Latest update: 07/10/2025

These terms and conditions form the Agreement between Pemo and you and shall be referred to as the “Agreement” or the “Card Terms and Conditions” and are governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia.

We reserve the right to amend this Agreement at any time, by adding, deleting, or changing provisions of this Agreement. All amendments will comply with the applicable notice requirements in the Kingdom of Saudi Arabia that are in effect at that time and the regulations of the Saudi Central Bank (SAMA).

Your Pemo Account and Card is issued by Global Digital Financial Solutions Company (Neoleap), a Saudi company registered with the commercial registration in Riyadh under no. 1010679441 and licensed with license number (13/1442) dated 10/12/2020 and SAMA Licences 1234556787 and shall provide You with the Card Services as mentioned in the present Card Terms and Conditions.

By requesting for issuance of and / or using the prepaid card (the “Card”), You confirm and agree that you understand, accept and shall comply with these Card Terms and Conditions, and you understand and agree that the issuance of the Card to you is subject to your identity being successfully identified by the Card Program Manager and/or us in accordance with the policy and procedures notified to you at the time of issuance of the Card.

‍Pemo facilitates a payment service when a Card User uses the Card to make a Transaction. A Card may only be used by the Card User for whom the Card was issued to. The Card is otherwise non-transferable, and you and the Card User are not permitted to allow any other person to use the Card, for example, by disclosing the PIN or allowing others to use the Card details to purchase goods via the internet. Your Card may be cancelled, repossessed, or revoked at any time without prior notice subject to applicable law or non-compliance of the Card Terms and Conditions.

The Agreement and all communications between us shall be in the English language, to the extent that this Agreement is translated into any other local language, the English version shall prevail in case of inconsistency.

Definitions and Interpretation

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

“Account” means the account maintained on the App which is used to hold the Available Funds and Cards connected to it.‍

“App” means the Pemo mobile application.

“ATM” means Automated Teller Machine.

“Available Funds” means at any given time any unspent funds loaded onto the Account which are available to pay for Transactions.

“Base Currency” refers to the default currency and any Transaction performed by you in a currency not available on the Card will be converted into the Base Currency. The Base Currency for your Account and Cards is Saudi Arabian Riyals (SAR).

“Card” means a virtual or physical payment card issued by us to you.

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

“Card Program Manager” means Global Digital Financial Solutions Company (Neoleap), a Saudi company registered with the commercial registration in Riyadh under no. 1010679441 and licensed with license number (13/1442) dated 10/12/2020 and SAMA Licences 1234556787, the party appointed by us to provide Card Services, support and such other services as determined by us.

“Card Services” means any services provided by us, our third-party service providers, Issuing Bank, or the Card Program Manager, in connection with the Card, including call center services.

“Card User” means any person representing you in the performance of the Agreement (including the use of the Card), or who makes any communication or gives any authorisation for a Transaction or other instructions to us on the your behalf, in respect of the Card or any of the services provided by us in the Agreement; for the avoidance of doubt the Card User is not acting as a consumer for the purpose of this Agreement.

“Charges” means amounts (including any Fees or Charges) payable by you arising from usage of the Card under these Card Terms and Conditions and are subject to change from time to time.

“Conversion Rate” means the rate of exchange applied to a transaction not in the base currency.

“Country” means the Kingdom of Saudi Arabia (KSA).

‍**“Currency”** means, anyone amount of Saudi Arabian Riyals (SAR), and any additional currency that we may make available in connection with the Card from time to time.

“E-commerce website” means internet websites where Merchants accept the Card for purchase of goods and services.

“Identification Checks” means checks carried out in order to obtain, verify and record information that identifies each person who purchases or loads funds onto a Card. We may ask you for your name, address, date of birth and other information, directly or indirectly that will allow us to reasonably identify you. We will ask to see your ID, and/or other identifying documents where required.

“Issuer, Issuing Bank” means Alrajhi Bank (“Bank”).

“KSA” means the Kingdom of Saudi Arabia.

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

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

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

“Personal Data” means any information that relates to an identified or identifiable natural person. This includes data that can directly or indirectly identify an individual through a combination of identifiers such as a name, identification number, location data, online identifier, or other factors specific to the physical, physiological, genetic, mental, economic, cultural, or social identity of that person.

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

‍“POS Terminal” means Point of sale or an electronic terminal available at Merchants whether local or international, capable of processing Transactions.

“Replacement Card” means a substitute Card which may be issued to you in the event of loss or theft of your Card.

“Restricted Use’ means countries and regions in which the use of the Card is currently prohibited. Countries and regions with restrictions include Iran, North Korea, Crimea, Sudan. Restricted use may also apply to certain Merchant Category Codes (MCCs). These restrictions may be amended.

“Shortfall” occurs in certain circumstances when the Available Funds and/or in the case of the Card a particular currency drops below zero (0).

“Transaction” means transactions made by using the Card, whether with or without use of the Card Number, PIN or signature, and regardless of whether any slip or other voucher was signed by you and includes any cash withdrawal made by you or the amount charged (or otherwise debited to the Card) by us or a Merchant for any goods, service or benefit (whether or not such service was utilized by you) obtained by the use of the Card, the Card Number or the PIN or in any other manner, including mail, telephone, facsimile or internet orders.

“We”, “Us”, “Our” means where applicable, the App provider, Card Program Manager ( Global Digital Financial Solutions Company (Neoleap)); Issuing Bank ( Alrajhi Bank); and any other partner or third party we may work with in respect of the issuance, management, or distribution of Cards.

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

“Business Day” means any day of the week, excluding Fridays, Saturdays and statutory holidays in the Kingdom of Saudi Arabia.

“You”, “you”, “your” means the corporate customer in whose name the Account is registered and who has accepted this Agreement.

1. The Card

1.1.  To apply for an Account and Card, you must be a company duly registered and operating in the Kingdom of Saudi Arabia with a valid Commercial Registration. The Card is a payment facilitation product, and we are therefore required by law to hold certain information about our customers. We use this information to administer the Card and to help Us identify you and the Card in the event that it is lost or stolen. We only keep this information as long as is necessary and for the purposes described.

1.2. When we perform KYC checks, Personal Information provided by you may be disclosed to a registered third-party agency who may keep a record of that information in accordance with Saudi Arabia's Personal Data Protection Law (PDPL) and its implementing regulations. By requesting a Card, you explicitly consent to your Personal being passed to such agencies for this purpose, subject to applicable data protection laws.

1.3. The approval of the Card and Account is subject to successful verification of your identity by the Issuing Bank.

1.4. Your Card will be issued to you on the basis that the required information that you have provided is accurate and valid. You agree to update us of any changes to your personal information when such change occurs, or as we may request you to confirm or update from time to time.

