Terms and Conditions

Effective date: April 25, 2026

1. Introduction and Acceptance

These Terms and Conditions (the "Terms") govern your access to and use of the RAYS CARD digital wallet, prepaid debit card, mobile application, websites, and related services (collectively, the "Services") provided by RAYS CAPITAL PTE. LTD. (UEN [insert UEN], registered in Singapore; "we", "our", "us", or "RAYS CAPITAL").

By creating an account, downloading or using the mobile application, or otherwise accessing the Services, you (the "User", "you", or "your") agree to be bound by these Terms, our Privacy Policy, and any additional terms or fee schedules that we publish from time to time. If you do not agree to these Terms, do not use the Services.

2. Definitions

"Account" means the user account registered with RAYS CARD.
"Card" means the prepaid Mastercard or other debit card issued in connection with the Services.
"Wallet" means the digital balance held within your Account.
"Crypto-Asset" means a digital asset (including USDT, USDC, ETH, and other supported tokens) used to fund or settle transactions through the Services.
"Partner" means MatchMove Pay Pte. Ltd. and any other licensed financial institution we engage to issue the Card or operate the Wallet.
"Applicable Law" means all laws, regulations, and rules applicable to you, us, or the Services, including the laws of Singapore.

3. Eligibility and Account Registration

3.1 Eligibility

To use the Services, you must:

Be at least 18 years of age and have full legal capacity to enter into a binding contract;
Not be a resident of, or located in, a country or region subject to comprehensive economic sanctions or designated as high-risk by the Financial Action Task Force (FATF);
Not be a person identified on any sanctions, terrorism, or restricted-party list maintained by the United Nations, the United States Office of Foreign Assets Control (OFAC), the European Union, the Monetary Authority of Singapore (MAS), or any other relevant authority;
Provide accurate, complete, and current registration information.

3.2 One Account per User

You may register only one Account. We reserve the right to refuse, suspend, or close duplicate Accounts at our sole discretion.

3.3 Account Security

You are responsible for keeping your login credentials, PIN, biometric authentication factors, and Card details confidential. You are liable for all activity that occurs under your Account, except where caused solely by our gross negligence or willful misconduct. Notify us immediately at support@rayscapital.co if you suspect unauthorized access.

4. Identity Verification (KYC / AML)

Before activating the Services and from time to time thereafter, we are required by Applicable Law and our Partners to verify your identity through a Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) process. This may include:

Submission of a government-issued identity document, proof of address, and a live selfie;
Screening against sanctions, PEP (Politically Exposed Persons), and adverse-media lists;
Enhanced Due Diligence (EDD) for higher-risk customers, including additional documentation regarding source of funds or wealth;
Ongoing monitoring of transactions to detect suspicious activity.

We may suspend, restrict, or close your Account if you fail to provide requested information, if verification cannot be completed, or if we suspect fraud, money laundering, terrorist financing, sanctions evasion, or any other financial crime. We may report suspicious activity to relevant authorities as required by Applicable Law.

5. The Services

5.1 Card and Wallet

The Card is a prepaid Mastercard issued by our Partner under a license from Mastercard International. The Wallet enables you to load, hold, and spend a stored balance. Card and Wallet transactions are subject to the limits and fees set out in Section 6.

5.2 Funding Methods

You may fund your Wallet using:

Credit or debit cards processed via Stripe, Inc.;
Cryptocurrency payments (USDT, USDC, ETH, Polygon, BSC) processed via BoomFi;
Other funding channels we make available from time to time.

Funding via third-party providers is also subject to those providers' own terms and privacy policies.

5.3 Service Availability

We may modify, suspend, or discontinue all or part of the Services at any time, with or without notice, for reasons including maintenance, security, regulatory requirements, or commercial decisions. We are not liable for any loss arising from such interruption, except as required by Applicable Law.

6. Fees and Limits

The following fees and limits apply to the Services. All amounts are stated in USDT or USD as applicable. Fees are deducted automatically from your Wallet balance.

6.1 Fee Schedule

Card issuance: USD 170 (includes shipping)
Annual fee: USD 50
Card validity: 5 years from issuance
Deposit fee: USD 1 per transaction
Crypto-to-fiat exchange: 1% plus prevailing spot rate
Mastercard FX conversion: 2.3% plus prevailing rate
Shopping / ATM transaction fee: 2.7%

6.2 Transaction Limits

Daily transaction limit: 15,000 USDT
Monthly transaction limit: 150,000 USDT

6.3 Changes to Fees

We may revise fees and limits from time to time. Material changes will be notified to you in advance through the app, by email, or by another reasonable means. Continued use of the Services after the effective date of a fee change constitutes your acceptance of the revised fees.

