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Invescore Wallet LLC

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Pocket application is an AI and fintech-based product of “Invescore Wallet NBFI” LLC and it offers online loan and payment services. “Invescore Wallet NBFI” LLC was established in May of 2019 and received the non-banking financial service license under Decree No 327 of the Financial Regulatory Commission of Mongolia on 25 November 2019.  
  Registering on the app: 
• Verification of phone number 
• National Identification Number 
• First and last name 
Privacy Policy 
We strictly adhere to the local regulations and laws of Mongolia. In addition, we keep the confidentiality of private information in a highly secure place. We are complaining to the Anti-Money Laundering Commission as well as the National Data Privacy Commission. We are compliant with the PCI-DSS international payment system and Information security management system ISO/IEC 27001 standards. 
Pocket application provides the following services under Mongolian laws and regulations:  
• Pocket Wallet 
• Payment system 
• Online Loan 
Pocket Wallet 
Register users can use their wallets to make payments, transfer money, or pay loans. We do not collect personal information from users, the user must provide it. 
How to get a loan? 
Once the customer downloads the application from the App Store and registers by using valid information, his/her credit scoring is evaluated based on our AI system and the Centralized Loan Database of the Bank of Mongolia. This prevents the customers from receiving multiple loans, which may fail to repay. Once the customer’s credit scoring is completed and the parties sign the Loan Agreement, the customer will be able to receive the loan anytime to his/her bank account or Pocket wallet without any additional criteria.  If the customer gets a loan that meets his requirements and pays on time, they can improve their rating and reduce the principal interest rate to 1.5% per month, equal to 18% APR. 
Long term Loan 
Loan amount: MNT 500,000 – MNT 35,000,000   
Monthly interest: 1.5%  
APR: 18%  
Loan period: 3-12 months 
Example: 
Principal loan - 500,000 MNT
Loan period – 3 months (can be extended before the end of the term)
Monthly interest – 1.5%
Monthly payment – 171,400 MNT
Total fee - 5,000 MNT
Total interest- 14,198.32
Total amount: 519,199 MNT 
Pocket Zero / Buy now pay later /
Pocket Zero is a service where you can make purchases from any shop with the Pocket Zero Trademark sign (our merchants) payments of which can be divided into 90 days. 
Loan amount: MNT100,000 – MNT10,000,000   
Monthly interest: 0%  
Term of loan: 90 days 
Example: 
Principal loan - 100,000 MNT
Loan period – 90 days (can be extended before the end of the term)
Monthly interest – 0%
Monthly payment – 16,700MNT
Total fee – 0 MNT
Total interest- 0 MNT
Total amount: 100,000MNT 
Car loan and real estate loan 
Users can send car and real estate loan requests.  
How to repay the loan? 
Customers can extend their loan repayment day as much as they wish.  Penalty interest will be charged in case of an overdue loan. It is 20% of the principal interest rate. Our system informs the customers regarding the repayment due date via SMS message, email, notification on the Pocket App, and a phone call from our customer service. The customers can repay the loan directly from Pocket applications, local bank applications, local bank branches, and ATMs. 
Contact us:  
Customer service: +976-19001188 
E-mail: info@pocket.mn  
Facebook: @pocketmn  
Address: 13th floor, IC Tower-1, Paris Street,  Sukhbaatar district, Ulaanbaatar, Mongolia

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