This document sets out the binding terms and conditions governing the Financial Service offered by Better in the Republic of the Union of Myanmar. Please read this document carefully before applying for, or using, any product or service referenced herein.
TABLE OF CONTENTS
7. SERVICES/PRODUCTS ASSESSMENT
8. BETTER STORE (BUY NOW PAY LATER OPTIONS)
INTRODUCTION AND ACCEPTANCE
These Terms and Conditions (this “Agreement”) govern Better, including all associated loan, and lease to buy facilities offered through the Better Store, made available by Better (“Better”, “We”, “Us”, or “Our”) to eligible individuals (each a “Customer”, “User”, “Lessee”, “You”, or “Your”) while “Lease to Buy,” “Order,” “Product,” or “Service” refers to the lease-to-buy facilities, orders, products, or services available through Better Store in the Republic of the Union of Myanmar.
By submitting an application, completing registration, or otherwise using any product or service offered by Better, the Customer acknowledges that the Customer has read, understood, and agreed to be bound by this Agreement, as it may be amended from time to time in accordance with Section 22 (Amendments to Terms).
This Agreement operates in conjunction with any product-specific terms, guarantor agreements, consent forms, and disclosures issued by Better, and, to the extent applicable, with the terms and conditions of WavePay and other third-party service providers referenced herein.
1. ELIGIBILITY
1.1 You must be a natural person between twenty-one (21) and sixty (60) years of age, based on your NRC date of birth.
1.2 Better may request proof of age at any time and may reject or end your application if your age cannot be verified.
1.3 You must meet Better's creditworthiness standards at application and throughout the loan or lease term.
1.4 Better may assess this using your income, repayment history, existing debts, credit bureau records, and behavioral data from WavePay or other digital financial services.
1.5 Better has full discretion to approve, reject, suspend, write off, or change the terms of any application, without needing to explain its decision, except where required by Myanmar law. You will have no claim against Better arising from this discretion.
1.6 If you are salaried, you must have worked continuously for at least six (6) months at the date of application with an employer registered under Myanmar law and onboarded as a Better partner organization.
1.7 Whether salaried, self-employed, or otherwise engaged, you must show a regular, verifiable income sufficient to cover repayments. Better may request payslips, bank statements, or other proof of income.
1.8 By applying, you authorize Better to verify your eligibility information with third parties, including WavePay, employers, credit reference agencies, telecom operators, and relevant government authorities.
1.9 Meeting eligibility at application does not guarantee continued eligibility. Better may reassess your eligibility at any time and may suspend, restrict, or end services if you no longer qualify.
2. REGISTRATION
2.1 Membership with Better is obtained through a two-level registration process. Registering means you accept this Agreement in full.
2.2 Level 1 (Pre-Registration): Anyone can start pre-registration using a valid Myanmar mobile number. Level 1 gives access to preliminary product information only — it does not let you apply for or draw down any loan, lease, or BNPL facility.
2.3 Level 2: To upgrade to Level 2 (Full Membership), you must submit the identification and documents Better requires. Better will review each Level 2 application and may approve or reject it at its sole discretion, without needing to give reasons except where required by law.
2.4 You may upgrade to Level 2 only if you hold (i) a valid, unexpired NRC, and (ii) a WavePay account verified under WavePay's own procedures. Applications missing either will be treated as incomplete and will not be processed.
2.5 You may hold only one (1) active Better account. Duplicate accounts, or attempts to register using the same NRC, WavePay account, or mobile number, are not allowed. If Better finds a duplicate account after an initial account is approved, Better may reject the duplicate account(s) without prior notice or liability.
2.6 Better may update the registration process, including documentary and verification requirements, at any time to meet regulatory changes or its own risk policies.
3. MEMBERSHIP
3.1 Membership gives you certain privileges, including eligibility to apply for loans Better offers from time to time, but does not guarantee any product, credit limit, or continued access to Better's services.
3.2 Benefits under this Agreement are privileges, not rights, unless expressly stated otherwise. Privileges may be varied, suspended, or withdrawn by Better at any time; rights are only those clearly granted under this Agreement or required by Myanmar law.
3.3 You must use your account, the app, and any financed device solely for lawful, personal, non-commercial purposes (unless Better agrees otherwise in writing), and must not let anyone else access or operate your account.
3.4 You are fully liable for any transaction, application, or instruction made through your account, whether or not you authorized it — except where unauthorized use is proven to result solely from Better's gross negligence or willful default. Notify Better immediately if you become aware of unauthorized access to your account.
