Carsdholder
Terms of Use

These terms and conditions form the Agreement between Us, andshall be referred to as the “Agreement” or “Terms and Conditions”.

Your Account and Card areissued by NymCard Payment Services LLC [www.nymcard.com] and powered by Maly who provides the Online Services (defined below) in their capacity as an Agent of NymCard Payment Services LLC.

Nymcard Payment Services LLC holds a license from the Central Bank of UAE under the RetailPayment Services and Card Scheme (RPSCS) Regulation (license number 08.01.02.001.2022.02)dated 01.06.2022 and is licensed Card Issuer by Mastercard / Visa. NymCard and its affiliates shall bealso providing you with Card Services.

Nymcard Payment Services LLC will be responsible for executing Transactions (defined below) and shall ensure that it has all the necessary approvals required by theCentral Bank of the UAE in relation to conducting any regulated activities in the UAE.

By requesting for issuance of and /or using the Account and Prepaid Card (the “Card”) issued by Us, Youconfirm that You understand, accept and shall comply with these Terms andConditions and KFS. Your Card is non-transferable, and it may be cancelled, suspended,or revoked at any time without prior notice subject to applicable laws ornon-compliance of these Terms and Conditions.

Pleaseread these Terms and Conditions carefully. By proceeding, you acknowledge andaccept that:

• Failure to     comply with these Terms and Conditions may result in suspension,     restriction, or termination of your Card and Account.
• Funds may be     frozen, forfeited, or withheld in cases of non-compliance or breach.
• Legal action     may be taken where necessary, and relevant information may be reported to     regulatory authorities and/or credit bureaus, which could affect your     access to financial services in the future. If you do not agree with these     Terms and Conditions, you should not proceed with using the services.

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In these Terms and Conditions, thefollowing terms shall have the following meanings:

“Account”                                         means the account and Prepaid Card held andmaintained by You which is used for executing Transactions

“Agent”                                             means,in respect to this Agreement, the [Client/Fintech Name] provisioning the following services onbehalf of NymCard: Payment Initiation, collection of Personal Data for thepurpose of Identification Checks and providing you with Online Services;

“ATM”                                                 meansAutomated Teller Machine.

“AED”                                                means United Arab Emirates Dirhams, currency ofUnited Arab Emirates.

“Available Funds”                           means the existing balance in the Accountand Card that is available for utilization or withdrawal, as reduced by any Transactionamounts which have been reserved, blocked, are pending or have otherwise notbeen processed or released.

“BaseCurrency”                             refersto the default currency and any Transaction

performed by You in a currency notavailable on the Card will be converted into the Base Currency. The BaseCurrency for your Account and Cards is Emirati Dirhams (AED).

“Business Day”                                means any day of the week, excludingFridays after 1pm, Saturdays, and Sundays and statutory holidays in the UnitedArab Emirates.

“Card, Prepaid Card”                     means each prepaid cardissued to You or a supplementary Cardholder, whether with or without Your namebeing printed or embossed on the physical Card and which may also be in theform of a virtual card. Any references to ‘Card’ also include any ReplacementCard, and/or any Supplementary Technology deployed by us for use with Your Cardwhere appropriate.

“Card Number”                               means the unique sixteen-digit number printed or embossed on the face or reverse ofthe Card, or as displayed on the app.

“Card Fund”                                    means the aggregate sum of all the funds loadedonto the Card.

“CardServices”                              means any services provided by us, our third-party service providers, or the ProgramManager, in connection with the Card, including call center services.

“Charges”                                        meansall and any amounts (including but not limited to any Transactions fees,monthly subscription or platform fees, service charges, additional expenses,damages, legal costs and disbursements) payable by You arising from usage ofthe Card services under these Terms and Conditions.

“Country”                                         The United Arab Emirates (UAE)

“Currency”                                       means Emirati Dirhams (AED) and any additional currency that We may make available in connection with the Card from time to time and includes, without limitation all Charges.

“Customer Support”                     means the department made available for You to handle any inquiries, complaints and general Card support.

“E-commerce website”                means internet websites where merchant (Retailer) accepts the Card for purchase of goods and services.

“Identification Checks”                means checks carried out in order to obtain, verify and record information that identifies each person who purchases or loads funds onto a Card. We may ask You for Your name, address, date of birth and other information, directly orindirectly that will allow us to reasonably identify You. We will ask to see Your passport, ID, and/or other identifying documents where required. The activationof the Card is subject to successful verification of Your identity by the Issuer.

“Issuer”                                              meansNymCard Payment Services LLC (‘NymCard”) a company licensed by the CentralBank of UAE under license number 07.01.02.001.2022.02 with registered address atAl Safouh Second, Al Salam Tower, 27th Floor, 2703, P.O. Box 451240, Dubai, UnitedArab Emirates.

“KFS”                                                 means Key Fact Statement

“Limit”                                               meansthe limit set by us for usage on the Card for cash withdrawal or purchase ofgoods and services, subject to the Available Funds. We may change the set limiton the Card at any time at our sole discretion.

