Assessment Fee - Terms & Conditions

Paylab Terms and Conditions

1. Introduction

These terms and conditions (the "Terms") govern your use of Paylab’s services and platform (the "Paylab Platform"). The services provided include access to wage advances, rewards, and related services offered to both businesses (B2B) and individual consumers (B2C). By using the Paylab Platform, you agree to be bound by these Terms.

If you are a business, these Terms apply to your use as an employer who offers services to your employees. If you are a consumer, these Terms apply to your access to Paylab’s services as an individual employee.

These Terms also ensure compliance with Paylab's obligations under the Regulatory Guide RG274 and the Debt Collection Guidelines issued by the Australian Securities & Investments Commission (ASIC).

2. Definitions and Interpretation

In these Terms, unless otherwise indicated, the following definitions apply:

• B2B Customer: An employer who offers Paylab services to employees.

• B2C Customer: An individual consumer (employee) who accesses Paylab services.

• Account: The Paylab account created by the user to access services.

• Available Pay: The amount of wages an employee can access before their next payday.

• Payment Request: A request by a consumer to access a portion of their earned wages.

• Gift Cards: Prepaid cards available for purchase through the Paylab Platform, used for retail purchases.

3. General Terms for B2B Customers

3.1 Eligibility and Registration

To register as a B2B customer, the employer must meet the following criteria:

• Be a legal entity operating in Australia.

• Provide Paylab services to employees through the Paylab Platform.

Employers must create an account on the Paylab Platform by completing the registration form and providing required details. Employers authorize Paylab to access employee data, including payroll information, for the purpose of facilitating Paylab services.

3.2 Employer Responsibilities

As an employer, you are responsible for:

• Facilitating employee access to Paylab services.

• Ensuring accurate payroll data is provided to Paylab.

• Ensuring that employees are paid their wages and that any wage advances provided by Paylab are reimbursed as per the agreed schedule.

3.3 Payment and Repayment Terms

Employers agree to deduct any amounts advanced to employees from their wages and remit these payments to Paylab as agreed. In case of termination of an employee’s employment, employers must ensure the repayment of any outstanding balances due to Paylab.

4. General Terms for B2C Customers

4.1 Eligibility Criteria

To register as a B2C customer, you must:

• Be over 18 years of age.

• Be an employee earning regular wages paid into an Australian bank account. (Paylab Advance)

• Provide truthful and complete registration information, including personal details and bank account information.

• Hold a current Australian Drivers License or Australian Passport and be an Australian citizen or permanent resident.   (Paylab Advance) 

4.2 Registration Process

To access Paylab services, you must complete the registration process on the Paylab Platform and agree to these Terms. You will be required to provide personal information and may be asked for additional documentation to verify your identity including bank account transaction data to support your ability to repay the Paylab Advance and determine when this best occurs within your pay cycle.

4.3 Advance Services and Gift Cards

If provided as a feature, consumers can request advances on their wages (up to their Available Pay) and purchase gift cards for use at participating retailers. You must ensure that the amount requested does not exceed your Available Pay or Paylab Advance limit. If this feature is not enabled, earned wage advances will be deposited to your disclosed bank account from where you determine the use of these funds.

5. Fee Structure

• Application Fee: An application fee of $5 will be charged at time of application through the Paylab App. and covers the costs associated with loan assessment through the Paylab Advance process.

• Withdrawal Fees: A 5% fee will be applied to each Paylab Advance loan, as clearly stated on the Paylab Platform.

• Card Payment Surcharge: A surcharge may apply to payments made by credit or debit card, to cover the cost of processing.

Fees may be updated by Paylab with at least 20 days’ written notice, and such changes will only apply to new requests made after the change.

6. Compliance and Regulatory Obligations

6.1 RG274 Compliance

Paylab will provide clear disclosures regarding fees, terms of use, and credit risk assessments to ensure compliance with Regulatory Guide RG274. Consumers will be informed of all fees and charges before accessing services.

