OKPAY Card Terms and Conditions

OKPAY cards are issued as joint product with the www.mayzusfs.com company.

The enclosed card is issued by CSC24seven.eu Limited, which is licensed as a financial institution to issue cards. Their use shall be subject to the following terms and conditions.

1. Definitions

1.1 In this text "CSC" means CSC24seven.eu Limited, a company registered in Cyprus with registration number 143641 having its registered office at 23 Zachariadhes Court, 15 Nicodemou Mylona Street, Larnaca 6010, Cyprus, operating as an electronic money institution under license from the Central Bank of Cyprus and it includes its Successors, Assigns, and Assignees.

"Card" means the e-money card which is issued by CSC to the Cardholder.

"Mayzus FS" means Mayzus Financial Services Limited, a company registered in the United Kingdom, with Companies House registration number 06721866, having its registered office at 869 High Road, London, N12 8QA, UK.

"OKPAY Card" is a MasterCard approved programme for issuance by CSC to Mayzus FS consumers.

"Cardholder" means the person for whose use the Card is issued by CSC and in whose name the Card Account is held.

"Card Account" means the e-money account maintained with CSC to enable Card Transactions to be effected.

"Card Agreement" means the agreement between CSC and the Cardholder, and includes these terms and conditions.

"Card Transaction" means the purchase of goods and/or obtaining of services through the use of the Card including use at the electronic payment systems at a point of sale (POS) and generally all the facilities and/or services which CSC offers and/or will offer in the future either through its staff or through Automated Teller Machines (ATMs), computer systems and/or the Internet to the Cardholder with the use of the Card.

"PIN" means the Personal Identification Number notified by CSC to the Cardholder which is necessary for the use of the Card for Card Transactions.

"The Website" means the website at the domain www.mayzusfs.com.

2. Operation of Card Account

2.1 CSC will debit the Card Account with the amounts of all Card Transactions effected.

2.2 When CSC authorizes Card Transactions, it may take into consideration any other transactions which have been made or authorized by CSC, irrespective of whether such transactions have been debited to the Card Account or not.

2.3 The Cardholder shall remain liable for the payment of all amounts debited to the Card Account, irrespective of whether a sale voucher has been signed or not or whether cash has been withdrawn.

2.4 The Card may be used up to the maximum limit, which appears in these Terms and Conditions, or up to any other limit in force from time to time as shall be notified to the Cardholder. Further, for security purposes CSC may impose transaction limits.

2.5 The Cardholder is not entitled to use the Card in excess of the available balance of the Card Account. If for any reason the Cardholder exceeds the available balance of the Card Account, the Cardholder shall be obliged, upon demand by CSC, to cover the excess amount plus interest and/or other charges in accordance with the terms and conditions of use of the Card Account.

2.6 If a merchant issues a credit voucher in respect of a Card transaction, CSC will credit the Card Account with the amount shown to be due on the credit voucher. Otherwise, the sums stated on the sale receipts shall be fully payable and no claim of the Cardholder against the merchant may be the subject of a set-off or counter claim against CSC.

2.7 A payment made with a Card cannot be stopped.

2.8 CSC shall not be liable in the event that the Card is not accepted by a merchant or if for any reason the ATM's are out of order or if for any reason a Card Transaction is not accepted by the ATM's or POS or any other means.

3. Statement of Account

3.1 CSC will make available to the Cardholder upon request through www.mayzusfs.com a statement of the Card Account to the email address that has been notified to CSC.

3.2 The Cardholder agrees to check in detail the statement of the Card Account. In the event that the Cardholder does not agree with any Card Transaction, CSC must be informed within one month from the date on which the transaction was entered into the Card Account, otherwise the Cardholder will be deemed to have agreed with the transaction.

