|Frequency of the settlement.
Payment will be available for settlement after 7 calendar days from the date the shipment is recorded. The payment will only process with valid shipment tracking details.
Merchant can now choose to have the option to have settlement 2 times per week (* This is not available for International merchant) or 1 time per week.
Kindly refer here for Netpay Settlement Calculation
|(a) 1 time per week settlement
By default, every merchant will receive settle once per week and it is fixed on every Wednesday.
This is how it works:
|(b) 2 times per week settlement (* This is not available for International merchant)
Merchant can now choose to have 2 times settlement per week and it is fixed on every Tuesday & Thursday.
This is how it works:
Merchant can choose this selection in the NetPay system as per the instructions below.
Note: Merchant can only request 1 time from the system. To revert to previous arrangement, merchant will need to contact email@example.com directly.
The payout will be reimbursed via direct bank transfer into merchant’s dedicated bank account. The floating period of such transfer is within 1-3 working days, and it is subject to the merchant’s financial provider/ bank.
Malaysia Ringgit (MYR)
|Minimum Settlement Amount
* This is not available for International merchant.
MYR100 is the minimum settlement for us to process. However, merchant is able to change the amount to a higher value. To do that, follow the below instructions:
Merchant is fully responsible for any dispute and/or discrepancy of payment to be found from time to time. If the merchant’s chargeback level exceeds 1% for 3 consecutive months, the merchant’s account will be terminated immediately.
* these are subjected to change from time to time, and may vary from merchant to merchant.
|How to check Settlement List in NetPay Account?
1.Log in to your NetPay account and click “Statement”
2.Choose “Month” & “Year” then click “View Statement”
3.You will see statement shown as below;
a.Merchant Address as per registered.
c.NetPay Transaction Fee charges.
d.Nett Amount after deduction of NetPay Transaction Fees + GST.
e.List for Weekly Settlement – click to view settlement details for particular week.
a. Total payable amount for settlement.
b. GST on Total NetPay Transaction Fees.
c. Settlement Fees + GST
d. Total Lelong.my Transaction Fee deduction (applicable for seller who activate auto-deduction)
e. To view Tax Invoice for NetPay Transaction Fee & Settlement Fee.
Example Tax Invoice: