Introduction

Welcome to Squareme’s Virtual Dollar Card Service. By using our Virtual Dollar Card Service, you agree to these Terms and Conditions. Please read them carefully. If you do not agree to these terms, you must not use the Virtual Dollar Card Service.

These Virtual Card Terms of Use govern the issuance and use of the Virtual Card issued by Squareme (“Squareme”, “We”, “Our”) and the card member who accepts the terms and conditions virtual card. Card users are advised to review the terms of use of our virtual card in order to understand their rights and obligations relating to the use of the card. In case of any inconsistency between these Virtual Card Terms & Conditions, the Squareme Terms of Use, or other relevant Agreements, these Virtual Card Terms & Conditions shall prevail to the extent of such inconsistency.

Before using the virtual card service, please read this agreement carefully. You consent to the terms of use with your use of the virtual card service. If you do not consent to the terms detailed in this agreement, you may not use the virtual card service. These Virtual Card Terms of Use must be read in conjunction with the Squareme Terms of Use, Privacy Policy and all other documents relevant to the Virtual Card Terms of Use.

How it operates

The Squareme Virtual Dollar Card operates as a digital prepaid card denominated in US Dollars. It is intended for legitimate online and point-of-sale transactions, offering users flexibility in cross-border payments. However, it is crucial to recognize that the card’s acceptance depends on merchant policies and card network regulations. Squareme does not guarantee universal acceptance, and users should verify compatibility before initiating transactions.

Usage and Limitations

To maintain system integrity, Squareme enforces a strict one-card-per-user policy. Users must fund their card with a minimum of $5 upon creation,which includes a non−refundable $2 issuance fee. Subsequent top-ups require at least $2. This structure ensures operational efficiency while keeping the service accessible. The card is designed for lawful transactions, and Squareme explicitly prohibits its use in:

• Money Transfers (4829)
• Travel-Related Arrangement Services (5962)
• Outbound Telemarketing Merchants (5966)
• Non-Financial Institutions/Cryptocurrency (6051)
• Security Brokers/Dealers (6211)
• Dating and Escort Services (7273)
• Massage Parlors (7297)
• Government-owned Lotteries (7800)
• Government-licensed Online Casinos (Online Gambling) (7801)
• Government-licensed Horse/Dog Racing (7802)
• Betting and Online Gambling (7995)

Violations may result in immediate card suspension or termination, underscoring the importance of responsible usage.

Squareme reserves the right to limit or suspend your access to Virtual Cards—including specific features or the entire service—at any time and without prior notice. Additionally, we may decline transactions or deactivate Virtual Cards when necessary for risk management, compliance, or security purposes. These limitations may be implemented at our discretion and without advance warning.

Fee Structure and Financial Responsibilities

Squareme maintains a transparent fee policy to prevent unexpected charges. Key fees include:

• Card creation: $2 (deducted from initial funding).
• Chargebacks: $45 per dispute (applied when transactions are contested).
• Foreign transactions: Currency conversion fees apply for non-USD payments.
• Insufficient funds: Penalties for declined transactions due to low balances.

Users must monitor their card balance closely, as three consecutive failed transactions (due to insufficient funds) will trigger automatic card termination. Upon termination, the remaining funds—minus applicable fees—are converted to Naira at Squareme’s prevailing exchange rate and credited to the user’s wallet.

Termination, Refunds, and Account Management

The Virtual Dollar Card is a non-withdrawable prepaid instrument, meaning loaded funds cannot be cashed out. However, users may request card deletion, subject to an administrative fee. Upon deletion, the remaining balance is converted to Naira and returned to the user’s Squareme wallet. Squareme reserves the right to modify or terminate the service at any time, with changes taking immediate effect upon notification. Continued use after updates implies user consent to revised terms.

Security

Squareme does not assume responsibility for the security of your device, and it remains your sole obligation to safeguard it against unauthorized access, malicious software, or other cybersecurity threats. In the event that the device used to access the Service is compromised by malware, viruses, or other harmful agents, your Virtual Card and associated account details may be exposed to unauthorized third parties. You are expressly responsible for maintaining the confidentiality of your Squareme username and password. Any activity conducted through your account, whether authorized or unauthorized, shall be deemed your responsibility. This includes, without limitation, transactions initiated by third parties who gain access to your account credentials or device.

While we employ advanced security protocols and fraud detection mechanisms to mitigate risks, no system is infallible. Should an unauthorized individual obtain access to your device or account credentials, they may exploit the Service to generate or utilize Virtual Cards for fraudulent transactions. Any deliberate or negligent sharing of your login credentials or device access heightens this risk substantially.

You hereby agree to promptly notify us of any unauthorized access or fraudulent activity associated with your account. Failure to do so may result in delayed remediation and increased liability for losses incurred. Squareme reserves the right to take appropriate measures, including account suspension or termination, to mitigate fraudulent activity in accordance with applicable laws and regulations.

Privacy and Legal Compliance

Squareme prioritizes user data protection, adhering to strict privacy policies. Personal information is only shared when legally mandated or necessary for service delivery. Users must promptly report any system vulnerabilities or suspicious activities to hi@squareme.app to prevent exploitation. This Virtual Card Terms of Use is to be read in conjunction with our Privacy Policy.

