Bitzaro Card – Terms of Use

Bitzaro Card – Terms of Use 

Effective Date: 24 April 2025 

1. Introduction 

Welcome to the Bitzaro Card, a payment solution powered by Bitzaro Limited (“Bitzaro”). This Card (as defined below) allows you to seamlessly convert  supported digital assets into fiat currency for use in online and in-store  purchases, ATM withdrawals, and more wherever is accepted. 

These Terms of Use (“Terms”) govern your application for, activation of, and  use of the Card. By requesting or using the Card and our Services (as defined  below), you confirm that you have read, understood, and agreed to these  Terms in full. 

Bitzaro affirms that it holds [or is in the process of obtaining] the appropriate  licensing or registration, if required, under the Hong Kong Securities and  Futures Ordinance (Cap. 571), Payment Systems and Stored Value Facilities  Ordinance (Cap. 584), or other relevant regulatory frameworks. 

2. Definitions 

• Card: The Bitzaro Card provided to you for transactions. 
• Digital Assets: Cryptocurrencies such as Bitcoin, Ethereum, Tether, Binance Smart Chain and other cryptocurrencies and digital assets supported by Bitzaro. 
• Fiat Currency: Government-issued currency accepted by Bitzaro. • Services: All services provided by Bitzaro including issuance of the Card,  digital asset trading, conversion, wallet services, and support. 
• KYC: Know Your Customer collection of information and verification  procedures to establish identity and assess risk. 
• AML/CFT: Anti-Money Laundering and Counter- Financing of Terrorism regulations. 

3. Eligibility 

To apply for or use the Card, you must:

• be at least 18 years old and capable of entering into a legally binding  agreement under Hong Kong law; 
• successfully complete the KYC procedures; 
• not be subject to any trade, economic, or financial sanctions, or listed on  any prohibited or sanctioned lists; and 
• use the Card solely for lawful purposes and in accordance with applicable  laws and regulations. 

4. Card Issuance and Activation 

• The Card may be issued as a physical card. 
• You must activate the Card through Bitzaro’s designated channels before  usage. 
• All Cards are issued with an expiration date and may be subject to renewal  terms and fees. 

5. Services and Card Usage 

• You must exercise due care in using the Card and not permit unauthorized  use. 
• The Card may be used for purchases, ATM withdrawals, and online  payments where accepted. 
• Digital Assets held in your Bitzaro wallet will be converted to fiat currency  at the prevailing exchange rate at the time of transaction. 
• Bitzaro reserves the right to impose transaction limits and block or decline  certain transactions in accordance with risk management practices. • If you link your Bitzaro Card to a third-party wallet such as Apple Pay or  Google Pay, your use of such services is governed by their respective  Terms of Service. Bitzaro’s separate Wallet Terms of Service for Apple  Pay and Google Pay also apply.

6. Fees and Charges 

Below is a non-exhaustive list of applicable fees: 

*Additional fees may apply and are subject to change with prior notice. 

** A full fee schedule is available on the Bitzaro website and may be updated  with 30 days’ prior notice, as required by the Hong Kong Consumer Council’s  guidelines. 

7. Digital Asset Transactions 

• All crypto-to-fiat conversions are final and non-reversible. 
• Exchange rates are determined by Bitzaro and are subject to market  volatility. 
• Bitzaro is not liable for any fluctuations in the value of Digital Assets. 

8. Refund and Reversal Policy 

• Transactions made with the Card are generally final and irreversible. • Refunds from merchants are credited back to your Card balance. • Crypto-to-fiat conversions are non-reversible once executed.
• In case of suspected unauthorized transactions, notify us within 24 hours for investigation. 

9. Loss or Theft of the Card 

• Immediate Action: You must notify Bitzaro immediately via the official  support channel listed on our website. 
• Temporary Block: Upon notification, we will promptly block your Card to  prevent further transactions. 
• Replacement: You may request a card replacement, subject to identity  verification and applicable replacement fees as listed in the Fees and  Charges section. 
• Unauthorized Transactions: If reported within 24 hours of the incident,  and if your account security was not compromised due to negligence, you  may be eligible for compensation under dispute protection procedures. 

10. User Obligations 

• Do not share your login credentials, card details, or verification codes. • Regularly review account statements and monitor transactions. • Install security updates and antivirus software on your devices. • Promptly update your contact and identification details. 
• Users must immediately report any changes in identity documentation or  risk profile (e.g., becoming a PEP or relocating jurisdictions) to ensure  continued compliance with local laws. 

