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Product Disclosure Statement

Technocash Retailer Facility

8 March 2006

Issuer:

Technocash Pty Ltd (ABN: 20 080 109 217)

  • Phone: +612-9687-1900
  • Fax: +612-9687-1911
  • Address: Level 5 ANZ Building, 20 Smith St, Parramatta, Australia, 2150 PO Box 618, Parramatta, Australia, 2124
  • Email: info@technocash.com
  • Website: www.technocash.com
  • Licence: Australian Financial Services Licence No: 247299

Benefits of holding a Technocash Retail facility:
Retail Facility Features TMF/
CashBack Merchant
Aqua Retail BillFold Card
Entitled to CashBack purchases from participating merchants+ Yes
Free card to card transfers Yes
Load money at Australia Post Yes
Load funds by internet banking Yes
Make payments cheaply in other countries Yes
Hold multiple currencies to avoid foreign exchange risk Yes
Membership system with customizable fields Upgrade Available
Money received can be banked out conveniently Yes
Great storage of payee information Yes
Our extended transaction history provides great record keeping Yes
Purchase discount mobile phone recharges when logged into your card Yes
Retail facilities available to all merchants - see family friendly policy Yes
Invoice and payment collection facility at Australia Post Yes
Wire Transfer Instruction to Technocash Yes
Mass card to card transfer system Upgrade Available
Can send US Check payments within USA Yes
Send SMS messages from your card login to hundreds of countries Yes
Deposit Card System Optional
CashBack Retail Functions Optional
Physical Card Delivered to your address Yes
Unlimited transaction capacity for fully verified accounts Yes


Risks:

Risks associated with the TECHNOCASH stored value system are summarised on the Security and Risks page of our website via the Securities and Risks link.

Risks arise when using any internet facilities. The key safeguards are shown prior to logging in to your BillFold card. If you are on the web you would click the Login link.

Key risks are as follows:
  • Only trust TECHNOCASH websites for your transactions and login. You can check whether the site you are using is an authentic TECHNOCASH site by verifying our SSL digital certificate from your browser.
  • Your password allows access to the funds on your card and other features and functions. Never give anyone your password, your optional spend password, or (for corporate cards) any other passwords. Choose your password carefully, do not record it electronically or otherwise, do not have obvious items like name, pets name, phone number or birth date as part or all of your password.
  • Your login details may be sent to you via email or as part of an introduction kit delivered by post. You must log in to your facility and change the initial password, otherwise you risk your password becoming known to others.
  • It is always risky to use an internet login facility on any computer provided by another, for example at public internet kiosks.
  • It is your responsibility to ensure that any passwords you use are sufficiently complex or unique so that others cannot guess them. We have long password fields and you can and should change passwords and add separate passwords for various facilities.
  • As we have various currencies available you must be careful to not only specify the correct amount for any transaction but also to ensure you select the correct currency.
  • If your BillFold account activity reaches certain transaction value thresholds in a given time period, it may be necessary for Technocash to confirm your identity and other personal details. Your account may be subject to periodic transaction limits if your identity has not been fully verified.
  • TECHNOCASH systems are based on irrevocable payments. When sending funds you have a confirmation stage during the transaction process and you are responsible for your completed transactions. This is also considered a benefit for the person being paid.
  • If you fail to enter information into your card's 'My Account' section it can be hard to identify you for customer service requirements.
  • Organisations can set up payee information, which is confirmed during the payment process, and use these details to make irrevocable payments. It is important that you check and confirm that the payee information is correct. It is unlikely that incorrectly sent payments will be recovered and attempts to recover them may involve significant costs.
  • TECHNOCASH Vouchers are non-refundable so customers should treat them with the same care and respect as they would cash. A backup copy of the Voucher details could help but should be treated with the same amount of care.
  • Customers should be extremely careful with TECHNOCASH Voucher codes and expiry information as knowledge of this information might allow others to access the funds available.
  • Knowledge of the codes and expiry information of a TECHNOCASH Voucher which has been spent or partly spent should be kept for 90 days in case the merchant involved needs to provide a refund.
  • TECHNOCASH provides confirmation of exchange rates it uses and you are provided confirmation prior to finalising your transaction. It is important that you check this information.
  • When making payments involving bank accounts please leave enough time for inter-bank clearance and credit card deposit cycles.

There are also risks which apply to you specifically because of your involvement in providing CashBack rewards to customers:

  • If you nominate a bank account or credit card on a Direct Debit Authority to Technocash please note that: direct debiting may not be available on some accounts; additional charges may be applied by your financial institution for direct debits; and you should confirm your account details by checking a recent statement from your financial institution. If you are in doubt about any of these items please check with your bank or financial institution before contacting Technocash.
  • As a CashBack merchant you have a risk and are liable for operator error and unauthorised transactions through IMSE terminals. It is your responsibility to ensure that only appropriately trained and authorised staff members have access to any issued Operator Authorisation Cards.
  • In the case of fraud or unauthorised transactions through IMSE terminals assigned to you, you have a responsibility and agree to notify relevant law enforcement authorities and pursue the matter. Technocash will cooperate fully with any enquiries or investigations.

Social and Ethical Considerations:

Our Retail Terms and Conditions (if you are on the web click here..) state: 'Technocash reserves the right to decline to allow the Retail BillFold to use the Technocash Payment System to sell goods and services if Technocash, in its sole discretion, determines that the whole or substantial whole of the Retail BillFold's business is for the sale or licence or membership fees of products that require the customer to be of a required age such as alcohol, cigarettes, gambling, or adult products and sites.'

Technocash allows its customers to work with prepaid funds and does not promote credit. These features make TECHNOCASH online transactions suitable for all ages.

Sales Force:

Agents and distributors and authorised representatives are trained and authorised to sell Technocash products, and earn commissions for specific card activities. If you are thinking of joining our Sales Force, details of commissions and other similar payments are by application only. Please ring Technocash or use the contact page on our website. More information is available from our website. If you are on the website Click Here..

If you are a customer and wish to check whether a person is authorised you can check our website. If you are on the website Click Here..



Cost of Products:

Technocash sells cards and stored value Vouchers. Some cards allow multiple currencies to be used. There is an initial cost to buy a card and some cards have monthly fees. Other fees and charges relating to transactions are charged and often depend on the type of card held. If you are on the web please click on the Fees and Charges link.

Technocash fees are primarily transaction based. This means as you do money moving transaction activity the fees will be debited automatically according to your account type. This means you need to have sufficient funds in your account to complete the transaction.

Technocash generally has the confirmation procedure during transactions which shows any fees charged.

Terms and conditions

The following are the significant Terms and Conditions that apply to you as a Technocash customer. You can also explore the legal section on our website to view our full Terms and Conditions.

All monies received for deposit to Technocash BillFolds or Vouchers other than customer initiated transactions are non-refundable and will be held in a bank account ("accounts") by Technocash subject to a mortgage over the accounts held on trust for each customer ("Technocash Customer Trust") by the Technocash Trustee, pursuant to a Security Trust Deed between the Security Trustee and Technocash dated 19 November 2003 and registered with ASIC with allotted charge number 997227 on the 25th November 2003, Security Trust Deed, for the protection of each customer. Monies in the accounts will only be withdrawn as follows:

  1. in accordance with these Terms and Conditions; or
  2. for the payment of fees (including bank fees) and charges which Technocash incurs in respect of the Accounts.

Any person may apply for a Technocash BillFold, subject to any restricted categories as defined per the Technocash Anti-Money Laundering and Counter-Terrorism Financing Program, and the requirement of applicants to satisfy any relevant customer identification and verification procedure both prior to a BillFold Account being activated and subsequently.

A BillFold card can be purchased directly from Technocash, from an authorized salesperson, or from another BillFold card login when funds permit and subject to completion of any relevant customer identification and verification procedure. Where a new BillFold is purchased via an existing BillFold card's login, the new BillFold card's login information can be sent to the intended owner by the purchaser. The intended owner should change the password, after which transfer of ownership to them is completed. Prior to this ownership change the original purchaser can still access the login information from within their BillFold. Once a card is paid for Technocash will send the physical card to the address involved in the purchase.

