Business Terms & Conditions
Business Terms

Future changes to this Agreement

All future changes set out in the Customer Updates section of our Website at the time you sign- up for our Services are incorporated into this Agreement. The revised Agreement will take effect as soon as it is posted on our website or on the date notified to you.

You accept this agreement

By visiting our Website and/or using our Services (including downloading and using our website, or via the API, a social media platform, or other authorised third party), you confirm that you accept and agree to this Agreement (including the Customer Updates and the additional documents referred to above). If you do not agree, please do not use our Services.

Where to get a copy of this Agreement.

You can always see the most current version of this Agreement on our Website.

Instant Pay API

From time to time updates to the API may be made. Depending on the update, you may not be able to use our Services until you have accepted any new terms.

Your right to use the API

In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non- transferable, nonexclusive licence to use the API subject to this Agreement. We reserve all other rights.

Who are we and how to contact us

Instant Pay Pty Ltd is a wholly owned Australian company registered with ASIC and reports to AUSTRAC.

How to contact us

You can contact us by email, web chat or telephone. Our contact details are provided on the “Contact” page of our Website.

Business use of our service

You must be 18 years or over. All business users must complete our KYC process and be verified by our internal audit process. Once you have been verified, you will be eligible to access our services. Username and passwords generated by you and managed by you are your responsibility. 2FA is mandatory on all business access.

Our company information

The Services are provided by Instant Pay Pty Ltd (“Instant Pay”, “we”, “us”, or “our” as applicable) with ACN 642 154 550.

KYC Fee Structure

As part of our reporting requirements to AUSTRAC, we verify the identity of every merchant/business user within our platform. Verification must occur prior to the live access and/or dispatch of real funds to a connected legacy bank account.

  1. Drivers licence check (DVS) - $5 per person
  2. Politically exposed person check (PEP) - $6 per person
  3. Company extract check - $33 per company
  4. Trust examination - $150 per trust
  5. Drivers licence manual check - $33
  6. Business industry check - $44
  7. WooCommerce simple check - $29.90

Nominated bank account

To receive payments from the Instant Pay system you will need to provide a business bank account, in Australia that matches your business name (or company name).

Batch payout

If you elect to receive daily batch payouts through the Instant Pay system, we will schedule a complete payout of all transaction completed minus any fees within the 24 hour period up to the payout time, which is 3pm AEST. If you have a NPP compatible bank, you will receive this batch payment instantly. If your bank is not NPP compatible, batch payments will be completed using this standard payments system which may take from 4 hours to 24 hours to complete and successfully receive. Batch payouts are charged at the standard transaction fee rate of your chosen plan.

Batch payout reconciliation

Instant Pay Business Console gives you access to all transaction information completed, fees taken and other important transactional information you may require to service your customers correctly. You can also download a batch payment transactional detail so you can reconcile individual transactions and fees accurately. This is downloadable as a CSV file.

Instant Payout

If you elect to receive your payouts instantly, Instant Pay will dispatch successfully received funds to your nominated bank account immediately and not bulk dispatch each day. Each instant payout is charged at your chosen fee rate relative to your plan. If your bank is not NPP compatible, instant payouts will be completed using the standard payments system which may take anywhere from 4 hours to 24 hours hours to complete and successfully receive. Instant Payout is only available by application and some additional workload may be required to configure this for your business.

Bank Compatibility

Instant Pay uses existing NPP frameworks to ensure consumer payments are transacted and remitted as quickly as possible. We do not guarantee that any participating bank will transact instantly with the Instant Pay platform. Each NPP participating bank will have its own policy for NPP payments and while we anticipate that all Australian banks will support real time NPP payments within the near future, currently NPP payments settlement and completion of cleared funds times will vary. Unfortunately Instant Pay does not have any control over this. Instant Pay does have redundancy measures in place to cater to any varied timing of bank related NPP payments and will also clearly communicate to any payer(s) at the point of purchase what to expect from their bank.

Business Console

Each business customer of Instant Pay will receive access to our business console. This is a web accessible console that will show all transactional information, including fees and part payments completed using our system. Access to the business console requires you to enable 2FA to ensure the security of your data. For security purposes, we disable the ability to edit your business profile, contact details and banking details from your console. If you require changes made to your business profile please contact us directly. You will be required to meet our identification requirements to make any changes to an existing business profile.

KYC and identification

All business customers are required to complete our KYC process before using Instant Pay. This is to ensure we are working with correctly identified businesses, while allowing us to mitigate risk with certain business types and people. Applying for use of Instant Pay does not guarantee its use. Following completion of our KYC, we complete a brief analysis and cooling off period not exceeding 48 hours. Once this is complete we can proceed to merchant integration.

Ongoing KYC and identification

Instant Pay reserves the right to complete ongoing KYC. If any of your business conditions change, including but not limited to a) change of directors b) change of business activity c) change of address d) change of business structure you must advise us of these changes immediately.

Merchant integration

Integrating Instant Pay as a payment service into your website, or online invoicing system can be completed with an experienced web developer within the day. For website integration for online shopping, your website developer will need to make contact with us to complete the integration process. We currently have plugin support for Wordpress/Woocommerce, XERO integrations, Zapier integrations and are currently working on a Shopify integration. Custom website integrations are also possible, and our API documentation explains how to complete this.

Send money terms

Instant Pay can give your business the ability to also send outbound funds. While this is an extremely useful feature within Instant Pay, you will need to apply for this feature to be activated.

  • Only the master account holder is able to ‘send money’. All send money requests are protected by 2FA for security purposes.
  • All send money requests have the status of ‘verified’ ‘unverified’ or ‘failed’. Until a send money request is verified, you won’t be able to process another send money request, or complete a daily dispatch.
  • A rejection/reversal from a send money request will incur a reversal fee (if the bank account you send money to rejects it).
  • Send money requests are processed within your chosen plan allocation for transaction costs.
  • Send money requests are processed using NPP (instant and real time). If the recipient bank account is not NPP enabled, it will be dispatched using the legacy system.
  • Last leg payments of an international payment into Australia will be completed using the DE system.


Instant Pay has redundancies in place to protect our system from duplications. In the very rare instance that a transaction (inbound or outbound) is duplicated and your account is impacted we will follow this protocol. a) Identify the duplication. b) Make immediate contact with the affected business c) Organise immediate reversal of monies (whether inbound or outbound). In very rare cases, a duplication may also affect our send money and daily dispatches. If a duplication is seen to affect either dispatches, or send money actions we would contact all businesses notifying them of this as soon as possible.


Instant Pay fees are payable as follows by the merchant

  1. Monthly access fees. These fees are calculated on a per user basis. Industry risk plays a key factor, as well as potential volume. These fees are payable via a valid credit card subscription.
  2. Inbound/Outbound and Direct Debit fees are deducted on a per transaction basis from any revenue processed. These fees are calculated based on an agreed volume rate.

A one-off KYC onboarding fee of $299 is also applicable to all new Instant Pay registrations.
Other fees include

  • dishonoured payments for direct debit, incorrect payments and multi-day payments. In this fee situation, the fee is payable by the payer, as it is seen to be an error on behalf of the payer. Payer based fees are taken from any revenue that is received from the Payer at the time of payment. If any any circumstance the payer fee is unable to be taken from the payer based transaction, it will remain the merchants responsibility to pay this fee on their behalf. Payer fees vary but are currently set at
  • incorrect payments (under and over), multi-day or part payments $2.50
  • disonoured payments for direct debit $5

Fees Detail

Fees are charged dynamically against incoming merchant collected funds. Fees can be oncharged to the customer/payer if the merchant chooses. Please note any local laws regarding transaction fees being passed to consumers. Fees that are unable to be collected through any liquidity held in the merchant’s Instant Pay account will be charged to the held credit card nominated by the merchant.

