iCARD Wallet General Terms and ConditionsDownload as PDF file
Effective as of 1st of December 2016
These General Terms and Conditions (“GTC”) are the legal Agreement, concluded between Intercard Finance AD, www.icard.com, having its seat and registered office at: Bulgaria, Sofia, 76A James Boucher Blvd., PO 1407, UIN: 175325806, e-mail: email@example.com authorized and regulated by the Bulgarian National Bank as an Electronic Money Institution under the Electronic Money Directive 2009/110/EC (the “EMD”) with license No. 4703-5081/25.07.2011 and as a Payment Institution under the Payment Services Directive 2007/64/EC (the “PSD”) with license No. 4703-4331/23.06.2010, Principal Member of MasterCard, VISA and JCB, (hereinafter referred to as “Issuer” or “Intercard”) and Client.
The Agreement will be effective from the date of acceptance by Client ("Effective Date").
The following defined terms are used in this Agreement:
"Agreement" means these General terms and Conditions as they may be amended from time to time by Issuer;
"Agent" means a company different from Issuer, registered as Agent of Issuer;
"Client" or “User” means a person or entity, sole proprietor, Merchant or self-employed or other person with legal commercial or other activity, that registers with the Service or actually uses the Service;
"Client email address" means the email address provided by Client during sign-up;
"Card Organizations" means MasterCard International (“MasterCard”), VISA Europe (VISA), JCB Europe (“JCB”) or any other card association or organization applicable hereunder, including any parent, affiliate, subsidiary, or successor, of any of them, in which Issuer holds membership and is licensed to issue Cards and acquire payments, including in Internet, with Cards of such Card Organization.
"Cardholder" means a person to whom a Card has been issued and/or any authorized user of such Card;
"Chargeback" means a procedure in which an Issuer charges all or part of the amount of an interchange transaction back to the Acquirer in accordance with Card Organizations regulations;
“Currencies, supported by Issuer” means various currencies, including the Principle Currency as defined below, supported by Issuer during the delivery of the Service, in which Issuer issues electronic money in iCARD Wallet , notified on the website of Issuer for the Service.
"Consumer" means a physical person, who uses the Service for personal needs, different from his/her business, commercial or professional needs or activities. Any other physical or legal persons, using the Service for commercial or professional activities is not a consumer, and some parts of the GTC do not apply to persons who are not consumers or a dealt with differently.
"Disputes" means any disagreements, complaints, litigation, arrangements and/or other such disputes between Issuer and Client arising from this Agreement or in relation to the use of Service, or any applicable law;
"E-money" means electronic value issued by Issuer on receipt of funds, registered in electronic form in Issuer Register of e-money in Issuer IT System and indicated as a Balance of Client in iCARD Wallet, which represents a claim of Client against Issuer for redemption. E-money is not a deposit. E-money, and therefore the Service, is not subject to any Financial Services Compensation Schemes nor any public or private insurance schemes.
"Funding instrument" means the credit card, debit card, or other payment instrument which Client registers for use with the Service and which will be used by Issuer to receive funds against which Issuer shall issue e-money for Client, in order to process Funding Transactions or payment operations, or for other purposes under the Agreement or the law.
"Funding transaction" means the transaction by which Issuer debits Client’s funding instrument with an amount, equal to the amount of e-money to be issued by Issuer, performed with the purposes of payment of amount for e-money, or also execution of payment transaction through the Service or for verification of funding instrument or charging Client under this Agreement;
"Goods and Services" means any digital or physical merchandise, goods or service, products, digital content, advice, opinion, offer, proposal, statement, data or other information displayed or distributed, purchased or paid through the Service.
"iCARD Wallet " means the e-money account that Issuer provides to Client under the GTC. Depending on identification, verification or legal status Issuer may provide different e-money accounts, such as for example iCARD Wallet Basic, iCARD Wallet Standard with/or without iCARD Prepaid ard/s, iCARD Wallet Junior, Business iCARD Wallet for legal persons, sole traders, Merchants or self-employed professionals or other persons with legal commercial or other activity, or other types of e-money accounts as provided by Issuer, which specifics, transactions and general limits, determined by Issuer are set in the Tariff. Functionalities for outbound transfers outside iCARD system, cash funding and withdrawal and others at Issuer discretion are not available for iCARD Wallet Basic. More information regarding type of e-money accounts, eligibility, specifics, transactions and other limits is provided on Issuer website for the Service and/or in the User Interface of the Service. Issuer may introduce innovations, improvements, development, put or remove limits for risks and security reasons, upgrade accounts or amend the names of accounts unilaterally and without the consent of Client;
"iCARD Wallet Principle currency" means the currency selected by Client as default currency upon opening of iCARD Wallet , amongst the Currencies, supported by Issuer at time of opening of Client’s Wallet .
"iCARD Prepaid Card”, “iCARD Virtual Card" or other cards, collectively called "Card" means a payment instrument with the logo of Issuer and one of the Card Organizations, with expiry date, issued by Issuer and providing possibility for cardholder to submit payment orders for payment transactions with the e-money. Card is always personalized with personalized security characteristics, such as PAN, expiry date, CVV or CVC or similar characteristics and with or without cardholder names. Card is associated payment instrument with the Wallet of Client and provides access to the e-money in Client’s Wallet.
"User interface for the Service", or "iCARD System" or www.icard.com (website for the Service), or all related URLs, or "iCARD Mobile" or other iCARD mobile app for smart devices, or any other domain, software or mobile application, provided by Issuer, accessed by Client via Internet, represent the IT System of Issuer, used as platform for Registration of Clients, concluding Agreements and Use of the Service, and are also payment instruments providing possibility for Client and persons authorized by Client to submit payment orders for payment transactions with the e-money;
"Issuer" means Intercard Finance AD or its Branches;
"Identifying Credentials" or "Identifying Details" means all personalized security characteristics of all payment instruments, such as the username and password, cardholder data, PAN, expiry date, PIN, CVV, CVC or similar codes, security codes and all other unique and/or identifying information that Issuer issues to Client to access Client iCARD Wallet and/or make payment orders with the e-money or payment instruments;
"Mass transfer" or "Mass payment" is part of the Service, available to Client with Business Wallet, which enables the Client to submit payment orders for mass payments (money transfers to multiple payees) via the website of Issuer."Merchant" means any person or entity that uses the Service to sell Goods and Services and receive Amounts for Goods and Services.
"Payment transaction" means the transactions for payment on POS, payment in Internet for Goods and Services, ATM withdrawal, electronic money transfers or any other payment transactions with e-money or with payment instrument available for the Service. Issuer may improve, develop, put or remove limits or amend the payment transactions available for the Service unilaterally and without the consent of Client;
"Non-payment transaction" means operations for check of balance, history transactions, statements, providing security for compensation of obligations (if applicable) and other non-payment transactions available for the Service;
"Payment Order" means all instructions from the Payer or the Payee to the Issuer, ordering execution of payment transaction;
"Payer" means a Client that submits or on behalf of whom is submitted the payment order;
"Payee" means a Client that is a recipient of the amount of the payment transaction;
"Service" means the Service, subject to the GTC, called “iCARD Wallet” or “iCARD Prepaid Card”, representing issuing of e-money upon receipt of funds, issuing of payment instruments with the logo of iCARD and performance of payment transactions with issued e-money via payment instruments, such as iCARD Prepaid Card, iCARD Mobile application or other iCARD mobile app or designated website of Issuer. Issuer may introduce innovations, improvements, development, put or remove limits or amend the Service unilaterally and without the consent of Client;
"Working Day" means a day that is not a Saturday, a Sunday or a Bank Holiday in Bulgaria or Luxembourg.
