Last updated July 2025

These Terms of Use apply to: United States, Canada, The United Kingdom, France, Spain, Portugal, Poland, Switzerland, Germany, Ireland, Luxembourg, Liechtenstein, Lithuania, Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Italy, Latvia, Malta, Netherlands, Romania, Slovakia, Slovenia, Sweden, Kazakhstan, Mexico, Guatemala, Panama, El Salvador, Chile, Colombia, Brazil, Argentina, Philippines, Nigeria, United Arab Emirates, and Singapore (“Authorized Countries”)

Introduction

Thank you for choosing to use your Mastercard Crypto Credential. Mastercard International Incorporated ("Mastercard" or "We") provides you with Mastercard Crypto Credential for your personal use. These Terms of Use (“ToU”) and the Mastercard Privacy Notice (“Privacy Notice”) and, together with these TOU, these “Terms”, are a legal agreement between you and Mastercard. BY CREATING AND USING MASTERCARD CRYPTO CREDENTIAL, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS IN THIS ToU, AND ALL OTHER RULES, POLICIES AND PROCEDURES RELATING TO YOUR MASTERCARD CRYPTO CREDENTIAL PROFILE THAT MASTERCARD/DASP MAY PROVIDE YOU FROM TIME TO TIME (AS DESCRIBED IN THESE TERMS). ADDITIONALLY, YOU CAN LEARN MORE ABOUT MASTERCARD CRYPTO CREDENTIAL BY ACCESSING THE RELEVANT FREQUENTLY ASKED QUESTIONS FROM YOUR PROVIDER

ARBITRATION NOTICE: THESE TERMS INCLUDE AN AGREEMENT TO ARBITRATE DISPUTES THAT WILL HAVE A SUBSTANTIAL EFFECT ON YOUR AND OUR RIGHTS, INCLUDING THE ABILITY TO BRING A CLASS ACTION OR HAVE A MATTER DECIDED BY A JURY OR JUDGE. PLEASE REVIEW THE ARBITRATION AGREEMENT, AS WELL AS THE OTHER TERMS OF THESE TERMS, CAREFULLY BEFORE AGREEING. YOU HAVE THE RIGHT TO REJECT THE ARBITRATION AGREEMENT WITHIN 60 DAYS AS PROVIDED BELOW.

PLEASE NOTE THAT THESE TERMS DO NOT MODIFY OR HAVE ANY IMPACT ON THE TERMS AND CONDITIONS YOU HAVE ENTERED INTO WITH YOUR VIRTUAL ASSET SERVICE PROVIDER, DIGITAL WALLET, CREDENTIAL ISSUER OR ANY OTHER ENTITY THAT IS INTERMEDIATING THE PROVISION OF MASTERCARD CRYPTO CREDENTIAL TO YOU (collectively the “Digital Asset Service Provider” or “DASP”).

“You” (and all of its derivations) means you individually and any person acting as your agent, under your authority, or with your permission. By accepting these Terms or otherwise accessing or using our services, you confirm that you agree to these Terms. IF YOU DO NOT AGREE TO THESE TERMS, YOU MUST NOT REGISTER FOR OR USE MASTERCARD CRYPTO CREDENTIAL. YOUR MASTERCARD CRYPTO CREDENTIAL USERNAME (YOUR “USERNAME”) IS INTENDED FOR USE IN THE AUTHORIZED COUNTRIES ONLY.

Mastercard Crypto Credential and Username

Mastercard Crypto Credential is designed to help facilitate safe and convenient blockchain transactions. It provides you with a Username that you can share with other Mastercard Crypto Credential users to receive funds, instead of using your blockchain addresses. Additionally, Mastercard Crypto Credential helps enable you to send funds to other Mastercard Crypto Credential users by using their Usernames through the DASP interface. Mastercard Crypto Credential functions only when two DASP are involved in the transaction.

Mastercard Crypto Credential does not handle funds or approve transactions. Those activities are the sole responsibility of the DASP with whom you have independently enrolled with.

Privacy

Mastercard recognizes the importance of respecting your privacy. The Mastercard Global Privacy Notice incorporated here by reference, explains how Mastercard collects, uses, shares, and protects your personal information in connection with Mastercard Crypto Credential, as well as the choices and access rights you have in regard to your personal information. To facilitate the use of Mastercard Crypto Credential and support virtual asset transactions, both Mastercard and the DASP you have a relationship with process certain personal information in accordance with their respective privacy notices. For more information, refer to the applicable privacy notices.

