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Key Facts Statement
Product Overview.
Super Card
Description: SuperCard is a prepaid card for UAE-registered SMEs, enabling corporate expenses for Alaan Customers.
Issuer: NymCard Payment Services LLC, with CBUAE License No. 08.01.02.001.2022.02
Agent: Alaanpay Technology FZCO (“Alaan”).
Eligibility: UAE registered SMEs (the “Customer”) and their registered employees.
Currency: Arab Emirates Dirhams (“AED”).
Key Features & Benefits
- Digital onboarding through Alaan´s App and/or Alaan´s Online Platform.
- Funding is exclusively via wire transfer from the Customer own UAE-based bank account.
- Cards are permitted for POS transactions, e-commerce, and ATM withdrawals.
- Physical Card Delivery: Cards delivered by registered mail service for convenience.
- Card activation and management via the Alaan´s app and/or Alaan´s Online Platform.
Super Card applicable charges and fees.1
Super Card applicable withdrawal limits.
Important.
- This Key Facts Statement provides an overview of the main features of the Corporate Expense Card “SuperCard”. For complete terms and conditions, please refer to the full product documentation available in English and Arabic.
- This document is issued in compliance with CBUAE regulations and is subject to periodic review and updates.
Additional Information.
- Alaan reserves the right to amend its Terms and Conditions (including any relevant applications and documents) by notifying you in accordance with applicable law.
- The cooling-off period allows you to cancel the product within five (5) business days of consenting to the T&Cs and this KFS unless you waive this right. To cancel within this period, you must notify Alaan by contacting us in our Help Desk though the Alaan App or at https://www.alaan.com/contact-us.
- Alaan through its Regulated Partner may debit the Customer’s prepaid card with any charges, expenses, or commission payable against the services rendered in accordance with the approved and announced charges and fees, as notified to the Customer from time to time.
- You can contact Alaan for any enquiries, assistance or complaints through ourthrough our Help Desk in the Alaan App or at https://www.alaan.com/contact-us.
Important Legal Disclaimers & Risk Warnings
- Regulatory Compliance: This product is issued under license from the Central Bank of the UAE (CBUAE) in accordance with the Retail Payment Services and Card Schemes Regulation. All operations are subject to UAE banking and financial services regulations.
- Not a Bank Account: This prepaid card is not a bank account, savings account, or credit facility. Funds loaded onto the card do not earn interest and are not covered by deposit insurance schemes.
- Fund Security: While funds are held in segregated accounts, cardholders should be aware that prepaid cards carry different protections compared to traditional bank deposits. Card balances are subject to the terms and conditions of the Issuer.
- KYC/KYB Requirements: Strict Know Your Customer (KYC) and Know Your Business (KYB) procedures apply. Failure to provide required documentation or comply with verification processes may result in service restrictions or termination.
- Foreign Exchange: Transactions in currencies other than AED are subject to foreign exchange rates and conversion fees as determined by the card scheme and issuer at the time of transaction.
- Liability Limitations: The issuer's liability is limited to the Terms and Conditions of the card agreement. Cardholders are responsible for protecting card details and reporting lost or stolen cards immediately.
- Regulatory Changes: Terms, conditions, limits, and features are subject to change due to regulatory requirements, risk management decisions, or business policy updates. Cardholders will be notified of material changes as required by law.
- Dispute Resolution: All disputes are subject to UAE law and jurisdiction. Alternative dispute resolution mechanisms may be available as outlined in the full terms and conditions.
- Data Protection: Personal and business data is processed in accordance with UAE data protection laws and PCI DSS standards. By using this product, customers consent to data processing as outlined in the Privacy Policy. By signing this KFS, you consent to data processing as outlined above and in our detailed Privacy Policy.
- Transaction Monitoring: All transactions are subject to anti-money laundering (AML) monitoring, fraud detection systems, and suspicious activity reporting requirements. Unusual transaction patterns may result in card restrictions or account closure.
- Usage Restrictions: Cards are intended for legitimate corporate use only. Use for illegal activities, money laundering, or activities prohibited under UAE law is strictly forbidden and may result in immediate account closure and legal action.
- Card Expiry & Replacement: Cards have a 3-year validity period. Replacement cards may be subject to additional fees. Unused balances on expired cards will be returned to the cardholder, subject to applicable terms and conditions.
- Change to the Program (Corporate Expense Card): Terms, conditions, limits, and features are subject to change due to regulatory requirements, risk management decisions, or business policy updates. The Customer will be notified of material changes as required by law.
- Complaints and Dispute Resolution:
- Internal Complaints Process:
- First Level: Contact our customer service via the Help Desk in the Alaan App or at https://www.alaan.com/contact-us
- Timeline: We will acknowledge your complaint within 2 business days.
- Resolution: Complaints will be resolved within 30 business days
- Escalation: If unsatisfied, escalate to our Complaints Manager at support@alaan.com
- External Dispute Resolution:
- CBUAE Sanadak Portal: www.sanadak.ae
- CBUAE Consumer Protection Unit: +971 2 691 4499
- UAE Courts: All disputes subject to UAE jurisdiction
- Your Rights: You have the right to escalate unresolved complaints to CBUAE at any time. There is no charge for using CBUAE's complaint resolution services.
Account Closure.
Initiating Account Closure
Customers have the right to close their account at any time by contacting Alaan’s customer service available via our Help Desk function through Alaan App or at https://www.alaan.com/contact-us. Alaan may also close accounts in accordance with the Terms and Conditions, including for material breach or legal/regulatory requirements.
Account Closure Process
When account closure is initiated, the following process will apply:
- Fund Loading: Upon notification of account closure, the Customer must stop adding funds to the account. However, funds may be added where required to settle pending transactions.
- Transactional Clearing: Upon account closure, the Customer will face a period of time where all pending transactions must be settled or reversed. Unless the closure is due to a material breach of the Terms and Conditions or legal requirements.
- Balance Refund: After all pending transactions are settled or reversed, any remaining balance will be refunded in accordance with the process outlined in the closure notification. Funds will be transferred to a UAE bank account in the Customer’s name.
- Account Suspension: Once the refund process concludes, the card, account and system access will be suspended and no longer would be available for use.
Important: Refund processing times and any applicable administrative fees will be communicated during the closure notification process.
Digital acceptance.
Acceptance of Terms and Conditions. Acceptance of Alaan’s Terms and Conditions during the digital onboarding process constitutes the customer’s full acknowledgment of this Key Facts Statement (KFS).
No separate physical or digital signature of the KFS is required. The onboarding acceptance serves as the sole expression of consent for both the Terms and Conditions and this KFS.
1 This KFS provides key indicative Fees & Charges (inclusive VAT). For full and updated charges please refer to www.alaan.com/pricing
