Interlace General Terms

Introduction

These Paypugs Cards Services LTD Spend Card Terms (the “Card Terms”) are a binding agreement between you (“you”, or “your”), and Issuer, including its affiliates, successors, and assigns (“Issuer,” “we”, “us”, or “our”) that govern your use of the Paypugs Cards Services LTD Spend Cards, including the process for obtaining and managing Spend Cards, access to which is provided to you by Paypugs Cards Services LTD.

These Card Terms apply to non-US consumers only. If you are a US customer, please refer to the Interlace General Terms for US Customers.

Important Disclosures

Rates, fees, and other important information about your Paypugs Cards Services LTD Spend Card (“Card”) are set forth in these Important Disclosures. Effective as of January 10, 2025.

Terms Background

The Paypugs Cards Services LTD Card is provided to you on behalf of Paypugs Cards Services LTD in connection with your status as a Paypugs Cards Services LTD client/customer/authorized user and pursuant to your separate User Agreement between you and Paypugs Cards Services LTD (the “User Terms”). The Issuer is not a party to the Paypugs Cards Services LTD User Terms and disclaims any liability for the performance of services covered therein.

You understand that you have access to the Services and Paypugs Cards Services LTD Card only to the extent authorized by Paypugs Cards Services LTD. You acknowledge and agree that Paypugs Cards Services LTD will satisfy obligations created through your use of the Paypugs Cards Services LTD Card and you will repay Partner based on the terms of your User Agreement, subject to the terms below.

You understand that the Paypugs Cards Services LTD Card is not intended for personal, consumer, or household use and you agree you will only use the Paypugs Cards Services LTD Card for commercial or business purposes.

Defined Terms

Accepting This Agreement & Eligibility

These Card Terms become effective and legally binding when you activate or create your Card by following the instructions on the Paypugs Cards Services LTD platform. You and we agree to comply with, and be bound by, this entire agreement. You should retain and carefully review these Card Terms.

By using a Card you represent and warrant that:

• You are not a person who is blocked or sanctioned by the United States Government, including those identified by OFAC.
• You will use the Services exclusively for purposes permitted by these Card Terms and the Paypugs Cards Services LTD Agreement.
• All information you provide to us is and will be true, correct, and complete.
• You will not use the Paypugs Cards Services LTD Card for personal, family, or household use.
• You will only use the Paypugs Cards Services LTD Card in compliance with applicable law.
• You attest that you are not a United States citizen, and that you are signing up for a card that is intended for those outside of the United States.

Issuer Terms

Cards are issued by the issuer identified on the back of the Paypugs Cards Services LTD Card. Issuer is the creditor responsible for funding your payments for goods and services purchased at a merchant through your Paypugs Cards Services LTD Card.

Please note that the Issuer may require you to accept additional terms in addition to the agreements you have with Paypugs Cards Services LTD, and your use of the Cards will then also be subject to such additional terms.

Collateral

Either your primary Linked Wallet or any Additional Wallets may provide the collateral that will secure the Charges made by you on any Paypugs Cards Services LTD Card (the “Collateral”). The Collateral will be in the form of a Digital Asset. Issuer reserves the right to designate which forms of Digital Assets may be used as Collateral.

A “Liquidation Event” will occur (a) if you have an outstanding payment obligation that has not been paid in full within one (1) calendar day; OR (b) the Market Value of your collateral drops below the value of the existing charges on your Card(s) and you do not add additional collateral. Paypugs Cards Services LTD and Issuer may allow for an additional grace period at their discretion.

Amendments

Paypugs Cards Services LTD and Issuer reserve the right to amend these Card Terms or impose additional obligations or restrictions on you at any time with or without notice to you. By continuing to use the Services, you agree to be bound by such amendments or additional obligations or restrictions. The date at the top of this page shows when the Card Terms were last updated.