  • Successful payment received. Fee payable by the receiving business. This may be passed onto the payer.
  • Underpayment received. Fee payable by the payer.
  • Overpayment. Fee payable by the payer.
  • Part/progressive or testing payment. Fee payable by the payer.
  • Refund to payer. Fee payable by the business and/or the payer.
  • Dishonour fee (Direct Debit). Dependent on merchant plan.$5 payable by the business and/or the payer.
  • Dishonour fee (NPP/DE). Applicable only to businesses making outgoing payments with incorrect details. Dependent on merchant plant. Either $30 or $15.
  • Manual reconciliation fee. Applicable to transactions where a payer or business asks or requires additional reconciliation. Currently set at $33.

Consumer fee process

If a consumer fee is applied to any transaction, whether as a part payment fee, underpayment fee, overpayment fee, split with friends fee or late fee, this fee is passed from the Instant Pay to the business merchant which is in turn passed to the consumer for payment. This fee is charged dynamically and uses any monies transferred into the business merchants virtual account. This fee is taken and managed by the Instant Pay system, on behalf of the business merchant. Any of the above mentioned consumer fees cannot be marked up, or sold as a service by the business merchant. The consumer fees mentioned above are charged at $2.50 per inwards and outwards movement of money.

Consumer fee process

If a consumer fee is applied to any transaction, whether as a part payment fee, underpayment fee, overpayment fee, split with friends fee or late fee, this fee is passed from the Instant Pay to the business merchant which is in turn passed to the consumer for payment. This fee is charged dynamically and uses any monies transferred into the business merchants virtual account. This fee is taken and managed by the Instant Pay system, on behalf of the business merchant. Any of the above mentioned consumer fees cannot be marked up, or sold as a service by the business merchant. The consumer fees mentioned above are charged at $2.50 per inwards and outwards movement of money.

Examples of fees payable

Business fee example:

  1. End user makes a payment for a service/product through the Instant Pay system. It is successfully received. A business transaction fee is charged to the business.
  2. A batch payment containing 10 transactions is made to the business. A business transaction fee is charged to the business.

Customer fee example:

  1. Payer makes an incorrect payment for a service/product through the Instant Pay system. A customer fee of $2.50 is charged.
  2. Payer makes an incomplete or overpayment or requested refund for a service/product through the Instant Pay system. A customer fee $2.50 will be charged.

Business Monies Held with Instant Pay

Monies held with Instant Pay do not earn interest. Money incoming to Instant Pay during transactions are stored in a virtual bank account created for your business. These funds are held no longer than 24 hours are require dispatch to your external bank account within this time period. Monies held in the allocated virtual bank account for your business are considered your business money and your responsibility. Any transactional fees allocated to your business are taken from your virtual bank account prior to instant or batch payment dispatch.

Incorrect payments from end payers and solutions

Instant Pay infrastructure will detect any incorrect payments made, whether overpaid, underpaid or incorrectly referenced. These funds will still be allocated to your virtual account and based on your AML/CTF or other internal policies you can decide whether to refund these monies to the payer, or reconcile these funds accordingly. While Instant Pay does provide reconciliation tools via our API, it is ultimately your business responsibility to use these tools as you see fit. Results from using these tools is also your business responsibility. Instant Pay provides any reconciliation tools in an ‘as is’ basis.

Failure of Dispatch

If the event an instant of batch payment dispatch failure or a non-receipt of anticipated funds, please make contact with us immediately.

Limits of Dispatch

In the unlikely situation we cannot dispatch the total amount of monies due for batch dispatch, we would make any remainder payments within 24 hours.

Hours of operation

Instant Pay transactional api is available 24/7. Support for api is available during office hours, Monday to Friday. Technical support, specific to keeping our api operational operates 24/7. If you notice any operational issues that may affect api coverage, you can submit this information through info@instantpay.net.au

Software Clock

Instant Pay Pty Ltd and its payment and remittance platforms operate on AEST (Australian Eastern Standard Time). Consumers and business clients operating outside of these hours may receive notifications and messaging services outside of their normal settings.

Recovery of unpaid fees

Instant Pay reserves the right to terminate your account if we have been unable to retrieve any transactional or monthly access fees. We will make contact with you to attempt collection of these fees. Failure of this communication resulting in the collection of these fees we will close your account, recover any outstanding fees and dispatch any remaining monies to your nominated business bank account.

