Terms & Conditions


Epayzz Terms and Conditions


Effective From: 1st of July, 2018


Terms and Conditions applicable for any user of epayzz system by Money+Card Payment Institution Ltd. These Terms and Conditions are applicable in addition to any Terms and Conditions applicable from time to time to all Clients of Money+CardPayment Institution Ltd.

The Epayzz Terms and Conditions is an inseparable part of the Bank Card Terms and Conditions of Money+Card Payment Institution Ltd. All matters not regulated herein are governed by tha applicable Bank Card Terms and Conditions.

Money+Card Payment Institution Limited is regulated by the Malta Financial Service Authority, (MFSA), as a Financial Institutions licensed to undertake payment servicesand electronicmoney. The registered office is at 19, St Mark Street, Malta, having company registration number C 71597.

1       Definitions

1.1       In these Terms and Conditions, the following expressions will have the following meaning.


Acceptor:  A unit established as such in epayzz. An acceptor can be a web-based or physical point of sale of the goods or services provided by the User.


Agreement refers to these Terms and Conditions, as may be amended from time to time.


Business Day means any day on which credit institutions are normally open for business in Malta, other than a Saturday, Sunday or national or public holiday in Malta.

Epayzz mobile application meansan application that may be downloaded to a mobile device and that provides access to the Epayzz wallet and the Services.


Epayzz wallet means the web-based electronic money or e-money account opened and maintained by the Issuer


E-money issuing: At the request of the User, and for consideration, the Issuer will issue e-money and credits it to the User’s wallet.


E-money owner refers to the User that owns EpayzzWallet.


Issuer refers to Money plus Card Payment Institution Ltd.


Merchant means an internet retailer or any other persons that accepts Transactions on its Third-Party wallet with M+C.


Person includes an individual, firm company, corporation or an unincorporated body of persons such as associations and businesses.


Payer means the person who gives an instruction to M+C to execute a Transaction, making a transfer to the Payee


Payee means the person who is the intended recipient of e-money which has been the subject of a Transaction and receiving monies from the Payer;


Prepaid Card: means a reloadableepayzzprepaid card product which is a type of debit card where funds are stored and deposited onto the epayzz’s account prior to a card transaction. Epayzz prepaid card can be physical or virtual card.

Virtual prepaid card is issued and usable without physical plastic card.The virtual prepaid card can be used to purchase goods or services over the internet and easy to manage via epayzz mobile app during 7/24.


Website means the Money Plus Card Payment Institution Ltd website at www.moneypluscard.com.


User means the Customer in whose name the Epayzz Wallet is registered.


2       Objectives

2.1       The Agreement illustrates the general Terms and Conditions applicable to the legal transaction between Money Plus Card Institution Ltd (referred as the “Issuer”) and the User which conditions are binding for the Issuer and the User.


2.2       The Agreement between the Issuer and the User regulates the opening, use and closure of the User’s e-wallet including the issuing and redemption of emoney and the execution of Transactions by the Issuer in relation to the User’s epayzz.  For the use of additional services or products, the User may have to accept additional agreements as notified to you when you are ordering or using such services or products.


2.3       This Agreement will take effect on the Commencement Date and will terminate in accordance with Section16.


2.4       Any matter not governed by these Terms and Conditions, or the General Terms & Conditions of the Issuer, shall be governed by Maltese Law, including the Financial Institutions Act, Chapter 376 of the Laws of Malta and any regulations issued thereunder.


2.5       The terms of this agreement mayonly be varied or amended for one or more Epayzz Wallets held by a User, by means of a separate and mutual written agreement drawn up between the issuer and the User. In such cases, the different provisions the Parties agreed upon will have priority over the terms of the General Terms and Conditions.


2.6       This Agreement shall be in English Language version, which will be used for all purpose including dispute resolution. It is understood that where any translation of this Agreement or parts thereof in another language is available, such translation is only intended for informal purposes only and does not alter or take precedence over the provisions of this Agreement. The English version shall prevail in all cases.


3       Changes to the Agreement

3.1       The Issuer reserves the right to vary, amend or change this Agreement in whole or in part (including Fees), however in such instance the Issuer is obliged to provide a copy of the changes through the Website or by email, by no later than two (2) months prior to the effective date when such change shall commence to apply.


