World Cash Up Terms

Definitions

“Accelerated Cash Up” means bonus Cash Up earned on the Titanium, Platinum and World Credit Card based on pre-defined Accelerated Spend Categories.

“Accelerated Spend Categories” means a group of Merchant Code Categories (MCC), single or multiple, that are eligible for Accelerated Cash Up, as set out in the Cash Up table. The lists of Spend Categories eligible for Accelerated Cash Up shall be determined by Deem at its sole discretion.

“Customer” means a Deem customer holding a valid and activated Deem Credit Card.

“Cardholder” includes a Deem primary Credit Card customer and a supplementary Credit Card customer.

“Cash Up Program” refers to the loyalty program applicable to Deem Titanium Cash Up Credit Cards, Deem Platinum Cash Up Credit Cards and Deem World Cash Up Credit Cards under which Customer earns Cash Up based on their spend.

“Cash Up” means Cash Up points earned on the Credit Card. All Cash Up earned is maintained in the form of Cash Up. The conversion of Cash Up to AED is: 1 Cash Up point = 1 AED

“Cash Up Earn Rate” means the rate at which Cash Up will accrue to the Customer for every retail transaction as detailed in the Cash Up Table. Deem reserves the right to change the applicable Cash Up Earn Rate at its own discretion.

“Cash Up Table” means a table that details the applicable spend tiers and the Cash Up rate specifically designed for a Titanium Credit Card, Platinum Credit Card and a World Credit Card.

“MCC” means a merchant category code defined by Mastercard to classify transactions. The categorization of an MCC is determined by Mastercard at its sole discretion in accordance with its respective policies and Deem has no involvement in the same.

“Retail Transaction” means a purchase made using the Deem Credit Card by the Customer that excludes cash advances, quasi cash transactions, any refunds, any bank charge reversals, balance transfer transactions, Credit Card payments or any other transaction as determined by Deem from time to time.

“Spend Categories” means a group of MCCs, single or multiple. The list of Spend categories shall be determined by Deem at its sole discretion.

“Sum of Cycle” means the total sum of all purchases done and posted on the Credit Card during a particular Credit Card statement period.

Program

World Cash Up proposition:

Cash Up is earned on Retail Transactions as defined in the World Cash Up table below:

With effect from 1st Jan’2022, the below Cash Up earn structure will apply to all existing and new World Cash Up Credit Cards.

·      All Spends undertaken in Fuel, Transport, Utility Bills, Government Services merchant categories at 0.50%.

·      With effect from 1st Jan’2022, World Cash Up Cardholder can earn a maximum of 750 Accelerated Cash Up points in a statement cycle.

·      With effect from 1st Jan’2022, a minimum cumulative spend of AED 3,000 in a statement cycle is required to earn Accelerated Cash Up. In case, the cumulative spends in a statement cycle is less than AED 3,000 then the customer will earn Cash Up as per the applicable Cash Up Earn Rate for ‘All other Retail Purchases’.

·      Entertainment includes merchants classified by Mastercard as Boat Rentals and Leasing, Sporting and Recreational Camps, Theatrical Producers [except Motion Pictures] and Ticket Agencies, Billiards & Pool Establishments, Bowling Alleys, Tourist Attractions and Exhibits, Public Golf Courses, Video Amusement Game Supply, Video Game Arcades and Establishments, Amusement Parks, Circuses, Carnivals, and Fortune Tellers, Aquarium, Seaquarium, Dolphinariums and Recreation Services.

·      Accelerated Spend Categories for World Cash Up are defined as spends done in Merchant category groups of Airlines, Hotels and Entertainment (as mentioned above).

·      Cash Up rates for Accelerated Spend Categories apply irrespective of whether the transaction in undertaken in the UAE or Overseas.

·      The list of MCC’s that are included in the Cash Up program is at the sole discretion of Deem.

·      Cash Up on the Accelerated Spend Categories is calculated per transaction made and hence each purchase will start earning Cash Up based on:

a. The Accelerated Spend category it belongs to

b. Per Transaction value

The above two factors will decide the spend tier that the purchase falls under and the applicable Cash Up rate.

The descriptions of the spends categories provided in the table are illustrative and not comprehensive. Only Retail transactions made under specific MCCs will be eligible under the Cash Up program.

·      Neither Deem nor Mastercard shall be responsible if a Retail Transaction does not get captured under the appropriate MCC.

·      All “Other Retail Purchases” done and posted up to the billing cycle and reflecting on the Credit Card statement will be summed and the applicable Cash Up rate will be applied as per the World Cash Up table.

