Account Security and Common Questions

Account Security Features

• Two-factor authentication (2FA): Available in-app
• Password reset: Available in-app
• Fund protection: All assets are backed 1:1 on the network, with additional protection via local Trust accounts
• AML compliance: All users must complete KYC (Know Your Customer) verification under New Zealand and Australian AML regulations

KYC Verification

KYC is required for all PIN Network App users before trading or accessing funds. It is a one-time process completed during account setup. You will need to verify personal details including identity documentation.

How PIN Protects Funds

Assets, including local currency, are always backed 1:1 on the PIN Network. Funds are also secured in a local Trust account for extra protection.

Dispute Resolution

Pay It Now is a member of an independent dispute resolution scheme, as required by New Zealand law.

If you have a dispute:

1. Raise the matter directly with PIN or use the complaints and feedback process
2. If unresolved, contact the independent dispute resolution scheme (the service is free and provides an independent view)

The name of PIN's dispute resolution scheme can be found in its disclosure documents or by searching for Pay It Now on the Financial Service Providers Register.

• NZ FSP disputes reference: FSCL 8811
• AU AFCA disputes reference: AFCA 120932

Crypto Asset Reporting Framework (CARF)

From April 2026, certain transaction information may be shared with Inland Revenue (NZ) under the Crypto Asset Reporting Framework (CARF). Inland Revenue may then share that information with relevant tax authorities based on a user's tax residency. PIN does not share personal information with government departments as part of normal day-to-day platform use.

Is Cryptocurrency Legal in NZ and Australia?

Yes. Cryptocurrency is legal in both New Zealand and Australia, with regulations in place to ensure compliance with tax and financial laws.

Getting Technical Help

Log a support ticket at support.payitnow.io. The team is locally based and available to assist.

Bank Statements for Verification

To verify your bank account, proof of address, or source of funds, you will need to provide a recent bank statement. PIN has published step-by-step guides for Kiwibank, ANZ, ASB, BNZ, and Westpac at payitnow.io/blog/bankstatements.

Frequently Asked Questions

Do I pay gas fees when using the PIN Network? No. Zero gas fees apply to all transactions on the PIN Network.

Can I transfer my crypto to an external wallet at any time? Yes. You can bridge-off assets to an external wallet or platform at any time. A 1% unbridging fee plus external network fees applies.

What certifications does PIN hold? PIN is a licensed Financial Services Provider in New Zealand (FSP #1002374) and AUSTRAC-registered in Australia (DCE100820697-002). It also holds an Australian Financial Services Licence (AFSL 700057). Certification numbers are listed in the footer of the PIN website.

How does PIN generate revenue? Through peer-to-peer digital wallet services, integrated crypto exchange, on/off-ramp solutions, and PIN DATA (secure data storage). Revenue scales with network activity.

Source: payitnow.io/faq, payitnow.io/pinnetworkapp and payitnow.io/terms-and-conditions