6.2 Debt Collection Guidelines

Paylab adheres to the Debt Collection Guidelines issued by ASIC. We will ensure:

• Clear communication with customers regarding overdue balances.

• Avoidance of undue pressure when collecting debts.

• Providing opportunities for customers to address financial hardship.

7. Data Privacy and Security

Paylab is committed to protecting your personal information in accordance with our Privacy Policy. We collect and use personal information to provide our services and meet regulatory requirements. By using the Paylab Platform, you consent to our collection and use of your data as outlined in the Privacy Policy.

8. Consumer Protection

8.1 Refund and Cancellation Policies

Consumers can request refunds only in cases where the service was not provided as agreed or there was an error on the Paylab Platform. Refunds for gift card purchases are subject to the retailer’s terms.

8.2 Dispute Resolution

If you have a dispute regarding any of our services, please contact our customer support team. We will work with you to resolve the issue in accordance with applicable laws and the Australian Consumer Law.

9. Account Termination and Suspension

Paylab may suspend or terminate your access to the Paylab Platform if:

• You breach any of the Terms.

• You engage in fraudulent activity or misconduct.

• Your account has been inactive for 180 days or more.

• You fail to meet the repayment obligations as agreed.

10. Liabilities and Disclaimers

Except as otherwise provided in these Terms, Paylab’s services are provided "as is", without warranties of any kind. We disclaim all liability for indirect or consequential damages resulting from the use of the Paylab Platform.

11. Payment and Verification Providers

Paylab utilises the services of digital payment solutions providers Zepto Payments Pty Ltd ABN 61 604 057 598 (Zepto), to procure the payment of loan funds to you. Your Personal Information will be provided to Zepto for the purposes of providing the digital payment solutions to you, and will be disclosed, collected, held and used by Zepto in accordance with their respective privacy policies. Zepto's privacy policy can be found here.

Illion and Green ID are utlised for the verification of your financial …… 

You request and authorise Zepto Payments Pty Ltd (User ID #454146, 492448, 500298, 507533, 518403, 518404, 531942, 543948, 543950, 543949, 543954, 543947, 543955, 543956, 543957, 543958, 543962, 600993, 600994, 600995, 600996, 600997, 600998, 600999, 601001, 601002, 601003, 601004, 601005, 601006, 601007, 601008, 612056, 612057, 613600, 613601, 613602, 613603, 613604, 613605, 613606, 613607, 613608, 613609) ("Zepto") on behalf of the Payment Initiator with whom you have a direct debit agreement, to arrange through its own financial institution, to debit from your nominated account any amount the Payment Initiator has deemed payable by you.

This debit or charge will be made through the Bulk Electronic Clearing System (BECS) from your account held at the financial institution you have nominated and will be subject to the terms and conditions of the Direct Debit Request Service Agreement.

Zepto Payments does not accept any liability for the provision, merchantable quality or fitness for purpose of the underlying goods or services provided to the User by the Payment Initiator and/or merchant and therefore the User holds Zepto Payments harmless for any claim that may arise from the non-provision of services by the Payment Initiator and/or merchant or any other claim that may be made against the Payment Initiator and/or merchant under Consumer Law.

1. INITIAL TERMS By agreeing to a Direct Debit Request, Zepto will debit your nominated account for the amounts and at the frequency of payments as agreed between you and the Payment Initiator. Zepto has been contracted by the Payment Initiator to collect direct debit payments from you and does not provide any goods or services to you.  

2. CHANGE OF TERMS The terms of this Agreement or a DDR may be varied at any time by giving you at least 30 days’ written notice. This is managed through the Zepto Platform.

3. DEFERRING OR STOPPING A PAYMENT Should you wish to defer a payment to another date you must contact the Payment Initiator before the date of that payment to request the deferment. Deferments are entirely at the discretion of the Payment Initiator. You may request to stop an individual payment through the Zepto platform however you will still be liable to make this payment to the Payment Initiator.

