Card payments: rates, settlement, and compliance

Card payments (Visa and Mastercard) are enabled by default for all Billplz accounts. This article covers rates, settlement timelines, and how KYB verification affects your card payment access.

Rates

Transaction fees vary by membership tier and card origin (local vs foreign). See the Billplz pricing page for current rates. No annual activation fee is charged.

Card transaction fees are deducted directly from the payment amount before settlement, not from your Credit Balance.

Settlement

Card payments settle on a T+2 business days schedule. Funds from a card transaction processed on Monday reach your bank account on Wednesday.

Card payouts are held until you complete KYB verification. Once verified, all held funds are released and future card payments follow the T+2 schedule.

Daily Collection Limit

All accounts start with a default Daily Collection Limit (DCL) of MYR 3,000 for card payments. This limit applies to the total value of card transactions you can collect per day.

To request a DCL revision, contact the Billplz Support team at team@billplz.com.

KYB verification for card payments

Card payments are active for collection from day one, but payouts are held until you complete KYB (Know Your Business) verification. KYB confirms your business identity and is required to unlock card payment payouts.

How to complete KYB

To complete KYB, upload the required documents from Settings > Account Settings > KYB Verification. See Understanding identity verification (KYC and KYB) for the full document list and submission process.

KYB deadlines

Complete KYB verification as early as possible. The following deadlines apply from your first card transaction:

• Day 1–7 — You can collect card payments up to the daily limit. Payouts remain held until KYB is complete.
• After 7 days without KYB — Visa/Mastercard is disabled on your account. No further card transactions are allowed.
• Day 8–14 — You have an additional 7 days to complete KYB. Payouts remain held during this period.
• After 14 days without KYB — Billplz reserves the right to refund collected card funds to your customers and disable card payments on your account.

After KYB verification

Once KYB is verified:

• All held card funds are released and settled to your bank account
• Future card payments settle on the normal T+2 schedule
• Your account retains the default DCL of MYR 3,000 (contact Support to request a revision)