When approved by Technocash, each applicant will be issued with a BillFold Identification Number. Your BillFold Identification Number will not change except in exceptional circumstances and then only with the express agreement of Technocash.

Minimum identification requirements apply to all BillFold accounts - please refer to the full transaction reporting and money laundering prevention terms and conditions in the legal section of the website.

Technocash does not represent or guarantee that access to your BillFold or the Technocash service will be uninterrupted. You acknowledge that access to your BillFold or the Technocash service may be affected by outages, faults and delays however caused. If a malfunction or error in the operation of an Account is identified, the Account holder should contact Technocash via the online feedback form available at Technocash's website/s or using the contact details in the "Contact Us" section of Technocash's website/s

There are two types of BillFold Currency setting - Home Currency or Multicurrency. A Home Currency-only BillFold operates in the nominated Home Currency of a BillFold. A Multi-currency BillFold can hold all currencies available to the TECHNOCASH system.

Technocash may at any time add to, remove, change, vary, or impose conditions upon the functions of all or any BillFolds in any respect without limitation to the fullest extent permitted by law.

BillFold card holders agree to pay the applicable fees and charges. All fees and charges shall be debited from your BillFold card, whether in Home Currency or Multicurrency, subject to any applicable fees and charges for the debiting of the outstanding amount, unless otherwise agreed.

Each BillFold has an expiry date. A Billfold card can be extended upon payment of the appropriate monthly fee where applicable. Monies in a BillFold that has expired and has had no login activity for 365 days or unclaimed monies in a Suspended Monies Billfold Account for 365 days become the sole property of Technocash and are not to be covered under the Technocash Customer Trust.

Technocash aims to maintain your transaction records indefinitely, however Technocash is only required to maintain transaction details in a BillFold for a period of 2 calendar years (or part thereof).

Each individual TECHNOCASH Voucher has a specific expiry date. If a Voucher reaches its expiry date any remaining monetary value becomes the sole property of Technocash.

All BillFold payments and transfers are irrevocable and the sole responsibility of the BillFold holder.

Use of a BillFold constitutes an express acknowledgement of the intellectual property ownership of Technocash in respect of the Technocash Payment system, BillFold, and trademarks.

To the fullest extent permitted by law Technocash is not liable for any loss or damage arising from the operation of your BillFold.

BillFold holders' login process and any ongoing use of their BillFold constitutes an agreement to abide by the BillFold Terms and Conditions with Technocash as amended and posted on the website from time to time. Amendments may be for all or only specified BillFold types.



CashBack Terms and Conditions Summary

The following terms and conditions apply to any retailer or business providing CashBack or participating in a CashBack Program powered by Technocash. If you have signed a Direct Debit Authority to Technocash you are also protected by the terms and conditions of the Direct Debit Service Agreement. Click here to view the Direct Debit Service Agreement Any reference to "you," "your," or "yourself" means the Retailer.

1.1 CashBack Transactions

(a) You agree to process CashBack Transactions. For the purposes of processing these transactions, you will be provided an IMSE Terminal, or you will be able to use your own POS system, or you may use Transaction Books supplied by Technocash for manual entry of CashBack Transaction information.
(b) You agree that Technocash is authorised to withdraw, in relation to each CashBack Transaction, the authorised percentage of the gross sales amount associated with that CashBack Transaction from your TMF BillFold, or from the bank account or credit card or Technocash BillFold nominated by you in accordance with your Direct Debit Authority provided to Technocash. Any amounts withdrawn are inclusive of GST. A percentage of CashBack Transaction value paid by you, as agreed, will be credited to the Technocash BillFold of the customer associated with the transaction. The same percentages and minimum deductions apply for CashBack Transactions through IMSE Terminal/s, your own POS system, and sales online.