3.5 If the WavePay account linked to your Better account becomes unverified, deactivated, or otherwise fails WavePay's verification standards, Better may immediately suspend your account and its privileges pending re-verification.
3.6 Better may revoke, suspend, or terminate your membership at any time, including after approval, if you breach this Agreement, provide false or misleading information, have adverse credit findings, or if Better reasonably determines continued membership poses a legal, regulatory, reputational, or credit risk.
3.7 If you do not provide the required information at the "To Update" stage, Better will not proceed with your account, and Better is not responsible for any resulting delay. Such pending status is solely attributable to you.
4. LINKAGE WITH ORGANIZATION
4.1 If you want employment-linked benefits or products, you must provide accurate, complete employment information including organization name and designation, and promptly tell Better if this changes.
4.2 The services and products available to you through your employer link are decided solely by Better, based on Better's partnership terms with that organization. Better may add, change, restrict, or withdraw any such service or product at any time without prior notice.
4.3 You may unlink your account from your employer at any time, without penalty. Unlinking takes effect once Better processes your request and does not affect repayment obligations on any loan, lease, or BNPL facility already disbursed.
4.4 Better may, at its discretion, offer exclusive benefits to employees of partner organizations. These benefits may be changed or withdrawn at any time, and you have no claim arising from this.
4.5 If a partner organization stops being a Better partner for any reason, all linked employee accounts will be automatically and immediately unlinked. This does not affect the validity of any outstanding obligations, which continue on their original terms.
5. EMPLOYEE CONSENT
5.1 By linking your account to a partner organization, you consent to that organization sharing your employment information including net salary, service years, designation, join date, and employment status with Better for the purposes in this Section.
5.2 Better will use this employment information only for underwriting, credit assessment, and account monitoring, and will not disclose it to third parties except as permitted under Section 23 (Use of Personal Data) or as required by law.
5.3 Your consent to share employment information applies only to each specific linkage and does not carry over. You must give fresh consent each time your account is linked to a new organization, whether the same one as before or a different one.
5.4 Employee consent is valid for up to 12 months. After this period, we will request your consent again before continuing to verify your employment information
6. GUARANTOR AGREEMENT
6.1 A proposed guarantor ("Guarantor") must be between twenty-one (21) and sixty (60) years of age at the date of the guarantor agreement and must meet any other eligibility criteria Better sets.
6.2 A Guarantor must have a regular, verifiable income, assessed on the same basis as Section 1 (Eligibility), sufficient to meet their contingent obligations under the guarantee.
6.3 An individual may not guarantee more than one (1) active loan with Better at a time. A proposed Guarantor already guarantees another Customer will be rejected until that guarantee is fully discharged.
6.4 Better may reject a proposed Guarantor at its discretion, without giving reasons, and require you to nominate an alternative Guarantor before your application can proceed.
6.5 If you default on a repayment or cannot be reached using your details on record within a reasonable period set by Better, the Guarantor must, on Better's written demand, (i) use reasonable efforts to help Better locate and contact you, and (ii) if the default is not resolved, repay the outstanding sums on your behalf under the terms of their guarantor agreement.
6.6 Better will send the Guarantor Agreement form via SMS or another messaging channel to the Guarantor's mobile number provided by you and will contact the Guarantor for any information required under the guarantor contract.
6.7 If the Guarantor does not provide the guarantor agreement within 24 hours of receiving it, the agreement will be cancelled, your loan status will change to "To Update," and you will need to provide a new guarantor to proceed with the order.
7. SERVICES/PRODUCTS ASSESSMENT
7.1 Better alone decides which services and products you're eligible for, based on its internal assessment. This decision cannot be challenged or disputed, except for a clear clerical error.
7.2 The availability, credit limit, tenure, and pricing of any product may vary based on your credit score and risk profile, as assessed by Better using internal and third-party data.
7.3 Better may restrict, suspend, or withdraw your access to any assigned service or product at any time including due to a decline in your credit profile, a breach of this Agreement, or a change in Better's risk appetite or regulatory obligations.
7.4 You must always provide accurate, complete, and current information, and promptly provide updated documents when Better asks. Failure to do so may result in suspended access, without liability to Better.
8. BETTER STORE (LEASE TO BUY OPTION)
8.1 For loans through Better Store, you must pay the required down payment and admin fee upfront when the loan is confirmed. The remaining product price is repaid in equal or scheduled monthly installments, based on the financing plan you selected and Better approved.
