Combined Financial Services Guide (FSG) and Product Disclosure Statement (PDS)

FINANCIAL SERVICES GUIDE

AND

PRODUCT DISCLOSURE STATEMENT

 

PBA FINANCIAL LICENSING PTY LTD

AFSL 549895, ABN: 13 662 384 652

Combined Financial Services Guide and Product Disclosure Statement for a Non-Cash Payment Facility 

Version	Date	Changes
1.0	01/05/2024	First version of the FSG and PDS for the  non-cash payment facility.
1.1	01/05/2026	General disclosure, administrative and formatting updates.

IMPORTANT INFORMATION

REGARDING OUR FINANCIAL SERVICES AND PRODUCTS

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 a non-cash payment facility (the “Facility”). It contains information about:

• who we are, our Authorized Representative 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 complaints handling and dispute resolution procedures and how you can access them; and
• 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 at:

Name:            PBA Financial Licensing Pty Ltd

Address:        19 Tallebudgera Creek Road, West Burleigh, QLD 4219

Phone:           1300 641 310

Email:             compliance@payadvantage.com.au 

Website:        www.payadvantage.com.au

Who we are and what we do 

We are PBA Financial Licensing Pty Ltd (“PBA”) an Australian licensed financial services provider, with AFSL registration number: 549895.  The Australian Securities and Investments Commission (ASIC) have also approved our related company Pay Advantage Pty Ltd (registration number 001309789 (“Pay Advantage”) as a Corporate Authorized Representative.

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.

How we are paid 

We do not charge you any fees for providing general financial product advice or for  dealing in the financial products we are authorised to provide. However, we may charge you fees and charges for using the Facility.

The fees and charges for the Facility are set out in the PDS and in the Fees and Charges Schedule.  They are also available on our website or on request.

We may receive commissions, fees, or other benefits from third parties in relation to the Facility, such as:

• interchange fees from card schemes or other financial institutions
• rebates or incentives from non card schemes as well as sponsoring banks or acquirers

We will disclose the amount and nature of any commissions, fees, or other benefits we receive from third parties in relation to the Facility in the PDS or on request.

Remuneration of our staff 

PBA's and Pay Advantage's team members are remunerated on a fixed basis, either by salary or hourly wage, and do not receive commissions, or other variable payments linked to the products or services they sell. Some sales representatives  may earn commissions or incentives based on how many and how valuable the transactions they  facilitate are, as well as their overall performance. 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 

We may, at times, pay commissions to third parties such as referral partners or software providers who introduce merchants to us. Certain staff may also receive referral-based incentives as part of their remuneration.

If you would like further detail on the amounts or frequency of these payments, you can request this information before engaging our services.

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; and
• 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.

Any complaints or disputes can be lodged directly via our website.  Alternatively you may also communicate your complaint or dispute to us using the contact details above.  Kindly share detailed  information about the issue and how you would like us to resolve it. We will acknowledge your complaint within 1 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 remain dissatisfied with the outcome of your lodged complaint, or with how we handled it, or in the event that we do not resolve it within 30 days without reasonable explanation for the delay, you may also refer your complaint to 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:

Phone	Email	Website	Mail
1800 931 678	info@afca.org.au	www.afca.org.au	GPO Box 3, Melbourne VIC  3001

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), the Australian Privacy Principles 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; and
• 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.

Compensation arrangements 
PBA has insurance to cover claims against us and Pay Advantage for the services and products we provide. This insurance meets the requirements of the law.

Part 2: Product Disclosure Statement 

This PDS is designed to help you understand the  features, benefits, risks, fees, and charges of 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 manage your Facility,
• how to cancel or close your Facility;
• how to make a complaint or dispute about the Facility; and
• 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 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  provided above.

What is the facility and how does it work? 

The facility is a non-cash payment facility that allows you to make payments without  using cash. You can use the facility to pay for goods and services, transfer money, or  access your funds through various channels, such as:

• Credit & Debit Card Networks
• BPAY
• Direct Debit via Direct Entry Service
• PayTo & PayID via the NPP
• Other payment schemes that we may make available from time to time

The Facility is linked to your merchant account with us. You can access the Facility by using your account username and password.

The Facility is subject to the terms and conditions of your merchant account and this PDS. You should read the terms and conditions of your merchant account and this  PDS carefully before using the Facility.

What are the benefits of using the facility? 

The Facility enables you to accept and manage non-cash payments.  Key features and benefits include:

• Accept a range of non-cash payment methods, making it easier for your customers to pay
• Payments are processed and settled in accordance with the Service terms, supporting cash flow
• Access to transaction records and reporting tools to assist with tracking and reconciliation
• Electronic payments may reduce operational risks associated with handling physical cash
• Integration with business systems may assist in automating payment collection and administrative tasks.
• Use of the Facility includes fraud detection and prevention measures, which assist in managing certain transaction risks.

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. Some of the risks of using the Facility:

• Processing delays or holds: Settlement of funds may be delayed or subject to holds which may impact cash flow
• Transaction reversals and chargebacks: Payments may be reversed as chargebacks or disputes, and merchants may be required to return funds or incur associated costs
• Fraud and unauthorized transactions: Despite fraud controls, unauthorized or fraudulent transactions may occur and may result in financial loss, subject to the terms of Service.
• Service interruptions: The Facility relies on systems and third party providers, and network outages or disruptions may temporarily affect the ability to process payments.
• Fees and charges: Fees apply to the use of the Facility and may affect overall profitability, particularly where transaction volumes fluctuate.

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

Terms and Conditions to use the facility

As part of the activation and onboarding process, you will be required to:

• Confirm you have read the FSG and PDS documents
• Confirm you have read Terms and Conditions, which set out the rules and responsibilities for using  the Facility, see: https://www.payadvantage.com.au/terms-of-service/ 

By signing up to use the Facility, you agree to follow the PDS and the PBA Terms and Conditions. We recommend you keep a copy of these documents for your records. If you have any questions, you can  contact us using the details above.

What are the fees and charges? 

We do not charge you any fees for applying for or activating the facility. However, we may  charge you fees and charges for using the Facility, such as:

• Transaction fees
• Account and subscription fees
• Dishonour fees
• Stop payment fees
• Chargeback fees
• Feature pack fees

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 also 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 terms and conditions of your transaction account and this PDS.

You may also incur fees and charges from third parties when using the facility, such as:

• merchant surcharges for accepting debit cards or online payments;
• fees from BPAY or other payment service providers for using their services.

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. 

Fees and Charges Schedule 

The below fees represent the maximum fees we will charge and include GST. Merchants who have a negotiated rate may have fees lower than the below schedule.

Minimum Spend	$550
Direct Debit Setup Fee	$9.90
Direct Debit Per Debit	$4.95 + 4% MSF (if from a credit card)
Direct Debit Dishonour Fee	$22.00
Direct Debit Reminder Fee	$1.95
BPAY	$5.50 + 1% MSF
Credit Cards	$0.66 + 4% MSF
Authorisation Charge	$0.66
PayTo	$5.50 + 1% MSF
Refunds	$9.90
Chargebacks	$55.00
BPAY Custom Biller Code	$550 setup + $22 per week
High Value Feature Pack	$550 setup + $55 per week