Terms and Conditions

1.1 About Us

NewPay ("we," "us," or "our platform") is a global financial technology platform focused on digital asset payment solutions. We are committed to providing users with secure, convenient digital asset consumption experiences.

1.2 Definitions

In these Terms:

• "Terms" means these Terms and Conditions and any subsequent amendments;
• "Services" means all products and features provided by NewPay, including but not limited to virtual cards, physical cards, gift cards, deposits, withdrawals, etc.;
• "User" or "you" means any individual or entity accessing or using NewPay services;
• "Account" means the personal account you obtain after registering and completing identity verification on the NewPay platform;
• "Digital Assets" means cryptocurrencies or stablecoins such as USDT, USDC, etc.;
• "KYC" means Know-Your-Customer, the identity verification process we conduct to meet regulatory requirements;
• "Wallet Balance" means the digital assets you hold on the NewPay platform;
• "Card Balance" means the funds transferred from your Wallet Balance that are available for use with payment cards;
• "Payment Card" means virtual or physical cards provided by NewPay that support payments through the Visa or Mastercard network.

1.3 Acceptance of Terms

You can indicate your acceptance of these Terms by:

• Clicking "I agree" or a similar button indicating acceptance;
• Registering for a NewPay account;
• Accessing or using any NewPay service;
• Otherwise indicating agreement.

1.4 Amendments to Terms

We reserve the right to modify these Terms at any time. Modified Terms will take effect upon posting, with the specific effective date noted in the revised version. For significant changes, we will notify you in advance through one or more of the following methods:

• Posting a notice in a prominent location on the platform;
• Sending an email to your registered email address;
• Sending an in-app push notification.

Your continued use of our services after the Terms have been modified indicates your acceptance of the modified Terms. If you do not agree with the modifications, you should immediately cease using our services.

2.1 Platform Positioning

NewPay is a Web3 financial technology platform designed to connect cryptocurrencies with traditional payment systems, enabling users to use digital assets for everyday consumption. Our core functionality is converting digital assets such as USDT and USDC into payment card balances that can be used globally.

2.2 Main Services

We provide the following main services:

• 2.2.1 Virtual Cards

  • Instantly issued digital payment cards that can be linked to Apple Pay, Google Pay, and other mobile payment tools;
  • Support for online payments and authorized offline merchant transactions;
  • Multiple card tiers with different limits and features.

• 2.2.2 Physical Cards

  • Physical plastic cards usable at Visa/Mastercard-supported POS terminals and ATMs worldwide;
  • Linked to your NewPay account, sharing the card balance;
  • Equipped with chip and contactless payment functionality.

• 2.2.3 Gift Cards

  • Transferable prepaid cards that can be sent to other NewPay users;
  • Single-use or rechargeable;
  • Support for customized amounts and personalized designs.

• 2.2.4 Wallet Services

  • Storage of supported digital assets including USDT, USDC, etc.;
  • Deposit, withdrawal, and asset conversion functionality;
  • Real-time balance and transaction history display.

• 2.2.5 Other Services

  • Transaction monitoring and security alerts;
  • Spending analysis and reports;
  • Customer support and dispute resolution;
  • User referral and reward programs.

2.3 Service Availability

We strive to provide continuous, stable services but do not guarantee that services will be uninterrupted or error-free. Services may be affected by:

• System maintenance and upgrades;
• Network or device failures;
• Force majeure events;
• Blockchain network congestion or failures;
• Payment network or banking system issues.

For planned system maintenance, we will notify you in advance. For unexpected interruptions, we will restore services as quickly as possible and promptly notify affected users.

2.4 Service Restrictions

Our services may be unavailable or restricted in certain countries/regions. Currently, we do not provide services to residents of:

• Mainland China;
• United States;
• Countries/regions under international sanctions (such as North Korea, Iran, Syria, etc.);
• Other regions where providing such services is prohibited by laws and regulations.

This restriction list may be updated at any time. It is your responsibility to ensure that you are legally using our services in your region.