3.2       If the User objects to the proposed change, he has the right to terminate his Agreement with the Issuer (and consequently close hisEpayzz Wallet) before the proposed change comes into effect without incurring any charge. To do so, the User must give the Issuer written notice which must be delivered to the Issuer’s Customer Service or as per the notification clause stipuled hereunder. The User will however be responsible for all transactions and charges incurred by the Issuer up to the termination date of this Agreement. Unless the User objects to the change the Issuer propose, the proposed change will take effect on the date identified in the communication to the User and the terms of this Agreement will be amended accordingly. The continued use of the Epayzz Walletfollowing the effective date of the relevant changes to these Terms and Conditions will constitute the User’s acceptance of the revised Terms and Conditions.

4       Users Eligibility

4.1       Eligibility for opening a Epayzz Wallet:

4.1.1       Any natural person, who must be at least 18 years of age, and have full legal capacity to enter into a contract of this nature in the country of residence.

4.1.2      Vulnerable consumers or their caretakers or guardians. In such case, they should contact us the Institution’s customer care service prior opening a Epayzz Wallet.

4.1.3      The person should be acting in his name and not on behalf of another person except in cases mentioned in clause 4.1.2.


4.2       The Issuer reserves the right to amend these eligibility criteria from time to time, without notice. The Issuer also reserves the right to suspend or close at any time theEpayzz Wallet.


4.3       The Issuer reserves the right to request any additional information necessary to prove the User’s rights at any point in time of the subsistence of this agreement.

5       User’s Acknowledges.

5.1       The User accepts that the Issuer is bound by various Compliance related obligations, including but not limited to Anti-money laundering and counter funding of terrorism requirements, and henceforth the User agrees to provide the Issuer with correct, true and complete information without limitation, the identification and verification documentation as may be requested by the Issuer from time to time.


5.2       By the acceptance of current Terms and Conditions the User takes the responsibility for his/her compliance to all the laws to which he/she is subject including without limitation all tax laws and regulations, exchange control requirements and registration requirements.


5.3       The User confirms that he is not a Politically Exposed Person(PEP) ora close associate of a PEP and he is obliged to inform the Issuer as soon as he become one of the above.


5.4       By the acceptance of the current Terms and Conditions, the User confirms that all funds used to Top-up or reload the Epayzz Wallet originate from legitimate sources or activities.


5.5       The User must keep the log-in details and passwords secure and secret at all times and not disclose them to any other person including friends, family or work colleagues.


6       Epayzz Wallet

6.1       The Epayzz Wallet is an e-money account which facilitates the User to send and receive electronic payments.


6.2       The Issuer only issues e-money at the request of the User. 


6.3       To start using Epayzz Wallet, the User should download the software on his mobile and carry out all the registration fields.  Following successful registration of the Epayzz Wallet, the User will be able to top-up the wallet.  More detailed information in relation to usage and topping up of Epayzz Wallet are described in the User’s Guide.


6.4       The Issuer will make available the account in Euro and other currencies specified by the Issuer from time to time on the website. 


6.5       The Issuer will not pay interest on the E-money in accordance with the effective laws.


6.6       The E-money on M+C account is created by the Issuer during the Issuing, that is, when the User successfully completes the Top up of the Epayzz Wallet.  The Issuer will process the top-up in the wallet currency irrespective of the card currency.


6.7       The Issuer will only carry out E-money transactions between two Epayzz wallets or between Epayzz Wallet and his M+C Payment account. The Issuer shall have the right to reject or refuse E-money transactions between M+C accounts of different currencies.Conversion is possible between epayzz wallets between particular currencies that are stipulated from time to time by the Issuer.


6.8       The User can use the Epayzz wallet with Merchants that accept payments in electronic money issued by M+C.


6.9          Transactions allowed by the Issuer on behalf of the User in relation to E-money includes the following:

6.9.1      send payments to any epayzz user and receive payments from them,

6.9.2      pay for services and make purchases at merchants and commercial outlets which accept epayzz,

6.9.3      move your funds between your epayzz wallet and your M+C payment account,

6.9.4      invite anyone to epayzz, using their phone number.


6.10     When setting PIN for bank cards in epayzz it should fulfill the following requirements:

6.10.1    PIN code should not be a part of Bank Card number, not even in reverse order.

6.10.2    PIN code should not contain numbers in sequence (e.g. 1234, 4321, 2468, 1357, 0369)


7       Redemption of e-money

7.1       The Issuer will redeem either in part or in full the monetary value of the electronic money on the User Epayzz account, at any time and at par value and without delay, following instructions given by the User.


7.2       The Issuer reserves the right to carry out any necessary money laundering, terrorist financing, fraud and other illegal activity checks before authorising any redemption or transfer of redemption funds to the User, including in relation to returning any funds after the termination of the Agreement.


7.3       Where the redemption request exceeds the current limit in the User Epayzz account, the Issuer reserves the right to decline the redemption request and to require verification documentation on the part of the User to attest his identification.


7.4       The redemption of fundsmust be transferred to account held by the same User. Any violation of this clause is deemed as a fraudulent act. Without prejudice to claiming further damages, the Issuer is required to investigate a redemption for the transfer of funds to an account or payment instrument that is held by a third party.  The Issuer may charge an additional fee for such investigations.


7.5       The User is responsible for ensuring that the payment details provided are correct and complete. The Issuer shall not be held responsible for any redemption for the transfer of funds being sent to incorrect payment details.


7.6       The redemption requests shall be effected in the payment account currency.  The User shall be liable for any foreign exchange fees where such redemption is made to an account which is in a currency other than the Euro as well as to a Fee which may be chargeable.  Moreover, the Issuer shall not be held liable for any third-party costs and fees incurred by the User for receiving funds in his bank account.The redemption limit of EUR 100 stipulated by the law is applicable for non-verified electronic money account holders. Redemption over the limit requires verification of electronic money account holders personal data against ID documents prior to any transfer.


8       Unauthorised Access to Epayzz Account

8.1       In the event of suspected theft, fraud or any other risk of case unauthorised use of the epayzz wallet, the User shall immediately notify the Issuer using the contact details provided on the website.  The Issuer will take all reasonable steps including suspension of the epayzz wallet to stop any unauthorised use of this wallet. The User may block his epayzz wallet by following the instructions provided on the Website.


8.2       If a Transaction is unauthorized or incorrectly executed, the Issuer will refund the amount only if the User notifies the Issuer in writing, without undue delay on becoming aware of the unauthorised or incorrectly executed Transaction giving rise to a claim, and no later than thirteen (13) months after the debit date, except in the following cases:

8.2.1      where the unauthorised Transaction is a result of the User negligence of preserving the security features of the wallet safe from misappropriation of the wallet.  In such a case, the User shall be liable for the losses incurred up to the day of notification up to a maximum of €150;

8.2.2      where the User fail to notify immediately the Issuer of any loss of password or other events which compromise the security to the epayzz wallet.  In such a case, the User shall be liable for the losses incurred up to day of notification;

8.2.3      where the User have acted fraudulently or with intent or with gross negligence failed to fulfill all the obligation under this Agreement.


8.3       The Issuer reserves the right to block the wallet for objectively justified reasons related to the security of the wallet or the suspicion of unauthorised or fraudulent use of the epayzz wallet.  The Issuer will inform you of the blocking of the wallet, where possible before the blocking and at latest immediately thereafter, unless giving such information would compromise the objectively justified security reasons or is prohibited by law.

9       Customers’ Monies

9.1       Funds received in exchange of electronic money issued by Issuer which belongs to our customers will be segregated and placed into the client’s account with an authorised credit institution domiciled in Malta. The Maltese Deposit Guarantee Scheme does not cover electronic money issued by the Issuer or claims made relating to the issuing of electronic money.


9.2       The User acknowledges that the funds received in exchange for electronic money issued by the Issuer do not constitute a deposit and no interest shall accrue on such funds irrespective of the length of time the money are held in Epayzz account.


10    Fees & Charges

10.1     Fees and Charges are set out in the Fees section of the Website. These Fees and Charges form an integral part of this Agreement. The Issuer will deduct any applicable Fees and Charges as they are incurred. From time to time the Issuer may update the fees and charges as deemed necessary.

10.2     In ePayzz all the fees are calculated in EUR. In case of any activity in different currencies Epayzz converts the min to EUR. This may lead to a slight rounding differences.


