Speed Remit Terms & Conditions

RECITALS

A IPAY agrees to licence the Client to use the While Label Platform also termed as “WLP” on the terms and conditions set out in this document but only providing the Client has accepted these terms and conditions as set out in Recital B.

B The Client agrees to these terms and conditions by signing the agreement between IPAY and the Client.

OPERATIVE PART

1. Definitions

-“IPAY” means the White Label Platform” provider.
-“WHITE LABEL PLATFORM” means the digital platform application, the data associated with it and associated media owned by IPAY which allows customers to operate transactions using the IPAY Service; This is often termed as “WLP”
-“Client” means SPEED REMIT. This is used interchangeably in these Terms with “you” and “yours”
-“USERS” means the end customers who register to use the digital platform under this WLP arrangement.
-“AML/CTF policy” means the Anti Money Laundering/Counter Terrorism Financing policy which IPAY is obliged to maintain and comply with in providing any services including but not limited to the IPAY Service;
-“Bank Account” means the bank account to which your funds are to be transferred and held by on your behalf in the nominated account.
-“Digital Application” means the platform of Client for user registration and digital execution of the transactions via the arrangement of WLP that is provided to the Client by IPAY and pursuant to these terms and conditions;
-“Licence” means the registrations and licence of IPAY.
-“Money laundering” has the meaning given in Section 6 of the Anti-Money Laundering and Counter Terrorism Financing Act 2006;
-“Recipient” means any Registered Client whether individual or corporate to receive fund as per remitter’s original information;
-“Registration details” means the personal details which is required to enter in order for IPAY to provide the IPAY Service through the arrangement of WLP.
-“Registered customer” means the user who has entered all Registration details as required by IPAY, consequently have been approved by IPAY with the confirmation of registration to be enabled for IPAY Service through the arrangement of WLP.
-“Source currency” means AUSTRALIAN DOLLAR;
-“Target currency” means the currency which your recipient will receive;
-“IPAY Service” means the Service provided to you by IPAY via the arrangement of WLP.
-“Transaction” means the transfer of money (international remittance) from the user’s Bank Account executed to Recipients’ pursuant to the said directions using the digital platform of WLP.
- “Transaction History” means record of the Transactions on the digital application which can be accessed at any time prior to termination of the Licence;
- “IPAY” means the company known as Transcash International Pty Ltd (ACN 147705324) which holds an Australian Financial Services Licence (AFSL: 401180) authorised by the Australian Securities and Investments Commission and registrations with AUSTRAC as INDEPENDENT REMITTANCE DEALER for the provision of remittance services.
- “We”, “us”, and “our” is used interchangeability in these Terms to refer to IPAY and its services which is White Label Platform.

2. User Registration and Obligations

2.1 In order to receive the service of Digital Application the user must be 18 years or older and must register his or her personal details with IPAY via Digital Application as follows:
- Mobile telephone number and password associated;
- Email address;
- Full name;
- Valid form of ID and the details;
2.2The user must provide IPAY via digital application with documents to allow the identification of the users (either a Driver’s Licence or a Passport clearing showing date of birth). These requirements are necessary to comply with the policy maintained by IPAY in relation to its obligations to protect against Anti-money laundering and counter terrorism financing.
2.3IPAY may require the user to produce additional identification as necessary to permit it to comply with its legal obligations;
2.4The Client and the User must not violate any applicable laws and takes responsibility for any consequences flowing from the Client’s breach of this section;
2.5The Client is responsible for checking the IPAY website regularly to keep its users up to date with changes to these Terms and Conditions;

3. Licence to Use the Digital Application under WLP

3.1 IPAY grants you a non-transferable, non-exclusive licence to use the WLP subject to your compliance with these Terms and Conditions, our Privacy Policy (incorporated into these terms by reference) as may be amended from time to time.
3.2 No representations, conditions, warranties or other terms of any kind are given in respect of the WLP and all statutory warranties and conditions are excluded to the fullest extent possible under applicable law.
3.3In order to receive the service of Digital Application the user must be 18 years or older and must register his or her personal details with IPAY via Digital Application as follows:
- Not to copy the WLP (except where such copying is incidental to normal use of your digital application under IPAY WLP SERVICE, or where it is necessary for the purpose of back-up or operational security); and
- Not to rent, lease, sub-licence, loan, alter, translate, merge, adapt, vary, or modify the WLP.
3.4 You acknowledge that the WLP has not been developed to your individual requirements and that it is your responsibility to ensure that the facilities and functions of the WLP meets your requirements.
3.5 The WLP is only supplied for remittance use. You agree not to use the WLP for any speculative trading, commercial, business or resale purposes and IPAY has no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
3.6 In relation to your use of the WLP, to the fullest extent permitted by the law, IPAY will not be liable for:
- Your failure to check on future changes to these Terms and Conditions.
- Any failure to perform the IPAY Service, losses or delays in the transmission of messages due to circumstances outside the control of IPAY including but not limited to having to comply with applicable laws, rules or regulations;
- Malfunctions in communications facilities which cannot reasonably be considered to be under the control of IPAY and that may affect the accuracy or timeliness of messages sent;
- Errors in the digital functions or with the IPAY Service caused by incomplete or incorrect information provided to IPAY by you or a third party;
- Any loss or damage you have suffered as a result of you using the digital application on a ‘jail broken’, ‘rooted’ or otherwise modified device;

