Overview

NetPay is an Internet Payment Solution designed for businesses in mind. Business owners can use NetPay to send and receive payments through Credit Card and Internet Banking. This is particularly useful for websites that sell products and services online.

Merchant Verification
Document Required:
  • Latest Bank Statement Header (Name, Address, Account Number must be displayed clearly)
Dispute Resolution (Chargeback / Holdback)
A chargeback occurs when a credit card holder asks their card issuer to remove a charge from their credit card statement. Most common reason makes chargeback occur is online fraud. When the chargeback filed to the merchant, the merchant may encounter a temporary hold on funds (equivalent to chargeback amount) in their NetPay account. The merchant is required to provide supporting documents such as invoice, proof of delivery, etc. for NetPay to assist merchant to challenge the chargeback with card issuer. If the chargeback filed successfully against the merchant, the merchant needs to refund (the chargeback amount only) to the credit card holder. Otherwise, the payment will be released back to the merchant. Merchant is fully responsible on any dispute and/or discrepancy of payment to be found from time to time.

Settlement
Frequency: Payment will be available for settlement after 7 working days from the shipment date. Due to that, NetPay merchant are required to update the shipment details for all transactions. NetPay settlement day fixed on Wednesday.

Payout method: The payout will be reimbursed via direct bank transfer into merchant’s dedicated bank account. The floating period of such transfer is 1-3 working days, subject to the bank account used by the merchant.

Currency: in Malaysia Ringgit (MYR)

Minimum payout: RM100.00

** Chargeback: Merchant is fully responsible on any dispute and/or discrepancy of payment to be found from time to time. If the merchant charge-back level exceeds 1% for consecutive 3 months, the merchant account will be terminated automatically.

** These are subject to change from time to time and may vary from merchant to merchant.

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