STIC CARD Terms & Conditions

These Terms and Conditions (“Terms”) govern your use of the STIC Card and all related services (“Services”) provided by STIC FINANCIAL Ltd (“we”, “us”, “our”). The definitions applicable to these Terms are described in Section 2.

STIC FINANCIAL Ltd is the customer-facing service provider responsible for operating, managing, and supporting the STIC Card program. Certain technical, issuing, processing, and card-scheme related functions may be performed by third-party regulated providers engaged by us.

These Terms apply to all Cardholders and any party using the Services. By activating or using the STIC Card, you acknowledge and agree to be bound by these Terms and any additional policies referenced herein. Please read them carefully before proceeding.

While STIC FINANCIAL Ltd operates the STIC Card program, some Services may involve regulated third-party providers, including card issuers, e-money issuers, payment processors, and card scheme partners. All such providers act under their respective regulatory frameworks.

AGREED TERMS

1. OUR TERMS (“Agreement”, “Terms”)

Interpreting this Agreement. Refer to Section 2, which explains the meaning of the main terms we use in these Terms.
What this Agreement covers.These Terms explain how your STIC Card works and the conditions that apply when you use it.
Why you should read the Agreement. Please read these Terms carefully. By activating or using your STIC Card, you agree to these Terms.
These Terms explain your responsibilities and our responsibilities, how and when this Agreement can be ended, and the extent of our liability to you. If there is anything in these Terms that you do not understand or do not agree with, please contact us before using your Card. You should only apply for and use the STIC Card if you agree to be bound by these Terms.

2. DEFINITIONS AND INTERPRETATION

The definitions set out in this Section apply in this Agreement as follows:

“Account” means an Electronic Money account that will be opened for you through our third-party regulated providers for the keeping of the Electronic Money that they will issue to you and for the provision of the related Services.

“Agreement” means these Terms and Conditions, including the Schedules and the Privacy Policy.

“Beneficiary” means the recipient of money pursuant to a Payment.

“Beneficiary Account” means the bank account of the Beneficiary which is the subject of a Payment.

“Business Day”means a day when the clearing banks are open for business,excluding Saturdays, Sundays and public holidays.

“Card” means the payment instrument issued to you

“Cardholder” means an individual or legal entity using the Services

“Electronic Money” (“E-Money”) means electronically stored monetary value as represented by a claim against the e-money issuer provided through our third-party regulated providers.

“Fees” means the fees which will be charged for the provision of the Services, the details of which are set out in the Online Card Portal available at www.sticpay.com

“Issuer” means the e-money issuer or issuer of the payment instrument contracted by us through our third-party regulated providers.

“Negative Balance” means a balance below zero.

“Online Card Portal” means the web-based or mobile interface used to manage your Card account, available at www.sticpay.com

“Payment” means us redeeming your Electronic Money and sending the corresponding funds to a Beneficiary Account, the details of which you set out in your Payment Order.

“PaymentOrder” means a request from you to us for us to execute one or more Payments.

“Privacy Policy” means our privacypolicy, a copy of whichis available on our website.

“Program Manager”means the registered provider and management of the paymentcard program and payment platform.

“Safeguarded Account” means the safeguarded account(s) belonging to the issuing entity through our third-party regulated providers, which is separate from our corporate accounts for the purpose of protecting Electronic Money, into which we will receive money from you, or on your behalf, in return for the issuance of Electronic Money.

“Services” means the servicesidentified in clause 5.

“Spendable Balance” means the portion of your Card balance that is available to be spent or withdrawn after deduction of any applicable holds, fees or pending transactions.

“Terms” means the terms and conditions of this Agreement, as set out in clause 4.

“Website” means our website from time to time currently: www.sticpay.com

3. CARDHOLDER TERMS

You will be bound by this Agreement as soon as we confirm that your Card has been approved, as soon as you start using the Services, or when you expressly accept these Terms. Before we can provide any Services, you must give us the information we reasonably need to meet our legal, regulatory and risk management obligations, and you must agree to these Terms. You confirm that all information you provide to us is true and accurate to the best of your knowledge.
We may refuse to open an Account or issue a Card for you at our discretion. If we do so, we are not required to give a reason and we will not be liable to you for refusing.
This Agreement starts when we confirm your Cardholder status, when we first make the Services available to you, or when you otherwise accept these Terms, and it continues until it is ended in line with this Agreement.

4. SERVICES

We may decide which of the Services listed in Schedule 1 are available to you, and we may change or stop providing some Services from time to time.
As part of the Services, through our third-party regulated e-money issuing providers (“E-Money Issuer”), we shall provide you with Electronic Money upon receipt of money from you or from a third party on your behalf, store your Electronic Money, and redeem Electronic Money both on your express instruction and in accordance with this Agreement.
When Electronic Money is stored in one of your Accounts, the funds corresponding to the Electronic Money are not the same as funds held for you by a credit institution, in that:
- The E-Money Issuer shall safeguard the funds received in a Safeguarded Account, in exchange for Electronic Money that has been issued, meaning that the funds will be protected by being held in a designated safeguarding account and not commingled with any of the E-Money Issuer’s own funds.
- The E-Money Issuer cannot and will not use the funds received, in exchange for Electronic Money that has been issued, for its own purposes or lend such funds to other persons or entities; and
- Electronic Money will not accrue interest.
As part of the Services, through our third-party regulated card-issuing providers (“Payment Instrument Issuers”), we shall provide you with a Card. We shall be responsible for the distribution of the Card and customer-facing support relating to the payment instrument provided to you.
We do not provide advice about foreign exchange, tax, investment decisions or market conditions. You are responsible for deciding whether using the Card or making a particular transaction is suitable for you and your personal situation.
We may close or suspend your Card at any time, including if activity on your Card appears suspicious, fraudulent, or we believe it to be associated with criminal activity or activity inconsistent with this Agreement. Unusual or multiple purchases may prompt a merchant inquiry or Card suspension necessary for us to investigate such activity.
We reserve the right, in our sole discretion, to limit your use of the Card.
We may refuse to issue or replace a Card, or may revoke Card privileges, except where prohibited by applicable law. You agree not to use, or allow others to use, any expired, revoked, cancelled, suspended, or otherwise invalid Card. We will not incur liability to you because of the unavailability of any funds that may be associated with your Card.

5. WARRANTIES, REPRESENTATIONS AND UNDERTAKINGS

You warrant that:

(a) you are an individual, person, or legal entity eligible to use the Services.
(b) You acknowledge and agree that STIC FINANCIAL Ltd is the customer-facing service provider and operator of the Services, and you authorize us to communicate with you and to place, submit or process any instructions necessary for the Services with our third-party regulated providers where required.
(c) all information that you supply to us is complete, true, accurate and not misleading in any material respect.
(d) all sums which you send to us or are sent to us on your behalf (until these monies become due to us or are paid back to you) are and will remain owned by you and you have not created and will not create any charge or other encumbrance over or in respect of such monies.
(e) you are not prevented by any legal disability, nor subject to any law or regulation, from performing your obligations under this Agreement or under any related transactions contemplated by it.

6. INTELLECTUAL PROPERTYRIGHTS

The material displayed on our website is provided without any guarantees, conditions or warranties as to its accuracy.
You acknowledge and agree that we own all intellectual property rights in the Website and in all systems, software, technologies, and materials used to operate the Services. Any modifications, improvements, or derivative works are retained by us and protected under applicable intellectual property laws.
By activating your Card, we grant you a limited, non-transferable licence to use the Online Card Portal at www.sticpay.com solely to access and use the Services in line with these Terms.

7. GENERAL LIMITATION OF LIABILITY

If we and another party (for example, a bank or payment service provider) are both responsible for the same loss, you can only claim from us the part of the loss that fairly reflects our share of responsibility.
We are not responsible for delays in carrying out a Payment or Service if the delay is caused by late arrival of funds, banking cut-off times, or delays, failures or interruptions in banking or payment systems.
We shall not be liable for any bank charges that you may incur when sending funds to or receiving funds from us.
We shall not be liable for non-performance of our obligations or failure to execute any Payment Order if executing the Payment would be illegal.
Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence, or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us, or where such limitation is not permitted under applicable law.
Our e-money issuing partner shall only be responsible for complying with regulatory obligations relating to the issuance and safeguarding of e-money. They shall not be liable for any loss, damage, or claim arising from the use, distribution, or management of the Card beyond their regulatory duties.
Our card-issuing partners shall not be liable for any loss, damage, or claim arising from the safeguarding, issuance, or redemption of e-money, which remains the sole responsibility of our e-money issuing partner under applicable financial services regulations.
We are not responsible for the quality, safety, legality, or any other aspect of goods or services purchased with the Card. We are not liable for any loss resulting from a merchant refusing to accept your Card or an ATM failing to dispense cash. You are responsible for losses arising from gross negligence or failure to exercise adequate caution when transacting with merchants.

