Updates for the Karatbars Mastercard
Attention Karatbars Affiliates,
In a world where internet fraud is occurring even with government secured entity websites, Karatbars is implementing additional security measures with our global MasterCard© provider to aid in protecting your commissions and online purchases.
As we implement these changes we all may experience a few temporary inconveniences as a more permanent secure system is put into place. Please pay attention to the messages in Newsletter, on ticker tape, and Latest News.
Effective Friday, October 9th, 2015 your Karatbars Prepaid MasterCard© will no longer work for ANY online purchases from ANY merchant. Please note if you have automatic payments being drawn against your Karatbars Prepaid MasterCard© they will no longer process. This also includes all auto purchases set up with Karatbars Prepaid MasterCard©.
Purchases using your own Karatbars Prepaid MasterCard© in your OWN account through the shopping cart are unaffected and will continue to function normally (because of a payment gateway function specific to the Karatbars Prepaid MasterCard© in your own account.)
Karatbars weekly or monthly Auto Exchange payments using any other personal Credit or Debit card will not be affected.
ATM and Point of Sale purchases with your Karatbars Prepaid MasterCard© are not affected with this temporary change.
In order to reduce the impact of the temporary online purchase interruption, Karatbars Prepaid MasterCard© over-the-counter (OTC / QCash) cash advances have been increased to €5000 per day. Until the implementation of the additional security measures is complete, the automatic order of a Karatbars Prepaid MasterCard© due to generation of commission and the option to purchase the Karatbars Prepaid MasterCard© via the back office is disabled.
Affiliates should note the following in addition to the previous compliance guidelines.
We have been made aware that there are many videos/ websites where affiliates are using the verbiage:
1) Karatbars Gold is: "good delivery gold" and/or "LBMA certified gold".
2) Karatbars is "registered with the World Trade Organization (WTO)"
THIS LANGUAGE IS INCORRECT AS WE HAVE EXPLAINED BEFORE AND WILL BE CAUSE FOR TERMINATION OF YOUR ACCOUNT.
Correct information is as follows:
1) The LBMA accredits the refineries who produce our gold. Karatbars is not on the LBMA list as we are not gold refiners. Karatbars acquires the gold from an LBMA accredited refinery and assembles the finished cards. Further information on the LBMA accreditation process, requirements, refineries, etc. may be found on their website at www.lbma.org.uk
Please note the only permitted language when speaking about the LBMA is the following:
"Karatbars minted gold is produced only by LBMA accredited refineries found on the current 'good delivery list'."
2) The World Trade Organization (WTO) consists of member countries with trade agreements. The WTO does not register private businesses or entity's but creates guidelines, rules, agreements, etc. by which international trade is conducted in an organized manner between countries.