Mastercard User Terms

The below terms apply only to Australian financial accounts connected via the Mastercard CDR Service.

In addition to the below terms, the PocketSmith Terms of Service and Privacy Policy also apply to your use of this account connection service.

PocketSmith enables you to connect a financial account that you hold with an Australian financial institution using the Australian Consumer Data Right (CDR). The CDR is governed by legislation including the Competition and Consumer Act 2010 (Cth) and the Competition and Consumer (Consumer Data Right) Rules 2020 (the CDR Law).

This functionality is provided by Mastercard Asia/Pacific Pte. Ltd. (Mastercard), an Accredited Data Recipient under the CDR Law (the CDR Service).

In order to connect your Australian financial account using the CDR Service:

• You will be taken to the Mastercard hosted CDR Service where you will have the option to consent to sharing specific financial accounts and data types with Mastercard. If you give your consent, Mastercard will collect only the data that you have explicitly agreed to share, directly from your financial institution in accordance with the CDR Law. Data governed by the CDR Laws is known as CDR Data.
• After you have consented to sharing your CDR Data with Mastercard, you will also have the option, as part of the CDR Service, to direct Mastercard to disclose your CDR Data directly to you, by sending it to your PocketSmith account. You can access and view your financial data collected by PocketSmith at any time through your PocketSmith account.
• You acknowledge and consent to PocketSmith collecting, using, storing, and disclosing any data that Mastercard has disclosed to your PocketSmith account (as part of the CDR Service), in order for PocketSmith to deliver its services to you. This includes displaying your financial information, categorising transactions, generating insights, forecasting future balances, and enabling other features of the PocketSmith platform. For further information about how PocketSmith will handle your data, please refer to our Privacy Policy.

You may manage your data sharing as part of the CDR Service and/or withdraw your consent at any time through the Mastercard consent dashboard that is made available to you via your PocketSmith account, or by contacting Mastercard in the ways listed in its CDR Policy. If you withdraw your consent, Mastercard will not be able to receive updated data from your financial institution through the CDR Service, and therefore some features of the PocketSmith service may be limited or cease to function.