda. Any disputes shall be resolved in the competent courts of Kigali, Rwanda.

15. Changes to Terms

We reserve the right to update these Terms at any time. We will notify you of material changes via in-app notification or SMS. Continued use after notification constitutes acceptance of the updated Terms.

16. Contact

For questions about these Terms: