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Effective Date: 29 October 2026
These PayitFast Spend Card Terms (the “Card Terms”) are a binding agreement between you (“you” or “your”) and the Issuer (“we”, “us”, or “our”) that governs your use of the PayitFast Spend Cards, including the process for obtaining and managing PayitFast Spend Cards, access to which is provided to you by Silverleaf E-Money Services Limited dba PayitFast (“PayitFast”).
PLEASE REVIEW THE ARBITRATION CLAUSE AND NOTICES SET FORTH BELOW IN SECTION 18. BY USING THE CARD, YOU ARE AGREEING TO THE ARBITRATION CLAUSE AND NOTICES SET FORTH IN THAT SECTION. THE ARBITRATION CLAUSE WILL HAVE A SUBSTANTIAL EFFECT ON YOUR RIGHTS IN THE EVENT OF A DISPUTE, INCLUDING YOUR RIGHT TO BRING OR PARTICIPATE IN A CLASS PROCEEDING.
Rates, fees, and other important information about your PayitFast Spend Card (“PayitFast Card” or “Card”) are set forth in these Important Disclosures.
Effective as of 31 March 2026
Your PayitFast Spend Card is currently subject to a 0% annual percentage rate (“APR”) on purchases, and no interest is currently charged on purchases. The Issuer and PayitFast reserve the right to implement interest in the future in respect of new purchases, subject to applicable law and prior notice. PayitFast will disclose any changes to these Card Terms prior to the introduction of interest and other charges associated with your PayitFast Card.
Transaction Fee
Foreign Purchases
- Foreign Exchange Fee (non USD): 2.2%
- Cross Border Fee: 2.2%
WHEN YOU APPLY FOR A CARD ACCOUNT, ACTIVATE A CARD, OR OTHERWISE PARTICIPATE IN THE PROGRAM IN ANY WAY, YOU REPRESENT THAT YOU HAVE READ, UNDERSTAND, AND AGREE TO THESE CARD TERMS.
The PayitFast Card is provided to you on behalf of PayitFast in connection with your status as a PayitFast customer and pursuant to your separate User Agreement between you and PayitFast (the “User Agreement”). The Issuer is not a party to the User Agreement and disclaims any liability for the performance of services covered therein, other than those relating solely to issuance, authorization, and settlement of the PayitFast Card.
PayitFast has opened a PayitFast Account for purposes of facilitating transactions you make using a Card based on a limit established by PayitFast pursuant to the User Agreement. You understand that you have access to the Services and PayitFast Card only to the extent authorized by PayitFast. You acknowledge and agree that PayitFast will satisfy obligations created through your use of the PayitFast Card and you will repay PayitFast based on the terms of your User Agreement, subject to the terms below. In the event of a conflict between these Card Terms and your User Agreement, these Card Terms shall prevail.
Details on PayitFast's collection, use, and handling of your personal data are described in PayitFast's Privacy Policy. Please review it carefully and contact PayitFast if you have any questions. By opening, using, or maintaining a Card, you consent to and direct the Issuer to share information relating to transactions, including receipt information or other personal data, in order to deliver the Services.
The card program is issued by the Issuer under license from Visa. The information about the cost of the Card described in the above table is accurate as of 1 May 2026. This information may change after that date. To find out what may have changed, call or write the servicer, at support@payitfast.com and +17788061367.
The Issuer reserves the right to amend these Card Terms or impose additional obligations or restrictions on you at any time with or without notice to you. By continuing to use the Services, you agree to be bound by such amendments or additional obligations or restrictions. The date on the top of this page shows when the Card Terms were last updated. Capitalized terms that are not defined here have the definitions provided in the User Agreement.
PayitFast is a licensed Money Services Business (MSB) with FINTRAC and Retail Payment Services Provider (PSP) with the Bank of Canada. It provides payment and technology services in connection with the PayitFast Card. PayitFast is not a bank or credit union and does not itself extend credit, set interest rates or determine repayment terms. Nothing in these Card Terms shall be construed as creating a lender-borrower relationship between you and PayitFast.
You acknowledge and agree that PayitFast:
“Additional Wallet” means any additional digital asset wallet linked to your PayitFast Account and approved for use in connection with the PayitFast Card, through which additional Assets may be provided, maintained or made available as Collateral under these Card Terms.
“Assets” means the supported digital assets maintained in one or more Linked Wallets or Additional Wallets and made available as Collateral in connection with your PayitFast Card.
“Card Networks” means the payment card networks including Visa or Mastercard.
“Charge” means a payment for goods or services made to a merchant that accepts payments on the applicable Card Network.
“Chargeback” means a dispute that you initiate against a merchant for an unresolved dispute with the merchant or where a Charge is unauthorized.
“Collateral” means the Assets provided or maintained by you as security for payment of all Charges, Fees, interest and other amounts owing in connection with your PayitFast Card.
“Custodian” means Fireblocks, or another custody or wallet infrastructure provider approved by PayitFast and Rain for the holding and administration of Assets.
“Fee” means charges we impose on you for use of Services or your use of a PayitFast Card.
“Fireblocks” means Fireblocks UK INT'L Limited.
“Issuer” refers to Third National Bank, and any successor or permitted assignee that assumes responsibility as issuer of the PayitFast Card.
“Linked Wallet” means a digital asset wallet linked to your PayitFast Account and approved for use in connection with the PayitFast Card, through which Assets may be provided, maintained or made available as Collateral under these Card Terms.
