Checkout New Payoneer Prepaid Mastercard Terms and Conditions

Payoneer is an online financial service company similar to PayPal that provides online money transfer and digital payment services. One of the great features of Payoneer is that they give you a Mastercard which you can use to shop for goods and services globally online as well as withdraw your Payoneer funds directly from ATM stands.

Payoneer has been a decent alternative to PayPal especially in countries where PayPal still has some kind of restrictions. With Payoneer, you can pay and recieve payments from clients all over the world.

However, the company announced few hours ago that they have made some changes to their Mastercard terms and conditions. They went ahead to send PDF files containing the changes so am here to enlighten you more on it and make the document accessible to you whether you own a Payoneer account or not. In fact, it's important you own it if you are really into online business. Checkout the terms below.

IMPORTANT CHANGES TO YOUR PAYONEER PREPAID MASTERCARD® CARD TERMS AND CONDITIONS


Dear Valued Customer,
Some changes are being made to the terms and conditions of your Payoneer Prepaid MasterCard®
card, issued by Wirecard Card Solution Limited (“Card”), mainly in accordance with the requirements under the European Second Payment Services Directive (PSD2), which govern the Card services provided to you.

The updated terms and conditions will come into effect on January 13, 2018. Please review them carefully.
Following is a summary of the key changes.

1. Execution of Payment Transactions
Your payment transactions using the Card will be executed by the end of the business day following the time of receipt of the relevant payment order, subject to certain exceptions as detailed in the terms and conditions.

2. Unauthorized Transaction

You may not stop payment on purchase transactions originated by you, unless you notify us without undue delay on becoming aware of an unauthorized or incorrectly executed payment transaction and in any event no later than thirteen (13) months after the debit date.

3. Payment Transactions for Unknown Amounts
For payment transactions where you do not know the exact amount of the payment transaction at the time you authorize it, funds on your Card will not be blocked unless you authorize the exact amount to be blocked. This could be the case for payments you make at hotels or at fuel
stations, for example.
Blocked funds shall be released without undue delay as soon as we are aware of the exact amount of the payment transaction and immediately after receipt of the relevant payment order.

4. Refunds

You may claim a refund on purchase transactions originated by you only in such cases where you notify us without undue delay on becoming aware of an unauthorized or incorrectly executed
payment transaction and in any event no later than thirteen (13) months after the debit date.
If you are entitled to a refund, subject to specific conditions indicated in the terms and conditions, the refunded amount will be credited to your Card immediately and in any event no later than
the end of the following business day after the amount has been credited to our account.

5. Liability for Unauthorised Transactions

You will only be liable for a maximum of £35 (or the equivalent in the currency of your Card) up until the time you inform us that your Card has been lost or stolen, unless you have acted fraudulently or with intent or gross negligence. You will not be liable for any losses which occur on your Card after you have informed us that it has been lost or stolen.

READ ALSO: How To Send PayPal Funds Using Facebook Messenger

6. Communication
Enhanced means of communication for us to communicate with you are detailed in the updated terms and conditions.

These are the new updates and changes made on Payoneer Mastercard Terms and Conditions. Payoneer said that you are free to cancel your card request if you had already requested for it before reading this update.