Terms of service

This Cardholder Agreement (the “Agreement”) outlines the terms and conditions of service provided to you by UX Commercial Services LLC (“UX” or “We”), a Money Services Business that acts as an authorized dealer of Visa Latin Pay prepaid cards (the “Cards”). UX is duly registered with the Financial Crimes Enforcement Network (FINCEN) to act as an MSB pursuant to the Bank Secrecy Act (BSA) regulations. 

The Cards are issued by Latin Pay S.A. (the “Issuer”), an Argentine company that has an agreement with Prisma Medios de Pago S.A., a Visa licensee in Argentina, to issue prepaid cards in Argentine pesos under a BIN sponsorship model. The Issuer is registered with the Argentine Financial Information Unit (UIF). 

The Cards are linked to the Latin Pay app (the “App”), from which Cardholders will be able to perform different actions described below. The App is an additional service provided by UX under this Agreement, but necessary for you to use the Cards. The terms of use of the App are also described in this Agreement. 

For the purposes of this agreement, 

• “Users” means those individuals who have created a user on the App and completed the onboarding process, but have not yet activated their Card. 

• “Cardholders” means the Users who already have their Card and performed the activation on the App, being the Card enabled to make purchases. 

1. The Card 

(i) The Card is not a credit, debit, or purchase card, and does not accept purchases in installments. Payments made will be debited from the funds allocated to the Card as described in Sections 5 and 6 of this Agreement. 

(ii) The card distributed by UX is intended for non-Argentine residents visiting Argentina as tourists. 

(iii) The Card is an unnamed plastic whose nomination must be made digitally through the App via the onboarding process. 

(iv) The Card can be used to purchase goods and services in merchants adhered to the Visa network in Argentina. The Card is nominated in Argentine pesos and may be used to make cardholder present payments, by internet, telephone or any other enabled channel. 

2. User Creation 

The App allows the creation of users through native authentication by entering an email and creating a password, or by accessing through an existing Google, Facebook or Apple account. 

Once the account is created, Users must complete the onboarding process, entering all the necessary data and information, according to UX’s KYC policy, which is aligned with international anti-money laundering and anti-terrorist financing standards. 

UX reserves the right to request additional documentation and information from the User in order to comply with the applicable regulations on anti-money laundering and anti-terrorist financing. 

The User shall provide accurate, true and complete information and documents requested. All information or documentation provided to UX by the User shall be considered as a sworn statement. However, UX may request proof or additional information to complete or corroborate the information provided by the User, also after exceeding certain amounts of monthly transactions made by the User. 

UX may reject the identity validation request in case of detecting inconsistencies or falsehoods in the data or documentation provided by a User, or in case the User does not provide the requested additional data or documentation. 

3. Card Delivery 

There are two Card delivery methods: (i) Pick-up at a store where UX distributes the Cards to its customers who do not yet have the status of User, and who must therefore proceed with its creation as described in the previous section. (ii) Delivery service, after a User who has successfully completed the onboarding process, makes a Card delivery request in the App. For case (ii), if the package containing the Card is damaged or violated, the User must refuse to receive it and immediately communicate this fact to UX through the customer service channels. 

4. Card Activation 

In order to use the Card, Users must previously activate it in the App. To do so, Users must link the Card to their user, entering the card credentials (16-digit card number, expiry date and CVV code).

 Once the Card is linked, it will be associated and nominated with the User’s data. 

5. Add funds to the App Balance and Allocation to the Card 

(i) Top-up 

In order to use the Card, Cardholders must first add funds to their balance. To do so, they must go to the blance of the App and perform a top-up transaction through the enabled payment methods. 

The transaction will be made in U.S. dollars and, once the payment is approved, it will be immediately reflected in such currency in the App’s balance. 

The top-up can only be made through a payment method whose holder’s identity matches the User’s identity. 

(ii) Allocation of funds to the Card 

In order to make purchases, Cardholders must allocate part or all of the balance reflected in the App to the Card. In this way, an allocation of funds will be made in Argentine pesos, according to the exchange rate reflected at that moment in the App. 

Cardholders will at all times see reflected in the App how many Argentine pesos they have credited to the Card, and how much remaining balance they have in US dollars. 

The funds allocated to the Card may only be used for purchases. No cash withdrawals or refund requests will be allowed. 

6. Card Use 

(i) After being activated, the Card may be used within the validity period printed on its front, subject to the balance of funds allocated to the Card, and within the limits of daily use for operations determined by UX, the Issuer and/or by the networks of associated services in Argentina. 