Protecting Your Information

You are responsible for maintaining adequate security and control of all devices that you use to access Mastercard Crypto Credential through the use of passwords, PINs, biometrics or other appropriate authentication methods.

You are responsible for all activities that occur through or by usage of Mastercard Crypto Credential, including the activities of others (whether or not the activities are authorized). You must immediately notify your virtual asset service provider, digital wallet, credential issuer or any other entity that is intermediating the provision of Mastercard Crypto Credential to you in case of unauthorized access to or use of your Username. Neither Mastercard nor its agents will be liable for any loss or damages of any kind that may arise as a result of unauthorized access to or use of your Mastercard Crypto Credential or any Payment Information (with or without your knowledge), except to the extent the foregoing limitation is prohibited under applicable law. For the purposes of these ToU, Payment Information means any information related to your payments, transactions, blockchain account, or any other payment related data.

Transactions

Your Username makes transactions with other users seamless. It provides you with an easy-to-use credential that reduces the complexity of transferring virtual assets. This means you can use a simple Username instead of long and complex blockchain addresses to send and receive virtual assets.

Each transaction that you make using Mastercard Crypto Credential involves a DASP, who is the entity you have a legal relationship with and who is approving the transaction, performing it and moving any funds involved with the transaction, while Mastercard Crypto Credential facilitates your user experience by replacing the blockchain address by a Username. For the performance of transactions, you will need to comply with all of the DAPS’s terms and conditions, and such terms and conditions will govern all aspects of that transaction and the DASP’s use of your payment information. Mastercard is neither involved in processing your transaction nor with the movement of funds and thus has no liability to you or to the DASP with respect to any aspect from the transaction or any matter involving it.

Responsibility for Transactions

You and the DASP are solely responsible for ensuring your use of Mastercard Crypto Credential complies with the terms and conditions that govern your virtual assets transactions. You are also responsible for all charges or debits that result from transactions made using your Username. You and/or the DASP are solely responsible for reporting and paying any and all applicable taxes arising from transactions originated using your Username and you will comply with any and all applicable tax laws in connection with these transactions.

Mastercard is not a virtual asset service provider, credential issuer, bank, payment institution, or a money services business as defined by the applicable regulatory body in the Authorized Country having authority to define such entities, and Mastercard does not offer those services. Mastercard helps enhance the user experience with Mastercard Crypto Credential but does not approve or block transactions. Transaction related decisions are made solely by the DASP based on their own governance and applicable rules.

ANY AND ALL QUESTIONS OR ISSUES REGARDING TRANSACTIONS WHETHER OR NOT IT USES MASTERCARD CRYPTO CREDENTIAL SHOULD BE DIRECTED TO THE DASP WHO PROVIDES YOU WITH MASTERCARD CRYPTO CREDENTIAL.

MASTERCARD MAKES NO REPRESENTATIONS THAT USING MASTERCARD CRYPTO CREDENTIAL WILL MAKE THE DASP TO APPROVE OR HONOR YOUR REQUESTED TRANSACTIONS.

Resolution of Transaction Issues

If you have any concerns with respect to any transaction made using your Username, you must contact the DASP with which you entered into such transaction. You may also have certain rights and protections under your agreement with the DASP where the transaction was performed, please, consult your agreement with the DASP and also the channels for communication with the DASP.

Grant of License from Mastercard

Mastercard License. So long as you comply with these Terms and the DASP remains compliant with its obligations related to the provision of Mastercard Crypto Credential, Mastercard grants you a limited, non-exclusive, as-is, revocable, non-transferable license, without right of sublicense, to use your Username solely for the purpose of performing transactions with users who are also registered with Mastercard Crypto Credential.