11    Technical Criteria

11.1     Epayzz wallet is only available if the following technical criteria’s are met;

a)     the availability of a personal computer, a tablet or a mobile phone (device)

b)    Internet connection

c)     Browser software suitable for viewing the website


11.2     The User shall ensure that all the technical criteria’s required for the utilisation of Epayzz are met and that the settings are correct, including the maintenance of the hardware, the anti-virus protection of the software on the hardware, and the back-up and security of the data stored on the User’s device. The entire cost of establishing the electronic connection for using the Epayzz wallet shall be borne by the User.


11.3     The Issuer reserves the right to change/amend/update the technical conditions if it is deemed necessary.  In such a situation, the User is requested to ensure that at its own expense, he updates and change to be in line with the new technical conditions.


11.4     The Issuer will be entitled to check before the use of the Epayzz wallet whether the User’s browser meets the above mentioned technical criteria.  The checking of the browser applies to the device and not to the UserID.


11.5     The Issuer will not be liable for any damage caused

              i.        by the User’s improper use of the devices necessary for using Epayzz wallet,

             ii.        by the User’s failure to exercise due diligence in selecting the appropriate and safe environment for using Epayzz wallet and Service.

11.6     The Issuer will not be responsible for the damage caused by a virus in the User’s computer system. The Issuer will not be responsible for any loss or damage to your data, software, computer, computer networks, telecommunications, or other equipment caused by accessing or using the epayzz wallet unless such loss or damage is directly or solely caused by the Issuer’s negligence, willful default or fraud.


11.7     The Issuer reserves the right to change the Agreement (including Fees) by providing a copy of the changes through the Website or by e-mail, not later than 30 days before their proposed date of the application. The User is deemed to have accepted the new changes, unless the User notify the Issuer about his rejection to such changes before the proposed date of their entry into force.  The User have the right to terminate the Agreement immediately and without any additional charge.


11.8     The Issuer reserves the right to change the range of the services available through the Epayzz wallet, offer different transaction orders and service. The Issuer reserves the right to terminate any existing transaction orders and services or suspend them temporarily if it is necessary due to a related risk or change in the legislation.


12    Issuer’s Liability

12.1     The Issuer is not liable for any losses incurred by the User arising from the Issuer’s compliance with any of its Legal or Regulatory requirements.


12.2     The Issuer shall not be liable for any loss or for any failure to fulfill its duties under the Agreement if such loss or damage if caused, directly or indirectly, by force majeure such as the act of God, any act by any Competent Authority or Government, civil commutation, an act of terrorism, rebellion, flood, storm, tempest, fire, the failure, malfunction or unavailability of utilities, telecommunications or other industrial action or trade disputes or other cause whether similar or not, outside the Issuer’s reasonable control and which makes it practically impossible for Issuer to comply with his obligations under the Agreement.


12.3     The Issuer has no responsibility or liability for a Merchant refusing to honour an underlying transaction in respect of which the User have made a Transaction on his epayzz wallet or failing to cancel such transaction. The Issuer take no responsibility for any losses incurred relating to the quality, safety and legality of any goods or services provided by the Merchant or other Payee


12.4     The Issuer shall be responsible to reimburse an equivalent amount, to any incorrect amounts deducted from the User’s account, following the necessary investigations as soon as practicably possible.


12.5     The Issuer will not be held liable for any acts or omissions of or any fees charged by third parties, such as other banks, for use of their facilities or services, or for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between the User and another Money Plus Card Client.


13    Disputes

13.1     The Issuer is not legally bound to assist in resolving any disputes between the User and the Merchants. 


13.2     The Issuer, at his own discretion, may attempt to assist the User with a dispute with the Merchant.  In such a case, the Issuer reserves the right not to refund sums to the User if the Issuer believes that the User have not acted in accordance with this Agreement. Refund will be provided at the closure of the Investigation and it will be taken back if information proves that the Transaction was in fact genuine and correct.


13.3     If the Issuer’s investigation discovers that the disputed Transaction was genuine and authorised by the User, the Issuer may charge the User a Fee as detailed in the Website.

14    Contact Details Changes

14.1     The User is obliged to inform the Issuer of any changes in his contact details within 15 business days from the change. The Issuer should not be held liable for loss or damage suffered because of incorrect or incomplete information provided to him by the User.

