Terms & Conditions

Last updated on 17 Dec 2020


  1. Terms of Use
  2. Acceptable Use Policy
  3. Debit Account
  4. Debit Card
  5. Aspire Card Promotions
  6. Cross-Border Payment Services
  7. Direct Debit

1 Terms of Use

The following Terms of Use shall apply to your use of the website https://sg.aspireapp.com (the “Website”) and Aspire mobile application (the “Application”) and the services provided on them (the “Platform”).

The Platform is maintained and operated by Aspire Financial Technologies Pte. Ltd. (the “Company”). References to Aspire in this Terms of Use refers to the Company.


1.1.1 Aspire owns and operates this Platform and our sub -domains.

1.1.2 Your use of this Platform is subject to these Terms of Use. By using the Platform, you are deemed to have accepted and agree to be bound by these Terms of Use. We may make changes to these Terms of Use from time to time. We may notify you of such changes by any reasonable means, including by posting the revised version of these Terms of Use on the Platform. Your use of the Platform following changes to these Terms of Use will constitute your acceptance of those changes.


1.2.1 You affirm that you are either more than 18 years of age, or possess legal parental or guardian consent, and are fully able and competent to enter into the terms, conditions, obligations, affirmations, representations, and warranties set forth in these Terms of Use, and to abide by and comply with these Terms of Use.


1.3.1 You are responsible for all access to the Platform using your credentials. All instructions, actions or notifications carried out or communicated by you via the Platform shall be deemed to be yours, even if the access is by another person.

1.3.2 You may set up multi-user access for your account on the Platform using a letter of authorisation (the “Letter of Authorisation”) and/or amend the access rights of any user for your account, in each case, by completing and submitting to us a Letter of Authorisation.

1.3.3 Where a Letter of Authorisation is provided to us in relation to your account on the Platform, which appears with reasonable care and diligence, to have been validly completed by you and provided to us, we will process such Letter of Authorisation without any further duty of verification and absent any manifest error, will consider any such Letter of Authorisation to have been correctly and validly issued by you, or your authorised user.

1.3.4 We will use reasonable efforts to ensure that the Platform is available at all times. However, we cannot guarantee that the Platform or any individual function or feature of the Platform will always be available and/or error free. The Platform may be unavailable during periods when we are implementing upgrades or carrying our essential maintenance on the Platform.


1.4.1 We make no promise that the materials on the Platform are appropriate or available for use in location outside Singapore. Accessing the Platform from territories where its contents are illegal or unlawful is prohibited. If you choose to access the Platform from elsewhere, you do so on your own initiative and are responsible for compliance with local laws.


1.5.1 Your permission to use the Platform is personal to you and non-transferable. Your use of the Platform is conditional on your compliance with the rules of conduct set forth in these Terms of Use and you agree that you will not: Use the Platform for any fraudulent or unlawful purpose; Use the Platform to defame, abuse, harass, stalk, threaten or otherwise violate the rights of others, including without limitation others’ privacy rights or rights of publicity; Impersonate any person or entity, false state or otherwise misrepresent your affiliation with any person or entity in connection with the Platform or express or imply that we endorse any statement you make; Interfere with or disrupt the operation of the Platform or the servers or networks used to make the Platform available or violate any requirements, procedures, policies or regulations of such networks; Transmit or otherwise make available in connection with the Platform any virus, worm or other computer code that is harmful or invasive or may or is intended to damage the operation of, or to monitor the use of, any hardware, software, or equipment; Reproduce, duplicate, copy, sell, resell or otherwise exploit for any commercial purposes, any portion of, use of, or access to the Platform; Modify, adapt, translate, reverse engineer, decompile or disassemble any portion of the  Platform. If you wish to reverse engineer any part of the Platform to create an interoperable program you must contact us and we may provide interface data subject to verification of your identity and other information; Remove any copyright, trade mark or other proprietary rights notice from the Platform or materials originating from the Platform; Frame or mirror any part of the Platform without our express prior written consent; Create a database by systematically downloading and storing Platform content; Use any manual or automatic device in any way to gather Platform content or reproduce or circumvent the navigational structure or presentation of the Platform without our express prior written consent. Notwithstanding the foregoing, we grant the operators of public online search engines limited permission to use search retrieval applications to reproduce materials from the Platform for the sole purpose of and solely to the extent necessary for creating publicly available searchable indices of such materials solely in connection with each operator's public online search service.

1.5.2 We reserve the right to revoke these exceptions either generally or in specific instances.


1.6.1 The Platform may provide links to other websites and online resources. We are not responsible for and do not endorse such external sites or resources. Your use of third party websites and resources is at your own risk.

1.6.2 You may create a link to this Platform, provided that: The link is fair and legal and is presented in a way that is: Not misleading or could suggest any type of association, approval or endorsement by us that does not exist, or (ii) Not harmful to our reputation or the reputation of any of our affiliates; You retain the legal right and technical ability to immediately remove the link at any time, following a request by us to do so.

1.6.3 We reserve the right to require you to immediately remove any link to the Platform at any time and you shall immediately comply with any request by us to remove any such link.


1.7.1 The intellectual property rights in the Platform and all of the text, pictures, videos, graphics, user interfaces, visual interfaces, trademarks, logos, applications, programs, computer code and other content made available on it are owned by us and our licensors. You may not print or otherwise make copies of any such content without our express prior permission.


1.8.1 We provide the Platform on an “as is” basis and make no representations as to the quality, completeness or accuracy of any content made available on the Platform. To the maximum extent permitted by law, we expressly exclude: a) All conditions, warranties and other terms that might otherwise by implied by law into these Terms of Use; and b) Any and all liability to you, whether arising under these Terms of Use or otherwise in connection with your use of the Platform.

1.8.2 The foregoing is a comprehensive limitation of liability that applies to all damages of any kind, including (without limitation) compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss of or damage to property and claims of third parties. Notwithstanding the foregoing, nothing in these Terms of Use is intended to exclude or limit any liability that may not by law be excluded or limited, and in particular none of the exclusions and limitations in this clause are intended to limit any rights you may have as a consumer under Singapore law or statutory rights which may not be excluded, nor in any way to exclude or limit (site owner) liability to you for death or personal injury resulting from our negligence or that of our employees or agents.

1.8.3 Notice for non-Singapore entities: Aspire FT Pte Ltd is currently exempted from holding a licence by the Monetary Authority of Singapore to provide e-money issuance services. Please note that this does not mean you will be able to recover all the money you paid to Aspire FT Pte Ltd if Aspire FT Pte Ltd's business fails.


1.9.1 We may collect and use information about you in accordance with our privacy policy. You can view a copy of this policy by clicking on the Privacy Policy link at the bottom of the Platform.


1.10.1 These Terms of Use are effective until terminated. We may, at any time and for any reason, terminate your access to or use of the Platform. If we terminate your access to the Platform you will not have the right to bring claims against us or our affiliates with respect to such termination. We and our affiliates shall not be liable for any termination of your access to the Platform.


1.11.1 These Terms of Use will be governed by and construed in accordance with the laws of Singapore, and the courts of Singapore will have non-exclusive jurisdiction over any claim or dispute arising under or in connection with these Terms of Use.

2 Acceptable Use Policy

This list reflects the products and services for which Aspire’s services may not be used for, or for which may only be used in circumstances expressly agreed upon in writing by Aspire.

Should Aspire agree to provide its services for a particular product or service, this does not mean that Aspire is providing advice or opinion on the legality of the products or services.


2.1.1 You may not use Aspire services for activities that: violate any law, statute, ordinance, rule or regulation. relate to transactions involving, but not necessarily limited to (a) narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety, (b) drug paraphernalia, (c) cigarettes, (d) items that encourage, promote, facilitate or instruct others to engage in illegal activity, (e) stolen goods including digital and virtual goods, (f) the promotion of hate, violence, racial or other forms of intolerance that is discriminatory or the financial exploitation of a crime, (g) items that are considered obscene, (h) items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction, (i) certain sexually oriented materials or services, including escort agencies / massage parlours / sexual services, adult entertainment websites and content (j) ammunition, firearms, or certain firearm parts or accessories, or (k) certain weapons or knives regulated under applicable law. relate to transactions that (a) show third parties’ personal information in violation of applicable law, (b) support pyramid or ponzi schemes, matrix programs, other multi-level marketing programs or schemes of similar description, (c) are associated with purchases of lottery contracts, off-shore banking or similar transactions, (d) are for the sale of certain items before the seller has control or possession of the item, or (e) involve offering or receiving payments for the purpose of bribery or corruption. involve the sales of products or services identified as likely being fraudulent by the Singapore government. Involve charities and trusts.


2.2.1 Aspire requires pre-approval to accept payments for certain services as detailed below. Please send the contact information, business website link and brief business summary of any activities requiring pre-approval to legal@aspireapp.com for pre-approval purposes. Aspire may withhold or revoke its approval at any time where it finds this to pose a risk to Aspire’s business and/or reputation: Games where participants receive cash or cash equivalents or prizes with/of material value. (e.g. electronics, travel, gift cards etc.); Auctions, Bidding fee auctions (a/k/a penny auctions); Paying fines or penalties of any kind; Charities; Security brokers & Investments of any kind, like purchase of securities, currencies, derivatives, commodities, shares, foreign currencies, options, other financial instruments or precious metals; Products or services related to political or social campaigning; Business service companies, such as payroll services, invoicing services and consumer services; Chain letters; Collection agencies or firms involved in recovering/collecting past due receivables; Credit repair/restoration or card protection (including identity theft protection); Debt consolidation and mortgage reduction/consulting services; Door-to-Door sales; Embassy, Foreign Consulate, or Other Foreign Government; Merchants utilizing tactics to evade Card Brand excessive chargeback monitoring programs; Tobacco & Alcohol product, Businesses selling age or legally restricted products or services (including e-cigarettes); Prescription medicines and pharmaceuticals, including prescription medical devices (like contact lenses); Pseudo pharmaceuticals marketed via-unsubstantiated and/or unlawful health or medical claims; and Services associated with pseudo-science (e.g., clairvoyance, horoscopes, fortune telling, etc.).

3 Debit Account


3.1.1 The parties to these Terms of Use are Aspire FT Pte. Ltd. (hereafter referred to as “Aspire” or “we” or “us”), a private limited company duly established and existing under the laws of the Republic of Singapore with registered office at 1 Syed Alwi Road, #04-04, Singapore 207628, and you, the customer (“Customer” or “you”).

3.1.2 The Customer’s business payment account (the “Business Account”), its use thereof, and related payment services are provided by PayrNet Pte. Ltd., a company incorporated in Singapore (UEN No. 201913150C) with its registered office at 160 Robinson Road #14-04 Singapore 068914 (hereinafter referred to as “PayrNet”).

3.1.3 Our complete terms and conditions governing use of the Business Account are contained here

4 Debit Card


4.1.1 The NIUM corporate debit cards are provided by Aspire FT Pte. Ltd, powered and issued by NIUM Pte. Ltd ("Aspire Cards"). The Aspire Card is a prepaid Visa co-branded corporate card issued by NIUM Pte. Ltd. (formerly known as INSTAREM Pte. Ltd.) ("NIUM"). NIUM is regulated by the Monetary Authority of Singapore under RA No. 01454 and is a major payment institution under the Payment Services Act No. 2 of 2019. Consumer Advisory – Aspire FT Pte. Ltd. is currently exempted by the Monetary Authority of Singapore from holding a payment institution licence to provide payment services under the Payment Services Act (No. 2 of 2019). Aspire FT Pte. Ltd. continues to provide such services pursuant to the Payment Services (Exemption for Specified Period) Regulations 2020. Customers are advised to carefully read the Terms & Conditions before acceptance.