"Unique Identifier" means the combination of numbers, letters or symbols, notified by Issuer to Client, which has to be presented by Client upon execution of payment transaction, in order to identify the user of payment services correctly.
2. Legal relationship
2.1 Use of the Service by Client is subject to the Agreement.
2.2 By using the Service, Client purchases e-money from Issuer, which will be used to make payment transactions, such as transfer of e-money, POS transactions, including in Internet or ATM withdrawals or for other purposes under this Agreement.
3. Accepting the Agreement
3.1 In order to use the Service, Client must firstly agree to the Agreement. Client may not use the Service if Client does not accept the Agreement.
3.2 The Agreement forms a legally binding agreement between Client and Issuer in relation to use of the Service, and it is important that Client reads it carefully. By accepting the Agreement, Client agrees to use the Service in accordance with the requirements of the Agreement.
3.3 Client can accept the Agreement by:
(a) Clicking to accept or agree to the Agreement, where this option is made available to Client by Issuer in the user interface for the Service or via iCARD Mobile Application or other iCARD mobile app; or
(b) Signing the Agreement on a hard copy, if requested by Issuer; or
(c) Actually using the Service. In this case, Client agrees that Issuer will treat use of the Service by Client as acceptance of the Agreement from the moment of first use of Service.
3.4. By clicking to accept or agree to the Agreement, where this option is made available to Client by Issuer in the User interface for the Service the contractual relationship between Client and Issuer is concluded by electronic means of distant communication, as defined in Directive 2001/31/EC on the electronic commerce and other applicable laws. Clicking to accept or agree to the Agreement, where this option is made available to Client by Issuer in the User interface for the Service represents an advanced digital signature made by Client and therefore the electronic document of the Agreement is deemed as duly signed by Client.
3.5 Client may not use the Service and/or may not accept the Agreement and Issuer may temporarily stop or terminate the Service or Agreement immediately and without prior notice to Client, if:
(a) Client is not of legal age to form a binding contract with Issuer and operate the payment instrument or funding instrument for use with the Service; or
(b) Client is a person barred from receiving the Service under the applicable laws or Regulations of Card Organizations or other Organizations or rules or policies of Issuer;
(c) Client has not been dully identified or verified by Issuer, upon single discretion of Issuer; or
(d) Other important reasons, upon discretion of Issuer, such as risk and compliance;
3.6. Issuer shall be entitled to notify Client at any time on non-acceptance to the Service via e-mail. The decision for the refusal is strictly in Issuer’s discretion and Issuer shall not be liable for whatsoever compensations.
3.7. Client declares that Client is registering for the Service on Client’s behalf only and that Client is not acting on behalf or on account of third party, unless Client makes registration for the Service on behalf and under the instruction of the company of which Client is employee or legal representative.
4. Provision and language of the Agreement
4.1 A copy of the Agreement will be provided to Client in printable form during the sign-up process. A copy of the Agreement, as amended from time to time, is available to Client on the Issuer website for the Service.
4.2 After sign up Client may request to be provided with the Agreement, and a link to the Agreement will be sent to Client email address for printing.
4.3 The Agreement will be provided to Client in English. Where Issuer has provided Client with a translation of the English-language version of the Agreement, Client agrees that the translation is provided for Client convenience only and that the English-language versions of the Agreement will govern the relationship with Issuer. If there is any contradiction between the English-language version of the Agreement and a translation, the English-language version takes precedence.
5. Registration for the Service, Activation and Card Orders
5.1 To use the Service, Client must sign the Agreement in office of Issuer or Agent of Issuer or complete all required information elements on the User interface for the Service, provided by Issuer on the website for the Service.
5.2 Client must provide current, complete and accurate information and maintain it as current and accurate during use of the Service. In case of any changes in information provided by Client, Client agrees to update the information in the User interface for the Service or before Issuer without delay.
5.3. Issuer may require additional information as a condition of continued use of the Service or to assist in determining whether to permit Client to continue to use the Service or confirm the authenticity of any Funding instrument, registered by the Client. Client agrees to provide such information without delay, as Issuer may require in this regard.
5.4. The Service will be accessible to the Client after its activation. The activation of the Service is conditional upon a valid legal relationship with Issuer and identification and verification of Client.
5.5. The Card is not issued automatically. The Card is issued after a valid and correct application by authorized Client (Client who is eligible to order Card according to the Service), approval by the Issuer and payment of Issuing fee via the payment methods accepted by Issuer. The Card is issued in one of the currencies in Client iCARD Wallet, as selected by Client. The Card may be used only by Client and only after its activation, as instructed by Issuer.
6. Provision of the Service by Issuer
6.1 Sometimes Branches or Agents of Issuer will provide all or part of the Service to Client on behalf of Issuer. Client acknowledges and agrees that Branches or Agents of Issuer will be entitled to provide the Service to Client.
6.2 ISSUER is constantly introducing technical innovations, e.c. software changes, fixing of bugs, interface improvements or updates of both software and mobile application in order to provide the best possible experience for its Clients. Client acknowledges and agrees that the scope or form of the Service which Issuer provides may expand or change from time to time without prior notice to Client and without affecting the Service in a way of introduction of new fees, or increases of existing fees, or introduction of new and/or worsening conditions. However, where a change to the Service constitutes a modification to the preliminary information like increase of fees and commissions for the services, as well as any other preliminary information, or by modifying the Service which is narrowing the Service’s scope, which information Issuer, as provider of payment services, is obliged by the Payment Services and Payment Systems Act to present to Client prior to concluding this Agreement, Client will be given notice by an email sent to Client email address.
6.3 Client acknowledges and agrees that Issuer may stop providing the Service to Client, as provided in the Agreement. Client may stop using the Service at any time, without need to inform Issuer when Client stops using the Service.
6.4 Client acknowledges and agrees that in order to meet all obligations after the Anti-money laundering Act and the Act on prevention of financing of terrorism and other documents related to their execution, as well as all European and national legislation in the field, Issuer may establish general practices and limits concerning the use of the Service without prior notice to Client, including, without limitation, individual or aggregate transaction limits on the value or turnover of e-money, transaction or other limits on the value, type or number of Funding transactions or Payment Transactions during any specified time period(s). Issuer shall notify Client for every amendment in the common practices and limitations within reasonable time unless such notification is prohibited by aforementioned Anti-money laundering Act and the Act on prevention of financing of terrorism.
6.5 Issuer may refuse to execute any Funding or Payment transaction, Payment Order or other use of the Service if Issuer has reasonable grounds to suspect fraud, a breach of the applicable Agreement by Client or the Merchant, or a violation of law or regulation of Card Organization or other Organization. Transactions may also be delayed due to Issuer’s compliance with its obligations under applicable anti-money-laundering legislation, including if Issuer suspects that the transaction involves fraud or illegal or non-acceptable activities. In the event that Issuer refuses to execute a Funding or Payment Transaction or Payment Order, Client will be notified, unless it is unlawful for Issuer to do so or would compromise reasonable security measures.
6.6 Client acknowledges and agrees that if Issuer disables access to e-money account or to any payment instrument by stopping the use of Client Identifying Credentials or blocking the Card/s, Client may be prevented from accessing the Service, Client’s Wallet details or any files or other content which are contained in Client’s Wallet or connected to Client e-money or payment instruments.
6.7 iCARD Mobile or other iCARD mobile application for smart devices is available for downloading only for certain
Smart devices and Issuer is not liable for lack of availability of the Service on mobile or smart devices, or inability to download or use the Services via particular smart device, or lack of Service or part of the Service, because of lack of Internet or because of mobile operator services (such as SMS or other) or hardware specifics or problems.
