Category: Settlement

For settlement made after the weekend or federal public holiday, there will be different values transacted as settlement will be made differently for each day collected.

For example, if a user received a total collection of RM299 (after deducting RM1.00 for each transaction fee) for Friday, RM150 for Saturday (after deducting RM1.00 for each transaction fee) and RM100 for Sunday (after deducting RM1.00 for each transaction fee), these collections will be transacted in three different settlement. User or merchant will receive a mail stating the total settlement amount and the separated settlement amounts for each day. …

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There might be some instances where the bill is due even when the payment has been successfully made. Please email the payment receipt to contact@bizappay.my with the subject addressed as Close Bill Enquiry . The payment receipt can be retrieved from the history section of the payer’s online banking account. It is compulsory to include this receipt in order for our team to reconcile the payment with the bill, if any. …

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Once verified, settlement will be made upon next business day (T+1). No settlement is made on Saturday, Sunday and federal public holidays. Settlement day shall be the next business day for settlement days that fall on a federal holiday.

The time of settlement can be between 00:00 to 23:59 on the day of the settlement. Please note that you may experience a 24-hour delay occasionally due to the bank system maintenance.

For new users, for the first 2 days, the settlement will be made on the next Tuesday or Thursday whichever is the nearest business day. …

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There is no charge for the settlement process….

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Settlement is the transfer of collections made through Bizappay (deducting RM1.00 for each transaction fee) to the user’s or merchant’s account. Settlement will be made upon next business day (T+1) for all current Bizappay users.

Only users that have applied for direct settlement and gained approval from our acquired bank will not fall for any settlement schedule and are able to receive direct payment to their account. Please contact us at contact@bizappay.my addressing the matter as Direct Settlement Application….

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There is no credit needed for the transaction fee. The deduction is made immediately upon each payment….

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