PayPal is easily enabled through Shinjiru. To get started, complete the following 2 steps.
Shinjiru is one of the pioneering web hosting provider in Malaysia since 1998 and has grown to be the largest dedicated server provider in Malaysia. We are the only web hosting company in Malaysia that has achieved ISO9001:2000 quality assurance and Microsoft Certified Partner. By hosting with us, you are guaranteed that you are hosting with a strong and reliable web hosting company which constantly and actively implementing continuous improvement in the industry.
Not only does Shinjiru brings you the highest level of quality in service and reliability but also align themselves strategically with partners who commit themselves to the same level of reliability, so as to bring you value-added services to help your business. One such partner is PayPal.
PayPal is a global leader in online payments with a total payment volume of US$71 billion in 2009 – approximately 15% of global ecommerce and 16.5% of US ecommerce1. PayPal accepts online payments in both Ringgit and over 20 other currencies, and has more than 81 million active accounts worldwide. Businesses get an average sales increase of 14% when they offer PayPal.
To enjoy the same privileges and more for your business, simply
sign up for a free PayPal Business or Premier account and download the integration guide.
2 Based on Q1 2006 PayPal phone survey of US small- and medium-sized businesses doing a minimum of $120,000 in annual sales online.
3 Active accounts are those that have had activity in the past 12 months. PayPal has a total of 210 million accounts worldwide.
4 Based on Q4 2007 survey of PayPal shoppers, conducted by Northstar Research.
5 Based on Walker information Inc.’s February 2006 Customer Relationship Assessment (Buyers); sample frame: used PayPal once in past three months, twice in past year.
6 PayPal Brand Tracker Q4 08.
PayPal is easily enabled through Shinjiru. To get started, here are the steps:
Now, you’re ready to start receiving payments. Here’s how it works when a buyer makes a purchase:
7 Receiving payments via bank transfers is available from approved countries. Click here.
PayPal has no set-up or monthly fees. Pay only a nominal transaction fee with PayPal when you receive a payment8.
The standard rate for receiving payments for goods and services is 3.4% + RM2.00 MYR.
If you receive more than RM12,000.00 MYR per month, you're eligible to apply for PayPal's Merchant Rate - which lowers your fees as your sales volume increases. Your fees can be as low as 2.4% + RM2.00 MYR, based on your previous month's sales volume.
| Monthly Sales | Fee Per Transaction | |
|---|---|---|
| RM0.00 MYR - RM12,000.00 MYR | 3.4% + RM2.00 MYR | Standard Rate |
| RM12,000.01 MYR - RM40,000.00 MYR | 2.9% + RM2.00 MYR | Merchant Rate |
| RM40,000.01 MYR - RM400,000.00 MYR | 2.7% + RM2.00 MYR | Merchant Rate |
| > RM400,000.00 MYR | 2.4% + RM2.00 MYR | Merchant Rate |
8 Your transaction will be completed at a retail foreign exchange rate determined by PayPal, which are adjusted regularly based on market conditions. This exchange rate includes a 2.5% spread above the wholesale exchange rate at which PayPal obtains foreign currency, and the spread is retained by PayPal. The specific exchange rate that applies to your multiple currency transaction will be displayed at the time of the transaction.
Visit our step-by-step guide here.
Please refer to the step-by-step guide here.
You can transfer money from your PayPal account to the following bank accounts:
| Bank Name | MEPS Bank Routing Code |
|---|---|
| AFFIN BANK BERHAD | PHBMMYKL |
| ALLIANCE BANK MALAYSIA BERHAD | MFBBMYKL |
| AMBANK BERHAD | ARBKMYKL |
| BANK ISLAM MALAYSIA BERHAD | BIMBMYKL |
| BANK KERJASAMA RAKYAT BERHAD | BKRMMYK1 |
| BANK MUAMAKAT BERHAD | BMMBMYKL |
| BANK OF AMERICA | BOFAMY2X |
| BANK SIMPANAN NASIONAL | BSNAMYK1 |
| CIMB BANK BERHAD | CIBBMYKL |
| CITIBANK BERHAD | CITIMYKL |
| DEUTSCHE BANK | DEUTMYKL |
| EON BANK BERHAD | EOBBMYKL |
| HONG LEONG BANK BERHAD | HLBBMYKL |
| HSBC BANK MALAYSIA BERHAD | HBMBMYKL |
| MALAYAN BANK BERHAD | MBBEMYKL |
| OCBC BANK (M) BERHAD | OCBCMYKL |
| PUBLIC BANK BERHAD | PBBEMYKL |
| RHB BANK BERHAD | RHBBMYKL |
| STANDARD CHARTERED BANK MSIA BHD | SCBLMYKX |
| THE ROYAL BANK OF SCOTLAND BERHAD (RBS) | ABNAMYKL |
| UNITED OVERSEAS BANK | UOVBMYKL |
Yes, the functionality to withdraw your PayPal balance to a US bank account is still available.
Note: For transactions involving currency conversion PayPal adds 2.5% to our wholesale exchange rates for foreign currency. This charge serves as a protection against the volatility and risk associated with FX markets. The PayPal exchange rates are updated on a regular basis throughout the day.
Yes, you can still transfer the balance in your PayPal account to your Visa® credit/debit card. Here's how:
There will be a flat fee of RM20 - regardless of the transferred amount.
It will take between 5 to 7 business days for the funds to reach your card account.
Due to the current Malaysian laws and regulations, there are some limitations on receiving money using MYR within the PayPal system. There may be cases which are not listed but require us to comply with the law. This means that we may not always be able to exchange your money or use your desired payment method (balance, credit card, etc).
e.g. if you hold a balance in MYR in your PayPal account, you will not be able to exchange it to US Dollars (or other currencies). You'll only be able to use your balance for transactions in MYR within Malaysia. Additionally, you can withdraw or transfer MYR from your PayPal balance to your bank account or Visa® credit/debit card.
Here are some different scenarios:
| Seller residing within Malaysia (with a PayPal Malaysia account) |
||
|---|---|---|
| You want to receive payments in | From buyers residing in | Is this admissible? |
| Malaysia Ringgit | Malaysia | Yes |
| Outside Malaysia | No | |
| Other currencies | Malaysia | Yes |
Outside Malaysia |
Yes |
|
Please note that your PayPal balance has also been set as the default payment method for your convenience.
No. At this time due to the current Malaysian laws and regulations, we cannot transfer money within your PayPal account between Ringgit and other currencies.
No. Due to current Malaysian laws, PayPal account holders outside of Malaysia will only be able to send payments to you in one of 22 currencies - excluding Ringgit. To see the full list of available currencies, click here.
For transactions involving currency conversion, a processing fee of 2.5% above the exchange rate will apply. This processing fee is retained by PayPal. This fee serves as protection against the volatility and risk associated with FX markets.
Important notes: We obtain our foreign-exchange rates from licensed financial institutions. Additionally, the foreign exchange rates are adjusted regularly to reflect market conditions. The exact exchange rate that applies to your transaction will be displayed to you at the time of the transaction.
Telephone: (65) 6535-7227
www.paypal.com/my