Archived copy of the section published on storehub.com until 21 October 2026. These terms refer to a Privacy Supplement at storehub.com/storehubpay/privacy. That address now opens the current StoreHub Pay Privacy Notice. The archived Supplement is at storehub.com/storehub-pay/privacy.
Payment Facilitation Terms & Conditions
1. About StoreHub Payments
1.1 What is StoreHub Payments?
StoreHub Sdn Bhd ("StoreHub", "we", "us", "our") operates an all-in-one point-of-sale platform that helps businesses across Malaysia run and grow. StoreHub Payments is a card payment acceptance service that allows you, as a registered merchant on our platform ("you", "Merchant", "Sub-Merchant"), to accept Visa and Mastercard payments from your customers ("Shoppers") through StoreHub's point-of-sale terminals.
1.2 How StoreHub Payments Works
StoreHub works with Adyen Malaysia Sdn Bhd (Company No. 201601000084) ("Adyen MY"), a licensed payment service provider regulated by Bank Negara Malaysia ("BNM"), to deliver card payment processing. In practice, this means:
StoreHub is your primary point of contact for onboarding, support, and day-to-day service queries.
Adyen MY provides the underlying payment processing and acquiring infrastructure that powers StoreHub Payments.
All card transactions are processed through Adyen MY's licensed systems and are subject to the rules of Visa and Mastercard (the "Card Schemes").
For the purposes of applicable financial services regulations in Malaysia, StoreHub enters into these Terms on behalf of, and as agent of, Adyen MY.
Adyen MY's contact details are set out in Section 15. While you may contact Adyen MY directly in relation to transaction queries, please direct all general support requests to StoreHub in the first instance.
1.3 Regulatory Status
Card payment processing under StoreHub Payments is carried out by Adyen MY as the licensed acquirer under Malaysian financial services law. StoreHub operates as a payment facilitator, meaning that while we manage your onboarding and day-to-day experience, the underlying payment infrastructure is regulated and operated by Adyen MY. This gives you the benefit of a regulated payment environment without the need to contract directly with an acquirer.
1.4 Who Can Use StoreHub Payments?
StoreHub Payments is available to any merchant registered on the StoreHub platform who meets the following eligibility criteria:
You are registered with the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia, "SSM") or otherwise validly authorised to carry on business in Malaysia;
You have a physical business operation or registered business address in Malaysia;
Your business falls within one of the approved Merchant Category Codes (MCCs) listed in Schedule A of these Terms;
You hold a Malaysian bank account in the name under which you conduct business; and
Neither you nor your business is listed on any applicable sanctions list or card network exclusion registry.
Merchants registered outside Malaysia are not eligible for StoreHub Payments at this time. If you are unsure whether you qualify, please contact us at [email protected] before applying.
2. Key Definitions
The following terms have the meanings set out below when used in these Terms:
Adyen MY
Adyen Malaysia Sdn Bhd (Company No. 201601000084), the licensed acquirer and payment processor.
BNM
Bank Negara Malaysia, the central bank and financial services regulator of Malaysia.
Card Schemes
Visa and Mastercard, and their respective rules and regulations.
Chargeback
A reversal of a transaction initiated by a Shopper's bank, which results in the return of funds to the Shopper.
MDR
Merchant Discount Rate: the fee StoreHub deducts from your gross transaction amount before settlement.
A business or sole proprietor registered with StoreHub to use StoreHub Payments.
Net Settlement Amount
Gross transaction proceeds, less the MDR, minimum transaction fees (if applicable), refunds, and chargebacks due from you.
POS Terminal
The Adyen-certified payment terminal provided to you as part of StoreHub Payments.
Prohibited Activities
Products, services, and business activities that are prohibited by the Card Schemes or by law. See Section 5.
Settlement
The transfer of your Net Settlement Amount to your registered bank account.
Shopper
A customer who makes a payment to you using a card at your POS Terminal.
StoreHub Gateway
StoreHub's proprietary technology platform that connects your POS Terminal to Adyen MY's processing systems.
StoreHub Payments
The card payment acceptance service described in these Terms.
3. Onboarding and Verification
3.1 What You Need to Provide
Before you can accept card payments, StoreHub must complete a due diligence and identity verification process required by BNM and Adyen MY. You agree to provide the following truthfully and accurately:
Business Information:
Legal business name (as registered with SSM)
SSM registration number
Registered and operating business address
Business category (MCC)
Expected monthly card transaction volume
Ownership Information:
Full name and Malaysian IC (MyKad) number of all directors and persons owning 25% or more of the business
Mobile number and email address
Banking Information:
Bank name and account number
Account holder name (must match your SSM registration)
Three (3) months' recent bank statements
Documents:
Copy of SSM registration certificate
MyKad (both sides) of all directors and 25%+ owners
Relevant business licences (e.g. F&B licence, liquor licence if applicable)
3.2 How We Verify Your Information
StoreHub uses the following tools to verify the information you provide. By submitting your application, you consent to these checks:
Entrust: For digital identity verification, document authenticity checks, biometric liveness detection, and sanctions/PEP screening.
CTOS: For business and personal credit scoring and financial health assessment.
SSM e-Info API: For real-time validation of your business registration status.
You warrant that all information you provide is true, complete, and not misleading. You must notify StoreHub promptly if any information changes.
3.3 Beneficial Ownership
As required by the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) and BNM regulations, StoreHub must identify all Ultimate Beneficial Owners (UBOs) of your business, that is, any natural person who directly or indirectly owns or controls 25% or more of your business. You must declare all such persons and provide the required identity documents for each.
3.4 Credit Assessment
StoreHub will obtain a CTOS business credit report for your business. We require a minimum credit score of 500 for standard approval. Where your business is new or has no credit history, we may use the personal CTOS score of the primary director (minimum 600). A lower score may result in placement in our Extended or Enhanced Settlement Tier (see Section 6.2).
3.5 Re-Verification
We will re-verify your information in the following circumstances:
Annually, as part of our Know Your Customer (KYC) refresh programme;
When you update your bank account, business address, or ownership structure; and
When a risk or compliance trigger requires us to review your account (e.g. a screening match or unusual activity).
Annual re-verification is a BNM minimum requirement and is non-negotiable. Failure to cooperate may result in suspension of your settlement or termination of your account.
3.6 Politically Exposed Persons (PEPs)
If you or any beneficial owner is identified as a Politically Exposed Person (PEP) (that is, a person who holds or has recently held a prominent public function), additional enhanced due diligence will apply. Domestic PEPs require approval at CEO level. Foreign PEPs are generally not accepted onto the platform.
4. PCI DSS Compliance
4.1 Your Obligations
Complete a Self-Assessment Questionnaire (SAQ B-IP) at the time of onboarding;
Renew your SAQ annually;
Complete mandatory security training during terminal activation;
Conduct monthly terminal inspections using the StoreHub app; and
Report any suspected security incidents to StoreHub immediately.
4.2 Consequences of Non-Compliance
If you do not maintain PCI DSS compliance, StoreHub may suspend your payment processing until compliance is restored. Card Schemes may also impose fines for non-compliance, and you will be responsible for any such fines.
5. Acceptable Use and Prohibited Activities
5.1 Permitted Use
StoreHub Payments may only be used to accept payments for lawful goods and services from your registered business, at your registered business location, through StoreHub-issued POS terminals.
5.2 Prohibited Activities
You must not use StoreHub Payments for any of the following. Doing so will result in immediate termination of your account and may result in legal action:
Illegal goods or services of any kind;
Adult content, escort services, or prostitution;
Drugs, narcotics, or controlled substances (other than licensed pharmacies);
Weapons, ammunition, or explosives;
Counterfeit or stolen goods;
Pyramid schemes, Ponzi schemes, or multi-level marketing with no genuine product;
Gambling or unlicensed gaming;
Processing transactions on behalf of a third party (i.e. acting as a payment aggregator yourself);
Money laundering, terrorist financing, or any activity prohibited under AMLATFPUAA or related regulations;
Any activity involving sanctioned persons, entities, or countries; and
Any product or service on Adyen's Prohibited and Restricted Products and Services List (available at https://www.adyen.com/legal/list-restricted-prohibited).