6.8 Issuer is not liable for declined payment transactions or lack of Service, due to lack of enough balance in the Wallet or in the linked funding instrument/s, use of Card without name of cardholder or in case of Merchants not accepting payments with such Cards, or offline transactions (Cards are generally not accepted for offline transactions, such as payments on toll roads, or other, however, this does not exclude Client liability for offline transactions, if any), lack of Internet, or problems with hardware or software of Client, or exceeding the limits set by Client as allowed by the Service, or the general limits, determined by Issuer, or any other reason beyond the reasonable control of the Issuer.
7. Use of the Service by Client
7.1 Client agrees to use the Service only as permitted by:
(a) The Agreement;
(b) Characteristics, settings and limits of the Service, including setting of limits and options by Client as allowed by the Service, as published and updated by Issuer from time to time on Issuer website for the Service or in User Interface for the Service; and
(c) Any applicable law, regulation or generally accepted practices or guidelines in the relevant jurisdictions.
7.2. Purchase of e-money:
7.2.1. Client may purchase e-money by payment of the equivalent via bank transfer or with a payment card or Funding instrument or only where allowed by Issuer by payment in cash. Client agrees that the payment methods for purchase of e-money or funding transaction are not part of the Service, and are provided by the payment service provider of Client, issuing the payment card or Funding instrument or providing the bank account. Issuer is not liable for charges or fees, applied by other payment services providers.
7.2.2. Client agrees that Issuer may impose different limitations on amounts of purchased e-money, or special requirements, or not accept bank transfer from certain banks, upon discretion of Issuer.
7.2.3. E-money is issued by Issuer and Client iCARD Wallet is credited with the amount of issued e-money, equal to the amount received by Issuer, in the same currency as the currency received by Issuer and in the same working day of receipt of the funds by Issuer. Issuer is not responsible for and does not control when Issuer will receive the funds from Client’s payment services provider. Client will be notified through information in the Wallet about the balance and transaction history when the e-money is issued by Issuer.
7.3. Additional Rules for Purchase of e-money via linked Funding Instrument:
7.3.1. Client may decide to register a valid Funding instrument, of which Client is authorized holder, which will be used to fund the purchase of e-money for the Service. Purchase of e-money via Funding instrument may be for amount defined by Client or for the amount determined by Issuer, necessary for crediting of Client’s Wallet, in order to complete a payment transaction or charge Client as per this Agreement.
7.3.2. Issuer will store information which Client provide, such as Funding instrument details, and will process Funding transactions through the appropriate Card Organization. Client agrees that Client Funding instrument details will be used by ISSUER to:
(a) Debit or charge the Funding instrument for the purchase of e-money and/or processing of a Funding or Payment transaction, including all related fees, taxes or delivery charges, as applicable;
(b) Debit or charge the Funding instrument for processing of all payments which are required to charge Client for any other fees or charges arising from this Agreement or use of the Service;
(c) Upon explicit request by Client and consent of Issuer or in other cases of reversal of payment operation or refund of sums, to credit, if possible, to Client Funding instrument such amounts as may be necessary to effect any Reversal of a Funding or Payment transaction or refunds of amounts, through the Service.
7.3.3. If Client chooses to register multiple Funding instruments, Client must select the priority order, to be followed by Issuer for Funding transactions.
7.3.4. Client authorizes Issuer to confirm that Client Funding instrument is in good standing with the issuing institution or Operator, including, but not limited to by submitting a request for a payment authorization and/or a low-value credit and/or debit amount to the Funding instrument in accordance with the relevant Card Organization rules.
7.3.5. Client authorizes Issuer to obtain a credit report and/or to otherwise make credit or other background enquiries from time to time, as Issuer may deem appropriate, to evaluate Client registration for or continued use of the Service.
7.3.6. Client must give consent to the execution of a Funding transaction for it to be authorized.
(i) Principle of debiting order: Client agrees that by using the Service, Client is providing consent for the Funding transaction to be processed in case of order by Client or not enough balance in Client iCARD Wallet and agrees that, once consent has been provided by Client, the authorized Funding transaction can no longer be revoked.
(ii) Option for change of debiting order: Client may via User Interface for the Service enable and disable afterwards consent for automatic Funding transaction for purchase of e-money with the purpose of execution of certain payment operations, such as payment with Card on physical and virtual POS, without charging fee for funding, as defined in Tariff, even in case of available balance in the Wallet. In order to enable this option, Issuer may have requirements for Client’s funding instrument, such as verification of funding instrument or others. If Client activates this option, Client (1) cannot dispute or make chargeback of funding operation as unauthorized or not necessary because of enough available balance in the Wallet and (2) agrees that if linked funding instrument cannot be debited for some reason and Client has enough balance in Wallet, then balance will be debited. Issuer may offer to Client option for interactive selection of debiting of linked funding instruments instead of available balance during payment in which case Client’s interactive choice will have priority over settings for debiting order of balance and linked funding instrument.
7.3.7. By agreeing with this Agreement Client authorizes unconditionally and irrevocably the execution of a Funding transactions and Issuer will debit the Funding Instrument via the respective Card Organization and upon receipt of funds shall issue e-money into the Wallet of Client.
7.3.8. Funding transactions with some Funding instruments or funding methods may be rejected or limited by Issuer in order to avoid conflict between various Services by Issuer or other grounds, or may be rejected or delayed, for reasons beyond Issuer control. Issuer does not guarantee the acceptance of any particular funding method, and may make changes or discontinue the acceptance of any particular funding method at any time and without prior notice to Client, for which Issuer is not liable.
7.3.9. Client agrees that Client cannot make a successful Chargeback after a Funding transaction, on ground goods not delivered or similar, as the purchased e-money (purchased goods) are issued (delivered) by Issuer upon receipt of funds or because of fraud or unauthorized use of Wallet or Card or Funding instrument, because, Client agrees to the use of Funding instrument by Issuer for Funding transactions and agrees not to disclose Client Identifying credentials for use of e-money and/or payment instruments and/or Card by unauthorized persons.
7.4. Payment orders with payment instruments
7.4.1. Client may submit payment orders for transactions with electronic money in Client’s Wallet or Funding operation using Client Identifying Credentials and/or the payment instruments provided by Issuer, such as User interface of the Service, namely iCARD website, or iCARD Mobile (if applicable for the specific type of Wallet) or the Card or other similar payment instrument as may be provided by Issuer. Business Wallet Client may submit multiple payment orders for mass payments (separate payment orders for multiple Payees submitted by template for convenience of Client) using the User interface of the Service, which orders will be treated and charges as separate payment orders, which are confirmed by Client with a single click or single confirmation and all become irrevocable after the single confirmation by Client.
7.4.2. Client is fully liable for providing full and correct payment order and correct identifying data for the Payer and/or Payee, such as:
(a) For electronic money transfers within iCARD System: mobile phone of Payee (recipient), or e-mail of Payee or unique identifier of Wallet and other requested by Issuer in the User interface of the Service; or
(b) For electronic money transfers from and to a payment system, different from iCARD System (Bank or other payment services provider, different from Issuer): unique identifier of iCARD Wallet of Payee and/or Payer and/or IBAN or SWIFT code or other number of bank account of Payer and/or Payee and other data requested by Issuer in the User Interface of Service.
7.4.3. Receipt of Payment Order and Irrevocability: By clicking the button “Confirm” or “”Yes” in the User Interface of Service or using the Card, Client confirms that Client is making confirmed and irrevocable payment order to Issuer to execute the payment transaction or order to execute non-payment transaction, and debit or credit the Wallet with the transaction amount, and all applicable fees related to the payment or non-payment transaction, which reduces or increases the Balance of the e-money held by Client in its Wallet or if applicable debits the linked Funding instrument. Confirmed order received by Issuer cannot be revoked by Client. Payment orders received by Issuer after 12:00 pm or in day, which is not working day for Issuer, shall be deemed as received by Issuer in the next working day for Issuer.
