Enhancing Payment Security: Payee Verification

We believe it’s essential that we provide all our members security and comfort when they are making transactions on the Symbion Elite Rewards platform. 

That’s why we’ve upgraded our payee verification process, ensuring that not only do your payees comply with our platform's terms and conditions, but that their details match a known account - helping to avoid payments being made with incorrect details.

To see our enhanced security in action, watch our “payees” tutorial below.

How does payee verification work?

The Symbion Elite Rewards platform is designed to make payments to businesses easy, whilst earning points for our members. 

An important feature of our platform is the limitation of payments to payees with valid ABNs, this helps ensure only valid payments are made through the platform. Additionally, to align with our terms and conditions we ensure payments aren’t made to prohibited businesses, like gambling, crypto-currency, etc.

To ensure no payments are made to prohibited businesses or invalid ABNs, we validate every payee added to our system. To do this we check the details of every payee against a database of verified businesses. In most cases this check happens instantly, giving you immediate comfort that the payment details you have entered are correct and the business is verified.

If, for whatever reason, a payee is not immediately verified, our team conducts further manual checks to establish the status of the business. These can take up to three business days to complete. You would then be notified of the outcome of the verification process, and if the payee is verified, you can then continue to make your payment.

Do you have questions about payee verification?

Request a call from your Customer Success Representative to discuss payee verification in more detail.