5.3 Restricted Activities
The following activities are permitted only with StoreHub's prior written approval and subject to additional compliance requirements:
Domestic sale of alcohol (licence required);
Sale of prescription medicines or pharmacy-only drugs via POS only (licence required);
Sale of tobacco products via POS only; and
Loyalty and reward balance schemes (closed-loop stored value).
If you wish to engage in a restricted activity, contact us at [email protected]. We will not process transactions for restricted activities without first verifying your applicable licences.
5.4 Correct Merchant Category Code
You must ensure that your business is registered under the correct Merchant Category Code (MCC) reflecting your actual business type. Processing transactions under an incorrect MCC is a violation of Card Scheme rules and may result in fines, suspension, or termination.
5.5 High-Volume Merchants
If your business processes more than USD 1,000,000 per year in Visa or Mastercard transactions through StoreHub Payments, Card Scheme rules may require you to enter into a direct agreement with Adyen MY. StoreHub will notify you if this threshold is approaching, and will coordinate the process of establishing a direct relationship with Adyen MY on your behalf. Failure to comply may result in suspension of your card payment processing.
6. Payments, Fees, and Settlement
6.1 How Transactions are Processed
When a Shopper pays you using a card at your POS Terminal, the following occurs:
The transaction is authorised in real time (typically 2–5 seconds) via the StoreHub Gateway and Adyen MY's acquiring platform.
Authorised transactions are automatically captured at 11:00 PM (Malaysian time) each day.
Adyen MY aggregates all your transactions from the previous day and settles the net amount to StoreHub's designated trust account at Citibank Malaysia.
StoreHub then calculates your Net Settlement Amount and pays it out to your registered bank account.
6.2 Settlement Tiers
StoreHub operates two settlement tiers based on your risk profile assessed at onboarding and during your time on the platform:
Tier
Settlement Timing
Who Qualifies
Standard (T+2)
2 business days after transaction date
Established merchants with satisfactory credit and compliance profiles
Extended (T+7)
7 business days after transaction date
New merchants, merchants with lower credit scores, or those requiring enhanced monitoring
Enhanced (T+14)
14 business days after transaction date
Merchants requiring enhanced risk monitoring or placed under additional review
Your settlement tier will be communicated to you at onboarding. You may be moved between tiers based on your ongoing compliance and risk profile. We will notify you if your tier changes.
6.3 Fees
The following fees apply to your use of StoreHub Payments. Full pricing details are set out in your Merchant Agreement or onboarding documentation:
Merchant Discount Rate (MDR): A percentage deducted from each transaction's gross amount. Your applicable MDR is stated in your onboarding documentation.
Minimum Transaction Fee: A minimum fee per transaction, as stated in your onboarding documentation.
Chargeback Fee: A fee charged for each chargeback received, regardless of outcome.
Terminal Service Charge: RM 50 per month if your card transaction volume is below RM 5,000. Waived in any month you meet or exceed RM 5,000. Takes effect from your second full calendar month after terminal activation.
Other Fees: StoreHub may introduce additional fees with 30 days' prior written notice.
All fees are deducted from your settlement amount and are inclusive of applicable taxes unless otherwise stated.
6.4 How Your Net Settlement is Calculated
Your Net Settlement Amount is calculated as follows:
Start with your gross transaction amount for the period;
Deduct the MDR and minimum transaction fee (if applicable);
Deduct any refunds processed during the period; and
Deduct any chargebacks received during the period.
Example: On a RM 100 transaction with a 1.20% MDR, the fee deducted from your settlement would be RM 1.20, and your Net Settlement Amount would be RM 98.80. If a minimum transaction fee of RM 0.20 applies and the MDR on a transaction is less than RM 0.20, the minimum fee is charged instead.
