Merchants & Practitioners
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Vspry connects health practitioners with Vspry consumers to enable practitioners to accept payments. This Agreement governs the relationship between a Vspry practitioner (Merchant) and Vspry.
Merchant Fees, Charges and Awards Guide
A fee of $110 (incl. GST) payable upon the establishment of a new Vspry Merchant Account. Merchants that sign-up prior to 31 Dec 2019 will be eligible for a full rebate.
Additional Outlet Fee
A fee of $33 (incl. GST) payable upon the establishment of an additional Vspry Merchant Account for a Merchant adding an additional Outlet or additional Merchant Account. Merchants that sign-up prior to 31 Dec 2019 will be eligible for a full rebate.
Minimum Monthly Merchant Fee
A fee of $33 (incl. GST) per month payable if cumulative Merchant Fees do not exceed $33 (incl. GST) in a calendar month, otherwise $0
1.55% (incl. GST) of each purchase made by a Vspry Consumer via a Vspry Wallet, Voints or other approved Vspry payment mechanism.
0.55% (incl. GST) of the settlement value to the Merchant's bank account.
A fee of $33 (incl. GST) per chargeback.
Excessive Chargeback Fee
A fee of $55 (incl. GST) per excessive chargeback (excessive chargeback merchants only). If you are to be charged
this fee you will be notified in writing one month prior to any fee being charged.
Elevated Risk Fee
In addition to the Merchant Fee, a fee of 1.55% (incl. GST) of each purchase made by a Vspry Consumer via a Vspry Wallet, Voints or other approved Vspry payment mechanism, applicable to merchants that are deemed by Vspry to present elevated risks for Vspry. If you are to be charged this fee you will be notified in writing one month prior to any fee being charged.
Deferred Establishment Fee
A fee of $110 (incl. GST) if a Merchant Facility is closed within 180 days of establishment.
Overnight interest rate of 12% p.a. calculated daily on monies owing to Vspry as a result of chargeback's that cannot otherwise be collected by Vspry prior to settling to the Merchant's bank account.
An hourly charge of $220 (incl. GST) for the investigation as well as the drafting of the associated reports performed by a certified data security firm approved by Vspry that is engaged to investigate a loss or damage incurred by Vspry as a result of a compromised Vspry Merchant Account. An Investigation Charge will only be applied if the Merchant is deemed by Vspry to not have take reasonable steps to protect their account from unauthorised access.
Award Conversion Rate
AUD$1 equals 100 Voints
The minimum award of Voints by a Merchant to a Vspry Consumer will equate to the transaction value multiplied by 5. For example, if the cost of a service to a Vspry Consumer was $500 (incl. GST), the minimum award would be 2,500 Voints.
The minimum award of Voints by a Merchant to a Vspry Consumer will equate to the transaction value multiplied by 10. For example, if the cost of a service to a Vspry Consumer was $500 (incl. GST), the maximum award would be 5,000 Voints.
Voints Purchase Fee
A fee equating to 2.00% (incl. GST) of the value of Voints purchased for an award to a Vspry Consumer. This fee will be waived for merchants that are NOT excessive chargeback merchants.
Voints Sale Fee
A fee equating to 2.00% (incl. GST) of the value of Voints sold to Vspry in return for a conversion to cash in their Merchant Wallet.
GST Treatment of Voints
When a Vspry Consumer pays consideration for products or services from a Vspry Merchant, and they receive an allocation of Voints, the Consumers payment is consideration for the supply of the products or services they acquire, and therefore there is no requirement for an apportionment of the amount paid by the consumer between the goods or services and the points. Vspry via the Merchant is providing the Consumer a supply of 'rights', being the rights that consumers obtain on receiving points. Supplies via the Merchant are input taxed to the extent that the Voints will ultimately be redeemed for supplies which are input taxed. The redemption of Voints by a Consumer is not consideration for the supply of a reward to the Consumer. Accordingly, the supply of the reward can only be a taxable supply by Vspry, or the Vspry Merchant to the Consumer where some consideration is provided, for example under a Voints plus Wallet scenario. When a Vspry Merchant provides products or services to the Consumer upon redemption of points (or upon redemption of points plus additional consideration) under a contractual arrangement with Vspry, the Merchant also makes a supply to Vspry. A payment from Vspry to the Merchant in return, is consideration for this supply. Whether the supply is taxable, GST-free or input taxed needs to be determined accordingly. Ordinarily, Vspry makes a creditable acquisition from the Merchant and is entitled to an input tax credit.
Merchants are encouraged to get their own tax advice as it relates to GST treatment of Merchant Awards of Voints.