GrowPay Personal Mastercard® and GrowPay Business Mastercard – Terms and Conditions

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These Terms and Conditions govern the use of the GrowPay Personal Mastercard® and GrowPay Business Mastercard® (each a “Card”). Please read them carefully and keep a copy for your records. By activating or using your Card, you agree to be bound by these Terms and Conditions.

 

1. Definitions and Key Parties

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• Card means either the GrowPay Personal Mastercard® or GrowPay Business Mastercard® that provides access to your GrowPay Account.

• Cardholder (“You” or “Your”) means the individual to whom a Card is issued and who is authorised to use the Card under these Terms and Conditions.

• Account means your GrowPay account linked to the Card, from which funds are debited for authorised transactions.

• Virtual Card means a digital representation of your Card that securely displays the PAN, CVV, and expiry date within your GrowPay Mobile App.

• Issuer: Banzpay Technology Limited (“Banzpay”), a licensed Financial Service Provider in New Zealand and a Mastercard Principal License Holder, issues the Card.

• Program Manager: GrowPay Limited (“GrowPay”) is the Mastercard® program manager authorised by Banzpay to operate and manage the GrowPay Card Program.

• Scheme Provider: Mastercard International Incorporated (“Mastercard”) provides the card payment network used to process transactions.

• We, Us, or Our means Banzpay and GrowPay collectively, except where context requires one entity to act in its own capacity.

 

2. Agreement and Relationship
 

• These Terms and Conditions form part of your agreement with us, together with the GrowPay Terms of Use (as applicable), available at growpay.io/terms.

• If there is any inconsistency between these Terms and the GrowPay Terms of Use, these Terms prevail in relation to the Card.

• Our Privacy Policy, available at growpay.io/privacy, explains how GrowPay collects, uses, and protects your personal information.

• By activating or using your Card, you confirm that you have read, understood, and accepted all these documents.

 

3. Safeguarding Your Card and PIN
 

3.1 Physical Card
 

Upon receipt of your physical Card:

• Sign the back immediately with a ballpoint pen.

• Set a secure PIN using the GrowPay App before using the Card.

• Keep your PIN confidential, unique, and memorised.

• Never share or record your PIN or Card details.

If you enter the wrong PIN three (3) times at an ATM, your Card will be retained and suspended. A replacement Card may be issued for a NZD $10 fee.

Keep your contact details (phone, address, email) up to date via growpay.io/contact-us, by calling 0800 566 364, or emailing support@growpay.io.

 

3.2 Virtual Card
 

The GrowPay App may display your Card’s PAN, CVV, and expiry date once issued. You must:

• Only display your Card on devices registered to you.

• Protect access with secure passcodes or biometrics.

• Never share or capture screenshots of your Card details.

• Remove your GrowPay account from any device before disposal or transfer.

Failure to comply with these requirements may make you liable for any resulting unauthorised transactions.

 

4. Using Your Card
 

4.1 Transactions
 

Your Card can be used at any merchant or ATM displaying the Mastercard® logo.
When you authorise a transaction (physical, contactless, or online), you instruct GrowPay to debit your Account for that amount and pay it to the merchant. Transactions cannot be stopped or reversed once authorised.

Transactions are generally processed immediately, but timing may vary due to network or system factors.

 

4.2 Remote or Online Transactions

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Remote transactions (mail, phone, or online) are authorised when you provide Card details.
If you authorise recurring or subscription payments, the merchant may debit your Account without further approval. You are responsible for managing or cancelling such arrangements directly with the merchant.

Always verify the legitimacy of merchants before providing Card information.

 

4.3 Contactless Transactions
 

You can use contactless functionality for eligible payments. For higher-value transactions, a PIN or signature may be required.

 

5. Access and Availability
 

Access to your Card may occasionally be unavailable due to network, Mastercard®, Banzpay, or GrowPay system outages. We use industry-standard measures to minimise such disruptions but do not guarantee continuous access.
 

6. Foreign and Overseas Transactions

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Mastercard will convert foreign currency transactions to New Zealand dollars using exchange rates set by Mastercard on the processing date.
 

GrowPay charges an International Transaction Fee of 2.5% on the NZD value of each overseas or foreign-currency transaction (including ATM withdrawals).
 

Overseas ATMs or banks may apply additional fees.
 

To prevent fraud blocking, notify us at 0800 566 364 or support@growpay.io before travelling abroad.

 

7. Authorisations and Debit Holds
 

Some merchants (e.g. hotels, rental companies) may pre-authorise transactions for up to 7 days, temporarily reducing your available funds. This is standard practice and released once final payment is processed.

 

8. Liability for Transactions
 

You are responsible for all authorised transactions, including:
 

• cash withdrawals,

• EFTPOS and online transactions, and

• transactions by others who gain access through your negligence.
   

If another person uses your Virtual Card due to your failure to secure your device, you will be treated as having authorised those transactions.
 

If a payment exceeds your available balance, you must immediately repay the shortfall.

 

9. Lost, Stolen, or Compromised Cards
 

You are protected under Mastercard’s Zero Liability Policy, provided you:

• have taken reasonable care to protect your Card, and

• promptly notify GrowPay of loss, theft, or misuse.

After notification, you are not liable for unauthorised use unless you acted fraudulently or negligently.

Contact 0800 566 364 immediately if:

• your Card or device is lost/stolen,

• your Card details are used without permission, or

• your device or SIM is compromised.

Replacement Cards may incur a NZD $10 fee.

 

10. Disputes and Chargebacks
 

If you believe a transaction is unauthorised or incorrect, first contact the merchant.

If unresolved, you may lodge a dispute with GrowPay within 90 days of the transaction date.
 

We will provide a Notice of Disputed Transaction form. A $50 fee applies per dispute, waived if fraud is confirmed and not caused by your actions.
 

Chargeback rights are governed by Mastercard Rules.

 

11. Damaged or Faulty Cards
 

Return any damaged or faulty Card to GrowPay for replacement.

A replacement fee may apply unless the defect is due to manufacturing or system error.

 

12. Blocking, Suspension, and Closure
 

GrowPay may suspend, block, or cancel your Card or Account without notice if:
 

• we detect fraud, money laundering, or security breaches;

• required by Mastercard, regulators, or law;

• you breach these Terms or fail verification requirements.
   

Once resolved, GrowPay may reinstate access at its discretion.
 

You may close your Account at any time by notifying GrowPay and returning or destroying your Card.

 

13. Expiry
 

Your Card expires on the date shown.

Your replacement Card will be issued to the address GrowPay holds against your account if your details are current.

 

14. Fees
 

You agree to pay all applicable fees and charges related to your Card use, which GrowPay may debit from your Account.
There may be charges on International transactions, Merchants or ATM providers may independently apply surcharges for Card payments, these charges will be passed through to your account.

 

15. Liability of Banzpay and GrowPay
 

Neither Banzpay nor GrowPay is liable for:
 

• refusal of Card acceptance by merchants or ATMs;

• service outages or communication failures;

• goods or services purchased using the Card; or

• unauthorised use resulting from your negligence.
   

Except as required by law, neither entity is responsible for indirect or consequential losses.

 

16. Changes to Terms
 

We may vary these Terms at any time. Notice will be provided via email, SMS, the GrowPay App, or the GrowPay website.
Continued use of your Card after the effective date constitutes acceptance of the revised Terms.

 

17. Enforceability

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If any part of these Terms is found invalid or unenforceable, the remaining provisions will continue in full effect.

 

18. Trademark Notice

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Mastercard and the Mastercard Symbol are registered trademarks of Mastercard International Incorporated.

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