IMPORTANT CHANGES TO YOUR PAYONEER PREPAID MASTERCARD® CARD TERMS AND

CONDITIONS

Dear Valued Customer,

Some changes are being made to the terms and conditions of your Payoneer Prepaid MasterCard®
card, issued by Wirecard Card Solution Limited (“Card”), mainly in accordance with the requirements
under the European Second Payment Services Directive (PSD2), which govern the Card services
provided to you. The updated terms and conditions will come into effect on January 13, 2018. Please
review them carefully.

Following is a summary of the key changes.

1. Execution of Payment Transactions

Your payment transactions using the Card will be executed by the end of the business day
following the time of receipt of the relevant payment order, subject to certain exceptions as
detailed in the terms and conditions.

2. Unauthorized Transaction

You may not stop payment on purchase transactions originated by you, unless you notify us
without undue delay on becoming aware of an unauthorized or incorrectly executed payment
transaction and in any event no later than thirteen (13) months after the debit date.

3. Payment Transactions for Unknown Amounts

For payment transactions where you do not know the exact amount of the payment transaction
at the time you authorize it, funds on your Card will not be blocked unless you authorize the
exact amount to be blocked. This could be the case for payments you make at hotels or at fuel
stations, for example.

Blocked funds shall be released without undue delay as soon as we are aware of the exact
amount of the payment transaction and immediately after receipt of the relevant payment order.

4. Refunds

You may claim a refund on purchase transactions originated by you only in such cases where
you notify us without undue delay on becoming aware of an unauthorized or incorrectly executed
payment transaction and in any event no later than thirteen (13) months after the debit date.

If you are entitled to a refund, subject to specific conditions indicated in the terms and conditions,
the refunded amount will be credited to your Card immediately and in any event no later than
the end of the following business day after the amount has been credited to our account.

5. Liability for Unauthorised Transactions

You will only be liable for a maximum of £35 (or the equivalent in the currency of your Card) up
until the time you inform us that your Card has been lost or stolen, unless you have acted
fraudulently or with intent or gross negligence. You will not be liable for any losses which occur
on your Card after you have informed us that it has been lost or stolen.

6. Communication

Enhanced means of communication for us to communicate with you are detailed in the updated
terms and conditions.
7. Third Party Providers

PSD2 introduces new kinds of Third Party Providers (TPP) that can access information on your
account, combine and display information about your account with information from accounts
you have with other payment service providers, and, if applicable, make payments for you from
your account, provided the TPP is authorized by the Financial Conduct Authority (FCA) or
another European regulator and you have given your explicit consent to the TPP.

If you are thinking of using a TPP, it is important you check with the regulator whether it is
authorized before you use it and note the relevant provisions in the terms and conditions.

This change will not affect any customers who do not use TPPs.

8. “Send Payment Service” and “Card to Bank Service”

After January 13, 2018, these services will be provided to you by Payoneer under separate
terms and conditions that will be delivered to you in advance of such date.

9. Non-Consumer Entities

Certain provisions of the updated terms and conditions shall not apply or apply differently if you
are not a consumer, micro-enterprise (entity engaged in an economic activity which employs
fewer than 10 persons and whose annual turnover and/or annual balance sheet does not
exceed €2 million) or charity (for purposes of the UK Payment Services Regulations 2017).
Examples of such provisions are the notice period regarding a change in the fees or the terms
and conditions, and your liability for unauthorized transactions with your Card.