7.4.4. Issuer shall execute the payment transactions ordered by Client, provided that the e-money held by Client in its Wallet is sufficient to cover the transaction amount and all due fees, including where Client has linked a Funding instrument and has authorized Issuer to charge the Funding instrument in order to purchase e-money for completion of the transaction. Issuer may refuse to execute a specific transaction if there is not enough balance of e-money оr linked Funding instrument cannot be debited, or Issuer reasonably believes that the payment order is made by unauthorized person or transaction is fraudulent, illegal or in breach of the present Agreement or any law or regulation.
7.4.5. Client agrees that Issuer may set other deadlines for performance for payment transactions in currencies, other than EUR or currencies of other Member States of EU, which shall be notified on Issuer website for the Service.
7.4.6. In case Client makes a payment order for transfer of electronic money to a customer, who is not registered for the Service, Issuer shall debit the Wallet of the Payer and shall make it available to the Payee only after due Registration for the Service, Agreement with GTC by Payee and identification and verification of Payee as requested by Issuer. Issuer shall inform Payee via SMS or e-mail on the amounts destined to Payee. In case the Payee does not register for the Service, or does not accept the Agreement, or is not dully identified and verified by Issuer, within 30 days of sending of the e-money, or in case the recipient refuses to accept the e-money, Issuer shall return the amount to Payer Wallet , less the applicable fee in the Tariff. Client agrees not hold Issuer liable for any damages resulting from a recipient's lack of due registration for or inability to use the Service or recipient decision not to accept a payment made through the Service.
7.4.7. Client acknowledges and agrees that a payment transaction is completed correctly by Issuer, even if it later becomes subject to a Reversal, Chargeback, Claim, Reserve or hold.
7.5. Payment transactions with payment Card
7.5.1 If Issuer has issued Card or Cards to Client, Client or authorized cardholder may make payment orders and transactions with the Card, associated with the Wallet of the Client and on account of e-money held by Client. The Card must be activated as instructed by Issuer. Card must be signed by Client. The payment transaction may be payment for Goods and Services on POS at Merchants accepting the Card as payment method, or in Internet, or ATM withdrawals or other, as indicated by Issuer in Tariff or on Issuer website for the Service.
7.5.2. The payment order executed with Card will be received by Issuer in electronic form. The Client’s consent for execution of the payment transaction with Card becomes irrevocable and the payment order becomes irrevocable when Client presents the Card for execution of the transaction and: (a) the chip or the magnetic stripe of Card is read by the ATM or POS device and/or a valid PIN and/or Client or authorized cardholder signs the receipt from the device; or (b) by giving the Card or entering it into a terminal and reading of its chip on a self-service terminal; or (c) by entering the data of Card, such as the 16-digits number, validity date or CVC2 code in the Internet; or (d) by providing the card data (number, validity, CVC2) to the provider of goods or services and authorizing him to use it for payment of the respective service by fax, telephone or other communication device.
7.5.3. Card, which has been personalized with names of cardholder must be used only by the cardholder to whom the Card is issued. Card, which has not been personalized with names of cardholder, may be used by Client or third parties, to whom Client provides or makes available the Card for which Client is fully responsible. The Card is always associated with Wallet of Client, who has ordered the Card, and provides access to e-money in the Wallet, unless otherwise agreed with Client in separate Agreement. Client understands that in case of not enough balance in Wallet or in case of enabling the option for change of order for debiting first of linked Funding instrument, the payment orders via the Cards will make possible the debiting of Client’s linked Funding instrument. To minimize the risk from losses and unauthorized transactions Client must set limits on Cards, as the Service allows.
7.5.4. Requests for blocking and unblocking of Cards may be made by the Client of Wallet, to which the Card is associated or for security reasons by the cardholder of Card, personalized with names of the cardholder.
7.6. Reversal of unauthorized transaction and correction of incorrect payment orders:
7.6.1. In the event of unauthorized transaction or incorrect payment order, the payment transaction is deemed to be correctly executed by Issuer in accordance to the Payment service directive and applicable legislation. Client, or a person explicitly authorized by Client, may submit a Request for reversal of unauthorized transaction or correction of incorrect order to Issuer via “Contact us”, without undue delay and within 30 days after Client has known for the transaction and in case Client is a Consumer - no later than thirteen (13) months after the debit date. This term shall not release Client from Client obligation to notify Issuer immediately and without delay in case of loss, theft, misappropriation or unauthorized use of Identifying Credentials and/or Card/s and to take all preventive and security measures as allowed by the Service or Issuer to limit the risks and damages. Client who is not a Consumer cannot claim that a transaction is not authorized, because of lack of Client consent for the transaction.
7.6.2. Issuer will assist the Client to a reasonable extent for reversing the unauthorized transaction or incorrect payment order as required by PSD and applicable law.
7.6.3 In case of unauthorized transaction Issuer shall conduct a procedure for proving authentic and correct execution of payment transaction and if this procedure is completed in favor of Client, Issuer shall reverse the operation and return the amount to Client iCARD Wallet (e-money account), less the applicable fee in the Tariff, within the deadline provided in the law.
7.6.4. Client agrees that Issuer may not be always able to reverse the amount of unauthorized transaction or incorrect payment order, in cases, where the deadlines for chargeback or reversal procedures before the Card Organizations have expired or in other cases according to the rules of the respective Card Organization, in which cases Issuer shall not owe Reversal or compensation to Client.
7.6.5. When Client receives a payment, Client is liable to Issuer for the full amount of the payment plus any Fees if the payment is later invalidated for any reason. In addition to any other liability, if there is a Reversal, or if Client loses a Chargeback or Claim, Client will owe to Issuer an amount equal to the Reversal, Chargeback or Claim and applicable fee as per the Tariff and other charges related to the Reversal, Chargeback or Claim. Issuer may debit recipient Wallet to recover any amounts and fees, due by Client in connection to Reversal, or Chargeback or Claim or Reserve, immediately and without prior notice.
7.7. Other rules for use of the Service. Reversal and refund of sums.
7.7.1 Without prejudice to the above, Client agrees and acknowledges that the reporting and payment of any applicable taxes arising from use of the Service and which are by law pending on Client, is Client’s exclusive responsibility and liability. Client hereby agrees to comply with any and all applicable tax laws.
7.7.2 Client agrees not to access (or attempt to access) any of the Service by any means other than through the User interface of the Service and Card that are provided by Issuer for the Service, unless Client have been specifically allowed to do so in a separate agreement with Issuer. Client acknowledges that this restriction will apply to use of the Service by any automated means.
7.7.3 Client agrees that Client will not engage in any activity that interferes with or disrupts the Service (or the servers and networks which are connected to the Service).
7.7.4 Client agrees that Client will not reproduce, duplicate, copy, sell, trade or resell the Service for any purpose.
7.7.5 Client agrees that Client is fully responsible for (and that ISSUER has no responsibility to Client or to any third party for) any breach of Client obligations under the Agreement and for the consequences (including any loss or damage which ISSUER may suffer) of any such breach.
7.7.6 Issuer may at Issuer discretion block the possibility for specific types of payment transactions in principle or in countries or in some cases, in order to comply with risk and compliance requirements. Issuer may, at its reasonable discretion (for example, for fraud, risk and compliance reasons) impose limits on the amount of money Client can withdraw, transfer, receive or fund for a certain period of time or for the whole period of use of Service.