4. Use of the App and How the IPAY Service is to be Provided

4.1 The Client acknowledges that the IPAY Service may not be available, in whole or in part, in certain regions, countries, or jurisdictions.
4.2 IPAY has ‘Know Your Customer’ obligations and reserves the right to approve the users based on the documentation produced by the users;
4.3 IPAY will not credit the user’s remittance with funds or be responsible for the money deposited by the user until IPAY has received the funds deposited by the users into the Bank Account; credit to account is subject to clear fund policy basis.
4.4 Using the Digital Application, the user can immediately make transfers of any amount within the threshold Value to his registered Recipient;
4.5 Each Transaction will generate a reference number which can be used by the user and client to track the status of the Transaction;

5. Transaction Limits

5.1 The Client should take responsibility of well-functioning of the Digital Application and all records of user’s payments should be reflected in their transaction history in the Digital Application. Users are responsible for reviewing their transaction activity to determine if there are any errors or unauthorised transactions, and for alerting the Client in circumstances where there is an error or unauthorised transaction.

6.Transaction History

6.1 The Client should take responsibility of well-functioning of the Digital Application and all records of user’s payments should be reflected in their transaction history in the Digital Application. Users are responsible for reviewing their transaction activity to determine if there are any errors or unauthorised transactions, and for alerting the Client in circumstances where there is an error or unauthorised transaction.
6.2 It is Client’s obligation to save a copy of users’ transactions and store their KYC irrespective of IPAY performing the KYC and record keeping. If user has cancelled the use of the Digital Application or been terminated, its client’s responsibility to safeguard the user’s details under the Privacy Act. Further clint must reserve every data of the users for the period of seven years. IPAY on the other hand, also, keeps all those record for the period of seven years.

7. Obligations and Provision of Services by IPAY

7.1 Subject to the provisions of clauses 7(b) to 7(d) below, IPAY will provide the IPAY Service;
7.2 PAY will hold funds transferred by you to the Bank Account;
7.3 IPAY is obliged to collect personal information to identify and verify users pursuant to clause 13 below;
7.4 At any stage, IPAY may at its sole discretion, elect to cancel a Transaction. If IPAY cancels a transaction, it will (subject to not being prohibited by law from doing so) refund to the Client, the Transaction Amount received without assigning any reasons. Further Client can refund to the user;

8. Protection of Digital Application

8.1 You are solely responsible for maintaining the security of your Digital Application including your Touch ID and Face ID system and the user’s information. The users are responsible to secure their passcode to their mobile telephone and any other authentication credentials used in connection with the use of the Digital Application (collectively the “Credentials”);
8.2 Users must change their passwords regularly and ensure that it is not reused in connection with any other online accounts; and must not share with any other person at all;
8.3 Users are not allowed to give access of the Digital Application to third party at all. However, If users provide access to or allow a third party to use their Credentials and the Digital Application, this third party may be able to make access and use funds held in their Digital Application. IPAY, in such an event, will not be responsible; including obligation arising legally;
8.4 Any transaction made using users Digital Application is deemed to be received from the registered user.
8.5 Users indemnify and hold it harmless from all losses sustained by users and resulting from any misuse of the Digital Application howsoever arising (whether by a third-party accessing users Digital Application or otherwise).