“Liquidation Event” means the occurrence of any of the following:
(a) your failure to pay any amount due under these Card Terms when required;
(b) the Market Value of your Collateral falling below the level required under these Card Terms;
(c) an event of default under Section 14;
(d) suspension, cancellation or termination of your Card, Account or related services where repayment obligations remain outstanding;
(e) where liquidation is required to comply with applicable law, a regulatory requirement, court order or instruction from a governmental authority; or
(f) where reasonably required by the Issuer, Rain or PayitFast to prevent fraud, protect the security or integrity of the PayitFast Card programme, comply with applicable programme requirements or mitigate a material and reasonably identifiable risk relating to your Account, Card or Collateral.
“Market Value” means the value of the Assets in USD, as determined by Rain using the pricing sources and methodologies described in Section 3.
“Periodic Statement” means the periodic statements that reflect activity for all Cards issued to you identifying charges, fees, refunds, or other amounts owed or credited to your PayitFast Account during the time covered by that statement.
“Rain” means Signify Holdings, Inc. and its affiliates providing card issuing sponsorship, program management and settlement services for the PayitFast program.
“Supported Blockchains” means the Ethereum Blockchain, Polygon Blockchain, Optimism Blockchain, Arbitrium Blockchain and other blockchain networks which may be added at the sole discretion of the Issuer. We may update this list of Supported Blockchains at any time and at our sole discretion.
These Card Terms become effective and legally binding when you activate or create your Card by following the instructions on the PayitFast platform. You and we agree to comply with, and be bound by, this entire agreement. You should retain and carefully review these Card Terms. By creating a Card, you agree to the Arbitration Clause below as it pertains to these Card Terms, even if you do not use the Account or the Card.
By using a Card you represent and warrant in your individual capacity that:
The Issuer is identified on the back of the PayitFast Card issued to you and is responsible for funding your payments for goods and services you purchase at a merchant through your PayitFast Card and based on information provided by PayitFast. Please note that the Issuer may require you to accept additional terms or disclosures relating solely to the issuance and use of the PayitFast Card in addition to the agreements you have with PayitFast, and your use of the PayitFast Cards will then also be subject to such additional terms.
To access and use the PayitFast Card, you must provide and maintain eligible Assets as Collateral in one or more Linked Wallets or Additional Wallets in accordance with these Card Terms.
The PayitFast Card is a collateralized credit card. The credit limit available on your PayitFast Card will be determined by reference to the Market Value of your Collateral and any applicable advance rates, limits, eligibility requirements or risk parameters established by Rain, the Issuer or PayitFast from time to time. PayitFast does not itself extend credit. Credit made available through the PayitFast Card is provided by the Issuer.
You grant the Issuer, and PayitFast acting for the benefit of the Issuer where applicable, a continuing security interest in and lien over the Collateral to secure the payment and performance of all Charges, Fees, interest and other amounts and obligations arising in connection with your PayitFast Card and these Card Terms. You authorize PayitFast, Rain, the Custodian and their respective service providers to take any action reasonably necessary to hold, administer, maintain, protect or enforce that security interest, including restricting access to or liquidating all or part of the Collateral following a Liquidation Event.
The Market Value of your Collateral may fluctuate as a result of market conditions. Rain may monitor the Market Value of your Collateral on an ongoing basis for the purposes of administering the PayitFast Card programme. The Market Value will be determined by Rain using pricing sources and methodologies selected by Rain in its reasonable discretion.
You must maintain Collateral with a Market Value sufficient to support your outstanding balance and available credit at all times. You may not withdraw, transfer, sell, encumber or otherwise deal with any Collateral where doing so would cause its Market Value to fall below the level required to support your outstanding balance or available credit. Any withdrawal or transfer of Collateral does not affect any obligation already incurred under these Card Terms.
A Liquidation Event will occur in any of the circumstances set out in the definition of Liquidation Event in these Card Terms. Following a Liquidation Event, PayitFast may initiate the restriction or liquidation of all or part of your Collateral at individual user level. Rain may restrict or liquidate Collateral held or administered at the PayitFast programme or master-account level in accordance with the applicable programme arrangements. The Issuer may also restrict Card usage, reduce your available credit or take any other action permitted under these Card Terms.
You irrevocably authorize PayitFast, Rain, the Custodian and their respective service providers, without further consent from or notice to you, except where notice is required by applicable law, to convert, sell or otherwise liquidate all or part of your Collateral following a Liquidation Event and to apply the proceeds in accordance with these Card Terms.
The proceeds of any liquidation will be applied in the following order:
(a) first, to applicable blockchain, network, transaction, gas, conversion and liquidation fees and costs;
(b) second, to unpaid Charges, Fees, interest and other amounts owing in connection with your PayitFast Card;
(c) third, to any other amounts lawfully due under these Card Terms; and
(d) finally, any remaining proceeds will be returned or made available to you, subject to applicable law and any outstanding or contingent obligations.
You remain responsible for any shortfall if the proceeds obtained from liquidating the Collateral are insufficient to satisfy all amounts owing. Any shortfall will be immediately due and payable by you upon demand.
You are responsible for all blockchain, network, transaction, gas, conversion and other costs arising from the maintenance, transfer or liquidation of your Collateral. These amounts may be deducted directly from the Collateral or from the proceeds of its liquidation and will not be credited to your Account.
The price received upon liquidation may differ from the Market Value previously attributed to the Collateral due to market volatility, liquidity, slippage, network conditions, transaction costs or other factors. Neither the Issuer, Rain nor PayitFast guarantees the price, timing or proceeds of any liquidation except as required by applicable law.