8. COMPLAINTS

If you wish to make a complaint, contact us using the contact email address for complaints: stic_card@sticpay.com
We have internal procedures for handling complaints fairly, promptly, and free of charge. A copy of our complaints procedure is available on our Website or can be provided to you upon request.
We will acknowledge your complaint by email within five Business Days. The acknowledgement will include information about the complaint-handling procedure and your right to escalate the complaint if you are not satisfied with our response.
Complaints must be submitted, handled, and responded to in English unless you and we mutually agree to use another language.
We aim to resolve complaints within 30 Business Days from the date the complaint is received. If additional time is required—for example, due to complexity or delays caused by third parties— we may extend this period. If we are unable to resolve your complaint to your satisfaction, you may be eligible to escalate the matter to an external dispute resolution service or the relevant financial ombudsman in the jurisdiction from which the Services are provided.

9. ESTABLISHING YOUR IDENTITY

To comply with applicable anti-money-laundering and counter-terrorist-financing laws and regulations, we may need to request and retain evidence of your identity from time to time. If satisfactory evidence is not promptly provided, we may not be able to accept your instructions or provide Services. We may be required to share identity information with our third-party regulated issuing partners to provide you with the Services.
To assist with our regulatory obligations, we may conduct electronic identity verification checks through third-party providers. We may retain records of such checks in accordance with applicable laws. You acknowledge that such checks may leave a soft footprint on your credit history.
We are legally required to report any reasonable suspicion related to instructions, transactions, or activities to regulatory authorities. This may affect our ability to maintain confidentiality. If legislation requires us to refrain from communicating with you and/or processing your instructions, we accept no liability for consequences arising from our inability to act.

10. TERMINATION

When we may terminate this Agreement.

(a) We may terminate this Agreement at any time and for any reason by giving you not less than 30 days’ notice.
(b) We may terminate this Agreement immediately in the event that.
- You have breached the Agreement
- You have not satisfied our Identity verification requirements
- we are instructed to do so by any authority or by our third-party regulated providers involved in the delivery of the Services;
- Termination is required for compliance with anti-money-laundering or counter-terrorist-financing laws;
- your information or status has materially changed from the time you were first accepted to use the Services;
- your activities pose, in our discretion, a financial, operational, or reputational risk to us.
(c) This Agreement may also terminate if you choose to end your relationship with us.
When you may terminate this Agreement. You may terminate this Agreement at any time and for any reason by giving us written notice. We may contact you to confirm your request.
Effect of Termination. Once termination becomes effective:

(a) you will no longer be able to use the Services;
(b) All of your payment obligations under this Agreement will immediately become due.
(c)We will redeem any Electronic Money held for you and transfer the equivalent funds to a bank account in your name (unless otherwise mutually agreed), less any amounts owed to us. Any reasonable banking costs associated with redemption or transfer may be deducted from your Card balance.

11. CONFIDENTIALITY

We will not disclose your confidential information to any person except:

(a) To our employees, officers, representatives, advisers, or third-party regulated providers who need access to such information for the purpose of delivering the Services or exercising our rights under this Agreement. We will ensure that anyone to whom we disclose such information complies with this confidentiality obligation.
(b) Where disclosure is required by law, a court order, or any governmental or regulatory authority.

12. PERSONAL INFORMATION

We will use and process your personal information only in accordance with our Privacy Policy, which is available on our website (www.sticpay.com).

13. GENERAL

We may maintain a record of all emails sent by or to us. Such records will be maintained at our discretion, remain our property, and may be used by us in the event of a dispute. We do not guarantee that we will retain such records or be able to make them available to you. You consent to the use and admissibility of any such records as evidence in any dispute or anticipated dispute relating to your dealings with us.
These Terms form a legal agreement between you and us about your use of the STIC Card and the Services.
We shall have no liability to you if we are prevented from, or delayed in, performing our obligations under this Agreement due to events outside our reasonable control, including but not limited to failures of interconnected systems, computer viruses, natural disasters, labour disputes, armed conflicts, acts of God, or other similar events.
Each clause, sub-clause, and paragraph in this Agreement operates separately. If any part is deemed unlawful by a court or authority, the remaining portions will continue in full force.
We may amend this Agreement by giving you at least two months' written notice. If you object to the proposed amendments, you may terminate the Agreement before the changes take effect.
We may transfer our rights and obligations under this Agreement to another regulated entity without your consent. If this occurs, we will notify you in writing and ensure that the transfer does not affect your rights under this Agreement.