9. Refusal or Cancellation of a Transaction

9.1 At its absolute discretion, IPAY may refuse or cancel any Transaction;
9.2 In the event that IPAY believes that the Transaction would violate anti-money laundering or counter-terrorism financing laws and regulations it may refuse or cancel a Transaction;
9.3 Where IPAY otherwise believes the Digital Application is being used, whether by the user or the Recipient, in furtherance of illegal fraudulent or unethical activities, IPAY may refuse or cancel the Transaction or Transactions and lodge a Suspicious Activity Report at the same time.
9.4Where required by law or if user or a Recipient is on a restricted or prohibited list issued from time to time by any government authorities IPAY may refuse or cancel the Transaction;
9.5IPAY may refuse to process a Transaction where it has reason to believe the security of the user Digital Application is compromised or where it suspects the unauthorised or fraudulent use of the Digital Application although at all times the Client is responsible for the safe keeping of the Digital Application and in no circumstances will be responsible for any losses sustained by the Client or user as a result of any unauthorised or fraudulent use of the Digital Application;
9.5If the user is in breach of any of his/her obligations including but not limited to not providing documents which identify the user to the satisfaction of IPAY or where IPAY has sought further information or evidence relating to the purpose of a Transaction in order to comply with its obligations under relevant laws and the user or Client has failed to provide the further information or evidence, IPAY may cancel or refuse to process a Transaction and may elect to terminate the user’s registration. It may impact the Client’s licence to use the WLP;
9.5In the event of a temporary or permanent suspension of the User’s registration, IPAY will be entitled to retain any fees incurred in association with the cancelled Transaction or Transactions
9.5 Casino, adult industry, online gaming etc are prohibited under this arrangement;

10. Cancellation and Redemption of Stored Value by Client

10.1 Users may make a request for cancellation of their registration at any time by contacting Client using the contact details. Client can further notify IPAY for the disposal.
10.2 In the event where user request a refund of the transaction Value into their Australian bank account, the Client should inform IPAY and reconcile with IPAY for the refund. The refund will not be made unless it is received in the writing via email.

11. Termination by IPAY

11.1 IPAY may end this agreement and cancel your WLP and the service associated with it by giving you three months’ prior notice.
11.2 At any stage, IPAY may at its sole discretion and without prior notice to you, elect to suspend or cancel the WLP in the event that any of the following occur:
- You breach these Terms in any way;
- Forms the view that you are in any criminal or illegal activity or in breach of any applicable law or regulation;
- Forms the view that you are involved in any fraudulent activity, money laundering, terrorism financing or are in any way in breach of any provision of the Anti-Money Laundering and Counter Terrorism Financing Act 2006;
- Is requested to or directed to suspend or cancel the Digital Application by any competent court of law, government authority, public agency or law enforcement agency;
- suspects unauthorised or fraudulent use of your Digital Application or has reasonable concerns about the security of your Digital Application;
11.3 On termination, for any reason all rights granted to you in respect of the Digital Application are withdrawn and you must immediately terminate your service;

12. Electronic Communications

12.1 You acknowledge that these Terms and Conditions are entered into electronically, and that the following categories of information may be provided by electronic means: - These Terms and Conditions and any amendments, modifications or supplements to them;
- The records and transactions in the provision of the Service;
- Any initial, periodic or other disclosures or notices provided in connection with the Service, including without limitation those required by law;
- Any customer service communications, including without limitation communications with respect to claims of error or unauthorised use of the Service; and
- Any other communication related to the WLP;

13. Collection of Information

13.1 Australian law requires all financial institutions or entities dealing with money to assist in the fight against money laundering activities and the funding of terrorism by obtaining, verifying and recording identifying information about all customers. IPAY may therefore require you to supply personal identifying information relating to your Users and the Recipients and may also consult other sources to obtain information about your Users and the recipients;
13.2 In the collection of information from you IPAY is subject to the provisions of the Privacy Act 1988 (C’th) and the Privacy Acts relevant to each state in Australia;
13.3 IPAY is required to and has a Privacy Policy as set out on its website and may be required by law to provide information about your Users, their use of the Service and their instructions to government or other competent authorities or law enforcement agencies anywhere in the world;
13.4 IPAY may, as necessary in providing the Service, store all information required of a Recipient to prove his or her identity or associated with the Recipient’s specific instruction. Such proofs may include a suitable form of valid, unexpired identification from a list of acceptable papers provided by a Service Provider and /or a transaction tracking number, a personal identification number (PIN), a password, a secret word, or other similar identifiers. IPAY will store such information on encrypted basis;
13.5 IPAY may, in order for you to provide the Digital Application for international money transfers, be obliged to share personal information collected from your Users pursuant to this clause with law enforcement agencies worldwide;

14. Intellectual Property

14.1 Copyright in the App, the IPAY website and the IPAY Service, the content, and all intellectual property relating to them and contained in them is the property of IPAY;
14.2 You are not permitted to duplicate, publish, modify, create derivative works from, participate in the transfer or sale of, post on the internet, or in any way distribute or exploit the IPAY website, the IPAY Service or any portion thereof for any public or commercial use without the express written consent of IPAY;
14.3 You are not permitted to use any robot, spider, scraper or other automated device to access the IPAY website or the WLP or to in any way remove or alter any copyright, trademark or other proprietary notice or legend displayed on the IPAY website or any pages you have printed from the IPAY website;
14.4 The name “Transcash International Pty. Ltd.” and other names and indicia of ownership of Transcash International Pty Ltd.’s products and/or services referred to on the IPAY website are exclusive marks owned by IPAY and you are not authorised to use, copy or reproduce them in any way.

