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Company  —


Privacy Policy
Terms & Conditions
Combined FSG and PDS
Services Agreement
End User Agreement
BPAY Payer Terms
Debit & ACH Agreement
Restricted Businesses

Combined FSG and PDS

Effective as of 1 July 2021

This document comprises two parts. Part A is our financial services guide (“FSG”), which tells you about the financial services we offer and is designed to help you decide whether to use them, and Part B is the product disclosure statement (“PDS”), which tells you about the BPAY Payment product. Information relevant to both the FSG and PDS may be included in one part and incorporated by reference in the other. 

In this document, we, us, our or Zai means Zai Australia Pty. Ltd. (ABN 96 637 632 645). We provide products and services under our Australian Financial Services Licence No.527370.

PART A: Financial Services Guide

This FSG contains information about:
• The financial products and services we provide
• The benefits paid to us and others in connection with our services
• Our dispute resolution processes and how you can access them

Zai is a financial services business which can provide you with general advice on, and arrange for you to be issued with, deposit and payments products (limited to non-cash payment products) (“Services”).

We predominantly provide services as follows: 
• We allow online platforms and marketplaces (“Platforms”) to automate how they receive, manage and pay funds across a large number of payment methods including BPAY, Direct Entry, direct debit, credit cards and NPP. We provide this service via our API (defined below).  
• We allow customers of the Platform (“End Users”) to receive money and in certain circumstances to make payments including the BPAY Payment product.

2. How to contact us

Our contact details are: 

Telephone: 1300 047 883 
Post: 17/31 Queen St, Melbourne VIC 3000

3. Instructing Us

Platforms primarily communicate with us via API, dashboard or other user interfaces but may also give us instructions via telephone, in person, or through email. 

End Users can give us instructions via the relevant Platform.

4. Our advice policy

Our sales representatives will tell you about our own products, but are not authorised to give financial product advice. In particular, we will never give you personal advice which takes into account your individual objectives, financial situation or needs.

Whenever we provide you with general advice about our products and services, you should consider whether our products and services are appropriate for your particular financial circumstances and requirements and consider the relevant PDS.

5. Other Documents you may receive

a) Product Disclosure Statement
We will provide you with a PDS (where required by law) if we arrange for you to be issued with a financial product (or make an offer to arrange). The PDS contains information to help you make an informed decision about whether you wish to acquire the financial product. It includes information about the financial product such as fees payable, risks, benefits and significant characteristics. 

We recommend that you read and consider the PDS before making any decision about whether to acquire any financial product. 

A copy of the PDS for our BPAY Payment product is provided below. 

b) General Terms and Conditions
In order to arrange for you to acquire a financial product, we may provide you with additional documentation to facilitate your request. For example, these documents may include agreements, terms and conditions and transaction documents. 

Services to End Users are governed by the End User Agreement and services to Platforms by the Platform Services Agreement which are available online at  

The Platform Services Agreement will be supplemented by a separate signed document with agreed fees to be charged, and which may also vary certain terms and/or impose additional terms.

6. Remuneration and Referrals

a) Platforms 
Platforms are charged fees as set out in their Platform Services Agreement. 

b) End Users 
End Users will be charged as set out in their agreement with their Platform.  

c) Staff Remuneration
Staff members of Zai are salaried employees who receive a salary, plus superannuation. Staff may also receive bonuses and other benefits from time to time.  

d) Third-party referrals
If you have been referred to us by a third party, we may have an arrangement with that third party to pay remuneration (including a commission) for the referral.

7. Making a Complaint

If you are unhappy with us and would like to raise any concerns or complaints, please email us at or contact us by post at:
Level 18, 15 William Street, Melbourne, Victoria 3000.
End Users may also contact their Platform. 

We’ll acknowledge your complaint as soon as practicable (and in any event, within 5 business days) and aim to resolve your complaint within 45 days.  

If you’re not satisfied with our response, you can contact the Australian Financial Complaints Authority (AFCA) (an independent and free dispute resolution body). Before AFCA can investigate the matter, you must have first given us the opportunity to review it.  

The contact details for AFCA are:
Australian Financial Complaints Authority
1800 931 678 (free call)
GPO Box 3, Melbourne, VIC 3001

8. Professional Indemnity Insurance

Zai maintains professional indemnity insurance, which meet the requirements of s912B of the Corporations Act, covering the financial products and services we provide, including any claims in relation to the conduct of our former representatives or employees.

9. Privacy Policy

Zai is committed to protecting your privacy. We have systems and processes in place which safeguard against the unauthorised use or disclosure of your personal information. Please contact us if you have any concerns.

A copy of our privacy statement is available online at

PART B: Product Disclosure Statement

This Product Disclosure Statement (PDS) is an important document. It is designed to provide you with important information regarding the BPAY Payment product. An overview of the benefits and risks is provided in Section 4, below. 

This PDS provides information in relation to BPAY Payment to assist you in making an informed decision about whether our Services are appropriate to you. 

Please read all of this PDS (and your End User Agreement or Platform Services Agreement, as applicable) carefully before deciding whether to BPAY Payment. You may find further information about the Services online at

The information in this PDS is current as of the date of issue. The information in this PDS may change from time to time. You should check whether you have the most up to date version before using the Services. If the change is not materially adverse to you, we may also display the change on our website at  

On your request, we will give you a paper or electronic copy of any updated information without charge. 

