e-Pocket Product Disclosure Statement (PDS)
Last modified: June 10, 2018
This PDS sets out important information designed to assist you in deciding whether to acquire the services described in this PDS. You should read it before engaging our services and:
- Consider if the features of our products, including the benefits and drawbacks, will meet your specific objectives, financial situation or requirements; and
1.1. Product issuer name and contact details
”e-Pocket” mobile App or Web Portal is a facility provided by e-Pocket Pty Ltd ABN 63 622 368 478 through the use of the e-Pocket app or Web portal. Our contact details are set out in section 13 (on the last page of this document).
1.2. Your contract with us
In order to become a registered user of the e-Pocket app or Web Portal, you will need to:
(a) download the e-Pocket app or open the e-Pocket Web Portal;
(b) agree to the terms and conditions set out on the mobile App or Web Portal;
(c) provide the information set out in section 3.1 below.
(d) link your e-Pocket account to your Visa or Mastercard debit card (that is attached to an account with an Australian bank account as set out in section 3.1 below); and
(e) receive notification that e-Pocket has approved you as registered user, after collecting and verifying your identification information.
Once you are a registered user of the e-Pocket App or Web Portal, the terms and conditions set out will form the contract between you and us and will govern your use of the e-Pocket app, Web Portal and the e-Pocket facility.
1.3. Google and Apple App stores
The e-Pocket app is made available through the Google and Apple store, Google and Apple stores are authorised by us to arrange for the issue of the e-Pocket facility through the e-Pocket app and to provide general advice about the facility.
1.4. Other documents to read
(a) The ASIC Corporations (Non-cash Payments Facilities) Instrument 2016/211. This legislative instrument governs low value non-cash payments facilities and we warrant that we will comply with its applicable provisions as they apply to a subscriber.
The ASIC Corporations (Non-cash Payments Facilities) Instrument 2016/211 is published by ASIC and is available at asic.gov.au.
2. What is e-Pocket?
(a) The e-Pocket app is designed for compatible Android and IOS mobile devices and can be made available to anyone with an approved account.
(b) An approved account is an account held with an Australian financial institution in the name of the user of the e-Pocket app or Web portal. A Visa or Mastercard debit or credit card must be attached to that account.
(c) The e-Pocket facility offers a fast, simple and convenient way to pay, receive and request money from people or businesses who are also users of the e-Pocket app or Web portal.
2.2. Features at a glance
Some key features of the e-Pocket app and Web portal are:
(a) Transact with other registered e-Pocket users – using the e-Pocket app, you can send payments to, and receive payments from, other registered e-Pocket users within Australia using your mobile device.
(b) Requesting payments – using the e-Pocket app, you can also send requests for payment to registered users, and then receive a notification when the registered user uses the e-Pocket facility to make the requested payment to you.
(c) QR Codes – registered users that are providing goods or services can use the e-Pocket app to generate a QR code that relates to their goods or services and which other registered users and payers can scan to provide details and request a payment.
(d) Splitting Bills – using the e-Pocket app, groups of registered users can divide and allocate amounts owing under a bill. Each user may then pay their agreed share to another registered user, using the e-Pocket app on their own mobile device.
(e) Invitations, sharing the e-Pocket App with other potential users – registered users can invite other people to become registered users of the e-Pocket facility so as to enable fast payments with more people.
2.3. What are the risks?
There are some risks you should consider.
(a) In some cases you may be liable for unauthorised transactions performed using the e-Pocket app and for some resulting losses (see sections 3.4 and 6.7 for more information).
(b) You need to take care to nominate the correct payment recipient. Payments that are incorrectly directed may not be able to be recovered.
(c) You might not be able to use the e-Pocket facility when there are disruptions to computer and/or telecommunication systems.
(d) You will not be able to use the e-Pocket app if the e-Pocket app is downloaded on to a device that is not working, or not connected to the internet.
(e) The e-Pocket facility relies on the ability to debit amounts from, and credit amounts to, debit or credit cards that are Visa or MasterCard enabled and issued by an Australian bank or other authorized Australian financial institution - see approved accounts at 2.1. The debit or credit card issuer of the payer or recipient may block or suspend the use of this payment service, or an individual transaction, at their discretion.
