No

Question

Response

1.

How will the payment gateway notify us when residents make payment?

After a payment is received, Fiuu sends a notification email immediately to the registered merchant (JMB/MC/RA/Company) email address and also to the payer.

2.

When a resident makes payment, will the funds be credited directly to our merchant bank account or will it be accumulated first and transferred into our bank account the next day?

Settlement is not immediate (not credited to the merchant bank account on the same day for every individual transaction).

Settlement is by batch (accumulated) and the settlement frequency may be T+2 except weekend and Public Holiday (Refer to the Fiuu merchant service agreement).

3.

For transaction fees, who will incur the cost? Resident or management?

Transaction fee is borne by the merchant/management.

4.

Is there any option to transfer the transaction fees/MDR to residents?

There is no option for charging transaction fees to residents.

5.

If the merchant/management must incur the cost, how is this fee charged?

For every transaction, do we receive the net amount after deducting the fee or we will receive the full amount and need to pay a lump sum for the fee at end of the month?

The amount credited to the merchant’s bank account during settlement will be the net amount after deducting the transaction fees.

6.

Can the payment gateway generate a transaction report on a daily or monthly basis? For monitoring and reconciliation purpose.

Yes, Fiuu provides access to a merchant portal (with merchant login ID & password). Reports that can be generated by the merchant include the Transaction listing for any selected date range and the Settlement report.

7.

For walk-in residents who choose to make payment using a credit card or debit card, will you provide the payment terminal device? Is there any fee for this device?

Refer to the Fiuu representative.

8.

During the application process, is there an option for the merchant to request to disable certain payment methods such as credit card and eWallet payment?

Yes, management (merchant) can make request to Fiuu during the application.

9.

Whether the transaction fees/ finance charges/ MDR is directly captured for individual transactions in i-Neighbour?

No, the management (merchant) needs to pass a journal entry in the accounting system to record the total transactions fees charged/ deducted during the settlement or end of month closing. The total transactions fees will be provided in the Settlement report generated from Fiuu merchant portal.