1.2 CashBack Programs

(a) Retailers or businesses participating in CashBack Programs powered by Technocash agree to comply with all directions and protocols adopted by Technocash in relation to processing of CashBack Transactions, including the capture of transaction information and transfer of information to Technocash and the operation of the Program.
(b) You must conduct your business in a fair and reasonable manner and in accordance with applicable laws. You have an overriding obligation to act honestly, efficiently and fairly in all aspects of your dealings with Technocash and customers. Where Technocash identifies information obtained by you in relation to CashBack or the Program as confidential you must keep that information strictly confidential.
(c) Where you use the logos, trademarks, or other intellectual property of any other legal person/s in advertising your participation in the CashBack Program you must use only those logos, trademarks, or other intellectual property authorised by those person/s.

1.3 IMSE Terminals

(a) IMSETM is a registered trademark of Technocash in Australia.
(b) All IMSE Terminals remain the property of Technocash. You grant Technocash or its nominated agent the right to enter your business premises where IMSE Terminals are used in order to deliver, withdraw, replace, service, or maintain any IMSE Terminals irrespective of whether your participation in the CashBack Program has been terminated.
(c) You acknowledge that Technocash maintains a right at all times to approve or refuse the provision of any IMSE Terminal/s to you in their absolute and sole discretion.
(d) If you agree to the provision of an IMSE Terminal or an agreed number of IMSE Terminals then such provision does not imply any connection, attachment, right or otherwise in relation to any particular IMSE Terminal/s bearing a particular serial number/s.
(e) Technocash reserves the right to replace your IMSE Terminal/s at any time whereupon you must offer up for return any existing IMSE Terminal/s and begin using the replacement Terminal/s in its/their place. It is your responsibility to maintain records of the dates and serial numbers of IMSE Terminals incoming and outgoing.
(f) Technocash will arrange installation of IMSE Terminals. You must place any IMSE Terminal/s prominently on a counter or otherwise at other points of sale to visibly and actively promote the CashBack Program. You further agree to display, both inside and outside your nominated business premises, logos, stickers, posters and other materials as reasonably requested to advertise your participation in the CashBack Program.
(g) Any IMSE Terminal in your possession must remain turned on and operational throughout the entirety of any given business day.
(h) If any IMSE Terminal should become damaged or broken or is otherwise unusable for any reason you must contact Technocash immediately with details and to schedule a service. You must notify Technocash of any technical difficulties regarding your IMSE Terminal/s or in accepting CashBack.

1.4 Competitions

(a) You should be aware that through your participation in the CashBack Program you may at times have the opportunity to participate in special promotions and competitions. Your participation will be subject to separate terms and conditions of the particular promotion or competition.

1.5 Operator Authorisation Cards

(a) Every IMSE Terminal is supplied with an agreed number of Operator Authorisation Cards. These Cards are your responsibility and must be treated with extreme care as they are used to authorise CashBack Transactions. You must keep all Operator Authorisation Cards safe and secure, and you agree to keep track of and document which staff members have access to the cards and on what terms. You have a positive obligation to advise Technocash of this information. You agree to ensure that only appropriately authorised personnel will be in possession of or trained in the use of the Operator Authorisation Cards at any time.
(b) In the event that an Operator Authorisation Card is lost or stolen you must notify Technocash immediately. Fees and charges apply for additional or replacement cards.
(c) Transactions authorised using the provided Operator Authorisation Cards must be honoured.

1.6 Obligation to Train Staff

(a) It is your responsibility to ensure that all of your staff members who will be handling CashBack Transactions are adequately trained in the use of Operator Authorisation Cards, the IMSE Terminal, and transaction processing cycles.

1.7 Term of Participation in the CashBack Program

(a) The Term of your participation in any CashBack Program is until that Program ends or you participation is otherwise terminated.

1.8 Lost/Damaged IMSE Terminal/s

(a) It is your responsibility to maintain the security and good working order of your IMSE Terminal/s at all times. Technocash retains the right to continue debiting money from you in accordance with your Direct Debit Authority provided to Technocash until the expiration of the term of your participation in the CashBack Program even where any IMSE Terminal/s are lost, damaged or stolen, with the exception that you may not be liable for the portion of time any IMSE Terminal/s is unavailable or inoperative due to a structural or other design flaw.
(b) If IMSE Terminals supplied to you are supplied with a tether you must use the tether to secure the IMSE Terminals.
(c) It is your responsibility to insure any IMSE Terminal/s for an agreed value of $1500 per IMSE Terminal.