“Load” “Loaded” “Loading”         means to add money to the Card, and‘Loaded’ and will be construed accordingly.

“Merchant”                                       means any establishment,retailer, corporate entity, person or other virtual establishment, supplyinggoods and/or services, which accepts the Card as a mode of payment.

“Online Services”                           means optional mobile application(s)or websites that may be made available to You tomanage Your Card / Account. Online Services may enable You to use YourRegistered mobile device to manage your Account and Card, perform Transactionssuch as balance enquiries, view available funds and Customer Supportcommunications in addition to initiating payments.

“PaymentInitiation”                    means initiate a PaymentOrder at the request of the User with respect to your Account and Card heldwith Nymcard. For the avoidance of doubt, Payment Initiation does not involvethe holding of funds at any time;

“PaymentOrder”                           means a request by the User to initiate aPayment to Merchants for purchase of goods or services, to load your Card fromyour Account or transfer funds to another User within the same Applicationprovided as part of the Online Services;

“Personal Data”                             means any information and data in any form that relates to a natural person, whicheither directly or indirectly, in combination with other information availableor likely to be available with Us, is capable of identifying such person (e.g.,telephone number, name, address, transaction history etc.).

“PIN”                                                  meansva unique Personal Identification Number allocated to each Card.

“POS Terminal”                               means point of sale or an electronicterminal available at Merchants whether local or international, capable ofprocessing Transactions.

“PrimaryAccount                          means the person whose name is usedto open an

or Cardholder”                               account and the person who issuessupplementary card(s).

“Program Manager”                      NymCard and NymCard affiliates providing Card Services, support and such other servicesas determined by Us.

“Replacement Card”                     meansa substitute Card which may be issued to You    in the event of the loss or theft of Your Card.

“RestrictedUse’’                             means countries and regions in which the use of the Account and Card is currently prohibited. Countries and regions with restrictions include but are not limitedto Iran, North Korea, Crimea, Sudan. Restricted Use may also apply to certainMerchant Category Codes (MCCs). These restrictions may be amended from time totime.  

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“Shortfall”                                         means when in certaincircumstances the Available Funds and/or a particular currency in the Card dropsbelow zero (0).

“SupplementaryCardholder”     means the person nominated by the Primary Cardholder to use the Card and in whosename we issued a Supplementary Card. The Supplementary Card is linked to the primaryCard Fund.

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“Supported Currency”                 means local currency of issued service, which in this case is United ArabEmirates Dirhams AED or any other currency made available by Us.

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“Supplementary Technology”                 means anytechnologies or devices that We may introduce for use together with, or as areplacement for, Your Card and which may include without limitation, wristbands and mobile devices

“Transaction”                                   means transactions made by usingthe Account or Card, whether with or without use of the Card Number, PIN or signature, andregardless of whether any slip or other voucher was signed by You and includesany cash withdrawal made available by Us or the amount charged (or otherwisedebited to the Card) by Us or a Merchant for any goods, services or benefits(including but not limited to payments of monthly or yearly bills or subscriptions,redeem or unlocking of coupons or vouchers), whether or not such service wasutilized by You, obtained by the use of the Card, the Card Number or the PIN orin any other manner, including mail, telephone, facsimile or internet orders.

“Unsupported Currency”            means a Currency other than a Supported Currency.

“User, Card User,Customer”      means the authorized person whose name is on the Accountand Card, which is used to execute Transactions.

“We”, “Us”, “Our”                             means NymCard, andany other partner or third-party We may work with in respect to the issuance,management, or distribution of Account and/or Cards.

“Website”                                        means the website at the URL or any future URL applicable to Your Account and Card.

“You”, “Your”                                    meansthe owner of the Account and the person legally responsible for all Cardsissued.

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1.1          To apply for an Account and Card as a primary account holder or aSupplementary Cardholder, You must be at least eighteen (18) years old and aUnited Arab Emirates (UAE) resident. We may ask to see evidence of who You areand Your address. We may ask for documentary evidence to prove this and/or wemay carry out Identification Checks on You electronically. We may also ask fordocumentary evidence for any supplementary card’s Card User.

1.2          When we perform electronic Identification Checks, Personal Dataprovided by You may be disclosed to a registered third-party agency who maykeep a record of that information. By purchasing or requesting Our services,You agree to Your Personal Data as well as any other Supplementary Cardholder’sPersonal Data being passed to such agencies for this purpose.

1.3          Your Card will be issued to You on the basis of the requiredinformation that You have provided is accurate and valid. You agree to updateus of any changes to Your Personal Data when such change occurs, or as we mayrequest of You to confirm or update from time to time.

1.4          The approval of a Card and Account is subject to successfulverification of your or a Card User’s identity by the Issuer.