1.5. Where permitted, you may request additional Card Users. You authorise us to issue Cards and PINs to the additional Card Users and the you authorize each additional Card User to authorize Transactions on your behalf. The Card allows You or the Card User to access the Available Funds which You or the Card User have loaded on to the Account and can be used to buy goods and services in-person and online, and to withdraw cash at cash machines, including other supported functions.

1.6. Your Account is not a checking, savings, or other bank account and is not connected in any way to any other account you may have with the Issuing Bank.

1.7. Your Card is a commercial card.

1.8. There will be no interest earned on any Available Funds  in the Account.

1.9. Various limits may apply to the Card in respect of individual Transactions, as well as daily and weekly transacted amounts based on the limits you place on the Cards as well as the Card Program Limits.

1.10. The use of the Card for making any Transaction shall constitute an agreement by You to pay any and all fees, commission, and charges on such Transaction as prescribed from time to time. You confirm that you have read and agreed to the schedule of fees, commission and charges for usage of the Card for any Transaction.

1.11. As the applicant, you are responsible for all Cards issued to you under the Agreement and for any fees or charges that these Cards may incur.

1.12. We may at our sole discretion issue / restrict /terminate any number of Cards that relate to you.

2. Using the Card

2.1. The Card may only be used in accordance with the Agreement and we have the right to restrict the services/facilities provided pursuant to the issue/usage of the Card at our sole discretion and terms.

2.2. Subject to sufficient Available Funds and any restrictions in the Agreement, the Card can be used worldwide at ATMs, POS Terminals or E-commerce website or any card operated machine or device, whether belonging to us or other participating banks or financial institutions where logos appearing on the Card are displayed/ accepted and any other services so authorized on the Card by us. The Card may also be used at any Merchant location that accepts the Transaction for processing or displays the logo appearing on the Card. The Card may be used for retail purchases, cash withdrawals, purchase of goods and services via the internet, telephone, facsimile and mail order or for any other services approved by us, for Transaction values not exceeding the Limit (subject always to sufficient Available Funds) from time to time.

2.3. If the Card User wants to make a Transaction using their Card or Card details, they will need to authorize it by using their Card, a PIN number, your signature or other security code, password, biometric data or other personal identifier, or a combination of these. Where contactless payments are available, they can also authorize a Transaction by touching the payment terminal with their card or device. We can’t cancel or stop a Transaction once they have authorized it.

2.4. The Available Funds will be reduced by the full amount of each Transaction plus any applicable Charges.

2.5. Due to restrictions, the Card may not operate in some countries and may not be accepted at some Merchant locations which are not in compliance with either our internal policies or those whose MCC’s have been blocked by us.

2.6. Merchants that accept the Card are required to seek authorization from us or through any appointed payment processor for all Transactions that are made and we cannot stop a Transaction once authorized. Some Merchants may not be able to authorize the Card Transaction if they cannot obtain an online authorization from us.

2.7. Some Merchants, particularly hotels, car rental agencies, and restaurants, may place a “hold” on the Available Funds until the Merchant sends us the final payment amount of the purchase. Once the final payment amount is received, the pre-authorization amount on hold will be removed. The hold will be released within 30 business days, depending on the Merchant's policies. During the hold period, you and the Card User will not have access to the pre-authorized amount.

2.8. The Card is only meant for the Card User’s use and expires on the date printed on the Card. It may be extended for a limited period subject to terms of the Agreement. .

2.9. You agree that the Card will not be used in any manner that could damage, disable, overburden or impair the Card. You also agree that the Card will not be used for money transfers, accessing or purchasing goods from adult or gambling locations or internet sites, or for any other activity prohibited under Sharia principles or Saudi law, including but not limited to transactions involving alcohol, pork products, gambling, or other restricted merchants as applicable.

2.10. You must comply with all applicable laws and regulations (including any foreign exchange controls) with respect to the Card in the issuing country and the country of use. We reserve the right to suspend the Card, terminate this Agreement and exercise any other remedies available to Us due to your failure to comply with any part of this provision. You agree that we have no obligation to monitor, review or evaluate the legality of your Transactions and that such actions shall be your sole responsibility. We are not liable for any prohibited use or misuse of the Card whatsoever. The Card can only be used if it has sufficient Available Funds, and the Card User is solely responsible for ensuring that there are sufficient Available Funds for an intended Transaction. If, for any reason whatsoever, an intended Transaction causes the Card to be debited in excess of the Available Funds (whether by use of the Card or towards any fees or charges), You are responsible for any Shortfall on the Card.

2.11. We are entitled to set off any sum of money on the Card due from you to us against any positive balance in the Account held by You with Us.

2.12. If you are entitled to a refund for goods or services purchased using the Card, or another credit for any other reason, such refund or credit will be made to the Account, in the applicable currency thereby increasing the Available Funds.

2.13. Our record of any Transaction shall be final and binding. You will not be provided with a printed statement, and can check your Available Funds via the dedicated App. It is your responsibility to keep track of the Available Funds. You acknowledge that the amount stated on the ATM screen or a printed slip or receipt advice shall not for any purpose whatsoever be taken as a conclusive or up to date statement of the Card.

2.14. You acknowledge that the available balance in the Card may be different from the balance amount as displayed through any channel, due to pending Transactions or other blocked amounts (being amounts transacted but not processed) relevant to the Card.

3. Loading and Re-loading

3.1. The Account can be loaded solely through a bank transfer initiated by one of your bank accounts in KSA.

3.2. Your Available Funds are safeguarded in a bank account with Alrajhi Bank and will only be used for settling any spend on your Card and any applicable fees and charges.

3.3. Unless stated otherwise, the Loaded amounts will be credited to the Available Funds when the Issuer receives such amounts on the safeguarded account.

3.4. We shall have the right to withhold any Load and suspend the release of related funds if we need to verify the source of such funds. We may request additional information and documentation from You regarding the source of funds. If the provided information is insufficient or unsatisfactory, we may, at our discretion, report and surrender such funds to the relevant authorities in compliance with applicable laws and regulations

4. Keeping your Card and PIN secure

4.1. You and the Card User must do all that you reasonably can to keep the Card safe and the PIN and other security details secret and safe at all times and not disclose them to any third party.

4.2. You must never; (i) allow anyone else to use the Card, PIN or other security details; (ii) write down the PIN or any other security information together with the Card; or (iii) give the PIN to anyone, authorized or unauthorized.

4.3. We will never ask you to reveal Your PIN.

4.4. The PIN may be disabled if an incorrect PIN is entered three (3) times. If the PIN is disabled, please contact us at the number on the back of the Card for assistance. If the PIN is disabled, or if a Merchant does not accept Chip and PIN, you will be required to sign for any Transactions at Merchants, provided that this is supported by and acceptable to the Merchant.

