Combined Financial Services Guide and Product Disclosure Statement (Non-Cash Payment Facility)

 

Part 1: Financial Services Guide

This Financial Services Guide (FSG) is designed to help you decide whether to use the services we offer in relation to the non-cash payment facility (the facility). It contains information about:

• who we are and how we can be contacted;
• the services and products we are authorised to provide;
• how we are paid for the services and products we provide;
• any potential conflicts of interest we may have;
• our internal and external dispute resolution procedures and how you can access them;
• how we handle your personal information and how you can access it.

 

This FSG is only one part of the combined document. The other part is the Product Disclosure Statement (PDS), which contains important information about the features, benefits, risks, fees, and charges of the facility. You should read both parts of this document carefully before deciding whether to use the facility.

If you have any questions or need more information, please contact us using the details below.

Our contact details are:

 

Who we are and what we do

We are MuliPay Pty Ltd (MuliPay) (ABN 54 670 681 213), a licensed provider of financial services in Australia. Our Australian Financial Services Licence (AFSL) number is 552726.

We are authorised to provide general financial product advice and to deal in the following financial products:

Authorised to:	Product
Provide general financial product advice	Non-cash payment products
Deal in a financial product by issuing, applying for, acquiring, varying or disposing	Non-cash payment products
Deal in a financial product by applying for, acquiring, varying or disposing on behalf of another person	Non-cash payment products

 

We act on our own behalf when we provide these services and products to you.

The advice we give you is general and does not consider your personal situation. Our services may not suit your goals, finances or needs. You should think about whether our services are right for you before you follow our advice.

 

Non-cash payment facility

The facility is a non-cash payment facility that allows a merchant to access our payment services through MuliPay’s User Interface (UI) or through our Application Programming Interface (API) to the merchants platform. A merchant can access the following services:

• MuliPay Direct Debit System;
• MuliPay Payment Gateway/System;
• BPAY Payment System

The facility is subject to the merchant terms and conditions and the PDS, which forms part 2 of this document. The PDS contains more detailed information about the features, benefits, risks, fees, and charges of the facility. You should read the Merchant Terms and Conditions and PDS carefully before using the facility.

 

How we are paid

We do not charge you any fees for providing general financial product advice.

However, MuliPay charges fees for our products and services that we provide to you. The fees and charges MuliPay receives for our products and services are set out in the PDS and the Fees and Charges Schedule, which are available on our website or on request. We may also receive commissions, fees, or other benefits from third parties in relation to the facility.

 

Remuneration of our staff

Most of MuliPay’s team members receive a fixed salary and do not get paid commissions or fees related to the products or services they sell. However, some sales representatives may earn commissions based on how many and how valuable the transactions they facilitate are, as well as their overall performance. This may give them a reason to favour certain products or services over others. We check and evaluate the payment arrangements of our staff regularly to make sure they are fair and reasonable and do not conflict with our duty to act in your best interests.

 

Third parties

Sometimes, we may get customers from other people or businesses who refer them to us. We may pay a fee to these referrers for their service. Some of our staff may also receive referral fees as part of their remuneration. If you want to know more about how much and how often we pay these fees, you can ask us before we provide our services to you.

 

Conflicts of interest

We have arrangements in place to manage any conflicts of interest that may arise in relation to the facility or the services we provide. These include:

• having a conflict of interest policy and procedures;
• maintaining a register of conflicts of interest;
• disclosing any relevant conflicts of interest to you;
• ensuring that our staff are trained and monitored on how to identify and manage conflicts of interest;
• segregating the duties and functions of our staff where appropriate;
• having a complaints handling process.

 

If we identify a conflict of interest that may affect the services we provide to you, we will inform you of the nature and extent of the conflict and the steps we have taken or will take to manage it. You can also request a copy of our conflict of interest policy and procedures at any time.

 

Complaints and disputes

We are committed to providing high quality services and products to our clients. However, we understand that sometimes things can go wrong and you may have a complaint or dispute with us. If this happens, we want to hear from you so that we can try to resolve the issue as quickly and fairly as possible.

If you have a complaint or dispute, you can contact us using the details above and tell us what the problem is and how you would like us to fix it. We will acknowledge your complaint or dispute within one business day and try to resolve it within 21 days. We will keep you informed of the progress and outcome of your complaint or dispute.

If you are not satisfied with how we handle your complaint or dispute, or if we do not resolve it within 30 days, you can contact the Australian Financial Complaints Authority (AFCA), which is an external dispute resolution scheme that provides free and independent services to consumers and small businesses. AFCA can help you resolve your complaint or dispute with us.

AFCA’s contact details are:

 

You can also contact the Australian Securities and Investment Commission (ASIC), which is the regulator of financial services in Australia. ASIC’s has a free Infoline on 1300 300 630 for obtaining information on your rights or making a complaint.

 

Privacy and personal information

We respect your privacy and are committed to protecting your personal information. We collect, use, disclose, and store your personal information in accordance with the Privacy Act 1988 (Cth) and our privacy policy and procedures.

 

We collect your personal information for the purposes of:

• providing you with the services and products you request;
• verifying your identity and eligibility for the services and products we offer;
• communicating with you and managing our relationship with you;
• complying with our legal and regulatory obligations;
• conducting market research and improving our services and products;
• preventing and detecting fraud, money laundering, and other crimes;
• dealing with your complaints and disputes;
• any other purposes that you consent to or that we notify you of.

 

We may disclose your personal information to third parties, such as:

• our related entities, agents, contractors, or service providers;
• card schemes, payment service providers, or other financial institutions;
• credit reporting bodies, debt collectors, or other credit providers;
• government agencies, regulators, or law enforcement bodies;
• auditors, insurers, or legal advisers;
• anyone who you authorise us to disclose your personal information to.

 

We may also collect your personal information from third parties, such as those listed above, or from publicly available sources, such as electoral rolls, telephone directories, or websites.

We may store your personal information in electronic or paper form, either at our premises or at external storage facilities. We take reasonable steps to protect your personal information from misuse, interference, loss, unauthorised access, modification, or disclosure. We also take reasonable steps to destroy or de-identify your personal information when we no longer need it for any of the purposes for which we collected it.

You have the right to access your personal information that we hold and to request us to correct, update, or delete it if it is inaccurate, incomplete, or out of date. You can also request us to provide you with a copy of our privacy policy and procedures, which contain more information about how we handle your personal information and how you can make a complaint if you think we have breached the Privacy Act or our privacy policy and procedures.

To access, correct, or delete your personal information, or to obtain a copy of our privacy policy and procedures, please contact us using the details above.

If you have a complaint or dispute about our services or products, you can contact us using the details above. We will try to resolve your complaint or dispute fairly and promptly. If you are not satisfied with our response, you can refer your complaint or dispute to the Australian Financial Complaints Authority (AFCA), which is an independent external dispute resolution scheme. AFCA provides fair and impartial financial services complaint resolution that is free to consumers. You can contact AFCA using the details above under section: Complaints and disputes.

 

Compensation arrangements

MuliPay has insurance to cover any claims against us or our representatives for the services and products we provide. This insurance meets the requirements of the law.

 

Part 2: Product Disclosure Statement

This Product Disclosure Statement (PDS) is designed to help you understand the features, benefits, risks, fees, and charges of the non-cash payment facility (the facility) that we offer. It contains information about:

• what the facility is and how it works;
• the benefits and risks of using the facility;
• the fees and charges that apply to the facility;
• how to apply for, activate, and use the facility;
• how to cancel or close your facility;
• how to make a complaint or dispute about the facility;
• other important information you need to know about the facility.

 

This PDS is only one part of the combined document. The other part is the Financial Services Guide (FSG), which forms part 1 of this document. The FSG contains information about who we are, what services and products we are authorised to provide, how we are paid, and how we handle complaints, disputes, and privacy issues. You should read both parts of this document carefully before deciding whether to use the facility.

 

If you have any questions or need more information, please contact us using the details below.

Our contact details are:

 

What is the facility and how does it work?

The facility is a non-cash payment facility that allows a merchant to access our payment services through MuliPay’s User Interface (UI) or through our Application Programming Interface (API) to the merchants platform. A merchant can access the following services:

• MuliPay Direct Debit System;
• MuliPay Payment System;
• BPAY Payment System

 

MuliPay Direct Debit System

MuliPay offers a direct debit system that automates the collection of recurring payments, membership or payment plans, invoiced payments, other payments and fees via you entering into a direct debit arrangement with your customer. MuliPay allows the collection of both recurring payments and one-off payments through our direct debit system. 

To use our Direct Debit system, customers need to execute and sign or provide electronic acknowledgement of and approved Direct Debit Request or Electronic Direct Debit Request form, either in print or electronically. This authorises MuliPay to debit your customers account.

 

MuliPay Payment system

MuliPay offers a payment system allowing merchants to collect one-time payments and other payments for credit card or debit card payments. This allows merchants to accept payments in real time via our technology. 

 

BPAY Payment System

MuliPay offers merchants BPAY® to accept payments. If you use BPAY we will provide you with two options. Option 1: A general biller code and unique customer reference numbers. Option 2: Your unique biller code and your system will create unique customer reference numbers for your customers.

 

MuliPay Online System

You may be provided access to MuliPay’s online system to manage payments and access detailed information in real time. 

 

MuliPay API Integration

You may access MuliPay’s API to integrate payments into your system. Through our API, clients can streamline processes, enhance efficiency, and leverage the full potential of MuliPay within their existing software ecosystem.

 

Other Services

MuliPay may provide other services including hosted payment pages, communication services, support services, and more. The facility is subject to the merchant terms and conditions and this PDS. You should read the merchant terms and conditions and this PDS carefully before using the facility.

 

What are the benefits of using the facility?

