Err... no? That pool of customer money is not something they can simply use to re-invest somewhere else. It's more or less stored in a trust account that can't be touched for any other purpose.

Refer above & you'll have better understanding. You seem to have greatly misconstrued the term "business".

the market can at most fit around two player at end of the day...

So they either make it as big as possible now so the real winner will offer to take over them or if not big enough then kena killed off eventually ...

how do u know they are able to use the users funds? i tot the funds collected must be in a trust account as BP is regulated by BNM

yah. I just want to make sure someone is acknowledging the issue.
I understand the money is not really burnt at the same exact moment but there's nobody competent I can reach to.
Imagine if this happens overseas.

btw if ur transaction already settled, u can file a dispute form.


Attached File(s)
 Dispute_form_bigpay.pdf ( 201.22k ) Number of downloads: 45

not really. when u spend with BP i think they do have charges on merchant which would lower down some of their cost

most e-wallet or all were burning money right now

yup..... spending behavior and some other information which they could use for analysis or sell to those advertiser for profit

this depend on the rule and regulation BNM set for e-wallet company. like bank, there were actually taking our money to loan to others

ya, branding

That charge comes from MasterCard, not BP.

No, they can't do that unless they're cooking the books.

+1, most likely this will be the case.

If that is the case. Wonder where does bank get all the money to loan to others ? I thought that is the way how banking work. Money to earn money.

ewallet apps are not banks.
That's why there is a separate digital banking license for this.

You assumed that banks & e-money providers are the same; they're not.

https://www.quora.com/How-do-companies-of-m...llet-earn-money

anyone here have used the "merchatrade money visa prepaid card"
that has the functionality to lock in exchange rate and multi currency wallet?

vs bigpay, which one is better?

I asked this because i saw your reply on below . So you mean bank can not take our money to loan to others ??


this depend on the rule and regulation BNM set for e-wallet company. like bank, there were actually taking our money to loan to others

-- No, they can't do that unless they're cooking the books.

There's a thread for that
https://forum.lowyat.net/topic/4766860

Merchant trade
Pros
1. Free withdrawal at merchantmoney
2. RM1 withdrawal at ATM
3. Wechat treats it as Debit Card. So you can get free transfer to Banks via Wechat
4. On and Off promotions. On 11-11 last year, I spend Rm500 at taobao and got Rm100 back. This was on top of all the promotions in the taobao website. A similar promotion happened on 12-12 as well. In total I got almost RM200 cashback for Rm1000ish spending
5. There were some groceries shopping promo, and hotel/travel booking promos giving 10-20%
6. You can get the MCC code instantly
7. You can buy Forex (i do not have this feature activated)

Cons
1. They charge Rm10 or something as issuing fee, and there's an annual fee of RM8 that is waived the first year.
2. No CC reload
3. Took 1 month to process Taobao refund via Revpay, and they manage to screw it up twice by refunding someone else's transaction. I guess their process is less automated. This was in January.


There are a bunch of features that I do not have the chance of trying, such as eRemit, eForex, etc.

This post has been edited by kaiserreich: Jul 10 2019, 04:20 PM

i'm actually attracted to it's forex aka multi currency wallet function
and the ability to lock in the exchange rate to avoid fluctuations
so asking whether anyone has used it and compared to BP

since they do offer a lower exchange rate for their card compared to counter rate

This post has been edited by MR_alien: Jul 10 2019, 04:36 PM

The "they" I mentioned refer to the eWallet / e-money providers.

Well, the bank could do that. Assuming bank has "infinity" pool of fund.

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• HLB@UEP Subang Jaya branch at Taipan USJ 10

Just now tested at this branch. Not able to take 4k.

Total got 3 atm there. center one is pure atm. beside two is atm+CDM. tested left and center 4k, no luck.

This post has been edited by avinlim: Jul 10 2019, 06:46 PM

-deleted-

This post has been edited by avinlim: Jul 10 2019, 06:47 PM

Noted. Thank you for info.