Last updated: 11 August 2025

CONCISE DISCLOSURE IN ACCORDANCE WITH THE PAYMENT SERVICES LAW

Concise Description of Material Terms of the Card & Spend Management Terms

Please note that the information below is a summary only. For the full version of the Card & Spend Management Terms, please refer to the complete agreement provided below

CARDS & SPEND MANAGEMENT TERMS 

ISRAEL

1. INTRODUCTION

1.1 These Card & Spend Management Terms (the ‘Terms’) is a supplement to the Treasury Management Terms (the ‘Customer Agreement’) and it must be read together with the Customer Agreement. These Terms together with the Customer Agreement govern the use of Airwallex cards (‘Cards’) by you (‘Customer’ or ‘you’) and your Additional Cardholders. These Terms are incorporated into and form part of the Customer Agreement as if set out in full in the Customer Agreement. The Card is a payment instrument we issue, and therefore the provisions of the Customer Agreement that are applicable to payment instruments shall apply to the Card     . Unless otherwise defined throughout these Terms, all capitalised terms have the meanings given in the Customer Agreement. In the event of any conflict or inconsistency between the provisions of these Terms and the provisions of the Customer Agreement, the provisions of the Customer Agreement shall prevail. 

1.2 You should also download a copy of these Terms and keep it for future reference or ask us for a copy at any time. You can always see the most current version of these Terms (as well as the Customer Agreement), on our website www.airwallex.com. If we need to send you information in a form you can keep at any time, we will either send you an email or provide information on our website or via the Airwallex Platform that you can download. Please keep copies of all communications we send to you.

1.3 The Card is issued by Airwallex (Israel) Ltd. (‘Airwallex’, ‘us’ or ‘we’), which has its registered office at Derech begin 132, Tel-Aviv. Airwallex’s contact details are set out in the Customer Agreement.

1.4 You or any Authorised User may request that a Card be issued to you or any Additional Cardholder in accordance with clause 3. If we agree to your request, these Terms shall apply to the use of any Cards we issue to you or any Additional Cardholder. These Terms apply separately to each Card. Upon cancellation of a Card, these Terms will terminate in accordance with their terms with respect to that specific Card. These Terms will automatically terminate in accordance with their terms, and all cards will be canceled, upon termination of the Customer Agreement. Upon suspension of the Wallet in accordance with the Customer Agreement all Cards will automatically be suspended. By applying for, or using, a Card, you confirm that you accept and agree to these Terms as they may be amended from time to time by Airwallex in accordance with Section 5 of the Customer Agreement. If you do not agree to the terms of these Terms, please do not apply for, or use, your Card. Without limiting any provision of the Customer Agreement, your obligation to pay us for any transactions made using the Card, as well as any provisions relating to your liability under these Terms, shall survive the termination of these Terms. 

2. USING THE CARD

2.1 Applying for a Card. You or an Authorised User may request a Card, to be issued in the form of a virtual card (‘Virtual Card’) or a physical card (‘Physical Card’). If we agree to the request: 

(a) if you or an Authorised User requests a Virtual Card, a Virtual Card consisting of a 16-digit primary account number, expiry date and ‘(CVV/CVV2)’ code (the ‘Card Details’) will be made available to you through the Airwallex Platform; and

(b) if you or an Authorised User requests a Physical Card, a Physical Card will be sent to you in the mail to the address given to us at the time of request. 

2.2 Your Card is linked to your Wallet and can be used to pay for goods and services using the balance of your Wallet. We will not set up a separate account in connection with your Card. The Card is not a credit card and can only be used for purchases up to the value stored in your Wallet balance at any given time. Before making a Card Transaction you must therefore ensure that your Wallet has sufficient balance as we will not provide you with any credit in connection with your use of the Card.

2.3 You must only use your Card for lawful purposes. Nothing in this Clause 2.3 shall be construed as imposing an obligation on us to verify the legality of any Card Transaction, and we shall not be liable to you in connection with the illegality of any Card Transaction or related charge. All Cards remain our property and we may request that you return all Cards to us at any time.

