Latest update: 20/07/2022
1. YOUR PEMO ACCOUNT
1.1 Your Pemo Account may include an account maintained with Pemo’s banking partners designated as the account for the settlement of transactions made on the Pemo Card (as defined below) (the “Card Account”) and an account set up with Pemo’s banking partners to hold funds associated with your Pemo Account (the “Payment Account”) (together the “Accounts”)
1.2 The terms and conditions governing your Pemo Account are available here and should be read together with these Pemo Card terms and conditions (together the “Terms and Conditions”) You are advised to read and understand the Terms and Conditions carefully.
1.3 By signing up for the Pemo Account, you are deemed to have read and accepted the Terms and Conditions. If you do not agree to the Terms and Conditions, you should not use the Pemo Account and you should contact us immediately.
2. ISSUANCE AND USE OF THE PEMO CARD
2.1 You may apply for the Pemo corporate debit card (the “Pemo Card”) via our mobile application.
2.2 If you make an application for a physical Card, Pemo will send the Pemo Card to such address as notified by you to Pemo.
2.3 If you make an application for a virtual Pemo Card, Pemo will issue the Pemo Card virtually.
2.4 You and the person you request the Pemo card for (“Cardholder”) must follow our activation procedures in order to use the Pemo Card.
2.5 The Pemo Card is a debit card which the Cardholder may use to make online payments, effect ATM withdrawals in certain countries and purchase goods and services online related to business operations.
2.6 The Pemo Card is not a guarantee card, charge card or credit card, and is not for personal use.
2.7 The Card may also be used to carry out Point of Sale Transactions at all point-of-sale terminals and at such other physical readers or systems as Pemo may approve from time-to-time. The Cardholder’s signature, PIN, or other authentication on the Cardholder’s part may be required for each Point-of-Sale Transaction.
2.8 You undertake to be liable for all Point-of-Sale Transactions incurred on the Pemo Card regardless of whether the Point of Sale Transactions were properly authorised by the you or the Cardholder. Together with the Cardholder you acknowledge the ease of which unauthorised Point of Sale Transactions may be carried out and accept the risk of unauthorised Point of Sale Transactions.
2.9 Purchases are directly deducted from your Card Account.
2.10 Only you and the Cardholder, and no one else, may use the Pemo Card to effect transactions on the Pemo Card, subject to the terms and conditions of these Terms and Conditions.
2.11 The Pemo Card remains the property of Nymcard at all times.
2.12 The balance on your Card Account will be reduced by the amount of each online payment or ATM withdrawal made with the Pemo Card. You agree and procure that the Cardholder agrees not to use the Pemo Card to make any payment in excess of the balance of funds available on your Card Account.
2.13 Under no circumstances and whether with or without their knowledge will you and the Cardholder use or allow the use of the Pemo Card to effect any transaction which would contravene the laws of any jurisdiction. You agree and you procure that the Cardholder also agrees not to use the Pemo Card to pay debts incurred from online
gambling, wagering, betting or other unlawful activities, or in countries subject to sanctions (which mean any economic sanctions, laws, regulations, embargoes or restrictive measures administered, enacted or enforced from time to time.
3. CARD AND TRANSACTION LIMITS
3.1 Pemo may set an overall spend limit with respect to the Pemo Card ("Card Limit”) and may vary the Card Limit from time to time without notice to you or the Cardholder.
3.2 Pemo may set a transaction amount limit on the Pemo Card (“Single Transaction Limit”) and may vary the Single Transaction Limit from time to time without notice to you or the Cardholder.
3.3 The Cardholder may carry out a Pemo Card transaction only if there is sufficient balance in the Card Account, the transaction amount does not exceed the applicable Single Transaction Limit, and the total charges incurred on the Pemo Card shall not exceed the applicable Card Limit. The Cardholder shall not carry out or attempt to carry out any transaction that would result in any such limits being exceeded. If a transaction has been processed despite there being insufficient available balance in the Card Account, you shall be liable to Pemo for the shortfall and any other party for recovering or attempting to recover such shortfall.
3.4 Notwithstanding any applicable Card Limit and/or any applicable Single Transaction Limit, Pemo may in its sole and absolute discretion approve, authorise or allow any transaction to be carried out even if such transaction would result in the Card Account being overdrawn and/or the Card Limit being exceeded and/or the Single Transaction Limit being exceeded. However, Pemo may charge and debit from the Card Account, an overdraft fee based on the amount of the overdrawn balance existing at any time on the Card Account, and you shall pay Pemo such overdrawn amount and fee on demand.