4.1.2 Our complete terms and conditions governing use of the Aspire Card and related services are contained here

5 Aspire Card Promotions


5.1.1 The Aspire Card cashback promotion (the "Cashback Promotion") allows you to earn up to 1% cashback of monies spent by you on online marketing and Software as a Service transactions through your Aspire Card on a monthly basis ("Qualified Spend"). You are entitled to earn up to 1% cashback if you are eligible for the Cashback Promotion and if you have met the relevant qualifying requirements and in accordance with these Terms & Conditions.

5.1.2 This Cashback Promotion is valid until 30 June 2021, or such other period(s) as may be extended or determined by Aspire FT Pte Ltd ("Aspire") in its sole and absolute discretion ("Cashback Promotion Period").


5.2.1 To qualify for the Cashback Promotion ("Eligible Cardmembers"), you must: Apply to open an Aspire Business Payment Account and Aspire Card; Have your Aspire Card approved during the Cashback Promotion Period; Be invited to participate in the Cashback Promotion by Aspire; and Have your Aspire Business Payment Account and Aspire Card in good standing with Aspire during the Cashback Promotion Period.


5.3.1 Eligible Cardmembers are entitled to receive cashback on the quantum of 1% of the Qualified Spend for transactions made on the Aspire Card, on the terms and conditions set out herein.

5.3.2 "Qualifying Spend" means expenses transacted on the Aspire Card that are made at qualifying merchants and which are incurred to purchase online marketing and software as a service* services in order to qualify for the Cashback Promotion. You may refer to the full list of Qualifying Merchants (which Aspire retains the sole and absolute discretion to change from time to time) by accessing the list on Aspire's Website (https://aspireapp.com/sg/)

5.3.3 Payout Cap: Notwithstanding Clause 5 to the Cashback Promotion Terms and Conditions herein, an Eligible Cardmember who has met the maximum Payout Cap on a monthly basis during the Promotion Period may only receive a maximum cashback of up to S$1,000.00 for the relevant month, regardless of the quantum of the Qualified Spend actually incurred. Aspire reserves the right to unilaterally amend the Payout Cap at any time in its sole and absolute discretion and without giving any reasons to you. Aspire will inform customers in good time of any amendments to the Payout Cap.

5.3.4 Cashback earned by you will be credited to your Aspire Business Payment Account following the month that the Qualifying Spend is made.

* Where any doubt exists as to whether a transaction qualifies as "online marketing" and "software as a service" for the purposes of the Cashback Promotion, Aspire shall be the sole and final arbiter of any decision as to the qualification of the transaction and will entertain no other disputes, complaints or disagreements thereto.


5.4.1 Aspire reserves the right at any time without giving any reason or notice to you to deduct, withdraw or cancel any Cashback awarded to you without liability. You will not be entitled to any payment or compensation whatsoever in respect of such deduction, withdrawal or cancellation.

5.4.2 Aspire's decision on all matters relating to the Cashback Promotion shall be final. No correspondence or claims will be entertained.

5.4.3 In the event of any inconsistency between these Terms and Conditions and any brochure, marketing or promotional material relating to the Aspire Business Account, these Terms and Conditions shall prevail.

5.4.4 Aspire may vary these Terms and Conditions or suspend or terminate the Cashback Promotion without any notice or liability to any party.

5.4.5 All Aspire Card cardholders consent under the Personal Data Protection Act (Cap 26, 2012) to the collection, use and disclosure of their personal data by / to Aspire and such other third party as Aspire may reasonably consider necessary for the purpose of the Cashback Promotion.


5.5.1 The Aspire Card referral promotion (the "Referral Promotion") entitles cardholders who successfully refer eligible customers to the Aspire Card (the "Referrer"), and those who are referred (the "Referred Customers") to earn rewards under the Referral Promotion. The Referrer and Referred Customer are each entitled to a referral award of SGD$50.00 if eligible for the Referral Promotion and if the relevant terms set out in these Terms & Conditions are met.

