Comply with Stored Value Facility rules (banking exception)
SVF providers must operate within APRA + Treasury rules on purchased payment facility regulation.
Who must comply
Providers of stored value / purchased payment facilities.
What triggers it
Operating SVF/PPF in Australia.
When due
Continuous; rules in transition.
Evidence required
APRA registration (where applicable); customer fund segregation; AML/CTF + privacy compliance.
Max penalty
APRA enforcement + Banking Act civil penalties
Summary
Currently regulated as Purchased Payment Facilities under the Banking Act 1959 (Cwlth). APRA regulates the larger SVF providers; smaller facilities operate under specific declarations. The PSP licensing reform is expected to replace the PPF framework.
Enforced by
Source legislation
Industries
Topics
Source: https://apra.gov.au/non-bank-financial-institutions. Rules Mate is not a law firm. Always verify against the live regulator source before acting.