6.5 Failed Payouts
If a settlement transfer to your bank account fails (for example, due to invalid account details), the funds will be held in our merchant payout account and you will be contacted to provide updated banking details. Funds will be reprocessed in the next settlement cycle once valid details are confirmed.
6.6 Negative Balances
If refunds, chargebacks, or fees result in a negative balance on your account, StoreHub may:
Deduct the negative balance from your next settlement;
Request immediate repayment from you; and/or
Suspend your settlement until the balance is cleared.
You remain liable for any negative balances even after termination of your account.
6.7 Trust Account Structure
Customer funds received from Adyen MY are held in segregated trust accounts maintained by StoreHub at Citibank Malaysia. These accounts are distinct from StoreHub's corporate operating funds. Your settlement funds will not be used for StoreHub's operational purposes.
7. Refunds and Chargebacks
7.1 Refunds
You may process refunds to Shoppers through the StoreHub platform. Refunds must be processed to the original payment method used for the transaction. Refund amounts will be deducted from your next settlement.
You must not issue a refund using a different payment method to the original transaction, as this is a known method of payment fraud and a breach of these Terms.
7.2 Chargebacks
A chargeback occurs when a Shopper disputes a transaction with their bank or card issuer. If a chargeback is raised against your business:
The disputed amount will be immediately deducted from your pending settlement;
You will be notified and may dispute the chargeback within 48 hours by submitting evidence through the StoreHub platform;
A non-refundable chargeback fee will be charged regardless of outcome; and
If the dispute is resolved in your favour, the amount will be credited to your next settlement.
7.3 Chargeback Thresholds
Adyen MY will flag chargeback rates exceeding 0.5% of your monthly transaction volume as potentially unacceptable. StoreHub's internal monitoring threshold for involuntary termination review is a chargeback rate exceeding 1% for two consecutive months. Both thresholds apply.
If your chargeback rate reaches or approaches these thresholds, StoreHub may:
Contact you to discuss remediation steps;
Apply additional transaction monitoring;
Increase your settlement reserve; and/or
Suspend or terminate your account (see Section 10).
7.4 Liability Period
Example: On a RM 100 transaction with a 1.20% MDR, the fee deducted from your settlement would be RM 1.20, and your Net Settlement Amount would be RM 98.80. If a minimum transaction fee of RM 0.20 applies and the MDR on a transaction is less than RM 0.20, the minimum fee is charged instead.
8. Transaction Monitoring and Compliance
8.1 Why We Monitor Transactions
As a payment facilitator operating under BNM-regulated frameworks, StoreHub is required to monitor transactions for signs of fraud, money laundering, terrorist financing, and other financial crimes. Our monitoring activities are governed by our internal AML/CFT Policy and BNM's regulatory requirements under AMLATFPUAA.
8.2 Monitoring Activities
We monitor your transaction activity on an ongoing basis. This includes, but is not limited to, monitoring for:
Transactions significantly exceeding your declared average transaction value;
Sudden unexplained spikes in transaction volume or frequency;
Unusual patterns such as multiple transactions from the same shopper in a short period;
Transactions at unusual hours inconsistent with your business type;
High refund rates;
Patterns that may suggest structuring, layering, or other money laundering typologies; and
Any activity that appears inconsistent with your declared business activity.
8.3 Transaction Limits and Thresholds
If your chargeback rate reaches or approaches these thresholds, StoreHub may:
Contact you to discuss remediation steps;
Apply additional transaction monitoring;
Increase your settlement reserve; and/or
Suspend or terminate your account (see Section 10).
Transactions that exceed these limits or trigger our monitoring rules will be held for review. We may contact you for further information. If no satisfactory explanation is provided within a reasonable timeframe, the transaction may be declined and your account suspended.
8.4 Regulatory Reporting
StoreHub is required by Malaysian law to report certain transaction activities to BNM and other regulatory authorities. You acknowledge that:
StoreHub may be required to file reports with regulators regarding activity on your account without notifying you;
Such reporting obligations are imposed by law and cannot be waived; and
Cooperation with StoreHub's compliance and monitoring activities is a condition of your use of StoreHub Payments.