Prohibited Conduct. You must not use your Username for any other purpose and must not:

1. decompile, reverse engineer, or otherwise access or attempt to access the source code relating to Mastercard’s services and systems used in connection with your Username, or make or attempt to make any modification to the same (except to the extent the foregoing prohibition is not permitted under applicable law);
2. gain access to or use Mastercard’s services or systems, including those used in connection with your Username, other than as permitted under these Terms, or damage, disrupt, or impede the operation of Mastercard’s services or systems;
3. use Mastercard Crypto Credential in connection with any fraudulent or illegal conduct, transaction, or business, as determined by the DASP, Mastercard or by the applicable law;
4. register for Mastercard Crypto Credential by automated means or under false or fraudulent pretences;
5. interfere with, circumvent, or modify any security mechanism used by or on behalf of Mastercard;
6. use or launch any automated system, including “robots,” “spiders,” or “offline readers,” to access Mastercard’s services and systems used in connection with Mastercard Crypto Credential;
7. act as a payment intermediary, aggregator, or service bureau yourself or on behalf of any third party, including handling, processing, or transmitting funds for any third party;
8. rent, lease, loan, trade, sell, re-sell, or otherwise charge any party for access to Mastercard’s services and systems used in connection with Mastercard Crypto Credential;
9. transmit any viruses, worms, defects, trojan horses, or any programming of a destructive nature; or
10. attempt to do any of the foregoing acts, or assist or permit any person in engaging in any of the foregoing acts.

Compliance with Law. You must comply with all applicable international, national, provincial, and local laws, rules, regulations, directives, and governmental requirements relating to your transactions and to the use of Mastercard Crypto Credential. Mastercard may, in its sole discretion, accept or reject your request to register a Mastercard Crypto Credential and may disable or otherwise suspend access to your Username at any time for any reason or no reason whatsoever, including if Mastercard suspects of fraud or illegal, unauthorized or improper conduct or if the DASP is suspended, non-compliant or because of a termination in the agreement between Mastercard and the DASP.

Grant of License from You

Mastercard does not claim ownership of the content that you provide, upload, submit or send to Mastercard. When you provide content to Mastercard, you grant Mastercard (and parties that we work with) a non-exclusive, irrevocable, royalty-free, transferable, and worldwide license to store, reproduce, modify, create derivative works and otherwise use your content and associated intellectual property and publicity rights to help us improve, operate and promote our current services and systems, and to develop new ones. Mastercard will not compensate you for any of your content. You acknowledge that Mastercard’s use of your content will not infringe any intellectual property or publicity rights. Further, you acknowledge and warrant that you own or otherwise control all of the rights of the content you provide, and you agree to waive your moral rights and promise not to assert such rights against Mastercard.

Modifications to Our Service and to These Terms

Mastercard may, in its sole discretion, modify, update, discontinue, suspend, or otherwise change, temporarily or permanently, any or all aspects of Mastercard Crypto Credential with or without notice to you. You agree that Mastercard shall not be liable to you or any third party for taking these actions, and your continued use of Mastercard Crypto Credential following any such change(s) will be construed to be your acceptance of such change(s).

Mastercard reserves the right, in its sole discretion at any time and from time-to-time, to change these Terms or provide other disclosures or notices regarding Mastercard Crypto Credential (including Mastercard’s services and systems used in connection with Mastercard Crypto Credential) always through the DASP. If you do not agree with any aspect of these Terms at any time you must not use Mastercard Crypto Credential.

If you are an existing Mastercard Crypto Credential user, non-material changes we make to these Terms will become effective immediately upon publication of the updated Terms. To the fullest extent permitted under applicable law, your continued use of Mastercard Crypto Credential after we publish any such changes will constitute your acceptance of the updated Terms. If we make a change to these Terms that materially modifies your rights or obligations, you will be notified through the DASP about such change and to the fullest extent permitted under applicable law, your continued use of Mastercard Crypto Credential after such notification is shown to you will constitute your acceptance of the updated Terms. Note that any changes made to these Terms for legal reasons will become effective immediately upon publication. You should review these Terms regularly. You may access the current copy of the Terms at any time and can determine when the Terms were last modified by checking the date at the top of these Terms.

Feedback

From time to time, Mastercard may ask you for (or you may independently provide Mastercard with) your feedback, suggestions, comments, or ideas (collectively “Feedback”) on Mastercard’s services and systems used in connection with Mastercard Crypto Credential or other Mastercard products or services, but you are not required to provide us with any Feedback. You agree that Mastercard may use and exploit all Feedback you provide for any purpose without obligation of any kind and without any obligation of confidentiality, attribution, accounting, compensation, or other duty to account to you.

