Card Terms & Conditions

Virtual Card

A virtual card exists only in digital form. It has a unique 16-digit card number, CVV, and expiry date that can be used for online purchases, digital payments, and contactless payments via your mobile device. Virtual cards are issued instantly upon request in the Olympus Pay app.

Physical Card

A physical card is a standard payment card delivered to your registered business address. It can be used at physical point-of-sale terminals, ATMs, and online. Physical cards are typically delivered within 7–14 business days in Botswana.

Team Member Cards

Business Account holders may issue additional cards to authorised team members. Each team member card is linked to the main business account and governed by these Card Terms. Account Administrators are responsible for the use of all team member cards.

Virtual Card Activation

Virtual cards are issued and activated immediately at no cost. Card details are accessible in the Olympus Pay app under Cards. You must never share your virtual card number, CVV, or expiry date except when making a legitimate authorised payment.

Physical Card Activation

Your physical card must be activated before first use. To activate, follow the steps in the Olympus Pay app under Cards › Activate Card. Physical cards require PIN creation on first use at a chip-and-PIN terminal.

PIN

Your card PIN must be kept strictly confidential. Never write your PIN down, share it with anyone, or allow another person to observe you entering it. If you believe your PIN has been compromised, change it immediately in the app or contact us at security@olympuspay.co.

Contactless Payments

Contactless payments are enabled by default up to BWP 500 per transaction. You can adjust your contactless limit or disable contactless in the app under Cards › Settings. Larger amounts will require chip-and-PIN authentication.

Virtual Card

Issuance: Free Monthly fee: Free Replacement: BWP 30

Physical Card

Issuance: BWP 120 (includes standard delivery within Botswana) Monthly maintenance: Free Replacement (lost, stolen, or damaged): BWP 80

Domestic Card Usage

Local POS purchases: Free Contactless and chip payments: Free Local ATM withdrawal: BWP 10 per withdrawal + ATM operator charges

International Card Usage

International ATM withdrawal: BWP 45 per withdrawal + 2.5% FX markup + ATM operator charges Foreign currency POS (in-store or online): 2.5% FX markup The full cost is always shown before you confirm any card transaction.

Sandbox Transaction Limit

Maximum single transaction: BWP 5,000 (set by Bank of Botswana Regulatory Sandbox directive) Maximum wallet/account balance: BWP 20,000

Contactless Limit

Contactless payments up to BWP 500 per tap without PIN. Above BWP 500, chip-and-PIN is required.

Future Limits

If the Bank of Botswana revises the sandbox limits, we will update your card limits and notify all customers with at least 30 days' notice.

Unrecognised Transactions

If you see a transaction on your card that you do not recognise, contact us immediately at security@olympuspay.co or through the in-app dispute function. You should report unrecognised transactions as soon as you notice them. Under Botswana consumer protection principles, your liability for unauthorised transactions may be reduced if you report them promptly.

Raising a Dispute

To dispute a transaction, tap the transaction in your Olympus Pay app and select "Dispute this transaction." Provide as much detail as possible about why you are disputing the charge. We will investigate and respond within 15 business days. For complex cases involving third-party banks or card networks, investigations may take up to 45 business days.

Merchant Disputes

For disputes with merchants (goods not received, service not as described, duplicate charge), we will attempt to recover your funds through the card network chargeback process. Chargebacks must be raised within 120 days of the original transaction date. We cannot guarantee the outcome of chargeback disputes, outcomes depend on the evidence provided and card network rules.

Your Liability

You are not liable for unauthorised card transactions that you report within 24 hours of discovery, provided you have not been negligent (for example, sharing your PIN or card details). If you delay reporting or have been negligent, your liability may be up to BWP 1,000 per incident. In cases of gross negligence or fraud by you, you bear full liability.

Freezing Your Card

You can temporarily freeze your card at any time in the app under Cards › Freeze Card. A frozen card cannot be used for any transactions (including contactless) until you unfreeze it. This is useful if you cannot find your card but are not sure it has been lost or stolen.

Cancelling Your Card

To permanently cancel a card, go to Cards › Cancel Card in the app. Card cancellation is irreversible. If you need a replacement, you can order a new card (fees apply, see our Fees & Charges schedule).

Cancellation by Olympus Pay

We may cancel or suspend your card at any time without prior notice if: we have reasonable grounds to suspect fraud or misuse; your account is in breach of our Terms; we are required to do so by a regulator or law enforcement agency; or your account is closed for any reason.