Terms & Conditions

1. Introduction

1.1 Welcome to Pil by Cardtonic (“PIL”, the “Product”, the “Platform”), a spend and expense management solution designed for individuals, teams, and businesses with significant or high-value online spending needs provided by The Tonic Technologies Ltd (“Cardtonic”, “we”, “us”, or “our”).

1.2 By registering, accessing, or using PIL, you (“User, Individual, Team, Business, or “You”) agree to and be bound by these Terms and Conditions (“Terms”). If you do not agree, you may not use the Platform.

1.3 Pil By Cardtonic is designed for individuals, teams, and registered businesses that carry out high-value online transactions, including advertising payments, vendor payments, subscriptions, and international software payments.

2. Definitions

2.1 User: Any individual, team representative, or registered business approved to use Pil by Cardtonic

2.2   Business: A registered company using Pil by Cardtonic for corporate or operational payments.

2.3    Individual: A natural person using PIL for high-value or professional online transactions.

2.4     Account Owner: A primary account holder who invites additional authorized users under one account.

2.5   Virtual Card: A USD-denominated card issued through Cardtonic for online payments.

2.6    Funding Wallet: The account you use to load funds onto virtual cards.

2.7  Stablecoin: Supported digital currency used to fund cards.

2.8 Daily Limit: The maximum total transactions allowed per business in a single day.

3. Eligibility & Verification

3.1 PIL by Cardtonic is available to eligible individuals, teams, and registered businesses, subject to sign-up, verification, and compliance requirements.

3.2 By using PIL by Cardtonic, you confirm that:

If registering as a business, you are a duly registered entity.

If registering as an individual, you are at least 18 years old and legally capable of entering into a binding contract;

If acting on behalf of a team or business, you are authorized to do so;

You will use PIL only for lawful and permitted high-value online transactions.

Note: All users must complete applicable KYC and verification requirements.

4. Service Overview

4.1 PIL by Cardtonic enables users to:

Create and fund virtual USD cards using local currencies and only supported stablecoins;

Make international payments.

Track and manage expenses via a web-based dashboard.

Integrate with accounting software or future API features.

4.2 Kindly note that card acceptance depends on the card network, merchant rules, and regulatory compliance. Pil by Cardtonic does not guarantee uninterrupted payment success.

5. Funding & Transaction Limits

5.1 Daily Cumulative Limit

1. Each virtual USD card is subject to a daily cumulative transaction limit of USD 50,000 (or its equivalent in supported currencies).

2. All attempted transactions, including those that fail or are declined, count toward this daily limit.

5.2 Pil By Cardtonic may adjust transaction limits at its discretion for compliance, risk management, or regulatory requirements.

5.3 Funding Methods

1. Cards may be funded via approved currencies (USD, Naira & Ghana Cedi) and supported stablecoins (namely, USDC & USDT).

2. FX rates and conversion fees apply; Pil by Cardtonic is not responsible for currency fluctuations.

3. Stablecoin transactions may be delayed due to blockchain network conditions.

6. Failed or Declined Transactions

6.1 Transactions may fail or be declined due to:

1. Insufficient balance;

2. Vendors/service providers restrictions or card network restrictions;

3. Regulatory or compliance checks;

4. Technical issues.

6.2 Authorization & Settlement

6.2.1 All card transactions are subject to an authorization process at the time of purchase. Authorization occurs when a merchant requests approval from the card network to confirm that sufficient funds are available and that the transaction complies with applicable rules.

6.2.2 An authorization:

1. May place a temporary hold on funds in the User’s wallet or card balance;

2. Does not guarantee final completion of the transaction;

3. May be reversed, adjusted, or declined before settlement.

6.2.3  Settlement occurs when the vendor submits the approved transaction for final processing, and funds are transferred through the applicable card network.

6.2.4 Users acknowledge that:

1.  An authorized transaction may still fail before settlement;

2.  The final settled amount may differ from the authorized amount (e.g., currency conversion, vendor adjustments, tips, or delayed charges);

3. Certain vendors may delay settlement, resulting in temporary holds on funds for a period determined by the card network;

Note: Pil By Cardtonic has no control over vendor settlement timelines and shall not be liable for losses, penalties, delays, or discrepancies arising from authorization reversals, delayed settlements, or merchant processing practices.

7. Permitted & Prohibited Use

7.1 PIL may be used for professional, commercial, or high-value online transactions, including but not limited to:

1. Advertising (Meta, Google, TikTok, etc.)

2. Vendor or procurement payments

3. Team or project-specific expenses

4. Other lawful online payments consistent with these terms

Prohibited: You shall not use PIL by Cardtonic for:

• Illegal or fraudulent activities;

• Transactions involving sanctioned entities or jurisdictions;

• Gambling, adult content, weapons, or other restricted industries;

• Any activity violating applicable laws, regulations, or card network rules.

8. Multi-Card Management & Team Access

8.1 Users may create multiple virtual cards, each with customizable labels and spending limits (e.g., “Meta Ads”, “Tools”, “Team Subscriptions”).

8.2 Users can invite teammates, assign cards, and set limits per team member or card.

8.3 Users are responsible for all activity conducted by authorized team members. Pil by Cardtonic is not liable for unauthorized use by team members with account access.

9. Fees & Fx Risks

9.1 Users are responsible for all fees associated with the use of Pil By Cardtonic, including but not limited to:

• Card issuance fees

• Funding fees

• Transaction fees

• Declined fess

• Currency conversion or FX fees

9.2 Cards may be funded via approved local currencies (e.g., Naira, Ghana Cedis) or supported stablecoins (USDC, USDT).

9.3 Stablecoin transactions may be delayed, irreversible, or subject to network conditions but Pil by Cardtonic is not responsible for any fluctuations in exchange rates or losses arising from FX conversions.

9.4 Any applicable fees will be displayed on the dashboard or communicated before transaction confirmation. The exchange rate for stablecoin funding is locked only upon final blockchain confirmation on the supported network. Pil by Cardtonic is not liable for fluctuations occurring between the initiation of the transfer and its confirmation

10. Compliance & Monitoring

10.1 We may monitor transactions, conduct compliance reviews, and request additional documentation. We reserve the right to suspend, freeze, or terminate cards or accounts for fraud, misuse, regulatory requirements, or risk management purposes.

11. Integrations

11.1 PIL by Cardtonic may integrate with accounting software and APIs. PIL By Cardtonic will do all to ensure maximum, but does not guarantee uninterrupted service or full compatibility with third-party integrations, and is not liable for losses due to integration issues.

12. Data Protection & Privacy

12.1 PIL By Cardtonic collects and processes personal and corporate data in accordance with applicable data protection laws. By using PIL By Cardtonic, you consent to the processing of:

• Transaction data

• Corporate account data

• Employee information necessary to provide the service

13. Limitation of Liability

13.1 PIL By Cardtonic shall not be liable for:

• Indirect or consequential losses;

• Loss of profit or revenue;

• Third-party platform restrictions or interruptions.

14. Suspension & Termination

14.1 PIL By Cardtonic may suspend, freeze, or terminate access at its discretion for:

• Suspected fraud or misuse;

• Compliance or regulatory issues;

• Failure to provide required documentation;

• Situations presenting operational, financial, or reputational risk.

14.2 Termination does not relieve you of outstanding obligations.

15. Chargebacks & Vendor Disputes 

15.1 Users are responsible for all disputes or chargebacks with merchants. However, Pil By Cardtonic may assist by providing transaction information, which does not guarantee reversal of any transaction. Any fees, penalties, or losses resulting from chargebacks are the responsibility of the users.

16. Taxes & Regulatory Fees 

16.1 Users are responsible for any applicable taxes, duties, or regulatory fees arising from their use of PIL by Cardtonic. Pil by Cardtonic is not responsible for reporting or paying taxes on behalf of businesses

17. Unauthorized Transactions / Fraud Reporting

17.1 Users must report any unauthorized or suspicious transactions to Pil by Cardtonic immediately. Pil by Cardtonic may investigate, but the users remain responsible for safeguarding login credentials, virtual card details, and account access.

Failure to promptly report unauthorized activity may limit recovery options.

18. Governing Law & Dispute Resolution

These Terms are governed by the laws of the Federal Republic of Nigeria. In the event of any disputes, the same shall first be resolved amicably; if unresolved, they may be submitted to arbitration in Lagos under the Arbitration and Mediation Act 2023.

Current Version: v1.0

Effective Date: 16th day of February 2026

Reviewed and approved by Management, The Tonic Technologies. (RC-1784510)