Pocket 4.0.17

The Pocket application, developed by "Pocket NBFI" LLC, integrates artificial intelligence and financial technology to provide a broad range of financial services. Established in May 2019, "Pocket NBFI" LLC obtained a non-banking financial service license under Decree No 327 from the Financial Regulatory Commission of Mongolia on November 25, 2019.

During registration, users are required to verify their phone number, provide their National Identification Number, and submit their first and last names. The platform’s operation complies fully with Mongolian legislation, ensuring the confidentiality and security of all personal data stored within secure facilities. The company adheres to international standards including PCI-DSS for payment security and ISO/IEC 27001 for information security management. Additionally, the company coordinates with relevant authorities such as the Anti-Money Laundering Commission and the National Data Privacy Commission to maintain compliance.

The services available through the Pocket application are provided in accordance with Mongolian laws and include:

• QR code-based payment solutions
• Online loan offerings

The platform does not collect personal information directly; rather, users are responsible for providing accurate data during registration. Once registered using valid credentials obtained from the App Store, a user’s creditworthiness is assessed via our AI system integrated with the Centralized Loan Database of the Bank of Mongolia. This process aims to prevent multiple simultaneous loans that could jeopardize repayment capability. Upon successful credit evaluation and signing of the Loan Agreement, customers can access funds directly into their bank accounts without additional conditions. Timely repayment and maintenance of a good credit score can lead to interest rate reductions down to 1.5% per month, equivalent to an 18% annual percentage rate (APR).

The Long-term Loan product offers amounts ranging from MNT 500,000 to MNT 35,000,000 with a monthly interest rate of 1.5% (APR: 18%) and a repayment period spanning 3 to 18 months. For example, a principal of MNT 500,000 over three months would entail a monthly payment of approximately MNT 171,400, with a total repayment amount including interest reaching around MNT 519,199.

Additionally, the Pocket Zero service enables consumers to make purchases at participating merchants displaying the Pocket Zero Trademark sign. Payments made through this service can be divided over a period of up to 90 days. Loan amounts range from MNT 100,000 to MNT 10,000,000 with an interest rate of 0%. The repayment period is fixed at 90 days, with options for extension before the due date. For instance, a MNT 100,000 loan can be repaid with monthly installments of approximately MNT 16,700 without any additional fees or interest charges.

Repayment flexibility is accommodated through an option to extend loan maturity dates at any time. Penalty interest at 20% of the principal interest rate applies in cases of overdue payments. The system actively notifies customers regarding upcoming due dates via SMS, email, app notifications, and direct calls from customer service representatives. Repayments can be completed via Pocket app, local banking applications, bank branches, or ATMs.

For inquiries or support services, customers may contact us at +976-19001188 or via email at [email protected]. The company’s office is located on the 13th floor of IC Tower-1 on Paris Street in Sukhbaatar district, Ulaanbaatar.