8.2 Once your loan is confirmed, you cannot change the product model, variant, color, or specification due to stock control. If your selected product becomes unavailable, Better will try to offer a comparable substitute.
8.3 You are responsible for reviewing the financing plan — principal, financing amount, admin fees, total repayment amount, monthly repayment, term, and due dates, before confirming a loan. Confirming a loan means you accept the entire financing plan.
8.4 You must collect products purchased through Better Store at your chosen pickup location, presenting your original NRC, within three (3) working days. Otherwise, Better may cancel the loan.
8.5 The process works as follows: (i) you browse products on Better Store; (ii) you select a product and BNPL plan; (iii) Better checks your eligibility and affordability; (iv) once approved, you pay the down payment and admin fee; and (v) the loan is confirmed and you're notified to collect the product.
8.6 Better may change, discontinue, or withdraw any Better Store product, financing plan, or promotion at any time, without liability except for loans already confirmed.
9. APPLICATION PROCESS
9.1 All loan applications must be submitted through Better's mobile app or another designated digital channel, with all required information and documents, including identity verification, employment/income evidence, and consent to third-party checks under Section 2 (Eligibility).
9.2 Better may reject an application for reasons including: not meeting Section 2 eligibility; adverse credit assessment; incomplete, inaccurate, or fraudulent information; failed third-party verification; or any other ground Better considers material to credit risk.
9.3 If a seller rejects an application linked to a Better Store loan (for example, due to stock unavailability confirmed after order placement), Better will notify you promptly and process any applicable refund of your down payment under the refund rules below.
9.4 If a refund is due because of merchant rejection, order cancellation before fulfilment, or Better's inability to process an approved application, Better will credit the refundable amount to your WavePay account within seventy-two (72) working hours, or another reasonable period Better determines. Refunds are subject to deduction of any non-refundable administrative fees or charges disclosed to and accepted by you at application, per Section 13 (Fees and Charges) and Section 17 (Right of Withdrawal).
9.5 A draft order is valid for 72 hours. If you do not complete the order within that time, the loan will be automatically cancelled, and you may also cancel the draft order yourself.
10. COLLECTION PROCESS
10.1 Only the seller and you are responsible for product default after collection and once the subscription has started.
10.2 Pickup or delivery fees apply where applicable and must be paid directly to the delivery merchant; such charges are not related to Better.
10.3 If the seller provides delivery itself or through a third party, any default or delay in delivery is solely the seller's responsibility and not related to Better.
11. MONTHLY REPAYMENT TERMS
11.1 You must repay each instalment on or before its due date, as shown in the repayment schedule given to you when your loan is approved. Repayment terms are fixed once agreed and cannot be customized or renegotiated, except at Better's sole discretion.
11.2 If you miss an instalment's due date, you get a five (5) day grace period with no charges. After the grace period, a late payment penalty of MMK 2,000 per day accrues for each day the repayment remains unpaid, without affecting any other rights Better may have.
11.3 Providing a grace period is at Better's discretion and you have no grounds to complain if it is not offered in future, and the number of grace days may change.
11.4 Continued failure to fix a late payment may lead to: further penalties; restriction or suspension of your account and related services; deactivation of a financed device (Section 15); a demand on your Guarantor (Section 7); reporting to credit bureaus or authorities; and debt recovery or legal action (Section 21).
11.5 You may make multiple payments if you have one or more loans and ensure that the Loan IDs and corresponding payment amounts are carefully verified before proceeding with payment.
12. FEES AND CHARGES
12.1 An admin fee applies to each loan, calculated as a percentage of the product price or financed amount, as disclosed to you at application.
12.2 Fee rates are set by Better based on your credit risk profile, the facility's tenure, market conditions, and Better's pricing policies, and may vary between Customers and products.
12.3 Better may change fees for new applications, but fees already disclosed and agreed for an existing active facility will not be unilaterally increased, except as required by law.
12.4 Once a facility is confirmed and disbursed, fees and charges disclosed to you cannot be disputed, negotiated, or reduced.
13. BILLING AND STATEMENTS
13.1 Better will issue billing statements through the mobile app or another channel under Section 19 (Communication and Notice), showing outstanding principle, accrued fees, any penalties, and the next instalment's amount and due date.
13.2 You must review each statement promptly and notify Better in writing of any discrepancy within the period Better specifies; otherwise, the statement is treated as accurate and binding, except for clear errors.
