Important Disclaimer: These Terms are prepared by AirPay’s compliance department and do not constitute legal advice. Merchants should obtain independent legal advice before signing. Subject to independent legal review.
General Terms and Conditions
Version v2026.1
Effective April 2026
Supersedes October 2025
Applies to All merchants in AU & NZ
Key Updates: AML/CTF Amendment Act 2024 | National Business Day definition | AFCA 82121 | RBA cash rate interest | Expanded sanctions warranty | s123 tipping-off protection
Contents
SECTION 1
These General Terms
AirPay Financial Technologies Pty Ltd (ABN 99 615 157 572, ACN 615 157 572, AFSL 526 194) (“AirPay”, “we”, “our”, or “us”) is an Australian financial technology company regulated under the Corporations Act 2001 (Cth) and registered with AUSTRAC as an enrolled reporting entity. AirPay holds AFSL 526 194 directly (not as an authorised representative of another licensee).
AirPay is a Visa Registered Third-Party Service Provider (Authorisation No. 10095567), a Mastercard Registered Service Provider (CID 613781), and an officially certified acquirer for UnionPay International, Alipay+ and WeChat Pay across Australia and New Zealand.
These General Terms and Conditions (“Terms”) govern the manner in which AirPay provides the Services to the merchant (“Merchant” or “you”). By accessing or using any part of the Services, you acknowledge that you have read, understood and agreed to be bound by these Terms, as amended from time to time.
AirPay does not maintain a direct contractual relationship with end customers who use WeChat Pay, Alipay, Visa, Mastercard, or UnionPay to pay for goods or services. These Terms apply solely to the relationship between AirPay and the Merchant.
- You should download and retain a copy of these Terms for future reference. The most current version is available at www.airpayfintech.com.
SECTION 2
Who AirPay Is and How to Contact Us
AirPay Financial Technologies Pty Ltd
ADDRESS
Level 35, Tower One, 100 Barangaroo Avenue, Barangaroo NSW 2000
Phone
+61280467682
Website
www.airpayfintech.com/privacy-policy/
We will contact you using the details you provided when you registered. Please ensure these remain accurate and up to date.
SECTION 3
Changes to the Terms
We may change the Terms (including Service Fees) for legitimate business reasons by giving you thirty (30) days’ prior written notice. Legitimate business reasons include: changes to regulatory or legal requirements, changes in the cost of providing the Services, and changes to the Services themselves. Continued use of the Services after the notice period constitutes acceptance.
We may also make changes immediately and without prior notice only where:
- required by Applicable Law (including any direction from AUSTRAC, ASIC, or a regulatory authority); or
- they relate to the addition of a new service or extra functionality and do not materially affect existing Service terms.
AirPay may, acting reasonably, change the name on your AirPay Profile to comply with Applicable Laws, banking partner requirements, or mandatory naming conventions consistent with the Australian Business Register.
SECTION 4
Authorised Users
4.1 Appointment
The Merchant may appoint one or more Authorised Users to act on its behalf. The Merchant must create a User Profile for each Authorised User and provide AirPay with all required identification information. The Merchant is responsible for ensuring all Authorised Users comply with these Terms.
4.2 Communication of Instructions
AirPay will receive instructions from Authorised Users through the AirPay Platform or, where agreed in advance, through a designated AirPay representative.
4.3 Responsibilities
The Merchant agrees that:
- Authorised Users have the authority to provide instructions on the Merchant’s behalf;
- AirPay is entitled to rely on any Authorised User’s authority until written notice of withdrawal is received;
- the Merchant is responsible for ensuring only appropriate persons hold Authorised User authority;
- AirPay may, acting reasonably, refuse access to any Authorised User where it has concerns about unauthorised or fraudulent access; and
- the Merchant must promptly notify AirPay of any suspected unauthorised access or misuse of the AirPay Platform.
SECTION 5
Customer Due Diligence and AML/CTF Compliance
5.1 Customer Identification and Verification
To comply with our obligations under the AML/CTF Act and the AML/CTF Rules, AirPay may conduct customer due diligence (CDD) and enhanced due diligence (EDD) on the Merchant, its directors, partners, ultimate beneficial owners (UBOs), Authorised Users, and any other parties involved in transactions. The Merchant must provide complete, accurate and up-to-date information at all times, and must respond to any AirPay information request within two (2) Business Days.
5.2 Verification Sources
The Merchant consents to AirPay making enquiries it reasonably considers necessary to verify information, including checks against commercial databases, credit reports, government registries, and the Document Verification Service (DVS) operated by the Attorney-General’s Department.