11.Risk Disclosure 

• Digital Assets carry significant risks, including potential loss of value. • Regulatory changes can impact the value and legality of Digital Assets. • Users are responsible for understanding these risks before engaging in  transactions.

12. Suspension and Termination 

Bitzaro reserves the right to suspend or terminate your Card and access to  Services if: 

• You breach these Terms or fail to comply with regulatory obligations. • There is suspicion of fraudulent, illegal or unauthorized activity. • Required by law or regulatory authorities. 

13. KYC Requirements 

End-user KYC: 

1. i) Level 1: 

This level covers the initial customer identification and verification of  identity and location. The identification is performed remotely via our  application. Customers are required to: 

• Submit identification documents. 
• Complete email verification and a liveness check. 
• Verify their residential address and current location. 

Additionally, the process includes: 

• Determining whether the customer is a Politically Exposed Person  (PEP). 
• Checking if Hong Kong applies international sanctions against the  customer. 
• Confirming the accuracy of submitted data in compliance with AML  regulations. 
• Enhancing our understanding of the customer’s identity and assessing  related risks. 

Bitzaro’s KYC procedures comply with the Anti-Money Laundering and  Counter-Terrorist Financing Ordinance (Cap. 615) and align with the latest  Financial Action Task Force (FATF) recommendations as adopted in Hong  Kong.

1. ii) Level 2: 

This level applies to higher risk customers where, the customers’ source  of fund and wealth shall be verified. This level is implemented on the  customer through our application. It includes obtaining supporting  documents and checking to confirm the accuracy of the data and its  compliance with our AML and CFT rules and regulations, assessing risk,  and preventing fraudulent activities. 

14. Data Privacy and Protection 

You acknowledge and agree that Sinegy shall be entitled to collect, use,  process and disclose your personal data to discharge Bitzaro’s duties under  these Terms pursuant to the Personal Data (Privacy) Ordinance (Cap. 486)  of Hong Kong (“PDPO”) and Bitzaro’s Privacy Policy. We may disclose your  personal data to regulatory or law enforcement authorities in Hong Kong or  other jurisdictions when required by applicable laws or regulations. 

Bitzaro may request for your Personal Data and/or your employees, agents,  directors, shareholders, representatives, authorised person or shareholders  prior to or during the course our relationship, for the performance of Bitzaro’s  duties, marketing, legitimate business activity, administration and economic  efficiency purposes. The Personal Data provided may be disclosed and  shared with other related corporations and subsidiaries of Bitzaro within and  outside Hong Kong for the aforesaid purposes. You hereby warrant that the  PDPO has been complied with and that relevant consents have been  obtained from your employees, agents, directors, shareholders,  representatives, authorised person or shareholders in relation to the  disclosure and processing of their personal data by Bitzaro for the aforesaid  purposes. 

Bitzaro ensures that cross-border data transfers, if any, comply with Section  33 of the PDPO and any applicable guidance from the Office of the Privacy  Commissioner for Personal Data (PCPD). 

For the purpose of this clause, “Personal Data” and “processing” (or  “process” as the context requires) shall have the same meaning ascribed to  it respectively under the PDPO.

15. Limitation of Liability 

Bitzaro provides the Card and Services “as is” without warranties of any kind.  Bitzaro is not liable for: 

• Loss of funds due to unauthorized transactions where user negligence is  established. 
• Interruptions, delays, or errors in the Services. 
• Financial loss resulting from market volatility or regulatory changes. 

Nothing in these Terms shall exclude or limit liability where such exclusion or  limitation is prohibited under the laws of Hong Kong, including liability for fraud, gross negligence, or willful misconduct. 

16.Dispute Resolution 

Any dispute arising from these Terms shall first be attempted to be resolved  informally by contacting Bitzaro’s support team. Failing resolution, parties  agree to binding arbitration under the rules of the Hong Kong International  Arbitration Centre (HKIAC). 

17.Governing Law 

These Terms are governed by the laws of Hong Kong SAR. Any disputes will  be subject to the jurisdiction of the courts in Hong Kong. Bitzaro reserves the  right to select an alternative forum at its sole discretion. 

18. Amendments 

Bitzaro reserve the right to amend these Terms at any time. Continued use  of the Card following changes constitutes acceptance of the revised Terms. 

19. Language 

In case of discrepancies between different language versions of these Terms,  the English version shall prevail.