(f) If you use the e-Pocket app to make a request for a payment to a merchant (who is a registered user) for the purchase of goods or services, and the purchased goods or services are defective, are not as described by the merchant or have been misrepresented, or are otherwise unsuitable, you may need to rely on the merchant for any refund (as you may not be able to claim a refund from your debit card issuer - see section 6.3 for more information).
(g) If you request a payment for products or services performed, and there is a complaint, you may be required to refund the payment (see section 6.4 for more information).
3. Getting started
3.1. Registering for e-Pocket
(a) To receive approval from us to use the e-Pocket facility, you will need to:
(i) be an individual or a director acting on behalf of a company;
(ii) be an Australian resident with an Australian residential address;
(iii) be aged 13 or over;
(iv) provide your full name, date of birth, Australian residential address, email address (which must not be an email address already registered to use the e-Pocket app or someone else’s email address) and mobile device number (we store your mobile’s device ID and any other information we may require);
(v) provide requested details about the company you are acting on behalf of (where applicable);
(vi) have, and provide the details for, a Visa or Mastercard debit or credit card that is attached to an account with an Australian bank or other financial institution; and
(vii) select a user name that is unique to you, such as: your mobile number
(b) If you are a director acting on behalf of a company, you will be required to confirm that you are authorised to act for and on behalf of the company.
(c) You agree that other e-Pocket users who have your mobile number in their contacts list will be able to see that you are a registered e-Pocket user.
(d) You must only use the e-Pocket app with a compatible iOS or Android device, and the Web Portal with a compatible browser.
(e) You can only link your mobile number to one user name.
(f) You can only link a unique debit or credit card to one user name.
(a) Subject to these terms and conditions, and while you are a registered user, we grant you a personal, non-exclusive, non-transferable, limited, royalty-free and revocable licence to use the e-Pocket app on a compatible IOS or Android mobile device owned by you, or to use the Web Portal.
(b) Any use of the e-Pocket app or the Web Portal (in whole or part) in any other manner, including but not limited to resale, transfer, modification or distribution of the e-Pocket app or Web Portal, is prohibited.
3.3. Setting up an e-Pocket password
(a) Before you can use the e-Pocket app, you will need to set a password. You will need to select this password at the time that you register for use of the e-Pocket app or the Web Portal.
(b) You can change your password at any time, using the e-Pocket app or the Web Portal.
(c) We may reject a requested password, or any email address, at our discretion.
3.4. How to protect your e-Pocket password
(a) You must act with care in protecting your password.
(b) You should:
(i) memorise your password as soon as possible, then destroy or delete any record of it;
(ii) disguise any ‘prompts’ that you use to assist you remember the password to prevent others from deciphering it; and
(iii) regularly change your password.
(c) You should not:
(i) write down your password;
(ii) keep a copy of them on your computer, or your mobile device;
(iii) tell your password to anyone — not even family or friends;
(iv) use your birth date, or a numeric version of part of your name, or a number or word that someone can easily guess, (as doing so may reduce your protection under the ePayments Code, and may make you liable for a relevant unauthorized transaction);
(v) let anyone see your password when you're using it;
3.5. Other things to do to avoid unauthorized transactions
(a) Lock your mobile device and take any reasonable steps to stop unauthorized use of the e-Pocket app or disclosure of your password details.
(b) Only install approved applications on your mobile device and never override the software lockdown (i.e. jailbreak or root your device).
(c) If you believe your mobile device has been lost or stolen or suspect your e-Pocket password has become known to someone else, notify us immediately.
(d) Notify us and your linked debit or credit card issuer immediately if your card is lost or stolen, you suspect your card details have become known to someone else or your transaction history shows any e-Pocket transfers you did not make or authorize.
4. Using the e-Pocket app
4.1. Making payments
(a) You can use the e-Pocket app to make domestic payments to any other registered user
(b) You should take care to nominate the correct recipient of any payments made using the e-Pocket app as you may not be able to recover a payment directed or sent to someone by mistake.
