AFSL for non-cash payment products in Australia

About This Company

Australian financial services licensing operates on a domestic basis and does not passport into foreign jurisdictions. Holding an Australian financial services licence (AFSL) of this classification confers statutory authorisation to deal in and advise on deposit and payment products, specifically non-cash payment facilities. Regulatory supervision falls under the Australian Securities and Investments Commission (ASIC), established in 1998 with its seat in Sydney. ASIC acts as an integrated regulator across corporate affairs, financial markets, credit providers and financial services. The statutory body works to maintain and improve the overall performance of the financial system. Licence verification requires consulting the ASIC Professional Registers. Users can search those records by entity name, ABN/ACN or licence number to confirm active status, attached conditions and registered authorised representatives. Corporate registration details are maintained separately on ASIC Connect. Ownership transitions impose strict compliance thresholds. Under Corporations Act s.910B, a change of control occurs whenever an entity or person gains or ceases capacity to cast, or control casting of, more than 50% of votes at a general meeting, or holds more than half the issued share capital. Notification must be lodged through the Regulatory Portal no later than 30 business days after the change occurs under s.912DA.