This is a proposed draft for discussion, not an active policy or agreement. It requires legal and issuer review and confirmation of the details flagged below before taking effect.
1. The agreement for your card
This sample sets out proposed terms for Vaultly’s Merchant Checkout cards and a separate Corporate Prepaid program. The final agreement must identify [program operator] and [applicable issuer], the customer’s country, and the documents accepted at enrolment. Read the applicable fees, limits and disclosures before agreeing to a live program. This draft cannot be used to activate a card.
2. One-time gift card
The one-time gift card is a nonreloadable, closed-loop payment option for the participating merchant. The order total carries into the funding journey. Once successfully funded, the card pays for that purchase and is retired after use. It cannot be reloaded or used as a general-purpose card at other merchants.
All gift card sales are final. Once purchased, gift cards are non-refundable. A change of mind or cancellation of the intended order does not by itself entitle you to a refund of the gift card purchase. Returns of merchant goods or services are handled separately under the merchant’s policy and applicable law.
Failed transactions, unused funded value and any required refunds after retirement must be addressed in the approved program procedures. This final-sale policy does not limit rights for unauthorised transactions, payment errors or any refund required by law.
3. Reloadable virtual card
The virtual card is intended as a general-purpose reloadable program. You must complete identity verification before funding or using it. Provide accurate information and any reasonably required supporting records. Eligibility, age and residency requirements must be stated in the final agreement; completing an application does not guarantee approval.
After approval, you can fund the card for the checkout purchase and reload it for later spending. The cardholder portal is intended to show your balance, transaction history and card details and support transfers to a bank account. Transfer eligibility, destination-account requirements and processing times will be governed by the final program rules.
4. Funding either Merchant Checkout card
- Canada: credit card by entering your card details, credit card through Apple Pay or Google Pay, and Interac e-Transfer.
- United States: credit card by entering your card details, credit card through Apple Pay or Google Pay, Venmo, Cash App, Zelle and real-time ACH.
Use only funding sources you are authorised to use. Check the amount, currency and any disclosed charges before confirming. Funding providers apply their own eligibility and transaction rules. A funding instruction or confirmation screen does not necessarily mean funds are available to spend.
5. Spending, balances and security
Purchases must fit within the available balance and applicable limits. Pending transactions may reduce the amount available for further spending. Protect login credentials, card details and verification codes, and review activity regularly. Unlawful use and attempts to bypass security or program restrictions are prohibited.
The virtual-card acceptance network and any merchant-category restrictions remain to be confirmed. Funding a prepaid balance with a credit card does not itself make the Vaultly card a credit product.
6. Refunds, errors and disputes
For goods, delivery or cancellation issues, contact the merchant. For suspected unauthorised activity or a transaction error, use the program’s designated support channel promptly and retain relevant records. Contacting a merchant should not delay a required error report. Applicable rights, reporting deadlines, investigation procedures and liability rules must be provided in the final country-specific agreement.
Our Dispute Transaction page currently offers sample preparation guidance only; it does not submit a claim. A merchant refund is not available to spend until it is received and posted under the applicable program process.
7. Suspension, closure and notices
Access may be restricted to address suspected fraud, legal requirements or a material agreement breach, subject to applicable law. Closure does not automatically forfeit a lawful entitlement to remaining funds. The final agreement must explain how to request closure, handle unsettled transactions and return eligible balances.
Approved terms should explain how statements and changes are delivered, any electronic-consent requirements, and support and complaint channels. Mandatory consumer protections continue to apply.
8. Corporate Prepaid: separate program
Corporate Prepaid is available for businesses and their employees in Canada and the United States and operates independently of Merchant Checkout. The corporation manages staff and payouts through its portal. Employees receive company funds for incentives, reimbursements and other corporate-related payments and use an employee app to view balances, transactions and card details and move funds off the card.
Only the corporation may fund corporate employee cards. Employees cannot load personal or external funds. The customer funding methods in section 4 and the one-time gift card final-sale policy do not govern the corporate program. Employee transfers out are separate from funding in.
Corporate business and employee agreements must separately specify enrolment and verification requirements, issuer and acceptance, company funding arrangements, eligible transfers, fees, limits, disputes, employment changes and treatment of remaining funds. Merchant settlement schedules do not apply to employee payouts.
9. Loyalty and cardholder terms
Vaultly Loyalty is governed by its own approved business and member program terms. A loyalty membership or points display is not itself a prepaid card or a card balance. These cardholder terms apply when a member separately uses a Vaultly payment card; they do not set the rules for earning or redeeming loyalty rewards.
Card funding options, bank transfers and the one-time gift card final-sale policy do not automatically apply to loyalty points. Any connection between a purchase and a reward, including adjustments after a return, must be explained in the loyalty program rules. For missing points or reward concerns, see Loyalty support guidance and the Loyalty disclosures.
Issuer and operator; eligibility; currencies; fees and limits; funding settlement; refunds and residual balances; card expiry; error-resolution deadlines and liability; closure; support contacts; governing law.
Drafting references
Original sample wording informed by these card-program agreements. Vaultly has separate product features; no issuer, pricing or protections from these programs are adopted.