(ii) The Card is personal and non-transferable. The Cardholder shall be solely responsible for the custody and confidentiality of the Card. Therefore, the Cardholder is responsible for all operations carried out with the Card.

 (iii) Use of the Card will be subject to the availability of the Visa network and the network of merchant acquirers, a circumstance beyond the control of UX and the Issuer. Approval of the transaction will be made in accordance with specific procedures depending on the type of transaction or payment channel used. 

(iv) The amounts of the transactions made with the Card and the fees will be debited immediately from the funds in Argentine pesos allocated to the Card, in total and in a single debit. If the funds allocated to the Card are not sufficient, the transaction will not be authorized. Transactions made with the Card may be consulted through the App. 

(v) The Card will be valid from the date of its activation until the expiry date indicated on its front. Once the validity period has expired, the Card will be automatically cancelled (the “Cancellation by Expiry”). Upon expiration of the Card, the funds allocated to the Card will be frozen and any attempted transactions will be declined. 

7. Pausing and reporting the Card 

Within the App, Cardholders may pause and reactivate the Card according to their needs or convenience, or in case of loss of the Card. Any transaction attempted when the Card is paused will be rejected.

Likewise, in case of loss, stolen, or any damage to the security of the Card, the Cardholder must report it immediately through the App or through the enabled customer service channels. Once the Card has been reported, the Card will be immediately cancelled (the «Cancellation by Report», and together with the Cancellation by Expiry, the «Cancellation»), the funds allocated to the Card will be frozen and any transaction attempted to be made with a reported Card will be declined. 

The Cardholder hereby agrees that will be liable with the funds allocated to the Card for any purchase made with the Card prior to the Card being reported, and neither UX nor the Issuer shall be liable for such transactions. 

8. New Card Request 

Upon a Cancellation, the User may request a new Card, which will be delivered by any of the methods described in Section 3 of this Agreement. For such purpose, the remaining funds that would have been allocated to the cancelled Card and that were frozen as of the Cancellation will be allocated to the new Card. The costs arising from this request and delivery of a new Card will be debited from the remaining funds that would have been allocated to the cancelled Card. 

9. Balance Refund 

Cardholders may choose to request a refund of the remaining balance that is expressed in the App in U.S. dollars. To do so, they must indicate a bank account of their own for UX to proceed with a deposit to such account. 

10. Personal Data Protection 

All personal data provided by Users will be treated in accordance with the Privacy Policy which can be consulted [here]. UX will act as the controller for the processing of this personal data. 

Users hereby agree that personal data may be disclosed and/or shared with affiliates, subsidiaries or related companies, and/or with third parties with which UX or the Issuer has a contractual relationship, such as Prisma Medios de Pago S.A. in its capacity as licensee of Visa. Likewise, they may be disclosed or reported to competent authorities for the prevention of money laundering and financing of terrorism or other competent authorities when there is a legal or regulatory obligation to do so. 

11. Customer Service Channels 

Users may access customer service channels to process queries and/or claims related to this service. The customer service channels are specifically indicated in the Help section of the App, being these telephone, social networks and Whatsapp. 

12. Limitation of liability 

(i) UX does not guarantee uninterrupted access to the Card usage channels, which may be unavailable due to technical inconveniences, internet failures, unavailability of the Visa network, acquirer networks or any other reason, including those beyond UX’s or the Issuer’s control. 

(ii) Users shall hold UX and the Issuer harmless from any and all liability for direct damages, lost profits or any other damages or losses they may suffer in connection with Card transactions made, declined or restricted. 

13. Considerations with respect to the funds allocated to the Card 

The Argentine pesos allocated to the Card shall be deposited at all times in a demand account owned by the Issuer and opened in a financial institution in Argentina. For all purposes, it is clarified that Users are not offered a payment account, and immediate transfers or payments with transfer cannot be made through the App, but only payments through the use of the Cards to merchants adhered to the Visa network. 

14. Law and courts 

This Agreement shall be governed by and construed accordance with the laws of the State of New York. 

UX and the Users irrevocably submit to the exclusive jurisdiction of the Courts of the State of New York in respect of any claim, dispute or difference arising out of, or in connection with, this Agreement. 

5. Modification of terms of service 

UX has the right to modify all or part of the terms of this Agreement at any time. In the event of any modification, UX will notify the User at least 30 calendar days prior to the effective date of any such modification to the User’s registered email address. You agree that UX’s notification to you at such email address or through a communication when you log in to the App shall be deemed sufficient notice.

© Latin Pay SA  |  Todos los derechos reservados

© UX Commercial Sevices  |  All rights reserved

© Latin Pay SA  |  Todos los derechos reservados

© UX Commercial Sevices  |  All rights reserved