Version: V1.2 Effective Date: November 10, 2026
This Priority Pay Service Agreement (this "Agreement") is entered into by and between you and Pionex (the "Platform", "we", "us" or "our") and sets out the terms on which we provide the Priority Pay service to you. This Agreement supplements the Pionex User Agreement, the Pionex Card Terms of Service and the Privacy Policy. Matters not addressed in this Agreement shall be governed by those agreements and terms.
Please read this Agreement carefully, in particular the provisions in bold.
1. Definitions
1.1 Priority Pay Service (the "Service"): a payment convenience service under which, when the available balance of your Payment Account is insufficient for a Pionex Card transaction, the Platform, as authorized by you, automatically covers the shortfall first and subsequently transfers funds automatically from your own assets held on the Platform.
1.2 Payment Account: the account you open with the Platform from which Pionex Card transactions are debited.
1.3 Main Account: your spot funds account on the Platform.
1.4 Covered Amount: the amount paid by the Platform on your behalf in respect of a transaction, being the transaction amount (including any transaction fee) less the available balance of your Payment Account at the time of authorization.
1.5 Pending Transfer Amount: the aggregate of all Covered Amounts that have been paid on your behalf but have not yet been transferred from your own assets.
1.6 Transfer: the process of moving your own assets into your Payment Account and applying them against the corresponding Covered Amount.
1.7 Priority Pay Limit: the maximum Pending Transfer Amount set by the Platform for you. Available Coverage = Priority Pay Limit − Pending Transfer Amount.
1.8 Card Issuer: the issuer of the Pionex Card and its partners.
2. Formation and Effectiveness
2.1 The Platform makes the Service available to eligible users. You may use the Service only after you have actively enabled it and agreed to this Agreement on the Service settings page. We will display this Agreement to you on the Service page and the Service settings page.
2.2 By tapping the "Enable" or "Agree" button on the Service page, you are deemed to have read, understood and agreed to all of the terms of this Agreement, including the authorizations in Section 7. If you do not agree, please do not enable the Service. You may disable the Service on the settings page at any time.
3. Nature of the Service
3.1 The Service is a payment convenience service that automatically moves funds between your accounts. It addresses situations where your assets cannot be moved into your Payment Account in time for authorization. The Service does not constitute a loan, credit facility, credit card or any other form of financing.
3.2 Accordingly, in providing the Service, the Platform:
does not assess your creditworthiness and does not report any information to any credit reference agency;
does not charge any interest, service fee or other fee;
does not set any billing cycle or transfer deadline, and automatically effects a Transfer from your own assets immediately after covering a payment; and
covers a payment only when the total value of the available digital assets in your Main Account (including designated wealth management products) is sufficient to cover in full both the Covered Amount for the current transaction and any outstanding Pending Transfer Amount.
3.3 The Service is provided by the Platform and does not alter the rights and obligations between you and the Card Issuer in respect of the Pionex Card.
4. Eligibility, Enabling and Disabling
4.1 The Service is available only to users designated by the Platform. Eligibility criteria are determined by the Platform based on its operational and risk management needs and may change from time to time.
4.2 After an eligible user (whether a new cardholder or an existing cardholder) becomes eligible for the Service, the Service remains disabled by default. The Service will be enabled only after the user actively confirms and agrees to this Agreement on the Service page.
4.3 You may disable the Service on the settings page at any time. After the Service is disabled, the Platform will not cover any new payments. Any Pending Transfer Amount incurred before the Service is disabled will continue to be transferred in accordance with Section 8, and any asset freeze under Section 9 will remain in effect until the Transfer is completed.
4.4 Before closing your Pionex Card or your Platform account, you must complete the Transfer of the entire Pending Transfer Amount.
4.5 The Service is not available to: residents or entities of countries or regions subject to international sanctions or of very high anti-money laundering risk; residents or entities of countries or regions in which the provision of the relevant services is prohibited by local laws and regulations or by the Platform's compliance policies; and users who have not completed identity verification or who are restricted by the Platform's compliance or risk control systems. The restricted countries and regions are as set out in the list updated by the Platform from time to time.
4.6 If you cease to be eligible, the Platform may stop covering new payments for you. Any Pending Transfer Amount already incurred will continue to be transferred in accordance with this Agreement.
