BUSINESS SECTION
How To Be A Merchants
There is no specific criteria for merchants who wish to offer MEPS Cash as an alternative mode of payment. The basic rule is that the merchants, businesses and premises involved do not contravene Malaysian Laws. Additionally, each participating financial institutions will have their internal guidelines for selecting an eligible merchant.
There is a minimum standard Merchant Agreement between the merchant and e-Kencana. An acquiring financial institution or acquirer may add additional terms and conditions to meet their business requirements. Such additional terms and conditions shall not contravene the terms and conditions of the Merchant Agreement.
Merchants are required to provide a telephone line. While e-Kencana will provide each merchant with a MEPS Cash terminal, the merchant is required to pay for a very minimal refundable deposit for the terminal. e-Kencana will supply merchants with MEPS Cash terminals which are certified to accept electronic money payments that cater to the type of business they are involved in.
Each participating merchant will receive full service-support from the authorized terminal vendors. These terminal vendors will attend to all your technical and any other terminal related queries for free. These services include installations, configuration, training and paper-roll usage.
Merchant will also be provided with eye catching MEPS Cash above-the-line marketing materials including decals, buntings and leaflets to inform customers on the acceptance of MEPS Cash for payment at their premises. Merchants will also be provided with a terminal manual as a reference, to assist in their daily operations.
MEPS Cash Settlement
For settlement of payment, merchants only need to connect the terminal to the telephone line to upload the total MEPS Cash collections for the day. Transfer the purchase transaction data and value, to our system/host at the merchant’s convenience, to be credited next day into the merchant’s bank account!
The acquirer of a purchase terminal shall reimburse the respective merchant with the value of all transactions less fees (Merchant fee and Connectivity Fee).
The merchant shall make a payment request at least once every 5 days or on such date as specified by e-Kencana from time to time. A payment request that is forwarded before a cut-off time of 12 midnight will be received by the next working day (from Cut-off time).
Example:
- From midnight (00.00) till 23.59 p.m i.e. day 1 – collection of transactions from the terminals by e-Kencana’s system.
- Midnight (cut-over) – process the transactions collected
- By 9.00 a.m. of day 2 - the settlement reports are available in e-Kencana's server for the merchant to access.
- By 3.00 p.m. - e-Kencana will instruct its banker to make payments from its bank account to the merchant's bank account for the transactions paid with e-money.
The minimum payment request made by a merchant at any time is RM10.00, except in cases where the request for payment has not been made for the last 5 days.
