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What is MEPS' role in FPX?
MEPS provides technical expertise as well as providing interbank 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. For both customers and merchants, it offers the ease of payment via the Internet.
There are two types of services that are currently offered by FPX :
- The Payment model:
- Click on "FPX" icon within the merchant's web page.
- Choose preferred bank for debiting purposes.
- Customer will be directed to the banks internet banking website and will be required to key in his/her User ID and Password.
- Upon approval, purchase value will be debited from the customer account and credited to the merchant's account.
- Both parties will receive a notification confirming the transaction.
- The Collection model
- Customer must complete the FPX collection form to authorize the merchant to debit his/her account for the agreed amount and time via the merchant's bank.
- The merchant will then notify the customer's bank to deduct the agreed amount from the customer's account.
- The agreed amount will be credited to the merchant's account.
The collection model is ideal for bulk collection such as premium collection for insurance or unit trusts.
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 11 participating banks:
- Bank Islam
- CIMB Bank
- Citibank
- Deutsche Bank
- Hong Leong Bank
- HSBC Bank
- Maybank
- OCBC Bank
- Public Bank
- RHB Bank
- Standard Chartered 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 under the payment mode.
What is the operating hours for FPX?
FPX services is available from 7:00 am to 11:00 pm daily, seven days a week, 365 days a year. However, FPX services is dependent on the Internet Banking 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, FPX's Payment Model has a limit of RM5,000 per transaction for B2C transactions and RM100,000 for B2B transactions. As for the Collection Model, the limit is set by the customer. Please refer to your bank for the latest information.
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