4.5. You must promptly block the card via the App and notify Us of any loss or theft of the Card or PIN. We will not be liable for any misuse of the Card or unauthorized withdrawal arising out of the loss, theft or misuse of the Card or the PIN, except as required under applicable KSA laws and SAMA regulations regarding payment service provider liability. You can avail for a Replacement Card in the event of loss or theft of your Card via the Pemo App Issuance of a Replacement Card might be subject to a Fee.

4.6. We may suspend the Card, at anytime, with or without notice, if we think the Card has been or is likely to be misused, or if You breach any important term or you repeatedly breach any term and fail to remedy it, or if we suspect any illegal use of the Card. We may also suspend the Card upon request of the card scheme or any authorized regulator. If We do suspend the Card, We will inform you of our decision, unless such disclosure is prohibited by law or would otherwise compromise fraud prevention or security measures.

5. Unauthorized Transactions

5.1. You must notify Us of any unauthorized Transactions via the App, our support email or call center number  without undue delay and in any event no later than thirty (30) days of the Transaction debit date, in accordance with SAMA Regulations. We will request that You provide additional written information concerning any such Transaction and You must comply with such request.

5.2. In case of unauthorized Transactions, We will assist You in submitting a dispute to the relevant payment scheme/network. The payment scheme/network will conduct an investigation to determine whether a refund is warranted. Any refund will be subject to the payment scheme's/network's investigation outcome and other applicable rules and regulations. We shall not be liable for the investigation outcome or any losses You may suffer. If the investigation concludes that the Transaction was authorized by You, or on Your behalf, or You have acted fraudulently, You will not be entitled to a refund.

5.3. You should check your Transaction history regularly. If you notice an error or a card Transaction that You do not recognise, you must tell us as soon as possible and no later than (1) month from the date of the Transaction debit date.

5.4. If you have any dispute concerning the quality of goods or services bought with the Card, you must address such disputes directly with the Merchant (retailer). We are  not responsible for and will not be involved in any disputes between you and the Merchant regarding the quality of goods or services purchased using the Card.

6. Transactions, Fees and Limits

6.1. Fees and limits apply to the Card, as indicated in the Account Fee Schedule. The Fees we charge are subject to change from time to time, in accordance with this Agreement. You will be notified of any change in the applicable Fees through the App nominated in the User Guide.

6.2. You agree to pay and authorize us to debit the Available Funds for the fees set out in the Account Fee Schedule. These Fees may be debited from the Available Funds as soon as they are incurred.

6.3. Some ATM operators impose their own limits on the amount that can be withdrawn or spent over a specific time period.

6.4. Certain Merchants may charge an additional Fee if the Card is used to purchase goods and/or services. The Fee is determined and charged by the Merchant by including it in the Transaction amount and is not retained by us.

6.5. Dynamic Currency Conversion (DCC) is a process whereby the amount of a transaction is converted by a merchant or ATM to a currency other than the country’s local currency. When using your Card abroad, you may be given the option to pay in Saudi Riyals (SAR) instead of the local currency of the country you are in. In this case, the merchant or ATM operator is applying a foreign exchange margin to the applicable conversion rate that would apply to convert the Transaction currency into another currency. This may result in an increased cost to your Transaction.

6.6. The foreign currency equivalent for the above-listed amounts will be determined based on the Conversion Rate or the VISA Conversion Rate, as applicable.

6.7. For this section, a “day” is defined as a 24-hour period commencing at 12am (KSA Time).

7. Foreign Currency Transactions

7.1. A foreign exchange rate will apply in the following instances: (i) (ii) POS Terminal Transactions where the Transaction is in a currency other than that available on the Card; (iii) ATM withdrawals where the withdrawal currency is not SAR within KSA

7.2. If a foreign exchange conversion takes place, the conversion will be undertaken at the prevailing exchange rate.

7.3. Foreign exchange rates are subject to variation and the rate that applies one day will not necessarily be the same on any other day. We are not responsible for and cannot guarantee you will receive any specific exchange rate. Changes in the exchange rates may be applied immediately and without notice.

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

8. Closing your Account

8.1. To close your Account, you can request so through the App.

8.2. At your option, you can spend your Available Balance by withdrawing funds at an ATM, spend the funds by transacting at a merchant through one of your cards or, if applicable, you can request your Available Balance be returned via bank transfer, with any applicable Fees charged by the bank, which will be deducted from the final amount. The transfer will be sent within 7 days.

8.3. All returns may be net of Charges, and uncollected Transactions.

8.4. We will pay you your Available Balance on the closing date. Upon closure of your Account, you may be asked to destroy or return the Card to us. In any event, the Card linked to your Account will be automatically cancelled.

9. Redemption: Redeeming Unspent Funds

9.1.  You may redeem the balance of any unspent funds into your Bank account. Payment will only be made to a KSA bank account in your name. Redeeming the balance of unspent funds will be in SAR.

9.2. A cash out fee may be charged for redeeming unspent funds on the Card at the Purchase Location or through Card Services if: (i) you redeem unspent funds on the Card before the Termination Date; or (ii) you redeem unspent funds on the Card and end this Agreement or (iii) you redeem unspent funds on the Card after a period of twelve (12) months from the Termination Date.

10. Termination of the Agreement

10.1. The Agreement shall terminate on the account closure issued to you under the Agreement but the termination of the Agreement will not affect any of our rights including rights to outstanding payments.

10.2. We may end this Agreement prior to the Termination Date by giving you at least two (2) months’ prior written notice by letter or email to the address you have provided us.

10.3. You may end this Agreement prior to the Termination Date at any time by writing to or emailing us.

10.4. Upon ending this Agreement in accordance with the terms and conditions, you will no longer be able to use the Card and the Account. The ending of this Agreement will not affect your right (if any) to redeem unspent funds in accordance with the terms and conditions.

10.5. This Agreement will not be considered terminated should you cancel your subscription, if there is a period of time remaining as part of said subscription. This Agreement will terminate when said subscription expires without renewal, or when the total time of the subscription ends.

11. Changing the Terms and Conditions

11.1. You are deemed to have read, understood and agreed to be bound by the present Agreement. We may amend the Agreement from time to time, in order to comply with applicable laws and regulations or as needed for our business. Any changes, additions, amendments, supersessions or supplements to any or all provisions of this Agreement shall be made in compliance with the Saudi Central Bank (SAMA) regulations and the Banking Consumer Protection Principles. For material changes affecting your rights and obligations, we will provide you with at least 30 days' prior written notice, with the exception of changes that need to be implemented immediately by law. Such amendments will be available on the App and will be effective from the date specified in the notice. Continued use of the Card after the effective date constitutes acceptance of such changes.

