Ezidebit secures Financial Services Licence from ASIC
by Ezidebit - Australia's Favourite Direct Debit Solution (Busines Payment Solutions)
Australia's leading payment solutions company has been granted an Australian Financial Services Licence by the Australian Securities and Investments Commission.
Ezidebit CEO, Mr John de Stefani, said the granting of the licence was recognition that the firm's employees and its processes were of sufficiently high calibre to operate in the financial services business of non-cash payment products.
"The business underwent an extremely rigorous assessment with ASIC before the licence was granted and it was very satisfying to see our people and our processes met the high standards required to qualify for the Australian Financial Services Licence," Mr de Stefani said.
"Our clients and our end customers can be confident that the products and the solution they receive from Ezidebit are of the highest quality, and that our business is on a sound growth trajectory."
Ezidebit is Australia's leading provider of outsourced payment services. It offers multiple payment collection products that enable cash flow consistency for a broad range of industries.
Mr de Stefani said to qualify for the AFSL, Ezidebit had to meet ASIC requirements on a number of key criteria, including:
Company officers requiring at least 10 years’ experience in the financial service being offered
Appropriate training for employees who are offering advice to clients
Sufficient prudential controls be in place regarding money held in trust, as well as the business having satisfactory balance sheet and cash flows
IT systems in place to ensure business continuity, and Human Resources systems in place with succession plans for key personnel
An external complaints point of reference and a formal dispute resolution process in place
An annual audit process by an ASIC-approved auditor.
"This recognition from ASIC about the core quality of our business is a great milestone for the company as we continue to develop innovative payment products and solutions for the Australian and New Zealand markets," Mr de Stefani said.
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