Where the PayitFast Card permits settlement of a Charge using a digital asset, you expressly authorise PayitFast, Rain, the Custodian and their respective service providers to automatically convert the relevant amount of your selected or otherwise eligible digital asset into the settlement asset required for the Card transaction, without a separate instruction for each conversion. The asset selection method, estimated conversion amount, applicable rate, spread, fees and other material transaction information will be displayed or otherwise made available through the PayitFast platform where applicable.
The final rate and amount may differ from any estimate because of market movement, volatility, liquidity, slippage, execution timing, network conditions, third-party charges or rounding. A conversion completed in connection with an authorised Card transaction is final and irreversible except where required by applicable law. PayitFast does not guarantee any rate, price or execution outcome.
Subject to applicable law, and provided that all outstanding and contingent obligations relating to your PayitFast Card have been fully and finally satisfied, any remaining Collateral will be released or made available to you following the termination of your PayitFast Card and completion of final settlement.
For the avoidance of doubt, although the PayitFast Card is a collateralized credit product, the current APR applicable to purchases is 0%, and no interest is currently charged on purchases made using the PayitFast Card. No interest will be charged unless the applicable rate has been disclosed to you in advance in accordance with applicable law.
Your spending limit is generally set by PayitFast pursuant to the User Agreement and is determined by the Market Value of your Collateral. The Issuer may additionally set spending limits on each PayitFast Card or impose an aggregate spending limit across all PayitFast Cards issued to you, in its sole discretion.
Spending limits are dynamic and may be modified at any time, with or without notice, including temporary increases or decreases or a reduction of your spending limit to USD 0. Any authorized Charge, Fee or interest charged to a PayitFast Card may reduce your available spending limit by a corresponding amount.
If the Market Value of your Collateral falls below the amount required under these Card Terms, you may be required to provide additional Assets, make a payment or reduce your outstanding balance and may be subject to a Liquidation Event.
When you use your PayitFast Card at a merchant where the final transaction amount is unknown at the time of authorization, the Issuer may place an authorization hold for an amount higher or lower than the final Charge. The “hold” will reduce your spending limit until the final Charge is determined.
PayitFast may suspend or restrict access to the PayitFast platform or related services and the Issuer reserves the right to block, decline, or reverse card transactions in accordance with card network rules and applicable law, at any time and for any reason, including if we believe that you are using the Card or your Account for non-consumer purposes. You may use your Account to purchase or lease goods or services (each, a “Purchase”) by presenting your Card or providing to participating merchants and establishments that honor the Card your Card number and additional information by any other means (for example, over the phone, online or through a mobile app). We will not be liable to you (or anyone else) if any merchant or other person cannot or will not process a purchase permitted under these Card Terms. Unless prohibited by applicable law, we may from time to time limit the type, number and dollar amount of any purchase, including any cash-like transaction, even if you have sufficient available credit and the Market Value of your Collateral is sufficient to support the proposed Purchase.
Authorization of a Charge may reduce your available credit and the amount available for further Charges. You must maintain Collateral with a Market Value sufficient to support all unpaid Charges, Fees, interest and other amounts owing in connection with your PayitFast Cards in accordance with Sections 3 and 4.
Cash-like transactions include, but are not limited to, the following transactions to the extent they are accepted:
• purchasing travelers checks, foreign currency, money orders, wire transfers, cryptocurrency, other similar digital or virtual currency and other similar transactions;
• purchasing lottery tickets, casino gaming chips, racetrack wagers, and similar offline and online betting transactions;
• person-to-person money transfers and account-funding transactions that transfer currency; and
• making a payment using a third-party service including bill payment transactions not made directly with the merchant or their service provider.
We reserve the right to deny any purchase for any reason, such as account default, suspected fraudulent or unlawful activity, internet gambling, or any indication of increased risk related to the purchase. We may terminate or suspend your use of the Card or the Account, with or without notice to you before or at the time we take such action. Cash advances and balance transfers are not available under these Card Terms.
You acknowledge and agree that you have read and understood the Prohibited Activities Policy and that you will not engage in any such activities when using the Services or the PayitFast Card.
You acknowledge and agree that you will not use the PayitFast Card (1) for any expense which is not an expense incurred by you; (2) for any purpose prohibited by these Card Terms; or (3) for, with, or for the benefit of any individual or entity who is blocked or sanctioned by any Government mentioned in section 1.
You will use all reasonable means to protect your PayitFast Cards and log-in credentials to the PayitFast Account from unauthorized use. You will not allow any other person or third party to use the Services or the PayitFast Card on your behalf. You will immediately notify us where you know or suspect that access to your PayitFast Account has been compromised or your PayitFast Card has been lost, stolen, or compromised in any way.
PayitFast reserves the right to withhold, suspend, cancel or reverse any referral reward, incentive or promotional payment where it reasonably suspects fraudulent activity, abuse of the referral programme, artificial activity, self-referrals, duplicate accounts, manipulation of eligibility criteria or any activity inconsistent with the intended purpose of the programme.
Referral rewards are non-transferable, cannot be withdrawn as cash and may only be used within the PayitFast app for eligible card transactions.
PayitFast may amend, suspend or terminate the referral programme or any related eligibility criteria, rewards or conditions at any time.
PayitFast may suspend or terminate participation in the referral programme where it reasonably considers this necessary to protect the integrity of the programme, its customers or its business.
In addition to the PayitFast Card, PayitFast may make available certain additional services through the PayitFast platform. These services are provided by PayitFast and its appointed partners, and are not provided, operated or guaranteed by the Issuer, unless expressly stated otherwise (the “PayitFast Services”).