4. Fees, Expenses, and Charges

4.1 CSC has the right to debit the Card Account with charges, commissions, and fees such as the amount of any initial and annual subscription fees, cash disbursement fees from ATMs, card reproduction/replacement fees, PIN reproduction fees, commissions and fees for transactions in foreign currency, etc., as they appear on the table of "Fees and Charges", a copy of which is provided to the Cardholder and/or is available on the Website. In the event of review of any of the above charges, commissions and fees, the reviewed table of "Card Charges" shall be available at the CSC's registered office and shall simultaneously appear on the Website or shall be notified to the Cardholder in any other way. The Cardholder agrees to visit the Website or visit CSC's offices or contact CSC at least once a month in order to obtain a copy of the amended table of "Card Charges".

4.2 When the Card is used for currencies other than the currency of the Card Account, the amounts are converted into the currency of the Card Account using the exchange rate plus a fee, which is calculated on the Card Transaction amount. The conversion exchange rate may differ from the rate prevailing on the date of the Card Transaction.

5. CSC's Obligations

5.1 CSC shall not disclose the PIN except to the Cardholder for whose use it has been issued.

5.2 CSC shall not dispatch to the Cardholder any Card that has not been requested unless in replacement of the Card he already possesses.

5.3 CSC shall maintain for a reasonable period of time internal records in order to trace any transactions made through the use of the Card and/or PIN and rectify any errors, provided that CSC shall not maintain records of any sale receipts of merchants concerning Card Transactions.

6. Cardholder's Obligations

6.1 The Cardholder must use the Card in accordance with these terms and conditions and any amendment thereof.

6.2 The Card is delivered to the Cardholder in an inactive state. The Cardholder must take all reasonable steps to keep the Card and PIN safe and prevent their fraudulent use, and in particular:

(a) must sign the Card with a ballpoint pen as soon as he receives it

(b) must memorize the PIN and delete any reference thereto immediately upon its receipt and prior to card activation

(c) must not allow any third person to use his Card and/or PIN

(d) must not disclose the PIN to any third person

(e) must not write down the PIN on the Card or on any item which the Cardholder keeps or carries with the Card

6.3 The Cardholder must notify CSC without delay after becoming aware of:

(a) (i) the delay in receiving the Card and/or PIN; (ii) the loss or theft of the Card and/or PIN; (iii) the possibility that the Card and/or PIN are exposed to misuse; (iv) the possibility that the PIN is known by a third person

(b) any unauthorized transaction entered in the Card Account

(c) any error or other irregularity in relation to the operation of the Card Account by the Bank.

6.4 Any notification under term 6.3 must be given to CSC: (i) by email at IFS@CSC24Seven.com; or (ii) by telephone to our 24-hour Card Cancellation Center at the following number (International): +96 1 1 744 962. If any of the events under term 6.3 occur, the Cardholder must provide CSC with all the information in his knowledge in relation to the event and return the Card to CSC immediately, having cut it horizontally on the embossed numbers. The Cardholder must take all steps considered necessary by CSC for the prevention of any further damage and CSC is entitled to provide the Police with any relevant information.

7. Cardholder's Liability

7.1 In the event that the Card and/or PIN are lost or stolen or otherwise exposed to misuse, prior to notifying CSC of such loss or theft or exposure to misuse, the Cardholder shall be liable for damages up to the sum of EUR 170. Provided that in the event that fraudulently, with intent and/or due to gross negligence, the Cardholder has not complied with any of the terms 6.1 to 6.4 above, the Cardholder shall bear all the losses related to unauthorized transactions and/or be liable for damages up to any amount. Provided that the Cardholder shall bear all the losses related to unauthorized transactions and/or be liable for any damages sustained as a result of the use of the Card and/or PIN by any person who obtained possession or control of them with the express or implied consent of the Cardholder or where the Cardholder acted fraudulently or with gross negligence.

8. CSC's Liability

8.1 Subject to terms 6.1 to 6.4 and 7 above, CSC shall be liable for the non-execution or the incorrect execution of Card Transactions made through ATMs provided that it has received the Cardholder's complete and accurate instructions for their execution.

8.2 Subject to terms 6.1 to 6.4 and 7 above, CSC shall be liable for Card Transactions executed without the Cardholder's authorization as well as for any error or irregularity attributable to CSC during the operation of the Card Account.

