Terms of Service

1. Introduction

1.1 These Terms and Conditions ("Terms") govern your access to and use of the MothCard-branded card issuance, digital wallet, mobile application, and related services and platform technologies (collectively, the "Services"), provided by Hong Kong Yunmo Technology Co., Limited, a company incorporated in Hong Kong (the "Company", "we", "us" or "our").

1.2 Please read and understand these Terms before using the Services. By completing registration and/or using the Services, you are deemed to have read, understood, and agreed to be bound by these Terms and our Privacy Policy.

2. Definitions

• "App" — the mobile application owned and released by us, including all content, services, updates and versions thereof.
• "Account" — the account established for you in respect of the Services to record Transactions and related items.
• "Applicable Law" — any applicable laws, regulations, rules, orders, directives, codes or guidelines of any government or relevant authority, as amended from time to time.
• "Issuance Services" — the card issuance services provided by us or our partner issuing institution(s), enabling the issuance of the MothCard under the relevant Card Network.
• "Card Network" — any international credit, debit and/or prepaid card network applicable to your MothCard.
• "Digital Wallet" — the digital wallet provided and hosted by us or our Custodian for storing approved virtual assets.
• "Custodian" — a third-party entity designated by us to provide secure custody of virtual assets, which we may evaluate and change at our sole discretion.
• "Authorized Device" — the device successfully registered by you for use with the App and Services.
• "Fees" — all applicable fees and charges imposed in relation to the Services.
• "Merchant" — a supplier of goods or services accepting payment by card.
• "MothCard" — the MothCard credit or debit card, virtual or physical, provided to you for Transactions.

3. Eligibility and Territorial Scope

3.1 The Services are intended only for individuals who are residents of, and domiciled in, Hong Kong. The promotion or distribution of our products or services outside Hong Kong may require authorization or a licence in the relevant jurisdiction.

3.2 If you are accessing the Services from outside Hong Kong, you acknowledge and confirm that you are doing so on your own initiative, and not as a result of any solicitation, promotion, marketing or invitation by the Company. You are solely responsible for compliance with the laws of your own jurisdiction.

3.3 You must be at least 18 years old (or the minimum age required under Applicable Law), have full legal capacity, not be impersonating any person, and not have been previously suspended or banned from the Services.

3.4 We may verify your information and may, at our sole discretion, refuse, suspend, terminate or limit your use of the Services.

4. Authorized Device

4.1 In connection with your use of the App, you shall at your own cost: (i) obtain all necessary hardware, software and communications services; (ii) install antivirus and security software; and (iii) install updates and patches promptly.

4.2 You are solely responsible for all access to and use of the App and Services through your Authorized Device, even if effected without your knowledge or authority. We shall not be liable for any resulting loss.

5. The Services

5.1 Through the App and/or website, you may access Services including but not limited to:

• Digital Wallet — deposit supported tokens; we and/or the Custodian manage the virtual assets on your behalf under these Terms.
• Issuance Services — apply for a virtual MothCard; subject to the relevant card scheme, use the card for purchasing goods or services from Merchants, and for cash withdrawals at ATMs where supported.
• Top-up to your MothCard.
• Manage card settings, such as freezing and unfreezing a card or viewing card details.
• View Transaction history of your Digital Wallet and MothCard. No paper statements are provided.

5.2 You acknowledge that virtual assets in the Digital Wallet are managed by us and/or the Custodian to ensure proper functioning of the Services, for security and/or compliance with Applicable Law.

5.3 We make no guarantee that any specific service, feature or content will always be available, and we may add, update, modify, suspend, restrict or discontinue any part or all of the Services at any time, without notice or liability to you.

6. Card Activation and Use

6.1 You may be required to activate your MothCard through the App. Each card is valid for the period determined by us and shown in the App.

6.2 You shall keep your card details safe and protect against unauthorized access or use.

6.3 You shall not use your MothCard for any transaction or activity that is illegal or prohibited under Applicable Law.

6.4 You shall be liable for all Transactions whether or not executed with your knowledge or authority, including those arising from your negligence.

6.5 You shall notify us without undue delay upon discovering any: (i) loss, theft or misappropriation of your Authorized Device or card; (ii) unauthorized Transaction; (iii) unauthorized disclosure or use of card data; or (iv) unauthorized access to your Account.

6.6 Each MothCard has a validity period shown in the App. Upon expiry, the card will cease to function and any remaining balance on the card will no longer be usable. We will remind you before expiry; please use up the card balance before the card expires.

6.7 The balance topped up to a MothCard is prepaid spending funds usable only for payment transactions, and cannot be transferred back to the Digital Wallet or transferred to others.

6.8 Transfers within the platform are irrevocable once confirmed. Please verify the recipient details and amount before confirming; you bear any loss resulting from your input errors.

7. Disputes and Chargebacks

7.1 Contact us at support@mothcard.io without undue delay in the event of any dispute regarding a card Transaction, no later than 60 days after the transaction date.

7.2 You may be required to provide supporting information or documents as we or the Card Network require.

7.3 You agree that decisions of the Company and/or the Card Network on such disputes are final, conclusive and binding.

7.4 Any fees for processing a dispute or chargeback may be deducted from your Digital Wallet balance and are non-refundable.

8. Digital Wallet

8.1 Virtual assets in the Digital Wallet are held in custody by us or a third-party Custodian. By using the Digital Wallet you confirm that you understand the inherent risks, including: (i) system risks; (ii) market and volatility risks; (iii) regulatory risks; (iv) security risks, including loss or theft via cyberattack or Custodian breach; and (v) operational risks.

8.2 We and our affiliates are not liable for losses associated with your Digital Wallet or any virtual assets, or caused by the acts or omissions of the Custodian.