7.7.7 Client acknowledge and agree that: (a) The sales of Goods and Services are transactions between the Merchant and Client and not with Issuer, or any Branches, Agents or affiliates of Issuer, unless Issuer is expressly designated as a Seller (Merchant) in the transaction (for example, purchase of other prepaid cards of Issuer, such as GIFTCARD or other). Issuer is not liable for the performance of obligation of Merchants.
7.7.8. Client agrees that in case a payment transaction is not approved for some reason or Merchant wishes to refund full or partial amount, than the following rules shall apply:
(i) Reversal or refund of full amount of transaction – the amount of the transaction is refunded in the original type of currency; or (ii) Partial reversal or refund of amount of transaction – the amount subject to reversal or refund is refunded in the currency of the transaction; or
(iii) If payment has been made with iCARD Prepaid Card via debiting of linked Funding Instrument - the amount subject to reversal or refund is refunded in the currency of iCARD Prepaid Card; or
(iv) If payment has been made with e-money via debiting of linked Funding Instrument - the amount subject to reversal or refund is refunded to Funding instrument if possible, or if not possible is refunded in Client’s Wallet in the currency of the transaction.
7.8. Non-payment services
7.8.1. Issuer provides to Client non-payment services, such as inquiries about the Balance of the e-money, configuration of security settings, transaction alerts, transaction history, and other available on the User Interface of the Service. Issuer may improve, apply innovation, enhance, or change the non-payment services without prior notice to Client.
7.8.2. Client will be able to view Client transactions free of charge in its Wallet as well as transaction history, which is updated regularly, and Client agrees not to receive paper statements. Issuer sends to Client registered e-mail on a monthly basis a link to the Client’s Wallet to check Client’s balance and/or transaction history. Upon Client request Issuer may, at Issuer discretion, provide Client with additional statements, paper or otherwise, of the transactions but in this case Issuer may charge Client a reasonable administration fee. Issuer may charge Client a fee for other information services provide by Issuer if Client is not a consumer and the fee is specified in the Tariff.
7.8.3 In case there are other fees charged for non-payment services, they shall be specified in the Tariff.
8. Client Identifying Credentials for use of Service and Security measures and Requirements
8.1 Client agrees to use any Identifying Credentials associated with Client’s Wallet and/or Card (“Identifying Credentials”) only in accordance with this Agreement.
8.2 Issuer has provided to Client all necessary tools for preserving the security of the Identifying Credentials, Wallet or Card and Client is able alone via the User Interface of the Service (personal web page of Client or via iCARD Mobile for smart devices or receipt of SMS for transactions) to control the security and avoid unauthorized access to its Wallet, e-money and Card. Furthermore, Client is able and is obliged to contact immediately and at any time the Issuer Contact center and inform Issuer on stolen, lost or unauthorized access to Identifying Credentials, Wallet or Card. Therefore, Client is fully responsible for maintaining the confidentiality of Identifying Credentials and taking all reasonable steps to secure and avoid loss, theft or unauthorized access to the Client’s Wallet, e-money and Card.
8.2.1. Client must not provide Card or payment instrument to a third party, unless this party is authorized cardholder, even where the Card or payment instrument is PIN based, because even in this case Card or payment instrument can be comprised and result in unauthorized transactions, for which Client is fully liable.
8.2.2. Client must not disclose the Identifying credentials for access to a Business Wallet, because they are identical with the Identifying credentials for access to Client personal Wallet and there is a risk of unauthorized transactions from iCARD Business Wallet and from the personal Wallet of Client. The breach of this obligation is breach of Client’s obligation for protection of personalized security characteristics of payment instrument and Client and person, who has breached this obligation, will be fully liable for unauthorized payment or non-payment transactions from their wallets.
8.3 If Client is using the Service in a business capacity or as a Client of iCARD Business Wallet, Client agrees that:
(i) all employees, agents, representatives and others having access to Client Identifying Credentials or personalized security characteristics of payment instrument/s of Client, will be considered as properly authorized to use Client’s Wallet and/or make any payment orders via all payment instruments and perform all actions to which Client is entitled and will legally bind the Client, business, partnership or other legal entity concerned;
(ii) Client or a person explicitly authorized by Client has the right to authorize users of iCARD Business Wallet of Client and/or payment instruments related to it, whose rights for ordering payment transactions, reversal, receiving of information, authorizing or removal of other users and other rights are defined by Issuer on the website of the Service or in the User Interface for the Service and can be additionally individualized by Client or a person explicitly authorized by Client according to the functionalities of the Service.
(iii) Each payment order from authorized user will be considered as approved by Client and irrevocable according to the rules on Receipt of Payment Order and Irrevocability above. In case Client wishes to limit rights for access to Wallet of certain authorized users, the legal representative of Client or a person explicitly authorized by Client according to Issuer requirements, can perform this operation via the User Interface of iCARD Business Wallet or send to Issuer a request dully signed by Client via the Client’s registered e-mail.
8.4. Client acknowledges and agrees that all Cards associated with the Wallet are providing access to the e-money in the Client’s Wallet and Client shall be liable for all transactions and charges arising of the use of Cards, associated with the Wallet.
8.5 Client agrees to notify Issuer via Contact Center of Issuer or via "Contact us" on Issuer website for the Service, immediately and without delay in case of loss, theft, misappropriation or unauthorized use of Identifying Credentials and/or Cards and to take all preventive and security measures as allowed by the Service or Issuer to limit the risks of unauthorized transactions and damages.
Client also agree to notify Issuer without undue delay and in the same manner of any other breach of security regarding the Service of which Client have knowledge.
8.6 If Client believes that its Wallet or Card has been used in an unauthorized manner, Client has to contact Issuer without undue delay. Client should read on Issuer website for more information on how Issuer protects Client from fraud.
8.7 Issuer may suspend the use of Client Identifying Credentials, including block the Card, or Wallet where it suspects that their security may have been compromised or that unauthorized or fraudulent use has taken place.
8.8 Issuer will inform Client in advance or, if that is not possible, immediately after, of the suspension of the use of Client Identifying Credentials or Card, or Wallet , specifying the reasons for the suspension, unless such provision of information would compromise reasonable security measures or be otherwise unlawful. ISSUER will reactivate Client Identifying Credentials or Card, or Wallet , or provide Client with new active Identifying Credentials or Card, or Wallet , as soon as practicable after the reasons for the suspension cease to exist and providing Client meets Client obligations to Issuer.
8.9 More information on security measures, which Client must and is able to take, is provided on web page of Issuer for the Service.
9. Privacy and Client personal information
9.2 Client agree to the use of Client data in accordance with Issuer’s Privacy Policies.
9.3 Client Identity Verification; Anti-Money-Laundering Requirements:
(a) Client acknowledges that Issuer is offering and continues to offer the Services to Client on the condition that Client satisfies all due diligence and identity checks that Issuer may conduct, and that Client complies with Issuer, Card Organization, and regulatory anti-money-laundering requirements. Identity checks may include credit checks, anti-money- laundering checks required by relevant legislation, checks required by card associations and checks to meet relevant regulatory requirements. Client will provide all assistance requested by Issuer in carrying out such checks and determining compliance with anti-money-laundering requirements, including the provision of such additional registration or identity verification information as Issuer may require at any time.
(b) Client consents to Issuer sharing with and obtaining from third parties, both inside and outside the European Economic Area, and to the extent permitted by law, information held about Client, including personal data as defined under relevant data protection legislation, for the purpose of Issuer conducting applicable due diligence and identity checks, and Client agrees that such third parties may retain the information shared in this way.