2.4 Virtual Card. A Virtual Card may be used to make purchases over the phone or the internet or in any ‘card not present transaction’ by entering your Card Details where a Visa card                is accepted as a payment instrument. A Virtual Card cannot be used to make a payment in person or in any transaction which requires the use of a Physical Card. Virtual Cards may be issued for one time use (meaning they can only be used for a single Card Transaction) or can be issued so that they can be used repeatedly until the expiry date and subject to these Terms.

2.5 Physical Card. When you receive a Physical Card, you must sign the back of the Card and activate the Card. Physical Cards may be used in the same way as a Virtual Card using the Card Details and may also be used for in store and card present transactions where Visa is accepted electronically. We may not permit the Card to be used for manual or offline transactions. If the Card functionality will be so limited we will notify you of this at the time we approve you for a Physical Card.

2.6 If your Physical Card has the payWave logo present, you may be able to make transactions by tapping your Card against the contactless reader at a participating merchant.  Certain transactions may require PIN entry based on our internal controls. Currently, Card Transactions made in Israel exceeding NIS 300 require PIN entry; however, this amount may be updated from time to time. When you sign a receipt, enter your Card’s PIN, or use any other identification method to make a Card Transaction, you must review the transaction details as shown by the merchant and confirm they are correct. Your confirmation will constitute evidence that the transaction was carried out as presented by the merchant. For the avoidance of doubt, any Card Transaction for which you enter a PIN shall be deemed a 'card present transaction' and shall not be considered a 'card not present transaction' (Peulat Tashlum Be'Mismach Haser), including for the purpose of the PSL. 

2.7 Pre-authorisation. You may pre-authorise the estimated amount of (or a certain percentage of) the final amount of a Card Transaction with a merchant. The amount of the pre-authorisation may be reflected in the balance of your Wallet and may be held      and made unavailable for future purchases. Any portion of such pre-authorised amount which is not applied towards the payment of goods or services will thereafter be released and made available to you.

2.8 Currency conversion. Your Card may be used to make purchases in Direct Billing Currencies and Visa Supported Currencies.

2.9 If your Card Transaction is in at:

a.) Direct Billing Currency, the amount of your transaction shall be deducted from the balance of your Wallet in that Direct Billing Currency. If you do not have sufficient balance in the relevant Direct Billing Currency and you have automatic FX Exchange Rate conversions enabled for a Card, Airwallex will: 

(i) automatically convert the transaction currency to your Home Currency at the prevailing FX Exchange Rate plus the Automatic Conversion Fee, as defined in the Fee Schedule; and 

(ii) deduct the transaction amount from the Wallet balance of your Primary Currency. 

b.) Visa Supported Currency, the amount of your transaction will be converted: (i) to USD by Visa using the prevailing foreign exchange rates determined by Visa for that transaction; and (ii) Airwallex then converting that USD amount to your Home Currency at the prevailing FX Exchange Rate and deducting the transaction amount from the balance of your Wallet maintained in your Home Currency. You acknowledge and agree that we have no control over the rates selected by Visa and we will pass on to you the rates Visa may charge as part of this conversion process. 

2.10 You should ensure that your Wallet has sufficient balance in the relevant currency for a Card Transaction. If the balance of your Wallet is not sufficient in the relevant currency, the transaction may be declined (even if your Wallet has balances maintained in other currencies). You acknowledge that Airwallex and/or Visa may perform multiple currency conversions in order to settle a particular transaction.

2.11 Refunds. If you receive a refund on a card payment in a Direct Billing Currency that you are permitted to hold in your Wallet, we will credit your Wallet in that currency. If you receive a refund in anything other than a Direct Billing Currency that you are permitted to hold in your Wallet, that amount will be converted into USD at an exchange rate determined by Visa and then to your Home Currency by Airwallex at the prevailing FX Exchange Rate before being credited to your account (which may be different to the exchange rate for the original transaction). Generally, transactions made in one currency must be refunded in that same currency. Refunds of transactions made through your Card shall be credited to the balance of your Wallet and may not be made through other means (for example, through cash).