12. Personal Data

12.1. We protect, control, process and retain your Personal Data for the purposes of providing payment services to you or otherwise to fulfil this Agreement in accordance with the Saudi Personal Data Protection Law (PDPL) issued by Royal Decree No. M/19 dated 17/5/1443H, its Implementing Regulations, and all applicable SAMA regulations regarding data protection and banking consumer protection and its Implementing Regulations, and the Saudi Central Bank (SAMA) regulations regarding data protection, and any other applicable laws and regulations concerning data protection in the Kingdom of Saudi Arabia.

12.2 We refer to our Privacy Policy for more detail.

13. Liability

13.1. The Cards are issued entirely at Your risk. We shall bear no liability whatsoever for any loss or damage arising from the issuance of the Card, however caused. Use of the Card for any Transaction shall be at your sole risk. By requesting the issuance of or using the Card you confirm assuming any and all financial risks incidental to or arising out of the Card’s usage with no further liability to Us.

13.2. You agree to fully indemnify us and hold us harmless against any and all actions, proceedings, costs, losses or damages (including legal costs) we may suffer in connection with the usage of the Card any misuse of the Card, PIN and/or other facilities provided to you in relation to the Card. This includes any liability arising from your failure to maintain safe custody of the Card at any time before the Card is cancelled.

13.3. You hereby agree to fully indemnify and hold us, our officers, employees or agents harmless against any liability, loss, charge, demand, proceedings, cost (including legal fees), or expense, which We may suffer, pay or incur as a result of Us, Our officers, employees or agents acting upon or delaying or refraining from acting upon instructions of you or purporting to be from You or which We believe have been issued by or for You or in any way in connection with the Card or the Agreement, or in enforcing these Terms and Conditions and in recovering any amounts due to Us or incurred by Us in any legal proceedings of any nature.

13.4. We will not be liable to you for: delays or mistakes resulting from any circumstances beyond Our control, including, without limitation: (i) acts of governmental authorities, national emergencies, insurrection, war, or riots; (ii) the failure of Merchants to accept or honor the Card; (iii) the failure of Merchants to perform or provide services or goods; (iv) communication system failures; (v) interception of communications; or (vi) mechanical defects, failures or malfunctions attributable to Your equipment, any internet service, or any payment system.

13.5. We are not responsible for ensuring that ATMs and POS Terminals will accept the Card, or for the way in which a Merchant processes a Transaction. We will not be liable to You for any non- acceptance of the Card, for disputes concerning the quality of goods or services purchased on the Card or any additional fees charged by the operators of these terminals (for example, when You withdraw currency from an ATM, the ATM operator may charge You an additional fee for the service).

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

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

a) If, through no fault of Ours, there are insufficient funds available on the Card to complete a transaction;

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

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

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

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

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

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

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

i) If We (in our sole discretion) have reason to believe the requested Transaction is unauthorized;

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

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

l) Any other exception stated in this Agreement.

13.8. In the event that We are held liable to You, You will only be entitled to recover Your actual damages. In no event shall You be entitled to recover any indirect costs (including legal costs) consequential, exemplary or special damages (whether in contract, tort or otherwise), even if You have advised us of the possibility of such damages. This provision shall not be effective to the extent otherwise required by law. To the extent permitted by law, You agree that Your recovery for any alleged negligence or misconduct by Us or service agents shall be limited to the available balance on the Card.

14. Disclaimers

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

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

b) not being in the required geographical range;

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

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

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

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

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

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

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

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

15. Communication and Notices

15.1. If You have any queries regarding the Card, please refer to the App, otherwise call the number printed on the back of Your card.

15.2. We undertake to communicate with you in Arabic or English regarding any aspect of the Card.

15.3. You agree that we may communicate with you by email, instant messaging platform or SMS or through the App for issuing any notices or information about the Card and therefore it is important that you ensure that you keep Your email address or mobile phone number updated and regularly check the App.

15.4. We may record and shall keep a record of your application form, identification documents, and request forms as well as any electronic, written or verbal communications in accordance with KSA data retention requirements.

15.5. You agree that all the telephone calls between you and us may be tape recorded by Us and that such recording may be submitted in evidence in any proceedings.

15.6. Save as otherwise provided in this Agreement, any demand or communication made by us under the Agreement will be in writing in Arabic and/or English and made at the address given by you (or such other address as you may notify us from time to time).

15.7. Any notice sent by either party under this Agreement by email shall be deemed given on the day the email is sent, unless the sending party received an electronic indication that the email was not delivered; and if by post, shall be deemed given ten (10) Business Days after the date of posting.

16. General Provisions

16.1. In addition to any general right to set-off or other rights conferred by the law to us, you agree that we may in our absolute discretion at any time and without notice combine and consolidate all or any amounts in any Account of yours regardless of currency to set-off or transfer any amount in or towards discharge of all amounts due to us under anyAccount with us whether in local currency or any other currency and may do so notwithstanding that the balances on such Accounts and the sums due may not be expressed in the same currency and you hereby authorize us to offset any such combination, consolidation, set-off or transfer with the necessary conversion at our prevailing exchange rates which shall be determined by us at our absolute discretion.

16.2. No forbearance, neglect or waiver by us in the exercise or enforcement of any right or remedy arising from this Agreement will prejudice our right thereafter to strictly enforce the same.

16.3. No waiver by us will be effective unless it is in writing.

16.4. If any provision in this Agreement is found to be unenforceable, invalid or illegal, such provision will be deemed to be deleted and the remainder of these Terms and Conditions will be unaffected by such unenforceability, invalidity or illegality.

16.5. We are entitled to record all communication and conversations (including telephone conversations) with you and/or any authorized representative of yours and messages and/or instructions sent to us whether by telephone, in person, voice, use of a touch-tone key pad, electronically or otherwise and Transactions conducted by or through any such medium. Our record of all such communications, conversations, instructions, messages and Transactions will be conclusive and binding on you for all purposes.

16.6. We may assign any of our rights and obligations under the Agreement to any third party, subject to obtaining necessary regulatory approvals from SAMA where required, and such party continuing the obligations in the Agreement to you in accordance with applicable Saudi Arabian laws and regulations. You are not permitted to assign your rights and obligations under the Agreement to any third party.

17. Law, Jurisdiction

17.1. Any disputes which arise under these Card Terms and Conditions shall be governed by the laws of the Kingdom of Saudi Arabia and are submitted irrevocably to the jurisdiction of the Commercial Courts of the Kingdom of Saudi Arabia

Latest update: 16/03/2026

These terms and conditions form the Agreement between NymCard Payment Services LLC, Pemo Payment Service Provider LLC, and You shall be referred to as the "Agreement" or "Terms and Conditions".

Your Account and Card are issued by NymCard Payment Services LLC [www.nymcard.com] (hereinafter referred to as NymCard, “We,” or “Us”) and powered by Pemo Payment Service Provider LLC (hereinafter referred to as Pemo) who provides the Online Services (defined below) in their capacity as an Agent of NymCard.