13.3 Your payment obligation continues even if you do not receive a billing statement, as long as Better has taken reasonable steps to issue it through the designated channels.
14. LATE PAYMENTS
14.1 In addition to the MMK 2,000 daily late penalty specified in Section 11, Better may impose that daily late fees as outlined in the product terms. Aggregate late charges shall not exceed fifteen percent (15%) of the total outstanding balance.
14.2 Better may publicly announce a Customer's default, including through its official channels such as the Facebook Private Group referred to in Section 19, as permitted under Myanmar law and subject to reasonable privacy safeguards.
14.3 Better may report your default and repayment history to credit bureaus, regulatory authorities, or law enforcement, per Sections 22 and 23 (Privacy and Use of Personal Data) and applicable law.
14.4 For late payments, Better may take actions including follow-up notifications, outreach, sweeping funds from your wallet, or legal notices, among others.
15. EARLY REPAYMENT
15.1 You may repay your outstanding loan balance early by notifying Better and paying the full outstanding principal plus any accrued fees, charges, and penalties as of the settlement date.
15.2 Admin fees and other charges already paid or accrued before early repayment are non-refundable, in whole or in part.
15.3 Early repayment does not reduce, rebate, or waive the lease charges, financing charges, or admin fees agreed at the outset, unless Better expressly agrees otherwise in writing.
16. RIGHT OF WITHDRAWAL
16.1 You may withdraw from an application or confirmed order within the period specified in the applicable product terms, provided the product has not yet been collected, activated, or used.
16.2 Withdrawal requests submitted after this period, or after the product has been collected, activated, or used, will not be accepted, unless Better decides otherwise at its discretion.
16.3 If your withdrawal is validly submitted and accepted, Better will refund the refundable amount after deducting any non-refundable fees or charges disclosed to and accepted by you at application. The refund will go to your original payment source, or another channel Better reasonably determines, within a reasonable period.
16.4 Better may reject any withdrawal request that does not fully meet these conditions. Better's determination on validity, completeness, and timeliness of a withdrawal request is final and binding, except where law requires otherwise.
17. PRODUCT OWNERSHIP
17.1 Regardless of delivery, collection, or possession, legal and beneficial ownership of a BNPL-financed product remains with Better (or its financing partner) until you have made full and final payment of all sums due, including principal, fees, and penalties.
17.2 You may not sell, sub-lease, pledge, encumber, or otherwise transfer the product to any third party before full repayment.
17.3 If you materially default and do not remedy it after notice from Better, Better may repossess the product directly or through authorized agents, as permitted under Myanmar law, and may still recover any shortfall between the repossessed product's value and your outstanding balance.
18. COMMUNICATION AND NOTICE
18.1 Better may deliver notices or communications through: (i) email, if you've provided a valid address; (ii) SMS to your registered mobile number, including your Guarantor's number for guarantor-related matters; (iii) Viber; (iv) Better's official Facebook Page; and (v) in-app notifications.
18.2 A notice is considered validly given and received once sent through any of these channels. You are responsible for keeping your contact details with Better current and accurate.
18.3 You consent to receiving communications including marketing, servicing, and collections messages through these channels, subject to your right to manage communication preferences under applicable law.
19. ACCOUNT DELETION
19.1 To delete your account, submit a request through Better's mobile app following Better's designated process.
19.2 Your deletion request will not be processed if, at the time of request, you (i) have any outstanding payment obligation; (ii) are involved in an ongoing legal proceeding or dispute with Better; or (iii) have an unresolved issue with a seller from a Better Store transaction.
19.3 If none of the above apply, Better will process your deletion request within ninety (90) days of receipt.
19.4 Better may approve or reject a deletion request at its discretion, including where deletion would conflict with Better's legal, regulatory, or risk management obligations.
19.5 Deleting your account does not remove any liability you accrued before deletion, you remain fully liable for outstanding obligations. Better may retain your records for as long as required by law, including anti-money laundering and financial record-keeping rules.
20. TERMINATION AND DEFAULT
20.1 A breach of this Agreement includes, without limitation: late repayment; providing false, misleading, or fraudulent information; unauthorized transfer of a lease to buy product; loss of eligibility under Section 2; or any other act Better reasonably considers a breach of your obligations.
20.2 If you breach this Agreement, Better may, among other actions: declare all outstanding sums immediately due; suspend or write off your account and access; repossess any financed product (Section 18); demand payment from your Guarantor (Section 7); report the default to credit bureaus or authorities; and pursue legal remedies under Myanmar law.