1.5          Activation of your Account will be effected once you load funds intothe Account.

1.6          Activation of supplementary Cards will be affected upon activating them through Card activation channels.

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1A. Key FactStatement “KFS” Disclosure

Before entering into this Agreement, We shallprovide the Customer with a KFS summarizing the essential terms and conditionsof the payment service. The KFS will include, but is not limited to:

1.      Fees and Charges: A clear breakdown ofapplicable fees, including issuance fees, transaction charges, foreign exchangemarkups, and any recurring costs.

2.     Usage Limits: Transaction limits,daily/monthly withdrawal caps, and spending restrictions.

3.     Customer Rights and Responsibilities:Including the right to dispute transactions, access data, and withdraw consent.

4.    Data Privacy & Protection: HowCustomer Data / Personal Data is collected, processed, and protected underapplicable laws.

5.     Termination and Refund Policy: Conditionsunder which the account or service can be closed, and any applicable refundpolicies.

6.     Liability in Case of Fraud orUnauthorized Transactions: The extent of customer liability in case of loss,theft, or unauthorized use.

7.     Customer Support Information: How tocontact Us for inquiries, complaints, or dispute resolution.

By proceeding with the issuance of a Card or Account, the Customeracknowledges receipt and understanding of the KFS

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2.1.   TheAccount and Card are not a checking, savings, or other bank account and are notconnected in any way to any other account.

2.2.  YourCard is a prepaid card, and is not a debit card or credit card.  

2.3 There will be no interest earned on anyAvailable Funds on the Card or in the Account issued to You.

2.4 The Card allows You or the Card Userto access the Available Funds which You or the Card User have loaded on to andcan be used to buy goods and services in-person and online, and to withdrawcash at cash machines, including other supported functions.

2.5 The ability to spend the Availablefunds is determined by the limits set out as part of Our program, as well asany limits You may have defined.

2.6 Various limits may apply to the Cardin respect of individual Transactions, as well as daily and weekly transactedamounts based on the limits You place on the Cards as well as the Card ProgramLimits.

2.7 You confirm that You have read andagreed to the schedule of Charges for usage of the Card for any Transaction mentionedin the attached Annex 1 and as may be amended and notified to You from time totime.

2.8    Asthe applicant, You are responsible for all Cards issued to You under theAgreement and for Charges that these Cards may incur.

2.9    Wemay at our sole discretion issue / restrict /withdraw any number of Cards thatrelate to your Account.

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3.1. The Card may only be used inaccordance with the Agreement and We have the right to restrict theservices/facilities provided pursuant to the issuance/usage of the Card at oursole discretion and terms.

3.2. The Card is only meant for the Card Holder’suse and expires on the date on the front of the Card and may be extended for alimited period subject to the Agreement. Upon expiry, You may be able totransfer the remaining funds to a new Card in accordance with our prevailingpolicy.

3.3 Subject tosufficient Available Funds and any restrictions in the Agreement, the Card canbe used worldwide at ATMs, POS Terminals or E-commerce website or any cardoperated machine or device, whether belonging to Us or other participatingbanks or financial institutions where logos appearing on the Card aredisplayed/ accepted and any other services so authorized on the Card by Us. TheCard may also be used at any Merchant location that accepts the Transaction forprocessing or displays the logo appearing on the Card. The Card may be used forretail purchases, cash withdrawals, purchase of goods and services via theinternet, telephone, facsimile and mail order or for any other servicesapproved by us, for Transaction values not exceeding the Limit (subject alwaysto sufficient Available Funds) from time to time.

3.4 If the CardUser wants to make a Transaction using their card or card details, they willneed to authorize it by using their card, a PIN number, Your signature or othersecurity code, password, biometric data or other personal identifier, or acombination of these. Where contactless payments are available, they can alsoauthorize a Transaction by touching the payment terminal with their card ordevice. We can’t cancel or stop a Transaction once they have authorized it

3.5 The AvailableFunds will be reduced by the full amount of each Transaction plus anyapplicable Charges.

3.6 We areentitled to set off any sum of money on the Card due from You to us against anypositive balance in the Account held by You with Us.

3.7 The Card canonly be used if it has sufficient Available Funds, and the Card User is solelyresponsible for ensuring that there are sufficient Available Funds for anintended Transaction. If, for any reason whatsoever, an intended Transactioncauses the Card to be debited in excess of the Available Funds (whether by useof the Card or towards any Charges), You are responsible for any shortfall onthe Card.

3.8 Due torestrictions, the Card may not operate in some countries and may not beaccepted at some Merchant locations which are not in compliance with either ourinternal policies or those whose MCC’s have been blocked by us.

3.9 Merchants that accept the Card arerequired to seek authorization from us or through any appointed paymentprocessor for all Transactions that are made and we cannot stop a Transactiononce authorized. Some Merchants may not be able to authorize the CardTransaction if they cannot obtain an online authorization from us.

3.10 Some Merchants, may place a hold onan amount greater than the value of Transaction that the Card User wishes tomake, which requires a pre-authorization for such an amount.  This requires the Card User to have AvailableFunds greater than the value of the expected Transaction. This extra amountwill be reserved to cover things like tips/gratuities, temporarily reducing thebalance available on the Card. However, the Card will only be charged for theactual and final amount of the Transaction You make. Excess amounts held beyondthe final Transaction amount will be released to You within 20 days' time.

