Plutus Financial Group Ltd

Virtual Wallet*

Virtual Wallet is a tool on Choco Up’s platform that automates Choco Up’s customers’ repayment process by leveraging the technological infrastructure of third parties, any data obtained is safeguarded by their corresponding IT infrastructures. Customers who use Choco Up’s products may choose to set up their own Virtual Wallet accounts. All of their sales from different channels are deposited daily into their virtual bank accounts under Virtual Wallet. For customers utilizing Choco Up’s Upstart product, repayments are processed in real time by charging the pre-agreed percentage from each incoming deposit directly to Choco Up’s account. Customers can retain surplus funds within their Virtual Wallet or initiate transfers to their designated corporate bank accounts at any time. At the end of each day, Choco Up provides a comprehensive digital invoice and summary outlining the automated fund repayment Choco Up receives, as well as the underlying revenue transactions.

Use of the Virtual Wallet is optional for Choco Up’s customers. Those who prefer to operate through their own corporate bank accounts may do so without restriction. In such cases, the pre-agreed repayment amount is automatically retrieved in real time via electronic direct debit to Choco Up’s account.