VCC Service Agreement

1. Before using VCC service, please carefully read the terms of this Agreement, especially the bolded sections. Your signature or seal indicates that you are aware of, understand, and agree to all provisions of this Agreement, and the Agreement thereby becomes effective.
2. To sign this Agreement and apply for the services under this Agreement, the following conditions must be met:
   1. If you are registering as an individual, you must be at least 18 years old and have the full legal capacity to enter into this Agreement.
   2. If you are registering as a legal entity and/or corporation, you should designate and authorise specific operators to act on your behalf on our platform, and add operator contact information (including but not limited to name, phone number, and email address) to our platform. The operator's account registration and VCC service use on our platform should be authorised by you in a real, complete, and effective manner. Any operations performed by the operator on the platform should be fully assumed by you.
   3. You acknowledge and agree that when applying to use VCC services, you need to provide your relevant certification information (including but not limited to your identity information and transaction information). We will provide relevant services to you according to this Agreement after we complete the verification and validation of your identity information and transaction information based on our internal rules, such as compliance and risk control, as well as the laws, regulations, and regulatory requirements.

1. You can use the VCC within your limit for e-commerce-related industry product payments (hereinafter referred to as "card usage purposes"), which are limited to advertising, e-commerce platform registration, management, and procurement costs. If you plan to expand the scope of use, you need to obtain our written consent.

1. Activation and Top-up
   1. You should apply for the VCC service on our platform; before applying for the VCC service, you must apply to open an account with us. After successful activation of the VCC service, you can select the currency of the VCC on your own. Upon selection completion, you will receive the card number, validity period, CVV2 code/CVC2 code, and other relevant information.
   2. You authorise us to collect and use all the information you submitted during the application and use of our platform and VCC service for the purpose of this Agreement. You also authorise us to provide necessary information to the service provider for facilitating the services under this Agreement.
   3. We and our service providers have the right to decide whether to activate the VCC for you based on your compliance and credit situation.
   4. You can apply for a VCC limit based on your needs. You should ensure that there are sufficient funds in your account, otherwise, you should bear the loss caused by the inability to use the card due to insufficient funds.
2. Usage
   1. You should cooperate with us to provide the data needed for compliance, anti-money laundering, or operational purposes, and upload a transaction contract template based on its card usage purpose in advance. You should ensure that the data you provided to us is true, legal, sufficient, and effective.
   2. You must use the VCC legally, and only within the scope of card usage purposes. You may not transfer or share the right to use the VCC to a third party without our consent. You ensure that the transaction requests you initiate, are real and legal transactions, and there is no suspected money laundering, false transactions, cashing out, fraud, tax evasion, and other illegal and irregular situations, as well as transactions with high refund rates described by the card group or card issuer ("High-Risk Transactions"). If you directly engage in the above-mentioned High-Risk Transactions, resulting in losses to us and/or to service providers (including direct and indirect losses), you will compensate us and/or the service providers for the total amount of losses suffered to indemnify us and/or the service providers.
   3. You acknowledge and agree that during the use of the VCC service, if you encounter risks such as store closure, High-Risk Transactions, public sentiment, etc., we keep the right to freeze the use of the VCC, and have the right upon giving you three days’ notice to freeze your account balance as risk funds. If it is confirmed that no risk event has occurred, we will unfreeze your account and VCC. If a risk event is confirmed conclusively, we have the right to take action for your account and VCC in any one or more ways according to the severity of the risk event, damage, and other factors: cancel your account; cancel the VCC; deduct the amount of damages caused to us by your risk event from the risk funds and the remaining limit of the VCC related to risk events. Provided these damages are evidenced and fully documented and communicated to you beforehand and in any case at least three days before. This investigation process relating to potential risk events will not take longer than 30 days.
   4. If you need to close a certain VCC, you should apply for cancellation on our platform. After we confirm that there is no risk event during your usage of the VCC or after the risk event has been resolved and the cost settlement is completed, we will return an amount equivalent to the remaining limit of the VCC to your account.
   5. You should also comply with other relevant rules and VCC management systems published in real-time on our platform.
3. Dispute Resolution
   1. You should independently request the corresponding receipts for products and services in transactions using the VCC from the transaction counterparty. If any issues related to the products and services arise during and after the transaction, you should negotiate with the transaction counterparty yourself. We do not bear any responsibility for any transaction failures in any situation, for any reason. We do not bear any responsibility for disputes between you and the transaction counterparty.
   2. You should carefully manage your account information and VCC card information, including but not limited to your account name, login password, VCC card number, CVV2 code/CVC2 code, VCC validity period, etc. We will provide you with the necessary logs and data for investigating any possible breach. You alone bear any losses due to the disclosure of your account information or VCC card information caused by your own reasons. If you suspect that the VCC is being used without authorisation, you should immediately notify us to freeze or cancel the card, and you can issue a dispute resolution request to us according to Articles 3.3 and 3.4 of the present Agreement.
   3. In case of a dispute, you should make a written request to us for dispute resolution within 75 days from the date of transaction settlement, and pay us the dispute processing fee (see Appendix 2). After we confirm the receipt of the dispute resolution request and dispute processing fee, we will assist you in initiating dispute resolution to the service provider.
   4. During the dispute resolution process, the disputed transaction amount will still be deducted from the corresponding limit. If the dispute is ultimately successful, after we receive the refund, we will restore your limit equivalent to the dispute amount and the dispute processing fee on the next working day. If no refund is received within 2 days following a successful dispute, we undertake to restore your limit equivalent to the refund dispute amount we received from you and the dispute processing fee on the next working day. Those not raised within the period are considered as having no dispute.

