Netpay Charges Announcement
Dear Valued Seller,
With the recent announcement from Bank Negara Malaysia saying that no extra charges imposed on cards transaction, we are also informed by Bank Negara Malaysia to submit sellers that are still passing the fees to buyers.
In line with the BNM policy changes, we would like to announce that by 4th of April, sellers are no longer allowed to pass the fee to buyers.
Introducing Flat 2% Netpay Fee
To aid you in the transition, we have decided to reduce the Netpay fee to a flat 2% sitewide across channels, you may refer to the table below for more information:
What You Can Do As A Seller
If You Passed The Fee To Buyer
All you need to do is to make necessary price adjustments i.e. cost in the 2% charges to your sales price before Wednesday, 4th of April. You can do this by updating the Selling Price through our mass edit feature.
Do make sure that the adjustments are done before Wednesday, 4th of April as we will be implementing the new rate & turning off the transfer to the buyer on that day.
If You Did Not Pass The Fee To Buyer
Great news for you! You can enjoy better rate now and you can adjust your pricing accordingly to be more competitive.
Sitewide Adjustment on 4th of April
As the new rate & adjustments will be reflected on Wednesday, 4th of April, we advise all sellers to make necessary changes before then.
We hope this initiative will help you to be more competitive and sell more on Lelong. Should you have any queries, please do not hesitate to contact us at here.