Security

Keeping Your Money Safe: Security Best Practices

PT
PayZen Team
January 15, 2025
4 min read
Keeping Your Money Safe: Security Best Practices

Your Security is Our Priority

At PayZen, we take security seriously. As an AUSTRAC-licensed remittance service provider, we maintain the highest standards for protecting your money and personal information.

How PayZen Protects You

🔒

Segregated Accounts

All customer funds held in segregated accounts with major Australian financial institutions, completely separate from our corporate accounts.

🛡️

256-bit SSL Encryption

Every transaction and piece of data transmitted through PayZen is protected with bank-level 256-bit SSL encryption.

📱

Two-Factor Authentication

Required for all sensitive actions, adding an extra layer of security beyond your password.

👁️

24/7 Monitoring

Our security team monitors transactions 24/7 for suspicious activity, with automated fraud detection systems.

Security and protection

What You Can Do to Stay Safe

1. Use Strong, Unique Passwords

  • Use a password manager to generate and store complex passwords
  • Never reuse passwords across different services
  • Enable two-factor authentication on all accounts

2. Beware of Phishing

  • PayZen will never ask for your password via email or phone
  • Always check the URL before entering login details
  • Be suspicious of unsolicited emails asking you to click links
  • Forward suspicious emails to support@payzen.au

3. Keep Your Devices Secure

  • Keep your operating system and apps updated
  • Use reputable antivirus software
  • Avoid using public Wi-Fi for financial transactions
  • Set up device encryption and screen locks

4. Monitor Your Account

  • Check your transaction history regularly
  • Set up email notifications for all transactions
  • Report any suspicious activity immediately

Regulatory Compliance

As an AUSTRAC-licensed provider, we comply with all Australian anti-money laundering and counter-terrorism financing regulations. This includes:

  • Identity verification for all customers
  • Transaction monitoring and reporting
  • Secure record-keeping for 7+ years
  • Security framework and compliance monitoring in development

If You Suspect Fraud

If you believe your account has been compromised or you've fallen victim to fraud:

  1. Contact our support team immediately at support@payzen.au
  2. Change your password
  3. Review recent transactions
  4. Report the incident to local police if money was stolen

Your security is our top priority. We're committed to protecting your money and information with industry-leading security measures.

Ready to start saving on your transfers?

Join businesses using PayZen for cross-border payments

Key Takeaways
  • Transparent pricing with mid-market rates
  • AUSTRAC licensed and regulated
  • Fast transfers - delivery times vary by destination
  • Bank-level security encryption

AUSTRAC Licensed (AU)

PayZen is a registered remittance service provider licensed by AUSTRAC

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