Terms of Service

1. Introduction

Welcome to PayDay. PayDay is an earned wage access service operated by Jydeon Pty Ltd (ACN 696 671 771, ABN 52 696 671 771). By creating an account or using PayDay, you agree to these Terms of Service.

PayDay allows eligible users to access a portion of their earned wages before their regular payday. Please read these terms carefully before using the service.

2. Eligibility

To use PayDay, you must:

• Be at least 18 years of age
• Be an Australian resident
• Receive a regular salary income deposited into an Australian bank account
• Complete identity verification (KYC) as required
• Connect a bank account via Open Banking

We reserve the right to refuse or revoke access if you do not meet these requirements or if we cannot verify your identity or income.

3. Account Registration and Security

You must provide accurate and complete information when creating your account. You are responsible for maintaining the confidentiality of your login credentials and any two-factor authentication (2FA) methods linked to your account.

You must notify us immediately at gidon@jydeon.com if you suspect unauthorised access to your account. We are not liable for losses arising from unauthorised use of your credentials.

4. Identity Verification

Before requesting an advance, you must complete identity verification. This may include providing government-issued identification documents. We use this information solely to verify your identity and comply with applicable anti-money laundering laws. We will not request advances or take any action on your behalf without your explicit consent.

5. How Advances Work

PayDay provides earned wage access -- not credit. Here is how it works:

1. Request: You request an advance through the PayDay app. New users may request up to $100. Trusted users with a positive repayment history may request up to $500.
2. Approval: We assess your request based on your salary information and repayment history. Approval is not guaranteed.
3. Disbursement: If approved, funds are transferred to your linked bank account.
4. Repayment: The advance amount plus the applicable fee is automatically collected via direct debit when your next salary payment arrives.

6. Fees

PayDay charges a flat, transparent fee per advance. There are no hidden fees, no interest, and no compounding charges.

The fee is disclosed before you confirm each advance. You will never be charged more than the stated fee. There are no late fees, no default fees, and no penalty interest.

7. This Is Not a Credit Product

PayDay operates under the short-term credit exemption set out in Schedule 1, section 6(1) of the National Consumer Credit Protection Act 2009 (National Credit Code). This means:

• The term of each advance is less than 62 days
• The total fee charged does not exceed 5% of the advance amount
• No interest is charged -- only a flat fee
• No amounts compound over time

PayDay is not a loan, line of credit, or credit facility. It is an earned wage access service.

8. Repayment Terms

Repayment of the advance amount plus the applicable fee is collected automatically via direct debit when your salary is deposited into your linked bank account.

If the initial direct debit fails:

• We will retry up to 5 times over a 14-day period
• If repayment is still unsuccessful after 21 days, the outstanding balance is written off
• Your account will be locked until any outstanding balance is cleared

We do not charge late fees or default fees. We do not use collections agencies. We do not report unpaid advances to credit reporting agencies. The only consequence of non-repayment is that your PayDay account will be locked until the balance is resolved.

9. Open Banking and Data Access

To verify your income and determine advance eligibility, PayDay accesses your bank transaction data through the Consumer Data Right (CDR) framework via our accredited data intermediary, Basiq.

When you connect your bank account, you consent to PayDay accessing:

• Account balance information
• Transaction history (to identify salary deposits)

You may revoke your Open Banking consent at any time through the PayDay app or by contacting us. Revoking consent may affect your ability to request future advances. Your data is handled in accordance with our Privacy Policy.

10. Direct Debit Authorisation

By requesting an advance, you authorise Jydeon Pty Ltd to debit the advance amount plus the applicable fee from your linked bank account when your salary is deposited.

This direct debit arrangement is conducted in compliance with the ePayments Code. You have the right to:

• Request changes to the debit amount or timing by contacting us before the scheduled debit date
• Cancel or suspend the direct debit authorisation at any time by contacting us
• Dispute any debit that was not authorised or was processed incorrectly

If you cancel the direct debit authorisation while an advance is outstanding, you remain responsible for repaying the balance by alternative means.

11. Cooling-Off and Responsible Use

PayDay is designed for occasional use when you need early access to wages you have already earned. We actively discourage chronic or habitual use of wage advances.

If we identify patterns of frequent or increasing usage, we may:

• Display prompts encouraging you to consider whether an advance is necessary
• Suggest free financial counselling services (such as the National Debt Helpline: 1800 007 007)
• Temporarily limit the frequency or amount of advances available to you

You may cancel a pending advance request before funds are disbursed at no cost.

12. Account Suspension and Termination

We may suspend or terminate your account if:

• You provide false or misleading information
• We suspect fraud or unauthorised activity on your account
• You repeatedly fail to repay advances
• You no longer meet the eligibility requirements
• You breach these Terms of Service

You may close your account at any time by contacting us, provided any outstanding balance is repaid.

13. Limitation of Liability

To the maximum extent permitted by law, Jydeon Pty Ltd is not liable for:

• Any indirect, incidental, or consequential loss arising from your use of PayDay
• Delays in fund disbursement or collection caused by banking systems, third-party payment processors, or events beyond our reasonable control
• Loss arising from unauthorised access to your account where you have failed to protect your credentials
• Service interruptions due to scheduled or emergency maintenance

Nothing in these terms excludes or limits liability that cannot be excluded under Australian Consumer Law.

14. Governing Law

These Terms of Service are governed by the laws of New South Wales, Australia. You submit to the non-exclusive jurisdiction of the courts of New South Wales for any disputes arising under these terms.

15. Changes to These Terms

We may update these terms from time to time. If we make material changes, we will notify you via the app or by email before the changes take effect. Your continued use of PayDay after changes are published constitutes acceptance of the updated terms. We encourage you to review this page periodically.

16. Contact

If you have questions about these terms or need support, contact us: