Money words.

The bank or payment company that accepts card payments for a shop and passes the money on.

Example: Your acquirer pays your card sales into your bank account.

When a customer disputes a card payment with their bank and the money is held back while it is checked.

Example: A customer says the order never arrived, so their bank opens a chargeback.

Malaysia's national QR code. Customers scan it with their banking or e-wallet app to pay.

Example: One DuitNow QR code works with most Malaysian banking apps.

An app that holds money for payments, such as Touch 'n Go, GrabPay or Boost.

Example: The customer pays with Touch 'n Go eWallet by scanning your QR code.

Merchant discount rate: the share of each card payment kept as the processing fee.

Example: If the MDR were 1.5%, a RM100 card sale would pay you RM98.50.

The card industry's security standard for anyone who handles card data.

Example: Our payments partner Fiuu is PCI DSS Level 1, the highest level.

Cash totals round to the nearest 5 sen, because 1 sen coins are no longer used.

Example: A cash bill of RM17.19 becomes RM17.20. Card payments are not rounded.

When the money from your card sales is paid into your bank account.

Example: Settlement for Friday's sales happens on the next working day.

Malaysia's certification body that approves devices such as payment terminals.

Example: The M9200 payment terminal is certified by SIRIM QAS.

Suruhanjaya Syarikat Malaysia, the body that registers businesses.

Example: A home business needs an SSM registration to take payments.

Sales and Service Tax. 8% is added to the software fee.

Example: A RM50 software fee becomes RM54 with SST.

Paid out one working day after the sale.

Example: Sell on Monday, and the money reaches your bank on Tuesday.