(c) Non-satisfaction of the conditions in this clause, including that Client provides information requested by Issuer to conduct identity verification or determine compliance with anti-money-laundering requirements, may result in immediate suspension of the Client's use of the Service and/or also termination of this Agreement without prior notice to Client.
10. Permissible Transactions and iCARD Acceptance Policy
10.1 Client may only use the Service in bona fide and in accordance with the functionalities of the Service as defined in the User Interface of the Service and the use of Card as defined by the Card Organization and in compliance with this Agreement.
10.2. It is strictly forbidden to use the Service in violation of the Agreement, or for any illegal purposes including but not limited fraud, money laundering, tax evasion or other illegal activities. In particular, Client shall under no circumstances use the Service for activities or execution of transactions, which without limitation involve or may involve any of the following:
(a) Breach of this Agreement (including, without limitation, providing false identifying data, such as false names, e-mail address, multiple mobile numbers or other data, with the aim or resulting in opening of multiple iCARD Wallets for a single user or avoiding the limits imposed by Issuer in another way); or
(b) Breach or risk of breach by Client or by Issuer of any law, statute, contract, or regulation applicable (for example, those governing payment services including anti-money laundering or terrorist financing, or similar regulatory requirements, including where Issuer cannot verify the identity or other data about Client according to regulatory or Internal requirements of Issuer, consumer protections, unfair competition, anti-discrimination, gambling, false advertising, illegal sale or purchase or exchange of any Goods or Services according to all applicable laws); or
(c) Abuse by him of the reversal or chargeback process provided by Client’s bank or credit card company; or
(d) Use of the Service in a manner that results in or may result in complaints, disputes, claims, reversals, chargebacks, fees, fines, penalties and other liability to Issuer, Branch or Agent of Issuer; or
(e) Initiation of transactions that may be considered to be cash advances or assisting in cash advances from Merchants or to facilitate the purchase of cash equivalents (travelers' cheques or money orders, etc.); or
(f) Infringement of Issuer or any third party's copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy; or
(g) Use the Service in connection with any other underlying illegal transaction;
(h) Use of the Service for any sale of purchase of goods and/or services, which are not acceptable to Issuer as determined on Issuer website for the Service or instructed in writing by Issuer.
10.3 Non-satisfaction of the conditions in this clause 10.2, may result in immediate suspension of the Client's use of the Service, blocking of funds in the Wallet, right of Issuer to withhold funds in the Wallet for satisfaction of damages incurred by Issuer, because of Client breach, claim by Issuer against Client, initiation of procedures before competent regulatory bodies or Card Organizations, and also termination of this Agreement without prior notice to Client.
11. Service Fees; Currency Conversion Fees
11.1 Issuer will charge Client fees to use the Service, as specified in the Tariff. Tariff may be changed by Issuer unilaterally with 2-month notice to Client. Updates in Tariff will be indicated on the Website, and the Client will be duly notified in accordance to the Agreement. Transfers of e-money within or outside EEA in all currencies, which are not currencies of states members of EEA, as well as transfers of e-money outside EEA in all currencies, which are currencies of states members of EEA, are received by end Payee, reduced with bank fees, charged by Bank of Issuer and/or bank of Payee. In addition, Issuer may charge fee for transfers, if it is stated in the Tariff.
11.2. Currency conversion: If transaction involves a currency conversion, it will be completed at a foreign exchange rate determined by Issuer plus a foreign exchange fee expressed as a certain percentage above the exchange rate. Foreign exchange rate is adjusted regularly based on market conditions (the wholesale exchange rate at which Issuer obtains foreign currency). The exchange rate and foreign exchange fee may be applied immediately and without notice to Client. The foreign exchange fee is retained by Issuer and will apply whenever Issuer performs a currency conversion. The “Currency Converter” tool can be accessed through the User Interface of the Service and used to see what foreign exchange rates plus foreign exchange fee apply for a certain transaction, involving currency exchange.
11.3. Where a currency conversion is offered by Issuer at the point of sale Client will be shown the foreign exchange rate that will be applied to the transaction before authorizing the payment transaction on the website of Issuer for the Service. By proceeding with authorization of the payment transaction Client is agreeing to the currency conversion on the basis of the foreign exchange rate. Where a currency conversion is offered at the point of sale by the Merchant, not by Issuer, Client chooses to authorize the payment transaction on the basis of the Merchant's exchange rate and charges, Issuer has no liability to Client for that currency conversion. Where Client payment for e-money is funded by a Debit or Credit Card and involves a currency conversion, by entering into this Agreement Client consents to and authorizes Issuer to convert the currency in place of Client Credit or Debit card issuer.
11.4. In case where the balance in Client’s Wallet in certain currency is not enough to cover the amount of a certain transaction or obligation of Client, Client agrees and authorizes the Issuer to debit the necessary amount from available balance in Client’s Wallet held in other currency, applying the foreign exchange rate of Issuer for the date of the conversion, notified on Issuer website for the Service. The priority order for conversion of currencies in Client’s Wallet is given after System’s default order or may be set by Client in which case Issuer is obliged to keep the manually determined order.
11.5. In case Client receives e-money in Currency, supported by Issuer, different from the currency of Client’s Wallet, Client agrees that Issuer shall issue e-money in the received currency, where the total balance of e-money held by Client shall be shown in the Principle currency of Client’s Wallet at the foreign exchange rate, applied by Issuer at the date of check of balance.
11.6. Payment transactions with Card, made in a currency other than the currency of the issued Card, will be converted by Issuer applying foreign exchange fee expressed as a certain percentage above the effective foreign exchange rate of the respective Card Organization for day in which the payment transaction has been executed, cleared or settled with the Card Organization. Foreign exchange fee is shown in the tariff and retained by Issuer. All fees shall be charged to Client in the currency of the issued Card.
11.7. Client acknowledges and agrees that Issuer is authorized to satisfy immediately as they become due any obligations of Client towards Issuer under this Agreement or other, by debiting or withdrawing directly funds from the Client’s Wallet or any outstanding sums owed by Issuer to Client, including by debiting or charging the Funding instrument of Client. The Issuer will inform Client on the ground, amount and value date of such withdrawals.
11.8. Client agrees and understands that the financial institution or Operator that issues Client Funding instrument may charge Client a fee and/or currency conversion fee in connection with the debiting or charging of the Funding instrument resulting from the Funding Transaction. Client should consult the Terms and Conditions governing Client Funding instrument for more information about any such fees. Issuer is not liable for taxes or costs imposed by third party.
12. Redemption of e-money
12.1. Client is entitled to request personally by sending an e-mail from “Contact Us” on the website of Issuer for the Service to redeem (buy back) part or all available balance of e-money of Client, less all applicable fees. The request for redemption of e-money has to be signed by legal representative or a person explicitly authorized by the Client of iCARD Business Wallet. Subject to the successful completion of applicable anti-money-laundering, fraud and other illegal activity checks of every request for redemption by Issuer, Issuer will redeem the amount of the outstanding e-money, less the applicable fees, such as redemption fee, determined in Tariff or currency conversion fees if applicable and possible bank transfer fees for the bank transfer. Issuer shall initiate transfer of the remaining amount to Client personal bank account, which has to be in the same currency as the currency in its Wallet or in one of the currencies, supported by Issuer, as notified by Issuer on the website of Issuer for the Service.
12.2. Issuer is not liable for incorrect transactions based on false or incomplete information. Issuer shall not be liable for delays in the redemption of e-money where the delay is caused by any third party involved in the transfer transaction of redeemed money.
12.3. Client cannot request and is not entitled to e-money redemption if there is no balance available in its Wallet for whatsoever reason or balance is not enough to cover the fees for redemption.
