Transact Payments Malta Limited
PREPAID CORPORATE OWNED FUNDS CARD
TERMS AND CONDITIONS OF USE

Effective date 01.11.2021

These terms and conditions of use (“Terms”), and the provisions of the schedule (“Schedule”), in relation with
the use of the prepaid Card issued by Transact Payments Malta Limited (collectively the “Agreement”)
constitute a binding agreement between You and Transact Payments Malta Limited.

These Terms govern the use of your Card when used as a virtual Card or when used, where applicable and
permitted, via Mobile Payments. Your Device provider, your Wireless Carrier, and other third-party services or
websites incorporated into the Mobile Payments Service may have their own terms and conditions and privacy
policies (“Third Party Agreements”). You are also subject to those Third-Party Agreements when you give
them your personal information, use their services or visit their respective websites.

"You" and "Your" means the "Contract Holder" of the Card and as applicable, the Card User on the Contract
Holder’s behalf. "We", "Our" or “Us” means Transact Payments Malta Limited, a company incorporated in
Malta with registered address Vault 14, Level 2, Valletta Waterfront, Floriana FRN 1914 and company
registration number 91879 and authorised by the Malta Financial Services Authority as an electronic money
institution (“TPML”) or Astat on Our behalf.

You will be asked to confirm Your acceptance of this Agreement when You apply for Cards via the Corporate
Account Platform. If You refuse to accept this Agreement then We will not be able to complete Your order for
Cards. The Agreement will be governed by the Terms and Schedule in force as displayed on the Astat App
and the Corporate Account Platform.  

Please read the Terms and Schedule carefully and retain a copy for future reference.

1. Definitions and interpretation

Account means the electronic money account associated with the Card.

Applicable Law means any applicable law (including but not limited to, any local law of the jurisdictions into
which the Card is provided and the Program is operated), statute, statutory instrument, act, regulation, rule,
order,   supervisory   guidance,   policy,   instruction   or   requirement   stipulated   by   an   applicable Regulatory
Authority, or interpretation promulgated or published by any Regulatory Authority, any order issued by a court
having jurisdiction over a party, or any applicable rule or requirement of any Card Scheme related to the
issuance, sale, authorisation or usage of the Card and/or services to be provided under this Agreement or
such other rule as deemed valid by TPML from time to time.

Astat means Astat AS, incorporated and registered in Norway with company registration number 925 895 431
and registered office at  Kirkegata 8, 3016 Drammen, Norway, as per clause  18.2, the administrative and
technical manager of the Card and in particular in charge of Customer Services.

Astat App means the mobile and web applications indicated in the Schedule, where Card Users may perform
certain operations in relation to their Card such as  activation, viewing Transactions, viewing the balance,
blocking and unblocking and raising queries with Customer Services in relation to use of the Card or the
available funds. Use of the App is regulated by the Astat Terms of Service.

Astat Terms of Service means the agreement entered into between you and Astat which governs use of the
Astat Corporate Account Platform and the Astat App.

Business Day means Monday to Friday, 9am to 5pm CET, excluding bank, national and public holidays in
Malta.

Card means each reloadable virtual prepaid card, as set out in the Schedule, issued to You by Us pursuant to
licence by the Card Scheme, loaded in the Denominated Currency. References to the Card include all Card
details, Security Details and PINs. Virtual reloadable prepaid cards shall not contain PINs.

Card Scheme has the meaning defined in the Schedule.

Card Services means any services provided by Us or Our third-party service providers in connection with a
Card.

Card User means an individual to whom a Card is supplied and who is validly authorised by You to use and
to utilise funds on a Card subject to this Agreement and on Your behalf.

Contract Holder means You, the corporate entity to whom the Cards are issued and which, subject to its
Corporate Account Platform agreement, owns the available funds that can be used by the Card User.

Corporate Account Platform means the online platform where Cards can be ordered and administered. Use
of the Corporate Account Platform is regulated by an agreement entered into between the Contract Holder
and Astat.

Customer Services means the department in charge of providing customer support for the Card as further
indicated in the Schedule.

Denominated Currency has the meaning given to it in the Schedule.

Device means your mobile device via which you can make Mobile Payments.


Insolvency Event: occurs, with respect to any party, in the event of

Mobile Payments or Mobile Payments Service means the mobile payments service provided by a Mobile Payments Provider.

Mobile Payments Provider means the provider of a Mobile Payments Service. 