3.1 Registration Eligibility

To register for a NewPay account, you must:

• Be at least 18 years old or the legal age of majority in your jurisdiction;
• Have full legal capacity;
• Not be on our service restriction region list;
• Not be on any sanctions list or regulatory blacklist.

3.2 Registration Process

Registering for a NewPay account requires completing the following steps:

1. Providing a valid email address and phone number;
2. Creating a secure password;
3. Agreeing to these Terms and our Privacy Policy;
4. Completing the identity verification (KYC) process.

3.3 Identity Verification (KYC) Requirements

To comply with global Anti-Money Laundering (AML) and Know-Your-Customer (KYC) regulations, we require all users to complete an identity verification process, which is performed by our partner. The verification process may include:

• Submitting government-issued identity documents (such as passport, ID card);
• Completing facial recognition verification;
• Providing proof of address (applicable for certain service levels);
• Answering other identity-related questions.

Accounts that have not completed KYC will have limited functionality and will not be able to apply for cards, withdraw funds, or make payments, although they may deposit funds in advance.

3.4 Account Security

You are responsible for maintaining the security of your account, including:

• Using strong passwords and changing them regularly;
• Enabling two-factor authentication (2FA);
• Protecting your login credentials and private keys;
• Ensuring the security of your devices and software;
• Promptly reporting suspicious activities.

If you discover unauthorized account activity, please immediately contact our customer support team.

3.5 Account Freezing and Termination

We may freeze or terminate your account in the following situations:

• Violation of these Terms or other platform policies;
• Providing false or misleading information;
• Suspected fraud or illegal activities;
• Long-term inactivity (no transactions for over 12 months);
• At the request of regulatory authorities;
• Other reasonable causes.

During account freezing, you may not be able to access account funds or use platform services. We will notify you of the reason for freezing and required measures when reasonably feasible.

3.6 Account Closure

You may request to close your NewPay account at any time. Before closure, you need to:

• Transfer all card balances back to your wallet balance;
• Withdraw or transfer out all wallet balances;
• Resolve any pending transactions or disputes;
• Complete identity verification (if not already done).

After account closure, we will retain certain information in accordance with applicable laws and our data retention policy. Please refer to our Privacy Policy for details.

4.1 Account Structure

A NewPay account consists of two main components:

• Wallet Balance: Stores your digital assets (USDT, USDC, etc.);
• Card Balance: Funds transferred from your wallet balance for use with payment cards.

This dual-layer structure allows you to better control spending and enhance security.

4.2 Deposits

You can deposit funds to your wallet balance through:

• Transferring supported digital assets (USDT, USDC, etc.) from external cryptocurrency wallets;
• Transacting through supported blockchain networks (such as Ethereum, Tron, Solana, etc.);
• Transfers from other NewPay users.

When making deposits, please ensure:

• You use the correct wallet address and network;
• You comply with minimum and maximum deposit limits;
• You consider potential confirmation delays due to network congestion.

4.3 Card Funding

To use payment cards, you need to transfer funds from your wallet balance to your card balance:

1. Select the target card in the application;
2. Enter the funding amount;
3. Confirm the transfer.

Card funding is typically instantaneous but may experience brief delays during system maintenance or peak periods.

4.4 Payments and Spending

When using NewPay cards for spending:

• Ensure sufficient card balance;
• Comply with daily/monthly transaction limits for the card;
• Understand usage restrictions for different merchant categories;
• Be aware of potential additional fees for cross-border transactions.

Certain high-risk merchant categories may be restricted, including but not limited to gambling, adult content, cryptocurrency exchanges, etc

4.5 Withdrawals

You can withdraw your wallet balance through:

• Transfers to external cryptocurrency wallets;
• Cash withdrawals at ATMs using physical cards (if applicable);
• Conversion to other supported digital assets.

Withdrawals may be subject to:

• Daily/monthly withdrawal limits
• Minimum withdrawal amount requirements;
• Network fees;
• Identity verification level restrictions.

4.6 Transaction Confirmation and Irreversibility

Please note:

• Blockchain transactions are typically irreversible once confirmed;
• Card transactions may be subject to payment network rules;
• Incorrect wallet addresses or network selections may result in permanent loss of funds.