14. SAFEGUARDS AND SECURITY

You must take all reasonable steps to keep secure your communication channels with us, including any passwords, PINs, access codes, or email accounts used to interact with us. If you become aware of any risk or compromise, you must notify our customer support immediately.
You agree that any use of your Card, Card number, or PIN constitutes your authorization and consent to a transaction.
You must take all reasonable precautions to prevent fraudulent or unauthorized use of the Services.
We may contact you via email if we detect or suspect fraud or security threats. If we believe your email may be compromised, we may contact you via telephone instead.
We may stop or suspend your use of the Services, including access to the Online Card Portal, based on:

concerns relating to the security of the Online Card Portal;
suspected unauthorized or fraudulent use of the Online Card Portal;
unauthorized or fraudulent access to your Card or Account information;
risk of unauthorized or fraudulent initiation of a Payment.

15. Risks to Cardholders

Some of the risks that may be associated with the use of the Card are outlined below. The risks described are intended to summarize the major risks associated with the Card and are not exhaustive. There may be additional risks related to the use of your Card. Significant risks to Cardholders include:
- When you use the Card for a transaction, the currency available on your Card will be used as the billing currency. The foreign exchange rate at the time of the purchase or pre-authorization will apply. As foreign currency exchange is subject to market fluctuations, you may be exposed to variations between the rate at the time of the transaction and the rate at settlement;
- the Card will expire on the date shown on the Card. You cannot use an expired Card to access any Spendable Balance until a replacement Card is issued to you;
- Unauthorized Transactions may occur if the Card is lost or stolen, if the PIN is disclosed to another person, or as a result of fraud;
- incorrect amounts may be charged if you do not check and confirm the transaction amount before authorizing a Contactless Transaction;
- unintended transactions may occur if the electronic equipment used to process the Card is operated incorrectly or incorrect details are entered;
- you may not be able to get your money back if unauthorized Transactions or unintended transactions occur;
- if the electronic network that enables Card usage is unavailable, you may be unable to complete transactions or obtain information using the Card; your Card could be lost, destroyed or stolen. No deposit guarantee or compensation scheme applies to your Card or your Spendable Balance.

16. Dispute and Chargebacks

A chargeback is a right under the Mastercard and VISA Scheme Rules that allows a transaction to be effectively reversed by debiting the merchant’s financial institution and crediting your Spendable Balance once the process is completed. We can only process chargebacks if permitted under the applicable Scheme Rules.
In certain circumstances, you may be able to request a chargeback when you have a dispute with a merchant, for example:
- where goods or services you paid for using the Card were either not as described or defective;
- where goods or services you paid for using the Card were not provided;
- where there was an Unauthorized Transaction on the Card;
- the transaction amount differs to the purchase amount; or
- where you believe a transaction has been duplicated.
If you believe you are entitled to a chargeback, you must notify us as soon as possible, as Mastercard and VISA Scheme Rules impose strict time limits. The time limit is generally between 75–120 days from the date of the disputed transaction, depending on the dispute type and the applicable Scheme Rules.
Once a chargeback is initiated, we may require additional information from you. If we request additional information and you do not provide it within 5 days, you may lose your right to pursue the chargeback.
You are required to provide full details of the chargeback to us by email after attempting to resolve the dispute directly with the merchant.
If we initiate a chargeback, the merchant may have rights under the Mastercard or VISA Scheme Rules to further dispute the matter. This can result in the chargeback being reversed. In such cases, the original transaction amount may be reinstated and debited from your Spendable Balance.
We may refuse to pursue a chargeback if we believe there has been serious misrepresentation or fraud by the Cardholder, or if you do not provide the information we reasonably request in time.
We may also refuse a dispute if you have used third-party or marketplace platforms to hide or change the original purpose of the transaction made with your Card.