6.4 Taxes

You are solely responsible for determining and paying any taxes that may arise from your use of the Services, including capital gains or income taxes related to Crypto-Asset transactions. We do not withhold taxes on your behalf and do not provide tax advice.

7. Cryptocurrency Risks

Funding the Services with Crypto-Assets involves significant risks. By using crypto-funded features you acknowledge and accept that:

Volatility: Crypto-Asset prices can fluctuate significantly within short periods, which may affect the value of your funding transaction.
Irreversibility: Blockchain transactions are final and cannot be reversed by us, the recipient, or any blockchain operator. Sending funds to an incorrect address typically results in permanent loss.
No deposit insurance: Crypto-Assets are not protected by deposit insurance schemes (e.g., the Singapore Deposit Insurance Corporation).
Regulatory uncertainty: The legal and regulatory treatment of Crypto-Assets is evolving and may change without notice in your jurisdiction.
Network risk: Blockchain networks may experience congestion, forks, attacks, or downtime, which can delay or prevent transactions.
Travel Rule: For crypto transfers above applicable thresholds, we and our partners may be required to share originator and beneficiary information with counterparties, in accordance with FATF Recommendation 16.

You should not use Crypto-Assets to fund the Services unless you fully understand these risks and can absorb any potential loss.

8. Card Use, Loss, and Replacement

The Card is non-transferable and may only be used by the registered cardholder.
Use of the Card is subject to Mastercard's network rules, the Partner's cardholder agreement, and merchant acceptance.
You must report a lost, stolen, or compromised Card immediately by contacting support at support@rayscapital.co or by freezing the Card in the mobile app.
Replacement Cards may be issued at our discretion and may be subject to a replacement fee.
We may decline, hold, or reverse any transaction that we reasonably believe is fraudulent, unauthorized, prohibited by Applicable Law, or contrary to these Terms.

9. Mobile Application Terms

Permissions: The mobile app may request access to camera (for KYC and card scanning), biometric authentication (Face ID / Touch ID / fingerprint), push notifications, and similar device features. You may withdraw consent through your device settings, but doing so may limit functionality.
Push notifications: We send transactional, security, and service notifications. You can disable notifications in your device settings, but we may still contact you by email or SMS for security-critical events.
Mandatory updates: We may require you to install the latest version of the app to continue using the Services, particularly when an update is necessary for security or regulatory compliance.
App Stores: Your use of the mobile app is also subject to the Apple App Store Terms of Service and the Google Play Terms of Service, as applicable. To the extent any conflict arises, the App Store provider's rules prevail with respect to download, installation, and platform-specific matters.

10. Prohibited Uses

You agree not to use the Services to:

Engage in any illegal, fraudulent, or unauthorized activity;
Finance or facilitate money laundering, terrorism, sanctions evasion, human trafficking, weapons proliferation, narcotics trafficking, or any other criminal activity;
Impersonate another person or misrepresent your identity, age, or affiliation;
Conduct transactions on behalf of a third party without our prior written consent;
Reverse engineer, decompile, or attempt to extract source code from the Services;
Interfere with or disrupt the Services, including by introducing malware, scraping, or unauthorized automated access;
Use the Services in any jurisdiction where doing so would violate Applicable Law;
Use any branded terms (RAYS CAPITAL, RAYS CARD, RC WALLET) in paid advertising or referrals without our prior written consent.

11. Intellectual Property

All trademarks, logos, software, designs, content, and other intellectual property related to the Services are owned by us, our Partners, or our licensors, and are protected by Applicable Law. We grant you a limited, non-exclusive, non-transferable, revocable license to use the Services solely for their intended purpose. No other rights are granted to you, whether by implication or otherwise.

12. Privacy and Personal Data

Our collection, use, and disclosure of your personal data is described in our Privacy Policy, which forms an integral part of these Terms. By using the Services, you consent to the practices described in the Privacy Policy.

13. Disclaimers and Limitation of Liability

13.1 Disclaimer of Warranties

The Services are provided "as is" and "as available", without warranties of any kind, whether express, implied, statutory, or otherwise, including warranties of merchantability, fitness for a particular purpose, non-infringement, or uninterrupted availability, to the maximum extent permitted by Applicable Law.

13.2 Limitation of Liability

To the maximum extent permitted by Applicable Law, we are not liable for:

Indirect, incidental, special, consequential, or punitive damages;
Loss of profits, revenue, business, goodwill, data, or anticipated savings, whether or not foreseeable;
Loss arising from delays, transmission errors, third-party services, network outages, force majeure, or events outside our reasonable control;
Loss arising from your failure to safeguard your credentials or to comply with these Terms.

Our aggregate liability arising out of or relating to the Services in any 12-month period shall not exceed the total fees paid by you to us in that period, or USD 100, whichever is greater.

