FAQ - Frequently Asked Questions

INSTAPAY PREPAID MASTERCARD

Last updated: 04 July 2019

Please read this Instapay Product Disclosure Sheet before you decide to take up the Instapay Prepaid Mastercard linked to your Instapay E-Wallet Account.

Be sure to also read the general terms and conditions.

1. What is Instapay Pre-paid Mastercard product about?

When you open an Instapay E-Wallet Account, you will be offered the option to own a physical Instapay Prepaid Mastercard for in-store purchases, online internet banking purchases at all domestic and worldwide Mastercard merchants as well as cash withdrawals via Bank ATMs with Mastercard Network.

The Instapay Prepaid Mastercard will be linked to E-Wallet Account balance and the limit will be based on the E-Wallet balance, up to a maximum of RM5,000.

The Prepaid Mastercard can also be used for petrol transactions at the outdoor petrol pump. A pre-authorisation amount of RM200 will be earmarked for petrol transactions during the time of transaction and released when the actual amount is claimed by the petrol station retailer.

2. What are the features of this product and what are the limitations?

In-store Purchase
The Instapay Prepaid Mastercard Card can be used to pay for goods and services at Mastercard merchants domestically and worldwide.

Online Purchases
You can make purchases online, do bill payments etc. by choosing “Mastercard” as payment mode for transactions and entering your card details.

Cash Withdrawal
You can withdraw cash from your Instapay E-Wallet Account through your linked Instapay Prepaid Mastercard from any bank ATM in Malaysia and ATMs overseas that accept Mastercard.

The following fees will apply for ATM withdrawals-

Location

Per Transaction Basis

Local Malaysian Bank

RM1.00

Overseas - International Banks ATMs accepting Mastercard

Charges as imposed by the ATM provider (International ATM)

J Safety Measures

To protect against fraud, you will be required to enter your Instapay Prepaid Mastercard’s PIN whenever purchases are made through your Instapay Prepaid Mastercard.

J Instapay Prepaid Mastercard Limit

The Instapay Prepaid Mastercard is linked to your Instapay E-Wallet Account limit, the maximum wallet limit is RM5,000 at any time.

What are my obligations?

◆ You must open an Instapay E-Wallet Account before you are issued an Instapay Prepaid Mastercard.

◆ Applicants must be a minimum age of 18 years old.

◆ Applicants must own a Malaysia-registered mobile phone number and a mailing address in Malaysia.

◆ No proof of income is required.

◆ Customer must take all reasonable precautions to prevent loss or theft of the Instapay Prepaid Mastercard. The customer shall notify our Call Centre by telephone, fax or email immediately upon discovery of loss or theft and confirm the same in writing to our Call Centre.


3. What will I need to register for this product?

You have to present your physical identification documents to our Instapay employee or authorized agent for verification before you can open an Instapay E-Wallet Account and obtain an Instapay Prepaid Mastercard linked to the wallet account.

You can also register online via the Instapay E-Wallet mobile App. Our Instapay employee may contact to verify details of your online application before the account and prepaid card can be registered and opened.

4. What fees and charges do I have to pay?

Our fees and charges are listed below-

Type of fee and charge

Amount charged (RM)

Starter pack

Free

Annual fee/maintenance

Free

Payment fees for purchases online and in retail outlets

Free

Card cancellation

Free

Card Replacement Fee

(Only applicable for Card replacement request made by Cardmember. Not applicable if due to defect of Chip or Card)

RM20.00

ATM Withdrawal Fee

(withdrawing cash from E-Wallet through Instapay Mastercard)

RM1 (Participating Banks in Malaysia)

Charges as imposed by the ATM provider (International ATM

5. What if I fail to fulfill my obligations?

You are responsible for maintaining adequate security and control of your User ID, Password, OTP, PIN or any codes that you will use to access the Instapay E-Wallet Account Instapay Prepaid Mastercard.

You must notify our Call Centre immediately upon discovering that your PIN number or any codes, usernames and passwords is compromised and follow up with a written confirmation together with a copy of your police report. We have the right to terminate your Instapay E-Wallet Account and Instapay Prepaid Mastercard if you fail to abide by the Terms and Conditions of Instapay E-Wallet Account and Instapay Prepaid Mastercard.


