Effective date: 13 September 2026 (draft)
Issuer
Your Magic Pay card is issued by a licensed third-party issuing partner under that partner’s card program; Magic Pay is the technology and service layer on top of it.
Prepaid, not credit
The card is prepaid: it can only spend the balance you have funded by converting supported crypto assets. It is not a credit product and does not draw on any credit line.
Virtual and physical
Virtual cards are issued within minutes of verification; physical cards, where offered, are delivered separately and take longer to arrive.
Conversion
Funds you convert to your card balance are spendable through the card. On closing a card or account, any remaining balance is returned in USDT to a wallet address you specify, subject to the Fee Schedule and the Refund & Dispute Policy. Current conversion and withdrawal terms are shown in the app.
Card data
Your card number, expiry date and CVV are tokenized by our issuing partner; Magic Pay does not store raw card credentials.
Lost or stolen
Freeze a lost or stolen card immediately in the app. A virtual card is reissued free of charge; a physical card is reissued for a fee under the Fee Schedule.
Disputes
Chargeback and dispute handling for card transactions follows the rules of the card scheme and the issuing partner; contact support in the app to start a dispute.
Independent compliance
The issuing partner may decline transactions or freeze the card where required by its own compliance program, independently of Magic Pay.
Precedence
This summary does not override the full Cardholder Agreement you accept during card issuance; where they conflict, the full agreement applies.