5.5.2 This Referral Promotion is valid until 31st December 2020, or such other period(s) as may be extended or determined by Aspire in its sole and absolute discretion ("Referral Promotion Period").


5.6.1 The Referral Promotion is void where such referral promotions are prohibited by any force of law, regulation or rule where applicable.

5.6.2 To qualify for the Referral Promotion as a Referrer ("Eligible Referrer"), you must: Apply to open an Aspire Business Payment Account and Aspire Card; Have your Aspire Card approved during the Referral Promotion Period; Be invited to participate in the Referral Promotion by Aspire; and Have your Aspire Business Payment Account and Aspire Card in good standing with Aspire during the Referral Promotion Period.

5.6.3 To qualify for the Referral Promotion as a Referred Customer ("Eligible Referred Customer"), you must: Not have had an existing Aspire Business Payment Account and Aspire Card at the time of the referral; Have been validly referred, in good faith, by a Referrer of good standing; Apply for your Aspire Card and have it approved under the Referral Promotion during the Referral Promotion Period; and Make one valid transaction on your Aspire Card after being referred by the Referrer.


5.7.1 The referral reward will be credited to Eligible Referrers and Eligible Referred Customers upon verification by Aspire that a qualified referral has taken place.

5.7.2 Referrers must respect the spirit of the Referral Promotion by refraining from engaging in dishonest practices, including but not limited to creating fake accounts or harassing potential referral sources.


5.8.1 Aspire reserves the right at any time without giving any reason or notice to you to deduct, withdraw or cancel any referral award awarded to you without liability. You will not be entitled to any payment or compensation whatsoever in respect of such deduction, withdrawal or cancellation.

5.8.2 Aspire's decision on all matters relating to the Referral Promotion shall be final. No correspondence or claims will be entertained.

5.8.3 In the event of any inconsistency between these Terms and Conditions and any brochure, marketing or promotional material relating to the Aspire Business Payment Account, these Terms and Conditions shall prevail.

5.8.4 Aspire may vary these Terms and Conditions or suspend or terminate the Referral Promotion without any notice or liability to any party.

5.8.5 All Aspire Card cardholders consent under the Personal Data Protection Act (Cap 26, 2012) to the collection, use and disclosure of their personal data by / to Aspire and such other third party as Aspire may reasonably consider necessary for the purpose of the Referral Promotion.

6 Cross-Border Payment Services


6.1.1 Cross-border payment services are provided by TransferWise Inc. and its various group companies, including amongst others, TransferWise Singapore Pte. Ltd. (together, “TransferWise”). Use of TransferWise’s cross-border payment services are facilitated by Aspire FT Pte. Ltd. (“Aspire”) website portal for your benefit and convenience (“Forex Services”).

6.1.2 The use of the Forex Services by you, in each instance, constitutes your acceptance and agreement to be bound by Transferwise’s terms and conditions, and privacy policy, contained here (https://transferwise.com/terms-and-conditions) or amendments to the foregoing as may be issued by TransferWise, in each case as applicable, from time to time (“TransferWise T&Cs”). Your continued use of the Forex Services after any such changes, whether or not reviewed by you, shall constitute your consent and acceptance of the revised TransferWise T&Cs.

6.1.3 For the avoidance of doubt, Aspire shall not be responsible to you for deficiencies in the provision of TransferWise’s Forex Services or the manner in which these services are provided, and any direct or indirect loss or damage to you suffered as a consequence, save for where such deficiency occurs as a direct result of gross negligence or wilful misconduct on our part.

7 Direct Debit

You hereby acknowledge and confirm that you have read, understood and accepted Aspire’s Business Payment Account Terms & Conditions and Aspire’s Cardholder Terms & Conditions (accessible through Aspire’s website https://aspireapp.com/sg/).