Transactional records

As per our reporting requirements with AUSTRAC, we record every transaction made through our system. This includes both the Payer simple access details, as well as the bulk dispatch details, or instant dispatch details with all our business customers. Transactional data is also used to better design and cater to existing and future Instant Pay customers. No personal information is released from transactional data unless we deem necessary as per our AML/CTF program.


Instant Pay may issue your business virtual wallet with a PayID. This PayID will be created and managed within the Instant Pay domain URL. PayID remains a service built and offered by participating banks as a method of payment that removes the need for payers to enter BSB and ACC details when making a payment.


Instant Pay provides the banking details from all payers as part of the Instant Pay service to your business. These details are provided confidentially and are to be used for the sole purpose of providing a streamlined process for refund, while also adding an additional layer of KYC into your transaction process. Any incorrect use of these details will ensure your account is terminated.

RTGS and incoming international payments

Instant Pay currently does not support RTGS payments or international incoming payments. We recommend that all payers simply use an Australian bank transfer from either their banking app or internet banking to complete their payment to their merchant.

Direct Debit - Pricing

Pricing for your direct debit payments is set by the plan chosen by you, the merchant. Some merchants choose to absorb our direct debit fee, while some choose to pass these fees onto their payers. Australian payment consumer law states merchants cannot charge any more for fees than their cost in using the payment service provider.

Dishonours for Direct Debit

If Instant Pay attempts a direct debit on a payer and there is insufficient funds to process this payment, this will incur a dishonour fee. Dishonour fees will be taken from your merchant account and it is the merchants responsibility to either a) absorb the dishonour fee, or b)oncharge the dishonour fee to the payer. Instant Pay provides tools in our Enhanced Direct Debit facility to make this process easy.

Money movement timelines

Direct Debit moves through the Direct Entry framework in Australia. Direct Debits can take up to 3 working days to be approved and/or provide a failure message (dishonour or other failure).

User Agreements (DDRSA)

Merchants must present a DDRSA to their payers. This DDRSA must be ‘agreed to’ and timestamped. The DDRSA will contain information about our partnering bank provider, as well as information regarding their chosen bank account, the amount to deducted, the regularity of the payment and other details related to the direct debit and service/product provided from the payments made. Instant Pay has an inbuilt DDRSA as part of our system, which you can use to serve to your customers.

Business responsibility of service

Prior to setting up a direct debit with Instant Pay for a payer, it is important that you meet the following conditions, to avoid future transaction disputes.

  • Secure a signed agreement from your customer for the service you are providing, at the price you have agreed to. If the agreement is pending a successful direct debit setup with Instant Pay, you must stipulate this on your agreement. You must save a copy of this.
  • Summarise the service/product for use in the DDRSA (payer direct debit agreement).
  • Obtain the payers legal name, their email address and mobile contact for use in the Instant Pay customer setup process. If this is done in person, we recommend either sighting:
    • drivers license
    • credit card that matches the payers legal name.
    • If the payer cannot provide any ID to confirm their legal name, we recommend not continuing with the direct debit agreement.

Direct Debit and Transaction fraud

Fraud within the direct debit system can affect both the payer and the business. The banking system attempts to minimise the affects from fraud as much as possible, however if fraud is either detected or we are notified of fraud we will mediate and remedy as quickly as possible.

