B. RedotPay Card
REDOTPAY SERVICES TERMS & CONDITIONS FOR BUSINESS
Last Updated: 29 April 2025
THIS IS AN IMPORTANT DOCUMENT. PLEASE READ IT CAREFULLY.
These terms and conditions ("Terms") contain important information which applies to your dealings with us in relation to your Account with us and the Services (each as defined in this document). You should read these Terms carefully. Further additional terms and conditions may apply in relation to specific Services offered by us. Any such terms and conditions are additional to the terms set out in these Terms.
You should not construe these or any other statements in these Terms as legal, tax or financial advice. We are not acting as your financial adviser and you must not regard us as acting in that capacity. You should consult your own independent professional advisers before entering into any transaction and only enter into a transaction if you have fully understood its nature, the contractual relationship into which you are entering and all relevant terms and conditions.
GENERAL TERMS AND CONDITIONS
"Account" | means the account established in respect of the Services and other items, which, among other things, include the Custodian Account; |
"Acceptable Tokens" | means (i) in the case of a Custodian Account, such virtual assets which would be accepted by the Group to be deposited into the Custodian Account, which include Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and USD Coin (USDC); |
"AML/CTF" | means anti-money laundering and counter-terrorist financing; |
"App" | means the mobile application software owned and released by the Group, and available for download for Android or Apple iOS, including all content and services made available on or through the same, and any and all updates, upgrades, supplements, releases and versions thereof; |
"Applicable Law" | means any Hong Kong or foreign law, rule, statute, subordinate legislation, regulation, by-law, order, ordinance, protocol, code, guideline, treaty, policy, notice, direction or judicial, arbitral, administrative, ministerial or departmental judgment, award, decree, treaty, directive, or other requirement or guideline published or in force at any time which applies to or is otherwise intended to govern or regulate any person (including all parties to this Terms), property, transaction, activity, event or other matter, including any rule, order, judgment, directive or other requirement or guideline issued by any governmental or regulatory authority; |
"Authorised Person" | means any person you authorise (either alone or collectively) and we approve to act on your behalf in giving Instructions or performing any other act in connection with these Terms;
|
"Custodian Account" | means the custodian account opened by a user with the Custodian, including a cryptocurrency wallet hosted by the Custodian, which allows a user to keep in custody with the Custodian the fiat currency and types of virtual assets that have been approved by the Group; |
"Custodian" | means Red Dot Trust, or any other concurrent and/or successor service provider(s) appointed from time to time ; |
"Enabled Device" | means the mobile communications or other device successfully registered by you for use in connection with the App and Services; |
"Fees" | means all applicable fees and charges imposed by the Group, the Custodian and/or otherwise in relation to the use of the Services, the Custodian Account; |
"Group/we/us/our" | means the RedotPay group, including RFTL, RDTL, Red Dot Trust, RedotX and/or their affiliates. The rights and obligations of each member of the Group under these Terms are several and not joint. No member of the Group shall be liable for an act or omission by another member of the Group; |
"Insolvent" | means, if the person: (a) makes a general arrangement or composition with or for the benefit of its creditors;
(b) institutes or has instituted against it any voluntary or involuntary proceeding seeking relief under any insolvency, bankruptcy or other law affecting creditors’ rights, or, has a winding-up or liquidation petition presented against it and such proceeding or petition:
(i) results in a judgment of insolvency or bankruptcy of the person or the entry of an order for relief or winding-up, administration liquidation or similar; or
(ii) is not dismissed, discharged, stayed or restrained, in each case within 15 days of the institution or petition (as the case may be);
(c) is dissolved other than pursuant to a consolidation, amalgamation or merger;
(d) is unable to pay its debts as they become due and/or admits in writing its inability to pay its debts as they become due;
(e) seeks or becomes subject to the appointment of an administrator, liquidator, receiver, trustee or other similar official for it or for all or substantially all of its assets;
(f) causes or is subject to any event with respect to it which, under Applicable Law, has an effect analogous to any of the events specified in paragraphs (a) to (e); or
(g) takes any action in furtherance of or indicating its consent to any of the events specified in paragraphs (a) to (f);
|
"Instructions" | means any written instructions (including information, communications, orders or messages) given by a user (or a person reasonably believed by the Custodian to be an authorized person of the user), including communications effected directly between protected electromechanical or electronic devices, in each case in accordance with such testing and authentication procedures and subject to any limitations in scope of authority, oral instructions (including information, communications, orders or messages) , whether automated or not, referable to you; |
''KYC" | means know-your-customer; |
"KYT" | means know-your-transactions; |
"Personal Data" | means data, whether true or not, about an individual who can be identified: (a) from that data, or (b) from that data and other information to which the organisation has or is likely to have access; |
"PIN" | means such code or number that is used by us for the purpose of identification when you access information, give any instruction or when you access any other Services; |
"Pooled Account" | shall have the meaning ascribed to the term in Clause 26.9; |
"Proscribed Address" | means: (a) any blockchain address that appears in a list of addresses with which dealings are proscribed by the United Nations or another government agency or relevant authority under Applicable Law, or is part of a group of addresses that appears in such a list; and (b) without limiting the generality of this definition, an address stated on the United States of America Department of Treasury’s Specially Designated Nationals list; |
"Proscribed Person" | means a person who, in our determination: (a) is in breach of any AML/CTF requirements and/or sanctions of any jurisdiction; (b) appears on a list of persons with whom dealings are proscribed by the United Nations or another government agency or a regulatory authority under Applicable Law; or (c) acts on behalf of, or for the benefit of, any person described in paragraph (a) or (b); |
"RDTL" | means Red Dot Technology Limited; |
"Red Dot Trust" | means Red Dot Trust Limited; |
"RedotX" | means RedotX (Tango) Limited; |
"RFTL" | means Red F. Technology Limited; |
"Service Content" | means data, information, materials, advertisements, text, audio, video, graphics, software and other content on the Site and App; |
"Services" | means the Site, App, Service Content and all related features, services, content and applications (including those described in Clause 3.1) which the Group may make available to you from time to time; |
"Site" | means the website https://www.redotpay.com/; |
"Trade Marks" | shall have the meaning ascribed to the term in Clause 10(a); |
"Transaction History" | means the transaction history of your Account and Services and details of your Custodian Account; |
"User Termination" | shall have the meaning ascribed to the term in Clause 14.7; |
"Wallet Balance" | means the total amount of fiat currency and virtual assets (as applicable) held in your Custodian Account, as may be increased or decreased according to these Terms; and |
"you/your" | means, jointly and severally, the individual(s) who is/are the user(s) of the Services provided by the Group, and, where the context permits, includes any Authorised Person. |
PART A. CUSTODIAN ACCOUNT(S)