“Account” – technical account of the Client in the Operator’s records where the Operator accounts Client’s Points and that serves for Accrual, Disposal and Cancellation of Points. The Account is not an account with the financial service provider and is not attached to the Client’s Card.
“Accrual” means a procedure of increase of amount of Client’s Points in accordance with the Agreement.
“Bonus Points” means additional Points that the Client receives under certain condition of Program.
“Card Account” means the account of the Client with the Issuer opened in accordance with the General Terms and Conditions of Business and to which the Card is attached.
“Card” or “BlackCatCard” means plastic card (i.e. physical (plastic) card which is the copy of virtual card; “Plastic Card”) or virtual card (non-physical card linked to the Card Account the use of which is limited to online purchases; “Virtual Card”) the holder of which is the Client.
“Client” means a private individual meeting the following provisions:
who is at least 18 years old;
who has applied to Issuer for Services;
who is the holder of BlackCatCard.
“Contract” means three-party agreement between Client, Issuer and Operator and that consists of:
General Terms and Conditions of Business of the Issuer (that are available in the Mobile App or at: https://www.papaya.eu/;
any amendments, annexes and supplements to the above stated documents and that can be from time to time adopted by the Issuer and/or the Operator as provided herein.
The Contract shall be applicable to the provisions of the Program only. Any relations between the Issuers and the Client beyond the Program shall be governed by the General Terms and Conditions of Business of the Issuer and other related documents. In the event of discrepancies between the provisions of the General Terms and Conditions of Business and these Terms, the provisions of Terms shall prevail.
“Issuer” means Papaya Ltd., an Electronic Money Institution, incorporated under the laws of Malta with registered office at: 31 Sliema Road, Gzira, GZR 1637, and that is technical partner of the Operator in the Program.
“Mobile App” means mobile application “BlackCatCard” available for downloading from Apple App store and Android Play Market.
“Operator” means a company FINTECH ASSETS OÜ, registration No.14063464, registered office: Pärnu mnt 110-7, Tallinn, Harjumaa 11313, that provides Clients services in line with its business activity and that is the intermediary in relations with the Service Providers. Operator with the technical assistance of the Issuer shall implement and administer the Program, including accounting, Accrual and/or Cancellation of Points within the scope of the Program.
“Point” means a conditional unit that is accrued and disposed by the Operator in accordance with these Terms. The Points shall be used solely for accounting reasons and shall not be used as a payment instrument or any type of money (including electronic money). The Points cannot be converted into cash, donated to the third parties or inherited. These Terms allow the following operations with the Points:
Accrual – procedure that results in increase of amount of Points at the Account pursuant to the Contract;
Cancellation – procedure of cancellation of the Client’s rights to dispose the Points (as provided below) that were previously accrued at the Account by disposing the Points as provided in the Contract;
Disposal procedure that results in decrease of amount of Points at the Account pursuant to the Contract.
“Program” means Loyalty program “BlackCatCard”, implemented by the Operator with the technical support of the Issuer. The Program is intended for promotion and strengthening of loyalty to the Operator and is implemented as system of accrual and disposal of Points.
“Services” means services provided by Issuer to the Client, including, but not limited to, issuing of the BlackCatCard, Card Account management, execution of payment transactions (incl. payment transactions through a Card), cash withdrawals from the Card Account and the participation in the Program.
“Service Provider” means any entity or private entrepreneur whose goods and services can be paid by the Client’s Card and transactions with whom, in accordance with the provisions of the Program, shall be deemed as Transaction.
“Transaction” means the payment operation of the Client with the Card that is, in accordance with the provisions of the Program, eligible for the changes in the number of Client’s Points.
These Terms define the provisions of use of the Card, and the implementation of the Program by the Operator and participation of the Client in the Program.
The Client joins one of the Programs when it was issued a Card pursuant to the provisions of the General Terms and Conditions of Business of the Issuer.
The Program allows Clients to use Points while purchasing goods and services with the Card.
The Program is not a lottery.
The Program shall be effective for the indefinite period. The Issuer shall be entitled to unilaterally terminate the Program in accordance with the provisions specified in the clause 3.16 of these Terms.
Joining the Program, the Client confirms that he/she has read the Contract and these Terms, expressly accepts the provisions of the Program and is obliged to follow them.
These Terms shall be treated as the public offer.
