TrueMoney Virtual Card Terms and Conditions

 

 

The terms and conditions apply to the usage of TrueMoney Virtual Mastercard (“Virtual Card”), which has been issued to you by True Money (Cambodia) PLC. (“TrueMoney”) upon your request. 

The Terms apply to you and your use of Virtual Card and they are a binding legal agreement between you and us. By accepting and/or using this Virtual Card, you have read, understood, and agreed to be bound by all of these Terms and Conditions. These Terms take effect when you activate a Virtual Card through your TrueMoney Wallet App. TrueMoney may change these Terms from time to time. Such changes will take effect as soon as they have been published on our TrueMoney App or website. It is your responsibility to review the Terms before creating or using a Virtual Card and to take note of any changes. 

 

1. Definitions

“Virtual Card” refers to Virtual Mastercard issued to you by TrueMoney upon your instruction and eligible criterion, satisfactorily fulfilled TrueMoney’s requirement to provide the service. 

“You” and “your” means the individual person who has subscribed to using the Virtual Card product and who are authorized to use the Virtual Card as specified in these terms and conditions.

“We,” “us” and “our” mean True Money (Cambodia) PLC.

“TrueMoney Wallet” means the USD Wallet where your Virtual Card will be linked and it enables you to make online purchases.

“TrueMoney App” refers to TrueMoney mobile application.

“PIN” refers to your 4 digits secret numbers created by you to authorize when you make every purchase. 

“3D Secure/Three Domain Secure” refers to a security protocol supplementing online transactions made using cards by authenticating cardholders with one time password (OTP). This OTP will apply when you add your virtual card for the first time with an online merchant.

“CVV ” refers to the 3 digits card verification value. This code can be viewed on your virtual card.

“Card Number” refers to the 12 digits numbers as displayed on your card. The 12 digits numbers can be copied and is required for every online purchase.

“Transaction”  Any online transactions and/or purchases (through a website, telephone or mobile application), including any third-party Apps, eCommerce transactions, mail order, telephone order transactions, in-app purchases and scan-to-pay transactions, in which you use your Virtual Card to pay a Merchant for their products or services.

 

2. Your Virtual Card

You can create a Virtual Card instantly from your TrueMoney App by following the necessary screen instruction provided. Your Virtual Card will be ready for use as soon as you have completed the screen instruction and accepted these terms and conditions. Each Virtual Card you created will have a unique Card number and a unique CVV number. Your Virtual Card will have a 4 years validity period, and your Virtual Card is linked to your TrueMoney Wallet. The Virtual Card is a prepaid and reloadable card. You can set the balance of Virtual Card within limits provided by TrueMoney and according to the wallet limitations. In case of errors or questions about your Virtual Card and/or linked Wallet, please contact our Call Center at (+855) 23 999639.

 

3. Fees and interest

You will not receive any interest on your funds on Virtual Card. There might be fees and charges associated with the use of your Virtual Card. By using Virtual Card you agree to be bound and paid all fees as required by TrueMoney and that TrueMoney may from time to time amend the above fees charges related to this product or service at our sole discretion. And, if TrueMoney will ever amend its fees and charges, we will notify you 21 days in advance prior to deducting fees from your wallet.

 

4. Use of Virtual Card

You may use the Virtual Card, as applicable, to purchase goods or services wherever your Virtual Card is honored as long as you do not exceed the balance available in your Wallet and/or defined default limit or any limit set by you in the card settings. 

You should be aware that some merchants such as Flight Companies, Cinemas, or Hotel may require to present the physical card for proofing purposes and can reject or refuse accepting the Virtual Card; therefore, you are required to read the merchant’s Terms and conditions before you purchase the products/service online. TrueMoney is not responsible for such rejection by the merchants for whatever reasons it may be for not accepting your transaction.

You will not be able to cancel a payment on any purchase transaction originated by Virtual Card after you authorized it. When you use your TrueMoney Virtual Card to pay for goods or services, we will debit the amount in your Wallet to cover the settlement. We will debit your Wallet in USD, before a settlement request from the acquiring bank although your Virtual Card is expired.

If you allow another person to have access to your Virtual Card details, you are liable for all transactions made with the TrueMoney Virtual Card, Card Number or Wallet Number, as well as all related fees and liabilities incurred by those persons. You are wholly responsible for the use of each Virtual Card Number according to the terms and conditions in this document.

 

5. Spending limits that can be set on Virtual Card

TrueMoney may define different limits in order to protect and secure the use of Virtual Cards. Some forms of limits are given to you, at their discretion, to define for their usage purposes. A few standard limits listed​ includes:

• Number of active Virtual Cards is limited to 1 Virtual Card​​​​ 
• The daily purchase limit per one Virtual Card will be based on your wallet limitation. 

