Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

> No more RM50 credit card fee with GST, updated 23/3/2015

views
     
taiko8148
post Mar 15 2015, 01:14 AM

Getting Started
**
Junior Member
179 posts

Joined: Apr 2010
QUOTE(max_cjs0101 @ Jan 12 2015, 10:36 PM)
Does this mean all credit card transactions will have a 6% fee?
*
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.

Bump Topic Add ReplyOptions New Topic
 

Change to:
| Lo-Fi Version
0.0189sec    0.52    7 queries    GZIP Disabled
Time is now: 5th December 2025 - 11:43 PM