Financial Process Exchange

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 Business to Consumer (B2C) / Business to Business (B2B) Payment Model • 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. Collection Model • 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 Collection Model Application 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 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. 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 Payment Model Collection Model Banks in production enviroment Public Bank Berhad Public Bank Berhad Bank Islam Malaysia Bhd Bank Islam Malaysia Bhd Hong Leong Bank Bhd Hong Leong Bank Bhd Bumiputra Commerce Bank Bhd Bumiputra Commerce Bank Bhd   RHB Bank Bhd   Deutsche Bank   Citibank   HSBC Bank Banks which have confirmed participation in year 2006 Maybank Maybank RHB Bank Standard Chartered Bank   OCBC Bank Participating Merchants AirAsia Bhd Allianz Life Insurance Msia Bhd Amway Dragonback Media Interactive Sdn Bhd Exertainment MSB ING Funds Bhd iSentric Sdn Bhd Jaring LHDN MOL Access Portal MYCNX Holdings (M) Sdn Bhd Pan Malaysian Pools (PMP) Takaful Nasional Sdn Bhd