5. Priority Pay Limit
5.1 The Platform sets your Priority Pay Limit based on its operational and risk management needs, and displays your Priority Pay Limit, the amount covered and your Available Coverage on the Service page.
5.2 The Platform may adjust your Priority Pay Limit based on business and risk management considerations. A reduction of the Priority Pay Limit will not affect transactions already completed.
6. Eligible and Ineligible Transactions
6.1 The Service applies only when a transaction cannot be completed because the balance of your Payment Account is insufficient, and covers only the shortfall.
6.2 The following transactions are eligible for the Service:
ordinary purchases, including any shortfall in transaction fees;
pre-authorization transactions, such as hotel and car rental bookings; and
incremental authorizations, each of which is treated as a separate new covered payment.
6.3 The following transactions and charges are not eligible for the Service:
ATM cash withdrawals and other cash withdrawal transactions;
quasi-cash transactions, gambling, remittances and money transfers, purchases of digital assets or foreign currencies, and similar transactions;
zero-amount or small-amount card verification authorizations;
charges relating to chargebacks; and
any other transaction types published by the Platform for risk management purposes.
6.4 The Platform identifies transaction types based on the Merchant Category Code (MCC) and other information. As merchant information is provided by the acquirer, the Platform cannot guarantee that such identification is fully accurate.
6.5 Whether the Service applies is also subject to the rules of the Card Issuer and the card scheme, system status and risk control results. The Platform does not guarantee that every transaction with an insufficient balance will be covered.
7. Your Authorizations
While the Service is enabled, and for so long as any Pending Transfer Amount remains outstanding after the Service is disabled, you authorize the Platform to:
7.1 pay the transaction shortfall on your behalf when the balance of your Payment Account is insufficient, so as to complete the transaction;
7.2 transfer available USDT from your Main Account to your Payment Account for settlement and, if the USDT in your Main Account is insufficient, redeem your Arbitrage products for settlement in accordance with your auto-transfer settings or, if you have no such settings, in order of maturity from the nearest to the furthest. You acknowledge and agree that early redemption of Arbitrage or other wealth management products may cause you to lose expected returns, and you shall bear any such loss; and
7.3 if a Covered Amount is not transferred in a timely manner in accordance with Section 8, freeze an equivalent amount of USDT in your Main Account; and, if the USDT in your Main Account is insufficient, freeze other available digital assets of equivalent value, which will be unfrozen and applied at the time of the Transfer. Where digital assets other than USDT are frozen, the Platform may apply a reasonable haircut to their valuation in light of market volatility. If a decline in asset value results in insufficient coverage, the Platform may freeze additional assets dynamically to cover the difference.
7.4 The above authorizations are used solely for the Transfer of Covered Amounts, and the amount transferred shall not exceed the Pending Transfer Amount. Except for the redemption of wealth management assets expressly provided for in Section 7.2, the Platform will not proactively dispose of your other spot assets or interfere with your normal trading strategies or positions. However, upon the occurrence of any abnormal or untransferred circumstance described in Section 8.6 or Section 13.4, the Platform may, in accordance with this Agreement, apply frozen assets at fair market value to settle the Covered Amount in full, without obtaining any further authorization from you.
8. Transfer
8.1 Immediately after a payment is covered, the Platform will perform one automatic Transfer in accordance with Section 7. During the Transfer, funds are first moved into your Payment Account and then applied against the corresponding Covered Amount.
8.2 Automatic Transfers are performed on an "as much as is available" basis. If the full amount cannot be transferred in one attempt, the Platform will automatically retry once a day until the Transfer is completed.
8.3 Until the Pending Transfer Amount has been fully transferred, the Platform may suspend covering new payments for you.
8.4 The Platform will notify you via in-app notification when an automatic Transfer succeeds. No separate notice will be sent if a Transfer fails; you may check the Pending Transfer Amount on the Service page at any time.
8.5 The Platform does not charge you any fee for Transfers. Any reasonable loss that may arise from transfers and redemptions (such as changes in returns due to early redemption of Arbitrage products) will be handled in accordance with the rules of the relevant product.
8.6 The Pending Transfer Amount consists of funds paid by the Platform on your behalf for your transactions, and you shall complete the Transfer using your own assets. If, due to system delays, network failures, extreme market volatility or any other reason, the value of the frozen assets in your account remains insufficient to settle the Pending Transfer Amount for a prolonged period, you are under a legal obligation to make up the shortfall immediately. The Platform reserves the right to recover the shortfall from you. You irrevocably authorize the Platform to take the following measures:
(1) restrict all or part of the functions of your Platform account and any associated accounts;
(2) exercise its right of set-off by debiting funds directly from any account you hold with the Platform, or by applying the digital assets frozen under this Agreement at the Platform's real-time fair market price to complete the Transfer; and
(3) recover any unpaid shortfall, in which case all reasonable costs incurred shall be borne by you in full.
9. Asset Freeze
9.1 The frozen amount is the lesser of the Pending Transfer Amount and the available USDT (or other digital assets of equivalent value) in your Main Account, and will be adjusted in line with changes in the Pending Transfer Amount. The freeze will be released automatically once the Transfer is completed.
9.2 Frozen USDT or other digital assets of equivalent value cannot be withdrawn, transferred or traded. Assets in your Main Account that are not frozen may be used as normal.
9.3 Freeze records will be displayed in the in-app Unfreeze Center, with the freeze reason shown as "Priority Pay – Pending Transfer".
10. Refunds and Authorization Releases
10.1 Where a transaction is refunded, partially refunded or reversed, the refunded funds will be credited in full to your Payment Account balance and will not be automatically applied against the Pending Transfer Amount. The Covered Amount for the original transaction will continue to be transferred in accordance with Section 8. However, if your Main Account has insufficient assets or the Pending Transfer Amount has remained outstanding for a prolonged period, the Platform may transfer the refunded amount directly to your Main Account or apply it directly against the Pending Transfer Amount.
10.2 Where the final amount of a pre-authorization transaction is less than the authorized amount, or the authorization expires without completion, the released amount will first be used to cancel any untransferred Covered Amount for that transaction, and the remainder will be returned to your Payment Account.
10.3 Where the settlement amount exceeds the authorized amount due to exchange rates, tips or other reasons, the difference will be debited in accordance with the existing rules of the Payment Account, and any portion not covered by the available balance will be added to the Covered Amount for that transaction.
11. Risk Control and Security Verification
11.1 The Service applies only to transactions that pass the risk controls of the Platform and the Card Issuer.
11.2 Before each automatic Transfer, the Platform will perform a security check on your account and on the transaction relating to the Covered Amount. If any potential unauthorized use, fraud or other anomaly is detected, the Platform will nevertheless complete the Transfer of that Covered Amount in accordance with Section 8, and will suspend covering new payments for you until verification is completed, in order to reduce any loss you may suffer.
11.3 During verification, the Platform may contact you in-app, by email or through customer support, and you are requested to cooperate by providing information relating to the transaction.
11.4 Outcome of verification:
If the transaction is legitimate: the Service will be restored for you.
If the transaction is confirmed to be unauthorized and not made by you: the Platform will initiate a chargeback in accordance with the rules of the Card Issuer and the card scheme. If the chargeback succeeds, the recovered funds will be returned to your Payment Account. If the chargeback fails, or the Card Issuer determines that the transaction is valid, the Covered Amount, having been transferred in accordance with Section 8, shall be borne by you.
11.5 If verification establishes that a transaction falls into either of the following circumstances, the provisions of Section 11.4 on initiating a chargeback and returning recovered funds shall not apply to that transaction: (1) the transaction was made by you or with your authorization; or (2) although the transaction was made by another person without authorization, it resulted from your intentional misconduct or gross negligence, such as voluntarily providing your card details, verification codes or account passwords to others. In such circumstances, the Covered Amount transferred in accordance with Section 8 shall be borne by you.
11.6 The Platform may, in accordance with anti-money laundering, counter-terrorist financing, sanctions and other legal requirements, compliance needs, or compliance instructions from the Card Issuer, without prior notice, refuse to cover a payment, suspend or terminate the Service, block suspicious transactions, or restrict the functions of relevant accounts as required by law and compliance requirements.
12. Fees
12.1 The Service is free of charge. The Platform does not charge you any interest, service fee or other fee for covering payments, Transfers, freezes or the period during which any Pending Transfer Amount remains outstanding.
12.2 Transaction fees, currency conversion fees and other fees relating to the Pionex Card itself are charged in accordance with the Pionex Card Terms of Service, regardless of whether you use the Service.
12.3 If the Platform intends to charge any fee for the Service in the future, it will notify you 30 days in advance and must obtain your separate consent.