Intellectual Property Ownership and Rights

As between you and Mastercard, Mastercard owns and retains all right, title, and interests, including all intellectual property rights, in and to (a) Mastercard’s systems and services; and (b) your Username (but not the content you provide to Mastercard, if applicable) (collectively, “Mastercard Property”). Mastercard, its licensors, or third-party partners own and retain all right, title, and interest in all names, trade names, trademarks, service marks, slogans, logos, domain names, or other indicia of Mastercard or its licensors or third-party partners used in connection with Mastercard’s systems and services (“Trademarks”). You have no right to use any Trademark in any manner without the advance written permission of the owner of that Trademark.

Use of Mastercard Crypto Credential or other Mastercard systems and services does not give you ownership of any and all intellectual property rights in the Mastercard Property. Mastercard reserves all rights in the Mastercard Property and Trademarks not expressly granted to you in these Terms.

Your Representations

You represent and covenant that (a) any and all of the information you provide to Mastercard in connection with your registration for Mastercard Crypto Credential is true and correct and you will keep it accurate and up-to-date at all times; (b) you will comply with the Terms contained herein this ToU and the DASP`s terms and (c) any and all applicable local, national, provincial, and international laws, rules, and regulations in connection with your use of Mastercard Crypto Credential.

You represent and warrant that you are: (i) at least eighteen (18) years of age (or the minimum age in your jurisdiction for entering into a binding contract), (ii) capable of entering into a legally binding agreement, and (iii) a legal resident of one of the Authorized Countries where Mastercard Crypto Credential is implemented.

Indemnification

To the fullest extent permitted by law, you agree to indemnify and hold harmless Mastercard and its business partners, and its and their officers, directors, employees, representatives and affiliates (the “Indemnified Parties”), from and against any and all claims, liabilities, damages (actual and consequential), losses, fines, and expenses (including legal and other professional fees and costs of investigation) arising from or in any way related to (a) your use of Mastercard’s services and systems, including Mastercard Crypto Credential in a manner not authorized by these Terms; (b) your (or anyone using your Username) breach of these Terms or applicable law; (c) your negligence or wilful misconduct; (d) any dispute between you and a third party, including any merchant or financial institutions; or (e) your violation of any third party’s rights, including any intellectual property rights.

Disclaimer of Warranties

General Disclaimer. MASTERCARD’S SERVICES AND SYSTEMS, INCLUDING MASTERCARD CRYPTO CREDENTIAL, ARE PROVIDED “AS IS,” “AS AVAILABLE,” AND WITH ALL FAULTS. THE INDEMNIFIED PARTIES DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY, QUALITY OF INFORMATION, QUIET ENJOYMENT, NON-INFRINGEMENT, TITLE, OR FITNESS FOR A PARTICULAR PURPOSE. MASTERCARD DOES NOT WARRANT THAT THE INFORMATION CONTAINED IN MASTERCARD’S SERVICES AND SYSTEMS OR IN ANY THIRD-PARTY CONTENT, WILL BE ACCURATE OR COMPLETE, OR THAT MASTERCARD’S SERVICES AND SYSTEMS OR ANY THIRD-PARTY CONTENT WILL BE ERROR FREE, CONTINUOUS OR UNINTERRUPTED, FREE FROM SPYWARE, MALWARE, ADWARE, VIRUSES, WORMS, OR OTHER MALICIOUS CODE, OR WILL FUNCTION TO MEET YOUR REQUIREMENTS. MASTERCARD DOES NOT WARRANT THAT MASTERCARD’S SERVICES AND SYSTEMS WILL WORK WITH YOUR OPERATING SYSTEMS, OR WITH ANY OTHER SOFTWARE INSTALLED ON YOUR COMPUTERS OR MOBILE DEVICES. INFORMATION OBTAINED BY YOU FROM MASTERCARD WILL NOT CREATE ANY WARRANTIES. YOU ASSUME ALL RISKS ASSOCIATED WITH YOUR USE OF MASTERCARD’S SERVICES AND SYSTEMS, INCLUDING MASTERCARD CRYPTO CREDENTIAL. IT IS YOUR SOLE RESPONSIBILITY TO DETERMINE WHETHER MASTERCARD SERVICES AND SYSTEMS ARE SUITABLE AND ADEQUATE FOR YOUR NEEDS.