7.1.1 By clicking the checkbox and indicating your acceptance of these Direct Debit Terms & Conditions, you authorise us to arrange for funds to be debited from your Aspire Business Payment Account (“Account”) in accordance with your direct debit instructions and these Direct Debit Terms & Conditions.

7.1.2 You authorise Aspire to debit your Account, notwithstanding that doing so may result in an overdraft or an increase of the overdraft on your account. You undertake not to issue any direct debit instructions that would result in an overdraft on your account.

7.1.3 Aspire is under no obligation to make such payments if your account does not have sufficient funds on the day that the payment(s) is/are due nor to effect overdue payments even though funds are deposited in your account subsequent to the due date for payment(s).

7.1.4 You acknowledge that Aspire shall be entitled to deduct fees and charges from your account for each direct debit payment. Please refer to Aspire’s website for the full list of applicable fees and charges.Aspire reserves the right to revise any fees and/or charges from time to time without prior notice.

7.1.5 You acknowledge that a charge may be levied on each direct debit payment that is rejected due to insufficient funds.

7.1.6 You acknowledge that this authorisation regarding the direct debit shall continue to be in force until expressly revoked by you by clicking the relevant “delete/cancel” fields in the Aspire website to stop the recurring payment(s), it being understood that Aspire may, at its sole discretion, determine this arrangement by giving written notice to you at your address last known to Aspire. You acknowledge that any alteration and cancellation of the direct debit instructions should reach Aspire at least seven (7) days before the next successive payment is due. For all matters relating to the direct debit instructions, including cancellation, alteration or suspension of drawing arrangements or to stop or defer a payment, or to investigate or dispute a previous payment, you should:

(a) Contact us on:

Email: sg@aspireapp.com

Mail: 1 Syed Alwi Road #04-04 Singapore 207628; and

(b) Allow fourteen (14) days for the amendments to take effect or to respond to a dispute. If our investigations show that your Account has been incorrectly debited, we will arrange for your Account to be adjusted accordingly. We will also notify you in writing of the amount by which your Account has been adjusted. If, following investigations, we believe on reasonable grounds that your Account has been correctly debited, we will respond to you by providing reasons and copies of evidence for this finding

It is your responsibility to ensure that sufficient cleared funds are in the Account when the payments are to be drawn.

7.1.7 If the due date for payment falls on a day other than a Business Day, the payment will be processed on the next Business Day. If you are uncertain when the payment will be debited from your Account, please check with Aspire.

7.1.8 You hereby agree to absolve Aspire from any liability whatsoever in respect of any error or omission in the payment(s) to the payee and to indemnify Aspire from and against all claims, demands, losses, actions, proceedings, damages, charges and expenses, including legal costs, on an indemnity basis arising out of Aspire’s acceptance of and actions taken for your authorisation of the direct debit requests.

7.1.9 For returned unpaid transactions, the following procedure applies: Aspire treats the payment as if it was never made; services may be suspended until outstanding charges are paid; and/or a fee may be applied for drawings that are returned unpaid; We may cancel the DDR at any time if drawings are returned unpaid; and/or we may attempt to debit the payment again from your Account.

7.1.10 Customer records and Account details will be kept private and confidential and disclosed only at your request or at the request of any third party financial institutions concerned with the matter in connection with a claim made to correct/investigate an alleged incorrect debit or otherwise as required by law.

7.1.11 If any provision of these Terms & Conditions are found to be illegal or void for any reason (e.g. a court or tribunal declares it so) the remaining provisions of these Terms & Conditions continue to apply to the extent possible.

7.2 DEFINITIONS Account means the account nominated by you for the direct debit, held with PayrNet, from which we are authorised to arrange for funds to be debited; Agreement means the terms and conditions and any schedules to these terms and conditions, as amended from time to time; ‘we’, ‘our’ or ‘us’ means Aspire FT Pte. Ltd.; and ‘you’, ‘your’ or ‘yours’ means the customer/s who agree to terms and conditions and applied for the direct debit product.