5.3 Conditions Precedent
AirPay’s provision of Services is subject to:
- successful completion of all initial and ongoing CDD/EDD checks; and
- no material adverse change occurring in the Merchant’s financial, ownership or credit status during the term.
5.4 AML/CTF Obligations
The Merchant acknowledges that AirPay has obligations under the AML/CTF Act, including:
- IFTI reporting within 10 business days of receiving or sending an international funds transfer instruction;
- SMR filing within 24 hours for terrorism financing matters; within 3 business days for all other suspicious matters;
- 7-year record-keeping under s105 of the AML/CTF Act.
- Tipping-Off Prohibition: Neither AirPay nor the Merchant may disclose that a suspicious matter report has been, is being, or is to be submitted to AUSTRAC. This obligation arises under s123 of the AML/CTF Act and applies regardless of any other provision of these Terms. AML/CTF Laws take precedence over all contractual obligations.
5.5 PEP Screening
AirPay conducts politically exposed person (PEP) screening as required by the AML/CTF Rules, including screening for domestic Australian PEPs. Such screening is mandatory for all merchants and their UBOs.
SECTION 6
About the Services
6.1 Scope of Services
AirPay provides a range of financial technology and payment-related services, including card-based payment acceptance, wallet-based payment acceptance (WeChat Pay, Alipay+), PayTo payment initiation, direct debit, NPP outbound payments, BPAY and bill payment, foreign exchange, settlement, remittance, and related compliance services.
6.2 Restrictions on Use
AirPay may, acting reasonably, impose temporary or permanent restrictions on all or part of the Services based on regulatory requirements, identity verification results, or operational requirements. AirPay will notify you when restrictions are imposed unless prior notice is not practical due to urgent or unforeseen circumstances.
6.3 Third-Party Services
The Services may enable you to connect with third-party services. AirPay does not provide or control Third-Party Services and is not responsible for them. Any exchange of data with a third-party provider is governed by that provider’s terms.
SECTION 7
Warranties
7.1 Merchant Warranties
The Merchant represents, warrants, and undertakes to AirPay on an ongoing basis that:
- if a natural person, the Merchant is at least eighteen (18) years of age;
- if a company, it is duly incorporated and validly existing under the laws of its place of formation;
- it has full legal capacity, authority, and all necessary licences, permits and consents to enter into these Terms;
- its entry into and performance of these Terms will not conflict with its constitution or breach any Applicable Law;
- it will provide AirPay with complete, accurate, and up-to-date CDD information at all times;
- it will use the Services only for lawful business purposes in full compliance with these Terms; and
- it will not use the Services, directly or indirectly, for any unlawful, deceptive, or fraudulent purpose.
7.2 Sanctions Warranty
The Merchant represents and warrants on an ongoing basis that neither the Merchant, nor any of its UBOs, directors, officers, controllers, nor any person or entity acting on its behalf or under its control, is listed on the DFAT Consolidated Sanctions List, any United Nations Security Council sanctions list, or otherwise subject to any Australian or international sanctions that would make AirPay’s provision of Services unlawful.
- The Merchant must notify AirPay immediately in writing if this warranty becomes untrue.
7.3 Disclaimers
To the extent permitted by law, AirPay makes no warranties of any kind with respect to the AirPay Platform or the Services. AirPay does not guarantee uninterrupted or error-free service, and does not provide financial, investment, or taxation advice.
7.4 Australian Consumer Law
Nothing in these Terms excludes, restricts, or modifies any rights you may have under Schedule 2 to the Competition and Consumer Act 2010 (Cth) (Australian Consumer Law).
SECTION 8
Service Fees
8.1 Payment for Services
The Merchant must pay all applicable Service Fees as set out in the Fee Schedule, or as otherwise agreed in writing. All Service Fees are exclusive of GST under the A New Tax System (Goods and Services Tax) Act 1999 (Cth).
8.2 Transaction-Based Fees
For payment processing and settlement services, AirPay will deduct applicable Service Fees directly from settlement proceeds before remitting funds to the Merchant, unless otherwise agreed in writing.
8.3 Subscription Fees
Recurring fees (for example, API access or dashboard features) are charged monthly in advance and continue until cancelled. The Merchant may cancel by providing written notice or through the AirPay Platform.
8.4 Invoices and Payment Terms
Invoices are payable no later than fourteen (14) calendar days from the invoice date. If payment is not received in full by the due date, AirPay may suspend the Merchant’s access to the Services and charge interest on the overdue amount at the rate of the RBA cash rate target plus four percent (4%) per annum, calculated daily and compounded monthly.
