Below is an example of how your Dashboard will appear when you have received your settlement.
This can be found by going to Dashboard > Payment > List.
MDR there stands for Merchant Discount Rate. It is the rate that is charged for the transaction received by the merchant. In other words, it is the service charge taken from the gross amount.
The source for MDR can be from:
- 2.5% charge from total of credit/debit card transactions only, or
- 1.5% charge from each FPX transaction only, or
On top of that, GST is imposed on the MDR.
Hence, to summarize,
Nett amount = Gross amount – MDR – GST
Merchant can view the source of the MDR by clicking the turquoise “View” button, or, download an Excel report for the transactions by clicking on the blue “Download” button.
Below is an example after clicking the “View” button.
This calculation is based on the example given above.
2 FPX transactions :-
1) 1.5% of RM 99.00
= RM 1.485
2) 1.5% of RM 50.00
= RM 0.75 @ RM 1.00
* For FPX transaction, the charge is 1.5% or a minimum charge of RM1.00 which ever is higher. Thus, RM 1.00 will be charged for this transaction.
1 Credit Card transaction :-
1) 2.5% of RM 99.00
= RM 2.475
Total MDR = RM 1.485 + RM 1.00 + RM 2.475
= RM 4.96
6% of GST will be charged from the total MDR as follow :-
GST = 6% of RM 4.96
= RM 0.30
Nett amount = RM 248 – RM 4.96 – RM 0.30
= RM 242.74
Have more questions? Submit a request by clicking the green help button right side, bottom