2.12 Merchant surcharges. In some instances you may also be charged a surcharge by merchants in connection with the use of your Card. The surcharge may be applied once you have confirmed the amount of the transaction. This surcharge may appear as a separate transaction or as part of the entire purchase amount. Once you have confirmed the transaction you will not be able to dispute the surcharge amount.

2.13 Authorisation and Suspension. Transactions on your Card may require our authorisation. We may in our reasonable discretion decline to authorise a Card Transaction, including in cases where the Card Transaction involves certain merchants or merchant categories, is requested to be carried out in a particular manner that we do not support, raises concerns that the Card is being used for potential Unauthorised Transactions, may breach Applicable Law, or is not permitted under arrangements between us and the relevant acquirer. We may decline authorisation even if the Card Transaction amount does not exceed the funds available in your Wallet. If we refuse to authorise a Card Transaction (in whole or in part), we will notify you of the refusal within a reasonable time under the circumstances. To the extent permitted by Applicable Law, the notice will state the reason for the refusal and, if applicable, how you may resolve the issue, unless doing so would undermine the purpose of the refusal, be unlawful, or raise reasonable suspicion of fraud. Before we authorise a transaction we may require you to confirm your identity by following certain steps specified by us, including using an Essential Component. You acknowledge and agree that we are not liable to you or any other person for any loss suffered as a result of an authorisation not being granted. Nothing in this Clause 2.13 shall be construed as imposing an obligation on us to verify the legality of any Card Transaction, and we shall not be liable to you in connection with the illegality of any Card Transaction or related charge.

We may immediately suspend the use of your Card because the balance of your Wallet is insufficient, the transaction exceeds any transaction limit in connection with your Card from time to time, we suspect that there is fraud or a security issue or we suspect that your Card is being used for an illegal purpose or you have materially breached the Customer Agreement, these Terms or any Additional Terms, and for any other reason specified under the ‘Termination and Suspension’ clause of the Customer Agreement. We will give you notice of any suspension and the reasons for such suspension as soon as we can, before the suspension is put in place, unless it would compromise our reasonable security measures, the purpose of the suspension, or would otherwise be unlawful, including where we reasonably suspect a fraud. In such case we will notify you as soon as reasonably possible after the suspension. We will lift the suspension as soon as practicable after the reasons for the suspension have ceased to exist. We will allow you to use or if necessary replace the Card as soon as practicable after the reasons for suspending  its use cease to exist. 

2.14 Expiry date. Unless you tell us not to, we may automatically issue a replacement Card on or prior to the expiry date of an existing Card. We have no obligation to issue a replacement Card. You must not use a Card after its expiry date, and must destroy any expired Physical Card. If a Card expires and we do not issue a replacement Card, these Terms will terminate solely with respect to that expired Card. 

2.15 Goods and Services. We are not responsible for the quality, time of delivery, safety, legality, or any other aspect of any goods or services purchased with the Card. We are not liable for any loss arising from any merchant refusing or failing      to accept your Card, or accepting      it subject to any conditions. We are not a party to the underlying transaction between you and the merchant in connection with the Card Transaction. Any complaints about any goods or services purchased with a Card must be resolved directly with a merchant. We shall not be obligated to take any action against any merchant in connection with any claim made by you or any Additional Cardholder; provided, however, that if any amount is refunded to us by a merchant in connection with a Card Transaction made using the Card, such amount shall be credited to the Wallet in accordance with Clause 2.11 and subject to any Service Fee.

2.16 Transaction and Card limits. We may from time to time agree transaction limits on your use of the Card which may be on a per day or per transaction basis. Other third party organisations may impose additional restrictions on the amount of your transactions. We may also place limits on the number of Cards you can request from us each month or that you may have active at any one time.

2.17 Digital Wallets.  We may permit you and any Additional Cardholder to store the Card in a digital wallet provided and operated by a third party. Use of the Card through a digital wallet is subject to our additional terms and conditions, as well as the terms and conditions of the applicable third-party provider. For the avoidance of doubt, any Card Transaction made through a digital wallet shall be deemed a 'card present transaction' and shall not be considered a 'card not present transaction' (Peulat Tashlum Be'Mismach Haser), including for the purpose of the PSL.

