B. RedotPay Card
REDOTPAY SERVICES TERMS & CONDITIONS
Last Updated: 2024年10月12日
THIS IS AN IMPORTANT DOCUMENT. PLEASE READ IT CAREFULLY.
These terms and conditions ("Terms") contain important information which apply to your dealings with us in relation to your Account with us and the Services (each as defined in this document). You should read these Terms carefully. Further additional terms and conditions may apply in relation to specific Services offered by us. Any such terms and conditions are additional to the terms set out in these Terms.
You should not construe these or any other statements in these Terms as legal, tax or financial advice. We are not acting as your financial adviser and you must not regard us as acting in that capacity. You should consult your own independent professional advisers before entering into any transaction and only enter into a transaction if you have fully understood its nature, the contractual relationship into which you are entering and all relevant terms and conditions.
PART A. GENERAL TERMS AND CONDITIONS
"Account" |
means the account established in respect of the Services and other items, which, among other things, include the Custodian Wallet, Self-Custody Wallet and/or Virtual Account, as applicable; |
"Acceptable Tokens" |
means (i) in the case of a Custodian Wallet, such virtual assets which would be accepted by the Group to be deposited into the Custodian Wallet, which include Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and USD Coin (USDC); (ii) in case of a Self-custody Wallet, such virtual assets which would be accepted by the Group to be locked in the Smart Contract Vault, which include USD Coin (USDC); in the case of Swap Transactions, such virtual assets which would be accepted by the Group, which include Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and USD Coin (USDC). Such list of Acceptable Tokens may be updated from time to time at the sole discretion of the Group; |
"AML/CTF" |
means anti-money laundering and counter-terrorist financing; |
"App" |
means the mobile application software owned and released by the Group, and available for download for Android or Apple iOS, including all content and services made available on or through the same, and any and all updates, upgrades, supplements, releases and versions thereof; |
"Applicable Law" |
means any Hong Kong or foreign law, rule, statute, subordinate legislation, regulation, by-law, order, ordinance, protocol, code, guideline, treaty, policy, notice, direction or judicial, arbitral, administrative, ministerial or departmental judgment, award, decree, treaty, directive, or other requirement or guideline published or in force at any time which applies to or is otherwise intended to govern or regulate any person (including all parties to this Terms), property, transaction, activity, event or other matter, including any rule, order, judgment, directive or other requirement or guideline issued by any governmental or regulatory authority; |
"ATM" |
means automated teller machines; |
"ATM Withdrawal Services" |
shall be as described under Clause 29; |
"Authorised Person" |
means any person you authorise (either alone or collectively) and we approve to act on your behalf in giving Instructions, entering into Swap Transactions or performing any other act in connection with these Terms;
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"Card Balances" |
shall have the meaning ascribed to the term in Clause 25.1(b); |
"Card Data" |
means the primary account number (PAN), expiration date and security code of a RedotPay Card; |
"Card Issuance Services" |
means the card issuance Services provided by a CaaS Partner to the Group, which enable the issuance of the RedotPay Card by the Group through the CaaS Partner under the relevant Card Network; |
"Card Limits" |
shall have the meaning ascribed to the term in Clause 25.3; |
"Card Network" |
means any international credit, debit and prepaid card network which is applicable in respect of your RedotPay Card; |
"Card Network Rules" |
means the by-laws, rules, regulations, orders, requirements and interpretations issued by the Card Network or otherwise communicated to the Group and which are applicable to the acceptance of Card Transactions by the Merchants and related matters in Hong Kong, as amended from time to time by the Card Network; |
"Card Transactions" |
means each transaction effected by using your RedotPay Card or PIN; |
"CaaS Partner" |
means any service provider which (i) offers credit card as service solutions to the Group and (ii) is an actual issuer of the RedotPay Card; |
"Chargeback" |
means a dispute filed by the Group that is sent through the relevant Card Network in accordance with the relevant Card Network Rules relating to a Card Transaction; |
"Confirmation" |
means a trade confirmation (or similar) relating to an Swap Transaction;
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"Converted Assets" |