For the avoidance of doubt, the PayitFast Services are provided by PayitFast and its appointed service providers and are governed by the User Agreement and any applicable third-party terms. The Issuer is not a provider of the PayitFast Services and has no responsibility or liability for the availability, operation, performance or outcome of any PayitFast Services unless expressly stated otherwise in these Card Terms.
PayitFast may allow you to purchase digital assets using fiat currency through supported on‑ramp services providers. When you initiate an on‑ramp transaction:
PayitFast does not guarantee price execution, availability, or timing and is not responsible for market volatility affecting digital asset valuations.
PayitFast may allow you to sell digital assets and receive fiat currency through supported off‑ramp services. When you initiate an off‑ramp transaction:
PayitFast does not control blockchain network congestion or delays caused by third‑party financial institutions.
PayitFast may enable you to exchange one supported digital asset for another through swap functionality. Swaps:
You acknowledge that digital asset markets are volatile and that PayitFast does not guarantee swap pricing, availability or execution outcome.
PayitFast may provide you with access to one or more virtual fiat accounts, including accounts powered by Rail or other payment infrastructure partners, to facilitate fiat transfers, card funding, and other payment activities.
Availability, currency support and features may vary by jurisdiction.
PayitFast may allow you to initiate domestic or cross‑border fiat transfers, including remittances, using your PayitFast Account. Transfers:
PayitFast does not guarantee delivery times and is not responsible for delays caused by intermediary banks or payment networks.
Fiat funds received from you in connection with the PayitFast Services are held in accordance with applicable safeguarding and regulatory requirements as follows:
Fiat funds held in connection with the PayitFast Services:
The Issuer does not hold, safeguard or control fiat funds outside of card transaction settlement processes. For the avoidance of doubt, fiat safeguarding arrangements are separate from digital asset custody arrangements. Fiat funds are safeguarded in segregated accounts with regulated financial institutions, while digital assets are held or administered through wallet and custody infrastructure supported by Fireblocks or another approved provider and may be subject to the Collateral and liquidation arrangements described in Section 3.
While you will generally repay PayitFast for amounts transacted with your Card, you also promise to pay the Issuer or its permitted assignees for all amounts charged to the Account in connection with the PayitFast Card transactions, including all Charges, Fees, interest and other amounts owing under these Card Terms that have not been paid to the Issuer by PayitFast. Except as prohibited by applicable law, you are obligated to repay the Issuer or its permitted assignees for all transactions made using your Card by any person you have authorized to use the Card, even if their use of the Card exceeds the authority you provided.
You are responsible for payment in full of all Charges, Fees, interest and other amounts owing under these Card Terms. Your PayitFast Account may furnish to you Periodic Statements identifying Charges, Fees, refunds, the amount and Market Value of your Collateral, other Card transactions and other amounts owed or credited to your PayitFast Account. Periodic Statements may be made accessible to you on your PayitFast Account daily, monthly or as otherwise prescribed by the Issuer, applicable card network rules or PayitFast, as relevant.
You must notify us promptly if you believe that there are any errors on your Periodic Statement and submit any disputes or Chargebacks in accordance with these Card Terms. We are not obligated to send you a monthly statement if we deem your Account to be uncollectible or applicable law does not require us to send you a monthly statement for other reasons. Your failure to receive a statement will have no bearing on your obligations. PayitFast, the Custodian or another authorized third party may liquidate Collateral following a Liquidation Event in accordance with Section 3.
Where applicable, you may make a repayment for a balance on one or more of your PayitFast Cards by any means that are permitted by PayitFast and as provided in your PayitFast Account.
Any failure to pay the full amount owed to PayitFast or the Issuer, as applicable, when required is a breach of these Card Terms. You are responsible for all costs and expenses reasonably incurred in collecting overdue amounts, including legal fees, collection costs and any interest that may lawfully become applicable following prior disclosure in accordance with applicable law.
For clarity, the current APR applicable to purchases is 0%, and no interest is currently charged on purchases made using the PayitFast Card. No interest will be charged unless the applicable rate has been disclosed to you in advance in accordance with applicable law.
At any time and where applicable, you may pay all or any part of your outstanding Account balance, without penalty. Payment of more than the payment due in one billing cycle will not relieve you of the obligation to pay the entire payment due in subsequent billing cycles.
Where physical Cards are available, you may request a physical Card through the PayitFast platform. Before confirming an order, the applicable card issuance or order fee, delivery charge, available shipping method and any other material charge will be disclosed to you. You authorise PayitFast to debit those amounts from your selected eligible balance or payment method when you confirm the order. Unless required by applicable law, fees already incurred in producing or dispatching a personalised physical Card are non-refundable.
You are responsible for providing complete and accurate billing and delivery information and for ensuring that an authorised person can receive the Card. Delivery dates are estimates only. Neither the Issuer nor PayitFast is responsible for delay, failed delivery or loss caused by an incorrect or incomplete address, the carrier, customs, events outside reasonable control or your failure to receive the Card, except to the extent required by applicable law. You must notify PayitFast promptly if a Card is not received, arrives damaged or appears to have been intercepted.
You must activate the physical Card using the method made available through the PayitFast platform before use. The Card remains subject to activation, identity, compliance, security, programme and availability checks, and the Issuer or PayitFast may refuse, delay, cancel or require replacement of an order where reasonably necessary for those purposes.
We or PayitFast may decide not to grant requests for PayitFast Cards or limit the number of physical or virtual PayitFast Cards provided to you.