TrueMoney reserves its right to change wallet limitations from time to time to comply with the Company’s policy including local and/or international regulatory requirements. You can set and change the purchase limit within this range anytime in the TrueMoney Wallet app. You can Freeze and Unfreeze the Virtual card anytime at your needs.

6. Your responsibility

6.1 You are responsible for:

1. looking after your Card’s credential information such as the 12 dedits numbers, expired date and CVV numbers secure at all times;
2. any and all activities committed by you resulting in you losing your phone or card credentials, including a result of your own failure, gross negligence, and/or any other activities of any persons who are in possession of your Cards, with or without your permission.

6.2 If you do not keep your Cards secure, you give up any claim you may have for any loss or damage you may suffer because you have not kept them safe. After your Virtual Card details have been entered, we will assume that any instruction related to Virtual Card is genuine. If someone else uses a Virtual Card, we may carry out an instruction as if you authorized it.

6.3 If your Virtual Card details are compromised in any way, somebody else can use the Virtual Card and you may lose the available balance on it. That person may also be able to gain unauthorized access to the Mobile App. We will not be responsible for any losses you suffer. You may also be held liable for any losses incurred by any other party due to someone else’s use of Virtual Card.

6.4 You must check that your transaction and the details of the Merchant are correct prior to you confirming your purchase.

6.5 If you believe a transaction has been made without your permission, inform us AT ONCE OR FREEZE YOUR CARD IMMEDIATELY 

 

7. Virtual Card Cancellation, Suspension and Expiry

Each Virtual Card is valid until the expiry date, once Virtual Card has expired or is canceled you cannot use it for any transactions, but you can create a new Virtual Card. You can delete a Virtual Card at any time on your TrueMoney Wallet App if you do not wish to use it anymore. We reserve the right at our sole discretion to limit you on using the TrueMoney Virtual Card, including limiting or prohibiting specific types of transactions such as merchant types. We may refuse to issue a Virtual Card or cancel your Virtual Card with or without prior notice. You agree to not to conduct inappropriate use or allow others to use an expired, revoked, canceled, suspended, or otherwise invalid TrueMoney Virtual Card. 

8. International Transaction Fee – FOREX

Customers must have a USD balance to link and create a Virtual MasterCard. A KHR account is not allowed to be linked to the Virtual MasterCard. If you initiate a transaction in a currency or country other than the currency or country in which your TrueMoney Virtual Card was issued (USD), the amount deducted from your funds will be converted by Payment Schemes (i.e., Mastercard) into an amount in the USD currency of your TrueMoney Virtual Card. You agree that TrueMoney may deduct your funds based on the converted amount of your transaction.

9. Receipts

You should get or will receive an electronic transaction receipt at the time you performed a transaction. You agree to retain your invoice to verify your transactions. In addition, you may verify your transactions in the Virtual card history and Wallet transaction history against your purchase invoice. You agree to examine and notify us of any errors, irregularities, discrepancies, claims or unauthorized debits or items whether made, processed or paid as a result of forgery, fraud, lack of authority, negligence or otherwise by any person whatsoever.

You further agree that if you fail to advise us in writing to notify us of any errors, discrepancies, irregularities claims or unauthorized debits or items in the statement within twenty-one (21) days from the date of the statement and notification is released, the records shall be conclusive evidence of the transaction entries and balances in your Wallet and you shall be deemed conclusively to have accepted all matters.

 

10. Obtaining Balance and Transaction Information for Your Virtual Card

You should keep track of the amount of funds available in your Wallet. If the balance remains insufficient, we reserve the right to close the TrueMoney Virtual Card, with prior notice. You may obtain information about the amount of funds you have remained in your Wallet by logging into the TrueMoney App.

 

11. Confidentiality

We may disclose information to third parties about your Virtual Card or the transactions you performed using your TrueMoney Virtual Card: 

• where it is necessary for completing transactions; 
• in order to verify the existence and condition of your Virtual Card for a third party, such as a merchant; 
• in order to comply with government agency, court order or other legal reporting requirements; 
• if you give us your permission; 
• to our employees, auditors, affiliates, service providers or attorneys as needed.

 

12. Our Responsibility for Failure to Complete Transactions

In no event will we be liable for consequential damages (including lost profits), extraordinary damages, special or punitive damages. We will not be liable, for instance: 

• if, through no fault of ours, you do not have enough funds available in your Wallet to complete the transaction; 
• if a merchant refuses to accept your Card or provide cash back; 
• if an electronic terminal where you are making a transaction does not operate properly, and you knew about the problem when you initiated the transaction; 
• if access to your Card has been blocked after you reported your Virtual Card or Access Code lost or stolen; 
• if there is a hold or your funds are subject to legal process or other encumbrance restricting your use; 
• if we have reason to believe the requested transaction is unauthorized; 
• if circumstances beyond our control (such as fire, flood or computer or communication failure) prevent the completion of the transaction, despite reasonable precautions that we have taken; or 
• for any other exception stated in our Agreement with you.