3. CARD MANAGEMENT; ADDITIONAL CARDHOLDERS

3.1 Who may request Cards. You and each of your Authorised Users which are authorised by you to request Cards may request a Card be issued to you or an Additional Cardholder. Cards may (a) be issued to Additional Cardholders that are your employees for use in connection with your business and (b) only be issued for business purposes and may not be issued to any person that is not your employee.

3.2 You must or you must ensure that we will be provided with the following details of an Additional Cardholder including: name, address, phone and email address and any other contact or identification information of the Additional Cardholder that we may reasonably require. You must inform us promptly if any details previously provided about an Additional Cardholder changes or is incorrect. You will ensure that your Additional Cardholders comply with the Customer Agreement and these Terms and in respect of your obligations and liabilities under this agreement and for such purposes any references to:

(a) ‘you’ shall (where the context requires) be read as including your Additional Cardholders; and

(b) any reference to ‘your Card’ or ‘Card’ shall (where context requires) include Cards issued to Additional Cardholders.

You declare and confirm that you have authorized each Additional Cardholder to hold and use the Card and to make any Card Transactions permitted under these Terms. Any use of the Card by an Additional Cardholder will be considered as your own and will bind you as if you had made the transaction yourself. You remain fully liable for any use of the Card by the Additional Cardholder, including any use that goes beyond these Terms, any Applicable Law, or the authority you granted. This liability will continue even if your relationship with the Additional Cardholder ends or changes, including if you later limit or revoke their authority.

3.3 We may in our discretion refuse to issue a Card to an Additional Cardholder (for example, where we have not been provided with information we have requested about the Additional Cardholder) or limit the number of Additional Cardholders in connection with your Wallet.

3.4 Your liability for Additional Cardholders. You acknowledge and agree that you are liable for all Card Transactions made by an Additional Cardholder using a Card. You are also bound by all requests made by an Authorised User for us to issue a Card.

3.5 Cancelling and suspending a Card. You or any Authorised User which are authorised by you can view details of the Cards that have been issued in connection with your Wallet and you or any Authorised User which are authorised by you may request that any of those Cards be cancelled. Cancellation of a Card shall take effect no later than one Business Day after the date you requested the cancellation.  You or any Authorised User which are authorised by you may request to suspend a Card through the Airwallex Platform at any time. The suspension will remain in effect until you or any Authorised User which are authorised by you choose to lift it through the Airwallex Platform. However, we may limit the suspension period to a maximum of 14 days, or a longer period at our discretion, in which case the suspension will end upon the earlier of the expiry of the 14-day period (or such longer period, if applicable), or your decision to lift the suspension.

3.6 You will however remain liable for all Card Transactions made through your Card prior to its cancellation and for all Card Transactions posted to your Wallet in respect of the period up until the Card is cancelled.

3.7 Card restrictions. You may request us to place a special restriction on:

(a) the maximum amount for a Card Transaction that may be conducted using a Card;

(b) the place at which, or merchant with which, a Card may be used.

Such a request must be made to us in writing or, if we permit, through the Airwallex Platform. We will inform you if we approve the request.

3.8 It is your obligation to notify each Authorised User of any restrictions that apply to a Card and the rules regarding the use of Cards.

4. SAFETY AND SECURITY

4.1 You must:

(a) only allow Authorised Users authorised to use a Card issued to you to use that Card and not any other person;

(b) only allow an Additional Cardholder to use a Card that has been issued to them to use that Card and not any other person;

(c) not give your PIN or the Essential Component to anyone else;

(d) not use identifiable numbers which could be easily guessed by someone else for your PIN;

(e) regularly monitor your account and Wallet to make sure no Unauthorised Transactions have occurred;

(f) not record the PIN on anything carried with your Card or on anything liable to loss or theft simultaneously with your Card, unless you make a reasonable attempt to protect the security of the PIN; and

(g) if your Card is lost or stolen, or if the Essential Component is lost or stolen, if you suspect that someone else knows your PIN or your Card Details, or if you think your Card, Card Details or PIN may be misused, stop using the Card and contact us immediately.

