AFIA's BNPL members have made nine commitments to you as a customer.
We will focus on customers…
By providing high quality products and services that are inclusive and accessible.
By ensuring our staff treat you with sensitivity, understanding and best industry practice, especially when it comes to the factors that
are or could contribute to you being financially vulnerable.
By having safeguards in place to ensure the product or service is suitable for you, including age restrictions (18+) and being responsive to feedback and
We will be fair, honest and ethical in all our dealings...
By not allowing our platforms to be used to purchase goods or services that have legal and regulatory restrictions on finance being
provided for them, e.g. gambling and illegal weapons.
By taking steps to ensure that there is no unlawful unsolicited marketing or selling of BNPL products or services.
We will keep you informed about our product or service…
By being transparent about instalments, features andfees involved with your BNPL
With an inclusive and accessible digital platform that will provide accurate resources and information before and throughout your BNPL contract.
We will make sure our BNPL product or service is suitable for you…
By assessing your suitability for the desired BNPL product or service. This is done by assessing your vulnerability and your ability to make the
scheduled repayments, using a range of data points. For existing customers, this includes taking your repayment history into account (looking at whether you have made payments on
If you are behind on your repayments, we will not provide you with any additional BNPL products or services.
For amounts over either $2,000 or $3,000 (depending on whether you are a new or existing customer), we will use data sourced either from you or a
For BNPL amounts over $15,000, we will need to use both your data and third-party-sourced data when making our decision.
What do we mean by your data? For example, we may need to look at your bank statement to verify your income.
What do we mean by third-party sourced data? For example, we may need to conduct a credit check on you.
We will undertake an ongoing review of the suitability of our products or services…
By monitoring how existing customers are using our BNPL products and services. This will allow us to better understand vulnerable or unsuitable customers
as well as enhance the suitability of our products and services.
In our monitoring we will use a variety of data, feedback and complaint resolutions.
We will deal fairly with complaints…
By providing an accessible and transparent complaint process that complies with the Australian Securities and Investment Commission’s internal dispute resolution standards.
By acknowledging all complaints within 1 business day, or as soon as practicable, and providing a written response within 10 business
days from the date of the complaint.
By being a member of the Australian Financial Complaints Authority (AFCA) so that you may lodge a complaint with them, if you are
dissatisfied with our response.
If you are not satisfied with AFCA’s response, you will be able to escalate the complaint to the BNPL Code
Compliance Committee (here).
We will offer financial hardship assistance…
By ensuring you can submit a Hardship Request that is fair and accessible.
By responding to your Hardship Request within 21 days of receiving it and clearly communicating the options available to assist with
We will freeze any late fees while we are considering your Hardship Request, and where we find we cannot grant you hardship assistance,
we will give you fair and justified reasons.
We will comply with our legal and industry obligations…
By maintaining good practice, respecting your privacy and not permitting your personal or financial information to be shared with other
finance providers unless used for the
purpose of credit reporting or we receive your express consent.
We will comply with relevant unfair contract laws.
We will support and promote this Code…
Through accessibility and promotion on our website and other digital platforms.
With trained staff (regularly reviewed) that understand the various aspects of the Code and how to comply with it.