Personal Data means any registered personal identity details relating to the use of the Card and Account including (but not limited to) an individual’s: name, date of birth, home address, email address and telephone (landline and/or mobile) number. Full details of the Personal Data which we process are set out in our Privacy Policy.

PIN or PIN Code means the personal identification number used to access certain Card services, provided to the Card User.

Regulatory Authority means as the context requires, any Scheme and/or any regulator or agency having jurisdiction over Issuer or Astat related to the issuance, marketing, sale, authorisation or usage of the Cards, Program(s) or services provided under this agreement, including without limitation the Malta Financial Services Authority

Security Details means certain information, including personal information, given by You on behalf of the Card User when applying for, and using, the Card and as notified to Us by You from time to time.

Transaction means Your use of the Card to make a payment or a purchase of goods or services from a Merchant over the internet, by phone or mail order.

Wireless Carrier means your service provider which provides the mobile phone connection to the mobile network for the Device to operate.

2. Purpose of the Card

2. Use of Card

  1. 2.1. Activation and General Use of the Card
  2. 2.1.1. The Card will be activated once issued. You shall only distribute the Card to the Card User and You shall be responsible for ensuring that each Card User complies with this Agreement where applicable. 
  3. 2.1.2. The Card is only for use by the Card User and expires on the date on the front of the Card. The Card cannot be used after it has expired.
  4. 2.1.3. The Mobile Payments Service, where available, enables the Card User to create a virtual representation of the Card on the Device, so that you can use the Card to make contactless payments at merchants' contactless-enabled point-of-sale terminals.
  5. 2.1.4. When you select your Card to use with your Mobile Payments Provider, certain Account information will be transmitted to and stored within your Device, which is then represented as a digital card.
  6. 2.1.5. The Mobile Payments Provider may also give you access to information about your Card. Further information on that feature will be provided by the Mobile Payments Provider.
  7. 2.1.6. The amount relating to each Transaction and any associated fees will be deducted from the balance on the Card. 
  8. 2.1.7. When using the Card at certain merchants, including hotels, restaurants and petrol stations, the merchant may hold an additional amount to cover tips/gratuities, temporarily reducing the balance available on the Card. 
  9. 2.1.8. We do not recommend using the Card as a guarantee of payment, for example as a deposit for hotels, cruise lines or car rental, as merchants such as these may estimate the final bill and this amount will be temporarily unavailable to access or spend.
  10. 2.1.9. You agree to accept a credit to the Card if a Card User is entitled to a refund for any reason for goods or services purchased using the Card.
  11. 2.1.10 We are not responsible for ensuring that point of sale terminals (“POS”) will accept the plastic Card.
  12. 2.1.11. Certain static payment terminal machines such as in car parking lots and toll ways are not connected in real time to the Card Scheme approval network and may not be able to accept prepaid Cards. We accept no responsibility, and shall not be liable for, any inability of Card Users to use their Cards in such POS or machines.
  13. 2.1.12 You must comply with all laws and regulations (including any foreign exchange controls) in respect of the Card, in the country of purchase and/or use.

2.2 Available funds

2.3 Temporary blocking of the Card

2.4. Card Renewal: Any Card renewal, if applicable, shall be subject to the Schedule.

2.5. Refund: Goods or services paid for with the Card cannot be refunded by a retailer unless there was a prior Transaction debited from the Card by that retailer of an equal or higher amount than the refund requested. If the Card User and retailer agree a refund, the retailer may process the refund via a POS terminal. Amounts credited to the Card as refunds shall be available no more than 3 (three) days after the time the refund order was received. If an amount is credited to the Card that does not correspond to a refund, Astat reserves the right to apply loading fees as set out in the Schedule and/or, at Our discretion, terminate the agreement.

3. Card Limits and Fees

3.1. The Card Fees and Limits provisions are outlined in the Schedule and will apply to the Card.

3.2. Transaction limits may apply to the Card as detailed in the Schedule. 

3.3. When the fees are linked to a Transaction that results from a related service without use of the Card, it will be carried out provided that sufficient funds are available on the Card to cover the cost of the Transaction and the fees, and related fees shall be separately debited from the Card’s balance. 

3.4. Each time the Card User uses the Card, the value of the Transaction plus any applicable fees shall be debited from the Card. If the value of the Transaction plus any applicable fees exceeds the balance of the funds available on the Card the Transaction will be declined, and applicable fees shall be charged to the Card in accordance with the provisions of the Schedule. These fees cannot exceed the amount of the payment order. 