Disclaimer Regarding Transactions. YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT MASTERCARD DOES NOT HAVE ANY CONTROL OVER YOUR TRANSACTIONS USING YOUR PAYMENT INFORMATION, AND MASTERCARD CANNOT ENSURE THAT ALL TRANSACTIONS WILL BE COMPLETED AS THAT DEPENDS ON SEVERAL FACTORS, INCLUDING EXTERNAL FACTORS INVOLVING THE DASP YOU HAVE RELATIONSHIP WITH.

Disclaimer Regarding Mastercard Crypto Credential. YOU ACKNOWLEDGE AND AGREE THAT MASTERCARD CRYPTO CREDENTIAL IS AVAILABLE ONLY IN CERTAIN MARKETS AND YOU MAY NOT BE ABLE TO CREATE YOUR USERNAME, ACCESS IT, OR COMPLETE A TRANSACTION USING MASTERCARD CRYPTO CREDENTIAL, DEPENDING ON, AMONG OTHER THINGS, THE LOCATION OF THE DASP.

Third Party Systems. IN CASE MASTERCARD CRYPTO CREDENTIAL INTERACTS WITH THIRD-PARTY SYSTEMS THAT ARE INDEPENDENT OF MASTERCARD AND NOT OWNED OR CONTROLLED BY MASTERCARD, YOU ACKNOWLEDGE AND AGREE THAT MASTERCARD SHALL NOT BE LIABLE FOR ANY LOSS, DAMAGE OR OTHER HARM RESULTING DIRECTLY OR INDIRECTLY FROM ANY SECURITY BREACH OR OTHER ISSUE RELATING TO A THIRD-PARTY SYSTEM.

Applicable Laws. IN THOSE JURISDICTIONS WHERE A PART OF THE FOREGOING DISCLAIMERS MAY BE LIMITED OR INAPPLICABLE UNDER APPLICABLE LAW, THE FOREGOING DISCLAIMERS APPLY TO THE MAXIMUM EXTENT PERMITTED UNDER LAW.

Limitation of Liability

Limitation. REGARDLESS OF WHETHER ANY REMEDY IN THESE TERMS FAILS ITS ESSENTIAL PURPOSE OR OTHERWISE, THE INDEMNIFIED PARTIES ARE NOT AND WILL NOT BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, EXEMPLARY, CONSEQUENTIAL, OR ANY OTHER DAMAGES WHATSOEVER, INCLUDING ANY PERSONAL INJURY, PROPERTY DAMAGE, LOSS OF USE, LOSS OF BUSINESS, ECONOMIC LOSS, LOSS OF DATA, OR LOSS OF PROFITS, WITHOUT REGARD TO THE FORM OF ACTION (INCLUDING CONTRACT, NEGLIGENCE, OR OTHER TORTIOUS ACTIONS) ARISING OUT OF OR IN CONNECTION WITH (A) THESE TERMS; (B) MASTERCARD SERVICES AND SYSTEMS (INCLUDING MASTERCARD CRYPTO CREDENTIAL); (C) ANY INTERRUPTION IN SERVICE RELATED TO SERVICES AND SYSTEMS; (D) ANY THIRD PARTY CONTENT OR FAIL TO PROVIDE THEIR SERVICES; (E) ANY PRODUCT OR SERVICE OBTAINED THROUGH A TRANSACTION USING YOUR PAYMENT INFORMATION; (F) THE ACTIONS OR INACTIONS OF ANY MASTERCARD CRYPTO CREDENTIAL; (G) YOUR USE OF YOUR MOBILE DEVICE, INCLUDING ANY LACK OF ATTENTION TO YOUR SURROUNDINGS RESULTING FROM SUCH USE; (H) ANY ERROR, MISTAKE OR TRANSACTIONS SENT TO WRONG RECIPIENTS; OR (I) THE UNAUTHORIZED ACCESS BY ANY PARTY TO MASTERCARD’S SERVICES AND SYSTEMS (INCLUDING MASTERCARD CRYPTO CREDENTIAL), INCLUDING PERSONAL DATA, EVEN IF ANY OF THE INDEMNIFIED PARTIES HAS BEEN ADVISED OF THE POSSIBILITY OF THOSE DAMAGES. YOU WAIVE ANY AND ALL CLAIMS, NOW KNOWN OR LATER DISCOVERED, THAT YOU MAY HAVE AGAINST THE INDEMNIFIED PARTIES ARISING OUT OF YOUR USE OF MASTERCARD CRYPTO CREDENTIAL, YOUR MOBILE DEVICE OR THESE TERMS. WITHOUT LIMITING THE FOREGOING, MASTERCARD IS NOT RESPONSIBLE FOR ANY ERRORS IN ANY DESCRIPTIONS OF PRODUCTS OR SERVICES OFFERED BY DASPS OR ANY MOBILE CARRIER FEES OR CARD ACCOUNT FEES OR PENALTIES THAT YOU INCUR AS A RESULT OF YOUR USE OF MASTERCARD SERVICES AND SYSTEMS, INCLUDING ANY FEES AND PENALTIES THAT MAY RESULT FROM TRANSACTION REVERSALS.

