Product Disclosure Statement

  • Home
  • Produc-Disclosure-Statement


Issued by PayAny1 Pty Ltd ABN 51 630 466 303

Australian financial services license no. 518990

(PayAny1, we, us, our)

Issue Date: 21/06/2021

Last Updated: 11/05/2022

PayAny1 (trading as ‘Cashwo’) is the issuer of a Digital Wallet whereby users can load value into the Digital Wallet to make payments or transactions either in-app or via proximity in-store payment (with merchant QR codes).

The Digital Wallet is linked to a digital account (which is not a deposit account) which can be accessed via the Cashwo App (Cashwo Digital Wallet).

As an AFSL holder, PayAny1 is required to hold client monies in a separate account.

1. Important Information

This PDS has been prepared by PayAny1. PayAny1 trading as ‘Cashwo’ is the issuer of the Digital Wallet Services.

This PDS contains important information about the Cashwo Digital Wallet Services and their associated benefits, risks and fees.

You should read this document carefully because it is designed to assist you in deciding whether the Cashwo Digital Wallet Services are appropriate for you.

The information contained in this PDS does not take into account your individual objectives, financial situation or needs. Nothing is intended to constitute investment, legal, tax, accounting or other professional advice and you should seek professional advice on whether the Cashwo Digital Wallet Services are appropriate for your particular circumstances.

The PDS has not been lodged with the Australian Securities and Investments Commission (ASIC) and does not need to be lodged with ASIC. ASIC takes no responsibility for the contents of the PDS.

The PDS may only be used by people who receive it in Australia. The information in this PDS does not constitute an offer in any country other than Australia. The distribution of this PDS in countries outside Australia is limited and may be restricted by law. People who come into possession of this PDS who are not in Australia should seek advice on any such restrictions that apply.

The information in this PDS is subject to change and is up to date at the date of this PDS. Where new information is materially adverse, we will issue a new PDS or supplementary PDS. However, where the information is not materially adverse, we will not issue a new PDS or supplementary PDS but you will be able to find the updated information on our website.

About the Cashwo Digital Wallet Service

The Cashwo Digital Wallet is a financial product that is regulated by the Corporations Act 2001 (Cth).

You can access the Cashwo Digital Wallet Services via the Cashwo App.

You can transfer funds to your Cashwo Digital Wallet by transfer from an account held with another ADI.

Once you have transferred funds to your Cashwo Digital Wallet and have a positive Wallet Balance you can make transfers to other users of the Cashwo Digital Wallet and use it to pay merchants via QR Codes and make other payment such as bill payments via BPAY.

You only access the value you have loaded to your Cashwo Digital Wallet. The Cashwo Digital Wallet is not a deposit account and not interest will be payable.

2. Significant Benefits of the Cashwo Digital Wallet Service

The significant benefits of the Cashwo Digital Wallet are:

  • it reduces the need to carry cash and is a convenient way to transfer funds to other Cashwo Digital Wallet users and to make payments at merchants who accept payments via QR Code or BPAY;
  • You can top up funds to the Digital Wallet as many times as you like (subject to daily limits);
  • you can only access the value that you have loaded which helps you control spending;
  • the Cashwo Digital Wallet can used on any device you have downloaded the Cashwo App;
  • if your mobile device is lost or stolen you can immediately freeze the Cashwo Digital Wallet by contacting Cashwo via email or telephone.
  • you can cancel the Cashwo Digital Wallet whenever you wish.
  • you can see detailed information about merchants you purchase goods from;
  • you can make payments from and receive payments to your Cashwo Digital Wallet in the same way you do in a bank account (even though the Cashwo Digital Wallet is not a deposit account);
3. Significant Risks of the Cashwo Digital Wallet

The significant risks of the Cashwo Digital Wallet are:

  • unauthorized transactions can happen if the mobile device you are using to access the Cashwo Digital Wallet, via the Cashwo app is lost or stolen, if your Mobile device passcode, or your Digital Wallet passcode is revealed to an unauthorized person, as a result of fraud, or if you breach the terms and conditions of the Cashwo Digital Wallet Services outlined in this PDS or the terms and conditions;
  • you might not be able to get your money back if unauthorized transactions or mistaken transactions occur. The more funds you transfer to your Cashwo Digital Wallet the more you could lose due to an unauthorized transaction;
  • due to equipment errors, malfunctions or equipment being used incorrectly, the same transaction may be processed more than once or transactions may not be processed at all;
  • If the network enabling the use of the Cashwo Digital Wallet is unavailable, you may not be able to perform transactions or get information using the Cashwo Digital Wallet;
  • merchants may, at their discretion, refuse to accept the Cashwo Digital Wallet as a method of payment. You should always check with the merchant that it will accept the Cashwo Digital Wallet before purchasing any goods or services:
  • you will not earn interest on any available balance that is stored on your Cashwo Digital Wallet; and
  • the Financial Claims Scheme (see does not apply in relation to your Cashwo Digital Wallet or your available balance. If PayAny1 (trading as ‘Cashwo’) fails, any available balance held in your Cashwo Digital Wallet will not be protected by the FCS, and you may lose all or part of your available balance. The risks associated with the Cashwo Digital Wallet may therefore be increased when you transfer large amounts of money into the Cashwo Digital Wallet.
4. Fees and Charges

The fees and charges that apply for the issue and use of the Cashwo Digital Wallet are as follows:

  • Online purchases $0.00
  • Transfer from wallet to wallet $0.00
  • In-Store purchase $0.00
  • Transfer from linked bank account $0.00
  • Receive merchant refund $0.00
TRANFERRING MONEY from your digital mobile wallet account
  • Electronic withdrawal 1.75%

The money is typically available within seconds but if the bank is not NPP participant then it will be done within 24hours or next business day in case of the weekend.

  • Daily Settlement 1.75%
5. Cooling Off Rights

There are no cooling-off rights attached to the Cashwo Digital Wallet. However, you may cancel the Cashwo Digital Wallet at any time.

6. Legal terms and conditions

The terms and conditions for use of the Cashwo Digital Wallet are set out in the Terms, which can be accessed at You should read and understand these terms before acquiring the Cashwo Digital Wallet as they primarily govern the legal relationship between you and us. You can request an electronic copy of the Terms by contacting us.

7. Applicable Laws

We are committed to complying with the Australian Privacy Principles established under the Privacy Act. Our Privacy Policy sets out detailed information about how, why and when personal information is collected, disclosed, used, stored and otherwise handled by us. Our Privacy Policy is available at You may request a copy of our Privacy Policy in hard copy.

Our Privacy Policy sets out:
  • the purposes for which we collect your personal information;
  • the consequences if you don’t provide your personal information to us;
  • the third parties to which we disclose your personal information;
  • how to access and seek correction of your personal information;
  • how to complain about a breach of our obligations in respect of your personal information and how we will deal with such a complaint; and
  • Whether your personal information is likely to be disclosed by us to overseas entities and in which countries these entities reside.

The AML-CTF Laws require us to collect and verify certain identification information about you. We will collect personal information from third parties to verify your identity for this purpose as well.

We may be required to disclose certain information about you to AUSTRAC. We may not be permitted to tell you when this occurs. We may also be prohibited from fulfilling our obligations to you, such as continuing to provide you with the PayAny1 Digital Wallet. We may also be required by the AML-CTF Laws to delay or suspend the PayAny1 Digital Services or your access to your PayAny1 Account.

Dispute Resolution

If you have a complaint relating to the Cashwo Digital Wallet services or the financial services we have provided to you, please follow the process specified under the “What should you do if you have a complaint?” of our FSG