Payloo Payment Card Terms and Conditions

Updated: April 6, 2025

These Terms and Conditions are entered into by and between you and Payloo Ltd, a company registered in Armenia with its registered address at 16 Yekmalyan Street, Yerevan 0002, Armenia. By ordering a Payloo Payment Card, you agree to be bound by these Terms and Conditions.

Contact: [email protected]

Definitions and Construction

• Account – Your Payloo account with Currency Wallets.
• Applicable Law – Any applicable legal requirement in force.
• Appointed Processor – Third party collecting KYC Information.
• ATM – Automated Teller Machine for card use.
• Automated Currency Transfer – Not currently supported.
• Card – Physical Payloo payment card.
• Card Issuer – Payloo Ltd.
• Card Replacement Fee – Fee for replacement card.
• Conversion Rate – Exchange rate defined by Payloo.
• Currency Wallet – Account part holding specific currency.
• Customer Support – Contact via [email protected].
• Default Wallet – Wallet linked to your card.
• Fees Section – List of applicable fees.
• Force Majeure Event – Uncontrollable external event.
• KYC – Know-your-client.
• KYC Information – Documents and data for verification.
• Negative Balance – When Account balance falls below zero.
• Payment Processor – Third party for currency funding.
• PIN – Personal identification number.
• Prohibited Articles – List of banned items.
• Prohibited Countries – Sanctioned countries or regions.
• Supported Currency – Currencies supported in Payloo Wallets.
• Territory – Armenia.
• Unsupported Currency – Not supported in Payloo Wallets.
• Usable Balance – Available balance after limits and fees.
• Verification – Account verification process.
• Website – www.payloo.com
• We/Us/Our – Payloo Ltd.
• You/Your – The Account holder.

Introduction

Capitalized terms are defined in Payloo’s General Terms of Service. These Terms should be read alongside:

• Any other terms between you and Payloo
• Payloo’s Privacy Policy

Conditions

To sign up for a Payloo Card, you must:

• Be at least 18 years old
• Complete Verification
• Have authority to enter the agreement
• Not impersonate anyone or hide identity

Signing Up, KYC, and Personal Data

• You must provide KYC Information
• Payloo and its processors may verify your data
• Failure to provide valid information may result in refusal

Change of Personal Details

You must notify Payloo of any changes to your personal details.

Consents for Collection, Use, and Disclosure

You consent to data collection and sharing as per these Terms.

Using Your Card

• The Card is prepaid and not a credit card
• Use is limited to your Usable Balance
• Funds are held in segregated accounts
• No insurance coverage for funds

Loading Your Account

You may load funds via the Payloo Dashboard in Supported Currencies.

Your PIN

Set and keep your PIN secure via the Payloo Dashboard.

Protecting Your Card, PIN, and Password

• Do not share your PIN/password
• Contact support if compromised

Moving Overseas

If your residence becomes unsupported, you may only use remaining balance or request a refund.

Contacting Customer Support

Email: [email protected]

Multi-Currency Wallets

Funds in Unsupported Currencies will be converted automatically by the Payment Processor.

Using Your Account

• Only you may use the Card
• Only usable outside Armenia for ATM

Fees and Charges

See Fees Section on website. Fees are deducted from your Wallet.

International ATM Withdrawal Fees

• Fees depend on currency
• ATM operators may charge extra

Managing Your Account

• Check balances via Dashboard
• Negative Balance must be repaid
• Manual fund transfers between Wallets allowed

Errors and Transaction Disputes

• Report errors within 2 weeks
• Refunds only after receiving merchant confirmation

Refunds and/or Reversals

• Refunds go to the relevant Currency Wallet
• No extra fees on currency conversion reversal

Limitations on Use

• Authorization may exceed bill temporarily
• No use for prohibited items or in prohibited countries

Transaction, Load Limits, and Fees Section

Limits and fees can be updated. Replacement Cards incur a fee.

Expiry, Closing, Termination, and Balance Return

• Card is valid until expiry
• Account can be closed before expiry
• We may terminate without notice

Unauthorised Transactions

Notify us immediately of lost or stolen Cards. You are liable only for transactions before reporting.

Indemnities and Limitations of Liability

• You indemnify Payloo for any losses from your misuse
• No warranty is given on services
• Max liability: AMD 500,000

General

• Invalid provisions do not affect the rest
• You may not assign rights
• Force Majeure applies
• Only Indemnitees have third-party rights
• We may update Terms with notice
• Armenian law applies to all disputes