Starting from the moment of joining the Program, the Client hereby submits the Issuer the unlimited order for recurring automatic payment under the following conditions:
the receiver of such automatic payment – the Operator;
type of money transfer – regular, in the amount of all available funds on the Client’s Card Account deducted for the amount of Client’s liabilities to the Issuer that are due in accordance with the provisions of the agreement between the Client and the Issuer;
the order is not limited in time.
LOYALTY PROGRAMS. POINTS
There are 2 (two) Programs. Applying for Services the Client agrees to become a member of one of the Programs – the First Program. The First Program
The First Program - 2.2% per annum of the balance in Client’s Points implies the payment of Bonus Points under the following conditions:
the weighted average balance in Client’s Points for the reporting period is equal to or greater than 300 EUR;
the Client has made purchases worth more than 200 EUR using BlackCatCard for the reporting period;
Bonus Points are paid on balance less than 100,000 EUR.
Calculation period - from the 10th day of the previous month to the 10th day of the current month (including the first day but not the last).
The Client can seamlessly switch between bonus programs. In this case, the billing is carried out according to the Program, which was active at 00:00 on the 10th day of the current month.
Calculation Procedure for First Program:
The calculation of the average balance
The weighted average balance is calculated to verify the participant’s compliance with the conditions of the Program:
Balance at 24-00 – the balance in Client’s Points gathered at 24-00 every day
Day - every day when the Program was enabled
n - the number of days the Program was enabled
Number of purchases The sum of all purchases for the reporting period converted to EUR. Used to calculate the Program participation conditions.
Calculation of Bonus Points
Balance at 24-00 - the balance in Client’s Points gathered at 24-00 every day.
Day - every day when the Program was enabled.
n - the number of days when the Program was enabled.
The actual number of days in a year - the actual number of days in a year passed on the settlement date.
% bonus - the percentage of the remaining points paid as Bonus Points.
The Second Program - 0.1% of the balance in Client’s Points for card purchases, implies the payment of Bonus Points under the following conditions:
The amount of Client’s card purchases per month is equal to or more than 50 EUR
Calculation period from the 10th day of the previous month to the 10th day of the current month (including the first day but not the last).
The Client can seamlessly switch between programs. In this case, the billing is carried out according to the Program, which was active at 00:00 on the 10th day of the current month.
Calculation Procedure for Second Program:
The total amount of Client’s Points for card purchases for the reporting period.
Day - every day when the Program was enabled.
n - the actual number of days the Program was enabled.
% bonus - percentage indicated in the Program.
Accrual of Points is performed by the Operator for the purchase of Points, which the Client makes when the Operator receives Client’s funds in accordance with clause 2.9, and for Card Transaction.
Accrual of Points is made with ratio 1 euro = 1 Point, unless otherwise is provided by the Operator in accordance with the Loyalty Program provisions when a Client is granted bonus Points for certain Transactions.
The Bonus Points are accrued in the amount of the rate specified in the Card’s Pricing, provided that the Client fulfils the conditions specified in the Card’s Pricing in relation to the minimum average monthly balance on the Card Account and/or the minimum Card turnover per month.
Accounting of Points is performed by the Operator in its accounting system.
The number of Points is calculated and accrued after the Issuer processes transaction documents of the Transactions with the Card.
The Points shall not be accrued:
for cash withdrawal transactions (in ATMs, bans cash desks etc.);
for transactions related to transfers to the accounts with Issuer or other banks;
for transactions with financial institutions (e.g. in favour of insurance companies and investment funds);
for payments related to bets and lotteries;
for e-wallet top-up transactions;
for donation payments in favour of charity, political organisations etc.;
for acquisition of travel cheques, financial instruments, precious metals etc.;
for foreign currency buy and sell transactions;
for transactions in favour of pawn offices;
for transactions that later result in repayment of funds.
The Points for the accounting period (calendar month) shall be accrued in accordance with the clauses 2.9 and 3.11 provided that at the date of accrual the Client has no outstanding liabilities to the Issuer under the Agreement. If there are any outstanding liabilities, the Issuer shall be entitled at any time and without prior notification to the Client to debit the Client’s funds in the amount of such liabilities.
Accrual of Bonus Points for the Transactions in accordance with the Agreement shall be performed by the Operator by increasing the amount of Client’s Points on the 10th date of the month following the accounting month.