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

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

By requesting issuance of and/or using the Account and Prepaid Card (the "Card") issued by NymCard, You confirm that You understand, accept and shall comply with these Terms and Conditions and Key Fact Statement (KFS). Your Card is non-transferable, and it may be cancelled, suspended, or revoked at any time without prior notice subject to applicable laws or non-compliance of these Terms and Conditions.

Please read these Terms and Conditions carefully. By proceeding, you acknowledge and accept that:

• Failure to comply with these Terms and Conditions may result in suspension, restriction, or termination of your Card and Account.
• Funds may be frozen, forfeited, or withheld in order to: (i) comply with applicable law, regulation, card scheme rules or a regulator/authority request; (ii) meet AML/CFT, sanctions, fraud prevention, security or risk management requirements; (iii) investigate suspected unauthorised, illegal or prohibited activity; or (iv) address actual or suspected misuse or breach/non-compliance of these Terms and Conditions. We will notify You of such action and reasons as soon as reasonably practicable, unless we are prohibited by law or where doing so would compromise security, fraud prevention or an investigation.
• Legal action may be taken where necessary, and relevant information may be reported to regulatory authorities and/or credit bureaus, which could affect your access to financial services in the future. If you do not agree with these Terms and Conditions, you should not proceed with using the services.

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Definitions and Interpretation

"Account"  means the account and Prepaid Card held and maintained by You which is used for executing Transactions.

"Agent"  means in respect to this Agreement, Pemo Payment Service Provider provisioning the following services on behalf of NymCard: Payment Initiation, collection of Personal Data for the purpose of Identification Checks and providing you with Online Services.

"ATM"  means Automated Teller Machine.

"AED"  means United Arab Emirates Dirhams, currency of the United Arab Emirates.

"Available Funds"  means the existing balance in the Account and Card that is available for utilization or withdrawal, as reduced by any Transaction amounts which have been reserved, blocked, are pending or have otherwise not been processed or released.

"Base Currency"  refers to the default currency and any Transaction performed by You in a currency not available on the Card will be converted into the Base Currency. The Base Currency for your Account and Cards is Emirati Dirhams (AED).

"Business Day"  means any day of the week, excluding Fridays after 1pm, Saturdays, and Sundays and statutory holidays in the United Arab Emirates.

"Card, Prepaid Card"  means each prepaid card issued to You or any Cardholder within your organization, whether with or without Your name being printed or embossed on the physical Card and which may also be in the form of a virtual card. Any references to 'Card' also include any Replacement Card, and/or any Supplementary Technology deployed by Us for use with Your Card where appropriate.

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

"Card Fund"  means the aggregate sum of all the funds loaded onto the Card.

"Card Services"  means any services provided by us, our third-party service providers, or the Program Manager, in connection with the Card, including call center services.

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

"Country"  means The United Arab Emirates (UAE).

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

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

"E-commerce website"  means internet websites where merchants (Retailers) accept the Card for purchase of goods and services.

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

"Issuer"  means NymCard Payment Services LLC ('NymCard') a company licensed by the Central Bank of UAE under license number 08.01.02.001.2022.02 with registered address at Al Safouh Second, Al Salam Tower, 27th Floor, 2703, P.O. Box 451240, Dubai, United Arab Emirates.

"KFS"  means Key Fact Statement.

"Limit"  means the limit set by Us for usage on the Card for cash withdrawal or purchase of goods and services, subject to the Available Funds. We may change the set limit on the Card at any time at our sole discretion.

"Load / Loaded / Loading"  means to add money to the Account or Card.

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

"Online Services"  means optional mobile application(s) or websites that may be made available to You to manage Your Card/Account. Online Services may enable You to use Your Registered mobile device to manage your Account and Card, perform Transactions such as balance enquiries, view available funds and Customer Support communications in addition to initiating payments.

"Payment Initiation"  means initiate a Payment Order at the request of the User with respect to your Account and Card held with NymCard. For the avoidance of doubt, Payment Initiation does not involve the holding of funds at any time.

"Payment Order"  means a request by the User to initiate a Payment to Merchants for purchase of goods or services, to load your Card from your Account or transfer funds to another User within the same Application provided as part of the Online Services.

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

"PIN"  means a unique Personal Identification Number allocated to each Card.

"POS Terminal"  means point of sale or an electronic terminal available at Merchants whether local or international, capable of processing Transactions.

"Primary Account or Cardholder"  means the person whose name is used to open an account and the person who issues supplementary card(s).

"Program Manager"  means NymCard and NymCard affiliates providing Card Services, support and other such services as determined by Us.

"Replacement Card"  means a substitute Card which may be issued to You in the event of the loss or theft of Your Card.

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

"Shortfall"  means when in certain circumstances the Available Funds and/or a particular currency in the Card drops below zero (0).

"Supplementary Technology"  means any technologies or devices that We may introduce for use together with, or as a replacement for, Your Card and which may include without limitation, wristbands and mobile devices.

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

"Transaction"  means transactions made by using the Account or Card, whether with or without use of the Card Number, PIN or signature, and regardless of whether any slip or other voucher was signed by You and includes any cash withdrawal made available by Us or the amount charged by Us or a Merchant for any goods, services or benefits.

"Unsupported Currency"  means a Currency other than a Supported Currency.

"User / Card User / Customer"  means the authorized person whose name is on the Account and Card, which is used to execute Transactions.

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

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

"You / Your"  means the owner of the Account and the person legally responsible for all Cards issued.

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1. Applying for The Card

1. To apply for an Account and Card as a primary account holder or a Supplementary Cardholder, You must be at least eighteen (18) years old and a United Arab Emirates (UAE) resident. We may ask to see evidence of who You are and Your address.We may ask for documentary evidence to prove this and/or we may carry out Identification Checks on You electronically.
2. When we perform electronic Identification Checks, Personal Data provided by You may be disclosed to a registered third-party agency who may keep a record of that information. By purchasing or requesting Our services, You agree to Your Personal DataPersonal Data being passed to such agencies for this purpose.
3. Your Card will be issued to You on the basis of the required information that You have provided is accurate and valid. You agree to update Us of any changes to Your Personal Data when such change occurs, or as we may request of You.
4. The approval of a Card and Account is subject to successful verification of your or a Card User's identity by the Issuer.
5. Activation of your Account will be effected once you load funds into the Account.
6. Activation of supplementary Cards will be affected upon activating them through Card activation channels.

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1A. Key Fact Statement "KFS" Disclosure

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

7. Fees and Charges: A clear breakdown of applicable fees, including issuance fees, transaction charges, foreign exchange markups, and any recurring costs.
8. Usage Limits: Transaction limits, daily/monthly withdrawal caps, and spending restrictions.
9. Customer Rights and Responsibilities: Including the right to dispute transactions, access data, and withdraw consent.
10. Data Privacy & Protection: How Customer Data / Personal Data is collected, processed, and protected under applicable laws.
11. Termination and Refund Policy: Conditions under which the account or service can be closed, and any applicable refund policies.
12. Liability in Case of Fraud or Unauthorized Transactions: The extent of customer liability in case of loss, theft, or unauthorized use.
13. Customer Support Information: How to contact Us for inquiries, complaints, or dispute resolution.