1. Dispute Resolution
   1. The details of the fees we will charge you are shown in Appendix II "Fee Standards";
   2. Authorisation fees that may arise as required by service providers subject to justification and prior notification of 15 days;
   3. The fee details are based on the announcement. You acknowledge and agree that we reserve the right to adjust the relevant fees from time to time by giving to you 10 working days notice. If you are unable to agree to the adjusted fees, you have the right to stop using the VCC service.
   4. In the future, we may add other card segments or products that may have different fees. We will notify you separately. If you opt to use them, it indicates that you agree and accept.
2. Third-Party Fees

   "Third-Party Fees" refer to any fees and incidental costs incurred due to your use of the VCC, including but not limited to international assessment fees and other fees levied by card organisations; "Merchant Fees" that card organisations, merchants, or merchant banks charge for your use of the VCC; relevant fees and taxes charged by other financial institutions and governments etc. Third-party fees are borne by you.

3. Other Possible Fees

   Taxes:

   a) If any relevant tax authority in the country/region providing and using the VCC assesses any amount of VAT, you should pay us the VAT amount after receiving the valid tax invoice sent by us. If any department in the country/region where the VCC or service is collected using an automatic debit mechanism assesses and collects any amount of VAT, requiring the recipient of the service to pay taxes or VAT, then you should calculate this VAT on your VAT return in accordance with the tax laws of your country/region. Any claims for penalties or interest due to delayed VAT payment are your responsibility.

   b) If the law requires you to deduct or withhold from any VCC fees paid under this Agreement, then you should provide us with possible reasonable evidence related to the deduction or withholding.

4. Statement

   The details of each transaction made using the VCC and the VCC limit, etc. will be recorded on our platform for you to check your account. You should check the orders and fund changes on our platform daily, and notify us immediately if there are any objections.