The facility offers you a convenient and secure way to collect payments focussing on automation, efficiency and security. The benefits for you will depend on the services that you use. General benefits include:

• Simple and convenient system to use;
• Additional control with payment timing and disbursements of payments;
• Flexibility in payments with timing, frequency and amounts;
• Offers bank account, debit card and credit card payments methods;
• Credit or debit cards can be processed in real time;
• Improved cashflow opportunities through real time payments and recurring payments;
• Increased automation of payments that can result in reduction in manual tasks;
• Reporting and record keeping benefits;
• Security of payments; and
• Ability to integrate.

 

What are the risks of using the facility?

The facility also involves some risks that you should be aware of and take steps to minimise. The risks below are not all encompassing, and you should seek independent advice to make an informed decision. General risks:

• The payment services may not be suitable for your needs;
• If a customer disputes or initiates a chargeback for a processed debit and this is successful, you will need to refund any amounts that has returned to the customer. Additionally, a fee may be applied to your account;
• MuliPay payment system may have times when the service is not available due to downtime. You will receive communication of any downtimes.
• A customer may have insufficient funds in their account that a direct debit is to be processed from. Therefore, this may result in a debit transaction being rejected;
• There is a risk that a customer may use a forged or stolen credit card or debit card leading to a Chargeback being initiated against your account, along with a corresponding fee.
• MuliPay may enlist third-party entities like banks and financial institutions to aid in delivering the selected services. Consequently, some services may face termination, delays, or other impacts beyond our control, hindering our ability to provide seamless service to you. 
• It’s essential to implement sufficient security measures to safeguard your account and passwords from unauthorised access;
• You are accountable for reimbursing your customers for any entitled refunds they may be entitled to receive.

 

You can reduce these risks by following the security tips and guidelines in this PDS and the merchant terms and conditions.

 

What are the fees and charges that apply to the facility?

The fees and charges for the facility are set out in the Fees and Charges Schedule, which forms part of this PDS. The Fees and Charges Schedule is available on our website or on request. We may vary the fees and charges from time to time by giving you notice in accordance with the merchant terms and conditions and this PDS.

You may also incur fees and charges from third parties when using the facility.

We are not responsible for any fees and charges imposed by third parties when using the facility. You should check with the third parties before using the facility to find out what fees and charges they may apply.

 

Terms and conditions for MuliPay

You can sign up to use MuliPay, a payment service that allows a merchant to access the following services: MuliPay Direct Debit System, MuliPay Payment System, BPAY Payment System and any additional services.

To sign up, you need to:

• Read this Product Disclosure Statement (PDS), which explains the features, benefits, risks, and fees of using MuliPay.
• Read the MuliPay Terms and Conditions, which set out the rules and obligations for using MuliPay. You can find them online at www.mulipay.com.au/terms.
• Complete and submit our MuliPay application form and submit the required information in the application form. MuliPay reserves the right to decide whether or not to offer you the services. Your application is considered accepted only after MuliPay verifies all provided information and agrees to accept your application.

 

By signing up, you agree to follow the PDS and the MuliPay Terms and Conditions. Please keep a copy of these documents for your records. If you have any questions, you can contact us at support@mulipay.com or visit www.mulipay.com.au/.

 

Updates to FSG and PDS

This document may be amended from time to time, with most changes communicated electronically. However, MuliPay reserves the right to update this document and make it available on our website, with such updates being legally binding on the Business. We advise to regularly check for any updates to this document.

 

Fees and Charges Schedule

The fees and charges payable for the services provided and transactions made are outlined below unless agreed elsewhere. These fees are subject to change at MuliPays’ discretion. 

 

Transaction Fees

Bank account, debit card, or credit card fee per transaction	Up to $4.00
Visa/Mastercard and Bank Debit Service Fee (minimum fee of $2.00)	Up to 4.20%
Amex Service Fee (minimum fee of $2.00)	Up to 5.00%
BPAY Transaction Fee per transaction	Up to $3.25
BPAY Service Fee	Up to 3.00%
International Surcharge Fee
Chargeback Fee	Up to $60
Claim Fee	Up to $60
High Value Debit Surcharge transactions over $10,000	Up to 4%
Refund Processing Fee	Up to $15.00
Settlement Fee	Up to $4.40
Chargeback Retrieval Fee	Up to $22.00
Fraud Monitoring Per Payer	Up to $1.15 pa
Claim Retrieval (non-card) Fee	Up to $11.50 per request
3DS (card security)	Up to 0.55% + $1.10
3DS (card security) System Set Up Fee	Up to $500 (one time per business)
3DS (card security) Annual Fee	Up to $500 per year per location

 

System/Facility Fees

Establishment Fee	As negotiated
Monthly Service Fee	As negotiated
Integration Fee	Up to $6,000
Data storage and compliance fee	Up to $5.50 Once only per new direct debit
Data Transfer Fee	Up to $5.50 per record
Fraud Monitoring Annual Fee	Up to $1,100

 

Service Fees

Onboarding fee	Up to $1,000
SMS or email communication fee	Up to 50 cents
Termination fee	Up to $1,100

 

MuliPay may reduce or vary fees or waive fees at its discretion. Please reference your application for your fees. Fees may be agreed elsewhere.

All fees may be subject to change at MuliPay discretion.

 

Last updated: 1 May 2024