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Prepaid Cards BigPay - Prepaid MasterCard (with Mobile Apps) V2, CashBack, BigPoint & Remittance

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majorarmstrong
post Jul 10 2019, 09:32 AM

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QUOTE(talexeh @ Jul 10 2019, 09:23 AM)
They absorbs all the commission fee? Their only source of income is pretty much the RM6 withdrawal fee.
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If that is the case then all e wallet also making loss even those that does not allow withdrawal
SUSCardNoob
post Jul 10 2019, 09:35 AM

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BP doesn't need to pay anything to Mastercard?
cybpsych
post Jul 10 2019, 09:35 AM

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QUOTE(talexeh @ Jul 10 2019, 09:23 AM)
They absorbs all the commission fee? Their only source of income is pretty much the RM6 withdrawal fee.
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topup -> bp (via gateway) will get imposed MDR %
avinlim
post Jul 10 2019, 09:35 AM

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QUOTE(majorarmstrong @ Jul 10 2019, 09:32 AM)
If that is the case then all e wallet also making loss even those that does not allow withdrawal
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They earn merchant fees (if any)...Dunno how they get on hold on that business when just keep giving out money like boost. rclxms.gif rclxms.gif rclxms.gif
talexeh
post Jul 10 2019, 09:40 AM

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QUOTE(majorarmstrong @ Jul 10 2019, 09:32 AM)
If that is the case then all e wallet also making loss even those that does not allow withdrawal
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When you use your BigPay & pay in foreign currency, you do realize that you're charged 0% commission right? You seem to conveniently forget that compared to the other eWallets, BigPay comes with a physical MasterCard & not a free-to-print QR code which cost almost nothing. Maybe you can tell us which eWallets other than BigPay that can be used in foreign land at the moment? Perhaps you'll want to read more here?: https://www.bigpayme.com/post/whats-the-exc...-rate-on-bigpay

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digidigi
post Jul 10 2019, 09:41 AM

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QUOTE(avinlim @ Jul 10 2019, 09:35 AM)
They earn merchant fees (if any)...Dunno how they get on hold on that business when just keep giving out money like boost.  rclxms.gif  rclxms.gif  rclxms.gif
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Boost > Axiata> EPF > our money
peigeng
post Jul 10 2019, 09:43 AM

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QUOTE(ClarenceT @ Jul 10 2019, 09:22 AM)
You top up RM10k using CC, they burn RM60~100 to Maybank and RM2 to you
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Assume they burnt 60-100 means less than 1% to gateway merchant fees.it is still cheap right?
ClarenceT
post Jul 10 2019, 09:45 AM

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QUOTE(majorarmstrong @ Jul 10 2019, 09:32 AM)
If that is the case then all e wallet also making loss even those that does not allow withdrawal
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So go to Bursamalaysia.com to check PUC Bhd's financial statements every quarter, you better stay with Airasia-Bigpay.
SUSCardNoob
post Jul 10 2019, 09:45 AM

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QUOTE(ClarenceT @ Jul 10 2019, 09:45 AM)
So go to Bursamalaysia.com to check PUC Bhd's financial statements every quarter, you better stay with Airasia-Bigpay.
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PUC wants to be the 1st digital bank in Malaysia.
Yesterday news in The Edge.
frozz@holic
post Jul 10 2019, 09:47 AM

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» Click to show Spoiler - click again to hide... «


sad to hear about your case but I second this, it's really a very bad support method, loss connection, when minimizing the app or returning to view other things on the app will trigger this problem.
I remember my case telling the same story 5-6 times just to ask a very simple question due to the reason above.
something has to be done to the chat support like maybe a pop up chat or able to minimize to a window (like google maps) while allowing us to browse the app or use the phone instead of waiting inside the chat, imagine you are in queue of >5 people.

BigPayJonathan

This post has been edited by frozz@holic: Jul 10 2019, 04:59 PM
cybpsych
post Jul 10 2019, 09:53 AM

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QUOTE(raizil @ Jul 9 2019, 05:29 PM)
I think I've had enough with BigPay. I had double payment issue before and took weeks for me to get the money back.

