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 Financial
Process Exchange (FPX) opens new doors for e-Commerce, in particular business to
business (B2B) and business to commerce (B2C) payments.
FPX is an alternative payment channel for customers to make payment at e-market
places such as websites and online stores as well as for corporations to collect
bulk payment from their customers.
It leverages on the Internet banking services of participating banks and
provides fast, secure, reliable, real-time online payment processing. FPX
provides a complete end-to-end business transaction, resourceful payment
records, simplified |
reconciliation and reduced risks as fund movements are between established
financial institutions.
Supported by the local financial institutions, FPX is operated by FPX
Payment Gateway Sdn Bhd, a subsidiary company of Malaysian Electronic
Payment System (1997) Sdn Bhd (MEPS).
Key Benefits:
- Convenient: Customers can shop and/or make payment online.
- Guaranteed Payment : Payments are conducted real-time online, thus
customers/merchants are assured of payment. A notification to confirm
payment is also provided to both parties.
- Unlock a new segment of markets: Via Internet, FPX reaches to a
broader base of customer/merchant segments.
- Operational efficiencies: FPX enhances efficiency via automation and
reduces the time taken from customer order stage to the payment stage.
Merchants can offer another payment channel for non-credit cardholders.
FPX also reduces operational costs.
- Secure: FPX uses authentication and certification to ensure
transaction is secured.
Source: www.meps.com.my
Date: June 2010
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