 What
is MEPS' role in FPX?
MEPS provides technical expertise as well as providing inter-bank switching
and routing infrastructure for the banks. MEPS will also manage the clearing and
settlement on behalf of the banks.
How does FPX works?
FPX is ideal for bill payments and purchases of goods and services via
online. For both customers and merchants, it offers the ease of payment via the
Internet.
- Click on "MEPS FPX" icon within the merchant's web page.
- Choose preferred bank for debiting purposes.
- Customer will be directed to the bank’s internet banking website and
will be required to key in his/her User ID and Password including TAC number
(if any).
- Upon approval, transaction value will be debited from the customer
account and credited to the merchant's account.
- Both parties will receive a notification confirming the transaction.
How will FPX benefit to customers?
With the introduction of FPX, customers can make payments at any time,
anywhere via direct debiting of his/her current or savings account(s). The
customer also can reach to wider merchants base since merchants can now accept
all customers who subscribe to any local internet banking services with any
bank.
What are the participating banks for FPX?
Currently, there are 6 participating banks: 1. Bank Islam, 2. CIMB Bank (CIMB
Clicks and CIMB Biz Channel), 3. Hong Leong Bank, 4. Maybank (M2U & M2E), 5.
Public Bank, 6. RHB Bank.
Do I have to register before making payments with FPX?
No registration is required with FPX. You may however, need to have an
internet banking account and may also need to register with the merchant,
depending on the merchant's requirement.
What must I have before I can make payments with FPX? What do I need to make
FPX transaction?
You must have an Internet banking facility with your bank.
Are there any charges for payments via FPX?
It will depend on your Internet banking subscription terms and conditions as
well as your merchant's Internet payment services terms and conditions.
How can I identify if a merchant accepts payment with FPX?
The merchant's website will display the FPX logo at the website.
What is the operating hour for FPX?
FPX service is available from 7:00 am to 11:00 pm daily, seven days a week, 365
days a year. However, FPX service is also dependent on the Internet Banking’s
service availability at the participating banks.
Is there a limit to the number of transactions that I can make in a day?
Yes, the limit is determined by either your bank or the merchant.
What is the maximum transaction limit?
Currently, the transaction limit for B2C Model is fixed at RM30,000 per
transaction, while the limit for B2B Model is fixed at RM1,000,000 per
transaction.
Source: www.meps.com.my
Date: June 2010
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