You are responsible for securing PayitFast Cards, account numbers, and PayitFast Card security features. You will promptly notify us and take appropriate measures to prevent unauthorized transactions when a PayitFast Card is lost, stolen, breached, or needs to be replaced. In such cases, you may request the issuance of replacement PayitFast Cards through your PayitFast Account. Replacement Cards may have new account numbers that could require you to update the PayitFast Card on file for any scheduled or recurring payments. You are solely responsible for updating PayitFast Card information stored with merchants where account numbers have been changed.
You agree to establish and maintain controls designed to ensure that the PayitFast Cards are only used by you and your permitted authorized users for bona fide purposes and in compliance with these Card Terms, any Issuer terms, and applicable law. You are responsible for Charges and transactions made by any person given access to PayitFast Cards even if they are not the person associated with or named on the PayitFast Card.
PayitFast, the Issuer, Card Networks, or other intermediary third-party service providers (including merchant acquirers) may deny or reverse Charges for any reason. The Issuer is not responsible for any losses, damages, or harm caused by any Charges that are denied or reversed.
If your Card is lost or stolen or if you think someone may be using your Card or Account without your permission, you must notify us promptly by emailing us at support@payitfast.com or calling us at +17788061367. You will not be liable for any unauthorized use that occurs after you notify us. You may, however, be liable for unauthorized use that occurs before receipt of your notice by us. You have an obligation to assist us in our investigation if your PayitFast Card is lost or stolen or you believe someone is using your PayitFast Card or your PayitFast Account without your permission.
It is important to note that the card is marketed to you by BANEX MICROFINANCE BANK LIMITED (BANEX), a financial institution licensed by the Central Bank of Nigeria (CBN). Additionally, BANEX will be responsible for ensuring that the card meets all the requirements of the CBN (including but not limited to filing requisite returns with the CBN) and other Nigerian laws, and continues to operate within the bounds of the applicable laws. BANEX will also be responsible for ensuring that your personal data is processed in compliance with the Nigeria Data Protection Act and any other applicable data protection laws. Notwithstanding the foregoing, any complaint should be sent to Silverleaf E-Money Services Limited dba PayitFast and it will be responsible for providing customer service support.
You are responsible for reviewing your Periodic Statements promptly and identifying any Charges that you believe are unauthorized or that you dispute.
If you and a merchant have a dispute regarding a Charge identified on your Periodic Statement, such as delivery of incorrect goods or services or being charged the wrong amount, you should first attempt to resolve the dispute with the merchant. If the dispute is not resolved to your satisfaction or if you believe the Charge is unauthorized, you may initiate a Chargeback through your PayitFast Account. You must report any disputed Charge or error no more than 60 days after the disputed Charge is posted on your Periodic Statement. We may require additional details on the transaction and our review of your disputed Charge will be conditioned on you providing all of the information we may require to review the disputed Charge.
You understand that the PayitFast Card is subject to Card Network rules regarding chargebacks. The Card Networks have additional established procedures for resolving chargebacks that may require you to provide further details of the disputed Charge or associated documentation.
Charges relating to disputed Charges and Chargebacks that are pending resolution may still be due and owing as of the date that payment is due as provided in the applicable Periodic Statement. Chargebacks resolved in your favor will be credited to your PayitFast Account on either the current or a future Periodic Statement. We may impose Fees, reduce your spending limits, or suspend access to your PayitFast Account or the Services if you fail to pay Charges relating to Chargebacks that are pending resolution on the payment date.
Subject to applicable law, we may suspend, revoke or cancel your Account privileges, your right to use the Card or deny any transaction, in our sole discretion at any time, with or without cause and with or without giving you notice. Any termination of credit privileges, whether initiated by us or by you, will not affect any of our rights or your obligations under these Card Terms, including your obligation to repay any amounts you owe us or any rights relating to the Collateral or a Liquidation Event arising before or after termination in respect of outstanding amounts. On our demand or upon termination of credit privileges, you agree to surrender to us or destroy the Card. If you attempt to use the Card after the termination of credit privileges (whether or not we have provided notice of such termination), the Card may be retained by a merchant, ATM or financial institution where you attempt to use the Card.
Subject to applicable law, the Issuer or PayitFast may suspend, close or decline to renew a Card that has remained inactive for a prolonged period, where reasonably required for security, fraud prevention, programme management or operational reasons. Where required by applicable law, notice will be provided before closure. Closure of a dormant Card does not affect any outstanding Charge, Fee, repayment obligation, dispute, Collateral right or other accrued right or obligation.
Subject to applicable law, we may at any time change, add to or delete terms and conditions of these Card Terms, including interest rates and this Change of Terms provision. Such changes may be based on our anti-fraud policies and procedures, your level of compliance with these Card Terms, prevailing economic conditions and/or any other factors. We will give you notice of any change, addition or deletion as required by applicable law. As of the effective date, the changed terms, at our option, will apply to new purchases and the outstanding balances of your Account, to the extent permitted by applicable law.
We may consider you in default of these Card Terms if:
In the event of your default under these Card Terms, we may, subject to applicable law: (a) declare all or any portion of your outstanding Account balance immediately due and payable; (b) permit repayment through minimum payments without waiving our rights; (c) commence collection proceedings and recover applicable court costs and reasonable legal fees; and/or (d) exercise any rights relating to the Collateral, including restricting access to Collateral, requiring additional Collateral, liquidating all or part of the Collateral or initiating a Liquidation Event in accordance with Section 3.
Where permitted by applicable law and following any required disclosures, interest may accrue on outstanding amounts following an event of default. For clarity, the current APR applicable to purchases is 0%, and no interest is currently charged on purchases made using the PayitFast Card. No interest will be charged unless the applicable rate has been disclosed to you in advance in accordance with applicable law.
