QUOTE(max_cjs0101 @ Jan 12 2015, 10:36 PM)
Merchant will be charge 6% GST base on MDR offer by bank. example bank offer merchant 2.5% MDR (Merchant Discount Rate)Let say u buy an item cost $100, when u pay using credit card & total will be $100 + $6(6%GST).
Merchant will be charge 6% base on $100 X 2.5%= $2.50 X 6%(GST) = $0.15 (merchant will need to absorb this)
Bank will remit payment to merchant $ 97.50 - $0.15 = final amount receive by merchant $ 97.35, another $0.15 bank will remit to Kastam.
That what i been brief by bank.
Mar 15 2015, 01:14 AM

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