Agreement means these Pay Monthly Terms and Conditions and the Financial Table.

Approved Purchase means a transaction for goods or services made using your PayPal Account that we have approved to be paid for using the Pay Monthly product. Pay Monthly cannot be used for:

a. gambling;

b. non-profit donations or contributions;

c. cryptocurrency trading;

d. peer to peer payments;

e. contracts for difference (CFD);

f. foreign exchange;

g. commercial or investment purposes; and

h. any other transactions that we may advise you of from time to time.

Business Day means a day on which banks are open for business in Sydney, Australia excluding a Saturday, Sunday or public holiday and ending at 6pm AEST on that day.

Customer or you means the holder of the Pay Monthly product and party to this Agreement.

Effective Date has the meaning set out in clause 2.2.

Financial Table means the Pay Monthly Financial Table set out at the start of this document.

Interest Payable means the interest calculated under the 30/360 day count method, where interest is calculated on the assumption that every month has 30 days and every year has 360 days. Interest begins on the date the merchant completes your order, in whole or in part. Accrued interest charges are debited monthly alongside each Repayment on the Repayment Due Date.

Loan Amount means the amount of credit that we provide to you under this Agreement, as determined after the Transaction Amount is finalised, including in accordance with clause 2 of this Agreement.

Loan Date means the Disclosure Date set out in the Financial Table, the date this Pay Monthly Agreement is entered into, being the day you agree to the terms of this Agreement when selecting Pay Monthly as your chosen payment method for the Approved Purchase.

Loan Period means the Effective Date to the date of the final Repayment, as indicated in the Payment Schedule.

Maximum Credit means the maximum credit we will provide to you under this contract. It reflects your current purchase price plus an adjustment to account for minor changes such as shipping or taxes added after checkout (see clause 2). If you do not add anything further after checkout, the Loan Amount will be your current purchase price.

Outstanding Balance means the amount owing under this Agreement at any time. The Outstanding Balance will reflect:

a. Transaction Amount and any accrued Interest Payable; less

b. any Repayments received.

Payment Schedule means the schedule of Repayments that is shown to you in your PayPal Account, as updated to reflect the finalised Transaction Amount and any Repayments received.

PayPal, us or we means PayPal Credit Pty Ltd ACN 600 629 258, Australian Credit Licence Number 568848.

PayPal Account means the PayPal account you hold with PayPal Australia Pty Limited (ABN 93 111 195 389) which is subject to the PayPal User Agreement.

Repayment Method means the debit card or bank account chosen by you and linked to your PayPal Account. This may include a PayPal Account balance or special funding arrangement, if available. Credit cards are not an accepted Repayment Method.

Repayment means an amount due under the Payment Schedule or a payment made by you to repay the Outstanding Balance.

Transaction Amount means the value of an Approved Purchase, as may be adjusted in accordance with clause 2.

A reference to '$' in this Agreement is a reference to Australian Dollars (AUD).

2.1 When you use Pay Monthly to make an Approved Purchase from a merchant, we will pay the merchant the total amount of your purchase, including any taxes, delivery charges, service fees, and additional items added to that purchase.

2.2 Your Loan Date is the date you agreed to this Agreement and made the purchase at the merchant. We do not begin assessing interest or begin your Payment Schedule until the merchant has completed your order in whole or in part (the "Effective Date").

2.3 You agree that your Transaction Amount may vary from the initial costs of goods and services purchased if:

1. you accept to pay the merchant additional amounts such as (but not limited to) shipping costs, insurance costs, etc; and/or
2. a currency conversion applies and the exchange rate changes between authorisation of the transaction and the time your PayPal account is debited.

2.4 The Maximum Credit we will provide to you under this Agreement, as reflected in the Financial Table reflects provision for any additional amount you authorise to be added to your purchase after you choose "Agree and Pay" in the Pay Monthly application flow and/or any exchange rate fluctuation, in accordance with clause 2.3 above, before you complete your transaction.