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By proceeding with the issuance of a Card or Account, the Customer acknowledges receipt and understanding of the KFS. In case of any inconsistency between the KFS and these Terms and Conditions, the KFS shall prevail to the extent of the inconsistency.

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2. The Account and the Card

2.1. The Account and Card are not a checking, savings, or other bank account and are not connected in any way to any other account.

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

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

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

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

2.6 Various limits may apply to the Card in respect of individual Transactions, as well as daily and weekly transacted amounts based on the limits You place on the Cards as well as the Card Program Limits.

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

2.8 As the applicant, You are responsible for all Cards issued to You under the Agreement and for Charges that these Cards may incur.

2.9 We may at our sole discretion issue / restrict / withdraw any number of Cards that relate to your Account.

2.10 We will act honestly, fairly and professionally in our dealings with any Business Customer, communicate in a manner that is clear, fair and not misleading, and will take reasonable steps to identify and address foreseeable customer harm in connection with the Card Services.

2.11 Any marketing or customer communications we issue in relation to the Card Services will be clear, accurate, fair and not misleading, and will not omit material information needed for an informed decision. In addition, we will take reasonable steps to identify Business Customers who may be vulnerable and, where identified, provide appropriate support and reasonable adjustments in the provision of the Card Services as per applicable requirements and procedures.

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3. Using the Card

3.1. The Card may only be used in accordance with the Agreement and We have the right to restrict the services/facilities provided pursuant to the issuance/usage of the Card at our sole discretion and terms.

3.2. The Card is only meant for the Card Holder's use and expires on the date on the front of the Card and may be extended for a limited period subject to the Agreement. Upon expiry, You may be able to transfer the remaining funds to a new Card in accordance with our prevailing policy.

3.3 Subject to sufficient Available Funds and any restrictions in the Agreement, the Card can be used worldwide at ATMs, POS Terminals or E-commerce website or any card operated machine or device, whether belonging to Us or other participating banks or financial institutions where logos appearing on the Card are displayed/accepted.

3.4 If the Card User wants to make a Transaction using their card or card details, they will need to authorize it by using their card, a PIN number, Your signature or other security code, password, biometric data or other personal identifier, or a combination of these.

3.5 The Available Funds will be reduced by the full amount of each Transaction plus any applicable Charges.

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

3.7 The Card can only be used if it has sufficient Available Funds, and the Card User is solely responsible for ensuring that there are sufficient Available Funds for an intended Transaction. If, for any reason whatsoever, an intended Transaction causes the Card to be debited in excess of the Available Funds (whether by use of the Card or towards any Charges), You are responsible for any shortfall on the Card.

3.8 Due to restrictions, the Card may not operate in some countries and may not be accepted at some Merchant locations which are not in compliance with either our internal policies or those whose MCCs have been blocked by us.

3.9 Merchants that accept the Card are required to seek authorization from Us or through any appointed payment processor for all Transactions that are made and we cannot stop a Transaction once authorized.

3.10 Some Merchants may place a hold on an amount greater than the value of Transaction that the Card User wishes to make, which requires a pre-authorization for such an amount. Excess amounts held beyond the final Transaction amount will be released to You within 20 days' time.

3.11 You acknowledge that the available balance in the Card may be different from the balance amount as displayed through any channel, due to pending Transactions or other blocked amounts.

3.12 Our record of any Transaction shall be final and binding. You will not be provided with a printed statement, and can check Your Available Funds via Online Services.

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

3.14 You agree that the Card will not be used in any manner that could damage, disable, overburden or impair the Card. You also agree that the Card will not be used for accessing or purchasing goods from restricted merchants.

3.15 You must comply with all applicable laws and regulations (including any foreign exchange controls) with respect to the Card in the issuing country and the country of use. We reserve the right to suspend the Card, terminate this Agreement and exercise any other remedies available to Us due to Your failure to comply with any part of this provision. You agree that we have no obligation to monitor, review or evaluate the legality of Your Transactions and that such actions shall be Your sole responsibility. We are not liable for any prohibited use or misuse of the Card whatsoever

3.16 You shall be liable to pay any amount debited to the Supplementary Card, and shall be jointly and severally liable with the Supplementary Cardholder for any Card Transaction and Charges relating to the Supplementary Card.

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4. Using the Online Services and Contact Details

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

4.2 For any technical issues arising from the use of the Online Services only, please contact Pemo on the following email: support@pemo.io

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

4.4 We will acknowledge receipt of Your complaint within two (2) Business Days, provide a reference number, and (where relevant) request any information reasonably required to investigate. We will use our best efforts to resolve the complaint within thirty (30) Business Days. If You are dissatisfied with our final response (or if the complaint is not resolved within the timeframe above), You may escalate the complaint through any external escalation mechanism made available by the CBUAE, including Sanadak (www.sanadak.ae) or the CBUAE Consumer Protection Unit (+971 2 691 4499).This right may be exercised only after you have submitted a complaint to Us and received an unsatisfactory response or no response within the specified time. 

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5. Loading and Re-loading (Funding)

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

5.2 Your Available Funds are safeguarded in a bank account with a bank designated by Us and will only be used for settling any spend on your Card and any applicable Charges as detailed in Annex 1.

5.3 Until the expiry of the Card or termination of the Agreement, You can load additional funds to the Available Funds through the supported channels, subject to certain limits and fees. A summary of applicable fees is provided in the KFS, with full details outlined in Annex 1: Charges.

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

5.5 If the Load amount exceeds the maximum balance permitted by Us from time to time, then at Our discretion such excess amounts shall not be loaded and shall be returned to its point of origin.

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

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

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6. Keeping Your Card and PIN Secure

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

6.2 You and the Card User must keep the Card safe and the PIN and other security details confidential and safe at all times and not disclose them to any third-party. In case You breach the aforementioned obligation and/ or You don’t comply with it due to your own negligence or willful misconduct, You shall be solely responsible for the losses resulting from such breach and / or non-compliance and You undertake to reimburse the related losses incurred by Us or any third party.

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

6.4 We will never ask You to reveal Your PIN.

6.5 The PIN may be disabled if an incorrect PIN is entered three (3) times.If the PIN is disabled, please contact Us at the number on the back of the card for assistance.

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

6.7 You must promptly notify Us by email, phone or by using the 'Contact Us' facility available on the Online Services of any loss or theft of the Card or PIN. We will suspend the Card to prevent further use. If a lost Card is subsequently found, it must not be used unless We confirm it may be used.We will not be liable for any misuse of the Card or unauthorized withdrawal arising out of the loss, theft or misuse of the Card or the PIN or password nor in case of any consequences due to a notification failure.

