World Prime Pty Ltd (ACN 681 841 083), trading as ”Worldprime” (“World Prime”, “we”, “us”, “our”), is a proprietary company incorporated in Australia with its registered office at 70 Barney Street, Kiama NSW 2533.
These Terms of Use (the “Terms of Use” or “Agreement”) govern your use of the Services and form a legally binding agreement between you and World Prime. By accessing or using the Services, you agree to be bound by these Terms of Use.
These Terms of Use are governed by the laws of New South Wales, Australia. Nothing in these Terms of Use excludes, restricts or modifies any right or remedy you may have under the Australian Consumer Law (Schedule 2 to the Competition and Consumer Act 2010 (Cth)) or any other applicable law which cannot be lawfully excluded.
THE SERVICES
Nature of the Services
World Prime provides an Australian-based payment facilitation and remittance service that enables users to submit funds to World Prime for the sole purpose of remittance to merchants approved by World Prime.
World Prime acts as a payment intermediary in facilitating remittance to approved merchants and does not provide goods or services sold by merchants.
The Services are limited to facilitating payments and remittance from customers to merchants approved by World Prime and do not include stored-value, peer-to-peer, or general wallet functionality.
World Prime Profile
As part of the Services, World Prime provides you with a World Prime Profile and payment and remittance services enabling you to submit funds and instruct World Prime to remit those funds to merchants approved by World Prime.
World Prime will make available to you, through your World Prime Profile, an overview of your remittance instructions and related transactions processed through the Services. This information is provided for record-keeping purposes only. The transaction overview does not constitute a statement of account, balance, or stored value, and does not represent funds held on your behalf other than as described in these Terms.
Information displayed in the World Prime Profile may be subject to processing delays and should not be relied upon as real-time confirmation of remittance completion.
The World Prime Profile is an administrative record maintained by World Prime and does not constitute a separate legal account or facility. You must not assign, transfer or otherwise deal with your World Prime Profile or grant any third party any legal or beneficial interest in it.
Funds Handling
All remittance transactions are processed in Australian dollars (AUD) unless otherwise agreed by World Prime.
Funds held during the course of a remittance do not constitute a bank deposit, do not earn interest, and are not protected by any Australian government deposit guarantee or compensation scheme.
Your World Prime Profile is not a bank account, and World Prime is not an authorised deposit-taking institution (ADI) for the purposes of the Banking Act 1959 (Cth). Any funds submitted to World Prime are held only for the purpose of executing your remittance instruction to an approved merchant and not for long-term storage or general use.
OPENING YOUR WORLD PRIME PROFILE
To access the Services, you must create a World Prime Profile in accordance with these Terms.
You must be at least eighteen (18) years of age to use the Services. World Prime may request evidence of age at any time.
You may only create and use one (1) World Prime Profile unless World Prime expressly approves otherwise.
All information provided by you must be accurate, complete and kept up to date at all times. World Prime may request additional information or documentation (including identity, address and source-of-funds information) to comply with applicable laws, including AML/CTF Laws.
Failure to provide requested information or documentation may result in suspension or termination of your World Prime Profile.
You may only add payment methods for which you are the named account holder. Any attempt to use a third-party payment method constitutes a material breach of these Terms of Use.
The Services are intended for consumer payments to approved merchants. If you wish to use the Services for business or commercial remittance, you must obtain World Prime’s prior written approval.
KEEPING YOUR PROFILE SAFE
You must take all reasonable steps to keep your login credentials and security features secure and confidential at all times and must not disclose them to any third party.
If you become aware of, or reasonably suspect, unauthorised access to or misuse of your World Prime Profile or its security features, you must notify World Prime immediately and take all reasonable steps to mitigate any loss.
Except where Australian law requires otherwise, you are responsible for losses resulting from your failure to safeguard your profile credentials or from unauthorised use of your profile caused by your fraud, negligence or breach of these Terms of Use.
SUBMITTING FUNDS FOR REMITTANCE
To submit funds for remittance, you must log into your World Prime Profile and follow the instructions provided. Available payment methods may vary depending on your verification status and the payment methods supported by World Prime from time to time.
Funds submitted to World Prime must be accompanied by a valid remittance instruction to an approved merchant.
Certain payment methods may be provided by third-party payment service providers and do not form part of the Services. World Prime does not guarantee the availability of any particular payment method.
Funds are received by World Prime for the purpose of executing your remittance instruction and will be remitted to the relevant approved merchant once received and cleared, subject to applicable checks.
Remittance processing times may vary depending on the payment method used, the time required for funds to clear through the relevant banking system (including PayID), and the completion of any applicable compliance or security checks. World Prime does not guarantee instant or same-day remittance.
If a submitted payment is reversed, declined or charged back for any reason and results in an amount owing to World Prime, you must immediately repay that amount.
SENDING PAYMENTS TO MERCHANTS
To send a payment, you must submit a remittance instruction to World Prime. Once funds have been credited to the approved merchant, the transaction will generally be irreversible.
World Prime may disclose your registered name and other information reasonably required to the merchant for the purpose of processing the payment.
The Services do not currently support peer-to-peer transfers, consumer-to-consumer payments, or general wallet functionality unless expressly enabled by World Prime in the future and subject to updated terms.
Any dispute regarding goods or services provided by a merchant must be resolved directly between you and the merchant.
World Prime facilitates remittance to merchants but does not supply, control, or guarantee the goods or services provided by merchants. World Prime is not responsible for a merchant’s performance, solvency, or failure to deliver goods or services.
Once funds have been successfully remitted to a merchant, any risk relating to the merchant, including non-delivery or insolvency, remains with you, subject to any rights you may have under applicable law.
If you believe you have submitted a remittance instruction in error, you must notify World Prime as soon as possible. World Prime will take reasonable steps to assist in recovering the funds where practicable, but recovery cannot be guaranteed once funds have been remitted to a merchant.
PROHIBITED TRANSACTIONS
You must not use the Services for any unlawful purpose, including fraud, money laundering or terrorism financing.
You must not use the Services to send or receive payments in connection with prohibited goods or services, including illegal gambling, illegal drugs, weapons, counterfeit goods or any other categories notified by World Prime from time to time.
World Prime may suspend, reverse or refuse to process transactions and may suspend or terminate your World Prime Profile where it reasonably suspects prohibited use or where required by law.
ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING
World Prime is subject to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and associated rules (“AML/CTF Laws”).
World Prime’s AML/CTF obligations apply to all remittance instructions and related transactions facilitated through the Services.
To comply with its obligations under AML/CTF Laws, World Prime may be required to:
a. identify and verify your identity and, where applicable, the source of funds used in connection with your World Prime Profile;
b. monitor transactions conducted through your World Prime Profile; and,
c. collect, verify and retain information and documents relating to your use of the Services.
World Prime may delay, block, suspend or refuse to process any transaction, or suspend or terminate your World Prime Profile, where World Prime reasonably considers such action necessary to comply with AML/CTF Laws or where it reasonably suspects money laundering, terrorism financing, fraud or other financial crime.
World Prime may be required by law to report certain information or transactions to AUSTRAC or other competent authorities and may be prohibited by law from notifying you that such reporting has occurred.
You must promptly provide all information and documents reasonably requested by World Prime for AML/CTF purposes. Failure to do so may result in suspension or termination of your World Prime Profile.
RETURNING FUNDS
Where funds cannot be remitted to an approved merchant due to error, reversal, or compliance reasons, you may request the return of the funds using one of the methods made available by World Prime (for example, reversal to the original payment method or return to a nominated bank account in your name).
Return requests are subject to verification, applicable limits and compliance checks.
You must ensure that return details are accurate and that the destination account is held in your name. World Prime is not liable for losses arising from incorrect details provided by you.
YOUR DATA
World Prime handles personal information in accordance with the Privacy Act 1988 (Cth) and its Privacy Policy, available on World Prime’s website.
LIABILITY
Where a payment is incorrectly executed due to an error by World Prime, World Prime will take reasonable steps to correct the error and refund any fees deducted as a result, to the extent required by applicable law.
To the extent permitted by law, World Prime is not liable for any indirect or consequential loss, including loss of profit, loss of business or loss of reputation.
Nothing in these Terms of Use limits or excludes any rights or remedies you may have under the Australian Consumer Law or any other applicable law that cannot be excluded. If the Services are supplied to you as a consumer under the Australian Consumer Law and World Prime fails to comply with a consumer guarantee, World Prime’s liability is limited (to the extent permitted by law) to resupplying the Services or paying the cost of having the Services resupplied, unless the failure is a major failure within the meaning of that law.
Subject to the Australian Consumer Law and any other law that cannot be excluded, World Prime’s total liability arising out of or in connection with the Services is limited to the total amount of fees paid by you to World Prime in the twelve (12) months preceding the event giving rise to the claim.
TERMINATION AND SUSPENSION
You may close your World Prime Profile at any time by contacting World Prime’s customer support.
World Prime may suspend or terminate your World Prime Profile, without prior notice where reasonably necessary, if:
a. you materially breach these Terms of Use;
b. World Prime reasonably suspects fraud, unauthorised use or unlawful activity; or,
c. World Prime is required to do so by law, a regulator or a court, including to comply with AML/CTF Laws.
Where practicable and lawful, World Prime will provide notice of suspension or termination and instructions for returning any remaining balance.
FORCE MAJEURE
World Prime is not liable for any delay or failure to perform its obligations under these Terms of Use to the extent that the delay or failure is caused by events beyond its reasonable control, including failure of banking systems or payment networks, power or telecommunications outages, cyber incidents, acts of government or regulatory authorities, or natural disasters. World Prime will take reasonable steps to minimise the impact of any such event and resume performance as soon as reasonably practicable.
CHANGES TO THESE TERMS
World Prime may amend these Terms of Use from time to time.
Where changes are materially adverse to you, World Prime will provide reasonable prior notice.
If you do not agree with the amended Terms of Use, you may close your World Prime Profile before the changes take effect.
HOW WE COMMUNICATE
World Prime will generally communicate with you via email or electronic notifications sent to the contact details registered on your World Prime Profile.
You are responsible for ensuring that your contact details remain accurate and up to date.
COMPLAINTS
If you have a complaint, you may contact World Prime at [email protected].
World Prime will acknowledge and respond to complaints within a reasonable timeframe.
MISCELLANEOUS
These Terms of Use are governed by the laws of New South Wales, Australia, and the courts of New South Wales have non-exclusive jurisdiction.
If any provision of these Terms of Use is held to be invalid or unenforceable, that provision will be severed and the remaining provisions will continue in full force and effect.
No person other than you and World Prime has any right to enforce these Terms of Use.
DEFINITIONS
“Business Day” means a day other than a Saturday, Sunday or public holiday in New South Wales.
“Merchant” means a merchant approved by World Prime to receive funds through the Services.
“World Prime Profile” means the customer profile created by World Prime to enable access to the Services and to record remittance instructions and related transactions.
“Services” means the World Prime payment facilitation and remittance services.
