Combined Financial Services Guide & Product Disclosure Statement

Financial Services Guide

This Financial Services Guide (“FSG”) is an important document which we are required to give you to assist you in deciding whether to use the financial services we provide.

This FSG outlines:

1. the types of services and products we can offer to you;
2. how we, and other relevant persons, are remunerated for these services; and
3. includes details of our internal and external complaints handling procedures and how you can access them.

To utilise any of the financial products outlined in this FSG, you must review and consider the Product Disclosure Statement (“PDS”) relevant to that product and complete the relevant Application Form. The PDS contains important information about the particular product or service and will assist you in making an informed decision about that product or service.

Who are we? Who will provide the financial services?

Billzy Pty Ltd (ABN 26 602 796 298) (“Billzy”) is the holder of Australian Financial Services Licence (“AFSL”) No. 494176. All financial products and services will be provided by Billzy. Billzy acts on its own behalf when Billzy and its employees provide the financial services to you.

All references to “Billzy”, “us”, “we” or “our” in this FSG shall refer to these entities as discussed above.

About the Billzy community

Billzy is developing an online community of businesses owners who have the opportunity to operate as Billzy Merchants in a range of industry segments. The online community will consist of members who have common interests, goals and problems. We specifically seek to identify financial friction points to assist with business efficiency and improvements to cashflow and business sustainability.

Billzy seeks to increase its products as it is committed to creating a vibrant community that identifies and addresses many of the problems and obstacles that make it hard for businesses to receive and process payments, improving cashflow.

How to Contact Us

Our contact details are as follows:

Billzy Pty Ltd

PO Box 582, Southport, Qld, 4215

Telephone: 1300BILLZY (1300 245 599)

Email:

[email protected]

What products and services do we offer?

Billzy, pursuant to the conditions of the Australian Financial Services Licence, is authorised to:

1. a) provide general financial product advice for non-cash payment products; and
2. b) issue, apply for, acquire, vary or dispose of non-cash payment products to retail and wholesale clients.

This document is a summary of the services Billzy is permitted to provide and full details of the conditions applicable to the AFSL are available upon request.

Billzy’s services may vary from time to time and you should refer to the current PDS issued by Billzy and hosted on our website for further information of the specific products and services provided.

Billzy provides general advice only and does not take into account of your particular objectives, financial situation or needs. There is a risk that the products and services described may not be appropriate for you.

Prior to acquiring any financial products and services, you should carefully consider those products and services and consider seeking independent advice before making a decision about whether or not the products and services are suitable for your particular objectives, financial situation and needs.

How do you do business with us?

The following PDS outlines the procedures for acquiring or utilising a particular product or service we offer. Please refer to the PDS as to how a particular product or service is administered.

In accordance with the Anti Money Laundering and Counter Terrorism Financing Legislation (“AML Legislation”), our Services cannot be provided to you until we have undertaken certain identification procedures to establish your identity.

We may be required pursuant to the AML Legislation to reconfirm your identity and personal details at any time and you agree to supply any reasonably specified identification documentation within a reasonable period of time if requested by us. Failure to provide any reasonably requested identification documentation to us may result in our being required to suspend your account until the requested documentation has been provided.

How are you charged for our products and services?

Billzy charges fees for products and services it provides to you. Details of fees and charges we receive for providing the products and services will be contained in the PDS Schedule A – Fee Schedule for those products.

Benefits received by Billzy

In addition to the fees described Schedule A – Fee Schedule, we do not receive any additional benefits as a result of you utilising the products or services outlined in this FSG.

Remuneration or other benefits received by our staff

Generally, our staff are salaried employees and do not receive any commissions or fees calculated by reference to the sale of products or services referred to in this FSG. Sales representatives may receive a sales commission based on the volume of sales and the level of revenue generated from such sales, which may vary from time to time. Our sales representatives will tell you about our own products but are not authorised to give financial product advice and will not give you personal advice which takes into account your individual objectives, financial situation or needs.

You may request further particulars of these commissions by contacting us on the details above.

However, such a request must be made within a reasonable time after you have been provided with this FSG and before any financial service identified in this FSG has been provided to you.

Benefits to other parties

If you have been referred to Billzy by a third party, we may have an arrangement with that third party that may result in remuneration, including a commission, being paid to that third party. Such remuneration will generally be calculated by reference to the quantity of services provided by Billzy to you or the level of revenue generated as a result of you utilising the products or services identified in this FSG. You may request further particulars of these payments by contacting us on the details above. However, such a request must be made within a reasonable time after you have been provided with this FSG and before any financial service identified in this FSG has been provided to you.

How do we protect the information you give us?

At Billzy, the privacy of your personal information is important to us. All personal information collected will be handled in accordance with our Privacy Policy. Our Privacy Policy details how we comply with the requirements of the Privacy Act in the handling of your personal information.

Our Privacy Policy, outlining exactly how we go about protecting your rights and privacy, can be viewed at www.billzy.com or a copy can be sent to you upon request.

Your rights include full access to the personal information held concerning yourself. You may request a copy of this information or further information about our privacy practices by contacting our Privacy

Officer by emailing [email protected].

For further information regarding your rights visit the Australian Privacy Commissioner’s web site at www.privacy.gov.au.

Complaint and dispute resolution

If you have a concern or complaint about any aspect of the products or services referred to in this FSG, please contact us at:

Email:  [email protected]

Mail:  PO Box 582, Southport, Qld, 4215

Phone:  1300BILLZY (1300 245 599)

We will acknowledge your complaint within 5 business days, give proper consideration to the matter, determine an appropriate response and communicate a final written decision within 30 days after receiving your complaint.

Billzy is a member of the Australian Financial Complaints Authority (“AFCA”). Our member number is 40513.

If you are not satisfied with your response from Billzy, or Billzy fails to resolve the complaint within 30 days, you can raise the matter with AFCA.

AFCA can be contacted at:

Website: www.afca.org.au

Email: [email protected]

Phone: 1800 931 678 (free call)

Address: Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Professional indemnity insurance

Billzy has professional indemnity insurance arrangements in place for compensating persons who

suffer loss or damage as a result of us breaching our obligations under the Corporations Act 2001

(Cth) (herein referred to as the Act).

These professional indemnity insurance arrangements comply with our legal obligations under the

Act. Additional information in relation to Billzy’s professional indemnity insurance arrangements is

available upon request.

Product Disclosure Statement

A Product Disclosure Statement (“PDS”) provides information in relation to financial products and services, in order to enable you to make an informed decision about whether the particular products and/or services offered will meet your needs. The information will also assist you when comparing the particular financial products and services with other services that are of a similar type that you may be considering.

The particular functions, benefits and risks in relation to the Services are discussed later in this PDS. If you wish to receive any further information in relation to this PDS or the Services, please contact Billzy on the details outlined above.

Billzy Direct Debit System

Once your bank account is verified, each Billzy Merchant is able to accept Card Transactions and Direct Debit Transactions as payment for goods or services provided by the Billzy Merchant to its customers.

The maximum card transaction value is capped at $25,000, to protect both you and Billzy.

As each payment is made, it passes through Billzy’s Client Distribution account. This is done so that we can ensure that all money is accounted for and reconciled.

Billzy BPAY Payment System

Billzy’s BPAY Payment System allows you to accept payments using the BPAY system. If you choose this service, we will provide you with a unique biller code.

Benefits of using Billzy Offering Card facilities.

As a Billzy Merchant you may become a card merchant without the usual intrusive process of approval through an acquiring bank. You may qualify to receive card transactions up to $25,000.

The main benefits of using our Payment System are:

Flexibility and convenience.

You can send payment instructions at any time, including outside business hours.

Security.

All payments can be completed without the need to re-enter bank account or Card details.

Efficiency.

The Payment System is designed to save you time.

Record keeping.

All transactions are recorded, including details of all invoices paid. Note, you will lose access to these records if you close your account with us.

Fees.

Fees may apply refer to Schedule A – Fee Schedule.

Risks of using Billzy

We are an operating business like any other and relying on our services may present some risks to Billzy Merchants:

• The account from which Direct Debits are to be taken may not have sufficient funds or credit balance and therefore the debit transaction may be refused;

• Your customer may dispute or chargeback a debit that has been processed which may be subject to a refund;

• If you did not verify the bank account of your customer or hold the account holder’s authority, the payment may be subject to a dispute and you may be required to return the funds to the account holder;

• There is a low risk of the Billzy platform being unavailable, as it operates on a cloud-based service with multiple redundancy;

• There is a medium risk of Billzy being subject to a security breach as it is PCI DSS compliant and secure.

Fees and charges

Full details of the fees and charges payable are set out in Schedule A – Fee Schedule. You can choose to pay certain fees, or you may pass on these fees to the customer as detailed in the Application Form or Letter of Offer.

The fees, charges and other information contained in the Fee Schedule are in force at the date of this PDS and subject to change in accordance with the terms of this PDS. Billzy may waive, vary or reduce the fees and charges in certain circumstances.

Terms and conditions

As a Billzy Merchant, you are required to read and consider the terms of this combined FSG and PDS. You are also required to read and accept Billzy’s Merchant Rules before completing and submitting a Billzy Application Form, along with the required additional information as listed in the Application Form.

Billzy, in its discretion, may or may not agree to provide you with the Services. Your application is not accepted until Billzy has verified all of the information provided and agreed to accept your application.

Amendment

This combined FSG and PDS may be amended and in most circumstances, you will be notified of the changes electronically as an amended or supplementary FSG and PDS provided by Billzy. However, we reserve the right to update this combined FSG and PDS and host them on our website, which further updates shall be legally binding on the Billzy Merchant. We encourage you to check Billzy’s website on a regular basis regarding any amendments or updates to this document.

Schedule A – Fee Schedule

Set out below are the fees and charges payable by a Billzy Merchant in respect to transactions performed and services provided by Billzy, unless otherwise agreed.

Transaction fees

Other fees

Notes

• We will deduct the fees from your account by direct debit for financial transfers as per Billzy’s

Merchant Rules.

• If you fail to pay the fees which form part of Billzy’s Merchant Rules, Billzy reserves the right to

terminate your participation as a Billzy Merchant and continue to collect the unpaid fees.

• All fees are inclusive of GST.
• The following will appear on customer bank and card statements to indicate their payment to you as a Billzy Merchant: “BZY*YOURTRADINGNAME”