POLi Payment Services - Participation Criteria
Prohibited businesses
POLi Payment Services are not available for the following types of businesses:
- Unlicensed* gaming services (including online casinos, gaming and sports betting services)
- Affiliate marketing schemes
- Sale of synthetic drugs and pharmaceuticals
- Adult services
- Mobile or truck traders providing credit or deferred payment terms
- Junket tour operators**
- Binary option, CFD and Forex trading businesses*
- Sale of firearms or ammunition
- Crypto-currency issuers
- Gangs or businesses operated by gangs
- Unregistered crypto currency exchanges*
- Pyramid sales schemes
* New Zealand licensed/registered businesses are not prohibited
**Businesses that arrange foreign gamblers to travel to New Zealand for gaming at NZ casinos
Prohibited goods and services
POLi Payment Services may not be used for the sale of the following goods or services:
- Cash equivalent cards (physical or digital)
- Recreational drug paraphernalia
- Issues of fractional ownership of physical or digital assets
- Counterfeit goods
- Issues of securities (including share and debt issuances)
High risk goods and services
Minimum requirements for Merchants who provide goods and services listed in this category. POLi’s Merchant Terms and Conditions and/or Merchant Services Schedule may contain additional requirements applicable to merchants in this category.
- Financial services providers*
- Digital wallets, money transfer services*
- Pharmacies – must have a current pharmacy licence
- Online or digital marketplaces
- Registered Crypto Currency Exchanges*
- Business Specific Customer Accounts**
- Alcohol sales - must have a valid liquor licence. Merchant must take reasonable steps to verify that customers are 18 or over in accordance with the Sale and Supply of Alcohol Regulations 2013.
- Vape Stores - must be registered and approved as a Special Vape Retailer with the Health Advisory and Regulatory Platform (HARP)
- Buy Now Pay Later Services*
* must be registered as a Financial Service Provider
** A Business- Specific Customer Account is an account with a Merchant which is used to receive funds from the Merchant’s customers and which can only be used to purchase goods and services from that Merchant