6. What are the major risks?

Compromising of usernames and passwords and unauthorised transactions are major risks that you must be aware of. You must take necessary precautions to prevent such breaches. Please review your transaction history in your account frequency to prevent fraud. Please refer to Paragraph 10 below on how to view the transaction history in your account.

You must notify us immediately after finding out finding out that your Instapay E-Wallet Account or PIN number or any codes, usernames and passwords have been compromised, or if you suspect that an unauthorised transaction has been conducted on your Instapay E-Wallet Account in order for us to block your account.

7. How safe is the money in your Instapay E-Wallet Account and linked Instapay Prepaid Mastercard?

Instapay is a fully licensed e-money issuer by Bank Negara Malaysia and your funds are held in a Public Bank trust account managed by PB Trustee Sdn Bhd (“Trust Account”) at all times.

In the event that Instapay Technologies Sdn Bhd voluntarily decides to exit in carrying out its business operations as an Issuer, Instapay Technologies Sdn Bhd will make necessary arrangements to facilitate handover / takeover of its issuing operations by another Issuer (“new Issuer”) acceptable to and to be approved by Bank Negara Malaysia (“BNM”), in an orderly manner subject to a minimum 3 months prior notice to its users and the account holders or such other period as may be agreed by BNM.

The new Issuer shall continue to honour the obligations including the terms and conditions stipulated in the existing terms and conditions as set-out in the Instapay Product document. No material changes or variation shall be made to any part of the Instapay Product Documentation and/or Product Disclosure Sheet until the user(s) of Instapay E-Wallet Account have decided to cease using the accounts or the new Issuer has notified the user(s) of Instapay E-Wallet Account on the change of these accounts to a new e-money facility (online wallet) offered by the new Issuer. Until a new trust account(s) is set up by the new Issuer, all funds held in the existing trust account(s) established and maintained with the licensed financial institution(s) shall remain unchanged.

However, should Instapay Technologies Sdn Bhd is unable to find a new Issuer acceptable to BNM to take-over its Issuing operation, Instapay Technologies Sdn Bhd shall cease accepting new applications from the user(s) of Instapay E-Wallet Account, will continue to manage its issuing operations until all its user(s) of Instapay E-Wallet Account have decided to cease using the account. Only then Instapay Technologies Sdn Bhd will cease operation.

8. What do I need to do if there are changes to my contact details?

It is important that you inform us of any changes in your contact details to ensure that all correspondence reach you in a timely manner. This can be done by contacting our Call Centre to update your contact details.


9. Where can I view my transaction history?

You can view your recent transactions on the App and download a statement of your transaction history, if you wish. You will be able to view your latest transactions on the App immediately after the actual transactions took place as all transactions are immediately posted to the account. You can download and print your statements, if you wish.

10. What is the contactless feature in the Instapay Prepaid Mastercard?

If the face of your Instapay Prepaid Mastercard displays the Contactless Indicator symbol, it means that your Instapay Prepaid Mastercard is enabled with a contactless feature. If you see the Mastercard contactless symbol displayed at the retailer or merchant’s point-of-sales (POS) terminals, you can tap your card on the contactless reader to complete a payment transaction up to RM250. Entering your PIN to authorise the payment transaction is not required. For transactions above RM250, you need to enter your PIN to approve the transactions. If you wish to lower your contactless payment / transaction limit or to turn off your contactless payment functionality, please contact our Call Centre at 1300-13-5678 or email your request to connect@instapaytech.com.

11. How can I get the replacement for the card?

Replacement cards can be obtained upon request to the Call Centre. There will be a replacement fee of RM20.00 for the replacement card.



INSTAPAY E-WALLET

Last updated on: 17 June 2019

Please read this Instapay Product Disclosure Sheet before you decide to take up the Instapay E-Wallet Account.

Be sure to also read the general terms and conditions.

12. What is Instapay e-wallet product about?

Instapay E-Wallet account, with a maximum limit of RM5,000 per account holder, can be used as an account for holding funds and for making payment to merchants through our mobile App and also through the Prepaid Mastercard linked to the E-Wallet account.

Instapay E-Wallet allows the user to receive money from salary, bank accounts and cards. It allows a user to send money to another Instapay e-wallet by keying in the mobile number of the holder, transfer funds to his/her Bank account, perform online and in-store purchases through the linked Prepaid Mastercard, pay bills and to reload your mobile prepaid (both domestic and international numbers).