Dispute Resolution and Governing Law

These Terms and Conditions, along with your use of our site and other affiliated sites, are governed by and interpreted in accordance with the laws of the Federal Republic of Nigeria, applicable to agreements executed and fully performed within its jurisdiction, without reference to its conflict of law principles.

In the event of any dispute, controversy, or claim arising out of or relating to these Terms of Use, including its interpretation, validity, performance, termination, or the services offered by Squareme and affiliated, the parties shall first attempt to resolve the dispute through good-faith negotiations. If the dispute is not resolved within 30 (thirty) days of written notice by either party, the dispute shall be referred to mediation at the Lagos Multi-Door Courthouse (LMDC) or any other recognized mediation center in Nigeria. The mediation shall be conducted in English and in accordance with the rules of the chosen mediation body. Each party shall bear its own costs for the mediation, while the costs of the mediator shall be shared equally.

No party shall commence legal proceedings in court concerning any dispute until all remedies provided under this clause (negotiation, mediation, and arbitration) have been exhausted, except where urgent injunctive or equitable relief is required.

Changes to Terms

We reserve the right to amend, supplement, modify or rescind any and all provisions of this Agreement(each, a “change”) at any time. You agree that such changes will be binding on you and take effect immediately or at the time specified by us. We may, but are not required to, provide notices by other means. This Agreement may be changed only as provided in this paragraph, and may not be modified by you.

DISCLAIMERS

THE VIRTUAL CARD SERVICE AND ANY THIRD PARTY RESOURCES ARE PROVIDED TO YOU “AS IS” WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED OR STATUTORY. SQUAREME DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE VIRTUAL CARD SERVICE AND ANY THIRD PARTY RESOURCES, INCLUDING ANY REPRESENTATIONS OR WARRANTIES OF SATISFACTORY QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT AND TITLE. YOU AGREE THAT YOU MUST EVALUATE, AND THAT YOU BEAR ALL RISKS ASSOCIATED WITH, THE VIRTUAL CARD SERVICE OR THIRD PARTY RESOURCES, INCLUDING ANY RELIANCE ON THE ACCURACY, COMPLETENESS OR USEFULNESS OF ANY OF THE FOREGOING.

SQUAREME SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES OF ANY KIND IN CONNECTION WITH THE VIRTUAL CARD SERVICE OR THIRD PARTY RESOURCES, UNDER ANY THEORY, INCLUDING DAMAGES FOR LOSS OF PROFITS, LOSS OR INTERRUPTION OF BUSINESS, LOSS OF USE, LOSS OF DATA, LOSS OF OTHER INTANGIBLES, LOSS OF SECURITY OF INFORMATION YOU HAVE PROVIDED IN CONNECTION WITH YOUR USE OF THE VIRTUAL CARD SERVICE OR THIRD PARTY RESOURCE, OR ANY UNAUTHORIZED INTERCEPTION OF ANY SUCH INFORMATION BY THIRD PARTIES, EVEN IF ADVISED IN ADVANCE OF SUCH DAMAGES OR LOSSES. WITHOUT LIMITING THE FOREGOING, SQUAREME WILL NOT BE LIABLE FOR DAMAGES OF ANY KIND RESULTING FROM YOUR USE OF OR INABILITY TO USE THE VIRTUAL CARD SERVICE OR THIRD PARTY RESOURCE. YOUR SOLE AND EXCLUSIVE REMEDY FOR DISSATISFACTION WITH THE VIRTUAL CARD SERVICE IS TO STOP USING THE VIRTUAL CARD SERVICE AND DELETE ALL VIRTUAL CARDS. THE MAXIMUM COLLECTIVE LIABILITY OF SQUAREME ENTITIES FOR ALL DAMAGES, LOSSES AND CAUSES OF ACTION, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, SHALL BE EQUAL TO THE TOTAL AMOUNT, IF ANY, ACTUALLY PAID BY YOU TO SQUAREME IN EXCHANGE SOLELY FOR THE RIGHT TO ACCESS AND USE THE VIRTUAL CARD SERVICE.

Indemnification

You agree that you are personally responsible for your conduct while using the Service. You agree to indemnify, defend, and hold harmless Squareme and our respective owners, affiliates, directors, officers, employees and agents from claims, losses, expenses, liability, damages and costs (including, but not limited to, direct, incidental, consequential, exemplary and indirect damages), and reasonable attorneys’ fees, caused by or arising out of your use, misuse, or inability to use the Service. This includes any violation by you of these terms. This provision will survive the expiration or termination of this Agreement. This provision will survive the expiration or termination of this Agreement.

Non-Waiver

We shall not be deemed to have waived any of our rights or remedies unless such waiver is in writing and signed by us. No delay or failure on our part to exercise any right or remedy shall be a waiver of that or any other right or remedy. A waiver on any particular occasion shall not be construed as a bar or waiver of any rights or remedies in the future.

Final Considerations

By utilizing the Squareme Virtual Dollar Card, users acknowledge full understanding and acceptance of these terms. The service is designed to enhance financial flexibility, but adherence to regulations ensures its sustainability and security for all parties. For further clarification, users may contact Squareme’s support team at hi@squareme.app .