Terms and Conditions

Welcome to PayZen! By using our website or services, you agree to these Terms and Conditions. Please read them carefully, as they govern your use of our services and outline your rights and responsibilities.

1. Who We Are

We are Anantla Australia Pty Ltd trading as PayZen ("PayZen", "we", "our", "us"). When you use our website and services, you are contracting with Anantla Australia Pty Ltd under these Terms and Conditions.

PayZen is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a remittance service provider (Australia only). We provide Payment on Behalf Of (POBO) and Collection on Behalf Of (COBO) services for businesses and institutional clients conducting cross-border payments and international remittances.

2. Using Our Website and Services

2.1 Eligibility

You must be a registered business entity or institutional client with the legal capacity to enter into binding contracts. PayZen services are available to businesses and institutional clients only. PayZen will not be responsible for any unauthorised use of its services.

2.2 Geographic Restrictions

Do not use our website or services if it is illegal to do so in your country. Our services are designed for users who are legally allowed to access and use them under their local laws.

2.3 Purpose of Use

Our services are intended for legitimate business cross-border payments and remittances. They are not to be used for speculative trading, investment purposes, or unlawful activities including money laundering or financing of terrorism.

2.4 Updates and Changes

We may change the content of our website, our services, or these Terms and Conditions at any time. We will notify you of material changes via email or through our platform. Continued use after changes constitutes acceptance.

3. Accessing Your Account

3.1 Account Security

• Keep your login details (username, password, and security information) secure and do not share them with anyone
• You are responsible for all activities that occur under your account
• Notify us immediately if you believe your account has been compromised
• We are not liable for losses caused by unauthorised use of your account

3.2 Two-Factor Authentication

Two-factor authentication combines something you know (your password) with something you have (your mobile phone). When logging in or performing certain actions, we will send a code to your phone that you must enter to proceed.

3.3 Privacy and Data Protection

We collect, use, and share your personal information in accordance with our Privacy Policy. Please review our Privacy Policy to understand how we handle your data.

4. Making and Managing Business Payments

4.1 Initiating a Business Payment

Follow the on-screen steps to initiate a business payment. We may request additional information to process your payment, including documentation necessary to comply with our anti-money laundering and counter-terrorism financing obligations.

4.2 Confirmation of Order

Once you place an order, we will send you an email acknowledging receipt. This is not an acceptance of your order. Your order is only confirmed and binding once we send you a matching confirmation email.

4.3 Exchange Rates and Fees

• Exchange rates are based on the mid-market rate plus our transparent margin
• Rates are locked when you create a quote and remain valid for 10 minutes
• We charge transparent fees for each transfer, which are displayed before confirmation. Fees are determined based on the transfer amount, destination, and payment method (TBD).
• All fees are inclusive of GST where applicable

4.4 Changes and Cancellations

• You can modify or cancel your order before it has been processed
• Once a transfer is in progress, cancellation may not be possible
• We may refuse or cancel your order at any time if necessary for compliance or operational reasons
• Refunds are processed within 5-10 business days

4.5 Deposits and Business Payments

• Funds you deposit must be legally and beneficially owned by your business entity
• We do not pay interest on deposits
• You are responsible for fees related to incorrect deposit instructions
• We may deduct our fees and any third-party charges from your deposits

4.6 Transaction Limits

Transaction limits may apply based on your verification level, transfer corridor, and AUSTRAC regulatory requirements. We reserve the right to refuse or cancel any transaction that exceeds applicable limits.

5. Verification and Compliance

5.1 Business Entity Verification

As a registered remittance service provider, we are required to verify your business entity. You must provide:

• Business registration documents and certificates of incorporation
• Proof of business address and registered office
• Tax identification numbers (ABN, ACN, or equivalent)
• Authorized signatory identification and authority documents
• Additional documentation as requested for compliance purposes

5.2 Ongoing Due Diligence

As required by the AML/CTF Act and AUSTRAC regulations, we conduct ongoing customer due diligence (CDD) and enhanced due diligence (EDD) for higher-risk transactions. We monitor transactions continuously and may request updated information or documentation at any time to maintain compliance with AUSTRAC requirements and our AML/CTF program obligations.

5.3 Suspicious Activity Reporting

Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), we are legally required to report suspicious matters to AUSTRAC. This includes Suspicious Matter Reports (SMRs) and Threshold Transaction Reports (TTRs). Any delays or cancellations due to compliance reviews or regulatory reporting obligations are not our responsibility, and we cannot disclose such reports to you as this would be a criminal offence under Australian law.

6. Prohibited Activities

You may not use PayZen services to:

• Transfer funds for illegal purposes
• Engage in money laundering or terrorist financing
• Violate any applicable laws or regulations
• Impersonate another person or entity
• Interfere with or disrupt our services
• Use our services for speculative trading or investment
• Provide false or misleading information

7. Our Responsibilities and Liabilities

7.1 Service Availability

We strive to provide reliable services, but cannot guarantee that our website will always be available, error-free, or meet your expectations. We may suspend services for maintenance, compliance, or security reasons.

7.2 Limitation of Liability

PayZen is not liable for losses resulting from:

• Use or inability to use our website or services
• Technical failures or system outages
• Delays beyond our reasonable control (regulatory actions, banking failures)
• Force majeure events (natural disasters, war, strikes)
• Actions of third-party service providers

If we are found liable for any loss, our total liability is limited to the amount you paid us in the affected transaction.

7.3 Indemnity

You agree to indemnify and hold PayZen harmless against any losses or damages resulting from your actions, such as unauthorised use of your account or breach of these Terms and Conditions.

8. Security Measures

8.1 Your Security is Important

• Segregated Customer Accounts: All customer funds are held separately in segregated accounts with major financial institutions
• 256-bit SSL Encryption: Your connection is secured with VeriSign SSL encryption
• Secure Data Centre: All information is stored in secure facilities with 24/7 protection and biometric access
• Systematic Security: Continuous auditing, logging, backups, and latest virus protection

8.2 Phishing and Fraud Awareness

PayZen will never ask for your password, credit/debit card information, or bank details through emails. If you receive suspicious emails claiming to be from PayZen, do not click links or open attachments. Forward them to support@payzen.au.

9. Intellectual Property

All content on our website (text, logos, images, software) is owned by Anantla Australia Pty Ltd or licensed to us. You may not copy, distribute, or use any content for commercial or private purposes without our prior written permission.

10. Closing or Suspending Your Account

We may close or suspend your account if:

• You violate these Terms and Conditions
• Your activities are suspected to be unlawful
• Required by AUSTRAC or other regulatory bodies
• You have provided false or misleading information

11. Complaints Procedure

If you have a complaint, please contact our Customer Experience team at support@payzen.au. We will acknowledge your complaint within 24 hours and aim to resolve it within 35 business days.

If we cannot resolve your complaint to your satisfaction, you may refer the matter to the Australian Financial Complaints Authority (AFCA):

• Website: www.afca.org.au
• Phone: 1800 931 678
• Email: info@afca.org.au

12. Governing Law and Dispute Resolution

These Terms and Conditions are governed by the laws of Victoria, Australia. Any disputes will be subject to the non-exclusive jurisdiction of the courts of Victoria.

13. General Provisions

If any part of these Terms and Conditions is found to be unlawful or unenforceable, it will not affect the enforceability of the remaining terms, which will continue to operate with full force and effect.

14. Contact Us

If you have questions or need assistance, please contact us:

• Email: support@payzen.au
• Legal: legal@payzen.au
• Address: Anantla Australia Pty Ltd, Melbourne, Australia