AU-1.2.8
Past version: Effective from 01 Apr 2016 to 31 Mar 2017
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For the purposes of Volume 5 (Specialised Licensees), regulated ancillary services, in relation to a payment service provider, acting as an intermediary for the following services which include:
(a) Services enabling cash to be placed on an escrow account and all of the operations required for operating an escrow account;
(b) Services enabling cash withdrawals from an escrow account and all of the operations required for operating an escrow account;
(c) The settlement of the direct debits of payment transactions;
(d) Integrating customer delivery channels to enterprises to enable transactions at delivery channels (e.g. ATMs, POS, Interactive Voice Response, mobile, internet); and
(e) Interfacing with external networks/institutions (e.g. national switch, VISA, MasterCard), enabling automated exchange of transactions between the enterprise and external networks.
April 2016