As one of the top Australian payment gateway systems, redPAY customers can rest assured knowing that their finances are being processed by a secure and trusted company.

Did you know that redPAY holds an Australian Financial Services License (AFSL #538499)? This makes redPAY a highly trusted, and reputable financial service.

All AFSL holders can be found via the Professional Registers.

How is an AFS License Achieved?

To achieve an AFS License, companies undergo a lengthy and complicated application process.

AFS license is only granted if the companies can meet and maintain the basic standards by ASIC such as training, compliance, insurance, securities, and dispute resolution:

  • Staff Vetting and Training
  • Compensation and Insurance Arrangement
  • Financial Liability – audits by ASIC and reporting
  • Risk Management and Interest Conflict Management
  • Conduct and Disclosure
  • Technology Standards

Redbourne (redPAY’s owner) has a long history of government compliance. Redbourne has secured a number of large, state and federal government contracts by meeting several minimum standards. Some of these include:

  • IT and data security to a level suitable for holding and managing government health and police data.
  • A software development process that delivers trusted and reliable systems.
  • Back-up resources in software development and customer support.
  • Software products that are up to date with modern practices, frameworks and tool sets.
  • A professional approach to software development and product support

Of course, the AFS License is now a part of this list.

Why choose redPAY?

In compliance with the AFS standards, Australian businesses are ensured that redPAY provides:

  • Adequate financial, technological and human resources
  • Funds in reserve – extra security for businesses in difficult situations
    • Ability to pay debts
  • More freedom to process transactions in a multitude of different ways

 

In dealing with AFS licensed businesses, you can ensure better protection for your service in difficult situations. That’s why so many choose redPAY. To learn more about redPAY and how we operate, click here.

If you’d like to learn more about AFS Licensing, click here.