1.9 Merchant Review of Transactions

(a) You can log into your TMF BillFold and view your transaction details and histories online 24 hours a day.
(b) Technocash will use its best endeavours to ensure daily reporting on all transactions. Daily transaction information is processed overnight and a report will be available the next business day. It is your responsibility to review any transaction information - especially to review whether the transaction summaries reflect correct dollar values - and to inform Technocash immediately in the case of any discrepancy or other objection. If Technocash receives no directions to do otherwise before the close of the same business day, it will disperse CashBack funds to customers and others as appropriate and no consideration will be given to any objection raised by you following this dispersal.
(c) It remains your responsibility to review transaction information even where no notification or summary reports are received. You can do this by logging in to your TMF BillFold and reviewing your transaction details and history.

1.10 Refunds

(a) Where you provide a refund to a customer for a CashBack purchase you must only refund the sale value less the CashBack amount already provided.

(b) Where you refund a customer Technocash will use its best endeavours to recoup CashBack funds dispersed to that customer and credit the funds back to your TMF BillFold. Other CashBack funds related to the transaction cannot be reclaimed and will have already been used to cover costs.

1.11 Merchant Specials

(a) There will at all times be an assumption that all goods and services offered by you provide CashBack rewards unless it is expressly and noticeably stated otherwise. It is the responsibility of yourself and the holder of the Operator Authorisation Card authorizing the transaction to ensure that customers are fully informed, prior to purchasing goods or services, that the particular goods or services do or do not carry CashBack rewards.
(b) You indemnify Technocash against any loss or damage arising from complaints received by customers in relation to a failure to observe the above practices, and against any claims that customers may make against Technocash rising out of your actions.

1.12 Customer Complaints/Dispute Resolution

(a) If any customer has a complaint in relation to the CashBack Program you must inform Technocash or its nominated agent/s immediately and provide the customer in question with Technocash's or its nominated agent/s contact details so that the complaint can be dealt with in accordance with Technocash's Complaints Handling and Dispute Resolution Policy.

1.13 Amendment to Terms and Conditions

(a) Technocash may amend these terms and conditions by posting notice on its website. Any amendments take effect 7 (seven) days after the date of notification with the exception that in the case of amendments affecting fees or charges the amendments take effect 30 days after the date of notification of amendment.

1.14 GST

(a) The percentage of the total funds withdrawn by Technocash in relation to any CashBack Transaction is GST inclusive.
(b) You agree that Technocash, as holder of an ABN and registered for GST, acts as an agent for GST purposes and as such may issue adjustment notices, and recipient created tax invoices to CashBack customers in respect of CashBack Transaction GST components, and that these are issued via the BillFold login on demand.
(c) You further agree that: (i) You can log in to your BillFold at any time and view GST tax invoices associated with CashBack Transactions; (ii) you will not issue tax invoices in respect of CashBack Transactions; and (iii) you are registered for GST and will notify Technocash when you cease to be so registered.
(d) Technocash indemnifies you for any liability for GST and penalty that may arise from an understatement by Technocash, on a tax invoice it issues, of the GST payable on any specified CashBack Transactions.

1.15 Advertising

(a) You agree your participation in the CashBack Program may be advertised.
(b) Advertising may be placed visually on-screen on the IMSE Terminal/s provided to you as well as on the casing of any IMSE Terminal/s. Advertising may include advertising for other retailers and merchants who may or may not be participating in the CashBack Program. In these cases Technocash will use its best endeavours to match suitable advertising to the IMSE Terminal/s provided to you by, for example, not advertising direct competitors.
(c) Your participation in the CashBack Program may also be advertised through the distribution of promotional material via emails, SMS messages, newsletters and other means.
(d) You may also advertise through IMSE Terminals for agreed fees.

