Do sole traders need to comply with the ePayments Code?

Depends on size or structure. Looking in the 2 industries it can reach and every size band, the engine's answer for a sole trader is: depends on size or structure.

Do businesses with 1–5 employees need to comply with the ePayments Code?

Depends on size or structure (1–5 employees, turnover $100K–$1M).

When is "Comply with the ePayments Code" due?

Continuous; compliance reporting per ASIC schedule.

Who must comply with the ePayments Code?

The applicability test for Comply with the ePayments Code (ASIC), computed across 35 industries, 9 business structures and 6 size bands.

Short answer: Some businesses

Applies when the business has industry: Banks & ADIs. Where the business has industry: Fintech (non-bank), check whether you subscribe to the ePayments Code (payment facilities).

What the obligation is

Voluntary but industry-standard code covering electronic transaction terms, mistaken internet payments, and unauthorised transactions.

The ePayments Code is a voluntary code that ADIs, payment system operators and many fintechs subscribe to. Covers Terms and Conditions disclosure, statements, mistaken internet payment recovery, and unauthorised transaction liability allocation. ASIC administers; subscribers report compliance.

The applicability test

Applies when the business has industry: Banks & ADIs. Where the business has industry: Fintech (non-bank), check whether you subscribe to the ePayments Code (payment facilities).

How the regulator frames it: Subscribers (most ADIs and many fintechs).

What triggers it: Subscribing to the Code; providing covered electronic transactions to consumers.

Jurisdiction: Commonwealth law, so the test is the same in every state and territory.

Which industries are in or out

Outcome across the 35 industries Rules Mate maps (1 of 35: yes; 1 of 35: only if a further fact applies; 33 of 35: no).

Industry	Answer
Banks & ADIs	Yes
Fintech (non-bank)	Only if a further fact applies
No	33 other industries

Business structure and size

Structure does not change the answer in the 2 industries it can reach: for every structure the answer is "depends on size or structure".

Size does not change the answer in the 2 industries it can reach: at every size band the answer is "depends on size or structure".

Worked examples

Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:

Pty Ltd company in banks & adis with 6–19 employees, turnover $1M–$3M: applies. Industry: Banks & ADIs.
Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Requires industry: Banks & ADIs.
Pty Ltd company in fintech (non-bank) with 6–19 employees, turnover $1M–$3M: check whether it applies. applies only if you subscribe to the ePayments Code (payment facilities)

When you need to check further

The engine shows this obligation as "check whether this applies" when a business has industry: Fintech (non-bank). It then applies only if you subscribe to the ePayments Code (payment facilities). That fact is not something Rules Mate can infer from industry, structure or size.

What you must do, and when

When due: Continuous; compliance reporting per ASIC schedule.
Frequency: Ongoing
Evidence to keep: Code subscriber documentation, T&C compliance, complaint handling records, ASIC reporting.
Status: Current
Priority: Medium

Penalty for not complying

Maximum penalty: Code-based; reputational + ASIC oversight.

Audit or assurance level

Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.

What usually applies alongside it

Across the 1,890 business profiles Rules Mate evaluates, these obligations apply to most of the businesses this one applies to, and are far more common among them than among businesses generally:

Where it sits in the corpus

Rules Mate tracks 5 published obligations tagged "payments", 0 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 0 of those apply outright. This obligation is rated medium priority, and is an ongoing duty.

Regulator, legislation and tools

Regulated by Australian Securities and Investments Commission.

ASIC: Corporate regulator administering the Corporations Act, financial services and credit licensing (AFSL/ACL), markets supervision, insolvency, and registries (ASIC and ABRS).

Australian Securities and Investments Commission

Free tools that help with this obligation:

Compliance calendar builder

Run the compliance journeyAnswer a short questionnaire about your business and get the obligations that apply to you, with the reason each one applies.

Questions

Who must comply with the ePayments Code?: Applies when the business has industry: Banks & ADIs. Where the business has industry: Fintech (non-bank), check whether you subscribe to the ePayments Code (payment facilities).
Do sole traders need to comply with the ePayments Code?: Depends on size or structure. Looking in the 2 industries it can reach and every size band, the engine's answer for a sole trader is: depends on size or structure.
Do businesses with 1–5 employees need to comply with the ePayments Code?: Depends on size or structure (1–5 employees, turnover $100K–$1M).
When is "Comply with the ePayments Code" due?: Continuous; compliance reporting per ASIC schedule.

Sources

Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.