What is FPX? FPX Review, Features

FPX is a real-time online payment gateway in Malaysia, driven by MyClear, a wholly owned subsidiary of Bank Negara Malaysia. Through FPX, it is very simple for consumers to pay for online purchases, pay bills, and make payments between businesses, and even accept payments.

About FPX

• In 2019, FPX processed 236 million transactions, and online merchants collected a total of RM117 billion in payments through FPX, making it the largest online payment gateway in Malaysia.
• When consumers shop online, they only need to complete the payment through online bank transfer; for businesses, they need to have a company online bank account, and then they can start accepting payments. All transactions and payments are safe and arrive in real time. After the payment is successful, FPX will feedback the order status in real time and notify the merchant.
• FPX channel supports nearly 20 bank channels: Affin Bank, Alliance Bank, AmBank, Bank Islam, Bank Rakyat, Bank Muamalat, BSN, CIMB Clicks, Hong Leong Bank, HSBC Bank, KFH, Maybank2U, Maybank2E, OCBC Bank, Public Bank, RHB Bank, Standard Chartered, UOB Bank...

FPX supports 2 payment modes

1. Business to Consumer (B2C)

This model facilitates retail customer payments. A common use case is having an online banking account (individual customer) with one of the FPX participating banks who purchases goods/services from a participating seller or pays a bill online and has the payment debited from their current or savings account.

2. Business to Business (B2B)

This model facilitates corporate customer payments. A common use case is that a customer (company or organization) has a corporate Internet banking account and one of the FPX B2B banks debits from its current account of a participating seller to purchase goods/services or pays bills online from a participating seller. You get faster payments and it's simple to set up.

Advantages

• Support MYR transaction creation and MYR payment; (support MYR pricing, which is very important for improving payment rate).
• Real-time payment, no risk of rejection.
• Covers many mainstream banks in Malaysia, such as Maybank, CIMB Bank...