We may at any time and in our sole discretion delay or waive enforcing any of our rights or remedies under these Card Terms or under applicable law without losing any of those or any other rights or remedies. Even if we do not enforce our rights or remedies at any one time, we may enforce them at a later date. For example, we may accept late payments without losing any of our rights under these Card Terms.
You authorize PayitFast, the Issuer and their respective affiliates, agents, permitted assigns and service providers (collectively, the “Messaging Parties”) to use automatic telephone dialing systems, artificial or prerecorded voice message systems, text messaging systems and automated email systems to deliver messages relating to these Card Terms, your Account, or your relationship with the Messaging Parties more generally (including but not limited to: messages about upcoming payment due dates, missed payments and returned payments) to any telephone number(s) you provide to the Messaging Parties. You also agree that these messages may deliver prerecorded and/or artificial voice messages. You understand that telephone messages may be played by a machine automatically when the telephone is answered, whether answered by you or someone else, and that these messages may also be recorded by your answering machine. You also authorize the Messaging Parties to deliver messages to you via mail or email at any addresses you supply to them or that they obtain through any legal means.
By accepting these Card Terms or using your Card, you acknowledge that you have received, reviewed, and agree to be bound by the Issuer's E-Sign & Electronic Communications Notice (the “E-Sign Notice”), which is incorporated herein by reference. You consent to receive all disclosures, notices, agreements, and other communications from the Issuer and the Messaging Parties in electronic form, in accordance with the E-Sign Notice. You agree that such electronic communications satisfy any legal requirement that such communications be in writing. The E-Sign Notice may be amended by the Issuer from time to time, and your continued use of the Card after any such amendment constitutes your acceptance of the amended E-Sign Notice.
You understand that anyone with access to your mail, telephone or email account may listen to or read the messages the Messaging Parties leave or send you, and you agree that the Messaging Parties will have no liability for anyone accessing such messages. You further understand that, when you receive a telephone call, text message or email, you may incur a charge from the company that provides you with telecommunications, wireless and/or internet services, and you agree that the Messaging Parties will have no liability for such charges except to the extent required by applicable law. You expressly authorize the Messaging Parties to monitor and record your calls with the Messaging Parties. If any telephone number you have provided to the Messaging Parties changes, or if you cease to be the owner, subscriber, or primary user of any such telephone number, you agree to immediately give notice to the Messaging Party who delivered the messages of such facts so that the Messaging Party can update its records.
This authorization is part of our bargain concerning these Card Terms, and we do not intend it to be revocable. However, to the extent you have the right to revoke your consent to communications by autodialed calls and text messages to your mobile number under applicable law, you may exercise this right by contacting the applicable Messaging Party directly or by sending a request by email to support@payitfast.com with the subject line “END COMMUNICATIONS.” You may opt-out of receiving most of these messages at any time by sending us a request to support@payitfast.com or by responding “STOP” to any text message. To stop emails only, you can follow the opt-out instructions included at the bottom of the Messaging Parties' emails.
These Card Terms will be interpreted in accordance with the laws of Puerto Rico without regard to conflict-of-law provisions. Judicial proceedings (other than small claims actions) that are excluded from the Arbitration in Section 18 must be brought in state or federal court in Puerto Rico, unless we both agree in writing to some other location, and you hereby consent to the venue and personal jurisdiction of such court.
PLEASE READ THIS "DISPUTE RESOLUTION AND ARBITRATION" PROVISION VERY CAREFULLY. IT LIMITS YOUR RIGHTS IN THE EVENT OF A DISPUTE BETWEEN YOU AND THE ISSUER. PAYITFAST IS THE TECHNOLOGY PROVIDER FOR THE CARD BUT IS NOT THE ISSUER, CREDITOR OR LENDER. PAYITFAST IS NOT A PARTY TO THESE CARD TERMS AND HAS NO LIABILITY FOR THE ISSUER'S OBLIGATIONS UNDER IT. HOWEVER, PAYITFAST IS AN EXPRESS THIRD-PARTY BENEFICIARY OF THESE CARD TERMS WITH RESPECT TO ANY PROVISIONS THAT ALLOCATE RISK, DISCLAIM LIABILITY, LIMIT REMEDIES OR REQUIRE DISPUTES TO BE RESOLVED THROUGH ARBITRATION. ACCORDINGLY, TO THE EXTENT A DISPUTE INVOLVES PAYITFAST, PAYITFAST SHALL BE ENTITLED TO INVOKE AND BENEFIT FROM THE SAME PROTECTIONS, LIMITATIONS AND DISPUTE RESOLUTION PROCEDURES AS THE ISSUER. ANY DISPUTE YOU MAY HAVE WITH PAYITFAST RELATING SOLELY TO SERVICES PROVIDED UNDER THE USER AGREEMENT, THAT DISPUTE WILL BE GOVERNED EXCLUSIVELY BY THE USER AGREEMENT.
(a) You and the Issuer agree that any and all past, present and future Disputes (defined below) shall be determined by arbitration, unless your Dispute is subject to an exception to this agreement to arbitrate set forth below. You and the Issuer further agree that any arbitration pursuant to this section shall not proceed as a class, group or representative action. The award of the arbitrator may be entered in any court having jurisdiction. “Dispute” means any dispute, claim, or controversy between you and the Issuer that arises out of or relates to (i) these Card Terms (including any addenda hereto or other terms incorporated herein by reference), (ii) the breach, termination, enforcement, interpretation or validity hereof, including the determination of the scope or applicability of the agreement to arbitrate hereunder, or (iii) any Services (including, without limitation, the PayitFast Card).