13. What are the features of this product and what are the limitations?

Online Purchases
Perform online purchases with ease from your Instapay E-Wallet Account through internet banking and Instapay E-Wallet App. You can make purchases from third party websites, choose “Mastercard” as payment mode for transactions on these third-party websites.

Funds Transfer
You can transfer funds to any Instapay E-Wallet by entering the recipient’s registered phone number.

Internet Banking
Enjoy easy management of your account through Instapay E-Wallet mobile App. Users are able to manage and view their accounts online through the mobile App, perform bill payments, prepaid reloads, funds transfers and many more.

Cash Withdrawal
You can withdraw cash from your Instapay E-Wallet Account through your linked Instapay Prepaid Mastercard from any bank ATM in Malaysia and ATMs overseas that accept Mastercard.

The following fees will apply for ATM withdrawals-

Location

Per Transaction Basis

Local Malaysian Bank

RM1.00

Overseas - International Banks ATMs accepting Mastercard

Charges as imposed by the ATM provider (International ATM)

Channels to add money to your Instapay E-Wallet Account.
You can easily add money into your Instapay E-Wallet Account from these channels –

Channel

Reload Charges Per Transaction Basis

Local Malaysian Bank using FPX

RM1.00

Instapay Authorised Agent – Cash Transfer

RM2.00

Instapay Initiated Salary Credit from your Instapay registered employer

Free

Safety Measures
To protect against fraud, you will be required to use a password every time you want to login to your Instapay mobile App.

Whenever funds transfers or purchases are made from your Instapay E-Wallet Account, you will be required to enter a Transaction PIN.

Both App password and Transaction PIN are created by you at the time of registering the App.

You can access your Instapay account only from your own mobile phone.

Wallet Limit
The Instapay E-Wallet Account has a maximum wallet limit of RM 5,000.


14. What are my obligations?

◆ Applicants must be a minimum age of 18 years old.

◆ Applicants must own a Malaysia-registered mobile phone number and a mailing address in Malaysia.

◆ No proof of income is required.

◆ Customer must take all reasonable precautions to prevent loss or theft of the Instapay E-Wallet Account details. The customer shall notify our Call Center by telephone, fax or email immediately upon discovery of loss or theft and confirm the same in writing to our Call Center.

15. What will I need to do to register for this product?

You have to present your physical identification documents to our Instapay employee or authorized agent for verification before you can open an Instapay E-Wallet Account.

You can also register online via the Instapay E-Wallet App and upload the required documents through the App. Our Instapay employee may contact you to verify details of your online application before the account can be registered and opened.

16. What fees and charges do I have to pay?

Our fees and charges are listed below-

Type of fee and charge

Amount charged (RM)

Joining fee

Free

Annual fee /maintenance fee

Free

Transfer from Wallet to Wallet

Free

Transfer out to bank

Free

Balance enquiry

Free

Closing of E-Wallet Account

Free

Statement request (only electronic statements available)

Free

PIN change and PIN regeneration

Free

Reload Wallet Charges

FPX – RM1.00

Agent- RM2.00

Instapay Initiated Salary Credit- NIL

Type of fee and charge

Amount charged (RM)

ATM Withdrawal Fee

(withdrawing cash from E-Wallet through Instapay Mastercard)

RM1 (Participating Banks in Malaysia)

Charges as imposed by the ATM provider (International ATM)

17. What if I fail to fulfill my obligations?

You are responsible for maintaining adequate security and control of your User ID, Password, OTP, PIN or any codes that you will use to access the Instapay E-Wallet Account.

You must notify our Call Centre immediately upon discovering that your PIN number or any codes, usernames and passwords is compromised and follow up with a written confirmation together with a copy of your police report. We have the right to terminate your Instapay E-Wallet Account if you fail to abide by the Terms and Conditions of Instapay E-Wallet Account.

18. What are the major risks?

Compromising of usernames and passwords and unauthorised transactions are major risks that you must be aware of. You must take necessary precautions to prevent such breaches. Please review your transaction history in your account frequency to prevent fraud. Please refer to Paragraph 10 below on how to view the transaction history in your account.

You must notify us immediately after finding out that your Instapay E-Wallet Account or PIN number or any codes, usernames and passwords have been compromised, or if you suspect that an unauthorised transaction has been conducted on your Instapay E-Wallet Account in order for us to block your account.

