Received a notice from iPay88 and MOLPay on 26th June 2013 afternoon about the additional processing fee of RM900 will be charged by processing bank (Alliance Bank) effective from 1st July 2013. This processing fees will be charged by Bank directly to the Merchant.
It was a shock to me for such a short notice and didn’t even give enough time for me to inform the customers.
This move is discourage the e-businesses to use the local service, and given the opportunity to the foreign service provider such as PayPal, 2Checkout and Google Checkout.
*but Google is stopping their Google Checkout by 20th November 2013
The initial RM400-500 setup fees already a bundle for a newly set-up e-business, and now with the additional RM900 processing fee which make it RM1300-1400 just for the payment gateway setup and application. Beside this, what I hear is the RM900 processing fee will be burn/forfeited if the application being rejected due to website unreadable, incomplete document and ect.