·      All Cash Up earned by the Customer will accumulate as Cash upon the primary Cardholder’s account.

Earning

·      Participation to the World Cash Up program is automatic, provided that the World Credit Card account is active and in good standing (including but not limited to the fact that the customer has not failed to make his contractual monthly payments).

·      Transactions on supplementary Credit Card and virtual cards will also earn Cash Up and this Cash Up will accrue to the account of the primary Cardholder.

·      The Cash Up program applies to Retail Transactions only.

·      The amount of Accelerated Cash Up earned will reflect as “Accelerated Cash Up” on Deem rewards portal.

·      The amount of Cash Up earned on all Other Retail Transactions will reflect as “Regular Cash Up” on Deem rewards portal.

·      The Cash Up caps for all Retail Transactions for World Cash Up Credit Card is 20,000 Cash Up points across all spends (Applicable until 31st December’2021). With effect from 1st Jan’2022, World Cash Up Cardholder can earn a maximum of 750 Accelerated Cash Up points in a statement cycle. There is no maximum limit on Cash Up points earned through spends done in non-Accelerated Spend Categories.

·      There is no minimum spend required to earn Cash Up on the World Cash Up Credit Card until 31st Dec’21. With effect from 1st Jan’2022, a minimum cumulative spend of AED 3,000 in a statement cycle is required to earn Accelerated Cash Up. In case, the cumulative spends in a statement cycle is less than AED 3,000 then the customer will earn Cash Up as per the applicable Cash Up Earn Rate for ‘All other Retail Purchases’.

·      With effect from 1st Jan’22, a Customer has to undertake at least one Retail Transaction, for any amount, once in six (6) months, to avoid Cash Up points being forfeited. If a Customer does not make even a single Retail Transaction on the Deem Credit Card for consecutive six (6) statement cycles, all available Cash Up points balance will be forfeited. Such forfeited Cash Up points will not be reinstated if the Customer subsequently resumes spending on Deem Credit Card.

Redemption

Redemption of Cash Up is not automatic. Primary Credit Card holders may use the Deem mobile app or online portal to redeem their Cash Up.

If the Customer requests to redeem the Cash Up for a Cash Up credit on the statement, then the credit will reduce the outstanding balance on the card and add to the Customer’s available credit limit. This credit will not offset any payments due on the card.

If the Customer requests a Cash Up credit on the statement, the credit will reflect on the Customer’s account within five (5) working days from the date of receipt of the redemption request.

If the Customer requests to redeem Cash Up via pay with points, then the Customer will be able to view the credit against the transaction(s) selected in the next monthly Credit Card statement.

If the Customer redeems the reward points for online gift vouchers, then the Customer will receive an email confirmation within two (2) working days, based on the email address shared for the purpose of redemption, of the voucher from the merchant.

All online gift vouchers are available on a best-effort basis through third party merchant establishments who are independent contractors and are neither agents nor employees of Deem. Deem does not accept responsibility for the quality of goods or services provided by the merchant establishments participating in the Cash Up Program. Deem neither offers, nor endorses, nor guarantees any of the goods, services, information or recommendations provided by third party merchant establishments to the Customer and makes no warranties and assumes no liability with respect to the products and services provided by third party merchant establishments. Deem shall not be held responsible in any way for the quality, suitability, fitness, and delays in the provision of the gift vouchers by the third party merchant establishments nor can Deem guarantee the exchange of any of these.

All disputes in this regard shall be taken up directly by the Customer with the participating establishment.

Gift vouchers to be utilized within the validity period only. Re-validation of vouchers will not be possible.

The use of a gift voucher is subject to the terms and conditions stated therein. A gift voucher can only be redeemed once unless otherwise specified on the gift voucher.

Redemption of gift vouchers is subject to availability.

For any change in gift vouchers, products or travel bookings the customer must reach out to the respective third party merchant and Deem shall not be liable for any such change requests.

Deem may provide reward redemption choices of vouchers, good or services issued by participating merchants (Merchants) from time to time at its sole discretion. Deem will not be liable to replace vouchers, goods or services that are lost or destroyed, neither will Deem exchange vouchers, goods or services for any reason whatsoever.

The use of a voucher shall constitute a purchase of goods or services by the person using the voucher from the Merchant supplying such goods or services, and Deem assumes no liability or responsibility whatsoever for the acts or default of the Merchant (including the failure of the Merchant to honour any Voucher) or in respect of the availability and or any defect or deficiency in the goods or services for which any Voucher is redeemed. Deem is not an agent of the Merchant. Any disputes about quality or performance should be resolved directly with the Merchant.