Cancellation of Points
The Operator shall cancel the Bonus Points under the following conditions:
if the Client ceases participation in the Program on its own initiative;
if the Client’s Card Account is closed;
if the Client has outstanding liabilities to the Issuer under the Agreement;
if the Program is terminated by the Operator and/or the Issuer.
Under conditions specified in the clause 3.18 all available Bonus Points shall be cancelled without paying any equivalent to the Client.
The Issuer can unilaterally and without prior agreement with the Client use Bonus Points to cover any outstanding liabilities of the Client.
The Points accrued in accordance with clause 3.16 cannot be cancelled.
Disposal of Points
The Program allows Clients to dispose the Points to buy goods and services using the Card. All actions related to the changes of available Client’s Points balance within the Program are performed by the Operator at the moment of execution of the Transaction.
Prior to the execution of the Transaction the Issuer shall verify the sufficiency of the Client’s Points for the execution of the Transaction and, if the amount is insufficient, rejects the execution of the Transaction.
The available amount of Client’s Points is indicated in the Mobile App.
Termination of Participation in the Program
The Client is entitled to terminate the participation in the Program at any time upon sending notification to the Issuer; such notification shall be treated as grounds for termination of participation. The Operator shall cancel all unused Bonus Points of the Client and stop accruing new Points. The Client shall not be entitled to receive any equivalent of the cancelled bonus Points.
The participation of the Client in the Program shall be terminated if:
Client terminates the participation as specified in the clause 3.25;
the Issuer and/or the Operator terminate the Program;
in the event specified in the clause 3.28 of these Terms.
Suspension of Termination of the Program
The Issuer and/or the Operator may unilaterally suspend or terminate the Program at any time at their own discretion as follows:
in any other way (including by e-mail, by post or by phone) that allows the Client to receive the information and make sure that it is received from the Issuer and/or the Operator.
The Issuer shall be entitled to unilaterally suspend or terminate the Program with respect to the Clients that have outstanding liabilities to the Issuer in accordance with the Agreement.
In the event of suspension or termination of the Program under conditions specified in the clause 3.28 of these Terms, the Issuer shall notify the Client by sending SMS notification at the date of suspension or termination of the Program.
If, at the moment of termination of the Program, the Client has any unused Bonus Points, such bonus Points shall be cancelled in full amount. If, at the moment of termination of the Program, the Client has any outstanding liabilities to the Issuer, the Issuer shall be entitled unilaterally and without prior agreement with the Client to use Bonus Points and available funds in the Client’s Card Account to cover all such outstanding liabilities.
In the event of termination of the Program, all Points that are due to the Client in accordance with these Terms shall be credited to the Client's Card Account in the form of funds with a ratio of 1 Point = 1 euro.
Change of Program Provisions
The Issuer and/or the Operator shall be entitled to unilaterally amend these Terms. Coming into effect of any amendments and supplements adopted by the Issuer and/or the Operator shall be performed in accordance with the information disclosure procedure of the Issuer. The publication of information shall be ensured by the Issuer and/or the Operator at least 30 (thirty) calendar days prior to coming into effect.
Any amendments and supplements to these Terms adopted by the Issuer and/or the Operator shall come into effect on the date stipulated in the new version of the Terms.
The Issuer can make the Terms (with amendments and supplements thereof) available to the Clients as follows:
in any other way (including by e-mail) that allows the Client to receive the information.
It is deemed that the Client is notified about the published information from the moment when this information is available for Clients in accordance with the clause 3.34.
In order to ensure that the Client has access to up-to-date information and Program provisions, the Client shall personally follow the information that is being published or notified.
Personal Data Protection Policy
The Issuer and the Operator shall process Clients’ personal data for the purposes of issuing and servicing of the Card and implementation of the Program in accordance with Date protection Policies of both the Issuer and the Operator.
The Client hereby authorises the Issuer and the Operator to provide in full or partially the data stipulated in the clause 3.37 to each other for the purposes of the Сontract and in the amount necessary for the execution of the Сontract.
Any disputes and controversies related to the participation in the Program shall be settled in negotiations. In the event when the parties of the agreement failed to reach the settlement within 30 (thirty) calendar days, then such disputes and controversies shall be settled in court of the jurisdiction of the respondent.
All issues that are not covered by these Terms, shall be governed by the law of the Republic of Malta and the provisions of the General Terms of Business.