 

13. In Case of Errors or Questions about your Virtual Card and Linked Wallet

You may call our Call Center at (+855) 23 999639 as soon as you can, if you think an error has occurred in your Wallet linked to Virtual Card.

 

14. Lost or Stolen Cards /Unauthorized Transfers

If you lost your phone and/or your phone was stolen and you believe that your Virtual Card details have been compromised, you may log in to another phone to freeze your Virtual Card immediately and/or you must call our call center immediately via telephone number (855) 23 999639 to help you freeze your virtual card.

 

15. Dispute and Chargeback​​ Handling

Dispute arises when a cardholder says that he or she did not authorize a particular transaction. 

In case of any fraud transactions happened on the cardholder, TrueMoney will support Cardholder to initiate a chargeback request to the acquirer through the respective payment system, via Paymentology and/or Mastercard. The chargeback process to Mastercard via Paymentology will incur additional costs/fees which will be borne by Cardholder. You agree to abide by the Mastercard chargeback rules and agree to pay additional cost upfront before TrueMoney can process the chargeback application on your behalf. According to the Mastercard chargeback rule, you will not be eligible to process a chargeback when your transaction exceeds 60 days. Over a period of 60 days, you agree to accept loss and forfeit your chargeback right.

TrueMoney may act based on your instruction to file chargeback on your behalf but will not be held responsible when the result of such chargeback application is not successful. Any associated chargeback costs paid upfront will be borne by the Cardholder.

 

16. Goods Return and Refunds

 

If you are entitled to a refund on goods or services obtained via your Virtual Card, you agree to credit the refund to an account linked to the Virtual Card. You are not entitled to such a refund if your account has been closed.

 

17. Amendment and Cancellation

We may amend or change the terms and conditions of this Agreement at any time. You will be notified by push notification of any change in the manner provided by applicable law before the effective date of the change. However, if the change is made for security purposes, we can implement such change without prior notice. We may cancel or suspend your Card or this Agreement at any time.

 

18. No Warranty Regarding Goods and Services

We are not responsible for the quality, safety, legality or any other aspect of any goods or services you purchase with your TrueMoney Virtual Card. It is your responsibility to check and work with the merchants to ensure that you get your goods and service as agreed in the purchased terms. 

 

19. Anti-Money Laundering and Sanctions

 

19.1 You agree that TrueMoney may delay, block or refuse to process any transactions, cancel any access to TrueMoney Virtual Card and/or terminate TrueMoney Virtual Card Facility immediately and without prior notice to you without incurring any liabilities if TrueMoney suspects that:

(a). A transaction may be breached any laws or regulations in Cambodia or any other country;

(b). A transaction may be involved any person (natural, corporate or governmental) that is itself sanctioned or is connected, directly or indirectly, to any person that is sanctioned under economic and trade sanctions imposed by the United States, the European Union or any country; or a transaction may directly or indirectly involve the proceeds of, or be applied for the purposes of, unlawful conduct.

 

19.2 You must provide all information to TrueMoney which TrueMoney reasonably requires in order to manage anti-money laundering or counter-terrorism financing and economic and trade sanctions risk or to comply with any laws in Cambodia or any other country. You agree that TrueMoney may disclose any information related to you to:

(a). Any law enforcement, regulatory agency or court where required by any such law or regulation in Cambodia or elsewhere; and

(b). Any correspondent TrueMoney uses to make the payment for the purpose of compliance with any such law or regulation

19.3 You declare and undertake to TrueMoney that the processing of any transaction by TrueMoney in accordance with your instructions will not breach any laws or regulations in Cambodia or any other country.

 

20. Miscellaneous

 

20.1 Internet Frauds:

The Internet is susceptible to a number of frauds, misuses, hacking and other actions, which could affect making/use of Virtual Cards. Whilst we shall aim to provide security to prevent the same, there cannot be any guarantee against such Internet frauds, hacking and other actions, which could affect the making and use of the Virtual Cards. You shall evaluate all risks before you performed payment with merchants on any internet sites.

 

20.2. Technology Risks:

The technology for the Virtual Cards offered by us could be affected by virus or other malicious, destructive or​ other corrupting code/ program. And, it may also be possible that our site may require maintenance and during such time, it may not be possible to process the request of the customers. This could result in delays in the processing of instructions or failure in the processing of instructions and other such failures and inability. You understand and acknowledge these potential issues and shall report to TrueMoney immediately via our hotline number 023999639 in order to fix your problem or receive  the right updates.

 

20.3. Limits:

You are aware that we may from time to time impose maximum and minimum limits on the Virtual Cards. You agree that the same is to reduce the risks on you. For instance, we may impose transaction restrictions within particular periods or amount restrictions within a particular period or even limits on each transaction or the limits of cards created per day. You shall be bound by such limits imposed and shall strictly comply with them.

