Part 2: Product Disclosure Statement (PDS)
10 Important information
This PDS includes important information you will need to consider when making a decision about Adyen’s payout services.
The information in this PDS is general information only. It does not take into account your objectives, financial situation or needs. Accordingly, before acting on any information contained in this PDS, you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs.
All monetary amounts referred to in this PDS are in Australian dollars, unless stated otherwise.
Information in this PDS may change from time to time. Where a change is not materially adverse to customers, we may tell you about the change by including information on https://www.adyen.com/legal/combined-financial-services-guide.
We will, on your request, provide you with a paper copy or electronic copy of any updated information, free-of-charge.
Neither Adyen Australia Pty Ltd (we, us, our), nor its related entities, directors, officers or service providers, guarantee the performance of Adyen’s payout services.
11 Adyen’s payout services
Adyen’s payout services can either be used by merchants in combination with payment processing through Adyen, or by using Adyen for Platforms (see below).
Adyen for Platforms is an end-to-end payment solution for marketplaces, on-demand services, crowdfunding platforms, and any other business model.
Adyen for Platforms allows you to:
- Split payments between one or multiple sub-merchants, deduct costs as needed, and hold funds until payout;
- Securely transfer funds between your account and your sub-merchants’ accounts; and
- Determine payouts for sub-merchants – whether it be on demand or automated.
12 Terms and conditions
If you sign up to use Adyen’s services, your agreement with Adyen (including its schedules and documents referenced) will constitute your agreement with us.
13 Key benefits of using Adyen’s payout services
Some key benefits of using Adyen’s payout services include:
- Support of widespread payment methods, such as Visa, Mastercard, Apple Pay and Google Pay, as well as support of local payment methods, such as POLi Payments, Afterpay and Zip.
- Ability to payout money in more than 20 countries.
- Ability to support automatic payouts and manual payouts through Adyen for Platforms.
- Simplified onboarding experience for platform sub-merchants globally, through one endpoint, through Adyen for Platforms.
- Split payment functionality on Adyen for Platforms allows for automation of internal payment processes.
14 Key risks of using Adyen’s payout services
Key risks of using Adyen’s payout services include:
- You may not receive your settlement amount from us if you owe any amount to us or our related bodies corporate.
- Unavailability of our services, delay and cancellations.
- There is a risk that the security of your account could be compromised and that a person could attempt to conduct fraudulent transactions on your account, or that we may not process your transactions in some circumstances. (Note that sometimes a transaction will not be processed by us where we consider the transaction to be high-risk or fraudulent, or we are unable to prove your identity.)
15 Fees and other costs
For cross-border bank transfer pay-outs, the currency conversion fee is 1.2% for AUD, CAD, DKK, HKD, JPY, NZD, NOK, SGD, ZAR, SEK, CHF, GBP, USD, EUR, PLN.
For all other currencies, the currency conversion fee is 3%.
Payouts services will be charged as follows:
|Domestic bank transfer pay-out
Payout services processed through Adyen for Platforms will be charged to the platform. If you are a sub-merchant (i.e. a seller or service provider that has a contract with a platform and operates on the platform), you will not be charged a fee directly by Adyen, however, the platform you use may charge you a commission or service fee for using their platform.
The pricing stated above is standard pricing for the standard product offering; different fees or optional features may be agreed in your or the platform’s agreement with Adyen.
16 Other important information
There may be tax implications associated with using our services and you should obtain independent taxation advice applicable to your own facts and circumstances. You are solely responsible for collecting, reporting and paying any taxes that may arise from your use of our services. You agree to comply with the applicable tax laws in connection with your use of our services. Fees we charge are subject to Goods and Services Tax (GST) where our service is a taxable supply and in those circumstances, GST will be added to the fees charged to you.
Please note that Adyen is legally required to report transactions to the Australian Taxation Office, including pursuant to Division 396 of Schedule 1 to the Taxation Administration Act 1953 (Cth).
For information about how we handle information about individuals, please read our Privacy Statement available at https://www.adyen.com/policies-and-disclaimer/privacy-policy.
17 Complaints and how to contact us
Please refer to the beginning of the document for our contact details and section 9 of this document for how you can raise any concerns with us.