What is senangPay's IPP and how does it work?
senangPay's Instalment Payment Plan, or IPP, is a product developed in partnership with Pine Labs that allows customers to pay for their purchases with multiple instalment tenures.
With senangPay's IPP, you can integrate with multiple banks through a single Merchant ID with only a one-time activation fee.
This feature will be available soon.
A. What partnering banks do senangPay's IPP offer?
Currently, senangPay offers integrations with the following banks, with the following tenures offered:
| Bank | 3 months | 6 months | 12 months | 24 months |
| HSBC Bank | Yes | Yes | Yes | Yes |
|
Affin Bank |
Yes | Yes | Yes | Yes |
| AmBank | Yes | Yes | Yes | Yes |
| Standard Chartered Bank | Yes | Yes | Yes | Yes |
| OCBC Bank |
No |
Yes | Yes | Yes |
| Alliance Bank | No | Yes | Yes | Yes |
| RHB Bank | No | Yes | Yes | Yes |
| UOB | No | Yes | Yes | Yes |
More banks may be integrated at a later time. Any changes to our partnering banks will be updated here. Please stay tuned to our social media channels as we may update our
B. Which senangPay packages can apply for IPP?
Currently, only Advance and Enterprise package subscribers can apply for senangPay's IPP. If you are a Starter package subscriber and wish to upgrade, please refer to this guide page.
C. What is the onboarding process like?
Unlike the traditional onboarding process, senangPay's IPP only requires KYB and onboarding with a single acquirer. The process is as follows:
- senangPay onboarding team will submit an Excel sheet with the onboarding details to Pine Labs OPS via e-mail.
- Pine Labs OPS will process the onboarding approval.
- Merchant ID and Store ID will be ready within 1–3 working days.
D. What are the documents required to sign up for IPP?
You will be required to submit the same documents as per your normal onboarding process. Please refer to this page for more details.
E. What are your standard rates?
For our standard go-to-market rates, please refer to the table below. Keep in mind that these rates are not fixed and are open to negotiations on a case-by-case basis.
| Bank | 3 Months | 6 Months | 12 Months | 24 Months |
|
Affin Bank |
3.70% | 4.00% | 5.10% | 7.50% |
| Alliance Bank | N/A | 4.00% | 5.10% | 7.50% |
| AmBank | 3.70% | 4.00% | 5.10% | 7.50% |
| HSBC Bank | 3.70% | 4.00% | 5.10% | 7.50% |
| OCBC Bank | N/A | 4.00% | 5.10% | 7.50% |
| RHB Bank | N/A | 4.00% | 5.10% | 7.50% |
| UOB | N/A | 4.00% | 5.10% | 7.50% |
F. Are there any annual fees or registration fees?
Upon registration, you will need to pay a one-time setup fee of RM650. There is no annual maintenance fee.