Source: https://global.paymate.com/combined-fsg-pds-tou/
Timestamp: 2017-04-25 04:36:22
Document Index: 102980977

Matched Legal Cases: ['art 1', 'art 2', 'art 3', 'art 2', 'art 2', 'art 1', 'art 2', 'art 2', 'art 1', 'art 1', 'art 3']

Combined FSG PDS TOU - Paymate
and General Terms of Use (TOU)
This Combined FSG & PDS is intended for distribution within Australia and New Zealand only. The offer is only made to persons within Australia and New Zealand, including those receiving this Combined FSG & PDS electronically. This Combined FSG & PDS is not an offer or invitation in any place where, or to any person to whom, it will not be lawful to make that offer or invitation.
Part 1 — Financial Services Guide (FSG)
1.1 What is the Paymate Financial Services Guide (‘FSG’)?
1.2 What other documents may Paymate give me?
1.3 Who provides the financial services described in this FSG and how can I contact them?
1.4 What financial products and services is Paymate authorised to provide?
1.5 Who do we act for when we provide you with financial services?
1.6 What relationships does Paymate have with other product issuers?
1.7 How is Paymate paid in respect of the financial services provided?
1.8 How can I instruct Paymate?
1.9 What do I do if I have a complaint?
Part 2 — Product Disclosure Statement (PDS)
2.2 What is the purpose of this PDS?
2.3 Who is the issuer of the Services and how can I contact them?
2.4 Significant Benefits
2.5 Significant risks
2.6 Fees & Charges
2.7 Requirements for use
2.8 Payment amounts
2.10 Changes to information in this PDS
2.11 Other information available
Part 3 — Paymate Terms of Use (TOU)
3.1 About the Services
3.3 Access to the Paymate Website
3.4 Requirements for use
3.5 Authorised users
3.6 Registering to use the Services
3.7 Updating your profile
3.8 Verification of your account
3.9 Paymate Fees
3.10 Sending funds using Paymate
3.11 Cancelling a Payment
3.12 Refused or unclaimed Payments
3.13 Receiving funds using Paymate
3.14 Actions by Paymate
3.15 Dispute Resolution
3.16 Withdrawing from Paymate
3.17 Merchant Facility
3.18 Paymate Clearing Account
3.19 Instructions to Paymate are binding
3.20 Shopping Services
3.21 Your other obligations
3.22 No agency
3.23 Tools, calculators, games and other features
3.24 Links to other Websites
3.25 Warranties and Liabilities
3.26 Limitation of Liability
3.28 No personal advice
3.29 Availability of the Paymate Website
3.30 Copyright and Trademarks
3.31 Termination
3.32 Acceptance and changes to Terms of Use
3.34 Linking to Paymate
3.35 Unacceptable Business Types
The law requires Paymate Pty Ltd ABN 42 154 594 199 (“Paymate”, “we”, “us” or “our”) to give you an FSG to help you make an informed decision about whether you want to use the financial services we provide.
In particular, this FSG explains:
• the financial services and products we are authorised to provide;
• how we and others may be remunerated in relation to the financial services weprovide;
• any relationships or associations we may have with other financial servicesproviders; and
• how we deal with any complaints you make against us.
If you register or use the Paymate internet payment service (the “Paymate Service”) or the Paymate OnTheGo service (the “OnTheGo Service”) (together the “Services”), the terms of this FSG and the PDS (including the Terms of Use) and your application will form your agreement with us.
Before using the Services you will need to read, agree to and accept the terms of this combined FSG & PDS (including the Terms of Use).
The PDS is intended to help you to decide whether to use the Services. We will provide you access to the PDS (in Part 2 of this document) before we provide the Services to you. The PDS sets out various information, including a description of the significant benefits, risks and conditions attaching to the Services.
This FSG is provided by Paymate Pty Ltd ABN 42 154 594 199 Australian Financial Services Licence No 415833.
If you have any questions or need more information, you can:
• refer to our website at: www.paymate.com
• e-mail to: clientservices@paymate.com
• call us on: 1800 240 112 for the Paymate Service or 1800 248 934 for the OnTheGoService.
• fax us on: 1800 239 145 or;
• write to us at: Paymate Pty Ltd, Lower Ground Floor 120 Christie St, St Leonards,New South Wales, 2065, Australia.
• For Privacy related complaints contact our Privacy Officer on 1800 240 112
Paymate is authorised under its Australian Financial Services Licence to provide the following financial services:
• give general financial product advice (this is financial product advice that does nottake into account your personal circumstances, situation or needs) in relation todeposit and payment products limited to non-cash payment products and foreignexchange contracts; anddeal in deposit and payment products limited to non-cash payment products andforeign exchange contracts.
We provide financial services on our own behalf. We do not act for anyone else when providing financial services to you.
We provide the Services, and we issue the non-cash payment product and foreign exchange contracts comprising the Services.
