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TRANXACTOR CUSTOMER SERVICES TERMS & CONDITIONS 

This document contains the Tranxactor Customer Services Terms and Conditions and the Tranxactor Privacy Policy. Together, they set out the terms governing customer Products and Services and the privacy commitments that apply to the handling of personal information. 

Published and Effective Date 

Effective Date: 1 August 2026 

These Terms and Conditions govern the relationship between you and Tranxactor New Zealand Limited, trading through its PayZe products and services (“Tranxactor”, “we”, “us” and “our”), when you use any consumer payment products or services offered by us. 

These Terms must be read together with the following documents and schedules, each of which forms part of the applicable customer terms: 

  • The Tranxactor Privacy Policy; 
  • Any applicable Product Schedule; 
  • Any applicable Fee Schedule; 
  • Any promotional programme terms. 

By registering for, purchasing, activating, accessing or using any Product or Service, you agree to be bound by these Terms. 

PART A 

GENERAL TERMS 

1. Definitions 

Account means a PayZe Wallet account or any other customer account established with Tranxactor. 

Available Balance means the amount available for use on a Card, Wallet or Product. 

Card means a physical prepaid card, virtual prepaid card or any successor payment instrument issued by Tranxactor. 

Customer means the individual who acquires, registers, activates or uses a Product. 

Fee Schedule means the schedule of fees published by Tranxactor from time to time. 

Product means any gift card, wallet, stored-value account, loyalty programme, payment service or related product offered by Tranxactor. 

Services means all services provided by Tranxactor in connection with Products. 

Wallet means a PayZe digital wallet account. 

2. Eligibility 

To use our Services you must: 

  • be at least 18 years of age; 
  • have legal capacity to enter into agreements; 
  • provide information requested by us; 
  • comply with these Terms; 
  • comply with applicable laws. 

We may refuse any application at our discretion. 

3. Your Information 

You must ensure information provided to us is: 

  • accurate; 
  • current; 
  • complete; 
  • not misleading. 

You must promptly notify us of material changes to your information. 

4. Electronic Communications 

You consent to receiving communications electronically including: 

  • notices; 
  • statements; 
  • alerts; 
  • service notifications; 
  • policy updates; 
  • security notifications. 

Electronic communications may be delivered through: 

  • email; 
  • wallet notifications; 
  • SMS; 
  • website notifications; 
  • mobile applications. 

5. Privacy

Collection, use, disclosure and storage of personal information is governed by the Tranxactor Privacy Policy. 

The Privacy Policy forms part of these Terms. 

PART B 

CUSTOMER RESPONSIBILITIES 

6. Security 

You must: 

  • protect Cards and devices; 
  • maintain secure passwords; 
  • not share login credentials; 
  • promptly report loss, theft or compromise. 

We may treat actions performed using valid credentials as authorised unless we have been notified otherwise. 

7. Prohibited Activities 

You must not: 

  • use Services unlawfully; 
  • provide false information; 
  • engage in fraud; 
  • attempt to circumvent security measures; 
  • use Services to facilitate criminal activity; 
  • use Products in breach of sanctions laws; 
  • interfere with our systems. 

PART C 

AML, SANCTIONS AND COMPLIANCE 

8. Verification Requirements 

We may request information necessary to: 

  • verify identity; 
  • verify age; 
  • verify address; 
  • verify source-of-funds information; 
  • verify source of wealth; 
  • verify ownership of payment instruments; 
  • satisfy AML/CFT obligations. 

Failure to provide requested information may result in: 

  • delayed transactions; 
  • restricted Services; 
  • suspension; 
  • closure. 

9. Ongoing Monitoring 

We may monitor: 

  • transactions; 
  • Account activity; 
  • Wallet activity; 
  • device information; 
  • usage patterns; 

for compliance, fraud prevention and risk management purposes. 

10. Sanctions and Regulatory Requirements 

We may delay, block, suspend or refuse any transaction where we reasonably believe it may: 

  • breach sanctions laws; 
  • breach AML/CFT requirements; 
  • breach legal obligations; 
  • expose Tranxactor to regulatory risk. 

We are not liable for delays resulting from such obligations. 

PART D 

SUSPENSION, TERMINATION AND SERVICE CLOSURE 

11. Suspension 

We may suspend any Product or Service where reasonably necessary to: 

  • investigate fraud; 
  • investigate suspicious activity; 
  • comply with law; 
  • protect customers; 
  • protect our systems; 
  • protect our business. 

Suspension may occur without prior notice. 