(b) This agreement to arbitrate shall be construed under and be subject to the Federal Arbitration Act, notwithstanding any other choice of law set out in these Card Terms.
(a) Before filing a claim against the Issuer, you agree to try to resolve the Dispute informally by providing written notice to the Issuer of the actual or potential Dispute. Similarly, the Issuer will provide written notice to you of any actual or potential Dispute to endeavor to resolve any claim we may possess informally before taking any formal action. The party that provides the notice of the actual or potential Dispute (the "Notifying Party") will include in that notice (a "Notice of Dispute") your name, the Notifying Party's contact information for any communications relating to such Dispute, and sufficient details regarding such Dispute to enable the other party (the "Notified Party") to understand the basis of and evaluate the concerns raised. If the Notified Party responds within ten (10) business days after receiving the Notice of Dispute that it is ready and willing to engage in good faith discussions in an effort to resolve the Dispute informally, then each party shall promptly participate in such discussions in good faith.
(b) If, notwithstanding the Notifying Party's compliance with all of its obligations under the preceding paragraph, a Dispute is not resolved within thirty (30) days after the Notice of Dispute is sent (or if the Notified Party fails to respond to the Notice of Dispute within ten (10) business days), the Notifying Party may initiate an arbitration proceeding as described below. If either party purports to initiate arbitration without first providing a Notice of Dispute and otherwise complying with all of its obligations under the preceding paragraph, then, notwithstanding any other provision of these Card Terms, the arbitrator(s) will promptly dismiss the claim with prejudice and will award the other party all of its costs and expenses (including, without limitation, reasonable attorneys' fees) incurred in connection with such Dispute.
(c) You and the Issuer each agree to resolve any Disputes that are not resolved informally as described above through final and binding arbitration as discussed herein. You and the Issuer agree that the American Arbitration Association ("AAA") will administer the arbitration under its Consumer Arbitration Rules (the "Rules"). The Rules are available at www.adr.org or by calling the AAA at 1-800-778-7879. A party who desires to initiate arbitration must provide the other party with a written Demand for Arbitration as specified in the AAA Rules. (The AAA provides a general Demand for Arbitration.) Arbitration will proceed on an individual basis and will be handled by a sole arbitrator. The single arbitrator will be either a retired judge or an attorney licensed to practice law and will be selected by the parties from the AAA's roster of arbitrators. If the parties are unable to agree upon an arbitrator within fourteen (14) days of delivery of the Demand for Arbitration, then the AAA will appoint the arbitrator in accordance with the AAA Rules. The arbitrator(s) shall be authorized to award any remedies, including injunctive relief, that would be available to you in an individual lawsuit, subject to any effective and enforceable limitations of liability or exclusions of remedies set forth herein. Notwithstanding any language to the contrary in this paragraph, if a party seeks injunctive relief that would significantly impact other Issuer users as reasonably determined by either party, the parties agree that such arbitration will proceed on an individual basis but will be handled by a panel of three (3) arbitrators. Each party shall select one arbitrator, and the two party-selected arbitrators shall select the third, who shall serve as chair of the arbitral panel. That chairperson shall be a retired judge or an attorney licensed to practice law and with experience arbitrating or mediating disputes. In the event of disagreement as to whether the threshold for a three-arbitrator panel has been met, the sole arbitrator appointed in accordance with this Section shall make that determination. If the arbitrator determines a three-person panel is appropriate, the arbitrator may -- if selected by either party or as the chair by the two party-selected arbitrators -- participate in the arbitral panel. Except as and to the extent otherwise may be required by law, the arbitration proceeding and any award shall be confidential.
(d) You and the Issuer further agree that the arbitration will be held in the English language in New York, New York, or, if you so elect, all proceedings can be conducted via videoconference, telephonically or via other remote electronic means.
(e) Filing costs and administrative fees shall be paid in accordance with the AAA Rules; provided that the prevailing party will be entitled to recover its reasonable attorneys' fees, expert witness fees, and out-of-pocket costs incurred in connection with the arbitration proceeding, in addition to any other relief it may be awarded.
(f) You and the Issuer agree that, notwithstanding anything to the contrary in the Rules, the arbitration of any Dispute shall proceed on an individual basis, and neither you nor the Issuer may bring a claim as a part of a class, group, collective, coordinated, consolidated or mass arbitration (each, a "Collective Arbitration"). Without limiting the generality of the foregoing, a claim to resolve any Dispute against the Issuer will be deemed a Collective Arbitration if (i) two (2) or more similar claims for arbitration are filed concurrently by or on behalf of one or more claimants; and (ii) counsel for the claimants are the same, share fees or coordinate across the arbitrations. "Concurrently" for purposes of this provision means that both arbitrations are pending (filed but not yet resolved) at the same time.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER YOU NOR THE ISSUER SHALL BE ENTITLED TO CONSOLIDATE, JOIN OR COORDINATE DISPUTES BY OR AGAINST OTHER INDIVIDUALS OR ENTITIES, OR ARBITRATE OR LITIGATE ANY DISPUTE IN A REPRESENTATIVE CAPACITY, INCLUDING AS A REPRESENTATIVE MEMBER OF A CLASS OR IN A PRIVATE ATTORNEY GENERAL CAPACITY. IN CONNECTION WITH ANY DISPUTE, ANY AND ALL SUCH RIGHTS ARE HEREBY EXPRESSLY AND UNCONDITIONALLY WAIVED. Without limiting the foregoing, any challenge to the validity of this paragraph shall be determined exclusively by the arbitrator.
Notwithstanding your and the Issuer's agreement to arbitrate Disputes, you and the Issuer retain the right to bring an individual action in small claims court.