Paymate receives transaction and subscription fees for provision of the Services. (These fees are detailed in the PDS in Part 2 of this document.)
When providing foreign exchange contracts as part of the Services, Paymate may achieve a ‘spread’ or margin between the daily rate at which we settle a payment to a Seller/Recipient and the daily rate at which we actually convert the payment from the foreign currency to AUD at a later date or time. This spread may be positive or negative based on the timing of the conversion and the movement of the foreign currency markets during that period. This means that we may make a profit if foreign currency rates move in our favour when we actually convert the payment.
No related body corporate of Paymate, directors or employees of Paymate or a related body corporate or any associate of any of these persons receive any remuneration (including commission) or other benefits in respect of, or that is attributable to, the provision of financial services to financial services detailed in this FSG. Paymate staff members are salaried employees of Paymate and do not receive any proportion of any fees or other sums paid to Paymate in connection with the financial services or products detailed in this FSG.
You can give us instructions by using the contact details set out in part 1.3 of this FSG. Details of how to instruct us when using the Services are set out in the PDS in Part 2 of this document.
Any complaints about any goods, services or delivery of those goods or services paid for using the Services should be resolved directly with the supplier of those goods or services or the company responsible for delivery of those goods or services.
If you have any complaints about the Services, contact our client services team by:
• sending an email to clientservices@paymate.com. Please provide as much information as possible (including any e-mail correspondence with the supplier or other third parties) to help us facilitate a resolution; or
• writing to the Client Services Manager, Paymate Pty Ltd, Lower Ground Floor 120Christie St, St Leonards, NSW 2065 Australia, or you can contact us by phone on 1800240 112 for the Paymate Service and 1800 248 934 for the OnTheGo Service.
We will promptly acknowledge receipt of your complaint. If we cannot immediately resolve the problem, we will tell you that we need more time or information to resolve the issue. (We may have to request information from third parties including the supplier, banks and any other individuals or companies involved in the transaction). We will keep you informed of progress and resolve your complaint within 45 days (unless there are exceptional circumstances).
If you have not been satisfied with the resolution of your complaint; you may contact the Credit Ombudsman Service Limited (COSL). COSL is a dispute resolution service dealing with disputes that individuals and small business have with their financial service providers. You can contact COSL as follows:
We have professional indemnity insurance in place that satisfies the requirements for compensation arrangements under section 912B of the Corporations Act.
Part 2 — Product Disclosure Statement
The Paymate internet payment service (the “Paymate Services”) is a secure, accurate and reliable internet payment service, allowing any individual, business or other organisation with an e-mail address and an eligible credit card to send and receive payments online.
The Paymate OnTheGo service (the “OnTheGo Service”) is a mobile service which allows any individual, business or other organisation with an existing Account and an application on a mobile device to interface with a secure point of sale terminal which can process certain credit and debit card transactions in real-time and in tandem with the Paymate Services.
In this PDS:
“Paymate”, “we”, “us” or “our” means Paymate Pty Ltd ABN 42 154 594 199 Australian Financial Services Licence No 415833.
“Terms of Use” means the terms of use for the Services set out in section 2.12.
“Services” means both the Paymate Services and the OnTheGo Services.
For the meaning of other terms which are capitalised (Like This) see the Definitions in paragraph 2 of the Terms of Use.
This PDS will help you:
• understand the significant benefits and risks associated with the Services;
• understand the terms of the Services; and
• compare the Services with other similar services you may be considering.
Please read all of this PDS (including Terms of Use) carefully before deciding whether to register for, or use, the Services.
Any financial advice in this PDS has been prepared without taking into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for your circumstances.
The issuer of the Services is Paymate Pty Ltd ABN 42 154 594 199 Australian Financial Services Licence No 415833 (“Paymate”).
Please see part 1.3 of the Financial Services Guide for information on how you can contact us.
The Paymate Service:
• Allows Sellers / Recipients to receive Credit & scheme debit card payments and ifyou need a Merchant Facility, Paymate can arrange this for you.
• Allows you as an Australian Seller/Recipient to agree a price with a Buyer/Sender in foreign currencies supported by Paymate and receive payment in AUD into your nominated Australian bank account. This enables each party to trade in local currency.
• Can reduce costs for your Buyer/Recipient that may be incurred with alternative methods.
Eliminates foreign currency risk for your Buyer/Recipient since they do not need to purchase your currency (AUD).
• Eliminates the need for you to maintain foreign currency accounts, convert from foreign currencies to your local currency (e.g. USD to AUD) or move funds from foreign currency to local currency bank accounts.
The OnTheGo Service:
• Allows you real-time authorisation of your face to face transactions.
• Provides you with mobile and “OnTheGo” access to your Account.
• Allows you to process EFTPOS®, credit card and debit card transactions via an application on selected Android® and Apple® smartphones attached to a Card Reader.
Using the Services carries some risks. This is a summary of the significant risks.