  • From the payer perspective.
  • Fraud damage from the payer perspective is extremely upsetting. A payer would experience a non-agreed to withdrawal of funds from their account. A payer has a reasonably indefinite timeline to make a complaint of fraudulent taking of funds from their account. If a non-legal agreement is found in place for direct debit, banking partners will generally side with the payer and demand the funds are returned by the merchants involved. Instant Pay accepts no responsibility for any requested return of funds, though we will help mediate between the parties involved for the best outcome possible.
  • From the business perspective.
  • Fraud damage from the business perspective can be detrimental to cashflow. Fraud that is damaging to a business occurs when a payer deliberately misuses either a) the direct debit system by providing a non-legal name when setting up a direct debit b) taking ownership of a product or service and then attempting to challenge the direct debit agreement to receive a return of all funds paid.
  • Measures business should take to minimise the risk from fraud from payers a) ensure all agreements between payers and you (the merchant) match the payers legal name b) ensure the bank account is owned by the payer and matches the legal name provided in the direct debit agreement c) keep copies of all direct debit agreements, even after they have expired. Instant Pay will keep a copy of all agreed DDRSA indefinitely, though you should also keep a copy of any other agreements that outline your service/product.
  • Within the Instant Pay system, we will provide information on each direct debit agreement to help you identify if a payer is potentially a fraud risk. This information will range from on page graphic elements that identify mismatches in legal names, missing data points or any other data item we can provide to ensure fraud is minimised through our system.

Banking partners and Direct Debit

Instant Pay uses banking partners to complete the direct debit process. These details are listed on all DDRSA to payers agreeing to a direct debit payment. While we reserve the right to change our banking partners, dependent on the risk involved with you (the merchant), be assured that the direct debit process is exactly the same regardless of the banking partner we use.

Liquidity provision in case of risk

In some cases, we may ask for a small amount of liquidity to cover industries that incur high risk for dishonours. While our system does minimise dishonour risk, this liquidity will serve as a small buffer in the chance this fails. Liquidity is generally calculated at gross number of monthly transactions x 3% x $5.

Malicious or Fraudulent use

If any malicious or fraudulent use by your or any operator within your business is made, Instant Pay will terminate your access to our system immediately and any data based evidence will be provided to the relevant authorities.

Intellectual property rights

While you are using our Services, you may use the Instant Pay Materials only for your personal use and solely as necessary in relation to those Services. Instant Pay Materials include any software (including without limitation the website, the API, developer tools, sample source code, and code libraries), data, materials, content and printed and electronic documentation (including any specifications and integration guides) developed and provided by us or our affiliates to you, or available for download from our Website. You may not, and may not attempt to, directly or indirectly: (a) transfer, sublicense, loan, sell, assign, lease, rent, distribute or grant rights in the Service or the Instant Pay Materials to any person or entity; (b) remove, obscure, or alter any notice of any of our trade marks, or other “intellectual property” appearing on or contained within the Services or on any Instant Pay Materials; (c) modify, copy, tamper with or otherwise create derivative works of any software included in the Instant Pay Materials; or (d) reverse engineer, disassemble, or decompile the Instant Pay Materials or the Services or apply any other process or procedure to derive the source code of any software included in the Instant Pay Materials or as part of the Services.

Our responsibility for loss or damage by you

If we do not reasonably meet our commitments to you, we are responsible for loss or damage you suffer that is a foreseeable result of our failing to use reasonable care and skill. We are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the agreement to purchase was made, both we and you knew it might happen. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation. We are not liable for business losses. If you use our Services for any commercial or business purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

We are not liable for technological attacks. We will not be liable for any loss or damage caused by a virus, or other technological attacks or harmful material that may infect your computer equipment, computer programmes, data or other proprietary material related to your use of our Services. We have no control over websites linked to and from our Website. We assume no responsibility for their content or any loss or damage that may arise from your use of them.

Our liability to you for unauthorised payments or our mistake.

In case of an unauthorised payment or mistake due to our error, we shall at your request immediately refund the payment amount including all fees deducted by us. This shall not apply:

  1. where you have made an incorrect payment amount
  2. if you have acted fraudulently, in which case we will not refund you in any circumstances;
  3. if the payment transaction was unauthorised but you have with intent or gross negligence compromised the security of the Instant Pay platform or failed to comply with your obligations to use Instant Pay in the manner set out in this Agreement. In such a case you shall be solely liable for all losses; or
  4. if you don’t let us know about the unauthorised or incorrectly completed transaction within 7 calendar days from the date of the payment transaction. We are not liable for things which are outside of our control.