Important
StoreHub's obligation to file regulatory reports is required by law. We are not permitted to inform you in advance when a report has been or will be filed. This is not an indication of wrongdoing. It is simply how regulated financial compliance works.
8.5 Sanctions Screening
Your business, all directors, and all beneficial owners are screened against the following sanctions and watchlist databases at onboarding and on an ongoing basis:
United Nations Security Council Consolidated List
OFAC Specially Designated Nationals (SDN) List
European Union Consolidated List
United Kingdom OFSI Consolidated List
Canada's Consolidated Sanctions List
BNM Domestic Targeted Financial Sanctions List
Global PEP databases and adverse media sources
Visa VMSS (Visa Merchant Screening Service)
Mastercard MATCH (Member Alert to Control High-Risk Merchants)
If a confirmed sanctions match is identified, your account will be immediately blocked, and we will take all required steps under Malaysian law and Adyen's compliance framework, including filing required regulatory reports.
8.6 Your Compliance Obligations
You agree to:
Comply with all applicable Malaysian laws and regulations, including AMLATFPUAA, the Financial Services Act 2013, and Card Scheme rules;
Ensure that your business, directors, and beneficial owners do not engage in activities that violate these Terms or applicable law;
Promptly respond to requests for information from StoreHub's compliance team;
Notify StoreHub immediately if you become aware of any suspected fraud, money laundering, or suspicious activity relating to your account; and
Not engage in or facilitate any transactions that would violate sanctions regimes applicable in Malaysia.
9. Data and Privacy
Your use of StoreHub Payments involves the collection and processing of significant personal and business data, including identity documents, biometric data, financial records, and transaction history. This processing is described in detail in our StoreHub Payments Privacy Supplement, which forms part of these Terms and is available at https://www.storehub.com/storehubpay/privacy.
By accepting these Terms, you also acknowledge that:
Adyen MY may access transaction data relating to your account for regulatory, fraud prevention, and risk management purposes;
StoreHub will share your information with BNM, regulatory authorities, and Card Schemes where required by law or Card Scheme rules; and
StoreHub's data retention periods for payment facilitation records are governed by BNM requirements, generally a minimum of 7 years from account termination.
10. Suspension and Termination
10.1 Voluntary Termination by You
You may close your StoreHub Payments account at any time by contacting us at [email protected]. Closing your account does not affect any outstanding obligations, including pending chargebacks, negative balances, or fees.
10.2 Termination or Suspension by StoreHub
StoreHub may suspend or terminate your StoreHub Payments account with immediate effect in the following circumstances:
Fraud (suspected or confirmed) or a material compliance breach;
Violation of these Terms, including engaging in Prohibited Activities;
A confirmed sanctions match or a law enforcement directive;
Your business ceases to operate or enters bankruptcy or insolvency proceedings;
Adyen MY or a regulatory authority instructs StoreHub to terminate your account; or
Any other circumstance that StoreHub reasonably determines poses a risk to the integrity of the payment system or the interests of Shoppers.
StoreHub may terminate your account on notice (without immediate effect) in the following circumstances:
Chargeback rates exceed 1% for two consecutive months;
A prolonged negative balance that is not remedied within the specified timeframe; or
Extended inactivity of more than 180 days.
10.3 Actions on Termination
Upon termination of your account:
Your POS terminals will be deactivated remotely;
Pending settlements will be calculated and disbursed (or set off against amounts owed) after the applicable chargeback liability period;
You must return all StoreHub-provided POS terminals to StoreHub within 14 days; and
Your obligations under these Terms in relation to outstanding chargebacks, data retention, and indemnities survive termination.
10.4 Card Network Reporting
In cases of termination for fraud or material AML/compliance breaches, StoreHub is required under Card Scheme rules to report your business to card network monitoring programmes. This may result in your business being listed on databases that prevent you from accepting card payments through other payment facilitators. You acknowledge this consequence and accept it as a reasonable and lawful outcome of engaging in conduct that triggers such termination.