3.11 Youacknowledge that the available balance in the Card may be different from thebalance amount as displayed through any channel, due to pending Transactions orother blocked amounts (being amounts transacted but not processed) relevant tothe Card.

3.12 Our record of any Transaction shallbe final and binding. You will not be provided with a printed statement, andcan check Your Available Funds via Online Services. You may also be able tomake a balance enquiry at some ATMs, although availability is dependent on thecountry and the ATM used and there may be a fee payable (to the ATM operator)for balance enquiries. It is Your responsibility to keep track of the AvailableFunds. You acknowledge that the amount stated on the ATM screen or a printedslip or receipt advice shall not for any purpose whatsoever be taken as aconclusive or up to date statement of the Card.

3.13 If You are entitled to a refund forgoods or services purchased using the Card, or another credit for any otherreason, such refund or credit will be made to the Card as when they arereceived, in the applicable Currency thereby increasing the Available Funds.

3.14 You agree that the Card will not beused in any manner that could damage, disable, overburden or impair the Card.You also agree that the Card will not be used for accessing or purchasing goodsfrom locations or internet sites providing unlawful activity or from otherrestricted merchants as prescribed by Us.

3.15 You must comply with all applicablelaws and regulations (including any foreign exchange controls) with respect tothe Card in the issuing country and the country of use. We reserve the right tosuspend the Card, terminate this Agreement and exercise any other remediesavailable to Us due to Your failure to comply with any part of this provision.You agree that we have no obligation to monitor, review or evaluate thelegality of Your Transactions and that such actions shall be Your soleresponsibility. We are not liable for any prohibited use or misuse of the Cardwhatsoever.

3.16 You shall be liable to pay anyamount debited to the Supplementary Card, and shall be jointly and severallyliable with the Supplementary Cardholder for any Card Transaction and Chargesrelating to the Supplementary Card and/or any amount debited to theSupplementary Card. 

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4.1 The Online Services are provided by Maly in their capacity of an Agent to NymCard and are provided to Youto gain access to your Card and Account and other payment services.

4.2 For any technical issues arising from the use of the Online Services only, please contact Maly on the following email: contact@maly.ai

4.3 Should You want to raiseany queries in relation to the Card or the Account or have more general queries, You can reach out to our Customer Support instead, using the dedicated channel provided on Your Online Services, emailsupport@nymcard.com or call 600505005 inside the UAE or +971600505005 from outside the UAE.

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5.1 The Account and Card can be fundedthrough a wire transfer either through an App or directly from Your bank account, or any channel as and when made available by Us. The Card can be loaded in any availableCurrency as permitted.

5.2 Your Available Funds are safe guarded in a bank account with Mashreq Bank PSC and will only be used for settling any spend on your Card and any applicable Charges as detailed in Annex 1.

5.3 Until the expiry of the Card or termination of the Agreement, You can load additional funds to the Available Funds through the supported channels (where We will advise You of the acceptable methods ofpayment) or through other methods made available by us from time to time,subject to certain limits and fees. A summary of applicable fees is provided in theKFS, with full details outlined in Annex 1: Charges

5.4 Unless stated otherwise, the Loadedamounts will be credited to the Available Funds when the Issuer receives suchamounts directly or indirectly through the permitted channels.

5.5 If the Load amount exceeds the maximum balance permitted by us from time to time, then at Our discretion suchexcess amounts shall not be loaded and shall be returned to its point oforigin.

5.6 We are authorized to withhold anyLoad and will not release the funds in relation to such Load if we havereasonable grounds to believe that such funds are from suspicious, illegal orillegitimate sources. We will contact You for further information and suchother necessary proof (to our satisfaction) on the source of such Loads. If weare not satisfied with such information or proof, we are authorized to surrender such amounts without any further notice to You, to the relevant lawenforcement authorities for further investigation and/or legal action.

5.7 You give Us irrevocable authorization to recover any funds erroneously loaded to Your Card. If an authorized reloadto Your Card has an error or if You require additional information, You mustcontact Us immediately.

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6.1 You may be required to sign the backof the Card as soon as You receive it if it has a signature strip on the back.

6.2 You and the Card User must keep theCard safe and the PIN and other security details (including but not limited toidentification number, password, and/or any other code that you use to accessthe Online Services, Account and / or the Card) confidential and safe at alltimes and not disclose them to any third-party. In case You breach theaforementioned obligation and/ or You don’t comply with it due to your ownnegligence or willful misconduct, You shall be solely responsible for thelosses resulting from such breach and / or non-compliance and You undertake toreimburse the related losses incurred by Us or any third party.

6.3 You must never; (i) allow anyone elseto use the Card, PIN or other security details; (ii) write down the PIN or anyother security information together with the Card; or (iii) give the PIN toanyone, authorized or unauthorized.