1.16 Direct Debits

(a) You must provide to Technocash any bank (or other financial institution) account or credit card details using only the approved Technocash Direct Debit Authority application form. Direct debits will be processed based on the information on your Direct Debit Authority and in accordance with the terms and conditions contained in the Direct Debit Service Agreement.

1.17 Miscellaneous

(a) Each CashBack Transaction is generally based on the currency of the country of the premises in which the IMSE Terminal that processed the transaction is.
(b) Technocash may allow credit card payments for CashBack Transactions.
(c) Technocash excludes all implied terms, conditions and warranties to the full extent permitted by law. If any law implies a term, condition or warranty in these terms and conditions, that term, condition or warranty is included in these terms and conditions only to the minimum extent required.

1.18 Termination

(a) Technocash may withdraw any IMSE Terminal/s from you at any time and terminate your participation in the CashBack Program by giving you notice in writing if: * Technocash determines that your sales are unsatisfactory; * You fail to process all CashBack Transactions; * You fail to adequately train staff; * You breach any of these terms and conditions or any other Technocash terms and conditions; * You have a liquidator, provisional liquidator, receiver or administrator appointed to you or any of your assets, you are placed into bankruptcy, any step is taken to effect any of these things or any other similar event occurs; or * Technocash considers that your continued participation in the CashBack Program is detrimental to the program or that you are not an appropriate participant in the program, or where the Program ends. Any right of Technocash to deduct monies from you in accordance with your Direct Debit Authority ceases where Technocash withdraws your IMSE Terminal/s, subject to the requirement that any outstanding monies from CashBack Transactions remain payable.
(b) You will have no right to recover any compensation or damages from Technocash or any other person as a result of Technocash terminating your participation in the CashBack Program.

1.19 Definitions

For CashBack Terms and Conditions:

"CashBack" or "CashBack Program" means Technocash's loyalty cash reward program/s providing cash rewards for customers who purchase goods or services from participating retailers.
"CashBack Transaction" means a transaction authorised by an eligible retailer participating in the CashBack Program/s for which a customer receives cash rewards.
"Direct Debit Authority" means the authority granted by retailers participating in the CashBack Program/s to Technocash allowing Technocash to deduct an agreed percentage from CashBack Transactions, fees, charges and Government charges.
"IMSE Terminal" means an Interactive Multimedia Sales Event Terminal, developed by Technocash, patent pending.
"Operator Authorisation Card" means a security card issued by Technocash to participating retailers for the participating retailer's management and staff which allows for the authorisation of CashBack Transactions using an IMSE Terminal.
"TMF" or "Technocash Merchant Facility BillFold" means the Technocash product held by participating retailers providing retail and CashBack functionality.



Dispute Resolution System

Handling complaints and resolving disputes quickly and fairly is very important to us and our customers. Technocash has an internal complaints handling and dispute resolution system and is also a member of the Financial Ombudsman Service (FOS), our independent and impartial ASIC-approved External Dispute Resolution Scheme.

If you are an owner of a Technocash product and have a complaint, you should contact Technocash via any of the following methods:

  • Feedback Form on our website
  • Email us at feedback@technocash.com
  • Fax us on +61 2 9687 1911
  • Ring us on +61 2 9687 1900

    • Our system has strict target timeframes for the resolution of disputes. If you feel your complaint has not been satisfactorily handled or resolved following our internal process you can contact the FOS, whose contact details are as follows:

    Address: GPO Box 3, Melbourne, VIC, 3001
    Phone: 1300 78 08 08 (Mon to Fri 9am-5pm AEST)
    Fax: (03) 9613 6399
    Email: info@fos.org.au
    Web: www.fos.org.au

    We have a dispute resolution policy and you can contact us via phone, fax or email for a copy or more information. If you are on the internet, we are also able to provide you with our dispute resolution policy in PDF form Click here.. We also have a dedicated webpage for your feedback Click here..


    PDS Changes

    This PDS is up to date as of the date of its preparation as indicated in the header of the document. This PDS may be updated without the need to notify you if the updated information is not materially adverse to you. Any updated information may be obtained at any time from Technocash Pty Ltd for no charge.
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