11. Equipment
All POS terminals provided to you remain the property of Adyen MY and/or StoreHub at all times. You must not resell, modify, or transfer terminals to any third party. Terminals must be used only for processing transactions through StoreHub Payments. Upon termination, you must return all terminals in good working condition. StoreHub may charge for terminals that are not returned or are returned in a damaged condition.
12. Disputes Between You and StoreHub
12.1 Raising a Dispute
If you have a concern about StoreHub Payments, please contact us first at [email protected]. We will acknowledge your query within 24 hours and aim to resolve it within 5 business days.
12.2 Escalation
If your concern cannot be resolved informally, you may escalate it in writing to StoreHub's Head of Risk & Compliance. We will respond within 10 business days with a proposed resolution.
12.3 Governing Law and Jurisdiction
These Terms are governed by the laws of Malaysia. Any dispute that cannot be resolved through our internal complaints process will be subject to the exclusive jurisdiction of the courts of Kuala Lumpur, Malaysia.
13. Liability and Indemnity
13.1 Our Liability to You
StoreHub's liability to you for direct loss arising from a breach of these Terms is limited, in aggregate per calendar year, to the total transaction processing fees paid by you to StoreHub in the preceding 6 months. We do not accept liability for any indirect, consequential, or special losses, including loss of profit, loss of business, or reputational harm.
StoreHub is not liable for acts or omissions of third parties, including Adyen MY, Card Schemes, issuing banks, and acquirers. Adyen MY operates independently as a licensed entity and is responsible for its own services.
13.2 Your Indemnity to Us
You agree to indemnify StoreHub and Adyen MY against all losses, claims, fines, and costs (including legal fees) arising from:
Your breach of these Terms;
Your non-compliance with applicable law or Card Scheme rules;
Any fines imposed by Card Schemes as a result of your conduct;
Any security breach or data loss attributable to your systems or actions; and
Any third-party claims arising from your products, services, or business conduct.
14. General
14.1 Changes to These Terms
StoreHub may update these Terms from time to time. We will provide at least 30 days' notice of material changes via email or through the StoreHub platform. Continued use of StoreHub Payments after the effective date of any changes constitutes acceptance of the updated Terms. If you do not agree to any changes, you may close your account before the effective date.
14.2 Entire Agreement
These Terms, together with your onboarding documentation, the StoreHub Payments Privacy Supplement, and StoreHub's main Platform Terms & Conditions (available at https://www.storehub.com/my/terms-conditions), constitute the entire agreement between you and StoreHub in relation to StoreHub Payments.
14.3 Severability
If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.
14.4 No Waiver
A failure by StoreHub to enforce any provision of these Terms on one occasion does not constitute a waiver of that provision.
14.5 Assignment
You may not assign your rights or obligations under these Terms without StoreHub's prior written consent. StoreHub may assign these Terms to any Adyen group company or any successor to StoreHub's payment facilitation business.
14.6 Language
These Terms are drafted in English. In the event of any conflict between an English version and any translation, the English version prevails.
15. Contact Information
General Enquiries
Compliance Team
Registered Address
StoreHub Sdn Bhd, Level 7, KYM Tower, No. 8 Jalan PJU 7/6, Mutiara Damansara, Petaling Jaya, Selangor
Schedule A | Approved Merchant Categories (MCCs)
StoreHub Payments is available to businesses operating in the following categories. If your business category is not listed, please contact us at [email protected] before applying.
Food & Beverage:
5411: Grocery Stores and Supermarkets
5812: Eating Places and Restaurants
5814: Fast Food Restaurants
5441: Candy, Nut, and Confectionery Stores
5462: Bakeries
Retail:
5999: Miscellaneous Retail
5651: Family Clothing Stores
5943: Stationery Stores
5941: Sporting Goods Stores
5945: Hobby, Toy, and Game Shops
5947: Gift, Card, Novelty, and Souvenir Shops
5977: Cosmetic Stores
5992: Florists
StoreHub reserves the right to update the approved MCC list in line with its regulatory obligations and risk framework. Notice of changes will be provided via email or through the StoreHub platform.