Cap on Liability. NOTWITHSTANDING THE FOREGOING, THE INDEMNIFIED PARTIES’ TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE WILL NOT, UNDER ANY CIRCUMSTANCES, EXCEED ONE HUNDRED U.S. DOLLARS (US $100).

Applicable Laws. IN THOSE JURISDICTIONS WHERE A PART OF THE FOREGOING LIMITATIONS MAY BE LIMITED OR INAPPLICABLE UNDER APPLICABLE LAW, THE FOREGOING LIMITATIONS AND EXCLUSIONS APPLY TO THE MAXIMUM EXTENT PERMITTED UNDER LAW.

Termination

Term and Termination. Mastercard may suspend or terminate your use of Mastercard Crypto Credential if the relationship with the DASP is terminated or suspended by you or by Mastercard. Additionally, Mastercard may suspend or terminate your use of Mastercard Crypto Credential if, at any time from time to time, with or without cause, and without notice, including in the event Mastercard believes (a) your contact information is not up-to-date or you do not respond to communications directed to you; (b) the information you have provided to obtain your Username is false, inaccurate, not current, or incomplete; (c) you are engaged in illegal activity; or (d) you have breached any of these Terms. You may terminate these Terms with respect to your Mastercard Crypto Credential or for any reason or no reason at all, at your convenience, by requesting it directly to your DASP.

Effect of Termination. Upon termination of these Terms for any reason, the rights and licenses granted to you with respect to Mastercard will immediately terminate and you will have to immediately cease all use of your Username and related Mastercard services and systems. The terms, conditions, and warranties contained in these Terms that by their nature and context are intended to survive the termination of these Terms will survive, including, without limitation, the following matters: Privacy, Protecting Your Information, Use of Your Payment Information, Resolution of transaction Issues, Grant of License from You, Feedback, Intellectual Property Ownership and Rights, Third-Party Content, Your Representations, Indemnification, Disclaimer of Warranties, Limitation of Liability, Termination, Entire Agreement, Relationship of the Parties, Mastercard Third-Party Beneficiaries, Governing Law, Arbitration Agreement, Waiver; Invalidity, Interpretation, Assignment.

Mastercard will have no liability to you for any damages, loss of profits or other claims arising from the termination or suspension of your Username.

Customer Support

In case you need any help, please reach out to the DASP`s channel as this entity is the one responsible for addressing any inquire, fixing issues and providing clarifications.

Entire Agreement

These Terms constitute the entire agreement between you and Mastercard with regard to their subject matter.

Relationship of the Parties

These Terms do not create and must not be construed as creating a joint venture, co-ownership, partnership, or agency relationship between you and Mastercard.

Mastercard Third Party Beneficiaries

You acknowledge and agree that each affiliate and subsidiary of Mastercard is a third-party beneficiary to these Terms and that Mastercard’s affiliates and subsidiaries are entitled to directly enforce, and rely upon, any provision of these Terms which confers a benefit on (or provides rights in favour of) them. No other person or company is a third-party beneficiary to these Terms.

Governing Law

These Terms are governed by the laws of the State of New York without giving effect to any choice of law or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than the State of New York. To the maximum extent permitted by law, you and Mastercard agree to submit to the personal and exclusive jurisdiction of the state courts and federal courts located within Westchester County, New York for the purpose of litigating any dispute.

Arbitration Agreement

Please read this section carefully, as it affects your rights. You have the right to reject the arbitration of disputes as detailed below.

Agreement to Arbitrate

You and we agree that any Claim, upon the election of either you or us, shall be resolved by legally binding arbitration. This agreement to arbitrate is intended to be broadly interpreted and to make all Claims between you and us subject to arbitration to the fullest extent permitted by law. A “Claim” means any dispute, claim, or controversy (whether based on contract, tort, intentional tort, constitution, statute, ordinance, common law, or equity, whether pre-existing, present, or future, and whether seeking monetary, injunctive, declaratory, or any other relief) arising from or relating to these Terms, our services, or the relationship between you and us, including: claims arising prior to or after the date of the Terms; claims that are currently the subject of purported class action litigation in which you are not a member of a certified class; disputes, claims, or controversies that are brought as counterclaims, cross claims, third party claims or otherwise.

Small Claims Court

Notwithstanding anything in this Arbitration Agreement to the contrary, either party may bring an individual action in small claims court, so long as the action is not removed or appealed to a court of general jurisdiction. If an action that is brought in small claims court is removed or appealed to a court of general jurisdiction or is part of a class or representative action, either party may immediately cause or compel such Claim to be arbitrated pursuant to the terms of this Arbitration Agreement.

Jury Trial and Class Action Waiver

YOU AND WE EACH WAIVE OUR RIGHT TO A TRIAL BY JURY. FURTHER, YOU AND WE AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN AN INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.

Initiating Arbitration

A party who intends to seek arbitration must first send to the other, by certified mail, a written signed notice of dispute (“Notice”). The Notice to Mastercard should be addressed to: Attention: Legal Department, Mastercard International Incorporated, 2000 Purchase Street, Purchase, NY 10577 (“Notice Address”). The Notice to you shall be sent to the address we have on file for you. The Notice must describe the nature and basis of the Claim and set forth the specific relief sought (“Demand”). If you and we do not reach an agreement to resolve the Claim within 30 days after the Notice is received by the other party (during which time the statute of limitations shall be tolled), you or we may commence an arbitration proceeding. In the event a Claim is filed with a court, either you or we may immediately cause or compel such Claim to be arbitrated pursuant to the terms of this Arbitration Agreement.

You are entitled to an arbitration award of at least $7,500 if: (1) you give us Notice of a Claim and a Demand on your own behalf (and not on behalf of any other party) and comply with all of the requirements of this Arbitration Agreement; (2) we refuse to provide you with the Demand you requested before an arbitrator is appointed; and (3) the arbitrator awards you money damages greater than the last amount you requested at least ten days before the arbitration commenced. This $7,500 minimum award is a single award that applies to all Claims you have raised or could have raised in the arbitration. Multiple awards of $7,500 are not contemplated by this clause.

You may obtain more information about arbitration from www.adr.org.

Arbitrator and Arbitration Procedures

The arbitration will be administered by the American Arbitration Association (“AAA”) and will be governed by the Commercial Dispute Resolution Procedures and the Supplementary Procedures for Consumer Related Disputes (collectively, “AAA Rules”). If the AAA is unavailable or refuses to arbitrate the parties’ dispute for any reason, the arbitration shall be administered and conducted by a widely-recognized arbitration organization that is mutually agreeable to the parties, but neither party shall unreasonably withhold or delay their consent. If the parties cannot agree to a mutually agreeable arbitration organization, one shall be appointed pursuant to Section 5 of the Federal Arbitration Act. The AAA Rules are available online at www.adr.org, by calling the AAA at 1 (800) 778-7879, or by writing to the Notice Address.

All issues are for the arbitrator to decide. The arbitrator may award relief, including but not limited to, damages, restitution, declaratory relief, and injunctive relief. Any such relief shall only be in favor of the individual party seeking relief and only to the extent necessary to provide relief warranted by that party’s individual Claim. The arbitrator’s decision shall be legally binding. The arbitrator shall be bound by the terms of these Terms.

Discovery and/or the exchange of non-privileged information relevant to the Claim will be governed by the AAA Rules.