1. If any party breaches the provisions of this Agreement, it should bear the liability for breach of contract and compensate for the losses caused to the other party.
2. On the basis of documented evidence, if your breach causes us losses, we have the right, with 5 days’ written notice to directly deduct the corresponding amount from your account. If the amount is insufficient, you should make up for it separately; we can decide to suspend or delay the execution of your instructions for any reason based on reasonable and documented reasons, and do not bear any responsibility. If this causes you a loss, you should bear it yourself.
3. The listed scenes in Appendix III are considered high-risk transactions when using the related card segment in those scenes. You should advise users not to use the card in those scenes when using that card segment. If used, an additional penalty fee of 10U per* the number of high-risk transactions will be charged. (Note: this charge will be applied only for the scenes listed in Appendix III, and you will receive a notification in advance when the list is updated). The VCC used in Appendix III listed scenes will be frozen immediately, and you need to let your user fully understand the listed high-risk transaction is strictly forbidden. Once a VCC accumulates five times listed high-risk transaction, it will eventually be cancelled, and a penalty charge will be applied.
4. For the scenarios of present Agreement’s Articles 5 section 2 and 3, we provide bi-weekly report to you to identify the users whose VCC had low authorisation rate (Appendix III) and high-risk transactions (AppendixII). You also need to proactively improve your overall authorisation rate and avoid high-risk transactions.

You acknowledge and agree that we can make changes to the VCC service content, such as modifying the card usage geographical restrictions, supplier restrictions, limit restrictions, or modifying the settlement rules, dispute handling rules, etc., or may interrupt, suspend, or terminate part or all of the VCC service after issuing a prior notice, based on our reasonable judgment, the requirements of service providers, compliance with applicable laws, or the instructions of card organisations.

1. You acknowledge and agree that we have the right to directly interrupt or terminate your right to use the VCC service under the following circumstances:
   1. For violating laws and regulations, being investigated by relevant authorities or being put on file or intervened for investigation by public security, prosecution, and law enforcement authorities;
   2. Being judged as violating rules, being included in the risk list, etc., by regulatory authorities, bank card organisations, etc., or if you and your legal representative or responsible person have bad information in the risk information management system of regulatory authorities;
   3. Disclosing VCC card information to a third party or transferring or sharing the right to use the VCC to a third party;
   4. Using VCC service for illegal activities;
   5. Failing to pay service fees in full and on time;
   6. At the request of our or the service provider's regulatory authorities or competent departments;
   7. For safety or other reasonable considerations.

1. Service Availability:

   Scheduled maintenance will be communicated to you with a minimum notice period of 24 hours.

2. Response Times:

   We will respond to any support inquiries from you within 12 hours.

3. Data Security:

   Both side of us needs to implement industry-standard security measures (PCI DSS) to protect cardholder data and ensure compliance with data protection regulations.

4. Transaction Processing:

   We will process transactions promptly and accurately, adhering to all industry standards and regulations.

5. Reporting:

   We will provide monthly reports to you detailing transaction volumes, service performance, and any incidents, if applicable. For particular reason such as dispute, or recharge, an additional report can be provided free of charge with request.

1. You agree that we can send you notices and related service information through the following ways: posting notices on our website (including notices that can only be received by logging into your account), sending emails to your provided contact email address, calling your provided contact phone number, or sending text messages to you. Except for another revision in this Agreement, the above-mentioned related notices of ours are considered as having been received by you within 24 hours from the time they are posted on our website or sent by email. If the notice is sent by post, it is considered received three working days after the notice is sent. By signing this Agreement and opening an account with us to use our services, you agree that you can normally access the internet and will regularly check your email and text messages as well as log into your account. Additionally, if you need to contact us regarding issues related to your use of our payment services, you can call our customer service number, send emails to our designated email address, or contact designated staff approved by us. Our customer service email is: service@blockpurse.io
2. We will use your detailed information to contact you. If your email, phone number, address, contact person, or any other important information changes, please notify us immediately to update the corresponding information.