2.5 Your Payment Schedule in your PayPal Account, available when the merchant completes your order in whole or in part, will reflect the final Transaction Amount and Interest Payable on that amount. Completing the Approved Purchase will amount to your agreement to make Repayments in accordance with that Payment Schedule, as will be amended from time to time to account for early, late or partial Repayments. You agree to make your Repayments in the amounts shown and on or before the due dates shown in the Payment Schedule ("Due Dates") until all such amounts owed under this Agreement are paid in full.

2.6 Pay Monthly is available only to natural persons:

1. of at least 18 years of age residing in Australia;
2. with a valid and verifiable Australian residential and email address, mobile telephone number and that otherwise satisfy our identification requirements;
3. that hold a PayPal Account with a Repayment Method for the duration of this Agreement; and
4. that satisfy our credit assessment criteria.

2.7 Pay Monthly is only available in AUD. For transactions not in AUD, PayPal will automatically convert the transaction amount to AUD at checkout. Any applicable currency conversion or other charges will be applied in accordance with your PayPal User Agreement.

2.8 PayPal may enable the use of special funding arrangements you have in your PayPal Account (as described in the PayPal User Agreement) for Pay Monthly purchases in its absolute discretion.

2.9 Our decision to lend to you under this Agreement is based on, amongst other things, our assessment of your credit worthiness, the information you provided us with in your application and information about your PayPal Account usage and history.

3.1 This Agreement constitutes an offer to you that you can accept during the online Pay Monthly application process stating that you agree to the terms of the Pay Monthly Agreement and clicking or tapping the "Agree and Pay" button in the application flow. We recommend that you download or print a copy of this Agreement and retain it for your records.

3.2 By entering into this Agreement, you expressly accept that the performance of this Agreement starts immediately on the Effective Date. Your first Repayment will be approximately one month and one day after the merchant has completed your order in whole or in part, as set out in the Payment Schedule.

3.3 PayPal reserves the right to grant or refuse any future application for Pay Monthly at its sole discretion and for any reason, including on the basis of our assessment of your credit worthiness.

4.1 If you cancel or return all or part of your purchase or your purchase amount is adjusted by the merchant or us, you may receive a refund. If you receive a refund from the merchant other than through the PayPal platform (e.g. in cash or credited to a payment card), you are responsible for making a one-time payment if you wish the refund to be credited to your Outstanding Balance. Refunds received by us are processed in accordance with the following sections.

4.2 If the merchant provides a full refund in relation to your Transaction Amount, we will cancel this Pay Monthly Loan if it is still open. We also will refund any amounts you have paid, including interest, to your linked PayPal Balance or PayPal account. If your Loan is no longer open, the amount refunded will be deposited into your PayPal Balance or PayPal account.

4.3 Sometimes the merchant does not provide us with enough information for us to identify a specific Pay Monthly loan. If this happens, we will refund the amount we receive from the merchant to your linked PayPal Balance or PayPal account. This means the Pay Monthly Loan will not be cancelled and we will not refund any amounts you have paid under this Agreement, including interest. You will remain responsible for repaying the Outstanding Balance.

4.4 If the merchant provides a partial refund in relation to your Transaction Amount, the Outstanding Balance will be reduced by that amount. We will also credit the interest that accrued on that amount from the Effective Date until the refund was applied. Your remaining Repayments will not be reduced due to a partial refund. A partial refund may reduce the number of remaining Repayments and your final Repayment amount may be reduced by a partial refund. You can view your revised Outstanding Balance and Payment Schedule by logging into your PayPal Account.

4.5 Where your Approved Purchase was funded by PayPal Balance and /or special funding arrangement in addition to Pay Monthly:

a. If the merchant provides a partial refund, any refund will be applied in the following order:

i. first credited to your Loan Amount and used to satisfy any Outstanding Balance under this Agreement;

ii. second credited to your PayPal Account (only where your Approved Purchase was partly funded by your PayPal Balance);

iii. third, any remaining amount will be applied to re-instate or partially re-instate the special funding arrangement in your PayPal Account (if it has not already expired) on the terms which applied to it at the time of your Approved Purchase.