(c) When you instruct a payment to be made to a registered user, you authorize us to debit your nominated debit card for the amount of the requested payment. We then initiate a transfer of the requested payment amount to the nominated account of the recipient.
(d) You cannot delete or cancel a payment request once it has been made using the e-Pocket app.
(e) When a payment is made in accordance with your instruction, the recipient will receive a push notification telling them that a payment has been made under the e-Pocket facility (so long as they have turned on push notifications). In the recipient's account statement with the recipient's debit card issuer will show the payment amount credited to that account as a “e-Pocket refund”. The term “refund” will appear even though the transaction is not in fact a refund in respect of any purchase.
(f) As the recipient will not see your name or user name in their financial institution’s transaction history, you may wish to advise them separately of the payment.
(j) If for any reason, we are unable to transfer funds to the recipient, we will refund to your card the payment amount (if any) that was debited.
4.2. Requesting payments
(a) Through the e-Pocket app or Web Portal, you can request another registered user to make a payment to you.
(b) Where the recipient has enabled push notifications, they will receive a push notification with your user name (mobile number) so they know who has requested the payment.
4.3. Transaction payment limit
(a) The maximum amount you can pay through the e-Pocket app in one day is $1,000.
(b) Any other existing limits on your linked debit or credit card will also continue to apply.
4.4. Transaction acceptance limit
(a) The maximum amount you can keep in your e-Pocket wallet is $1,000 per day.
(b) Any other existing limits on your nominated debit card will also continue to apply.
4.5. Keeping track of transactions
(a) We will send you a push notification whenever we have made a payment to a recipient on your instructions, so long as you have turned on push notifications.
(b) You can also check your recent transaction history through the e-Pocket app or you can check amounts drawn from, or received into, your nominated debit card account with your card issuer at any time.
4.6. Registering and updating your debit or credit card details
(a) You can nominate any number of debit or credit cards through which we can draw funds for a payment to a recipient, and you can choose between those cards when requesting that a payment be made to a recipient under the e-Pocket facility. The maximum amount you can pay through the e-Pocket app or Web portal in one day will still be $1,000, even where you have nominated and registered more than one debit or credit card with e-Pocket.
(b) You will need to make sure you update the details of each debit or credit card you have registered with e-Pocket (for example, to record the current card expiry date) and that these details remain current.
5. Fees and charges
(a) There are currently no fees charged by us for downloading the e-Pocket App or registering to the Web portal.
(b) You will, however, continue to be liable to your card issuer for any fees and charges that the card issuer is entitled to charge in relation to the account to which your debit card is attached. You should consult your account terms with your card issuer if you are uncertain about these fees and charges, and their application.
(c) There is no fee when payment is made from an e-Pocket Wallet to another e-Pocket Wallet
(d) There is a 2% surcharge when making a payment to an e-Pocket business affiliate
6. What happens if there’s a problem?
6.1. Your responsibility for transactions using the e-Pocket app
In general, you’re responsible for any losses that occur using the e-Pocket app or the Web portal, including all transactions made by you or anyone else using the e-Pocket app or the Web portal. In some circumstances, however, you may be able to obtain a refund of the transaction from your debit or credit card issuer (see section 6.3 below) or from us (see your rights under section 6.7 below).
6.2. Does a transaction look wrong or have you made a mistake?
You should regularly check the record of your transactions made through the e-Pocket app or the Web Portal, including by checking the transactions shown on your debit card account statement as provided or made available by your debit or credit card issuer. If you identify a mistake or an unauthorized transaction, or if you see anything that you’re not sure about, you should contact:
(a) your card issuer as soon as possible; and
(b) if the issue relates to an unauthorized use of the e-Pocket app or Web portal, contact us as well and as soon as possible (using our contact details set out in Section 13 below).
6.3. Applying to your card issuer for a refund
(a) (a) If you believe that your debit card has been charged in error, you may be able to get a refund of the transaction from your card issuer. You should see your debit card terms and conditions for details of your chargeback rights.
(b) In some cases, to claim a refund, you will need to report your concerns straightaway or within a certain time period (e.g. 60 days) to take advantage of card scheme chargeback rights.