4. ALTERING THE SCHEDULE Should you wish to alter the payment frequency or Day to Debit contact the Payment Initiator. Altering schedule is solely at the discretion of the Payment Initiator. The Payment Initiator may charge a fee for this service. The Payment Initiator shall notify you of these fees. Any changes made will not affect the total amount you would otherwise have paid over the minimum term of your Contract.

5. CANCELLING THE PAYMENTS You can cancel this Direct Debit Request Authority at any time by contacting the Payment Initiator or Zepto. Cancellation of the authority to debit your account will not terminate your contract or remove your liability to make the payments you have agreed to with the Payment Initiator.

6. LIABILITY If you stop or cancel either a DDR or an individual debit payment as a result of a variation to the terms of this Direct Debit Service Agreement or a DDR by Zepto or the Payment Initiator, no penalty will be imposed on you.

7. DISPUTES If you dispute any debit payment, you must notify the Payment Initiator immediately. The Payment Initiator will respond to your dispute within 7 working days and will immediately refund the amount of the debit if they are not able to substantiate the reason for it. If you do not receive a satisfactory response from the Payment Initiator to your dispute, contact Zepto who will respond to you with an answer to your claim within 5 business days if your claim is lodged within 12 months of the disputed drawing, or within 30 business days if your claim is lodged after 12 months from the disputed drawing.

8. BUSINESS DAYS When the day to debit falls on a weekend or public holiday the debit will be initiated on the next business day.

9. DISHONOURED PAYMENTS It is your responsibility to ensure that on the due date clear funds are available in your nominated account to meet the direct debit payment. Should your payment be dishonoured, you authorise Zepto to debit your account when clear funds become available in your nominated bank account.

10. ENQUIRIES Please direct enquiries to support@zepto.com.au.

11. PRIVACY Zepto will keep information relating to your nominated account confidential in accordance with Zepto’s Privacy Policy, available at zepto.com.au/privacy.

12. YOUR OTHER RESPONSIBILITIES In addition to those already mentioned, you are responsible for ensuring that your nominated account is able to accept direct debits. If it is not, it is your responsibility to provide Zepto with a new account number.

As part of registering an account and using Paylab’s products, we are required to verify your identity utilising one of our partners, Green ID and Illion’s online tools. By consenting an identity verification, you agree to the following terms:

By proceeding with online identity verification, for the purpose of you verifying my identity, I _______________________________: 

• consent to the collection, use and disclosure of my name, residential address, and date of birth (personal information) in accordance with Paylab’s Privacy Policy

• consent to my personal information being disclosed to a credit reporting agency for the purpose of verifying my identity. This is not a credit check and does not affect your credit score.

• consent to my personal information being checked with the document issuer or official record holder via third party systems in connection with a request to verify my identity in accordance with the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML/CTF Act).

Consent to my personal information being disclosed to your verification agent(s), which will act as my intermediary, for the purpose of exercising my right, under the Australian Privacy Act 1988, to access personal information lawfully held about me by third parties. I consent to those third parties using my personal information for the purpose of monitoring and improving their verification services.

In accordance to these terms, you confirm that you:

Are authorised to provide the personal information presented, including details of your identity documents; and

Declare, to the best of your knowledge that the information you have provided is true and correct at the date of this declaration

Understand that providing false or misleading information is an offence under the the AML/CTF Act.

Paylab may utilise these services in accordance with the above terms at any time in the assessment of the Paylab Advance loan, in an attempt to recoup payment in the case of late payment or in the course of our determination of your ability to repay a Paylab Advance loan or to remain eligible for a Paylab Advance loan through your Paylab application account.

12. Amendments to Terms

Paylab reserves the right to amend these Terms at any time. Any changes will be posted on the Paylab Platform, and you will be notified accordingly. Continued use of the Paylab Platform after any changes constitutes acceptance of the revised Terms.

13. Governing Law

These Terms are governed by the laws of Australia. Any disputes arising out of or in connection with these Terms shall be resolved under the jurisdiction of Sydney, New South Wales, Australian courts.