12. Closure Requested by Customer 

You may request closure of: 

  • a Wallet; 
  • a customer Account; 
  • PayZe Club membership; 
  • any other Product relationship. 

Closure may be delayed where: 

  • transactions remain pending; 
  • legal obligations apply; 
  • disputes remain unresolved; 
  • compliance reviews are ongoing. 

13. Closure by Tranxactor 

We may suspend, restrict, deactivate or permanently terminate any Product, Account, Wallet or customer relationship where: 

Compliance Reasons 

  • AML/CFT concerns; 
  • sanctions concerns; 
  • law enforcement requests; 
  • court orders; 
  • regulatory requirements. 

Risk Reasons 

  • fraud risk; 
  • operational risk; 
  • reputational risk; 
  • financial crime risk. 

Customer Conduct 

  • breach of Terms; 
  • misleading information; 
  • misuse of Services; 
  • attempted fraud; 
  • unlawful activity. 

Business Reasons 

  • product withdrawal; 
  • platform changes; 
  • market exit; 
  • operational restructuring; 
  • commercial viability decisions. 

General Rights 

We may terminate a customer relationship where continued provision of Services is inconsistent with our risk appetite, legal obligations or business requirements. 

14. Notice of Closure 

Where reasonably practicable, we will provide at least 30 days’ written notice before closure takes effect. 

Immediate closure may occur where: 

  • required by law; 
  • fraud is suspected; 
  • criminal activity is suspected; 
  • customer safety is affected; 
  • immediate action is required to manage risk. 

15. Effects of Closure 

Upon closure: 

  • access to Services ceases; 
  • access credentials may be disabled; 
  • Cards may be cancelled; 
  • Wallet functionality may cease; 
  • pending transactions may be completed, suspended or cancelled; 
  • accrued obligations survive termination. 

16. Outstanding Balances 

Where a Product is closed and an Available Balance remains, Tranxactor may: 

  • permit continued spending within a specified period; 
  • transfer balances to a replacement product; 
  • refund balances; 
  • return funds to the original funding source; 
  • hold funds where required by law. 

Applicable fees, foreign exchange costs and third-party charges may be deducted where permitted by law. 

17. Dormant Accounts 

An Account may be classified as dormant if it has been inactive for 24 consecutive months, or for such other period specified in a Product Schedule. 

We may close dormant Accounts following reasonable notice. 

18. Product Discontinuation 

Tranxactor may discontinue: 

  • a Product; 
  • a feature; 
  • a rewards programme; 
  • a service channel; 
  • a payment capability; 

at its discretion. 

Where practical, affected customers will receive at least 30 days’ prior notice. 

19. No Right to Ongoing Service 

Nothing in these Terms creates any obligation for Tranxactor to continue operating a Product indefinitely. 

PART E 

LIABILITY 

20. Limitation of Liability 

Subject to applicable law: 

Tranxactor is not liable for: 

  • indirect loss; 
  • consequential loss; 
  • loss of profits; 
  • loss of opportunity; 
  • reputational damage. 

To the extent permitted by law, liability will be limited to: 

  • replacement of a Product; 
  • re-supply of a Service; or 
  • the Available Balance of the affected Product. 

21. Indemnity 

You indemnify Tranxactor against loss arising from: 

  • your breach of these Terms; 
  • unlawful conduct; 
  • fraudulent activity; 
  • misuse of Products. 

PART F 

DISPUTES 

22. Complaints 

Customers should first contact Tranxactor Customer Support. 

We will investigate complaints within reasonable timeframes. 

23. External Dispute Resolution 

If unresolved, complaints may be referred to: 

Financial Dispute Resolution Service (https://fdrs.org.nz)

or any successor dispute resolution scheme. 

PART G 

GENERAL 

24. Changes to Terms 

Tranxactor may amend these Terms. 

Material changes will generally be notified at least 30 days before taking effect unless immediate changes are required by: 

  • law; 
  • security concerns; 
  • fraud prevention requirements. 

25. Assignment 

Tranxactor may assign its rights and obligations under these Terms. 

Customers may not assign rights without written consent. 

26. Governing Law 

These Terms are governed by New Zealand law. 

PRODUCT SCHEDULE 1 

PAYZE GIFT CARDS 

(Active) 

Card Validity 

Gift Cards are valid for 36 months from issue unless otherwise stated. 

Loading 

Gift Cards are non-reloadable. 

Cash Access 

Gift Cards cannot: 

  • be redeemed for cash; 
  • be used at ATMs; 
  • support peer-to-peer transfers. 

Expiry 

Unused value remaining after expiry is subject to applicable law and programme rules. 