6.4. What happens if the person paying you disputes a transaction?
(a) If you receive a payment from a registered user, for example for goods or services you provide, the payer may dispute the transaction (for example if they say the goods or services weren’t delivered, or they did not authorise the transaction).
(b) If the payer disputes the transaction, we may be required under card scheme rules or otherwise choose to return the funds to them, in which case you authorise us to debit your card for the refund amount.
(c) If we are not able to debit your card for the refund amount, you must pay us that amount upon demand.
6.5. If your mobile device has been lost or stolen or your Web portal login compromised
If your mobile device is lost or stolen or your Web portal log in has been compromised, contact us immediately so nobody else can use the e-Pocket app that is loaded on it or your Web portal login (see Section 13 for our contact details).
6.6. If you suspect someone else knows your e-Pocket password
(a) You can change your password at any time using the e-Pocket app or the Web portal. You should do so immediately if you suspect that someone may have gained access to your password.
(b) You can also contact us (see Section 13 for our contact details) and ask us to deregister your e-Pocket app and/or Web portal log in. We will then de-register your e-Pocket app or/and Web portal login so that your password can no longer be used.
6.7. Liability for unauthorised transactions through your e-Pocket app or Web Portal
(a) Subject to section 1.4(c) and (d), as between you and us, all liability for losses in relation to your use of the e-Pocket facility will be determined in accordance with the terms of the ePayments Code.
(b) You are not liable for a loss arising from an unauthorised transaction if the loss has been caused by any of the following:
(i) the fraud or negligence by our employee or agent, a third party involved in networking arrangements, or a merchant using the e-Pocket facility or their employee or agent;
(ii) an e-Pocket app, identifier or password which is forged, faulty, expired or cancelled;
(iii) a transaction requiring the use of an e-Pocket app or password (or both of them) that occurred before you received one or both of the e-Pocket app and any password;
(iv) a single payment transaction being incorrectly debited more than once under your e-Pocket facility;
(v) an unauthorised transaction occurring after you have notified us that your mobile device was misused, lost or stolen, or that the security of a password has been breached; or
(vi) a situation where it is clear that you had not contributed to the loss.
(c) Where paragraph 6.7(b) does not apply, and where we can prove on the balance of probability that you contributed to a loss through fraud, or breach of a security requirement, you will be liable for the loss, but only to the following extent:
(i) subject to paragraph 6.7(c)(ii) below, you will be liable for the actual losses that occur before the loss, theft or misuse of a mobile device or breach of a security requirement is reported to us;
(ii) however, you will not be liable for the portion of losses:
(A) incurred on any one day that exceeds the daily transaction limit of $1,000;
(B) incurred in any month that exceeds $30,000; or
(C) that exceeds the amount of the unauthorised transaction;
(D) incurred on any separate account in respect of which it has not been agreed that you can access that account using the e-Pocket app, Web portal or a password to perform a transaction.
(d) Where paragraph 6.7(b) does not apply, and where we can prove on the balance of probability that you contributed to losses resulting from an unauthorised transaction by unreasonably delaying reporting the misuse, loss or theft of your mobile device, or that the security of your password has been breached, then:
(i) subject to paragraph (d)(ii) below, you will be liable for the actual losses that occur between when you became aware of the security compromise (or should reasonably have become aware of the security compromise in the case of the loss or theft of your mobile device) and when the security compromise was reported to us;
(A) incurred on any one day that exceeds the daily transaction limit of $1,000;
(B) incurred in any month that exceeds $30,000;
(C) that exceeds the amount of the unauthorised transaction; or
(D) incurred on any separate facility in respect of which it has not been agreed that you can access that facility using the e-Pocket app, on the Web Portal or a password to perform a transaction.
(e) Where a password was required to perform an unauthorised transaction, and when neither of sections 6.7(c) or 6.7(d) apply, you will be liable for the least of:
(B) the amount of the unauthorised transaction; or
(C) the actual loss at the time that the misuse, loss or theft of your mobile device or breach of password security is reported to us, excluding that portion of the losses incurred on any one day which exceeds any relevant daily transaction or other periodic transaction limit.