4.2 You must also comply with any additional security requirements we notify to you from time to time.

4.3 We may disclose any information we believe to be reasonable to law enforcement agencies if we suspect there has been any unauthorised use, misuse or fraud in connection with your Card.

5. HOW TO REPORT A LOST OR STOLEN CARD OR UNAUTHORISED USE

5.1 If you believe your Card has been lost or stolen or used without your authorisation, or that any Essential Component has been lost or stolen or otherwise compromised, you must notify us immediately by emailing us at: [email protected]

5.2 We may request additional information from you in connection with any misuse of your Card or Unauthorised Transactions made with the Card including date of transaction(s), amount(s), details of the merchant and any other details that may assist us in investigating your claim. You agree that you will cooperate with us in investigating any claims in connection with the misuse of your Card or Unauthorised Transactions made with the Card.

6. LIABILITY

6.1 Subject to the terms of the Customer Agreement, you are liable for all transactions made by you, any Additional Cardholders or Authorised Users using a Card until such time as such Card expires or is cancelled.

6.2 Without limiting any clause of the Customer Agreement, you will be liable for all Unauthorised Transactions where you have contributed to the loss by:

(a) making the Essential Component, including by breaching clause 4 above, available to another person, whether the Unauthorised Transactions were made with or without your knowledge, except where: (i) The Essential Component was made available to the other person in reasonable circumstances for safekeeping purposes only, or was made available to a merchant for the purpose of placing payment instruction through that merchant, and (ii) the Unauthorised Transactions were made after the Essential Component made available to the other person was stolen from that person or lost by that person.; or

in which case you will be liable for all Unauthorised Transactions until such time as you notify us of the loss, theft or misuse of your Card or Essential Component. 

6.3 We are not responsible for any decision by a merchant to accept or reject the use of a Card or for any charges incurred by any user of a Card who does not, in fact, have sufficient authorisation from you to use the Card.

6.4 You will not be liable for any Unauthorised Transactions made using the Card after the Card has been cancelled or these Terms have been terminated with respect to that specific Card, or during any period in which the Card was suspended.

6.5 You will not be entitled to any refund for Unauthorised Transactions under these Terms or the Customer Agreement if we find that you, your Authorised User, Additional Cardholder, or anyone else acting on your behalf, has acted fraudulently in connection with the use of the Card.  

6.6 without limiting the generality of Clause 2.15, your liability shall be limited as provided in the PSL and subject to its terms in the event of merchant's failure to deliver goods or services under an underlying transaction and in the event of an unauthorised increase to the amount of a transaction. 

6.7 In the event of a Card Transaction with a merchant that provides goods or services on a deferred basis, and such merchant enters into insolvency as described in Section 18 of the PSL, we shall act in accordance with the provisions of the PSL and Applicable Law in effect from time to time with respect to the suspension of future payments to the merchant. Our respective rights and obligations in such cases shall be governed by the related provisions of the PSL.

6.8 without prejudice to any provision of the Customer Agreement, including Clause 17 thereof, we shall not be liable to you for any act or omission of the Payment Network. 

7. CHARGEBACKS

7.1 We may be entitled to seek to reverse (chargeback) transactions made through your Card where you have a dispute with the merchant that supplied the goods or services, including, in accordance with the PSL and subject to these Terms. 

7.2 To avoid losing any rights you may have to dispute such a transaction, you should:

(a) tell us as soon as possible after the date of the Card Transaction; and

(b) provide us with any information we ask for to support your request.

7.3 If we are satisfied that you are entitled to reverse a Card Transaction under Applicable Law, unless required by Applicable Law, the amount initially debited for the transaction will be credited to the Wallet in the original currency of the transaction if that currency is a Direct Billing Currency or, if the transaction is in a Visa Supported Currency, it will be credited in the Home Currency using the then prevailing exchange rates determined by Airwallex after first being converted to USD by Visa at the prevailing exchange rate determined by Visa. 