15    Consumer Complaints Handling

15.1     Any Complaints should be addressed to the Issuer in the first instance by contacting our Customer Service, as per such details and parameters as designated from time to time on the Issuer’s official website. The User compliant will be handled in accordance with our complaints procedure, a summary of which is available on the FAQ section of the website. 


15.2     If User’s complaint is not resolved to his satisfaction, he may contact the Office of the Financial Arbiter for Financial Services, 1st Floor, St Calcedonius Square, Floriana FRN 1530, Malta For additional contact detailsone may visit www.financialarbiter.org.mt or send an email to complaint.info@financialarbiter.org.mt.

16    Termination

16.1     The User will initiate the termination process of his contract at any time by completing the termination form available of the Issuer’s website and by sending it to the Issuer. The User is obliged to provide us with sixty (60) days prior notice. This will not entitle the User to a refund of any Transactions the User have made (authorised or pending) or charges incurred and where applicable, to a refund of any Fees that the Issuer have charged prior the Termination.


16.2     The Issuer will examine the User’s request for contract termination and at his discretion he may accept the request of contract termination based on the terms specified by the Issuer.


16.3     The Issuer may terminate this Agreement, by given thirty (30) days’ prior notice in writing.


16.4     The Issuer may terminate this Agreement with immediate effect by giving notice in writing, in the following circumstances:

  • if the Issuer decide to close the User’s epayzz wallet for any reason whatsoever;

  • if the User is residing in any of High Risk and Non-Cooperative Jurisdictions as advised by the FATF;

  • if the User have not complied with this Agreement;

  • if the Issuer have reasons to believe that the User have used, or intend to use the epayzz wallet in a grossly negligent manner or for a fraudulent or otherwise unlawful purpose, including money laundering , funding of terrorism and/or other criminal activity;

  • if the Issuer have any other security concerns;

  • if the User suspend the payments of any your debts or are unable to or admit inability to pay your debts as they become due, or if a curator, administrator, receiver or liquidator (or similar officer under applicable law) is appointed in bankruptcy proceedings (or similar proceedings under applicable law);

  • if the Issuer need to comply with the required laws;

  • if the Issuer cease to provide the services under this Agreement; or

  • if the Issuer is unable to process Transactions due actions carried out by third parties.

16.5     Where the epayzz wallet has a zero balance for 30 consecutive days, the User is required to top up the wallet within the following 15 businesses days, in default of which the Issuer can proceed to close the epayzz wallet and terminate this agreement without any notification.


16.6     If the epayzz wallet has not any Transactions (excluding all and any Fees and charges that may apply) for a period of at least 1 year, the Issuer reserve the right to close it and to terminate this Agreement.  The Issuer will notify the User intentions before closing the epayzz wallet.


16.7     Upon termination of this Agreement, all pending Transactions and Fees will to be processed and deducted from user’sepayzz wallet, and if a positive balance remains, the Issuer will redeem this accordance with Section 7.


17    Data Protection

17.1     The Issuer undertakes that he will only process the Personal Data of the User and such other persons identified by the User, as part of a transaction or during the operation of the User’s epayzz wallet in accordance with the terms of this agreement, specifically in accordance with the Privacy Statement.  The Issuer’s Privacy Statement is available on the Website.  It contains details on how the Issuer use Personal Data, the privacy rights of individuals together with our commitments in relation to using Personal Data.


17.2     The Issuer reserves the right to record any telephone conversations between the User and the Issuer and that such recordings may be used as evidence of the instructions given by the User or, for the purposes of improving the services.



18    Intellectual Property

18.1     The Intellectual Property rights in all data, information, systems, processes or other material used by or developed by the Issuer for the purposes of providing the Epayzz Walletor performing the Issuer obligations under the Agreement shall remain vested, or upon their creation vest, in Issuer or the Issuer’s licensors. The User shall use such material only for the purpose of receiving the Services, as contemplated by the Agreement. The Intellectual Property rights and contents of the Epayzz Wallet and Website are owned by the Issuer’s licensors or the Issuer. Reproduction of part or all of the contents of the App in any form is prohibited without the Issuer prior consent.  The Users are responsible to promptly notify the Issuer of any infringement or threatened infringement or of any challenges to validity or ownership of any Intellectual Property or other right of the Issuer of which the User become aware and will provide reasonable assistance to the Issuer at Issuer expense, in connection therewith.