6.4 We will never ask You to reveal YourPIN.

6.5 The PIN may be disabled if anincorrect PIN is entered three (3) times. If the PIN is disabled, pleasecontact us at the number on the back of the card for assistance. If the PIN is disabled,or if a Merchant does not accept Chip and PIN, You will be required to sign forany Transactions at Merchants, provided that this is supported by andacceptable to the Merchant.

6.6 In the event of loss, theft ordisclosure to third party of any password by You or the Card User and / or incase of a real threat that has occurred or may occur to Your account, Youundertake to change the password(s) immediately.

6.7 You must promptly notify us by email,phone or by using the ‘Contact Us’ facility available on the Online Services ofany loss or theft of the Card or PIN or in case you couldn’t change thepassword as mentioned in section 6.7. We will suspend the Card to preventfurther use. If a lost Card is subsequently found, it must not be used unless Weconfirm it may be used. We will not be liable for any misuse of the Card orunauthorized withdrawal arising out of the loss, theft or misuse of the Card orthe PIN or password nor in case of any consequences due to a notificationfailure. You can avail for a Replacement Card in the event of loss or theft ofYour Card subject to You providing the necessary documents and information.Issuance of a Replacement Card may be subject to a Card Issuing Fee (Annex 1).

6.8 You will be required to confirmdetails of any loss, theft or misuse to us in writing through the channel madeavailable or through the call center and You must assist us, the police and anyother official investigation authority in any enquiries.

6.9 We may refuse to approve aTransaction and/or suspend the Card, with or without notice, if we think theCard has been or is likely to be misused or if You have breached the Agreement,including if we suspect any illegal use of the Card. If we do suspend the Card,we will inform You of our decision, unless such disclosure is prohibited by lawor would otherwise compromise fraud prevention or security measures.

6.10 We may suspend the Card, at anytime,with or without notice, if we think the Card has been or is likely to bemisused, or if You breach any important term or You repeatedly breach any termand fail to remedy it, or if we suspect any illegal use of the Card. We mayalso suspend the Card upon request of the card scheme or any authorized regulator.If we do suspend the Card, we will inform You of our decision, unless suchdisclosure is prohibited by law or would otherwise compromise fraud preventionor security measures.

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7.1 You must notify us of anyunauthorized Transactions through our Card Services number without undue delay and in any event no later than six months (6) months of the Transaction debitdate. We will request that You provide additional written information concerning any such Transaction and You must comply with such request.

7.2 You will be liable for all losses inrespect of the Card if You have (i) acted fraudulently; (ii) failed to use theCard in accordance with the Agreement; (iii) have failed to notify Us without undue delay on becoming aware of the loss, theft or misuse of the Card; or (iv)have failed to take all reasonable steps to keep the Card’s security features safe.

7.3 Where You arenot liable for an unauthorized Transaction, We will refund the value of thatTransaction and will have no further liability to You for any other losses Youmay suffer. If Our investigations conclude that the Transaction You havedisputed has been authorized by You, or on Your behalf, or You have acted fraudulently, We will not refund the value of the Transaction.

7.4 You should check Your Transaction history regularly. If You notice an error or a cardTransaction that You do not recognise, You must tell us as soon as possible and no later than (2) months from the date of the Transaction debit date.

We may also ask for additional information to help us investigate. We will not refund any unauthorised Transaction if we think that:

·  You have acted fraudulently

·  You have intentionally or with gross negligence failed to use the Card in accordancewith these Terms and Conditions,

·  You have intentionally or with gross negligence failed to take reasonable steps to keepthe personalised security details safe, or

· You have failed to notify us without undue delay.

Even if we have refundedYou for any unauthorised Transaction, We may later deduct the amount refundedfrom Your Card if after further investigation We conclude that You authorisedthe Transaction or You were not entitled to a refund or You acted fraudulently.

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88.1     If you have a dispute concerning the quality of goods or services bought with theCard, we won’t be able to refund you unless the Merchant (retailer) agrees to it.  If you have agreed that a retailer can take payment from your Card, we’ll only be able to initiate your claim ifall the following conditions apply:

•  theamount charged exceeds the amount you reasonably expected and agreed to pay

•  Youdid not receive the purchased item(s)

You must also give us any additional informationthat we ask for that is reasonable, for us to investigate whether you are entitled to a refund.

9.1 Charges and limits apply to the Card, as indicated in the Charges Schedule. The Charges We charge are subject to change from time to time, in accordance with this Agreement. Youwill be notified of any change in the applicable Charges through the OnlineServices.

9.2 You agree to pay and authorize Us to debit the Available Funds for the Charges set out in Annex1. These Charges may be debited from the Available Funds as soon as they are incurred.

9.3 From time to time, we may limit the amount You can load on the Card, or the amount You can withdraw from ATMs orspend at Merchants over certain time periods. Some ATM operators also impose their own limits on the amount that can be withdrawn or spent over a specific time period.