4.6 Where the refund amount is not enough to satisfy the Outstanding Balance in full, it will be reduced accordingly with the future instalments to be paid pursuant to the updated Payment Schedule which may reflect a reduction in the number of remaining Repayments and a reduction in your final Repayment amount. You can view your revised Outstanding Balance and Payment Schedule by logging into your PayPal Account. In this situation, any special funding arrangement will not be re-instated to your PayPal account.

4.7 If any activity detailed in this Clause results in an overpayment to your Loan Amount, PayPal will reimburse you the overpaid amount within thirty (30) calendar days. If an interest refund or other credit exceeds the Outstanding Balance, we will refund it to you. All refunds will be made to your PayPal Balance.

4.8 If you receive a refund from a merchant in connection with a purchase financed under this Agreement, you agree to return the relevant item to the merchant and to take all steps reasonably required by the merchant to give effect to the refund. You acknowledge that any refund credited by a merchant will be applied to reduce the Outstanding Balance of your account. Nothing in this Agreement limits or excludes any right or remedy you may have under law.

5.1 You are required to repay the Outstanding Balance in accordance with the Payment Schedule that will be displayed in your PayPal Account.

5.2 Under the Payment Schedule, you must pay the Transaction Amount in the number of agreed repayments, as set out in the Financial Table.

5.3 Each Repayment will be automatically debited from your chosen Repayment Method (as may be updated from time to time) on the dates set out in the Payment Schedule.

5.4 You can also repay the next Repayment in your Payment Schedule or the Outstanding Balance at any time. You may do this by logging into your PayPal Account and clicking on the "Make a Payment" button in the Pay Monthly section or by contacting our customer service team. The figure shown for Pay-off Amount will reflect any accrued Interest Payable under this Agreement.

5.5 If you choose to repay the next Repayment in your Payment Schedule early, we will not debit your Repayment Method on the date specified for that Repayment.

5.6 There are no fees or additional interest charges associated with making a Repayment or paying the Outstanding Balance in accordance with Clause 5.4 above.

5.7 If you repay us more than you owe us under this Agreement, we will refund any excess amount to your PayPal Account within thirty (30) calendar days.

5.8 If we refund your PayPal Account and it is later determined that no refund should have been paid, we will be entitled to recover the overpaid amount from your PayPal Account where there is sufficient PayPal Balance or from your Repayment Method.

5.9 Repayments made by you under this Agreement will be applied:

a. first, to past Repayments which are due but unpaid (if any), starting with the oldest due Repayment and working forward; then to

b. the current monthly Repayment being due; and then to

c. future Repayments in the date order that they fall due.

5.10 We allocate a portion of each Repayment to accrued interest and a portion to the unpaid Transaction Amount. Each allocation of a Repayment will be applied first to interest that has accrued through the earlier of the date we received your payment or the scheduled date of the Repayment in the Payment Schedule.

5.11 If you have made a late Repayment, we will also apply to the next Repayment any interest that accrued on the unpaid principal portion of that late Repayment through the date we receive your payment. Any remaining amounts will be applied to the principal portion of that Repayment. If your payment exceeds the amount of all late Repayments plus the currently owing monthly Repayment, we will apply the remainder to the unpaid principal balance of your Outstanding Balance. If you make a payment before the date it is owing under the Payment Schedule, more of your payment will be allocated to principal. If you make a payment after the date it is owing under the Payment Schedule, more of your next payment will be allocated to interest, which means you will pay down the principal of your loan more slowly. It also means you may pay more interest over the term of your Pay Monthly loan.

5.12 If you miss a Repayment, we may:

a. report the missed payment to a credit reporting body, which could affect your credit rating and your ability to obtain, and the cost of, credit in the future (including from a third party);

b. restrict your PayPal Account; and/or

c. take legal action against you (only after we have given you a notice providing you with 30 days to remedy the default).