13. Your Obligations and Prohibited Conduct
13.1 You shall ensure that the identity information you provide is true and accurate, and shall keep your card details, account passwords and verification codes secure.
13.2 If you discover that your card has been lost, that your information has been compromised, or that there are any abnormal transactions, you shall immediately freeze your card and contact Platform customer support.
13.3 You shall not use the Service to: obtain cash or conduct fictitious transactions; collude with merchants to conduct non-genuine purchases; abuse the Service through frequent transactions and refunds or otherwise; or engage in any other conduct that violates laws and regulations, sanctions or Platform rules.
13.4 If you breach Section 13.3, the Platform may immediately stop providing the Service and require you to immediately complete the Transfer of the entire Pending Transfer Amount.
14. Suspension and Termination of the Service
14.1 The Platform may suspend or terminate the Service for you in any of the following circumstances: you no longer meet the conditions in Section 4; you breach this Agreement; the Card Issuer, a card scheme or a regulatory authority so requires; system maintenance or force majeure; or the Platform adjusts or discontinues the Service.
14.2 If the Platform discontinues the Service, it will notify you in advance where possible, except where immediate suspension is required for risk control or compliance reasons.
14.3 After the Service is suspended or terminated, any Pending Transfer Amount already incurred will continue to be transferred in accordance with this Agreement, and the authorizations in Section 7 and any freeze under Section 9 will remain in effect until the Transfer is completed.
15. Notices and Records
15.1 The Platform displays on the Service page your Priority Pay Limit, the amount covered, your Available Coverage and a record of each covered payment, including the Covered Amount, Transfer status, Transfer method and the related transaction.
15.2 For transactions using the Service, the Covered Amount for that purchase will be shown in the transaction details. For transfers used for settlement, the transfer records will show the portion applied to settlement.
15.3 The Platform's system records of covered payments, Transfers and freezes shall serve as the basis on which both parties confirm the relevant facts. If you dispute any record, you may contact customer support within 30 days.
16. Limitation of Liability
16.1 To the extent permitted by law, the Platform shall not be liable where the Service does not take effect or a transaction fails for reasons attributable to the Card Issuer, a card scheme, a merchant, an acquirer or any other third party, or due to system maintenance, network failure or force majeure.
16.2 Where the Platform carries out transfers, redemptions or freezes in accordance with this Agreement and your authorizations, you shall bear any resulting adverse consequences, including without limitation changes in returns due to early redemption of Arbitrage products and the inability to trade while assets are frozen.
16.3 Nothing in this Agreement excludes or limits any liability that cannot be excluded or limited by law.
16.4 If your breach of this Agreement, suspected fraud, anti-money laundering violations, abuse of chargebacks, or use of the Service for any illegal or non-compliant activity results in the Platform and/or its partners being subject to any regulatory investigation, administrative penalty, fine, civil litigation or third-party claim, you shall be liable for and shall fully compensate the Platform for its resulting economic losses (including without limitation penalties and deductions and reasonable legal costs).
17. Amendments
17.1 The Platform may amend this Agreement in accordance with laws and regulations, regulatory requirements or business adjustments, and will notify you by in-app announcement or notification at least 7 days before the amendments take effect.
17.2 If you do not agree to the amendments, you may disable the Service. If you keep the Service enabled after the amendments take effect, you are deemed to have accepted the amended Agreement.
18. Governing Law and Dispute Resolution
18.1 This Agreement shall be governed by the laws of England and Wales.
18.2 Any dispute arising out of this Agreement shall first be resolved through friendly negotiation between the parties. If negotiation fails, either party may submit the dispute to the Hong Kong International Arbitration Centre (HKIAC) for final resolution by arbitration under its rules in force at the time. The seat of arbitration shall be Hong Kong, and the language of the arbitration shall be English. The arbitral award shall be final and binding on both parties. The prevailing party shall be entitled to recover from the losing party in full all reasonable legal fees, arbitration fees and related expenses incurred in the arbitration.
19. Miscellaneous
19.1 This Agreement is provided in Chinese, English and other languages. In the event of any inconsistency between language versions, the English version shall prevail.
19.2 If any provision of this Agreement is held to be invalid, the validity of the remaining provisions shall not be affected.
19.3 Headings in this Agreement are for convenience only and shall not affect its interpretation.
19.4 If you have any questions about this Agreement, please contact customer support.