8.5 Set-Off and Recovery
AirPay may deduct or set off from any settlement funds any amounts the Merchant owes to AirPay under these Terms.
SECTION 9
Intellectual Property
All trademarks, logos, and branding used by AirPay are and remain the exclusive property of AirPay. Merchants must not use them without prior written consent. AirPay owns and retains all Intellectual Property Rights in its Services, Platform, proprietary technology, software, algorithms, and documentation. Nothing in these Terms transfers ownership to the Merchant.
AirPay grants the Merchant a personal, limited, revocable, non-transferable, non-exclusive licence to access and use the AirPay Platform solely for the purpose of receiving the Services. The Merchant must not copy, resell, reverse engineer, or decompile any part of the AirPay Platform or Services.
SECTION 10
Liability
10.1 Non-Excludable Liability
Nothing in these Terms limits either party’s liability for: (a) death or personal injury caused by negligence; (b) fraud or fraudulent misrepresentation; or (c) any other matter for which liability cannot lawfully be excluded.
10.2 Exclusions of Liability
Subject to clause 10.1, AirPay and its affiliates shall not be liable for any indirect, incidental, punitive, special, or consequential losses or damages; any loss of profits, revenue, business, opportunity, data, or goodwill; any delay or failure caused by a banking partner, payment processor, or other third party outside AirPay’s reasonable control.
10.3 Liability Cap
- Except as set out in clause 10.1, AirPay's total aggregate liability to the Merchant shall not exceed the lesser of: (a) the total amount of Service Fees paid by the Merchant in the six (6) months immediately preceding the event giving rise to the claim; or (b) AUD$100,000.
SECTION 11
Indemnities
The Merchant shall indemnify and keep indemnified AirPay and its affiliates against all losses, liabilities, costs, damages, and expenses (including reasonable legal costs on an indemnity basis) arising from:
- any breach by the Merchant of these Terms;
- the Merchant’s failure to comply with any Applicable Law or AUSTRAC reporting obligation;
- any misuse or fraudulent use of the Services by the Merchant or its personnel;
- any claim that Merchant Materials infringe the Intellectual Property Rights or privacy rights of any third party;
- any AML/CTF, sanctions, or Relevant Law breach relating to the Merchant’s underlying business activities; or
- any regulatory fines or penalties imposed on AirPay by AUSTRAC or any other Government Agency arising from or connected to the Merchant’s conduct.
This indemnity survives termination or expiry of these Terms.
SECTION 12
Confidentiality, Privacy and Data
12.1 Confidential Information
Each party must keep the other’s Confidential Information strictly confidential, use it only for the purposes disclosed, and not disclose it to any third party except as permitted under these Terms or required by law.
12.2 Privacy and Personal Information
AirPay is committed to protecting Personal Information in accordance with the Privacy Act 1988 (Cth), the Australian Privacy Principles (APPs), the Privacy (Credit Reporting) Code 2014, and the Notifiable Data Breaches (NDB) scheme. Both AirPay and the Merchant must retain relevant transaction and identification records for a minimum of seven (7) years after completion of any transaction, in accordance with s105 of the AML/CTF Act.
12.3 Disclosure of Information
AirPay may disclose Customer or transaction information to: related bodies corporate; payment networks and financial institutions; regulatory authorities including AUSTRAC, ASIC, and the ATO; professional advisers; and any third party authorised by the Merchant. AirPay will not sell or share Personal Information for marketing purposes.
SECTION 13
Anti-Bribery, Anti-Corruption and Sanctions
The Merchant must, and must ensure its Personnel:
- comply with all Applicable Laws relating to anti-bribery, anti-corruption, anti-money laundering, counter-terrorism financing and sanctions;
- not engage in or authorise any activity that would cause AirPay to breach any of the above laws;
- not offer, promise, give, request, or accept any bribe, kickback, or improper advantage;
- maintain internal controls and compliance procedures to prevent and detect bribery, corruption, or sanctions breaches; and
- provide reasonable assistance to AirPay to comply with requests from AUSTRAC, ASIC, or the Australian Federal Police.
SECTION 14
Force Majeure
Neither party will be liable for delay or failure to perform obligations to the extent caused by a Force Majeure Event, including acts of God, natural disasters, war, terrorism, civil unrest, government restrictions, regulatory change, change in Applicable Law, failure of telecommunications or payment networks, or outage of banking or settlement systems.
- This clause does not relieve the Merchant of its obligation to pay Service Fees or other charges properly due.
SECTION 15
Suspension and Termination
15.1 Termination by Merchant
The Merchant may terminate these Terms by providing sixty (60) days’ prior written notice. During the notice period, the Merchant must continue to meet all payment obligations, cooperate to resolve outstanding chargebacks, and pay all accrued Service Fees.
15.2 Suspension or Termination by AirPay
AirPay may, acting reasonably, suspend or terminate all or part of the Services immediately, without prior notice, where:
- the Merchant breaches any provision of these Terms or any Applicable Law;
- AirPay reasonably suspects unauthorised, fraudulent, or criminal activity;
- required to do so by law or by a regulator (including AUSTRAC or ASIC);
- the Merchant fails to provide accurate or verifiable CDD information;
- the Merchant fails to pay any amount due;
- the Merchant is or becomes insolvent; or
- the Merchant’s account remains inactive for twelve (12) consecutive months.
SECTION 16
General
16.1 Complaints
If you believe we have made an error, please contact us at admin@airpayfintech.com. AirPay will acknowledge your complaint within one (1) Business Day and provide a written outcome within thirty (30) calendar days, in accordance with ASIC Regulatory Guide 271.
External Dispute Resolution — AFCA (Membership No. 82121)
Website
www.afca.org.au
Phone
1800 931 678 (toll free)
info@afca.org.au
Post
GPO Box 3, Melbourne VIC 3001
16.11 Governing Law
These Terms are governed by the laws of New South Wales, Australia. Each party irrevocably submits to the exclusive jurisdiction of the courts of New South Wales.
SECTION 17
Definitions and Interpretation
| TERM | DEFINITION |
|---|---|
|
AML/CTF Act |
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) as amended by the AML/CTF Amendment Act 2024 (Cth), together with the AML/CTF Rules. |
|
Applicable Law |
All laws, regulations, rules, standards and regulatory guidance applicable in Australia including the Corporations Act 2001 (Cth), AML/CTF Act, Privacy Act 1988 (Cth), Autonomous Sanctions Act 2011 (Cth), and any requirements issued by ASIC or AUSTRAC. |
|
Authorised User |
A person authorised by the Merchant to access or operate the AirPay Platform on the Merchant’s behalf. |
|
Business Day |
A day other than a Saturday, Sunday, or public holiday listed throughout Australia. |
|
CDD |
Customer due diligence, including enhanced due diligence (EDD), conducted in accordance with the AML/CTF Act. |
|
DFAT Consolidated List |
The list of persons and entities subject to targeted financial sanctions under Australian autonomous sanctions law, maintained by DFAT. |
|
Fee Schedule |
The list of applicable Service Fees published by AirPay or agreed in writing. |
|
Force Majeure Event |
Any event beyond a party’s reasonable control that prevents or delays performance, including natural disasters, war, terrorism, government orders, change in Applicable Law, or failure of payment or settlement systems. |
|
Government Agency |
Any government or governmental body, authority, agency, department, commission, regulator, tribunal or entity in Australia or any other relevant jurisdiction, including AUSTRAC, ASIC, the ACCC, the OAIC, the ATO, and the Australian Federal Police. |
|
IFTI |
International funds transfer instruction as defined in the AML/CTF Act. |
|
PEP |
Politically exposed person as defined under the AML/CTF Rules, including domestic Australian PEPs, foreign PEPs, and their immediate family members and close associates. |
|
RBA |
Reserve Bank of Australia. |
|
Services |
Payment processing, merchant acquiring, settlement, and other related financial technology services provided by AirPay. |
|
SMR |
Suspicious matter report as defined in the AML/CTF Act. |
|
UBO |
Ultimate beneficial owner — an individual who ultimately owns or controls 25% or more of the Merchant. |
Innovative Financial Solutions Empowering the Digital Economy
AirPay Financial Technologies Pty Ltd maintains compliance with its obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and applicable New Zealand AML/CFT legislation.
Contact Info
- admin@airpayfintech.com
- +61 2 8046 7682
- Tower One, 100 Barangaroo Ave, Barangaroo NSW 2000
Useful Links
Financial License
AFSL 526194
AAN 100844285
FSP 557526
AUSTRAC IND100844285-001
NZBN 9429046088413
© 2026 AIRPAY FINANCIAL TECHNOLOGIES PTY LTD. ABN 99 615 157 572. All Rights Reserved.
Compliant with AML/CTF Regulations