Document background
The Merchant Agreement serves as the foundational contract for establishing payment processing relationships in Malaysia's commercial landscape. This document is essential when a business wishes to accept card payments or other electronic payment methods through a payment service provider. The agreement encompasses crucial elements including payment processing terms, fee structures, settlement procedures, and compliance requirements with Malaysian regulations such as the Payment Systems Act 2003 and Personal Data Protection Act 2010. It also addresses international payment network standards while considering local business practices and regulatory requirements. The Merchant Agreement is particularly important given Malaysia's growing digital payment ecosystem and the need for clear contractual frameworks that protect both service providers and merchants while ensuring regulatory compliance.