1. We prioritize the protection of user information (including your personal information). In the course of your usage of our service, in order to provide services to you in a lawful and compliant manner, we may collect and retain information related to you, including personal information. For information on how we collect, use, store, protect, or disclose information related to you, please specifically refer to the "Privacy Policy". The Privacy Policy has the same legal effect as this Agreement.
2. For the purposes of this clause, we pledge, and will induce our service providers to pledge (if applicable), that they will only obtain and use such transaction information within the scope of your authorisation for the purpose of providing services under this Agreement. If we and/or service providers, due to our fault, obtain information or use information beyond the scope of authorisation, or cause the disclosure of your information and result in economic loss to you, we will compensate you for such actual economic loss suffered.

1. The confidential information under this Agreement includes all the following information: information disclosed by the disclosing party to the receiving party in oral or written form, all business plans and/or marketing plans (including any schemes) related to the disclosing party and its affiliated parties, business strategies, financial and pricing data, arrangements and agreements between you and third parties, product information, R&D materials, samples, new product and new service information, including but not limited to trade secrets, software, product design information, your information, supplier and investor list or information, unpublished price and pricing policy information and other reasonably related information required by the receiving party to make a decision to reach a formal commercial relationship with the disclosing party. Both parties should keep the confidential information strictly confidential and use it only for the purpose of this cooperation, and shall not disclose the confidential information to any third party without the prior written consent of the other party, otherwise, it will be regarded as a breach of contract. This clause continues to be effective after the termination of this Agreement and does not terminate due to the termination of this Agreement.
2. We possess the necessary ownership and intellectual property rights for the content of the network services we provide. The content of our website network service includes: all content in text, software, sound, pictures, videos, graphs, advertisements; all content in emails; and other information provided by our website for users. All these contents are protected by copyright, trademark, label, and other property ownership laws. Unless there is another agreement between the two parties, this Agreement may not be interpreted as us granting you any part of the intellectual property rights related to such content.
3. You may not take reverse engineering measures to crack our systems and programs, may not copy, modify, compile, integrate or tamper with the aforementioned systems and programs (including but not limited to source programs, target programs, technical documents, client to server-side data, server data), may not modify or decrease the functions of our system;
4. You may not use our service or obtain our service-related data by yourself or allow a third party through non-official programs of ours, machines, scripts, crawlers, or other automated methods. You can only use our service through your own manual operation or the standard APIs we provide;

1. Due to force majeure or third-party reasons that cause either party to delay or fail to perform (except for non-payment of due payables), the party affected by the force majeure should be exempted or relieved from the performance of such obligations within the scope affected by the force majeure without having to bear any responsibility.
2. Force majeure refers to an objective situation that occurs after the signing of this Agreement and that the affected party cannot foresee, avoid, and overcome. These events include but are not limited to floods, fires, droughts, typhoons, earthquakes and other natural disasters, strikes, disturbances, riots, wars, and government actions.
3. Given the special nature of the network, the force majeure under this agreement should also include any situation that affects the normal operation of the network. This situation includes but is not limited to malicious attacks by hackers, design defects in tool software, computer virus intrusion and outbreaks that cannot be prevented by existing normal security measures, outbreaks of large-scale new viruses, network interruption and servers being inaccessible due to telecom operator problems, user interface failures of cooperative banks or related financial institutions, mobile operator gateway failures, an unpredictable large increase in transactions due to a certain instruction, etc., but the premise is that the affected party should not be exempted from the corresponding disaster recovery obligations under such force majeure events;
4. If the force majeure event lasts for more than thirty days, the unaffected party should have the right to terminate this Agreement while the force majeure event continues.

1. You may not transfer all or part of this Agreement, unless required by law. Any unauthorised transfer shall be deemed invalid and will constitute a breach of this Agreement.
2. If any provision of this Agreement is determined to be unenforceable by a court or regulatory authority, the other provisions of this Agreement remain fully effective.
3. The validity period of this Agreement is 1 year, effective from the time of signing by both parties. If you do not raise objections 20 days before the expiration, this Agreement is automatically renewed for 1 year. If either party intends to terminate the Agreement, it must be proposed 7 days in advance, and the Agreement is terminated after there is no risk event during your use of the VCC or after the risk event is resolved and the cost settlement is completed.
4. This Agreement is governed by the laws of the Hong Kong Special Administrative Region and is subject to the non-exclusive jurisdiction of the Hong Kong courts.

