Terms and Conditions
Version: 1.1 | Effective Date: June 3, 2025
1. General Terms
1.1 Overview. These terms and conditions ("Agreement"), along with our fee schedule, privacy policy, and any additional applicable policies posted on our website (https://www.ilumapay.com/terms), collectively form a legally binding agreement between you, the holder of an Ilumapay Account ("Client"), and Ilumapay ("Ilumapay," "we," or "us"). This Agreement governs your use of Ilumapay Services.
By clicking "Agree," you consent to and accept this Agreement and intend to be legally bound by its terms.
1.2 Definitions.
- "Access Information": login credentials, account numbers, passwords, security questions, and any data used to access your Ilumapay Account.
- "Fiat Payment Card": the physical or virtual card enabling fiat transactions funded via crypto assets.
- "Crypto Asset": digital currencies supported by Ilumapay, such as Bitcoin, Ethereum, and other tokens.
- "Ilumapay Account": your user interface and credentials for managing Ilumapay Services.
- "Service Provider": third parties such as licensed banks, card issuers, and compliance partners used by Ilumapay.
- "KYC/AML Laws": applicable laws on identity verification, anti-money laundering, counter-terrorism financing, and sanctions.
- "Fees": charges associated with Ilumapay Services, detailed at https://www.ilumapay.com/fees.
1.3 Contracting Entity. This Agreement is with Ilumapay Inc., a corporation registered in Hong Kong SAR. Regulated services may also be provided via licensed affiliates or partners.
2. Your Account
2.1 Services. The Ilumapay Account allows you to deposit crypto assets, convert them to fiat, and use fiat payment cards.
2.2 Not a Bank. Ilumapay is not a bank, does not accept deposits, and does not pay interest. Fiat funds are held with regulated third-party partners.
2.3 Jurisdiction Restrictions. You may not use Ilumapay Services if you reside in a jurisdiction where doing so would violate local laws or sanctions.
2.4 Registration and Consent. By registering, you confirm:
- you are acting on your own behalf;
- all information provided is accurate;
- you are not using Ilumapay Services for unlawful purposes;
- you consent to data use as described in the Privacy Policy.
2.5 Compliance Requirements. You must provide identification and fund origin documentation. Ilumapay may decline or suspend accounts based on risk or regulatory criteria.
2.6 Security Responsibilities. You must:
- keep Access Information confidential;
- notify us immediately of unauthorized access;
- accept responsibility for all account activity.
3. Fiat Payment Cards
3.1 Use. Cards may be used for lawful transactions only. Prohibited uses include cash equivalents, gambling, adult content, or sanctioned goods/services.
3.2 Conversion and Rates. Crypto is converted to fiat using market rates plus a margin. Conversion rates and fees are displayed in your dashboard.
3.3 Transaction Limits. Limits vary by verification level and are displayed in your dashboard.
3.4 Monitoring. Ilumapay and its partners monitor transactions. Suspicious activity may result in card or account suspension and regulatory reporting.
4. Fees
4.1 Schedule. Fees include, but are not limited to:
- card issuance and replacement;
- crypto-to-fiat conversion;
- ATM withdrawals;
- account maintenance.
Current fees: https://www.ilumapay.com/fees
4.2 Deduction. Fees are deducted from your Ilumapay balance. Insufficient funds may lead to service suspension.
5. Termination
5.1 By Client. You may terminate this Agreement by closing your account and requesting a return of remaining balances, subject to compliance checks.
5.2 By Ilumapay. We may suspend or terminate your access for:
- violating this Agreement;
- fraudulent or suspicious behavior;
- failure to meet compliance requirements.
5.3 Withholding. Funds may be withheld for up to 180 days to manage chargebacks, disputes, or legal obligations.
6. Liability and Indemnity
6.1 Limitations. To the fullest extent permitted by law, Ilumapay is not liable for:
- lost profits or indirect damages;
- actions of third-party providers;
- blockchain-related disruptions.
6.2 Indemnity. You agree to indemnify Ilumapay and affiliates against losses or claims from your use of Ilumapay Services or violation of this Agreement.
7. Forbidden Activities
Ilumapay prohibits use of its services for:
- weapons, drugs, or counterfeit goods;
- money laundering or terrorism financing;
- gambling or adult content;
- unlicensed financial activity;
- anonymizing technologies like mixers or privacy coins.
Full list: https://www.ilumapay.com/forbidden
8. Governing Law
This Agreement is governed by the laws of the State of Wyoming, USA. Disputes are subject to binding arbitration under AAA rules, unless otherwise required by Hong Kong law for regulatory or data protection issues.
9. Miscellaneous
9.1 Changes. We may amend this Agreement at any time. Continued use of the Services constitutes acceptance of changes.
9.2 Severability. If any provision is found invalid, the remainder will continue in full force.
9.3 Assignment. You may not assign this Agreement without consent. Ilumapay may assign it freely.
9.4 Entire Agreement. This Agreement, including referenced policies, represents the complete understanding between you and Ilumapay.