3.5 Pemo has the sole discretion to determine whether the Card Limit and/or Single Transaction Limit has been exceeded, and any such decision shall be conclusive and binding on you and the Cardholder.
3.6 In calculating whether any Card Limit has been exceeded, Pemo may take into account the amount of any transaction not yet debited to the Pemo Card and of any authorisation given by you, the Cardholder and/or Pemo to a third party in respect of a prospective transaction.
4. EXPIRATION OF THE PEMO CARD
4.1 The Pemo Card shall expire on the date printed on the Pemo Card or as otherwise notified to you or the Cardholder. The Cardholder will not be able to use the Pemo Card after the date of expiry.
4.2 You undertake and procures that the Cardholder will undertake to inform Pemo in writing if they do not wish to have the Pemo Card renewed.
4.3 If no action is taken by you or the Cardholder’s part in relation to the automatic renewal of the Pemo Card, they are deemed to have agreed to the renewal of the Pemo Card and these Terms and Conditions shall continue to apply.
5. HOLD ON FUNDS ON THE PEMO CARD
5.1 Pemo may debit or place a hold on the balance on the Pemo Card and/or Card Account for the amount of a transaction either on the day it is presented to Pemo for payment (including without limitation, a presentation by electronic means) or on the day that Pemo receives notice of the transaction. Such an amount set aside or held is only an estimated sum of the actual transaction and may not be identical to the actual transaction.
5.2 Pemo shall have absolute discretion to place such amounts as are referred to in Clause 5.1 on hold for such periods as it deems fit. Upon the expiry of such periods as Pemo may determine, Pemo shall debit such amounts on
hold to the Card Account if the transactions in connection of which the amounts were placed on hold were presented to Pemo for payment, and Pemo shall credit such amounts placed on hold back to the Card Account if the transactions in connection of which the amounts were placed on hold were not presented to Pemo for payment, provided always that Pemo shall have the discretion to continue to place such amounts on hold if it is of the opinion that such transactions would be presented for payment within a reasonable time. For the avoidance of doubt, Pemo's right to debit the Card Account in respect of any transaction shall not be limited to the amount that was placed on hold in connection with that transaction. You agree that Pemo shall be entitled to debit the Card Account for the full amount of the transaction.
5.3 You or the Cardholder may not stop payment on a transaction or use any amount placed on hold. For the avoidance of doubt, the amount placed on hold in respect of any transaction shall not be treated as conclusive of the amount of the transaction that would eventually be debited to the Card Account and in particular, for transactions denominated in a Foreign Currency, and shall not be deemed that Pemo, Dapi and/or Visa (as applicable) has converted the transaction into the Card Account Currency on the day that the amount was placed on hold.
5.4 Where the amount of any transaction is denominated in a Foreign Currency, Pemo may decide in its sole discretion whether to hold that amount in that Foreign Currency or the Card Account Currency. It is hereby further agreed that Pemo shall have the right to increase at any time the amount that it would hold in respect of any transaction which is denominated in a Foreign Currency if Pemo is of the view that the amount initially held when converted into that Foreign Currency would not be sufficient to satisfy payment of that transaction in full.
6. PEMO'S DISCRETION
6.1 You agree and procure that the Cardholder agrees that Pemo is entitled, at any time in its sole and absolute discretion, and without giving any prior notice or reason, to refuse to approve any proposed transaction, notwithstanding that the applicable Card Limit and/or Single Transaction Limit would not be exceeded or if the balance in the Card Account would not be negative.
6.2 Pemo is entitled, in its sole and absolute discretion, without prior notice and without giving any reason, to:
6.2.1 suspend the Cardholder’s right to use the Pemo Card entirely or in respect of specific transactions; and/or
6.2.2 refuse to re-issue, renew or replace the Pemo Card, without, in any case, affecting your or the Cardholder’s obligations under these Terms and Conditions which will continue in force and there will be no refund of any fees paid if the right to use the Pemo Card is so suspended by Pemo or if the Pemo Card is not so renewed or replaced.
6.3 Pemo may, in its absolute discretion, request for the Pemo Card to be returned at any time, whereupon you shall procure that the Cardholder immediately cease all use of the Pemo Card and, in the case of a physical card, cut up and return the Pemo Card to Pemo.
