Security, Privacy, and Risks

The Pera Card is in its Beta Phase and is currently available in selected countries

We are actively expanding our services. Stay tuned for further updates as we plan to extend the availability of the Pera Card globally.

Thank you for your patience and continued support.

Security

It is important to safeguard your Card details, your PIN, and any other passwords or equipment required for Card operation (i.e. your mobile device). Failure to do so may result in liability for unauthorized transactions and other amounts.

Reporting Suspicious Activity

If you notice suspicious activity on your card, you should immediately:
Report to Immersve
Cancel your card

Reporting a Stolen Card

If you believe your card details have been stolen, you should immediately:
Report to Immersve
Cancel your card

Privacy

As the Pera Card serves as a bridge between DeFi and traditional finance, it is necessary to complete Know Your Customer (KYC) verification through Immserve when setting up your Pera Card.

Immersve will handle all information provided to them in accordance with their Privacy Policy.

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---###### Counterparty Risk
As the holder of the Card, you are relying on Immersve to fulfill its obligations. If Immersve fails to fulfill its obligations, your Available Balance may not be accessible.

Smart Contract Account Risk

The Available Balance on your Card is held in a Smart Contract Account that operates on a blockchain. Any technical issues, coding errors, or vulnerabilities in the smart contracts can lead to malfunctions or incorrect execution of transactions. Network congestion, delays, or outages can impact your ability to access or use the funds in the Smart Contract Account. Any issues with the blockchain network, such as attacks, forks, or regulatory changes, could compromise the integrity and availability of funds held in the Available Balance.

Fluctuation Risks

Market fluctuations can cause variations in the value of USDC relative to the denominated currency, impacting the amount of USDC required for transactions.
The amount of USDC used to make a payment may not be the same as the amount returned in the event of a refund or recall.

Service Availability

There is a risk that point-of-sale services may be unavailable for a period due to technology and communication issues. The Card cannot be used for non-electronic or offline transactions.

Use and Access to the Card

If you do not have access to a smartphone or internet, you will be unable to access the Card. This means you will be unable to transact on the Card during this time, which may cause you to suffer a loss or other inconvenience.

Card Expiry

The Card has a 5-year expiry date and cannot be used after expiration. If the Card expires, and you still have an Available Balance, you should either request a new card or withdraw the Available Balance to your Web3 Wallet.

Pre-authorization

Certain businesses (e.g. hotels, cruise lines and car rental companies) may pre-authorize an estimated cost, temporarily making those funds unavailable for up to 30 days. Only the final bill amount will be deducted from the Available Balance. You may need to contact the merchant to remove the pre-authorization if you need access to those funds sooner.

Operational Risk

The Card is subject to Anti-Money Laundering and Counter-Terrorism Financing laws. Immersve is required to screen transactions under these laws. There is a risk that a transaction may be delayed or cancelled due to the processes or systems that Immersve has in place for these screening purposes.

Card Suspension and/or Termination

Immersve may suspend or cancel your Card in certain circumstances including where fraud is suspected, if there is a risk associated with your Card or
where you have breached our Terms and Conditions.

No Cooling Off

There are no cooling off rights in relation to the Card.

Taxation Risks

Using USDC to make payments may be subject to capital gains and other taxes. It is your responsibility to account and remit any taxes which arise from those transactions to the relevant taxation authorities.

Negative Balance Risk

In some cases, your Available Balance may become negative due to offline transactions or incurred fees. You are liable for any resulting negative balance and related recovery costs. Loaded value will first be applied to recover any negative balance.

USDC Risks

The Available Balance on the Card is solely comprised of USDC. We are not the issuer or otherwise affiliated with USDC or its issuer, Circle Internet Financial, LLC.We do not warrant the legality of using USDC in any specific jurisdiction. While USDC is intended to maintain a 1:1 peg with USD, there is a risk that it may not maintain this peg. Market conditions, regulatory changes, and other factors may cause USDC to deviate from its intended value.

Smart Contract Fees

Any fees incurred when interacting with the Smart Contract Account, such as gas and network fees, are your responsibility. These fees are in addition to the fees and charges payable to Immersve and may vary depending on network conditions and other factors.

Currency Conversion Risks

Transactions in currencies other than US dollars incur a Currency Conversion Fee.

Unauthorized Transactions

There is a risk of unauthorized transactions occurring on the Card. You will be liable for any unauthorized transactions made until you notify us in accordance with the General Terms of Use.

Lack of Interest

The Available Balance does not earn interest.

Access to the Available Balance

The Available Balance is not readily accessible other than for the purposes of being used to fund transactions made with the Card. You may request the withdrawal of USDC from the
Available Balance to your Pera Wallet. However, withdrawals are not guaranteed to be immediate and may be subject to delays and additional verification.

Financial Claims Scheme

The Financial Claims Scheme does not apply to the Available Balance accessible through your Card.

Discretionary Powers

Under the Immersve General Terms of Use (which incorporate the Card Terms), Immserve has a number of discretionary powers which may affect you. You should ensure that you understand these discretionary powers by reading the General Terms of Use.

Please note: This is a summary of key risks and may not cover all potential issues associated with the Pera Card. For complete details, please refer to the Immersve’s General Terms of Use

Updated on: 14/05/2025