6.8 You will be required to confirm details of any loss, theft or misuse to Us in writing and You must assist us, the police and any other official investigation authority in any enquiries.

6.9 We may refuse to approve a Transaction and/or suspend the Card, with or without notice, if we think the Card has been or is likely to be misused or if You have breached the Agreement.

6.10 We may suspend the Card, at any time, with or without notice, if we think the Card has been or is likely to be misused, or if You breach any important term. We may also suspend the Card upon request of the card scheme or any authorized regulator.

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7. Unauthorized Transactions

7.1 You must notify Us of any unauthorized Transactions through our Card Services number without undue delay and in any event no later than three months (3) months of the Transaction debit date. We will request that You provide additional written information concerning any such Transaction and You must comply with such request.

7.2 You will be liable for all losses in respect of the Card if You have (i) acted fraudulently; (ii) failed to use the Card in accordance with the Agreement; (iii) have failed to notify Us without undue delay on becoming aware of the loss, theft or misuse of the Card; or (iv) have failed to take all reasonable steps to keep the Card's security features safe, (v) have failed to provide us the additional written duly executed documents within the set timelines as stipulated by the card schemes.

7.3 Where You are not liable for an unauthorized Transaction, We will refund the value of that Transaction and will have no further liability to You for any other losses You may suffer.

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

We will not refund any unauthorised Transaction if we think that You have acted fraudulently, You have intentionally or with gross negligence failed to use the Card in accordance with these Terms and Conditions, or You have failed to notify Us without undue delay.

Even if we have refunded You for any unauthorised Transaction, We may later deduct the amount refunded from Your Card if after further investigation We conclude that You authorised the Transaction or You were not entitled to a refund.

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8. Merchant Disputes

8.1 If you have a dispute concerning the quality of goods or services bought with the Card, we won't be able to refund you unless the Merchant (retailer) agrees to it. If you have agreed that a retailer can take payment from your Card, we'll only be able to initiate your claim if: the amount charged exceeds the amount you reasonably expected and agreed to pay, or You did not receive the purchased item(s). You must also give Us any additional information that we ask for that is reasonable, for Us to investigate whether you are entitled to a refund.

8.2 We can’t cancel or stop a Transaction once it has been authorized.

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9. Charges and Limits

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

9.2 You agree to pay and authorize Us to debit the Available Funds for the Charges set out in Annex 1. These Charges may be debited from the Available Funds as soon as they are incurred.

9.3 From time to time, we may limit the amount You can load on the Card, or the amount You can withdraw from ATMs or spend at Merchants over certain time periods.

9.4 Certain Merchants may charge an additional fee if the Card is used to purchase goods and/or services. The fee is determined and charged by the Merchant by including it in the Transaction amount and therefore we have no control over it.

9.5 Dynamic Currency Conversion (DCC) is a process whereby the amount of a Transaction is converted by a merchant or ATM to the currency other than the country's local currency. In this case, the merchant or ATM operator is offering DCC service. You acknowledge the additional fees that may be charged in such cases.

9.6 The foreign currency equivalent for the above-listed amounts will be determined based on the Conversion Rate or the VISA/Mastercard Conversion Rate, as applicable.

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

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10. Foreign Currency Transactions

10.1 A foreign exchange rate will apply in the following instances: (i) initial load or reload(s) using the card for a Transaction in a currency which is different to the Base Currency or any currency supported by Us,(ii) POS Terminal Transactions where the Transaction is in a currency other than that available on the Card; (iii) ATM withdrawals where the withdrawal currency is not available on the Card.

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

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

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

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11. Supplementary Technologies

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

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

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12. Closing Your Account

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

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

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13. Redemption of Unspent Funds

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

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

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14. Termination of the Agreement

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

14.2 We may end this Agreement prior to the Termination Date by giving You at least one (1) months' written notice by letter or email to the address You have provided Us.

14.3 You may end this Agreement prior to the Termination Date at any time by writing to or emailing us.

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

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

14.6 This Agreement will not be considered terminated should You cancel Your subscription with Pemo, if there is a period of time remaining as part of said subscription. This Agreement will terminate when said subscription expires without renewal, or when the total time of the subscription ends.

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15. Changing the Terms and Conditions

15.1 You are deemed to have read, understood and agreed to be bound by this Agreement. At any time, We may change, add, amend, supersede or supplement any or all of the provisions of this Agreement.Such amendments will be available on the website or mobile application and will be effective from the date of such change. Such changes are deemed to be binding on You whether or not You have received specific notice in person of such amendments.

15.2 We may amend the Agreement from time to time, in order to comply with applicable laws and regulations or as needed for our business. If You do not agree to a change that is materially adverse to You, You may terminate the Agreement before the effective date of such change and close/redeem the Account without charge (except for fees properly due for services already provided and disclosed in the KFS).

15.3 We do our best to notify You of changes at least one (1) months before the change is implemented on the website, with exception that changes that need to be implemented immediately by law.

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16. Personal Data

16.1 The collection, processing, and protection of Personal Data in connection with your use of the Pemo platform and Online Services is governed by Pemo's Privacy Policy, available at www.pemo.io/privacy-policy (the "Privacy Policy"). The Privacy Policy forms part of your agreement with Pemo and sets out in full: the types of data collected, legal bases for processing, retention periods, cross-border transfers, security measures, and your data rights. You should read it carefully before using the Services.

16.2 For the specific purposes of issuing and operating your Card, NymCard collects and processes the following Personal Data: your name, nationality, personal identification number, date of birth, identity document details, residential address, email address, and phone number. This data is collected directly from you and/or from authorised third-party identity verification and financial sanctions screening providers. NymCard will retain this data for a minimum of five (5) years from the completion of the last transaction or the termination of the business relationship, as required by UAE AML/CFT regulations.

16.3 You confirm that all Personal Data you have provided is complete and accurate. You must notify Us immediately of any changes to your Personal Data. We will not be responsible for losses arising from inaccurate or outdated information you have provided.

16.4 By requesting the issuance of or using the Card Services, you authorise Us and Pemo to disclose your Personal Data to our authorised representatives, subsidiaries, affiliates, agents, service providers, card scheme operators, and regulatory authorities, to the extent necessary to provide the Card Services and comply with applicable law. A full list of third-party categories to whom data may be disclosed is set out in Pemo's Privacy Policy.

16.5 You must promptly inform Us if your contact details, address, or any other Personal Data changes. We may contact you by telephone, letter, SMS, or email using the details you have provided.

16.6 Where processing is based on your consent, you may withdraw that consent at any time by contacting dataprotection@nymcard.com or via the Online Services. Withdrawal of consent does not affect the lawfulness of processing carried out prior to the withdrawal. To exercise your full data rights (access, rectification, erasure, portability), please refer to Pemo's Privacy Policy at www.pemo.io/privacy-policy.