shall have the meaning ascribed to the term in Clause 25.2; |
"Custodian Wallet" |
means the cryptocurrency wallet provided and hosted by the Custodian which allows a user to store with the Custodian the types of virtual assets that have been approved by the Group; |
"Custodian" |
means a third-party entity designated and appointed by the Group to provide secure wallet services for the holding and management of virtual assets, which, for the time being, includes Cactus Custody offered by Matrix Trust Company Limited (a company incorporated in Hong Kong). Such list of Custodians may be updated from time to time; |
"Enabled Device" |
means the mobile communications or other device successfully registered by you for use in connection with the App and Services; |
"Fees" |
means all applicable fees and charges imposed by the Group, the relevant CaaS Partner, the Custodian, the Smart Contract, the Card Network and/or otherwise in relation to the use of the Services, including the RedotPay Card, the Custodian Wallet, the Smart Contract Vault and/or the Virtual Account; |
"Group/we/us/our" |
means the RedotPay group, including RFTL, RDTL and/or their affiliates. The rights and obligations of each member of the Group under these Terms are several and not joint. No member of the Group shall be liable for an act or omission by another member of the Group; |
"Insolvent" |
means, if the person:(a) makes a general arrangement or composition with or for the benefit of its creditors;
(b) institutes or has instituted against it any voluntary or involuntary proceeding seeking relief under any insolvency, bankruptcy or other law affecting creditors’ rights, or, has a winding-up or liquidation petition presented against it and such proceeding or petition:
(i) results in a judgment of insolvency or bankruptcy of the person or the entry of an order for relief or winding-up, administration liquidation or similar; or
(ii) is not dismissed, discharged, stayed or restrained, in each case within 15 days of the institution or petition (as the case may be);
(c) is dissolved other than pursuant to a consolidation, amalgamation or merger;
(d) is unable to pay its debts as they become due and/or admits in writing its inability to pay its debts as they become due;
(e) seeks or becomes subject to the appointment of an administrator, liquidator, receiver, trustee or other similar official for it or for all or substantially all of its assets;
(f) causes or is subject to any event with respect to it which, under Applicable Law, has an effect analogous to any of the events specified in paragraphs (a) to (e); or
(g) takes any action in furtherance of or indicating its consent to any of the events specified in paragraphs (a) to (f);
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"Instructions" |
means all information, instructions, communications, orders or messages (including those relating to payments, transfers or other transactions), whether automated or not, referable to you; |
''KYC" |
means know-your-customer; |
"KYT" |
means know-your-transactions; |
"Locked Tokens" |
shall have the meaning ascribed to the term in Clause 35.2; |
"Merchant" |
means a retailer, merchant or other supplier of goods and/or services which accepts payment by means of a card, card number, PIN or card and signature; |
"Non-Trading Instructions" |
means an instruction given by you (or any of your Authorised Persons) in relation to any action other than Trading Instruction; |
"Other Third Party Services" |
shall have the meaning ascribed to the term in Clause 43.1; |
"Personal Data" |
means data, whether true or not, about an individual who can be identified: (a) from that data, or (b) from that data and other information to which the organisation has or is likely to have access; |
"PIN" |
means such code or number that is used by us for the purpose of identification when you access information, give any instruction or conduct any transaction using your RedotPay Card or when you access any other Services; |
"Pooled Account" |
shall have the meaning ascribed to the term in Clause 34.6; |
"Proscribed Address" |
means:(a) any blockchain address that appears in a list of addresses with which dealings are proscribed by the United Nations or another government agency or relevant authority under Applicable Law, or is part of a group of addresses that appears in such a list; and(b) without limiting the generality of this definition, an address stated on the United States of America Department of Treasury’s Specially Designated Nationals list; |
"Proscribed Person" |
means a person who, in our determination:(a) is in breach of any AML/CTF requirements and/or sanctions of any jurisdiction;(b) appears on a list of persons with whom dealings are proscribed by the United Nations or another government agency or a regulatory authority under Applicable Law; or(c) acts on behalf of, or for the benefit of, any person described in paragraph (a) or (b); |