Fees

In the event that you file for arbitration, you may send us a written request at the Notice Address requesting that we pay all AAA filing, administration and arbitrator fees for any arbitration initiated in accordance with the Notice requirements above. We will pay all such costs if the request is reasonable, and the related claim is not in connection with twenty (20) or more demands for arbitration that are filed relating to the same or similar subject matter with the same counsel submitting demands or different counsels that appear to be coordinating claims (a “Mass Arbitration”). If, however, the arbitrator finds that either the substance of your Claim or the relief sought in the Demand is frivolous or brought for an improper purpose (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)), then the payment of any fees by us or you will be governed by the AAA Rules. In such case, you agree to reimburse us for all monies previously disbursed by us that are otherwise your obligation to pay under the AAA Rules.

The arbitrator may make rulings and resolve disputes as to the payment and reimbursement of fees and expenses at any time during the proceeding or in the final award, pursuant to applicable law and the AAA Rules.

Arbitration Location

Unless you and we agree otherwise, any arbitration hearings will take place in the county (or parish) of your home address. If your Claim is for $10,000 or less, we agree that you may choose whether the arbitration will be conducted solely on the basis of documents submitted to the arbitrator, through a telephonic hearing, through an online hearing, or by an in-person hearing as established by the AAA Rules. If your Claim exceeds $10,000, the type of hearing will be determined by the AAA Rules.

Class Arbitration

The arbitrator may not consolidate more than one person’s Claims and may not otherwise preside over any form of a representative or class proceeding. The arbitrator may award injunctive relief only in favor of the individual party seeking relief and only to the extent necessary to provide relief warranted by that party’s individual Claim. If this Class Arbitration Section is found to be unenforceable or invalid, then the entirety of this Arbitration Agreement shall be null and void.

Public Injunctive Relief

If you or we seek public injunctive relief as a remedy for any Claim against one another (a “Public Injunctive Relief Request,”) you and we agree that Public Injunctive Relief Request cannot be arbitrated. Instead, that Public Injunctive Relief Request shall be adjudicated by a court after all other Claims to be decided in arbitration under this Arbitration Agreement are resolved in arbitration. You and we agree to jointly request that the court stay the Public Injunctive Relief request until after the remaining Claims have been finally resolved in arbitration. The enforceability, validity and effect of this Public Injunctive Relief section shall be determined exclusively by a court, and not by the administrator or any arbitrator.

Right to Reject Arbitration

You understand that you may reject the provisions of this Arbitration Agreement, in which case neither you nor we will have the right to elect arbitration and this Arbitration Agreement shall be void. Rejection of this Arbitration Agreement will not affect the remaining parts of this Terms. To reject this Arbitration Agreement, you must send us written notice of your rejection within 60 days after the date after you agreed to these Terms. You must include your name and address. The notice of rejection must be mailed to Attention: Legal Department, Mastercard International Incorporated, 2000 Purchase Street, Purchase, NY 10577. This is the only way that you can reject this Arbitration Agreement.

Changes to Arbitration Agreement

We agree that if we make any change to this Arbitration Agreement (other than a change to the Notice Address) and you did not initially reject this Arbitration Agreement, you may reject any such change pursuant to the process in the Right to Reject Arbitration section. If you so reject, the terms of the Arbitration Agreement that existed prior to your rejection shall remain in effect.

Waiver; Invalidity

Mastercard’s failure or delay to exercise or enforce any right or provision of these Terms or any rights under applicable law will not constitute a waiver of any of those provisions or rights. If any provision of these Terms is found by an arbitrator or a court of competent jurisdiction to be invalid, the parties agree that the arbitrator or court will endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms will remain in full force and effect.

Interpretation

The section headings in these Terms are for convenience only and have no legal or contractual effect. For purposes of these Terms, (a) the words “include,” “includes” and “including” will be deemed to be followed by the words “without limitation”; (b) the words “such as”, “for example” “e.g.” and any derivatives of those words will mean by way of example and the items that follow these words will not be deemed an exhaustive list; (c) the word “or” is used in the inclusive sense of “and/or” and the terms “or,” “any,” and “either” are not exclusive; and (d) the singular includes the plural and the plural includes the singular. No ambiguity will be construed against any party based on a claim that the party drafted the language.

Assignment

You may not assign or transfer your rights or obligations under these Terms. Any purported transfer or assignment in violation of the foregoing will be invalid.

Force Majeure

Mastercard will not be liable for any delay or failure to perform its obligations hereunder resulting from any cause beyond its reasonable control, including without limitation, telecommunications, power or utility failures.