16.7 Before entering into an agreement for payment services, we shall provide the Customer with the following disclosures: (a) We will only collect Personal Data for a lawful purpose directly related to the functions or activities of the Customer; (b) whether the collection of Personal Data is mandatory or voluntary for the Customer; (c) where collection is mandatory, the consequences of failing to provide the required Personal Data; (d) a Customer's withdrawal of previously given consent shall not affect the lawfulness of data processing based on that prior consent — unless otherwise specified, withdrawal shall take effect within a reasonable timeframe; (e) a description of the Personal Data being processed by or on behalf of NymCard; (f) when external data about the Customer is collected, the source of such Personal Data; (g) the Customer's rights and mechanisms to request access to, correct, or inquire about their Personal Data, including via dataprotection@nymcard.com.

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17. Liability

17.1 The Card is issued entirely at Your risk. We shall bear no liability whatsoever for any loss or damage arising from the issuance of the Card.

17.2 You agree to fully indemnify Us and hold Us harmless against any and all actions, proceedings, costs, losses or damages You may suffer in connection with the usage of the Card.

17.3 We will not be liable to You for: delays or mistakes resulting from Your breach of obligations, Your willful misconduct or gross negligence, or events beyond our reasonable control.

17.4 We are not responsible for ensuring that ATMs and POS Terminals will accept the Card, or for the way in which a Merchant processes a Transaction. We will not be liable to You for any non-acceptance of the Card, for disputes concerning the quality of goods or services purchased on the Card, or any additional fees charged by the operators of these terminals. These charges are outlined in the KFS.

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

17.6 We will not be liable under any of the following circumstances: insufficient funds; Card not honored or declined; ATM without enough cash; electronic terminal malfunction; Load declined at our discretion; Card blocked after loss/theft report; legal hold on funds; suspected unauthorized Transaction; circumstances beyond our control; consequential or punitive damages.

17.7 In the event that we are held liable to You, to the extent permitted by law, You will only be entitled to recover Your actual damages.

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18. Disclaimers

18.1 We shall be absolved of any liability in case: force majeure conditions; unauthorized use of the PIN; fraudulent, duplicate or erroneous Transaction instructions given by use of the PIN loss of information during processing or transmission; unauthorized access by any other person or breach of confidentiality; lapse or failure on the part of service providers; or any loss or damage whether direct, indirect or consequential.

18.2 We shall not be held liable for any loss incurred by You due to use of the Card by any other person with Your express or implied permission.

18.3 We shall not be held liable for any loss suffered by You due to disclosure of the Personal Data to a third-party by Us for legally required purposes. In no event shall You be entitled to recover any indirect costs (including legal costs) consequential, exemplary or special damages (whether in contract, tort or otherwise), even if You have advised Us of the possibility of such damages. This provision shall not be effective to the extent otherwise required by law

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19. Communication and Notices

19.1 We undertake to communicate with You in English or Arabic regarding any aspect of the Card.

19.2 You agree that We may communicate with You by email or SMS or through the website or the mobile application for issuing any notices or information about the Card.

19.3 We may record and shall keep a record of Your application form, identification documents, and request forms as well as any electronic, written or verbal communications.

19.4 You agree that all the telephone calls between You and Us may be tape recorded by Us and that such recording may be submitted in evidence in any proceedings.

19.5 Save as otherwise provided in this Agreement, any demand or communication made by Us under the Agreement will be in writing in English and/or Arabic.

19.6 Any notice sent by either party under the Agreement by email shall be deemed given on the next day the email is sent, unless the sending party received an electronic indication that the email was not delivered.

19.7 Legal notices may be sent to legal@nymcard.com.

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20. General Provisions

20.1 You agree that we may in our absolute discretion at any time and without notice combine and consolidate all your accounts with us and set off any funds.

20.2 No forbearance, neglect or waiver by Us in the exercise or enforcement of any right or remedy arising from this Agreement will prejudice our right thereafter to strictly enforce the same.

20.3 No waiver by Us will be effective unless it is in writing.

20.4 If any provision in this Agreement is found to be unenforceable, invalid or illegal, such provision will be deemed to be deleted and the remainder of these Terms and Conditions will be unaffected and will continue in full force and effect. We shall not be liable for our inability to pay due to restrictions on convertibility or transferability, requisitions, involuntary transfers, acts of war or civil strife or other similar causes beyond our control. In such event no other office, branch, subsidiary or affiliate of ours shall be responsible or liable to You

20.5 We are entitled to record all communication and conversations with You and/or any authorized representative of Yours.

20.6 We may assign any of our rights and obligations under the Agreement, without Your prior consent, to any third-party, subject to such party continuing the obligations in the Agreement to You.You are not permitted to assign Your rights and obligations under the Agreement to any third-party

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21. Applicable Laws and Competent Jurisdiction

The Agreement and any disputes, which arise under it, shall be governed by the laws of the issuing country and applicable federal laws of the United Arab Emirates and is subject to the non-exclusive jurisdiction of the competent courts of the United Arab Emirates.

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22. Consequences of Failure to Comply with Terms and Conditions

By using the Card and related services, you agree to comply with these Terms and Conditions. Failure to do so may result in:

• Suspension or termination of your Card and/or Account without prior notice.
• Restriction of transactions, including the inability to make purchases or withdraw funds.
• Legal action or reporting to regulatory authorities, where non-compliance involves fraudulent, illegal, or prohibited activities.
• Forfeiture of funds, including deductions for outstanding fees, penalties, or unauthorized transactions, as outlined in the KFS and Annex 1: Charges.
• Negative impact on future financial services, including potential restrictions from obtaining other financial products.

Additionally, as required by the regulations applicable to Licensed Financial Institutions, you acknowledge that:

• Failure to comply with these Terms and Conditions may result in adverse financial and legal consequences, including but not limited to additional fees, penalties, and the loss of access to financial services.
• Any outstanding dues or unpaid fees on your Account may be reported to regulatory authorities, which could affect your access to financial products in the future.
• You should review and understand your obligations under these Terms and Conditions before and during your relationship with Us to avoid any negative consequences.

If you have any questions regarding compliance, please contact Customer Support at support@pemo.io.

ANNEX 1: Charges

Fees can be found updated in the following Schedule of Fees.

For a summary of applicable fees and charges, please refer to the KFS provided before account activation. Full details of the applicable charges are outlined at the links provided. 

The specific fee structure will vary depending on the Client/Program, but all charges will remain within the approved fee ranges.

NymCard Payment Services LLC is licensed by the Central Bank of the UAE  |  License No. 08.01.02.001.2022.02

This Agreement is governed by UAE law and subject to the CBUAE Consumer Protection Regulation and accompanying Standards.

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