19    General

19.1     If any of the conditions of these Terms and Conditions is, or becomes, unlawful, invalid or unenforceable, it does not affect or limit the legality, validity or enforceability of the other provisions.


19.2     No other persons than the User have any rights under this Agreement.  The Epayzz wallet is personal to the User and cannot be assigned or otherwise transfer any rights under this Agreement to any third party, without the Issuer prior consent in writing.


19.3     Any references to the male gender shall include the female gender or any legal person that is the user, and vice versa.


19.4     All notices documents consents approvals or other communications (a “Notice”) to be given under this agreement shall be in writing and shall be transmitted either by physical means or by facsimile or other electronic means and served to the relevant and official address, fax or email of the other party.


20    Jurisdiction

20.1     This Agreement is governed by the Maltese Laws.  All disputes arising out of/or relating to this Agreement shall be resolved by the Maltese Courts, except where European Union legislation requires a specific dispute to be resolved by the courts of another jurisdiction.



By Reward Cash-back Program Terms & Conditions


21    Basis of the Contract

21.1     Merchant side

21.1.1    Upon opening a corporate account at Money + Card Payment Institution Ltd. by providing the required documents the Merchant has the opportunity to join to By Reward Cashback Program.

21.1.2    In order to join to By Reward Cash-back Program the following prerequisites must be met:

-       Existing Money + Card corporate account

-       Filled and signed Epayzz & By Reward Merchant Application form

-       Epayzz should be downloaded to Merchants mobile phone.

21.2     Member side

21.2.1    Upon downloading epayzz mobile wallet application to user’s mobile phone and accepting general terms & conditions the user can be on three levels.       Level 0

-       The user is on ’spectator mode’. He/She can browse between Merchants who offer cash-back bonus.

-       The user on Level 0 is not eligible for cashback.       Level 1

-       The epayzz user gives personal data to upgrade it’s status to level 1

-       The user has access to limited e-money. 150€/ monthturnover is allowed.

-       Can send and receive money

-       Can invite other users to Epayzz

-       Upon exceeding monthly e-money turnover cashback is no longer will be transfered to client’s epayzz wallet account.       Level 2

-       The epayzz user upgrades to level 2 by accomplishing the following requirements

  • Already upgraded to Level 1

  • Top-up wallet with at least 10 EUR

  • Validate ID with epayzz’s built-in ID & face recognition module

  • Ordering& activating Money + Card MasterCard. The card will be delivered to the given address.

-       This is a paid feature. Feesarelisted in ’Feelist of ePayzz – ByReward’.

-       By upgrading to Level 2 epayzz client becomes unlimited e-money member. There are no restrictions regarding e-money turnover.

22    Responsibilities

22.1     By signing the contract the Merchant must give cash-back to epayzz clients after every purchase.

22.2     The cash-back procedure between Merchant and Buyer is an automatic process that fulfillment of which is Money + Card is responsible for if the following requirements are done.

22.2.1    It is the Merchant’s responsibility tohave sufficient amount of deposit in it’s Money + Card account for giving cash-back to the Customer in case of every purchase with epayzz or Money+Card MasterCard. Otherwise the Merchant will be charged with extra fees to pay off epayzz client afterwards by Customer Service’s intervention.

22.2.2    Money+Card account holder must download epayzz and activate loyalty service in order to receive cash-back from Money+Card Merchants

22.2.3    Epayzz clients at level 1 should not exceed monthly turnover in order to receive cash-back from Money+Card Merchants. Exceeding monthly turnover will block every incoming and outgoing transaction in epayzz.

22.2.4    Epayzz clients upgrading to level 2 will not receive previously blocked cash-back. Epayzz client cannot demand not received cash-back due to monthly turnover exceedance from Money+Card nor from Merchants.

22.2.5    When the customerreturns the product to the Merchant the customer must transfer back the amount of the cashback to the Merchant via epayzz.

22.2.6    Gift shop coupons are retailed in Epayzz. For the price of the gift shop coupons the issuer must issue an invoice to By Reward.

22.2.7    By Reward gets commission after every sold gift shop coupons. Regardless if it is redeemed or expired. See’Feelist of ePayzz–ByReward’.