17. FEES

a) We shall charge you for the use of your Card and the Services. The applicable fees are outlined in the Online Card Portal.

b) If a Fee is charged to your Card or Account in error, you must notify us within 30 days so that we can investigate and correct the amount if necessary.

c) We reserve the right to change, update, or modify the fees from time to time.

d) Upon expiration of the Card, if your Card is not immediately renewed and your balance transferred to your new Card, you will incur a monthly administration fee on any remaining balance.

18. GOVERNING LAW AND JURISDICTION

These Terms and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of Labuan, Malaysia. Each party irrevocably agrees that the courts of Labuan, Malaysia shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims).
Clause, Schedule and paragraph headings shall not affect the interpretation of this Agreement.
The Schedules form part of this Agreement and shall have effect as if set out in full in the body of this Agreement. Any reference to this Agreement includes the Schedules.

19. INFORMATION

The Account and Card constitute a payment service product and are not a deposit, credit, or banking product, and therefore are not covered by any deposit compensation scheme. We shall ensure that your funds are properly safeguarded in accordance with applicable law so that they remain protected in the event that we become insolvent.
All transaction information — including executed Payment Orders — is available at any time and free of charge through the Online Card Portal.
You should regularly check your transaction information for mistakes or discrepancies through the Online Card Portal.
In case of disputed Card transactions, we may, in line with the Mastercard and VISA Scheme Rules and applicable law, decide not to proceed with a chargeback where, for example, insufficient information is provided, the applicable time limits have expired, or the relevant criteria under the Scheme Rules are not met.
If an unjust or incorrect amount has been loaded to your Card Account, you must inform us immediately and cooperate with us to recover and debit the funds from the account.
Never allow another person to use your Card and keep it secure at all times. Memorize your PIN and never disclose this or any other security information to anyone. Sharing these details may result in unauthorized access to your account, and you will be solely responsible for any transactions made in such circumstances. We shall not be liable for any loss arising from such unauthorized transactions.

20. HAVING ENOUGH ELECTRONIC MONEY TO MAKE A PAYMENT

To make a Payment, you must have enough Electronic Money to cover the Payment amount and any applicable Fee. This means you need to keep a sufficient balance in the correct currency on your Card.
You may redeem the Electronic Money you hold by contacting our support services and submitting a Payment Order through the required forms. Alternatively, you may use your Card wherever the relevant scheme mark is accepted.
When we execute a Payment, we automatically redeem your Electronic Money and send the funds to an account in your name.
If a Payment causes your balance to go negative, you must immediately top up your Card so that there is enough Electronic Money to cover all Payments. We may take funds from any linked payment method or account to clear a negative balance.

21. PLACING PAYMENT ORDERS

How to place a Payment Order
You can place a Payment Order by giving us your instructions in the way we explain in the Online Card Portal. We will then pass your Payment Order to our licensed issuing and processing partners so they can complete the Payment. Your Payment Order is treated as received by them when we submit it on your behalf. If you no longer want us to submit Payment Orders for you in this way, you must tell us immediately.
We accept no liability for funds lost due to incorrect banking or beneficiary details provided by you.
We will assume that:

(a) We remain authorized to submit Payment Orders for you unless you tell us otherwise in writing; and
(b) any Payment Order we receive from your registered channels has been authorized by you.

We will provide the following services to you (collectively, the “Services”) in accordance with these Terms:

Providing and maintaining the Online Card Portal available at www.sticpay.com;
Facilitating the distribution of Payment Instruments through our third-party regulated providers, and the issuance and management of Electronic Money through such providers;
Providing plastic or virtual Cards as part of the Card program;
Working with our third-party regulated providers to exchange funds received from you (or on your behalf) for Electronic Money, and to redeem Electronic Money stored on your Card for funds to be paid to you;
Managing Transactions on your Card, including transaction processing, tracking, and delivering related notifications;
Providing, through the Online Card Portal, functionality enabling you to send and receive Electronic Money;
Providing support services necessary for you to obtain information related to the Services and to manage your Card.

THIRD-PARTY REGULATED PROVIDERS

(Collectively referred to as “third-party regulated providers”, engaged by STIC FINANCIAL Ltd for the delivery of certain regulated components of the Services, including but not limited to e-money issuance, card issuance, and processing services.)

E-Money Issuance, Card Issuance, BIN Sponsorship, and Processing services are provided by third-party regulated providers contracted by STIC FINANCIAL Ltd. Specific provider details are available upon request, or as required under applicable laws and regulations.