13.3 Statutory Rights

Nothing in these Terms excludes or limits liability that cannot be excluded or limited under Applicable Law, including liability for fraud, gross negligence, or willful misconduct.

14. Indemnification

You agree to indemnify, defend, and hold harmless RAYS CAPITAL, our Partners, and our and their respective officers, directors, employees, and agents from and against any claims, demands, damages, losses, liabilities, and expenses (including reasonable legal fees) arising out of or related to: (a) your use or misuse of the Services; (b) your breach of these Terms or any Applicable Law; (c) your violation of any third-party rights, including intellectual property or privacy rights; or (d) unauthorized access to your Account caused by your failure to safeguard your credentials.

15. Suspension and Termination

15.1 Termination by You

You may close your Account at any time through the mobile app (Settings → Close Account) or by contacting support. Closure may be subject to settlement of outstanding obligations, regulatory record-keeping requirements, and the return of any remaining Wallet balance to a bank account or wallet you designate, after applicable fees and verification.

15.2 Suspension or Termination by Us

We may suspend, restrict, or terminate your Account or access to all or part of the Services at any time, with or without notice, if:

You breach these Terms or any Applicable Law;
We detect fraudulent, unauthorized, or suspicious activity, or are required to do so by law, court order, or regulatory authority;
You fail to complete required identity verification or due diligence;
Continued provision of the Services would violate sanctions or other Applicable Law.

Where reasonably possible, we will provide notice and reason; where not (e.g., for legal or security reasons), we may withhold reason. Upon termination, all rights granted to you under these Terms cease immediately.

15.3 Survival

The following sections survive termination: 6.4 (Taxes), 11 (Intellectual Property), 12 (Privacy), 13 (Liability), 14 (Indemnification), 18 (Governing Law and Dispute Resolution), and 19 (Miscellaneous).

16. Communications and Notices

You agree to receive communications from us electronically, including via in-app messages, push notifications, email, and SMS, and that such electronic communications satisfy any legal requirement that communications be in writing. Notices to you are effective when sent to the contact information associated with your Account. Notices to us must be sent to support@rayscapital.co.

17. Modifications to These Terms

We may update these Terms from time to time. The latest version will always be available at https://rayscard.com/en/terms. For material changes, we will provide notice in advance through the app, by email, or by another reasonable means. If you do not agree to the revised Terms, you must stop using the Services and may close your Account; continued use after the effective date of the revisions constitutes acceptance.

18. Governing Law and Dispute Resolution

18.1 Governing Law

These Terms are governed by, and construed in accordance with, the laws of Singapore, without regard to its conflict-of-laws principles.

18.2 Arbitration

Any dispute, controversy, or claim arising out of or relating to these Terms or the Services that cannot be resolved through good-faith negotiation shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (SIAC) in accordance with the Arbitration Rules of the SIAC then in force. The seat of arbitration shall be Singapore. The arbitral tribunal shall consist of one arbitrator. The language of the arbitration shall be English.

18.3 Class-Action Waiver

To the maximum extent permitted by Applicable Law, disputes shall be resolved on an individual basis. You agree not to participate in any class, consolidated, or representative action against us.

18.4 Limitation Period

Any claim arising out of or relating to these Terms or the Services must be brought within one (1) year after the cause of action accrues, or such claim is permanently barred, except to the extent that a longer minimum period is required by Applicable Law.

18.5 Injunctive Relief

Nothing in this section prevents either party from seeking interim or injunctive relief from a court of competent jurisdiction in aid of arbitration or to protect intellectual property rights.

19. Miscellaneous

19.1 Entire Agreement

These Terms, together with the Privacy Policy and any other documents incorporated by reference, constitute the entire agreement between you and us regarding the Services and supersede any prior agreements or representations.

19.2 Severability

If any provision of these Terms is held invalid or unenforceable, the remaining provisions shall continue in full force and effect.

19.3 No Waiver

Our failure to enforce any provision of these Terms is not a waiver of our right to do so subsequently.

19.4 Assignment

You may not assign or transfer your rights or obligations under these Terms without our prior written consent. We may assign these Terms in connection with a merger, acquisition, reorganization, or sale of assets, on notice to you.

19.5 Force Majeure

We are not liable for any delay or failure to perform caused by events outside our reasonable control, including acts of God, war, terrorism, pandemic, government action, network or infrastructure failure, or labor disputes.

19.6 Language

The English version of these Terms is the controlling version. Any translation is provided for convenience only.

19.7 No Partnership

Nothing in these Terms creates any partnership, joint venture, agency, fiduciary, or employment relationship between you and us.

20. Contact Us

For any questions, concerns, or notices regarding these Terms, please contact us:

RAYS CAPITAL PTE. LTD.
Email: support@rayscapital.co
Registered office: Singapore