We (and our affiliates) cannot be liable for our inability to deliver or delay as a result of things which are outside our control. You are liable for breaking this Agreement or applicable laws. In the unlikely event of loss or claims or costs and expenses arising out of your breach of this Agreement, any applicable law or regulation and/or your use of our Services, you agree to compensate us and our affiliates and hold us harmless. This provision will continue after our relationship ends. What happens if you owe us money. In the event you are liable for any amounts owed to us, we will immediately remove such amounts from your total transaction. If there are insufficient funds to cover your liability, we reserve the right to collect your debt to us by using any payments received through your Instant Pay transaction. We may also recover amounts you owe us through legal means, including, without limitation, through the use of a debt collection agency.

Accessing our services

We will try to make sure our Services are available to you when you need them. However, we do not guarantee that our Services will always be available or be uninterrupted. We may suspend, withdraw, discontinue or change all or any part of our Service without notice. We will not be liable to you if for any reason our Services are unavailable at any time or for any period. You are responsible for making all arrangements necessary for you to have access to our Services. If you have granted permission to a third party to access your account, we may refuse access to that third party if we are concerned about unauthorised or fraudulent access by that third party. We will give you notice if we do this, either before or immediately after we refuse access, unless notifying you would be unlawful or compromise our reasonable security measures.

Information security

You are responsible for configuring your information technology, computer programmes and platform in order to access our Services. You should use your own virus protection software. We cannot guarantee that our Services will be free from bugs or viruses. You must not misuse our Services. You must not misuse our Services by introducing viruses, trojans, worms, logic bombs or other materials which are malicious or technologically harmful. You must not attempt to gain unauthorised access to our Website, our servers, computers or databases. You must not attack our Website with any type of denial of service attack. By breaching this provision, you may be committing a criminal offence. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our Website and/or our Services will cease immediately.

Linking to our site

You may link to our Website provided you follow certain rules. You may link to our Website, provided:

  1. you do so in a way that is fair and legal and does not damage our reputation or take advantage of it;
  2. you do not suggest any form of association, approval or endorsement on our part where none exists;
  3. you do not frame our Website on any other site; and We reserve the right to withdraw linking permission without notice.

Our right to make changes

We reserve the right to change this agreement.
In some instances, we may change this Agreement immediately. Changes to this Agreement which are:

  1. more favourable to you;
  2. required by law; or
  3. related to the addition of a new service, extra functionality to the existing Service; or
  4. changes which neither reduce your rights nor increase your responsibilities, will come into effect immediately if they are stated in the change notice.

Changes to exchange rates shall come into effect immediately without notice and you shall not have the right to object to such a change.

Your Privacy

Any information obtained during our KYC process and ongoing business relationship is kept completely confidential. All information is sorted securely for AUSTRAC or other relevant government reporting bodies only.

Consumer Privacy and Data confidentiality

Instant Pay takes privacy very seriously.
All transaction data processed through our system is kept in the strictest confidentiality. Instant Pay does not use any data collected for any purpose other than

  • Our AML/CTF responsibilities
  • Providing you with the highest level of transaction transparency available.

Instant Pay does not sell or lease any transaction data derived from our platform. All records are kept secure within our system.


We reserve the right to use cookie data to better our website and console experience.

Social media and privacy

We reserve the right to use publicly accessible information through any social media or networks to better our system.

How we may contact you

We usually contact you via SMS or phone. We cannot be liable for any consequence or loss if you don’t follow instruction or read any notification we send to you. If we have reasonable concerns either about the security of your Instant Pay transaction, or any suspected or actual fraudulent use of your Instant Pay Account, we will contact you via telephone. This Agreement is made in the English language.


If you have any complaints about us or our Services, you may contact us following our customer complaint procedure. Please email info@instantpay.net.au to begin this process.

Other important terms

If a court finds part of these terms and conditions illegal, the rest will continue in force. Each of the paragraphs of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect. Even if we delay in enforcing this Agreement, we can still enforce it later. If we delay in asking you to do certain things or in taking action, it will not prevent us taking steps against you at a later date.

These terms and conditions supersedes any other previous agreements. This Agreement supersedes and extinguishes all previous agreements between you and Instant Pay, whether written or oral, relating to its subject matter.