Instalment Plan Merdeka Double Cashback Promo – Terms & Conditions

The Double Cashback Promo (“Campaign”) is organized by Modalku Ventures Sdn Bhd [201601019329 (1190266X)] (“Funding Societies”) in collaboration with CardUp Malaysia Sdn Bhd 202001004963(1361283-A) (“CardUp”) (collectively referred to as the “Organiser”), and the participation shall be subject to the following terms and conditions:

This Campaign runs from 1 August 2025 to 31 October 2025, both dates inclusive (“Campaign Period”), unless extended or terminated earlier at the sole discretion of the Organiser.

2.1 This Campaign is open to:

● Eligible Sellers: Activated partners based in Malaysia with an approved and active CardUp–Funding Societies Instalment Plan facility; and
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● Eligible Buyers: Businesses or individuals based in Malaysia making payment to Eligible Sellers via Funding Societies CardUp Account Payable Term Financing Instalment Plan during the Campaign Period.
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2.2 Eligible Sellers and Eligible Buyers must comply with the CardUp Terms of Service and Funding Societies General Terms & Conditions, as published on their respective websites.

a) Eligible Sellers will receive tiered rebate (in the form of cashback), as per the schedule below, based on the 6% Funding Societies fees (“FS fee”) for the five (5) approved and disbursed Installment Plan transactions within the Campaign Period.
b) Rebate tier schedule:

● 1st transaction: 15% of FS fee

● 2nd transaction: 25% of FS fee

● 3rd transaction: 50% of FS fee

● 4th transaction: 75% of FS fee

● 5th transaction: 100% of FS fee

c) From the 6th transaction onwards, the rebate calculation will restart under a new cycle. Each cycle consists of five (5) approved and disbursed Installment Plan transactions.
d) Rebate payout will only be applicable if the Eligible Buyer made at least three (3) successful monthly repayments for the corresponding transaction(s).
e) Rebate will be credited to the Eligible Seller’s registered bank account within sixty (60) days after the above condition is met.
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a) Eligible Buyers will receive 1% cashback of their approved invoice amount, capped at RM300 per transaction.
b) Cashback is calculated per invoice and fully funded by Funding Societies.
c) Only the first five (5) approved and disbursed transactions per Eligible Seller during the Campaign Period will be eligible for Buyer Cashback.
d) Cashback will be disbursed directly to the Buyer’s registered bank account within sixty (60) days after the Buyer has completed three (3) successful monthly repayments.

4.1 Seller fee rebates and Buyer cashback will be processed and disbursed by Funding Societies after verification of eligibility and repayment milestones.
4.2 Rebates and cashbacks are non-transferable, non-exchangeable, and not redeemable for cash or other forms of credit.

5.1 The Organiser reserve the right to disqualify any participant who:

● Breaches these Terms & Conditions;

● Provides false, inaccurate, or misleading information; or

Engages in fraudulent activity or defaults on repayment obligations.

6.1 All transactions under the Instalment Plan are subject to the CardUp’s Terms of Service and Funding Societies’s General Terms & Conditions.

6.2 By participating in this Campaign, the Eligible Sellers and Eligible Buyers are deemed to have read, fully understood and agreed to be bound by these terms and conditions including any amendments or variations to it. These terms and conditions and the Organiser's decision on all matters relating to this Campaign shall be final and binding on all the Eligible Sellers and Eligible Buyers and no correspondence and/or appeal in respect thereof shall be entertained.

6.3 Any matters which are not covered under these terms and conditions shall be solely determined by the Organiser. Any letter or correspondence pertaining to the decision made by the Organiser will not be entertained.

6.4 The Organiser shall not be responsible or held liable in any manner whatsoever in respect of technical failures of any kind whatsoever, intervention, interruptions and/or electronic or human error during the application process by the Eligible Sellers and Eligible Buyers.

6.5 By participating in this Campaign, the Eligible Sellers and Eligible Buyers hereby expressly and unconditionally consent and authorise the Organiser to process and disclose their personal data or particulars with any third party and/or service provider engaged by the Organiser for the purpose of this Campaign in accordance with the Organiser's Privacy Policy and PDPA Notice at its website. The Eligible Customers also hereby expressly and unconditionally consent and authorise the Organiser to use, retain, share, publish and/or display the names, any photographs taken, any videos recorded and/or other information for current and future advertising and/or Campaign purposes in any manner it deems appropriate without any compensation.

6.6 The Organiser reserves the right to withdraw, cancel, terminate, suspend or extend this Campaign and to add, delete, suspend and/or vary these Campaign's terms and conditions, wholly or in part at its absolute discretion with prior written notice by way of posting on the Organiser's website or any other notification method that the Organiser deems fit.

6.7 The Organiser shall not be responsible nor shall accept any liabilities of whatsoever nature, or howsoever arising or suffered by the Eligible Sellers and Eligible Buyers resulting directly or indirectly from this Campaign. For the avoidance of doubt, any cancellation, termination, suspension or extension of this Campaign or disqualification of the Eligible Sellers and Eligible Buyers or forfeiture of the Campaign shall not entitle the Eligible Sellers and Eligible Buyers to any claim or compensation against the Organiser or for any and all losses or damages suffered or incurred by the Eligible Sellers and Eligible Buyers as a direct or indirect result of the act of cancellation, termination, suspension, extension, disqualification or forfeiture.

6.8 The Organiser make no representation or warranty as to the quality, merchantability, or suitability of goods and/or services purchased under this Campaign.

6.9 These terms and conditions shall be governed by and construed in accordance with the laws of Malaysia and subject to the exclusive jurisdiction of the Courts of Malaysia.