We strongly recommend carefully verifying all information before conducting any transaction.

4.7 Transaction Monitoring

To comply with regulatory requirements and protect platform security, we monitor transaction activities. Behaviors that may trigger review include:

• Large or frequent transactions within a short period;
• Transactions related to high-risk regions or entities;
• Unusual transaction patterns or usage behavior;
• Activities potentially violating our policies.

If a transaction is flagged as suspicious, we may suspend processing and request additional information from you.

5.1 Fee Structure

Using NewPay services may incur the following fees:

5.2 Fee Changes

We reserve the right to adjust fees. Fee changes will be notified through:

• Platform announcements;
• Email notifications;
• In-app pushes.

Significant fee changes will be announced 3 days in advance. Continued use of services indicates acceptance of the new fee standards.

5.3 Third-Party Fees

When using our services, you may also need to pay third-party fees, including but not limited to:

• Blockchain network transaction fees;
• Fees charged by banks or payment processors;
• Currency exchange fees;
• Data fees from telecommunications operators;
• Fees charged by ATM operators.

These fees are beyond our control and may change without notice.

5.4 Tax Responsibilities

You are responsible for determining and paying all applicable taxes related to using our services, including but not limited to:

• Capital gains tax that may arise from digital asset transactions;
• Value-added tax or sales tax;
• Income tax;
• Other applicable taxes.

NewPay does not provide tax advice and recommends consulting professional tax advisors to understand your specific tax obligations.

6.1 Card Activation and Validity

• Virtual cards are activated immediately upon successful application;
• Physical cards need to be activated through the application after receipt;
• Cards typically have a validity period of 2-4 years, with the specific date printed on the card or displayed in the application;
• Before expiration, we will automatically renew your card (unless you instruct otherwise).

6.2 Card Usage Limitations

Your cards are subject to the following limitations:

• Daily/monthly transaction amount limits (based on card tier and usage history);
• Single transaction amount limits;
• Specific merchant category restrictions;
• Geographical restrictions (sanctioned countries/regions).

These limitations may be adjusted due to regulatory requirements, risk assessments, or your usage history.

6.3 Prohibited Card Uses

NewPay cards are strictly prohibited from being used for:

• Any illegal activities or actions violating applicable laws;
• Money laundering, terrorist financing, or tax evasion;
• Circumventing foreign exchange controls or sanctions;
• Gambling (in regions where it is legally prohibited);
• Purchasing illegal goods or services;
• Unauthorized commercial activities;
• Fraud or abuse of platform policies.

Violating these provisions may result in account freezing, termination, and potential legal liability.

6.4 Card Security

Protecting your card security is your responsibility:

• Do not share card details (card number, expiration date, CVV code) with others;
• Safeguard physical cards to prevent loss or theft;
• Regularly check transaction records and promptly report suspicious activities;
• Avoid using cards on insecure websites or devices;
• Immediately freeze cards through the application if lost.

6.5 Special Provisions for Gift Cards

Gift cards have the following special provisions:

• Once purchased, they are non-refundable;
• They can be transferred to other NewPay users;
• They cannot be transferred again after being bound by the recipient;
• They typically have a validity period of 2-4 years (viewable in the application);
• They cannot be exchanged for cash or other digital assets.

7.1 Refund Policy

NewPay does not directly provide refund services. Refund processing depends on the transaction type:

7.2 Dispute Resolution Process

If you have a dispute regarding a transaction, please follow these steps:

1. Initial Contact: Contact us through the in-app customer service function, providing transaction details and the reason for the dispute;
2. Evidence Submission: Provide relevant evidence, such as transaction records, communications with merchants, etc.;
3. Preliminary Review: We will conduct a preliminary review and respond within 5 business days;
4. Investigation Phase: Complex cases may require a 45-90 day investigation period;
5. Mediation: When necessary, we will coordinate with payment networks, merchants, or other relevant parties;
6. Final Decision: After the investigation is complete, we will notify you of the result and next steps.

7.3 Fraudulent Transactions

If you discover unauthorized transactions:

• Immediately freeze the relevant card through the application;
• Contact customer support within 12 hours of discovery;
• Provide detailed transaction information and possible evidence of fraud;
• Cooperate with our investigation, which may require submitting police reports or other documents.

