As an EU-licensed financial institution and the issuer of Blackcatcard, Papaya Ltd is legally obliged to protect its customers’ funds. We apply a dual protection model that fully complies with EU regulations and ensures maximum security:

- Safeguarding: All customer funds are kept in segregated accounts with a trusted European credit institution. These accounts are completely separate from Papaya Ltd’s corporate funds in accordance with EU regulations. This means your money stays protected and unaffected even in the unlikely event of financial difficulties at the institution.

- Insurance: In addition, Papaya Ltd has an insurance agreement with a reputable EU-based insurance company, Axiom. This adds an extra layer of protection, ensuring that even in the rare case of insolvency, your funds remain safe and cannot be claimed by creditors.

This approach — fully aligned with EU directives that allow safeguarding and/or insurance for electronic money institutions — guarantees a high level of security and peace of mind when using Blackcatcard.

Your money is always fully protected with Blackcatcard.