6.4 Without prejudice to the other provisions of these Terms and Conditions, Pemo reserves the right, at any time, in its sole discretion and without prior notice and without giving reasons, to introduce, amend, vary, restrict or withdraw all or any of the benefits, services, facilities and privileges in respect of or in connection with the use of the Pemo Card and/or these Terms and Conditions.
7. CARD ACCOUNT FEES AND CHARGES
7.1 Pemo may at its discretion, charge and debit to the Card Account, the following fees:
7.1.1 any fee for the issuance, maintenance and renewal of the Pemo Card;
7.1.2 replacement fee for the Pemo Card;
7.1.3 administrative and transaction fees for Foreign Currency transactions and transactions processed outside the United Arab Emirates
7.1.4 administrative and transaction fees for ATM cash withdrawals;
7.1.5 administrative fee for the production or retrieval of any documents of and relating to the Card Account and/or Pemo Card; and
7.1.6 any fees and/or charges for any services provided or action taken by Pemo in connection with the Card Account and/or Pemo Card.
7.2 The amount of fees and charges payable by you shall be decided by Pemo and may change from time to time.
7.3 Without prejudice to the foregoing, Pemo may also charge to the Card Account (and the Account Limit shall be reduced accordingly):
7.3.1 any sum howsoever due and owed to Pemo by you; and/or
7.3.2 any fees, costs and/or expenses so incurred by Pemo to rectify any error in payment or record, whether arising from the reversal of any Card transaction posted on the Pemo Card or otherwise in relation to the use of the Pemo Card.
8.1 Each party will be responsible, as required under applicable law, for identifying and paying all taxes and other governmental fees and charges (and any penalties, interest, and other additions thereto) that are imposed on that party upon or with respect to the transactions and payments under these Terms and Conditions.
8.2 Should any member of the Pemo Group be required to file tax-related documents with any regulatory authorities, you shall provide to the relevant member(s) of the Pemo Group in a reasonably timely manner any required documents (where applicable) in support of such filing upon request.
8.3 You are liable to pay for all good and services taxes, value added taxes, all other taxes imposed or payable in respect of any amount charged to the Pemo Card (including late payments) and Pemo is entitled to charge all such amounts to the Card Account (and the Account Limit shall be reduced accordingly).
9. LOSS OR THEFT OF PEMO CARD / DISCLOSURE OF PIN
9.1 The Cardholder must safeguard the Pemo Card and must ensure that the card number, CVC, card expiry date and PIN is not disclosed to any person, and the Cardholder is solely responsible at all times for the security of the Pemo Card, and for all transactions and charges incurred on the Pemo Card.
9.2 The Cardholder undertakes to ensure that they:
9.2.1 will not reveal or disclose the PIN and will not write down the password, PIN or any other security information given to Pemo; and
9.2.2 will only release the Pemo Card, card number or PIN to make a transaction.
9.3 If the Pemo Card is lost or stolen or if you or the Cardholder believes that the Pemo Card, card number or PIN may be misused, they must:
9.3.1 without undue delay, notify and give Pemo written notice thereof;
9.3.2 assist in the recovery thereof or stop the use of the Pemo Card;
9.3.3 stop using the Pemo Card, card number or PIN immediately; and
9.3.4 make a formal police report upon the occurrence of such an event, and furnish Pemo with the police report and a written confirmation of such loss, theft or unauthorised disclosure and any other information Pemo may require.
9.4 In the event that the Pemo Card is stolen or lost, you shall be liable for all transactions made on the Pemo Card, whether authorised or otherwise incurred on the Card, until Pemo has been notified by you of such loss, theft, or unauthorised transaction and Pemo, you or the Cardholder blocks the Pemo Card.
9.5 The Cardholder must also notify Pemo immediately if the Pemo Card is damaged or not working properly.
9.6 Pemo may, in its sole and absolute discretion, issue a replacement Pemo Card or a new PIN upon such terms and conditions as it deems fit. You and the Cardholder may be required to comply with such card activation, security, and other procedures as may be prescribed by Pemo from time to time to re-enrol the replacement Pemo Card for use in respect of any payment service.
9.7 If the Pemo Card has been used without you or the Cardholder’s knowledge or permission, or is lost, stolen or if you or the Cardholder believes that the Pemo Card may have been misused, Pemo may disclose to law enforcement agencies any information it believes could be relevant.
10 PROBLEMS WITH GOODS AND SERVICES
10.1 Pemo does not act as an agent for any merchant of the goods and/or services purchased using the Pemo Card. You and the Cardholder agree that Pemo is not liable in any way should any problems with the goods and services purchased with the Pemo Card be encountered. You and the Cardholder (as applicable) are to seek redress directly from such merchant in respect of such goods and services.