8.3 CSC's liability referred to in terms 8.1 and 8.2 extends to the amount of the Card Transaction not executed or incorrectly executed as well as to the sum required to restore the Cardholder to his position prior to the execution of the unauthorized Card Transaction. Otherwise, to the maximum extent permitted by law, CSC shall not be liable for any loss or damage that results from the theft or loss of the Card, fraudulent use of the Card Account, or any other non-authorized use of the Card and/or Card Account. CSC shall not, under any circumstances, be liable for any indirect or consequential loss or damages such as lost profits or damage to reputation.

9. Blocking

9.1 CSC reserves the right to block the Card for objectively justified reasons related to the security of the Card, the suspicion of unauthorized or fraudulent use of the Card. In such cases CSC shall endeavour to inform the Cardholder of the blocking of the Card and the reasons for, where possible, before the Card is blocked and at the latest immediately thereafter, unless giving such information would compromise objectively justified security reasons or is prohibited by other relevant Community or national legislation.

10. Refunds

10.1 The Cardholder shall be entitled to a refund from CSC of an authorized Card Transaction initiated by or through a payee which has already been executed, if the following conditions are met: (a) the authorization did not specify the exact amount of the Card Transaction when the authorization was made; and(b) the amount of the Card Transaction exceeded the amount the Cardholder could reasonably have expected taking into account his previous spending pattern, the conditions in Card Agreement, and relevant circumstances of the case.

11. Termination

11.1 The Card remains at all times the property of CSC and the Cardholder must return it immediately upon request by CSC.

11.2 The Cardholder may, at any time and without notice, terminate the Card Agreement by surrendering the Card to CSC without this affecting the Cardholder's liability in respect of any Card Transaction prior to termination. Provided that in such event any additional Card shall automatically be cancelled. In such an event, CSC has the right to maintain the Card Account open for a period of 45 days from the date that the Card has been returned to CSC.

11.3 CSC may at any time and without notice, cancel or refuse to reissue or renew or replace any Card, without effecting in any way the Cardholder's liability for any previous Card Transaction.

12. Regulation and Settlement of Disputes

12.1 CSC is licensed as an electronic money institution by the Central Bank of Cyprus (Central Bank of Cyprus, Postal Address: 80, Kennedy Avenue, Cy-1076 Lefkosia, Cyprus; www.centralbank.gov.cy).

12.2 Any complaints made by the Cardholder to CSC shall be resolved as soon as possible after receipt. If the Cardholder is not satisfied by the proposed resolution and/or a dispute cannot otherwise be resolved between the parties, the matter may be referred in writing to the Central Bank of Cyprus for investigation and resolution. Such referrals may be made by a written application by CSC or the Cardholder stating all particulars relating to the case.

13. Miscellaneous

13.1 CSC reserves the right to introduce or withdraw any schemes for the use of the Card and to notify the Cardholder of such schemes in any way it decides.

13.2 Any notice or dispatch of a Card by CSC to the Cardholder will be considered as delivered to the Cardholder if it has been sent or mailed to the address completed on the application form for the issue of the Card. In the event of a change in address, the Cardholder must notify CSC in writing immediately.

13.3 The language of the Card Agreement and all communications between CSC and the Cardholder shall be English unless otherwise agreed between the parties.

13.4 CSC may at any time and at its absolute discretion amend the terms and conditions of the Card Agreement upon providing one month notice to the Cardholder. Upon receipt of such notification either through the post or through the Internet or in any other way, the Cardholder shall be deemed to have accepted the terms if he has not withdrawn within the one month period. The Cardholder agrees to visit the Website www.mayzusfs.com at least once a month in order to obtain a copy of these terms and conditions in the event that they have been amended. The Cardholder must ensure that the additional Cardholder accepts and fully complies with the aforesaid terms and conditions and any amendment thereof.

13.5 It is understood that CSC has the absolute right to set-off, without any prior notice to the Cardholder, the amounts outstanding from the use of the Card and/or of any legal expenses with any amounts in any of the Cardholder's accounts with CSC.

13.6 The present application is governed by the Laws of the Republic of Cyprus and is subject to the jurisdiction of the Courts of the Republic of Cyprus.