When the payment to you is cleared by us (typically 2-3 days after the Buyer/Sender makes the payment), we use the indicative foreign currency ‘sell rates’ published by an Australian Bank on that day to convert your foreign currency payment into AUD for settlement to your bank account overnight. You cannot select the timing or exchange rate at which your funds are converted from the foreign currency into AUD.
The foreign currency exchange rates may change from the time you agree a price in foreign currency with your Buyer/Sender and when we convert your funds into AUD. Depending on the way exchange rates change, you may receive less (or more) money (in AUD) than you anticipated when you set the payment price with your Buyer/Sender.
We may temporarily suspend or delay payments to you and/or specify that certain funds that you must maintain in your Account or in a Reserve Account (including because you have a high rate of Chargebacks, refunds, or other indications of performance problems related to your use of the Services. Monies held in the Reserve Account do not bear interest. (See paragraph 10 in the Terms of Use.)
If you have a dispute with the person making a payment to you, or receiving a payment from you, using the Services, you must follow our dispute resolution procedure and you will be bound by the outcome. (See paragraph 13.2 in the Terms of Use.)
If the Services is used on your behalf by someone else, you will be at risk of misappropriation and resulting loss. To help mitigate this risk, ensure you take appropriate steps to protect the security of the way you access the Services. Carefully check your transaction accounts and notify us of any errors or omissions.
If you inadvertently give others access to your details, your confidential information may be misappropriated.
The Services rely on various technologies (including the internet and the mobile phone network). If there is interruption to any technologies on which the Services rely, there may be interruptions to, or a delays in, the provision of the Services.
• In order to use the OnTheGo Service, you must already have a valid and active account. This means that in order to use the OnTheGo Service, you will be exposed to the risks associated with the Paymate Service.
Fees payable for using the Services, in the table below are only charged to the Seller, ie. the Buyer does not pay any fees. When you make a payment, Paymate calculates the fees and GST on the fees automatically for you.
The monthly account fee applies to the Seller and will be charged 30 days in advance. It will also be charged when the Seller changes account type.
Please note that acceptance of foreign currency credit card payments is optional and incurs an additional 2.75% fee payable by the Seller.
Transaction Fee (inc GST)
3.00% + $0.50 per transaction
If you are an Australian merchant and receive two online payments of $750 (i.e. total of $1,500). The total fees we deduct will be $39.00 and pay the remaining balance of $1,461.00 into your nominated bank account.
Default account limits
The monthly payment limit for all Account types is $20,000 (Note: this can be further amended by contacting our customer support). This means that without agreeing otherwise with Paymate, you will be able to receive maximum total payments through the Service of $20,000 per month.
All Paymate fees are subject to GST (on the fee only). All fees and amounts quoted in this PDS & FSG are quoted in $AUD.
Chargeback fee $30.00 (not applicable to Chargeback enquiries)
Transaction Refund Fee: $0.30
If you cancel your PaymateOnTheGo service within the first 12 months, a $150.00 cancellation fee applies.
$150.00 replacement fee for Lost / Stolen Paymate OnTheGo readers
We may vary these fees, or charge additional fees, at any time by giving notice to you. We will give notice of the imposition of a new fee, or any increase in an existing fee 30 days before it takes effect.
Fees payable to other service providers
When you use your EFTPOS®, credit or scheme debit card for a purchase, you will be subject to any applicable fees and interest, charged by your EFTPOS®, credit or scheme debit card provider. These fees are not charged by us.
You are responsible for all Chargebacks and other claims, fees, fines, penalties and other liabilities incurred by Paymate (and others) as a result of you using the Services. If you are involved in a dispute with another user of the Services, and Paymate makes a final decision against you, you may be required to reimburse Paymate for your liability.
Refer to Section 3.4 of the Terms of Use, for requirements to use the Paymate Service.
Payment amounts which may be paid using the Services in a single payment are subject to the following limits:
Minimum payment: $1.00 Maximum payment: $9,999.99
Note: you must not indicate that you require a minimum or maximum payment amount to use the Service.
Please see section 1.9 of the Financial Services Guide in Part 1 of this PDS for information on what to do if you have a complaint about the Services.
The information in this PDS is up to date as at 1 May 2016.
The information in this PDS may change from time to time. If the change is not materially adverse to you, we may notify you of the change on our website at www.paymate.com.
You may obtain a free paper copy of this Combined FSG & PDS, and any updates, by emailing clientservices@paymate.com or calling us on 1800 240 112.
Additional information in respect of the Services is available on our website at www.paymate.com
Part 3 — Paymate Terms of Use
3.6: Registering to use the Services:
Paymate regrets we cannot offer payment facilities to sellers who wish to operate in the following categories of goods and services. If you are not sure whether your business fits into any of these categories, please email us on clientservices@paymate.com or call (Australia) 1800 240 112 (New Zealand) 0800 000 095