RedotPay Card Terms & Conditions
Last Update: 5 July 2024
“Account” |
means the account established in respect of a RedotPay Card for the purpose of recording Card Transactions and other items; |
“Acceptable Tokens” |
means (i) in the case of a Custodian Wallet, such virtual assets which would be accepted by RFTL to be deposited into the Custodian Wallet, which include Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and USD Coin (USDC) and (ii) in case of a Self-custody Wallet, such virtual assets which would be accepted by RFTL to be locked in the Smart Contract Vault, which include USD Coin (USDC). Such list of Acceptable Tokens may be updated from time to time at the sole discretion of RFTL; |
“App” |
means the mobile application software owned and released by RFTL, 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; |
“Card Balances” |
shall have the meaning ascribed to the term in Clause 3.1(a)(ii); |
“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 RFTL, which enable the issuance of the RedotPay Card by RFTL through the CaaS Partner under the relevant Card Network; |
“Card Limits” |
shall have the meaning ascribed to the term in Clause 4.2; |
“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 RFTL 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 RFTL and (ii) is an actual issuer of the RedotPay Card; |
“Chargeback” |
means a dispute filed by RFTL that is sent through the relevant Card Network in accordance with the relevant Card Network Rules relating to a Card Transaction; |
“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 RFTL; |
“Custodian” |
means a third-party entity designated and appointed by RFTL 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 RFTL, the relevant CaaS Partner, the Custodian, the Smart Contract, the Card Network and/or otherwise in relation to the use of the Services, the RedotPay Card, the Custodian Wallet and/or the Smart Contract Vault; |
“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; |
“Locked Tokens” |
shall have the meaning ascribed to the term in Clause 2.4; |
“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; |
“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; |
“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 RFTL, 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); |
“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 RFTL and its affiliated companies 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 RFTL's sole discretion at the time of the Card Transaction; |
“Site” |
means the website https://www.redotpay.com/; |
“Smart Contract” |
means, if you are using a Self-custody Wallet in connection with a RedotPay Card, the programmable agreement between RFTL 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, the RedotPay Card and the Smart Contract Vault; |
“Smart Contract Vault” |
means, if you are using a Self-custody Wallet in connection with a RedotPay Card, 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; |
“Trade Marks” |
shall have the meaning ascribed to the term in Clause 17(a); |
“Transaction History” |
means the transaction history of your RedotPay Card and details of your Custodian Wallet and/or Smart Contract Vault (as applicable); |
“we/us/our” |
means RFTL and its affiliated companies; |
“you/your” |
means, jointly and severally, the individual(s) who is/are the user(s) of the RedotPay Card; |
“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 |
“Withdrawal Services” |
shall have the meaning ascribed to the term in Clause 15.1. |