"RDTL" |
means Red Dot Technology Limited; |
"RFTL" |
means Red F. Technology Limited; |
"RedotPay Card" |
means RedotPay crypto credit card, available as either a virtual or physical card, which is provided to you by the Group, allowing for transactions and access to credit secured by your deposited virtual assets held by the Custodian or your virtual assets locked in the Smart Contract (as the case may be); |
"RedotPay Main Account" |
shall have the meaning ascribed to the term in Clause 36.2; |
"Self-custody Wallet" |
means the cryptocurrency wallet in respect of which a user has control through holding the private key to the wallet and has full right, power and authority to manage the virtual assets therein, save as otherwise provided under these Terms; |
"Service Content" |
means data, information, materials, advertisements, text, audio, video, graphics, software and other content on the Site and App; |
"Services" |
means the Site, App, Service Content and all related features, services, content and applications (including those described in Clause 3.1) which the Group may make available to you from time to time; |
"Settlement Amount" |
means, in respect of a Card Transaction, the aggregate of (i) the monetary value of the Card Transaction, (ii) any relevant Fees for the Card Transaction, and (iii) any buffer as may be applicable at the Group 's sole discretion at the time of the Card Transaction; |
"Settlement Assets" |
shall have the meaning ascribed to the term in Clause 25.2; |
"Site" |
means the website https://www.redotpay.com/; |
"Smart Contract" |
means, if you are using a Self-custody Wallet in connection with the Services, the programmable agreement between the Group and you, which operates on a decentralised blockchain network and is designed to automatically execute, control and/or legally document the series of relevant events in connection with your use of the Services, including the RedotPay Card and the Smart Contract Vault; |
"Smart Contract Vault" |
means, if you are using a Self-custody Wallet in connection with the Services, the secure digital repository within your Self-custody Wallet that utilises smart contract technology to lock the Locked Tokens; |
"Smart Contract Vault Balance" |
means the total amount of Locked Tokens locked in the Smart Contract Vault, as may be increased or decreased according to these Terms; |
"Swap Agreed Communication Methods" |
shall have the meaning ascribed to the term in Clause 30.6; |
"Swap Transactions" |
shall have the meaning ascribed to the term in Clause 30.1; |
"Third Party Payment Providers" |
shall have the meaning ascribed to the term in Clause 33.5; |
"Third Party Service Providers" |
shall have the meaning ascribed to the term in Clause 43.1; |
"TPSP Accounts" |
shall have the meaning ascribed to the term in Clause 43.3; |
"Trade Marks" |
shall have the meaning ascribed to the term in Clause 9(a); |
"Trading Hours" |
shall have the meaning ascribed to the term in Clause 30.10; |
"Trading Instructions" |
an instruction given by you (or any of your Authorised Persons) in relation to Swap Transactions; |
"Transaction History" |
means the transaction history of your Account and Services and details of your Custodian Wallet, Smart Contract Vault and/or Virtual Account (as applicable); |
"User Termination" |
shall have the meaning ascribed to the term in Clause 13.7; |
"Virtual Account" |
shall have the meaning ascribed to the term in Clause 36.1; |
"Virtual Account Balance" |
means the total amount of Virtual Account Deposits deposited in the Virtual Account, as may be increased or decreased according to these Terms; |
"Virtual Account Deposits" |
such fiat which would be accepted by the Group to be deposited into the Virtual Account, which include US Dollars. Such list of currencies allowed to be deposited in the Virtual Account may be updated from time to time at the sole discretion of the Group; |
"Virtual Account Service Provider(s)" |
means the OuiTrust group (including UAB Kitakami Europe, Harmoniie SAS (an electronic money institution in France licensed by the Autorité de contrôle prudentiel et de résolution to execute payment transactions, including transfers of funds on a payment account with its user's payment service provider or with another payment service provider) and EasyEuro Financial Services Limited (a licensed money service operator with the Customs and Excise Department under the Anti‐Money Laundering and Counter‐Terrorist Financing Ordinance (Chapter 615 of the Laws of Hong Kong))), or any other concurrent and/or successor Virtual Account service provider(s) appointed from time to time; |
"Wallet Balance" |
means to the total amount of virtual assets held in your Custodian Wallet, as may be increased or decreased according to these Terms; and |
"you/your" |
means, jointly and severally, the individual(s) who is/are the user(s) of the Services provided by the Group. |