 

20.4. Indemnity:

You shall indemnify us for and against all losses and damages that may be caused as a consequence of you not complying with any provisions in the Virtual Card’s Terms and Conditions.

 

21. Governing Law

 

This Agreement shall be construed and governed in accordance with the laws of the Kingdom of Cambodia.

 

22. Language

 

These Terms and Conditions have been prepared in English. In the event of any inconsistency between the original English version and any translations, the English version shall govern.

 

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What is a TrueMoney Virtual card? 

 

TrueMoney virtual cards work exactly like your physical card and they just live in your TrueMoney Wallet. Secured by encryption, they offer a safe and convenient way to pay online and in-store.

 

• You can use your TrueMoney Wallet to apply for a virtual card. Before applying for the virtual card, you must agree with the TrueMoney Virtual Card terms and conditions, and acknowledge the fees and charges that may occur with the usage. The card is linked to your TrueMoney Wallet balance, so when you play with it, the amount will be automatically deducted. The card may be issued under an available payment scheme or a TrueMoney partner.
• With your virtual card issued by TrueMoney, you can make payments or purchases at any online merchant that displays the Mastercard, like Food Amazon, eBay, AliExpress, etc. You have control over your card whether to enable or freeze the card (Can’t be used temporarily). You can also set your daily limit and max amount of usage within the Application. You can request to change your card number if you think that your card information has been compromised.
• You shall verify the information on your online purchase before confirming to authorize the payment. In case of an error or mistake made by you, you will be liable for any loss that may occur.
• To help you recover the potential loss, you may call our care center immediately to raise your case so that TrueMoney can assist you in recovering your losses if possible.

 

TrueMoney virtual card can do almost everything you could expect from a normal payment card, with one exception: it doesn’t exist in any physical form.

There are many reasons why virtual payment cards are incredibly useful. From convenience to improved security when purchasing online, they’re really quite handy things.

The only thing you can’t do with it is to withdraw cash. This is because it does not have a magstripe or chip for Chip & Pin – on Wallet of not being physical. Apart from that, however, a virtual card has a 16-digit number, an expiry, and a CVV like any normal card

What is important to know, though, is that, whilst your virtual card will be linked to your USD Wallet. You can also Freeze your virtual card this means that you can spend online without worrying about security.

 

You can use your TrueMoney card to make purchases online and in-app, and you can pay in-store with mobile payment services like Coda, Foodpanda, Grab, and Payway, basically wherever the Mastercard logo is visible online.

 

Why should I use a Virtual Card?

 

One of the main benefits of a virtual card is that it can be hugely helpful in keeping your Wallet secure online.

You’ll have noticed that you got benefits from TrueMoney Virtual Card:

• Create a Card instantly without lining up at Bank
• Securely Pay online with Mastercard 3D Secure on all e-commerce website
• Low cost & and no hidden fees! 
• Track and Spend anywhere, anytime
• Manage your card easily from your app

However, that’s not the only reason why you should use one. Rather, there are a number of advantages that virtual cards offer. Let’s take a look.

🔐 Stay Secure

Virtual cards help to protect against this by being easily freezable. This means that the card details that you leave with the vendor cannot be used to access your Wallet after the single time you gave permission.

🧧 Budget Better

With TrueMoney, you can order 1 virtual card at a time. Set a limit on what you can spend. The money comes out of the same place as your wallet.

💡 Keep Your Card Handy

Physical cards are possible. We’ve all done it. Virtual cards, though, make that a bit more difficult, as you’ll always have it stored on your phone in your Wallet! 

This doesn’t stop you from losing your phone – obviously. But your virtual card will be there in your TrueMoney wallet as soon as you log in from elsewhere.

 

 

How To Use TrueMoney Virtual Card?

The TrueMoney virtual card is incredibly easy to use. That’s because it works in exactly the same way as a regular Mastercard.

 

You’ll see your virtual card in the app – as soon as you have one. With any online payment, enter the 16-digit card number as normal, along with the expiry and CVV number.

 

How Do I Get a Virtual Card?

 

To get a TrueMoney virtual card, head to the app and open up the “Virtual Card” menu on the home screen of your Wallet.

 

You’ll see your normal card thereafter activation. Swipe through to the “Activate my Card” screen, and follow instructions. 

Now you can find your card in the “Virtual” card section of the app – and it can be used as normal. Easy.

How Do I freeze my Virtual Card?

 

To stay secure when you are not using it intensely, you can “Freeze” your card. This instantly blocks new purchases and recurring transactions, payments, balance transfers and credits.

Unfreeze it any time you need it to pay making sure you have a sufficient USD balance otherwise the payment will be declined.