19. How safe is the money in your Instapay E-Wallet Account?

Instapay is a fully licensed e-money issuer by Bank Negara Malaysia and your funds are held in a Public Bank trust account managed by PB Trustee Sdn Bhd (“Trust Account”) at all times.

In the event that Instapay Technologies Sdn Bhd voluntarily decides to exit in carrying out its business operations as an Issuer, Instapay Technologies Sdn Bhd will make necessary arrangements to facilitate handover / takeover of its issuing operations by another Issuer (“new Issuer”) acceptable to and to be approved by Bank Negara Malaysia (“BNM”), in an orderly manner subject to a minimum 3 months prior notice to its users and the account holders or such other period as may be agreed by BNM.

The new Issuer shall continue to honour the obligations including the terms and conditions stipulated in the existing terms and conditions as set-out in the Instapay Product document. No material changes or variation shall be made to any part of the Instapay Product Documentation and/or Product Disclosure Sheet until the user(s) of Instapay E-Wallet Account have decided to cease using the accounts or the new Issuer has notified the user(s) of Instapay E-Wallet Account on the change of these accounts to a new e-money facility (online wallet) offered by the new Issuer. Until a new trust account(s) is set up by the new Issuer, all funds held in the existing trust account(s) established and maintained with the licensed financial institution(s) shall remain unchanged.

However, should Instapay Technologies Sdn Bhd is unable to find a new Issuer acceptable to BNM to take-over its Issuing operation, Instapay Technologies Sdn Bhd shall cease accepting new applications from the user(s) of Instapay E-Wallet Account, will continue to manage its issuing operations until all its user(s) of Instapay E-Wallet Account have decided to cease using the account. Only then Instapay Technologies Sdn Bhd will cease operation.

20. What do I need to do if there are changes to my contact details?

It is important that you inform us of any changes in your contact details to ensure that all correspondence reach you in a timely manner. This can be done by contacting our Call Centre to update your contact details.

21. Where can I view my transaction history?

You can view your recent transactions on the App and download a statement of your transaction history, if you wish. You will be able to view your latest transactions on the App immediately after the actual transactions took place as all transactions are immediately posted to the account. You can download and print your statements, if you wish.

22. Where can I get further information? For more information, please contact us at:

Call Centre: Number 1300-13-5678 for local or +603 2720 3654 (International); OR Email: connect@instapaytech.com; OR leave a message on our website: www.Instapay tech.com.

23. How do I make a complaint?

If you wish to lodge any complaints, please contact our representatives or write to us at:

Instapay Technologies Sdn Bhd,

26-6, Q Sentral Jalan Stesen Sentral 2,

KL Sentral, 50470 Kuala Lumpur, Malaysia.

Information

Details

Name of the unit that handles complaints

Customer Service Instapay

Address of complaints unit

26-6 Q Sentral 2,

KL Sentral

50470 Kuala Lumpur, Malaysia

Phone number of complaints unit

1300-13-5678

Additional phone number to lodge complaints

+60-12-2308278

Email address of complaints unit

Connect@Instapaytech.com


If our reply to your query or complaint is not satisfactory to you, you may contact Bank Negara Malaysia LINK or TELELINK at:

Address: Block D, Bank Negara Malaysia,

Jalan Dato’Onn, 50480 Kuala Lumpur.

Tel: 1 300 885 465 Fax: +603-2174 1515

Email: bnmtelelink@bnm.gov.my

If our resolution to your query or complaint is not satisfactory to you, you may also refer your complaint to the Ombudsman for Financial Services (664393P).

ADDRESS:

Ombudsman for Financial Services (664393P)

Level 14, Menara Takaful Malaysia

No 4, Jalan Sultan Sulaiman

50000 Kuala Lumpur

PHONE: +603-2272 2811

FAX: +603-2272 1577

EMAIL: enquiry@ofs.org.my

24. What are the transaction limits on Instapay Card and e-Wallet?

Transaction Limits

Sr No.

Product

Amount Limit

1

Card

  • One-time ATM cash withdrawal limit of RM1,500
  • Daily ATM Cash withdrawal limit of RM5,000

2

Wallet

  • Daily wallet spending /transfer limit of RM1,000

Version 2 04/07/2019

The information in this disclosure sheet is valid as of 4 July 2019