12.4 If the outstanding amount of e-money cannot be redeemed in accordance with clause 12.1, Client has six (6) years following termination of the Agreement to request the redemption of the outstanding amount in full and in compliance with this Agreement, after which time any e-money left in the Client’s Wallet becomes the property of Issuer. For the purposes of this clause 12.4, the Agreement terminates when Client is no longer able to use Client e-money for the purpose of making Funding and/or Payment transactions or use of the Service. Any redemption made, pursuant to this clause 12.4, is subject to the successful completion of applicable anti-money-laundering, fraud and other illegal activity checks, and Client agrees to provide the information requested by Issuer in order for Issuer to complete these checks. Nothing in this clause limits Issuer's right to terminate the Agreement, pursuant to the other clauses of this Agreement or the law.
13. Client liability
13.1. Client who has acted as a Consumer shall be liable for all losses incurred in respect of unauthorized transactions, as a result of use of lost or stolen payment instrument, if Client has not managed to preserve the security of the payment instrument, up to a maximum of 150 EUR. Client who has not acted as a Consumer shall be liable without limitation for all losses incurred in respect of unauthorized or incorrect transactions, as a result of use of lost or stolen payment instrument or incorrect payment orders.
13.2. However, Client shall be fully liable for all losses incurred in respect of unauthorized transactions and/or all damages, notwithstanding the amount of the losses or damages, if Client has acted fraudulently or has, with intent or gross negligence, failed to comply with the Agreement or law, including Client’s obligations to preserve the security of Client Identifying Credentials, providing access to the Wallet, e-money or Card or other.
13.3. Client shall be entitled to redress losses (excluding fees or interest in case of Clients who are not Consumers) incurred by Client in respect of unauthorized or incorrect transactions made after Client has informed Issuer for the unauthorized or incorrect transaction and Issuer has been able to block the Wallet and/or Card or other payment instrument without undue delay in the day when the Client’s Wallet was debited or within 7 (seven) days afterwards, and in case where Client is Consumer, no later than thirteen (13) months after the debit date. Issuer will, on Client request, make efforts to trace the transaction and notify Client of the outcome. Where Client is entitled to redress, Issuer will refund the amount of the unauthorized transactions, less applicable fees as per Tariff, by crediting Client’s Wallet.
13.4. Client agrees to indemnify, defend and hold harmless Issuer, from and against any losses or negative balance on Wallet or Cards, resulting from any and all actions, causes of actions, claims, demands, liabilities, judgments, damages or expenses (collectively, "Claim" or "Claims") which Issuer may at any time during the term of this Agreement or within 5 (five) years after its termination incur, sustain or become subject as a result of any Claim and: (a) connected to the Client’s or his employees, agents or sub-contractors, or 3rd parties using the Wallet or Card breach of any provision, warranty or representation in this Agreement, or regulations of Card Organizations or other Organizations; or (b) arising out of the Client’s or his employees, agents or sub-contractors, or end customers or 3rd parties using the Wallet or Card willful acts or omissions, gross negligence, or other similar wrongdoings, or fraud, charge back, offline transactions, currency conversions, pre-authorization, manual operations, stand-in process, system malfunction, or other unlawful use of the Card and/or e-money; or (c) arising from Client’s or his employees, agents or sub-contractors, or end customers or 3rd parties using the Wallet or Card failure to comply with any law or regulation including but not limited to AML, data protection laws, cardholder data information and other rules and regulations. Client agrees that Issuer is authorized to satisfy immediately as they become due any obligations of Client by debiting or withdrawing directly funds from the Client’s Wallet , or from Security provided by Client (if Security is provided), or any outstanding sums owed by Issuer to Client, including by debiting or charging the Funding instrument of Client. Issuer will inform Client on the ground, amount and value date of such withdrawals.
13.5. In case of delay for payment of amounts due to Issuer Client shall owe a penalty for delay in the amount of the statutory interest for delay for each day of delay from date of delay until payment of the full amount.
14. Termination of Agreement
14.1 The Agreement will continue to apply until terminated either by Client or Issuer, as set out below.
14.2 If Client wants to terminate legal Agreement with Issuer, Client may do so immediately and without charge for termination at any time by:
(a) Notifying ISSUER, in accordance with clauses for communication by Client to Issuer below; and
(b) Closing Client’s Wallet for the Service, including withdrawing or redeeming the available balance of e-money; and
(c) Return of Card to Issuer.
14.3. In case of any risk of Damages for Issuer, Issuer may hold the Client’s funds for up to 365 Days after Termination of Agreement to protect Issuer against the risk for Issuer of reversals, chargebacks, claims, fees, fines, penalties and other similar liabilities arising from Client‘s use of the Service. Client will remain liable for all obligations arising in relation to Wallet and/or payment instruments, within 5 (five) years after Termination of Agreement and/or closing of Wallet. This clause shall not be applicable for Clients who are consumers.
14.4 Issuer may, at any time, terminate the Agreement with Client without notice if:
(a) Client has breached any material provision of the Agreement or law or Regulations of Card Organizations or other Organizations (or have acted in a manner which clearly shows that Client does not intend to or is unable to comply with the material provisions of the Agreement); or
(b) Issuer is required to do so by law or Regulations of Card Organizations or other Organizations (for example, where the provision of the Service to Client becomes unlawful).
14.5 Unless a shorter period is provided in this Agreement, as permitted by law, Issuer may, at any time, terminate the Agreement by giving Client two (2) months' notice.
14.6 When this Agreement comes to an end, all of the legal rights, obligations and liabilities that Client and Issuer have benefited from, or which have accrued over time whilst the Agreement has been in force, or which are expressed to continue indefinitely, will be unaffected by this cessation, and the provisions of clause 19.6 will continue to apply to such rights, obligations and liabilities indefinitely.
15. Limitation of Warranties
15.1 Issuer, its Branches or Agents make no express warranties or representations with respect to the provision of the Service. In particular, Issuer, its Branches or Agents do not warrant to Client that:
(a) Client use of the Service will meet Client requirements or expectations;
(b) Client use of the Service will be uninterrupted, timely, secure or free from error; and
(c) Any information obtained by Client as a result of use of the Service will be accurate or reliable.
15.2 No conditions, warranties or other terms (including any implied terms as to satisfactory quality, fitness for purpose or conformance with description) apply to the Service, except to the extent that they are expressly set out in the Agreement.
15.3 Nothing in the Agreement will affect those mandatory statutory rights to which Client is entitled as a consumer and that Client cannot contractually agree to alter or waive.
16. Limitation of Liability
16.1 Nothing in the Agreement will exclude or limit Issuer’s liability for losses which may not be lawfully excluded or limited by this Agreement or by applicable law.
16.2 Subject to Clause 16.1 above, Issuer, its Branches or Agents or Licensees, will not be liable to Client for:
(a) Any indirect or consequential losses which may be incurred by Client. This will include any loss of profit (whether incurred directly or indirectly), any loss of goodwill or business reputation, or any loss of data suffered by Client;
(b) Any loss or damage which may be incurred by Client as a result of:
(i) Any reliance placed by Client on the completeness, accuracy or existence of any advertising, or as a result of any relationship or transaction between Client and any advertiser whose advertising appears on the Service;
(ii) Any change which Issuer may make to the Service or any permanent or temporary cessation in the provision of the Service (or any features within the Service);
(iii) Malfunction of the Service;
(iv) The deletion of, corruption of or failure to store any communications data maintained or transmitted by or through Client use of the Service;
(v) Client failure to provide Issuer with accurate account information; and
(vi) Any fraudulent use of the Service by Client or third parties;
(c) Any compensation for fees or interest paid or levied on Clients who are not Consumers, as a result of non-performance or incorrect performance of a payment transaction.