Accept and Agree

By:

Name:

Title:

Date:

Better Finance Limited

By:

Name:

Title:

Date:

This agreement includes the following appendices:

Appendix 1 "Definition of Terms"

Appendix 2 "Fee Standards"

Appendix 3 "Risk Blacklist Platforms"

Appendix 4 “Privacy policy”

Definition of terms under this agreement:

1. VCC: Refers to the Virtual Credit Card, that is, an electronic form of card used to purchase goods or services.
2. Virtual Credit Card Service ("VCC Service"): Refers to the virtual credit card service provided to you by us through service providers, through which you can carry out transactions in designated online scenarios using this virtual credit card.
3. Service Provider: Refers to our associated companies, cooperative banks, and/or other financial institutions.
4. Card Organisation: Refers to the entity that operates card-based payment systems and services and allows issuing institutions to issue cards associated with it.
5. CVV2 Code/CVC2 Code: Refers to the security code for payment verification that matches the virtual credit card number provided by the service provider after we open a card for you through the service provider.

*Regular Review and Reporting

1. The risk control department will compile a risk control report for this group of customers and notify charges through sales.
2. The risk control department will regularly publish a transaction blacklist.
3. The risk control department will randomly inspect risk transactions at any time and has the right to shut down cards and merchants.

Blockpurse is committed to protecting your privacy. This privacy policy has been compiled to better serve those who are concerned with how their “personal information” is being used online. Please read our privacy policy carefully to get a clear understanding of how we collect, use, protect or otherwise handle your personal information in accordance with our website. This privacy policy is designed to let you know how Blockpurse collects, uses, stores, shares and protects your personal information. It explains the data collection and use practices of Blockpurse’s website (www.Blockpurse.io) and its products and services (the “Services”). The terms “you,” “your,” and “yours” refer to the customer utilising our website. The terms “Blockpurse,” “we,” “us,” and “our” refer to Blockpurse. By using this website or any services, you consent to the practices prescribed in this statement. We may amend this privacy policy at any time by posting a revised version on our website. If we make any significant changes, we will notify you by email.

1. Types of information we collect

   If you create an account or use the Services, we may collect the following three basic types of information:

   1. Personally identifiable informationl

      Personally identifiable information, as used in US and Hong Kong privacy law and information security, is the information that can be used on its own or with other information to identify, contact, or locate a single person, or to identify an individual in context.

      When you visit Blockpurse’s website or use the services, we collect information sent to us by your computer, mobile phone, or other access device. This information may include your IP address, device information including, but not limited to, identifier, name and type, operating system, mobile network information and standard web log information, such as your browser type, and the pages you accessed on our website.

      When you use a location-enabled device with our Services, we may collect geographical location data or use various means to determine the location, such as sensor data from your device that may, for instance, provide data on nearby cell towers and wi-fi access spots.

   2. Aggregate information

      Aggregate information means information about groups or categories of users, which does not identify and cannot reasonably be used to identify an individual user.

      We may collect location information when you visit our website, including location information either provided by a mobile device interacting with one of our sites, or associated with your IP address, where we are permitted by law to process this information. The IP addresses that we collect are to analyse trends, administer the site, track user’ s movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information. Additionally, for system administration, detecting usage patterns and troubleshooting purposes, our web servers automatically log standard access information including browser type, access times, URL request, and referral URL. This information is not shared with any third parties and is used only within Blockpurse on a need-to-know basis. Any individually identifiable information related to this data will never be used in any way other than the usage stated above without your explicit permission.

   3. Financial Information

      We may collect your financial information, including the full bank account numbers that you link to your account or give us when you use the Services.

      Furthermore, before permitting you to use the Services, we may require you to provide additional information (such as a date of birth or partial social security number) so that we can verify your identity or address. We may also obtain information about you from third parties such as identity verification services.