For confirmed fraudulent transactions, we will process refunds according to applicable laws and payment network rules.

7.4 Liability Limitations

In dispute and fraud cases, your liability may be affected by:

• The timeliness of reporting unauthorized transactions;
• Compliance with account and card security regulations;
• Consumer protection provisions under applicable laws;
• Dispute resolution rules of payment networks.

8.1 Regulatory Compliance

NewPay is committed to complying with all applicable laws and regulations, including but not limited to:

• Anti-Money Laundering (AML) and Know-Your-Customer (KYC) regulations;
• Counter-Terrorist Financing (CTF) requirements;
• Data protection and privacy regulations;
• Payment services and electronic money regulations;
• Consumer protection regulations;
• Applicable sanctions programs.

We may adjust service content, availability, or usage conditions based on regulatory requirements.

8.2 Risk Control Measures

To protect platform and user security, we implement the following risk control measures:

• Transaction monitoring systems to identify suspicious activities;
• Multi-level identity verification;
• Device fingerprinting and behavioral analysis;
• Geolocation verification;
• Transaction limit and threshold controls;
• Real-time fraud detection.

These measures may result in some transactions being delayed or rejected, especially when flagged as high-risk by the system.

8.3 Suspicious Activity Handling

When we detect suspicious activities, we may take the following measures:

• Suspend or limit account functionality;
• Request additional identity verification or transaction proof;
• Freeze related funds until the investigation is complete;
• Refuse to process suspicious transactions;
• Report to regulatory authorities when legally required.

We will notify you of these measures and their reasons to the extent reasonably feasible.

8.4 Sanctions Compliance

We do not provide services to individuals, entities, or regions subject to international sanctions. This includes but is not limited to:

• Individuals or entities on the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctions lists;
• Subjects sanctioned by the United Nations, European Union, or other international organizations;
• Residents of comprehensively sanctioned countries/regions.

We regularly screen users and transactions to ensure sanctions compliance.

8.5 User Compliance Responsibilities

As a user, you are responsible for:

• Providing true and accurate identity information;
• Using our services only for legal purposes;
• Complying with laws and regulations in your region;
• Promptly responding to our compliance investigation requests;
• Not using our services to circumvent any legal restrictions or sanctions.

9.1 Rewards Program Overview

NewPay offers various user reward mechanisms, including but not limited to:

• Spending cashback;
• Referral rewards;
• Loyalty points;
• Limited-time promotional activities.

Specific reward program details will be published in-app and on the official website and may be updated periodically.

9.2 Cashback Rules

Spending cashback is subject to the following rules:

• Cashback rates vary by card tier and spending category;
• Cashback is issued to your wallet in the form of USDT or platform points;
• Certain merchant categories or transaction types may not qualify for cashback;
• Cashback is typically issued within 3-5 business days after transaction settlement;
• Disputed or refunded transactions do not qualify for cashback, and issued cashback may be withdrawn.

9.3 Referral Program

By referring new users to join NewPay, you can earn rewards:

• New users must register through your unique referral link or code;
• New users must complete identity verification and meet specified activity criteria;
• Referral rewards may include one-time bonuses and/or ongoing commissions;
• Referral rewards will be issued to your wallet after conditions are met.

9.4 Reward Limitations

Reward programs are subject to the following limitations:

• We reserve the right to adjust or terminate any reward program with advance notice;
• Abusive behavior (such as fake transactions, multiple accounts) will result in reward cancellation and potential account penalties;
• Rewards may have caps (such as maximum monthly cashback amount);
• Users in certain regions may not be eligible for specific reward programs;
• Employees and affiliates may not be eligible for rewards.

9.5 Tax Implications

You are responsible for understanding and fulfilling tax obligations related to rewards. In some jurisdictions, rewards may be considered taxable income. NewPay does not provide tax advice and recommends consulting professional tax advisors.

