Table of contents:
Payment Application
Go to QashierHQ, Select "Payment Management"
Merchants are to click on "Apply Now" for the type of Payment method they wish to use.
After the merchant has submitted the application form for their preferred payment method, the status of their application will show as "Pending Approval".
Once the merchant's application has been approved, the status of their application will change to "View Payout Report". At this stage, the merchant can use the payment method(s) they applied for and access the payout reports.
What is MDR?
Different payment methods are subjected to different processing fees. Please refer to the chart below for the different rates and charges.
Note: Please note that MDR is subjected to SST at 8%.
Payment Method | MDR |
Debit/Credit Card In-Store |
|
Debit/Credit Card Online | 2.75% |
DuitNow QR | 0.80% |
E-Wallet | SOHO Plan | SME Plan | Enterprise Plan (Annual Turnover > RM50,000) |
Setup Fee | Free | RM388 + 6% SST | RM888 + 6% SST |
Boost Wallet | 1.5% | 1.3% | 1.3% |
GrabPay | 1.5% | 1.3% | 1.3% |
ShopeePay | 1.5% | 1.3% | 1.3% |
Touch N Go | 1.5% | 1.3% | 1.3% |
Maybank QR | 1.5% | 1.3% | 1.3% |
Payment Payout (MY)
GoBiz Payout Timeline
Credit Card Settlement Period is T+2 working days, excluding weekends and public holidays
Eg. Merchants do settlement on Monday night. The settlement period requires T+2 working days, the payout will be received on Wednesday.
Transaction day | Payout day |
Monday | Wednesday |
Tuesday | Thursday |
Wednesday | Friday |
Thursday | Following Monday |
Friday | Following Tuesday |
Saturday | Following Wednesday |
Sunday | Following Wednesday |
How to calculate payout amount (GoBiz)
Example Transaction |
| Calculation |
Total credit card sales | $1,000 |
|
Transaction Fee | 1.5% | 1.5% * $1,000 = $15 |
SST | 8% | 8% * $15 = $1.20 |
Payment Amount | $1,000 - $15 - $1.20 = $983.80 |
|
💡 Quick Math!
Transaction Fee = $1,000 * 1.5% * 1.08 = $16.20
Payout Amount = $1,000 - $16.20 = $983.80
QashierXS (White) Payment Terminal Payout Timeline
📌 Note: Processing of payouts on Qashier's end will be done during office hours, merchants can expect to receive the payout by the end of the day.
For example, if the transaction is made on a Monday and the settlement period is T+1 working day, Qashier will process the payouts during office hours on Tuesday, and merchants can expect to receive the payout by the end of Tuesday.
Credit Card Settlement Period is T+1 working days, excluding weekends and public holidays
Eg. Merchants do settlement on Monday night. The settlement period requires T+1 working days, the payout will be received on Tuesday
Transaction day | Payout day |
Monday | Tuesday |
Tuesday | Wednesday |
Wednesday | Thursday |
Thursday | Friday |
Friday | Following Monday |
Saturday | Following Monday |
Sunday | Following Monday |
❗️Important:
The payout cycle will follow the region's public holiday. For example, if the transaction is made on a Saturday and Monday is a Public Holiday, you will only receive your payouts on Tuesday.
Payment cut off timing is at 2359hr daily. If your business runs past midnight, the balance will only be paid out the following day
For example, if you run a bar bistro until 2am daily, transactions made on Monday up till 2359hr will be paid out on Tuesday, whereas transactions made from 0000hr-0200hr will be paid out on Wednesday.
How to calculate payout amount - QashierXS (White) Payment Terminal
Example Transaction |
| Calculation |
Total credit card sales | $1,000 |
|
Transaction Fee | 1.4% | 1.4% * $1,000 = $14 |
SST | 8% | 8% * $14 = $1.12 |
Payment Amount | $1,000 - $14 - $1.12 = $984.88 |
|
💡 Quick Math!
Transaction Fee = $1,000 * 1.4% * 1.08 = $15.12
Payout Amount = $1,000 - $15.12 = $984.88
E-Wallet Payout Timeline
❗️ Important:
Please note that rounding adjustment is done on all transactions.
Effective from 2024, a mandatory minimum transaction fee of 1 cent will be introduced.
For example: if the gross transaction amount is $0.30 and the MDR is 0.8%, the transaction fee (before rounding) would be $0.30 x 0.8% = $0.0024.
In this instance, a transaction fee of $0.01 will be applied to this transaction.
For DuitNow QR (Integrated)
The settlement period for DuitNow (integrated) will be T+1 working day
Payouts will be made on the next working day
Transaction day | Payout day |
Monday | Tuesday |
Tuesday | Wednesday |
Wednesday | Thursday |
Thursday | Friday |
Friday | Following Monday |
Saturday | Following Monday |
Sunday | Following Monday |
For DuitNow (GoBiz) and Ipay88
The settlement period for DuitNow (GoBiz) and Ipay88 will be T+2 working day
Payouts will be made after 2 working days
Transaction day | Payout day |
Monday | Wednesday |
Tuesday | Thursday |
Wednesday | Friday |
Thursday | Following Monday |
Friday | Following Tuesday |
Saturday | Following Wednesday |
Sunday | Following Wednesday |
How to calculate payout amount (e-wallet)
Example Transaction |
| Calculation |
Total credit card sales | $1,000 |
|
Transaction Fee | 0.80% | 0.8% * $1,000 = $8 |
GST | 8% | 8% * $8 = $0.64 |
Payment Amount | $1,000 - $8 - $0.64 = $991.36 |
|
💡 Quick Math!
Transaction Fee = $1,000 * 0.80% * 1.08 = $8.64
Payout Amount = $1,000 - $8.64 = $991.36