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FPX Overview
Financial Process Exchange or FPX is an Internet based payment system/gateway which facilitates interbank transfer of funds from the Buyer to the Seller. The payment system also facilitates the transfer of funds on an offline batch mode.

The payment system/gateway was spearheaded by Bank Negara Malaysia and is managed by Malaysian Electronic Payment Systems (MEPS), a payment consortium which is wholly owned by local banks.

FPX Services

  1. Business to Consumer (B2C) / Business to Business (B2B)
    . Designed to support e-commerce businesses which require realtime payment settlements.
    . Facilitates online real-time transfer of funds from the Buyer to Seller to conclude e-commerce business transactions.
    . Buyer must be an Internet Banking user of any one of the participating FPX member banks.
    . Complements the business operations of companies/organisations/corporations/goverment agencies/exchange portals that manage its own web portal with storefront to sell its products and services which are targeted at businesses and consumers.

  2. MEPS Direct Debit
    . Designed to function as an alternative collection channel for businesses which are not Internet based and dealing in high value/volume of collections whether on periodical or adhoc basis.
    . Facilitates transfer of funds from Buyer to Seller on a batch mode (offline) based on a pre-approved application completed/executed by the Buyer.
    . Buyer must maintain either a Savings or a Current Account with any one of the FPX member banks.
    . Buyer must register for the service by completing the FPX Direct Debit Authorization Form which will be made available by the Seller.
    . Complements the business operations of companies/organisations/corporations/goverment agencies by offering alternative payment options to its Buyers for its product and services which are targeted at businesses and consumers.

FPX Value Proposition

  1. From Buyer's perspective.....
    . Convenient payment channel.
    . Cost savings and hassle free.
    . Prompt confirmation and notification on payment status.
    . Offers a secured and reliable payment option to shop online for products and services.

  2. From Seller's perspective .....
    . Direct crediting of sales proceeds leading to effective cash management.
    . Payment guarantee/assurance leading to higher productivity.
    . Minimises payment related risks such as dishonoured cheques and Credit Card charge-backs.
    . Reduces business operating costs.
    . Prompt, reliable and secured confirmation and notification on payment status.
    . Provides resourceful payment references to simplify reconciliation.
    . Ability to reach wider Buyer base from the participating banks.

Participating Member Banks

MEPS FPX MEPS Direct Debit
Public Bank Berhad Public Bank Berhad
Bank Islam Malaysia Bhd Bank Islam Malaysia Bhd
Hong Leong Bank Bhd Hong Leong Bank Bhd
CIMB Bank Bhd CIMB Bank Bhd
Maybank RHB Bank Bhd
RHB Bank Deutsche Bank
OCBC Bank Citibank
  HSBC Bank
  Maybank
  Standard Chartered Bank
  OCBC Bank
  Bank Kerjasama Rakyat Malaysia
  Bank of America

 

Participating Merchants

  1. Allianz Life Insurance Msia Bhd (DDS*)
  2. Amway
  3. Bahagian Kawalan Filem (BKF)
  4. Exertainment MSB (DDS*)
  5. GHL Payment Sdn Bhd (DDS*)
  6. GHL Transact Sdn Bhd (DDS*)
  7. IHM Risk Protection (DDS*)
  8. Jaring Reload
  9. Kenanga Investors Bhd
  10. Lembaga Hasil Dalam Negeri (LHDN)
  11. Lonpac Insurance Bhd
  12. Miri Port Authority
  13. MOL Access Portal
  14. MYCNX Holdings (M) Sdn Bhd
  15. My EG Services
  16. NEP Diamond Marketing Sdn Bhd (DDS*)
  17. Nu Skin (M) Sdn Bhd (DDS*)
  18. Pan Malaysian Pools (PMP)
  19. Public Mutual Bhd
  20. Etika Takaful Bhd
  21. PSMB (Pembangunan Sumber Manusia Bhd)

* MEPS Direct Debit Service

 

 


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