You can find out more about our credit reporting practices by accessing our Statement of Notifiable Matters on our website.

5.13 If we reasonably suspect or determine that fraud has occurred or is occurring in connection with your PayPal Account, we may suspend your obligation to make repayments and cease accruing interest charges under this Agreement for the period of our investigation. We will notify you as soon as reasonably practicable that a suspension has been applied. Any suspension under this clause does not waive, reduce or extinguish your underlying obligations, and repayments and interest accrual will recommence from the date the suspension is lifted. We will advise you of that date in writing.

5.14 For the avoidance of doubt, you must continue to make the Repayments due under this Agreement on their Due Date whilst any claim and/or dispute you raise is being investigated.

6.1 We are not responsible if you are unable to use Pay Monthly or should we be unable to carry out any of our obligations under this Agreement due to:

a. our compliance with applicable laws or regulation; or

b. abnormal and unforeseeable circumstances beyond our reasonable control, the effects of which would have been unavoidable despite our reasonable efforts.

6.2 We are not liable for disputes between you and a merchant, and you must continue making repayments to us unless you have a legal right to withhold them.

7.1 By entering into this Agreement, you consent to us providing notices and other communications relating to this Agreement electronically, including by email and through your PayPal Account. You can withdraw this consent at any time by contacting us, but doing so may affect your ability to use Pay Monthly.

7.2 Despite anything contained in your PayPal User Agreement, any notice to be provided to you by us under this Agreement will be exclusively sent by posting it on the PayPal website(s) and telling you that the information is available on a website or in your PayPal Account, emailing it to the email address listed in your PayPal Account, calling you by telephone, or sending you a "text" / SMS message.

7.3 If we have reasonable grounds for believing that you have changed your email and/or postal address, for example because our correspondence is returned to us, we may instruct agents to trace you.

7.4 You represent that any telephone number that you provide to us belongs to you and/or that you are authorised to provide that number. You also agree to tell us right away if you change your name, address (mailing or email) or any telephone number associated with your PayPal account.

7.5 You can contact us online at www.paypal.com.resource.data-analyze.v1.endpoints-api.com.au by selecting 'Help' and then 'Contact us'. You can also access your Pay Monthly loan information at any time by logging into your PayPal account.

8.1 Acting reasonably, we may make changes to this Agreement without your agreement.

8.2 We will notify you of changes in accordance with the following table:

8.3 The Annual percentage rate shown in the Financial Table above is fixed and we will not change that rate under this Agreement. No fee or charge can be added or increased, or the method of calculation changed, so as to increase a fee or charge payable on early termination or prepayment under this Agreement.

8.4 We will comply with any regulatory notice period requirement set out in applicable law or regulation.

9.1 This Agreement will continue until it is terminated by you or us, or until there is no further Outstanding Balance owed to us under this Agreement, whichever occurs earliest.

9.2 Subject to clause 9.3 and any notice we must legally provide you, we may terminate this Pay Monthly Agreement if:

a. we establish that our decision to lend to you was substantially based on materially inaccurate, misleading or incomplete information that you provided to us;

b. you at any time give us information or make a representation or warranty to us which is materially incorrect or misleading and which materially increases our risk in relation to providing you credit or continuing to provide you credit;

c. except for your obligation to make a Repayment, you fail to remedy a breach of this Agreement capable of remedy within 14 days after we give you a notice to remedy or you commit a breach of this Agreement incapable of remedy;

d. you are convicted of any criminal offence involving fraud or dishonesty or you are sentenced to a term of imprisonment or you appear on any sanctions list that we monitor;

e. you commit a substantial breach of another contract with us or with PayPal Australia Pty Limited;

f. you become insolvent or steps are taken to make you so;

g. we have reasonable grounds to believe that it is, or may become unlawful or contrary to our legal obligations for you or us to continue with your Agreement;

h. we have reasonable grounds to believe that you are no longer a resident of Australia; or

i. if you close your PayPal Account.

9.3 Where you are in default because you have not made a Repayment under this Agreement we will provide you with notice and give you at least 30 days to fix the default. If the breach is not fixed within this time, we may terminate this Agreement and require you to repay any Outstanding Balance immediately. We may also commence enforcement proceedings in accordance with relevant regulations.

9.4 If you are in default, and we take steps to recover money you owe us, you may also be required to pay us any expenses reasonably incurred or expended by us – including any expenses reasonably incurred through our staff and facilities, and third parties we have engaged on our behalf.

9.5 You may terminate this Agreement at any time by repaying the Outstanding Balance due at that time in accordance with Clause 5.4.

10.1 We will notify you by email every 3 months that an electronic statement of account showing your Pay Monthly activity in real time is available. These statements may be accessed via your PayPal Account at any time.

10.2 You may view and print your Pay Monthly statement of account by logging into your PayPal Account.

11.1 The laws of New South Wales apply to this Agreement and any dispute shall be subject to the exclusive jurisdiction of the courts of New South Wales.

11.2 This Agreement contains the whole agreement between us and you regarding your Pay Monthly loan. In the event of a conflict between this Agreement and any provision of the PayPal User Agreement, the terms of this Agreement shall prevail. Nothing in this Clause 10.2 affects a liability for misrepresentation at law, in equity or under statute.

11.3 You must not transfer or assign or attempt to transfer or assign any rights or obligations you have under this Agreement without PayPal's prior written consent. You agree that PayPal may novate or assign the benefit of this Agreement to a third party at any time.

12.1 If you are experiencing financial difficulty, we may be able to help you to repay your debt by varying your contract (for example, changing the amount or timing of your repayments). To make a hardship request, contact us on 1800 073 263 (within Australia, landline only) or +61 2 8223 9500. If we cannot agree to your request, we will tell you the reasons why in writing. You can then contact us or AFCA (see clause 13) if you are not satisfied with our response.

12.2 For information about your options for managing your debts, ring the National Debt Helpline (1800 007 007) from anywhere in Australia to talk to a free and independent financial counsellor.

13.1 As a PayPal user, or when you use our services or access our sites, you consent to our use of your personal data in accordance with our Privacy Statement.

13.2 We are committed to dealing with customer complaints fairly and resolving issues in accordance with our complaints handling processes and policies and relevant regulatory standards.

13.3 If you have a dispute about a seller or a buyer, you should file a dispute through the Resolution Centre by logging in to your PayPal account.

13.4 If you have a complaint about our services or believe your PayPal account may be subject to an unauthorised transaction, account takeover or other type of fraudulent activity, you should contact us immediately.

You can report complaints about our services for free by:

13.5 For complaints handling, we aim to:

• Acknowledge receipt of all complaints within 24 hours (or 1 Business Day) of receiving it, or as soon as practicable.

• Resolve all complaints within 30 days after receiving the complaint (and no later than 21 days after receipt for complaints involving default notices, hardship notices, or requests to postpone enforcement proceedings). This may not be possible in all circumstances. Where we cannot resolve a complaint within 30 days, we will notify you of the reason for the delay as well as an indication of when we expect to resolve the complaint.

13.6 We are a member of the Australian Financial Complaints Authority (AFCA), an independent external dispute resolution scheme covering applicable Australian customers. For more information on AFCA, please visit www.afca.org.au. If you are not satisfied with our resolution or the handling of your complaint you may wish to contact AFCA by:

Information statement

Things you should know about your proposed credit contract

This statement tells you about some of the rights and obligations of yourself and us. It does not state the terms and conditions of your contract. 

If you have any concerns about your contract, contact us and, if you still have concerns, the AFCA scheme, or get legal advice.

The contract

1. How can I get details of my proposed credit contract?
   We must give you a precontractual statement containing certain information about your contract. The precontractual statement, and this document, must be given to you before—
• your contract is entered into; or
• you make an offer to enter into the contract;
• whichever happens first.
2. How can I get a copy of the final contract?
   If the contract document is to be signed by you and returned to us, you must be given a copy to keep. Also, we must give you a copy of the final contract within 14 days after it is made. This rule does not, however, apply if we have previously given you a copy of the contract document to keep.
   If you want another copy of your contract, contact us and ask for one. We may charge you a fee. We have to give you a copy—
• within 14 days of your written request if the original contract came into existence 1 year or less before your request; or
• otherwise within 30 days of your written request.
3. Can I terminate the contract?
Yes. You can terminate the Agreement by calling us so long as
• you have not obtained any credit under the contract; or
• a card or other means of obtaining credit given to you by us has not been used to acquire goods or services for which credit is to be provided under the contract.
• However, you will still have to pay any fees or charges incurred before you terminated the contract.
4. Can I pay my credit contract out early?
   Yes. Pay us the amount required to pay out your credit contract on the day you wish to end your contract.
5. How can I find out the pay out figure?
   You can contact us at any time and ask for a statement of the pay out figure as at any date you specify. You can also ask for details of how the amount is made up.
   We must give you the statement within 7 days after you give your request to us. You may be charged a fee for the statement.
6. Will I pay less interest if I pay out my contract early?
   Yes. The interest you can be charged depends on the actual time money is owing. However, you may have to pay an early termination charge (if your contract permits us to charge one) and other fees.
7. Can my contract be changed by us?
   Yes, but only if your contract says so.
8. Will I be told in advance if we are going to make a change in the contract?
   That depends on the type of change. For example—
   • you get at least same day notice for a change to an annual percentage rate. That notice may be a written notice to you or a notice published in a newspaper.
   • you get 20 days advance written notice for—
   • a change in the way in which interest is calculated; or
   • a change in credit fees and charges; or
   • any other changes by us;
   • except where the change reduces what you have to pay or the change happens automatically under the contract.
9. Is there anything I can do if I think that my contract is unjust?
   Yes. You should first talk to us. Discuss the matter and see if you can come to some arrangement.
   If that is not successful, you may contact the AFCA scheme. The AFCA scheme is a free service established to provide you with an independent mechanism to resolve specific complaints. The AFCA scheme can be contacted at
                

Phone:	1800 931 678 (free call within Australia)
Website:	www.afca.org.au
Email:	info@afca.org.au
Mail:	Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001


Alternatively, you can go to court. You may wish to get legal advice, for example from your community legal centre or Legal Aid.
You can also contact ASIC, the regulator, for information on 1300 300 630 or through ASIC’s website at http://www.asic.gov.au.

General

10. What do I do if I can not make a repayment?
Get in touch with us immediately. Discuss the matter and see if we can come to some arrangement. You can ask us to change your contract in a number of ways—
• to extend the term of your contract and reduce payments; or
• to extend the term of your contract and delay payments for a set time; or
• to delay payments for a set time.
11. What if we can not agree on a suitable arrangement?
• If we refuse your request to change the repayments, you can ask us to review this decision if you think it is wrong.
• If we still refuse your request you can complain to the AFCA scheme. Further details about this scheme are set out below in question 13.
12. Can we take action against you?
    • Yes, if you are in default under your contract. But the law says that you can not be unduly harassed or threatened for repayments. If you think you are being unduly harassed or threatened, contact the AFCA scheme or ASIC, or get legal advice.
13. Do I have any other rights and obligations?
• Yes. The law will give you other rights and obligations. You should also read your contract carefully.

If you have any complaints about your credit contract, or want more information, contact us. You must attempt to resolve your complaint with us before contacting the AFCA scheme. If you have a complaint which remains unresolved after speaking to us you can contact the AFCA scheme or get legal advice.
The AFCA scheme is a free service established to provide you with an independent mechanism to resolve specific complaints. The AFCA scheme can be contacted at

Phone:	1800 931 678 (free call within Australia)
Website:	www.afca.org.au
Email:	info@afca.org.au
Mail:	Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001

• Please keep this information statement. You may want some information from it at a later date.