9.4 Certain Merchants may charge an additional fee if the Card is used to purchase goods and/or services. The fee is determined and charged by the Merchant by includingit in the Transaction amount and is not retained by Us.

9.5 Dynamic Currency Conversion (DCC) is a process whereby the amount of a Transaction is converted by a merchant or ATM to the currency other than the country’s localcurrency. In this case, the merchant or ATM operator is applying a foreignexchange margin to the applicable conversion rate that would apply to convertthe Transaction currency into another currency. This may result in an increasedcost to Your Transaction.

       For instance, You withdraw cash from an ATM that dispenses a currency other than that of the country where the ATM is located, the Merchant or ATM operator may convert the cash being withdrawn into the domestic (local) currency before converting it back to the cash being dispensed. It might occur even though the cash being dispended is the same as that of one of Your available Currency.

9.6 The foreigncurrency equivalent for the above-listed amounts will be determined based onthe Conversion Rate or the VISA Conversion Rate, as applicable.

9.7 For this section, a “day” is defined as a 24-hour period commencing at midnight time.

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10.1 A foreign exchange rate will apply in the following instances: (i) initial load orreload(s) using the card for a Transaction in a currency which is different tothe Base Currency or any currency available on the Card; (ii) POS TerminalTransactions where the Transaction is in a currency other than that availableon the Card; (iii) ATM withdrawals where the withdrawal currency is notavailable on the Card.

10.2 If a foreign exchange conversion takes place, the conversion will be undertaken at the prevailing exchange rate determined when funding Your Account and Card.

10.3 Foreign exchange rates are subject to variation and the rate that applies one day will not necessarily be the same on any other day.

10.4 Additional margins may apply in respect of foreign exchange conversions.

11.1 We may make Supplementary Technologies available to You for use in conjunction with or as a replacement for Your physical Card, which may include wristbands and mobile devices.

11.2 All Transactions using Supplementary Technologies will be subject to this Agreement.

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12.1 To close Your Account, please contact Our Customer Support. You can spend Your Available Balance by withdrawing funds at an ATM, by transacting at a Merchant or, if applicable,You can request Your Available Balance be returned via Withdrawal & AccountClosure service. All returns may be net of Transaction processing fees asoutlined in the KFS and as per Annex 1, and uncollected Transactions if any.

12.2 We will pay You Your AvailableBalance in local currency and balances in any other Currencies (whereapplicable) will be converted using the Conversion Rate applicable on theclosing date. Upon closure of Your Account, You may be asked to destroy or return the Card to Us. In any event, the Card linked to Your Account will beautomatically cancelled.

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13.1.    You may redeem the balance of any unspent funds into Your Bank account. Payment will only be made to a UAE bank account in Your name. Redeeming the balance ofunspent funds will be in AED.

13.2    A Transaction Processing Fee may be charged for redeeming unspent funds on theAccount and Card if: (i) You redeem unspent funds on the Card before theTermination Date subject to a cooling off period of 5 business days; or (ii)You redeem unspent funds on the Card and end this Agreement or (iii) You redeem unspent funds on the Card after the Card has expired (less any monthly Account fees applicable). Referto the KFS and Annex 1: Charges for a summary and full details of applicable fees.

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14.1 TheAgreement shall terminate on the expiry of the Account and Card issued to Youunder the Agreement but will not affect any of our rights.

14.2 We may endthis Agreement prior to the Termination Date by giving You at least two (2)months’ written notice by letter or email to the address You have provided Us.

14.3 You may endthis Agreement prior to the Termination Date at any time by writing to oremailing us.

14.4 Upon endingthis Agreement in accordance with the Terms and Conditions, You will no longerbe able to use the Card. The ending of this Agreement will not affect Yourright (if any) to redeem unspent funds in accordance with the Terms andConditions.

14.5 Upon endingthe Agreement in accordance with this clause 14, You will no longer be able to use the Card. Where applicable, theending of the Agreement will not affect Your right (if any) to redeem unspentfunds in accordance with above clause 13 of this Agreement.

14.6 ThisAgreement will not be considered terminated should You cancel Your subscriptionwith [Client], ifthere is a period of time remaining as part of said subscription. ThisAgreement will terminate when said subscription expires without renewal, orwhen the total time of the subscription ends.

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15.1 You aredeemed to have read, understood and agreed to be bound by this Agreement. Atany time, We may change, add, amend, supersede or supplement any or all of theprovisions of this Agreement. Such amendments will be available on the website ormobile application and will be effective from the date of such change. Suchchanges are deemed to be binding on You whether or not You have receivedspecific notice in person of such amendments.

15.2   We may amend the Agreement from time to time,in order to comply with applicable laws and regulations or as needed for ourbusiness.

15.3   We do our best to notify You of changes atleast two (2) months before the change is implemented on the website, withexception that changes that need to be implemented immediately by law.

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16.1. We shall be absolved of any liability in case:

a) You fail to avail the usage of the Card due to force majeure conditions including but not limited to natural calamities; legal restraints or any technical lapses in the telecommunication network or any other reasons beyond our actual control. Also We are herein absolved of any kind of liability arising due to a loss; direct or indirect incurred by you or any other person due to any lapse in the facility owing to the above-mentioned reasons;

b) not being in the required geographical range;

c) there is any unauthorized use of the PIN, or for any fraudulent, duplicate or erroneous Transaction instructions given by use of the PIN (unless confirmed by us to you that the Card is blocked or cancelled);

d) there is loss of any information during processing or transmission or any unauthorized access by any other person or breach of confidentiality;

e) there is any lapse or failure on the part of the service providers or any third party affecting the usage of the Card (and for this purpose, we make no warranty as to the quality of the service provided by any such provider);

f) any loss or damage whether direct, indirect or consequential, including but not limited to loss of business, contracts, or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by you or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error by us in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from your telecommunication equipment and the network of any service provider and our system or any breakdown, interruption, suspension or failure of your telecommunication equipment, our system or the network of any service provider and/or any third party who provides such services as is necessary to provide.

16.2. We shall not be involved in or in any way liable to you for any dispute between you and a cellular services provider or any third party service provider (whether appointed by us in that behalf or otherwise).

16.3. We shall not be held liable for any loss incurred by you due to use of the Card by any other person with your express or implied permission. We shall not be held responsible for the confidentiality, secrecy and security of the personal or account information being transmitted for effecting your instructions.

16.4. We shall not be held liable for any loss suffered by you due to disclosure of the personal information to a third party by us, for reasons inclusive but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal directive, for statistical analysis or for credit rating.

16.5. We will endeavor to make sure the Card continues to function, but its operation may be subject to interruptions and/or require periodic modifications and improvements; and to help reduce the risks, we may from time to time set revised limitations on the Transaction size, Loading amounts and other features of the Card.

16.1 We collect, protect, control, process and retain OurCustomer’s Personal Data for the purposes of providing payment services to youor otherwise to fulfil this Agreement. in accordance with the local applicabledata protection laws and regulations including but not limited to the Protection ofPersonal Data issued by the Central Bank of UAE dated 25/11/2020 (Circular No.8 – 2020), the UAE Federal Decree Law No. 45/2021 on the protection of PersonalData (the “PDPL”) and the ADGM Data Protection Regulations 2021.

16.2We take all the necessary measures to protect your Personal Data againstunauthorised or unlawful processing, accidental disclosure, loss, destruction,or damage. This includes legal, organizational, technical, and physicalsecurity measures.

16.3 YourPersonal Data will be processed if:

a)      You have given consent to the processingof your Personal Data for one or more specific purposes;

b)      processing is necessary for theperformance of a contract to which you are a party or in order to take steps atyour request prior to entering into a contract;

c)       processing is necessary for compliancewith a legal obligation to which we are subject to;

d)      processing is necessary for the purposesof the legitimate interests pursued by Us.

If You gave yourconsent to the processing of Your Personal Data, You have the right to withdrawit at any time.by sending us an email with a request atdataprotection@NymCard.com or through the Online Services available.

16.4 Why do wecollect your Data?

a) Identityestablishment and verification, anti-money laundering and terrorist financingmeasures, provision of Card Services, execution of contractual and other legalobligations

b) Information Wemay collect: your name, surname, nationality, personal number, date of birth,number of your ID document, a copy of your ID document, address, a photo, emailaddress, phone number, payment account number, IP address, occupation and otherinformation necessary to comply with anti-money laundering and terroristfinancing requirements and to provide You with Card Services.

c) We collectthis data directly from You and/or from third parties including but not limitedto identity verification service providers and financial sanctions databases.

d) We will storeyour data for 5 years as of the completion of a transaction or a businessrelationship.

e) We can providethis data to supervising institutions, credit, financial, payment and (or)electronic money institutions, courts, law enforcement institutions, taxauthorities, payment receivers, lawyers, auditors, other subjects with a legalaccess to this information and subjects with whom We have a contract but onlyif You give Your consent.

f) Storage andprocessing of Your Personal Data are governed by the laws of the UAE and theseUser Terms and Conditions. If You refuse to provide this data andor/information or withdraw Your consent, We retain the right not to enter intoor terminate this Agreement with you and to refuse to provide You with Our CardServices.

16.5 We may contact You by telephone,letter, SMS or email at the contact details You provide Us. You must let usknow immediately if You change Your name, address, phone number or emailaddress.

16.6 You confirm that you have provided completeand correct information and data about yourself and that afterwards, whenchanging or adding any data, You will enter only correct data. We will nottolerate invalid, false, incomplete or incorrect data and will pursue actions in accordance with its legalobligations. You shall bear any losses that occur with regard to the submissionof invalid, false, incomplete or incorrect data.

16.7 By requesting the issuance of orusing the Account and Card Services, You authorize Us to disclose and furnishto our authorized representatives, subsidiaries, associates, branches,assignees, agents or other connected parties (including the Program Managerand/or our third-party advisors) such information as we deem fit concerningYou, including but not limited to, the Card Services governed by thisAgreement.