20.3 Better may terminate this Agreement and your membership at any time upon notice, including if Better stops offering the Loan Product, without affecting obligations already accrued.
20.4 Ending this Agreement, whether by Better or through account deletion, does not affect any right, obligation, or liability accrued before termination.
21. PRIVACY AND SECURITY
21.1 Better collects, processes, and stores your personal data including identity, contact, employment, financial, and transactional information to provide, administer, and improve the Loan Product, and to comply with Myanmar law.
21.2 Better retains your personal and data only as long as necessary for these purposes, or longer if required by record-keeping obligations, including anti-money laundering regulations.
21.3 Better handles your personal and data consistent with applicable Myanmar privacy and data protection requirements, including protections under the Constitution of the Republic of the Union of Myanmar and Central Bank of Myanmar regulations.
21.4 By accepting this Agreement, you consent to receiving communications from Better including servicing, collections, and promotional messages through the channels specified in Section 19. You also consent to your guarantor receiving the guarantor consent form via SMS communication.
21.4 Better collects, processes, and stores your guarantor data, including identity, contact details, and address information, for verification purposes and as a contact point in cases of fraud or when you cannot be reached.
21.5 This Agreement is available in Myanmar and English. If the two versions conflict, both are admissible and read together to reflect the parties' common intention, but the Myanmar version prevails before Myanmar courts or regulators, unless law requires otherwise.
22. USE OF PERSONAL DATA
22.1 Better processes your personal and data for: eligibility and creditworthiness assessment; account administration and servicing; fraud prevention and risk management; collections and recovery; regulatory reporting and compliance; and product development. For the guarantor data, we use for eligibility to be a guarantor; fraud prevention and contact point.
22.2 Better may share your personal data with partner organizations (only as needed to administer employment-linked benefits under Sections 4 and 5), payment providers like WavePay, credit reference agencies, and professional advisers, with appropriate confidentiality and data protection safeguards.
22.3 Better may report your personal data, including default and repayment history, to the Central Bank of Myanmar, credit bureaus, law enforcement, and other competent authorities where required or permitted by law, including anti-money laundering and counter-terrorism financing obligations.
23. AMENDMENTS TO TERMS
23.1 Better may amend, modify, supplement, or replace any part of this Agreement at any time without prior notice, including to reflect changes in law, regulations, or Better's business or risk policies.
23.2 Amendments will be notified through the channels in Section 19. Continuing to use Better's services after notification means you accept the amended terms.
23.3 Better may update this Agreement, including its version history and effective date. Each updated version replaces all prior versions from its stated effective date.
24. COMPLAINTS
24.1 You may raise a complaint through the customer service hotline, email, or another channel Better designates.
24.2 Better will acknowledge your complaint within a reasonable period and use reasonable efforts to investigate and resolve it consistent with Better's complaints policy and Myanmar consumer protection requirements.
24.3 If you remain unsatisfied, you may escalate the matter through Better's internal escalation channel, and afterward, where applicable, to the relevant regulatory authority or through the dispute resolution mechanism in Section 27 (Governing Law).
25. ASSIGNMENT
25.1 You may not assign, transfer, or novate any right or obligation under this Agreement without Better's prior written consent. Any such attempt is void.
25.2 Better may assign, transfer, or novate its rights and obligations, including to an affiliate, successor, or third-party financing/servicing partner, without your consent, provided it does not materially harm your rights under this Agreement.
26. GOVERNING LAW
26.1 Any dispute arising from this Agreement, including its existence, validity, or termination, will first go to good-faith negotiation and, if unresolved, to arbitration in Myanmar under the Myanmar Arbitration Law, or, at Better's choice, to the competent courts of the Republic of the Union of Myanmar, which have exclusive jurisdiction.
27. GENERAL PROVISIONS
27.1 If any part of this Agreement is found invalid, illegal, or unenforceable by a court or arbitral tribunal, that part is removed to the extent necessary, and the rest of the Agreement remains valid and enforceable.
27.2 If Better does not immediately use a right, power, or remedy under this Agreement, this does not mean Better has given it up — Better may still use it later, in full or in part, along with any other available right or remedy.
27.3 This Agreement is only between Better and you, unless stated otherwise. Anyone not a party to this Agreement has no right to claim any benefit under it or enforce its terms.
27.4 This Agreement, together with any product-specific terms, guarantor agreements, and referenced disclosures, is the entire agreement between you and Better on this subject, and replaces all prior understandings, written or oral.
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