17. Changes to the Agreement
17.1 Client agrees that Issuer may make changes to the Agreement from time to time. When these changes do not affect in a negative for Client way the preliminary information, which Issuer is obliged by law to present to Client prior to entry into Agreement, Issuer may introduce the changes with shorter notice. When these changes do affect in a negative for Client way the preliminary information, which Issuer is obliged to present to Client prior to entry into Agreement, such as for example changes in Tariff, changes in the Payment Services Provider, changes in the applicable languages, redemption of e-money, or other required by law, Issuer shall give Client two (2) months' notice of such changes by email sent to Client email address and/or by notifying Client on the User Interface of the Service or website of the Service before their proposed date of entry into force.
17.2 Client understands and agrees that Client will be deemed to have accepted the changes unless Client notifies Issuer to the contrary by notice, as provided in clause 18.5, prior to the date on which the changes are to come into effect, in which case the Agreement will terminate without charge for termination immediately before the effective date of the changes.
17.3 Nothing in Section 17 will limit:
(a) Issuer’s right to update and revise its policies from time to time or to add new features from time to time without prior notice, which may be accepted by Client by using the new feature. Such revisions may take place using a method chosen at Issuer's discretion, and such method may include email communication or publication on a Issuer website for the Service; and
(b) The parties' right to vary the terms of this Section 17, where the variation is not prohibited by law and both parties agree to it.
18. Communications and Notices
18.1 All information will be made available or provided to Client in an easily accessible manner, in easily understandable language, in a clear and comprehensible form and in English.
18.2 Statements, notices and other communications to Client may be made by mail, email, postings on the Issuer’s website for the Service or other reasonable means.
18.3 Issuer may communicate with Client regarding the Service by means of electronic communications, including (a) sending email to Client email address or (b) posting notices or communications on Issuer’s website for the Service. Client agrees that Issuer may send electronic communications to Client in relation to any matter relating to Client use of the Service, including the Agreement (and revisions or amendments to the Agreement), notices or disclosures regarding the Service and payment authorizations. Particular communications will be handled as follows:
(i) The Agreement will be provided to Client at the sign-up in a printable form;
(ii) Changes to this Agreement after the sign-up will be provided in an email sent to Client email address and/or on Issuer’s website for the Service or User Interface of the Service;
(iii) Except where this Agreement provides otherwise, a notice to terminate this Agreement will be provided in an email sent to Client email address;
(iv) Information about balance or transactions or statements will be made available in Client’s Wallet accessible online via Internet or in the User Interface of the Service in transaction history;
(v) Information about a suspension of the Service will be made available in Client’s Wallet accessible online via Internet or in the User Interface of the Service; and
(vi) Information about the rejection of transactions with e-money will be made available in Client’s Wallet accessible online via Internet or in the User Interface of the Service in transaction history.
18.4 Client should maintain copies of electronic communications by printing a paper copy or saving an electronic copy, and information that is provided to Client in an electronic format is provided under the assumption that Client will be able to print or save such information.
18.5 Any notice sent to Issuer under this Agreement should be sent by registered post to Issuer’s address of registered office, stated above in the Agreement, and marked for the attention of "Issuer Wallet Team", except that:
(i) Notification of loss, theft, unauthorized use or security breach must be made immediately to the Contact Center of Issuer, on numbers notified to Client by Issuer or has to be sent, as soon as possible, through "Contact us" on Issuer’s website for the Service;
(ii) Notification of application for Card, purchase of e-money in a General currency other than the currency of Wallet, redemption of e-money and/or termination of Wallet and this Agreement should be sent through "Contact us" on Issuer’s website for the Service.
(iii) Notification by Client that Client does not agree to the amendment of the Agreement and wishes to terminate the Agreement prior to entry into force of the amendments should be sent through "Contact us" on Issuer’s website for the Service from Client physical person or from the legal representative or a person explicitly authorized by the Client of iCARD Business Wallet.
19. General legal terms
19.1 The headings to the clauses of this Agreement are for ease of reference only and will not affect the interpretation or construction of the Agreement.
19.2 Reference to any statute or statutory provision includes a reference to that statute or statutory provision, as from time to time amended, extended or reenacted.
19.3 Unless otherwise expressly stated in the Agreement or Tariff, all amounts stated in the Agreement are denominated in EURO (EUR).
19.5 Client agrees that if Issuer does not exercise or enforce any legal right or remedy which is contained in the Agreement (or which Issuer has the benefit of under any applicable law), this will not constitute a waiver of Issuer’s rights and that those rights or remedies will still be available to Issuer.
19.6 If any court of law having the jurisdiction to decide on a matter relating to the Agreement rules that any provision of the Agreement is invalid in respect of a certain Client or Client, who is a Consumer, then that provision will be removed from the Agreement with this Client without affecting the rest of the Agreement. The remaining provisions of the Agreement will continue to be valid and enforceable.
19.7 Client may not assign Client rights under the Agreement or otherwise sub-contract or transfer any of Client rights or obligations under the Agreement without the prior written consent of Issuer.
19.8. Issuer may transfer its rights and obligations under the Agreement to third party, which is licensed as Electronic money institution giving to Client at least two-month notice previous the date of the transfer per e-mail. In case of such transfer and if Client disagrees with it Issuer shall provide the Client the possibility to terminate the Agreement free of taxes, penalties or other. .
19.9. Any claim or dispute arising under the Agreement or as a result of the provision of the Service by Issuer should, in the first instance, be referred to Issuer through "Contact us" in Issuer’s website for the Service. Client has to submit Complains personally, in writing and clearly stating the reasons for complaint. Issuer shall try to resolve the complaint, within reasonable term upon receipt of clear and correctly submitted complaint. Client may refer any complaints not resolved to Client satisfaction for examination by the Conciliation Commission for Payment Disputes on the following address: Bulgaria, Sofia, 4A Slaveykov Square, fl. 3, which is entitled to offer out-of-court solution, which have to be accepted by both parties.
19.10. Both Parties agree that the authentic and/or correct execution of transactions and operations shall be proven with print-outs or statements printed or generated from the Issuer’s IT systems, such as the User Interface of the Service, or Internet website of Issuer for the Service, Card System of Issuer, Register of E-money or other software systems used by Issuer or Branches, Agents or sub-contractors of Issuer in the capacity of regulated E-Money Institution, or Agent or subcontractor of such.
19.11. “iCARD”, “iCARD Wallet”, “iCARD Mobile” or other iCARD mobile app, www.icard.com and all related URLs, logos, marks or designs, software, interfaces or other related to the Services, including logos and marks of Card Organizations are protected by copyright, trademark registration or Patent or other intellectual property right of Issuer or third party Licensor. Client may not use, copy, imitate, modify, alter or amend, sell, distribute or provide them without Issuer’s prior written explicit consent to do so in a separate Agreement.
19.12. The Agreement and Client relationship with Issuer under the Agreement will be governed by Bulgarian law.
(i) Jurisdiction of competent Court between parties when Client is not a consumer: Both Parties agree to submit to the exclusive jurisdiction of the competent Bulgarian courts in Sofia to resolve any dispute arising between them. Nevertheless the Client agrees that Issuer will still be allowed, upon Issuer’s discretion, to bring a claim or apply for injunctive remedies (or an equivalent type of urgent legal relief) in any jurisdiction.
(ii) Jurisdiction of competent Court between parties when Client has the statute of consumer: Claims against respondents with the statute of consumer shall be submitted to the competent Court after Client’s address.