For information on how we handle complaints and for contact details for us, please refer to the FSG (above).

1. BPAY Payment

BPAY Payment is a payment facility to allow Platforms or End Users to make payments using BPAY, an electronic bill paying system. 

Zai is not a bank and does not offer banking services. We receive and pay funds on your behalf and in accordance with your instructions when such funds are settled by the Banking Partner. Zai holds your funds on trust on your behalf separately from its corporate funds.

2. Client Agreement

Platforms must sign a Platform Services Agreement with us. This will usually incorporate the standard Platform Services Agreement terms hosted on our website at, along with agreed fees. It may also contain other terms. Platforms will undertake an onboarding process and integrate their system with our API. 

End Users who make BPAY Payments will be required as part of their onboarding with the Platform to agree to Zai's standard End User Agreement and BPAY Payer Terms hosted on our website.  

We recommend that you consider seeking independent legal advice before entering into either the Platform Services Agreement or the End User Agreement, as the terms and conditions are important and affect your dealings with us. 

Information contained in this PDS is general only and does not constitute a recommendation, advice or opinion. It does not take into account your individual objectives, financial situation, needs or circumstances. We strongly recommend that you obtain your own legal, tax and investment advice, taking into account your particular needs and financial circumstances. 

3. Registration and Identification

In accordance with the Anti Money Laundering and Counter Terrorism Financing Legislation (“AML Legislation”), 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.

4. The Benefits and Risks Associated with Zai's Services

a) Key Benefits 

The advantages of Zai's Services include: 

• APIs automate your pay ins and payouts so customers get paid in a timely manner, while friction-free back office processes win your business time back to focus on your user on-platform experience.
• Flexible and customisable, supports many different workflows.
• Zai has the highest level of PCI-DSS certification, so payments are handled securely.
• You can configure simple one-to-one or multi-party payouts. An end-to-end solution that scales with the business, connecting every vendor and buyer on your platform.
• Multiple payment methods are accepted, and payouts can be made and cleared without delays.
• Faster payments mean fewer inbound customer support tickets.
• End Users can get paid quickly and securely through their Platform. 

b) Key Risks 

The risks associated with the Zai Services include: 

• The accounts from which payments are taken may not have sufficient funds and the transaction may be rejected.
• Account details provided to you which you pass to Zai for either debiting or crediting may be incorrect or outdated resulting in unsuccessful transactions.
• A customer may dispute a charge or debit that has been processed and you will be required to refund any amounts required to be returned to the customer.
• Use of the service may be disrupted from time to time if third-party processors (banks, credit unions, etc) or systems such as BPAY experience system failures or down time.
• Use of the service may be disrupted from time to time because of scheduled and unscheduled outages. Zai will take all reasonable step to reduce outages.
• Failing to take adequate security precautions may result in unauthorised persons gaining access to your account and processing unauthorised transactions. You should take proper precautions to protect your password and/or security details.
• You will be liable for any unauthorised payments on the account and you should take precautions to protect account access.
• We rely on our Banking Partners to process transactions. Funds collected from transactions are initially held in the Zai account. There is a risk that the Banking Partner may default in performance of a remittance which may result in the unexpected cancellation or delay of your transaction.

5. Fees and charges

The fees charged for our BPAY Payment services are outlined in the table below. All prices indicated are exclusive of GST.

BPAY Payment (exclusive of GST)


When charged

Starting from

BPAY Payouts (BPAY Payer)
For every transaction made to  a BPAY Biller Code the following fee is applicable.
BPAY Error Correction
If an error correction is raised by the sending or receiving bank, other BPAY participating institution or the end user acting as the sender or receiver of a BPAY payment, the following fee is applicable.

Fees are charged to Platforms, but each Platform may decide whether and to what extent to pass fees on to End Users. Any fees charged to End Users will be set out in their agreement with the relevant Platform. 

Fees are either invoiced to you or automatically charged to your account as and when the fee is incurred. 

Your funds may be held within Zai's account pending disbursement to you or a third party. Any interest earned in the Zai account is retained by Zai. 

Taxation Considerations
Using Zai Services may have tax implications. The taxation consequences can be complex and will differ for each individual’s financial circumstances. We recommend that you obtain independent taxation and accounting advice on your particular financial situation.

6. Privacy

Zai is committed to protecting your privacy. The information you provide to Zai and any other information provided by you in connection with the Services will primarily be used for providing you with the Services and for complying with certain laws and regulations. We have systems and processes in place which safeguard against the unauthorised use or disclosure of your personal information. Please contact us if you have any concerns.

A copy of our privacy statement is available online at

7. Key terms

API: means Zai's front-end integration and Application Programming Interface. 

means Zai Australia Pty Ltd (ACN 96 637 632645) 

Banking Partner: means Cuscal Limited or any other bank as nominated by Zai from time to time which supports Zai's Services with infrastructure and services for the processing of transactions. 

means the electronic payments service operated by BPAY Pty Limited, ABN 60 079 137 518 

BPAY Payment:
means a payment facility to allow End Users to make payments using BPAY.
Direct Entry:
means a facility to direct debit and direct credit bank accounts. 

means the New Payments Platform which is an open infrastructure platform which facilitates fast payments in Australia. 

means The Payment Card Industry Data Security Standard, which is a set of requirements intended to ensure that all companies that process, store, or transmit credit card information maintain a secure environment.