      When you use the Services, we collect information about your transactions and your other activities on our website and we may collect information about your computer or other access device for fraud prevention purposes. We may collect additional information about you through your interactions with our support team.

2. How do we use your information?

   We are sometimes required to compare the personal information you provide to third party databases in order to verify its accuracy and confirm your identity. More specifically, we will ask you to provide your photo ID (passport/ID card) along with your proof of address. This allows us to comply with state and federal Anti-Money Laundering (AML) and “Know Your Customer” (KYC) regulations.

   We may use the information we collected from you when you register, use our Services, respond to a communication, surf the website, or use certain other site features in the following ways:

   • To personalize user's experience and to allow us to deliver the type of content and provide services in which you are most interested.
   • To improve our website in order to better serve you.
   • To allow us to better serve you in responding to your customer service requests.
   • To send periodic emails to you regarding notices about your transactions, deliver service update notices, marketing messages, and promotional offers based on your communication preferences.
3. How do we protect personal information we collect?

   Throughout this policy, we use the term "personally identifiable information" to describe information that can be associated with a specific person and can be used to identify that person. We do not consider personal information to include information that has been anonymized so that it does not identify a specific user. Blockpurse takes reasonable precautions, as described herein, to protect your personal information from loss, misuse, unauthorized access, disclosure, alteration, and destruction.

   We store and process your personal and transactional information, including certain payment information, such as your encrypted bank account and/or routing numbers, on our computers in Hong Kong and elsewhere in the world where Blockpurse facilities or our service providers are located, and we protect it by maintaining physical, electronic and procedural safeguards in compliance with applicable US federal and state regulations. We use computer safeguards such as firewalls and data encryption, we enforce physical access controls to our buildings and files, and we authorize access to personal information only for those employees who require it to fulfill their job responsibilities. Full credit card data is securely transferred and hosted off-site by a payment vendor in compliance with Payment Card Industry Data Security Standards (PCI DSS). This information is not accessible to Blockpurse staff.

   We store our customers' personal information securely throughout the life of the customer's Blockpurse Account.

   Blockpurse will retain your personal information for a minimum of five years or as necessary to comply with our legal obligations or resolve disputes.

4. How do we use “Cookies”?

   A cookie is a small piece of text sent to your browser by a website you visit. It helps the website to remember information about your visit, such as your preferred language and other settings. That can make your next visit of this site easier and more convenient for you.

   Like most interactive websites, Blockpurse’s website uses cookies to enable us to retrieve user details for each visit. Cookies are used in some areas of our site to enable the functionality of this area and ease of use for those people visiting.

5. Marketing

   We will never sell or rent your personal information to third parties. We may combine your information with information we collect from other companies and use it to improve and personalize the Services, as well as our content and advertising.

6. How do we share personal information with other parties?

   We may share your personal information with:

   1. Our banking partners (if you link a bank account, debit card or credit card to your account).
   2. Companies that we plan to merge with or be acquired by. (Should such a combination occur, we will require that the new combined entity follow this Privacy Policy with respect to your personal information. You will
   3. receive prior notice of any change in applicable policy.)
   4. Third party identification services for fraud prevention purposes.
   5. Law enforcement, government officials, or other third parties when:
      1. We are compelled to do so by a subpoena, court order or similar legal procedure; or
      2. We believe in good faith that the disclosure of personal information is necessary to prevent physical harm or financial loss, to report suspected illegal activity or to investigate violations of our User Agreement.
      3. Other third parties with your consent or direction to do so.
      4. Blockpurse will not provide your personal information to any other Blockpurse users without your consent or direction.
7. Notification of changes

   Blockpurse reserves the right to modify this Privacy Policy at any time. Please review this Policy from time to time to ensure your familiarity with its terms.

8. Contacting us

   If there are any questions regarding this privacy policy you may contact us using the information below.

   Web Address: https://www.blockpurse.io/

   Email: support@blockpurse.io