6.8. When you can’t use the e-Pocket app or Web Portal
You can’t use the e-Pocket app or Web Portal to:
(a) buy something from a business that doesn’t have the e-Pocket app installed or hasn’t linked the e-Pocket app or Web portal to an eligible debit or credit card; or
(b) make a payment to someone in a foreign currency – the e-Pocket facility can currently only be used for payments in Australian dollars, and following cryptocurrencies – bitcoin (BTC) and Ethereum (ETH)
6.9. Making a complaint
We try to get things right the first time — but if we do not, we will do what we can to fix it. You can fix most problems simply by emailing us at email@example.com. However if you need to make a complaint, email us at firstname.lastname@example.org. We will:
(a) keep a record of your complaint;
(b) give you a reference number and a staff member’s name and contact details so you can follow up with them if needed;
(c) respond to the complaint within 21 days, or tell you if we need more time to complete our investigation;
(d) give our final response within 45 days; and
(e) if we cannot complete our investigation within 45 days, we will let you know why.
If you are not happy with how we handled your complaint, you can contact the Financial Ombudsman Service — a free, independent dispute resolution service (see contact details in Section 13).
6.10. When we may limit, suspend or cancel access to the e-Pocket app / Web Portal or end this agreement
(a) We reserve the right at any time to limit, suspend or cancel access to the e-Pocket app /Web portal or any of its features, or to refuse to process a transaction, without first telling you, including if:(i) you do not follow e-Pocket terms and conditions; (ii) you give your password to another person to use (e.g. your partner, spouse, child, friend, parent); (iii) we believe the e-Pocket app and Web portal have been or may be used illegally or in a way that may cause losses to you or us; (iv) we consider it necessary to manage our regulatory obligations; (v) you gave us false or inaccurate information when you registered for the e-Pocket app or Web portal; (i) you include or use inappropriate content in the e-Pocket app or Web portal; (vi) we consider there to be appropriate security reasons; or (vii) we need to perform maintenance works.
(b) We may end this agreement for any other reason by giving you at least 30 days’ notice.
(c) Should any of these things occur, you acknowledge that your personal settings and other saved data may be lost, and that we are not responsible for any such loss.
(a) Certain functionality on the e-Pocket app or Web portal may require you to allow notifications from us via a notification or messaging service or other reminder mechanism.
(b) Notifications will be sent to your registered mobile device, where it has push notifications enabled. This may include where you have paired your mobile device with a smart watch. Notifications could be seen by others (including unauthorised persons) who use or access your mobile device or who are able to see your smart watch.
(c) Please check the push notifications settings on your mobile device to ensure they are switched on. You may not be able to use certain services if they are switched off. You can turn on e-Pocket notifications via your Settings.
(d) Notifications may include:
(i) details of payments made;
(ii) requests for payment;
(iii) receipt of payments;
(iv) security and service alerts;
(v) updates to terms and conditions; and
(vi) alerts when new versions or upgrades are available.
8. Changes to your Product Disclosure Statement
8.1. Changes we can make
(a) We may change the information in this Product Disclosure Statement (PDS) or change these terms and conditions at any time, where the changes will only relate to future transactions or the future use and operation of the e-Pocket Facility. We will give you at least 20 days' notice if the change introduces or increases fees, imposes, removes or changes a daily or other periodic limit or increases your liability. Otherwise, notice may be given on the day of the change.
(b) If the changes to the PDS are materially adverse to you, we will give you a new or supplementary PDS setting out the changes. Otherwise, we will not issue a new PDS, but we will tell you about the changes.
(c) We will notify you of any material changes by electronic notice to you via your device or the App Store if you are using IOS iTunes, Google Play Store if you are using an IOS or Android device. We may require you to confirm your acceptance of changes before we allow you to continue using the e-Pocket app or the Web portal.
(d) Your continued use of the e-Pocket app after any such variation or modification will be taken to be an acceptance of such variation or modification.
(e) The term “give you” means posting on the website.
8.2. Not happy with the change?
If we make a change that you are not happy with, you should cease using the e-Pocket App and Web Portal and uninstall the e-Pocket app immediately. However, please feel free to communicate your concerns to us as we value your input.