Today I bought concert tickets, all payments are made and somehow I don't get any confirmation from the merchant. Merchant said payment is not successful but BigPay already deducted my money. Contacted the chat support right away and support insist that the payment is made. I spend whole day trying to fix this.

Merchant said no payment from BigPay and Bigpay said payment already made.

All I wanna do is to cancel the transaction so I can just buy another ticket, but BigPay said it's not possible. So who's getting my money now?

The exchange rate is somewhat good but I don't think they are that reliable to handle your money. Just be careful when you place your money there. They can just take it and said nothing is their fault.

Once I get my refund, I'll cancel this stupid card.
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long story short, dispute further at OFS (Ombudsman for Financial Services). they are mandated to resolve disputes between financial consumers and financial service providers (FSPs).

dispute limit is RM25,000, so your case can be brought up there.

however, dispute with bigpay first. OFS is the last resort if no resolution or response from bigpay.
ClarenceT
post Jul 10 2019, 09:54 AM

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QUOTE(peigeng @ Jul 10 2019, 09:43 AM)
Assume they burnt 60-100 means less than 1% to gateway merchant fees.it is still cheap right?
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I am buying AirAsia tickets, Bigpay burn money but BP's parent gain.
akafoz
post Jul 10 2019, 09:57 AM

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QUOTE(talexeh @ Jul 10 2019, 09:23 AM)
They absorbs all the commission fee? Their only source of income is pretty much the RM6 withdrawal fee.
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RM6 per withdrawal should not be sustainable for this business.

I believe all e-wallet operator are also generating profit somehow with the collected fund.
Else why so many companies want to start e-wallet business.
ClarenceT
post Jul 10 2019, 10:04 AM

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QUOTE(akafoz @ Jul 10 2019, 09:57 AM)
RM6 per withdrawal should not be sustainable for this business.

I believe all e-wallet operator are also generating profit somehow with the collected fund.
Else why so many companies want to start e-wallet business.
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They are not generating profit. They just want to create and improve Enterprise Value and attract new investors to pump in more money. Founders are looking at the value not profit.
sewell
post Jul 10 2019, 10:04 AM

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QUOTE(celaw @ Oct 27 2018, 11:52 AM)
AEON Big Gold Cash Back pool is first come first serve basis. Not 100% will get like PBB VS/Quantum MC.

» Click to show Spoiler - click again to hide... «

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do anyone know when is the 1st day of the date for aeon big gold cash back start ?
lbh
post Jul 10 2019, 10:08 AM

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When each of the user leave RM20 in their wallet .. that is cash flow to them without need to pay us interest. They are able to use that million of dollar fund to roll. That is business.
digidigi
post Jul 10 2019, 10:08 AM

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QUOTE(akafoz @ Jul 10 2019, 09:57 AM)
RM6 per withdrawal should not be sustainable for this business.

I believe all e-wallet operator are also generating profit somehow with the collected fund.
Else why so many companies want to start e-wallet business.
*
They are definitely losing money at this stage
tohff7
post Jul 10 2019, 10:10 AM

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QUOTE(akafoz @ Jul 10 2019, 09:57 AM)
RM6 per withdrawal should not be sustainable for this business.

I believe all e-wallet operator are also generating profit somehow with the collected fund.
Else why so many companies want to start e-wallet business.
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It's all about big data. Just like why Grab/Uber is also burning money to subsidise your ride.

Boost and BigPay end-game is about the same - Micro-credit lending
LostAndFound
post Jul 10 2019, 10:13 AM

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QUOTE(lbh @ Jul 10 2019, 10:08 AM)
When each of the user leave RM20 in their wallet .. that is cash flow to them without need to pay us interest. They are able to use that million of dollar fund to roll. That is business.
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Do you even know what 'cash flow' is? Hint, the word 'flow'.

And a financial business is not like a business to 'roll' cash flow. They can't suka2 use the money to loan out or invest.

Definitely loss making since inception. Like almost all tech/startup type companies.
tan_aniki
post Jul 10 2019, 10:13 AM

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nowadays, they don't care about profit/lost, the most important thing is to build up the value of the brand, then sell off
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