10.1 Platform Intellectual Property

NewPay and its affiliates own all intellectual property related to the platform, including but not limited to:

• Trademarks, service marks, and trade names;
• Copyrighted materials (such as text, images, videos, audio);
• Patents and patent applications;
• Trade secrets and know-how;
• Software code and user interfaces;
• Domain names and applications.

You may not use, copy, modify, or distribute these materials without our express written permission.

10.2 Limited License

We grant you a limited, non-exclusive, non-transferable, revocable license solely for personal use of our services. This license does not permit:

• Commercial use or sublicensing;
• Modification or creation of derivative works;
• Reverse engineering or decompilation;
• Removal of copyright or other proprietary notices;
• Use for any illegal or unauthorized purpose.

10.3 User Content

For content you submit or share through the platform (such as feedback, comments):

• You retain ownership of such content;
• You grant us a worldwide, royalty-free, perpetual, irrevocable license to use, copy, modify, and distribute such content for providing and improving services;
• Reverse engineering or decompilation;
• You confirm that the content does not infringe on any third-party rights.

10.4 Brand Usage Restrictions

Without our prior written permission, you may not:

• Use NewPay's name, logo, or trademarks;
• Imply a relationship with or endorsement by NewPay;
• Use our brand elements in any advertising, promotional, or commercial materials.

10.5 Third-Party Intellectual Property

Our services may contain third-party intellectual property, such as Visa and Mastercard logos. This content is protected by the terms and rights of their respective owners. We do not grant you any rights to use these third-party intellectual properties.

11.1 Services Provided 'As Is'

NewPay services are provided 'as is' and 'as available' without warranties of any kind, whether express, implied, or statutory, including but not limited to warranties of merchantability, fitness for a particular purpose, and non-infringement.

11.2 Limitation of Liability

To the maximum extent permitted by law, NEWPAY and its affiliates, directors, employees, and agents shall not be liable for:

This applies regardless of whether these damages are based on contract, tort (including negligence), strict liability, or other legal theory, and regardless of whether we have been advised of the possibility of such damages.

11.3 Specific Liability Disclaimers

We specifically disclaim liability for:

11.4 User Indemnification

You agree to indemnify and hold harmless NEWPAY and its affiliates, directors, employees, and agents from any claims, damages, losses, liabilities, costs, and expenses (including reasonable attorney fees) arising from:

• Your use of our services;
• Your violation of these Terms;
• Your infringement of any third-party rights;
• Your violation of any applicable laws or regulations.

We reserve the right to assume, at our own expense, the exclusive defense and control of any matter subject to indemnification by you.

12.1 Governing Law

These Terms are governed by the laws of the Hong Kong Special Administrative Region of China, without regard to conflict of law principles. The United Nations Convention on Contracts for the International Sale of Goods does not apply to these Terms.

12.2 Dispute Resolution Process

We encourage resolving disputes through the following progressive process:

13.1 Entire Agreement

These Terms constitute the entire agreement between you and NewPay regarding the use of services and supersede all prior or contemporaneous communications, proposals, and agreements, whether oral or written.

13.2 Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable, that provision shall be deemed severed from these Terms and shall not affect the validity and enforceability of the remaining provisions.

13.3 Waiver

Our failure to enforce any right or provision of these Terms will not constitute a waiver of such right or provision. Any waiver must be in writing and signed by an authorized representative of NewPay.

13.4 Assignment

You may not assign or delegate any rights or obligations under these Terms without our prior written consent. We may freely assign these Terms without your consent.

13.5 Force Majeure

Neither party shall be liable for any delay or failure to perform obligations due to events beyond reasonable control, including but not limited to natural disasters, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, strikes, epidemics, network failures, or supply shortages.

13.6 Relationship

These Terms do not create an agency, partnership, joint venture, or employment relationship. You have no authority to bind NewPay in any way.

13.7 Notices

We may send notices to you via:

• Email (to your registered email address);
• In-app messages or push notifications;
• Platform announcements;
• Mail to the address you provided.

You may send notices to us via:

• Email to support@newpay.org;

13.8 Language Versions

These Terms may be available in multiple languages. If there are discrepancies between different language versions, the English version shall prevail.

If you have any questions or suggestions regarding these Terms, please contact us through: