FAQs
The questions we all have on our mind.
Is Oligo secure?
Oligo ensures secure payments through integration with top global acquirers. Our PCI-compliant terminals and PIN cryptography safeguard sensitive data, ensuring it remains protected.
Every transaction is conducted in a fully encrypted and secure environment, from sale to processing and beyond. We are committed to prioritising the safety of your business and customers.
Does Oligo hold a financial service lisence?
Oligo holds an Australian financial services licence (AFSL 555282) and is regulated by the Australian Securities and Investments Commission (ASIC). We are also registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC 100861669) and adhere to Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations.
What is Oligo Pricing?
Merchants incur a transaction fee, which includes interchange fees charged by the major card schemes, for each successful transaction only. Account opening and set up fees may apply and will vary depending on the provider. There are no lock-in contracts or commitments, and you can cancel at any time. For detailed pricing information, please contact our team.
How is exchange rate determined?
The foreign exchange rate systems for digital wallets like WeChat Pay and Alipay are active and highly competitive compared to standard bank retail rates.
For cross-border transactions, you don’t need to worry about currency exchange issues. Customers can pay in their own currency, while you, the merchant, can receive payments in AUD. By opening an account with Oligo, you can accept payments from customers worldwide.
What currencies do Oligo cover?
Our current digital wallets (WeChat Pay and Alipay) support major currencies including but not limited to HKD, USD, GBP, JPY, CAD, AUD, EUR, NZD, KRW, THB, SGD, RUB, DKK, SEK, CHF and NOK. Each transaction with foreign vendors is settled based on the price in local currency. For currencies not supported, transactions can be made in US dollar.
What are the advantages for Australian merchants in adopting digital wallets?
If your business already serves Chinese customers or plan to target this market soon, offering payment solutions that align with their preferences is essential for staying competitive. China continues to lead global markets in digital wallet adoption across shopping channels. According to research conducted by Worldpay, digital wallets represented an estimated 82% of e-commerce transaction value in 2023 (or nearly $1.8 trillion). In-person payments accounted for an estimated 66% of POS spend in 2023 (nearly $5.8 trillion). In addition, accepting these payment methods allow merchants to benefit from the marketing tools provided by both Alipay and WeChat Pay.