15. Warranties, Liability and Indemnity

15.1 IPAY does not accept liability for any of the following:
- Any failure to perform the WLP Service as a result of circumstances which could reasonably be considered to be abnormal or unforeseen or outside the control of IPAY or the result of obligations under any applicable laws, rules or regulations;
- Malfunctions in communications facilities which cannot reasonably be considered to be under the control of IPAY and that may affect the accuracy or timeliness of messages you send to IPAY;
- Any losses or delays in transmission of messages arising out of the use of any internet or telecommunications service provider or caused by any browser or other software which is not under the control of IPAY;
- Errors on the WLP or with the connected service caused by incomplete or incorrect information supplied to IPAY by you, your users or a third party;
- Losses arising from an unauthorised transaction or any other unauthorised use of the Digital Application where the User has acted fraudulently or negligently;
15.2 You agree to indemnify and hold harmless, IPAY, its officers, staffs or agents and employees from all loss, damage, claims, actions or demands including reasonable legal fees, arising out of your misuse of the WLP and its connected service, all activities that occur under your password or account email login, your violation of these Terms and Conditions or any other violation by you or your users of the rights of a third party.

16. Entire agreement

16.1 This agreement is the entire agreement and understanding between the parties on everything connected with the subject matter of this terms and conditions, and supersedes any prior understanding, arrangement, representation, or agreements between the parties as to the subject matter contained in this agreement.

17. Amendment

17.1 IPAY may (but you have no right to) modify these Terms and Conditions from time to time. IPAY will notify you at least 7 days before, except as required by law. After IPAY notifies you of the amendment, you must give the consent in the writing. Consent after the effective date of an amendment or modification, you shall be deemed to have accepted that amendment or modification.

18. Waiver

18.1 Any waiver by any party to a breach of this agreement shall not be deemed to be a waiver of a subsequent breach of the same or of a different kind.

19. Events beyond control

19.1 Neither party shall be liable to the other party for any loss caused by any failure to observe the terms and conditions of this agreement, where such failure is occasioned by causes beyond its reasonable control including but not limited to by fire, flood, riot, strike, war, restrictions and prohibitions or any other actions by any government or semi government authorities.

20 Communications with IPAY

20.1 If anything in this terms and conditions is unenforceable, illegal or void, it is severed and the rest of the terms and conditions remain in force.
- If you have any complaint about the WLP and its connected service, please email us at transcash.tci@ipayremit.com.
- If you receive any emails purporting to be from IPAY which you suspect may be ‘phishing’ (fake) emails, please forward these to transcash.tci@ipayremit.com
- Any questions, notices and requests for refunds or further information should be sent to IPAY via email at groupoperations@ipayremit.com

21 Governing Law

21.1 This agreement is governed by the laws of New South Wales. Each of the parties irrevocably submits to the jurisdiction of the courts of New South Wales and the Commonwealth.

The headquarter parent company of Transcash International Pty. Ltd. is registered in Singapore. Therefore, the operating procedures of a Money Service Business for the management of its compliance protocol may be affected by the regulation of Singapore to intervene on the Anti Money Laundering and Counter Terrorism Financing rules.
Note The data protection policy of Singapore safeguards the privacy of the customers. However, as per the compliance requirement, ISEND has a triparty agreement with a Data Verification System (DVS) which manages the identification and verification of the customers, proposed customers including the registered customers to establish the process of a compliant system that functions under the guidelines of Monetary Authority of Singapore (MAS) on the Anti Money Laundering and Counter Terrorism Financing laws. ISEND is obliged to file the suspicious transaction reporting for any matter of suspicion or a doubt of suspicion that has been raised while actioning the proposed transactional activity of its customers. Additionally, as per the notice of Monetary Authority of Singapore (MAS) regarding the newly proposed guidelines of PSNO1 and PSNO2, each transactional activity of customers, whether proposed, discarded or completed, are recorded for up to seven years from the date of activity. In the instance of any kind of inquiry from the regulatory body including any Government organization operating under MAS, that may relate to the transactional activity, the same may be provided without pre information to the customer.