1. Definitions and Terminology

a) Cartera is the entity duly registered in the Philippines and licensed by the Bangko Sentral ng Pilipinas (BSP) to issue electronic money and operate an e-wallet service 

b) Cartera Wallet refers to the mobile-based payment service issued by Cartera, which enables users to store funds electronically and perform financial transactions. 

c) Wallet Account is the account created by the User on the Cartera platform and stored on Cartera's secure servers 

d) Balance means the amount of money stored in a User’s Cartera Wallet, which can be used for payments, transfers, or withdrawals.

e) Merchant refers to any business entity or individual accepting payments using the Cartera Wallet.

f) User refers to the individual who has registered and uses the Cartera Wallet.

g) Mobile Number is the mobile phone number linked to the User’s Cartera Wallet account

h) Device refers to a smartphone or tablet that supports the Cartera mobile application.

(i) PIN (Personal Identification Number) is a confidential code set by the User for secure access to the Cartera Wallet.

j) Virtual Account (VA) is a unique identifier provided by a partner bank for the purpose of top-up or fund transfers.

k) Bank Account (BA) is a traditional bank account used for linking, topping up, or withdrawing funds from the Cartera Wallet.

l) VA to BA means transferring funds from the Cartera Wallet to a linked Bank Account, subject to applicable fees.

m) Transaction includes any activity performed via the Cartera Wallet, such as top-up, payments, fund transfers, and withdrawals.

n) Top-up is the process of adding money to the Cartera Wallet.

2. Cartera Services

a) Cartera is an electronic money (e-money) product, functioning like physical cash but not classified as a bank deposit. It does not earn interest and is not insured by the Philippine Deposit Insurance Corporation (PDIC).

b) A User’s Cartera Wallet is linked to their registered mobile number. Each number can only be linked to one account.

c) Available Services:

• Top-up (Cash In)
  
• Peer-to-peer transfers
• Withdrawals (Cash Out)
• QR or merchant payments
• Bill payments
• Loyalty points (feature under development)

3. Use of Cartera

a) Top-ups can be done via partner banks, mobile banking apps, e-wallet integrations, or over-the-counter partners.

b) Wallet Balance Limits:

• Non-upgraded users: PHP 20,000 maximum balance
• Upgraded users (fully verified): PHP 100,000

c) Monthly top-up and transaction limits follow BSP Circular No. 1049 and any subsequent guidelines.

d) Sufficient balance is required for all transactions.

e) Withdrawals and Transfers:

• Only allowed for fully verified (upgraded) accounts
• Subject to transaction limits and applicable service fees

f) Users are solely responsible for all wallet activity. Cartera will not refund losses due to account compromise, negligence, or unauthorized use.

g) Transaction records are stored electronically. In case of discrepancies, Cartera’s server logs shall prevail.

h) Lost SIM or device: Users must notify Cartera immediately for account blocking. Balance recovery may be processed after identity verification.

i) Refund requests must be submitted within 7 calendar days from the transaction date with complete documentation.

j) Cartera may reject transactions that violate applicable terms, are suspicious, or potentially fraudulent.

4. User Responsibilities

a) Users are responsible for maintaining the security of their mobile device, SIM, and login credentials (PIN, OTP, biometrics).

b) Sharing or disclosing account information (e.g., PIN, OTP) is strictly prohibited.

c) Users are liable for any errors during transactions (e.g., incorrect recipient or amount).

d) Information provided during registration must be accurate and kept updated.

e) Users agree to comply with the rules of Cartera and all applicable Philippine laws and regulations.

f) Users shall hold Cartera free from liability for damages due to negligence, fraud, or misuse of the account.

5. Account Blocking and Termination

a) Cartera may block, suspend, or terminate Wallet Accounts upon:

• User’s request
• Detection of fraud or suspicious activity
• Order by regulatory/government authorities
• Multiple incorrect PIN attempts
  

b) Account blocking is also applicable upon loss of device or SIM. Transactions before reporting will remain the User’s responsibility.

c) Accounts may be unblocked after successful identity verification.

d) Upon termination, any remaining balance will be refunded to the User, subject to deductions for outstanding charges.

e) Users waive any claims arising from blocking or termination due to violation of terms or lawful orders.

6. Limitation of Liability

a) Cartera is not liable for indirect, incidental, or consequential losses, including but not limited to loss of profits or opportunity.

b) Cartera’s liability for proven direct damages is limited to the transaction amount in question.

c) Cartera shall not be held liable for service failures due to:

• Force majeure (e.g., natural disasters, power outages, government orders)
• External disruptions or technical failures beyond Cartera’s control
• Third-party service providers

7. Customer Support

a) Users may contact Cartera for inquiries or complaints via:

• Email: support@cartera.ph

b) Verification of the User's identity will be required before investigating complaints.

c) Cartera will investigate and resolve issues within 15 working days, in line with its internal complaint handling procedures.

8. Governing Law and Dispute Resolution

a) These Terms and Conditions shall be governed by and interpreted in accordance with the laws of the Republic of the Philippines.

b) Any unresolved disputes shall be settled through arbitration under the rules of the Philippine Dispute Resolution Center, Inc. (PDRCI) or another competent arbitration body.

9. Miscellaneous

a) Cartera treats all authenticated instructions (via PIN, OTP, biometrics) as valid and binding.

b) Users agree to the collection, use, processing, and sharing of their personal data in accordance with the Data Privacy Act of 2012 and Cartera’s Privacy Policy.

c) Cartera may provide marketing communications or promotional content to users.

d) Cartera reserves the right to amend these Terms at any time.

e) Users will be notified via the app or registered communication channels.

f) Unregulated matters in this document shall be handled based on Cartera’s internal policies and operational procedures.

g) Users agree not to contest digital or electronic records (system logs, SMS, emails) as valid and legal evidence.

h) Use of Cartera services signifies full acceptance of these Terms.

BY REGISTERING FOR OR USING THE CARTERA WALLET, THE USER AGREES TO AND IS BOUND BY THESE TERMS AND CONDITIONS.