BlueOne Card enters five-year Master Program Manager Agreement with bank for prepaid card revenue-sharing

BlueOne Card, Inc.

Board approved agreement dated Feb 27, 2024 with a third-party bank to manage prepaid card programs.
Initial 5-year term, auto-renews for 2-year periods unless either party gives 180 days' notice.
Bank compensated by net program revenues after costs; company pays one-time setup fee and card personalization costs.
Bank may terminate at its sole discretion if company not operating in bank's best interests or program is no longer viable.
Either party may terminate for material breach (30-day cure), regulatory direction, or bankruptcy (60-day stay).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BlueOne Card, Inc. entered into Master Program Manager Services Agreement with a third-party bank (effective 2024-02-27).

Action: entry
Counterparty: a third-party bank
Effective: 2024-02-27

Exact text from the filing

On March 5, 2024, the Board of Directors of BlueOne Card, Inc., a Nevada corporation (the “ Company ”), approved and ratified the Company entering into the Master Program Manager Services Agreement dated February 27, 2024 (the “ Agreement ”) with a third-party bank (the “ Bank ”).

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BlueOne Card, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009795

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