Lost or Stolen Cards 

Replacement cards may be issued subject to: 

  • proof of ownership; 
  • available balance thresholds; 
  • payment of replacement fees. 

PRODUCT SCHEDULE 2 

PAYZE WALLET 

(Active) 

Wallet Access 

Customers may create and manage Wallet profiles. 

Virtual Cards 

Wallets may support digital card functionality. 

Account Controls 

Customers may: 

  • lock cards; 
  • review balances; 
  • review transaction history. 

Wallet Closure 

Customers may request Wallet closure at any time. 

PRODUCT SCHEDULE 3 

PAYZE RELOAD SERVICES 

(Currently Unavailable) 

This schedule only applies where Reload Services have been activated by Tranxactor. 

Reload Capability 

Approved customers may load funds to Wallets using approved payment methods. 

Verification 

Additional identity verification may be required. 

Source of Funds 

Customers may be required to provide source-of-funds information. 

Load Limits 

Tranxactor may impose: 

  • daily limits; 
  • monthly limits; 
  • balance limits. 

Enhanced Monitoring 

Reload products may be subject to enhanced AML/CFT monitoring. 

PRODUCT SCHEDULE 4 

PAYZE PEER-TO-PEER TRANSFERS 

(Currently Unavailable) 

Transfer Rights 

Eligible customers may transfer value between approved Wallets. 

Transfer Restrictions 

Tranxactor may restrict: 

  • transaction values; 
  • recipient types; 
  • transfer frequency. 

Compliance 

All transfers remain subject to AML/CFT review. 

PRODUCT SCHEDULE 5 

PAYZE ATM SERVICES 

(Currently Unavailable) 

Cash Access 

Customers may withdraw cash from approved ATMs. 

Limits 

ATM withdrawal limits may apply. 

Verification 

Enhanced customer due diligence may apply. 

Monitoring 

Cash withdrawal activity may be subject to additional compliance monitoring. 

PRODUCT SCHEDULE 6 

PAYZE CLUB 

(Active) 

Membership 

Membership is available to eligible customers. 

Promotions 

Benefits may change or be withdrawn at any time. 

Termination

Membership may be terminated independently of other Products. 

TRANXACTOR PRIVACY POLICY 

Version 1.1 (New Zealand Financial Services Edition) 

1. OUR PRIVACY COMMITMENT 

Tranxactor is committed to protecting personal information and maintaining the confidentiality, integrity and security of the information entrusted to us. 

We are committed to: 

  • complying with the Privacy Act 2020 (New Zealand); 
  • complying with applicable Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) legislation; 
  • complying with applicable sanctions laws and financial crime prevention obligations; 
  • collecting only information reasonably necessary for legitimate business purposes; 
  • using information fairly, lawfully and transparently; 
  • protecting information from unauthorised access, misuse, loss, alteration or disclosure;
  • maintaining appropriate technical, organisational and security safeguards. 

We regularly review our privacy and security controls to ensure they remain appropriate for the Products and Services we provide. 

2. PRIVACY OFFICER 

Tranxactor has appointed a Privacy Officer responsible for overseeing compliance with privacy obligations and for managing privacy requests, complaints and enquiries. 

Privacy Officer 
Tranxactor New Zealand Limited 
Email: [email protected] 

The Privacy Officer may be contacted regarding: 

  • access requests; 
  • correction requests; 
  • privacy complaints; 
  • privacy breaches; 
  • questions about this Privacy Policy; 
  • concerns regarding the handling of personal information. 

3. DISCLOSURE OF INFORMATION 

3.1 Financial Crime Prevention 

We may disclose personal information where reasonably necessary for: 

  • fraud prevention; 
  • sanctions screening; 
  • anti-money laundering compliance; 
  • counter-terrorism financing compliance; 
  • suspicious activity investigations; 
  • transaction monitoring; 
  • financial crime prevention activities; 
  • protection of customers, Tranxactor and the wider financial system. 

Such disclosures may be made to: 

  • regulators; 
  • financial intelligence units; 
  • law enforcement agencies; 
  • card schemes; 
  • banking partners; 
  • fraud prevention providers; 
  • compliance service providers. 

Where required by law, we may be prohibited from informing a customer that such disclosures have occurred. 

4. OVERSEAS DISCLOSURE 

Personal information may be stored, processed or accessed outside New Zealand where operationally necessary. 

This may occur when we engage: 

  • cloud service providers; 
  • technology service providers; 
  • fraud prevention platforms; 
  • identity verification providers; 
  • payment networks; 
  • international business partners. 

Where personal information is disclosed outside New Zealand, Tranxactor will take reasonable steps to ensure that the recipient is subject to privacy protections that provide safeguards comparable to those available under New Zealand privacy law, or otherwise ensure that the disclosure is permitted under applicable law. 

Customers acknowledge that certain Products and Services may require information to be processed internationally in order to facilitate: 

  • payment transactions; 
  • security monitoring; 
  • identity verification; 
  • fraud prevention; 
  • customer support. 

5. DATA RESIDENCY 

Customer information may be stored in New Zealand or in other jurisdictions utilised by Tranxactor’s approved service providers and technology partners. 

Depending on the Products and Services used, customer information may be processed in jurisdictions including, but not limited to: 

  • New Zealand; 
  • Australia; 
  • Singapore; 
  • United States; 
  • other jurisdictions in which approved service providers operate. 

The actual location of processing may change as Tranxactor’s technology infrastructure evolves. 

Regardless of where information is processed, Tranxactor will take reasonable steps to ensure appropriate security and privacy protections are maintained. 

6. PRIVACY BREACHES 

Tranxactor maintains procedures for identifying, investigating, managing and responding to privacy incidents and security events. 

If we become aware of a privacy breach involving personal information, we will investigate the incident and take appropriate remedial action. 

Where a privacy breach is assessed as being likely to cause serious harm, Tranxactor will comply with applicable legal obligations, which may include: 

  • notifying affected individuals; 
  • notifying the Office of the Privacy Commissioner; 
  • taking steps to reduce or prevent harm; 
  • implementing corrective measures designed to prevent recurrence. 

Not every security event or system incident will constitute a notifiable privacy breach. 

7. BIOMETRIC AUTHENTICATION 

Some Wallet or mobile application features may utilise biometric authentication technologies available on a customer’s device, including: 

  • Face ID; 
  • Touch ID; 
  • fingerprint authentication; 
  • facial recognition authentication. 

In most cases, biometric authentication is managed directly by the operating system provider and device manufacturer. 

Tranxactor does not typically collect, store or retain biometric templates or biometric identifiers used by customers on their personal devices. 

Customers should refer to the privacy policies of their device manufacturer and operating system provider for information regarding the collection and storage of biometric information. 

8. RETENTION OF INFORMATION

We retain personal information only for as long as reasonably necessary to fulfil the purposes for which it was collected and to satisfy legal, regulatory and operational requirements. 

Factors considered include: 

  • the nature of the information; 
  • the purpose for which it was collected; 
  • applicable legal requirements; 
  • dispute resolution requirements; 
  • fraud prevention requirements; 
  • security obligations; 
  • regulatory obligations. 

8.1 AML/CFT and Financial Records 

Unless a longer period is required by law, we may retain: 

  • customer identification records; 
  • verification records; 
  • transaction records; 
  • Account records; 
  • Wallet records; 
  • Card activity records; 
  • monitoring records; 
  • sanctions screening records; 
  • compliance records; 
  • communications records relating to regulated Products and Services; 

for a minimum period of: 

Seven (7) years after the end of the customer relationship or longer where required by law, regulation, court order or regulatory direction. 

8.2 Fraud, Compliance and Investigation Records 

Information associated with: 

  • fraud investigations; 
  • suspicious activity reviews; 
  • legal proceedings; 
  • regulatory enquiries; 
  • security incidents; 

may be retained for longer where necessary to protect legitimate interests or comply with legal obligations. 

8.3 Marketing Information 

Marketing preferences, campaign participation information and promotional records will generally be retained only for as long as reasonably necessary to: 

  • administer marketing programmes; 
  • maintain communication preferences; 
  • comply with legal obligations; 
  • manage customer relationships. 

Customers may opt out of marketing communications at any time. 

8.4 De-Identification and Anonymisation 

Where appropriate, personal information may be: 

  • anonymised; 
  • aggregated; 
  • de-identified; 

for statistical, analytical, product development, fraud prevention and business intelligence purposes. 

Information that has been irreversibly de-identified is no longer treated as personal information. 

9. ACCOUNT CLOSURE AND DELETION 

Closure of a Wallet, Account or Product relationship does not automatically require the deletion of information where retention is required for: 

  • AML/CFT compliance; 
  • fraud prevention; 
  • dispute resolution; 
  • legal proceedings; 
  • taxation purposes; 
  • regulatory obligations; 
  • financial crime prevention; 
  • enforcement of contractual rights. 

Deletion requests will be assessed on a case-by-case basis having regard to applicable legal obligations and legitimate business requirements.