3.5. Third Party Agreements may have fees, limitations and restrictions which might affect your use of the Card on your Device, such as data usage or text messaging charges imposed on you by your Wireless Carrier. You are solely responsible for these fees and agree to comply with any limitations or restrictions.

4. Card Security

4.1. When you register the Card to your Device, information about that Card is sent to and stored on your Device and used to create a digital card which is provisioned to your Device. This digital card may not have the same card number as your virtual Card. It is important that you take reasonable precautions to keep Cards which you have registered via Mobile Payments, including the security details that relate to them (for example your Device password, pattern, PIN, your fingerprint and iris scan stored in your Device) safe and that you prevent fraudulent use of them.

4.2. Before you register for Mobile Payments, you must check that only your Security Details are linked to the card you want to use on your Device, as these details will then be used for authorisation to make Transactions on your card. For the purposes of Mobile Payments, any transactions made using your Card and linked Security Details on the Device will be assumed to be authorised by you.

4.3. You should treat the Card like cash. If it is lost or stolen, you may lose some or all of your money on your Card, in the same way as if you lost cash. 

4.4. You must keep the Card and Security Details safe by taking appropriate measures, including, but not limited to, the following:

  1. never allowing anyone else to use the Card or sharing the Security Details with anyone;
  2. not choosing a Device password, pattern or PIN that can easily be guessed by anyone else.
  3. not telling anyone else your Device password, pattern or PIN.
  4. If you've already set up your Device with a password, pattern or PIN, fingerprint or iris scan access (“Security Information”), you must review this and ensure you change any password, pattern or PIN that can be easily guessed or that you have already shared with anyone else and you must delete any fingerprint or iris scan information which is not your own. If you believe somebody else knows any Security Information that you use for Mobile Payments or for your Device, you should change that information immediately.
  5. complying with any reasonable instructions We give about keeping the Card safe and secure;
  6. using only secure internet sites for making Card Transactions online;
  7. choosing strong passwords that mix alpha and numeric characters when managing the Account;
  8. shredding any personal information or Security Details relating to the Card that could be used by an identity thief; and
  9. reporting thefts of any Security Details relating to the Card to any relevant organisations to warn them of any potential attempts to commit identity fraud in Your name.

4.5. You must delete your Card from your old Device if you upgrade, change, dispose of it or pass it temporarily to someone else, e.g. to be repaired.

4.6. You undertake, represent and warrant to Us that the Transactions that the Card User will undertake using the Card do not contravene Applicable Law and that You and the Card User shall at all times comply with all Applicable Law in relation to the performance of Your obligations under this Agreement.

4.7. Information sent over the internet may not be completely secure. The internet and the online systems are not controlled or owned by us so We cannot guarantee that they will be secure and function at all times and We accept no liability for unavailability or interruption.

6. Authorising Transactions

7. Loss, theft and misuse of cards

8. Third Party Agreements and Support

9. Our Liability to You

10. Terminating this agreement

11. Causes for Termination

11.1. We reserve the right, at any time and without prior notice, at Our discretion to terminate the Agreement, to block or suspend use of the Card, restrict its functionality and/or to demand the return of the Card if any of the following circumstances arise:

11.2. In addition to any rights of termination, cancellation, suspension and closing your Card Account as set out in the remainder of these Terms and Conditions, we reserve the right (on giving reasonable notice where possible) to stop offering or supporting any Card or to stop participating in Mobile Payments.

11.3. We may block, restrict, suspend or terminate your use of any Card through Mobile Payments if you breach these Terms or if we suspect any fraudulent activity or misuse of the card.

11.4. As per clause 3.3, We shall remove the block on the Card as soon as practicable after We are satisfied, acting reasonably, that the reasons for blocking or suspending it no longer exist. If the circumstances for blocking or suspending the Card continue for 1 month, We may terminate the Agreement instead.

11.5. The Device provider or Mobile Payments Provider reserves the right to block, restrict, suspend, or terminate your use of the card and/or change the functionality of the Mobile Payments Service without reference to us. In such circumstances we will not be liable to you or any third party.

11.6. Any termination or expiry of the Agreement, howsoever caused, shall be without prejudice to any obligations or rights of either of the parties which may be accrued prior to termination or expiry and shall not affect any provision of the Agreement which is expressly or by implication intended to come into effect on, or to continue in effect after, such termination or expiry. 