10.2 Notwithstanding the non-delivery, non-performance or defects in any such goods and services purchased using the Pemo Card, Pemo shall been titled to debit the full amount of such goods and services from the Card Account. Your liability owing to Pemo is not affected by any dispute or counterclaim or right of set off which you or the Cardholder may have against such merchant.
10.3 You and the Cardholder acknowledge and agree that Pemo is not responsible for any benefits, discounts or programmes of or offered by any merchant, and Pemo makes no representation as to the quality, provision, or performance of any such goods or services. You and the Cardholder agree to resolve any complaints about the goods and/or services with the merchant directly, without referring to Pemo.
11. EXCLUSION OF LIABILITY
11.1 Pemo shall not be responsible or liable in any way to you or the Cardholder for any inconvenience, loss, damage, cost or expense of any nature or embarrassment or injury suffered or incurred by you or the Cardholder, in each case whether foreseeable or not, resulting from, arising out of or in connection with any of the following:
11.1.1 if any merchant, establishment, or any other person refuses to accept or honour (or delays in accepting or honouring) the Pemo Card, card number or PIN for any reason;
11.1.2 any refusal or delay by Pemo or any Network to authorise, process, facilitate or approve any transaction;
11.1.3 if you or the Cardholder are deprived of the use of any goods, services, machinery, equipment, products and/or systems (whether electronic, telecommunicative or otherwise) as a consequence of any action, omission or delay by any merchant, establishment, Pemo, any Network or any other party;
11.1.4 Pemo is unable to perform its obligations under these Terms and Conditions due, directly or indirectly, to the failure, defect or malfunction of any machine, system of authorisation, data processing or communication system or transmission link or any industrial dispute, war, Act of God or anything outside the control of Pemo, its servants or agents;
11.1.5 any damage to or loss of or inability to retrieve any data or information that may be stored in any microchip or circuit howsoever caused or any failure in the performance or function or breakdown or disruption of any of the Pemo's computers (whether hardware or software), machinery, equipment, products and/or systems (whether electronic, telecommunicative or otherwise) maintained by, used for, by Pemo or in connection with Pemo's business or otherwise whatsoever, including but not limited to the failure or inability of such computers, machinery,
equipment, products and systems or any one or more of them to accept, recognise, store, process and/or transmit dates or data with respect to dates; and
11.1.6 the unauthorised use of the Pemo Card and/or Card Account or any services or facilities in connection therewith, or any transaction effected by an unauthorised person.
11.2 Without prejudice to the generality of the provisions of this Clause, Pemo is not liable in any way to you or the Cardholder for any loss, damage, cost or expense of any nature arising out of or in connection with the use of the Pemo Card and/or these Terms and Conditions except where (and only to the extent that) it has been conclusively established in the courts of the DIFC that the aforesaid has occurred solely owing to gross negligence or wilful default on Pemo’s part.
12. REFUNDS AND CHARGEBACKS
12.1 If you or the Cardholder wishes to receive a refund after conducting a transaction with a merchant via the Pemo Card ("Refund"), you or the Cardholder should approach the merchant directly with the request. If the merchant in its discretion decides to process the request for a Refund, Pemo will credit the Card Account with the Refund after Pemo receives the relevant amount from the merchant. Neither Pemo nor NIUM shall be obliged to investigate or defend the validity and/or value of any Refund.
12.2 If you or the Cardholder wishes to receive a refund from a merchant in respect of a disputed transaction ("Chargeback"), you or the Cardholder should approach Pemo with the request and supporting documents relating to the transaction. If the dispute is resolved in your or the Cardholder’s favour, Pemo will credit the Card Account with the Chargeback after Pemo receives the Chargeback. You and the Cardholder acknowledge and agree that any decision of Visa regarding the validity and value of any Chargeback is valid and binding. Neither Pemo nor NIUM shall be obliged to investigate or defend the validity and/or value of any Chargeback.
12.3 You and the Cardholder acknowledge and agree that the amount of any Refund or Chargeback received pursuant to any transaction made under the Pemo Card may be different to the amount originally processed on the Pemo Card due to exchange rate fluctuations, transaction fees, or the amount received with respect to any Refund or Chargeback being a partial refund of the original amount. You and the Cardholder acknowledge and agree that Pemo will not be responsible for any such shortfall.