To the extent applicable law permits, any dispute arising out of or relating to these Card Terms, whether in arbitration or in court, will be conducted only on an individual basis and not in a class, consolidated or representative action. Notwithstanding any other provision of these Card Terms or the AAA Rules, disputes regarding the interpretation, applicability, or enforceability of this class waiver may be resolved only by a court and not by an arbitrator. If this waiver of class or consolidated actions is deemed invalid or unenforceable, neither party is entitled to arbitration.
If for any reason a claim or dispute proceeds in court rather than through arbitration, each party knowingly and irrevocably waives any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to these Card Terms.
Except as otherwise required by applicable law or provided in these Card Terms, in the event that the agreement to arbitrate is found not to apply to you or your Dispute, you and the Issuer agree that any judicial proceeding may only be brought in a court of competent jurisdiction in Puerto Rico. Both you and the Issuer irrevocably consent to venue and personal jurisdiction in Puerto Rico; provided that either party may bring any action to confirm an arbitral award in any court having jurisdiction.
The existence of all information regarding any Dispute will be held in strict confidence by the parties and will not be disclosed by either party except as reasonably necessary in connection with the conduct of the arbitration or the confirmation or enforcement of any arbitral award. Any such permitted disclosure will, to the maximum extent reasonably practicable, be made subject to obligations of confidentiality at least as stringent as the provisions of this paragraph. If any disclosure of information regarding any Dispute is required under applicable law, the parties shall reasonably cooperate with one another to obtain protective orders or otherwise to preserve the confidentiality of such information.
The following provisions of these Card Terms shall survive any termination or expiration of these Card Terms and shall remain in full force and effect until all of your obligations to us have been fully and finally satisfied: (a) all of your payment obligations and our right to collect all amounts owed by you; (b) all security interest, Collateral, set-off and Liquidation Event provisions, including all rights and remedies relating to the Collateral; (c) any indemnification obligations; (d) the limitation of liability provisions; (e) the disclaimer of warranties provisions; (f) the dispute resolution and arbitration provisions, including the class waiver; (g) our communications and contact rights; (h) our assignment rights; (i) any waiver provisions; (j) all representations and warranties made by you; (k) any accrued rights, remedies, or causes of action in favor of either party; and (l) any other provision that by its nature or express terms is intended to survive.
If any provision of these Card Terms is found to be invalid, illegal, or unenforceable by a court or arbitrator of competent jurisdiction, such provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving its intent, or if such modification is not possible, such provision shall be severed from these Card Terms. The remaining provisions shall remain in full force and effect.
Notwithstanding the foregoing paragraph, in the event that a court finds the prohibition of Collective Arbitration in Section 18 to be invalid or unenforceable, then all provisions in Section 18 shall be deemed void, except for any portion of any provision in Section 18 related to the resolution of Disputes through litigation in court.
These Card Terms will be binding on, and benefit, any of your and our successors and assigns. You may not transfer your Account or your Agreement to someone else without our written permission. We may transfer your Account, these Card Terms, or any of our rights or obligations therein, to another company or person at any time, without your permission and without prior notice to you. If we do, they will take our place under these Card Terms. You must pay them and perform all of your obligations to them and not us. If you pay us after you are informed or learn that we have transferred your Account or this Agreement, we can handle your payment in any way we think is reasonable. This includes returning the payment to you or forwarding the payment to the other company or person.
These Card Terms constitute the entire agreement between you and the Issuer regarding the subject matter hereof and supersede all prior or contemporaneous agreements, understandings, representations, and communications whether written or oral, regarding such subject matter.
We shall not be liable for any delay or failure to perform any obligation under these Card Terms to the extent that such delay or failure is caused by circumstances beyond our reasonable control, including but not limited to acts of God, natural disasters, war, terrorism, civil unrest, labor disputes, government actions, epidemics or pandemics, internet or telecommunications failures, or failures of third-party service providers.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, RELIABILITY, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE ISSUER, ITS AFFILIATES, OR ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, SERVICE PROVIDERS, OR LICENSORS BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, PUNITIVE, OR OTHER SIMILAR DAMAGES, INCLUDING BUT NOT LIMITED TO LOST PROFITS, LOST REVENUE, LOST DATA, LOSS OF GOODWILL, BUSINESS INTERRUPTION, OR LOSS OF BUSINESS OPPORTUNITY, WHETHER ARISING IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE.
IN NO EVENT SHALL THE ISSUER'S TOTAL LIABILITY TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR YOUR ACCOUNT EXCEED THE LESSER OF (A) YOUR ACTUAL DIRECT DAMAGES PROVEN OR (B) THE TOTAL AMOUNTS PAID BY YOU IN THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM.
You will indemnify and defend the Issuer, its affiliates, and its partners, directors, officers, employees, agents, trustees, administrators, managers, advisors, and representatives (each an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all claims, litigation, investigations, proceedings, losses, damages, fines, penalties, liabilities, settlements, costs, fees, and expenses incurred by any Indemnitee or asserted against any Indemnitee by any person arising out of, in connection with, related to, or as a result of your (i) breach of any of the representations, warranties, or covenants contained in these Card Terms; or (ii) gross negligence, fraud, or violation of any applicable law or rights of any third-party. The Issuer may defend any claim subject to indemnification hereunder, using counsel of its choice, and you will pay or promptly reimburse the Issuer for the reasonable fees of such counsel and all related costs and reasonable expenses. If you are a user from a jurisdiction that does not allow certain indemnification obligations, you agree that this indemnity is intended to be as broad as permitted under the laws of such jurisdiction.
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