11.7. The Contract Holder will be responsible for ensuring that all Cards Users have been notified of termination of the Agreement. 

11.8. You can remove any of your cards from Mobile Payments at any time, in which event you authorise us to continue to process any Transactions outstanding on such card(s) at the time of your removal of such card from Mobile Payments. 

12. Penalties

12.1. In addition to such actions constituting a break of the provisions of this Agreement, any illegal or fraudulent use of the Card by You or the Card User, or with knowledge, may be reported to the Police or any other relevant regulatory authority.

12.2. You shall be liable to Us for all losses, fees and other expenditure incurred by Us in relation to the recovery, cancellation or reversing of Transactions resulting from the misuse of the Card by You or the Card User or where You break any important provision or repeatedly break any provision of this Agreement and fail to remedy it.

13. Confidentiality and Data Protection

13.1. TPML is the Data Controller of your Personal Data associated with the application for and use of this Card and will collect certain information about the purchaser and the users of the Card in order to operate the Card program.  Your provision of your Personal Data and our processing of that data is necessary for each of us to carry out our obligations under this Agreement. At times, the processing may be necessary so that we can take certain steps, at your request, prior to entering into this Agreement. If you fail to provide the Personal Data which we request, we will take steps to terminate this Agreement in accordance with clause 11.1(viii) above. 

13.2. We will manage and protect your Personal Data in accordance with all applicable data protection laws. For full and comprehensive information about when and why we collect personal information about you, how we use it and the conditions under which we may disclose it, please refer to our Privacy Policy which is provided to you at the time we collect your Personal Data and which is available at https://www.astat.app/privacy

14. Variations of Agreement

14.1. We may, at Our discretion, alter this agreement at any time.

14.2. We shall give You 15 (fifteen) days’ prior notice by post or email before We make the change, unless the change is required to be implemented earlier by any applicable law, regulation or rule by Card Scheme, or if it relates to a change in the exchange rate. The version of this Agreement displayed on the Astat App and Corporate Account Platform at any time shall constitute the binding version and shall render any previous one obsolete. You understand that the Astat App and the Corporate Account Platform should regularly be checked.

14.3. If You do not agree to the change You should terminate the Agreement in accordance with the provisions of this Agreement. If You do not do so We will assume that You agree to the change and it will be implemented upon the expiry of the notice period.

15. General

15.1. Nothing in this Agreement will confer on any third party any benefit under, or the right to enforce, this Agreement.

15.2. We may assign any of Our rights and obligations under this Agreement to any other person or business, subject to such party continuing the obligations to You herein. 

15.3. We may contact You by letter or email using the contact details You provide on the Corporate Account Platform.

16. Complaints

16.1. The Card program is managed by Astat. Should you wish to contact us or complain about any aspect of our service please contact Customer Services.

16.2. If having received a response from our Customer Services Team you are unhappy with the outcome you can escalate your complaint to Transact Payments Malta Limited’s Complaints Department at complaints@transactpaymentslimited.com.

16.3. We will make every effort to reach a resolution to your complaint, if we are unable to resolve your issue to your satisfaction we will explain the reasoning behind our decision.  

16.4. In the unlikely event that we are unable to resolve your issue you have the right to refer your complaint to the Arbiter for Financial Services at the following address: Office of the Arbiter for Financial Services, 1st Floor, St Calcedonius Square, Floriana FRN 1530, Malta (Telephone+ 356 21249245, Website: https://financialarbiter.org.mt

17. Law, Jurisdiction and Language

17.1. This Agreement and any disputes, which arise under it, shall be exclusively governed and construed in accordance with the laws of Malta and subject to the exclusive jurisdiction of the Maltese courts.

17.2. The English language version of this Agreement and of any communications and Astat App content will prevail over any other language version which we may issue from time to time.

18. The Card Issuer and the Service Provider of the Card

18.1. Your Card is an electronic money product issued by Transact Payments Malta Limited pursuant to its licence from the Card Scheme.

18.2. Astat administers and services the Card on Our behalf and is available to give You support if You have any queries.

19. Compensation

19.1. The Card is an electronic money product and not a deposit or credit or banking product and, as such is not governed by the Deposit Security Scheme of Malta. However, We will safeguard your funds so that they are protected in accordance with applicable law if we become insolvent.