Mobile Money Merchant Benefits
Sell to Anyone, Anywhere at Anytime - The merchant can now sell to people across town, across the country and take payment around the clock, which is not possible with current payment systems. Online selling (e-commerce) becomes a practical means for merchants since customers will only need to enter their mobile phone during checkout from merchant e-commerce website. For more info, please check the
payment process of online shoppers using Mobile Money.
No Minimum Monthly Transaction, No Rental Fee, No Merchant Account Required - Release yourself from the pressure of hitting the minimum monthly transaction amount to waive the rental fee, which typically runs at RM150 or more per month. Furthermore, you don't need to have a merchant account to apply for Mobile Money, your existing bank account will suffice. It will easily save you RM50,000 which you need to deposit in your merchant account with banks.
Super Low Transaction Fee at 1.5% - Save on transaction fee as 1.5% is the lowest transaction rate compared to what typically being charged by credit card (acquiring banks) at 2.5 to 3%. For e-commerce website integrated with Mobile Money WebLink, the transaction rate is 2.5%, one of the lowest online transaction rate compared to other typically charges such as 3.5% for MOTO transaction and 4.5% for Internet Payment Gateway.
Safe and Secure - With Mobile Money, merchants do not have to be concern of cash /cheque/credit card handling problems or fraud. The Mobile Money Payment System conforms to the stringent requirements set by Bank Negara Malaysia and the participating banks.
Low Signup Fees - Only RM100 for Retailers or RM300 for Corporate, which chargeable after the first 10 transactions. This is hard to beat by any standard!
Get Paid Super Fast - Super fast settlement in T+2 Days. Compared to other payments systems, Mobile Money guarantees that merchants are paid in 2 working days. Normal credit card or cheque will require at least 3-4 days for clearance. As for MOTO Payment / Internet Payment Gateway, it normally takes between 2 to 4 weeks or more!*
Multi Methods to Request for Payment - Merchants have multiple mode of operation to request for payments. You can use an IVR, SMS, Mobile Money Website, or even real time Mobile Money Weblink API weblink that can be integrated with your POS (Point of Sales) System or online storefront system. Don't forget to check out our webShaper e-commerce software which is integrated and tested in compliance with Mobile Money Weblink API.
Easy and simple interface to track and monitor all transaction and settlement records - All information at your fingertips by just accessing the web application at Mobile Money website at http://www.mobile-money.com
Refund and Reversal Features - Merchants are allowed to do reversal (within same business day) and refund (within 10 days from transaction date). For more details, please take a look at the Mobile Money Refund and Reversal FAQs.
In a nutshell, with more than 16 million mobile phone subscribers in Malaysia, it is inevitable that mobile phone will become a payment tool. Mobile Money enables the mobile phone to function like a credit card and it allows users to pay from wherever they may be. Let buyers buy from you without disclosing their credit card details. Remove away the initial trust barriers Now!
For more details on benefits of Mobile Money, check out official web page located at http://www.mobile-money.com/benefits-merchant.html
* Applicable for Merchants in Malaysia Only