8.3 No interest is paid on virtual assets held in the Digital Wallet. If we change the Custodian, you authorize us to transfer the assets to the new Custodian.

8.4 The Digital Wallet is not a deposit account and the virtual assets are not protected by the Deposit Protection Scheme (Cap. 581, Laws of Hong Kong).

9. Top-ups

9.1 The Digital Wallet only accepts supported tokens. Assets that are not supported tokens may be irretrievably lost.

9.2 You represent and warrant that all assets used to top up are legally and beneficially owned by you, free of encumbrance, and not derived from unlawful activities.

9.3 We and the Custodian may conduct KYC, KYT, AML and other due diligence checks on all assets and transactions associated with your Digital Wallet.

10. Pre-authorization and Settlement

10.1 You authorize us to freeze your Digital Wallet for the amount of each Card Transaction and any relevant Fees, together with any buffer as applicable at our discretion.

10.2 When you top up or settle your MothCard, you authorize us to convert, where applicable, and deduct virtual assets from your Digital Wallet into stablecoins or fiat, with reference to the prevailing market rate applied at our discretion.

11. Fees

11.1 Your use of the Services may be subject to Fees, debited from your Digital Wallet balance, deducted at settlement, or charged separately.

11.2 We may introduce or adjust Fees from time to time. All Fees are exclusive of applicable taxes.

11.3 Except as expressly provided in these Terms or in the App, such as a refund upon card issuance failure, all Fees paid are non-refundable. Where card issuance fails, we will refund the corresponding amount after deducting processing costs already incurred, with the proportion and amount as displayed in the App.

12. Compliance with Applicable Laws

12.1 You agree to comply with all Applicable Laws and confirm that assets topped up are not from illegal activities. We may, at our discretion or with law enforcement, seize, restrict or close your account and assets, and report you to authorities.

12.2 You must observe local anti-money-laundering regulations. We may conduct comprehensive due diligence, ongoing monitoring and mandatory regulatory reporting, and may collect information and documentation to comply with Applicable Law. This right survives termination of your relationship with us.

13. Suspension, Change, and Termination

13.1 You acknowledge the possibility of discontinuation or disruption of the Services, and that we will not be liable for any resulting losses.

13.2 We may interrupt, suspend or terminate the Services at any time, with or without prior notice.

13.3 We reserve the right, at our sole discretion, to discontinue or terminate any part or all of the Services, including freezing or closing your Digital Wallet and refusing or reversing Transactions, including where: (i) information you provided is untrue or inconsistent; (ii) you violate Applicable Law or these Terms; (iii) required by Applicable Law or authorities; (iv) for security or other reasonably necessary reasons; or (v) we suspect a transaction is connected to unlawful activity.

13.4 You shall not be entitled to any compensation in relation to any suspension or termination, which shall not release you from any accrued liability.

14. Limitation of Liability

14.1 To the fullest extent permitted by law, we disclaim all warranties, express or implied, including warranties of quality, merchantability or fitness for a particular purpose.

14.2 Our aggregate liability in connection with these Terms shall not exceed the greater of (a) US$100 or (b) the Fees we received from you in the 12 months preceding the event giving rise to liability.

14.3 Except as required by law, we shall not be liable for: (1) losses due to unusual or unforeseeable events outside our reasonable control, including force majeure, war, disaster, strike or governmental acts; (2) losses arising from delay, suspension or failure of the App or Services, card rejection, refusal to authorize a Transaction, system maintenance or breakdown, third-party use of your device, theft or loss of your device, or our compliance with Applicable Law, court orders or Card Network rules; (3) any special, indirect, incidental or consequential damages, including loss of profits or data; or (4) damages from reliance on information obtained from us. Some jurisdictions do not allow certain exclusions, so these may not apply to all users.

14.4 We shall not be liable for the fault of any third-party service provider we instruct; our liability is limited to using reasonable care in their selection and instruction.

15. Indemnification

You agree to indemnify and hold harmless the Company, its affiliates, third-party service providers, and their respective officers, directors, agents and employees from any claim or demand, including legal fees and regulatory fines, arising out of or related to: (i) your breach of these Terms; (ii) your use of the App or Services; (iii) your violation of any law or third-party right; and (iv) any transaction resulting from your wilful default, fraud, gross negligence or breach.

16. Amendment

These Terms may be updated from time to time. Updated Terms take effect immediately upon posting on the App and website. Your continued use after changes take effect indicates acceptance.

17. Assignment

You may transfer your rights or obligations only with our written agreement. We may transfer our rights and obligations to another organization; we will tell you in writing and ensure your rights are not affected.

18. Severability

If any provision is illegal or unenforceable, the remaining provisions remain in effect, and the affected provision shall be modified to accomplish its objective to the greatest extent permitted by law.

19. Entire Agreement and Language

19.1 These Terms constitute the entire agreement between you and us regarding the subject matter, superseding all prior agreements.

19.2 These Terms are concluded in English. If translated into any other language, the English text prevails in case of conflict.

20. Waiver

No failure or delay by us in exercising any right shall constitute a waiver of that or any other right. Any consent granted in one instance does not constitute continuing consent.

21. Notices and Communications

21.1 You agree that we may provide notices electronically: (a) via email, SMS or phone, to the contact you provide; or (b) by posting to the website. Email notices are deemed received on transmission. You agree that our records of matters relating to your use of the Services are conclusive and binding, and admissible without further proof of authenticity.

21.2 We prefer to receive notices electronically at support@mothcard.io.

22. Governing Law and Jurisdiction

These Terms are governed by the laws of Hong Kong. The parties submit all disputes arising out of or in connection with these Terms to the exclusive jurisdiction of the courts of Hong Kong.