7.4 You should notify us immediately of a disputed transaction. Generally, under the PSL, claims relating to 'card not present transactions' or to an unauthorised increase in the transaction amount must be raised within 30 days. If you do not notify us and provide us with sufficient information, we may be unable to investigate or lodge a claim in time in which case you will be liable for the transaction. It is your responsibility to review carefully your transaction history. We are not responsible for any loss to you if you do not ask us to reverse a transaction in time.

7.5 To notify us of a disputed transaction, please contact us and request a transaction dispute form and send the completed form to Airwallex at Airwallex Card Transaction Disputes by either:

Mail: Derech begin 132, Tel-Aviv

Email: [email protected]

7.6 Please assist us by providing as much information as you can. Once we have received your completed form and associated information, we can only investigate the Card Transaction on your behalf when the transaction has settled. Settlement of a Card Transaction is evident when a post date is recorded in the Wallet. Our aim is to acknowledge receipt of your dispute form within 5 Business Days of receipt. However, the investigation of your disputed transaction may take longer.

8. Recurring Transactions

8.1 Definition of Recurring Transactions A “Recurring Transaction” means a Card Transaction where the merchant has informed us that you have authorised them to charge your Card on a recurring basis, at their request and subject to your authorisation (for example, for subscriptions, memberships, or utilities).

8.2 Limitations

You may authorise a merchant to charge your Card for Recurring Transactions.  Such authorisation is subject to our prior approval, which we may grant, withhold, or limit at our discretion. We may also cancel your authorisation or decline any specific Recurring Transaction made in accordance with your authorisation, for reasonable grounds. If we do so, we will notify you of the cancellation or decline (as applicable) and its reasons.   

8.3 Right to Cancel Recurring Authorisation

You may revoke a Recurring Transaction authority at any time by contacting the merchant directly and instructing them to stop future charges. The cancellation shall take effect within one Business Day from the day the merchant notifies us. 

In addition, you may request us to block or stop a Recurring Transaction on your Card by contacting support.  The cancellation shall take effect within one Business Day of your request. 

8.4 Unused Authorisations

Any Recurring Transaction authorisation that remains unused for 24 consecutive months shall be automatically canceled. 

8.5 Cancellation of a Specific Recurring Transaction

You may cancel a specific Recurring Transaction by contacting support no later than 3 Business Days after the transaction was charged. 

8.6 Recurring Transaction Exceeding the Authorisation

We will process Recurring Transactions that exceeds your authorisation. You are responsible for regularly reviewing your transaction history and informing us promptly if a Recurring Transaction exceeds your authorisation.

9. ATM Withdrawal

9.1. You and any additional Cardholder may use the Card to withdraw cash from ATMs that accept the Cards, provided there is sufficient balance in your Wallet.  We may designate certain ATMs as unsupported for use with the Card.  From time to time, we may impose limits on the amounts that may be withdrawn. All cash withdrawals will be immediately debited from your Wallet and, without limiting the generality of these Terms, will also be subject to the provisions of Clause 2.8 (Currency Conversion).

9.2. You and any Additional Cardholder undertake to use the ATMs strictly in accordance with the operating instructions displayed on or near the ATM.  We shall not be liable for any issues arising from the use of an ATM in a manner inconsistent with such instructions.

9.3. ATMs are owned and operated by third parties ("ATM Operators"), and not by us. Accordingly, we will not be liable for any malfunction or failure of an ATM, including but not limited to unsupported Cards or functions, communication failures, unavailability of cash, or similar issues.

9.4. The use of an ATM may be subject to a Service Fee.  In addition, you acknowledge that the ATM Operator may impose additional fees for use of the ATM. 

10. AMENDING THIS AGREEMENT 

For the avoidance of doubt, these Terms may be amended as set out in the Customer Agreement.

