Pretty sure Maybank FAQ says it should cost merchants the same as using physical credit cards

https://web.archive.org/web/20220808105802/...erchant-faq.pdf

Makes no sense for Maybank to charge merchant for extra on top of the existing credit card fees already

EDIT: for comparison, I’ve also found another document for Maybank’s mobile POS terminal specifically with “MDR”: https://www.maybank2u.com.my/WebBank/Maybank-mPOS_faq.pdf

That is ridiculously high for a Merchant MDR rate when other banks are charging at least 1.2% onwards for VISA/Mastercard. Heck, large chains are negotiating for a 1% MDR rate with the banks as eWallets are charging around 1%

Wouldn't that just mean they skip accepting payment cards altogether, since you usually need to pay monthly fees just to rent the terminals?

Apple doesn't charge the merchant MDR fees to the shops. The merchant teams in the bank, either direct or they work with a reseller (think GHL, Harvest, etc..) they are the ones who set the fees for all the merchants, whether it is a large chain or a small mom and pop shop. I have gone through that process personally (when I ran a restaurant) and also from the bank side (when I was working at the bank). The bank will always set the fee. Of course these days, iPay88, GHL and all started offering their POS machine and with it their own fee MDR structure.

In terms of rates, here is the charges range from cheapest to highest

MyDebit (less than 1%) < eWallets (~1%) < Visa/Mastercard (~1-1.5%) < Amex (~1.3 to 1.8%)

Anything more than those rates, means there is a reseller who is going in with an additional cut.

Mind you, the rates above are on average what banks might charge to the customer. Not the network fees which are much lower.

p.s. I can't remember Unionbank rates or WeChatPay rates.

Any merchants who accept mydebit would have to accept credit cards as well due to the acquiring machines.

MyDebit is a debit scheme, which would use Visa or Mastercard as their network as well. So please refrain from lumping the two as different things!

Yes MyDebit is by PayNet and they are local, hence the low rate. They’ve been pushing this to go against visa/master, which is an international body with higher rate.

I don’t see yet any merchant or shop that have the terminal but limit only for MyDebit use only, even kedai acheh at my area accept visa/master. I don’t see the introduction of Apple Pay as something that going to hinder or push away merchants as the terminal only see the transaction as visa/master and not the way/method of using it.

What about physical card with PIN? Would you like to test that for us too?

test my UOB terminal
Apple pay with Maybank credit card pay RM8.00, Get RM7.92
maybank Credit card pay RM8.00 , Get RM7.90
maybank Debit card pay RM8.00, Get RM7.96