16.8 Your Personal Data may be processedoutside of the country where the Card is issued, but We are required to haveadequate safeguards in place to protect Your Personal Data provided that such processing is approvedby the UAE Data Protection Applicable Laws and Regulations.

16.9  Before entering into an agreement for paymentservices, we shall provide the  Customerwith the following disclosures:

        a.We will only collect Data / Personal Data for a lawful purpose directly relatedto the functions or activities of the Customer;

        b.Whether the collection of Data / Personal Data is mandatory or voluntary forthe Customer;

        c.Where the collection of Data / Personal Data is mandatory, the consequences offailing to provide the required Data / Personal Data;

        d.A Customer's withdrawal of previously given consent shall not affect thelawfulness of Data processing based on that prior consent. Unless otherwisespecified, the withdrawal shall take effect within 30 calendar days from theCustomer’s request;

        e.A description of the Data / Personal Data being processed by or on behalf ofNymCard.

        f.When external data about the Customer is collected, the source of such Data /Personal Data;

        g.The Customer's rights and mechanisms to request access to, correct, or inquireabout their Data / Personal Data, along with how to contact NymCard forinquiries or complaints regarding data processing; and

        h.You have the legal right to escalate complaints to the Ombudsman Unit(Sanadak), an independent body established by the CentralBank of UAE. This right may be exercised only after you have submitted acomplaint to Us and received an unsatisfactory response or no response withinthe specified time. We shall provide you with detailed contactinformation of the Ombudsman Unit, which is publicly available.

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17.1 The Card is issued entirely at Your risk. We shall bear no liability whatsoever for any loss or damage arising from the issuance of the Card. The use of the Card shallbe at Your sole risk. By requesting the issuance of or using the Card You confirm assuming any and all financial risks incidental to or arising out of the Card’s usage with no further liability to us.

17.2 You agree to fully indemnify Us and hold Us harmless against any and all actions, proceedings, costs, losses or damages (including legal costs) You may suffer inconnection with the usage of the Card, any misuse of the Card, PIN and/or other facilities provided to You in relation to the Card and Account. This includesany liability arising from Your failure to maintain safe custody of the Card atany time before the Card is cancelled.

17.3 We will not be liable to You for: delays or mistakes resulting from You for breaching anyof Your obligations mentioned in those Terms and Conditions, Your willfulmisconduct or gross negligence or any circumstances beyond Our control,including, without limitation: (i) acts of governmental authorities, nationalemergencies, insurrection, war, or riots; (ii) the failure of Merchants toaccept or honor the Card; (iii) the failure of Merchants to perform or provideservices or goods; (iv) communication system failures; (v) interception ofcommunications; or (vi) mechanical defects, failures or malfunctionsattributable to Your equipment, any internet service, or any payment system.

17.4 We are not responsiblefor ensuring that ATMs and POS Terminals will accept the Card, or for the wayin which a Merchant processes a Transaction. We will not be liable to You forany non- acceptance of the Card, for disputes concerning the quality of goodsor services purchased on the Card or any additional fees charged by theoperators of these terminals (for example, when You withdraw currency from anATM, the ATM operator may charge You an additional fee for the service). These charges are outlined in the KFS.

17.5 Information sent over the internet may not be completely secure and the internet and theonline systems are not controlled or owned by us. Therefore, we cannotguarantee that they will function at all times, and we accept no liability for unavailability or interruption, or for the interception or loss of any information or other data.

17.6 We will not be liable under any of the following circumstances:

a)       If, through no fault of ours, there areinsufficient funds available on the Card to complete a Transaction;

b)      If the Card is not honored, is declined,is damaged or is confiscated at any ATM or POS Terminal for any reason;

c)       If the Card is not honored, or isdeclined at any Internet Merchant location for any reason;

d)      If an ATM where You are making a cash withdrawal does not have enough cash;

e)       If an electronic terminal where You are making a Transaction does not operate properly;

f)       If a Load has been declined due to our discretion;

g)      If access to the Card has been blocked after You have reported the Card lost or stolen;

h)      If there is a hold or Your funds are subject to legal process or other encumbrance restricting their use;

i)       If we (in our sole discretion) have reason to believe the requestedTransaction is unauthorized;

j)       If circumstances beyond our control (such as fire, flood or computeror communication failure) prevent the completion of the Transaction, despite reasonable precautions that we have taken;

k)       Any consequential damages, extraordinary damages, special or punitive damages; and

l)       Any other exception stated in this Agreement.

17.7 In the eventthat we are held liable to You, to the extent permitted by law, You will onlybe entitled to recover Your actual damages. In no event shall You be entitledto recover any indirect costs (including legal costs) consequential, exemplaryor special damages (whether in contract, tort or otherwise), even if You haveadvised us of the possibility of such damages. This provision shall not beeffective to the extent otherwise required by law.

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© MALY Tech Limited – Last revised: July 2025