PayLater Terms

Date: 7 April 2021

These are our PayLater Terms and Conditions, which form part of our General Terms and Conditions. You may also need to refer to our:

The following Terms apply between Vspry Money Pty Limited (ABN 88 638 831 857) of Level 19 Eagle St Brisbane QLD Australia (“Vspry Money”, “we” or “us”) and you who has made a health and wellness product or service purchase, and makes application to use the Vspry Money PayLater product. If you choose this product, you agree to these Terms.

What is PayLater?

PayLater allows you to pay for your health and wellness product and service purchases from a Vspry Merchant (“Merchant”) by dividing the cost into 2 or more equal payments (a “Schedule”), without any interest, fees or charges using the Vspry app.

Vspry Money is paid a fee by the Merchant to make the PayLater product commercially viable.

What do I need to know?

  • You must be 18 years old.
  • You must hold an Australian Medicare card.
  • You must must hold either a current Drivers Licence or a Passport.
  • You must have a Vspry Health Saver Account.
  • You must have an Australian bank account.
  • It is at our discretion whether you can use PayLater.
  • We may need to obtain an extract of your bank account transaction history.

How do I request a new Schedule?

If you have sufficient Limit within your PayLater account, you will be presented with an option to use PayLater when a Merchant issues you with a request for payment (“Bill”) within the Vspry app.

If you select PayLater, the app will present you with the option to pay either Fortnightly or Monthly, along with the frequency (collectively “Schedule Options”).

Each Schedule Option will display the amount due immediately, along with the dates and amounts of subsequent equal payments.

How do I PayLater in monthly instalments?

The first payment is taken from your nominated payment source account at the time the Merchant confirms your purchase.

The remaining equal payments will also be taken from your nominated payment source account in 30 day intervals after the first payment is taken.

We will tell you the due dates via electronic communication and they are viewable in the Vspry app.

How do I PayLater in fortnightly instalments?

The first payment is taken from your nominated payment source account at the time the Merchant confirms your purchase.

The remaining equal payments will also be taken from your nominated payment source account in 14 day intervals after the first payment is taken.

We will tell you the due dates via electronic communication and they are viewable in the Vspry app.

Where are the remaining payments drawn from?

You give us the authority to take the remaining equal payments from your nominated payment source account on the due dates without any further notice to you.

Can I pay out my PayLater account balance sooner than scheduled?

You can pay any remaining payments within a Schedule at any time and we will not charge you for doing so.

Can I change a Schedule once established?

Once you have established a Schedule, it cannot be varied unless you agree with the Merchant for a full or partial refund, or you apply to Vspry to vary a Schedule on the grounds of financial hardship.

What happens if the Merchant does not charge me for my entire purchase at the same time?

In the event the Merchant does not charge for your entire purchase at the same time, we will create a separate Schedule for each separate purchase you make.

Each of these Schedules will have its own due date depending on when the Merchant confirms that part of your purchase.

What happens if I cancel my purchase?

You will need to ask the Merchant to process a Vspry PayLater refund, which can either be in-full or a partial refund.

Upon the Merchant processing the refund, we will reduce your Schedule balance by the amount refunded.

If the refund amount is greater than the Schedule balance, the amount will be credited to your Vspry Health Saver account.

Any refund amounts credited to your purchase will reduce your Schedule balance, but do not count as payments.

You will need to continue to make your previously disclosed payments on the Schedule due dates until your Schedule balance is paid in full.

How do I maintain my account in good standing?

You will maintain an adequate balance in your nominated payment source account to allow for payments to be taken on the due dates.

It is important you ensure enough funds are available to complete your payment on the due date.

If you fail to make a payment you will be in default should payment remain outstanding, and you may be unable to use the PayLater service in the future.

We may continue to attempt to collect overdue and currently due payments, or invoice you separately for the unpaid total.

What happens if there is an insufficient balance in my nominated payment source account?

If we are not able to take a subsequent instalment from your nominated payment source account on the due date, we will provide you a courtesy five-day grace period so that you can add funds to your nominated payment source account or directly to your PayLater Schedule.

If your Schedule is not brought up to date during the grace period, we will roll over the unpaid amount to the next instalment.

If the Schedule remains overdue for a period longer than 60 days, we will issue you with a Letter of Demand following which you will have to pay all reasonable costs (“Debt Recovery Costs”) incurred by Vspry Money to collect the amount owing from you.

Do you charge late payment fees?

Vspry Money does not charge you late payment fees.

Vspry Money does reserve the right to charge you for Debt Recovery Costs.

What type of contract is this?

This is a continuing contract, and it is envisaged that you may have multiple Schedules within your PayLater account.

We will determine a PayLater limit (“Limit”) when we establish your first PayLater Schedule, and give you notice of it.

We will review your Limit from time to time and may increase your Limit and notify you of any change.

If you do not want us to increase your Limit, you can tell us not to.

We may also assess your eligibility for a Limit increase when you take steps towards requesting a new Schedule, that would otherwise take you over your current Limit.

We may also reduce your Limit but not so as to take it below the outstanding balance of all Schedules.

We will notify you of a reduction in your Limit before it takes effect.

How do you use my personal data?

Vspry Money uses your personal information in order to carry out our obligations in this agreement and for the additional purposes set out in our Privacy Policy which is available at vspry.com/privacy.

By using Vspry Money’s services, you confirm that you have read the Vspry Privacy Policy.

How do I provide you with feedback, raise a dispute or lodge a complaint?

Vspry Money has a policy for receiving feedback, managing disputes and resolving complaints, which is available at vspry.com/feedback.

Who is Vspry Money?

Vspry Money is incorporated in Australia as a proprietary company limited by shares, and registered with the Australian Securities and Investments Commission.

Vspry Money is part of the Vspry Group of companies and is a wholly owned subsidiary of Vspry International Limited ABN 59 631 026 027.

Products and services offered by the Vspry Group are provided by different companies.

The PayLater product is issued by Vspry Money.

How do I contact Vspry Money?

You can chat or message us on our website, or from within our app.

You can telephone us on 1800 934 185, or on +61731844111 if calling from overseas.

You can also contact the National Relay Service and ask for 1800 934 185.

© VSPRY 2019-2021 with all rights reserved. This website is operated by Vspry Australia Limited ABN 41 631 026 330, a public company limited by shares, incorporated in Australia, and whose ultimate holding company is Vspry International Limited ABN 59 631 026 027 ("VI"), a public company limited by shares, incorporated in Australia. VSPRY® is a registered trademark of VI.

 

Our mission is find new and better ways for you to take care of your health, ways that put you in control, and let you decide what’s best for you. We have a vision for a future that will be brighter, and healthier, because it belongs to you.

 

Products and services shown on this website are currently not available for sale until such time as various regulatory and licensing approvals have been granted. The information on this website is general in nature and doesn't consider your personal circumstances, so please take the time to make sure that a product or service is right for you. Products and services are issued by different companies. Saving/investment products are issued by Kinsmen Securities Limited ABN 50 100 139 820 AFSL 222650. Hospital cover products are issued by nib health funds limited ABN 83 000 124 381. PayLater products are issued by Vspry Money Pty Limited ABN 88 638 831 857. Merchant products are issued by Vspry Australia Limited ABN 41 631 026 330. Reward products are issued by Vspry Rewards Pty Limited ABN 88 638 677 595. Technology services are provided by Vspry Services Pty Limited ABN 73 646 565 611. Always read the relevant Product Disclosure Statement, our General Terms, and any product-specific Terms.

 

You can contact us by telephone on 1800 934 185 (or +61 7 3184 4111 if calling from outside of Australia). If you are deaf or have a hearing or speech impairment, you can contact the National Relay Service in Australia on 133 677 and ask for 1800 934 185, or use the SMS Text Relay Service SMS relay by sending a text message to +61 423 677 767. You can visit us at Level 19, 10 Eagle St Brisbane, Queensland, on business days between the hours of 8:30am and 5:00pm. You can send us mail to PO Box 311 Wynnum QLD 4178. You can use our Live Chat service by clicking on the VSPRY Chat icon on this website. You can email us at support@vspry.com. You can message us using Messenger at m.me/vspry.health, or using SMS or WhatsApp on +61 488 857 184.