11. EXPENSE MANAGEMENT & BILL PAY

11.1 Permissions. Through the Airwallex Platform, the Customer may assign permissions to Authorised Users to:

(a) review and approve Card Transactions made by Cardholders; and/or

(b) review and approve invoices submitted by the Customer’s employees,

(together, the “Expense Management Permissions”).

11.2 The Customer is responsible for ensuring that any Authorised User that is assigned Expense Management Permissions has the necessary authority to act in such a capacity. Airwallex shall be entitled to rely on actions taken by any Authorised User in accordance with the Expense Management Permissions assigned to them by the Customer and the Customer shall be bound by such actions.

11.3 The Customer may revoke any Expense Management Permissions assigned to an Authorised User by updating the Expense Management Permissions through the Airwallex Platform.

11.4 Expenses. Cardholders may submit receipts or other documentation relating to Card Transactions through the Airwallex Platform for Authorised Users to review in accordance with the Expense Management Permissions.

11.5 Bill Pay. The Customer’s employees may submit vendor invoices through the Airwallex Platform for Authorised Users to review in accordance with the Expense Management Permissions. After reviewing and approving a vendor invoice, an Authorised User can pay the invoice by initiating a Payout in accordance with the Treasury Management Terms.

12. WAIVER

Clause 4 of the Customer Agreement shall specifically apply to these Terms. 

13. SERVICE FEES

You will pay us the Service Fees for the issuance and use of the Card, which are set out in the fees table available on www.airwallex.com (which forms part of these Terms) or as otherwise agreed in writing with us, and the applicable provisions of the Customer Agreement, including the Clause ‘Service Fees’     , shall apply.  

14. DEFINITIONS

In these Terms, the following definitions apply:

Additional Cardholder means a person to whom we have issued a Card to access the balance of your Wallet at your request.

ATM means Automated Teller Machine that accepts the Cards.  

Card means the ‘Visa Commercial Card’ or similarly named payment instrument issued by Airwallex to you or any of your Additional Cardholders which can be used as a means of making Payment using the balance of your Wallet on the terms set out in Customer Agreement and the card supplement. The Card may be issued as a Physical card or Virtual card.      

Card Details has the meaning given in clause 2.2.

Card Transaction means any purchase of goods or services made by you, your Authorised User or Additional Cardholder from a merchant, where payment is made using the Card, or, any ATM withdrawals made by you, your Authorised User or Additional Cardholder, as applicable. 

Direct Billing Currency means a currency that the Customer is permitted to transact in using a Card and which can be directly debited from the Customer’s Global Account in the same currency. 

Essential Component of a Card shall also include the Card itself, including the chip, and any of the Card Details, the PIN and/or any other element or combination of elements and/or one-time passwords provided to you or the Additional Cardholder for the purpose of initiating or authorizing Payment Instructions using the Card, and/or any link provided to you or the Additional Cardholder from time to time to approve or initiate a Payment Instruction using the Card, and/or any such unique combination of elements on the Card that enables payment instructions. In the context of digital wallets, the Essential Component shall also include the device in which the digital wallet is installed, the device identification code, the device’s access code, and/or the activation code of the digital wallet.

Home Currency means, with respect to a Card, the Supported Currency that Airwallex permits you to nominate from time to time or that Airwallex nominates for you by default.

Payment Network means Visa and any other similar scheme.

PIN means the personal identification number we issued to you to use with your Physical Card when making in store or card present transactions.

Physical Card has the meaning given in clause 2.2.

Primary Currency means a Direct Billing Currency that Airwallex permits the Customer to nominate from time to time or that Airwallex nominates for the Customer for Card Transactions.

Unauthorised Transaction means, the use of a Payment Instrument or an Essential Component thereof by a person who is not entitled to do so under these terms. Payment Instrument has the meaning given to it under the PSL, and includes the set of procedures required for making a Payout. An Unauthorised Transaction shall also include any unauthorised increase to the amount of a transaction.  

Virtual Card has the meaning given in clause 2.1.

Visa means Visa Inc. and its affiliates.

Visa Supported Currency means a currency supported by Visa in which payments may be made using the Card that is not a Direct Billing Currency that you are permitted to hold in your Wallet.