9. Intellectual Property
By using the e-Pocket app you agree that:
(a) you do not have any right, title or interest in or to any proprietary rights relating to the information contained in the e-Pocket app;
(b) you will not reproduce information obtained by using the e-Pocket app or the Web portal except where such reproduction is for your own personal non-commercial use in accordance with these terms and conditions; and
(c) you will not attempt to disassemble, decompile or otherwise reverse engineer the e-Pocket app or the Web Portal.
10. Acknowledgement and compliance
(a) The e-Pocket app or Web portal is not provided by Apple, Google or any other third-party provider.
(b) Accordingly, any queries or complaints regarding the e-Pocket app or Web Portal (including but not limited to issues regarding intellectual property) should be directed to us and not to Apple or Google.
(c) Paragraphs (a) and (b) above apply for the benefit of Apple, Google and any third party whose information appears in the e-Pocket app.
(d) You also acknowledge the application of Australian anti-money laundering and counter terrorism financing regulations, and you warrant that you are not in a location that is subject to any government sanctions.
(e) You acknowledge that we will only make the e-Pocket facility available to you where it is lawful for us to do so (for example where we have satisfied our obligations under anti- money laundering laws to properly identify you and to verify your identity).
11. Termination or suspension of your e-Pocket facility
We may terminate or suspend one or both of your e-Pocket facility and your use of the e-Pocket app or Web portal:
(a) if you are in breach of these terms and conditions;
(b) if we are required to do so in order to comply with any applicable laws (such as anti- money laundering and counter terrorism financing laws, or sanctions laws);
(c) if we reasonably suspect you of engaging in any fraud or other illegal activity;
(d) if you use the e-Pocket facility to make any payments in relation to any activities that are not legal in Australia;
(b) if a debit card you have nominated is cancelled, blocked or suspended;
(c) if directed to do so by an issuer of a nominated debit card or an applicable card network (for example, in circumstances of suspected fraud); or
(d) acting reasonably, for any other reason (including where we wish to cease offering the e-Pocket facility).
12. Meaning of words in this document
(a) "ASIC" means the Australian Securities and Investments Commission.
(b) "e-Pocket app" means the “e-Pocket” app service described in section 2.
(c) “e-Pocket facility” means the facility we offer through the "app or the Web portal by which you can make payments to recipients or receive payments from payers.
(d) “card” means a Mastercard enabled debit card, or a Visa enabled debit card you nominate when you register for the e-Pocket app/Web portal or add as a card to be used through the e-Pocket app or Web portal.
(e) "card details" means the card number and expiry date or security/verification code of your card.
(f) "card issuer" means the bank or other financial institution that issues your card to you.
(g) "card scheme" means MasterCard or Visa, as the case may be (the brand on your card).
(h) “compatible devices” or “devices" means Android or IOS devices that meet the requirements listed on Google Play or iTunes App Store.
(i) "payer" means the person initiating a payment by using the e-Pocket app (whether you when you’re making a payment, or another person when they’re making a payment to you).
(j) "recipient " means the registered user that is nominated by the payer as the intended ultimate recipient of a payment made through the use of the e-Pocket facility.
(k) "registered user" means a person who has registered to use the e-Pocket App or Web portal and has agreed to these terms and conditions.
(l) "security requirement" mean a security requirement or measure to which you are subject in respect of the use of the e-Pocket app or Web portal and password, as set out in these terms and conditions.
(m) "we", "us" or "our" means e-Pocket Pty Ltd ABN 63 622 368 478.
(n) "you" or "your" means:
(i) the individual downloading the e-Pocket app or using the Web portal
(ii) if the individual downloading the e-Pocket app or using the Web portal is a director acting on behalf of a company, that company, and where applicable that individual as well.
13. Contact us
Ask a question
Email us at email@example.com
Give us feedback
Email us at firstname.lastname@example.org
Lost or stolen phone or you suspect unauthorised use of the e-Pocket app or Web portal log in
Email us at email@example.com and contact your card issuer
Make a complaint
Email us at firstname.lastname@example.org
Contact the Ombudsman Financial Ombudsman Service GPO Box 3
Melbourne VIC 3001
Phone: 1800 367 287 or visit fos.org.au