Deem will not be responsible for lost or stolen vouchers redeemed through the Cash Up program.

Redemption orders once given to Deem cannot be cancelled, withdrawn or changed. Redeemed Cash Up are not exchangeable for other Rewards or refundable, replaceable or transferable for cash or credit under any circumstances.

Upon redemption of the Cash Up for any of the available redemption options, the Customers available balance of Cash Up will be subtracted accordingly with the amount requested for redemption.

The Customer cannot transfer Cash Up to another Customer.

Expiry

No expiry for the accumulated Cash Up until 31st Dec’2021

With effect from 1st Jan’22, a Customer has to undertake at least one Retail Transaction, for any amount, once in six (6) months, to avoid Cash Up points being forfeited. If a Customer does not make even a single Retail transaction on the Deem Credit Card for continuous six (6) statement cycles, all available Cash Up points balance will be forfeited. Such forfeited Cash Up points will not be reinstated if the Customer subsequently resumes spending on Deem Credit Card.

In the event of a voluntary closure of the Credit Card by the primary Cardholder, the Customer must redeem all accumulated Cash Up before closure or all accumulated Cash Up will be forfeited.

In the event of card cancellation or if the card is blocked, written off, suspended for any reason whatsoever, all accumulated Cash Up will stand forfeited.

Generic

Cash Up will be offered only for Retail Transactions made on the Deem Cash Up Credit Cards.

Cash Up is not exchangeable, refundable, replaceable or transferable under any circumstances, nor can they be converted to Cash Up accrued.

Cash advances, any fees/charges and disputed transactions will not earn Cash Up.

The Cash Up accrued is redeemable at the discretion of Deem.

Any abuse of or fraud relating to the earning and redemption of Cash Up in the program may result in the cancellation and forfeiture of the Cash Up and may also result in card termination.

Deem reserves the right to suspend, cancel, modify or substitute the Cash Up program conditions or the method of computation of the Cash Up or the Cash Up terms and conditions at any time without prior notice to the Customer.

Deem’s decision on the computation, redemption, cancellation, forfeiture, credit or debit of Cash Up will be final, conclusive and binding on the Customer and will not be liable to be disputed or questioned.

Deem may impose fees on the program or change the conditions of the program at its sole discretion from time to time.

Spend Categories that get included in this program are at the sole discretion of Deem. Spend categories may be increased, decreased or modified as determined from time to time by Deem.

In case of a disputed transaction being resolved in favour of the Customer and/or where a transaction is reversed, the equivalent Cash Up will also be reversed.

By participating in the Deem Cash Up program, you consent to sharing your profile information (restricted to rewards fulfillment/delivery) with any third party partner, agent, merchant establishment. 

All rewards delivery whether products/vouchers will be fulfilled by the said partner, merchant establishment at the registered communication details updated by Deem.

Deem reserves the right to wholly or partially modify the Cash Up program. Deem also reserves the right to change the Cash Up conversion rate, withdraw Cash Up awarded or to alter any of the terms and conditions herein in its absolute discretion and without prior notice to Customers.

In the event that any provision of the Cash Up program conflicts with any rule, regulation or order of any statutory authority, Deem will have the absolute authority and right to modify or cancel the program to remain compliant with the relevant rule, regulation or order.

Information supplied by the Customer on the redemption of certain products/services may be used by Deem or its third party service providers for administrative, research or marketing purposes.

The existence of a dispute, if any, with a third party shall not constitute a claim against Deem.

Any disputes arising out of or in connection with the Cash Up program shall be referred to and be subject to the exclusive jurisdiction of the federal courts of the UAE.

Determination of the eligibility requirements for the issuance of a Deem Credit Card is at the sole discretion of Deem. All features and benefits are subject to the Terms and Conditions available on Deem website.

Valtrans Valet Parking Services

Deem World Credit Card holders are entitled to avail 6 complimentary standard valet parking services each month by presenting their Deem Credit Card in the below locations:

Utilization of standard valet parking service for Platinum and World cardholder is subject to a minimum monthly cumulative Spend of AED 3,000 and AED 6,000 respectively, in the previous billing cycle.

Any Additional valet parking usage (more than 4 and 6 parking services per month, for Platinum and World cardholders respectively) will be a paid service based on Valtrans Standard Valet parking service fee table below.

This will also apply in the event that the customer does not meet the minimum spend criteria.