Hi, Gen-X, since you are the most active in CC forum, i have decided to highlight this issue to you. Your introduction to credit card mentioned that 1 point is = 0.5%. But i have a premonition that eventually 1 reward point = 0.1% in 2020 and beyond.

At the moment, the interchange fee paid to issuer is 1.8% for card-present CC, 2.0% for card-not-present CC, and 2.2% for foreign transaction.Hence, some banks can give you 5X points for overseas transaction.

But, BNM intends to lower the interchange fee to 0.48% by 2020, which means if bank continue to award 1 point as 0.5%, they are going to lose on every transaction, so most likely they might reduce the point to 0.1%. a RM50 voucher will go for 50,000 points, excluding postage.

The link is below.


http://www.bnm.gov.my/guidelines/50_others...m_Framework.pdf


Excerpt from the consultation paper:

"Consequently, consumers, including those who do not use payment cards, would have to pay higher prices of goods and services to subsidise the higher interchange fees paid to the issuers, which are mainly used to fund the loyalty points and other incentives enjoyed by cardholders, especially the premium cardholders." (Page 11)


Suggested interchange fee framework. (Page 51) cutting 1.2% to 0.48%.

But the good thing is, it is expected to have wider adoption of DC and CC, and you may even be able to use DC for "chap fan".

This post has been edited by Bahnhofstrasse: Nov 5 2014, 10:16 AM


Attached File(s)
 CP_Payment_Card_Reform_Framework.pdf ( 707.68k ) Number of downloads: 3

Anyone know how long ringgit plus take to reply you?

i keyed in my contact info on 23 Dec. until now, no reply from them.

After submitting the contact info, it said please check your inbox. However, I didn't receive anything yet.

Hi guys,


i am thinking of cancelling my stanchart credit card. However, this is the only card at the moment in my wallet which can pay IWK and cukai tanah Selangor and majlis perbandaran Nilai online?

Anyone know other credit cards which i can pay online to these 3 merchants? Please don't suggest M2U or Cimbclicks. these 2 sites only allow direct transfer from savings or current account.

i want to make payment from credit card, not savings account online!!!

Yes, pos online can pay all, but then.................... there is an additional 1% to 2% extra charges for credit card.

i am trying ambank credit card, because i noticed standard chartered processed IWK, cukai tanah selangor payment through MBF gateway. So Ambank card might be able to pay for it online.


The thing with stanchart card is that this card is very hard to use, you need to plan upfront. And even if you hit and fulfill, the effective rebate from Just one is only 2.8% on total spending.