Eftsure is a B2B payment protection platform, which we also use to streamline and secure our supplier verification process. As part of our commitment to building a safer business community, we have partnered with Eftsure to help protect our suppliers and reduce the risk of payment error, fraud attempts and cyber-crime. Eftsure’s verification and alert system helps ensure payment details are accurate, significantly reducing the risk of incorrect payments.

Registering with Eftsure ensures we pay you, and not someone else incorrectly, either due to error or fraud.

Immediately prior to making a payment to you, the Eftsure system reviews the payment file and checks that the payment is going to the correct account.

In any instance where the bank account in the payment file is different to what is registered in Eftsure, the details are flagged to Peters Commodities staff for review and where necessary, update before the payment is processed.

Eftsure follows best practices in securing the system and the data it holds. It has been vetted by numerous organisations and is regularly audited and independently tested by specialist external security experts, including (but not limited to) Security In Depth, Pure Security and a major Australian bank.

Supplier data is stored in Eftsure servers, which are physically located in Australia, including back up servers.

Peters Commodities Finance Team will walk you through a step-by-step procedure prior to Eftsure’s verification process commencing.

You will then be sent a verification email (from Peters Commodities Pty Ltd noreply_verifications@petcom.au) requesting you to verify your bank account details either online via a bank link or via a phone call from someone on the Eftsure team.

For more details, see the “How does it work?” section below.

There is no charge for suppliers to use Eftsure. All costs are covered by Peters Commodities.

Once verified, no further action is needed unless your current bank details change.

The verification process

You will receive an email invitation from Peters Commodities to verify your information.

The verification is fully online and can be completed from your computer, tablet or smartphone. No paperwork or physical visits are required.

If you do not receive the invitation email within a few business days of being called by our team to explain the process, please check your spam folder or contact Peters Commodities on (03) 9824 6994.

Option 1: Online Verification Tool (Bank link)

If you do not have an online bank account, please refer to Option 2.

• Select your relevant Bank from the ones displayed.

If your bank does not appear in the displayed options, please refer to Option 2.

• You will be asked to sign in to your bank securely through the Eftsure Bank Link (Yodlee) option where the underlying financial system is leveraged to securely verify the Supplier’s nominated Account Name, Account Number and BSB, against the Australian Business Register (ABR) and Australian Business Numbers (ABN).

Your bank log in credentials are NOT seen or stored by anyone at Eftsure, Yodlee or our organisation.

• If the account name does not match your registered business name, you will receive a phone call from an Eftsure team member to verify your details verbally.

Option 2: Phone call

One of Eftsure’s verification staff will contact you and undertake an initial screening validation process related to the bank details provided by us. The verification staff will then complete a two-way, interactive account number verification process in order to verify the Account number, BSB, Account name and ABN.

To ensure the authenticity of the call, you will be asked to quote the 4-digit reference number that was provided to you via text message or email. Eftsure’s verification expert will then verbally provide you with the last 3 digits of the account number, and ask you to confirm the remaining digits, BSB, bank account name, and ABN.

We have a dedicated Eftsure phone number (02) 9054 4851 that is linked to the verification process so that you know when Eftsure calls you the person on the other side is legitimate.

Verification process completed

You will receive a confirmation email from Eftsure once your bank details have been verified.

Peters Commodities will also be notified by Eftsure to confirm the supplier’s verification process has been successfully completed.