Settlements and Charges
A. senangPay Settlement : Terms
Please read the terms for settlement to ensure you get paid
There a few terms and conditions that merchants need to be aware of concerning the settlement of the merchant’s money from senangPay (applied for Starter, Advance & Special Package) :
1. Merchants’ accounts must be active. Meaning, if the account is inactive due to non-payment of subscription fees, there will be no settlement from senangPay. You will not receive your payment from senangPay until your subscription fees are settled.
2. The minimum settlement amount is RM100. Meaning, if the amount is less than RM100, senangPay will not transfer the money to you.
3. To proceed the settlement, merchants need to provide document for identification to senangPay for verification purposes and is subjected to approval.
4. Merchants must provide valid account names and numbers from a local banks to senangPay via the dashboard.
5. We may request for proof of delivery for selected transactions to proceed with the settlement.
6. Suspicious transactions are subjected to verification from issuing banks and our payment schedule cycle will not be applicable for this type of transaction.
7. Settlement to merchants with the wrong account numbers will be made within 14 working days after the merchants enter their correct account number. The merchant will then be charged a one-time processing fee of RM12.75.
This package has been discontinued
B. senangPay X Stripe Terms & Agreement
This agreement sets out the Terms and Conditions under which merchant may utilize using Stripe Package Payment Services
- Merchant accounts will be reviewed for approval within 7 working days (subject to due diligence and background check).
- A chargeback fee of RM90 will be imposed should merchant proceed to contest a dispute.
- Any refunds on subscription fees due to the cancellation of services by the merchant will exclude RM150 for processing fee.
- Subscription fees are not refundable for merchants whose accounts are terminated
due to violation of our Terms & Agreement. - Any refunds on transactions can only be performed before the settlements of funds.
- The settlement cycle is T+5, processed on working days.
- Any transactions which exceed the threshold of 10% decline rate will be imposed a fee of RM 0.50 per transaction.
- Donation service is not allowed.
C. senangPay X Stripe Settlement : Terms
Please read the terms for settlement to ensure you get paid
Your settlement will be directly paid from Stripe . There are a few terms and conditions that merchants need to be aware of in terms of the settlement of the merchant’s money from Stripe
1. The merchant’s account must be active. Meaning, if the account is inactive due to non-payment of subscription payment made, there will be no settlement from Stripe. You will not receive your payment from Stripe until your subscription fees is settled.
2.The minimum settlement amount is RM 5. Meaning, if the amount is less than RM 5, Stripe will not transfer the money to you.
3. To proceed with the settlement, merchants need to provide identification documents to Stripe for verification and is subjected to approval.
4. Merchants must provide valid account names and numbers from a local banks to Stripe via the dashboard.
5. Any refunds on transactions can only be performed before the settlements of funds.