Terms of Service

Welcome to Binrora (the “Platform”). This Platform Agreement, along with the Privacy Policy, Fee Schedule, and any applicable operating rules, forms a binding contract between Binrora (“we”, “us”, or “our”) and you (referred to as “User”, “you”, or “your”). By registering for an account or using any of our virtual card services, you acknowledge that you have read, understood, and agree to be bound by this Agreement.

1. Acceptance of Terms

By registering an account, accessing the Binrora dashboard, using our API, or downloading our mobile application, you agree to comply with and be bound by these Terms of Service.

Eligibility: To use our services, you must be at least 18 years of age (or the legal age of majority in your jurisdiction) and have the full legal capacity to enter into a binding contract. If you are entering into this Agreement on behalf of a company, partnership, or other legal entity, you represent and warrant that you have the authority to bind such entity to these terms.

We reserve the right, at our sole discretion, to modify, update, or replace these terms at any time. If a revision is material, we will make reasonable efforts to provide at least 30 days’ notice prior to any new terms taking effect. Continued use of the platform after changes are posted constitutes your acceptance of the revised Terms of Service.

2. Description of Services

Binrora provides payment wallet and virtual card issuance services. The services include:

• Electronic Money Wallet: Creating and maintaining a secure digital balance in supported fiat currencies or compliant stablecoins.
• Virtual Card Issuance: Generating instant virtual payment cards for online purchases, digital subscription management, software billing, and transaction processing.
• Funding Rails: Enabling deposits and loading via bank transfers (SEPA, ACH, Wire, Swift), credit/debit cards, or compliant stablecoin transfers.
• Spend Management Controls: Providing dashboards, APIs, and mobile apps to configure transaction limits, set billing category blocks, freeze cards, and monitor spending analytics.

3. Account Verification

To comply with international financial guidelines and regional electronic money regulations, we must verify your identity. During registration and periodically thereafter, you may be required to provide accurate and complete verification details, including:

1. Identity Verification: Full legal name, date of birth, nationality, and a clear photo of a valid government-issued ID (e.g., passport, national identity card, or driver’s license).
2. Biometric Matching: A live selfie or face scan matching your identity document to prevent identity theft.
3. Address Verification: A utility bill, bank statement, or official document showing your address dated within the last 90 days.
4. Entity Information: For business entities or sole traders, registration documentation, active tax identification numbers, or structure verification if registering on behalf of an organization.
5. Source of Funds: General information or documentation confirming the legal source of your wallet deposits (such as bank statements or income records).

4. AML & CTF Compliance

Binrora maintains strict Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) protocols. We perform continuous transaction monitoring and audits to detect suspicious activity, fraud, and violations of economic sanctions.

You agree and acknowledge that:

• We screen all users (including directors and beneficial owners where applicable) against international sanctions lists, including OFAC, the EU Consolidated List, and UN Sanctions Lists.
• We monitor transaction flows for money laundering indicators, structuring, rapid asset movement, card-testing fraud, or other unauthorized transactions.
• We reserve the absolute right to temporarily freeze account access, decline wallet loading, block specific card transactions, or terminate the entire agreement immediately if we suspect money laundering or terrorist financing.
• If requested, you must promptly provide documentation verifying the source of your funds. Failure to do so will result in account suspension.
• To prevent money laundering, funds deposited/loaded into your wallet do not support withdrawals or transfers through other methods or alternative channels; any payout or return of funds must be processed strictly back to the original source account and funding method.

5. Fund Safety & Custody Disclaimers

As a technology service provider, Binrora does not directly custody, hold, or clear your funds. All deposits and balances are held in segregated client safeguarding accounts managed by our licensed banking and electronic money institution (EMI) partners.

Your funds are secured as follows:

Asset Type	Custodian Entity	Safeguarding Protection
Fiat Currencies (USD, EUR, GBP)	Partner Clearing Banks (FDIC/FSCS insured partners)	Held in segregated trust and safeguarding accounts, separated from Binrora’s corporate operating cash.
Stablecoins (USDT/USDC)	Regulated Custodial Partners	Automatically converted or cleared via regulated liquidity providers to secure equivalent fiat balances.
Virtual Card Balances	Partner Card Issuing Banks	Prepaid card balances held securely by authorized principal members of Visa/Mastercard.

In the event of a platform insolvency, client funds remain segregated and protected from platform creditors, to be returned by the safeguarding institution.

6. Prohibited Activities & Usage

You may use our platform and virtual cards solely for lawful, authorized purposes. You represent and warrant that your account will not be used in connection with any of the following prohibited activities:

• Purchasing illegal substances, illegal weapons, counterfeit goods, or accessing unlicensed gambling websites.
• Submitting repetitive invalid transactions to test card validity, or executing high-frequency micro-transactions to exploit merchant billing systems.
• Unlicensed money transmission, peer-to-peer currency exchanges, or operating cash-back schemes.
• Using virtual cards to circumvent merchant geo-blocking policies or regional price discrepancies in a fraudulent manner.
• Selling, reselling, or leasing virtual card details or account access to third parties without our explicit written authorization.

7. Virtual Card Rules & Limits

Virtual cards issued through the Binrora dashboard are subject to spending limits (e.g., daily, weekly, or transaction limits). You can configure individual card spending limits via the platform to control cardholder spending.

You agree to the following cardholder policies:

1. Security Responsibilities: You are responsible for keeping your card numbers, CVVs, and authorization tokens secure. Any transaction executed with your virtual card credentials will be considered authorized by you unless reported as unauthorized beforehand.
2. Unauthorized Use: If you suspect card compromise or detect unauthorized charges, you must freeze the card immediately via the dashboard or mobile app and contact support. We are not liable for losses incurred prior to card suspension.
3. Merchant Disputes: If a merchant fails to deliver a product, subscription, or service, you must resolve the dispute directly with the merchant. Chargebacks should only be initiated for clear fraud or unauthorized processing.

8. Fees, Rates & Transactions

The fees for using the Binrora wallet and issuing virtual cards are detailed in the Fee Schedule within your dashboard.

• Issuance Fees: Charged when generating a new virtual card (fees vary depending on card brand or card features).
• Wallet Loading Fees: Applicable when transferring funds into the platform wallet depending on your funding method (e.g., credit card load vs. bank transfer).
• Foreign Exchange (FX) Markup: If you make a purchase in a currency different from your card’s base currency, a standard exchange rate markup will apply.
• Inactivity Fees: If your account remains inactive with no transaction history for more than 12 months, we reserve the right to charge a small monthly maintenance fee to cover administrative costs.

9. Account Suspension & Termination

We reserve the right to suspend or terminate your account, in whole or in part, without prior notice and at our sole discretion, in the event of:

• Any breach of this Agreement or our compliance guidelines.
• Failure to complete periodic identity verification audits, or providing falsified documents.
• Requests from regulatory authorities, law enforcement agencies, or card network operators.
• Unusually high ratios of merchant chargebacks, returned payments, or fraud reports linked to your virtual cards.

Upon termination, any remaining balances in your account (minus outstanding fees and merchant holds) will be returned to your verified bank account, subject to final compliance clearance.

10. Governing Law & Jurisdiction

These Terms of Service and any disputes arising out of or in connection with them shall be governed by, and construed in accordance with, the laws of the country where the Binrora operating entity servicing your region is incorporated.

Any dispute, controversy, or claim arising out of your use of the platform shall be submitted to the non-exclusive jurisdiction of the courts of our country of incorporation, or resolved through binding arbitration in accordance with the rules of the International Chamber of Commerce (ICC) as specified in your agreement.